White
Oak
Select
Growth
Fund
Schedule
of
Investments
July
31,
2025
(Unaudited)
COMMON
STOCKS
-
95.91%
Shares
Fair
Value
COMMUNICATIONS
-
17.00%
Internet
Media
&
Services
-
17.00%
Alphabet,
Inc.
-
Class
A
95,702
$
18,365,214
Alphabet,
Inc.
-
Class
C
122,396
23,605,293
Meta
Platforms,
Inc.
-
Class
A
39,980
30,922,131
72,892,638
CONSUMER
DISCRETIONARY
-
14.02%
E-Commerce
Discretionary
-
9.33%
Amazon.com,
Inc.
(a)
170,913
40,012,443
Retail
-
Discretionary
-
4.69%
Lowe's
Companies,
Inc.
90,000
20,121,300
FINANCIALS
-
19.39%
Asset
Management
-
7.16%
Charles
Schwab
Corp.
(The)
314,100
30,696,993
Banking
-
7.39%
JPMorgan
Chase
&
Co.
106,957
31,684,942
Institutional
Financial
Services
-
1.18%
State
Street
Corp.
45,300
5,062,275
Insurance
-
3.66%
Chubb
Ltd.
58,937
15,679,599
HEALTH
CARE
-
18.12%
Biotech
&
Pharma
-
8.70%
Amgen,
Inc.
82,460
24,333,946
Novartis
AG
-
ADR
(a)(b)
114,060
12,973,184
37,307,130
Health
Care
Facilities
&
Services
-
4.95%
Cigna
Corp.
32,952
8,810,706
Labcorp
Holdings,
Inc.
47,770
12,424,021
21,234,727
Medical
Equipment
&
Devices
-
4.47%
Alcon,
Inc.
(a)(b)
138,000
12,081,900
Zimmer
Biomet
Holdings,
Inc.
(b)
77,390
7,092,794
19,174,694
TECHNOLOGY
-
27.38%
Semiconductors
-
15.70%
Broadcom,
Inc.
40,000
11,748,000
KLA
Corp.
26,628
23,406,811
NXP
Semiconductors
NV
66,513
14,218,484
QUALCOMM,
Inc.
122,300
17,948,748
67,322,043
Software
-
2.55%
Microsoft
Corp.
20,500
10,936,750
Technology
Hardware
-
5.24%
Cisco
Systems,
Inc.
330,000
22,466,400
White
Oak
Select
Growth
Fund
Schedule
of
Investments
(continued)
July
31,
2025
(Unaudited)
COMMON
STOCKS
-
95.91%
(Continued)
Shares
Fair
Value
TECHNOLOGY
-
27.38%
(Continued)
Technology
Services
-
3.89%
Cognizant
Technology
Solutions
Corp.
-
Class
A
100,000
$
7,176,000
Visa,
Inc.
-
Class
A
27,475
9,491,788
16,667,788
TOTAL
COMMON
STOCKS
(Cost $158,341,129)
411,259,722
SHORT-TERM
INVESTMENTS
-
10.96%
Shares
or
Principal
($)
Fair
Value
REPURCHASE
AGREEMENTS
-
4.07%
Tri-Party
Repurchase
Agreement
with
South
Street
Securities
LLC
and
Bank
of
New
York
Mellon,
4.00%,
dated
7/31/2025
and
maturing
8/1/2025,
collateralized
by
U
.
S
.
Treasury
Securities
with
rates
ranging
from
3.50%
to
4.50%
and
maturity
dates
ranging
from
5/15/2027
to
1/31/2032
with
a
par
value
of
$17,536,612
and
a
collateral
value
of
$17,791,
900
17,443,009
17,443,009
COLLATERAL
FOR
SECURITIES
LOANED
-
6.89%
Mount
Vernon
Liquid
Assets
Portfolio,
LLC,
4.42%
(c)
29,551,549
29,551,549
TOTAL
SHORT-TERM
INVESTMENTS
(Cost $46,994,558)
46,994,558
TOTAL
INVESTMENTS
-
106.87%
(Cost
$205,335,687)
458,254,280
Liabilities
in
Excess
of
Other
Assets - (6.87)%
(29,446,107)
NET
ASSETS
-
100.00%
$
428,808,173
(a)
Non-income
producing
security.
(b)
Security,
or
a
portion
of
the
security
position,
is
currently
on
loan.
The
total
Fair
Value
of
securities
on
loan
is
$28,369,735.
(c)
Rate
disclosed
is
the
seven
day
effective
yield
as
of
July
31,
2025.
ADR
-
American
Depositary
Receipt
Pin
Oak
Equity
Fund
Schedule
of
Investments
July
31,
2025
(Unaudited)
COMMON
STOCKS
-
99.32%
Shares
Fair
Value
COMMUNICATIONS
-
15.04%
Internet
Media
&
Services
-
15.04%
Alphabet,
Inc.
-
Class
A
27,500
$
5,277,250
Alphabet,
Inc.
-
Class
C
41,243
7,954,125
Meta
Platforms,
Inc.
-
Class
A
10,359
8,012,065
21,243,440
CONSUMER
DISCRETIONARY
-
13.44%
E-Commerce
Discretionary
-
11.63%
Amazon.com,
Inc.
(a)
46,556
10,899,225
eBay,
Inc.
60,216
5,524,818
16,424,043
Leisure
Facilities
&
Services
-
1.81%
Flutter
Entertainment
PLC
(a)
8,480
2,563,165
ENERGY
-
1.12%
Oil
&
Gas
Producers
-
1.12%
Coterra
Energy,
Inc.
65,000
1,585,350
FINANCIALS
-
17.97%
Asset
Management
-
6.40%
Charles
Schwab
Corp.
(The)
92,500
9,040,025
Institutional
Financial
Services
-
7.47%
Bank
of
New
York
Mellon
Corp.
(The)
86,745
8,800,280
Northern
Trust
Corp.
13,455
1,749,150
10,549,430
Insurance
-
4.10%
Assurant,
Inc.
30,900
5,787,570
HEALTH
CARE
-
16.74%
Biotech
&
Pharma
-
9.19%
Amgen,
Inc.
18,500
5,459,350
Gilead
Sciences,
Inc.
48,145
5,406,202
Regeneron
Pharmaceuticals,
Inc.
(a)
3,881
2,116,930
12,982,482
Health
Care
Facilities
&
Services
-
7.55%
McKesson
Corp.
11,884
8,242,030
Quest
Diagnostics,
Inc.
14,417
2,413,550
10,655,580
INDUSTRIALS
-
7.12%
Electrical
Equipment
-
4.96%
Amphenol
Corp.
-
Class
A
65,720
6,999,837
Industrial
Support
Services
-
1.12%
Applied
Industrial
Technologies,
Inc.
5,815
1,578,773
Machinery
-
1.04%
ESAB
Corp.
(b)
10,997
1,475,467
TECHNOLOGY
-
27.89%
Semiconductors
-
6.28%
Cirrus
Logic,
Inc.
(a)
11,836
1,192,003
Pin
Oak
Equity
Fund
Schedule
of
Investments
(continued)
July
31,
2025
(Unaudited)
COMMON
STOCKS
-
99.32%
(Continued)
Shares
Fair
Value
TECHNOLOGY
-
27.89%
(Continued)
Semiconductors
-
6.28%
(Continued)
KLA
Corp.
8,729
$
7,673,053
8,865,056
Software
-
7.82%
Akamai
Technologies,
Inc.
(a)
27,507
2,099,059
Microsoft
Corp.
10,953
5,843,426
Zscaler,
Inc.
(a)
10,872
3,104,608
11,047,093
Technology
Services
-
13.79%
Amdocs
Ltd.
66,587
5,683,867
Paychex,
Inc.
34,649
5,000,890
Visa,
Inc.
-
Class
A
25,443
8,789,793
19,474,550
TOTAL
COMMON
STOCKS
(Cost $54,917,255)
140,271,861
SHORT-TERM
INVESTMENTS
-
1.12%
Shares
or
Principal
($)
Fair
Value
REPURCHASE
AGREEMENTS
-
0.69%
Tri-Party
Repurchase
Agreement
with
South
Street
Securities
LLC
and
Bank
of
New
York
Mellon,
4.00%,
dated
7/31/2025
and
maturing
8/1/2025,
collateralized
by
U.S.
Treasury
Securities
with
rates
ranging
from
3.50%
to
4.50%
and
maturity
dates
ranging
from
5/15/2027
to
1/31/2032
with
a
par
value
of
$979,446
and
a
collateral
value
of
$993,704
974,218
974,218
COLLATERAL
FOR
SECURITIES
LOANED
-
0.43%
Mount
Vernon
Liquid
Assets
Portfolio,
LLC,
4.42%
(c)
604,027
604,027
TOTAL
SHORT-TERM
INVESTMENTS
(Cost $1,578,245)
1,578,245
TOTAL
INVESTMENTS
-
100.44%
(Cost
$56,495,500)
141,850,106
Liabilities
in
Excess
of
Other
Assets - (0.44)%
(622,923)
NET
ASSETS
-
100.00%
$
141,227,183
(a)
Non-income
producing
security.
(b)
Security,
or
a
portion
of
the
security
position,
is
currently
on
loan.
The
total
Fair
Value
of
securities
on
loan
is
$599,203.
(c)
Rate
disclosed
is
the
seven
day
effective
yield
as
of
July
31,
2025.
Rock
Oak
Core
Growth
Fund
Schedule
of
Investments
July
31,
2025
(Unaudited)
COMMON
STOCKS
-
98.41%
Shares
Fair
Value
CONSUMER
DISCRETIONARY
-
2.58%
Wholesale
-
Discretionary
-
2.58%
Pool
Corp.
(a)
1,030
$
317,384
ENERGY
-
3.02%
Oil
&
Gas
Producers
-
3.02%
Murphy
USA,
Inc.
1,024
371,180
FINANCIALS
-
14.38%
Institutional
Financial
Services
-
5.52%
Northern
Trust
Corp.
2,476
321,880
Virtu
Financial,
Inc.
-
Class
A
8,100
357,534
679,414
Insurance
-
8.86%
Assurant,
Inc.
1,830
342,759
Hartford
Financial
Services
Group,
Inc.
(The)
6,000
746,340
1,089,099
HEALTH
CARE
-
20.30%
Biotech
&
Pharma
-
9.88%
Exelixis,
Inc.
(b)
15,176
549,675
Jazz
Pharmaceuticals
PLC
(b)
4,005
459,093
Viatris,
Inc.
23,547
205,801
1,214,569
Health
Care
Facilities
&
Services
-
10.42%
Cardinal
Health,
Inc.
5,000
776,100
Quest
Diagnostics,
Inc.
3,015
504,741
1,280,841
INDUSTRIALS
-
31.03%
Aerospace
&
Defense
-
4.15%
TransDigm
Group,
Inc.
317
509,882
Commercial
Support
Services
-
4.36%
Republic
Services,
Inc.
2,323
535,800
Electrical
Equipment
-
3.71%
BWX
Technologies,
Inc.
(a)
3,000
455,790
Industrial
Support
Services
-
4.27%
Applied
Industrial
Technologies,
Inc.
1,936
525,624
Machinery
-
14.54%
Curtiss-Wright
Corp.
1,434
702,975
ESAB
Corp.
(a)
3,618
485,427
Nordson
Corp.
1,839
393,932
Symbotic,
Inc.
(a)(b)
3,808
205,442
1,787,776
MATERIALS
-
7.95%
Chemicals
-
3.90%
CF
Industries
Holdings,
Inc.
5,159
478,910
Construction
Materials
-
4.05%
Carlisle
Companies,
Inc.
(a)
1,405
498,367
Rock
Oak
Core
Growth
Fund
Schedule
of
Investments
(continued)
July
31,
2025
(Unaudited)
COMMON
STOCKS
-
98.41%
(Continued)
Shares
Fair
Value
TECHNOLOGY
-
19.15%
Software
-
5.02%
Veeva
Systems,
Inc.
-
Class
A
(b)
900
$
255,780
Zscaler,
Inc.
(b)
1,264
360,948
616,728
Technology
Hardware
-
9.30%
F5,
Inc.
(b)
2,070
648,779
NetApp,
Inc.
4,748
494,409
1,143,188
Technology
Services
-
4.83%
Amdocs
Ltd.
3,602
307,467
Cognizant
Technology
Solutions
Corp.
-
Class
A
4,000
287,040
594,507
TOTAL
COMMON
STOCKS
(Cost $6,827,850)
12,099,059
SHORT-TERM
INVESTMENTS
-
18.38%
Shares
or
Principal
($)
Fair
Value
REPURCHASE
AGREEMENTS
-
1.65%
Tri-Party
Repurchase
Agreement
with
South
Street
Securities
LLC
and
Bank
of
New
York
Mellon,
4.00%,
dated
7/31/2025
and
maturing
8/1/2025,
collateralized
by
U.S.
Treasury
Securities
with
rates
ranging
from
3.50%
to
4.50%
and
maturity
dates
ranging
from
5/15/2027
to
1/31/2032
with
a
par
value
of
$204,574
and
a
collateral
value
of
$207,553
203,483
203,483
COLLATERAL
FOR
SECURITIES
LOANED
-
16.73%
Mount
Vernon
Liquid
Assets
Portfolio,
LLC,
4.42%
(c)
2,056,653
2,056,653
TOTAL
SHORT-TERM
INVESTMENTS
(Cost $2,260,136)
2,260,136
TOTAL
INVESTMENTS
-
116.79%
(Cost
$9,087,986)
14,359,195
Liabilities
in
Excess
of
Other
Assets - (16.79)%
(2,063,860)
NET
ASSETS
-
100.00%
$
12,295,335
(a)
Security,
or
a
portion
of
the
security
position,
is
currently
on
loan.
The
total
Fair
Value
of
securities
on
loan
is
$1,942,074.
(b)
Non-income
producing
security.
(c)
Rate
disclosed
is
the
seven
day
effective
yield
as
of
July
31,
2025.
River
Oak
Discovery
Fund
Schedule
of
Investments
July
31,
2025
(Unaudited)
COMMON
STOCKS
-
95.03%
Shares
Fair
Value
CONSUMER
DISCRETIONARY
-
3.74%
Retail
-
Discretionary
-
3.74%
Asbury
Automotive
Group,
Inc.
(a)
3,380
$
750,766
CONSUMER
STAPLES
-
1.19%
Household
Products
-
1.19%
Energizer
Holdings,
Inc.
10,603
238,780
FINANCIALS
-
17.03%
Asset
Management
-
7.87%
AllianceBernstein
Holding
LP
21,518
877,719
Artisan
Partners
Asset
Management,
Inc.
-
Class
A
(b)
15,502
701,466
1,579,185
Banking
-
2.88%
Axos
Financial,
Inc.
(a)
6,692
577,854
Insurance
-
6.28%
CNO
Financial
Group,
Inc.
(a)
19,434
715,948
Selective
Insurance
Group,
Inc.
7,000
545,790
1,261,738
HEALTH
CARE
-
8.77%
Biotech
&
Pharma
-
4.99%
Prestige
Consumer
Healthcare,
Inc.
(a)
13,557
1,002,540
Health
Care
Facilities
&
Services
-
3.78%
Ensign
Group,
Inc.
(The)
5,057
758,550
INDUSTRIALS
-
34.50%
Commercial
Support
Services
-
14.80%
Barrett
Business
Services,
Inc.
30,847
1,418,037
Korn
Ferry
11,359
805,012
V2X,
Inc.
(a)
15,768
747,088
2,970,137
Electrical
Equipment
-
6.05%
Advanced
Energy
Industries,
Inc.
8,735
1,213,466
Industrial
Support
Services
-
4.77%
Applied
Industrial
Technologies,
Inc.
3,530
958,395
Machinery
-
8.88%
ESAB
Corp.
(b)
5,971
801,129
Kadant,
Inc.
(b)
2,948
981,006
1,782,135
TECHNOLOGY
-
29.80%
Semiconductors
-
24.25%
Ambarella,
Inc.
(a)
7,473
493,890
Cirrus
Logic,
Inc.
(a)
9,439
950,602
Cohu,
Inc.
(a)
33,811
603,864
Diodes,
Inc.
(a)
6,980
344,603
Kulicke
&
Soffa
Industries,
Inc.
22,922
750,925
Silicon
Motion
Technology
Corp.
-
ADR
11,192
856,636
Tower
Semiconductor
Ltd.
(a)
18,941
866,551
4,867,071
River
Oak
Discovery
Fund
Schedule
of
Investments
(continued)
July
31,
2025
(Unaudited)
COMMON
STOCKS
-
95.03%
(Continued)
Shares
Fair
Value
TECHNOLOGY
-
29.80%
(Continued)
Software
-
5.55%
Clear
Secure,
Inc.
-
Class
A
(b)
20,198
$
594,023
Intapp,
Inc.
(a)
8,873
355,364
Verint
Systems,
Inc.
(a)
7,788
165,728
1,115,115
TOTAL
COMMON
STOCKS
(Cost $12,057,415)
19,075,732
SHORT-TERM
INVESTMENTS
-
20.94%
Shares
or
Principal
($)
Fair
Value
REPURCHASE
AGREEMENTS
-
5.10%
Tri-Party
Repurchase
Agreement
with
South
Street
Securities
LLC
and
Bank
of
New
York
Mellon,
4.00%,
dated
7/31/2025
and
maturing
8/1/2025,
collateralized
by
U.S.
Treasury
Securities
with
rates
ranging
from
3.50%
to
4.50%
and
maturity
dates
ranging
from
5/15/2027
to
1/31/2032
with
a
par
value
of
$1,028,905
and
a
collateral
value
of
$1,043,883
1,023,413
1,023,413
COLLATERAL
FOR
SECURITIES
LOANED
-
15.84%
Mount
Vernon
Liquid
Assets
Portfolio,
LLC,
4.42%
(c)
3,179,408
3,179,408
TOTAL
SHORT-TERM
INVESTMENTS
(Cost $4,202,821)
4,202,821
TOTAL
INVESTMENTS
-
115.97%
(Cost
$16,260,236)
23,278,553
Liabilities
in
Excess
of
Other
Assets - (15.97)%
(3,206,265)
NET
ASSETS
-
100.00%
$
20,072,288
(a)
Non-income
producing
security.
(b)
Security,
or
a
portion
of
the
security
position,
is
currently
on
loan.
The
total
Fair
Value
of
securities
on
loan
is
$3,046,591.
(c)
Rate
disclosed
is
the
seven
day
effective
yield
as
of
July
31,
2025.
ADR
-
American
Depositary
Receipt
Red
Oak
Technology
Select
Fund
Schedule
of
Investments
July
31,
2025
(Unaudited)
COMMON
STOCKS
-
99.06%
Shares
Fair
Value
COMMUNICATIONS
-
12.70%
Internet
Media
&
Services
-
12.70%
Alphabet,
Inc.
-
Class
A
50,000
$
9,595,000
Alphabet,
Inc.
-
Class
C
248,720
47,968,139
Meta
Platforms,
Inc.
-
Class
A
44,425
34,360,072
91,923,211
CONSUMER
DISCRETIONARY
-
11.66%
E-Commerce
Discretionary
-
11.66%
Amazon.com,
Inc.
(a)
263,000
61,570,930
eBay,
Inc.
249,030
22,848,503
84,419,433
INDUSTRIALS
-
3.90%
Aerospace
&
Defense
-
1.84%
Lockheed
Martin
Corp.
-
Class
B
31,728
13,356,853
Electrical
Equipment
-
2.06%
Amphenol
Corp.
-
Class
A
140,000
14,911,400
TECHNOLOGY
-
70.80%
Semiconductors
-
25.75%
Advanced
Micro
Devices,
Inc.
(a)
90,000
15,867,900
Broadcom,
Inc.
177,840
52,231,608
KLA
Corp.
42,325
37,204,945
NVIDIA
Corp.
288,000
51,226,560
NXP
Semiconductors
NV
113,550
24,273,583
QUALCOMM,
Inc.
38,200
5,606,232
186,410,828
Software
-
25.71%
Adobe
Systems,
Inc.
(a)
38,735
13,855,122
Akamai
Technologies,
Inc.
(a)
101,780
7,766,832
Check
Point
Software
Technologies
Ltd.
(a)
33,700
6,274,940
Microsoft
Corp.
99,403
53,031,500
Oracle
Corp.
262,554
66,628,329
Synopsys,
Inc.
(a)
60,970
38,622,666
186,179,389
Technology
Hardware
-
10.49%
Apple,
Inc.
106,078
22,018,611
Cisco
Systems,
Inc.
500,000
34,040,000
NetApp,
Inc.
191,334
19,923,609
75,982,220
Technology
Services
-
8.85%
Accenture
PLC
-
Class
A
50,118
13,386,518
Global
Payments,
Inc.
78,157
6,248,652
MasterCard,
Inc.
-
Class
A
29,642
16,791,304
Visa,
Inc.
-
Class
A
80,000
27,637,600
64,064,074
TOTAL
COMMON
STOCKS
(Cost $173,426,099)
717,247,408
Red
Oak
Technology
Select
Fund
Schedule
of
Investments
(continued)
July
31,
2025
(Unaudited)
SHORT-TERM
INVESTMENTS
-
1.03%
Shares
or
Principal
($)
Fair
Value
REPURCHASE
AGREEMENTS
-
1.03%
Tri-Party
Repurchase
Agreement
with
South
Street
Securities
LLC
and
Bank
of
New
York
Mellon,
4.00%,
dated
7/31/2025
and
maturing
8/1/2025,
collateralized
by
U.S.
Treasury
Securities
with
rates
ranging
from
3.50%
to
4.50%
and
maturity
dates
ranging
from
5/15/2027
to
1/31/2032
with
a
par
value
of
$7,486,063
and
a
collateral
value
of
$7,595,041
7,446,106
$
7,446,106
TOTAL
SHORT-TERM
INVESTMENTS
(Cost $7,446,106)
7,446,106
TOTAL
INVESTMENTS
-
100.09%
(Cost
$180,872,205)
724,693,514
Liabilities
in
Excess
of
Other
Assets - (0.09)%
(649,616)
NET
ASSETS
-
100.00%
$
724,043,898
(a)
Non-income
producing
security.
Black
Oak
Emerging
Technology
Fund
Schedule
of
Investments
July
31,
2025
(Unaudited)
COMMON
STOCKS
-
93.80%
Shares
Fair
Value
COMMUNICATIONS
-
1.94%
Entertainment
Content
-
1.94%
AppLovin
Corp
-
Class
A
(a)
3,000
$
1,172,100
CONSUMER
DISCRETIONARY
-
7.54%
E-Commerce
Discretionary
-
4.72%
MercadoLibre,
Inc.
(a)(b)
1,200
2,848,668
Leisure
Facilities
&
Services
-
2.82%
Flutter
Entertainment
PLC
(a)
5,622
1,699,306
HEALTH
CARE
-
3.39%
Medical
Equipment
&
Devices
-
3.39%
Intuitive
Surgical,
Inc.
(a)
4,259
2,048,962
INDUSTRIALS
-
8.53%
Electrical
Equipment
-
4.04%
Advanced
Energy
Industries,
Inc.
17,560
2,439,435
Industrial
Support
Services
-
4.49%
Applied
Industrial
Technologies,
Inc.
9,964
2,705,226
TECHNOLOGY
-
72.40%
Information
Technology
-
2.74%
Paylocity
Holdings
Corp.
(a)(b)
8,930
1,650,978
Semiconductors
-
33.07%
Advanced
Micro
Devices,
Inc.
(a)
12,304
2,169,318
Cirrus
Logic,
Inc.
(a)
21,731
2,188,529
Cohu,
Inc.
(a)
59,077
1,055,115
Diodes,
Inc.
(a)(b)
25,770
1,272,265
KLA
Corp.
3,863
3,395,693
Kulicke
&
Soffa
Industries,
Inc.
44,645
1,462,570
Lam
Research
Corp.
24,638
2,336,668
NVIDIA
Corp.
25,160
4,475,209
Silicon
Motion
Technology
Corp.
-
ADR
20,940
1,602,748
19,958,115
Software
-
23.14%
Clear
Secure,
Inc.
-
Class
A
(b)
44,795
1,317,421
Crowdstrike
Holdings,
Inc.
-
Class
A
(a)
5,576
2,534,682
Fortinet,
Inc.
(a)
25,980
2,595,402
Palantir
Technologies,
Inc.
-
Class
A
(a)
7,010
1,110,034
Palo
Alto
Networks,
Inc.
(a)(b)
4,419
767,139
Salesforce,
Inc.
7,994
2,065,090
Veeva
Systems,
Inc.
-
Class
A
(a)
6,396
1,817,743
Zscaler,
Inc.
(a)
6,152
1,756,765
13,964,276
Technology
Hardware
-
5.79%
F5,
Inc.
(a)
11,141
3,491,812
Technology
Services
-
7.66%
Amdocs
Ltd.
20,298
1,732,637
CSG
Systems
International,
Inc.
10,000
624,600
Black
Oak
Emerging
Technology
Fund
Schedule
of
Investments
(continued)
July
31,
2025
(Unaudited)
COMMON
STOCKS
-
93.80%
(Continued)
Shares
Fair
Value
TECHNOLOGY
-
72.40%
(Continued)
Technology
Services
-
7.66%
(Continued)
Jack
Henry
&
Associates,
Inc.
6,981
$
1,185,479
PayPal
Holdings,
Inc.
(a)
15,720
1,080,907
4,623,623
TOTAL
COMMON
STOCKS
(Cost $26,145,556)
56,602,501
SHORT-TERM
INVESTMENTS
-
15.42%
Shares
or
Principal
($)
Fair
Value
REPURCHASE
AGREEMENTS
-
6.28%
Tri-Party
Repurchase
Agreement
with
South
Street
Securities
LLC
and
Bank
of
New
York
Mellon,
4.00%,
dated
7/31/2025
and
maturing
8/1/2025,
collateralized
by
U.S.
Treasury
Securities
with
rates
ranging
from
3.50%
to
4.50%
and
maturity
dates
ranging
from
5/15/2027
to
1/31/2032
with
a
par
value
of
$3,808,946
and
a
collateral
value
of
$3,864,395
3,788,616
3,788,616
COLLATERAL
FOR
SECURITIES
LOANED
-
9.14%
Mount
Vernon
Liquid
Assets
Portfolio,
LLC,
4.42%
(c)
5,515,396
5,515,396
TOTAL
SHORT-TERM
INVESTMENTS
(Cost $9,304,012)
9,304,012
TOTAL
INVESTMENTS
-
109.22%
(Cost
$35,449,568)
65,906,513
Liabilities
in
Excess
of
Other
Assets - (9.22)%
(5,564,659)
NET
ASSETS
-
100.00%
$
60,341,854
(a)
Non-income
producing
security.
(b)
Security,
or
a
portion
of
the
security
position,
is
currently
on
loan.
The
total
Fair
Value
of
securities
on
loan
is
$5,274,758
.
(c)
Rate
disclosed
is
the
seven
day
effective
yield
as
of
July
31,
2025.
ADR
-
American
Depositary
Receipt
Live
Oak
Health
Sciences
Fund
Schedule
of
Investments
July
31,
2025
(Unaudited)
COMMON
STOCKS
-
94.25%
Shares
Fair
Value
HEALTH
CARE
-
94.25%
Biotech
-
26.99%
Amgen,
Inc.
8,889
$
2,623,144
Exelixis,
Inc.
(a)
59,000
2,136,980
Gilead
Sciences,
Inc.
13,718
1,540,394
Incyte
Corp.
(a)
15,890
1,190,002
Regeneron
Pharmaceuticals,
Inc.
(a)
3,190
1,740,017
United
Therapeutics
Corp.
(a)
5,965
1,638,585
Vertex
Pharmaceuticals,
Inc.
(a)
3,925
1,793,215
12,662,337
Health
Care
Facilities
-
6.54%
DaVita,
Inc.
(a)(b)
6,520
915,212
Ensign
Group,
Inc.
(The)
8,037
1,205,550
National
Healthcare
Corp.
9,847
945,607
3,066,369
Health
Care
Services
-
6.97%
Labcorp
Holdings,
Inc.
6,529
1,698,062
Medpace
Holdings,
Inc.
(a)
3,681
1,572,523
3,270,585
Health
Care
Supply
Chain
-
21.05%
Cardinal
Health,
Inc.
15,989
2,481,813
Cencora,
Inc.
8,760
2,506,061
Cigna
Corp.
6,199
1,657,489
McKesson
Corp.
4,663
3,233,977
9,879,340
Large
Pharmaceuticals
-
9.46%
Johnson
&
Johnson
8,463
1,394,195
Merck
&
Co.,
Inc.
13,962
1,090,711
Novartis
AG
-
ADR
(a)(b)
17,194
1,955,646
4,440,552
Life
Science
&
Diagnostics
-
6.21%
Revvity,
Inc.
14,979
1,316,654
Thermo
Fisher
Scientific,
Inc.
3,410
1,594,789
2,911,443
Managed
Care
-
2.37%
Elevance
Health,
Inc.
3,925
1,111,089
Medical
Devices
-
7.34%
Inspire
Medical
Systems,
Inc.
(a)
7,491
932,929
Medtronic
PLC
12,661
1,142,529
Stryker
Corp.
3,479
1,366,308
3,441,766
Medical
Equipment
-
3.69%
Intuitive
Surgical,
Inc.
(a)
3,603
1,733,367
Specialty
&
Generic
Pharmaceuticals
-
3.63%
Jazz
Pharmaceuticals
PLC
(a)
14,849
1,702,141
TOTAL
COMMON
STOCKS
(Cost $26,564,013)
44,218,989
Live
Oak
Health
Sciences
Fund
Schedule
of
Investments
(continued)
July
31,
2025
(Unaudited)
Shares
or
Principal
($)
Fair
Value
SHORT-TERM
INVESTMENTS
-
12.12%
REPURCHASE
AGREEMENTS
-
5.77%
Tri-Party
Repurchase
Agreement
with
South
Street
Securities
LLC
and
Bank
of
New
York
Mellon,
4.00%,
dated
7/31/2025
and
maturing
8/1/2025,
collateralized
by
U.S.
Treasury
Securities
with
rates
ranging
from
3.50%
to
4.50%
and
maturity
dates
ranging
from
5/15/2027
to
1/31/2032
with
a
par
value
of
$2,720,654
and
a
collateral
value
of
$2,760,259
2,706,132
$
2,706,132
COLLATERAL
FOR
SECURITIES
LOANED
-
6.35%
Mount
Vernon
Liquid
Assets
Portfolio,
LLC,
4.42%
(c)
2,977,583
2,977,583
TOTAL
SHORT-TERM
INVESTMENTS
(Cost $5,683,715)
5,683,715
TOTAL
INVESTMENTS
-
106.37%
(Cost
$32,247,728)
49,902,704
Liabilities
in
Excess
of
Other
Assets - (6.37)%
(2,986,625)
NET
ASSETS
-
100.00%
$
46,916,079
(a)
Non-income
producing
security.
(b)
Security,
or
a
portion
of
the
security
position,
is
currently
on
loan.
The
total
Fair
Value
of
securities
on
loan
is
$2,842,030.
(c)
Rate
disclosed
is
the
seven
day
effective
yield
as
of
July
31,
2025.
ADR
-
American
Depositary
Receipt