Schedule of Investments

May 31, 2025 (unaudited)

Archer Multi Cap Fund

Shares or Principal

Security Description

Amount ($)

Fair Value ($)(1)

Common Stocks - 87.26%

Abrasive, Asbestos, & Miscellaneous Nonmetallic Mineral Products - 0.84%

Owens Corning

660

88,407

Adhesives & Sealants - 0.87%

CSW Industrials, Inc.

300

91,737

Chemicals & Allied Products - 1.11%

Balchem Corp. (2)

701

116,857

Computer Hardware - 1.24%

Pure Storage, Inc. Class A (2)

2,450

131,296

Crude Petroleum & Natural Gas - 1.46%

Expand Energy Corp

1,325

153,872

Electrical Work - 1.13%

Comfort Systems USA, Inc.

250

119,558

Electronic Computers - 0.88%

Apple, Inc.

461

92,592

Electric Services - 1.12%

EMCOR Group, Inc.

250

117,965

Fabricated Rubber Products - 1.47%

Carlisle Cos., Inc.

410

155,874

Finance Services - 2.65%

Mara Holdings, Inc. (2)

6,800

96,016

Mr. Cooper Group, Inc. (2)

1,425

184,580

280,596

Fire, Marine & Casualty Insurance - 1.59%

Berkshire Hathaway, Inc. Class B  (2)

334

168,323

General Industrial Machinery & Equipment, NEC - 1.03%

Zurn Elkay Water Solutions, Corp.

3,000

108,570

Hospital & Medical Service Plans- 0.94%

UnitedHealth Group, Inc.

328

99,026

Laboratory Analytical Instruments - 1.50%

Avantor, Inc. (2)

6,900

89,079

Illumina, Inc. (2)

850

69,904

158,983

Misc. Industrial & Commercial Machinery & Equipment - 1.01%

MOOG, Inc. Class A

575

106,553

Motor Vehicles & Passenger Car Bodies - 2.39%

Federal Signal Corp.

1,643

154,557

Tesla, Inc. (2)

284

98,395

252,952

National Commercial Banks - 2.66%

Bank of America Corp.

2,600

114,738

JPMorgan Chase & Co.

629

166,056

280,794

Operative Builders - 0.84%

Meritage Homes Corp.

1,400

89,054

Optical Instruments & Lenses - 0.86%

Coherent Corp. (2)

1,200

90,756

Paints, Varnishes, Lacquers, Enamels & Allied Products - 1.00%

RPM International, Inc.

925

105,302

Patent Owners & Lessors - 2.10%

Interdigital, Inc.

1,021

221,822

Petroleum Refining - 1.41%

Exxon Mobil Corp.

1,453

148,642

Pharmaceutical Preparations - 4.63%

AbbVie, Inc.

846

157,449

Eli Lilly and Co.

144

106,224

Johnson & Johnson

789

122,461

United Therapeutics Corp. (2)

325

103,626

489,760

Plastics Products, NEC - 1.18%

Armstrong World Industries

800

124,504

Printed Circuit Boards - 1.12%

Flex Ltd. (2)

2,800

118,440

Retail - Auto Dealers & Gasoline Stations - 2.64%

Caseys General Stores, Inc.

290

126,950

Group 1 Automotive, Inc.

360

152,611

279,562

Retail-Catalog & Mail-Order Houses - 1.02%

Amazon.com, Inc. (2)

524

107,425

Retail-Department Stores - 1.30%

Burlington Stores, Inc. (2)

603

137,647

Retail-Eating & Drinking Places - 2.44%

Shake Shack, Inc. Class A (2)

860

111,619

Brinker International, Inc. (2)

850

146,736

258,355

Retail-Home Furniture, Furnishings & Equipment Stores - 1.25%

Williams-Sonoma, Inc.

820

132,643

Retail-Lumber & Other Building Materials Dealers - 1.03%

The Home Depot, Inc.

295

108,646

Retail- Variety Stores - 2.68%

Costco Wholesale Corp.

125

130,023

Walmart, Inc.

1,550

153,016

283,039

Security Brokers, Dealers & Flotation Companies - 1.69%

Interactive Brokers Group

850

178,228

Semiconductors & Related Devices - 2.89%

Broadcom, Inc.

495

119,825

NVIDIA Corp.  

860

116,212

Semtech Corp. (2)

1,850

69,061

305,097

Services-Business Services - 5.22%

Etsy, Inc. (2)

2,150

119,003

MasterCard, Inc. Class A

215

125,904

RB Global, Inc.

1,660

174,798

Visa, Inc. Class A

362

132,199

551,903

Services-Computer Programming, Data Processing - 5.07%

Alphabet, Inc.

1,203

207,939

Alphabet, Inc. Class A

607

104,246

Meta Platforms, Inc. Class A     

346

224,032

536,216

Services-Engineering Services - 1.12%

AECOM

1,075

118,089

Services-Equipment Rental & Leasing, NEC - 1.66%

Air Lease Corp.

3,050

175,711

Services-Prepackaged Software - 6.70%

ACI Worldwide, Inc. (2)

2,900

134,154

Docusign, Inc. (2)

1,250

110,763

Dynatrace, Inc. (2)

2,075

112,071

Manhattan Associates, Inc. (2)

725

136,866

Microsoft Corp.

270

124,297

Salesforce, Inc.

340

90,226

708,376

Services-Streaming Services - 2.00%

Netflix, Inc. (2)

175

211,265

Soap, Detergent, Cleaning Preparations, Perfumes, Cosmetics - 1.13%

The Procter & Gamble Co.

700

118,923

Surgical & Medical Instruments & Apparatus - 2.49%

Inspire Medical Systems, Inc. (2)

600

82,920

Merit Medical Systems, Inc. (2)

1,900

180,557

263,477

Totalizing Fluid Meters & Counting Devices - 1.74%

Badger Meter, Inc.

740

183,683

Transportation Services - 0.92%

XPO Logistics, Inc. (2)

850

96,756

Water, Sewer, Pipeline, Comm & Power Line Construction - 1.41%

Dycom Industries, Inc. (2)

650

149,448

Wholesale-Groceries & Related Products - 1.27%

US Foods Holdings Corp. (2)

1,700

134,504

Wholesale-Hardware & Plumbing & Heating Equipment & Supplies - 1.41%

Watsco, Inc.

335

148,596

Wholesale-Metals Service Centers & Offices - 1.18%

Reliance Steel & Aluminum Co.

425

124,449

Total Common Stock

(Cost $          8,224,329)

9,224,270

Real Estate Investment Trust - 4.89%

CareTrust REIT, Inc.

5,700

163,932

Essential Properties Realty Trust, Inc.

3,650

118,625

Macerich Co.

5,700

92,226

Terreno Realty Corp.

2,525

142,461

Total Real Estate Investment Trusts

(Cost $              538,158)

517,244

Money Market Registered Investment Companies - 7.79%

Morgan Stanley Institutional Liquidity Treasury Portfolio - Institutional Class - 4.14% (3)

823,523

823,523

Total Money Market Registered Investment Companies

(Cost $              823,523)

823,523

Total Investments - 99.94%

(Cost $           9,586,011)

10,565,037

Other Assets Less Liabilities -  0.06%

5,832

Total Net Assets - 100.00%

10,570,869

(1)  Statement on Financial Accounting Standard No. 157 "Fair Value Measurements" - Various inputs are used in determining the value of the Fund's investments.

       These inputs are summarized in the three broad levels listed below.

        • Level 1 - quoted prices in active markets for identical securities

        • Level 2 - other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)

        • Level 3 - significant unobservable inputs (including the Fund's own assumptions in determining the fair value of investments)

       The following is a summary of the inputs used as of May 31, 2025 in valuing the Fund's assets carried at fair value:

Investments in

Other Financial

Valuation Inputs

Securities

Instruments

Level 1 - Quoted Prices

$

10,565,037

$

-

Level 2 - Other Significant Observable Inputs

-

-

Level 3 - Significant Unobservable Inputs

-

-

Total

$

10,565,037

$

-

       The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. For example, short-term

       debt instruments and repurchase agreements with a maturity of less than 60 days are valued using amortized cost, in accordance with rules under the Investment

       Company Act of 1940. Generally, amortized cost approximates the current fair value of a security, but since the value is not obtained from a quoted price in an active

       market, such securities are reflected as Level 2.

(2)  Represents non-income producing securities.

(3)  Variable rate security; the coupon rate shown represents the yield at May 31, 2025.