Centre Funds NPORT-P Centre Global Infrastructure Fund (Jun 2022 report)

CENTRE AMERICAN SELECT EQUITY FUND
SCHEDULE OF INVESTMENTS
June 30, 2022 (Unaudited)
	Shares		Value
COMMON STOCKS (98.39%)
Communication Services (4.46%)
Interactive Media & Services (4.46%)
Alphabet, Inc., Class A(a)		3,323	$	7,241,681
Alphabet, Inc., Class C(a)		3,077		6,730,784
Meta Platforms, Inc., Class A(a)		9,792		1,578,960
				15,551,425
Total Communication Services				15,551,425
Consumer Discretionary (7.71%)
Automobiles (1.11%)
Tesla, Inc.(a)		5,738		3,864,084
Internet & Direct Marketing Retail (5.79%)
Alibaba Group Holding, Ltd.(a)		107,150		12,180,812
Amazon.com, Inc.(a)		75,169		7,983,700
				20,164,512
Specialty Retail (0.81%)
The Home Depot, Inc.		10,268		2,816,204
Total Consumer Discretionary				26,844,800
Consumer Staples (12.42%)
Beverages (1.51%)
Coca-Cola Co.		43,505		2,736,900
PepsiCo, Inc.		15,187		2,531,065
				5,267,965
Food Products (8.06%)
Archer-Daniels-Midland Co.		79,958		6,204,741
Bunge, Ltd.		77,346		7,014,509
Kraft Heinz Co.		151,740		5,787,363
Pilgrim's Pride Corp.(a)		289,870		9,052,640
				28,059,253
Household Products (1.06%)
Procter & Gamble Co.		25,685		3,693,246
Tobacco (1.79%)
Altria Group, Inc.		149,183		6,231,374
Total Consumer Staples				43,251,838
Energy (23.50%)
Oil, Gas & Consumable Fuels (23.50%)
APA Corp.		368,389		12,856,776
Chevron Corp.		104,301		15,100,698
EQT Corp.		390,837		13,444,793
Exxon Mobil Corp.		206,203		17,659,225
Peabody Energy Corp.(a)		270,424		5,768,144
Range Resources Corp.(a)		376,371		9,315,182
The Williams Cos., Inc.		246,761		7,701,411
				81,846,229
Total Energy				81,846,229
Financials (3.19%)
Banks (1.67%)
Bank of America Corp.		76,129		2,369,896

	Shares		Value
Financials (continued)
JPMorgan Chase & Co.		30,727	$	3,460,167
				5,830,063
Diversified Financial Services (1.52%)
Berkshire Hathaway, Inc., Class B(a)		19,344		5,281,299
Total Financials				11,111,362
Health Care (8.52%)
Biotechnology (3.22%)
AbbVie, Inc.		19,008		2,911,265
Gilead Sciences, Inc.		134,284		8,300,094
				11,211,359
Health Care Providers & Services (1.45%)
UnitedHealth Group, Inc.		9,806		5,036,656
Pharmaceuticals (3.85%)
Eli Lilly & Co.		8,783		2,847,712
Johnson & Johnson		27,404		4,864,484
Merck & Co., Inc.		28,182		2,569,353
Pfizer, Inc.		59,977		3,144,594
				13,426,143
Total Health Care				29,674,158
Information Technology (13.44%)
IT Services (1.71%)
Mastercard, Inc., Class A		8,504		2,682,842
Visa, Inc., Class A		16,656		3,279,400
				5,962,242
Semiconductors & Semiconductor Equipment (0.53%)
NVIDIA Corp.		12,082		1,831,511
Software (5.29%)
Microsoft Corp.		71,816		18,444,503
Technology Hardware, Storage & Peripherals (5.91%)
Apple, Inc.		150,603		20,590,442
Total Information Technology				46,828,698
Materials (25.15%)
Chemicals (14.11%)
CF Industries Holdings, Inc.		127,105		10,896,712
Corteva, Inc.		224,958		12,179,226
FMC Corp.		74,655		7,988,831
International Flavors & Fragrances, Inc.		64,289		7,658,106
Mosaic Co.		221,213		10,447,890
				49,170,765
Metals & Mining (11.04%)
Agnico Eagle Mines, Ltd.		217,660		9,960,122
Allegheny Technologies, Inc.(a)		317,789		7,216,988
BHP Group, Ltd.		130,722		7,343,962
Sibanye Stillwater, Ltd.		553,824		5,521,625

	Shares		Value
Materials (continued)
Teck Resources, Ltd., Class B		275,217	$	8,413,384
				38,456,081
Total Materials				87,626,846
TOTAL COMMON STOCKS
(Cost $320,313,966)				342,735,356

Expiration Date	Exercise Price		Contracts		Notional Value		Value
PURCHASED OPTIONS (1.32%)
Puts
S&P 500® Index:
9/16/2022	$	3,400.00		460	$	174,127,480		2,999,200
Total Puts								2,999,200
Call
SPDR® Gold Shares:
12/16/2022		177.00		2,860	$	48,179,560		1,623,050
Total Call								1,623,050
TOTAL PURCHASED OPTIONS
(Cost $6,749,420)								4,622,250
TOTAL INVESTMENTS (99.71%)
(Cost $327,063,386)							$	347,357,606
Other Assets In Excess Of Liabilities (0.29%)								995,492
NET ASSETS (100.00%)							$	348,353,098

^(a) Non-income producing security.

See Notes to Quarterly Schedule of Investments.

CENTRE GLOBAL INFRASTRUCTURE FUND
SCHEDULE OF INVESTMENTS
June 30, 2022 (Unaudited)
	Shares		Value
COMMON STOCKS (99.75%)
ASIA (16.26%)
Australia (2.48%)
Transportation Infrastructure (2.48%)
Transurban Group		90,362	$	896,915
Total Australia				896,915
China (1.90%)
Internet & Direct Marketing Retail (1.90%)
Alibaba Group Holding, Ltd.(a)		48,100		685,935
Total China				685,935
Hong Kong (1.21%)
Gas Utilities (1.21%)
Kunlun Energy Co., Ltd.		534,000		437,582
Total Hong Kong				437,582
Japan (10.14%)
Diversified Telecommunication Services (1.08%)
Nippon Telegraph & Telephone Corp.		13,600		390,519
Gas Utilities (3.34%)
Osaka Gas Co., Ltd.		33,200		635,224
Tokyo Gas Co., Ltd.		27,600		570,999
				1,206,223
Wireless Telecommunication Services (5.72%)
KDDI Corp.		34,300		1,084,262
SoftBank Corp.		34,600		384,176
SoftBank Group Corp.		15,500		598,043
				2,066,481
Total Japan				3,663,223
Singapore (0.53%)
Diversified Telecommunications (0.53%)
Singapore Telecommunications L(a)		105,800		192,668
Total Singapore				192,668
TOTAL ASIA
(Cost $5,757,481)				5,876,323
EUROPE (15.46%)
France (3.27%)
Diversified Telecommunication Services (0.80%)
Orange SA		24,449		287,473
Electric Utilities (1.42%)
Electricite de France SA		62,687		512,800
Multi-Utilities (0.47%)
Engie SA		14,749		169,494

	Shares		Value
Transportation Infrastructure (0.58%)
Getlink SE		11,961	$	210,957
Total France				1,180,724
Germany (2.20%)
Diversified Telecommunication Services (2.20%)
Deutsche Telekom AG		40,119		796,544
Total Germany				796,544
Great Britain (3.06%)
Diversified Telecommunication Services (0.65%)
BT Group PLC		103,353		234,387
Multi-Utilities (0.98%)
National Grid PLC		27,628		353,804
Wireless Telecommunication Services (1.43%)
Vodafone Group PLC		334,607		515,908
Total Great Britain				1,104,099
Ireland (1.24%)
Construction Materials (1.24%)
CRH PLC		13,073		449,405
Total Ireland				449,405
Italy (1.97%)
Electric Utilities (0.99%)
Enel SpA		65,225		356,802
Transportation Infrastructure (0.98%)
Atlantia SpA		15,117		354,542
Total Italy				711,344
Spain (3.72%)
Diversified Telecommunication Services (1.59%)
Cellnex Telecom SA(b)(c)		6,259		242,885
Telefonica SA		65,035		331,364
				574,249
Electric Utilities (1.43%)
Iberdrola SA		49,776		516,205
Transportation Infrastructure (0.70%)
Aena SME SA(a)(b)(c)		1,987		252,477
Total Spain				1,342,931
TOTAL EUROPE
(Cost $5,768,114)				5,585,047
NORTH AMERICA (68.03%)
Canada (13.60%)
Oil, Gas & Consumable Fuels (13.05%)
Enbridge, Inc.		59,434		2,509,969
Pembina Pipeline Corp.		18,204		643,476

	Shares		Value
TC Energy Corp.		30,138	$	1,561,219
				4,714,664
Wireless Telecommunication Services (0.55%)
Rogers Communications, Inc., Class B		4,187		200,633
Total Canada				4,915,297
United States (54.43%)
Diversified Telecommunication Services (13.20%)
AT&T, Inc.		93,987		1,969,968
Verizon Communications, Inc.		55,156		2,799,167
				4,769,135
Electric Utilities (11.38%)
American Electric Power Co., Inc.		4,149		398,055
Duke Energy Corp.		6,431		689,467
Edison International		3,108		196,550
Eversource Energy		2,807		237,107
Exelon Corp.		7,983		361,790
NextEra Energy, Inc.		16,695		1,293,195
The Southern Co.		8,706		620,825
Xcel Energy, Inc.		4,465		315,943
				4,112,932
Health Care Providers & Services (3.61%)
HCA Healthcare, Inc.		6,657		1,118,775
Universal Health Services, Inc., Class B		1,862		187,522
				1,306,297
Multi-Utilities (5.37%)
Consolidated Edison, Inc.		2,815		267,707
Dominion Energy, Inc.		6,790		541,910
DTE Energy Co.		1,603		203,180
Public Service Enterprise Group, Inc.		4,173		264,068
Sempra Energy		2,709		407,081
WEC Energy Group, Inc.		2,535		255,122
				1,939,068
Oil, Gas & Consumable Fuels (17.41%)
Cheniere Energy, Inc.		7,574		1,007,569
Kinder Morgan, Inc.		84,134		1,410,086
ONEOK, Inc.		14,339		795,815
Peabody Energy Corp.(a)		24,706		526,979
Range Resources Corp.(a)		22,596		559,251
Targa Resources Corp.		5,971		356,290
The Williams Cos., Inc.		52,378		1,634,717
				6,290,707
Water Utilities (0.56%)
American Water Works Co., Inc.		1,351		200,988
Wireless Telecommunication Services (2.90%)
T-Mobile US, Inc.(a)		7,786		1,047,528
Total United States				19,666,655
TOTAL NORTH AMERICA
(Cost $20,335,385)				24,581,952
TOTAL COMMON STOCKS
(Cost $31,860,980)				36,043,322

	7-Day Yield			Shares		Value
SHORT TERM INVESTMENTS (0.41%)
Money Market Fund (0.41%)
Dreyfus Treasury Prime Cash Management, Institutional Class		0.55.4	%		149,287	$	149,287
TOTAL SHORT TERM INVESTMENTS
(Cost $149,287)							149,287
							Value
TOTAL INVESTMENTS (100.16%)
(Cost $32,010,267)						$	36,192,609
Liabilities in Excess of Other Assets (-0.16%)							(59,214	)
NET ASSETS (100.00%)						$	36,133,395

(a)	Non-income producing security.
(b)	Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be resold in transactions exempt from registration only to qualified institutional buyers. As of June 30, 2022, these securities had a total aggregate market value of $495,362, representing 1.37% of net assets.
(c)	Securities were purchased pursuant to Regulation S under the Securities Act of 1933, which exempts securities offered and sold outside the United States from registration. Such securities cannot be sold in the United States without either an effective registration statement filed pursuant to Securities Act of 1933, or pursuant to an exemption from registration. These securities have been deemed liquid under guidelines approved by the Fund's Board of Trustees. At period end, the aggregate market value of those securities was $495,362, representing 1.37% of net assets.

See Notes to Quarterly Schedule of Investments.

Centre American Select Equity Fund

Investments in Securities at Value(a)	Level 1 - Quoted Prices		Level 2 - Other Significant Observable Inputs		Level 3 -   Significant Unobservable Inputs		Total
Common Stocks	$	342,735,356	$	–	$	–	$	342,735,356
Purchased Options		4,622,250		–		–		4,622,250
Total	$	347,357,606	$	–	$	–	$	347,357,606

Centre Global Infrastructure Fund

Investments in Securities at Value(a)	Level 1 -  Quoted Prices		Level 2 -   Other Significant Observable Inputs		Level 3 -   Significant Unobservable Inputs		Total
Common Stocks	$	36,043,322	$	–	$	–	$	36,043,322
Short Term Investments		149,287		–		–		149,287
Total	$	36,192,609	$	–	$	–	$	36,192,609

^(a) For detailed descriptions of sectors, industries and countries, see the accompanying Schedule of Investments.