Oakhurst Short Duration Bond Fund
Schedule of Investments
May 31, 2025 (Unaudited)
U.S. TREASURY SECURITIES - 21.4%	Par		Value
United States Treasury Note/Bond
4.63%, 06/30/2026 (a)		272,000	$	273,360
4.50%, 07/15/2026 (a)		475,000		476,985
3.75%, 08/31/2026 (a)		330,000		328,646
4.13%, 10/31/2026 (a)		150,000		150,167
4.25%, 11/30/2026 (a)		395,000		396,312
3.75%, 08/15/2027 (a)		614,000		611,925
3.38%, 09/15/2027 (a)		465,000		459,760
3.75%, 05/15/2028 (a)		175,000		174,378
TOTAL U.S. TREASURY SECURITIES (Cost $2,874,034)				2,871,533
EXCHANGE TRADED FUNDS - 20.3%	Shares		Value
F/m 2-Year Investment Grade Corporate Bond ETF		24,500		1,241,293
F/m 3-Year Investment Grade Corporate Bond ETF		24,423		1,241,914
F/m Ultrashort Treasury Inflation-Protected Security TIPS ETF		4,800		240,624
TOTAL EXCHANGE TRADED FUNDS (Cost $2,716,841)				2,723,831
CORPORATE BONDS - 20.3%	Par		Value
Communications - 1.2%
AT&T, Inc., 6.55%, 01/15/2028 (a)		150,000		157,395
Consumer Discretionary - 1.1%
AutoNation, Inc., 3.80%, 11/15/2027 (a)		151,000		147,398
Financials - 10.6%
Air Lease Corp., 3.63%, 12/01/2027 (a)		150,000		147,073
Ally Financial, Inc., 2.20%, 11/02/2028 (a)		215,000		196,198
American Tower Corp., 5.50%, 03/15/2028 (a)		146,000		149,246
Athene Holding Ltd., 4.13%, 01/12/2028 (a)		150,000		147,434
Aviation Capital Group LLC, 6.25%, 04/15/2028 (a)(b)		185,000		191,305
Bank of America Corp., 6.20% to 11/10/2027 then SOFR + 1.99%, 11/10/2028 (a)		138,000		142,865
Citigroup, Inc., 4.13%, 07/25/2028 (a)		149,000		146,762
Goldman Sachs Group, Inc., 3.85%, 01/26/2027 (a)		151,000		149,687
JPMorgan Chase & Co., 4.51% to 10/22/2027 then SOFR + 0.86%, 10/22/2028 (a)		149,000		148,680
				1,419,250
Health Care - 3.1%
Amgen, Inc., 5.15%, 03/02/2028 (a)		144,000		146,625
CVS Pass-Through Trust, 6.04%, 12/10/2028 (a)		127,539		128,949
Elevance Health, Inc., 4.10%, 03/01/2028 (a)		140,000		138,756
				414,330
Industrials - 1.4%
Ryder System, Inc., 6.30%, 12/01/2028 (a)		185,000		194,071
Technology - 2.2%
Broadcom, Inc., 4.80%, 04/15/2028 (a)		140,000		141,562
Hewlett Packard Enterprise Co., 4.40%, 09/25/2027 (a)		148,000		147,787
				289,349
Utilities - 0.7%
Dominion Energy, Inc., 4.60%, 05/15/2028 (a)		100,000		100,222
TOTAL CORPORATE BONDS (Cost $2,705,868)				2,722,015
COLLATERALIZED MORTGAGE OBLIGATIONS - 17.7%	Par		Value
Federal Home Loan Mortgage Corp.
Series 3664, Class DA, 4.00%, 11/15/2037 (a)		185,069		183,561
Series 4312, Class GA, 2.50%, 12/15/2041 (a)		28,283		27,622
Series 4768, Class E, 3.50%, 09/15/2042 (a)		18,663		18,624
Series 4938, Class BL, 2.25%, 07/25/2049 (a)		364,277		316,287
Series 4960, Class PD, 2.00%, 10/25/2049 (a)		201,831		167,789
Federal National Mortgage Association
Series 2005-80, Class BA, 5.00%, 04/25/2029 (a)		64,791		65,970
Series 2012-41, Class BA, 2.50%, 04/25/2027 (a)		87,110		85,529
Series 2013-82, Class BP, 2.75%, 12/25/2042 (a)		256,241		242,338
Series 2014-21, Class MA, 2.00%, 09/25/2041 (a)		144,124		138,564
Series 2016-72, Class AP, 3.00%, 07/25/2044 (a)		63,158		61,334
Government National Mortgage Association
Series 2018-131, Class PG, 3.00%, 09/20/2048 (a)		79,222		71,748
Series 2019-24, Class PE, 3.25%, 02/20/2049 (a)		170,453		158,054
Series 2019-65, Class EB, 3.00%, 05/20/2049 (a)		134,885		117,959
GSR Mortgage Loan Trust, Series 2003-13, Class 1A1, 6.31%, 10/25/2033 (a)(c)		67,236		67,327
Impac CMB Trust, Series 2005-4, Class 2A1, 5.04% (1 mo. Term SOFR + 0.41%), 05/25/2035 (a)		102,499		98,028
Mastr Adjustable Rate Mortgages Trust, Series 2004-13, Class 2A1, 6.83%, 04/21/2034 (a)(c)		68,490		67,479
Mastr Seasoned Securities Trust, Series 2005-1, Class 1A1, 5.89%, 09/25/2032 (a)(c)		270,582		274,098
Structured Adjustable Rate Mortgage Loan Trust, Series 2004-12, Class 3A3, 5.33%, 09/25/2034 (a)(c)		11,110		10,869
WaMu Mortgage Pass Through Certificates, Series 2002-AR2, Class A, 4.18% (Ent 11th COFI Repl + 1.25%), 02/27/2034 (a)		10,833		10,429
Wells Fargo Mortgage Backed Securities Trust, Series 2004-K, Class 2A6, 7.30%, 07/25/2034 (a)(c)		181,935		185,967
TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $2,547,686)				2,369,576
MORTGAGE-BACKED SECURITIES - 11.4%	Par		Value
Federal Home Loan Mortgage Corp.
Pool J12630, 4.00%, 07/01/2025 (a)		1,029		1,027
Pool SB1117, 6.00%, 04/01/2039 (a)		224,260		230,475
Pool SB1215, 6.00%, 07/01/2039 (a)		785,955		805,000
Federal National Mortgage Association
Pool AL0300, 4.50%, 06/01/2026 (a)		13,556		13,543
Pool AL4309, 4.00%, 10/01/2028 (a)		54,874		54,514
Pool FS8581, 6.00%, 07/01/2039 (a)		209,327		214,349
Pool MA5202, 6.00%, 11/01/2038 (a)		212,071		217,348
TOTAL MORTGAGE-BACKED SECURITIES (Cost $1,530,865)				1,536,256
ASSET-BACKED SECURITIES - 8.8%	Par		Value
Accredited Mortgage Loan Trust, Series 2004-3, Class 2A2, 5.64% (1 mo. Term SOFR + 1.31%), 10/25/2034 (a)		39,065		38,671
ACE Securities Corp., Series 2003-NC1, Class A2A, 5.28% (1 mo. Term SOFR + 0.95%), 07/25/2033 (a)		234,621		219,036
Argent Securities, Inc. Asset-Backed Pass-Through Certificates, Series 2004-W10, Class A2, 3.49% (1 mo. Term SOFR + 0.89%), 10/25/2034 (a)		209,847		200,796
Carvana Auto Receivables Trust
Series 2021-N1, Class B, 1.09%, 01/10/2028 (a)		114,430		111,518
Series 2021-P2, Class A4, 0.80%, 01/10/2027 (a)		102,684		101,727
Countrywide Asset-Backed Certificates, Series 2004-6, Class 2A3, 5.64% (1 mo. Term SOFR + 1.31%), 11/25/2034 (a)		152,019		150,584
OneMain Holdings, Inc., Series 2006-1, Class A5, 5.75%, 12/25/2035 (a)(b)(c)		891		976
Soundview Home Equity Loan Trust, Series 2003-2, Class A2, 5.74% (1 mo. Term SOFR + 1.41%), 11/25/2033 (a)		56,533		61,104
Verizon Master Trust, Series 2024-6, Class A1A, 4.17%, 08/20/2030 (a)		150,000		149,223
World Omni Select Auto Trust, Series 2021-A, Class C, 1.09%, 11/15/2027 (a)		151,460		149,973
TOTAL ASSET-BACKED SECURITIES (Cost $1,196,708)				1,183,608
SHORT-TERM INVESTMENTS - 0.1%			Value
Money Market Funds - 0.1%	Shares
Invesco Treasury Portfolio - Class Institutional, 4.23% (d)		10,136		10,136
TOTAL SHORT-TERM INVESTMENTS (Cost $10,136)				10,136
TOTAL INVESTMENTS - 100.0% (Cost $13,582,138)				13,416,955
Other Assets in Excess of Liabilities - 0.0% (e)				5,295
TOTAL NET ASSETS - 100.0%			$	13,422,250
two				–	%
Percentages are stated as a percent of net assets.				–	%

Ent 11th COFI Repl - Enterprise 11th District COFI Replacement Index

LLC - Limited Liability Company

SOFR - Secured Overnight Financing Rate

(a)	Non-income producing security.
(b)	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 May 31, 2025, the value of these securities total $192,281 or 1.4% of the Fund’s net assets.
(c)	Coupon rate is variable based on the weighted average coupon of the underlying collateral. To the extent the weighted average coupon of the underlying assets which comprise the collateral increases or decreases, the coupon rate of this security will increase or decrease correspondingly. The rate disclosed is as of May 31, 2025.
(d)	The rate shown represents the 7-day annualized effective yield as of May 31, 2025.
(e)	Represents less than 0.05% of net assets.

Summary of Fair Value Disclosure as of May 31, 2025 (Unaudited)

Oakhurst Short Duration Bond Fund (the "Fund") has adopted fair value accounting standards which establish a 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 valuation 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 based on the best information available.

The following is a summary of the fair valuation hierarchy of the Fund’s securities as of May 31, 2025:

	Level 1		Level 2		Level 3		Total
Investments:
U.S. Treasury Securities	$	–	$	2,871,533	$	–	$	2,871,533
Exchange Traded Funds		2,723,831		–		–		2,723,831
Corporate Bonds		–		2,722,015		–		2,722,015
Collateralized Mortgage Obligations		–		2,369,576		–		2,369,576
Mortgage-Backed Securities		–		1,536,256		–		1,536,256
Asset-Backed Securities		–		1,183,608		–		1,183,608
Money Market Funds		10,136		–		–		10,136
Total Investments	$	2,733,967	$	10,682,988	$	–	$	13,416,955
Refer to the Schedule of Investments for further disaggregation of investment categories.