Yorktown
Short
Term
Bond
Fund
Schedule
of
Investments
April
30,
2026
-
(Unaudited)
Principal
Amount
Fair
Value
CORPORATE
BONDS
AND
NOTES
—
37.91%
Communications
—
1.68%
Alphabet,
Inc.,
4.38%,
11/15/2032
$
1,000,000
$
990,357
Meta
Platforms,
Inc.,
4.60%,
11/15/2032
1,000,000
988,476
Uber
Technologies
Inc,
4.50%,
8/15/2029
(a)
1,000,000
991,752
2,970,585
Consumer
Discretionary
—
5.68%
Amazon.com,
Inc.,
4.10%,
3/13/2028
1,500,000
1,502,059
Amazon.com,
Inc.,
4.55%,
3/13/2033
1,000,000
988,311
Amazon.com,
Inc.,
4.88%,
3/13/2036
500,000
492,859
Ford
Motor
Credit
Co.,
LLC,
5.13%,
11/5/2026
1,000,000
1,002,695
General
Motors
Financial
Co.,
Inc.,
1.50%,
6/10/2026
1,000,000
996,931
Hyundai
Capital
America,
4.55%,
9/26/2029
(a)
1,000,000
996,034
Lowe's
Cos,
Inc.,
4.00%,
10/15/2028
1,000,000
992,505
McDonald's
Corp.,
4.80%,
8/14/2028
1,000,000
1,010,245
McDonald's
Corp.,
MTN,
5.00%,
5/17/2029
2,000,000
2,039,032
10,020,671
Consumer
Staples
—
2.86%
Mars,
Inc.,
4.80%,
3/1/2030
(a)
2,000,000
2,020,640
Tyson
Foods,
Inc.,
5.40%,
3/15/2029
1,000,000
1,024,358
Walmart,
Inc.,
4.15%,
4/30/2031
2,000,000
1,992,144
5,037,142
Financials
—
10.33%
Air
Lease
Corp.,
1.88%,
8/15/2026
500,000
496,072
Antares
Holdings
LP,
3.95%,
7/15/2026
(a)
1,500,000
1,495,855
Charles
Schwab
Corp./
The,
4.00%,
12/31/2049
H15T5Y
+
316.80bps
(b)
1,000,000
998,998
Citigroup,
Inc.,
4.40%,
6/9/2027
(SOFR
+
77.0bps)
1,000,000
1,000,557
CNO
Global
Funding,
1.75%,
10/7/2026
(a)
500,000
494,613
Goldman
Sachs
Group,
Inc.
(The),
4.55%,
10/21/2027
(SOFR
+
92.0bps)
2,000,000
2,003,730
HSBC
Holdings
PLC,
5.08%,
11/19/2030
(SOFR
+
129bps)
2,000,000
2,020,089
Jackson
National
Life
Global
Funding,
4.60%,
10/1/2029
(a)
1,000,000
988,334
JPMorgan
Chase
&
Co.,
4.81%,
2/24/2028
(SOFR
+
118.0bps)
1,000,000
1,005,805
JPMorgan
Chase
Bank
NA,
5.11%,
12/8/2026
1,000,000
1,006,103
Morgan
Stanley
Bank
NA,
4.60%,
7/14/2028
O/N
SOFR
+
94BPS
1,500,000
1,504,750
Nomura
Holdings,
Inc.,
1.65%,
7/14/2026
1,000,000
995,034
Novartis
Capital
Corp.,
4.46%,
1/9/2030
1,000,000
994,552
Principal
Life
Global
Funding
II,
MTN,
1.50%,
11/17/2026
(a)
1,000,000
985,580
SMBC
Aviation
Capital
Finance
DAC,
1.90%,
10/15/2026
(a)
1,000,000
988,776
Societe
Generale
SA,
MTN,
1.79%,
6/9/2027
(H15T5Y
+
100.0bps)
(a)
1,000,000
997,083
Voya
Financial,
Inc.,
3.65%,
6/15/2026
250,000
249,739
18,225,670
Industrials
—
5.92%
Ashtead
Capital,
Inc.,
1.50%,
8/12/2026
(a)
1,000,000
991,400
BWX
Technologies
Inc,
4.13%,
6/30/2028
(a)
500,000
493,881
Caterpillar
Financial
Services
Corp.,
4.40%,
3/3/2028
3,000,000
3,014,150
Eaton
Corp.,
3.95%,
3/6/2029
2,000,000
1,980,259
GE
Vernova
,
Inc.,
4.25%,
2/4/2031
500,000
495,725
Honeywell
Aerospace,
Inc.,
4.30%,
3/16/2031
(a)
2,000,000
1,976,190
Yorktown
Short
Term
Bond
Fund
Schedule
of
Investments
(continued)
April
30,
2026
-
(Unaudited)
Principal
Amount
Fair
Value
Penske
Truck
Leasing
Co.
LP,
1.70%,
6/15/2026
(a)
$
1,000,000
$
996,849
Vertiv
Group
Corp.,
4.13%,
11/15/2028
(a)
500,000
494,317
10,442,771
Materials
—
1.68%
Berry
Global,
Inc.,
1.65%,
1/15/2027
2,000,000
1,962,163
Sherwin-Williams
Co.
(The),
4.55%,
3/2/2028
1,000,000
1,003,356
2,965,519
Technology
—
3.82%
Booz
Allen
Hamilton,
Inc.,
3.88%,
9/1/2028
(a)
1,000,000
978,813
DXC
Technology
Co.,
1.80%,
9/15/2026
286,000
283,120
Hewlett
Packard
Enterprise
Co.,
4.55%,
10/15/2029
1,500,000
1,494,917
International
Business
Machines
Corp.,
3.30%,
1/27/2027
500,000
497,286
International
Business
Machines
Corp.,
4.80%,
2/10/2030
1,000,000
1,008,861
Leidos,
Inc.,
4.38%,
5/15/2030
1,000,000
985,795
Oracle
Corp.,
4.80%,
8/3/2028
1,000,000
998,723
Wipro
IT
Services
LLC,
1.50%,
6/23/2026
(a)
500,000
497,801
6,745,316
Utilities
—
5.94%
Ameren
Corp.,
1.95%,
3/15/2027
500,000
490,246
Black
Hills
Corp.,
4.55%,
1/31/2031
1,000,000
990,554
Duke
Energy
Corp.,
4.30%,
3/15/2028
1,000,000
998,771
Enel
Finance
International
NV,
1.63%,
7/12/2026
(a)
1,000,000
994,711
Georgia
Power
Co.,
4.55%,
3/15/2030
1,000,000
1,003,355
Liberty
Utilities
Co.,
5.58%,
1/31/2029
(a)
1,000,000
1,020,549
National
Rural
Utilities
Cooperative
Finance
Corp.,
4.30%,
12/10/2030
1,500,000
1,486,509
NextEra
Energy
Capital
Holdings,
Inc.,
1.88%,
1/15/2027
1,000,000
983,861
NSTAR
Electric
Co.,
4.85%,
3/1/2030
2,000,000
2,026,082
Wisconsin
Electric
Power
Co.,
4.15%,
10/15/2030
500,000
493,355
10,487,993
Total
Corporate
Bonds
and
Notes
(Cost $66,917,449)
66,895,667
ASSET
BACKED
SECURITIES
—
7.07%
Air
Canada
Pass
Through
Trust,
Series
2020-2,
Class
A,
5.25%,
10/1/2030
(a)
136,751
137,988
American
Airlines
Pass
Through
Trust,
Series
2014-1,
Class
A,
3.70%,
10/1/2026
1,325,563
1,321,901
Amur
Equipment
Finance
Receivables
XIII
LLC,
Series
2024-1A,
Class
A2,
5.38%,
1/21/2031
(a)
186,739
188,640
BHG
Securitization
Trust,
Series
2024-1A,
Class
A,
5.81%,
4/17/2035
(a)
80,512
81,698
Carvana
Auto
Receivables
Trust,
Series
2022-P2,
Class
D,
6.28%,
5/10/2029
1,000,000
1,023,946
Dllad
LLC,
Series
2024-1A,
Class
A3,
5.30%,
7/20/2029
(TSFR3M
+
181.2bps)
(a),(b)
1,000,000
1,014,486
Exeter
Automobile
Receivables
Trust,
Series
2023-1A,
Class
D,
6.69%,
6/15/2029
764,682
773,175
GreatAmerica
Leasing
Receivables
Funding,
Series
2024-2,
Class
C,
5.28%,
5/17/2032
(a)
1,000,000
1,013,611
Yorktown
Short
Term
Bond
Fund
Schedule
of
Investments
(continued)
April
30,
2026
-
(Unaudited)
Principal
Amount
Fair
Value
Hilton
Grand
Vacations
Trust,
Series
2020-AA,
Class
C,
6.42%,
2/25/2039
(a)
$
225,726
$
227,189
HPEFS
Equipment
Trust,
Series
2024-2A,
Class
B,
5.35%,
10/20/2031
(a)
500,000
503,336
ITE
Rail
Fund
Levered
LP,
Series
2021-1A,
Class
A,
2.25%,
2/28/2051
(a)
391,898
373,836
Kubota
Credit
Owner
Trust,
Series
2024-1A,
Class
A4,
MTN,
5.20%,
1/15/2030
(a)
1,000,000
1,016,930
Octane
Receivables
Trust,
Series
2023-3A,
Class
A2,
6.44%,
3/20/2029
(a)
35,887
35,944
Octane
Receivables
Trust,
Series
2023-3A,
Class
B,
6.48%,
7/20/2029
(a)
1,008,000
1,015,129
Octane
Receivables
Trust,
Series
RVM1,
Class
A,
5.01%,
1/22/2046
(a)
522,106
529,110
Post
Road
Equipment
Finance
LLC,
Series
2024-1A,
Class
A2,
MTN,
5.59%,
11/15/2029
(a)
28,728
28,849
Post
Road
Equipment
Finance
LLC,
Series
2025-1A,
Class
D,
5.43%,
5/15/2031
(a)
500,000
503,052
SCF
Equipment
Leasing
LLC,
Series
2025-1A,
Class
C,
5.37%,
9/20/2034
(a)
500,000
505,592
SLM
Private
Credit
Student
Loan
Trust,
Series
2006-A,
Class
A5,
4.23%,
6/15/2039
(TSFR3M
+
55.2bps)
(b)
61,088
59,969
Trinity
Rail
Leasing
LLC,
Series
2019-2A,
Class
A2,
3.10%,
10/18/2049
(a)
685,000
678,955
United
Airlines
Pass
Through
Trust,
Series
2016-1,
Class
A,
3.45%,
7/7/2028
551,492
534,252
United
Airlines
Pass
Through
Trust,
Series
2020-1,
Class
A,
5.88%,
4/15/2029
311,154
316,896
Verdant
Receivables
LLC,
Series
2024-1A,
Class
A2,
5.68%,
12/12/2031
(a)
588,688
598,724
Total
Asset
Backed
Securities
(Cost $12,397,203)
12,483,208
U.S.
GOVERNMENT
&
AGENCIES
—
49.41%
Fannie
Mae,
Pool
#FM7007,
4.00%,
10/1/2033
477,036
473,788
Fannie
Mae,
Pool
#MA4023,
3.50%,
1/1/2035
706,448
688,199
Fannie
Mae,
Pool
#MA4038,
3.00%,
4/1/2035
183,243
174,945
Fannie
Mae,
Pool
#MA4797,
4.00%,
11/1/2037
546,052
533,237
Fannie
Mae,
Pool
#MA4915,
5.00%,
2/1/2038
515,177
520,044
Fannie
Mae,
Pool
#CA8902,
2.50%,
2/1/2041
626,743
565,501
Fannie
Mae,
Pool
#MA4364,
2.00%,
5/1/2041
652,157
569,196
Fannie
Mae,
Pool
#MA4961,
5.00%,
3/1/2043
650,300
654,557
Fannie
Mae,
Pool
#MA4988,
5.00%,
4/1/2043
575,092
579,056
Fannie
Mae,
Pool
#BM4676,
4.00%,
10/1/2048
694,227
663,171
Fannie
Mae,
Pool
#CA5970,
2.50%,
6/1/2050
650,876
546,878
Fannie
Mae,
Pool
#CA6951,
2.50%,
9/1/2050
542,625
462,472
Fannie
Mae,
Pool
#FM7195,
2.50%,
9/1/2050
714,286
600,500
Fannie
Mae,
Pool
#CB0397,
3.00%,
5/1/2051
575,188
509,709
Fannie
Mae,
Pool
#FM8361,
2.50%,
8/1/2051
580,162
490,401
Fannie
Mae,
Pool
#FS1428,
4.00%,
4/1/2052
1,395,097
1,314,754
Fannie
Mae,
Pool
#MA4732,
4.00%,
9/1/2052
780,903
735,296
Fannie
Mae,
Pool
#QE9380,
4.50%,
9/1/2052
756,612
731,524
Fannie
Mae,
Pool
#MA4918,
5.00%,
2/1/2053
750,082
743,047
Fannie
Mae,
Pool
#MA4970,
6.00%,
2/1/2053
700,763
706,863
Fannie
Mae,
Pool
#BX7767,
5.50%,
3/1/2053
1,360,643
1,373,848
Fannie
Mae,
Pool
#MA5054,
4.00%,
6/1/2053
841,781
790,517
Yorktown
Short
Term
Bond
Fund
Schedule
of
Investments
(continued)
April
30,
2026
-
(Unaudited)
Principal
Amount
Fair
Value
Fannie
Mae,
Pool
#FS5779,
5.50%,
9/1/2053
$
746,594
$
757,334
Fannie
Mae,
Pool
#MA5165,
5.50%,
10/1/2053
1,422,000
1,434,490
Fannie
Mae,
Pool
#FS6679,
6.00%,
12/1/2053
708,958
727,912
Fannie
Mae,
Pool
#DB3808,
6.00%,
5/1/2054
858,176
879,109
Fannie
Mae,
Pool
#MA5445,
6.00%,
8/1/2054
1,200,949
1,226,287
Fannie
Mae,
Pool
#MA5615,
6.00%,
2/1/2055
645,800
659,676
Fannie
Mae,
Pool
#MA5700,
5.50%,
5/1/2055
1,193,580
1,200,894
Fannie
Mae
Pool,
4.00%,
5/1/2052
1,149,917
1,082,207
Fannie
Mae
Pool,
5.00%,
9/1/2054
890,948
878,746
Fannie
Mae
Pool,
6.00%,
10/1/2054
1,113,358
1,137,717
Fannie
Mae
Pool,
4.50%,
5/1/2055
944,205
909,286
Fannie
Mae
Pool,
6.00%,
6/1/2055
777,282
793,984
Fannie
Mae
Pool,
4.00%,
7/1/2055
1,447,007
1,358,602
Federal
Farm
Credit
Banks
Funding
Corp.,
4.89%,
9/12/2033
1,000,000
998,780
Federal
Farm
Credit
Banks
Funding
Corp.,
5.15%,
2/17/2039
1,000,000
989,961
Federal
Farm
Credit
Banks
Funding
Corp.,
5.60%,
8/5/2039
1,000,000
994,130
Federal
Farm
Credit
Banks
Funding
Corp.,
5.42%,
12/18/2040
1,000,000
994,579
Federal
Farm
Credit
Banks
Funding
Corp.,
5.37%,
8/26/2044
2,000,000
1,974,878
Federal
Farm
Credit
Banks
Funding
Corp.,
5.93%,
5/1/2045
2,000,000
2,000,000
Federal
Farm
Credit
Banks
Funding
Corp.,
5.49%,
9/23/2049
1,000,000
995,239
Federal
Home
Loan
Banks,
5.05%,
4/23/2036
1,000,000
991,499
Federal
Home
Loan
Banks,
5.15%,
6/4/2038
500,000
494,238
Federal
Home
Loan
Banks,
5.00%,
10/28/2039
300,000
295,928
Federal
Home
Loan
Banks,
5.24%,
2/27/2040
1,000,000
1,006,754
Federal
Home
Loan
Banks,
5.34%,
1/9/2041
1,000,000
990,921
Federal
Home
Loan
Banks,
5.22%,
3/5/2041
1,000,000
983,317
Federal
Home
Loan
Banks,
5.22%,
3/18/2041
500,000
495,037
Federal
Home
Loan
Banks,
5.30%,
3/25/2041
1,500,000
1,487,434
Federal
Home
Loan
Banks,
5.50%,
9/25/2042
1,000,000
989,206
Federal
Home
Loan
Banks,
5.50%,
11/25/2044
1,000,000
990,329
Federal
Home
Loan
Banks,
5.94%,
5/8/2045
1,500,000
1,500,639
Federal
Home
Loan
Banks,
5.40%,
11/29/2049
1,000,000
998,951
Freddie
Mac,
Pool
#SB8229,
4.50%,
5/1/2038
1,197,541
1,192,347
Freddie
Mac,
Pool
#QA5121,
2.50%,
12/1/2049
794,287
674,155
Freddie
Mac,
Pool
#QE2792,
4.00%,
6/1/2052
808,520
762,310
Freddie
Mac,
Pool
#SD1087,
3.50%,
6/1/2052
755,949
690,536
Freddie
Mac,
Pool
#SD8230,
4.50%,
6/1/2052
717,649
693,855
Freddie
Mac,
Pool
#SD2322,
4.50%,
9/1/2052
792,283
765,391
Freddie
Mac,
Pool
#QE9380,
5.00%,
9/1/2052
695,940
689,610
Freddie
Mac,
Pool
#SD8306,
4.50%,
2/1/2053
808,116
779,903
Freddie
Mac,
Pool
#QG1666,
5.00%,
3/1/2053
793,319
789,826
Freddie
Mac,
Pool
#QF8790,
5.50%,
3/1/2053
795,029
803,232
Freddie
Mac,
Pool
#SD2642,
5.50%,
4/1/2053
810,099
821,437
Freddie
Mac,
Pool
#SD3437,
5.00%,
4/1/2053
1,606,181
1,592,561
Freddie
Mac,
Pool
#SD2757,
5.00%,
5/1/2053
767,536
763,895
Freddie
Mac,
Pool
#SD8329,
5.00%,
6/1/2053
793,430
785,969
Freddie
Mac,
Pool
#SD8357,
4.00%,
8/1/2053
864,166
812,449
Freddie
Mac,
Pool
#SD8373,
6.00%,
10/1/2053
1,195,700
1,223,939
Yorktown
Short
Term
Bond
Fund
Schedule
of
Investments
(continued)
April
30,
2026
-
(Unaudited)
Principal
Amount
Fair
Value
Freddie
Mac,
Pool
#SD8408,
5.50%,
3/1/2054
$
1,780,325
$
1,792,556
Freddie
Mac,
Pool
#SD5083,
5.50%,
3/1/2054
704,942
710,758
Freddie
Mac,
Pool
#SD8421,
6.00%,
4/1/2054
597,314
610,795
Freddie
Mac,
Pool
#SD8431,
5.50%,
5/1/2054
728,673
733,512
Freddie
Mac,
Pool
#SD8453,
5.50%,
8/1/2054
1,479,447
1,489,045
Freddie
Mac,
Pool
#SD8516,
6.00%,
3/1/2055
989,112
1,010,365
Freddie
Mac
Pool,
5.00%,
11/1/2054
879,665
867,855
Freddie
Mac
Pool,
5.00%,
11/1/2054
1,226,033
1,209,210
Freddie
Mac
Pool,
5.00%,
5/1/2055
930,372
917,892
Freddie
Mac
Pool,
5.00%,
10/1/2055
960,197
947,092
Freddie
Mac
Pool,
5.00%,
2/1/2056
1,475,475
1,454,881
Freddie
Mac
Pool,
5.00%,
3/1/2056
1,997,511
1,969,629
Freddie
Mac
Pool,
5.00%,
3/1/2056
1,982,491
1,954,922
Freddie
Mac
Pool,
5.00%,
4/1/2056
1,993,513
1,965,688
UMBS
Fannie
Mae
Pool,
4.50%,
5/1/2054
1,799,004
1,732,481
UMBS
Fannie
Mae
Pool,
5.00%,
2/1/2055
1,340,586
1,322,225
United
States
Treasury
Note/Bond,
4.38%,
11/30/2028
3,000,000
3,034,277
United
States
Treasury
Note/Bond,
4.00%,
7/31/2032
FIXED
2,000,000
1,983,281
Total
U.S.
Government
&
Agencies
(Cost $88,065,171)
87,193,446
COLLATERALIZED
LOAN
OBLIGATIONS
—
1.42%
Benefit
Street
Partners
CLO
XXV
Ltd.,
Series
21-25A,
Class
A2R,
4.87%,
1/15/2035
(TSFR3M
+
120bps)
(a),(b)
1,000,000
997,863
Elmwood
CLO
38
Ltd.,
Series
2025-1A,
Class
A,
4.82%,
4/22/2038
(TSFR3M
+
115.0bps)
(a),(b)
500,000
499,286
Oaktree
CLO
Ltd.,
Series
2019-3,
5.06%,
1/20/2038
(TSFR3M
+
138.0bps)
(a),(b)
1,000,000
1,001,945
Total
Collateralized
Loan
Obligations
(Cost $2,500,000)
2,499,094
Total
Investments
—
95.81%
(Cost
$169,879,823)
169,071,415
Other
Assets
in
Excess
of
Liabilities
—
4.19%
7,386,862
Net
Assets
—
100.00%
$
176,458,277
(a)
Security
exempt
from
registration
under
Rule
144A
or
Section
4(2)
of
the
Securities
Act
of
1933.
The
security
may
be
resold
in
transactions
exempt
from
registration,
normally
to
qualified
institutional
buyers.
The
total
fair
value
of
these
securities
as
April
30,
2026
was
$29,355,341,
representing
16.64%
of
net
assets.
(b)
Variable
rate
security.
Interest
rate
resets
periodically.
The
rate
shown
is
the
effective
interest
rate
as
of
April
30,
2026.
For
securities
based
on
a
published
reference
rate
and
spread,
the
reference
rate
and
spread
(in
basis
points)
are
indicated
parenthetically.
Certain
variable
rate
securities
are
not
based
on
a
published
reference
rate
and
spread
but
are
determined
by
the
issuer
or
agent
and
are
based
on
current
market
conditions.
These
securities,
therefore,
do
not
indicate
a
reference
rate
and
spread.
MTN
-
Medium
Term
Note
Yorktown
Short
Term
Bond
Fund
Schedule
of
Investments
(continued)
April
30,
2026
-
(Unaudited)
H15T5Y
-
5
Year
Treasury
Rate
SOFR
-
Secured
Overnight
Financing
Rate
TSFR3M
-
Secured
Overnight
Financing
Rate
(3
Month)
Yorktown
Growth
Fund
Schedule
of
Investments
April
30,
2026
-
(Unaudited)
Shares
Fair
Value
COMMON
STOCKS
—
98.41%
Communications
—
0.65%
Grindr,
Inc.
(a)
22,000
$
294,140
Naspers
Ltd.,
Class
N
-
ADR
46,000
502,320
796,460
Consumer
Discretionary
—
6.50%
Asics
Corporation
-
ADR
24,000
675,480
Axon
Enterprise,
Inc.
(a)
1,875
753,300
Copart,
Inc.
(a)
9,400
311,234
Deckers
Outdoor
Corporation
(a)
2,800
286,160
FirstCash
Holdings,
Inc.
2,300
501,906
Freshpet,
Inc.
(a)
8,750
589,575
Life
Time
Group
Holdings,
Inc.
(a)
7,950
213,140
Lithia
Motors,
Inc.,
Class
A
2,100
609,252
Lovesac
Company
(The)
(a)
18,700
295,647
Modine
Manufacturing
Co.
(a)
4,150
1,056,715
MonotaRO
Co.,
Ltd.
-
ADR
29,500
345,887
On
Holding
AG
(a)
14,950
532,369
PulteGroup,
Inc.
4,000
489,440
Ralph
Lauren
Corp.
700
251,048
Rush
Street
Interactive,
Inc.
(a)
26,900
755,890
Visteon
Corp.
2,000
223,420
7,890,463
Consumer
Staples
—
1.85%
BBB
Foods,
Inc.
(a)
8,150
297,475
Casey's
General
Stores,
Inc.
1,200
986,580
Performance
Food
Group
Co.
(a)
5,630
509,853
Tootsie
Roll
Industries,
Inc.
10,609
447,912
2,241,820
Energy
—
1.87%
Flowco
Holdings,
Inc.,
Class
A
12,600
312,858
Helmerich
&
Payne,
Inc.
7,800
314,964
Northern
Oil
and
Gas,
Inc.
11,250
305,550
Texas
Pacific
Land
Corp.
1,440
638,885
Thermon
Group
Holdings
(a)
6,300
381,087
Transportadora
de
Gas
del
Sur
SA
-
ADR
(a)
10,300
314,253
2,267,597
Financials
—
14.47%
Applied
Blockchain,
Inc.
(a)
30,350
1,039,487
Ategrity
Specialty
Holdings,
LLC
(a)
14,650
278,350
Customers
Bancorp,
Inc.
(a)
4,850
369,909
Deutsche
Boerse
AG
-
ADR
(a)
31,000
950,305
Etoro
Group
Ltd.
(a)
8,300
295,314
FTAI
Aviation
Ltd.
5,800
1,448,086
Futu
Holdings
Ltd.
-
ADR
(a)
3,500
540,785
Hamilton
Insurance
Group
Ltd,
Class
B
(a)
16,900
553,813
Hamilton
Lane,
Inc.,
Class
A
3,300
303,567
HCI
Group,
Inc.
(a)
3,200
491,424
Yorktown
Growth
Fund
Schedule
of
Investments
(continued)
April
30,
2026
-
(Unaudited)
Shares
Fair
Value
Houlihan
Lokey,
Inc.,
Class
A
3,850
$
595,787
Interactive
Brokers
Group,
Inc.,
Class
A
12,400
985,800
Janus
Henderson
Group
plc
5,850
301,918
KKR
&
Co.,
Inc.
7,200
751,248
LPL
Financial
Holdings,
Inc.
1,700
568,021
Mercury
General
Corporation
3,100
301,661
Old
National
Bancorp
14,150
339,176
Patria
Investments
Ltd.,
Class
A
(a)
34,000
438,940
Piper
Sandler
Cos
4,240
369,728
Raymond
James
Financial,
Inc.
6,450
1,021,164
RenaissanceRe
Holdings
Ltd.
1,450
445,106
SiriusPoint
Ltd.
(a)
12,700
297,307
Stifel
Financial
Corp.
7,350
579,254
Stock
Yards
Bancorp,
Inc.
(a)
8,100
585,873
StoneX
Group,
Inc.
(a)
10,800
1,145,124
Synchrony
Financial
6,000
457,200
Tradeweb
Markets,
Inc.,
Class
A
2,630
297,848
Victory
Capital
Holdings,
Inc.
4,050
317,966
WaFd,
Inc.
8,450
299,130
Webster
Financial
Corporation
4,150
300,294
Western
Alliance
Bancorp
7,200
587,088
White
Mountains
Insurance
Group
Ltd.
135
301,319
17,557,992
Health
Care
—
15.42%
ACADIA
Pharmaceuticals,
Inc.
(a)
13,400
300,830
Alkermes
plc
(a)
8,900
300,019
Argenx
SE
-
ADR
(a)
425
332,231
Aurinia
Pharmaceuticals,
Inc.
(a)
18,200
280,007
Axogen,
Inc.
(a)
7,000
302,400
Axsome
Therapeutics,
Inc.
(a)
2,950
612,862
Beam
Therapeutics,
Inc.
(a)
9,750
295,717
BioCryst
Pharmaceuticals,
Inc.
(a)
32,750
299,990
Bridgebio
Pharma,
Inc.
(a)
4,200
298,662
Bruker
Corp.
8,400
308,364
Catalyst
Pharmaceuticals,
Inc.
(a)
10,350
291,145
CG
oncology,
Inc.
(a)
4,450
296,993
Corcept
Therapeutics,
Inc.
(a)
6,500
302,380
Cytokinetics,
Inc.
(a)
7,750
495,767
Denali
Therapeutics,
Inc.
(a)
15,900
297,648
Ensign
Group,
Inc.
(The)
2,500
466,725
Exelixis,
Inc.
(a)
6,650
295,659
Glaukos
Corporation
(a)
1,100
158,037
Globus
Medical,
Inc.,
Class
A
(a)
6,400
577,152
GRAIL,
Inc.
(a)
5,750
313,260
Guardant
Health,
Inc.
(a)
3,650
317,842
Guardian
Pharmacy
Services,
Inc.,
Class
A
(a)
7,850
291,235
Haemonetics
Corp.
(a)
4,400
264,396
Halozyme
Therapeutics,
Inc.
(a)
7,850
499,731
Yorktown
Growth
Fund
Schedule
of
Investments
(continued)
April
30,
2026
-
(Unaudited)
Shares
Fair
Value
Insmed,
Inc.
(a)
3,750
$
511,238
Integer
Holdings
Corp.
(a)
3,400
300,934
Krystal
Biotech,
Inc.
(a)
2,000
524,520
Lantheus
Holdings,
Inc.
(a)
3,600
304,632
Legend
Biotech
Corporation
-
ADR
(a)
14,250
335,160
LifeStance
Health
Group,
Inc.
(a)
39,850
301,664
Ligand
Pharmaceuticals,
Inc.,
B
(a)
1,300
298,285
Liquidia
Corporation
(a)
7,850
307,799
Lonza
Group
AG
-
ADR
4,600
282,578
Madrigal
Pharmaceuticals,
Inc.
(a)
500
258,695
Medpace
Holdings,
Inc.
(a)
1,800
753,588
Neurocrine
Biosciences,
Inc.
(a)
3,750
493,763
Oscar
Health,
Inc.,
Class
A
(a)
17,400
321,204
PACS
Group,
Inc.
(a)
7,800
261,690
Penumbra,
Inc.
(a)
3,000
979,440
Phibro
Animal
Health
Corporation,
A
5,650
300,467
Praxis
Precision
Medicines,
Inc.
(a)
875
278,976
Radnet,
Inc.
(a)
5,350
302,543
Relay
Therapeutics,
Inc.
(a)
23,200
300,672
Sarepta
Therapeutics,
Inc.
(a)
14,250
297,540
Scholar
Rock
Holding
Corporation
(a)
6,400
298,304
Stoke
Therapeutics,
Inc.
(a)
9,150
299,388
Syndax
Pharmaceuticals,
Inc.
(a)
14,000
300,020
Tarsus
Pharmaceuticals,
Inc.
(a)
4,950
314,870
TG
Therapeutics,
Inc.
(a)
13,700
462,786
Travere
Therapeutics,
Inc.
(a)
7,300
307,476
Twist
Bioscience
Corp.
(a)
5,100
298,095
Ultragenyx
Pharmaceutical,
Inc.
(a)
10,750
265,418
Veracyte,
Inc.
(a)
7,750
255,130
18,715,927
Industrials
—
33.24%
API
Group
Corp.
(a)
15,150
692,658
Bloom
Energy
Corporation,
Class
A
(a)
4,150
1,175,944
BWX
Technologies,
Inc.
4,700
1,017,033
Camtek
Ltd.
(a)
7,050
1,353,036
CECO
Environmental
Corp.
(a)
9,700
719,158
Chart
Industries,
Inc.
(a)
1,550
322,245
Clean
Harbors,
Inc.
(a)
1,450
453,386
Comfort
Systems
USA,
Inc.
2,960
5,447,140
Core
&
Main,
Inc.,
Class
A
(a)
13,300
669,921
Corporation
America
Airports
S.A.
(a)
13,600
339,320
Curtiss-Wright
Corp.
1,400
1,008,280
Disco
Corp.
-
ADR
(a)
23,050
1,108,935
DSV
AS
-
ADR
(a)
3,850
470,778
Dycom
Industries,
Inc.
(a)
1,476
611,211
Embraer
SA
-
ADR
(a)
4,200
263,340
ESCO
Technologies,
Inc.
1,125
364,444
Evolv
Technologies
Holdings,
Inc.
(a)
72,500
522,000
Yorktown
Growth
Fund
Schedule
of
Investments
(continued)
April
30,
2026
-
(Unaudited)
Shares
Fair
Value
Flowserve
Corporation
3,500
$
257,740
Fluidra
SA
15,600
364,311
Forgent
Power
Solutions,
Inc.
(a)
17,200
647,064
Franklin
Electric
Co.,
Inc.
6,000
601,140
Graham
Corporation
(a)
5,450
518,840
Granite
Construction,
Inc.
2,400
328,968
Grupo
Aeroportuario
del
Sureste
S.A.B.
de
C.V.
-
ADR
1,390
425,118
HEICO
Corp.
1,280
345,498
IES
Holdings,
Inc.
(a)
4,570
2,943,446
Installed
Building
Products,
Inc.
1,300
375,115
ITT,
Inc.
3,300
707,322
Karman
Holdings,
Inc.
(a)
3,350
227,733
Korn/Ferry
International
5,700
378,708
Leonardo
DRS,
Inc.
(a)
7,900
320,977
MasTec,
Inc.
(a)
2,200
866,910
Mueller
Industries,
Inc.
7,800
1,056,354
Nextpower,
Inc.,
Class
A
(a)
2,550
303,781
nVent
Electric
PLC
2,400
342,960
Ondas
Holdings,
Inc.
(a)
59,250
594,870
Primoris
Services
Corp.
4,100
742,715
Prysmian
SpA
(a)
14,400
2,163,297
Prysmian
SpA
-
ADR
(a)
15,000
1,137,750
RBC
Bearings,
Inc.
(a)
1,000
599,090
Rollins,
Inc.
7,300
406,829
Saia,
Inc.
(a)
1,840
825,829
Schneider
National,
Inc.,
Class
B
9,800
304,682
SPX
Technologies,
Inc.
(a)
2,700
591,057
Sunbelt
Rentals
Holdings,
Inc.
8,200
627,546
Teledyne
Technologies,
Inc.
(a)
900
581,265
TopBuild
Corp.
(a)
1,300
575,510
Transcat,
Inc.
(a)
4,000
304,400
WESCO
International,
Inc.
3,600
1,256,832
Woodward,
Inc.
2,750
998,222
Xometry,
Inc.,
Class
A
(a)
11,050
566,534
Zurn
Water
Solutions,
Inc.
9,750
506,610
40,333,852
Materials
—
2.61%
Eagle
Materials,
Inc.
1,650
346,681
Givaudan
SA
-
ADR
(a)
5,100
363,324
Gold
Fields
Ltd.
-
ADR
22,750
966,420
Hawkins,
Inc.
3,700
619,565
Kingspan
Group
PLC
-
ADR
(a)
4,650
435,147
United
States
Lime
&
Minerals,
Inc.
4,125
444,139
3,175,276
Real
Estate
—
0.97%
CBRE
Group,
Inc.,
Class
A
(a)
2,700
385,371
Hannon
Armstrong
Sustainable
Infrastructure
11,550
484,522
Yorktown
Growth
Fund
Schedule
of
Investments
(continued)
April
30,
2026
-
(Unaudited)
Shares
Fair
Value
NETSTREIT
Corporation
14,650
$
301,351
1,171,244
Technology
—
19.37%
Accelerant
Holdings
(a)
22,800
296,628
Advantest
Corp.
-
ADR
5,400
1,009,800
Arista
Networks,
Inc.
(a)
9,800
1,692,558
ASM
International
NV
-
ADR
(a)
1,070
1,042,940
Celestica,
Inc.
(a)
2,450
1,003,495
Ciena
Corp.
(a)
1,650
870,507
Cipher
Mining,
Inc.
(a)
19,700
349,478
Clear
Secure,
Inc.,
Class
A
6,350
339,026
Clearwater
Analytics
Holdings,
Inc.,
Class
A
(a)
16,700
404,140
Datadog,
Inc.,
Class
A
(a)
4,000
528,760
Digi
International,
Inc.
(a)
13,700
767,748
DigitalOcean
Holdings,
Inc.
(a)
4,900
472,507
Dlocal
Ltd.,
Class
A
41,500
576,020
ExlService
Holdings,
Inc.
(a)
12,100
385,748
Fabrinet
(a)
3,150
2,152,931
Fortinet,
Inc.
(a)
4,950
417,334
Hinge
Health,
Inc.
(a)
6,700
298,820
InterDigital,
Inc.
1,450
430,012
KLA
Corp.
890
1,557,811
Lumentum
Holdings,
Inc.
(a)
1,125
1,015,110
Monolithic
Power
Systems,
Inc.
650
1,049,367
Navan,
Inc.
(a)
18,650
326,188
Nova
Ltd.
(a)
1,980
990,851
PTC,
Inc.
(a)
2,800
381,640
RingCentral,
Inc.,
Class
A
(a)
13,050
524,871
Riot
Platforms,
Inc.
(a)
16,500
284,460
Samsara,
Inc.,
Class
A
(a)
10,100
290,274
Semtech
Corporation
(a)
6,850
719,593
Sezzle
Inc
(a)
3,950
314,420
SPS
Commerce,
Inc.
(a)
4,330
243,000
SYNNEX
Corp.
2,700
616,086
TDK
Corp.
-
ADR
(a)
37,500
699,750
Tyler
Technologies,
Inc.
(a)
1,650
562,881
Unity
Software,
Inc.
(a)
22,550
595,771
Verra
Mobility
Corp.
(a)
19,750
292,893
23,503,418
Utilities
—
1.46%
Kenon
Holdings
Ltd.
3,600
331,488
Pampa
Energia
SA
-
ADR
(a)
7,200
596,664
SSE
PLC
-
ADR
14,400
522,144
WaterBridge
Infrastructure,
LLC,
Class
A
10,600
319,484
1,769,780
Total
Common
Stocks
(Cost $69,078,746)
119,423,829
Yorktown
Growth
Fund
Schedule
of
Investments
(continued)
April
30,
2026
-
(Unaudited)
Shares
Fair
Value
Total
Investments
—
98.41%
(Cost
$69,078,746)
$
119,423,829
Other
Assets
in
Excess
of
Liabilities
—
1.59%
1,931,861
Net
Assets
—
100.00%
$
121,355,690
(a)
Non-income
producing
security.
ADR
-
American
Depositary
Receipt
Yorktown
Multi-Sector
Bond
Fund
Schedule
of
Investments
April
30,
2026
-
(Unaudited)
Principal
Amount
Fair
Value
CORPORATE
BONDS
AND
NOTES
—
46.54%
Communications
—
1.37%
Alphabet,
Inc.,
4.38%,
11/15/2032
$
1,000,000
$
990,357
CCO
Holdings
LLC,
5.00%,
2/1/2028
(a)
1,000,000
988,798
Meta
Platforms,
Inc.,
4.60%,
11/15/2032
1,000,000
988,475
Prosus
NV,
MTN,
3.06%,
7/13/2031
(a)
500,000
457,196
Univision
Communications,
Inc.,
4.50%,
5/1/2029
(a)
500,000
477,398
VMED
OC
UK
Financing
PLC,
4.75%,
7/15/2031
(a)
1,000,000
865,767
4,767,991
Consumer
Discretionary
—
7.40%
Amazon.com,
Inc.,
4.88%,
3/13/2036
2,000,000
1,971,435
Boyd
Gaming
Corp.,
4.75%,
12/1/2027
1,000,000
996,009
Carnival
Corp.,
4.00%,
8/1/2028
(a)
2,000,000
1,953,940
Carnival
Corp.,
5.13%,
5/1/2029
(a)
500,000
498,761
Ford
Motor
Co.,
Class
B,
3.25%,
2/12/2032
500,000
438,882
Ford
Motor
Credit
Co
LLC,
4.95%,
5/28/2027
2,000,000
2,000,295
Ford
Motor
Credit
Co.,
LLC,
2.90%,
2/10/2029
1,500,000
1,409,220
General
Motors
Financial
Co.,
Inc.,
5.35%,
1/7/2030
2,000,000
2,040,086
Hilton
Worldwide
Finance
LLC,
4.88%,
4/1/2027
2,000,000
1,996,123
Home
Depot,
Inc.
(The),
4.95%,
9/15/2052
1,000,000
891,560
Home
Depot,
Inc.
(The),
5.30%,
6/25/2054
1,000,000
934,454
KFC
Holding
Co/Pizza
Hut
Hold.
LLC/Taco
Bell
LLC,
4.75%,
6/1/2027
(a)
2,000,000
1,997,645
Lowe's
Cos,
Inc.,
5.63%,
4/15/2053
1,000,000
947,659
McDonald's
Corp.,
5.45%,
8/14/2053
2,000,000
1,888,999
MGM
Resorts
International,
4.63%,
9/1/2026
1,000,000
1,000,076
Nissan
Motor
Acceptance
Co.,
LLC,
5.68%,
9/13/2027
(SOFRIX
+
205bps)
(a)
1,000,000
993,222
Nissan
Motor
Co.
Ltd.,
4.81%,
9/17/2030
(a)
1,000,000
934,819
Service
Corp
International/US,
4.63%,
12/15/2027
2,000,000
1,986,569
Yum!
Brands,
Inc.,
3.63%,
3/15/2031
1,000,000
932,053
25,811,807
Consumer
Staples
—
3.03%
Anheuser-Busch
Cos.,
LLC,
4.70%,
2/1/2036
(a)
100,000
97,743
Coca-Cola
Co.
(The),
4.65%,
8/14/2034
1,000,000
1,005,672
Constellation
Brands,
Inc.,
2.25%,
8/1/2031
500,000
442,039
JBS
USA
LUX
SA,
3.75%,
12/1/2031
250,000
234,712
JBS
USA
LUX
SA,
3.63%,
1/15/2032
500,000
462,976
Kraft
Heinz
Foods
Co.,
5.00%,
6/4/2042
(a)
300,000
265,400
Kraft
Heinz
Foods
Co.,
4.38%,
6/1/2046
1,000,000
784,145
Kraft
Heinz
Foods
Co.,
4.88%,
10/1/2049
1,000,000
819,384
Kroger
Co.
(The),
5.00%,
9/15/2034
1,000,000
988,171
Land
O'
Lakes,
Inc.,
7.25%,
12/31/2049
(a)
500,000
461,250
Molson
Coors
Beverage
Co.,
4.20%,
7/15/2046
1,000,000
785,387
PepsiCo,
Inc.,
5.25%,
7/17/2054
1,000,000
956,920
Performance
Food
Group,
Inc.,
4.25%,
8/1/2029
(a)
500,000
485,110
Pilgrim's
Pride
Corp.,
4.25%,
4/15/2031
1,000,000
961,889
Target
Corp.,
4.50%,
9/15/2034
1,000,000
974,285
Walmart,
Inc.,
4.50%,
4/15/2053
1,000,000
867,213
Yorktown
Multi-Sector
Bond
Fund
Schedule
of
Investments
(continued)
April
30,
2026
-
(Unaudited)
Principal
Amount
Fair
Value
$
10,592,296
Energy
—
1.59%
Energy
Transfer
LP,
6.50%,
2/15/2056
H15T5Y
+
267.60BPS
$
1,000,000
1,003,335
Hess
Midstream
Operations
LP,
5.88%,
3/1/2028
(a)
1,000,000
1,010,372
Marathon
Petroleum
Corp.,
5.15%,
3/1/2030
1,000,000
1,020,674
NuStar
Logistics
LP,
Class
B,
5.63%,
4/28/2027
2,000,000
2,008,174
Sunoco
LP
/
Sunoco
Finance
Corp,
5.88%,
3/15/2028
500,000
502,441
5,544,996
Financials
—
17.31%
American
Express
Co.,
3.55%,
12/31/2049
(H15T5Y
+
285.4bps)
(b)
1,000,000
991,202
Assurant,
Inc.,
7.00%,
3/27/2048
1,000,000
1,013,528
Banco
Bilbao
Vizcaya
Argentaria
S.A.,
6.13%,
2/16/2049
(USSW5
+
387.0bps)
(b)
800,000
802,940
Bank
of
America
Corp.,
4.38%,
4/27/2170
(H15T5Y
+
276.0bps)
(b)
2,000,000
1,982,747
Bank
of
New
York
Mellon
Corp.
(The),
Series
F,
Class
F,
4.63%,
12/20/2049
(TSFR3M
+
339.26bps)
(b)
1,000,000
997,166
Bank
of
Nova
Scotia
(The),
8.00%,
1/27/2084
(H15T5Y
+
401.70bps)
1,000,000
1,061,058
Bank
of
Nova
Scotia/The,
6.88%,
10/27/2085
VARIABLE
(b)
500,000
506,191
Barclays
PLC,
4.84%,
5/9/2028
2,000,000
2,002,269
Barclays
PLC,
5.09%,
6/20/2030
(USISSO05
+
305.40bps)
(b)
1,500,000
1,506,997
Barclays
PLC,
9.63%,
12/31/2049
(USISSO05
+
577.50bps)
(b)
1,000,000
1,116,615
BBVA
Bancomer
S.A.,
5.13%,
1/18/2033
(H15T5Y
+
265.0bps)
2,000,000
1,969,400
BNP
Paribas
SA,
8.00%,
8/22/2171
(H15T5Y
+372.70bps)
(a)
1,500,000
1,608,789
Charles
Schwab
Corp./
The,
4.00%,
12/31/2049
H15T5Y
+
316.80bps
(b)
1,000,000
998,998
Citigroup,
Inc.,
6.75%,
12/31/2049
(H15T5Y
+
257.20bps)
(b)
2,000,000
2,013,390
Citigroup,
Inc.,
7.13%,
12/31/2049
(H15T5Y
+
269.3bps)
(b)
1,000,000
1,015,318
Citigroup,
Inc.,
4.15%,
2/15/2172
(H15T5Y
+
300.0bps)
(b)
2,000,000
1,987,084
Credit
Agricole
SA,
MTN,
4.75%,
12/23/2169
(H15T5Y
+
323.7bps)
(a),(b)
1,000,000
974,061
GATX
Corp.,
Class
B,
4.00%,
6/30/2030
2,000,000
1,954,565
Goldman
Sachs
Group,
Inc.
(The),
6.13%,
5/10/2049
(b)
1,000,000
1,008,033
Goldman
Sachs
Group,
Inc.
(The),
7.50%,
5/10/2079
(H15T5Y
+
280.90bps)
1,000,000
1,045,753
HSBC
Holdings
PLC,
8.00%,
9/7/2093
(H15T5Y
+
385.8bps)
(b)
1,000,000
1,046,181
ING
Groep
NV,
5.75%,
11/16/2167
(H15T5Y
+
432.2bps)
(b)
1,000,000
1,003,083
ING
Groep
NV,
4.25%,
10/16/2169
(H15T5Y
+
286.2bps)
1,000,000
901,246
JPMorgan
Chase
&
Co.,
6.88%,
6/1/2071
(H15T5Y
+
273.7bps)
(b)
1,000,000
1,042,405
JPMorgan
Chase
&
Co.,
6.50%,
4/1/2080
(H15T5Y
+
215.20bps)
(b)
2,000,000
2,054,440
Lloyds
Banking
Group
PLC,
8.00%,
3/27/2170
(H15T5Y
+
391.3bps)
(b)
1,000,000
1,069,984
Macquarie
Bank
Ltd.,
3.62%,
6/3/2030
(a)
1,000,000
949,393
Massachusetts
Mutual
Life
Insurance
Co.,
3.38%,
4/15/2050
(a)
1,000,000
676,905
Morgan
Stanley
Bank
NA,
4.60%,
7/14/2028
O/N
SOFR
+
94BPS
1,075,000
1,078,404
Nationwide
Mutual
Insurance
Co.,
4.35%,
4/30/2050
(a)
500,000
382,281
Nordea
Bank
Abp,
6.30%,
3/25/2049
(a)
1,000,000
1,010,218
Nordea
Bank
Abp,
3.75%,
3/1/2140
(H15T5Y
+
260.2bps)
(a)
1,000,000
946,618
Pacific
LifeCorp,
3.35%,
9/15/2050
(a)
500,000
335,418
Pacific
LifeCorp,
5.40%,
9/15/2052
(a)
1,000,000
932,007
Pricoa
Global
Funding
I,
4.70%,
5/28/2030
(a)
2,000,000
2,010,588
Royal
Bank
of
Canada,
7.50%,
5/2/2084
(H15T5Y
+
288.70bps)
(b)
2,000,000
2,079,244
Yorktown
Multi-Sector
Bond
Fund
Schedule
of
Investments
(continued)
April
30,
2026
-
(Unaudited)
Principal
Amount
Fair
Value
Societe
Generale
SA,
8.50%,
3/25/2071
(H15T5Y
+
415.30bps)
(a),(b)
$
500,000
$
549,874
Societe
Generale
SA,
10.00%,
5/14/2169
(H15T5Y
+
544.80bps)
(a)
1,000,000
1,096,110
Standard
Chartered
PLC,
4.30%,
2/19/2169
(H15T5Y
+
313.50bps)
(a)
2,000,000
1,925,339
State
Street
Corp.,
6.70%,
12/31/2049
(b)
1,000,000
1,031,140
State
Street
Corp.,
6.45%,
9/5/2080
(H15T5Y
+
213.50bps)
2,000,000
2,045,592
Toronto-Dominion
Bank
(The),
8.13%,
10/31/2082
(H15T5Y
+
407.50bps)
(b)
1,000,000
1,040,815
Toronto-Dominion
Bank
(The),
7.25%,
7/31/2084
(H15T5Y
+
297.70bps)
(b)
1,000,000
1,039,442
UBS
Group
AG,
7.75%,
12/31/2049
(USISSO05
+
416bps)
(a)
1,000,000
1,069,681
UBS
Group
AG,
4.38%,
8/10/2171
(H15T5Y
+
331.3bps)
(a),(b)
1,000,000
919,599
UniCredit
SpA,
5.86%,
6/19/2032
(USISDA05
+
370.3bps)
(a)
2,000,000
2,013,574
UniCredit
SpA,
5.46%,
6/30/2035
(H15T5Y
+
475.0bps)
(a)
500,000
501,220
US
Bancorp,
5.30%,
4/15/2171
(TSFR3M
+
317.6bps)
(b)
1,000,000
997,297
Wells
Fargo
&
Co.,
6.85%,
7/15/2071
(H15T5Y
+
276.7bps)
1,000,000
1,040,878
Wells
Fargo
&
Co.,
Class
B,
7.63%,
9/15/2171
(H15T5Y
+
360.6bps)
(b)
1,000,000
1,050,699
60,395,779
Health
Care
—
1.01%
Humana,
Inc.,
5.38%,
4/15/2031
1,000,000
1,013,875
Novartis
Capital
Corp.,
4.34%,
11/5/2028
1,000,000
1,004,163
Tenet
Healthcare
Corp,
5.13%,
11/1/2027
1,500,000
1,499,423
3,517,461
Industrials
—
5.64%
Air
Canada,
3.88%,
8/15/2026
(a)
1,000,000
997,980
Burlington
Northern
Santa
Fe
LLC,
4.45%,
1/15/2053
2,000,000
1,656,739
Burlington
Northern
Santa
Fe
LLC,
5.20%,
4/15/2054
1,000,000
922,750
Burlington
Northern
Santa
Fe
LLC,
5.50%,
3/15/2055
1,000,000
964,197
BWX
Technologies
Inc,
4.13%,
6/30/2028
(a)
1,000,000
987,763
Canadian
Pacific
Railway
Co.,
Class
B,
2.45%,
12/2/2031
1,000,000
892,950
Chart
Industries
Inc,
7.50%,
1/1/2030
(a)
500,000
519,690
CSX
Corp.,
5.50%,
4/15/2041
1,000,000
1,012,661
GE
Vernova,
Inc.,
4.88%,
2/4/2036
1,500,000
1,484,327
Honeywell
Aerospace,
Inc.,
4.95%,
3/16/2036
(a)
1,500,000
1,483,547
Honeywell
International,
Inc.,
5.25%,
3/1/2054
1,000,000
935,974
Norfolk
Southern
Corp.,
5.05%,
8/1/2030
500,000
511,312
Ritchie
Bros
Holdings
Inc,
6.75%,
3/15/2028
(a)
1,500,000
1,522,212
Triton
Container
International
Ltd.,
3.25%,
3/15/2032
500,000
447,789
Union
Pacific
Corp.,
3.20%,
5/20/2041
1,000,000
776,066
Union
Pacific
Corp.,
2.95%,
3/10/2052
1,000,000
630,590
United
Parcel
Service,
Inc.,
5.50%,
5/22/2054
1,000,000
959,167
United
Rentals
North
America
Inc.,
4.88%,
1/15/2028
2,000,000
1,997,665
Vertiv
Group
Corp.,
4.13%,
11/15/2028
(a)
1,000,000
988,634
19,692,013
Materials
—
1.27%
Ball
Corp.,
2.88%,
8/15/2030
1,000,000
910,073
Bemis
Co.,
Inc.,
2.63%,
6/19/2030
500,000
462,120
Berry
Global,
Inc.,
Series
21-25A,
Class
CR,
5.80%,
6/15/2031
(TSFR3M
+
165bps)
(a),(b)
1,500,000
1,563,207
Canpack
SA,
3.88%,
11/15/2029
(a)
500,000
473,390
Yorktown
Multi-Sector
Bond
Fund
Schedule
of
Investments
(continued)
April
30,
2026
-
(Unaudited)
Principal
Amount
Fair
Value
Crown
Americas
LLC,
5.88%,
6/1/2033
$
1,000,000
$
1,007,972
4,416,762
Real
Estate
—
0.62%
Iron
Mountain,
Inc.,
4.88%,
9/15/2029
(a)
1,000,000
986,737
Iron
Mountain,
Inc.,
5.25%,
7/15/2030
(a)
1,000,000
990,192
SBA
Communications
Corp.,
3.88%,
2/15/2027
(a)
200,000
198,874
2,175,803
Technology
—
2.86%
Broadcom,
Inc.,
4.15%,
11/15/2030
1,000,000
985,071
Broadcom,
Inc.,
4.15%,
11/15/2030
500,000
492,535
Broadcom,
Inc.,
2.60%,
2/15/2033
1,000,000
875,085
Dell
International
LLC
/
EMC
Corp.,
5.00%,
4/1/2030
1,000,000
1,014,124
Dell
International
LLC
/
EMC
Corp.,
4.85%,
2/1/2035
1,000,000
974,325
Hewlett
Packard
Enterprise
Co.,
5.00%,
10/15/2034
1,000,000
977,548
HP,
Inc.,
6.00%,
9/15/2041
2,500,000
2,507,170
Juniper
Networks,
Inc.,
2.00%,
12/10/2030
500,000
439,490
Juniper
Networks,
Inc.,
5.95%,
3/15/2041
700,000
692,680
Leidos,
Inc.,
5.75%,
3/15/2033
(a)
1,000,000
1,039,031
9,997,059
Utilities
—
4.44%
AEP
Texas,
Inc.,
Class
I,
2.10%,
7/1/2030
500,000
454,276
Ameren
Illinois
Co.,
4.95%,
6/1/2033
1,000,000
1,007,351
American
Electric
Power
Co
Inc,
3.88%,
2/15/2062
H15T5Y
+
267.50bps
(b)
500,000
492,768
Dayton
Power
&
Light
Co.
(The),
3.95%,
6/15/2049
1,000,000
749,636
Dominion
Energy
Inc,
6.00%,
2/15/2056
H15T10Y
+
2.262%
1,000,000
1,001,194
Dominion
Energy,
Inc.,
4.35%,
1/15/2167
(H15T5Y
+
319.5bps)
(b)
1,000,000
991,880
Duke
Energy
Carolinas
LLC,
Series
2021-4A,
Class
E,
4.85%,
1/15/2034
(H15T5Y
+
319.5bps)
1,000,000
999,111
Duke
Energy
Ohio,
Inc.,
5.55%,
3/15/2054
1,000,000
956,064
Duke
Energy
Progress
LLC,
2.50%,
8/15/2050
1,000,000
570,438
Kentucky
Utilities
Co.,
3.30%,
6/1/2050
1,000,000
676,254
National
Rural
Utilities
Cooperative
Finance
Corp.,
4.30%,
12/10/2030
1,000,000
991,006
NRG
Energy,
Inc.,
4.45%,
6/15/2029
(a)
1,000,000
986,904
NRG
Energy,
Inc.,
5.75%,
7/15/2029
(a)
1,000,000
1,000,079
Pacific
Gas
and
Electric
Co.,
4.25%,
3/15/2046
500,000
386,040
PPL
Electric
Utilities
Corp.,
5.25%,
5/15/2053
1,000,000
930,009
Southern
California
Edison
Co.,
4.88%,
3/1/2049
1,000,000
830,908
Southern
Co.
(The),
4.85%,
3/15/2035
1,000,000
973,528
Union
Electric
Co.,
3.90%,
4/1/2052
750,000
563,241
Union
Electric
Co.,
5.25%,
1/15/2054
1,000,000
920,956
15,481,643
Total
Corporate
Bonds
and
Notes
(Cost $165,802,058)
162,393,610
ASSET
BACKED
SECURITIES
—
4.14%
Yorktown
Multi-Sector
Bond
Fund
Schedule
of
Investments
(continued)
April
30,
2026
-
(Unaudited)
Principal
Amount
Fair
Value
American
Airlines
Pass
Through
Trust,
Series
2021-1,
Class
B,
3.95%,
7/11/2030
$
685,000
$
654,280
Amur
Equipment
Finance
Receivables,
Series
2022-2A,
Class
D,
7.25%,
5/21/2029
(a)
1,000,000
1,006,502
Amur
Equipment
Finance
Receivables
LLC,
Series
2022-1A,
Class
E,
5.02%,
12/20/2028
(a)
750,000
750,470
Amur
Equipment
Finance
Receivables
XIII
LLC,
Series
2024-2A,
Class
D,
5.97%,
10/20/2031
(a)
310,000
314,425
Dell
Equipment
Finance
Trust,
Series
2024-1,
Class
D,
MTN,
6.12%,
9/23/2030
(a)
250,000
252,174
Dell
Equipment
Finance
Trust,
Series
2024-2,
Class
D,
5.29%,
2/24/2031
(a)
500,000
502,639
Enterprise
Fleet
Financing
LLC,
Series
2024-3,
Class
A4,
5.06%,
3/20/2031
(a)
500,000
506,758
Hilton
Grand
Vacations
Trust,
Series
2024-3,
Class
A,
4.98%,
8/27/2040
(a)
525,004
527,982
HPEFS
Equipment
Trust,
Series
2024-1A,
Class
D,
5.82%,
12/22/2031
(a)
1,000,000
1,007,965
HPEFS
Equipment
Trust,
Series
2024-2A,
Class
D,
5.82%,
4/20/2032
(a)
500,000
506,149
Mariner
Finance
Issuance
Trust,
Series
2024-A,
Class
A,
5.13%,
9/22/2036
(a)
2,000,000
2,015,103
NMEF
Funding
LLC,
Series
2024-A,
Class
B,
5.32%,
12/15/2031
(a)
1,000,000
1,011,713
NMEF
Funding
LLC,
Series
2024-A,
Class
A,
6.33%,
12/15/2031
(a)
500,000
509,908
Octane
Receivables
Trust,
Series
2023-3A,
Class
B,
6.48%,
7/20/2029
(a)
1,000,000
1,007,073
Octane
Receivables
Trust,
Series
2022-2A,
Class
D,
7.70%,
2/20/2030
(a)
1,000,000
1,018,019
Pagaya
AI
Debt
Grantor
Trust,
Series
2024-5A,
Class
A,
6.28%,
10/15/2031
(a)
175,774
175,904
Pagaya
AI
Debt
Grantor
Trust,
Series
2025-1,
Class
B,
5.63%,
7/15/2032
(a)
848,835
851,386
Post
Road
Equipment
Finance
LLC,
Series
2024-1A,
Class
C,
MTN,
5.81%,
10/15/2030
(a)
160,000
161,942
SCF
Equipment
Leasing
LLC,
Series
2025-1A,
Class
D,
5.88%,
11/20/2035
(a)
500,000
504,502
Towd
Point
Asset
Trust,
Series
2021-SL1,
Class
A2,
4.48%,
11/20/2061
(TSFR1M
+
81.4bps)
(a)
133,941
133,402
United
Airlines
Pass
Through
Trust,
Series
2016-2,
Class
A,
3.10%,
4/7/2030
580,805
555,794
USQ
Rail
II
LLC,
Series
2021-3,
Class
B,
2.98%,
6/28/2051
(a)
500,000
485,170
Total
Asset
Backed
Securities
(Cost $14,405,388)
14,459,260
U.S.
GOVERNMENT
&
AGENCIES
—
38.10%
Fannie
Mae,
Pool
#BP2175,
3.00%,
2/1/2035
136,492
132,310
Fannie
Mae,
Pool
#MA4915,
5.00%,
2/1/2038
515,177
520,044
Fannie
Mae,
Pool
#MA4851,
5.00%,
11/1/2042
620,829
626,748
Fannie
Mae,
Pool
#CA6707,
2.50%,
8/1/2050
767,303
658,319
Fannie
Mae,
Pool
#BT1314,
2.50%,
7/1/2051
502,520
423,258
Fannie
Mae,
Pool
#BT1339,
2.50%,
7/1/2051
1,438,965
1,207,201
Fannie
Mae,
Pool
#BT3256,
2.50%,
7/1/2051
737,303
623,227
Fannie
Mae,
Pool
#BQ7422,
2.50%,
8/1/2051
802,082
675,674
Fannie
Mae,
Pool
#CB2670,
3.00%,
1/1/2052
788,739
691,776
Yorktown
Multi-Sector
Bond
Fund
Schedule
of
Investments
(continued)
April
30,
2026
-
(Unaudited)
Principal
Amount
Fair
Value
Fannie
Mae,
Pool
#CB2668,
3.00%,
1/1/2052
$
766,251
$
672,397
Fannie
Mae,
Pool
#BU1320,
3.00%,
2/1/2052
342,861
301,175
Fannie
Mae,
Pool
#CB3177,
3.50%,
3/1/2052
761,179
694,672
Fannie
Mae,
Pool
#FS1428,
4.00%,
4/1/2052
1,346,269
1,268,738
Fannie
Mae,
Pool
#MA4624,
3.00%,
6/1/2052
FIXED
1,197,593
1,051,963
Fannie
Mae,
Pool
#BV7899,
3.00%,
8/1/2052
1,241,692
1,090,608
Fannie
Mae,
Pool
#MA4732,
4.00%,
9/1/2052
780,903
735,296
Fannie
Mae,
Pool
#CB4818,
4.00%,
10/1/2052
1,924,744
1,811,721
Fannie
Mae,
Pool
#MA4804,
4.00%,
11/1/2052
1,216,380
1,143,569
Fannie
Mae,
Pool
#CB5536,
5.00%,
1/1/2053
1,540,978
1,529,178
Fannie
Mae,
Pool
#MA4918,
5.00%,
2/1/2053
750,082
743,047
Fannie
Mae,
Pool
#MA4941,
5.00%,
3/1/2053
622,263
619,311
Fannie
Mae,
Pool
#MA5010,
5.50%,
5/1/2053
691,623
697,962
Fannie
Mae,
Pool
#MA5009,
5.00%,
5/1/2053
789,277
781,854
Fannie
Mae,
Pool
#MA5071,
5.00%,
7/1/2053
1,590,313
1,574,867
Fannie
Mae,
Pool
#MA5191,
6.00%,
11/1/2053
607,829
622,361
Fannie
Mae,
Pool
#MA5263,
4.00%,
1/1/2054
901,039
846,744
Fannie
Mae,
Pool
#MA5246,
5.50%,
1/1/2054
1,537,896
1,550,229
Fannie
Mae,
Pool
#MA5272,
6.00%,
2/1/2054
547,950
559,723
Fannie
Mae,
Pool
#MA5295,
6.00%,
3/1/2054
1,163,158
1,188,148
Fannie
Mae,
Pool
#MA5329,
6.50%,
4/1/2054
463,150
480,871
Fannie
Mae,
Pool
#MA5416,
6.50%,
5/1/2054
359,917
368,905
Fannie
Mae,
Pool
#MA5386,
4.50%,
6/1/2054
919,325
885,331
Fannie
Mae,
Pool
#MA5493,
6.00%,
8/1/2054
553,267
558,083
Fannie
Mae,
Pool
#MA5522,
6.50%,
9/1/2054
830,329
851,816
Fannie
Mae,
Pool
#MA5498,
6.00%,
10/1/2054
1,313,965
1,343,120
Fannie
Mae,
Pool
#MA5496,
5.00%,
10/1/2054
1,732,744
1,709,725
Fannie
Mae,
Pool
#MA5587,
6.00%,
1/1/2055
996,186
1,017,767
Fannie
Mae,
Pool
#MA5614,
5.50%,
2/1/2055
1,567,957
1,577,485
Fannie
Mae,
Pool
#MA5615,
6.00%,
2/1/2055
1,291,599
1,319,352
Fannie
Mae,
Pool
#MA5646,
5.50%,
3/1/2055
1,593,133
1,602,733
Fannie
Mae,
Pool
#MA5672,
5.00%,
4/1/2055
925,274
912,673
Fannie
Mae
Pool,
6.00%,
3/1/2055
1,316,796
1,345,090
Fannie
Mae
Pool,
5.50%,
6/1/2055
848,636
853,859
Fannie
Mae
Pool,
5.50%,
7/1/2055
860,275
865,459
Fannie
Mae
Pool,
5.00%,
2/1/2056
1,478,084
1,457,453
Federal
Farm
Credit
Bank,
2.13%,
5/21/2040
2,000,000
1,390,247
Federal
Farm
Credit
Bank,
2.07%,
12/21/2040
500,000
345,392
Federal
Farm
Credit
Banks
Funding
Corp.,
5.15%,
2/17/2039
2,000,000
1,979,921
Federal
Farm
Credit
Banks
Funding
Corp.,
5.24%,
9/19/2039
1,000,000
985,129
Federal
Farm
Credit
Banks
Funding
Corp.,
5.24%,
2/13/2040
1,500,000
1,486,210
Federal
Farm
Credit
Banks
Funding
Corp.,
5.63%,
3/26/2040
1,000,000
995,029
Federal
Farm
Credit
Banks
Funding
Corp.,
5.38%,
12/3/2040
1,500,000
1,485,959
Federal
Farm
Credit
Banks
Funding
Corp.,
5.42%,
12/18/2040
1,000,000
994,579
Federal
Farm
Credit
Banks
Funding
Corp.,
5.14%,
2/11/2041
1,000,000
985,492
Federal
Farm
Credit
Banks
Funding
Corp.,
5.50%,
4/20/2046
1,000,000
983,196
Federal
Home
Loan
Banks,
5.10%,
2/12/2035
1,000,000
990,918
Federal
Home
Loan
Banks,
2.01%,
7/16/2040
1,000,000
693,820
Yorktown
Multi-Sector
Bond
Fund
Schedule
of
Investments
(continued)
April
30,
2026
-
(Unaudited)
Principal
Amount
Fair
Value
Federal
Home
Loan
Banks,
5.39%,
11/26/2040
$
1,000,000
$
986,840
Federal
Home
Loan
Banks,
5.34%,
1/9/2041
1,000,000
990,921
Federal
Home
Loan
Banks,
5.32%,
1/22/2041
1,000,000
992,383
Federal
Home
Loan
Banks,
5.32%,
1/30/2041
1,000,000
993,473
Federal
Home
Loan
Banks,
5.22%,
3/5/2041
1,000,000
983,317
Federal
Home
Loan
Banks,
5.22%,
3/18/2041
1,000,000
990,074
Federal
Home
Loan
Banks,
5.30%,
3/25/2041
1,000,000
991,622
Federal
Home
Loan
Banks,
5.50%,
9/25/2042
1,000,000
989,206
Federal
Home
Loan
Banks,
5.50%,
11/25/2044
1,000,000
990,329
Federal
Home
Loan
Banks,
5.55%,
3/10/2045
1,000,000
991,930
Federal
Home
Loan
Mortgage
Corp.,
1.75%,
7/27/2035
1,500,000
1,176,179
Freddie
Mac,
Pool
#RD5138,
5.00%,
1/1/2033
344,558
348,336
Freddie
Mac,
Pool
#SB8509,
2.00%,
1/1/2036
464,583
427,628
Freddie
Mac,
Pool
#QO0931,
4.00%,
10/1/2037
444,475
433,497
Freddie
Mac,
Pool
#RB5135,
2.00%,
10/1/2041
1,361,267
1,182,198
Freddie
Mac,
Pool
#RB5182,
4.00%,
9/1/2042
662,566
645,518
Freddie
Mac,
Pool
#RA2314,
3.50%,
3/1/2050
261,167
240,434
Freddie
Mac,
Pool
#RA2657,
3.50%,
5/1/2050
572,925
527,382
Freddie
Mac,
Pool
#SD0430,
2.50%,
8/1/2050
484,514
414,004
Freddie
Mac,
Pool
#QC3907,
2.50%,
7/1/2051
648,325
554,668
Freddie
Mac,
Pool
#QC5859,
3.00%,
8/1/2051
683,547
600,525
Freddie
Mac,
Pool
#RA6945,
3.50%,
3/1/2052
2,244,171
2,047,980
Freddie
Mac,
Pool
#SD8257,
4.50%,
10/1/2052
768,721
743,152
Freddie
Mac,
Pool
#SD8267,
5.00%,
11/1/2052
1,526,725
1,516,211
Freddie
Mac,
Pool
#SD8288,
5.00%,
1/1/2053
775,500
768,367
Freddie
Mac,
Pool
#QF5251,
5.50%,
1/1/2053
662,851
669,322
Freddie
Mac,
Pool
#SD8297,
4.00%,
2/1/2053
1,661,671
1,560,179
Freddie
Mac,
Pool
#SD2334,
5.00%,
2/1/2053
797,992
791,412
Freddie
Mac,
Pool
#SD8305,
4.00%,
3/1/2053
817,751
767,952
Freddie
Mac,
Pool
#SD2642,
5.50%,
4/1/2053
810,099
821,437
Freddie
Mac,
Pool
#SD8323,
5.00%,
5/1/2053
797,722
791,080
Freddie
Mac,
Pool
#SD8322,
4.50%,
5/1/2053
813,568
785,279
Freddie
Mac,
Pool
#SD8323,
5.00%,
5/1/2053
791,337
783,936
Freddie
Mac,
Pool
#SD2856,
5.50%,
5/1/2053
707,354
715,010
Freddie
Mac,
Pool
#QG3333,
5.00%,
5/1/2053
1,479,500
1,470,146
Freddie
Mac,
Pool
#SD8348,
5.00%,
8/1/2053
806,504
798,338
Freddie
Mac,
Pool
#QG9607,
6.00%,
9/1/2053
1,334,121
1,364,109
Freddie
Mac,
Pool
#SD8383,
5.50%,
12/1/2053
2,252,048
2,271,828
Freddie
Mac,
Pool
#QH8694,
6.00%,
1/1/2054
993,733
1,018,275
Freddie
Mac,
Pool
#SD5380,
5.50%,
4/1/2054
762,657
768,773
Freddie
Mac,
Pool
#MA5416,
5.50%,
6/1/2054
728,546
732,938
Freddie
Mac,
Pool
#MA5416,
6.00%,
7/1/2054
577,310
589,378
Freddie
Mac,
Pool
#SD8454,
6.00%,
8/1/2054
593,000
605,741
Freddie
Mac,
Pool
#SD8469,
5.50%,
10/1/2054
766,473
771,093
Freddie
Mac,
Pool
#RE6151,
6.00%,
11/1/2054
561,681
567,082
Freddie
Mac,
Pool
#SD8516,
6.00%,
3/1/2055
659,408
673,577
Freddie
Mac
Pool,
6.00%,
11/1/2054
657,596
672,071
Freddie
Mac
Pool,
5.00%,
11/1/2054
1,759,330
1,735,710
Yorktown
Multi-Sector
Bond
Fund
Schedule
of
Investments
(continued)
April
30,
2026
-
(Unaudited)
Principal
Amount
Fair
Value
Freddie
Mac
Pool,
4.50%,
11/1/2054
$
1,863,424
$
1,796,242
Freddie
Mac
Pool,
5.50%,
12/1/2054
1,612,424
1,622,308
Freddie
Mac
Pool,
5.50%,
1/1/2055
1,593,296
1,602,982
Freddie
Mac
Pool,
5.50%,
2/1/2055
2,350,990
2,365,156
Freddie
Mac
Pool,
5.50%,
4/1/2055
1,601,723
1,611,375
Freddie
Mac
Pool,
5.00%,
9/1/2055
2,394,680
2,362,433
Freddie
Mac
Pool,
5.50%,
10/1/2055
1,795,909
1,806,731
Freddie
Mac
Pool,
5.00%,
10/1/2055
960,197
947,092
Freddie
Mac
Pool,
5.50%,
1/1/2056
1,987,924
1,999,652
Freddie
Mac
Pool,
5.00%,
2/1/2056
1,967,300
1,939,841
UMBS
Fannie
Mae
Pool,
5.50%,
3/1/2054
1,198,343
1,207,036
UMBS
Fannie
Mae
Pool,
5.00%,
12/1/2054
890,461
878,562
UMBS
Fannie
Mae
Pool,
5.50%,
10/1/2055
2,221,725
2,235,114
UMBS
Fannie
Mae
Pool,
4.50%,
11/1/2055
1,464,549
1,410,040
UMBS
Fannie
Mae
Pool,
5.00%,
3/1/2056
1,982,665
1,954,992
UMBS
Fannie
Mae
Pool,
5.00%,
4/1/2056
2,492,168
2,457,447
United
States
Treasury
Note,
4.88%,
10/31/2028
3,000,000
3,068,672
United
States
Treasury
Note,
4.00%,
2/15/2034
3,000,000
2,947,441
Total
U.S.
Government
&
Agencies
(Cost $135,095,195)
132,971,690
COLLATERALIZED
LOAN
OBLIGATIONS
—
2.66%
Benefit
Street
Partners
CLO
Ltd.,
Series
2022-29A,
Class
BR,
5.17%,
1/25/2038
(TSFR3M
+
150bps)
(a),(b)
1,000,000
1,000,578
Benefit
Street
Partners
CLO
XXV
Ltd.,
Series
21-25A,
Class
CR,
5.32%,
1/15/2035
(TSFR3M
+
165bps)
(a),(b)
1,000,000
1,000,870
Caryle
US
CLO
Ltd.,
Series
2017-3,
Class
BR2,
5.45%,
10/21/2037
(TSFR3M
+
178bps)
(a),(b)
1,000,000
1,001,663
Hildene
TruPS
Financials
Note
Secruitization,
Series
2019-2A,
Class
A1,
5.69%,
5/22/2039
(SOFR
+
176.0bps)
(a),(b)
1,513,659
1,513,899
Madison
Park
Funding
LXVII
Ltd.,
Series
67A,
Class
B,
5.72%,
4/25/2037
(TSFRM
+
205.0bps)
(a),(b)
1,000,000
1,001,736
Neuberger
Berman
CLO
XXI
Ltd.,
Series
2024-21A,
Class
BR3,
5.37%,
1/20/2039
(TSFR3M
+
170bps)
(a),(b)
1,000,000
999,981
Oaktree
CLO
Ltd.,
Series
2019-3,
5.26%,
1/20/2038
(TSFR3M
+
138bps)
(a),(b)
1,000,000
998,853
Rockford
Tower
CLO
Ltd.,
Series
2019-2,
Class
CR2,
5.66%,
8/20/2032
(TSFR3M
+
200bps)
(a),(b)
1,000,000
1,000,116
Venture
CLO
Ltd.,
Series
2018-31A,
Class
C1,
5.89%,
4/20/2031
(TSFR3M
+
221.2bps)
(a),(b)
750,000
750,601
Total
Collateralized
Loan
Obligations
(Cost $9,247,723)
9,268,297
Yorktown
Multi-Sector
Bond
Fund
Schedule
of
Investments
(continued)
April
30,
2026
-
(Unaudited)
H15T5Y—
5
Year
Treasury
Rate
MTN—
Medium
Term
Note
SOFR
—
Secured
Overnight
Financing
Rate
SOFRIX
—
Secured
Overnight
Financing
Rate
Index
TSFR3M
—
Term
Secured
Overnight
Finance
Rate
(3
Month)
TSFR1M
—
Term
Secured
Overnight
Finance
Rate
(1
Month)
USISSO05
—
5
Year
Secured
Overnight
Financing
Rate-linked
interest
rate
swap
rate
USISDA05
—
5
Year
Secured
Overnight
Financing
Rate-linked
mid-market
interest
rate
swap
rate
USSW5
—
USD
5
Year
Swap
Rate
Shares
Fair
Value
INVESTMENT
COMPANIES
—
2.76%
Exchange-Traded
Funds
—
2.76%
iShares
Convertible
Bond
ETF
20,000
$
2,254,200
iShares
iBoxx
$
High
Yield
Corporate
Bond
ETF
10,000
803,800
iShares
iBoxx
$
Investment
Grade
Corporate
Bond
14,000
1,523,900
iShares
US
Preferred
Stock
ETF
32,000
1,006,400
SPDR
Bloomberg
Barclays
Convertible
Securities
ETF
20,000
2,020,800
Vanguard
Emerging
Markets
Government
Bond
ETF,
USD
Class
30,000
2,007,900
9,617,000
Total
Investment
Companies
(Cost $8,960,880)
9,617,000
Total
Investments
—
94.20%
(Cost
$333,511,244)
328,709,857
Other
Assets
in
Excess
of
Liabilities
—
5.80%
20,247,020
Net
Assets
—
100.00%
$
348,956,877
(a)
Security
exempt
from
registration
under
Rule
144A
or
Section
4(2)
of
the
Securities
Act
of
1933.
The
security
may
be
resold
in
transactions
exempt
from
registration,
normally
to
qualified
institutional
buyers.
The
total
fair
value
of
these
securities
as
April
30,
2026
was
$65,644,819,
representing
18.81%
of
net
assets.
(b)
Variable
rate
security.
Interest
rate
resets
periodically.
The
rate
shown
is
the
effective
interest
rate
as
of
April
30,
2026.
For
securities
based
on
a
published
reference
rate
and
spread,
the
reference
rate
and
spread
(in
basis
points)
are
indicated
parenthetically.
Certain
variable
rate
securities
are
not
based
on
a
published
reference
rate
and
spread
but
are
determined
by
the
issuer
or
agent
and
are
based
on
current
market
conditions.
These
securities,
therefore,
do
not
indicate
a
reference
rate
and
spread.
Yorktown
Small
Cap
Fund
Schedule
of
Investments
April
30,
2026
-
(Unaudited)
+
Shares
Fair
Value
COMMON
STOCKS
—
97.36%
Communications
—
0.55%
Grab
Holdings
Ltd.,
Class
A
(a)
52,000
$
198,640
Consumer
Discretionary
—
9.58%
Boot
Barn
Holdings,
Inc.
(a)
2,550
437,198
Boyd
Gaming
Corp.
2,700
234,765
Cavco
Industries,
Inc.
(a)
800
405,600
DraftKings,
Inc.,
Class
A
(a)
9,960
232,267
FirstCash
Holdings,
Inc.
2,650
578,283
Group
1
Automotive,
Inc.
690
246,240
Interface,
Inc.
7,225
201,433
Liquidity
Services,
Inc.
(a)
4,600
163,990
SharkNinja
,
Inc.
(a)
3,500
404,355
Texas
Roadhouse,
Inc.
1,330
214,117
Universal
Technical
Institute,
Inc.
(a)
8,450
317,128
3,435,376
Consumer
Staples
—
2.97%
Chefs'
Warehouse,
Inc.
(The)
(a)
7,050
547,080
Lamb
Weston
Holdings,
Inc.
7,200
313,560
Performance
Food
Group
Co.
(a)
2,250
203,760
1,064,400
Energy
—
2.98%
Kodiak
Gas
Services
Inc
7,500
508,500
Range
Resources
Corp.
5,400
234,900
Select
Water
Solutions,
Inc.,
Class
A
19,450
325,399
1,068,799
Financials
—
14.37%
Axos
Financial,
Inc.
(a)
6,000
578,640
Bancorp,
Inc.
(The)
(a)
4,300
257,269
BitMine
Immersion
Technologies,
Inc.
16,400
350,960
Dave
Inc
(a)
1,750
475,982
Enova
International,
Inc.
(a)
2,250
381,173
Freedom
Holding
Corp.
(a)
3,700
554,371
LPL
Financial
Holdings,
Inc.
1,150
384,249
Marex
Group
PLC
(a)
5,900
314,765
Palomar
Holdings,
Inc.
(a)
2,000
240,760
Seacoast
Banking
Corp.
of
Florida
9,250
291,097
SmartFinancial
,
Inc.
(a)
6,750
283,095
StoneX
Group,
Inc.
(a)
4,950
524,849
UMB
Financial
Corporation
2,100
264,957
Velocity
Financial,
Inc.
(a)
13,000
250,770
5,152,937
Health
Care
—
11.41%
ACADIA
Pharmaceuticals,
Inc.
(a)
12,050
270,522
Axsome
Therapeutics,
Inc.
(a)
1,900
394,725
Beam
Therapeutics,
Inc.
(a)
12,800
388,224
Bridgebio
Pharma,
Inc.
(a)
3,250
231,107
Yorktown
Small
Cap
Fund
Schedule
of
Investments
(continued)
April
30,
2026
-
(Unaudited)
Shares
Fair
Value
Ensign
Group,
Inc.
(The)
2,100
$
392,049
Glaukos
Corporation
(a)
2,850
409,460
Guardant
Health,
Inc.
(a)
8,850
770,658
Insmed
,
Inc.
(a)
4,175
569,178
iRadimed
Corporation
(a)
2,250
187,740
Mirum
Pharmaceuticals,
Inc.
(a)
2,550
248,141
TransMedics
Group
Inc
(a)
2,300
231,817
4,093,621
Industrials
—
26.58%
AAR
Corporation
(a)
2,750
303,517
AeroVironment,
Inc.
(a)
1,994
388,870
Argan,
Inc.
670
448,887
AZZ,
Inc.
3,750
536,400
Badger
Meter,
Inc.
1,650
199,501
Cactus,
Inc.,
Class
A
6,950
387,254
CECO
Environmental
Corp.
(a)
3,200
237,248
Construction
Partners,
Inc.,
Class
A
(a)
4,800
593,568
CSW
Industrials,
Inc.
1,300
378,560
Dycom
Industries,
Inc.
(a)
850
351,985
ESCO
Technologies,
Inc.
1,100
356,345
Gorman-Rupp
Company
(The)
4,300
325,682
Herc
Holdings,
Inc.
1,700
215,764
IES
Holdings,
Inc.
(a)
940
605,435
Installed
Building
Products,
Inc.
1,600
461,680
Itron
,
Inc.
(a)
3,000
251,400
Kadant
,
Inc.
1,425
417,710
Mueller
Industries,
Inc.
4,600
622,978
Napco
Security
Technologies
Inc
(a)
9,900
462,825
Primoris
Services
Corp.
2,050
371,358
RBC
Bearings,
Inc.
(a)
970
581,117
SPX
Technologies,
Inc.
(a)
1,550
339,311
V2X,
Inc.
(a)
5,400
366,174
WESCO
International,
Inc.
950
331,664
9,535,233
Materials
—
4.08%
Balchem
Corp.
2,500
404,050
Eagle
Materials,
Inc.
980
205,908
Hawkins,
Inc.
2,050
343,272
Ramaco
Resources,
Inc.,
Class
A
(a)
19,150
284,378
United
States
Lime
&
Minerals,
Inc.
2,100
226,107
1,463,715
Real
Estate
—
1.40%
Hannon
Armstrong
Sustainable
Infrastructure
12,000
503,400
Technology
—
23.44%
ACM
Research,
Inc.,
Class
A
(a)
13,300
687,477
Alignment
Healthcare,
Inc.
(a)
12,300
277,242
Allegro
Microsystems,
Inc.
(a)
11,300
548,050
Appfolio
,
Inc.,
Class
A
(a)
1,950
325,825
Yorktown
Small
Cap
Fund
Schedule
of
Investments
(continued)
April
30,
2026
-
(Unaudited)
Shares
Fair
Value
Applied
Optoelectronics,
Inc.
(a)
2,350
$
386,246
Calix,
Inc.
(a)
9,000
392,040
Credo
Technology
Group
Holding
Ltd.
(a)
2,650
461,126
D-Wave
Quantum,
Inc.
(a)
13,100
265,668
IonQ
,
Inc.
(a)
18,700
843,744
IREN
Ltd.
(a)
9,450
430,070
NCR
Atleos
Corp.
(a)
10,400
461,552
Nova
Ltd.
(a)
1,240
620,533
Pagseguro
Digital
Ltd.,
Class
A
(a)
37,800
378,756
Palo
Alto
Networks,
Inc.
(a)
2,090
374,779
PDF
Solutions,
Inc.
(a)
9,550
409,217
Planet
Labs
PBC,
CLASS
A
(a)
9,650
356,761
Rambus,
Inc.
(a)
4,950
569,795
TTM
Technologies,
Inc.
(a)
2,800
443,016
UiPath,
Inc.,
Class
A
(a)
17,250
177,675
8,409,572
Total
Common
Stocks
(Cost $24,104,437)
34,925,693
Total
Investments
—
97.36%
(Cost
$24,104,437)
34,925,693
Other
Assets
in
Excess
of
Liabilities
—
2.64%
945,216
Net
Assets
—
100.00%
$
35,870,909
(a)
Non-income
producing
security.