| Zell Capital | |||||||
| Schedule of Investments | |||||||
| December 31, 2021 (Unaudited) | |||||||
| Security Description | Quantity | Fair Value | |||||
| SAFE Notes - 44.3% | |||||||
DOLR SAFE Note(1)(2) | $ | 70,000 | |||||
Studium SAFE Note(2) | 85,000 | ||||||
GRID SAFE Note(2) | 10,000 | ||||||
| Total SAFE Notes (Cost $165,000) | 165,000 | ||||||
| Private Equity - 7.0% | |||||||
Terra Kaffe(2) | 26,120 | ||||||
| Total Private Equity (Cost $26,120) | 26,120 | ||||||
| Money Market Funds - 10.4% | |||||||
First American Government Obligations Fund, Class X - 0.03%(3) | 38,800 | 38,800 | |||||
| Total Money Market Funds (Cost $38,800) | 38,800 | ||||||
| Total Investments (Cost $229,920) - 61.7% | $ | 229,920 | |||||
| Liabilities in Excess of Other Assets - 38.3% | (205,084) | ||||||
| Net Assets - 100.0% | $ | 24,836 | |||||
| SAFE - Simple Agreement for Future Equity | |||||||
(1) There is a potential conflict of interest between DOLR and Zell Capital. DOLR is a client of mpMurcia, LLC, dba Book+Street. An officer of the Fund is the majority shareholder of Book + Street. | |||||||
(2) Non-income producing. | |||||||
(3) Presented rate represents the Money Market Fund’s average 7-day % yield as of December 31, 2021. | |||||||
| Percentages are stated as a percent of net assets. | |||||||
| The following table presents information about the Fund’s assets measured on a recurring basis as of December 31, 2021 and indicates the fair value hierarchy of the inputs utilized by the Fund to determine such fair value: | |||||||
| Level 1 | Level 2 | Level 3 | Total | ||||||||||||
| SAFE Notes | $ | - | $ | - | $ | 165,000 | $ | 165,000 | |||||||
| Private Equity | - | - | 26,120 | 26,120 | |||||||||||
| Money Market Funds | 38,800 | - | - | 38,800 | |||||||||||
| Total Investments in securities and cash equivalents | $ | 38,800 | $ | - | $ | 191,120 | $ | 229,920 | |||||||
