NPORT-EX 2 odrf.htm

Oakhurst Strategic Defined Risk Fund
Schedule of Investments
January 31, 2026 (Unaudited)

EXCHANGE TRADED FUNDS - 15.7%
  
Shares
    
Value
 
State Street SPDR S&P 500 ETF Trust (a)
    
16,418
      
11,360,763
  
TOTAL EXCHANGE TRADED FUNDS (Cost $8,095,317)
      
11,360,763
  

PURCHASED OPTIONS(b) - 18.7%
  
Notional Amount
    
Contracts(c)
    
Value
 
Call Options - 18.6%
              
State Street SPDR S&P 500 ETF Trust
              
Expiration: 12/18/2026; Exercise Price: $500.00
  
$
13,839,400
      
200
    
$
4,212,400
  
Expiration: 12/18/2026; Exercise Price: $510.00
    
8,788,019
      
127
      
2,560,447
  
Expiration: 12/18/2026; Exercise Price: $515.00
    
10,863,929
      
157
      
3,094,706
  
Expiration: 12/18/2026; Exercise Price: $520.00
    
9,618,383
      
139
      
2,677,557
  
Expiration: 12/18/2026; Exercise Price: $535.00
    
3,459,850
      
50
      
897,325
  
Total Call Options
                    
13,442,435
  
                         
Put Options - 0.1%
                  
State Street SPDR S&P 500 ETF Trust
                  
Expiration: 03/20/2026; Exercise Price: $650.00
    
2,906,274
      
42
      
22,260
  
Expiration: 12/18/2026; Exercise Price: $490.00
    
3,113,865
      
45
      
31,410
  
Total Put Options
                    
53,670
  
TOTAL PURCHASED OPTIONS (Cost $5,732,875)
      
13,496,105
  
                         
SHORT-TERM INVESTMENTS – 45.3%
    
Shares
    
Value
 
Money Market Funds - 45.3%
                  
First American Government Obligations Fund - Class X, 3.61% (d)(e)
      
32,711,283
      
32,711,283
  
TOTAL SHORT-TERM INVESTMENTS (Cost $32,711,283)
      
32,711,283
  
                         
TOTAL INVESTMENTS - 79.7% (Cost $46,539,475)
      
57,568,151
  
Other Assets in Excess of Liabilities - 20.3% (f)
      
14,692,571
  
TOTAL NET ASSETS - 100.0%
                  
$
72,260,722
  
           
Percentages are stated as a percent of net assets.
ETF – Exchange Traded Fund
          

(a)
Held in connection with written option contracts. See Schedule of Written Options for further information.
(b)
Non-income producing security.
(c)
100 shares per contract.
(d)
The rate shown represents the 7-day annualized yield as of January 31, 2026.
(e)
Fair value of this security exceeds 25% of the Fund’s net assets.  Additional information for this security, including the financial statements, is available from the SEC’s EDGAR database at https://www.sec.gov/.
(f)
Includes cash of $3,590,639 that is pledged as collateral for written options.
   
Oakhurst Strategic Defined Risk Fund
  
Schedule of Written Options
  
January 31, 2026 (Unaudited)
  
   
WRITTEN OPTIONS(a)
  
Notional Amount
    
Contracts(b)
    
Value
  
Written Put Options
  
State Street SPDR S&P 500 ETF Trust
                  
Expiration: 03/20/2026; Exercise Price: $580.00
  
$
(2,906,274
)
    
(42
)
  
$
(5,754
)
Expiration: 12/18/2026; Exercise Price: $360.00
    
(13,839,400
)
    
(200
)
    
(51,500
)
Expiration: 12/18/2026; Exercise Price: $410.00
    
(3,113,865
)
    
(45
)
    
(16,763
)
Expiration: 12/18/2026; Exercise Price: $415.00
    
(19,651,948
)
    
(284
)
    
(110,050
)
Expiration: 12/18/2026; Exercise Price: $420.00
    
(5,881,745
)
    
(85
)
    
(34,128
)
Expiration: 12/18/2026; Exercise Price: $435.00
    
(3,459,850
)
    
(50
)
    
(22,525
)
Expiration: 12/18/2026; Exercise Price: $520.00
    
(3,113,865
)
    
(45
)
    
(40,387
)
TOTAL WRITTEN OPTIONS (Premiums received $1,221,731)
                  
$
(281,107
)

(a)
Non-income producing security
(b)
100 shares per contract.
Summary of Fair Value Disclosure as of January 31, 2026 (Unaudited)
 
Oakhurst Strategic Defined Risk Fund (the "Fund") has adopted fair value accounting standards which establish 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, a discussion of changes in valuation techniques and related inputs during the period, and expanded disclosure of valuation levels for major security types. These inputs are summarized in the three broad levels listed below. The inputs or valuation methodology used for valuing securities are not an indication of the risk associated with investing in those securities.
 
Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access.
 
Level 2 - Observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates and similar data.
 
Level 3 - Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available, representing the Fund’s own assumptions about the assumptions a market participant would use in valuing the asset or liability, and based on the best information available.
 
The following is a summary of the fair valuation hierarchy of the Fund’s securities as of January 31, 2026:
 
   
Level 1
    
Level 2
    
Level 3
    
Total
  
Assets:
                        
Investments at Fair Value:
                        
  Purchased Options
  
$
–
    
$
13,496,105
    
$
–
    
$
13,496,105
  
  Exchange Traded Funds
    
11,360,763
      
–
      
–
      
11,360,763
  
  Money Market Funds
    
32,711,283
      
–
      
–
      
32,711,283
  
Total Investments
  
$
44,072,046
    
$
13,496,105
    
$
–
    
$
57,568,151
  
                                 
Liabilities:
                                
Investments at Fair Value:
                                
  Written Options
  
$
–
    
$
(281,107
)
  
$
–
    
$
(281,107
)
Total Investments in Securities
  
$
–
    
$
(281,107
)
  
$
–
    
$
(281,107
)
   
As of period ended January 31, 2026, the Fund did not hold any Level 3 securities, nor were there any transfers into or out of Level 3. Refer to the Fund’s Schedule of Investments for further information on the classification of investments.