American Pension Investors Trust NPORT-P Yorktown Multi-sector Bond Fund (Oct 2021 report)

Yorktown

Growth

Fund

Schedule

of

Investments

October

31,

2021

-

(Unaudited)

Shares

Fair

Value

COMMON

STOCKS

—

99.40%

Communications

—

7.23%

51job,

Inc.

-

ADR

(a)

8,100‌

$

482,436‌

Cable

One,

Inc.

310‌

530,475‌

Discovery,

Inc.,

Series

A

(a)

11,500‌

269,560‌

Embracer

Group

AB

(a)

34,200‌

317,940‌

Gray

Television,

Inc.

33,850‌

793,444‌

IAC/InterActiveCorp.

(a)

2,100‌

319,977‌

Liberty

Media

Corp.

-

Liberty

SiriusXM

,

Class

A

(a)

11,700‌

582,426‌

Paradox

Interactive

AB

16,200‌

237,675‌

Prosus

NV

-

ADR

20,300‌

356,265‌

SoftBank

Corp.

-

ADR

27,800‌

378,469‌

Take-Two

Interactive

Software,

Inc.

(a)

2,400‌

434,400‌

Tegna

,

Inc.

27,600‌

542,616‌

ViacomCBS

,

Inc.,

Class

B

14,000‌

507,080‌

Yandex

N.V.,

Class

A

(a)

6,600‌

546,744‌

6,299,507‌

Consumer

Discretionary

—

11.42%

Etsy,

Inc.

(a)

2,300‌

576,587‌

Evolution

AB

-

ADR

2,400‌

391,704‌

Evolution

AB

2,600‌

420,568‌

Hermes

International

-

ADR

3,800‌

605,378‌

Huazhu

Group

Ltd.

-

ADR

(a)

9,000‌

417,240‌

iRobot

Corp.

(a)

3,300‌

275,286‌

LCI

Industries

4,800‌

670,272‌

Li

Ning

Co.

Ltd.

58,700‌

652,600‌

Lithia

Motors,

Inc.,

Class

A

1,050‌

335,181‌

LKQ

Corp.

(a)

11,350‌

625,158‌

Moncler

SpA

7,700‌

552,912‌

MonotaRO

Co.

Ltd.

22,100‌

500,263‌

Open

House

Co.

Ltd.

9,100‌

576,455‌

Pool

Corp.

1,100‌

566,676‌

PulteGroup,

Inc.

9,100‌

437,528‌

Tractor

Supply

Co.

2,800‌

608,076‌

Trigano

SA

2,500‌

467,865‌

Vista

Outdoor,

Inc.

(a)

21,800‌

912,112‌

Zhongsheng

Group

Holdings

Ltd.

40,300‌

364,386‌

9,956,247‌

Consumer

Staples

—

2.48%

ConAgra

Foods,

Inc.

14,000‌

450,800‌

Five

Below,

Inc.

(a)

2,400‌

473,520‌

ITOCHU

Corp.

-

ADR

7,900‌

449,905‌

Performance

Food

Group

Co.

(a)

10,650‌

481,700‌

Trulieve

Cannabis

Corp.

(a)

12,100‌

304,557‌

2,160,482‌

Energy

—

1.52%

Ameresco

,

Inc.,

Class

A

(a)

7,750‌

636,508‌

Yorktown

Growth

Fund

Schedule

of

Investments

(continued)

October

31,

2021

-

(Unaudited)

Shares

Fair

Value

Array

Technologies,

Inc.

(a)

32,100‌

$

685,335‌

1,321,843‌

Financials

—

8.36%

Arthur

J.

Gallagher

&

Co.

2,800‌

469,476‌

Credit

Acceptance

Corp.

(a)

1,400‌

837,494‌

Hamilton

Lane,

Inc.,

Class

A

5,400‌

564,354‌

Interactive

Brokers

Group,

Inc.,

Class

A

7,250‌

513,662‌

KKR

&

Co.,

Inc.

9,700‌

772,799‌

LPL

Financial

Holdings,

Inc.

3,400‌

557,668‌

Nihon

M&A

Center,

Inc.

12,800‌

391,381‌

Owl

Rock

Capital

Corp.

34,450‌

495,391‌

Raymond

James

Financial,

Inc.

6,450‌

635,905‌

SelectQuote

,

Inc.

(a)

59,800‌

794,742‌

Tradeweb

Markets,

Inc.,

Class

A

4,850‌

432,135‌

Virtus

Investment

Partners,

Inc.

1,850‌

592,000‌

Worldline

S.A.

-

ADR

(a)

7,700‌

224,255‌

7,281,262‌

Health

Care

—

14.64%

Abiomed

,

Inc.

(a)

1,550‌

514,662‌

Bio-

Techne

Corp.

1,200‌

628,380‌

Catalent

,

Inc.

(a)

3,950‌

544,547‌

Charles

River

Laboratories

International,

Inc.

(a)

1,800‌

807,624‌

Chemed

Corp.

1,100‌

530,475‌

Cooper

Cos.,

Inc.

(The)

1,240‌

516,981‌

Emergent

BioSolutions

,

Inc.

(a)

8,200‌

390,894‌

Enanta

Pharmaceuticals,

Inc.

(a)

10,400‌

892,840‌

Encompass

Health

Corp.

4,600‌

292,376‌

Evotec

SE

(a)

11,500‌

556,323‌

Genmab

A/S

-

ADR

(a)

10,100‌

450,864‌

Globus

Medical,

Inc.,

Class

A

(a)

6,400‌

493,888‌

ICON

PLC

(a)

2,450‌

702,586‌

Incyte

Corp.

(a)

6,000‌

401,880‌

Insulet

Corp.

(a)

2,150‌

666,543‌

LHC

Group,

Inc.

(a)

2,100‌

282,639‌

Lifco

AB,

Class

B

22,900‌

666,879‌

Lonza

Group

AG

-

ADR

8,400‌

692,412‌

Masimo

Corp.

(a)

1,950‌

552,903‌

Penumbra,

Inc.

(a)

1,500‌

414,825‌

PerkinElmer,

Inc.

3,250‌

574,892‌

Repligen

Corp.

(a)

2,150‌

624,575‌

Sonova

Holding

AG

-

ADR

6,780‌

562,198‌

12,762,186‌

Industrials

—

13.59%

Advanced

Energy

Industries,

Inc.

4,600‌

422,372‌

ASSA

ABLOY

AB

-

ADR

27,300‌

400,218‌

Cognex

Corp.

5,100‌

446,709‌

DSV

Panalpina

A/S

-

ADR

3,900‌

455,169‌

Fluidra

SA

9,800‌

374,396‌

Yorktown

Growth

Fund

Schedule

of

Investments

(continued)

October

31,

2021

-

(Unaudited)

Shares

Fair

Value

Franklin

Electric

Co.,

Inc.

6,000‌

$

518,280‌

Fujitec

Co.

Ltd.

-

ADR

22,700‌

513,424‌

Generac

Holdings,

Inc.

(a)

1,500‌

747,840‌

Graco

,

Inc.

4,600‌

345,828‌

HEICO

Corp.

3,200‌

446,048‌

IDEX

Corp.

2,200‌

489,654‌

Ingersoll

Rand,

Inc.

(a)

9,700‌

521,472‌

Investment

AB

Latour

16,000‌

579,772‌

IR

Japan

Holdings

Ltd.

2,800‌

258,195‌

Landstar

System,

Inc.

2,250‌

395,572‌

NIBE

Industrier

AB

28,800‌

428,737‌

Prysmian

SpA

14,400‌

544,307‌

Saia,

Inc.

(a)

3,000‌

937,920‌

Teledyne

Technologies,

Inc.

(a)

900‌

404,298‌

TopBuild

Corp.

(a)

2,600‌

668,122‌

Toro

Co.

(The)

3,200‌

305,504‌

Trimble,

Inc.

(a)

8,000‌

698,960‌

UniFirst

Corp.

1,900‌

376,124‌

Xylem,

Inc.

4,350‌

568,067‌

11,846,988‌

Materials

—

8.01%

Berry

Plastics

Group,

Inc.

(a)

7,950‌

521,043‌

CCL

Industries,

Inc.,

Class

B

8,000‌

437,227‌

Commercial

Metals

Co.

16,000‌

514,880‌

Crown

Holdings,

Inc.

4,800‌

499,152‌

Givaudan

SA

-

ADR

6,000‌

566,280‌

Kingspan

Group

PLC

-

ADR

4,650‌

536,183‌

Nolato

AB

48,000‌

633,800‌

Nutrien

Ltd.

6,300‌

440,433‌

Sibanye

Stillwater

Ltd.

-

ADR

23,000‌

326,600‌

Symrise

AG

-

ADR

15,300‌

529,074‌

Tokai

Carbon

Co.

Ltd.

24,600‌

321,162‌

Trex

Co.,

Inc.

(a)

5,000‌

532,000‌

UFP

Industries,

Inc.

6,300‌

515,529‌

Vulcan

Materials

Co.

3,200‌

608,384‌

6,981,747‌

Real

Estate

—

4.60%

Aedifica

SA

2,550‌

339,862‌

Alexandria

Real

Estate

Equities,

Inc.

2,850‌

581,799‌

CBRE

Group,

Inc.,

Class

A

(a)

6,700‌

697,336‌

CyrusOne

,

Inc.

7,100‌

582,342‌

FirstService

Corp.

2,300‌

459,816‌

Hulic

Co.

Ltd.

31,900‌

305,913‌

STORE

Capital

Corp.

16,300‌

559,579‌

WP

Carey,

Inc.

6,300‌

485,793‌

4,012,440‌

Technology

—

27.55%

Advantest

Corp.

5,800‌

474,784‌

Yorktown

Growth

Fund

Schedule

of

Investments

(continued)

October

31,

2021

-

(Unaudited)

Shares

Fair

Value

Adyen

NV

-

ADR

(a)

21,000‌

$

637,770‌

Apollo

Medical

Holdings,

Inc.

(a)

7,100‌

487,273‌

ASML

Holding

N.V.

-

ADR

440‌

357,667‌

CDW

Corp.

2,200‌

410,630‌

Ciena

Corp.

(a)

9,300‌

504,897‌

CMC

Materials,

Inc.

3,000‌

385,110‌

Concentrix

Corp.

2,700‌

479,736‌

CoStar

Group,

Inc.

(a)

5,500‌

473,275‌

CyberArk

Software

Ltd.

(a)

3,100‌

558,341‌

Descartes

Systems

Group,

Inc.

(The)

(a)

8,200‌

670,514‌

Digital

Turbine,

Inc.

(a)

7,250‌

623,935‌

Entegris

,

Inc.

5,400‌

760,212‌

EPAM

Systems,

Inc.

(a)

1,300‌

875,212‌

ExlService

Holdings,

Inc.

(a)

5,500‌

674,465‌

FactSet

Research

Systems,

Inc.

1,600‌

710,224‌

Fortinet,

Inc.

(a)

2,300‌

773,582‌

Gartner,

Inc.

(a)

2,600‌

862,966‌

Genpact

Ltd.

11,200‌

552,720‌

Globant

S.A.

(a)

2,300‌

734,137‌

GMO

Payment

Gateway,

Inc.

2,600‌

329,403‌

Guidewire

Software,

Inc.

(a)

5,100‌

641,223‌

JustSystems

Corp.

7,600‌

390,749‌

KLA

Corp.

1,500‌

559,140‌

Lasertec

Corp.

2,100‌

461,176‌

Logitech

International

S.A.

7,500‌

622,725‌

MAXIMUS,

Inc.

5,300‌

448,221‌

Monolithic

Power

Systems,

Inc.

1,300‌

683,098‌

Nintendo

Co.

Ltd.

-

ADR

5,800‌

320,450‌

Pagseguro

Digital

Ltd.,

Class

A

(a)

11,200‌

405,440‌

Paycom

Software,

Inc.

(a)

1,550‌

849,168‌

Paylocity

Holdings

Corp.

(a)

2,550‌

778,107‌

Qualys

,

Inc.

(a)

4,700‌

585,056‌

Soitec

S.A.

(a)

2,600‌

690,648‌

SPS

Commerce,

Inc.

(a)

6,300‌

962,199‌

SS&C

Technologies

Holdings,

Inc.

5,100‌

405,297‌

SYNNEX

Corp.

4,000‌

420,000‌

Tokyo

Electron

Ltd.

-

ADR

4,400‌

513,040‌

Tyler

Technologies,

Inc.

(a)

1,650‌

896,313‌

Universal

Display

Corp.

2,300‌

421,360‌

WNS

Holdings

Ltd.

-

ADR

(a)

7,000‌

621,670‌

24,011,933‌

Total

Common

Stocks

(Cost $57,002,916)

86,634,635‌

Total

Investments

—

99.40%

(Cost

$57,002,916)

86,634,635‌

Other

Assets

in

Excess

of

Liabilities 

—

 0.60%

526,928‌

Net

Assets

—

100.00%

$

87,161,563‌

Yorktown

Growth

Fund

Schedule

of

Investments

(continued)

October

31,

2021

-

(Unaudited)

(a)

Non-income

producing

security.

ADR

-

American

Depositary

Receipt

Yorktown

Capital

Appreciation

Fund

Schedule

of

Investments

October

31,

2021

-

(Unaudited)

Shares

Fair

Value

COMMON

STOCKS

—

98.35%

Communications

—

12.55%

Alphabet,

Inc.,

Class

A

(a)

120‌

$

355,310‌

Baidu,

Inc.

-

ADR

(a)

1,500‌

243,360‌

Expedia,

Inc.

(a)

1,720‌

282,785‌

Meta

Platforms,

Class

A

(a)

860‌

278,270‌

Netflix,

Inc.

(a)

470‌

324,446‌

Roblox

Corp.,

Class

A

(a)

3,140‌

263,823‌

Roku,

Inc.

(a)

780‌

237,822‌

Sea

Ltd.,

Class

A

-

ADR

(a)

750‌

257,678‌

Shopify,

Inc.,

Class

A

(a)

195‌

286,012‌

Spotify

Technology

S.A.

(a)

1,010‌

292,294‌

Trade

Desk,

Inc.

(The),

Class

A

(a)

3,580‌

268,178‌

Walt

Disney

Co.

(The)

(a)

1,520‌

256,986‌

3,346,964‌

Consumer

Discretionary

—

12.01%

Amazon.com,

Inc.

(a)

68‌

229,325‌

CarMax,

Inc.

(a)

1,890‌

258,779‌

Chipotle

Mexican

Grill,

Inc.

(a)

160‌

284,645‌

Copart

,

Inc.

(a)

1,860‌

288,839‌

D.R.

Horton,

Inc.

3,400‌

303,518‌

Etsy,

Inc.

(a)

1,420‌

355,980‌

lululemon

athletica

,

Inc.

(a)

720‌

335,527‌

Peloton

Interactive,

Inc.,

Class

A

(a)

2,780‌

254,203‌

Pool

Corp.

535‌

275,611‌

Tesla,

Inc.

(a)

240‌

267,360‌

Tractor

Supply

Co.

1,608‌

349,209‌

3,202,996‌

Consumer

Staples

—

6.34%

Archer-Daniels-Midland

Co.

4,465‌

286,832‌

Constellation

Brands,

Inc.,

Class

A

1,100‌

238,491‌

Kroger

Co.

(The)

7,000‌

280,140‌

PepsiCo,

Inc.

1,695‌

273,912‌

Target

Corp.

1,375‌

356,977‌

Wal-Mart

Stores,

Inc.

1,700‌

254,014‌

1,690,366‌

Energy

—

4.09%

EOG

Resources,

Inc.

4,900‌

453,054‌

Phillips

66

3,450‌

257,991‌

SolarEdge

Technologies,

Inc.

(a)

1,075‌

381,281‌

1,092,326‌

Financials

—

11.78%

American

Express

Co.

2,110‌

366,676‌

Blackstone

Group

LP

(The)

3,240‌

448,481‌

Charles

Schwab

Corp.

(The)

4,225‌

346,576‌

Chubb

Ltd.

1,500‌

293,070‌

CME

Group,

Inc.

1,395‌

307,667‌

Intercontinental

Exchange,

Inc.

2,100‌

290,766‌

Yorktown

Capital

Appreciation

Fund

Schedule

of

Investments

(continued)

October

31,

2021

-

(Unaudited)

Shares

Fair

Value

Marsh

&

McLennan

Cos.,

Inc.

2,090‌

$

348,612‌

Nasdaq,

Inc.

1,870‌

392,457‌

T.

Rowe

Price

Group,

Inc.

1,610‌

349,177‌

3,143,482‌

Health

Care

—

12.98%

Abbott

Laboratories

1,850‌

238,447‌

Agilent

Technologies,

Inc.

1,860‌

292,931‌

Align

Technology,

Inc.

(a)

380‌

237,261‌

CVS

Health

Corp.

3,290‌

293,731‌

DexCom

,

Inc.

(a)

580‌

361,462‌

Exact

Sciences

Corp.

(a)

2,440‌

232,337‌

Intuitive

Surgical,

Inc.

(a)

900‌

325,017‌

Regeneron

Pharmaceuticals,

Inc.

(a)

480‌

307,171‌

Stryker

Corp.

975‌

259,418‌

Teladoc

Health,

Inc.

(a)

1,810‌

270,758‌

Thermo

Fisher

Scientific,

Inc.

490‌

310,204‌

UnitedHealth

Group,

Inc.

725‌

333,841‌

3,462,578‌

Industrials

—

7.60%

Caterpillar,

Inc.

1,200‌

244,812‌

Deere

&

Co.

840‌

287,540‌

General

Dynamics

Corp.

1,610‌

326,428‌

Kratos

Defense

&

Security

Solutions,

Inc.

(a)

10,690‌

228,659‌

Norfolk

Southern

Corp.

940‌

275,467‌

United

Parcel

Service,

Inc.,

Class

B

1,540‌

328,744‌

Waste

Management,

Inc.

2,100‌

336,483‌

2,028,133‌

Materials

—

1.97%

Air

Products

&

Chemicals,

Inc.

840‌

251,841‌

Linde

PLC

860‌

274,512‌

526,353‌

Real

Estate

—

2.06%

Crown

Castle

International

Corp.

1,450‌

261,435‌

Digital

Realty

Trust,

Inc.

1,820‌

287,214‌

548,649‌

Technology

—

24.95%

Accenture

PLC,

Class

A

960‌

344,438‌

Adobe,

Inc.

(a)

450‌

292,662‌

Analog

Devices,

Inc.

1,500‌

260,235‌

Apple,

Inc.

1,650‌

247,170‌

Bill.com

Holdings,

Inc.

(a)

880‌

258,993‌

Broadcom,

Inc.

565‌

300,394‌

Crowdstrike

Holdings,

Inc.,

Class

A

(a)

1,130‌

318,434‌

DocuSign,

Inc.

(a)

960‌

267,158‌

Intuit,

Inc.

660‌

413,153‌

MasterCard,

Inc.,

Class

A

700‌

234,864‌

Microsoft

Corp.

1,070‌

354,833‌

NVIDIA

Corp.

1,920‌

490,886‌

Yorktown

Capital

Appreciation

Fund

Schedule

of

Investments

(continued)

October

31,

2021

-

(Unaudited)

Shares

Fair

Value

Okta

,

Inc.

(a)

1,060‌

$

262,011‌

PayPal

Holdings,

Inc.

(a)

1,030‌

239,568‌

salesforce.com,

Inc.

(a)

980‌

293,696‌

Square,

Inc.,

Class

A

(a)

1,100‌

279,950‌

Taiwan

Semiconductor

Manufacturing

Co.

Ltd.

-

ADR

2,000‌

227,400‌

Twilio

,

Inc.,

Class

A

(a)

780‌

227,261‌

UiPath

,

Inc.,

Class

A

(a)

4,880‌

245,220‌

Unity

Software,

Inc.

(a)

2,250‌

340,448‌

Visa,

Inc.,

Class

A

1,165‌

246,712‌

Workday,

Inc.,

Class

A

(a)

900‌

260,982‌

Zoom

Video

Communications,

Inc.,

Class

A

(a)

910‌

249,932‌

6,656,400‌

Utilities

—

2.02%

Duke

Energy

Corp.

2,650‌

270,326‌

NextEra

Energy,

Inc.

3,150‌

268,790‌

539,116‌

Total

Common

Stocks

(Cost $19,741,447)

26,237,363‌

Total

Investments

—

98.35%

(Cost

$19,741,447)

26,237,363‌

Other

Assets

in

Excess

of

Liabilities 

—

 1.65%

440,390‌

Net

Assets

—

100.00%

$

26,677,753‌

(a)

Non-income

producing

security.

ADR

-

American

Depositary

Receipt

Yorktown

Multi-Sector

Bond

Fund

Schedule

of

Investments

October

31,

2021

-

(Unaudited)

Principal

Amount

Fair

Value

CORPORATE

BONDS

AND

NOTES

—

77.28%

Communications

—

3.69%

CCO

Holdings

LLC,

4.50%,

6/1/2033

(a)

$

1,000,000‌

$

998,785‌

DIRECTV

Holdings

LLC,

5.88%,

8/15/2027

(a)

250,000‌

259,475‌

Hughes

Satellite

Systems

Corp.,

5.25%,

8/1/2026

250,000‌

279,376‌

Lamar

Media

Corp.,

3.63%,

1/15/2031

500,000‌

490,945‌

Level

3

Financing,

Inc.,

4.25%,

7/1/2028

(a)

2,000,000‌

1,979,930‌

Liberty

Interactive

LLC,

8.50%,

7/15/2029

1,000,000‌

1,117,020‌

Liberty

Interactive

LLC,

8.25%,

2/1/2030

2,000,000‌

2,183,710‌

Prosus

NV,

MTN,

3.06%,

7/13/2031

(a)

500,000‌

485,734‌

Scripps

Escrow

II,

Inc.,

3.88%,

1/15/2029

(a)

500,000‌

498,128‌

United

States

Cellular

Corp.,

6.70%,

12/15/2033

2,540,000‌

3,164,784‌

Univision

Communications,

Inc.,

6.63%,

6/1/2027

(a)

500,000‌

541,530‌

Univision

Communications,

Inc.,

4.50%,

5/1/2029

(a)

1,000,000‌

1,012,950‌

Verizon

Communications,

Inc.,

2.85%,

9/3/2041

500,000‌

489,691‌

ViacomCBS

,

Inc.,

4.20%,

5/19/2032

2,000,000‌

2,278,174‌

VMED

OC

UK

Financing

PLC,

4.75%,

7/15/2031

(a)

1,000,000‌

1,006,250‌

16,786,482‌

Consumer

Discretionary

—

3.39%

Carnival

Corp.,

7.20%,

10/1/2023

1,000,000‌

1,079,810‌

Carnival

Corp.,

4.00%,

8/1/2028

(a)

1,000,000‌

1,001,250‌

Carnival

Corp.,

6.00%,

5/1/2029

(a)

1,000,000‌

1,001,250‌

Ford

Motor

Credit

Co.,

LLC,

3.38%,

11/13/2025

1,000,000‌

1,028,750‌

Ford

Motor

Credit

Co.,

LLC,

3.63%,

6/17/2031

1,000,000‌

1,012,500‌

L

Brands,

Inc.,

6.88%,

11/1/2035

2,000,000‌

2,432,440‌

LGI

Homes,

Inc.,

4.00%,

7/15/2029

(a)

500,000‌

486,875‌

Marriott

International,

Inc.,

2.75%,

10/15/2033

500,000‌

488,621‌

Marriott

Ownership

Resorts,

Inc.,

4.50%,

6/15/2029

(a)

1,000,000‌

1,001,250‌

QVC,

Inc.,

4.75%,

2/15/2027

2,000,000‌

2,096,380‌

Rent-A-Center,

Inc.,

6.38%,

2/15/2029

(a)

500,000‌

523,125‌

Royal

Caribbean

Cruises

Ltd.,

4.25%,

7/1/2026

(a)

500,000‌

485,625‌

Stellantis

NV,

5.25%,

4/15/2023

200,000‌

212,802‌

Tenneco,

Inc.,

5.13%,

4/15/2029

(a)

500,000‌

496,250‌

Wolverine

World

Wide,

Inc.,

4.00%,

8/15/2029

(a)

1,000,000‌

988,560‌

WW

International,

Inc.,

4.50%,

4/15/2029

(a)

100,000‌

95,875‌

Yum!

Brands,

Inc.,

3.63%,

3/15/2031

1,000,000‌

989,600‌

15,420,963‌

Consumer

Staples

—

6.11%

Anheuser-Busch

Cos.,

LLC,

4.70%,

2/1/2036

(a)

100,000‌

121,071‌

Avon

Products,

Inc.,

6.50%,

3/15/2023

3,000,000‌

3,165,000‌

Central

Garden

&

Pet

Co.,

4.13%,

4/30/2031

(a)

500,000‌

500,625‌

Constellation

Brands,

Inc.,

2.25%,

8/1/2031

500,000‌

489,552‌

Constellation

Brands,

Inc.,

4.50%,

5/9/2047

500,000‌

608,508‌

JBS

Finance

Luxembourg

SaRL

,

3.63%,

1/15/2032

(a)

500,000‌

494,335‌

JBS

Investments

II

GmbH,

7.00%,

1/15/2026

(a)

4,000,000‌

4,165,000‌

JBS

USA

LUX

SA,

3.75%,

12/1/2031

(a)

250,000‌

256,261‌

Kraft

Heinz

Foods

Co.,

6.50%,

2/9/2040

411,000‌

587,368‌

Kraft

Heinz

Foods

Co.,

5.00%,

6/4/2042

(a)

300,000‌

371,348‌

Yorktown

Multi-Sector

Bond

Fund

Schedule

of

Investments

(continued)

October

31,

2021

-

(Unaudited)

Kraft

Heinz

Foods

Co.,

5.00%,

6/4/2042

$

500,000‌

$

618,914‌

Kraft

Heinz

Foods

Co.,

4.38%,

6/1/2046

1,000,000‌

1,169,038‌

Kraft

Heinz

Foods

Co.,

4.88%,

10/1/2049

1,000,000‌

1,240,000‌

Land

O'

Lakes,

Inc.,

7.25%,

Perpetual

(a)

3,500,000‌

3,798,708‌

Land

O'

Lakes,

Inc.,

8.00%,

Perpetual

(a)

2,000,000‌

2,169,625‌

Louis

Dreyfus

Co.

BV,

5.25%,

6/13/2023

2,200,000‌

2,359,562‌

Molson

Coors

Beverage

Co.,

4.20%,

7/15/2046

1,000,000‌

1,121,262‌

Natura

Cosmeticos

SA,

4.13%,

5/3/2028

(a)

500,000‌

495,525‌

New

Albertsons

LP,

7.75%,

6/15/2026

500,000‌

576,165‌

Performance

Food

Group,

Inc.,

4.25%,

8/1/2029

(a)

500,000‌

500,625‌

Pilgrim's

Pride

Corp.,

4.25%,

4/15/2031

(a)

1,000,000‌

1,056,340‌

Reynolds

American,

Inc.,

7.00%,

8/4/2041

624,000‌

828,805‌

Turning

Point

Brands,

Inc.,

5.63%,

2/15/2026

(a)

850,000‌

862,771‌

Vector

Group

Ltd.,

5.75%,

2/1/2029

(a)

250,000‌

249,063‌

27,805,471‌

Financials

—

46.54%

AgTexas

Farm

Credit

Services,

5.75%,

Perpetual

(a),(b)

1,000,000‌

1,033,120‌

Allegiance

Bancshares,

Inc.,

4.70%,

10/1/2029

(3MO

LIBOR

+

313.0bps)

(b)

1,000,000‌

1,035,127‌

American

AgCredit

Corp.,

5.25%,

Perpetual

(b)

1,000,000‌

1,022,500‌

AmTrust

Financial

Services,

Inc.,

6.13%,

8/15/2023

2,000,000‌

2,020,944‌

Assurant,

Inc.,

7.00%,

3/27/2048

(b)

1,000,000‌

1,167,370‌

Assured

Guaranty

Municipal

Holdings,

Inc.,

6.40%,

12/15/2066

(a),(b)

2,000,000‌

2,222,881‌

Assured

Guaranty

US

Holdings,

Inc.,

2.50%,

12/15/2066

(3MO

LIBOR

+

238.0bps)

(b)

2,000,000‌

1,685,000‌

Athene

Holding

Ltd.,

4.13%,

1/12/2028

1,000,000‌

1,108,257‌

Athene

Holding

Ltd.,

6.15%,

4/3/2030

2,000,000‌

2,496,241‌

Atlantic

Capital

Bancshares,

Inc.,

5.50%,

9/1/2030

(SOFRRATE

+

536.3bps)

(b)

1,000,000‌

1,107,489‌

BAC

Capital

Trust

XIII,

4.00%,

Perpetual

(b)

282,000‌

279,283‌

BAC

Capital

Trust

XIV,

4.00%,

Perpetual

(3MO

LIBOR

+

83.0bps)

(b)

2,000,000‌

2,001,859‌

Banco

Bilbao

Vizcaya

Argentaria

S.A.,

6.13%,

Perpetual

(USSW5

+

387.0bps)

(b)

1,000,000‌

1,077,760‌

Banco

Bilbao

Vizcaya

Argentaria

S.A.,

Series

9,

6.50%,

Perpetual

(H15T5Y

+

519.2bps)

(b)

4,900,000‌

5,267,500‌

BancPlus

Corp.,

6.00%,

6/15/2030

(a),(b)

1,000,000‌

1,076,996‌

Bank

of

Nova

Scotia,

4.90%,

Perpetual

(H15T5Y

+

455.1bps)

(b)

1,000,000‌

1,069,680‌

Barclays

PLC,

4.84%,

5/9/2028

2,000,000‌

2,229,583‌

Barclays

PLC,

5.09%,

6/20/2030

(3MO

LIBOR

+

305.4bps)

(b)

1,500,000‌

1,721,619‌

Barclays

PLC,

7.75%,

Perpetual

(USSW5

+

484.2bps)

(b)

1,000,000‌

1,088,550‌

BBVA

Bancomer

S.A.,

5.13%,

1/18/2033

(H15T5Y

+

265.0bps)

(b)

3,000,000‌

3,098,535‌

BNP

Paribas

SA,

6.63%,

Perpetual

(USSW5

+

414.9bps)

(a),(b)

4,000,000‌

4,335,000‌

BNP

Paribas

SA,

7.20%,

Perpetual

(3MO

LIBOR

+

129.0bps)

(a),(b)

2,000,000‌

2,077,500‌

Brighthouse

Financial,

Inc.,

4.70%,

6/22/2047

2,642,000‌

3,036,158‌

Cadence

Bancorp,

4.75%,

6/30/2029

(3MO

LIBOR

+

303.0bps)

(b)

1,665,000‌

1,757,259‌

Central

Bancshares,

Inc.,

5.75%,

6/30/2029

(3MO

LIBOR

+

387.0bps)

(a),(b)

2,000,000‌

2,032,890‌

Charles

Schwab

Corp.

(The),

Series

E,

4.63%,

Perpetual

(3MO

LIBOR

+

331.5bps)

(b)

400,000‌

402,120‌

CIT

Group,

Inc.,

Class

A,

5.80%,

Perpetual

1,000,000‌

1,018,750‌

Citadel

LP,

4.88%,

1/15/2027

(a)

3,000,000‌

3,225,475‌

Yorktown

Multi-Sector

Bond

Fund

Schedule

of

Investments

(continued)

October

31,

2021

-

(Unaudited)

Citigroup,

Inc.,

4.70%,

Perpetual

(SOFRRATE

+

323.4bps)

(b)

$

500,000‌

$

508,125‌

Citizens

Financial

Group,

Inc.,

Series

C,

6.38%,

Perpetual

(3MO

LIBOR

+

315.7bps)

(b)

1,500,000‌

1,580,625‌

Commerzbank

AG,

7.00%,

Perpetual

(USISDA05

+

522.8bps)

(b)

2,000,000‌

2,156,640‌

ConnectOne

Bancorp,

Inc.,

5.20%,

2/1/2028

(3MO

LIBOR

+

284.0bps)

(b)

2,000,000‌

2,049,844‌

Cowen,

Inc.,

7.25%,

5/6/2024

(a)

4,000,000‌

4,295,589‌

Credit

Suisse

Group

AG,

5.10%,

Perpetual

(H15T5Y

+

329.3bps)

(a),(b)

500,000‌

506,515‌

Credit

Suisse

Group

AG,

7.25%,

Perpetual

(USSW5

+

433.2bps)

(a),(b)

3,000,000‌

3,329,970‌

Dime

Community

Bancshares,

Inc.,

4.50%,

6/15/2027

(3MO

LIBOR

+

266.0bps)

(b)

1,000,000‌

1,001,607‌

Discover

Financial

Services,

Series

C,

5.50%,

Perpetual

(3MO

LIBOR

+

307.6bps)

(b)

1,334,000‌

1,435,717‌

Enstar

Group

Ltd.,

4.95%,

6/1/2029

5,000,000‌

5,642,035‌

Everest

Reinsurance

Holdings,

Inc.,

2.53%,

5/15/2037

(3MO

LIBOR

+

238.5bps)

(b)

5,000,000‌

4,840,630‌

F&M

Financial

Services

Corp.,

Series

QIB,

5.95%,

9/15/2029

(SOFRRATE

+

484.0bps)

(a),(b)

3,000,000‌

3,128,564‌

FedNat

Holding

Co.,

7.75%,

3/15/2029

2,400,000‌

2,568,000‌

Fidelity

&

Guaranty

Life

Holdings,

Inc.,

Class

B,

5.50%,

5/1/2025

(a)

2,000,000‌

2,253,719‌

Fifth

Third

Bancorp,

Series

J,

3.26%,

Perpetual

(3MO

LIBOR

+

312.9bps)

(b)

4,000,000‌

4,021,741‌

Fifth

Third

Bancorp,

5.10%,

Perpetual

(3MO

LIBOR

+

303.3bps)

(b)

1,000,000‌

1,023,750‌

First

Financial

Bancorp,

5.13%,

8/25/2025

2,400,000‌

2,498,256‌

GATX

Corp.,

Class

B,

4.00%,

6/30/2030

2,000,000‌

2,236,672‌

Global

Atlantic

Financial

Co.,

4.70%,

10/15/2051

(a),(b)

1,000,000‌

1,030,799‌

Goldman

Sachs

Group,

Inc.

(The),

Series

P,

5.00%,

Perpetual

(3MO

LIBOR

+

287.4bps)

(b)

4,000,000‌

4,020,000‌

Hartford

Financial

Services

Group,

Inc.

(The),

2.25%,

2/12/2047

(3MO

LIBOR

+

212.5bps)

(a),(b)

5,867,000‌

5,705,659‌

Icahn

Enterprises

LP,

6.75%,

2/1/2024

1,093,000‌

1,110,761‌

Icahn

Enterprises

LP,

4.38%,

2/1/2029

250,000‌

251,417‌

ILFC

E-Capital

Trust

I,

3.46%,

12/21/2065

(USD

CMT

30YR

+

155.0bps)

(b)

590,000‌

484,304‌

ILFC

E-Capital

Trust

I,

3.46%,

12/21/2065

(USD

CMT

30YR

+

155.0bps)

(a),(b)

2,250,000‌

1,846,924‌

ILFC

E-Capital

Trust

II,

3.71%,

12/21/2065

(H15T30Y

+

180.0bps)

(a),(b)

1,000,000‌

858,810‌

ING

Groep

NV,

4.25%,

Perpetual

(H15T5Y

+

286.2bps)

(b)

1,000,000‌

947,500‌

ING

Groep

NV,

5.75%,

Perpetual

(H15T5Y

+

432.2bps)

(b)

1,000,000‌

1,086,455‌

Intesa

Sanpaolo

SpA

,

5.71%,

1/15/2026

(a)

4,000,000‌

4,448,691‌

Investar

Holding

Corp.,

5.13%,

12/30/2029

(a),(b)

1,000,000‌

1,022,086‌

JPMorgan

Chase

&

Co.,

Series

V,

3.45%,

1/1/2049

(3MO

LIBOR

+

332.0bps)  

(b)

5,000,000‌

5,002,530‌

JPMorgan

Chase

&

Co.,

Series

I,

3.60%,

4/29/2049

(3MO

LIBOR

+

347.0bps)

(b)

681,000‌

682,699‌

JPMorgan

Chase

&

Co.,

Series

HH,

4.60%,

8/1/2168

(SOFRRATE

+

312.5bps)

(b)

1,000,000‌

1,024,117‌

Liberty

Mutual

Group,

Inc.,

3.95%,

5/15/2060

(a)

500,000‌

567,199‌

Liberty

Mutual

Group,

Inc.,

4.30%,

2/1/2061

(a)

500,000‌

466,993‌

Lincoln

National

Corp.,

2.48%,

5/17/2066

(3MO

LIBOR

+

235.8bps)

(b)

1,000,000‌

910,000‌

Lincoln

National

Corp.,

2.17%,

4/20/2067

(3MO

LIBOR

+

204.0bps)

(b)

5,623,000‌

4,948,240‌

Lloyds

Banking

Group

PLC,

7.50%,

Perpetual

(USSW5

+

449.6bps)

(b)

2,000,000‌

2,296,251‌

Yorktown

Multi-Sector

Bond

Fund

Schedule

of

Investments

(continued)

October

31,

2021

-

(Unaudited)

Lloyds

Banking

Group

PLC,

7.50%,

Perpetual

(USSW5

+

476.0bps)

(b)

$

3,000,000‌

$

3,322,500‌

Macquarie

Bank

Ltd.,

3.62%,

6/3/2030

(a)

1,000,000‌

1,047,673‌

Massachusetts

Mutual

Life

Insurance

Co.,

3.38%,

Perpetual

(a)

1,000,000‌

1,074,573‌

Meridian

Corp.,

5.38%,

12/30/2029

(SOFRRATE

+

395.0bps)

(b)

2,000,000‌

2,057,265‌

Midland

States

Bancorp,

Inc.,

5.00%,

9/30/2029

(SOFRRATE

+

361.0bps)

(b)

2,500,000‌

2,607,890‌

MidWestOne

Financial

Group,

Inc.,

5.75%,

7/30/2030

(b)

1,000,000‌

1,079,938‌

Millennium

Consolidated

Holdings

LLC,

7.50%,

6/30/2023

(a)

4,000,000‌

4,067,530‌

Minnwest

Corp.,

Series

AI,

5.88%,

7/15/2028

(3MO

LIBOR

+

298.0bps)

(b)

400,000‌

414,660‌

Morgan

Stanley,

Series

H,

3.73%,

Perpetual

(3MO

LIBOR

+361.0bps)

(b)

3,000,000‌

3,015,484‌

Nationwide

Mutual

Insurance

Co.,

4.35%,

4/30/2050

(a)

1,000,000‌

1,166,002‌

Nordea

Bank

Abp

,

3.75%,

Perpetual

(a)

1,000,000‌

970,000‌

Northpointe

Bancshares,

Inc.,

6.00%,

9/30/2029

(SOFRRATE

+

490.5bps)

(a),(b)

1,000,000‌

1,022,908‌

Ohio

National

Financial

Services,

Inc.,

5.55%,

1/24/2030

(a)

4,000,000‌

4,532,174‌

Ohio

National

Financial

Services,

Inc.,

6.63%,

5/1/2031

(a)

1,000,000‌

1,183,498‌

OneMain

Finance

Corp.,

5.38%,

11/15/2029

2,000,000‌

2,137,500‌

Oppenheimer

Holdings,

Inc.,

5.50%,

10/1/2025

500,000‌

526,915‌

Pacific

LifeCorp

,

3.35%,

9/15/2050

(a)

500,000‌

538,955‌

PartnerRe

Finance

II,

Inc.,

2.45%,

12/1/2066

(3MO

LIBOR

+

232.5bps)

(b)

500,000‌

447,500‌

Principal

Financial

Group,

Inc.,

3.19%,

5/15/2055

(3MO

LIBOR

+

304.4bps)

(b)

2,000,000‌

1,991,036‌

Provident

Financing

Trust,

7.41%,

3/15/2038

2,000,000‌

2,454,000‌

Radian

Group,

Inc.,

6.63%,

3/15/2025

2,250,000‌

2,505,938‌

Regions

Financial

Corp.,

5.75%,

Perpetual

(H15T5Y

+

542.6bps)

(b)

500,000‌

553,125‌

Reinsurance

Group

of

America,

Inc.,

2.78%,

12/15/2065

(3MO

LIBOR

+

266.5bps)

(b)

3,600,000‌

3,524,249‌

Reliant

Bancorp,

Inc.,

5.13%,

12/15/2029

(SOFRRATE

+

376.5bps)

(b)

2,000,000‌

2,041,994‌

SBL

Holding

s,

Inc.,

5.13%,

11/13/2026

(a)

2,000,000‌

2,199,038‌

SBL

Holdings,

Inc.,

6.50%,

Perpetual

(H15T5Y

+

562.0bps)

(a),(b)

1,393,000‌

1,375,588‌

SBL

Holdings,

Inc.,

7.00%,

Perpetual

(H15T5Y

+

558.0bps)

(a),(b)

1,000,000‌

1,006,250‌

Signature

Bank,

4.13%,

11/1/2029

(3MO

LIBOR

+

255.9bps)

(b)

1,000,000‌

1,049,142‌

Standard

Chartered

PLC,

4.30%,

Perpetual

(a)

500,000‌

481,385‌

Standard

Life

Aberdeen

PLC,

4.25%,

6/30/2028

1,550,000‌

1,687,934‌

Synovus

Financial

Corp.,

5.90%,

2/7/2029

(USSW5

+

337.9bps)

(b)

2,000,000‌

2,152,759‌

Truist

Financial

Corp.,

Series

N,

4.80%,

Perpetual

(H15T5Y

+

300.3bps)

(b)

3,000,000‌

3,120,000‌

Truist

Financial

Corp.,

Series

M,

5.13%,

Perpetual

(3MO

LIBOR

+

278.6bps)

(b)

2,000,000‌

2,150,000‌

UniCredit

SpA

,

7.83%,

12/4/2023

(a)

3,000,000‌

3,405,006‌

UniCredit

SpA

,

5.86%,

6/19/2032

(USISDA05

+

370.3bps)

(a),(b)

2,000,000‌

2,208,865‌

UniCredit

SpA

,

5.46%,

6/30/2035

(H15T5Y

+

475.0bps)

(a),(b)

500,000‌

547,372‌

Unifin

Financiera

SAB

de

CV

Sociedad

Financiera

de

Objeto

Multiple,

Entidad

No

Regulada

,

8.38%,

1/27/2028

(a)

1,000,000‌

887,025‌

Valley

National

Bancorp,

5.25%,

6/15/2030

(SOFRRATE

+

514.0bps)

(b)

750,000‌

799,822‌

Volunteer

State

Bancshares,

Inc.,

5.75%,

11/15/2029

(a),(b)

1,500,000‌

1,538,135‌

Voya

Financial,

Inc.,

5.65%,

5/15/2053

(3MO

LIBOR

+

358.0bps)

(b)

2,000,000‌

2,097,320‌

WT

Holdings,

Inc.,

7.00%,

4/30/2023

1,000,000‌

1,030,298‌

WT

Holdings,

Inc.,

5.50%,

4/30/2028

(a)

1,000,000‌

1,015,000‌

Zenith

National

Insurance

Capital

Trust,

8.55%,

8/1/2028

(a)

1,864,243‌

2,273,489‌

Yorktown

Multi-Sector

Bond

Fund

Schedule

of

Investments

(continued)

October

31,

2021

-

(Unaudited)

Zions

Bancorp,

5.80%,

Perpetual

(3MO

LIBOR

+

380.0bps)

(b)

$

1,000,000‌

$

1,030,792‌

211,823,407‌

Health

Care

—

1.23%

Jazz

Securities

DAC,

4.38%,

1/15/2029

(a)

500,000‌

514,375‌

Organon

Finance

1

LLC,

4.13%,

4/30/2028

(a)

1,000,000‌

1,015,000‌

Perrigo

Finance

Unlimited

Co.,

3.15%,

6/15/2030

1,000,000‌

1,008,977‌

Perrigo

Finance

Unlimited

Co.,

4.90%,

12/15/2044

2,000,000‌

1,985,153‌

Viatris

,

Inc.,

3.85%,

6/22/2040

(a)

1,000,000‌

1,072,387‌

5,595,892‌

Industrials

—

5.40%

ADT

Security

Corp.

(The),

4.13%,

8/1/2029

(a)

1,000,000‌

986,880‌

ADT

Security

Corp.

(The),

4.88%,

7/15/2032

(a)

3,500,000‌

3,505,092‌

Air

Canada

Pass

Through

Trust,

Series

2013-1,

Class

A,

4.13%,

5/15/2025

(a)

1,284,585‌

1,302,893‌

American

Airlines

Pass

Through

Trust,

Series

2013-2,

Class

A,

4.95%,

1/15/2023

182,255‌

185,955‌

American

Airlines,

Inc.

Pass

Through

Trust,

Series

2015-1,

Class

B,

3.70%,

5/1/2023

1,051,022‌

1,035,401‌

Dycom

Industries,

Inc.,

4.50%,

4/15/2029

(a)

1,000,000‌

1,016,250‌

General

Electric

Co.,

Series

D,

3.45%,

Perpetual

(3MO

LIBOR

+

333.0bps)

(b)

500,000‌

488,646‌

General

Electric

Co.,

4.10%,

Perpetual

(b)

600,000‌

560,082‌

Prime

Security

Services

Borrower

LLC,

5.75%,

4/15/2026

(a)

2,000,000‌

2,141,800‌

Seaspan

Corp.,

6.50%,

4/26/2026

2,000,000‌

2,149,752‌

Seaspan

Corp.,

5.50%,

8/1/2029

(a)

1,000,000‌

1,011,160‌

Stena

International

SA,

5.75%,

3/1/2024

(a)

3,730,000‌

3,854,936‌

Textron

Financial

Corp.,

1.86%,

2/15/2042

(3MO

LIBOR

+

173.5bps)

(a),(b)

2,600,000‌

2,294,500‌

Union

Pacific

Corp.,

2.95%,

3/10/2052

1,000,000‌

1,026,894‌

United

Airlines

Pass

Through

Trust,

Series

2016-2,

Class

A,

3.10%,

4/7/2030

788,552‌

791,305‌

United

Airlines,

Inc.,

4.38%,

4/15/2026

(a)

50,000‌

51,786‌

US

Airways

Pass

Through

Trust,

Series

2011-1,

Class

A,

7.13%,

10/22/2023

402,679‌

428,345‌

US

Airways

Pass

Through

Trust,

Series

2012-2,

Class

A,

4.63%,

6/3/2025

1,748,395‌

1,762,378‌

24,594,055‌

Materials

—

3.49%

Alcoa

Nederland

Holding

BV,

5.50%,

12/15/2027

(a)

1,000,000‌

1,076,250‌

Ball

Corp.,

2.88%,

8/15/2030

1,000,000‌

962,500‌

Bemis

Co.,

Inc.,

2.63%,

6/19/2030

500,000‌

507,404‌

Canpack

SA,

3.88%,

11/15/2029

(a)

500,000‌

496,875‌

Coeur

Mining,

Inc.,

5.13%,

2/15/2029

(a)

1,000,000‌

970,150‌

Commercial

Metals

Co.,

3.88%,

2/15/2031

500,000‌

495,657‌

Domtar

Corp.,

6.25%,

9/1/2042

1,000,000‌

1,042,615‌

Freeport-McMoRan,

Inc.,

5.25%,

9/1/2029

1,000,000‌

1,095,750‌

Glencore

Funding

LLC,

2.63%,

9/23/2031

(a)

500,000‌

487,684‌

Kinross

Gold

Corp.,

6.88%,

9/1/2041

3,750,000‌

5,175,836‌

Mosaic

Co.

(The),

5.45%,

11/15/2033

1,000,000‌

1,252,911‌

Reynolds

Group

Issuer,

Inc.,

4.00%,

10/15/2027

(a)

1,000,000‌

979,750‌

Unigel

Luxembourg

SA,

8.75%,

10/1/2026

(a)

1,000,000‌

1,063,715‌

WRKCo

,

Inc.,

3.00%,

6/15/2033

250,000‌

259,785‌

15,866,882‌

Yorktown

Multi-Sector

Bond

Fund

Schedule

of

Investments

(continued)

October

31,

2021

-

(Unaudited)

Real

Estate

—

0.27%

Iron

Mountain,

Inc.,

5.25%,

7/15/2030

(a)

$

1,000,000‌

$

1,045,505‌

SBA

Communications

Corp.,

3.88%,

2/15/2027

(a)

200,000‌

206,506‌

1,252,011‌

Technology

—

3.09%

Broadcom,

Inc.,

4.15%,

11/15/2030

500,000‌

550,016‌

Broadcom,

Inc.,

4.15%,

11/15/2030

500,000‌

550,016‌

Broadcom,

Inc.,

2.60%,

2/15/2033

(a)

1,000,000‌

964,468‌

Broadcom,

Inc.,

3.50%,

2/15/2041

(a)

1,000,000‌

993,678‌

Dell

International

LLC/EMC

Corp.,

6.20%,

7/15/2030

1,000,000‌

1,277,260‌

Dell

International

LLC/EMC

Corp.,

8.35%,

7/15/2046

2,000,000‌

3,328,796‌

HP,

Inc.,

6.00%,

9/15/2041

2,538,000‌

3,355,370‌

Microchip

Technology,

Inc.,

4.25%,

9/1/2025

1,000,000‌

1,040,350‌

NCR

Corp.,

5.13%,

4/15/2029

(a)

1,000,000‌

1,023,830‌

Nielsen

Finance

LLC,

4.75%,

7/15/2031

(a)

1,000,000‌

975,850‌

14,059,634‌

Utilities

—

4.07%

AEP

Texas,

Inc.,

Series

I,

2.10%,

7/1/2030

500,000‌

484,801‌

Appalachian

Power

Co.,

Series

Z,

3.70%,

5/1/2050

1,000,000‌

1,106,982‌

Dayton

Power

&

Light

Co.

(The),

3.95%,

6/15/2049

1,000,000‌

1,156,364‌

Duke

Energy

Progress

LLC,

2.50%,

8/15/2050

1,000,000‌

931,352‌

Kentucky

Utilities

Co.,

3.30%,

6/1/2050

1,000,000‌

1,082,116‌

NextEra

Energy

Capital

Holdings,

Inc.,

2.20%,

10/1/2066

(3MO

LIBOR

+

206.7bps)

(b)

2,750,000‌

2,613,910‌

NRG

Energy,

Inc.,

4.45%,

6/15/2029

(a)

1,000,000‌

1,096,853‌

Pacific

Gas

and

Electric

Co.,

4.25%,

3/15/2046

500,000‌

509,282‌

Pacific

Gas

and

Electric

Co.,

3.50%,

8/1/2050

500,000‌

475,950‌

PPL

Capital

Funding,

Inc.,

Series

A,

2.80%,

3/30/2067

(3MO

LIBOR

+

266.5bps)

(b)

5,000,000‌

4,800,000‌

Southern

California

Edison

Co.,

Series

B,

4.88%,

3/1/2049

1,000,000‌

1,260,426‌

Topaz

Solar

Farms

LLC,

5.75%,

9/30/2039

(a)

949,592‌

1,154,566‌

WEC

Energy

Group,

Inc.,

2.24%,

5/15/2067

(3MO

LIBOR

+

211.2bps)

(b)

2,000,000‌

1,875,000‌

18,547,602‌

Total

Corporate

Bonds

and

Notes

(Cost $332,414,983)

351,752,399‌

Principal

Amount

Fair

Value

ASSET

BACKED

SECURITIES

—

12.55%

American

Credit

Acceptance

Receivables

Trust,

Series

2019-2,

Class

E,

4.29%,

6/12/2025

(a)

2,000,000‌

2,076,042‌

American

Credit

Acceptance

Receivables

Trust,

Series

2019-3,

Class

F,

5.42%,

5/12/2026

(a)

550,000‌

571,026‌

American

Credit

Acceptance

Receivables

Trust,

Series

2021-2,

Class

E,

2.54%,

7/13/2027

(a)

1,000,000‌

992,376‌

American

Credit

Acceptance

Receivables

Trust,

Series

2021-3,

Class

E,

2.56%,

11/15/2027

(a)

1,000,000‌

986,753‌

American

Credit

Acceptance

Receivables

Trust,

Series

2021-4,

Class

E,

3.12%,

2/14/2028

(a)

1,000,000‌

1,002,647‌

Yorktown

Multi-Sector

Bond

Fund

Schedule

of

Investments

(continued)

October

31,

2021

-

(Unaudited)

Applebee's/IHOP

Funding

LLC,

Series

2019-1A,

Class

A2I,

4.19%,

6/5/2024

(a)

$

858,330‌

$

871,522‌

CarNow

Auto

Receivables

Trust,

Series

2021-1A,

Class

D,

3.64%,

2/17/2026

(a)

1,000,000‌

1,002,497‌

Carvana

Auto

Receivables

Trust,

Series

2019-2A,

Class

E,

5.01%,

4/15/2026

(a)

750,000‌

792,646‌

Carvana

Auto

Receivables

Trust,

Series

2020-N1A,

Class

E,

5.20%,

7/15/2027

(a)

1,000,000‌

1,057,982‌

Carvana

Auto

Receivables

Trust,

Series

2021-N3,

Class

E,

3.16%,

6/12/2028

(a)

1,250,000‌

1,241,449‌

Conn's

Receivables

Funding

LLC,

Series

2019-B,

Class

C,

4.60%,

11/15/2021

(a)

848,940‌

852,187‌

Continental

Credit

Card

ABS,

Series

2019-1A,

Class

C,

6.16%,

3/15/2023

(a)

3,000,000‌

3,104,783‌

CPS

Auto

Receivables

Trust,

Series

2019-C,

Class

E,

4.30%,

9/15/2023

(a)

2,000,000‌

2,074,401‌

DT

Auto

Owner

Trust,

Series

2019-3A,

Class

E,

3.85%,

2/15/2023

(a)

2,750,000‌

2,844,229‌

DT

Auto

Owner

Trust,

Series

2020-2A,

Class

D,

4.73%,

3/16/2026

(a)

500,000‌

534,098‌

Exeter

Automobile

Receivables

Trust,

Series

2021-1A,

Class

E,

2.21%,

2/15/2028

(a)

1,155,000‌

1,145,884‌

Exeter

Automobile

Receivables

Trust,

Series

2021-2A,

Class

E,

2.90%,

7/17/2028

(a)

1,000,000‌

999,905‌

Exeter

Automobile

Receivables

Trust,

Series

2021-3A,

Class

E,

3.04%,

12/15/2028

(a)

1,000,000‌

994,875‌

First

Investors

Auto

Owner

Trust,

Series

2019-2A,

Class

F,

5.69%,

10/16/2023

(a)

2,000,000‌

2,062,214‌

Flagship

Credit

Auto

Trust,

Series

2018-3,

Class

E,

5.28%,

12/15/2025

(a)

2,000,000‌

2,124,495‌

Flagship

Credit

Auto

Trust,

Series

2021-2,

Class

E,

3.16%,

9/15/2028

(a)

1,150,000‌

1,145,868‌

Foursight

Capital

Automobile

Receivables

Trust,

Series

2021-1,

Class

E,

2.98%,

4/15/2027

(a)

1,270,000‌

1,257,718‌

Foursight

Capital

Automobile

Receivables

Trust,

Series

2021-2,

Class

E,

3.35%,

10/15/2027

(a)

500,000‌

496,102‌

GLS

Auto

Receivables

Issuer

Trust,

Series

2019-3A,

Class

D,

3.84%,

5/15/2026

(a)

3,000,000‌

3,082,732‌

Helios

Issuer

LLC,

Series

2021-A,

Class

B,

3.15%,

2/20/2048

(a)

901,082‌

890,169‌

HERO

Funding

Trust,

Series

2021-1A,

Class

B,

4.00%,

9/20/2051

(a)

482,719‌

483,014‌

Loanpal

Solar

Loan

Ltd.,

Series

2021-3GS,

Class

C,

3.50%,

12/20/2047

(a)

1,000,000‌

981,597‌

Loanpal

Solar

Loan

Ltd.,

Series

2021-2GS,

Class

C,

3.50%,

3/20/2048

(a)

1,000,000‌

961,973‌

Longtrain

Leasing

III

LLC,

Series

2015-1A,

Class

A2,

4.06%,

1/15/2045

(a)

980,190‌

985,094‌

METAL

Cayman

LLC,

Series

2017-1,

Class

B,

6.50%,

10/15/2042

(a)

3,702,368‌

2,081,308‌

Mosaic

Solar

Loan

Trust,

Series

2021-1A,

Class

D,

3.71%,

12/20/2046

(a)

1,000,000‌

997,807‌

Mosaic

Solar

Loans

LLC,

Series

2017-2A,

Class

D,

0.00%,

6/22/2043

(a)

85,629‌

85,446‌

Pawnee

Equipment

Receivables

LLC,

Series

2019-1,

Class

E,

3.80%,

1/15/2026

(a)

467,000‌

457,538‌

Planet

Fitness

Master

Issuer

LLC,

Series

2018-1A,

Class

A2I,

4.26%,

9/5/2048

(a)

465,600‌

467,201‌

Purchasing

Power

Funding

LLC,

Series

2021-A,

Class

C,

2.53%,

10/15/2025

(a)

1,000,000‌

1,006,379‌

Regatta

VI

Funding

Ltd.,

Series

2016-1A,

Class

CR2,

2.28%,

4/20/2034

(a),(b)

1,000,000‌

1,002,862‌

Regatta

XVIII

Funding

Ltd.,

Series

2021-1A,

Class

C,

1.87%,

1/15/2034

(a),(b)

1,000,000‌

1,000,016‌

Yorktown

Multi-Sector

Bond

Fund

Schedule

of

Investments

(continued)

October

31,

2021

-

(Unaudited)

Sapphire

Aviation

Finance

I

Ltd.,

Series

2018-1A,

Class

C,

7.39%,

3/15/2040

(a)

$

2,855,075‌

$

1,642,973‌

SCF

Equipment

Leasing

LLC,

Series

2021-1A,

Class

E,

3.56%,

8/20/2032

(a)

750,000‌

739,891‌

Trinity

Rail

Leasing

2021

LLC,

Series

2021-1A,

Class

B,

3.08%,

7/19/2051

(a)

500,000‌

497,937‌

TRP

LLC,

Series

2021-2,

Class

B,

3.08%,

6/19/2051

(a)

950,000‌

945,402‌

United

Auto

Credit

Securitization

Trust,

Series

2019-1,

Class

E,

4.29%,

8/12/2024

(a)

500,000‌

503,647‌

US

Auto

Funding

LLC,

Series

2019-1A,

Class

D,

8.06%,

11/15/2025

(a)

3,000,000‌

3,099,750‌

US

Auto

Funding

LLC,

Series

2021-1A,

Class

C,

2.20%,

5/15/2026

(a)

1,125,000‌

1,113,035‌

USQ

Rail

II

LLC,

Series

2021-3,

Class

B,

2.98%,

6/28/2051

(a)

500,000‌

507,640‌

Westlake

Automobile

Receivables

Trust,

Series

2018-3A,

Class

F,

6.02%,

2/18/2025

(a)

3,255,000‌

3,362,414‌

Total

Asset

Backed

Securities

(Cost $58,427,965)

57,127,524‌

Principal

Amount

Fair

Value

U.S.

GOVERNMENT

&

AGENCIES

—

4.40%

Fannie

Mae,

Pool

#BP2175,

3.00%,

2/1/2035

816,605‌

866,454‌

Fannie

Mae,

Pool

#MA4191,

2.00%,

11/1/2050

873,385‌

869,973‌

Fannie

Mae,

Pool

#BR2084,

1.90%,

6/1/2051

(b)

971,334‌

990,158‌

Fannie

Mae,

Pool

#BT3256,

2.50%,

7/1/2051

994,802‌

1,028,458‌

Fannie

Mae,

Pool

#BT1339,

2.50%,

7/1/2051

1,961,799‌

2,021,170‌

Fannie

Mae,

Pool

#BQ7422,

2.50%,

8/1/2051

994,979‌

1,037,984‌

Federal

Agricultural

Mortgage

Corp.,

3.05%,

6/29/2032

500,000‌

563,566‌

Federal

Farm

Credit

Bank,

2.75%,

6/12/2034

1,000,000‌

1,098,229‌

Federal

Farm

Credit

Bank,

3.25%,

12/4/2035

530,000‌

610,114‌

Federal

Farm

Credit

Bank,

2.13%,

5/21/2040

1,000,000‌

969,957‌

Federal

Farm

Credit

Bank,

1.95%,

8/13/2040

1,000,000‌

946,338‌

Federal

Farm

Credit

Bank,

2.07%,

12/21/2040

500,000‌

478,266‌

Federal

Farm

Credit

Banks

Funding

Corp.,

2.29%,

6/28/2034

1,000,000‌

994,585‌

Federal

Home

Loan

Bank,

2.01%,

7/16/2040

1,000,000‌

953,753‌

Federal

Home

Loan

Mortgage

Corp.,

1.75%,

7/27/2035

1,500,000‌

1,446,774‌

Freddie

Mac,

Pool

#RB5135,

2.00%,

11/1/2041

1,000,000‌

1,019,277‌

Freddie

Mac,

Pool

#RA2314,

3.50%,

3/1/2050

565,964‌

604,098‌

Freddie

Mac,

Pool

#RA2657,

3.50%,

5/1/2050

1,156,637‌

1,241,425‌

Freddie

Mac,

Pool

#SD0430,

2.50%,

8/1/2050

819,771‌

846,526‌

Freddie

Mac,

Pool

#QC3907,

2.50%,

7/1/2051

979,283‌

1,010,278‌

Tennessee

Valley

Authority,

3.50%,

12/15/2042

387,000‌

453,129‌

Total

U.S.

Government

&

Agencies

(Cost $20,461,996)

20,050,512��

Principal

Amount

Fair

Value

COLLATERALIZED

LOAN

OBLIGATIONS

—

5.06%

Apex

Credit

CLO

Ltd.,

Series

2018-1A,

Class

B,

1.72%,

4/25/2031

(3MO

LIBOR

+

160.0bps)

(a),(b)

1,190,000‌

1,192,905‌

Apex

Credit

CLO

Ltd.,

Series

2018-2A,

Class

C2R,

2.73%,

10/20/2031

(a),(b)

420,000‌

419,997‌

Yorktown

Multi-Sector

Bond

Fund

Schedule

of

Investments

(continued)

October

31,

2021

-

(Unaudited)

Apex

Credit

CLO

Ltd.,

Series

2019-2A,

Class

B,

2.22%,

10/25/2032

(3MO

LIBOR

+

210.0bps)

(a),(b)

$

2,100,000‌

$

2,103,952‌

Atrium

XII,

Series

2012-A,

Class

CR,

1.78%,

4/22/2027

(3MO

LIBOR

+

165.0bps)

(a),(b)

2,500,000‌

2,489,630‌

Carlyle

Global

Market

Strategies

CLO,

Series

2015-3A,

Class

BR,

2.04%,

7/28/2028

(a),(b)

1,000,000‌

1,000,733‌

Carlyle

Global

Market

Strategies

CLO,

Series

2017-1A,

Class

BR,

2.33%,

4/20/2031

(a),(b)

1,000,000‌

999,996‌

Carlyle

Global

Market

Strategies

CLO,

Series

2016-3A,

Class

CRR,

2.33%,

7/20/2034

(a),(b)

375,000‌

374,999‌

Hildene

TruPS

Financials

Note

Securitization

Ltd.,

Series

2019-2A,

Class

A2,

2.60%,

5/22/2039

(3MO

LIBOR

+

245.0bps)

(a),(b)

3,000,000‌

2,985,000‌

HPS

Loan

Management

Ltd.,

Series

2010A-16,

Class

BRR,

2.18%,

4/20/2034

(a),(b)

1,000,000‌

999,996‌

Madison

Park

Funding

Ltd.,

Series

2016-21A,

Class

BRR,

2.33%,

10/15/2032

(a),(b)

1,000,000‌

1,000,000‌

Madison

Park

Funding

Ltd.,

Series

2021-38A,

Class

C,

2.04%,

7/17/2034

(a),(b)

1,000,000‌

999,966‌

Oaktree

CLO

Ltd.,

Series

2019-4A,

Class

C,

3.08%,

10/20/2032

(3MO

LIBOR

+

295.0bps)

(a),(b)

1,500,000‌

1,500,000‌

Rockford

Tower

CLO

Ltd.,

Series

2019-2A,

Class

CR,

0.00%,

8/20/2032

(3MO

LIBOR

+

200.0bps)

(a),(b)

1,000,000‌

999,995‌

Wellfleet

CLO

Ltd.,

Series

2016-1A,

Class

CR,

2.13%,

4/20/2028

(3MO

LIBOR

+

200.0bps)

(a),(b)

3,000,000‌

2,985,258‌

Zais

CLO5

Ltd.,

Series

2016-2A,

Class

B,

3.42%,

10/15/2028

(3MO

LIBOR

+

330.0bps)

(a)

3,000,000‌

2,964,927‌

Total

Collateralized

Loan

Obligations

(Cost $22,910,018)

23,017,354‌

Total

Investments

—

99.29%

(Cost

$434,214,962)

451,947,789‌

Other

Assets

in

Excess

of

Liabilities 

—

 0.71%

3,230,032‌

Net

Assets

—

100.00%

$

455,177,821‌

(a)

Security

exempt

from

registration

under

Rule

144A

or

Section

4(2)

of

the

Securities

Act

of

1933.

The

security

may

be

resold

in

transactions

exempt

from

registration,

normally

to

qualified

institutional

buyers.

The

total

fair

value

of

these

securities

as

October

31,

2021

was

$217,357,603,

representing

47.75%

of

net

assets.

(b)

Variable

rate

security.

Interest

rate

resets

periodically.

The

rate

shown

is

the

effective

interest

rate

as

of

October

31,

2021.

For

securities

based

on

a

published

reference

rate

and

spread,

the

reference

rate

and

spread

(in

basis

points)

are

indicated

parenthetically.

Certain

variable

rate

securities

are

not

based

on

a

published

reference

rate

and

spread

but

are

determined

by

the

issuer

or

agent

and

are

based

on

current

market

conditions.

These

securities,

therefore,

do

not

indicate

a

reference

rate

and

spread.

Yorktown

Short

Term

Bond

Fund

Schedule

of

Investments

October

31,

2021

-

(Unaudited)

Principal

Amount

Fair

Value

CORPORATE

BONDS

AND

NOTES

—

63.31%

Communications

—

0.93%

AT&T,

Inc.,

0.69%,

3/25/2024

(SOFRRATE

+

64.0bps)

(a)

$

1,000,000‌

$

1,001,047‌

Expedia

Group,

Inc.,

5.00%,

2/15/2026

213,000‌

239,284‌

NBN

Co.

Ltd.,

MTN,

1.45%,

5/5/2026

(b)

1,000,000‌

988,892‌

Verizon

Communications,

Inc.,

1.25%,

5/15/2025

(3MO

LIBOR

+

110.0bps)

(a)

2,000,000‌

2,045,976‌

Verizon

Communications,

Inc.,

0.84%,

3/20/2026

(SOFRRATE

+

79.0bps)

(a)

1,389,000‌

1,414,787‌

5,689,986‌

Consumer

Discretionary

—

5.82%

AutoNation,

Inc.,

3.50%,

11/15/2024

4,000,000‌

4,249,321‌

Daimler

Finance

North

America

LLC,

1.05%,

2/15/2022

(3MO

LIBOR

+

90.0bps)

(a),(b)

1,000,000‌

1,002,404‌

eBay,

Inc.,

1.40%,

5/10/2026

500,000‌

496,374‌

Foot

Locker,

Inc.,

8.50%,

1/15/2022

287,000‌

292,782‌

Ford

Motor

Credit

Co.,

LLC,

5.60%,

1/7/2022

1,000,000‌

1,008,450‌

Ford

Motor

Credit

Co.,

LLC,

1.40%,

3/28/2022

(3MO

LIBOR

+

127.0bps)

(a)

2,000,000‌

2,001,547‌

General

Motors

Financial

Co.,

Inc.,

1.44%,

6/30/2022

(3MO

LIBOR

+

131.0bps)

(a)

2,000,000‌

2,012,866‌

General

Motors

Financial

Co.,

Inc.,

1.12%,

1/5/2023

(3MO

LIBOR

+

99.0bps)

(a)

750,000‌

755,240‌

General

Motors

Financial

Co.,

Inc.,

1.20%,

10/15/2024

1,000,000‌

998,587‌

General

Motors

Financial

Co.,

Inc.,

1.25%,

1/8/2026

1,000,000‌

981,417‌

General

Motors

Financial

Co.,

Inc.,

1.50%,

6/10/2026

1,000,000‌

984,941‌

Harley-Davidson

Financial

Services,

Inc.,

4.05%,

2/4/2022

(b)

1,575,000‌

1,589,104‌

Home

Depot,

Inc.

(The),

0.43%,

3/1/2022

(3MO

LIBOR

+

31.0bps)

(a)

1,200,000‌

1,201,127‌

Hyatt

Hotels

Corp.,

1.30%,

10/1/2023

500,000‌

500,503‌

Hyundai

Capital

America,

3.25%,

9/20/2022

(b)

2,080,000‌

2,127,157‌

Hyundai

Capital

America,

2.85%,

11/1/2022

(b)

500,000‌

511,044‌

Hyundai

Capital

America,

1.25%,

9/18/2023

(b)

500,000‌

502,314‌

Hyundai

Capital

America,

4.30%,

2/1/2024

(b)

1,000,000‌

1,065,810‌

Hyundai

Capital

America,

0.88%,

6/14/2024

(b)

500,000‌

494,588‌

Hyundai

Capital

America,

1.00%,

9/17/2024

(b)

500,000‌

495,238‌

Kia

Corp.,

1.00%,

4/16/2024

(b)

1,000,000‌

996,476‌

Marriott

International,

Inc.,

3.75%,

3/15/2025

2,000,000‌

2,126,894‌

Nissan

Motor

Acceptance

Co.,

LLC,

1.13%,

9/16/2024

(b)

500,000‌

496,210‌

Nissan

Motor

Acceptance

Corp.,

0.82%,

9/28/2022

(3MO

LIBOR

+

69.0bps)

(a),(b)

2,000,000‌

2,002,941‌

Nissan

Motor

Acceptance

Corp.,

0.76%,

3/8/2024

(3MO

LIBOR

+

64.0bps)

(a),(b)

805,000‌

805,897‌

Nissan

Motor

Co.

Ltd.,

3.04%,

9/15/2023

(b)

1,100,000‌

1,138,063‌

Nissan

Motor

Co.

Ltd.,

3.52%,

9/17/2025

(b)

2,000,000‌

2,104,762‌

QVC,

Inc.,

4.38%,

3/15/2023

2,636,000‌

2,738,145‌

35,680,202‌

Consumer

Staples

—

1.77%

7-Eleven,

Inc.,

0.80%,

2/10/2024

(b)

1,000,000‌

993,354‌

BAT

Capital

Corp.,

1.01%,

8/15/2022

(3MO

LIBOR

+

88.0bps)

(a)

500,000‌

502,594‌

Yorktown

Short

Term

Bond

Fund

Schedule

of

Investments

(continued)

October

31,

2021

-

(Unaudited)

Bunge

Ltd.

Finance

Corp.,

4.35%,

3/15/2024

$

3,000,000‌

$

3,224,352‌

JD

Peet's

NV,

1.38%,

1/15/2027

(b)

250,000‌

244,196‌

Mitsubishi

Corp.,

1.13%,

7/15/2026

(b)

500,000‌

488,966‌

Mondelez

International

Holdings

Netherlands

BV,

1.25%,

9/24/2026

(b)

1,000,000‌

980,600‌

Viterra

Finance

BV,

2.00%,

4/21/2026

(b)

1,000,000‌

1,000,551‌

Walgreen

Co.,

3.10%,

9/15/2022

1,000,000‌

1,023,272‌

Walgreens

Boots

Alliance,

Inc.,

3.80%,

11/18/2024

2,250,000‌

2,414,434‌

10,872,319‌

Energy

—

0.20%

Chevron

Corp.,

1.55%,

5/11/2025

1,000,000‌

1,015,205‌

Saudi

Arabian

Oil

Co.,

1.25%,

11/24/2023

(b)

200,000‌

200,754‌

1,215,959‌

Financials

—

40.50%

AerCap

Ireland

Capital,

3.50%,

1/15/2025

2,000,000‌

2,103,685‌

AerCap

Ireland

Capital

DAC,

1.65%,

10/29/2024

1,000,000‌

1,002,526‌

AIB

Group

PLC,

MTN,

4.26%,

4/10/2025

(3MO

LIBOR

+

187.4bps)

(a),(b)

3,000,000‌

3,191,968‌

AIG

Global

Funding,

0.65%,

6/17/2024

(b)

1,000,000‌

990,116‌

Air

Lease

Corp.,

2.25%,

1/15/2023

250,000‌

254,552‌

Air

Lease

Corp.,

MTN,

0.70%,

2/15/2024

1,000,000‌

988,866‌

Air

Lease

Corp.,

0.80%,

8/18/2024

1,000,000‌

983,958‌

Air

Lease

Corp.,

1.88%,

8/15/2026

500,000‌

494,932‌

Allegiance

Bank,

5.25%,

12/15/2027

(3MO

LIBOR

+

303.0bps)

(a)

50,000‌

50,850‌

Allied

World

Assurance

Co.

Holdings

Ltd.,

4.35%,

10/29/2025

1,800,000‌

1,945,499‌

Ally

Financial,

Inc.,

4.63%,

5/19/2022

2,000,000‌

2,044,503‌

Ally

Financial,

Inc.,

3.05%,

6/5/2023

500,000‌

515,951‌

Antares

Holdings

LP,

6.00%,

8/15/2023

(b)

3,000,000‌

3,232,338‌

Antares

Holdings

LP,

3.95%,

7/15/2026

(a)

1,500,000‌

1,564,335‌

Associated

Banc-Corp,

4.25%,

1/15/2025

1,401,000‌

1,497,269‌

Athene

Global

Funding,

MTN,

4.00%,

1/25/2022

(b)

2,000,000‌

2,017,208‌

Athene

Global

Funding,

1.36%,

7/1/2022

(3MO

LIBOR

+

123.0bps)

(a),(b)

2,000,000‌

2,015,089‌

Athene

Global

Funding,

1.20%,

10/13/2023

(b)

500,000‌

504,205‌

Athene

Global

Funding,

2.75%,

6/25/2024

(b)

1,250,000‌

1,302,274‌

Athene

Global

Funding,

0.61%,

8/19/2024

(SOFRRATE

+

56.0bps)

(a),(b)

1,000,000‌

1,000,914‌

Aviation

Capital

Group

LLC,

1.95%,

1/30/2026

(b)

1,000,000‌

987,525‌

Avolon

Holdings

Funding

Ltd.,

3.63%,

5/1/2022

(b)

1,000,000‌

1,011,159‌

Avolon

Holdings

Funding

Ltd.,

2.13%,

2/21/2026

(b)

1,000,000‌

989,236‌

Banco

Santander

Chile,

2.70%,

1/10/2025

(b)

150,000‌

154,815‌

Banco

Santander

SA,

1.24%,

4/12/2023

(3MO

LIBOR

+

112.0bps)

(a)

1,200,000‌

1,214,903‌

Banco

Santander

SA,

2.75%,

5/28/2025

1,000,000‌

1,039,685‌

Banco

Santander

SA,

5.18%,

11/19/2025

400,000‌

449,610‌

Bank

of

America

Corp.,

1.12%,

4/24/2023

(3MO

LIBOR

+

100.0bps)

(a)

2,000,000‌

2,008,698‌

Bank

of

America

Corp.,

MTN,

0.52%,

6/14/2024

(a)

500,000‌

497,785‌

Bank

of

America

Corp.,

MTN,

0.77%,

12/1/2026

(a)

3,212,000‌

3,155,737‌

Bank

of

Ireland

Group

PLC,

4.50%,

11/25/2023

(b)

3,465,000‌

3,700,078‌

Bank

of

Nova

Scotia

(The),

1.30%,

6/11/2025

2,000,000‌

2,000,045‌

Bank

of

Nova

Scotia

(The),

0.59%,

3/2/2026

(SOFRRATE

+

54.5bps)

(a)

2,000,000‌

2,001,850‌

Barclays

PLC,

3.68%,

1/10/2023

1,000,000‌

1,005,944‌

Barclays

PLC,

MTN,

1.51%,

5/16/2024

(3MO

LIBOR

+

138.0bps)

(a)

1,000,000‌

1,015,909‌

Barclays

PLC,

MTN,

4.34%,

5/16/2024

(3MO

LIBOR

+

140.0bps)

(a)

2,000,000‌

2,104,953‌

BGC

Partners,

Inc.,

3.75%,

10/1/2024

4,000,000‌

4,228,839‌

Yorktown

Short

Term

Bond

Fund

Schedule

of

Investments

(continued)

October

31,

2021

-

(Unaudited)

BPCE

SA,

1.35%,

9/12/2023

(3MO

LIBOR

+

124.0bps)

(a),(b)

$

1,430,000‌

$

1,456,287‌

BPCE

SA,

2.38%,

1/14/2025

(b)

500,000‌

512,778‌

Brighthouse

Financial

Global

Funding,

MTN,

0.81%,

4/12/2024

(SOFRRATE

+76.0bps)

(a),(b)

1,000,000‌

1,008,727‌

Brighthouse

Financial

Global

Funding,

1.55%,

5/24/2026

(b)

1,000,000‌

994,073‌

Cadence

Bank

NA,

6.25%,

6/28/2029

(a)

135,000‌

144,911‌

Canadian

Imperial

Bank

of

Commerce,

MTN,

1.75%,

7/28/2022

(a)

171,000‌

172,568‌

Capital

One

Financial

Corp.,

2.60%,

5/11/2023

1,000,000‌

1,028,204‌

Charles

Schwab

Corp.

(The),

0.90%,

3/11/2026

250,000‌

245,510‌

Citadel

Finance

LLC,

3.38%,

3/9/2026

(b)

2,000,000‌

2,006,029‌

Citadel

LP,

5.38%,

1/17/2023

(b)

3,704,000‌

3,866,970‌

Citigroup,

Inc.,

0.82%,

6/9/2027

(SOFRRATE

+

77.0bps)

(a)

1,000,000‌

1,004,198‌

Citizens

Bank

NA,

0.93%,

5/26/2022

(3MO

LIBOR

+

81.0bps)

(a)

1,250,000‌

1,255,205‌

Citizens

Financial

Group,

Inc.,

4.30%,

12/3/2025

3,000,000‌

3,298,655‌

CNO

Financial

Group,

Inc.,

5.25%,

5/30/2025

3,404,000‌

3,804,306‌

CNO

Global

Funding,

1.75%,

10/7/2026

(b)

500,000‌

496,655‌

Credit

Agricole

SA,

1.14%,

4/24/2023

(3MO

LIBOR

+

102.0bps)

(a),(b)

1,000,000‌

1,012,808‌

Credit

Suisse

Group

AG,

1.35%,

6/12/2024

(3MO

LIBOR

+

124.0bps)

(a),(b)

4,000,000‌

4,056,785‌

Customers

Bancorp,

Inc.,

3.95%,

6/30/2022

3,510,000‌

3,565,617‌

Customers

Bancorp,

Inc.,

4.50%,

9/25/2024

3,000,000‌

3,199,724‌

Danske

Bank

A/S,

MTN,

1.17%,

9/12/2023

(3MO

LIBOR

+

106.0bps)

(a),(b)

2,000,000‌

2,021,266‌

Danske

Bank

A/S,

3.88%,

9/12/2023

(b)

3,000,000‌

3,156,470‌

Danske

Bank

A/S,

1.17%,

12/8/2023

(a),(b)

500,000‌

501,546‌

Dime

Community

Bancshares,

Inc.,

4.50%,

6/15/2027

(3MO

LIBOR

+

266.0bps)

(a)

2,195,000‌

2,198,527‌

Drawbridge

Special

Opportunities

Fund

LP,

3.88%,

2/15/2026

(b)

2,000,000‌

2,054,903‌

Eagle

Bancorp,

Inc.,

5.75%,

9/1/2024

610,000‌

656,581‌

Enstar

Group

Ltd.,

4.50%,

3/10/2022

1,000,000‌

1,010,020‌

Enterprise

Financial

Services

Corp.,

4.75%,

11/1/2026

(a)

250,000‌

250,000‌

Equitable

Financial

Life

Global

Funding,

1.40%,

7/7/2025

(b)

1,000,000‌

996,275‌

Equitable

Financial

Life

Global

Funding,

1.00%,

1/9/2026

(b)

500,000‌

487,452‌

F&G

Global

Funding,

0.90%,

9/20/2024

(b)

500,000‌

495,406‌

F&G

Global

Funding,

1.75%,

6/30/2026

(b)

500,000‌

498,896‌

Fairfax

Financial

Holdings,

Ltd.,

4.88%,

8/13/2024

(b)

2,000,000‌

2,162,639‌

Fidelity

&

Guaranty

Life

Holdings,

Inc.,

Class

B,

5.50%,

5/1/2025

(b)

3,000,000‌

3,380,578‌

First

Busey

Corp.,

3.75%,

5/25/2022

1,750,000‌

1,775,731‌

First

Horizon

National

Corp.,

3.55%,

5/26/2023

1,000,000‌

1,038,411‌

Flushing

Financial

Corp.,

5.25%,

12/15/2026

(3MO

LIBOR

+

344.0bps)

(a)

2,500,000‌

2,510,662‌

GA

Global

Funding

Trust,

1.00%,

4/8/2024

(b)

1,000,000‌

997,786‌

GA

Global

Funding

Trust,

1.63%,

1/15/2026

(b)

1,000,000‌

1,001,954‌

GE

Capital

International

Funding

Co.,

3.37%,

11/15/2025

200,000‌

215,850‌

Goldman

Sachs

Group,

Inc.

(The),

0.86%,

3/9/2027

(SOFRRATE

+

81.0bps)

(a)

1,000,000‌

1,003,936‌

Goldman

Sachs

Group,

Inc.

(The),

0.97%,

10/21/2027

(SOFRRATE

+

92.0bps)

(a)

2,000,000‌

2,002,722‌

Hilltop

Holdings,

Inc.,

5.00%,

4/15/2025

400,000‌

418,677‌

Home

Bancshares,

Inc.,

5.63%,

4/15/2027

(3MO

LIBOR

+

357.5bps)

(a)

572,000‌

580,672‌

HSBC

Holdings

PLC,

4.25%,

3/14/2024

1,000,000‌

1,065,194‌

HSBC

Holdings

PLC,

1.12%,

5/18/2024

(3MO

LIBOR

+

100.0bps)

(a)

1,000,000‌

1,009,960‌

Yorktown

Short

Term

Bond

Fund

Schedule

of

Investments

(continued)

October

31,

2021

-

(Unaudited)

HSBC

Holdings

PLC,

0.73%,

8/17/2024

$

200,000‌

$

199,230‌

HSBC

Holdings

PLC,

4.25%,

8/18/2025

1,313,000‌

1,424,127‌

HSBC

Holdings

PLC,

1.49%,

9/12/2026

(3MO

LIBOR

+

138.0bps)

(a)

1,500,000‌

1,548,363‌

Huntington

Bancshares,

Inc.,

2.63%,

8/6/2024

1,000,000‌

1,040,330‌

Infinity

Property

&

Casualty

Corp.,

5.00%,

9/19/2022

2,000,000‌

2,064,348‌

ING

Groep

NV,

1.06%,

4/1/2027

(SOFRRATE

+

101.0bps)

(a)

2,000,000‌

2,021,544‌

Intesa

Sanpaolo

SpA

,

3.38%,

1/12/2023

(b)

4,000,000‌

4,119,984‌

Intesa

Sanpaolo

SpA

,

3.25%,

9/23/2024

(b)

4,000,000‌

4,195,462‌

Jackson

National

Life

Global

Funding,

0.86%,

6/27/2022

(3MO

LIBOR

+

73.0bps)

(a),(b)

1,000,000‌

1,004,354‌

JPMorgan

Chase

&

Co.,

1.51%,

6/1/2024

(SOFRRATE

+

145.5bps)

(a)

500,000‌

506,414‌

JPMorgan

Chase

&

Co.,

0.94%,

4/22/2027

(SOFRRATE

+

88.5bps)

(a)

2,000,000‌

2,028,535‌

JPMorgan

Chase

&

Co.,

MTN,

2.00%,

6/22/2028

(a)

365,000‌

360,635‌

KeyCorp

Capital,

0.87%,

7/1/2028

(3MO

LIBOR

+

74.0bps)

(a)

1,000,000‌

972,472‌

Lloyds

Banking

Group

PLC,

2.86%,

3/17/2023

(3MO

LIBOR

+

124.9bps)

(a)

2,000,000‌

2,017,341‌

Lloyds

Banking

Group

PLC,

1.33%,

6/15/2023

(H15T1Y

+

110.0bps)

(a)

500,000‌

502,345‌

Lloyds

Banking

Group

PLC,

2.91%,

11/7/2023

(3MO

LIBOR

+

81.0bps)

(a)

3,000,000‌

3,067,733‌

Lloyds

Banking

Group

PLC,

4.58%,

12/10/2025

(b)

250,000‌

276,533‌

Macquarie

Group

Ltd.,

1.14%,

11/28/2023

(3MO

LIBOR

+

102.0bps)

(a),(b)

2,651,000‌

2,671,682‌

Macquarie

Group

Ltd.,

1.48%,

3/27/2024

(3MO

LIBOR

+

135.0bps)

(a),(b)

2,000,000‌

2,029,458‌

Macquarie

Group

Ltd.,

4.88%,

6/10/2025

(b)

285,000‌

314,000‌

Met

Tower

Global

Funding,

MTN,

1.25%,

9/14/2026

(b)

1,000,000‌

986,131‌

Metropolitan

Life

Global

Funding

I,

MTN,

0.62%,

1/13/2023

(SOFRRATE

+

57.0bps)

(a),(b)

500,000‌

502,172‌

Metropolitan

Life

Global

Funding

I,

0.37%,

1/7/2024

(SOFRRATE

+

32.0bps)

(a),(b)

1,000,000‌

1,005,149‌

Mitsubishi

UFJ

Financial

Group,

Inc.,

1.41%,

7/17/2025

1,000,000‌

998,334‌

Mitsubishi

UFJ

Financial

Group,

Inc.,

0.95%,

7/19/2025

(a)

1,000,000‌

994,286‌

Mizuho

Financial

Group,

Inc.,

0.96%,

7/16/2023

(3MO

LIBOR

+

84.0bps)

(a)

975,000‌

980,221‌

Nationwide

Building

Society,

MTN,

3.62%,

4/26/2023

(3MO

LIBOR

+

181.1bps)

(a),(b)

3,000,000‌

3,043,008‌

Nationwide

Mutual

Insurance

Co.,

2.41%,

12/15/2024

(3MO

LIBOR

+

229.0bps)

(a),(b)

3,245,000‌

3,246,918‌

NatWest

Markets

PLC,

1.71%,

9/29/2022

(3MO

LIBOR

+

140.0bps)

(a),(b)

1,000,000‌

1,013,128‌

New

York

Life

Global

Funding,

0.27%,

2/2/2023

(SOFRRATE

+

22.0bps)

(a),(b)

1,000,000‌

1,001,628‌

Nomura

Holdings,

Inc.,

1.65%,

7/14/2026

1,000,000‌

984,833‌

Nordea

Bank

Abp

,

1.06%,

8/30/2023

(3MO

LIBOR

+

94.0bps)

(a),(b)

1,000,000‌

1,011,261‌

Nordea

Bank

Abp

,

MTN,

1.50%,

9/30/2026

(b)

1,000,000‌

985,138‌

Pacific

Premier

Bancorp,

Inc.,

5.75%,

9/3/2024

(b)

1,700,000‌

1,839,323‌

Park

Aerospace

Holdings

Ltd.,

4.50%,

3/15/2023

(b)

2,500,000‌

2,604,311‌

Pershing

Square

Holdings

Ltd.,

5.50%,

7/15/2022

(b)

3,000,000‌

3,080,805‌

Pinnacle

Financial

Partners,

Inc.,

5.25%,

11/16/2026

(3MO

LIBOR

+

388.4bps)

(a),(b)

255,000‌

255,180‌

Pricoa

Global

Funding

I,

MTN,

1.20%,

9/1/2026

(b)

500,000‌

492,444‌

Principal

Life

Global

Funding

II,

1.25%,

6/23/2025

(b)

1,000,000‌

992,678‌

Protective

Life

Global

Funding,

MTN,

1.30%,

9/20/2026

(b)

500,000‌

490,245‌

Reliance

Standard

Life

Global

Funding

II,

2.15%,

1/21/2023

(b)

500,000‌

509,418‌

Reliance

Standard

Life

Global

Funding

II,

2.50%,

10/30/2024

(b)

500,000‌

518,015‌

Yorktown

Short

Term

Bond

Fund

Schedule

of

Investments

(continued)

October

31,

2021

-

(Unaudited)

Reliance

Standard

Life

Global

Funding

II,

MTN,

1.51%,

9/28/2026

(b)

$

2,000,000‌

$

1,971,146‌

Royal

Bank

of

Scotland

Group

PLC,

3.50%,

5/15/2023

2,000,000‌

2,029,693‌

Royal

Bank

of

Scotland

Group

PLC,

5.13%,

5/28/2024

1,000,000‌

1,092,586‌

Royal

Bank

of

Scotland

Group

PLC,

1.68%,

6/25/2024

(3MO

LIBOR

+

155.0bps)

(a)

3,000,000‌

3,061,958‌

Santander

Holdings

USA,

Inc.,

3.50%,

6/7/2024

2,500,000‌

2,640,411‌

Santander

UK

PLC,

5.00%,

11/7/2023

(b)

1,000,000‌

1,074,620‌

Security

Benefit

Global

Funding,

MTN,

1.25%,

5/17/2024

(b)

1,000,000‌

1,000,792‌

Simmons

First

National

Corp.,

5.00%,

4/1/2028

(3MO

LIBOR

+

215.0bps)

(a)

2,826,000‌

2,932,825‌

SMBC

Aviation

Capital

Finance

DAC,

1.90%,

10/15/2026

(b)

1,000,000‌

996,370‌

Societe

Generale

SA,

5.00%,

1/17/2024

(b)

3,345,000‌

3,592,727‌

Societe

Generale

SA,

4.25%,

4/14/2025

(b)

3,000,000‌

3,214,043‌

Societe

Generale

SA,

MTN,

1.79%,

6/9/2027

(a),(b)

500,000‌

492,422‌

Spend

Life

Wisely

Co.,

Inc.,

5.88%,

3/15/2027

(3MO

LIBOR

+

374.2bps)

(a),(b)

1,000,000‌

1,010,255‌

Standard

Chartered

PLC,

3.95%,

1/11/2023

(b)

2,000,000‌

2,064,015‌

Standard

Chartered

PLC,

3.95%,

1/11/2023

1,250,000‌

1,290,009‌

Standard

Chartered

PLC,

4.25%,

1/20/2023

(3MO

LIBOR

+

115.0bps)

(a),(b)

2,000,000‌

2,015,352‌

Stifel

Financial

Corp.,

4.25%,

7/18/2024

3,000,000‌

3,238,821‌

Sumitomo

Mitsui

Financial

Group,

Inc.,

0.92%,

10/16/2023

(3MO

LIBOR

+

80.0bps)

(a)

1,000,000‌

1,012,890‌

Sumitomo

Mitsui

Financial

Group,

Inc.,

1.47%,

7/8/2025

500,000‌

500,326‌

Sumitomo

Mitsui

Trust

Bank

Ltd.,

MTN,

0.85%,

3/25/2024

(b)

1,000,000‌

996,229‌

Sumitomo

Mitsui

Trust

Bank

Ltd.,

MTN,

0.49%,

9/16/2024

(SOFRRATE

+

44.0bps)

(a),(b)

2,000,000‌

2,006,223‌

SunTrust

Bank,

3.20%,

4/1/2024

1,000,000‌

1,054,400‌

Synchrony

Financial,

4.38%,

3/19/2024

3,000,000‌

3,210,887‌

Synovus

Bank,

2.29%,

2/10/2023

(SOFRRATE

+

945.0bps)

(a)

250,000‌

250,855‌

TCF

National

Bank,

6.25%,

6/8/2022

1,000,000‌

1,029,926‌

Toronto-Dominion

Bank

(The),

MTN,

0.64%,

9/10/2026

(SOFRRATE

+

59.0bps)

(a)

1,000,000‌

1,007,288‌

Truist

Bank,

0.82%,

5/15/2027

(3MO

LIBOR

+

67.0bps)

(a)

1,500,000‌

1,471,958‌

UBS

AG/London,

0.50%,

8/9/2024

(SOFRRATE

+

45.0bps)

(a),(b)

1,000,000‌

1,005,731‌

UBS

Group

AG,

1.01%,

7/30/2024

(H15TY

+

83.0bps)

(a),(b)

1,000,000‌

1,001,539‌

UniCredit

SpA

,

MTN,

6.57%,

1/14/2022

(b)

2,000,000‌

2,022,578‌

UniCredit

SpA

,

MTN,

3.75%,

4/12/2022

(b)

4,500,000‌

4,562,148‌

United

Financial

Bancorp,

Inc.,

5.75%,

10/1/2024

2,100,000‌

2,282,385‌

Valley

National

Bancorp,

5.13%,

9/27/2023

1,030,000‌

1,107,293‌

Valley

National

Bancorp,

5.25%,

6/15/2030

(SOFRRATE

+

514.0bps)

(a)

70,000‌

74,650‌

Webster

Financial

Corp.,

4.38%,

2/15/2024

3,000,000‌

3,186,560‌

Wells

Fargo

&

Co.,

0.62%,

1/15/2027

(3MO

LIBOR

+

50.0bps)

(a)

2,000,000‌

1,943,369‌

WT

Holdings,

Inc.,

7.00%,

4/30/2023

(b)

3,000,000‌

3,090,894‌

248,325,623‌

Health

Care

—

1.93%

Blue

Cross

&

Blue

Shield

of

Minnesota,

3.79%,

5/1/2025

(b)

661,000‌

702,518‌

HCA,

Inc.,

5.00%,

3/15/2024

2,000,000‌

2,177,164‌

Highmark,

Inc.,

1.45%,

5/10/2026

(b)

500,000‌

492,602‌

Humana,

Inc.,

0.65%,

8/3/2023

1,000,000‌

999,381‌

McKesson

Corp.,

1.30%,

8/15/2026

1,000,000‌

980,868‌

Yorktown

Short

Term

Bond

Fund

Schedule

of

Investments

(continued)

October

31,

2021

-

(Unaudited)

PerkinElmer,

Inc.,

0.85%,

9/15/2024

$

500,000‌

$

496,336‌

Perrigo

Co.

PLC,

4.00%,

11/15/2023

3,000,000‌

3,122,287‌

Perrigo

Finance

Unlimited

Co.,

3.90%,

12/15/2024

2,250,000‌

2,380,113‌

Upjohn,

Inc.,

1.65%,

6/22/2025

(b)

500,000‌

501,119‌

11,852,388‌

Industrials

—

4.17%

Air

Canada

Pass

Through

Trust,

Series

2013-1,

Class

A,

4.13%,

5/15/2025

(b)

1,252,470‌

1,270,321‌

Air

Canada

Pass

Through

Trust,

Series

2017-1,

Class

B,

3.70%,

7/15/2026

(b)

706,349‌

687,705‌

American

Airlines

Pass

Through

Trust,

Series

2014-1,

Class

B,

4.38%,

10/1/2022

52,289‌

52,343‌

American

Airlines

Pass

Through

Trust,

Series

2013-2,

Class

A,

4.95%,

1/15/2023

506,669‌

516,954‌

American

Airlines

Pass

Through

Trust,

Series

2014-1,

Class

A,

3.70%,

10/1/2026

1,357,044‌

1,393,926‌

Ashtead

Capital,

Inc.,

1.50%,

8/12/2026

(b)

1,000,000‌

981,830‌

Boeing

Co.

(The),

4.51%,

5/1/2023

1,000,000‌

1,048,784‌

Boeing

Co.

(The),

1.43%,

2/4/2024

1,100,000‌

1,100,442‌

Boeing

Co.

(The),

2.20%,

2/4/2026

1,000,000‌

1,002,008‌

CNH

Industrial

Capital

LLC,

1.88%,

1/15/2026

1,000,000‌

1,008,914‌

Continental

Airlines

Pass

Through

Trust,

Series

2007-1,

Class

A,

5.98%,

4/19/2022

655,647‌

665,495‌

Continental

Airlines

Pass

Through

Trust,

Series

2007-1,

Class

B,

6.90%,

4/19/2022

238,154‌

239,679‌

Delta

Air

Lines

Pass

Through

Trust,

Series

2015-1,

Class

B,

4.25%,

7/30/2023

71,875‌

74,619‌

General

Electric

Co.,

MTN,

0.50%,

5/5/2026

(3MO

LIBOR

+

38.0bps)

(a)

975,000‌

966,554‌

Huntington

Ingalls

Industries,

Inc.,

0.67%,

8/16/2023

(b)

500,000‌

498,609‌

nVent

Finance

SARL,

3.95%,

4/15/2023

1,075,000‌

1,114,479‌

PACCAR

Financial

Corp.,

MTN,

1.10%,

5/11/2026

500,000‌

495,031‌

Penske

Truck

Leasing

Co.

LP,

1.20%,

11/15/2025

(b)

1,000,000‌

982,037‌

Penske

Truck

Leasing

Co.

LP,

1.70%,

6/15/2026

(b)

1,000,000‌

996,071‌

Rockwell

Automation,

Inc.,

0.35%,

8/15/2023

500,000‌

499,089‌

Triton

Container

International

Ltd.,

0.80%,

8/1/2023

(b)

555,000‌

553,024‌

Triton

Container

International

Ltd.,

1.15%,

6/7/2024

(b)

1,000,000‌

993,052‌

Triton

Container

International

Ltd.,

2.05%,

4/15/2026

(b)

1,000,000‌

996,187‌

United

Airlines

Pass

Through

Trust,

Series

2014-1,

Class

B,

4.75%,

4/11/2022

98,810‌

99,843‌

United

Airlines

Pass

Through

Trust,

Series

2014-2,

Class

B,

4.63%,

9/3/2022

1,334,034‌

1,366,124‌

United

Airlines

Pass

Through

Trust,

Series

2020-1,

Class

B,

4.88%,

1/15/2026

898,000‌

947,511‌

United

Airlines

Pass

Through

Trust,

Series

2016-1,

Class

A,

3.45%,

7/7/2028

788,939‌

802,607‌

United

Parcel

Service,

Inc.,

0.58%,

4/1/2023

(3MO

LIBOR

+

45.0bps)

(a)

2,030,000‌

2,036,453‌

US

Airways

Pass

Through

Trust,

Series

2012-2,

Class

A,

4.63%,

6/3/2025

51,903‌

52,318‌

US

Airways

Pass

Through

Trust,

Series

2013-1,

Class

A,

3.95%,

11/15/2025

1,090,663‌

1,112,193‌

Vontier

Corp.,

1.80%,

4/1/2026

(b)

1,000,000‌

985,450‌

25,539,652‌

Materials

—

1.24%

Berry

Global,

Inc.,

0.95%,

2/15/2024

(b)

1,000,000‌

993,777‌

Berry

Global,

Inc.,

1.57%,

1/15/2026

(b)

1,000,000‌

989,724‌

Berry

Global,

Inc.,

1.65%,

1/15/2027

(b)

1,190,000‌

1,165,606‌

Yorktown

Short

Term

Bond

Fund

Schedule

of

Investments

(continued)

October

31,

2021

-

(Unaudited)

Glencore

Funding

LLC,

1.63%,

4/27/2026

(b)

$

1,000,000‌

$

989,438‌

Graphic

Packaging

International

LLC,

1.51%,

4/15/2026

(b)

1,000,000‌

986,859‌

Sealed

Air

Corp.,

1.57%,

10/15/2026

(b)

1,000,000‌

984,034‌

Silgan

Holdings,

Inc.,

1.40%,

4/1/2026

(b)

1,000,000‌

973,245‌

Syngenta

Finance

NV,

3.13%,

3/28/2022

500,000‌

504,984‌

7,587,667‌

Real

Estate

—

0.82%

American

Tower

Corp.,

1.60%,

4/15/2026

500,000‌

497,546‌

SBA

Tower

Trust,

Series

2019-1,

Class

C,

2.84%,

1/15/2025

(b)

1,500,000‌

1,556,944‌

SBA

Tower

Trust,

1.63%,

5/15/2051

(b)

1,000,000‌

987,511‌

SBA

Tower

Trust,

1.84%,

10/15/2051

(b)

2,000,000‌

1,994,538‌

5,036,539‌

Technology

—

4.43%

Arrow

Electronic

,

Inc.,

4.00%,

4/1/2025

1,000,000‌

1,074,427‌

Broadcom,

Inc.,

3.63%,

10/15/2024

2,000,000‌

2,139,057‌

Broadcom,

Inc.,

4.25%,

4/15/2026

80,000‌

88,009‌

Dell

International

LLC/EMC

Corp.,

5.45%,

6/15/2023

(b)

1,000,000‌

1,065,257‌

Dell

International

LLC/EMC

Corp.,

4.00%,

7/15/2024

2,700,000‌

2,893,641‌

DXC

Technology

Co.,

1.80%,

9/15/2026

500,000‌

492,810‌

Global

Payments,

Inc.,

1.20%,

3/1/2026

500,000‌

488,374‌

HP,

Inc.,

2.20%,

6/17/2025

1,000,000‌

1,026,172‌

HP,

Inc.,

1.45%,

6/17/2026

(b)

500,000‌

492,828‌

Jabil,

Inc.,

1.70%,

4/15/2026

1,000,000‌

991,994‌

Juniper

Networks,

Inc.,

1.20%,

12/10/2025

500,000‌

493,315‌

Kyndryl

Holdings,

Inc.,

2.05%,

10/15/2026

(b)

500,000‌

494,839‌

Leidos

,

Inc.,

2.95%,

5/15/2023

1,725,000‌

1,780,661‌

Marvell

Technology,

Inc.,

1.65%,

4/15/2026

500,000‌

496,824‌

Microchip

Technology,

Inc.,

2.67%,

9/1/2023

1,000,000‌

1,031,137‌

Microchip

Technology,

Inc.,

0.97%,

2/15/2024

(b)

1,000,000‌

994,243‌

Microchip

Technology,

Inc.,

0.98%,

9/1/2024

(b)

1,000,000‌

990,047‌

Oracle

Corp.,

1.65%,

3/25/2026

500,000‌

501,836‌

Seagate

HDD

Cayman,

4.88%,

3/1/2024

1,610,000‌

1,718,756‌

Seagate

HDD

Cayman,

4.75%,

1/1/2025

2,622,000‌

2,835,038‌

VMware,

Inc.,

1.00%,

8/15/2024

500,000‌

500,734‌

Western

Union

Co.

(The),

2.85%,

1/10/2025

3,000,000‌

3,123,657‌

Western

Union

Co.

(The),

1.35%,

3/15/2026

1,000,000‌

979,705‌

Wipro

IT

Services

LLC,

1.50%,

6/23/2026

(b)

500,000‌

492,096‌

27,185,457‌

Utilities

—

1.50%

AES

Corp.

(The),

1.38%,

1/15/2026

(b)

500,000‌

489,398‌

Enel

Finance

International

NV,

2.65%,

9/10/2024

1,000,000‌

1,040,903‌

Enel

Finance

International

NV,

1.38%,

7/12/2026

(b)

1,000,000‌

983,924‌

Eversource

Energy,

1.40%,

8/15/2026

500,000‌

493,897‌

NextEra

Energy

Capital

Holdings,

Inc.,

0.59%,

3/1/2023

(SOFRRATE

+

54.0bps)

(a)

500,000‌

502,051‌

Pacific

Gas

and

Electric

Co.,

1.50%,

11/15/2021

(3MO

LIBOR

+

137.5bps)

(a)

525,000‌

525,053‌

Pacific

Gas

and

Electric

Co.,

1.75%,

6/16/2022

1,000,000‌

997,775‌

Pacific

Gas

and

Electric

Co.,

1.37%,

3/10/2023

2,000,000‌

1,993,947‌

Pinnacle

West

Capital

Corp.,

1.30%,

6/15/2025

2,000,000‌

1,983,680‌

Yorktown

Short

Term

Bond

Fund

Schedule

of

Investments

(continued)

October

31,

2021

-

(Unaudited)

PPL

Electric

Utilities

Corp.,

0.38%,

6/24/2024

(SOFRRATE

+

33.0bps)

(a)

$

200,000‌

$

200,136‌

9,210,764‌

Total

Corporate

Bonds

and

Notes

(Cost $381,690,226)

388,196,556‌

Principal

Amount

Fair

Value

ASSET

BACKED

SECURITIES

—

25.31%

321

Henderson

Receivables

I

LLC,

Series

2006-4A,

Class

A1,

0.29%,

12/15/2041

(1MO

LIBOR

+

20.0bps)

(a),(b)

247,616‌

247,202‌

321

Henderson

Receivables

I

LLC,

Series

2007-1A,

Class

A1,

0.29%,

3/15/2042

(1MO

LIBOR

+

20.0bps)

(a),(b)

2,727,341‌

2,684,269‌

321

Henderson

Receivables

I

LLC,

Series

2004-A,

Class

A1,

0.44%,

9/15/2045

(1MO

LIBOR

+

35.0bps)

(a),(b)

469,381‌

466,187‌

ACC

Trust,

Series

2019-2,

Class

A,

2.82%,

2/21/2023

(b)

78,732‌

78,894‌

ACC

Trust,

Series

2021-1,

Class

B,

1.43%,

7/22/2024

(b)

1,000,000‌

1,003,968‌

Access

Group,

Inc.,

Series

2013-1,

Class

A,

0.59%,

2/25/2036

(1MO

LIBOR

+

5.0bps)

(a),(b)

419,498‌

416,208‌

American

Credit

Acceptance

Receivables

Trust,

Series

2018-2,

Class

D,

4.07%,

7/10/2024

(b)

1,654,995‌

1,675,821‌

American

Credit

Acceptance

Receivables

Trust,

Series

2018-3,

Class

D,

4.14%,

10/15/2024

(b)

116,114‌

116,908‌

American

Credit

Acceptance

Receivables

Trust,

Series

2019-2,

Class

D,

3.41%,

6/12/2025

(b)

1,250,000‌

1,279,024‌

American

Credit

Acceptance

Receivables

Trust,

Series

2020-1,

Class

D,

2.39%,

3/13/2026

(b)

2,500,000‌

2,545,612‌

American

Credit

Acceptance

Receivables

Trust,

Series

2020-3,

Class

C,

1.85%,

6/15/2026

(b)

1,000,000‌

1,012,731‌

American

Credit

Acceptance

Receivables

Trust,

Series

2021-2,

Class

D,

1.34%,

7/13/2027

(b)

1,250,000‌

1,242,093‌

American

Credit

Acceptance

Receivables

Trust,

Series

2021-4,

Class

D,

1.82%,

2/14/2028

(b)

750,000‌

750,777‌

AmeriCredit

Automobile

Receivables

Trust,

Series

2018-1,

Class

D,

3.82%,

3/18/2024

300,000‌

308,899‌

AmeriCredit

Automobile

Receivables

Trust,

Series

2019-2,

Class

D,

2.99%,

6/18/2025

3,000,000‌

3,102,881‌

Amur

Equipment

Finance

Receivables

VIII

LLC,

Series

2020-1A,

Class

A2,

1.68%,

8/20/2025

(b)

124,924‌

125,795‌

Applebee's/IHOP

Funding

LLC,

Series

2019-1A,

Class

A2I,

4.19%,

6/5/2049

(b)

1,980,000‌

2,010,431‌

Bank

of

the

West

Auto

Trust,

Series

2017-1,

Class

B,

2.62%,

11/15/2023

(b)

1,400,000‌

1,406,991‌

BHG

Securitization

Trust,

Series

2021-A,

Class

A,

1.42%,

11/17/2033

(b)

858,678‌

858,494‌

Brazos

Education

Loan

Authority,

Inc.,

Series

2021-1,

Class

A1B,

0.69%,

11/25/2071

(a)

2,000,000‌

2,013,818‌

Brazos

Student

Finance

Corp.,

Series

2009-1,

Class

AS,

2.65%,

12/27/2039

(3MO

LIBOR

+

250.0bps)

(a),(b)

163,156‌

165,968‌

Brex

Commercial

Charge

Card

Master

Trust,

Series

2021-1,

Class

A,

2.09%,

7/15/2024

(b)

1,000,000‌

1,010,140‌

Canadian

Pacer

Auto

Receivables

Trust,

Series

2019-1A,

Class

B,

3.16%,

10/21/2024

(b)

1,360,000‌

1,393,365‌

Yorktown

Short

Term

Bond

Fund

Schedule

of

Investments

(continued)

October

31,

2021

-

(Unaudited)

CarMax

Auto

Owner

Trust,

Series

2020-4,

Class

D,

1.75%,

4/15/2027

$

1,000,000‌

$

1,002,979‌

CarMax

Auto

Owner

Trust,

Series

2021-1,

Class

D,

1.28%,

7/15/2027

300,000‌

296,718‌

CarMax

Auto

Owner

Trust,

Series

2021-2,

Class

D,

1.55%,

10/15/2027

1,000,000‌

1,003,102‌

CarMax

Auto

Owner

Trust,

Series

2021-3,

Class

D,

1.50%,

1/18/2028

750,000‌

740,605‌

Carvana

Auto

Receivables

Trust,

Series

2019-2A,

Class

D,

3.28%,

1/15/2025

(b)

3,380,000‌

3,466,428‌

Carvana

Auto

Receivables

Trust,

Series

2019-3A,

Class

D,

3.04%,

4/15/2025

(b)

2,000,000‌

2,052,283‌

Carvana

Auto

Receivables

Trust,

Series

2020-N1A,

Class

C,

2.45%,

6/16/2025

(b)

3,000,000‌

3,053,416‌

Carvana

Auto

Receivables

Trust,

Series

2019-4A,

Class

D,

3.07%,

7/15/2025

(b)

1,961,000‌

2,015,281‌

Carvana

Auto

Receivables

Trust,

Series

2020-P1,

Class

D,

1.82%,

9/8/2027

1,000,000‌

998,195‌

Carvana

Auto

Receivables

Trust,

Series

2021-N2,

Class

D,

1.27%,

3/10/2028

1,000,000‌

994,969‌

CCG

Receivables

Trust,

Series

2019-1,

Class

B,

3.22%,

9/14/2026

(b)

1,750,000‌

1,790,294‌

CCG

Receivables

Trust,

Series

2019-2,

Class

C,

2.89%,

3/15/2027

(b)

1,000,000‌

1,018,269‌

CCG

Receivables

Trust,

Series

2020-1,

Class

D,

2.68%,

12/14/2027

(b)

2,500,000‌

2,538,307‌

CLI

Funding

LLC,

Series

2020-1A,

Class

A,

2.08%,

9/18/2045

(b)

1,763,500‌

1,762,160‌

CLI

Funding

LLC,

Series

2020-3X,

Class

A,

2.07%,

10/18/2045

175,000‌

174,968‌

Conn's

Receivables

Funding

LLC,

Series

2020-A,

Class

A,

1.71%,

6/16/2025

(b)

57,915‌

58,032‌

Continental

Finance

Credit

Card

ABS

Master

Trust,

Series

2020-1A,

Class

A,

2.24%,

12/15/2028

(b)

500,000‌

502,682‌

CPS

Auto

Receivables

Trust,

Series

2017-C,

Class

D,

3.79%,

6/15/2023

(b)

61,011‌

61,187‌

CPS

Auto

Receivables

Trust,

Series

2020-B,

Class

C,

3.30%,

4/15/2026

(b)

1,000,000‌

1,017,170‌

CPS

Auto

Receivables

Trust,

Series

2021-D,

Class

C,

1.59%,

12/15/2027

(b)

1,000,000‌

999,609‌

Credit

Acceptance

Auto

Loan

Trust,

Series

2019-1A,

Class

C,

3.94%,

6/15/2028

(b)

115,000‌

117,669‌

Credit

Acceptance

Auto

Loan

Trust,

Series

2020-1A,

Class

C,

2.59%,

6/15/2029

(b)

1,500,000‌

1,535,177‌

Credit

Acceptance

Auto

Loan

Trust,

Series

2020-3A,

Class

C,

2.28%,

2/15/2030

(b)

1,050,000‌

1,063,656‌

Credit

Acceptance

Auto

Loan

Trust,

Series

2021-3A,

Class

C,

1.63%,

9/16/2030

(b)

500,000‌

497,503‌

Crossroads

Asset

Trust,

Series

2021-A,

Class

C,

1.44%,

1/20/2026

(b)

625,000‌

621,798‌

Crossroads

Asset

Trust,

Series

2021-A,

Class

D,

2.52%,

1/20/2026

(b)

500,000‌

495,357‌

Dell

Equipment

Finance

Trust,

Series

2020-2,

Class

D,

1.92%,

3/23/2026

(b)

500,000‌

507,451‌

Dell

Equipment

Finance

Trust,

Series

2021-2,

Class

D,

1.21%,

6/22/2027

(b)

500,000‌

496,946‌

Diamond

Resorts

Owner

Trust,

Series

2018-1,

Class

A,

3.70%,

1/21/2031

(b)

286,070‌

295,109‌

Dividend

Solar

Loans

LLC,

Series

2017-1,

Class

B,

5.25%,

3/22/2038

(b)

1,245,352‌

1,302,240‌

Dividend

Solar

Loans

LLC,

Series

2018-1,

Class

A,

2.61%,

7/20/2038

(b)

158,375‌

159,091‌

Drive

Auto

Receivables

Trust,

Series

2018-2,

Class

D,

4.14%,

8/15/2024

441,132‌

447,954‌

Drive

Auto

Receivables

Trust,

Series

2018-5,

Class

D,

4.30%,

4/15/2026

100,000‌

103,135‌

Drive

Auto

Receivables

Trust,

Series

2019-1,

Class

D,

4.09%,

6/15/2026

85,000‌

87,290‌

Drive

Auto

Receivables

Trust,

Series

2019-3,

Class

D,

3.18%,

10/15/2026

420,000‌

431,043‌

Drive

Auto

Receivables

Trust,

Series

2020-1,

Class

D,

2.70%,

5/17/2027

110,000‌

112,707‌

DT

Auto

Owner

Trust,

Series

2018-2A,

Class

D,

4.15%,

3/15/2024

(b)

1,519,705‌

1,536,041‌

DT

Auto

Owner

Trust,

Series

2019-2A,

Class

D,

3.48%,

2/18/2025

(b)

1,000,000‌

1,026,348‌

DT

Auto

Owner

Trust,

Series

2019-4A,

Class

D,

2.85%,

7/15/2025

(b)

500,000‌

513,243‌

Yorktown

Short

Term

Bond

Fund

Schedule

of

Investments

(continued)

October

31,

2021

-

(Unaudited)

DT

Auto

Owner

Trust,

Series

2020-2A,

Class

C,

3.28%,

3/16/2026

(b)

$

500,000‌

$

516,450‌

DT

Auto

Owner

Trust,

Series

2021-3A,

Class

D,

1.31%,

5/17/2027

(b)

2,000,000‌

1,979,768‌

ECMC

Group

Student

Loan

Trust,

Series

2018-2A,

Class

A,

0.89%,

9/25/2068

(1MO

LIBOR

+

80.0bps)

(a),(b)

379,790‌

383,557‌

Edsouth

Indenture

No.

6

LLC,

Series

2014-2,

Class

A,

0.77%,

5/25/2039

(a),(b)

462,666‌

463,375‌

Encina

Equipment

Finance

LLC,

Series

2021-1A,

Class

C,

1.39%,

6/15/2027

(b)

500,000‌

497,231‌

Evergreen

Credit

Card

Trust,

Series

2019-2,

Class

C,

2.62%,

9/15/2024

(b)

500,000‌

507,915‌

Exeter

Automobile

Receivables

Trust,

Series

2018-4A,

Class

D,

4.35%,

9/16/2024

(b)

338,307‌

347,086‌

Exeter

Automobile

Receivables

Trust,

Series

2019-1A,

Class

D,

4.13%,

12/16/2024

(b)

325,000‌

333,375‌

Exeter

Automobile

Receivables

Trust,

Series

2019-2A,

Class

D,

3.71%,

3/17/2025

(b)

2,000,000‌

2,063,053‌

Exeter

Automobile

Receivables

Trust,

Series

2020-2A,

Class

D,

4.73%,

4/15/2026

(b)

70,000‌

74,032‌

Exeter

Automobile

Receivables

Trust,

Series

2021-1A,

Class

D,

1.08%,

11/16/2026

500,000‌

497,897‌

Fair

Square

Issuance

Trust,

Series

2020-AA,

Class

A,

2.90%,

9/20/2024

(b)

2,000,000‌

2,010,932‌

First

Investors

Auto

Owner

Trust,

Series

2017-3A,

Class

D,

3.44%,

3/15/2024

(b)

2,777,000‌

2,814,405‌

First

Investors

Auto

Owner

Trust,

Series

2019-2A,

Class

D,

2.80%,

12/15/2025

(b)

1,460,000‌

1,489,657‌

First

Investors

Auto

Owner

Trust,

Series

2021-1A,

Class

D,

1.62%,

3/15/2027

(b)

500,000‌

498,265‌

First

Investors

Auto

Owner

Trust,

Series

2021-2A,

Class

D,

1.66%,

12/15/2027

(b)

2,000,000‌

1,980,909‌

Flagship

Credit

Auto

Trust,

Series

2018-1,

Class

C,

3.39%,

1/16/2024

(b)

89,823‌

90,388‌

Flagship

Credit

Auto

Trust,

Series

2018-3,

Class

C,

3.79%,

12/16/2024

(b)

3,000,000‌

3,041,592‌

Flagship

Credit

Auto

Trust,

Series

2019-2,

Class

D,

3.53%,

5/15/2025

(b)

305,000‌

315,628‌

Flagship

Credit

Auto

Trust,

Series

2019-3,

Class

C,

2.74%,

10/15/2025

(b)

260,000‌

266,326‌

Flagship

Credit

Auto

Trust,

Series

2020-2,

Class

C,

3.80%,

4/15/2026

(b)

250,000‌

258,274‌

Ford

Credit

Auto

Owner

Trust,

Series

2021-1,

Class

D,

2.31%,

10/17/2033

(b)

1,272,000‌

1,263,893‌

Foursight

Capital

Automobile

Receivables

Trust,

Series

2019-1,

Class

D,

3.27%,

6/16/2025

(b)

750,000‌

769,137‌

Foursight

Capital

Automobile

Receivables

Trust,

Series

2020-1,

Class

D,

2.60%,

1/15/2026

(b)

500,000‌

509,216‌

Foursight

Capital

Automobile

Receivables

Trust,

Series

2021-1,

Class

D,

1.32%,

3/15/2027

(b)

550,000‌

542,131‌

Foursight

Capital

Automobile

Receivables

Trust,

Series

2021-2,

Class

D,

1.92%,

9/15/2027

(b)

1,500,000‌

1,488,955‌

GCI

Funding

I

LLC,

Series

2021-1,

Class

A,

2.38%,

6/18/2046

(b)

964,444‌

970,250��

Global

SC

Finance

Srl

,

Series

2020-2A,

Class

A,

2.26%,

11/19/2040

(b)

892,940‌

900,071‌

GLS

Auto

Receivables

Issuer

Trust,

Series

2019-3A,

Class

B,

2.72%,

6/17/2024

(b)

2,690,837‌

2,712,481‌

GLS

Auto

Receivables

Issuer

Trust,

Series

2019-2A,

Class

C,

3.54%,

2/18/2025

(b)

2,000,000‌

2,054,062‌

Yorktown

Short

Term

Bond

Fund

Schedule

of

Investments

(continued)

October

31,

2021

-

(Unaudited)

GLS

Auto

Receivables

Issuer

Trust,

Series

2019-4A,

Class

C,

3.06%,

8/15/2025

(b)

$

1,000,000‌

$

1,024,068‌

GLS

Auto

Receivables

Issuer

Trust,

Series

2020-1A,

Class

C,

2.72%,

11/17/2025

(b)

1,500,000‌

1,532,711‌

GM

Financial

Consumer

Automobile

Trust,

Series

2020-3,

Class

D,

1.91%,

9/16/2027

500,000‌

507,187‌

Golden

Credit

Card

Trust,

Series

2021-1A,

Class

B,

1.44%,

8/15/2028

(b)

1,000,000‌

989,199‌

Goodgreen

Trust,

Series

2017-1A,

Class

A,

3.74%,

10/15/2052

(b)

42,880‌

44,860‌

Goodgreen

Trust,

Series

2017-2A,

Class

A,

3.26%,

10/15/2053

(b)

96,308‌

98,822‌

Goodgreen

Trust,

Series

2021-1A,

Class

A,

2.66%,

10/15/2056

(b)

281,868‌

281,078‌

Helios

Issuer

LLC,

Series

2021-A,

Class

A,

1.80%,

2/20/2048

(b)

467,354‌

465,767‌

HERO

Funding

Trust,

Series

2017-1A,

Class

A2,

4.46%,

9/20/2047

(b)

49,255‌

51,984‌

HPEFS

Equipment

Trust,

Series

2021-1A,

Class

D,

1.03%,

3/20/2031

(b)

1,000,000‌

994,150‌

Hyundai

Auto

Receivables

Trust,

Series

2020-B,

Class

C,

1.60%,

12/15/2026

1,000,000‌

1,010,493‌

InStar

Leasing

III

LLC,

Series

2021-1A,

Class

A,

2.30%,

2/15/2054

(b)

482,189‌

484,332‌

ITE

Rail

Fund

Levered

LP,

Series

2021-1A,

Class

A,

2.25%,

2/28/2051

(b)

485,635‌

486,180‌

KnowledgeWorks

Foundation,

Series

2010-1,

Class

A,

1.08%,

2/25/2042

(3MO

LIBOR

+

95.0bps)

(a)

534,450‌

535,980‌

Kubota

Credit

Owner

Trust,

Series

2019-1A,

Class

A4,

2.50%,

3/16/2026

(b)

2,000,000‌

2,053,712‌

Loanpal

Solar

Loan

Ltd.,

Series

2021-2GS,

Class

A,

2.20%,

3/20/2048

(b)

878,740‌

864,917‌

Longtrain

Leasing

III

LLC,

Series

2015-1A,

Class

A1,

2.98%,

1/15/2045

(b)

175,011‌

176,584‌

Longtrain

Leasing

III

LLC,

Series

2015-1A,

Class

A2,

4.06%,

1/15/2045

(b)

2,940,571‌

2,955,281‌

Marlin

Receivables

LLC,

Series

2018-1A,

Class

D,

3.99%,

7/20/2023

(b)

911,000‌

911,764‌

Master

Credit

Card

Trust

II,

Series

2020-1A,

Class

C,

2.59%,

9/21/2024

(b)

1,000,000‌

1,022,946‌

Mosaic

Solar

Loan

Trust,

Series

2021-3A,

Class

B,

1.92%,

6/20/2052

(b)

198,562‌

196,382‌

Navient

Student

Loan

Trust,

Series

2018-BA,

Class

A2A,

3.61%,

12/15/2059

(b)

63,785‌

66,223‌

Nelnet

Student

Loan

Trust,

Series

2012-2A,

Class

A,

0.89%,

12/26/2033

(a),(b)

436,073‌

438,827‌

Nelnet

Student

Loan

Trust,

Series

2021-A,

Class

APT1,

1.36%,

4/20/2062

(b)

897,822‌

891,511‌

Nelnet

Student

Loan

Trust,

Series

2021-DA,

Class

AFL,

0.78%,

4/20/2062

(a),(b)

500,000‌

501,252‌

Northstar

Education

Finance,

Inc.,

Series

2007-1,

Class

A2,

0.89%,

1/29/2046

(3MO

LIBOR

+

75.0bps)

(a)

237,880‌

237,935‌

Octagon

Investment

Partners

XXI

Ltd.,

Series

2014-1A,

Class

ABR3,

1.33%,

2/14/2031

(a),(b)

1,000,000‌

998,469‌

OneMain

Direct

Auto

Receivables

Trust,

Series

2018-1A,

Class

B,

3.71%,

4/14/2025

(b)

825,000‌

828,607‌

Pawnee

Equipment

Receivables

LLC,

Series

2019-1,

Class

C,

2.61%,

10/15/2024

(b)

1,000,000‌

990,853‌

Pawnee

Equipment

Receivables

LLC,

Series

2019-1,

Class

D,

2.86%,

10/15/2024

(b)

1,180,000‌

1,162,455‌

Pawnee

Equipment

Receivables

LLC,

Series

2020-1,

Class

B,

1.84%,

1/15/2026

(b)

1,000,000‌

1,003,404‌

Pawnee

Equipment

Receivables

LLC,

Series

2020-1,

Class

C,

2.24%,

2/17/2026

(b)

750,000‌

752,314‌

PFS

Financing

Corp.,

Series

2019-C,

Class

B,

2.42%,

10/15/2024

(b)

1,000,000‌

1,016,126‌

PFS

Financing

Corp.,

Series

2020-E,

Class

A,

1.00%,

10/15/2025

(b)

750,000‌

750,863‌

PFS

Financing

Corp.,

Series

2021-A,

Class

B,

0.96%,

4/15/2026

(b)

1,000,000‌

990,635‌

Yorktown

Short

Term

Bond

Fund

Schedule

of

Investments

(continued)

October

31,

2021

-

(Unaudited)

Planet

Fitness

Master

Issuer

LLC,

Series

2018-1A,

Class

A2I,

4.26%,

9/5/2048

(b)

$

261,900‌

$

262,801‌

Planet

Fitness

Master

Issuer

LLC,

Series

2018-1A,

Class

A2II,

4.67%,

9/5/2048

(b)

931,200‌

951,733‌

Purchasing

Power

Funding

LLC,

Series

2021-A,

Class

A,

1.57%,

10/15/2025

(b)

2,000,000‌

2,000,264‌

Santander

Drive

Auto

Receivables

Trust,

Series

2018-1,

Class

D,

3.32%,

3/15/2024

29,460‌

29,677‌

Santander

Drive

Auto

Receivables

Trust,

Series

2020-2,

Class

C,

1.46%,

9/15/2025

1,000,000‌

1,006,932‌

Santander

Drive

Auto

Receivables

Trust,

Series

2020-1,

Class

C,

4.11%,

12/15/2025

70,000‌

72,630‌

Santander

Drive

Auto

Receivables

Trust,

Series

2020-2,

Class

D,

2.22%,

9/15/2026

50,000‌

50,894‌

Santander

Drive

Auto

Receivables

Trust,

Series

2020-3,

Class

D,

1.64%,

11/16/2026

100,000‌

101,046‌

Santander

Drive

Auto

Receivables

Trust,

Series

2020-4,

Class

D,

1.48%,

1/15/2027

250,000‌

252,150‌

Santander

Revolving

Auto

Loan

Trust,

Series

2019-A,

Class

D,

3.45%,

1/26/2032

(b)

1,000,000‌

1,044,827‌

SCF

Equipment

Leasing

LLC,

Series

2019-2A,

Class

A2,

2.47%,

4/20/2026

(b)

675,000‌

687,701‌

SCF

Equipment

Leasing

LLC,

Series

2021-1A,

Class

C,

1.54%,

10/21/2030

(b)

200,000‌

197,361‌

SLM

Private

Credit

Student

Loan

Trust,

Series

2004-B,

Class

A3,

0.45%,

3/15/2024

(a)

317,127‌

316,761‌

SLM

Private

Credit

Student

Loan

Trust,

Series

2005-A,

Class

A4,

0.43%,

12/15/2038

(a)

345,300‌

341,402‌

SLM

Private

Credit

Student

Loan

Trust,

Series

2006-A,

Class

A5,

0.41%,

6/15/2039

(a)

141,892‌

139,286‌

SLM

Student

Loan

Trust,

Series

2003-14,

Class

A6,

0.42%,

7/25/2025

(a)

138,454‌

138,435‌

SMB

Private

Education

Loan

Trust,

Series

2016-B,

Class

A2A,

2.43%,

2/17/2032

(b)

37,831‌

38,531‌

SMB

Private

Education

Loan

Trust,

Series

2017-A,

Class

A2A,

2.88%,

9/15/2034

(b)

107,403‌

109,756‌

Sunrun

Demeter

Issuer

LLC,

Series

2021-A,

Class

A,

2.27%,

1/30/2057

(b)

1,000,000‌

998,765‌

Sunrun

Vulcan

Issuer

LLC,

Series

2021-A,

Class

A,

2.46%,

1/30/2052

(b)

1,951,717‌

1,941,994‌

TAL

Advantage

VII

LLC,

Series

2020-1A,

Class

A,

2.05%,

9/20/2045

(b)

1,162,760‌

1,162,267‌

Textainer

Marine

Containers

Ltd.,

Series

2020-1A,

Class

A,

2.73%,

8/21/2045

(b)

2,198,600‌

2,223,910‌

TIF

Funding

II

LLC,

Series

2021-1A,

Class

A,

1.65%,

2/20/2046

(b)

941,875‌

920,639‌

Towd

Point

Asset

Trust,

Series

2021-SL1,

Class

A2,

0.79%,

11/20/2026

(a)

931,926‌

933,678‌

Toyota

Auto

Loan

Extended

Note

Trust,

Series

2020-1A,

Class

A,

1.35%,

5/25/2033

(b)

1,000,000‌

1,004,164‌

Transportation

Finance

Equipment

Trust,

Series

2019-1,

Class

D,

2.57%,

1/25/2027

(b)

1,500,000‌

1,509,131‌

Trillium

Credit

Card

Trust

II,

Series

2021-1A,

Class

C,

2.42%,

10/26/2029

(b)

1,000,000‌

1,000,000‌

Trinity

Rail

Leasing

LLC,

Series

2019-2A,

Class

A2,

3.10%,

10/18/2049

(b)

685,000‌

695,685‌

Trinity

Rail

Leasing

LLC,

Series

2020-2A,

Class

A1,

1.83%,

11/19/2050

(b)

1,662,969‌

1,677,742‌

Yorktown

Short

Term

Bond

Fund

Schedule

of

Investments

(continued)

October

31,

2021

-

(Unaudited)

Trinity

Rail

Leasing

LLC,

Series

2021-1A,

Class

A,

2.26%,

7/19/2051

(b)

$

992,334‌

$

993,017‌

United

Auto

Credit

Securitization

Trust,

Series

2020-1,

Class

C,

2.15%,

2/10/2025

(b)

1,000,000‌

1,004,918‌

Vivint

Solar

Financing

VII

LLC,

Series

2020-1A,

Class

B,

3.22%,

7/31/2051

(b)

1,205,625‌

1,207,527‌

Wendy's

Funding

LLC,

Series

2019-1A,

Class

A2I,

3.78%,

6/15/2049

(b)

107,238‌

113,047‌

Westlake

Automobile

Receivables

Trust,

Series

2018-3A,

Class

D,

4.00%,

10/16/2023

(b)

2,905,511‌

2,929,451‌

Westlake

Automobile

Receivables

Trust,

Series

2019-2A,

Class

D,

3.20%,

11/15/2024

(b)

1,500,000‌

1,531,937‌

Westlake

Automobile

Receivables

Trust,

Series

2020-1A,

Class

C,

2.52%,

4/15/2025

(b)

100,000‌

101,774‌

Westlake

Automobile

Receivables

Trust,

Series

2020-1A,

Class

D,

2.80%,

6/16/2025

(b)

2,000,000‌

2,053,983‌

Westlake

Automobile

Receivables

Trust,

Series

2020-3A,

Class

D,

1.65%,

2/17/2026

(b)

1,000,000‌

1,006,755‌

World

Financial

Network

Credit

Card

Master

Trust,

Series

2019-B,

Class

A,

2.49%,

4/15/2026

250,000‌

253,507‌

World

Financial

Network

Credit

Card

Master

Trust,

Series

2019-C,

Class

A,

2.21%,

7/15/2026

391,000‌

397,377‌

Total

Asset

Backed

Securities

(Cost $154,034,702)

155,174,525‌

Principal

Amount

Fair

Value

U.S.

GOVERNMENT

&

AGENCIES

—

4.74%

Fannie

Mae,

Pool

#MA4023,

3.50%,

1/1/2035

1,176,308‌

1,240,503‌

Fannie

Mae,

Pool

#MA4038,

3.00%,

4/1/2035

255,550‌

264,930‌

Fannie

Mae,

Pool

#BK2992,

2.00%,

8/1/2035

926,683‌

954,701‌

Fannie

Mae,

Pool

#CA7166,

2.00%,

9/1/2035

867,566‌

895,734‌

Fannie

Mae,

Pool

#CA8902,

2.50%,

2/1/2041

902,715‌

931,022‌

Fannie

Mae,

Pool

#MA4364,

2.00%,

5/1/2041

969,923‌

988,618‌

Fannie

Mae,

Pool

#MA4422,

2.00%,

9/1/2041

990,647‌

1,009,743‌

Fannie

Mae,

Pool

#FM7195,

2.50%,

9/1/2050

948,826‌

989,092‌

Fannie

Mae,

Pool

#CA6951,

2.50%,

9/1/2050

832,848‌

858,571‌

Fannie

Mae,

Pool

#CA7245,

2.00%,

10/1/2050

867,029‌

863,638‌

Fannie

Mae,

Pool

#MA4191,

2.00%,

11/1/2050

1,746,770‌

1,739,945‌

Fannie

Mae,

Pool

#FM5316,

2.00%,

12/1/2050

1,959,241‌

1,963,651‌

Fannie

Mae,

Pool

#MA4235,

2.00%,

1/1/2051

912,466‌

908,896‌

Fannie

Mae,

Pool

#BR4529,

2.00%,

2/1/2051

953,314‌

956,997‌

Fannie

Mae,

Pool

#BR4051,

2.00%,

2/1/2051

927,187‌

929,792‌

Fannie

Mae,

Pool

#CB0397,

3.00%,

5/1/2051

958,108‌

1,003,391‌

Fannie

Mae,

Pool

#FM8361,

2.50%,

8/1/2051

992,994‌

1,021,077‌

Fannie

Mae,

Pool

#BT9111,

1.84%,

9/1/2051

996,237‌

1,016,472‌

Federal

Home

Loan

Bank,

2.00%,

2/25/2036

1,000,000‌

975,266‌

Federal

Home

Loan

Mortgage

Corp.,

MTN,

1.55%,

7/21/2032

1,000,000‌

969,661‌

Freddie

Mac,

Pool

#RB5111,

2.00%,

5/1/2041

962,640‌

981,194‌

Freddie

Mac,

Pool

#RB5135,

2.00%,

10/1/2041

1,000,000‌

1,019,277‌

Freddie

Mac,

Pool

#RE6076,

2.00%,

12/1/2050

876,565‌

873,116‌

Yorktown

Short

Term

Bond

Fund

Schedule

of

Investments

(continued)

October

31,

2021

-

(Unaudited)

Freddie

Mac,

Pool

#RE6081,

2.00%,

1/1/2051

$

901,101‌

$

897,558‌

Freddie

Mac,

Pool

#RE6085,

1.50%,

2/1/2051

1,895,969‌

1,816,107‌

Freddie

Mac,

Pool

#QC3907,

2.50%,

7/1/2051

1,958,566‌

2,020,556‌

Freddie

Mac,

Pool

#8C0119,

1.50%,

9/1/2051

998,426‌

1,004,629‌

Total

U.S.

Government

&

Agencies

(Cost $29,634,463)

29,094,137‌

Principal

Amount

Fair

Value

COLLATERALIZED

LOAN

OBLIGATIONS

—

5.27%

Aimco

CLO

12

Ltd.,

Series

2020-12A,

Class

X,

1.12%,

1/17/2032

(3MO

LIBOR

+

100.0bps)

(a),(b)

2,000,000‌

1,999,998‌

AMMC

CLO

15

Ltd.,

Series

2014-15A,

Class

AXRR,

1.07%,

1/15/2032

(3MO

LIBOR

+

95.0bps)

(a),(b)

1,125,000‌

1,125,000‌

Apidos

CLO

XX,

Series

2015-20A,

Class

A1RA,

1.22%,

7/16/2031

(3MO

LIBOR

+

110.0bps)

(a),(b)

3,000,000‌

3,009,348‌

Ares

XXXIIR

CLO

Ltd.,

Series

2014-32

RA,

Class

A1B,

1.33%,

5/15/2030

(a),(b)

1,000,000‌

995,370‌

ArrowMark

Colorado

Holdings,

Series

2017-6A,

Class

A2,

1.57%,

7/15/2029

(3MO

LIBOR

+

145.0bps)

(a),(b)

1,000,000‌

995,454‌

Carlyle

Global

Market

Strategies

CLO

Ltd.,

Series

2017-1A,

Class

A1R,

1.13%,

4/20/2031

(a),(b)

1,000,000‌

999,999‌

Carlyle

US

CLO

Ltd.,

Series

2020-2A,

Class

A1A,

1.44%,

10/25/2031

(a),(b)

1,000,000‌

1,003,470‌

Cedar

Funding

VII

CLO

Ltd.,

Series

2018-7A,

Class

A2,

1.26%,

1/20/2031

(a),(b)

625,000‌

621,371‌

Cedar

Funding

XII

CLO

Ltd.,

Series

2020-12A,

Class

XR,

0.00%,

10/25/2034

(a),(b)

1,000,000‌

1,000,000‌

Columbia

Cent

CLO

Ltd.,

Series

2021-31A,

Class

X,

1.13%,

4/20/2034

(a),(b)

1,800,000‌

1,799,998‌

Diamond

CLO

Ltd.,

Series

2019-1A,

Class

A1R,

1.32%,

4/25/2029

(a),(b)

483,397‌

483,397‌

Goldentree

Loan

Management

US

CLO

5

Ltd.,

Series

2018-3A,

Class

AJ,

1.43%,

4/20/2030

(3MO

LIBOR

+

130.0bps)

(a),(b)

1,000,000‌

995,564‌

Hildene

TruPS

Financials

Note

Securitization,

Series

2019-2A,

Class

A1,

1.91%,

5/22/2039

(3MO

LIBOR

+

176.0bps)

(a),(b)

1,932,051‌

1,917,561‌

HPS

Loan

Management

Ltd.,

Series

2010A-16,

Class

X,

1.03%,

4/20/2034

(a),(b)

904,762‌

904,761‌

ICG

US

CLO

Ltd.,

Series

2014-1A,

Class

A1A2,

1.33%,

10/20/2034

(a),(b)

1,000,000‌

999,999‌

Madison

Park

Funding

XXI

Ltd.,

Series

2016-21A,

Class

ABRR,

1.53%,

10/15/2032

(a),(b)

1,000,000‌

1,000,000‌

Northwoods

Capital

XVII

Ltd.,

Series

2018-17A,

Class

A,

1.19%,

4/22/2031

(3MO

LIBOR

+

106.0bps)

(a),(b)

3,000,000‌

2,999,753‌

Oaktree

CLO

Ltd.,

Series

2015-1A,

Class

A1R,

1.00%,

10/20/2027

(a),(b)

199,249‌

199,283‌

Oaktree

CLO

Ltd.,

Series

2019-3A,

Class

A1R,

1.33%,

10/20/2034

(a),(b)

1,000,000‌

999,999‌

OZLM

XII

Ltd.,

Series

2015-12A,

Class

A1R,

1.18%,

4/30/2027

(3MO

LIBOR

+

105.0bps)

(a),(b)

114,112‌

114,160‌

Palmer

Square

Loan

Funding

Ltd.,

Series

2018-5A,

Class

A1,

0.98%,

1/20/2027

(a),(b)

634,426‌

635,106‌

Rockford

Tower

CLO

Ltd.,

Series

2019-2A,

Class

AR,

1.23%,

8/20/2032

(3MO

LIBOR

+

110.0bps)

(a),(b)

1,000,000‌

999,998‌

Yorktown

Short

Term

Bond

Fund

Schedule

of

Investments

(continued)

October

31,

2021

-

(Unaudited)

Sound

Point

CLO

VIII-R

Ltd.,

Series

2015-1RA,

Class

BR,

1.67%,

4/15/2030

(a),(b)

$

2,000,000‌

$

1,999,994‌

Sound

Point

CLO

XXIX

Ltd.,

Series

2021-1A,

Class

X,

0.82%,

4/25/2034

(a),(b)

2,430,000‌

2,423,332‌

Venture

42

CLO

Ltd.,

Series

2021-42A,

Class

X,

0.87%,

4/15/2034

(a),(b)

1,904,762‌

1,904,760‌

Voya

CLO

Ltd.,

Series

2016-3A,

Class

XR,

0.82%,

10/18/2031

(3MO

LIBOR

+

70.0bps)

(a),(b)

180,000‌

180,000‌

Total

Collateralized

Loan

Obligations

(Cost $32,261,520)

32,307,675‌

Total

Investments

—

98.63%

(Cost

$597,620,911)

604,772,893‌

Other

Assets

in

Excess

of

Liabilities 

—

 1.37%

8,418,019‌

Net

Assets

—

100.00%

$

613,190,912‌

(a)

Variable

rate

security.

Interest

rate

resets

periodically.

The

rate

shown

is

the

effective

interest

rate

as

of

October

31,

2021.

For

securities

based

on

a

published

reference

rate

and

spread,

the

reference

rate

and

spread

(in

basis

points)

are

indicated

parenthetically.

Certain

variable

rate

securities

are

not

based

on

a

published

reference

rate

and

spread

but

are

determined

by

the

issuer

or

agent

and

are

based

on

current

market

conditions.

These

securities,

therefore,

do

not

indicate

a

reference

rate

and

spread.

(b)

Security

exempt

from

registration

under

Rule

144A

or

Section

4(2)

of

the

Securities

Act

of

1933.

The

security

may

be

resold

in

transactions

exempt

from

registration,

normally

to

qualified

institutional

buyers.

The

total

fair

value

of

these

securities

as

October

31,

2021

was

$341,902,540,

representing

55.75%

of

net

assets.

MTN

-

Medium

Term

Note

Yorktown

Master

Allocation

Fund

Schedule

of

Investments

October

31,

2021

-

(Unaudited)

Shares

Fair

Value

INVESTMENT

COMPANIES

—

98.47%

(a)

Capital

Appreciation

Funds—

36.41%

Yorktown

Capital

Appreciation

Fund,

Institutional

Class

170,630‌

$

6,640,919‌

Growth

Funds—

33.14%

Yorktown

Growth

Fund,

Institutional

Class

261,698‌

6,045,218‌

Small

Cap

Funds—

28.92%

Yorktown

Small

Cap

Fund,

Institutional

Class

265,322‌

5,274,602‌

Total

Investment

Companies

(Cost $8,966,510)

17,960,739‌

Total

Investments

—

98.47%

(Cost

$8,966,510)

17,960,739‌

Other

Assets

in

Excess

of

Liabilities 

—

 1.53%

278,435‌

Net

Assets

—

100.00%

$

18,239,174‌

(a)

Affiliated

issuer.

Yorktown

Small

Cap

Fund

Schedule

of

Investments

October

31,

2021

-

(Unaudited)

+

Shares

Fair

Value

COMMON

STOCKS

—

94.67%

Communications

—

5.73%

Iridium

Communications,

Inc.

(a)

17,800‌

$

721,790‌

TechTarget

,

Inc.

(a)

29,000‌

2,734,990‌

3,456,780‌

Consumer

Discretionary

—

14.69%

Buckle,

Inc.

(The)

11,400‌

474,468‌

Dick's

Sporting

Goods,

Inc.

9,000‌

1,117,890‌

Haverty

Furniture

Cos.,

Inc.

11,000‌

315,700‌

Kohl's

Corp.

12,200‌

592,066‌

Lithia

Motors,

Inc.,

Class

A

5,700‌

1,819,554‌

OneWater

Marine,

Inc.,

Class

A

8,900‌

394,626‌

Sleep

Number

Corp.

(a)

6,200‌

547,708‌

Stitch

Fix,

Inc.,

Class

A

(a)

14,400‌

498,240‌

Wingstop

,

Inc.

13,600‌

2,345,592‌

Winnebago

Industries,

Inc.

11,200‌

758,128‌

8,863,972‌

Consumer

Staples

—

2.98%

B&G

Foods,

Inc.

25,900‌

762,496‌

BJ's

Wholesale

Club

Holdings,

Inc.

(a)

17,700‌

1,034,388‌

1,796,884‌

Energy

—

2.29%

Plug

Power,

Inc.

(a)

36,100‌

1,381,547‌

Financials

—

13.11%

Artisan

Partners

Asset

Management,

Inc.,

Class

A

10,500‌

520,170‌

Bank

OZK

12,800‌

571,776‌

Cowen

Group,

Inc.,

Class

A

14,000‌

528,220‌

First

BanCorp.

75,000‌

1,023,750‌

LPL

Financial

Holdings,

Inc.

12,300‌

2,017,446‌

Meta

Financial

Group,

Inc.

10,000‌

554,400‌

Reliant

Bancorp,

Inc.

35,500‌

1,202,740‌

Stifel

Financial

Corp.

7,700‌

561,099‌

Wintrust

Financial

Corp.

10,500‌

929,250‌

7,908,851‌

Health

Care

—

17.07%

CRISPR

Therapeutics

AG

(a)

4,800‌

438,384‌

Intellia

Therapeutics,

Inc.

(a)

18,300‌

2,433,534‌

Jounce

Therapeutics,

Inc.

(a)

134,300‌

1,179,154‌

NeoGenomics

,

Inc.

(a)

24,600‌

1,131,600‌

Repligen

Corp.

(a)

8,900‌

2,585,450‌

Sinovac

Biotech

Ltd.

(a)(b)

74,893‌

484,558‌

Tenet

Healthcare

Corp.

(a)

14,500‌

1,039,070‌

Twist

Bioscience

Corp.

(a)

8,500‌

1,009,800‌

10,301,550‌

Industrials

—

14.29%

Alaska

Air

Group,

Inc.

(a)

16,100‌

850,080‌

FTI

Consulting,

Inc.

(a)

4,600‌

662,032‌

Yorktown

Small

Cap

Fund

Schedule

of

Investments

(continued)

October

31,

2021

-

(Unaudited)

Shares

Fair

Value

Knight-Swift

Transportation

Holdings,

Inc.

10,500‌

$

595,245‌

Mueller

Industries,

Inc.

27,766‌

1,461,602‌

Novanta

,

Inc.

(a)

11,900‌

2,053,464‌

NV5

Global,

Inc.

(a)

15,100‌

1,572,363‌

Shyft

Group,

Inc.

(The)

18,600‌

766,506‌

TriNet

Group,

Inc.

(a)

6,500‌

658,125‌

8,619,417‌

Materials

—

3.20%

Cleveland-Cliffs,

Inc.

(a)

80,000‌

1,928,800‌

Real

Estate

—

1.94%

Matson,

Inc.

7,000‌

582,960‌

Newmark

Group,

Inc.,

Class

A

39,400‌

586,272‌

1,169,232‌

Technology

—

19.37%

Amkor

Technology,

Inc.

31,300‌

686,096‌

AudioCodes

Ltd.

44,000‌

1,559,360‌

Kulicke

&

Soffa

Industries,

Inc.

10,700‌

609,900‌

Lattice

Semiconductor

Corp.

(a)

19,600‌

1,361,024‌

Magic

Software

Enterprises

Ltd.

34,300‌

747,054‌

Morningstar,

Inc.

6,900‌

2,185,575‌

Perion

Network

Ltd.

(a)

57,000‌

1,619,940‌

Power

Integrations,

Inc.

11,600‌

1,197,236‌

Rambus,

Inc.

(a)

46,400‌

1,079,728‌

TTEC

Holdings,

Inc.

6,800‌

641,852‌

11,687,765‌

Total

Common

Stocks

(Cost $38,155,090)

57,114,798‌

Total

Investments

—

94.67%

(Cost

$38,155,090)

57,114,798‌

Other

Assets

in

Excess

of

Liabilities 

—

 5.33%

3,214,300‌

Net

Assets

—

100.00%

$

60,329,098‌

(a)

Non-income

producing

security.

(b)

Illiquid

security.

Security

is

being

fair

valued

in

accordance

with

the

Trust's

fair

valuation

policies

and

represents

0.80%

of

the

Fund's

net

assets.