Caldwell & Orkin Funds NPORT-P Caldwell & Orkin - Gator Capital Long/short Fund (Jan 2022 report)

Gator

Capital

Long/Short

Fund

Schedule

of

Investments

January

31,

2022

-

(Unaudited)

COMMON

STOCKS

—

LONG

—

90.34%

Shares

Fair

Value

Application

Software

—

1.93%

Loyalty

Ventures,

Inc.

(a)

14,000‌

$

410,340‌

Banks

—

27.36%

Axos

Financial,

Inc.

(a)

5,900‌

303,850‌

Bridgewater

Bancshares,

Inc.

(a)

24,000‌

426,960‌

ConnectOne

Bancorp,

Inc.

9,400‌

300,894‌

Dime

Community

Bancshares,

Inc.

7,063‌

246,922‌

Financial

Institutions,

Inc.

4,520‌

145,725‌

First

BanCorp.

62,800‌

913,741‌

First

Business

Financial

Services,

Inc.

7,500‌

252,600‌

First

Citizens

BancShares

,

Inc.,

Class

A

471‌

366,947‌

First

Internet

Bancorp

10,000‌

502,600‌

Flushing

Financial

Corp.

12,100‌

285,681‌

Meridian

Bancorp,

Inc.

6,874‌

242,309‌

OFG

Bancorp

24,700‌

683,449‌

Popular,

Inc.

7,000‌

624,190‌

Republic

First

Bancorp,

Inc.

(a)

63,200‌

271,760‌

UMB

Financial

Corp.

2,500‌

246,125‌

5,813,753‌

Casinos

&

Gaming

—

1.83%

Las

Vegas

Sands

Corp.

(a)

6,000‌

262,800‌

Melco

Resorts

&

Entertainment

Ltd.

-

ADR

(a)

12,000‌

126,720‌

389,520‌

Coal

Mining

—

1.48%

SunCoke

Energy,

Inc.

46,000‌

315,100‌

Computer

Hardware

&

Storage

—

1.53%

Dell

Technologies,

Inc.,

Class

C

(a)

4,000‌

227,240‌

Hewlett

Packard

Enterprise

Co.

6,000‌

97,980‌

325,220‌

Consumer

Finance

—

11.93%

Ally

Financial,

Inc.

13,000‌

620,360‌

Navient

Corp.

42,063‌

733,158‌

OneMain

Holdings,

Inc.

12,500‌

645,750‌

Synchrony

Financial

12,600‌

536,634‌

2,535,902‌

Diversified

Banks

—

3.02%

Barclays

PLC,

Sponsored

-

ADR

59,000‌

642,510‌

Fabricated

Metal

&

Hardware

—

1.12%

Ampco

-Pittsburgh

Corp.

(a)

41,622‌

237,662‌

Infrastructure

Software

—

1.07%

VMware,

Inc.,

Class

A

1,762‌

226,382‌

Institutional

Brokerage

—

0.64%

Arlington

Asset

Investment

Corp.,

Class

A

(a)

39,625‌

135,914‌

Insurance

Brokers

&

Services

—

0.58%

Kingstone

Cos.,

Inc.

22,629‌

122,649‌

Gator

Capital

Long/Short

Fund

Schedule

of

Investments

(continued)

January

31,

2022

-

(Unaudited)

COMMON

STOCKS

—

LONG

—

90.34%

-

continued

Shares

Fair

Value

Internet

Media

&

Services

—

2.59%

Groupon,

Inc.

(a)

18,000‌

$

549,720‌

Investment

Companies

—

3.62%

BBX

Capital,

Inc.

(a)

69,638‌

768,803‌

IT

Services

—

0.87%

Kyndryl

Holdings,

Inc.

(a)

11,000‌

185,680‌

Life

Insurance

—

4.35%

Jackson

Financial,

Inc.,

Class

A

24,100‌

924,717‌

Local

TV

&

Radio

Broadcast

—

0.75%

Audacy

,

Inc.

(a)

66,000‌

159,720‌

Mortgage

Finance

—

8.83%

Enact

Holdings,

Inc.

(a)

25,687‌

562,032‌

MGIC

Investment

Corp.

28,900‌

438,702‌

New

Residential

Investment

Corp.

29,200‌

310,980‌

PennyMac

Financial

Services,

Inc.

9,000‌

564,300‌

1,876,014‌

P&C

Insurance

—

5.53%

Ambac

Financial

Group,

Inc.

(a)

18,700‌

264,979‌

Arch

Capital

Group

Ltd.

(a)

10,000‌

463,200‌

NMI

Holdings,

Inc.,

Class

A

(a)

18,000‌

445,320‌

1,173,499‌

Private

Equity

—

2.31%

Victory

Capital

Holdings,

Inc.,

Class

A

15,022‌

490,769‌

Professional

Services

—

0.97%

H&R

Block,

Inc.

9,000‌

205,740‌

Real

Estate

Services

—

2.79%

Realogy

Holdings

Corp.

(a)

36,000‌

594,000‌

Steel

Producers

—

1.66%

United

States

Steel

Corp.

17,000‌

352,240‌

Wealth

Management

—

3.58%

Ameriprise

Financial,

Inc.

2,500‌

760,775‌

Total

Common

Stocks

—

Long—

(Cost $13,924,269)

19,196,629‌

PREFERRED

STOCKS

—

LONG

—

0.41%

Shares

Fair

Value

Specialty

Finance

—

0.41%

Federal

National

Mortgage

Association

(a)

9,625‌

41,965‌

Federal

National

Mortgage

Association,

Series

R,

7.63%

(a)

20,250‌

44,145‌

Total

Preferred

Stocks

—

Long—

(Cost $176,270)

86,110‌

WARRANTS

—

LONG

—

0.30%

Shares

Fair

Value

Ampco

-Pittsburgh

Corp.,

Expires

08/01/25,

Strike

Price

$6

(a)

91,000‌

$

62,790‌

Total

Warrants

—

Long—

(Cost $27,297)

62,790‌

Gator

Capital

Long/Short

Fund

Schedule

of

Investments

(continued)

January

31,

2022

-

(Unaudited)

MONEY

MARKET

FUNDS

-

16.57%

First

American

Treasury

Obligations

Fund

-

Class

X,

0.01%

(b)

3,520,217‌

$

3,520,217‌

Total

Money

Market

Funds

(Cost

$3,520,217)

3,520,217‌

Total

Investments

—

107.62%

(Cost

$17,648,052)

22,865,746‌

Liabilities

in

Excess

of

Other

Assets — (7.62)%

(1,618,913‌)

NET

ASSETS

—

100.00%

$

21,246,833‌

(a)

Non-income

producing

security.

(b)

Rate

disclosed

is

the

seven

day

effective

yield

as

of

January

31,

2022.

ADR

-

American

Depositary

Receipt.

Gator

Capital

Long/Short

Fund

Schedule

of

Securities

Sold

Short

January

31,

2022

-

(Unaudited)

COMMON

STOCKS

—

SHORT

—

(28.17)%

Shares

Fair

Value

Application

Software

—

(0.18)%

Root,

Inc.,

Class

A

(a)

(19,000‌)

$

(38,190‌)

Auto

Parts

—

(0.05)%

Romeo

Power,

Inc.

(a)

(4,700‌)

(11,092‌)

Automobiles

—

(0.35)%

Tesla,

Inc.

(a)

(80‌)

(74,938‌)

Banks

—

(20.16)%

Capitol

Federal

Financial,

Inc.

(27,000‌)

(300,510‌)

City

Holding

Co.

(2,301‌)

(184,563‌)

Commerce

Bancshares,

Inc.

(4,305‌)

(296,658‌)

Community

Bank

System,

Inc.

(2,700‌)

(192,834‌)

Cullen/Frost

Bankers,

Inc.

(1,900‌)

(267,919‌)

First

Financial

Bankshares

,

Inc.

(6,250‌)

(293,688‌)

First

Interstate

BancSystem

,

Inc.,

Class

A

(10,481‌)

(385,177‌)

Glacier

Bancorp,

Inc.

(1,000‌)

(51,930‌)

Lakeland

Financial

Corp.

(3,000‌)

(239,790‌)

Northwest

Bancshares,

Inc.

(9,142‌)

(128,994‌)

Old

National

Bancorp

(22,100‌)

(405,093‌)

Park

National

Corp.

(1,700‌)

(230,282‌)

Simmons

First

National

Corp.,

Class

A

(13,700‌)

(391,820‌)

Stock

Yards

Bancorp,

Inc.

(3,200‌)

(190,656‌)

Umpqua

Holdings

Corp.

(21,000‌)

(425,880‌)

United

Bankshares

,

Inc.

(4,500‌)

(158,985‌)

Westamerica

Bancorp

(2,400‌)

(139,392‌)

(4,284,171‌)

Catalog

&

TV

Based

Retailers

—

(0.40)%

Warby

Parker,

Inc.,

Class

A

(a)

(2,300‌)

(85,491‌)

Commercial

Vehicles

—

(0.38)%

Nikola

Corp.

(a)

(10,000‌)

(80,300‌)

Consumer

Finance

—

(1.85)%

SoFi

Technologies,

Inc.

(a)

(31,500‌)

(393,120‌)

Infrastructure

Software

—

(0.41)%

Upstart

Holdings,

Inc.

(a)

(800‌)

(87,208‌)

Internet

Media

&

Services

—

(0.33)%

Opendoor

Technologies,

Inc.

(a)

(7,000‌)

(69,510‌)

Non-Alcoholic

Beverages

—

(0.42)%

Oatly

Group

AB

-

ADR

(a)

(12,500‌)

(88,875‌)

P&C

Insurance

—

(0.64)%

Lemonade,

Inc.

(a)

(600‌)

(19,158‌)

Metromile

,

Inc.

(a)

(16,000‌)

(26,560‌)

Palomar

Holdings,

Inc.

(a)

(1,700‌)

(89,675‌)

(135,393‌)

Packaged

Food

—

(0.49)%

Beyond

Meat,

Inc.

(a)

(1,600‌)

(104,208‌)

Gator

Capital

Long/Short

Fund

Schedule

of

Securities

Sold

Short

(continued)

January

31,

2022

-

(Unaudited)

COMMON

STOCKS

—

SHORT

—

(28.17)%

-

continued

Shares

Fair

Value

Real

Estate

Services

—

(1.91)%

Compass,

Inc.,

Class

A

(a)

(47,400‌)

$

(406,692‌)

Wealth

Management

—

(0.60)%

Robinhood

Markets,

Inc.,

Class

A

(a)

(9,000‌)

(127,350‌)

Total

Common

Stocks

-

Short

(Proceeds

Received $6,492,516)

(5,986,538‌)

EXCHANGE-TRADED

FUNDS

—

SHORT

—

(1.04)%

Shares

Fair

Value

Exchange-Traded

Funds

—

(1.04)%

Direxion

Daily

Financial

Bear

3X

Shares

(a)

(11,700‌)

(220,545‌)

Total

Exchange-Traded

Funds

(Cost $(499,663))

(220,545‌)

TOTAL

SECURITIES

SOLD

SHORT

-

(29.21)%

(Proceeds

Received

$6,992,179)

(6,207,083‌)

(a)

Non-income

producing

security.

ADR

-

American

Depositary

Receipt.