# EDGAR Filing Document

**Accession Number:** 0001477491
**File Stem:** 0001162044-23-000060
**Filing Date:** 2023-1
**Character Count:** 69826
**Document Hash:** c29fdd34e4d07a2c96ae1534b22e9750
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001162044-23-000060.hdr.sgml**: 20230112

**ACCESSION NUMBER**: 0001162044-23-000060

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221130

**FILED AS OF DATE**: 20230112

**DATE AS OF CHANGE**: 20230112

**PERIOD START**: 20230831

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ARCHER INVESTMENT SERIES TRUST
- **CENTRAL INDEX KEY:** 0001477491
- **IRS NUMBER:** 000000000

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22356
- **FILM NUMBER:** 23525659

**BUSINESS ADDRESS:**
- **STREET 1:** 11711 N. COLLEGE AVENUE
- **STREET 2:** # 200
- **CITY:** CARMEL
- **STATE:** IN
- **ZIP:** 46032
- **BUSINESS PHONE:** 3175811776

**MAIL ADDRESS:**
- **STREET 1:** 11711 N. COLLEGE AVENUE
- **STREET 2:** # 200
- **CITY:** CARMEL
- **STATE:** IN
- **ZIP:** 46032

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ARCHER SERIES TRUST
- **DATE OF NAME CHANGE:** 20091124

## Series and Classes Contracts Data

### Archer Income Fund (Series ID: S000030455)

| Class ID   | Class Name         | Ticker Symbol   |
|:---|:---|:---|
| C000093505 | Archer Income Fund | ARINX           |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **Schedule of Investments** | **Schedule of Investments** | **Schedule of Investments** |
| **November 30, 2022 (unaudited)** | **November 30, 2022 (unaudited)** | **November 30, 2022 (unaudited)** |
| **<u>Archer Income Fund</u>** | **<u>Archer Income Fund</u>** | **<u>Archer Income Fund</u>** |
|  | **Shares or Principal** |  |
| **Security Description** | **Amount ($)** | **Fair Value ($)(1)** |
| **Corporate Bonds - 59.41% (5)** | **Corporate Bonds - 59.41% (5)** | **Corporate Bonds - 59.41% (5)** |
| **Air Transportation, Scheduled - 1.92%** |  |  |
| American Airlines 2013-2 Class A Pass Through Trust, 4.950%, due 01/15/23 | 36249  | 36025  |
| Southwest Airlines Co., 5.250%, due 05/04/25 | 150000  | 150657  |
|  |  | 186682  |
| **Aircraft - 1.43%** |  |  |
| Boeing Co., 2.600%, due 10/30/25 | 150000  | 138818  |
| **Beverages - 1.01%** |  |  |
| Keurig Dr. Pepper, Inc., 3.130%, due 12/15/23 | 100000  | 97970  |
| **Business Services - 0.99%** |  |  |
| Thomson Reuters Corp., 3.850%, 09/29/24 | 100000  | 96873  |
| **Electric Services - 1.51%** |  |  |
| Southern California Edison Co. Series E, 8.639% (3-month US Libor + 4.199%, to 01/23/23 (a) (b)  | 50000  | 48951  |
| Southern Co., 2.950%, due 07/01/23 | 100000  | 98882  |
|  |  | 147833  |
| **Electronic & Other Electrical Equipment (No Computer Equipment) - 0.85%** |  |  |
| General Electric Co. Series A, 5.572%, to 09/15/2049 (a) (b) | 100000  | 82998  |
| **Financial Services - 2.86%** |  |  |
| CommunityWide Federal Credit Union, 5.000%, 12/08/2025 | 150000  | 150000  |
| General Motors Financial Company, Inc. Series C, 5.70%, to 09/30/30 (a) (b)  | 150000  | 129750  |
|  |  | 279750  |
| **General Building Contractors - Residential Buildings - 1.49%** |  |  |
| Lennar Corp., 4.750%, due 11/29/27 | 100000  | 95572  |
| Lennar Corp., 4.875%, due 12/15/23 | 50000  | 49711  |
|  |  | 145283  |
| **Hotels and Motels - 1.01%** |  |  |
| Marriott International, Inc., 4.150%, due 12/01/23 | 100000  | 99024  |
| **Investment Advice - 1.97%** |  |  |
| Affiliated Managers Group, Inc., 3.500%, due 08/01/25 | 200000  | 192351  |
| **National Commercial Banks - 15.32%** |  |  |
| Banc of California, Inc., 5.250%, due 04/15/25 | 200000  | 196800  |
| CenterState Bank Corp., 5.750%, to 06/01/25 (a)  | 10000  | 9698  |
| Citigroup, Inc. Series B, 5.900%, to 02/15/23 (a) (b)  | 100000  | 98761  |
| Citigroup Global Markets, Inc., 3.000%, 07/17/23 | 200000  | 196744  |
| JPMorgan & Chase Co. Series B, 4.940%, due 2/01/27 (3-month US Libor + .50%) FRN  | 150000  | 138092  |
| JPMorgan Chase & Co. Series CC, 7.020%, due 02/01/2023 (a) (b)  | 150000  | 147146  |
| JPMorgan Chase & Co., 5.150%, 05/01/23 Perp | 150000  | 146438  |
| Mellon Capital IV Series 1, 4.092%, to 12/20/22 (3-month US Libor + 0.565%) (b) (4) | 200000  | 156751  |
| Old National Bancorp, 4.125%, due 08/15/24  | 100000  | 97113  |
| Truist Financial Corp. Series M, 5.125%, to 12/15/27 (a) (b)  | 100000  | 82254  |
| Truist Financial Corp. Series Q, 5.100%, to 03/01/30  | 75000  | 67200  |
| U.S. Bancorp, 3.700%, to 01/15/27 (a) (b)  | 200000  | 159544  |
|  |  | 1496541  |
| **Natural Gas Distribution - 0.51%** |  |  |
| National Fuel Gas Co., 5.200%, due 07/15/25  | 50000  | 49764  |
| **Personal Credit Institutions - 2.25%** |  |  |
| Discover Financial Services Series D, 6.125%, to 06/23/25 (a) (b)  | 100000  | 96980  |
| OneMain Finance Corp., 3.500%, due 01/15/27  | 150000  | 122840  |
|  |  | 219820  |
| **Property & Casualty Insurance - 1.56%** |  |  |
| Finial Holdings, Inc., 7.125%, due 10/15/23  | 150000  | 152372  |
| **Real Estate Investment Trusts - 0.96%** |  |  |
| Ready Capital Corp., 5.750%, due 02/15/26 | 4000  | 93640  |
| **Retail-Department Store - 0.37%** |  |  |
| Dillards, Inc., 7.750%, due 07/15/26  | 35000  | 36433  |
| **Rubber & Plastics Footwear - 1.52%** |  |  |
| Nike, Inc., 2.250%, due 05/01/23  | 150000  | 148212  |
| **Security Brokers, Dealers & Flotation Companies - 0.87%** |  |  |
| Capital Southwest Corp., 3.375%, due 10/01/26  | 100000  | 84500  |
| **Semiconductors & Related Devices - 1.50%** |  |  |
| Microchip Technology, Inc., 2.670%, 09/01/2023 | 150000  | 146650  |
|  |  | 146650  |
| **Services-Equipment Rental & Leasing - 2.32%** |  |  |
| Air Lease Corp., 3.625%, due 12/01/27  | 100000  | 89554  |
| United Rentals, Inc., 3.875%, due 11/15/27  | 150000  | 137480  |
|  |  | 227034  |
| **Services - Miscellaneous & Recreation - 4.41%** |  |  |
| The Walt Disney Co., 7.700%, 10/30/25 | 400000  | 430663  |
| **Services-Prepackaged Software - 1.44%** |  |  |
| VMWare, Inc., 3.900%, due 08/21/27  | 150000  | 140932  |
| **State Commercial Banks - 7.09%** |  |  |
| Ally Financial, Inc. Series B, 4.700%, to 05/15/26 (a) (b)  | 150000  | 108656  |
| Eagle Bancorp, Inc., 5.750%, due 09/01/24  | 150000  | 149868  |
| Fifth Third Bancorp Series L, 4.500%, to 09/30/25 (a) (b)  | 150000  | 140423  |
| Hilltop Holdings, Inc., 5.000%, 04/15/2025 | 100000  | 97513  |
| Merchants Bancorp, 8.250%, 10/01/27 | 4000  | 110200  |
| SVB Financial Group, 4.100%, to 02/15/31 (a) (b)  | 150000  | 85415  |
|  |  | 692075  |
| **Steel Works, Blast Furances Rolling Mill - 1.51%** |  |  |
| Steel Dynamics, Inc., 5.000%, 12/15/26 | 150000  | 147759  |
| **Telephone Communications (No Radio Telephone) - 0.53%** |  |  |
| Indiana Bell Tel Co., Inc., 7.300%, due 08/15/26  | 50000  | 52023  |
| **Television Broadcasting Stations - 0.56%** |  |  |
| CBS Broadcasting, Inc., 7.125%, due 11/01/23  | 54000  | 54654  |
| **Wholesale-Groceries & Related Products - 1.65%** |  |  |
| Sysco Corp., 6.500%, due 08/01/28  | 152000  | 161221  |
| Total Corporate Bonds | (Cost $6,279,088) | 5801875  |
| **Exchange-Traded Funds - 0.33% (3)** | **Exchange-Traded Funds - 0.33% (3)** | **Exchange-Traded Funds - 0.33% (3)** |
| iShares US Preferred Stock ETF | 1000  | 31850  |
| Total Exchange-Traded Funds | (Cost $37,982) | 31850  |
| **Municipal Bonds - 27.81% (5)** | **Municipal Bonds - 27.81% (5)** | **Municipal Bonds - 27.81% (5)** |
| **Arizona - 0.12%** |  |  |
| Maricopa County School District No. 66 Roosevelt Elementary 6.243%, due 07/01/26  | 10000  | 10318  |
| **California - 1.51%** |  |  |
| Sacramento, CA Pension Oblg. Series A, 6.420%, due 08/01/23 | 50000  | 50407  |
| Sacramento Cnty., CA Pension Oblg., 6.625%, due 08/01/24 | 95000  | 97524  |
|  |  | 147931  |
| **Connecticut - 0.21%** |  |  |
| Stratford CT Taxable, 5.750%, due 08/15/30 | 20000  | 20111  |
| **Florida - 1.38%** |  |  |
| North Miami Beach, FL, Water Revenue Series B, 2.311%, due 08/01/27 | 150000  | 134552  |
| **Georgia - 0.54%** |  |  |
| Georgia Local Government, 4.750%, due 06/01/28 | 50000  | 52615  |
| **Illinois - 0.83%** |  |  |
| Eastern IL University Build America Bond, 5.900%, due 04/01/23 | 45000  | 44927  |
| Rosemont, IL Ref Bds Series A, 5.375%, due 12/01/25 | 15000  | 15284  |
| State of Illinois, 4.950%, due 06/01/23 | 20455  | 20448  |
|  |  | 80659  |
| **Indiana - 4.69%** |  |  |
| Beech Grove, IN Sch Bldg. Corp., 2.850%, due 07/05/25 | 140000  | 134513  |
| Evansville-Vanderburgh, IN School Bldg. Corp. Series B, 5.900%, due 07/15/26 | 165000  | 167452  |
| Evansville-Vanderburgh, IN School Bldg. Corp. Series B, 6.150%, due 07/15/27 | 100000  | 101485  |
| Merrillville, IN, Multi Sch Bldg. Corp., Series B, 3.860%, due 07/15/23 | 30000  | 29915  |
| Warsaw Industry Redevelopment District Tax Taxable Special Taxing District Series A, 4.750%, due 02/01/26 | 25000  | 24262  |
|  |  | 457627  |
| **Maryland - 1.05%** |  |  |
| Baltimore MD, Brd of Sch Commissioners City Schs Revenue, 5.692%, due 12/15/25  | 100000  | 102984  |
| **Michigan - 1.94%** |  |  |
| Michigan State Taxable School Loan Series A, 3.200%, due 05/15/27 | 200000  | 189570  |
| **Missouri - 0.20%** |  |  |
| Kansas City, MO Taxable Gen Obl Series B, 5.050%, due 02/01/23 | 20000  | 20006  |
| **New York - 4.70%** |  |  |
| City of New York, NY, 1.980%, due 08/01/23 | 150000  | 147643  |
| New York St Dorm Auth Revenues, 1.085%, 07/01/2024 | 200000  | 188384  |
| Schenectady, NY Metroplex Development Authority Revenue Taxable Ref, 2.250%, due 08/01/23 | 125000  | 123075  |
|  |  | 459102  |
| **Ohio - 3.88%** |  |  |
| Avon, OH, General Obligations Various Purpose Improvement Refunding Bonds, Series 2020, 0.955%, due 12/01/25 | 100000  | 89790  |
| Bloom & Carroll Ohio Loc Sch Dist, 5.800%, due 12/01/25 | 60000  | 61836  |
| Cleveland, OH Income Tax Revenue Build America Bonds, 6.060%, due 10/01/26 | 15000  | 15417  |
| Cleveland OH Public Power System Revenue, 5.500%, 11/15/38 | 100000  | 101253  |
| JobsOhio Beverage Sys Stwd Lien Liquor Profits Revenue Refunding Bonds, Series 2020A, 2.268%, due 01/01/28 | 125000  | 110735  |
|  |  | 379031  |
| **Oklahoma - 0.16%** |  |  |
| Garfield County, OK, 6.000%, due 09/01/24 | 15000  | 15237  |
| **Oregon - 1.83%** |  |  |
| Oregon State Sch Brds Assn Pension, Series B, 5.450%, due 06/30/24 | 25000  | 25130  |
| Philomath, Oregon Sch District, 5.472%, due 06/15/2027 | 150000  | 153942  |
|  |  | 179072  |
| **Pennsylvania - 1.75%** |  |  |
| East Norriton & Plymouth PA, Jt Swr Auth, 1.832%, due 8/01/28  | 200000  | 171288  |
| **Texas - 1.37%** |  |  |
| Austin, TX Electric Utility System Revenue Taxable Series A, 2.524%, due 11/15/23 | 20000  | 19601  |
| City of Irving, TX, 5.657%, due 08/15/23 | 25000  | 24656  |
| North Texas Tollway Authority, 8.410%, due 02/01/30 | 50000  | 55092  |
| Texas St. Taxable Refunding Public Finance Authority Series C, 2.531%, due 10/01/23 | 35000  | 34477  |
|  |  | 133826  |
| **Virginia - 1.50%** |  |  |
| Virginia St Resources Auth Infrastructure Revenue, 1.972%, 11/01/2023 | 150000  | 146891  |
| **Wisconsin - 0.15%** |  |  |
| Public Finance Authority, WI, 5.750%, due 06/01/23 | 150000  | 14894  |
| Total Municipal Bonds | (Cost $2,861,776) | 2715714  |
| **Preferred Securities - 6.63%** | **Preferred Securities - 6.63%** | **Preferred Securities - 6.63%** |
| **Asset Management - 0.72%** |  |  |
| B Riley Financial, Inc., 6.50%, due 09/30/26 | 3000  | 69690  |
| **National Commercial Banks - 4.92%** |  |  |
| BAC Capital Trust XIII Series F, 4.000% (3-month Libor + 0.40%) (b) (4) | 100000  | 75454  |
| Huntington Bancshares, Inc. Series E, 5.700%, to 04/15/23 (a) (b)  | 150000  | 138375  |
| Huntington Bancshares, Inc. Series G, 4.450%, to 10/15/27 (a) (b)  | 150000  | 132758  |
| PNC Capital Trust C, 3.652%, due 06/01/28 (3-month Libor + 0.57%) FRN  | 150000  | 134284  |
|  |  | 480871  |
| **State Commercial Banks - 0.99%** |  |  |
| Medallion Bank Utah Series F, 8.000%, to 04/01/25 (a) (b) | 4000  | 96600  |
| Total Preferred Securities | (Cost $722,322) | 647161  |
| **Structured Note - 3.56% (5)** | **Structured Note - 3.56% (5)** | **Structured Note - 3.56% (5)** |
|  | Shares | Value |
| **National Commercial Banks - 0.93%** |  |  |
| Key Corp., Capital I, 4.483%, due 07/01/28 (3-month US Libor + 0.74%) FRN  | 100000  | 90213  |
| **Security Brokers, Dealers & Flotation Companies - 2.63%** |  |  |
| Goldman Sachs Group, Inc. Series MTN, 0.00%, Capped at 10% (4) (maturity date: 12/13/28) | 100000  | 71068  |
| Goldman Sachs Group, Inc., 0.00%, Capped at 10% (4) (maturity date: 11/13/28) | 120000  | 91200  |
| Morgan Stanley, Series MTN, 0.00%, due 08/19/28 Capped at 10% (4) | 114000  | 78201  |
| Morgan Stanley, Series MTN, 0.00%, due 08/30/28 Capped at 12% (4) | 25000  | 16570  |
|  |  | 257039  |
| Total Structured Note | (Cost $444,062) | 347252  |
| **Money Market Registered Investment Companies - 2.83%** | **Money Market Registered Investment Companies - 2.83%** | **Money Market Registered Investment Companies - 2.83%** |
| Federated Treasury Obligation Fund - Institutional Shares 3.66% (4) | 276037  | 276037  |
| Total Money Market Registered Investment Companies | (Cost $276,037) | 276037  |
| **Total Investments - 100.55%** | (Cost $10,621,267) | 9819889  |
| Liabilities in Excess of Other Assets - -(.55%) |  | (53965) |
| Total Net Assets - 100.00% |  | 9765924  |
| (1) ***Statement on Financial Accounting Standard No. 157 "Fair Value Measurements"*** - Various inputs are used in determining the value of the Fund's investments. | (1) ***Statement on Financial Accounting Standard No. 157 "Fair Value Measurements"*** - Various inputs are used in determining the value of the Fund's investments. | (1) ***Statement on Financial Accounting Standard No. 157 "Fair Value Measurements"*** - Various inputs are used in determining the value of the Fund's investments. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;These inputs are summarized in the three broad levels listed below. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;These inputs are summarized in the three broad levels listed below. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;These inputs are summarized in the three broad levels listed below. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 1 - quoted prices in active markets for identical securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 1 - quoted prices in active markets for identical securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 1 - quoted prices in active markets for identical securities |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 2 - other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 2 - other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 2 - other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 3 - significant unobservable inputs (including the Fund's own assumptions in determining the fair value of investments) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 3 - significant unobservable inputs (including the Fund's own assumptions in determining the fair value of investments) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 3 - significant unobservable inputs (including the Fund's own assumptions in determining the fair value of investments) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following is a summary of the inputs used as of November 30, 2022 in valuing the Fund's assets carried at fair value: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following is a summary of the inputs used as of November 30, 2022 in valuing the Fund's assets carried at fair value: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following is a summary of the inputs used as of November 30, 2022 in valuing the Fund's assets carried at fair value: |
|  | Investments in  | Other Financial |
| Valuation Inputs | Securities | Instruments |
| Level 1 - Quoted Prices | $474177 | $- |
| Level 2 - Other Significant Observable Inputs | 9345712 | - |
| Level 3 - Significant Unobservable Inputs | - | - |
| Total | $9819889 | $- |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;market, such securities are reflected as Level 2. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;market, such securities are reflected as Level 2. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;market, such securities are reflected as Level 2. |
| (2) Represents non-income producing securities. | (2) Represents non-income producing securities. | (2) Represents non-income producing securities. |
| (3) Exchange Traded Funds. |  |  |
| (4) Variable rate security; the coupon rate shown represents the yield at November 30, 2022. | (4) Variable rate security; the coupon rate shown represents the yield at November 30, 2022. | (4) Variable rate security; the coupon rate shown represents the yield at November 30, 2022. |
| (5) All Corporate Bonds, Municipal Bonds and Structured Notes are categorized as Level 2 of the fair value hierarchy. Refer to Note 3 of the accompanying notes to the financial statements for additional information. | (5) All Corporate Bonds, Municipal Bonds and Structured Notes are categorized as Level 2 of the fair value hierarchy. Refer to Note 3 of the accompanying notes to the financial statements for additional information. | (5) All Corporate Bonds, Municipal Bonds and Structured Notes are categorized as Level 2 of the fair value hierarchy. Refer to Note 3 of the accompanying notes to the financial statements for additional information. |
| (a) Security converts to floating rate after the indicated fixed-rate coupon period. |  |  |
| (b) Perpetual security. Perpetual securities have no stated maturity date, but they may be called/redeemed by the issuer. | (b) Perpetual security. Perpetual securities have no stated maturity date, but they may be called/redeemed by the issuer. |  |
| ADR - American Depository Receipt |  |  |
| LIBOR- London Inter-Bank Offer Rate, which is an international interest rate benchmark that almost all banks use as reference to set their funding costs.  | LIBOR- London Inter-Bank Offer Rate, which is an international interest rate benchmark that almost all banks use as reference to set their funding costs.  | LIBOR- London Inter-Bank Offer Rate, which is an international interest rate benchmark that almost all banks use as reference to set their funding costs.  |
| FRN - Floating Rate Note is a debt instrument whose coupon rate is variable and it tied to a benchmark rate such as LIBOR or the US Treasury Bill rate. | FRN - Floating Rate Note is a debt instrument whose coupon rate is variable and it tied to a benchmark rate such as LIBOR or the US Treasury Bill rate. | FRN - Floating Rate Note is a debt instrument whose coupon rate is variable and it tied to a benchmark rate such as LIBOR or the US Treasury Bill rate. |
| 3-month is the period where it is a fixed period of 3 months a lender will lend at that cost.  |  |  |

---

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** ARCHER INVESTMENT SERIES TRUST

- **b. Investment Company Act file number:** 811-22356

- **c. CIK number of Registrant:** 0001477491

- **d. LEI of Registrant:** 549300ULDSJ2RHNW9957

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 11711 N. College Ave., #200

  - **City:** Carmel

  - **State:** IN

  - **Foreign country:** US

  - **Zip / Postal Code:** 46032

  - **Telephone number:** 317-581-1300

**Item A.2. Information about the Series.**

- **a. Name of Series:** Archer Income Fund

- **b. EDGAR series identifier (if any):** S000030455

- **c. LEI of Series:** 5493000U6YE12YDDT022

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2023-08-31

- **b. Date as of which information is reported:** 2022-11-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $9935598.83

**Total Liabilities:** $169675.25

**Net Assets:** $9765923.58

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** 15.62 | **1-Year:** 16.66 | **5-Year:** 5.23 | **10-Year:** -0 | **30-Year:** -0

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** -0 | **1-Year:** 0.64 | **5-Year:** -0 | **10-Year:** -0 | **30-Year:** -0

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000093505 | -1.76%               | -0.68%               | 1.46%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-256.90                 | $-153847.12                                |
| Month 2  | $-11784.45               | $-69756.14                                 |
| Month 3  | $-34.85                  | $112681.72                                 |

### Schedule of Portfolio Investments

| Name                                                       | Title                                                                                                        | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Affiliated Managers Group, Inc.                            | Affiliated Managers Group, Inc., 3.500%, due 08/01/25                                                        | CUSIP: 008252AN8<br>LEI: 2JE75BUE3T1BLCYYGK54 | Long             | DBT              | CORP              | US        |    200000 | PA      | $192351.38    | 1.97%             | 2025-08-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Air Lease Corp.                                            | Air Lease Corp., 3.625%, due 12/01/27                                                                        | CUSIP: 00912XAY0<br>LEI: 5493004NW4M4P8TMMK63 | Long             | DBT              | CORP              | US        |    100000 | PA      | $89554.17     | 0.92%             | 2027-12-01      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| Ally Financial, Inc.                                       | Ally Financial, Inc. Series B, 4.700%, to 05/15/26                                                           | CUSIP: 02005NBM1<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |    150000 | PA      | $108656.25    | 1.11%             | 2026-05-15      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| American Airlines 2013-2 Pass Through Trust                | American Airlines 2013-2 Class A Pass Through Trust, 4.950%, due 01/15/23                                    | CUSIP: 02377UAB0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     36249 | PA      | $36025.08     | 0.37%             | 2023-01-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| City of Austin                                             | Austin, TX Electric Utility System Revenue Taxable Series A, 2.524%, due 11/15/23                            | CUSIP: 052414RP6<br>LEI: IW10PQVTU7HKS3JMW253 | Long             | DBT              | CORP              | US        |     20000 | PA      | $19600.60     | 0.20%             | 2023-11-15      | Fixed         | 2.52%                 | No            |                  2 | On Loan: No      |
| City of Avon, OH                                           | Avon, OH, General Obligations Various Purpose Improvement Refunding Bonds, Series 2020, 0.955%, due 12/01/25 | CUSIP: 054213C27<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $89790.00     | 0.92%             | 2025-12-01      | Fixed         | 0.96%                 | No            |                  2 | On Loan: No      |
| B Riley Financial, Inc.                                    | B Riley Financial, Inc., 6.50%, due 09/30/26                                                                 | CUSIP: 05580M801<br>LEI: N/A                  | Long             | EP               | CORP              | US        |      3000 | NS      | $69690.00     | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of America Corp.                                      | BAC Capital Trust XIII Series F, 4.000% (3-month Libor +0.40%)                                               | CUSIP: 05518UAA5<br>LEI: 549300I6GXQ4O8PHFJ89 | Long             | DBT              | CORP              | US        |    100000 | PA      | $75453.86     | 0.77%             | 2043-03-15      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Baltimore Board of School Commissioners                    | Baltimore MD, Brd of Sch Commissioners City Schs Revenue, 5.692%, due 12/15/25                               | CUSIP: 183596CY9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $102984.00    | 1.05%             | 2025-12-15      | Fixed         | 5.69%                 | No            |                  2 | On Loan: No      |
| Banc of California, Inc.                                   | Banc of California, Inc., 5.250%, due 04/15/25                                                               | CUSIP: 05990KAC0<br>LEI: 549300ZKWUJDP6LJ1X87 | Long             | DBT              | CORP              | US        |    200000 | PA      | $196800.28    | 2.02%             | 2025-04-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Beech Grove School Building Corp                           | Beech Grove, IN Sch Bldg. Corp., 2.850%, due 07/05/25                                                        | CUSIP: 076725DK3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    140000 | PA      | $134513.40    | 1.38%             | 2025-07-05      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| Bloom & Carroll Local School District                      | Bloom & Carroll Ohio Loc Sch Dist, 5.800%, due 12/01/25                                                      | CUSIP: 093707ET0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     60000 | PA      | $61836.00     | 0.63%             | 2025-12-01      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| The Boeing Co.                                             | Boeing Co., 2.600%, due 10/30/25                                                                             | CUSIP: 097023BP9<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |    150000 | PA      | $138817.78    | 1.42%             | 2025-10-30      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| CBS Broadcasting, Inc.                                     | CBS Broadcasting, Inc., 7.125%, due 11/01/23                                                                 | CUSIP: 124845AF5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     54000 | PA      | $54653.60     | 0.56%             | 2023-11-01      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| Capital Southwest Corp.                                    | Capital Southwest Corp., 3.375%, due 10/01/26                                                                | CUSIP: 140501AC1<br>LEI: 54930023YZ4YEJEDBO56 | Long             | DBT              | CORP              | US        |    100000 | PA      | $84500.00     | 0.87%             | 2026-10-01      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| South State Corp.                                          | CenterState Bank Corp., 5.750%, to 06/01/25                                                                  | CUSIP: 15201PAA7<br>LEI: 549300JZUANXM0YQ4W53 | Long             | DBT              | CORP              | US        |     10000 | PA      | $9697.81      | 0.10%             | 2030-06-01      | Variable      | 5.75%                 | No            |                  2 | On Loan: No      |
| Citigroup Global Markets Holdings Inc.                     | Citigroup Global Markets, Inc., 3.000%, due 07/17/23                                                         | CUSIP: 17330PBW8<br>LEI: 82VOJDD5PTRDMVVMGV31 | Long             | DBT              | CORP              | US        |    200000 | PA      | $196744.17    | 2.01%             | 2023-07-17      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Citigroup, Inc.                                            | Citigroup, Inc. Series B, 5.900%, to 02/15/23                                                                | CUSIP: 172967GF2<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    100000 | PA      | $98760.94     | 1.01%             | 2023-02-15      | Variable      | 5.90%                 | No            |                  2 | On Loan: No      |
| City of Irving                                             | City of Irving, TX, 5.657%, due 08/15/23                                                                     | CUSIP: 463805BL4<br>LEI: 5493002R7BX8XPQ92O37 | Long             | DBT              | CORP              | US        |     25000 | PA      | $24656.25     | 0.25%             | 2023-08-15      | Fixed         | 5.66%                 | No            |                  2 | On Loan: No      |
| City of New York                                           | City of New York, NY, 1.980%, due 08/01/23                                                                   | CUSIP: 64966MEE5<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | CORP              | US        |    150000 | PA      | $147643.50    | 1.51%             | 2023-08-01      | Fixed         | 1.98%                 | No            |                  2 | On Loan: No      |
| Cleveland Department of Public Utilities Division of Power | Cleveland OH Public Power System Revenue, 5.500%, 11/15/2038                                                 | CUSIP: 186398JN4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $101253.00    | 1.04%             | 2038-11-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Cleveland OH Income Tax                                    | Cleveland, OH Income Tax Revenue Build America Bonds, 6.060%, due 10/01/26                                   | CUSIP: 186387EM4<br>LEI: 549300IQSLQPCVVMKJ96 | Long             | DBT              | CORP              | US        |     15000 | PA      | $15416.70     | 0.16%             | 2026-10-01      | Fixed         | 6.06%                 | No            |                  2 | On Loan: No      |
| CommunityWide Federal Credit Union                         | CommunityWide Federal Credit Union, 5.000%, 12/08/2025                                                       | CUSIP: 20416TAV4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    150000 | PA      | $150000.00    | 1.54%             | 2025-12-08      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Dillards, Inc.                                             | Dillards, Inc., 7.750%, due 07/15/26                                                                         | CUSIP: 254063AU4<br>LEI: 529900FGYKMWL6019P91 | Long             | DBT              | CORP              | US        |     35000 | PA      | $36432.85     | 0.37%             | 2026-07-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Discover Financial Services                                | Discover Financial Services Series D, 6.125%, to 06/23/25                                                    | CUSIP: 254709AQ1<br>LEI: Z1YLO2USPORE63VVUL20 | Long             | DBT              | CORP              | US        |    100000 | PA      | $96980.44     | 0.99%             | 2025-06-23      | Variable      | 6.13%                 | No            |                  2 | On Loan: No      |
| Eagle Bancorp, Inc.                                        | Eagle Bancorp, Inc., 5.750%, due 09/01/24                                                                    | CUSIP: 268948AA4<br>LEI: 549300B47NZODRMG3D47 | Long             | DBT              | CORP              | US        |    150000 | PA      | $149868.49    | 1.53%             | 2024-09-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| East Norriton & Plymouth                                   | East Norriton & Plymouth PA, Jt Swr Auth, 1.832%, due 08/01/28                                               | CUSIP: 274029GM3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $171288.00    | 1.75%             | 2028-08-01      | Fixed         | 1.83%                 | No            |                  2 | On Loan: No      |
| Eastern Illinois University                                | Eastern IL University Build America Bond, 5.900%, due 04/01/23                                               | CUSIP: 276509CA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     45000 | PA      | $44926.65     | 0.46%             | 2023-04-01      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| Evansville-Vanderburgh, IN School Bldg. Corp.              | Evansville-Vanderburgh, IN School Bldg. Corp. Series B, 5.900%, due 07/15/26                                 | CUSIP: 299620ED2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    165000 | PA      | $167451.90    | 1.71%             | 2026-07-15      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| Evansville-Vanderburgh, IN School Bldg. Corp.              | Evansville-Vanderburgh, IN School Bldg. Corp. Series B, 6.150%, due 07/15/27                                 | CUSIP: 299620EE0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $101485.00    | 1.04%             | 2027-07-15      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| Federated Hermes Money Market Obligations Trust            | Federated Treasury Obligation Fund - Institutional Shares                                                    | CUSIP: 60934N500<br>LEI: 25490005VWJDWX717014 | Long             | STIV             | RF                | US        |    276037 | NS      | $276036.71    | 2.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Fifth Third Bancorp.                                       | Fifth Third Bancorp Series L, 4.500%, to 09/30/25                                                            | CUSIP: 316773DB3<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | DBT              | CORP              | US        |    150000 | PA      | $140422.50    | 1.44%             | 2025-09-30      | Variable      | 4.50%                 | No            |                  2 | On Loan: No      |
| Zurich Reinsurance Centre Holdings, Inc.                   | Finial Holdings, Inc., 7.125%, due 10/15/23 (Switzerland)                                                    | CUSIP: 989822AA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    150000 | PA      | $152372.43    | 1.56%             | 2023-10-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| Garfield Educational Facilities Authority                  | Garfield County, OK, 6.000%, due 09/01/24                                                                    | CUSIP: 365716AP4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     15000 | PA      | $15237.45     | 0.16%             | 2024-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| General Electric Co.                                       | General Electric Co. Series A, 5.572%, to 09/15/2049                                                         | CUSIP: 369604BM4<br>LEI: 3C7474T6CDKPR9K6YT90 | Long             | DBT              | CORP              | US        |    100000 | PA      | $82997.50     | 0.85%             | 2049-09-15      | Variable      | 5.57%                 | No            |                  2 | On Loan: No      |
| General Motors Financial Co.                               | General Motors Financial Company, Inc. Series C, 5.70%, to 09/30/30                                          | CUSIP: 37045XDB9<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |    150000 | PA      | $129750.00    | 1.33%             | 2030-09-30      | Variable      | 5.70%                 | No            |                  2 | On Loan: No      |
| Georgia Local Govt.                                        | Georgia Local Government, 4.750%, due 06/01/28                                                               | CUSIP: 373271AA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     50000 | PA      | $52615.00     | 0.54%             | 2028-06-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc.                                  | Goldman Sachs Group, Inc. Series MTN, 0.00%, Capped at 10%, 12/13/28                                         | CUSIP: 38147Q2A3<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    100000 | PA      | $71068.00     | 0.73%             | 2028-12-13      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc.                                  | Goldman Sachs Group, Inc., 0.000%, Capped at 10%, 11/13/28                                                   | CUSIP: 38147QK21<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    120000 | PA      | $91200.00     | 0.93%             | 2028-11-13      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| Hilltop Holdings Inc.                                      | Hilltop Holdings, Inc., 5.000%, 04/15/2025                                                                   | CUSIP: 432748AB7<br>LEI: 54930010TA543US0PM65 | Long             | DBT              | CORP              | US        |    100000 | PA      | $97512.93     | 1.00%             | 2025-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Huntington Bancshares, Inc.                                | Huntington Bancshares, Inc. Series E, 5.700%, to 4/15/23                                                     | CUSIP: 446150AL8<br>LEI: 549300XTVCVV9I7B5T19 | Long             | DBT              | CORP              | US        |    150000 | PA      | $138375.00    | 1.42%             | 2023-04-15      | Variable      | 5.70%                 | No            |                  2 | On Loan: No      |
| Huntington Bancshares, Inc.                                | Huntington Bancshares, Inc. Series G, 4.450%, to 10/15/27                                                    | CUSIP: 446150AV6<br>LEI: 549300XTVCVV9I7B5T19 | Long             | DBT              | CORP              | US        |    150000 | PA      | $132758.49    | 1.36%             | 2027-10-15      | Variable      | 4.45%                 | No            |                  2 | On Loan: No      |
| Indiana Bell Telephone Co., Inc.                           | Indiana Bell Tel Co., Inc., 7.300%, due 08/15/26                                                             | CUSIP: 454614AK4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     50000 | PA      | $52023.11     | 0.53%             | 2026-08-15      | Fixed         | 7.30%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                                       | JPMorgan Chase & Co. Series B, 4.940%, due 02/01/2027 (3-month US Libor + .50%)                              | CUSIP: 161480AB4<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    150000 | PA      | $138091.72    | 1.41%             | 2027-02-01      | Variable      | 4.94%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                                       | JPMorgan Chase & Co. Series CC, 7.020%, due 02/01/2023                                                       | CUSIP: 48128BAD3<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    150000 | PA      | $147146.10    | 1.51%             | 2023-11-01      | Variable      | 7.02%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                                       | JPMorgan Chase & Co., 5.150%, 05/01/2023 Perp                                                                | CUSIP: 48124BAC9<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    150000 | PA      | $146437.50    | 1.50%             | 2023-05-01      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Jobs OH Beverage Sys                                       | JobsOhio Beverage Sys Stwd Lien Liquor Profits Revenue Refunding Bonds, Series 2020A, 2.268%, due 01/01/28   | CUSIP: 47770VBH2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    125000 | PA      | $110735.00    | 1.13%             | 2028-01-01      | Fixed         | 2.27%                 | No            |                  2 | On Loan: No      |
| Kansas City MO                                             | Kansas City, MO Taxable Gen Obl Series B, 5.050%, due 02/01/23                                               | CUSIP: 484873JG0<br>LEI: 549300EGAE3I3XU7XE19 | Long             | DBT              | CORP              | US        |     20000 | PA      | $20005.60     | 0.20%             | 2023-02-01      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| Keurig Dr. Pepper, Inc.                                    | Keurig Dr. Pepper, Inc., 3.130%, due 12/15/23                                                                | CUSIP: 26138EAW9<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | DBT              | CORP              | US        |    100000 | PA      | $97970.18     | 1.00%             | 2023-12-15      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| Key Corp.                                                  | Key Corp. Capital I, 4.483%, due 07/01/28 (3-month US Libor + 0.74%)                                         | CUSIP: 49326MAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $90212.78     | 0.92%             | 2028-07-01      | Variable      | 4.48%                 | No            |                  2 | On Loan: No      |
| Lennar Corp.                                               | Lennar Corp., 4.750%, due 11/29/27                                                                           | CUSIP: 526057CD4<br>LEI: 529900G61XVRLX5TJX09 | Long             | DBT              | CORP              | US        |    100000 | PA      | $95572.27     | 0.98%             | 2027-11-29      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Lennar Corp.                                               | Lennar Corp., 4.875%, due 12/15/23                                                                           | CUSIP: 526057BW3<br>LEI: 529900G61XVRLX5TJX09 | Long             | DBT              | CORP              | US        |     50000 | PA      | $49710.51     | 0.51%             | 2023-12-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Maricopa County ESD 066                                    | Maricopa County School District No. 66 Roosevelt Elementary 6.243%, due 07/01/26                             | CUSIP: 567337QV5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     10000 | PA      | $10318.40     | 0.11%             | 2026-07-01      | Fixed         | 6.24%                 | No            |                  2 | On Loan: No      |
| Marriott International, Inc.                               | Marriott International, Inc., 4.150%, 12/01/23                                                               | CUSIP: 571903BA0<br>LEI: 225YDZ14ZO8E1TXUSU86 | Long             | DBT              | CORP              | US        |    100000 | PA      | $99024.23     | 1.01%             | 2023-12-01      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| Medallion Bank                                             | Medallion Bank Utah Series F, 8.000%, to 04/01/25                                                            | CUSIP: 58403B205<br>LEI: N/A                  | Long             | EP               | CORP              | US        |      4000 | NS      | $96600.00     | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Mellon Capital IV                                          | Mellon Capital IV Series 1, 4.092%, to 12/20/22 (3-month US Libor + 0.565%)                                  | CUSIP: 58551TAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $156750.54    | 1.61%             | 2022-12-20      | Variable      | 4.09%                 | No            |                  2 | On Loan: No      |
| Merchants Bancorp                                          | Merchants Bancorp, 8.250%, to 10/01/2027                                                                     | CUSIP: 58844R884<br>LEI: N/A                  | Long             | EP               | CORP              | US        |      4000 | NS      | $110200.00    | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Merrillville Multi School                                  | Merrillville, IN, Multi Sch Bldg. Corp., Series B, 3.860%, due 07/15/23                                      | CUSIP: 590252PG1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     30000 | PA      | $29915.10     | 0.31%             | 2023-07-15      | Fixed         | 3.86%                 | No            |                  2 | On Loan: No      |
| State of Michigan                                          | Michigan State Taxable School Loan Series A, 3.200%, due 05/15/27                                            | CUSIP: 594612BD4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $189570.00    | 1.94%             | 2027-05-15      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| Microchip Technology Incorporated                          | Microchip Technology, Inc., 2.670%, 09/01/2023                                                               | CUSIP: 595017AZ7<br>LEI: 5493007PTFULNYZJ1R12 | Long             | DBT              | CORP              | US        |    150000 | PA      | $146649.97    | 1.50%             | 2023-09-01      | Fixed         | 2.67%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                             | Morgan Stanley, Series MTN, 0.00%, due 08/30/28 Capped at 12%                                                | CUSIP: 61760QDF8<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |     25000 | PA      | $16570.25     | 0.17%             | 2028-08-30      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                             | Morgan Stanley, Series MTN, 0.00%, due 08/19/28 Capped at 10%                                                | CUSIP: 61760QDA9<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    114000 | PA      | $78200.58     | 0.80%             | 2028-08-19      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| National Fuel Gas Co.                                      | National Fuel Gas Co., 5.200%, due 07/15/25                                                                  | CUSIP: 636180BM2<br>LEI: 8JB38FFW1Y3C1HM8E841 | Long             | DBT              | CORP              | US        |     50000 | PA      | $49764.50     | 0.51%             | 2025-07-15      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| New York St Dorm Auth Revenues                             | New York St Dorm Auth Revenues, 1.085%, 07/01/2024                                                           | CUSIP: 65000BGS1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $188384.00    | 1.93%             | 2024-07-01      | Fixed         | 1.09%                 | No            |                  2 | On Loan: No      |
| Nike, Inc.                                                 | Nike, Inc., 2.250%, due 05/01/23                                                                             | CUSIP: 654106AC7<br>LEI: 787RXPR0UX0O0XUXPZ81 | Long             | DBT              | CORP              | US        |    150000 | PA      | $148211.79    | 1.52%             | 2023-05-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| City of North Miami Beach                                  | North Miami Beach, FL, Water Revenue Series B, 2.311%, due 08/01/27                                          | CUSIP: 661046BY7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    150000 | PA      | $134551.50    | 1.38%             | 2027-08-01      | Fixed         | 2.31%                 | No            |                  2 | On Loan: No      |
| North Texas Tollway Authority                              | North Texas Tollway Authority, 8.410%, due 02/01/30                                                          | CUSIP: 66285WFT8<br>LEI: PQGZGRE0F2WPMYQQ1B78 | Long             | DBT              | CORP              | US        |     50000 | PA      | $55092.00     | 0.56%             | 2030-02-01      | Fixed         | 8.41%                 | No            |                  2 | On Loan: No      |
| Old National Bancorp                                       | Old National Bancorp, 4.125%, due 08/15/24                                                                   | CUSIP: 680033AC1<br>LEI: 549300MMK90CL5KMVX16 | Long             | DBT              | CORP              | US        |    100000 | PA      | $97112.87     | 0.99%             | 2024-08-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| OneMain Finance Corp.                                      | OneMain Finance Corp., 3.500%, due 01/15/27                                                                  | CUSIP: 682691AB6<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |    150000 | PA      | $122840.18    | 1.26%             | 2027-01-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Oregon School Boards Association                           | Oregon State Sch Brds Assn Pension, Series B, 5.450%, due 06/30/24                                           | CUSIP: 686053CQ0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     25000 | PA      | $25130.00     | 0.26%             | 2024-06-30      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| PNC Capital Trust C                                        | PNC Capital Trust C, 3.652%, due 06/01/28 (3-month Libor + 0.57%)                                            | CUSIP: 69349AAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    150000 | PA      | $134283.68    | 1.38%             | 2028-06-01      | Variable      | 3.65%                 | No            |                  2 | On Loan: No      |
| Philomath Oregon Sch Dist # 17J                            | Philomath, Oregon Sch District, 5.472%, due 06/15/2027                                                       | CUSIP: 718781CE5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    150000 | PA      | $153942.00    | 1.58%             | 2027-06-15      | Fixed         | 5.47%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                   | Public Finance Authority, WI, 5.750%, due 06/01/23                                                           | CUSIP: 74442HAD5<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | CORP              | US        |     15000 | PA      | $14894.25     | 0.15%             | 2023-06-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Ready Capital Corp.                                        | Ready Capital Corp., 5.750%, due 02/15/26                                                                    | CUSIP: 75574U606<br>LEI: 549300MYWGZUG7ZUYO87 | Long             | EP               | CORP              | US        |      4000 | NS      | $93640.00     | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Village of Rosemont, Illinois                              | Rosemont, IL Ref Bds Series A, 5.375%, due 12/01/25                                                          | CUSIP: 777543QK8<br>LEI: 5493007BOTZDVXZYCM52 | Long             | DBT              | CORP              | US        |     15000 | PA      | $15283.50     | 0.16%             | 2025-12-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| SVB Financial Group                                        | SVB Financial Group, 4.100%, to 02/15/31                                                                     | CUSIP: 78486QAG6<br>LEI: 549300D2KJ20JMXE7542 | Long             | DBT              | CORP              | US        |    150000 | PA      | $85415.31     | 0.87%             | 2031-02-15      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| County of Sacramento                                       | Sacramento Cnty., CA Pension Oblg., 6.625%, due 08/01/24                                                     | CUSIP: 786091AF5<br>LEI: 549300OXI5MD45L13R20 | Long             | DBT              | CORP              | US        |     95000 | PA      | $97524.15     | 1.00%             | 2024-08-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| County of Sacramento                                       | Sacramento, CA Pension Oblg. Series A, 6.420%, due 08/01/23                                                  | CUSIP: 786056BB6<br>LEI: 549300OXI5MD45L13R20 | Long             | DBT              | CORP              | US        |     50000 | PA      | $50407.00     | 0.52%             | 2023-08-01      | Fixed         | 6.42%                 | No            |                  2 | On Loan: No      |
| Schenectady Metroplex Development                          | Schenectady, NY Metroplex Development Authority Revenue Taxable Ref, 2.250%, due 08/01/23                    | CUSIP: 80647NFC9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    125000 | PA      | $123075.00    | 1.26%             | 2023-08-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| Southern California Edison Co.                             | Southern California Edison Co. Series E, 8.639%, to 01/23/2023                                               | CUSIP: 842400FU2<br>LEI: 9R1Z5I36FERIBVKW4P77 | Long             | DBT              | CORP              | US        |     50000 | PA      | $48950.85     | 0.50%             | 2049-08-01      | Variable      | 8.64%                 | No            |                  2 | On Loan: No      |
| Southern Co.                                               | Southern Co., 2.950%, due 07/01/23                                                                           | CUSIP: 842587CU9<br>LEI: 549300FC3G3YU2FBZD92 | Long             | DBT              | CORP              | US        |    100000 | PA      | $98881.79     | 1.01%             | 2023-07-01      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| Southwest Airlines Co.                                     | Southwest Airlines Co., 5.250%, due 05/04/25                                                                 | CUSIP: 844741BJ6<br>LEI: UDTZ87G0STFETI6HGH41 | Long             | DBT              | CORP              | US        |    150000 | PA      | $150656.92    | 1.54%             | 2025-05-04      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| State of Illinois                                          | State of Illinois, 4.950%, due 06/01/23                                                                      | CUSIP: 452151LE1<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | CORP              | US        |     20455 | PA      | $20448.21     | 0.21%             | 2023-06-01      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Steel Dynamics, Inc.                                       | Steel Dynamics, Inc., 5.000%, 12/15/26                                                                       | CUSIP: 858119BF6<br>LEI: 549300HGGKEL4FYTTQ83 | Long             | DBT              | CORP              | US        |    150000 | PA      | $147758.74    | 1.51%             | 2026-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Stratford, CT                                              | Stratford CT Taxable, 5.750%, due 08/15/30                                                                   | CUSIP: 8628114A1<br>LEI: 549300A6A1N73WLV0K30 | Long             | DBT              | CORP              | US        |     20000 | PA      | $20110.80     | 0.21%             | 2030-08-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Sysco Corp.                                                | Sysco Corp., 6.500%, due 08/01/28                                                                            | CUSIP: 871829AF4<br>LEI: 5RGWIFLMGH3YS7KWI652 | Long             | DBT              | CORP              | US        |    152000 | PA      | $161221.43    | 1.65%             | 2028-08-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| State of Texas                                             | Texas St. Taxable Refunding Public Finance Authority Series C, 2.531%, due 10/01/23                          | CUSIP: 882723A74<br>LEI: 549300X9CH74QB747L76 | Long             | DBT              | CORP              | US        |     35000 | PA      | $34477.45     | 0.35%             | 2023-10-01      | Fixed         | 2.53%                 | No            |                  2 | On Loan: No      |
| The Walt Disney Co.                                        | The Walt Disney Co., 7.700%, 10/30/2025                                                                      | CUSIP: 254687DF0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    400000 | PA      | $430662.96    | 4.41%             | 2025-10-30      | Fixed         | 7.70%                 | No            |                  2 | On Loan: No      |
| Thomson Reuters Corporation                                | Thomson Reuters Corp., 3.850%, due 09/29/24                                                                  | CUSIP: 884903BT1<br>LEI: 549300561UZND4C7B569 | Long             | DBT              | CORP              | CA        |    100000 | PA      | $96872.84     | 0.99%             | 2024-09-26      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| Truist Financial Corp.                                     | Truist Financial Corp. Series M, 5.125%, to 12/15/27                                                         | CUSIP: 89832QAC3<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |    100000 | PA      | $82254.41     | 0.84%             | 2027-12-15      | Variable      | 5.13%                 | No            |                  2 | On Loan: No      |
| Truist Financial Corp.                                     | Truist Financial Corp. Series Q, 5.100%, to 03/01/30                                                         | CUSIP: 89832QAF6<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |     75000 | PA      | $67200.00     | 0.69%             | 2030-03-01      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| US Bancorp                                                 | US Bancorp, 3.700%, to 01/15/27                                                                              | CUSIP: 902973BC9<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |    200000 | PA      | $159544.00    | 1.63%             | 2027-01-15      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| United Rentals, Inc.                                       | United Rentals, Inc., 3.875%, due 11/15/27                                                                   | CUSIP: 911365BM5<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |    150000 | PA      | $137479.50    | 1.41%             | 2027-11-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| VMWare, Inc.                                               | VMWare, Inc. 3.900%, due 08/21/27                                                                            | CUSIP: 928563AC9<br>LEI: 549300BUDHS3LRWBE814 | Long             | DBT              | CORP              | US        |    150000 | PA      | $140932.32    | 1.44%             | 2027-08-21      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| Virginia Resources Authority                               | Virginia St Resources Auth Infrastructure Revenue, 1.972%, 11/01/2023                                        | CUSIP: 92818NHJ0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    150000 | PA      | $146890.50    | 1.50%             | 2023-11-01      | Fixed         | 1.97%                 | No            |                  2 | On Loan: No      |
| Warsaw Redevelopment District Tax, Inc.                    | Warsaw Industry Redevelopment District Tax Taxable Special Taxing District Series A, 4.750%, due 02/01/26    | CUSIP: 93638TBL4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     25000 | PA      | $24262.00     | 0.25%             | 2026-02-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| iShares Trust                                              | iShares US Preferred Stock ETF                                                                               | CUSIP: 464288687<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |      1000 | NS      | $31850.00     | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2022-11-30

**Name of Applicant:** Archer Investment Series Trust

**Signature:** /s/ Troy C. Patton

**Name of Signer:** Troy C. Patton

**Title:** President