| F/M INVESTMENTS LARGE CAP FOCUSED FUND | ||||
| SCHEDULE OF INVESTMENTS | ||||
| September 30, 2023 (Unaudited) | ||||
| COMMON STOCKS - 96.0% | Shares | Value | ||
| Communications - 13.4% | ||||
| Alphabet, Inc. - Class A (a) | 21,313 | $ 2,789,019 | ||
| Meta Platforms, Inc. - Class A (a) | 7,377 | 2,214,649 | ||
| Netflix, Inc. (a) | 5,244 | 1,980,135 | ||
| 6,983,803 | ||||
| Consumer Discretionary - 12.2% | ||||
| Amazon.com, Inc. (a) | 34,577 | 4,395,428 | ||
| McDonald's Corporation | 4,077 | 1,074,045 | ||
| Wynn Resorts Ltd. | 9,651 | 891,849 | ||
| 6,361,322 | ||||
| Energy - 1.2% | ||||
| First Solar, Inc. (a) | 3,725 | 601,923 | ||
| Health Care - 14.1% | ||||
| Align Technology, Inc. (a) | 5,068 | 1,547,362 | ||
| Cardinal Health, Inc. | 12,261 | 1,064,500 | ||
| HCA Healthcare, Inc. | 4,358 | 1,071,981 | ||
| Intuitive Surgical, Inc. (a) | 4,108 | 1,200,727 | ||
| Penumbra, Inc. (a) | 6,377 | 1,542,660 | ||
| Stryker Corporation | 3,342 | 913,268 | ||
| 7,340,498 | ||||
| Industrials - 2.2% | ||||
| TransDigm Group, Inc. (a) | 1,328 | 1,119,677 | ||
| Technology - 52.9% | ||||
| Adobe, Inc. (a) | 4,641 | 2,366,446 | ||
| Advanced Micro Devices, Inc. (a) | 15,913 | 1,636,175 | ||
| Apple, Inc. | 35,064 | 6,003,308 | ||
| Datadog, Inc. - Class A (a) | 15,089 | 1,374,457 | ||
| Microsoft Corporation | 17,971 | 5,674,343 | ||
| MongoDB, Inc. (a) | 3,580 | 1,238,179 | ||
| NVIDIA Corporation | 5,429 | 2,361,561 | ||
| Palo Alto Networks, Inc. (a) | 5,801 | 1,359,986 | ||
| Salesforce, Inc. (a) | 5,435 | 1,102,109 | ||
| ServiceNow, Inc. (a) | 2,343 | 1,309,643 | ||
| Synopsys, Inc. (a) | 2,472 | 1,134,574 | ||
| F/M INVESTMENTS LARGE CAP FOCUSED FUND | ||||
| SCHEDULE OF INVESTMENTS (Continued) | ||||
| COMMON STOCKS - 96.0% (Continued) | Shares | Value | ||
| Technology - 52.9% (Continued) | ||||
| Unity Software, Inc. (a) | 24,864 | $ 780,481 | ||
| Workday, Inc. - Class A (a) | 5,538 | 1,189,839 | ||
| 27,531,101 | ||||
| Total Common Stocks (Cost $47,496,597) | $ 49,938,324 | |||
| MONEY MARKET FUNDS - 4.2% | Shares | Value | ||
| First American Treasury Obligations Fund - Class X, 5.27% (b) (Cost $2,176,931) | 2,176,931 | $ 2,176,931 | ||
| Total Investments at Value - 100.2% (Cost $49,673,528) | $ 52,115,255 | |||
| Liabilities in Excess of Other Assets - (0.2%) | (115,194) | |||
| Net Assets - 100.0% | $ 52,000,061 | |||
| (a) | Non-income producing security. |
| (b) | The rate shown is the 7-day effective yield as of September 30, 2023. |
