FBP EQUITY & DIVIDEND PLUS FUND | ||
SCHEDULE OF INVESTMENTS | ||
June 30, 2021 (Unaudited) | ||
COMMON STOCKS - 97.7% | Shares | Value |
Communications - 6.7% | ||
AT&T, Inc. | 24,000 | $ 690,720 |
Verizon Communications, Inc. | 7,500 | 420,225 |
ViacomCBS, Inc. - Class B (a) | 19,500 | 881,400 |
1,992,345 | ||
Consumer Discretionary - 5.4% | ||
Genuine Parts Company | 5,500 | 695,585 |
Kohl's Corporation (a) | 4,500 | 247,995 |
Tapestry, Inc. (b) | 15,000 | 652,200 |
1,595,780 | ||
Consumer Staples - 10.6% | ||
Archer-Daniels-Midland Company (a) | 6,000 | 363,600 |
J.M. Smucker Company (The) | 2,700 | 349,839 |
Kellogg Company | 10,500 | 675,465 |
Kimberly-Clark Corporation | 3,500 | 468,230 |
Mondelez International, Inc. - Class A | 5,000 | 312,200 |
Philip Morris International, Inc. | 5,300 | 525,283 |
Tyson Foods, Inc. - Class A | 6,100 | 449,936 |
3,144,553 | ||
Energy - 6.5% | ||
Chevron Corporation | 4,800 | 502,752 |
ConocoPhillips (a) | 8,500 | 517,650 |
Exxon Mobil Corporation | 8,000 | 504,640 |
Royal Dutch Shell plc - Class B - ADR | 10,000 | 388,300 |
1,913,342 | ||
Financials - 22.8% | ||
Bank of New York Mellon Corporation (The) | 6,000 | 307,380 |
First Horizon Corporation | 24,500 | 423,360 |
JPMorgan Chase & Company | 5,500 | 855,470 |
KeyCorp (a) | 30,200 | 623,630 |
Lincoln National Corporation | 9,500 | 596,980 |
MetLife, Inc. | 10,200 | 610,470 |
People's United Financial, Inc. (a) | 25,000 | 428,500 |
Prudential Financial, Inc. | 6,000 | 614,820 |
Truist Financial Corporation | 15,500 | 860,250 |
U.S. Bancorp (a) | 14,200 | 808,974 |
Wells Fargo & Company | 13,500 | 611,415 |
6,741,249 |
FBP EQUITY & DIVIDEND PLUS FUND | ||
SCHEDULE OF INVESTMENTS (Continued) | ||
COMMON STOCKS - 97.7% (Continued) | Shares | Value |
Health Care - 13.1% | ||
Bristol-Myers Squibb Company | 7,800 | $ 521,196 |
CVS Health Corporation | 9,000 | 750,960 |
Johnson & Johnson | 4,100 | 675,434 |
Medtronic plc | 2,000 | 248,260 |
Merck & Company, Inc. | 9,400 | 731,038 |
Organon & Company (b) | 9,500 | 287,470 |
Pfizer, Inc. | 17,000 | 665,720 |
3,880,078 | ||
Industrials - 4.8% | ||
Emerson Electric Company | 3,500 | 336,840 |
Lockheed Martin Corporation | 800 | 302,680 |
Raytheon Technologies Corporation | 9,200 | 784,852 |
1,424,372 | ||
Materials - 6.0% | ||
Compass Minerals International, Inc. (a) | 4,000 | 237,040 |
Dow, Inc. (a) | 7,100 | 449,288 |
Nucor Corporation (a) | 11,500 | 1,103,195 |
1,789,523 | ||
Real Estate - 3.0% | ||
Simon Property Group, Inc. (a) | 3,800 | 495,824 |
Ventas, Inc. | 6,900 | 393,990 |
889,814 | ||
Technology - 14.7% | ||
Amdocs Ltd. | 4,000 | 309,440 |
Broadcom, Inc. (a) | 2,800 | 1,335,152 |
Cisco Systems, Inc. | 15,000 | 795,000 |
HP, Inc. | 20,500 | 618,895 |
Intel Corporation | 9,000 | 505,260 |
International Business Machines Corporation | 5,500 | 806,245 |
4,369,992 | ||
Utilities - 4.1% | ||
Duke Energy Corporation (a) | 7,000 | 691,040 |
National Fuel Gas Company | 5,500 | 287,375 |
PPL Corporation | 8,500 | 237,745 |
1,216,160 | ||
Total Common Stocks (Cost $20,860,763) | $ 28,957,208 | |
FBP EQUITY & DIVIDEND PLUS FUND | ||
SCHEDULE OF INVESTMENTS (Continued) | ||
MONEY MARKET FUNDS - 2.9% | Shares | Value |
Fidelity Institutional Money Market Government Portfolio - Class I, 0.01% (c) (Cost $859,113) | 859,113 | $ 859,113 |
Total Investments at Value - 100.6% (Cost $21,719,876) | $ 29,816,321 | |
Liabilities in Excess of Other Assets - (0.6%) | (191,591 ) | |
Net Assets - 100.0% | $ 29,624,730 | |
ADR | - American Depositary Receipt. |
(a) | Security covers a written call option. |
(b) | Non-income producing security. |
(c) | The rate shown is the 7-day effective yield as of June 30, 2021. |
FBP EQUITY & DIVIDEND PLUS FUND | |||||
SCHEDULE OF OPEN OPTION CONTRACTS | |||||
June 30, 2021 (Unaudited) | |||||
COVERED WRITTEN CALL OPTIONS | Contracts | Notional Value | Strike Price | Expiration Date | Value of Options |
Archer-Daniels-Midland Company | 60 | $ 363,600 | $ 65 .00 | 09/17/21 | $ 5,400 |
Broadcom, Inc. | 14 | 667,576 | 470 .00 | 10/15/21 | 39,060 |
Compass Minerals International, Inc. | 40 | 237,040 | 75 .00 | 09/17/21 | 1,000 |
ConocoPhillips | 55 | 334,950 | 70 .00 | 08/20/21 | 3,410 |
Dow, Inc. | 35 | 221,480 | 72 .50 | 09/17/21 | 1,925 |
Duke Energy Corporation | 40 | 394,880 | 100 .00 | 10/15/21 | 11,200 |
KeyCorp | 165 | 340,725 | 22 .00 | 09/17/21 | 8,580 |
Kohl's Corporation | 45 | 247,995 | 47 .50 | 07/16/21 | 35,325 |
Nucor Corporation | 40 | 383,720 | 100 .00 | 10/15/21 | 23,760 |
People's United Financial, Inc. | 250 | 428,500 | 20 .00 | 08/20/21 | 2,500 |
Simon Property Group, Inc. | 15 | 195,720 | 145 .00 | 01/21/22 | 8,400 |
U.S. Bancorp | 60 | 341,820 | 65 .00 | 12/17/21 | 6,480 |
ViacomCBS, Inc. - Class B | 85 | 384,200 | 55 .00 | 01/21/22 | 23,715 |
Total Covered Written Call Options (Premiums received $229,317) | $ 4,542,206 | $ 170,755 | |||
The average monthly notional value of written option contracts during the three months ended June 30, 2021 was $5,329,915. | |||||
FBP APPRECIATION & INCOME OPPORTUNITIES FUND | ||
SCHEDULE OF INVESTMENTS | ||
June 30, 2021 (Unaudited) | ||
COMMON STOCKS - 76.5% | Shares | Value |
Communications - 3.8% | ||
AT&T, Inc. | 19,000 | $ 546,820 |
Lumen Technologies, Inc. | 15,000 | 203,850 |
ViacomCBS, Inc. - Class B | 14,000 | 632,800 |
1,383,470 | ||
Consumer Discretionary - 4.9% | ||
Carnival Corporation (a) | 5,000 | 131,800 |
Ford Motor Company (a) | 26,000 | 386,360 |
Kohl's Corporation (b) | 5,000 | 275,550 |
Tapestry, Inc. (a) | 17,000 | 739,160 |
TJX Companies, Inc. (The) | 4,000 | 269,680 |
1,802,550 | ||
Consumer Staples - 5.3% | ||
Archer-Daniels-Midland Company | 4,500 | 272,700 |
Kellogg Company | 8,500 | 546,805 |
Philip Morris International, Inc. | 3,300 | 327,063 |
Target Corporation | 1,500 | 362,610 |
Walmart, Inc. | 3,100 | 437,162 |
1,946,340 | ||
Energy - 4.9% | ||
Chevron Corporation | 4,000 | 418,960 |
ConocoPhillips | 6,000 | 365,400 |
Devon Energy Corporation | 18,000 | 525,420 |
Royal Dutch Shell plc - Class B - ADR | 13,000 | 504,790 |
1,814,570 | ||
Financials - 19.9% | ||
Bank of America Corporation | 38,000 | 1,566,740 |
Bank of New York Mellon Corporation (The) | 6,000 | 307,380 |
Capital One Financial Corporation | 6,000 | 928,140 |
JPMorgan Chase & Company | 10,000 | 1,555,400 |
KeyCorp | 16,320 | 337,008 |
Lincoln National Corporation | 12,500 | 785,500 |
MetLife, Inc. | 12,000 | 718,200 |
Travelers Companies, Inc. (The) | 3,600 | 538,956 |
Wells Fargo & Company | 13,000 | 588,770 |
7,326,094 | ||
Health Care - 9.2% | ||
Bristol-Myers Squibb Company | 8,000 | 534,560 |
CVS Health Corporation | 7,500 | 625,800 |
FBP APPRECIATION & INCOME OPPORTUNITIES FUND | ||
SCHEDULE OF INVESTMENTS (Continued) | ||
COMMON STOCKS - 76.5% (Continued) | Shares | Value |
Health Care - 9.2% (Continued) | ||
Johnson & Johnson | 4,000 | $ 658,960 |
Merck & Company, Inc. | 8,000 | 622,160 |
Organon & Company (a) | 13,800 | 417,588 |
Pfizer, Inc. | 13,500 | 528,660 |
3,387,728 | ||
Industrials - 6.5% | ||
Eaton Corporation plc | 4,500 | 666,810 |
FedEx Corporation | 2,500 | 745,825 |
General Electric Company | 15,000 | 201,900 |
Raytheon Technologies Corporation | 4,000 | 341,240 |
Trane Technologies plc | 2,400 | 441,936 |
2,397,711 | ||
Materials - 4.8% | ||
Compass Minerals International, Inc. | 5,000 | 296,300 |
Freeport-McMoRan, Inc. | 8,000 | 296,880 |
Mosaic Company (The) | 11,000 | 351,010 |
Nucor Corporation | 8,500 | 815,405 |
1,759,595 | ||
Technology - 16.5% | ||
Apple, Inc. | 6,000 | 821,760 |
Broadcom, Inc. (b) | 2,400 | 1,144,416 |
Cisco Systems, Inc. | 17,000 | 901,000 |
HP, Inc. | 28,000 | 845,320 |
Intel Corporation | 8,500 | 477,190 |
International Business Machines Corporation | 5,200 | 762,268 |
Microsoft Corporation | 3,500 | 948,150 |
Western Union Company (The) | 7,000 | 160,790 |
6,060,894 | ||
Utilities - 0.7% | ||
PPL Corporation | 9,000 | 251,730 |
Total Common Stocks (Cost $13,861,961) | $ 28,130,682 | |
CORPORATE BONDS - 8.5% | Par Value | Value |
Energy - 1.4% | ||
Pioneer Natural Resources Company, 3.95%, due 07/15/2022 | $ 500,000 | $ 512,503 |
FBP APPRECIATION & INCOME OPPORTUNITIES FUND | ||
SCHEDULE OF INVESTMENTS (Continued) | ||
CORPORATE BONDS - 8.5%(Continued) | Par Value | Value |
Financials - 5.6% | ||
America Express Company, 3.40%, due 02/27/2023 | $ 500,000 | $ 523,425 |
Citigroup, Inc., 2.90%, due 12/08/2021 | 500,000 | 504,738 |
UNUM Group, 4.00%, due 03/15/2024 | 500,000 | 538,995 |
Wells Fargo & Company, 3.50%, due 03/08/2022 | 500,000 | 511,132 |
2,078,290 | ||
Industrials - 1.5% | ||
Norfolk Sothern Corporation, 3.85%, due 01/15/2024 | 500,000 | 536,248 |
Total Corporate Bonds (Cost $3,047,339) | $ 3,127,041 | |
U.S. TREASURY OBLIGATIONS - 1.4% | Par Value | Value |
U.S. Treasury Notes - 1.4% | ||
2.125%, due 05/15/2022 (Cost 505,547) | $ 500,000 | $ 508,867 |
MONEY MARKET FUNDS - 13.7% | Shares | Value |
Fidelity Institutional Money Market Government Portfolio - Class I, 0.01% (c) | 3,356,511 | $ 3,356,511 |
First American Government Obligations Fund - Class Z, 0.02% (c) | 1,699,910 | 1,699,910 |
Total Money Market Funds (Cost $5,056,421) | $ 5,056,421 | |
Total Investments at Value - 100.1% (Cost $22,471,268) | $ 36,823,011 | |
Liabilities in Excess of Other Assets - (0.1%) | (48,521) | |
Net Assets - 100.0% | $ 36,774,490 | |
ADR | - American Depositary Receipt. |
(a) | Non-income producing security. |
(b) | Security covers a written call option. |
(c) | The rate shown is the 7-day effective yield as of June 30, 2021. |
FBP APPRECIATION & INCOME OPPORTUNITIES FUND | |||||
SCHEDULE OF OPEN OPTION CONTRACTS | |||||
June 30, 2021 (Unaudited) | |||||
COVERED WRITTEN CALL OPTIONS | Contracts | Notional Value | Strike Price | Expiration Date | Value of Options |
Broadcom, Inc. | 10 | $ 476,840 | $ 470 .00 | 10/15/21 | $ 27,900 |
Kohl's Corporation | 25 | 137,775 | 47 .50 | 07/16/21 | 19,625 |
Total Covered Written Call Options (Premiums received $36,645) | $ 614,615 | $ 47,525 | |||
The average monthly notional value of written option contracts during the three months ended June 30, 2021 was $1,120,467. | |||||