Value Line Funds Variable Trust NPORT-P Value Line Strategic Asset Management Trust (Mar 2021 report)

Value Line Strategic Asset Management Trust 

Schedule of Investments

March 31, 2021 (Unaudited)

Shares		Value
	Common Stocks 70.8%
	Consumer Discretionary 3.7%
	Retail 3.7%
12,000	Domino's Pizza, Inc.	$	4,413,480
75,600	TJX Companies, Inc. (The)		5,000,940
			9,414,420
	Consumer Staples 4.5%
	Household Products 2.3%
67,000	Church & Dwight Co., Inc.		5,852,450
	Retail 2.2%
16,000	Costco Wholesale Corp.		5,639,680
			11,492,130
	Financials 2.0%
	Commercial Services 1.1%
8,000	S&P Global, Inc.		2,822,960
	Insurance 0.9%
60,500	Arch Capital Group, Ltd. (1)		2,321,385
			5,144,345
	Healthcare 14.9%
	Electronics 3.5%
7,700	Mettler-Toledo International, Inc. (1)		8,898,813
	Healthcare Products 10.4%
43,200	Danaher Corp.		9,723,456
15,500	IDEXX Laboratories, Inc. (1)		7,584,305
20,000	Thermo Fisher Scientific, Inc.		9,127,600
			26,435,361
	Healthcare Services 1.0%
5,600	IQVIA Holdings, Inc. (1)		1,081,584
4,000	UnitedHealth Group, Inc.		1,488,280
			2,569,864
			37,904,038
	Industrials 23.9%
	Aerospace & Defense 8.4%
55,000	HEICO Corp.		6,919,000
23,700	Teledyne Technologies, Inc. (1)		9,803,505
8,000	TransDigm Group, Inc. (1)		4,703,360
			21,425,865
	Commercial Services 4.5%
48,369	IHS Markit, Ltd.		4,681,152
193,500	Rollins, Inc.		6,660,270
			11,341,422
	Environmental Control 3.6%
85,250	Waste Connections, Inc.		9,205,295
	Machinery Diversified 1.9%
45,300	Toro Co. (The)		4,672,242
	Software 3.6%
22,800	Roper Technologies, Inc.		9,196,152
	Transportation 1.9%
22,000	Union Pacific Corp.		4,849,020
			60,689,996
	Information Technology 16.1%
	Diversified Financial Services 2.8%
20,000	MasterCard, Inc. Class A		7,121,000
	Software 13.3%
5,000	Adobe, Inc. (1)		2,376,850
19,000	ANSYS, Inc. (1)		6,451,640
25,000	Cadence Design Systems, Inc. (1)		3,424,750
10,000	Fidelity National Information Services, Inc.		1,406,100
38,000	Fiserv, Inc. (1)		4,523,520
11,000	Intuit, Inc.		4,213,660
35,600	Salesforce.com, Inc. (1)		7,542,572
7,732	ServiceNow, Inc. (1)		3,866,850
			33,805,942
			40,926,942
	Materials 3.0%
	Chemicals 2.2%
26,400	Ecolab, Inc.		5,651,448
	Packaging & Containers 0.8%
9,500	AptarGroup, Inc.		1,345,865
6,000	Ball Corp.		508,440
			1,854,305
			7,505,753
	Real Estate 1.2%
	REITS 1.2%
13,000	American Tower Corp. REIT		3,107,780
	Utilities 1.5%
	Electric 1.5%
48,000	NextEra Energy, Inc.		3,629,280
	Total Common Stocks (Cost $56,891,449)		179,814,684

1

Value Line Strategic Asset Management Trust 

Schedule of Investments (Continued)

March 31, 2021 (Unaudited)

Principal Amount			Value
Asset-Backed Securities 0.8%
$	150,000	Chase Issuance Trust, Series 2012-A7, Class A7, 2.16%, 9/15/24	$	154,170
	300,000	Ford Credit Auto Owner Trust, Series 2018-2, Class A, 3.47%, 1/15/30 (2)		320,075
	230,000	Ford Credit Auto Owner Trust, Series 2018-1, Class A, 3.19%, 7/15/31 (2)		247,815
	350,000	GM Financial Automobile Leasing Trust, Series 2019-2, Class A4, 2.72%, 3/20/23		352,795
	150,000	Honda Auto Receivables Owner Trust, Series 2019-2, Class A4, 2.54%, 3/21/25		155,025
	250,000	Hyundai Auto Lease Securitization Trust, Series 2019-A, Class A4, 3.05%, 12/15/22 (2)		252,264
	23,288	Mercedes-Benz Auto Lease Trust, Series 2019-B, Class A2, 2.01%, 12/15/21		23,303
	66,294	Nissan Auto Receivables Owner Trust, Series 2017-A, Class A4, 2.11%, 5/15/23		66,418
	70,994	Toyota Auto Receivables Owner Trust, Series 2018-D, Class A3, 3.18%, 3/15/23		71,922
	200,000	Toyota Auto Receivables Owner Trust, Series 2018-A, Class A4, 2.52%, 5/15/23		202,526
	300,000	Verizon Owner Trust, Series 2019-B, Class A1A, 2.33%, 12/20/23		304,560
		Total Asset-Backed Securities (Cost $2,152,203)		2,150,873
Commercial Mortgage-Backed Securities 3.1%
	250,000	BANK, Series 2017-BNK8, Class A4, 3.49%, 11/15/50		272,981
	360,836	Citigroup Commercial Mortgage Trust, Series 2014-GC25, Class AAB, 3.37%, 10/10/47		376,088
	100,000	COMM Mortgage Trust, Series 2013-CR6, Class A4, 3.10%, 3/10/46		102,938
	100,000	COMM Mortgage Trust, Series 2014-UBS2, Class AM, 4.20%, 3/10/47		107,736
	250,000	FHLMC Multifamily Structured Pass-Through Certificates, Series K728, Class A2, 3.06%, 8/25/24 (3)		267,620
	200,000	FHLMC Multifamily Structured Pass-Through Certificates, Series K731, Class A2, 3.60%, 2/25/25 (3)		217,919
	550,000	FHLMC Multifamily Structured Pass-Through Certificates, Series K733, Class A2, 3.75%, 8/25/25		609,168
	165,038	FHLMC Multifamily Structured Pass-Through Certificates, Series K058, Class A1, 2.34%, 7/25/26		172,997
	400,000	FHLMC Multifamily Structured Pass-Through Certificates, Series K058, Class A2, 2.65%, 8/25/26		428,390
	250,000	FHLMC Multifamily Structured Pass-Through Certificates, Series K062, Class A2, 3.41%, 12/25/26		277,660
	250,000	FHLMC Multifamily Structured Pass-Through Certificates, Series K065, Class A2, 3.24%, 4/25/27		275,533
	222,000	FHLMC Multifamily Structured Pass-Through Certificates, Series K067, Class A2, 3.19%, 7/25/27		244,522
	160,000	FHLMC Multifamily Structured Pass-Through Certificates, Series K069, Class A2, 3.19%, 9/25/27 (3)		176,200
	250,000	FHLMC Multifamily Structured Pass-Through Certificates, Series K071, Class A2, 3.29%, 11/25/27		276,832
	250,000	FHLMC Multifamily Structured Pass-Through Certificates, Series K089, Class A2, 3.56%, 1/25/29		281,481
	195,420	FHLMC Multifamily Structured Pass-Through Certificates, Series K101, Class A1, 2.19%, 7/25/29		204,091
	250,000	FREMF Mortgage Trust, Series 2013-K24, Class B, 3.51%, 11/25/45 (2)(3)		259,933
	100,000	FREMF Mortgage Trust, Series 2013-K34, Class B, 3.73%, 9/25/46 (2)(3)		106,376
	300,000	FREMF Mortgage Trust, Series 2014-K717, Class B, 3.63%, 11/25/47 (2)(3)		303,154
	225,000	FREMF Mortgage Trust, Series 2015-K43, Class B, 3.73%, 2/25/48 (2)(3)		242,242
	200,000	GNMA, Series 2013-12, Class B, 2.05%, 11/16/52 (3)		203,126
	59,515	GS Mortgage Securities Trust, Series 2012-GCJ7, Class A4, 3.38%, 5/10/45		59,885

2

Value Line Strategic Asset Management Trust 

Schedule of Investments (Continued)

March 31, 2021 (Unaudited)

Principal Amount			Value
Commercial Mortgage-Backed Securities 3.1% (Continued)
$	250,000	Morgan Stanley Bank of America Merrill Lynch Trust, Series 2012-C5, Class A4, 3.18%, 8/15/45	$	256,044
	158,369	Morgan Stanley Bank of America Merrill Lynch Trust, Series 2012-C6, Class A4, 2.86%, 11/15/45		162,139
	183,473	Morgan Stanley Bank of America Merrill Lynch Trust, Series 2015-C26, Class A3, 3.21%, 10/15/48		192,306
	150,000	Morgan Stanley Bank of America Merrill Lynch Trust, Series 2015-C26, Class A5, 3.53%, 10/15/48		164,167
	200,000	Morgan Stanley Capital I Trust, Series 2019-H6, Class A4, 3.42%, 6/15/52		215,445
	250,000	Morgan Stanley Capital I Trust, Series 2019-L3, Class ASB, 3.07%, 11/15/52		270,398
	250,000	Morgan Stanley Capital I Trust, Series 2019-L3, Class A4, 3.13%, 11/15/52		263,501
	71,053	Wells Fargo Commercial Mortgage Trust, Series 2017-C40, Class A1, 2.11%, 10/15/50		71,452
	100,000	Wells Fargo Commercial Mortgage Trust, Series 2019-C50, Class ASB, 3.64%, 5/15/52		110,384
	121,059	Wells Fargo Commercial Mortgage Trust, Series 2015-NXS2, Class ASB, 3.46%, 7/15/58		127,267
	298,097	Wells Fargo Commercial Mortgage Trust, Series 2015-C30, Class A3, 3.41%, 9/15/58		323,283
	180,244	WFRBS Commercial Mortgage Trust, Series 2011-C5, Class A4, 3.67%, 11/15/44		181,495
		Total Commercial Mortgage-Backed Securities (Cost $7,583,986)		7,804,753
Corporate Bonds & Notes 9.5%
		Basic Materials 0.5%
		Chemicals 0.3%
	100,000	Air Products and Chemicals, Inc., Senior Unsecured Notes, 2.05%, 5/15/30		98,353
	230,000	Celanese U.S. Holdings LLC, Guaranteed Notes, 4.63%, 11/15/22		243,719
	100,000	FMC Corp., Senior Unsecured Notes, 3.45%, 10/1/29		105,205
	200,000	LYB International Finance B.V., Guaranteed Notes, 4.00%, 7/15/23		215,022
	125,000	NOVA Chemicals Corp., Senior Unsecured Notes, 5.25%, 6/1/27 (2)		131,171
				793,470
		Iron/Steel 0.1%
	125,000	Steel Dynamics, Inc., Senior Unsecured Notes, 3.25%, 1/15/31		132,195
		Mining 0.1%
	100,000	Rio Tinto Finance USA PLC, Guaranteed Notes, 4.13%, 8/21/42 (4)		114,290
	170,000	Teck Resources, Ltd., Senior Unsecured Notes, 6.13%, 10/1/35		208,219
		Sub-total		322,509
				1,248,174
		Communications 0.9%
		Advertising 0.0%
	100,000	Omnicom Group, Inc., Senior Unsecured Notes, 2.45%, 4/30/30		98,850
		Internet 0.2%
	150,000	Amazon.com, Inc., Senior Unsecured Notes, 4.80%, 12/5/34		188,263
	125,000	Expedia Group, Inc., Guaranteed Notes, 3.25%, 2/15/30		125,895
	175,000	Netflix, Inc., Senior Unsecured Notes, 4.88%, 4/15/28		198,959
				513,117
		Media 0.3%
	200,000	Charter Communications Operating LLC/Charter Communications Operating Capital, Senior Secured Notes, 4.91%, 7/23/25		226,832
	200,000	Comcast Corp., Guaranteed Notes, 3.95%, 10/15/25		223,094
	125,000	Discovery Communications LLC, Guaranteed Notes, 4.90%, 3/11/26		142,397
	125,000	Walt Disney Co. (The), Guaranteed Notes, 2.65%, 1/13/31		127,087
				719,410
		Telecommunications 0.4%
	228,000	AT&T, Inc., Senior Unsecured Notes, 2.55%, 12/1/33 (2)		216,147
	200,000	Motorola Solutions, Inc., Senior Unsecured Notes, 4.60%, 5/23/29		226,726
	100,000	T-Mobile USA, Inc., Guaranteed Notes, 2.25%, 2/15/26		100,719
	250,000	Verizon Communications, Inc., Senior Unsecured Notes, 4.50%, 8/10/33		290,129
	125,000	Vodafone Group PLC, Senior Unsecured Notes, 4.25%, 9/17/50		137,294
				971,015
				2,302,392

3

Value Line Strategic Asset Management Trust 

Schedule of Investments (Continued)

March 31, 2021 (Unaudited)

Principal Amount			Value
		Corporate Bonds & Notes 9.5% (Continued)
		Consumer, Cyclical 0.6%
		Auto Manufacturers 0.2%
$	150,000	Ford Motor Credit Co. LLC, Senior Unsecured Notes, 3.38%, 11/13/25	$	152,550
	200,000	General Motors Financial Co., Inc., Guaranteed Notes, 3.70%, 5/9/23		210,643
	150,000	Toyota Motor Credit Corp. GMTN, Senior Unsecured Notes, 3.45%, 9/20/23		160,703
				523,896
		Auto Parts & Equipment 0.1%
	150,000	Dana, Inc., Senior Unsecured Notes, 5.50%, 12/15/24		153,030
		Home Builders 0.2%
	175,000	Lennar Corp., Guaranteed Notes, 4.88%, 12/15/23 (4)		191,158
	100,000	PulteGroup, Inc., Guaranteed Notes, 5.00%, 1/15/27 (4)		115,000
	125,000	Toll Brothers Finance Corp., Guaranteed Notes, 4.88%, 11/15/25		139,219
				445,377
		Home Furnishings 0.0%
	100,000	Whirlpool Corp., Senior Unsecured Notes, 4.75%, 2/26/29 (4)		115,773
		Retail 0.1%
	100,000	AutoZone, Inc., Senior Unsecured Notes, 3.75%, 6/1/27		110,319
	150,000	O'Reilly Automotive, Inc., Senior Unsecured Notes, 3.60%, 9/1/27		163,881
				274,200
				1,512,276
		Consumer, Non-cyclical 1.8%
		Agriculture 0.1%
	175,000	Bunge, Ltd. Finance Corp., Guaranteed Notes, 3.25%, 8/15/26		186,269
		Beverages 0.2%
	125,000	Anheuser-Busch InBev Worldwide, Inc., Guaranteed Notes, 4.90%, 1/23/31 (4)		149,380
	125,000	Coca-Cola Femsa S.A.B. de C.V., Guaranteed Notes, 2.75%, 1/22/30		126,628
	150,000	Constellation Brands, Inc., Guaranteed Notes, 5.25%, 11/15/48		189,672
	175,000	Keurig Dr. Pepper, Inc., Guaranteed Notes, 3.20%, 5/1/30		185,045
				650,725
		Biotechnology 0.1%
	125,000	Gilead Sciences, Inc., Senior Unsecured Notes, 3.25%, 9/1/22		129,313
	125,000	Regeneron Pharmaceuticals, Inc., Senior Unsecured Notes, 1.75%, 9/15/30		115,514
				244,827
		Commercial Services 0.1%
	150,000	Global Payments, Inc., Senior Unsecured Notes, 4.80%, 4/1/26		171,538
	150,000	PayPal Holdings, Inc., Senior Unsecured Notes, 2.65%, 10/1/26		158,644
				330,182
		Food 0.2%
	100,000	Conagra Brands, Inc., Senior Unsecured Notes, 1.38%, 11/1/27		96,272
	150,000	Kroger Co. (The), Senior Unsecured Notes, 2.65%, 10/15/26 (4)		158,142
	150,000	Sysco Corp., Guaranteed Notes, 5.65%, 4/1/25		174,360
				428,774
		Healthcare Products 0.2%
	250,000	Abbott Laboratories, Senior Unsecured Notes, 3.75%, 11/30/26		280,481
	150,000	Boston Scientific Corp., Senior Unsecured Notes, 3.75%, 3/1/26		165,545
	100,000	Thermo Fisher Scientific, Inc., Senior Unsecured Notes, 4.13%, 3/25/25		111,006
				557,032
		Healthcare Services 0.4%
	150,000	Anthem, Inc., Senior Unsecured Notes, 3.35%, 12/1/24		162,207
	125,000	Centene Corp., Senior Unsecured Notes, 4.63%, 12/15/29		135,288
	200,000	HCA, Inc., Guaranteed Notes, 5.38%, 2/1/25		223,103
	250,000	Humana, Inc., Senior Unsecured Notes, 3.13%, 8/15/29		260,602
	100,000	Quest Diagnostics, Inc., Senior Unsecured Notes, 2.80%, 6/30/31		101,608
	150,000	UnitedHealth Group, Inc., Senior Unsecured Notes, 4.63%, 11/15/41		184,123
				1,066,931
		Household Products 0.1%
	125,000	Clorox Co. (The), Senior Unsecured Notes, 3.05%, 9/15/22		128,945
	100,000	Clorox Co. (The), Senior Unsecured Notes, 1.80%, 5/15/30		95,069
				224,014

4

Value Line Strategic Asset Management Trust 

Schedule of Investments (Continued)

March 31, 2021 (Unaudited)

Principal Amount			Value
		Corporate Bonds & Notes 9.5% (Continued)
		Consumer, Non-cyclical 1.8% (Continued)
		Pharmaceuticals 0.4%
$	125,000	AbbVie, Inc., Senior Unsecured Notes, 2.95%, 11/21/26	$	133,089
	100,000	McKesson Corp., Senior Unsecured Notes, 0.90%, 12/3/25		97,894
	100,000	Merck & Co., Inc., Senior Unsecured Notes, 2.75%, 2/10/25 (4)		106,431
	140,000	Takeda Pharmaceutical Co., Ltd., Senior Unsecured Notes, 3.03%, 7/9/40		135,170
	150,000	Teva Pharmaceutical Finance Netherlands III BV, Guaranteed Notes, 2.80%, 7/21/23		149,520
	100,000	Utah Acquisition Sub, Inc., Guaranteed Notes, 3.95%, 6/15/26		110,101
	200,000	Zoetis, Inc., Senior Unsecured Notes, 3.25%, 2/1/23		208,420
				940,625
				4,629,379
		Energy 0.9%
		Oil & Gas 0.6%
	150,000	Canadian Natural Resources, Ltd., Senior Unsecured Notes, 2.05%, 7/15/25		151,620
	150,000	Diamondback Energy, Inc., Guaranteed Notes, 2.88%, 12/1/24		158,168
	125,000	EOG Resources, Inc., Senior Unsecured Notes, 4.38%, 4/15/30 (4)		143,407
	150,000	Marathon Oil Corp., Senior Unsecured Notes, 3.85%, 6/1/25		160,664
	250,000	Marathon Petroleum Corp., Senior Unsecured Notes, 5.13%, 12/15/26		291,598
	125,000	Occidental Petroleum Corp., Senior Unsecured Notes, 5.50%, 12/1/25		131,936
	150,000	Phillips 66, Guaranteed Notes, 1.30%, 2/15/26 (4)		148,258
	100,000	Shell International Finance B.V., Guaranteed Notes, 2.38%, 11/7/29		100,665
	100,000	Suncor Energy, Inc., Senior Unsecured Notes, 3.10%, 5/15/25		106,754
				1,393,070
		Oil & Gas Services 0.0%
	100,000	Schlumberger Finance Canada, Ltd., Guaranteed Notes, 1.40%, 9/17/25		100,055
		Pipelines 0.3%
	100,000	Boardwalk Pipelines L.P., Guaranteed Notes, 4.95%, 12/15/24		111,962
	100,000	Kinder Morgan, Inc., Guaranteed Notes, 4.30%, 3/1/28		111,749
	150,000	Magellan Midstream Partners L.P., Senior Unsecured Notes, 4.25%, 9/15/46		152,241
	150,000	Spectra Energy Partners L.P., Guaranteed Notes, 4.75%, 3/15/24		164,979
	150,000	TransCanada PipeLines, Ltd., Senior Unsecured Notes, 4.88%, 5/15/48		177,044
				717,975
				2,211,100

5

Value Line Strategic Asset Management Trust 

Schedule of Investments (Continued)

March 31, 2021 (Unaudited)

Principal Amount			Value
		Corporate Bonds & Notes 9.5% (Continued)
		Financial 3.1%
		Banks 1.6%
$	200,000	Australia & New Zealand Banking Group, Ltd., Subordinated Notes, 4.50%, 3/19/24 (2)	$	219,684
	100,000	Bank of Nova Scotia (The), Senior Unsecured Notes, 2.70%, 8/3/26		105,919
	200,000	Barclays PLC, Senior Unsecured Notes, 4.34%, 1/10/28		221,842
	250,000	Canadian Imperial Bank of Commerce, Senior Unsecured Notes, 2.25%, 1/28/25		259,163
	116,000	Citigroup, Inc., Subordinated Notes, 5.30%, 5/6/44		146,432
	200,000	Citigroup, Inc., Senior Unsecured Notes, (3-month LIBOR + 0.90%), 3.35%, 4/24/25 (3)		213,742
	100,000	Cooperatieve Rabobank UA MTN, Senior Unsecured Notes, 3.38%, 5/21/25		108,723
	100,000	Fifth Third Bancorp, Senior Unsecured Notes, 3.65%, 1/25/24		107,734
	100,000	Goldman Sachs Group, Inc. (The), Subordinated Notes, 6.75%, 10/1/37		140,672
	125,000	Goldman Sachs Group, Inc. (The), Senior Unsecured Notes, 3.75%, 2/25/26		137,096
	175,000	HSBC Holdings PLC, Senior Unsecured Notes, 3.90%, 5/25/26		192,875
	150,000	Huntington Bancshares, Inc., Senior Unsecured Notes, 2.63%, 8/6/24		158,302
	150,000	ING Groep N.V., Senior Unsecured Notes, 3.95%, 3/29/27		166,122
	500,000	JPMorgan Chase & Co., Senior Unsecured Notes, 3.20%, 1/25/23		525,187
	100,000	KeyCorp MTN, Senior Unsecured Notes, 2.55%, 10/1/29		101,172
	250,000	Kreditanstalt fuer Wiederaufbau, Guaranteed Notes, 2.63%, 4/12/21		250,122
	200,000	Lloyds Banking Group PLC, Senior Unsecured Notes, 3.90%, 3/12/24 (4)		216,976
	100,000	Morgan Stanley, Series F, Senior Unsecured Notes, 3.88%, 4/29/24		109,185
	125,000	Royal Bank of Canada GMTN, Subordinated Notes, 4.65%, 1/27/26		142,574
	125,000	State Street Corp., Senior Unsecured Notes, 2.40%, 1/24/30		127,082
	250,000	Svenska Handelsbanken AB, Guaranteed Notes, 3.35%, 5/24/21		251,070
	125,000	Truist Bank, Subordinated Notes, (5-year Treasury Constant Maturity Rate + 1.15%), 2.64%, 9/17/29 (3)(4)		130,941
				4,032,615
		Diversified Financial Services 0.5%
	175,000	AerCap Ireland Capital DAC/AerCap Global Aviation Trust, Guaranteed Notes, 1.75%, 1/30/26		169,896
	150,000	Air Lease Corp., Senior Unsecured Notes, 3.63%, 4/1/27 (4)		157,719
	150,000	American Express Co., Senior Unsecured Notes, 3.13%, 5/20/26		161,220
	100,000	BlackRock, Inc., Senior Unsecured Notes, 2.40%, 4/30/30		101,372
	150,000	Discover Financial Services, Senior Unsecured Notes, 3.95%, 11/6/24 (4)		163,406
	100,000	ORIX Corp., Senior Unsecured Notes, 3.25%, 12/4/24		107,964
	100,000	Stifel Financial Corp., Senior Unsecured Notes, 4.25%, 7/18/24		110,655
	170,000	Synchrony Financial, Senior Unsecured Notes, 4.25%, 8/15/24		185,025
				1,157,257
		Insurance 0.5%
	100,000	Allstate Corp. (The), Senior Unsecured Notes, 1.45%, 12/15/30		91,507
	100,000	Aon Corp., Guaranteed Notes, 3.75%, 5/2/29		109,963
	250,000	Berkshire Hathaway, Inc., Senior Unsecured Notes, 3.75%, 8/15/21 (4)		253,272
	250,000	CNA Financial Corp., Senior Unsecured Notes, 3.95%, 5/15/24		271,561
	175,000	PartnerRe Finance B LLC, Guaranteed Notes, 3.70%, 7/2/29		191,043
	200,000	Principal Financial Group, Inc., Guaranteed Notes, 3.70%, 5/15/29		218,872
	100,000	Prudential Financial, Inc., Junior Subordinated Notes, (3-month LIBOR + 2.67%), 5.70%, 9/15/48 (3)(4)		114,205
	100,000	Willis North America, Inc., Guaranteed Notes, 2.95%, 9/15/29		103,194
				1,353,617

6

Value Line Strategic Asset Management Trust 

Schedule of Investments (Continued)

March 31, 2021 (Unaudited)

Principal Amount			Value
		Corporate Bonds & Notes 9.5% (Continued)
		Financial 3.1% (Continued)
		REITS 0.5%
$	150,000	American Tower Corp., Senior Unsecured Notes, 3.70%, 10/15/49	$	151,157
	125,000	AvalonBay Communities, Inc. GMTN, Senior Unsecured Notes, 3.45%, 6/1/25		135,967
	100,000	Digital Realty Trust L.P., Guaranteed Notes, 3.60%, 7/1/29		107,385
	200,000	Duke Realty L.P., Senior Unsecured Notes, 4.00%, 9/15/28		221,721
	125,000	Prologis L.P., Senior Unsecured Notes, 2.25%, 4/15/30		123,508
	125,000	Sabra Health Care L.P., Guaranteed Notes, 3.90%, 10/15/29		127,470
	225,000	Welltower, Inc., Senior Unsecured Notes, 4.25%, 4/15/28		250,392
	150,000	Weyerhaeuser Co., Senior Unsecured Notes, 6.95%, 10/1/27		190,867
				1,308,467
				7,851,956
		Industrial 0.7%
		Aerospace/Defense 0.2%
	250,000	L3Harris Technologies, Inc., Senior Unsecured Notes, 4.40%, 6/15/28		283,533
	125,000	Teledyne Technologies, Inc., Senior Unsecured Notes, 1.60%, 4/1/26		124,042
	175,000	United Technologies Corp., Senior Unsecured Notes, 4.13%, 11/16/28		196,960
				604,535
		Building Materials 0.1%
	125,000	Owens Corning, Senior Unsecured Notes, 3.95%, 8/15/29		137,470
		Electronics 0.1%
	100,000	Agilent Technologies, Inc., Senior Unsecured Notes, 2.10%, 6/4/30		97,766
	100,000	Flex, Ltd., Senior Unsecured Notes, 4.75%, 6/15/25		111,517
				209,283
		Miscellaneous Manufacturers 0.1%
	170,000	Textron, Inc., Senior Unsecured Notes, 3.88%, 3/1/25		183,518
		Packaging & Containers 0.1%
	145,000	Ball Corp., Guaranteed Notes, 4.00%, 11/15/23		154,153
	100,000	WRKCo, Inc., Guaranteed Notes, 3.90%, 6/1/28		110,258
				264,411
		Transportation 0.1%
	250,000	CSX Corp., Senior Unsecured Notes, 3.35%, 9/15/49		244,605
				1,643,822
		Technology 0.5%
		Computers 0.0%
	100,000	HP, Inc., Senior Unsecured Notes, 3.00%, 6/17/27		105,625
		Semiconductors 0.3%
	100,000	Applied Materials, Inc., Senior Unsecured Notes, 1.75%, 6/1/30		96,009
	175,000	KLA Corp., Senior Unsecured Notes, 4.10%, 3/15/29		196,625
	125,000	Micron Technology, Inc., Senior Unsecured Notes, 2.50%, 4/24/23		129,517
	125,000	NVIDIA Corp., Senior Unsecured Notes, 2.85%, 4/1/30		131,184
	100,000	Xilinx, Inc., Senior Unsecured Notes, 2.38%, 6/1/30		97,324
				650,659
		Software 0.2%
	150,000	Citrix Systems, Inc., Senior Unsecured Notes, 4.50%, 12/1/27		170,702
	100,000	Electronic Arts, Inc., Senior Unsecured Notes, 4.80%, 3/1/26 (4)		115,288
	100,000	Fiserv, Inc., Senior Unsecured Notes, 3.50%, 7/1/29		107,793
	100,000	Intuit, Inc., Senior Unsecured Notes, 1.65%, 7/15/30		94,774
	100,000	Roper Technologies, Inc., Senior Unsecured Notes, 2.00%, 6/30/30		95,167
				583,724
				1,340,008

7

Value Line Strategic Asset Management Trust

Schedule of Investments (Continued)

March 31, 2021 (Unaudited)

Principal Amount				Value
			Corporate Bonds & Notes 9.5% (Continued)
			Utilities 0.5%
			Electric 0.4%
$	100,000		CenterPoint Energy, Inc., Senior Unsecured Notes, 2.95%, 3/1/30	$	102,533
	150,000		Consolidated Edison Co. of New York, Inc., Senior Unsecured Notes, 4.50%, 12/1/45		172,711
	150,000		Dominion Energy, Inc., Senior Unsecured Notes, 4.25%, 6/1/28		169,318
	100,000		Eversource Energy, Series R, Senior Unsecured Notes, 1.65%, 8/15/30		92,673
	125,000		Georgia Power Co., Series B, Senior Unsecured Notes, 2.65%, 9/15/29		127,451
	100,000		ITC Holdings Corp., Senior Unsecured Notes, 3.25%, 6/30/26		107,782
	125,000		Pinnacle West Capital Corp., Senior Unsecured Notes, 1.30%, 6/15/25		124,218
	125,000		Public Service Enterprise Group, Inc., Senior Unsecured Notes, 1.60%, 8/15/30 (4)		115,056
	125,000		Sempra Energy, Senior Unsecured Notes, 4.00%, 2/1/48		131,278
					1,143,020
			Gas 0.1%
	175,000		National Fuel Gas Co., Senior Unsecured Notes, 5.20%, 7/15/25		196,322
					1,339,342
			Total Corporate Bonds & Notes (Cost $23,274,625)		24,078,449
		Foreign Government Obligations 0.3%
	300,000		European Bank for Reconstruction & Development GMTN, Senior Unsecured Notes, 2.75%, 3/7/23		314,351
	250,000		Export-Import Bank of Korea, Senior Unsecured Notes, 3.00%, 11/1/22		259,775
	150,000		Panama Government International Bond, Senior Unsecured Notes, 4.00%, 9/22/24		163,375
			Total Foreign Government Obligations (Cost $700,584)		737,501
		Long-Term Municipal Securities 0.7%
			California 0.0%
	100,000		University of California, Taxable General Revenue Bonds, Series AC, 4.80%, 5/15/31		116,189
			District of Columbia 0.1%
	300,000		District of Columbia Income Tax Secured Revenue Bonds, Build America Bonds, 4.91%, 12/1/23		334,628
			Michigan 0.1%
	150,000		Lincoln Consolidated School District, General Obligation Limited, Series B, 4.32%, 5/1/37		164,126
			New Mexico 0.0%
	100,000		New Mexico Hospital Equipment Loan Council, Presbyterian Healthcare, Revenue Bonds, Series B, 4.41%, 8/1/46		116,708
			New York 0.2%
	150,000		City of New York, Build America Bonds, General Obligation Unlimited, Series F1, 5.89%, 12/1/24		178,087
	125,000		City of New York, General Obligation Limited, Series F, Subseries F3, 3.63%, 4/1/32		133,904
	150,000		New York City Transitional Finance Authority Future Tax Secured Revenue, Subordinate Bonds, Revenue Bonds, 3.00%, 2/1/26		160,979
					472,970
			North Dakota 0.1%
	150,000		City of Fargo, North Dakota, Improvement Refunding Bonds, General Obligation Unlimited, Series B, 2.70%, 5/1/32		155,900
			Texas 0.1%
	250,000		Dallas Independent School District Qualified School Construction Notes, General Obligation Limited, 5.05%, 8/15/33		270,201
	150,000		Texas A&M University Board, Revenue Bonds, Series B, 3.48%, 5/15/49		155,973
					426,174
			Washington 0.1%
	125,000		Grant County Public Utility District No 2 Priest Rapids Hydroelectric Project, Revenue Bonds, 3.31%, 1/1/43		129,827
			Total Long-Term Municipal Securities (Cost $1,821,276)		1,916,522

8

Value Line Strategic Asset Management Trust

Schedule of Investments (Continued)

March 31, 2021 (Unaudited)

Principal Amount				Value
	Residential Mortgage-Backed Securities 5.4%
$               46,721		FHLMC Series 4151, Class PA	$	48,666
50,876		FHLMC Gold PC Pool #G05447		57,085
311,091		FHLMC Gold PC Pool #G08732		329,079
60,553		FHLMC Gold PC Pool #J13885		64,603
96,828		FHLMC Gold PC Pool #J17969		102,368
127,736		FHLMC Gold PC Pool #Q23725		140,762
54,252		FHLMC Pool #A96409		58,633
168,356		FHLMC Pool #AG08748		179,476
239,183		FHLMC Pool #QB3856		238,646
208,496		FHLMC Pool #SD8023		214,001
162,631		FHLMC Pool #SD8098		162,264
1,097,347		FHLMC Pool #SD8134		1,094,869
17,358		FNMA Pool #254733		19,171
69,768		FNMA Pool #255667		77,099
60,768		FNMA Pool #890236		68,141
118,691		FNMA Pool #995245		137,805
92,455		FNMA Pool #AA7720		101,861
43,108		FNMA Pool #AB1259		50,135
140,160		FNMA Pool #AB4449		155,195
138,618		FNMA Pool #AB5472		149,808
86,457		FNMA Pool #AB6286		90,276
105,928		FNMA Pool #AB8144		121,743
31,513		FNMA Pool #AD2351		33,543
153,934		FNMA Pool #AD6374		178,260
125,248		FNMA Pool #AH4865		137,201
32,129		FNMA Pool #AH5434		34,964
69,262		FNMA Pool #AH8932		77,099
43,084		FNMA Pool #AI1019		48,588
52,202		FNMA Pool #AI1105		58,852
115,661		FNMA Pool #AI3052		123,359
65,468		FNMA Pool #AJ6932		69,192
134,939		FNMA Pool #AO2961		149,414
674,206		FNMA Pool #AP1340		730,205
266,998		FNMA Pool #AS9459		293,093
193,055		FNMA Pool #AT0969		204,922
353,675		FNMA Pool #AT8849		389,026
99,902		FNMA Pool #AU6043		105,789
149,699		FNMA Pool #AU7025		158,822
97,941		FNMA Pool #AU8070		106,124
140,314		FNMA Pool #AU8846		149,097
67,471		FNMA Pool #AY2728		70,466
41,643		FNMA Pool #AY5005		45,662
69,172		FNMA Pool #BD8211		74,784
339,198		FNMA Pool #CA5540		358,531
198,166		FNMA Pool #FM5091		191,613
600,000		FNMA Pool #FM6468		643,949
29,997		FNMA Pool #MA0799		32,020
174,196		FNMA Pool #MA4077		173,805
226,106		FNMA Pool #MA4100		225,596
93,776		FNMA Pool #MA4119		93,565
964,594		FNMA Pool #MA4159		990,062
491,877		FNMA Pool #MA4222		519,836
494,813		FNMA Pool #MA4237		493,702
991,000		FNMA Pool #MA4256		1,017,166
1,000,000		FNMA Pool #MA4328		1,004,961
49,724		GNMA		51,726
100,977		GNMA I Pool #650494		117,650
154,651		GNMA II Pool #MA1090		167,988
77,526		GNMA II Pool #MA1520		82,519
28,037		GNMA II Pool #MA2445		30,055
108,315		GNMA II Pool #MA5076		113,033
357,058		GNMA Pool #4016		418,344
54,799		GNMA Pool #MA1375		59,433
				13,685,702
		Total Residential Mortgage-Backed Securities (Cost $13,429,587)		13,685,702
	U.S. Government Agency Obligations 0.4%
250,000		FHLB, 3.00%, 10/12/21		253,901
120,000		FHLB, 3.25%, 6/9/23		127,710
250,000		FHLB, 3.25%, 3/8/24		270,869
250,000		FNMA, 2.38%, 1/19/23		259,947
		Total U.S. Government Agency Obligations (Cost $872,613)		912,427
	U.S. Treasury Obligations 4.3%
200,000		U.S. Treasury Bonds, 5.38%, 2/15/31 (4)		267,258
760,000		U.S. Treasury Bonds, 4.50%, 5/15/38		1,018,281
540,000		U.S. Treasury Bonds, 3.00%, 5/15/42		601,699
1,169,000		U.S. Treasury Bonds, 3.00%, 2/15/48		1,306,403
900,000		U.S. Treasury Notes, 0.25%, 4/15/23		901,266
1,060,000		U.S. Treasury Notes, 2.00%, 4/30/24		1,112,337
595,000		U.S. Treasury Notes, 2.25%, 11/15/24		631,211
620,000		U.S. Treasury Notes, 0.50%, 3/31/25		615,786
2,000,000		U.S. Treasury Notes, 0.38%, 11/30/25		1,955,391
50,000		U.S. Treasury Notes, 2.63%, 12/31/25		54,084
350,000		U.S. Treasury Notes, 2.13%, 5/31/26		370,139
250,000		U.S. Treasury Notes, 0.63%, 3/31/27		241,562
800,000		U.S. Treasury Notes, 2.88%, 5/15/28		878,875
700,000		U.S. Treasury Notes, 2.63%, 2/15/29		756,602
125,000		U.S. Treasury Notes, 1.75%, 11/15/29		126,387
		Total U.S. Treasury Obligations (Cost $10,683,326)		10,837,281

Shares				Value
		Short-Term Investments 6.2%
		Money Market Funds 6.2%
	13,847,460		State Street Institutional U.S. Government Money Market Fund, Premier Class, 0.04%  (5)		13,847,460

9

Value Line Strategic Asset Management Trust

Schedule of Investments (Continued)

March 31, 2021 (Unaudited)

1,932,188 State Street Navigator Securities Lending Government Money Market Portfolio  ⁽⁶⁾ $ 1,932,188

		15,779,648
Total Short-Term Investments (Cost $15,779,648)		15,779,648
Total Investments  101.5% (Cost $133,189,297)	$	257,717,840
Excess Of Liabilities Over Cash And Other Assets (1.5)%		(3,801,463	)
Net Assets (7)  100.0%		253,916,377

(1)	Non-income producing.
(2)	Pursuant to Rule 144A under the Securities Act of 1933, this security can only be sold to qualified institutional investors.
(3)	Floating or variable rate security. The rate disclosed is the rate in effect as of March 31, 2021. The information in parentheses represents the benchmark and reference rate for each relevant security and the rate adjusts based upon the reference rate and spread. The security may be further subject to interest rate floor and caps. For securities which do not indicate a reference rate and spread in their descriptions, the interest rate adjusts periodically based on current interest rates and, for mortgage-backed securities, prepayments in the underlying pool of assets.
(4)	A portion or all of the security was held on loan. As of March 31, 2021, the market value of the securities on loan was $2,332,711.
(5)	Rate reflects 7 day yield as of March 31, 2021.
(6)	Securities with an aggregate market value of $2,332,711 were out on loan in exchange for collateral including $1,932,188 of cash collateral as of March 31, 2021. The collateral was invested in a cash collateral reinvestment vehicle.
(7)	For federal income tax purposes, the aggregate cost was $133,189,297, aggregate gross unrealized appreciation was $125,436,590, aggregate gross unrealized depreciation was $908,047 and the net unrealized appreciation was $124,528,543.
FHLB	Federal Home Loan Bank.
FHLMC	Federal Home Loan Mortgage Corp.
FNMA	Federal National Mortgage Association.
FREMF	Freddie Mac Multifamily.
GMTN	Global Medium Term Note.
GNMA	Government National Mortgage Association.
LIBOR	London Interbank Offered Rate.
MTN	Medium Term Note.
REIT	Real Estate Investment Trust.

10

The Fund follows fair valuation accounting standards (FASB ASC 820-10) which establishes a definition of fair value and set out a hierarchy for measuring fair value. These standards require additional disclosures about the various inputs and valuation techniques used to develop the measurements of fair value and a discussion of changes in valuation techniques and related inputs during the period. These inputs are summarized in the three broad levels listed below:

• Level 1 – Inputs that reflect unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access at the measurement date;

• Level 2 – Inputs other than quoted prices that are observable for the asset or liability either directly or indirectly, including inputs in markets that are not considered to be active;

• Level 3 – Inputs that are unobservable.

Transfers between investment levels may occur as the markets fluctuate and/or the availability of data used in an investment’s valuation changes. The inputs or methodologies used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

The following table summarizes the inputs used to value the Fund's investments in securities as of March 31, 2021:

Investments in Securities:	Level 1		Level 2		Level 3		Total
Assets
Common Stocks*	$	179,814,684	$	—	$	—	$	179,814,684
Asset-Backed Securities		—		2,150,873		—		2,150,873
Commercial Mortgage-Backed Securities		—		7,804,753		—		7,804,753
Corporate Bonds & Notes*		—		24,078,449		—		24,078,449
Foreign Government Obligations		—		737,501		—		737,501
Long-Term Municipal Securities*		—		1,916,522		—		1,916,522
U.S. Government Agency Obligations		—		912,427		—		912,427
Residential Mortgage-Backed Securities		—		13,685,702		—		13,685,702
U.S. Treasury Obligations		—		10,837,281		—		10,837,281
Short-Term Investments		15,779,648		—		—		15,779,648
Total Investments in Securities	$	195,594,332	$	62,123,508	$	—	$	257,717,840

* See Schedule of Investments for further breakdown by category.

An investment asset’s or liability’s level within the fair value hierarchy is based on the lowest level input, individually or in aggregate, that is significant to fair value measurement. The objective of fair value measurement remains the same even when there is a significant decrease in the volume and level of activity for an asset or liability and regardless of the valuation techniques used.

During the period ended March 31, 2021, there were no Level 3 investments. The Schedule of Investments includes a breakdown of the Fund’s investments by category.