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Schedule of Investments |
June 30, 2023 (unaudited) |
Forester Value Fund |
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| Shares or Principal |
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Security Description | | | Amount ($) | | Fair Value ($)(1) |
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Common Stocks - 78.02% |
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Communications - 1.58% |
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Verizon Communications, Inc. |
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| 1,640 |
| 60,992 |
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Consumer Discretionary - 1.50% |
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Ebay, Inc. |
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| 1,293 |
| 57,784 |
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Consumer Staples - 14.09% |
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Altria Group, Inc. |
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| 2,080 |
| 94,224 |
Conagra Brands, Inc. |
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| 2,970 |
| 100,149 |
General Mills, Inc. |
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| 1,550 |
| 118,885 |
JM Smucker Co. |
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| 830 |
| 122,566 |
The Kroger Co. |
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| 2,230 |
| 104,810 |
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| 540,634 |
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Energy - 9.76% |
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Chevron Corp. |
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| 800 |
| 125,880 |
Exxon Mobil Corp. |
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| 1,140 |
| 122,265 |
Pioneer Natural Resources Co. |
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| 610 |
| 126,380 |
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| 374,525 |
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Financials - 10.07% |
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Allstate Corp. |
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| 480 |
| 52,339 |
Aon Plc. (United Kingdom) |
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| 350 |
| 120,820 |
Chubb Ltd. (Switzerland) |
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| 300 |
| 57,768 |
Travelers Cos., Inc. |
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| 610 |
| 105,933 |
US Bancorp, Inc. |
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| 1,500 |
| 49,560 |
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| 386,420 |
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Health Care - 19.33% |
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Amgen, Inc. |
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| 410 |
| 91,028 |
Bristol Myers Squibb Co. |
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| 1,790 |
| 114,471 |
Cardinal Health, Inc. |
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| 1,000 |
| 94,570 |
Cigna Corp. |
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| 320 |
| 89,792 |
CVS Health Corp. |
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| 1,210 |
| 83,647 |
Johnson & Johnson |
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| 820 |
| 135,726 |
Teva Pharmaceutical Industries Ltd. ADR (2) |
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| 6,100 |
| 45,933 |
UnitedHealth Group, Inc. |
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| 180 |
| 86,515 |
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| 741,682 |
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Industrials - 4.04% |
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3M Co. |
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| 370 |
| 37,033 |
Quanta Services, Inc. |
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| 600 |
| 117,870 |
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| 154,903 |
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Information Technology - 5.62% |
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International Business Machines Corp. |
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| 900 |
| 120,429 |
Oracle Corp. |
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| 800 |
| 95,272 |
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| 215,701 |
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Materials - 3.61% |
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Agnico Eagle Mines, Ltd. (Canada) |
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| 1,130 |
| 56,477 |
Alamos Gold, Inc. |
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| 6,870 |
| 81,891 |
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| 138,368 |
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Utilities - 8.42% |
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Dominion Energy, Inc. |
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| 1,900 |
| 98,401 |
Exelon Corp. |
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| 3,010 |
| 122,627 |
First Energy Corp. |
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| 2,630 |
| 102,255 |
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| 323,283 |
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Total Common Stock |
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| (Cost $ 1,860,240) |
| 2,994,292 |
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U.S. Government Obligations - 12.89% |
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U.S. Government Treasury Bill, 0.00%, 09/14/2023 | 500,000 |
| 494,768 |
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Total U.S. Government Obligations | (Cost $ 495,125) |
| 494,768 |
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Money Market Registered Investment Companies - 8.69% |
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Morgan Stanley Institutional Liquidity Fund Treasury Portfolio, Institutional Class - 4.94 % (4) | 333,490 |
| 333,490 |
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Total Money Market Registered Investment Companies | (Cost $ 333,490) |
| 333,490 |
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Total Investments - 99.91% | (Cost $ 1,860,240) |
| 3,834,400 |
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Liabilities in Excess of Other Assets - .09% |
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| 3,403 |
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Total Net Assets - 100.00% |
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| 3,837,803 |
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Options |
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| Long (Short) |
| Notional Value of |
| Fair |
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| Contracts (5) | Expiration Date | Contracts ($) (6) |
| Value ($) |
Put Options |
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S&P 500 Index, August 18, 2023, Put @ $4,000.00 | 15 | 8/18/2023 | 6,000,000 |
| 11,850 |
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Total Options |
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| 15 |
| (Cost $ 45,545) |
| 11,850 |
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(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) |
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The following is a summary of the inputs used as of June 30, 2023 in valuing the Fund's assets carried at fair value: |
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| | | | | Investments in | | Other Financial |
Valuation Inputs | | | | Securities | | Instruments (9) |
Level 1 - Quoted Prices | | | $ | 3,834,400 | $ | |
Level 2 - Other Significant Observable Inputs | | | - | | - |
Level 3 - Significant Unobservable Inputs | | | - | | - |
Total | | | | $ | 3,834,400 | $ | 0 |
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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. |
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(2) Represents non-income producing securities. |
(4) Variable rate security; the coupon rate shown represents the yield at June 30, 2023 |
(6) The notional amount is calculated by multiplying outstanding contracts by the exercise price at June 30, 2023. |
