Wisconsin Capital Funds NPORT-P Plumb Balanced Fund (Dec 2023 report)

Plumb Balanced Fund
Schedule of Investments
as of December 31, 2023 (Unaudited)
COMMON STOCKS - 68.1%	Shares		Value
Automobile Components - 1.2%
Mobileye Global, Inc. - Class A(a)		18,000	$	779,760
Beverages - 1.6%
Constellation Brands, Inc. - Class A - Class A		4,500		1,087,875
Broadline Retail - 5.2%
Amazon.com, Inc.(a)		10,000		1,519,400
MercadoLibre, Inc.(a)		1,250		1,964,425
				3,483,825
Commercial Services & Supplies - 5.4%
Copart, Inc.(a)		38,000		1,862,000
VSE Corp.		27,500		1,776,775
				3,638,775
Consumer Finance - 4.7%
American Express Co.		8,000		1,498,720
Discover Financial Services		15,000		1,686,000
				3,184,720
Energy Equipment & Services - 2.4%
Schlumberger NV		30,500		1,587,220
Financial Services - 12.3%
FleetCor Technologies, Inc.(a)		3,200		904,352
Mastercard, Inc. - Class A		5,000		2,132,550
Toast, Inc. - Class A(a)		54,432		993,928
Visa, Inc. - Class A		8,650		2,252,028
WEX, Inc.(a)		10,000		1,945,500
				8,228,358
Health Care Equipment & Supplies - 1.8%
Intuitive Surgical, Inc.(a)		3,500		1,180,760
Interactive Media & Services - 3.3%
Alphabet, Inc. - Class A(a)		16,000		2,235,040
Oil, Gas & Consumable Fuels - 4.0%
Exxon Mobil Corp.		13,000		1,299,740
Phillips 66		10,500		1,397,970
				2,697,710
Personal Care Products - 1.1%
elf Beauty, Inc.(a)		5,000		721,700
Pharmaceuticals - 5.1%
Eli Lilly & Co.		2,300		1,340,716
Novo Nordisk AS - ADR		20,000		2,069,000
				3,409,716
Semiconductors & Semiconductor Equipment - 7.9%
Advanced Micro Devices, Inc.(a)		10,000		1,474,100
Microchip Technology, Inc.		14,500		1,307,610
NVIDIA Corp.		5,100		2,525,622
				5,307,332
Software - 9.8%
Adobe, Inc.(a)		3,300		1,968,780
Autodesk, Inc.(a)		4,500		1,095,660
Microsoft Corp.		6,000		2,256,240
Mitek Systems, Inc.(a)		94,000		1,225,760
				6,546,440
Technology Hardware, Storage & Peripherals - 2.3%
Apple, Inc.		8,000		1,540,240
TOTAL COMMON STOCKS (Cost $24,792,037)				45,629,471
CORPORATE BONDS - 29.2%	Par		Value
Aerospace & Defense - 1.4%
Boeing Co., 2.95%, 02/01/2030		1,000,000		902,921
Banks - 16.3%
Amalgamated Financial Corp., 3.25% to 11/15/2026 then 3 mo. Term SOFR + 2.30%, 11/15/2031		1,000,000		835,250
Banc of California, Inc., 4.38% to 10/30/2025 then 3 mo. Term SOFR + 4.20%, 10/30/2030		1,700,000		1,542,919
Bank of America NA, 6.12% (SOFR + 0.78%), 08/18/2025  (b)		700,000		701,857
Citigroup, Inc.
6.00% (3 mo. Term SOFR + 1.61%), 04/25/2024  (b)		250,000		249,335
4.70% to 01/30/2025 then SOFR + 3.23%, Perpetual		1,000,000		932,463
Flagstar Bancorp, Inc., 4.13% to 11/01/2025 then 3 mo. Term SOFR + 3.91%, 11/01/2030		500,000		454,122
JPMorgan Chase & Co., 6.75% (3 mo. Term SOFR + 4.04%), Perpetual  (b)		2,325,000		2,321,826
Pinnacle Financial Partners, Inc., 4.13% to 09/15/2024 then 3 mo. LIBOR US + 2.78%, 09/15/2029		1,575,000		1,510,436
TriState Capital Holdings, Inc., 5.75% to 05/15/2025 then 3 mo. LIBOR US + 5.36%, 05/15/2030		500,000		475,462
Wells Fargo & Co., 4.05%, 08/15/2026  (c)		500,000		492,802
Western Alliance Bank, 5.25% to 06/01/2025 then 3 mo. Term SOFR + 5.12%, 06/01/2030		1,500,000		1,428,750
				10,945,222
Building Products - 0.7%
Carlisle Cos., Inc., 3.50%, 12/01/2024		500,000		490,697
Capital Markets - 3.7%
Charles Schwab Corp., 5.38% to 06/01/2025 then 5 yr. CMT Rate + 4.97%, Perpetual		1,500,000		1,483,587
Goldman Sachs Group, Inc., 7.38% (3 mo. Term SOFR + 1.96%), 04/05/2026  (b)		1,000,000		1,007,938
				2,491,525
Chemicals - 1.1%
Sherwin-Williams Co., 3.13%, 06/01/2024		720,000		712,522
Health Care Equipment & Services - 0.9%
CVS Pass-Through Trust, 6.94%, 01/10/2030		144,932		148,183
HCA, Inc., 3.50%, 09/01/2030		500,000		453,805
				601,988
Hotels, Restaurants & Leisure - 1.9%
Expedia Group, Inc., 5.00%, 02/15/2026		1,300,000		1,299,700
Insurance - 0.7%
Old Republic International Corp., 4.88%, 10/01/2024		500,000		496,312
IT Services - 0.5%
VeriSign, Inc., 4.75%, 07/15/2027		350,000		347,529
Oil & Gas - 0.4%
Murphy Oil USA, Inc., 5.63%, 05/01/2027		250,000		248,224
Oil, Gas & Consumable Fuels - 1.6%
El Paso Natural Gas Co. LLC, 7.50%, 11/15/2026		1,000,000		1,069,263
TOTAL CORPORATE BONDS (Cost $20,651,310)				19,605,903
U.S. GOVERNMENT AGENCY ISSUE - 1.1%	Par		Value
United States of America, 2.44%, 04/18/2024		750,000		743,808
TOTAL U.S. GOVERNMENT AGENCY ISSUE (Cost $744,558)				743,808
U.S. TREASURY OBLIGATION - 0.7%	Par		Value
United States Treasury Note/Bond, 0.38%, 04/15/2024		500,000		493,132
TOTAL U.S. TREASURY OBLIGATION (Cost $493,108)				493,132
SHORT-TERM INVESTMENT - 0.7%
Money Market Fund - 0.7%	Shares
First American Government Obligations Fund - Class X, 5.25%(d)		443,650		443,650
TOTAL SHORT-TERM INVESTMENT (Cost $443,650)				443,650
TOTAL INVESTMENTS - 99.8% (Cost $47,124,664)			$	66,915,964
Other Assets in Excess of Liabilities - 0.2%				162,077
TOTAL NET ASSETS - 100.0%			$	67,078,041
Percentages are stated as a percent of net assets.

The Global Industry Classification Standard (GICS^®) was developed by and/or is the exclusive property of MSCI, Inc. and Standard & Poor’s Financial Services LLC (“S&P”). GICS is a service mark of MSCI, Inc. and S&P and has been licensed for use by U.S. Bank Global Fund Services.

ADR - American Depositary Receipt

LIBOR - London Interbank Offered Rate

SOFR - Secured Overnight Financing Rate

(a)	Non-income producing security.
(b)	Coupon rate is variable or floats based on components including but not limited to reference rate and spread. These securities may not indicate a reference rate and/or spread in their description. The rate disclosed is as of December 31, 2023.
(c)	Step coupon bond. The rate disclosed is as of December 31, 2023.
(d)	The rate shown represents the 7-day effective yield as of December 31, 2023.

Notes to the Schedule of Investments (Unaudited)
Security Valuation
The Funds have adopted authoritative fair valuation 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 and a discussion in changes in valuation techniques and related inputs during the year. 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 the Funds' own assumptions in determining fair value of investments)
Equity securities, including common stocks, are valued at the last sale price reported by the exchange on which the securities are primarily traded on the day of valuation. Nasdaq-listed securities are valued at their Nasdaq Office Closing Price. Equity securities not traded on a listed exchange or not traded using Nasdaq are valued as of the last sale price at the close of the U.S. market. If there are no sales on a given day for securities traded on an exchange, the latest bid quotation will be used. These securities will generally be classified as Level 1 securities.
Investments in mutual funds, including money market funds, are generally priced at the ending net asset value (NAV) provided by the service agent of the funds and will be classified as Level 1 securities.
Debt securities, such as corporate bonds and preferred securities, are valued using a market approach based on information supplied by independent pricing services. The market inputs used by the independent pricing service include: benchmark yields, reported trades, broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers, and reference data including market research publications. Debt securities with remaining maturities of 60 days or less may be valued on an amortized cost basis, which involves valuing an instrument at its cost and thereafter assuming a constant amortization to maturity of any discount or premium, regardless of the impact of fluctuating rates on the fair value of the instrument. To the extent the inputs are observable and timely, these debt securities and preferred securities will generally be classified as Level 2 securities.
Any securities or other assets for which market quotations are not readily available are valued at fair value as determined in good faith by the Advisor pursuant to procedures established under the general supervision and responsibility of the Funds’ Board of Directors and will be classified as Level 3 securities.
The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the level in the fair value hierarchy within which the fair value measurement falls in its entirety is determined based on the lowest level input that is significant to the fair value measurement in its entirety.
The following is a summary of the inputs used in valuing the Funds' assets carried at fair value as of December 31, 2023.

Plumb Balanced Fund
	Level 1		Level 2		Level 3		Total
Investments:
Common Stocks	$	45,629,471	$	–	$	–	$	45,629,471
Corporate Bonds		–		19,605,903		–		19,605,903
U.S. Government Agency Issues		–		743,808		–		743,808
U.S. Treasury Obligations		–		493,132		–		493,132
Money Market Funds		443,650		–		–		443,650
Total Investments	$	46,073,121	$	20,842,843	$	–	$	66,915,964
Refer to the Schedule of Investments for industry classifications.