NPORT-EX 2 fixed.htm NPORT-EX

Oakhurst Fixed Income Fund
  
Schedule of Investments
  
as of November 30, 2023 (Unaudited)
  
   
COLLATERALIZED MORTGAGE OBLIGATIONS - 29.8%
  
Par
  
Value
  
ABN Amro Mortgage Corp., Series 2003-12, Class 1A, 5.00%, 12/25/2033
  
$
91,773
  
$
86,897
  
Banc of America Mortgage Securities, Inc.
  
Series 2003-J, Class 2A1, 5.16%, 11/25/2033  (a)
    
249,156
    
221,937
  
Series 2004-A, Class 3A1, 4.37%, 02/25/2034  (a)
    
14,446
    
14,313
  
Bear Stearns Alt-A Trust, Series 2003-6, Class 2A1, 5.39%, 01/25/2034  (a)
    
161,154
    
145,160
  
Countrywide Home Loan Mortgage Pass Through Trust, Series 2003-49, Class A9, 5.26%, 12/19/2033  (a)
    
33,121
    
30,358
  
Credit Suisse Management LLC, Series 2002-AR31, Class 4A2, 6.25%, 11/25/2032  (a)
    
37,082
    
35,888
  
Credit Suisse Mortgage Capital Certificates, Series 2013-IVR1, Class A2, 3.00%, 03/25/2043  (a)(b)
    
335,475
    
290,410
  
Fannie Mae Whole Loan, Series 2004-W3, Class A7, 5.50%, 05/25/2034
    
419,177
    
413,124
  
Federal Home Loan Mortgage Corp.
  
Series 2569, Class LD, 5.50%, 02/15/2033
    
29,487
    
29,368
  
Series 3622, Class WA, 5.50%, 09/15/2039
    
148,424
    
147,347
  
Series 3793, Class UA, 4.00%, 06/15/2033
    
31,102
    
29,572
  
Series 3827, Class HA, 3.50%, 11/15/2025
    
39,725
    
38,866
  
Series 3940, Class PD, 2.50%, 02/15/2041
    
99,847
    
94,056
  
Series 4077, Class AP, 4.00%, 01/15/2042
    
34,182
    
32,416
  
Series 4183, Class PA, 3.50%, 01/15/2043
    
32,202
    
31,249
  
Series 4566, Class CA, 3.00%, 01/15/2043
    
36,661
    
36,249
  
Series 4753, Class JA, 3.00%, 12/15/2047
    
1,015,182
    
888,617
  
Series 4760, Class A, 3.00%, 02/15/2048
    
661,664
    
610,380
  
Series 4960, Class PD, 2.00%, 10/25/2049
    
719,227
    
561,711
  
Series 5145, Class AB, 1.50%, 09/25/2049
    
1,244,330
    
914,090
  
Series 5206, Class DV, 3.50%, 06/25/2033
    
1,049,750
    
966,173
  
Series 5227, Class JQ, 4.00%, 04/25/2047
    
1,069,405
    
1,006,323
  
Series 5231, Class LV, 4.50%, 05/25/2052
    
1,102,848
    
1,050,537
  
Series 5245, Class CB, 4.00%, 12/25/2046
    
1,054,886
    
1,011,900
  
Series 5252, Class BA, 4.00%, 02/25/2050
    
1,127,147
    
1,076,248
  
Federal National Mortgage Association
  
Series 2005-80, Class BA, 5.00%, 04/25/2029
    
20,721
    
20,288
  
Series 2009-96, Class DB, 4.00%, 11/25/2029
    
67,058
    
65,101
  
Series 2013-13, Class MA, 4.00%, 01/25/2043
    
229,532
    
214,198
  
Series 2014-80, Class KA, 2.00%, 03/25/2044
    
258,048
    
184,616
  
Series 2016-24, Class HA, 3.00%, 04/25/2044
    
58,421
    
55,810
  
Series 2016-49, Class LA, 3.50%, 01/25/2043
    
124,906
    
120,176
  
Series 2016-89, Class CG, 3.00%, 04/25/2046
    
115,044
    
102,860
  
Series 2017-105, Class N, 3.00%, 01/25/2048
    
1,273,710
    
1,089,664
  
Series 2017-22, Class EC, 3.00%, 06/25/2044
    
127,091
    
121,785
  
Series 2018-45, Class AB, 3.00%, 06/25/2048
    
209,426
    
182,011
  
Series 2019-33, Class N, 3.00%, 03/25/2048
    
271,463
    
246,671
  
Series 2022-22, Class EV, 4.00%, 07/25/2033
    
752,473
    
708,184
  
Government National Mortgage Association
  
Series 2017-84, Class JD, 3.00%, 05/20/2047
    
36,633
    
31,701
  
Series 2018-6, Class JA, 2.75%, 01/20/2048
    
209,602
    
187,144
  
Series 2019-152, Class HA, 3.50%, 08/20/2049
    
149,476
    
139,977
  
Series 2019-61, Class KU, 3.50%, 05/20/2049
    
712,011
    
617,486
  
Series 2019-99, Class JC, 3.00%, 08/20/2049
    
72,678
    
63,622
  
Series 2020-122, Class DP, 2.50%, 07/20/2050
    
1,186,490
    
985,563
  
Series 2020-123, Class PB, 2.25%, 08/20/2050
    
580,288
    
459,986
  
Series 2020-133, Class A, 6.40%, 05/20/2050  (a)
    
243,652
    
245,418
  
Series 2020-133, Class HA, 3.50%, 09/20/2050
    
271,275
    
237,402
  
Series 2020-134, Class NP, 2.50%, 09/20/2050
    
912,503
    
744,223
  
Series 2020-183, Class AY, 2.00%, 11/20/2050
    
897,851
    
713,025
  
Series 2020-5, Class NA, 3.50%, 12/20/2049
    
223,415
    
199,550
  
Series 2020-78, Class CB, 5.00%, 09/20/2034
    
199,217
    
193,538
  
Series 2020-84, Class WA, 3.50%, 06/20/2050
    
163,025
    
143,456
  
Series 2020-95, Class NB, 4.50%, 07/20/2050
    
24,835
    
22,920
  
Series 2022-20, Class KA, 2.50%, 01/20/2052
    
1,096,667
    
945,562
  
Series 2022-24, Class BC, 4.00%, 02/20/2052
    
695,161
    
640,518
  
Series 2022-78, Class LA, 4.50%, 07/20/2050
    
953,356
    
921,828
  
GS Mortgage-Backed Securities Trust, Series 2021-PJ1, Class A4, 2.50%, 06/25/2051  (a)(b)
    
620,174
    
471,506
  
Harborview Mortgage Loan Trust
  
Series 2003-1, Class A, 5.28%, 05/19/2033  (a)
    
41,491
    
36,120
  
Series 2004-4, Class 2A, 6.01% (1 mo. Term SOFR + 0.67%), 06/19/2034  (a)
    
53,569
    
47,005
  
Impac CMB Trust, Series 2005-4, Class 2A1, 6.06% (1 mo. Term SOFR + 0.41%), 05/25/2035  (a)
    
280,950
    
257,830
  
Impac Funding Corp., Series 2003-3, Class A1, 5.20%, 08/25/2033  (a)
    
21,542
    
20,566
  
Impac Secured Assets CMN Owner Trust, Series 2006-1, Class 2A1, 6.16% (1 mo. Term SOFR + 0.81%), 05/25/2036  (a)
    
86,577
    
76,274
  
JP Morgan Mortgage Trust
  
Series 2003-A1, Class 1A1, 4.52%, 10/25/2033  (a)
    
62,246
    
56,331
  
Series 2004-A1, Class 4A1, 4.99%, 02/25/2034  (a)
    
51,656
    
49,603
  
Series 2004-A3, Class SF3, 5.08%, 06/25/2034  (a)
    
53,706
    
49,652
  
Series 2004-A4, Class 2A2, 5.24%, 09/25/2034  (a)
    
582,513
    
516,557
  
Series 2004-A5, Class 2A1, 5.53%, 12/25/2034  (a)
    
24,577
    
24,412
  
Series 2013-3, Class A3, 3.35%, 07/25/2043  (a)(b)
    
53,960
    
47,899
  
Series 2017-2, Class A3, 3.50%, 05/25/2047  (a)(b)
    
111,397
    
95,559
  
Series 2018-1, Class A7, 3.50%, 06/25/2048  (a)(b)
    
399,404
    
349,644
  
Mastr Adjustable Rate Mortgages Trust, Series 2003-3, Class 2A1, 5.82%, 09/25/2033  (a)
    
48,049
    
42,964
  
MASTR Asset Securitization Trust, Series 2004-1, Class 3A7, 5.25%, 01/25/2034
    
38,338
    
35,976
  
Merrill Lynch Mortgage Investors, Inc.
  
Series 2004-A3, Class 1A, 4.26%, 05/25/2034  (a)
    
112,077
    
98,217
  
Series 2005-A1, Class 1A, 5.83%, 12/25/2034  (a)
    
225,337
    
213,782
  
MortgageIT Trust, Series 2004-1, Class A2, 6.36% (1 mo. Term SOFR + 1.01%), 11/25/2034  (a)
    
719,349
    
672,945
  
Nationstar Mortgage Loan Trust, Series 2013-A, Class A, 3.75%, 12/25/2052  (a)(b)
    
33,923
    
31,099
  
New Residential Mortgage Loan Trust, Series 2017-3A, Class A1, 4.00%, 04/25/2057  (a)(b)
    
196,806
    
183,992
  
RCKT Mortgage Trust, Series 2022-1, Class A5, 2.50%, 01/25/2052  (a)(b)
    
1,371,654
    
1,156,516
  
Rithm Capital Corp., Series 2015-2A, Class A2, 3.75%, 08/25/2055  (a)(b)
    
177,399
    
163,033
  
Sequoia Mortgage Trust
  
Series 2003-8, Class A1, 6.09% (1 mo. Term SOFR + 0.75%), 01/20/2034  (a)
    
188,452
    
175,604
  
Series 2004-6, Class A2, 6.01% (1 mo. Term SOFR + 0.67%), 07/20/2034  (a)
    
81,159
    
71,060
  
Series 2013-5, Class A1, 2.50%, 05/25/2043  (a)(b)
    
162,790
    
134,448
  
Series 2013-6, Class A2, 3.00%, 05/25/2043  (a)
    
197,332
    
167,981
  
Series 2018-5, Class A7, 3.50%, 05/25/2048  (a)(b)
    
777,349
    
669,810
  
Series 2019-2, Class A1, 4.00%, 06/25/2049  (a)(b)
    
591,782
    
537,952
  
Series 2019-4, Class A1, 3.50%, 11/25/2049  (a)(b)
    
548,159
    
478,376
  
Series 2019-5, Class A1, 3.50%, 12/25/2049  (a)(b)
    
256,393
    
223,099
  
Series 2020-4, Class A2, 2.50%, 11/25/2050  (a)(b)
    
550,770
    
436,747
  
Structured Adjustable Rate Mortgage Loan Trust, Series 2004-1, Class 4A4, 6.45%, 02/25/2034  (a)
    
67,117
    
62,399
  
Structured Asset Mortgage Investments, Inc.
  
Series 2003-AR4, Class A1, 6.15% (1 mo. Term SOFR + 0.81%), 01/19/2034  (a)
    
26,578
    
24,817
  
Series 2004-AR4, Class 1A1, 6.15% (1 mo. Term SOFR + 0.81%), 12/19/2034  (a)
    
35,613
    
32,778
  
Series 2004-AR6, Class A1A, 6.15% (1 mo. Term SOFR + 0.81%), 02/19/2035  (a)
    
939,984
    
852,190
  
Structured Asset Securities Corp.
  
Series 2003-34A, Class 5A4, 6.66%, 11/25/2033  (a)
    
95,773
    
90,882
  
Series 2003-9A, Class 2A1, 6.60%, 03/25/2033  (a)
    
64,190
    
61,167
  
Terwin Mortgage Trust, Series 2004-1HE, Class M1, 6.58% (1 mo. Term SOFR + 1.24%), 02/25/2034  (a)(b)
    
301,936
    
278,477
  
WaMu Mortgage Pass Through Certificates
  
Series 2002-AR2, Class A, 4.26% (Enterprise 11th District COFI Replacement Index + 1.25%), 02/27/2034  (a)
    
87,543
    
81,212
  
Series 2003-AR7, Class A7, 5.58%, 08/25/2033  (a)
    
388,157
    
355,296
  
Series 2003-AR8, Class A, 5.60%, 08/25/2033  (a)
    
145,933
    
137,385
  
Series 2005-AR13, Class A1A3, 7.02% (1 mo. Term SOFR + 1.67%), 10/25/2045  (a)
    
133,389
    
125,045
  
Series 2005-AR2, Class 1A1A, 6.12% (1 mo. Term SOFR + 0.77%), 01/25/2045  (a)
    
902,671
    
840,446
  
Wells Fargo Alternative Loan Trust, Series 2002-1, Class 1A1, 6.25%, 08/25/2032
    
195,529
    
187,465
  
Wells Fargo Mortgage Backed Securities Trust, Series 2021-RR1, Class A3, 2.50%, 12/25/2050  (a)(b)
    
1,072,568
    
920,082
  
TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $35,706,807)
    
32,009,672
  
               
CORPORATE BONDS - 26.8%
  
Par
  
Value
  
Communications - 2.4%
  
BellSouth LLC, 6.88%, 10/15/2031
    
895,000
    
945,206
  
Discovery Communications LLC, 5.00%, 09/20/2037
    
1,025,000
    
875,195
  
Paramount Global, 7.88%, 07/30/2030
    
765,000
    
808,809
  
           
2,629,210
  
               
Consumer Discretionary - 1.5%
  
Fortune Brands Innovations, Inc., 5.88%, 06/01/2033
    
900,000
    
896,465
  
Genting New York LLC / GENNY Capital, Inc., 3.30%, 02/15/2026  (b)
    
825,000
    
746,605
  
           
1,643,070
  
               
Energy - 2.5%
  
Enbridge, Inc., 5.70%, 03/08/2033
    
904,000
    
904,360
  
Gray Oak Pipeline LLC, 3.45%, 10/15/2027  (b)
    
963,000
    
878,441
  
Phillips 66 Partners LP
  
3.55%, 10/01/2026
    
565,000
    
521,907
  
3.75%, 03/01/2028
    
496,000
    
422,729
  
           
2,727,437
  
               
Financials - 11.9%
  
AerCap Ireland Capital DAC / AerCap Global Aviation Trust, 3.30%, 01/30/2032
    
1,075,000
    
891,160
  
American Homes 4 Rent LP, 2.38%, 07/15/2031
    
1,128,000
    
885,669
  
Antares Holdings LP, 3.95%, 07/15/2026  (b)
    
820,000
    
751,605
  
Aviation Capital Group LLC, 6.38%, 07/15/2030  (b)
    
900,000
    
888,951
  
Bank of America Corp., 5.29% to 04/25/2033 then SOFR + 1.91%, 04/25/2034
    
905,000
    
869,610
  
Blackstone Private Credit Fund, 3.25%, 03/15/2027
    
975,000
    
866,133
  
Blue Owl Capital Corp., 2.63%, 01/15/2027
    
997,000
    
876,849
  
Crown Castle, Inc., 5.10%, 05/01/2033
    
919,000
    
878,997
  
Drawbridge Special Opportunities Fund LP / Drawbridge Special Opportunities Fin, 3.88%, 02/15/2026  (b)
    
937,000
    
846,594
  
Fairfax Financial Holdings Ltd., 5.63%, 08/16/2032
    
904,000
    
877,805
  
First American Financial Corp., 4.00%, 05/15/2030
    
1,017,000
    
883,458
  
First-Citizens Bank & Trust Co., 2.97% to 09/27/2024 then 3 mo. Term SOFR + 1.72%, 09/27/2025
    
460,000
    
446,238
  
FS KKR Capital Corp., 3.40%, 01/15/2026
    
933,000
    
867,882
  
Icahn Enterprises LP / Icahn Enterprises Finance Corp., 4.38%, 02/01/2029
    
750,000
    
615,527
  
Jackson Financial, Inc., 3.13%, 11/23/2031
    
1,100,000
    
875,671
  
New York Community Bancorp, Inc., 8.43% (3 mo. Term SOFR + 3.04%), 11/06/2028  (c)
    
520,000
    
495,403
  
           
12,817,552
  
               
Health Care - 1.5%
  
Bristol-Myers Squibb Co., 5.88%, 11/15/2036
    
485,000
    
500,624
  
CVS Pass-Through Trust, 6.94%, 01/10/2030
    
310,815
    
314,901
  
CVS Pass-Through Trust Series 2013, Series 2013, 4.70%, 01/10/2036  (b)
    
202,708
    
183,728
  
CVS Pass-Through Trust Series 2014, 4.16%, 08/11/2036  (b)
    
652,812
    
568,241
  
           
1,567,494
  
               
Industrials - 1.3%
  
GE Capital Funding LLC, 4.40%, 05/15/2030
    
580,000
    
535,304
  
MasTec, Inc., 4.50%, 08/15/2028  (b)
    
975,000
    
879,305
  
           
1,414,609
  
               
Technology - 3.3%
  
Hewlett Packard Enterprise Co., 6.20%, 10/15/2035
    
857,000
    
903,570
  
Leidos, Inc., 5.50%, 07/01/2033
    
950,000
    
881,524
  
NXP BV / NXP Funding LLC / NXP USA, Inc., 2.50%, 05/11/2031
    
1,067,000
    
866,399
  
TD SYNNEX Corp., 2.38%, 08/09/2028
    
1,019,000
    
858,427
  
           
3,509,920
  
               
Utilities - 2.3%
  
Elwood Energy LLC, 8.16%, 07/05/2026
    
325,442
    
286,389
  
National Rural Utilities Cooperative Finance Corp., 8.00%, 03/01/2032
    
755,000
    
873,541
  
NSG Holdings LLC / NSG Holdings, Inc., 7.75%, 12/15/2025  (b)
    
410,094
    
410,096
  
Potomac Electric Power Co., 7.90%, 12/15/2038
    
780,000
    
951,228
  
           
2,521,254
  
TOTAL CORPORATE BONDS (Cost $31,253,622)
    
28,830,546
  
               
U.S. TREASURY OBLIGATIONS - 26.2%
  
Par
  
Value
  
United States Treasury Note/Bond
  
5.25%, 02/15/2029
    
3,790,000
    
3,944,857
  
2.88%, 05/15/2032
    
3,500,000
    
3,131,543
  
2.75%, 08/15/2032
    
3,835,000
    
3,386,335
  
4.13%, 11/15/2032
    
3,790,000
    
3,719,974
  
3.50%, 02/15/2033
    
4,800,000
    
4,485,374
  
3.88%, 08/15/2033
    
2,917,000
    
2,805,334
  
3.00%, 05/15/2042
    
4,699,000
    
3,706,520
  
2.50%, 02/15/2045
    
4,323,000
    
3,032,939
  
TOTAL U.S. TREASURY OBLIGATIONS (Cost $31,303,132)
    
28,212,876
  
               
ASSET-BACKED SECURITIES - 7.8%
  
Par
  
Value
  
Air Canada, Series 2017-1, 3.55%, 01/15/2030  (b)
    
930,000
    
801,261
  
American Airlines Group, Inc., Series AA, 3.15%, 02/15/2032
    
1,035,361
    
878,208
  
Countrywide Asset-Backed Certificates, Series 2004-6, Class 2A3, 6.66% (1 mo. Term SOFR + 1.31%), 11/25/2034  (a)
    
148,892
    
142,153
  
DB Master Finance Parent LLC, Series 2021-1A, Class A2II, 2.49%, 11/20/2051  (b)
    
821,240
    
699,819
  
Flagship Credit Auto Trust, Series 2020-4, Class D, 2.18%, 02/16/2027  (b)
    
735,000
    
687,986
  
GLS Auto Receivables Trust, Series 2020-1A, Class C, 2.72%, 11/17/2025  (b)
    
301,646
    
300,161
  
Impac CMB Trust
  
Series 2007-A, Class A, 5.96% (1 mo. Term SOFR + 0.61%), 05/25/2037  (a)(b)
    
694,747
    
644,381
  
Series 2007-A, Class M1, 6.26% (1 mo. Term SOFR + 0.91%), 05/25/2037  (a)(b)
    
253,047
    
235,617
  
Jack in the Box, Inc., Series 2022-1A, Class A2I, 3.45%, 02/26/2052  (b)
    
858,850
    
775,653
  
Long Beach Mortgage Loan Trust, Series 2004-4, Class 1A1, 6.02% (1 mo. Term SOFR + 0.67%), 10/25/2034  (a)
    
726,683
    
683,473
  
SBA Depositor LLC
  
Series 2020-1-2, 1.88%, 01/15/2026  (b)
    
1,050,000
    
961,087
  
Series 2020-1-2, 2.33%, 01/15/2028  (b)
    
10,000
    
8,644
  
United Airlines 2020-1 Class A Pass Through Trust, Series 2020-1, 5.88%, 10/15/2027
    
844,313
    
841,716
  
Verizon Master Trust, Series 2023-6, Class A, 5.35%, 09/22/2031  (b)
    
750,000
    
761,513
  
TOTAL ASSET-BACKED SECURITIES (Cost $8,841,768)
    
8,421,672
  
               
MORTGAGE-BACKED SECURITIES - 4.2%
  
Par
  
Value
  
Federal Home Loan Mortgage Corp.
  
Pool C91859, 3.50%, 12/01/2035
    
211,493
    
199,893
  
Pool SB8257, 5.50%, 09/01/2038
    
1,079,579
    
1,081,833
  
Pool SD3386, 5.50%, 07/01/2053
    
1,471,250
    
1,450,770
  
Federal National Mortgage Association
  
Pool FM5329, 2.00%, 01/01/2031
    
498,914
    
456,591
  
Pool FS0862, 2.50%, 12/01/2036
    
907,001
    
835,403
  
Pool FS5649, 5.50%, 08/01/2053
    
395,568
    
390,011
  
Pool MA0584, 4.50%, 10/01/2040
    
9,113
    
8,466
  
Pool MA1201, 3.50%, 10/01/2032
    
87,440
    
82,936
  
TOTAL MORTGAGE-BACKED SECURITIES (Cost $4,615,405)
    
4,505,903
  
               
U.S. GOVERNMENT AGENCY ISSUES - 3.1%
  
Par
  
Value
  
United States of America
  
1.15%, 08/12/2030
    
2,000,000
    
1,587,424
  
4.65%, 06/15/2035
    
1,100,000
    
1,062,173
  
2.40%, 03/24/2036
    
900,000
    
667,754
  
TOTAL U.S. GOVERNMENT AGENCY ISSUES (Cost $3,881,448)
    
3,317,351
  
               
CONVERTIBLE BONDS - 0.8%
  
Par
  
Value
  
Financials - 0.8%
  
PennyMac Corp., 5.50%, 11/01/2024
    
900,000
    
878,625
  
TOTAL CONVERTIBLE BONDS (Cost $907,402)
    
878,625
  
               
SHORT-TERM INVESTMENTS - 1.4%
              
Money Market Funds - 1.4%
  
Shares
        
Invesco Treasury Portfolio - Class Institutional, 5.28%(d)
    
1,456,344
    
1,456,344
  
TOTAL SHORT-TERM INVESTMENTS (Cost $1,456,344)
    
1,456,344
  
               
TOTAL INVESTMENTS - 100.1% (Cost $117,965,928)
  
$
107,632,989
  
Liabilities in Excess of Other Assets - (0.1)%
    
(63,979
)
TOTAL NET ASSETS - 100.0%
        
$
107,569,010
  

Percentages are stated as a percent of net assets.
  

SOFR - Secured Overnight Financing Rate

(a)
Coupon rate is variable based on the weighted average coupon of the underlying collateral. To the extent the weighted average coupon of the underlying assets which comprise the collateral increases or decreases, the coupon rate of this security will increase or decrease correspondingly. The rate disclosed is as of November 30, 2023.
(b)
Security is exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may only be resold in transactions exempt from registration to qualified institutional investors. As of November 30, 2023, the value of these securities total $18,498,337 or 17.2% of the Fund’s net assets.
(c)
Coupon rate is variable or floats based on components including but not limited to reference rate and spread. These securities may not indicate a reference rate and/or spread in their description. The rate disclosed is as of November 30, 2023.
(d)
The rate shown represents the 7-day effective yield as of November 30, 2023.


Oakhurst Fixed Income Fund
  
   
Level 1
    
Level 2
    
Level 3
    
Total
  
Investments:
                        
  Collateralized Mortgage Obligations
  
$
–
    
$
32,009,672
    
$
–
    
$
32,009,672
  
  Corporate Bonds
    
–
      
28,830,546
      
–
      
28,830,546
  
  U.S. Treasury Obligations
    
–
      
28,212,876
      
–
      
28,212,876
  
  Asset-Backed Securities
    
–
      
8,421,672
      
–
      
8,421,672
  
  Mortgage-Backed Securities
    
–
      
4,505,903
      
–
      
4,505,903
  
  U.S. Government Agency Issues
    
–
      
3,317,351
      
–
      
3,317,351
  
  Convertible Bonds
    
–
      
878,625
      
–
      
878,625
  
  Money Market Funds
    
1,456,344
      
–
      
–
      
1,456,344
  
Total Investments
  
$
1,456,344
    
$
106,176,645
    
$
–
    
$
107,632,989
  
                                 
   
Refer to the Schedule of Investments for industry classifications.