HUNTER SMALL CAP VALUE FUND
SCHEDULE OF INVESTMENTS (Unaudited)
April 30, 2025
 
Shares             Fair Value
    COMMON STOCKS — 90.4%      
    AEROSPACE & DEFENSE - 0.6%      
6,135     Mercury Systems, Inc.(a)       $                        306,750  
             
 
    APPAREL & TEXTILE PRODUCTS - 1.3%      
38,460     Levi Strauss & Company, Class A       615,745  
             
 
    ASSET MANAGEMENT - 1.3%      
8,465     Cohen & Steers, Inc.       646,049  
             
 
    AUTOMOTIVE - 3.7%      
45,395     Gentex Corporation       988,702  
9,390     Lear Corporation       805,193  
              1,793,895  
    BANKING - 17.6%      
37,690     Columbia Banking System, Inc.       845,010  
46,170     First Community Corporation       1,084,995  
17,015     Hancock Whitney Corporation       886,311  
43,975     Old Second Bancorp, Inc.       694,365  
13,760     Pinnacle Financial Partners, Inc.       1,379,302  
23,620     Prosperity Bancshares, Inc.       1,603,797  
11,655     SouthState Corporation       1,011,421  
8,880     Wintrust Financial Corporation       987,190  
              8,492,391  
    CHEMICALS - 1.1%      
5,100     Quaker Chemical Corporation       540,294  
             
 
    COMMERCIAL SUPPORT SERVICES - 1.5%      
8,965     TriNet Group, Inc.       702,228  
             
 
    CONSTRUCTION MATERIALS - 1.5%      
4,620     Simpson Manufacturing Company, Inc.       710,048  
             
 
    CONTAINERS & PACKAGING - 3.6%      
68,790     Graphic Packaging Holding Company       1,741,075  
             
 
 
 

 

HUNTER SMALL CAP VALUE FUND
SCHEDULE OF INVESTMENTS (Unaudited) (Continued)
April 30, 2025
 
Shares         Fair Value
    COMMON STOCKS — 90.4% (Continued)      
    E-COMMERCE DISCRETIONARY - 1.1%      
12,610     Etsy, Inc.(a)       $                                548,283  
             
 
    ELECTRIC UTILITIES - 3.5%      
27,850     Black Hills Corporation       1,696,065  
             
 
    ELECTRICAL EQUIPMENT - 2.9%      
4,205     Generac Holdings, Inc.(a)       480,968  
4,975     Littelfuse, Inc.       906,992  
              1,387,960  
    FOOD - 2.5%      
18,160     John B Sanfilippo & Son, Inc.       1,203,463  
             
 
    HEALTH CARE FACILITIES & SERVICES - 2.0%      
7,745     Ensign Group, Inc. (The)       999,028  
             
 
    HOME CONSTRUCTION - 3.6%      
4,810     Armstrong World Industries, Inc.       697,546  
2,095     Cavco Industries, Inc.(a)       1,034,616  
              1,732,162  
    HOUSEHOLD PRODUCTS - 1.7%      
35,945     Reynolds Consumer Products, Inc.       826,735  
             
 
    INDUSTRIAL REIT - 0.4%      
4,005     First Industrial Realty Trust, Inc.       190,558  
             
 
    INDUSTRIAL SUPPORT SERVICES - 1.1%      
9,945     Core & Main, Inc., Class A(a)       523,903  
             
 
    INSTITUTIONAL FINANCIAL SERVICES - 2.1%      
26,305     Lazard, Inc.       1,023,265  
             
 
    INSURANCE - 7.0%      
17,120     Axis Capital Holdings LTD.       1,648,998  
10,465     Hanover Insurance Group, Inc. (The)       1,738,237  
              3,387,235  
               
 
 

 

HUNTER SMALL CAP VALUE FUND
SCHEDULE OF INVESTMENTS (Unaudited) (Continued)
April 30, 2025
 
Shares         Fair Value  
    COMMON STOCKS — 90.4% (Continued)        
    INTERNET MEDIA & SERVICES - 1.6%        
25,935     Match Group, Inc.       $                                769,232    
             
 
  
    MACHINERY - 4.4%        
3,725     Cactus, Inc., Class A       141,327    
8,290     Esab Corporation       995,795    
7,550     Middleby Corporation (The)(a)       1,006,792    
              2,143,914    
    MEDICAL EQUIPMENT & DEVICES - 1.3%        
8,420     Globus Medical, Inc., Class A(a)       604,303    
             
 
  
    MULTI ASSET CLASS REIT - 1.9%        
60,625     Elme Communities       943,932    
             
 
  
    OIL & GAS PRODUCERS - 3.5%        
45,750     Magnolia Oil & Gas Corporation, Class A       939,247    
18,605     Matador Resources Company       735,642    
              1,674,889    
    REAL ESTATE SERVICES - 2.8%        
2,135     Jones Lang LaSalle, Inc.(a)       485,520    
28,490     Marcus & Millichap, Inc.       866,096    
              1,351,616    
    RESIDENTIAL REIT - 4.0%        
21,875     Independence Realty Trust, Inc.       425,031    
84,045     UMH Properties, Inc.       1,485,075    
              1,910,106    
    RETAIL - DISCRETIONARY - 2.5%        
20,775     Academy Sports & Outdoors, Inc.       782,802    
6,365     BlueLinx Holdings, Inc.(a)       414,616    
              1,197,418    
    SEMICONDUCTORS - 3.7%        
7,835     Coherent Corporation(a)       503,947    
23,265     Tower Semiconductor LTD.(a)       832,422    
36,880     Vishay Intertechnology, Inc.       479,071    
              1,815,440    
                 
 
 

 

HUNTER SMALL CAP VALUE FUND
SCHEDULE OF INVESTMENTS (Unaudited) (Continued)
April 30, 2025
 
Shares       Fair Value
    COMMON STOCKS — 90.4% (Continued)    
    SOFTWARE - 1.3%    
5,190     Omnicell, Inc.(a)   $   162,239  
15,625     Ziff Davis, Inc.(a)   461,407  
        623,646  
    TECHNOLOGY SERVICES - 1.0%    
7,810     WNS Holdings LTD.(a)   472,661  
       
 
    TRANSPORTATION & LOGISTICS - 2.3%    
12,265     Grupo Aeroportuario del Centro Norte S.A.B. de C.V. - ADR   1,091,217  
       
 
         
    TOTAL COMMON STOCKS (Cost $41,379,330)   43,665,506  
         
    SHORT-TERM INVESTMENT — 8.9%    
    MONEY MARKET FUND - 8.9%    
4,297,339    

First American Treasury Obligations Fund, Class X, 4.23%(b)

(Cost $4,297,339)

   4,297,339  
       
 
    TOTAL INVESTMENTS - 99.3% (Cost $45,676,669)   $   47,962,845  
    OTHER ASSETS IN EXCESS OF LIABILITIES- 0.7%   317,069  
    NET ASSETS - 100.0%   $   48,279,914  
     
 
         

 

ADR -American Depositary Receipt

LTD -Limited Company

REIT -Real Estate Investment Trust

 

 

 

(a) Non-income producing security.
(b) Rate disclosed is the seven-day effective yield as of April 30, 2025.