Schedule of Investments

June 30, 2025 (unaudited)

Forester Value Fund

Shares or Principal

Security Description

Amount ($)

Fair Value ($)(1)

Common Stocks - 58.67%

Communication Services - 2.15%

Verizon Communications, Inc.

2,230

96,492

Consumer Discretionary - 2.60%

Comcast Corp.

700

24,983

eBay, Inc.

1,230

91,586

116,569

Consumer Staples - 10.72%

Altria Group, Inc.

1,630

95,567

General Mills, Inc.

1,360

70,462

Molson Coors Beverage Co.

1,230

59,151

The Kraft Heinz Co.

2,320

59,902

The JM Smucker Co.

750

73,650

The Kroger Co.

1,700

121,941

480,673

Energy - 4.79%

BP plc

900

26,937

Chevron Corp. (2)

250

35,798

Diamondback Energy, Inc.

200

27,480

Energy Transfer LP

2,000

36,260

Exxon Mobil Corp.

820

88,396

214,871

Financials - 7.52%

Allstate Corp.

350

70,459

Aon plc (United Kingdom)

100

35,676

Chubb Ltd. (Switzerland)

230

66,636

The Travelers Cos., Inc.

270

72,236

US Bancorp, Inc.

2,040

92,310

337,316

Health Care - 11.55%

Amgen, Inc.  

270

75,387

Cardinal Health, Inc.

820

137,760

Cigna Corp. (2)

160

52,893

CVS Health Corp.

1,100

75,878

Johnson & Johnson

540

82,485

Teva Pharmaceutical Industries Ltd. ADR (2)

4,090

68,548

UnitedHealth Group, Inc.

80

24,958

517,909

Industrials - 2.54%

The 3M Co.

500

76,120

Quanta Services, Inc.

100

37,808

113,928

Information Technology - 4.49%

International Business Machines Corp.

200

58,956

HP, Inc.

1,000

24,460

Oracle Corp.

540

118,060

201,476

Materials - 6.12%

Agnico Eagle Mines, Ltd. (Canada)

1,130

134,391

Alamos Gold, Inc.

5,270

139,971

274,362

Utilities - 6.17%

Dominion Energy, Inc.  

1,770

100,040

Exelon Corp.

2,180

94,656

First Energy Corp.

2,040

82,130

276,826

Total Common Stock

(Cost $            1,727,863)

2,630,421

U.S. Government Obligations - 28.51%

U.S. Government Treasury Bill, 0.00%, 12/26/2025

800,000

783,728

U.S. Government Treasury Bill, 0.00%, 10/09/2025

500,000

494,209

Total U.S. Government Obligations

(Cost $             1,273,933)

1,277,937

Money Market Registered Investment Companies - 13.59%

Morgan Stanley Institutional Liquidity Fund Treasury Portfolio, Institutional Class - 4.14% (4)

609,201

609,201

Total Money Market Registered Investment Companies

(Cost $                609,201)

609,201

Total Investments - 101.19%

(Cost $             3,664,075)

4,536,559

Liabilities Less Other Assets - (1.19%)

(53,474)

Total Net Assets - 100.00%

4,483,085

Options - 0.42%

Long (Short)

Notional Value of

Fair

Contracts (5)

Expiration Date

Contracts ($) (6)

Value ($)

Put Options

S&P 500 Index, August 15, 2025, Put @ 5,600.00 (6)

10

8/15/2025

5,600,000

19,000

Total Options

10

(Cost $                53,079)

19,000

(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 June 30, 2025 in valuing the Fund's assets carried at fair value:

Investments in

Other Financial

Valuation Inputs

Securities

Instruments (9)

Level 1 - Quoted Prices

$

4,536,559

$

Level 2 - Other Significant Observable Inputs

-

-

Level 3 - Significant Unobservable Inputs

-

-

Total

$

4,536,559

$

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.

(4)  Variable rate security; the coupon rate shown represents the yield at  June 30, 2025.

(6)  The notional amount is calculated by multiplying outstanding contracts by the exercise price at June 30, 2025.