Gator
Capital
Long/Short
Fund
Schedule
of
Investments
January
31,
2026
(Unaudited)
COMMON
STOCKS
—
LONG
—
91.62%
Shares
Fair
Value
Banks
—
31.01%
Alerus
Financial
Corp.
15,100
$
371,762
Axos
Financial,
Inc.
(a)
27,000
2,672,730
Bridgewater
Bancshares,
Inc.
(a)
13,107
251,785
Business
First
Bancshares,
Inc.
10,408
293,193
Capital
Bancorp,
Inc.
19,915
611,789
Chain
Bridge
Bancorp,
Inc.
(a)
24,900
877,476
Commercial
Bancgroup,
Inc.
(a)
29,200
769,128
ConnectOne
Bancorp,
Inc.
66,360
1,766,503
Customers
Bancorp,
Inc.
(a)
33,000
2,607,660
Dime
Community
Bancshares,
Inc.
22,000
748,440
First
Business
Financial
Services,
Inc.
7,500
429,900
First
Citizens
BancShares,
Inc.,
Class
A
350
724,350
First
Financial
Bancorp
(a)
53,000
1,523,220
First
Internet
Bancorp
15,200
331,208
Homestreet,
Inc.
(a)
59,000
884,410
Meta
Financial
Group,
Inc.
8,369
755,637
OFG
Bancorp
48,283
1,945,805
Old
Second
Bancorp,
Inc.
43,900
870,976
OP
Bancorp
30,958
432,793
TFS
Financial
Corp.
100,000
1,407,500
UMB
Financial
Corp.
20,000
2,542,800
Unity
Bancorp,
Inc.
5,051
272,552
WesBanco,
Inc.
23,000
811,670
Western
Alliance
Bancorp
24,400
2,175,260
26,078,547
Commercial
Finance
—
0.92%
PROG
Holdings,
Inc.
23,800
772,072
Computer
Hardware
&
Storage
—
1.01%
Dell
Technologies,
Inc.,
Class
C
4,000
457,760
Hewlett
Packard
Enterprise
Co.
18,000
387,360
845,120
Consumer
Finance
—
4.10%
Navient
Corp.
70,000
686,700
SLM
Corp.
68,000
1,846,200
Synchrony
Financial
12,600
915,138
3,448,038
Data
&
Transaction
Processors
—
8.76%
Block,
Inc.
(a)
13,200
797,676
Fiserv,
Inc.
(a)
34,000
2,166,820
Global
Payments,
Inc.
31,400
2,252,636
Visa,
Inc.,
Class
A
1,900
611,477
WEX,
Inc.
(a)
10,000
1,539,000
7,367,609
Diversified
Banks
—
8.35%
Barclays
PLC
-
ADR
63,000
1,685,250
BNP
Paribas
S.A.
-
ADR
(a)
45,500
2,441,985
Gator
Capital
Long/Short
Fund
Schedule
of
Investments
(continued)
January
31,
2026
(Unaudited)
COMMON
STOCKS
—
LONG
—
91.62%
-
continued
Shares
Fair
Value
Diversified
Banks
—
8.35%
-
continued
Societe
Generale
S.A.
-
ADR
165,000
$
2,892,450
7,019,685
Institutional
Brokerage
—
3.63%
Interactive
Brokers
Group,
Inc.,
Class
A
40,800
3,055,104
Insurance
Brokers
&
Services
—
0.86%
Kingstone
Companies,
Inc.
47,000
726,150
Internet
Media
&
Services
—
1.70%
Meta
Platforms,
Inc.,
Class
A
2,000
1,433,000
Investment
Companies
—
0.14%
BBX
Capital,
Inc.
(a)
32,321
113,447
Investment
Management
—
0.09%
WisdomTree
Investments,
Inc.
4,816
78,019
Life
Insurance
—
7.88%
Genworth
Financial,
Inc.,
Class
A
(a)
160,000
1,334,400
Jackson
Financial,
Inc.
17,000
2,021,640
Primerica,
Inc.
6,300
1,657,152
Voya
Financial,
Inc.
21,000
1,609,860
6,623,052
P&
C
Insurance
—
0.63%
Hippo
Holdings,
Inc.
(a)
17,700
527,460
Private
Equity
—
2.74%
The
Carlyle
Group,
Inc.
20,000
1,175,600
Victory
Capital
Holdings,
Inc.,
Class
A
16,000
1,128,480
2,304,080
Real
Estate
Services
—
4.44%
Compass,
Inc.,
Class
A
(a)
298,047
3,731,548
Reinsurance
—
1.57%
Fairfax
Financial
Holdings
Ltd.
800
1,319,440
Specialty
&
Generic
Pharmaceuticals
—
0.40%
Viatris,
Inc.
26,000
340,340
Thrifts
&
Mortgage
Finance
—
0.93%
Columbia
Financial,
Inc.
(a)
48,015
781,204
Wealth
Management
—
12.46%
Ameriprise
Financial,
Inc.
5,000
2,635,950
Raymond
James
Financial,
Inc.
8,400
1,393,224
Robinhood
Markets,
Inc.,
Class
A
(a)
14,700
1,462,356
Stifel
Financial
Corp.
12,000
1,479,600
UBS
Group
A.G.
46,000
2,168,900
Virtus
Investment
Partners,
Inc.
8,200
1,338,650
10,478,680
Total
Common
Stocks
—
Long—
(Cost $52,329,430)
77,042,595
Gator
Capital
Long/Short
Fund
Schedule
of
Investments
(continued)
January
31,
2026
(Unaudited)
PREFERRED
STOCKS
—
LONG
—
2.92%
Shares
Fair
Value
Specialty
Finance
—
2.92%
AG
Mortgage
Investment
Trust,
Inc.,
Series
C,
8.00%
33,208
$
843,819
Chimera
Investment
Corp.,
Series
B,
8.00%
14,391
339,340
Chimera
Investment
Corp.,
Series
D,
8.00%
19,717
458,814
Federal
National
Mortgage
Association,
Series
O,
7.00%
5,243
114,507
Federal
National
Mortgage
Association,
Series
R,
7.63%
30,185
334,752
SLM
Corp.,
Series
B,
1.70%
4,834
358,441
Total
Preferred
Stocks
—
Long—
(Cost $1,725,959)
2,449,673
MONEY
MARKET
FUNDS
-
5.08%
First
American
Government
Obligations
Fund
-
Class
X,
3.61%
(b)
4,271,434
4,271,434
Total
Money
Market
Funds
(Cost
$4,271,434)
4,271,434
Total
Investments
—
99.62%
(Cost
$58,326,823)
83,763,702
Other
Assets
in
Excess
of
Liabilities — 0.38%
323,029
NET
ASSETS
—
100.00%
$
84,086,731
(a)
Non-income
producing
security.
(b)
Rate
disclosed
is
the
seven
day
effective
yield
as
of
January
31,
2026.
ADR
-
American
Depositary
Receipt
Gator
Capital
Long/Short
Fund
Schedule
of
Securities
Sold
Short
January
31,
2026
(Unaudited)
COMMON
STOCKS
—
SHORT
—
(21.76)%
Shares
Fair
Value
Banks
—
(11.35)%
Bank
of
Hawaii
Corp.
(10,000)
$
(747,800)
BankUnited,
Inc.
(7,500)
(356,025)
Cadence
Bank
(7,700)
(324,247)
Citigroup,
Inc.
(14,000)
(1,619,940)
First
Financial
Bankshares
,
Inc.
(17,250)
(548,895)
First
Horizon
National
Corp.
(13,900)
(340,411)
Merchants
Bancorp
(20,000)
(829,200)
Midland
States
Bankcorp
,
Inc.
(26,841)
(613,317)
New
York
Community
Bancorp,
Inc.
(26,700)
(352,974)
Northwest
Bancshares,
Inc.
(9,142)
(117,749)
Renasant
Corp.
(17,800)
(671,238)
Stock
Yards
Bancorp,
Inc.
(6,519)
(441,271)
Texas
Capital
Bancshares,
Inc.
(a)
(3,600)
(364,212)
Toronto-Dominion
Bank
(The)
(15,000)
(1,402,350)
Wells
Fargo
&
Co.
(9,000)
(814,410)
(9,544,039)
Commercial
Vehicles
—
0.00%
Nikola
Corp.
(a)
(333)
(2)
Diversified
Banks
—
(2.36)%
Bank
of
America
Corp.
(16,000)
(851,200)
U.S.
Bancorp
(20,300)
(1,139,033)
(1,990,233)
Industrial
Wholesale
&
Rental
—
(0.60)%
SiteOne
Landscape
Supply,
Inc.
(a)
(3,500)
(502,390)
Insurance
Brokers
—
(0.66)%
Arthur
J.
Gallagher
&
Co.
(2,220)
(553,601)
Investment
Companies
—
(0.06)%
TriplePoint
Venture
Growth
BDC
Corp.
(8,500)
(50,660)
Investment
Management
—
(0.44)%
T.
Rowe
Price
Group,
Inc.
(3,500)
(369,880)
Mass
Merchants
—
(0.43)%
Walmart,
Inc.
(3,000)
(357,420)
Mortgage
Finance
—
(1.86)%
AGNC
Investment
Corp.
(76,800)
(875,520)
Essent
Group
Ltd.
(9,000)
(566,280)
Federal
National
Mortgage
Association
(a)
(15,600)
(127,748)
(1,569,548)
Non-Alcoholic
Beverages
—
(0.01)%
Oatly
Group
AB
-
ADR
(a)
(782)
(9,001)
P&C
Insurance
—
(2.25)%
American
International
Group,
Inc.
(12,000)
(898,560)
NMI
Holdings,
Inc.,
Class
A
(a)
(19,291)
(746,948)
ProAssurance
Corp.
(10,235)
(247,892)
(1,893,400)
Gator
Capital
Long/Short
Fund
Schedule
of
Securities
Sold
Short
(continued)
January
31,
2026
(Unaudited)
COMMON
STOCKS
—
SHORT
—
(21.76)%
-
continued
Shares
Fair
Value
Packaged
Food
—
(
0.00
)
%
Beyond
Meat,
Inc.
(a)
(1,600)
$
(1,221)
Regional
Banks
—
(1.74)%
KeyCorp
(32,000)
(688,640)
Truist
Financial
Corp.
(15,000)
(771,300)
(1,459,940)
Total
Common
Stocks
-
Short
(Proceeds
Received $16,520,363)
(18,301,335)
EXCHANGE-TRADED
FUNDS
—
SHORT
—
(8.03)%
Direxion
Daily
Financial
Bear
3X
Shares
(1,170)
(48,333)
Global
X
Nasdaq
100
Covered
Call
ETF
(188,900)
(3,360,531)
Global
X
S&P
500
Covered
Call
ETF
(82,000)
(3,340,680)
Total
Exchange-Traded
Funds
-
Short
(Proceeds
Received
$6,779,821)
(6,749,544)
TOTAL
SECURITIES
SOLD
SHORT
—
(29.79)%
(Proceeds
Received
$23,300,184)
(25,050,879)
(a)
Non-income
producing
security.
ADR
-
American
Depositary
Receipt
ETF
-
Exchange-Traded
Fund