USA MUTUALS ALL SEASONS FUND
SCHEDULE OF INVESTMENTS (Unaudited)
June 30, 2026
 
Contracts(a)              
    FUTURE OPTIONS PURCHASED - 0.0% (b) Broker/Counterparty Expiration Date Exercise Price Notional Value Fair Value
    PUT OPTIONS PURCHASED - 0.0%(b)      
2   S&P 500 E-Mini Index(c) ADM 07/02/2026 $ 7,375 $ 737,500 $ 300
    TOTAL PUT OPTIONS PURCHASED (Cost $1,100)  
         
    TOTAL FUTURE OPTIONS PURCHASED (Cost $1,100)                                     300     
           
    TOTAL INVESTMENTS - 0.0%(b) (Cost $1,100)     $ 300
    OTHER ASSETS IN EXCESS OF LIABILITIES - 100.0%    

11,104,649

    NET ASSETS - 100.0%        

$ 11,104,949

           
         

(a) Each contract allows the holder to buy/sell 50 shares of the underlying security at the exercise price.

(b) Percentage rounds to less than 0.1%.

      

(c) Non-income producing security.

 

      
ADM     ADM Investor Services, Inc.        
         
OPEN FUTURES CONTRACTS        
Number of Contracts   Open Long Futures Contracts   Broker/Counterparty Expiration Notional Amount(*) Value and Unrealized Appreciation
2   CME E-Mini Standard & Poor's 500 Index Future ADM   09/21/2026 $ 754,825 $ 5,150
    TOTAL FUTURES CONTRACTS  

 

 

 

 

 

 

 

(*) The amounts shown are the underlying reference notional amounts to stock exchange indices and equities upon which the fair value of the futures contracts held by the Fund are based.  Notional values do not represent the current fair value of, and are not necessarily indicative of the future cash flows of the Fund's futures contracts.  Further, the underlying price changes in relation to the variables specified by the notional values affects the fair value of these derivative financial instruments.  The notional values as set forth within this schedule do not purport to represent economic value at risk to the Fund.