Schedule of Investments

May 31, 2026 (unaudited)

Archer Balanced Fund

Shares or Principal

Security Description

Amount ($)

Fair Value ($)(1)

Common Stocks - 70.81%

Air Courier Services - 2.20%

FedEx Corp.

3,250

1,338,188

Aircraft Engines & Engines Parts - 2.12%

Honeywell International, Inc.

5,000

1,189,300

Solstice Advanced Materials, Inc.

1,250

105,288

1,294,588

Beverages - 0.95%

The PepsiCo, Inc.

4,000

576,760

Electric Services - 3.26%

American Electric Power Co., Inc.

3,400

430,678

NextEra Energy, Inc.

17,900

1,557,479

1,988,157

Electrical Work - 5.25%

Quanta Services, Inc.

4,500

3,202,785

Electronic Computers - 3.17%

Apple, Inc.

6,200

1,934,772

Food & Kindred Products - 0.82%

Nestle S.A. ADR

4,900

497,056

Guided Missiles & Space Vehicles & Parts - 2.22%

Lockheed Martin Corp.

2,550

1,352,648

Hospital & Medical Service Plans - 1.48%

UnitedHealth Group, Inc.

2,375

903,236

Laboratory Analytical Instruments - 0.33%

Waters Corp. (2)

530

203,292

National Commercial Banks - 3.62%

Citigroup, Inc.

4,000

503,600

JPMorgan Chase & Co.

5,700

1,706,067

2,209,667

Petroleum Refining - 2.39%

Chevron Corp.

4,000

729,840

Exxon Mobil Corp.

5,000

726,300

1,456,140

Pharmaceutical Preparations - 8.23%

Bristol-Myers Squibb Co.

8,550

488,889

Eli Lilly and Co.

1,450

1,602,250

Johnson & Johnson

5,000

1,126,650

Merck & Co., Inc.

9,080

1,077,978

Pfizer, Inc.

27,500

719,950

5,015,717

Railroads, Line-Haul Operating - 1.98%

Union Pacific Corp. Class B

4,600

1,208,144

Retail-Drug Stores and Proprietary Stores - 1.60%

CVS Health Corp.

10,694

972,940

Retail-Lumber & Other Building Materials Dealers - 1.14%

The Home Depot, Inc.

2,200

697,708

Retail-Variety Stores - 2.24%

Walmart, Inc.

11,800

1,365,850

Semiconductors & Related Devices - 6.24%

Broadcom, Inc.

7,800

3,484,806

NVIDIA Corp.

1,500

316,710

3,801,516

Services-Business Services - 2.55%

MasterCard, Inc. Class A

3,150

1,556,037

Services-Computer Programming, Data Processing, Etc. - 9.28%

Alphabet, Inc. Class A

8,600

3,270,924

Meta Platforms, Inc. Class A  

3,775

2,387,725

5,658,649

Services-Medical Laboratories - 0.92%

Laboratory Corp. of America Holdings  

2,150

559,129

Services-Miscellaneous Amusement & Recreation - 1.17%

The Walt Disney Co. (2)

7,000

712,810

Services-Prepackaged Software - 4.68%

Adobe, Inc.

2,250

583,223

Microsoft Corp.

5,035

2,266,958

2,850,181

Ship & Boat Building & Repairing - 2.02%

Huntington Ingalls Industries, Inc.

4,000

1,232,680

Surgical & Medical Instruments & Apparatus - 0.95%

Becton Dickinson & Co.

3,920

576,710

Total Common Stock

(Cost $         15,732,820)

43,165,359

Real Estate Investment Trusts - 3.62%

Extra Space Storage, Inc.

5,900

851,429

Prologis, Inc.

9,452

1,356,078

Total Real Estate Investment Trusts

(Cost $              996,860)

2,207,507

Corporate Bonds - 15.25%   (4)

Air-Conditioning, Heating Equipment, and Commercial & Industrial Refrigeration Equipment - 0.41%

Johnson Controls International, plc, 4.900%, 12/1/32

250,000

250,852

Air Transportation, Scheduled - 0.54%

American Airlines, 3.950%, due 7/11/30

342,500

328,431

Civil, Social, and Fraternal Associations - 0.39%

Local Initiatives Support Corp., 4.649%, 3/1/37

250,000

235,003

Commercial Banks - 0.49%

Royal Bank of Canada, 5.000%, 7/21/32

300,000

297,444

Consumer Cyclical Services - 1.03%

American Medical College, 3.017%, 10/1/35

250,000

214,390

Prime Healthcare Foundation Series B, 7.000%, due 12/1/27

400,000

412,060

626,449

Consumer Products - 0.09%

YMCA of Greater NY, 3.160%, 8/1/31

60,000

53,259

Crude Petroleum & Natural Gas - 0.38%

Concho Resources, Inc., 3.750%, 10/01/27

236,000

233,075

Electric Services - 1.20%

Arizona Public Service, 5.500%, 9/1/35

200,000

201,648

Empire District Electric Co., 6.700%, 11/15/33

500,000

532,811

734,458

Financial Services - 1.14%

Ford Motor Credit Co. LLC., 5.700%, due 9/20/34

350,000

343,238

Ford Motor Credit Co. LLC., 5.450%, 2/20/28

350,000

348,919

692,157

General Building Contractors - Residential Buildings - 0.25%

Lennar Corp., 4.750%, due 11/29/27

150,000

150,324

Heating Equip, Except Elec & Warm Air; & Plumbing Fixtures - 0.88%

Masco Corp., 7.750%, 8/1/29

500,000

536,311

Motor Vehicles & Passenger Car Bodies - 0.22%

General Motors Financial Co., Inc., 3.100%, 1/12/32

150,000

135,775

National Commercial Banks - 2.60%

Bank of America Corp., 5.200%, due 12/5/31

250,000

247,229

Bank of Montreal, 5.100%, due 10/18/34

250,000

246,146

Goldman Sachs Group, Inc., 5.000%, 4/2/31

500,000

496,576

JPMorgan Chase & Co. Series B, 4.425, due 02/01/27 (3-month US Libor + .50%)

150,000

149,149

Truist Financial Corp. Series M, 5.125%, to 12/15/27

150,000

148,924

US Bancorp, 3.70%, 01/15/2027

300,000

296,504

1,584,527

Natural Gas Transmission - 0.42%

Northern Illinois Gas Co., 5.900%, due 12/1/32

250,000

254,915

Paper Mills - 0.69%

Georgia-Pacific, LLC., 7.250%, 6/1/28

400,000

421,459

Security Brokers, Dealers & Flotation Companies - 1.65%

Goldman Sachs Group, Inc. Series MTN, 4.800%, 2/11/33

400,000

391,414

Jefferies Financial Group, Inc., 6.500%, 4/30/35

300,000

291,449

Morgan Stanley Series MTN, 3.872%, 5/29/30

375,000

322,500

1,005,363

Services-Computer Programming, Data Processing, Etc. - 0.37%

Factset Research Systems, Inc.,3.450%, 3/1/32

250,000

226,581

Services-Equipment Rental & Leasing, NEC - 0.73%

Air Lease Corp., 3.625%, due 12/1/27

200,000

197,201

United Rentals, Inc., 3.875%, due 11/15/27

250,000

247,398

444,598

Services-Prepackaged Software - 0.66%

Salesforce, Inc., 5.200%, 3/15/2033

400,000

402,243

State Commercial Banks - 0.40%

Deutsche Bank, 5.150%, 9/15/34

250,000

244,971

Telephone Communications (No Radio Telephone) - 0.72%

AT&T Inc., 7,125%, 12/15/31

400,000

437,183

Total Corporate Bonds

(Cost $         904,728)

9,295,381

Municipal Bonds - 3.58%    (4)

California - 0.03%

Porterville Unified School District, 7.250%, due 7/1/27

20,000

20,045

Georgia - 0.17%

Georgia Loc. Govt., 4.750%, due 6/1/28

99,000

100,956

Illinois - 0.58%

Illinois Build America Bond, 7.350%, 07/01/2035

25,000

27,007

Saint Clair County IL School District #187, 5.169%, 01/01/31

75,000

76,272

Village of Rosemont, 6.600%, due 12/01/2030

90,000

91,152

Village of Rosemont, 6.750%, due 12/01/2035

150,000

156,856

351,286

Indiana - 1.08%

Evansville-Vanderburgh, IN School Bldg. Corp. Series B, 6.150%, due 7/15/27

135,000

135,223

Fishers, IN Econ Development Revenue Taxable-P3 Project, 2.650%, due 8/1/28

190,000

184,005

Indiana State Fin Auth Rev Senior Living, 2.920 %, 11/15/2027

355,000

339,468

658,696

Michigan - 0.41%

City of Coldwater, MI Water Supply & Wastewater System Revenue, 5.000%, due 8/1/26

25,000

25,091

Michigan State Taxable School Loan Series A, 3.200%, due 5/15/27

227,500

225,832

250,923

Ohio - 0.42%

New Albany, Floyd County Industry School First Mortgage, 5.000%, due 1/15/27

250,000

253,292

Pennsylvania - 0.72%

East-Norriton-Plymouth-Whipain Joint Sewer Authority, 1.832%, due 8/1/28

250,000

236,948

Pennsylvania ST Taxable-Ref-First Refunding Series, 1.200%, due 8/1/26

200,000

199,072

436,019

Wisconsin - 0.18%

Greendale, WI Taxable Community Development, Series A, 4.750%, due 12/1/26

110,000

110,054

Total Municipal Bonds

(Cost $           2,297,342)

2,181,271

Preferred Securities - 1.13%   (4)

Asset Management - 0.16%

B Riley Financial, Inc., 6.50%, due 9/30/26

4,000

100,000

Motor Vehicles & Passenger Car Bodies - 0.20%

Ford Motor Co., 6.000%, due 12/1/59

6,000

122,280

National Commercial Banks - 0.67%

BAC Capital Trust XIII Series F, 4.960%, 03/15/43

150,000

111,961

Huntington Bancshares, Inc. Series G, 4.450%, 10/15/27

150,000

148,013

PNC Capital Trust C, 3.090%, due 06/01/2028

150,000

148,154

408,128

Telephone Communications (No Radio Telephone) - 0.10%

QWest Corp., 6.500%, due 9/1/56

3,000

58,200

Total Preferred Securities

(Cost $              767,125)

688,608

Structured Notes - 0.81%   (4)

Banks - 0.49%

Citigroup, Inc., 1.393%, 3/12/34

400,000

296,712

Security Brokers, Dealers & Flotation Companies - 0.32%

Goldman Sachs Group, Inc., 2.013%, 11/13/28

125,000

113,513

Morgan Stanley Series MTN, 2.988%, due 8/30/28

95,000

84,510

198,023

Total Structured Note

(Cost $              447,846)

494,735

US Government - 1.20%   

U.S. Government Treasury Bill, 3.875%, 8/15/33

750,000

730,020

Total US Government

(Cost $              705,264)

730,020

Money Market Registered Investment Companies - 3.22%

Federated Treasury Obligation Fund - Institutional Shares - 3.45% (3)

1,961,625

1,961,625

Total Money Market Registered Investment Companies

(Cost $           1,961,625)

1,961,625

Total Investments - 99.62%

(Cost $         32,403,573)

60,724,506

Other Assets Less Liabilities - 0.38%

232,288

Total Net Assets - 100.00%

60,956,794

(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 29, 2026 in valuing the Fund's assets carried at fair value:

Investments in

Other Financial

Valuation Inputs

Securities

Instruments

Level 1 - Quoted Prices

$

47,614,972

$

-

Level 2 - Other Significant Observable Inputs

13,109,534

-

Level 3 - Significant Unobservable Inputs

-

-

Total

$

60,724,506

$

-

       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, 2026.

(4) All Corporate Bonds, Municipal Bonds, Preferred Securities and Structured Notes are categorized as Level 2 of the fair value hierarchy.

ADR - American Depository Receipt

LIBOR- London Inter-Bank Offer Rate, which is an international interest rate benchmark that almost all banks use as reference to set their funding​ costs.