The Diplomat Fund

SCHEDULE OF INVESTMENTS

As of January 31, 2024 (Unaudited)

Principal Amount			Value
		U.S. TREASURY NOTES — 95.4%
$	3,632,100	United States Treasury Note 2.750%, 8/15/20321	$	3,318,123
	3,370,700	3.500%, 2/15/2033		3,256,019
	836,000	3.375%, 5/15/2033		799,033
	2,725,100	3.875%, 8/15/2033		2,708,921
	676,000	4.500%, 11/15/2033		705,892
		TOTAL U.S. TREASURY NOTES      (Cost $10,812,699)		10,787,988
	Number of Shares
		SHORT-TERM INVESTMENTS — 2.9%
	325,951	Fidelity Investments Money Market Government Portfolio - Institutional Class 5.143%2		325,951
		TOTAL SHORT-TERM INVESTMENTS      (Cost $325,951)		325,951
		TOTAL INVESTMENTS — 98.3%      (Cost $11,138,650)		11,113,939
		Other Assets in Excess of Liabilities — 1.7%		197,013
		TOTAL NET ASSETS — 100.0%	$	11,310,952

1	All or a portion of this security is segregated as collateral for securities sold short. The market value of the securities pledged as collateral was $385,063, which represents 3.4% of total net assets of the Fund.
2	The rate is the annualized seven-day yield at period end.

The Diplomat Fund

SCHEDULE OF INVESTMENTS - Continued

As of January 31, 2024 (Unaudited)

FUTURES CONTRACTS

						Value/
Number of						Unrealized
Contracts		Expiration	Notional			Appreciation
Long (Short)	Description	Date	Value			(Depreciation)
(162)	U.S. 10 Year Treasury Note	March 2024	$	(18,034,562	)	$	(162,594	)
TOTAL FUTURES CONTRACTS			$	(18,034,562	)	$	(162,594	)