| Otter Creek Focus Strategy ETF | |
| Schedule of Investments | |
| July 31, 2024 (Unaudited) | |
| | |
| COMMON STOCKS - 99.0% | | Shares | | | Value | |
| Aerospace & Defense - 9.2% | | | | | | |
L3Harris Technologies, Inc. | | | 821 | | | $ | 186,277 | |
Parsons Corp. (a) | | | 3,423 | | | | 312,759 | |
| | | | | | | | 499,036 | |
| Application Software - 10.2% | | | | | | | | |
Aspen Technology, Inc. (a) | | | 1,055 | | | | 198,287 | |
Dynatrace, Inc. (a) | | | 3,937 | | | | 172,913 | |
PTC, Inc. (a) | | | 998 | | | | 177,495 | |
| | | | | | | | 548,695 | |
| Construction & Engineering - 4.8% | | | | | | | | |
Quanta Services, Inc. | | | 970 | | | | 257,419 | |
Electrical Components & Equipment - 13.2% | | | | | | | | |
Hubbell, Inc. | | | 542 | | | | 214,442 | |
NEXTracker, Inc. - Class A (a) | | | 4,131 | | | | 202,997 | |
Vertiv Holdings Co. - Class A | | | 3,727 | | | | 293,315 | |
| | | | | | | | 710,754 | |
| Electronic Components - 7.9% | | | | | | | | |
Coherent Corp. (a) | | | 2,970 | | | | 206,950 | |
Corning, Inc. | | | 5,532 | | | | 221,335 | |
| | | | | | | | 428,285 | |
| Electronic Equipment & Instruments - 1.9% | | | | | | | | |
Keysight Technologies, Inc. (a) | | | 731 | | | | 102,026 | |
Electronic Manufacturing Services - 3.4% | | | | | | | | |
Flex Ltd. (a) | | | 5,658 | | | | 181,905 | |
Environmental & Facilities Services - 11.2% | | | | | | | | |
Clean Harbors, Inc. (a) | | | 842 | | | | 201,010 | |
Tetra Tech, Inc. | | | 992 | | | | 211,534 | |
Veralto Corp. | | | 1,828 | | | | 194,792 | |
| | | | | | | | 607,336 | |
| Industrial Conglomerates - 5.8% | | | | | | | | |
3M Co. | | | 969 | | | | 123,596 | |
GE HealthCare Technologies, Inc. | | | 2,242 | | | | 189,740 | |
| | | | | | | | 313,336 | |
| Insurance Brokers - 10.7% | | | | | | | | |
Baldwin Insurance Group, Inc. - Class A (a) | | | 8,643 | | | | 378,045 | |
Brown & Brown, Inc. | | | 2,021 | | | | 200,948 | |
| | | | | | | | 578,993 | |
| Life Sciences Tools & Services - 7.7% | | | | | | | | |
Avantor, Inc. (a) | | | 8,344 | | | | 223,202 | |
IQVIA Holdings, Inc. (a) | | | 780 | | | | 192,059 | |
| | | | | | | | 415,261 | |
| Property & Casualty Insurance - 3.5% | | | | | | | | |
W R Berkley Corp. | | | 3,399 | | | | 187,387 | |
| Real Estate Operating Companies - 4.1% | |
DigitalBridge Group, Inc. | | | 15,512 | | | | 219,184 | |
Renewable Electricity - 2.6% | |
NextEra Energy Partners LP | | | 5,594 | | | | 142,927 | |
Technology Hardware, Storage & Peripherals - 2.8% | |
Super Micro Computer, Inc. (a) | | | 216 | | | | 151,556 | |
TOTAL COMMON STOCKS (Cost $5,093,486) | | | | | | | 5,344,100 | |
| | | | | | | | | |
| SHORT-TERM INVESTMENTS - 1.0% | |
| Money Market Funds - 1.0% | | Shares | | | | | |
MSILF Treasury Portfolio - Class Institutional, 5.12% (b) | | | 52,274 | | | | 52,274 | |
TOTAL SHORT-TERM INVESTMENTS (Cost $52,274) | | | | | | | 52,274 | |
TOTAL INVESTMENTS - 100.0% (Cost $5,145,760) | | | | | | | 5,396,374 | |
Liabilities in Excess of Other Assets - (0.0)% (c) | | | | | | | (2,205 | ) |
| TOTAL NET ASSETS - 100.0% | | $ | 5,394,169 | |
| | | | | | | | | |
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. ("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. Bank Global Fund Services. | |
(a) | Non-income producing security. | | | | | | | | |
(b) | The rate shown represents the 7-day annualized effective yield as of July 31, 2024. | | | | | | | | |
(c) | Represents less than 0.05% of net assets. | | | | | | | | |
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Summary of Fair Value Disclosure as of July 31, 2024 (Unaudited)
Otter Creek Focus Strategy ETF has adopted authoritative 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 of 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. The inputs or methodology used for valuing securities are not an indication of the risk associated with investing in those securities.
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 following is a summary of the fair valuation hierarchy of the Fund’s securities as of July 31, 2024:
| | | Level 1 | | | Level 2 | | | Level 3 | | | Total | |
Investments: | | | | | | | | | | | | |
| Common Stocks | | $ | 5,344,100 | | | $ | – | | | $ | – | | | $ | 5,344,100 | |
| Money Market Funds | | | 52,274 | | | | – | | | | – | | | | 52,274 | |
| Total Investments | | $ | 5,396,374 | | | $ | – | | | $ | – | | | $ | 5,396,374 | |
| | | | | | | | | | |
Refer to the Schedule of Investments for further disaggregation of investment categories. | | | | | | | | | |
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