Oakhurst Short Duration High Yield Credit Fund
Schedule of Investments
November 30, 2024 (Unaudited)
CORPORATE BONDS - 95.9%	Par		Value
Communications - 10.7%
Cincinnati Bell Telephone Co. LLC, 6.30%, 12/01/2028		309,000	$	292,563
Clear Channel Outdoor Holdings, Inc., 9.00%, 09/15/2028 (a)		325,000		345,103
Connect Finco SARL / Connect US Finco LLC, 9.00%, 09/15/2029 (a)		250,000		231,031
Directv Financing LLC, 8.88%, 02/01/2030 (a)(b)		250,000		251,774
DIRECTV Holdings LLC / DIRECTV Financing Co., Inc., 3.95%, 01/15/2025		438,000		435,810
Gray Television, Inc., 10.50%, 07/15/2029 (a)(b)		239,000		243,442
LCPR Senior Secured Financing DAC, 6.75%, 10/15/2027 (a)		250,000		227,721
Level 3 Financing, Inc., 11.00%, 11/15/2029 (a)		300,000		341,258
McGraw-Hill Education, Inc., 5.75%, 08/01/2028 (a)		200,000		196,101
Newfold Digital Holdings Group, Inc., 11.75%, 10/15/2028 (a)		240,000		179,869
Qwest Corp., 7.25%, 09/15/2025		250,000		250,573
Univision Communications, Inc., 6.63%, 06/01/2027 (a)		200,000		199,450
Vmed O2 UK Financing I PLC, 7.75%, 04/15/2032 (a)		250,000		254,019
VZ Secured Financing BV, 5.00%, 01/15/2032 (a)		375,000		335,590
				3,784,304
Consumer Discretionary - 25.9%
Adams Homes, Inc., 9.25%, 10/15/2028 (a)		250,000		263,285
Affinity Interactive, 6.88%, 12/15/2027 (a)		300,000		240,003
Allegiant Travel Co., 7.25%, 08/15/2027 (a)		250,000		249,394
Allied Universal Holdco LLC, 7.88%, 02/15/2031 (a)		325,000		333,091
American Airlines, Inc./AAdvantage Loyalty IP Ltd., 5.75%, 04/20/2029 (a)		340,000		339,740
Benteler International AG, 10.50%, 05/15/2028 (a)		230,000		241,184
Brightline East LLC, 11.00%, 01/31/2030 (a)(b)		250,000		234,403
Cornerstone Building Brands, Inc., 9.50%, 08/15/2029 (a)		250,000		249,832
Crocs, Inc., 4.25%, 03/15/2029 (a)		250,000		232,350
Empire Resorts, Inc., 7.75%, 11/01/2026 (a)		250,000		238,196
Garda World Security Corp., 7.75%, 02/15/2028 (a)		325,000		337,255
Garrett Motion Holdings, Inc. / Garrett LX I Sarl, 7.75%, 05/31/2032 (a)		250,000		252,245
Genting New York LLC / GENNY Capital, Inc., 7.25%, 10/01/2029 (a)		250,000		256,976
GEO Group, Inc., 8.63%, 04/15/2029		250,000		264,620
Goodyear Tire & Rubber Co., 5.00%, 07/15/2029		250,000		234,197
JetBlue Airways Corp. / JetBlue Loyalty LP, 9.88%, 09/20/2031 (a)		230,000		242,172
K Hovnanian Enterprises, Inc., 11.75%, 09/30/2029 (a)		217,000		240,510
Landsea Homes Corp., 8.88%, 04/01/2029 (a)		300,000		307,857
Melco Resorts Finance Ltd., 7.63%, 04/17/2032 (a)		335,000		338,683
Newell Brands, Inc., 7.00%, 04/01/2046		375,000		358,841
PetSmart, Inc. / PetSmart Finance Corp., 4.75%, 02/15/2028 (a)		612,000		584,973
Phinia Holdings Jersey Ltd., 5.00%, 10/01/2025 (a)		695,000		679,851
PROG Holdings, Inc., 6.00%, 11/15/2029 (a)		250,000		244,459
Rakuten Group, Inc., 11.25%, 02/15/2027 (a)		500,000		546,069
Resorts World Las Vegas LLC / RWLV Capital, Inc., 4.63%, 04/16/2029 (a)		300,000		269,074
Staples, Inc., 10.75%, 09/01/2029 (a)		250,000		246,795
Tenneco, Inc., 8.00%, 11/17/2028 (a)		265,000		252,178
United Airlines, Inc., 4.63%, 04/15/2029 (a)		350,000		336,591
Victoria's Secret & Co., 4.63%, 07/15/2029 (a)		250,000		226,322
Wynn Macau Ltd., 5.63%, 08/26/2028 (a)		350,000		334,964
				9,176,110
Consumer Staples - 3.0%
Herbalife Nutrition Ltd. / HLF Financing, Inc., 7.88%, 09/01/2025 (a)		260,000		260,465
Land O'Lakes Capital Trust I, 7.45%, 03/15/2028 (a)(b)		500,000		496,010
Walgreens Boots Alliance, Inc., 8.13%, 08/15/2029 (b)		310,000		312,357
				1,068,832
Energy - 11.3%
California Resources Corp., 8.25%, 06/15/2029 (a)		239,000		245,435
Civitas Resources, Inc., 8.75%, 07/01/2031 (a)		315,000		334,327
CVR Energy, Inc., 8.50%, 01/15/2029 (a)		250,000		245,876
Encino Acquisition Partners Holdings LLC, 8.50%, 05/01/2028 (a)		500,000		512,846
Genesis Energy LP / Genesis Energy Finance Corp., 8.88%, 04/15/2030		325,000		338,943
Hilcorp Energy I LP / Hilcorp Finance Co., 8.38%, 11/01/2033 (a)		325,000		343,587
Martin Midstream Partners LP / Martin Midstream Finance Corp., 11.50%, 02/15/2028 (a)		250,000		272,258
Phillips 66 Partners LP
2.45%, 12/15/2024		20,000		19,977
3.61%, 02/15/2025		529,000		526,818
3.55%, 10/01/2026		5,000		4,789
3.75%, 03/01/2028		73,000		69,522
Summit Midstream Holdings LLC, 8.63%, 10/31/2029 (a)		250,000		261,785
Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp., 7.38%, 02/15/2029 (a)		250,000		254,625
Transocean, Inc., 8.75%, 02/15/2030 (a)		212,500		221,531
Venture Global LNG, Inc., 9.88%, 02/01/2032 (a)		300,000		333,795
				3,986,114
Financials - 20.5%
Acrisure LLC / Acrisure Finance, Inc., 8.25%, 02/01/2029 (a)		250,000		257,073
Alliant Holdings Intermediate LLC / Alliant Holdings Co.-Issuer, 7.00%, 01/15/2031 (a)		325,000		330,326
Antares Holdings LP, 6.35%, 10/23/2029 (a)		250,000		249,680
Armor Holdco, Inc., 8.50%, 11/15/2029 (a)		260,000		261,159
ASG Finance Designated Activity Co., 9.75%, 05/15/2029 (a)		250,000		251,585
First Citizens BancShares, Inc./NC, 3.38% to 03/15/2025 then 3 mo. Term SOFR + 2.47%, 03/15/2030		695,000		689,492
Freedom Mortgage Corp., 12.00%, 10/01/2028 (a)		246,000		267,617
Global Aircraft Leasing Co. Ltd., 8.75%, 09/01/2027 (a)		250,000		256,930
Hightower Holding LLC, 9.13%, 01/31/2030 (a)		250,000		265,732
HUB International Ltd., 5.63%, 12/01/2029 (a)		730,000		711,557
Icahn Enterprises LP / Icahn Enterprises Finance Corp., 9.75%, 01/15/2029		250,000		257,004
Jefferies Finance LLC / JFIN Co.-Issuer Corp., 5.00%, 08/15/2028 (a)		250,000		234,346
MPT Operating Partnership LP / MPT Finance Corp., 5.25%, 08/01/2026		350,000		317,615
Navient Corp., 11.50%, 03/15/2031		300,000		341,634
New York Community Bancorp, Inc., 7.57% (3 mo. Term SOFR + 3.04%), 11/06/2028 (b)		543,000		516,722
Panther Escrow Issuer LLC, 7.13%, 06/01/2031 (a)		325,000		333,194
PRA Group, Inc., 8.88%, 01/31/2030 (a)(b)		250,000		263,088
Rithm Capital Corp., 8.00%, 04/01/2029 (a)		250,000		250,804
Service Properties Trust, 8.88%, 06/15/2032		350,000		336,705
Uniti Group LP / Uniti Group Finance, Inc. / CSL Capital LLC, 10.50%, 02/15/2028 (a)		250,000		265,808
Voya Financial, Inc., 4.70% to 01/23/2028 then 3 mo. LIBOR US + 2.08%, 01/23/2048 (c)		650,000		606,537
				7,264,608
Health Care - 4.1%
AdaptHealth LLC, 4.63%, 08/01/2029 (a)		275,000		251,180
CHS/Community Health Systems, Inc., 5.63%, 03/15/2027 (a)		270,000		261,534
LifePoint Health, Inc., 11.00%, 10/15/2030 (a)		310,000		341,933
Organon & Co. / Organon Foreign Debt Co.-Issuer BV, 6.75%, 05/15/2034 (a)		340,000		343,001
Prime Healthcare Services, Inc., 9.38%, 09/01/2029 (a)		250,000		254,146
				1,451,794
Industrials - 1.7%
Bombardier, Inc., 8.75%, 11/15/2030 (a)		315,000		341,330
Manitowoc Co., Inc., 9.25%, 10/01/2031 (a)		250,000		262,812
				604,142
Materials - 11.5%
Algoma Steel, Inc., 9.13%, 04/15/2029 (a)		240,000		248,272
Chemours Co., 5.38%, 05/15/2027		600,000		590,306
Cleveland-Cliffs, Inc., 7.00%, 03/15/2032 (a)(b)		250,000		251,583
Compass Minerals International, Inc., 6.75%, 12/01/2027 (a)(b)		581,000		585,459
CVR Partners LP / CVR Nitrogen Finance Corp., 6.13%, 06/15/2028 (a)		250,000		243,587
Domtar Corp., 6.75%, 10/01/2028 (a)		270,000		250,137
First Quantum Minerals Ltd., 9.38%, 03/01/2029 (a)		200,000		214,442
LABL, Inc., 9.50%, 11/01/2028 (a)		250,000		252,904
Mercer International, Inc., 5.13%, 02/01/2029		690,000		604,147
Mineral Resources Ltd., 9.25%, 10/01/2028 (a)		325,000		340,819
SunCoke Energy, Inc., 4.88%, 06/30/2029 (a)		250,000		231,172
Taseko Mines Ltd., 8.25%, 05/01/2030 (a)		240,000		248,454
				4,061,282
Technology - 3.0%
Cloud Software Group, Inc., 6.50%, 03/31/2029 (a)		533,000		524,059
McAfee Corp., 7.38%, 02/15/2030 (a)		265,000		257,905
Unisys Corp., 6.88%, 11/01/2027 (a)		280,000		275,699
				1,057,663
Utilities - 4.2%
AmeriGas Partners LP / AmeriGas Finance Corp., 5.88%, 08/20/2026		590,000		580,383
Elwood Energy LLC, 8.16%, 07/05/2026		656,574		623,746
Ferrellgas LP / Ferrellgas Finance Corp., 5.88%, 04/01/2029 (a)		250,000		235,007
Midland Cogeneration Venture LP, 6.00%, 03/15/2025 (a)		29,064		29,055
				1,468,191
TOTAL CORPORATE BONDS (Cost $33,637,649)				33,923,040
CONVERTIBLE BONDS - 0.7%	Par		Value
Financials - 0.7%
PennyMac Corp., 8.50%, 06/01/2029 (a)		250,000		250,375
TOTAL CONVERTIBLE BONDS (Cost $249,375)				250,375
SHORT-TERM INVESTMENTS - 9.0%			Value
Investments Purchased with Proceeds from Securities Lending - 7.3%	Units
Mount Vernon Liquid Assets Portfolio, LLC, 5.50% (d)		2,582,654		2,582,654
Money Market Funds - 1.7%	Shares
Invesco Treasury Portfolio - Class Institutional, 4.55% (d)		593,189		593,189
TOTAL SHORT-TERM INVESTMENTS (Cost $3,175,843)				3,175,843
TOTAL INVESTMENTS - 105.6% (Cost $37,062,867)				37,349,258
Liabilities in Excess of Other Assets - (5.6)%				(1,976,505	)
TOTAL NET ASSETS - 100.0%			$	35,372,753
two				–	%
Percentages are stated as a percent of net assets.				–	%

AG - Aktiengesellschaft

LIBOR - London Interbank Offered Rate

PLC - Public Limited Company

SOFR - Secured Overnight Financing Rate

(a)	Security is exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may only be resold in transactions exempt from registration to qualified institutional investors. As of November 30, 2024, the value of these securities total $25,600,114 or 72.4% of the Fund’s net assets.
(b)	All or a portion of this security is on loan as of November 30, 2024. The total market value of these securities was $2,327,658 which represented 6.6% of net assets.
(c)	Securities referencing LIBOR are expected to transition to an alternative reference rate by the security’s next scheduled coupon reset date.
(d)	The rate shown represents the 7-day annualized effective yield as of November 30, 2024.

Summary of Fair Value Disclosure as of November 30, 2024 (Unaudited)

Oakhurst Short Duration High Yield Credit Fund has adopted authoritative fair value accounting standards which establish an authoritative definition of fair value and set out a hierarchy for measuring fair value. These standards require additional disclosures about the various inputs and valuation techniques used to develop the measurements of fair value, a discussion of changes in valuation techniques and related inputs during the period, and expanded disclosure of valuation levels for major security types. These inputs are summarized in the three broad levels listed below. The inputs or methodology used for valuing securities are not an indication of the risk associated with investing in those securities.

Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access.

Level 2 - Observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates and similar data.

Level 3 - Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available, representing the Fund’s own assumptions about the assumptions a market participant would use in valuing the asset or liability, and would be based on the best information available.

The following is a summary of the fair valuation hierarchy of the Fund’s securities as of November 30, 2024:

	Level 1		Level 2		Level 3		Total
Investments:
Corporate Bonds	$	–	$	33,923,040	$	–	$	33,923,040
Convertible Bonds		–		250,375		–		250,375
Investments Purchased with Proceeds from Securities Lending(a)		–		–		–		2,582,654
Money Market Funds		593,189		–		–		593,189
Total Investments	$	593,189	$	34,173,415	$	–	$	37,349,258
Refer to the Schedule of Investments for further disaggregation of investment categories.

(a) Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amount of $2,582,654 presented in the table are intended to permit reconciliation of the fair value hierarchy to the amounts listed in the Schedule of Investments.