1
Bright
Rock
Mid
Cap
Growth
Fund
Schedule
of
Investments
November
30,
2023
(Unaudited)
Shares
Value
COMMON
STOCKS
—
99.91%
Automobile
Components
—
2.27%
Gentex
Corp.
60,000
$
1,824,600
Beverages
—
5.78%
Brown-Forman
Corp.
-
Class
B
29,500
1,732,830
Monster
Beverage
Corp. (a)
53,000
2,922,950
4,655,780
Capital
Markets
—
8.91%
FactSet
Research
Systems,
Inc.
6,000
2,720,760
Morningstar,
Inc.
10,000
2,833,600
SEI
Investments
Co.
27,600
1,619,292
7,173,652
Chemicals
—
4.85%
Eastman
Chemical
Co.
20,000
1,676,600
Scotts
Miracle-Gro
Co.
40,000
2,226,400
3,903,000
Commercial
Services
&
Supplies
—
11.27%
Copart,
Inc. (a)
140,000
7,030,800
Rollins,
Inc.
50,250
2,047,185
9,077,985
Communications
Equipment
—
4.09%
Arista
Networks,
Inc. (a)
15,000
3,295,650
Consumer
Staples
Distribution
&
Retail
—
0.81%
Dollar
General
Corp.
5,000
655,600
Containers
&
Packaging
—
3.55%
AptarGroup,
Inc.
22,500
2,855,025
Electrical
Equipment
—
3
.85%
AMETEK,
Inc.
20,000
3,104,600
Electronic
Equipment,
Instruments
&
Components
—
3.84%
Amphenol
Corp.
-
Class
A
34,000
3,093,660
Financial
Services
—
3.86%
Jack
Henry
&
Associates,
Inc.
19,600
3,110,324
Food
Products
—
4.67%
Hershey
Co.
20,000
3,758,400
Ground
Transportation
—
2.42%
JB
Hunt
Transport
Services,
Inc.
10,500
1,945,335
2
Bright
Rock
Mid
Cap
Growth
Fund
Schedule
of
Investments
(Continued)
November
30,
2023
(Unaudited)
Shares
Value
COMMON
STOCKS
—
99.91%
(Continued)
Health
Care
Equipment
&
Supplies
—
9.19%
Edwards
Lifesciences
Corp. (a)
25,000
$
1,692,750
IDEXX
Laboratories,
Inc. (a)
7,000
3,260,740
ResMed,
Inc.
15,500
2,444,815
7,398,305
Hotels,
Restaurants
&
Leisure
—
1.64%
Chipotle
Mexican
Grill,
Inc. (a)
600
1,321,350
Insurance
—
2.32%
Arthur
J
Gallagher
&
Co.
7,500
1,867,500
Life
Sciences
Tools
&
Services
—
2.18%
West
Pharmaceutical
Services,
Inc.
5,000
1,753,800
Oil,
Gas
&
Consumable
Fuels
—
6.75%
Coterra
Energy,
Inc.
50,000
1,312,500
ONEOK,
Inc.
59,850
4,120,673
5,433,173
Semiconductors
&
Semiconductor
Equipment
—
4.54%
Analog
Devices,
Inc.
15,800
2,897,404
Enphase
Energy,
Inc. (a)
7,500
757,650
3,655,054
Software
—
3.17%
Tyler
Technologies,
Inc. (a)
6,250
2,555,250
Specialty
Retail
—
6.17%
Floor
&
Decor
Holdings,
Inc.
-
Class
A (a)
11,000
1,008,810
Tractor
Supply
Co.
19,500
3,958,695
4,967,505
Trading
Companies
&
Distributors
—
3.78%
Fastenal
Co.
50,800
3,046,476
TOTAL
COMMON
STOCKS
(Cost
$36,566,412)
80,452,024
MONEY
MARKET
FUNDS
—
0.01%
Morgan
Stanley
Institutional
Liquidity
Funds
-
Government
Portfolio,
Institutional
Class,
5.260% (b)
7,468
7,468
TOTAL
MONEY
MARKET
FUNDS
(Cost
$7,468)
7,468
Total
Investments
(Cost
$36,573,880)
—
99.92%
$80,459,492
Other
Assets
in
Excess
of
Liabilities
—
0.08%
64,678
TOTAL
NET
ASSETS
—
100.00%
$
80,524,170
Percentages
are
stated
as
a
percent
of
net
assets.
3
Bright
Rock
Mid
Cap
Growth
Fund
Schedule
of
Investments
(Continued)
November
30,
2023
(Unaudited)
The
Industry
Classification
Standard
(GICS
®
)
was
developed
by
and/or
is
the
exclusive
property
of
MSCI,
Inc.
(“MSCI”)
and
Standard
&
Poor’s
Financial
Services
LLC
(“S&P”).
GICS
is
a
service
mark
of
MSCI
and
S&P
and
has
been
licensed
for
use
by
U.S.
Bancorp
Fund
Services,
LLC.
(a)
Non-income
producing
security.
(b)
The
rate
shown
represents
the
seven-day
yield
as
of
November
30,
2023.
4
Bright
Rock
Mid
Cap
Growth
Fund
Notes
to
Schedule
of
Investments
November
30,
2023
(Unaudited)
Investment
Valuation
Each
equity
security
owned
by
the
Fund
that
is
listed
on
a
securities
exchange,
except
for
securities
listed
on
the
NASDAQ
Stock
Market
LLC
(“NASDAQ”),
is
valued
at
its
last
sale
price
at
the
close
of
that
exchange
on
the
date
as
of
which
assets
are
valued.
If
a
security
is
listed
on
more
than
one
exchange,
the
Fund
will
use
the
price
on
the
exchange
that
the
Fund
generally
considers
to
be
the
principal
exchange
on
which
the
security
is
traded.
Fund
securities,
including
common
stocks,
preferred
stocks
and
exchange
traded
funds,
listed
on
NASDAQ
will
be
valued
at
the
NASDAQ
Official
Closing
Price,
which
may
not
necessarily
represent
the
last
sale
price.
If,
on
a
particular
day,
an
exchange-listed
or
NASDAQ
security
does
not
trade,
then:
(i)
the
security
is
valued
at
the
mean
between
the
most
recent
quoted
bid
and
asked
prices
at
the
close
of
the
exchange
on
such
day;
or
(ii)
the
security
is
valued
at
the
latest
sales
price
on
the
Composite
Market
for
the
day
such
security
is
being
valued.
“Composite
Market”
means
a
consolidation
of
the
trade
information
provided
by
national
securities
and
foreign
exchanges
and
the
over-the-counter
markets
as
published
by
an
approved
independent
pricing
service
(“Pricing
Service”).
Money
market
funds,
demand
notes
and
repurchase
agreements
are
valued
at
cost.
If
cost
does
not
represent
current
market
value
the
securities
will
be
priced
at
fair
value.
Redeemable
securities
issued
by
open-end,
registered
investment
companies,
including
money
market
mutual
funds,
are
valued
at
the
NAVs
of
such
companies
for
purchase
and/
or
redemption
orders
placed
on
that
day.
If,
on
a
particular
day,
a
share
of
an
investment
company
is
not
listed
on
NASDAQ,
such
security’s
fair
value
will
be
determined.
When
market
quotations
are
not
readily
available,
any
security
or
other
financial
instrument
is
valued
at
its
fair
value
in
accordance
with
Rule
2a-5
of
the
1940
Act
as
determined
under
procedures,
subject
to
oversight
by
the
Trust’s
Board
of
Trustees.
These
fair
value
procedures
will
also
be
used
to
price
a
security
when
corporate
events,
events
in
the
securities
market
and/or
world
events
cause
the
Adviser
to
believe
that
a
security’s
last
sale
price
may
not
reflect
its
actual
fair
market
value.
The
intended
effect
of
using
fair
value
pricing
procedures
is
to
ensure
that
the
Fund
is
accurately
priced.
The
Adviser
will
regularly
evaluate
whether
the
Fund's
fair
value
pricing
procedures
continue
to
be
appropriate
in
light
of
the
specific
circumstances
of
the
Fund
and
the
quality
of
prices
obtained
through
the
application
of
such
procedures.
The
Trust has
adopted
Statement
of
Financial
Accounting
Standards,
“Fair
Value
Measurements
and
Disclosures,”
which
requires the
Fund
to
classify
its
securities
based
on
a
valuation
method.
These
inputs
are
summarized
in
the
three
broad
levels
listed
below:
Level
1—Quoted
prices
in
active
markets
for
identical
securities.
Level
2—Other
significant
observable
inputs
(including
quoted
prices
for
similar
securities,
interest
rates,
prepayment
speeds,
credit
risk,
etc.).
Level
3—Significant
unobservable
inputs
(including
a
Fund's
own
assumptions
in
determining
the
fair
value
of
investments).
The
inputs
or
methodology
used
for
valuing
securities
are
not
necessarily
an
indication
of
the
risk
associated
with
investing
in
those
securities.
The
following
is
a
summary
of
the
inputs
used
to
value
the
Fund's
investments
carried
at
fair
value
as
of
November
30,
2023:
5
Bright
Rock
Mid
Cap
Growth
Fund
Notes
to
Schedule
of
Investments
(Continued)
November
30,
2023
(Unaudited)
Bright
Rock
Mid
Cap
Growth
Fund
Level
1
Level
2
Level
3
Total
Assets
(1)
:
Equities:
Common
Stocks
$
80,452,024
$
–
$
–
$
80,452,024
Total
Equity
Securities
80,452,024
–
–
80,452,024
Money
Market
Funds
7,468
–
–
7,468
Total
Investments
in
Securities
$
80,459,492
$
–
$
–
$
80,459,492
(1)
See
the
Schedule
of
Investments
for
industry
classifications.