NPORT-EX 2 waycrossnport_-_992910.htm WAYCROSS SOI 05-31-21

 

WAYCROSS LONG/SHORT EQUITY FUND
SCHEDULE OF INVESTMENTS
May 31, 2021 (Unaudited)
 
COMMON STOCKS - 91.0% Shares Value
Communications - 7.0%    
Entertainment Content - 2.8%    
Activision Blizzard, Inc. 3,150   $ 306,337  
Discovery, Inc. - Series A (a) 3,054   98,064  
Walt Disney Company (The) (a) 13,304   2,376,760  
        2,781,161  
Internet Media & Services - 4.2%    
Alphabet, Inc. - Class A (a) (b) 937   2,208,368  
Facebook, Inc. - Class A (a) (b) 5,811   1,910,250  
        4,118,618  
Consumer Discretionary - 7.7%    
E-Commerce Discretionary - 2.3%    
Amazon.com, Inc. (a) (b) 628   2,024,088  
MercadoLibre, Inc. (a) 220   298,908  
        2,322,996  
Leisure Facilities & Services - 1.5%    
Cheesecake Factory, Inc. (The) (a) 2,566   150,932  
McDonald's Corporation 2,185   511,050  
Papa John's International, Inc. 3,090   290,305  
Starbucks Corporation 4,500   512,460  
        1,464,747  
Leisure Products - 0.6%    
Peloton Interactive, Inc. - Class A (a) 5,000   551,550  
       
Retail - Discretionary - 3.3%    
lululemon athletica, inc. (a) 1,490   481,464  
Ross Stores, Inc. 11,621   1,468,778  
Ulta Beauty, Inc. (a) 3,762   1,299,244  
        3,249,486  
Consumer Staples - 1.8%    
Retail - Consumer Staples - 0.5%    
Costco Wholesale Corporation 1,330   503,099  
       
Wholesale - Consumer Staples - 1.3%    
Sysco Corporation (b) 15,128   1,225,368  
       
Energy - 2.4%    
Oil & Gas Producers - 2.4%    
Diamondback Energy, Inc. 16,500   1,321,155  
 
 

 

WAYCROSS LONG/SHORT EQUITY FUND
SCHEDULE OF INVESTMENTS (Continued)
 
COMMON STOCKS - 91.0% (Continued) Shares Value
Energy - 2.4% (Continued)    
Oil & Gas Producers - 2.4% (Continued)    
Valero Energy Corporation 13,500   $ 1,085,400  
        2,406,555  
Financials - 11.3%    
Banking - 7.9%    
Bank of America Corporation (b) 47,136   1,998,095  
Citigroup, Inc. 30,416   2,394,043  
PNC Financial Services Group, Inc. (The) (b) 8,533   1,661,204  
U.S. Bancorp 29,156   1,772,102  
        7,825,444  
Institutional Financial Services - 3.4%    
Goldman Sachs Group, Inc. (The) (b) 9,096   3,383,894  
       
Health Care - 18.5%    
Biotech & Pharma - 11.1%    
AbbVie, Inc. (b) 22,840   2,585,488  
BioMarin Pharmaceutical, Inc. (a) 4,600   355,580  
Elanco Animal Health, Inc. (a) (b) 92,821   3,339,700  
Eli Lilly & Company (b) 8,835   1,764,703  
Gilead Sciences, Inc. 14,000   925,540  
Sage Therapeutics, Inc. (a) 3,700   257,520  
Vertex Pharmaceuticals, Inc. (a) 2,951   615,667  
Viatris, Inc. 73,700   1,123,188  
        10,967,386  
Health Care Facilities & Services - 2.4%    
AmerisourceBergen Corporation 8,000   917,920  
CVS Health Corporation 12,400   1,071,856  
Humana, Inc. 1,000   437,700  
        2,427,476  
Medical Equipment & Devices - 5.0%    
Danaher Corporation 4,500   1,152,630  
DexCom, Inc. (a) 1,100   406,329  
Edwards Lifesciences Corporation (a) (b) 16,159   1,549,648  
Medtronic plc 14,297   1,809,857  
        4,918,464  
Industrials - 10.6%    
Engineering & Construction - 0.8%    
Fluor Corporation (a) 42,146   779,701  
       
 
 

 

WAYCROSS LONG/SHORT EQUITY FUND
SCHEDULE OF INVESTMENTS (Continued)
 
COMMON STOCKS - 91.0% (Continued) Shares Value
Industrials - 10.6% (Continued)    
Machinery - 2.0%    
Caterpillar, Inc. 8,111   $ 1,955,400  
       
Transportation & Logistics - 7.8%    
Delta Air Lines, Inc. (a) 32,401   1,544,880  
FedEx Corporation 9,065   2,853,753  
Norfolk Southern Corporation 6,616   1,858,434  
Southwest Airlines Company (a) 23,600   1,450,456  
        7,707,523  
Materials - 4.0%    
Chemicals - 2.7%    
Dow, Inc. 21,000   1,436,820  
Nutrien Ltd. 20,000   1,243,000  
        2,679,820  
Containers & Packaging - 1.3%    
WestRock Company 22,500   1,312,200  
       
Technology - 27.7%    
Semiconductors - 5.6%    
Analog Devices, Inc. (b) 11,837   1,948,370  
Broadcom, Inc. 2,700   1,275,291  
NVIDIA Corporation 2,962   1,924,649  
Xilinx, Inc. (b) 3,499   444,373  
        5,592,683  
Software - 9.4%    
Adobe, Inc. (a) (b) 6,268   3,162,707  
Autodesk, Inc. (a) 1,400   400,204  
Intuit, Inc. 1,200   526,908  
Microsoft Corporation (b) 14,537   3,629,598  
salesforce.com, Inc. (a) 6,646   1,582,413  
        9,301,830  
Technology Hardware - 6.0%    
Apple, Inc. (b) 18,990   2,366,344  
Hewlett Packard Enterprise Company 78,000   1,244,880  
NetApp, Inc. 13,100   1,013,547  
Seagate Technology Holdings plc 13,600   1,302,200  
        5,926,971  
Technology Services - 6.7%    
Fiserv, Inc. (a) 6,500   748,800  
Mastercard, Inc. - Class A (b) 6,312   2,275,981  
 
 

 

WAYCROSS LONG/SHORT EQUITY FUND
SCHEDULE OF INVESTMENTS (Continued)
 
COMMON STOCKS - 91.0% (Continued) Shares Value
Technology - 27.7% (Continued)    
Technology Services - 6.7% (Continued)    
PayPal Holdings, Inc. (a) (b) 9,149   $ 2,378,923  
Visa, Inc. - Class A 5,200   1,181,960  
        6,585,664  
   
Total Common Stocks (Cost $60,476,701) $ 89,988,036  
         
         
MONEY MARKET FUNDS - 9.3% Shares Value
Fidelity Institutional Money Market Government Portfolio -              Class I, 0.01% (c) (Cost $9,168,320) 9,168,320   $ 9,168,320  
         
Investments at Value - 100.3% (Cost $69,645,021) $ 99,156,356  
       
Liabilities in Excess of Other Assets - (0.3%)       (264,784 )
       
Net Assets - 100.0% $ 98,891,572  
 

 

 

(a) Non-income producing security.
(b) All or a portion of this security is pledged as collateral for open short positions.  The total value of such securities as of May 31, 2021 was $26,883,036.
(c) The rate shown is the 7-day effective yield as of May 31, 2021.

 

 

 

 

 

 

 
 

 

 

WAYCROSS LONG/SHORT EQUITY FUND
SCHEDULE OF SECURITIES SOLD SHORT
May 31, 2021 (Unaudited)
 
COMMON STOCKS - 34.6% Shares Value
Communications - 1.2%    
Entertainment Content - 0.5%    
Electronic Arts, Inc. 3,540   $ 505,972  
       
Publishing & Broadcasting - 0.7%    
New York Times Company (The) - Class A 16,510   706,958  
       
Consumer Discretionary - 2.4%    
Automotive - 0.8%    
Harley-Davidson, Inc. 3,899   188,984  
Tesla, Inc. 1,000   625,220  
        814,204  
Consumer Services - 0.6%    
DoorDash, Inc. - Class A 4,185   628,922  
       
E-Commerce Discretionary - 0.3%    
Wayfair, Inc. - Class A 920   282,017  
         
Leisure Facilities & Services - 0.4%    
Cracker Barrel Old Country Store, Inc. 624   98,417  
Wynn Resorts Ltd. 1,985   261,762  
        360,179  
Retail - Discretionary - 0.3%    
Best Buy Company, Inc. 2,470   287,113  
       
Consumer Staples - 1.4%    
Food - 0.4%    
Beyond Meat, Inc. 2,815   409,357  
       
Retail - Consumer Staples - 1.0%    
Walgreens Boots Alliance, Inc. 19,000   1,000,540  
       
Energy - 3.8%    
Oil & Gas Services & Equipment - 3.8%    
Halliburton Company 56,900   1,277,405  
Helmerich & Payne, Inc. 41,200   1,163,900  
 
 

 

WAYCROSS LONG/SHORT EQUITY FUND
SCHEDULE OF SECURITIES SOLD SHORT (Continued)
COMMON STOCKS - 34.6% (Continued) Shares Value
Energy - 3.8% (Continued)    
Oil & Gas Services & Equipment - 3.8% (Continued)    
NOV, Inc. 79,100   $ 1,275,092  
        3,716,397  
Health Care - 7.5%    
Biotech & Pharma - 3.0%    
Johnson & Johnson 5,300   897,025  
Pfizer, Inc. 31,200   1,208,376  
Zoetis, Inc. 4,800   848,064  
        2,953,465  
Health Care Facilities & Services - 1.0%    
Henry Schein, Inc. 6,600   501,864  
Teladoc Health, Inc. 2,900   436,682  
        938,546  
Medical Equipment & Devices - 3.5%    
Baxter International, Inc. 7,700   632,324  
Becton, Dickinson and Company 2,600   628,914  
Boston Scientific Corporation 16,000   680,800  
PerkinElmer, Inc. 5,000   725,350  
Stryker Corporation 3,276   836,265  
        3,503,653  
Industrials - 5.5%    
Commercial Support Services - 1.4%    
Stericycle, Inc. 17,500   1,374,800  
       
Industrial Support Services - 1.3%    
Fastenal Company 23,700   1,257,048  
       
Machinery - 2.1%    
Roper Technologies, Inc. 4,630   2,083,546  
       
Transportation & Logistics - 0.7%    
Knight-Swift Transportation Holdings, Inc. 14,800   706,404  
       
Materials - 2.0%    
Chemicals - 2.0%    
Ecolab, Inc. 9,220   1,983,038  
       
Technology - 10.8%    
Semiconductors - 3.1%    
Applied Materials, Inc. 8,100   1,118,853  
 
 

 

WAYCROSS LONG/SHORT EQUITY FUND
SCHEDULE OF SECURITIES SOLD SHORT (Continued)
COMMON STOCKS - 34.6% (Continued) Shares Value
Technology - 10.8% (Continued)    
Semiconductors - 3.1% (Continued)    
Texas Instruments, Inc. 10,500   $ 1,993,110  
        3,111,963  
Software - 3.5%    
Atlassian Corporation plc - Class A 1,750   408,240  
DocuSign, Inc. 2,100   423,402  
Oracle Corporation 7,800   614,172  
VMware, Inc. - Class A 6,000   947,340  
Workday, Inc. - Class A 2,650   606,108  
Zoom Video Communications, Inc. - Class A 1,400   464,142  
        3,463,404  
Technology Hardware - 2.8%    
Cisco Systems, Inc. 21,000   1,110,900  
HP, Inc. 36,500   1,066,895  
Juniper Networks, Inc. 22,000   579,260  
        2,757,055  
Technology Services - 1.4%    
Accenture plc - Class A 4,963   1,400,360  
       
Total Securities Sold Short - 34.6% (Proceeds $29,651,573) $ 34,244,941  
 

 

 

 

 

 

 

 

 

 

 

 

 
 

 

 

WAYCROSS FOCUSED EQUITY FUND
SCHEDULE OF INVESTMENTS
May 31, 2021 (Unaudited)
 
COMMON STOCKS - 96.5% Shares Value
Communications - 10.1%    
Entertainment Content - 2.9%    
Walt Disney Company (The) (a) 175   $ 31,264  
       
Internet Media & Services - 7.2%    
Alphabet, Inc. - Class A (a) 18   42,423  
Facebook, Inc. - Class A (a) 111   36,489  
        78,912  
Consumer Discretionary - 8.2%    
E-Commerce Discretionary - 3.5%    
Amazon.com, Inc. (a) 12   38,677  
       
Retail - Discretionary - 4.7%    
Ross Stores, Inc. 209   26,415  
Ulta Beauty, Inc. (a) 72   24,866  
        51,281  
Consumer Staples - 2.3%    
Wholesale - Consumer Staples - 2.3%    
Sysco Corporation 312   25,272  
       
Financials - 15.6%    
Banking - 12.0%    
Bank of America Corporation 862   36,540  
Citigroup, Inc. 346   27,234  
PNC Financial Services Group, Inc. (The) 181   35,237  
U.S. Bancorp 527   32,031  
        131,042  
Institutional Financial Services - 3.6%    
Goldman Sachs Group, Inc. (The) 105   39,062  
       
Health Care - 15.7%    
Biotech & Pharma - 9.7%    
AbbVie, Inc. 293   33,168  
Elanco Animal Health, Inc. (a) 1,024   36,844  
Eli Lilly & Company 179   35,753  
        105,765  
Medical Equipment & Devices - 6.0%    
Edwards Lifesciences Corporation (a) 330   31,647  
 
 

 

WAYCROSS FOCUSED EQUITY FUND
SCHEDULE OF INVESTMENTS (Continued)
 
COMMON STOCKS - 96.5% (Continued) Shares Value
Health Care - 15.7% (Continued)    
Medical Equipment & Devices - 6.0% (Continued)    
Medtronic plc 271   $ 34,306  
        65,953  
Industrials - 13.8%    
Engineering & Construction - 1.4%    
Fluor Corporation (a) 829   15,337  
       
Machinery - 3.7%    
Caterpillar, Inc. 169   40,743  
       
Transportation & Logistics - 8.7%    
Delta Air Lines, Inc. (a) 548   26,128  
FedEx Corporation 100   31,481  
Norfolk Southern Corporation 132   37,079  
        94,688  
Technology - 30.8%    
Semiconductors - 9.9%    
Analog Devices, Inc. 220   36,212  
NVIDIA Corporation 64   41,586  
Xilinx, Inc. 241   30,607  
        108,405  
Software - 8.1%    
Adobe, Inc. (a) 68   34,312  
Microsoft Corporation 218   54,430  
        88,742  
Technology Hardware - 5.3%    
Apple, Inc. 458   57,071  
       
Technology Services - 7.5%    
Mastercard, Inc. - Class A 103   37,140  
PayPal Holdings, Inc. (a) 171   44,463  
        81,603  
   
Total Common Stocks (Cost $970,382) $ 1,053,817  
         
         
 
 

 

WAYCROSS FOCUSED EQUITY FUND
SCHEDULE OF INVESTMENTS (Continued)
 
MONEY MARKET FUNDS - 18.3% Shares Value
Fidelity Institutional Money Market Government Portfolio - Class I, 0.01% (b) (Cost $199,576) 199,576   $ 199,576  
         
Investments at Value - 114.8% (Cost $1,169,958) $ 1,253,393  
       
Liabilities in Excess of Other Assets - (14.8%)       (161,034 )
       
Net Assets - 100.0% $ 1,092,359  
 

 

 

 

 

 

 

 

(a) Non-income producing security.
(b) The rate shown is the 7-day effective yield as of May 31, 2021.