Gator Financial Fund Portfolio

PORTFOLIO GUIDELINES

Fund Guidelines

A long-only fund focused on the Financials sector
Number of positions is generally 20-30
Top 10 positions are generally 45-55% of the portfolio
International equities can compose up to 20% of the portfolio

Exposure Guidelines

Up to 100% gross long exposure
No short exposure

TOP TEN EQUITY HOLDINGS AS OF MARCH 31, 2020

SLM Corp.	6.52%
Ambac Financial Group, Inc.	5.90%
Navient Corp.	5.80%
PennyMac Mortgage	5.49%
Goldman Sachs Group, Inc.	5.28%
Credit Suisse Group AG ADR	4.46%
UBS Group AG	4.32%
Federal National Mortgage	4.31%
Morgan Stanley	3.98%
OneMain Holdings, Inc.	3.82%

INDUSTRY ALLOCATION AS OF MARCH 31, 2020

	Long Portfolio	Russell 3000 Financials Index
Banks	25.91%	23.56%
Commercial & Professional	0.00%	0.00%
Consumer Services	0.00%	0.14%
Diversified Financials	33.12%	24.58%
Energy	0.72%	0.00%
Insurance	8.44%	12.36%
Media & Entertainment	0.00%	0.00%
Real Estate	24.83%	20.37%
Software & Sales	0.00%	18.36%
Cash	0.00%	0.00%

Please consider the investment objectives, risks and charges and expenses of the fund carefully before investing. The fund’s prospectus contains this and other information about the fund and is available on this website HERE or by calling (866) 738-3629. Please read the prospectus carefully before investing.

The Gator Financial Fund is distributed by Arbor Court Capital, LLC – Member FINRA