Prospector Opportunity Fund (POPFX) NPORT-P Prospector Opportunity Fund (Mar 2022 report)

Schedule of Investments March 31, 2022 (unaudited)

Prospector Opportunity Fund

Description	Shares		Value
COMMON STOCKS - 93.4%
Banks - 16.3%
Allegiance Bancshares		3,600	$	160,848
Bank of N.T. Butterfield & Son		136,050		4,881,474
CBTX		79,353		2,459,943
Central Valley Community Bancorp		58,300		1,361,305
Citigroup		38,270		2,043,618
Comerica		31,050		2,807,851
First Bancorp		311,500		4,086,880
HarborOne Bancorp		160,044		2,243,817
HomeTrust Bancshares		39,300		1,160,529
KeyCorp		247,800		5,545,764
Origin Bancorp		79,000		3,340,910
PCSB Financial		112,215		2,144,429
QCR Holdings		70,900		4,012,231
SouthState		28,500		2,325,315
				38,574,914
Consumer Discretionary - 6.0%
Darden Restaurants		38,800		5,158,460
Dave & Buster's Entertainment *		18,250		896,075
eBay		56,100		3,212,286
Home Depot		6,050		1,810,947
Noodles & Company *		527,562		3,149,545
				14,227,313
Consumer Staples - 5.3%
Carlsberg A/S, Class B		16,750		2,067,563
Church & Dwight		30,850		3,065,873
Hostess Brands *		172,550		3,785,747
Mondelez International, Class A		57,600		3,616,128
				12,535,311
Diversified Financial Services - 5.9%
CBOE Global Markets		21,800		2,494,356
Diamond Hill Investment Group		8,500		1,592,050
Federated Hermes, Class B		175,950		5,992,857
Invesco		60,100		1,385,906
State Street		28,380		2,472,466
				13,937,635
Energy - 6.3%
Devon Energy		45,050		2,663,807
Hess		22,350		2,392,344
Pioneer Natural Resources		24,137		6,034,974
Schlumberger		34,300		1,416,933
Suncor Energy		73,100		2,382,329
				14,890,387
Healthcare - 9.6%
Cigna		5,950		1,425,679
DENTSPLY SIRONA		42,600		2,096,772
Henry Schein *		30,450		2,654,936
Johnson & Johnson		10,750		1,905,222
Medtronic		43,350		4,809,683

Merck & Co.	46,498		3,815,161
NuVasive *	55,200		3,129,840
ZimVie *	129,300		2,953,212
			22,790,505
Industrials - 10.9%
Curtiss-Wright	49,500		7,432,920
ManpowerGroup	27,000		2,535,840
Moog	35,100		3,081,780
Otis Worldwide	30,600		2,354,670
Pentair	39,100		2,119,611
Sensata Technologies Holding *	102,250		5,199,412
Vectrus *	84,600		3,033,756
			25,757,989
Information Technology - 6.0%
FARO Technologies *	53,400		2,772,528
Leidos Holdings	29,200		3,154,184
Littelfuse	29,080		7,252,843
PayPal Holdings *	9,300		1,075,545
			14,255,100
Insurance Brokers - 4.7%
Arthur J. Gallagher & Co.	27,200		4,749,120
Brown & Brown	87,850		6,348,919
			11,098,039
Life & Health Insurance - 5.7%
Globe Life	61,650		6,201,990
Primerica	20,100		2,750,082
Voya Financial	70,950		4,707,532
			13,659,604
Materials - 4.3%
Agnico Eagle Mines	43,800		2,682,312
Axalta Coating Systems *	186,000		4,571,880
Newmont Goldcorp	30,550		2,427,197
Victoria Gold *	45,186		575,218
			10,256,607
Property & Casualty Insurance - 3.9%
Fairfax Financial Holdings	4,510		2,456,732
Kemper	33,900		1,916,706
W.R. Berkley	43,725		2,911,648
White Mountains Insurance Group	1,740		1,977,058
			9,262,144
Real Estate - 2.3%
Howard Hughes *	52,750		5,465,428
Reinsurance - 6.2%
Alleghany *	7,807		6,612,529
Everest Re Group	12,550		3,782,319
RenaissanceRe Holdings	26,850		4,255,993
			14,650,841
Total Common Stocks
(Cost $165,333,206)		$	221,361,817
EXCHANGE TRADED FUND - 1.7%
Aberdeen Standard Physical Platinum Shares Fund *
(Cost $3,754,611)	42,150	$	3,867,684
SHORT-TERM INVESTMENT - 5.3%

First American Treasury Obligations Fund, Class X, 0.235%^
(Cost $12,628,604)	12,628,604	$	12,628,604
Total Investments - 100.4%
(Cost $181,716,421)		$	237,858,105
Other Assets and Liabilities, Net - (0.4)%		$	(933,180	)
Total Net Assets - 100.0%		$	236,924,925

* Non-income producing security

^ The rate shown is the seven-day yield effective March 31, 2022.

The industry classifications included in the Schedule of Investments are in accordance with the Global Industry Classification Standard (GICS ®) and were developed by and/or are the exclusive property of MSCI, Inc. (MSCI) and Standard & Poor Financial Services LLC (S&P).  GICS is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services.

Summary of Fair Value Exposure

The Fund has adopted 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 in 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:

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 inputs or methodology used for valuing securities are not an indication of the risk associated with investing in those securities.

As of March 31, 2022, the Fund's investments in securities were classified as follows:

	Level 1		Level 2		Level 3		Total
Common Stocks	$	221,361,817	$	-	$	-	$221,361,817
Exchange Traded Fund		3,867,684		-		-	3,867,684
Short-Term Investment		12,628,604		-		-	12,628,604
Total Investments	$	237,858,105	$	-	$	-	$237,858,105

Refer to each Fund's Schedule of Investments for further sector breakout.