NPORT-EX 2 321.htm CFS_321_20230930_20231031142917353.pdf

RULE ONE FUND

Schedule of Investments

September 30, 2023 (unaudited)

72.80%

COMMON STOCKS

 

Shares

 

Fair Value

 

 

 

 

14.41%

COMMUNICATION SERVICES

 

 

 

 

 

Activision Blizz . . . . . . . . . . . . . . . . . . . . . .

. . .

232,000

$ 21,722,160

3.61%

CONSUMER DISCRETIONARY

 

 

 

 

 

Sturm, Ruger & Co., Inc. . . . . . . . . . . . . . . . . .

104,447

5,443,778

6.93%

CONSUMER STAPLES

 

 

 

 

 

Sprouts Farmers Market, Inc. (a) . . . . . . . . . . .

175,000

7,490,000

 

Tyson Foods, Inc. Class A . . . . . . . . . . . . .

. . .

58,500

2,953,665

 

 

 

 

 

10,443,665

4.52%

ENERGY

 

 

 

 

 

Occidental Petroleum Corp . . . . . . . . . . .

. . .

105,000

6,812,400

13.22%

FINANCIALS

 

 

 

 

 

Bank of America Corp. . . . . . . . . . . . . . . .

. . .

100,000

2,738,000

 

Bank OZK . . . . . . . . . . . . . . . . . . . . . . . . . .

. . .

416,269

15,431,092

 

Capital One Financial Corp. . . . . . . . . . . .

. . .

18,000

1,746,900

 

 

 

 

 

19,915,992

4.48%

INDUSTRIALS

 

 

 

 

 

Huntington Ingalls Industries, Inc. . . . . . .

. . .

33,000

6,751,140

18.29%

MEDIA & ENTERTAINMENT

 

 

 

 

 

Netflix, Inc. (a) . . . . . . . . . . . . . . . . . . . . . . . . . . .

73,000

27,564,800

7.34%

TECHNOLOGY

 

 

 

 

 

HP Inc. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

. . .

43,300

1,112,810

 

Alphabet, Inc. Class A (a) . . . . . . . . . . . . . .

. . .

76,000

9,945,360

 

 

 

 

 

11,058,170

72.80%

. . . .TOTAL COMMON STOCKS . . . . . . .

. . . . . .

. . . . . . . . . . . . .

109,712,105

6.88%

EXCHANGE TRADED FUND

 

 

 

 

 

iShares Silver Trust ETF (a) . . . . . . . . . . . . .

. . .

50,000

1,017,000

 

SPDR Gold Shares (a) . . . . . . . . . . . . . . . . .

. . .

20,000

3,429,000

 

VanEck Vecors Gold Miners ETF . . . . . . .

. . .

220,000

5,920,200

 

 

 

 

 

10,366,200

6.88%

. . .TOTAL EXCHANGE TRADED FUND

. . . . . .

. . . . . . . . . . . . .

 

10,366,200

1

QUARTERLY REPORT

RULE ONE FUND

Schedule of Investments - continued

September 30, 2023 (unaudited)

19.27%

 

MONEY MARKET FUNDS

 

 

 

 

Shares

 

 

 

Fair Value

 

 

 

 

 

 

 

 

 

 

 

 

 

Federated Government Obligations Fund

 

 

 

 

 

 

 

 

Institutional Class 5.20% (b) . . . . . . . . . .

. . . 29,048,772

$

29,048,789

 

5.49%

 

PURCHASED OPTIONS

 

 

 

 

 

 

 

 

 

 

1.87%

CALL OPTIONS

Number

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

of

 

Notional

Exercise

Expiration

 

 

 

 

 

 

 

Description

Contracts

 

Amount

Price

Date

 

 

 

Value

 

 

Tyson Foods . .

1,200

$

6,058,800

$ 27.50

1/16/2025

$

2,820,000

 

3.62%

 

PUT OPTIONS

 

 

 

 

 

 

 

 

 

 

 

 

 

Invesco QQQ

 

 

 

 

 

 

 

 

 

 

 

 

 

Trust . . . . . .

2,248

$

80,539,096

$ 280.00

6/19/2025

$

2,623,416

 

 

 

S&P 500

 

 

 

 

 

 

 

 

 

 

 

 

 

Index . . . . .

284

121,780,620

3,350.00

6/19/2025

 

 

 

2,827,220

 

 

 

The Boeing

 

 

 

 

 

 

 

 

 

5,200

 

 

 

Co. . . . . . . .

100

 

1,916,800

170.00

10/20/2023

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

5,455,836

 

5.49%

 

. . . . . . . . .TOTAL PURCHASED OPTIONS

. . . . . . .

. . . .

. . . . . . . . . . .

 

 

 

8,275,836

 

 

 

 

 

 

 

 

 

 

 

 

 

`

 

104.44%

TOTAL INVESTMENTS . . . .

. . . . . . . . . . . . .

. . . . . . .

. . . .

. . . . . . . . . . .

157,402,930

 

-4.44%

 

Other assets, net of liabilities . . . . . . . . . . . .

. . . . . . .

. . . .

. . . . . . . . . . .

 

 

 

(6,693,960)

100.00%

. . .NET ASSETS

. . . . . . . . . .

. . . . . . . . . . . . .

. . . . . . .

. . . .

. . . . . . . . . . .

 

 

$150,708,970

 

(a)Non-income producing

(b)Effective 7 day yield as of September 30, 2023

2

QUARTERLY REPORT

RULE ONE FUND

Schedule of Investments - continued

September 30, 2023 (unaudited)

(0.53%)

 

OPTIONS WRITTEN

 

 

 

 

 

 

 

 

(0.53%)

CALL OPTIONS

 

 

 

 

 

 

 

 

 

 

 

 

Number

 

 

 

 

 

 

 

 

 

 

 

of

 

Notional

Exercise

Expiration

 

 

 

 

 

Description

Contracts

 

Amount

 

Price

Date

 

Value

 

 

Activision

 

 

 

 

 

 

 

 

 

 

 

Blizzard . . .

2,320

$

21,722,160

$

95.00

1/16/2025

$

(51,040)

 

 

Bank of America

 

 

 

 

 

 

 

 

 

 

 

Co. . . . . . . . .

1,000

 

2,738,000

 

28.50

10/6/2023

 

(5,000)

 

 

Netflix Inc. . . .

230

 

8,684,800

 

500.00

5/14/1901

 

(415,150)

 

 

Tyson Foods .

600

 

3,029,400

 

50.00

6/21/2024

 

(324,000)

 

 

. . . . . . . .TOTAL CALL OPTIONS WRITTEN

. .

. . . . . . . .

. . . . . . . . . . .

$

(795,190)

 

 

 

PUT OPTIONS

 

 

 

 

 

 

 

 

 

 

 

The Boeing

 

 

 

 

 

 

 

 

 

 

 

Co. . . . . . . . . .

100

$

1,916,800

$

175.00

10/19/2023

$

(9,100.00)

 

 

Howard

 

 

 

 

 

 

 

 

 

 

 

Hughes

 

 

 

 

 

 

 

 

 

 

 

Holding . . .

400

$

2,965,200

 

75.00

10/19/2023

 

(70,000)

 

 

HP Inc. . . . . . .

60

$

154,200

 

29.00

10/7/2023

 

(22,110)

 

 

Pool Corp. . . .

75

$

2,670,750

 

330.00

10/19/2023

 

(33,375)

 

 

 

 

 

 

 

 

 

$

(134,585)

 

 

 

TOTAL WRITTEN OPTIONS

. . . . . . . . . . . . . .

. .

. . . . . . . .

. . . . . . . . . . .

$

(929,775)

 

 

 

 

 

 

 

 

 

 

 

 

In accordance with U.S. GAAP, “fair value” is defined as the price that a Fund would receive upon selling an investment in an orderly transaction to an independent buyer in the principal or most advantageous market for the investment. Various inputs are used in determining the value of a Fund’s investments. U.S. GAAP established a three-tier hierarchy of inputs to establish a classification of fair value measurements for disclosure purposes. Level 1 includes quoted prices in active markets for identical securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.). Level 3 includes significant unobservable inputs (including the Fund’s own assumptions in determining fair value of investments).

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

3

QUARTERLY REPORT

RULE ONE FUND

Schedule of Investments - continued

September 30, 2023 (unaudited)

The following is a summary of the inputs used to value the Fund’s investment as of September 30, 2023:

 

 

Level 1

 

 

 

Level 2

 

 

 

Level 3

 

 

 

 

 

 

 

 

 

Other

 

 

 

 

 

 

 

 

 

 

 

 

Significant

 

 

Significant

 

 

 

 

 

 

 

 

Observable

 

Unobservable

 

 

 

 

Quoted Prices

 

 

Inputs

 

 

Inputs

 

Total

 

Common Stocks . . . . . . . . .

$

109,712,105

$

$

$

109,712,105

Exchange Traded Funds . .

 

10,366,200

 

 

 

 

 

 

10,366,200

 

Money Market Funds . . . . .

 

29,048,789

 

 

 

 

 

 

29,048,789

 

Options Purchased . . . . . .

 

 

 

8,275,836

 

 

 

 

8,275,836

 

Total Investments . . . . . . . .

$

149,127,094

 

$

8,275,836

 

$

$

157,402,930

 

Options Written

 

 

 

 

 

 

 

 

$

$

(929,775)

$

$

(929,775)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The Fund held no Level 3 securities at any time during the period.

There were no transfers into or out of Levels 1 and 2 during the period ended September 30, 2023.

At September 30, 2023 the cost of investments for Federal income tax purposes has been estimated since the final tax characteristics cannot be determined until fiscal year end. Cost of securities for Federal income tax purpose is $138,014,562 and the related tax-based net unrealized appreciation (depreciation) consists of:

Gross unrealized appreciation . . . . . . . .

$ 21,025,545

 

Gross unrealized depreciation . . . . . . . .

(2,566,952)

Net unrealized appreciation . . . . . . . . . . .

$ 18,458,593

 

4

QUARTERLY REPORT