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Schedule of Investments |
December 31, 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 - 65.62% |
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Communications - 1.68% |
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Verizon Communications, Inc. |
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| 1,640 |
| 61,828 |
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Consumer Discretionary - 1.53% |
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Ebay, Inc. |
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| 1,293 |
| 56,401 |
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Consumer Staples - 11.79% |
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Altria Group, Inc. |
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| 2,080 |
| 83,907 |
Conagra Brands, Inc. |
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| 2,970 |
| 85,120 |
General Mills, Inc. |
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| 1,200 |
| 78,168 |
JM Smucker Co. |
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| 830 |
| 104,895 |
The Kroger Co. |
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| 1,800 |
| 82,278 |
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| 434,368 |
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Energy - 5.78% |
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BP Plc |
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| 900 |
| 31,860 |
Chevron Corp. |
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| 500 |
| 74,580 |
Diamondback Energy, Inc. |
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| 300 |
| 46,524 |
Exxon Mobil Corp. |
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| 600 |
| 59,988 |
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| 212,952 |
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Financials - 9.98% |
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Allstate Corp. (2) |
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| 480 |
| 67,190 |
Aon Plc. (United Kingdom) |
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| 250 |
| 72,755 |
Chubb Ltd. (Switzerland) |
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| 300 |
| 67,800 |
Travelers Cos., Inc. |
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| 500 |
| 95,245 |
US Bancorp, Inc. |
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| 1,500 |
| 64,920 |
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| 367,910 |
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Health Care - 16.89% |
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Amgen, Inc. |
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| 300 |
| 86,406 |
Bristol Myers Squibb Co. |
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| 1,300 |
| 66,703 |
Cardinal Health, Inc. |
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| 1,000 |
| 100,800 |
Cigna Corp. |
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| 120 |
| 35,934 |
CVS Health Corp. |
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| 1,210 |
| 95,542 |
Johnson & Johnson |
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| 500 |
| 78,370 |
Teva Pharmaceutical Industries Ltd. ADR (2) |
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| 6,100 |
| 63,684 |
UnitedHealth Group, Inc. |
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| 180 |
| 94,765 |
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| 622,204 |
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Industrials - 2.27% |
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3M Co. |
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| 370 |
| 40,448 |
Quanta Services, Inc. |
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| 200 |
| 43,160 |
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| 83,608 |
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Information Technology - 4.51% |
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International Business Machines Corp. |
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| 500 |
| 81,775 |
Oracle Corp. |
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| 800 |
| 84,344 |
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| 166,119 |
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Materials - 4.19% |
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Agnico Eagle Mines, Ltd. (Canada) |
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| 1,130 |
| 61,980 |
Alamos Gold, Inc. |
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| 6,870 |
| 92,539 |
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| 154,519 |
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Utilities - 7.00% |
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Dominion Energy, Inc. |
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| 1,900 |
| 89,300 |
Exelon Corp. |
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| 2,010 |
| 72,159 |
First Energy Corp. |
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| 2,630 |
| 96,416 |
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| 257,875 |
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Total Common Stock |
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| (Cost $ 1,569,455) |
| 2,417,784 |
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U.S. Government Obligations - 13.44% |
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U.S. Government Treasury Bill, 0.00%, 03/07/2024 | 500,000 |
| 495,300 |
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Total U.S. Government Obligations | (Cost $ 495,035) |
| 495,300 |
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Money Market Registered Investment Companies - 14.88% |
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Morgan Stanley Institutional Liquidity Fund Treasury Portfolio, Institutional Class - 5.22% (4) | 548,149 |
| 548,149 |
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Total Money Market Registered Investment Companies | (Cost $ 548,149) |
| 548,149 |
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Total Investments - 94.37% | (Cost $ 2,667,859) |
| 3,477,433 |
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Other Assets Less Liabilities - 5.63% |
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| 207,294 |
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Total Net Assets - 100.00% |
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| 3,684,727 |
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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, February 16, 2024, Put @ $4,400.00 | 15 | 2/16/2024 | 6,600,000 |
| 16,200 |
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Total Options |
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| 15 |
| (Cost $ 55,220) |
| 16,200 |
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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 December 31, 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 | | | $ | 3,477,433 | $ | |
Level 2 - Other Significant Observable Inputs | | | - | | - |
Level 3 - Significant Unobservable Inputs | | | - | | - |
Total | | | | $ | 3,477,433 | $ | 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 December 31, 2023 |
(6) The notional amount is calculated by multiplying outstanding contracts by the exercise price at December 31, 2023. |
