Reynolds Funds NPORT-P Reynolds Blue Chip Growth Fund (Dec 2020 report)

Reynolds Blue Chip Growth Fund
SCHEDULE OF INVESTMENTS
December 31, 2020 (Unaudited)
	Shares		Value
COMMON STOCKS - 97.9%
Air Freight & Logistics - 0.1%
Expeditors International of Washington, Inc.		500	$	47,555
XPO Logistics, Inc. (n)		300		35,760
				83,315
Airlines - 0.2%
Delta Air Lines, Inc.		900		36,189
Southwest Airlines Company		900		41,949
United Airlines Holdings, Inc. (n)		1,000		43,250
				121,388
Auto Components - 0.1%
Luminar Technologies, Inc. (n)		900		30,600
Visteon Corp. (n)		600		75,312
				105,912
Automobiles - 11.0%
Tesla, Inc. (n)		11,600		8,185,772
Banks - 0.2%
JPMorgan Chase & Company		900		114,363
Beverages - 0.1%
Constellation Brands, Inc., Class A		200		43,810
Monster Beverage Corp. (n)		400		36,992
				80,802
Biotechnology - 2.1%
AbbVie, Inc.		1,000		107,150
Amgen, Inc.		300		68,976
Amicus Therapeutics, Inc. (n)		1,400		32,326
Biogen, Inc. (n)		300		73,458
CRISPR Therapeutics AG (n)		1,600		244,976
Inovio Pharmaceuticals, Inc. (n)		2,000		17,700
Ligand Pharmaceuticals, Inc. (n)		300		29,835
Moderna, Inc. (n)		900		94,023
Regeneron Pharmaceuticals, Inc. (n)		500		241,555
Sarepta Therapeutics, Inc. (n)		1,400		238,686
Seagen, Inc. (n)		400		70,056
Sorrento Therapeutics, Inc. (n)		3,900		26,617
TG Therapeutics, Inc. (n)		1,800		93,636
United Therapeutics Corp. (n)		300		45,537
Vertex Pharmaceuticals, Inc. (n)		500		118,170
Vir Biotechnology, Inc. (n)		1,600		42,848
				1,545,549
Capital Markets - 0.8%
Ameriprise Financial, Inc.		200		38,866
The Blackstone Group, Inc., Class A		600		38,886
The Charles Schwab Corp.		2,000		106,080
CME Group, Inc.		300		54,615
The Goldman Sachs Group, Inc.		400		105,484
Interactive Brokers Group, Inc., Class A		600		36,552
Morgan Stanley		1,100		75,383
Morningstar, Inc.		300		69,471
T. Rowe Price Group, Inc.		300		45,417
				570,754
Chemicals - 0.2%
Air Products and Chemicals, Inc.		200		54,644
Corteva, Inc.		800		30,976
The Scotts Miracle-Gro Company		200		39,828
				125,448
Commercial Services & Supplies - 0.5%
Copart, Inc. (n)		1,700		216,325
Waste Connections, Inc.		1,100		112,827
Waste Management, Inc.		400		47,172
				376,324
Communications Equipment - 2.2%
Arista Networks, Inc. (n)		300		87,171
F5 Networks, Inc. (n)		2,000		351,880
Infinera Corp. (n)		6,200		64,976
Lumentum Holdings, Inc. (n)		400		37,920
Motorola Solutions, Inc.		300		51,018
Ubiquiti, Inc.		3,800		1,058,338
				1,651,303
Construction & Engineering - 0.1%
Jacobs Engineering Group, Inc.		400		43,584
Construction Materials - 0.0%
Cemex SAB de CV - ADR (n)		2,000		10,340
Diversified Financial Services - 0.1%
Berkshire Hathaway, Inc., Class B (n)		300		69,561
Electrical Equipment - 0.9%
Acuity Brands, Inc.		600		72,654
AMETEK, Inc.		400		48,376
FuelCell Energy, Inc. (n)		13,100		146,327
Plug Power, Inc. (n)		5,300		179,723
Sunrun, Inc. (n)		2,800		194,264
				641,344
Electronic Equipment, Instruments & Components - 1.1%
Amphenol Corp., Class A		400		52,308
Cognex Corp.		2,500		200,712
FLIR Systems, Inc.		1,000		43,830
IPG Photonics Corp. (n)		600		134,274
Keysight Technologies, Inc. (n)		1,200		158,508
Littelfuse, Inc.		200		50,932
TE Connectivity Ltd.		300		36,321
Zebra Technologies Corp., Class A (n)		450		172,949
				849,834
Energy Equipment & Services - 0.0%
Schlumberger N.V.		1,600		34,928
Entertainment - 4.1%
Activision Blizzard, Inc.		1,900		176,415
Bilibili, Inc. - ADR (n)		4,200		360,024
Electronic Arts, Inc.		1,450		208,220
NetEase, Inc. - ADR		400		38,308
Netflix, Inc. (n)		2,900		1,568,117
Roku, Inc. (n)		800		265,616
Spotify Technology SA (n)		200		62,932
Take-Two Interactive Software, Inc. (n)		400		83,116
The Walt Disney Company (n)		1,400		253,652
Zynga, Inc., Class A (n)		7,000		69,090
				3,085,490
Equity Real Estate Investment Trusts - 0.0%
Crown Castle International Corp.		200		31,838
Food & Staples Retailing - 3.7%
Costco Wholesale Corp.		5,550		2,091,129
Walmart, Inc.		4,400		634,260
				2,725,389
Food Products - 0.1%
Bunge Ltd.		600		39,348
Mondelez International, Inc., Class A		800		46,776
				86,124
Health Care Equipment & Supplies - 1.4%
Becton, Dickinson and Company		200		50,044
Edwards Lifesciences Corp. (n)		1,200		109,476
Intuitive Surgical, Inc. (n)		600		490,860
Masimo Corp. (n)		200		53,676
Novocure Ltd. (n)		900		155,736
Stryker Corp.		400		98,016
Tandem Diabetes Care, Inc. (n)		200		19,136
West Pharmaceutical Services, Inc.		100		28,331
Zimmer Biomet Holdings, Inc.		400		61,636
				1,066,911
Health Care Providers & Services - 0.5%
DaVita, Inc. (n)		800		93,920
Guardant Health, Inc. (n)		300		38,664
HCA Healthcare, Inc.		700		115,122
Molina Healthcare, Inc. (n)		200		42,536
UnitedHealth Group, Inc.		150		52,602
				342,844
Health Care Technology - 0.3%
Cerner Corp.		1,100		86,328
Teladoc Health, Inc. (n)		636		127,175
				213,503
Hotels, Restaurants & Leisure - 2.2%
Chipotle Mexican Grill, Inc. (n)		500		693,355
Hilton Worldwide Holdings, Inc.		400		44,504
Las Vegas Sands Corp.		700		41,720
Marriott International, Inc., Class A		300		39,576
MGM Resorts International		1,200		37,812
Penn National Gaming, Inc. (n)		700		60,459
Restaurant Brands International, Inc.		600		36,666
Starbucks Corp.		5,900		631,182
Yum! Brands, Inc.		800		86,848
				1,672,122
Household Durables - 0.3%
Lennar Corp., Class A		500		38,115
Sony Corp. - ADR		2,100		212,310
				250,425
Insurance - 0.1%
Lemonade, Inc. (n)		200		24,500
Lincoln National Corp.		600		30,186
				54,686
Interactive Media & Services - 8.5%
Alphabet, Inc., Class A (n)		1,500		2,628,960
Alphabet, Inc., Class C (n)		500		875,940
Baidu, Inc. - ADR (n)		2,900		627,096
Facebook, Inc., Class A (n)		3,000		819,480
IAC/InterActiveCorp (n)		1,100		208,285
Match Group, Inc. (n)		1,140		172,357
Pinterest, Inc., Class A (n)		1,200		79,080
Snap, Inc., Class A (n)		2,000		100,140
TripAdvisor, Inc. (n)		1,400		40,292
Twitter, Inc. (n)		4,600		249,090
Zillow Group, Inc., Class C (n)		4,300		558,140
				6,358,860
Internet & Direct Marketing Retail - 11.7%
Alibaba Group Holding Ltd. - ADR (n)		6,550		1,524,381
Amazon.com, Inc. (n)		1,700		5,536,781
Booking Holdings, Inc. (n)		250		556,818
Etsy, Inc. (n)		900		160,119
Expedia Group, Inc.		2,300		304,520
JD.com, Inc. - ADR (n)		800		70,320
Jumia Technologies AG - ADR (n)		5,100		205,785
MercadoLibre, Inc. (n)		100		167,522
Pinduoduo, Inc. - ADR (n)		400		71,068
Wayfair, Inc., Class A (n)		700		158,067
				8,755,381
IT Services - 6.1%
Akamai Technologies, Inc. (n)		2,300		241,477
Cognizant Technology Solutions Corp., Class A		3,700		303,215
DXC Technology Company		900		23,175
Euronet Worldwide, Inc. (n)		300		43,476
Fidelity National Information Services, Inc.		500		70,730
Fiserv, Inc. (n)		2,000		227,720
FleetCor Technologies, Inc. (n)		350		95,490
Gartner, Inc. (n)		300		48,057
Global Payments, Inc.		1,104		237,824
Jack Henry & Associates, Inc.		300		48,597
Mastercard, Inc., Class A		800		285,552
Paychex, Inc.		2,700		251,586
PayPal Holdings, Inc. (n)		3,500		819,700
Sabre Corp.		3,000		36,060
Shopify, Inc., Class A (n)		250		282,988
Snowflake, Inc., Class A (n)		450		126,630
Square, Inc., Class A (n)		3,450		750,858
Twilio, Inc., Class A (n)		600		203,100
VeriSign, Inc. (n)		200		43,280
Visa, Inc., Class A		1,400		306,222
Wix.com Ltd. (n)		350		87,486
				4,533,223
Leisure Products - 0.0%
Peloton Interactive, Inc., Class A (n)		200		30,344
Life Sciences Tools & Services - 0.7%
Bio-Rad Laboratories, Inc., Class A (n)		100		58,294
Illumina, Inc. (n)		200		74,000
IQVIA Holdings, Inc. (n)		200		35,834
PRA Health Sciences, Inc. (n)		600		75,264
Repligen Corp. (n)		600		114,978
Thermo Fisher Scientific, Inc.		200		93,156
Waters Corp. (n)		400		98,968
				550,494
Machinery - 0.2%
Deere & Company		300		80,715
Lincoln Electric Holdings, Inc.		400		46,500
				127,215
Media - 0.1%
Comcast Corp., Class A		800		41,920
Metals & Mining - 0.1%
Freeport-McMoRan, Inc.		3,800		98,876
Multiline Retail - 0.3%
Dollar General Corp.		200		42,060
Dollar Tree, Inc. (n)		400		43,216
Macy's, Inc.		2,900		32,625
Ollie's Bargain Outlet Holdings, Inc. (n)		400		32,708
Target Corp.		300		52,959
				203,568
Oil, Gas & Consumable Fuels - 0.0%
Marathon Oil Corp.		2,600		17,342
Pharmaceuticals - 0.9%
Eli Lilly & Company		250		42,210
Jazz Pharmaceuticals PLC (n)		400		66,020
Johnson & Johnson		1,400		220,332
Merck & Company, Inc.		2,100		171,780
Pfizer, Inc.		2,400		88,344
Sanofi - ADR		800		38,872
Viatris, Inc. (n)		645		12,087
				639,645
Professional Services - 1.2%
Upwork, Inc. (n)		2,700		93,204
Verisk Analytics, Inc.		3,800		788,842
				882,046
Real Estate Management & Development - 0.4%
Redfin Corp. (n)		4,200		288,246
Road & Rail - 0.3%
Lyft, Inc., Class A (n)		2,000		98,260
Uber Technologies, Inc. (n)		3,100		158,100
				256,360
Semiconductors & Semiconductor Equipment - 8.4%
Advanced Micro Devices, Inc. (n)		400		36,684
Analog Devices, Inc.		800		118,184
Applied Materials, Inc.		400		34,520
ASML Holding N.V.		200		97,544
Broadcom, Inc.		100		43,785
Canadian Solar, Inc. (n)		1,300		66,612
Cree, Inc. (n)		500		52,950
Entegris, Inc.		3,100		297,910
Lattice Semiconductor Corp. (n)		3,200		146,624
Marvell Technology Group Ltd.		4,000		190,160
Microchip Technology, Inc.		1,500		207,165
Micron Technology, Inc. (n)		2,300		172,914
Monolithic Power Systems, Inc.		150		54,934
NVIDIA Corp.		5,200		2,715,440
NXP Semiconductors N.V.		1,200		190,812
Qorvo, Inc. (n)		800		133,016
QUALCOMM, Inc.		4,600		700,764
Skyworks Solutions, Inc.		2,300		351,624
SolarEdge Technologies, Inc. (n)		500		159,560
SunPower Corp. (n)		4,800		123,072
Teradyne, Inc.		1,500		179,835
Texas Instruments, Inc.		700		114,891
Universal Display Corp.		200		45,960
				6,234,960
Software - 16.6%
8x8, Inc. (n)		4,200		144,774
Adobe, Inc. (n)		450		225,054
Altair Engineering, Inc., Class A (n)		1,700		98,906
ANSYS, Inc. (n)		250		90,950
Atlassian Corp. PLC, Class A (n)		350		81,855
Autodesk, Inc. (n)		2,050		625,947
Cadence Design Systems, Inc. (n)		1,800		245,574
Check Point Software Technologies Ltd. (n)		1,300		172,783
Cloudera, Inc. (n)		2,400		33,384
Cloudflare, Inc., Class A (n)		3,300		250,767
CommVault Systems, Inc. (n)		1,600		88,592
Coupa Software, Inc. (n)		500		169,455
Crowdstrike Holdings, Inc., Class A (n)		1,900		402,458
CyberArk Software Ltd. (n)		200		32,318
DocuSign, Inc. (n)		1,100		244,530
Dropbox, Inc., Class A (n)		3,100		68,789
Everbridge, Inc. (n)		300		44,721
Fair Isaac Corp. (n)		100		51,104
FireEye, Inc. (n)		2,100		48,426
Five9, Inc. (n)		500		87,200
Fortinet, Inc. (n)		2,200		326,766
Guidewire Software, Inc. (n)		600		77,238
Intuit, Inc.		350		132,947
Microsoft Corp.		5,600		1,245,552
MicroStrategy, Inc., Class A (n)		450		174,847
Nice Ltd. - ADR (n)		400		113,416
Nutanix, Inc., Class A (n)		2,400		76,488
Oracle Corp.		2,500		161,725
Palo Alto Networks, Inc. (n)		1,300		462,007
Paycom Software, Inc. (n)		150		67,837
Paylocity Holding Corp. (n)		600		123,546
Proofpoint, Inc. (n)		1,050		143,231
PTC, Inc. (n)		4,100		490,401
Qualys, Inc. (n)		300		36,561
Salesforce.com, Inc. (n)		10,500		2,336,565
ServiceNow, Inc. (n)		200		110,086
Slack Technologies, Inc., Class A (n)		2,000		84,480
Splunk, Inc. (n)		1,000		169,890
SS&C Technologies Holdings, Inc.		1,000		72,750
Synopsys, Inc. (n)		600		155,544
The Trade Desk, Inc., Class A (n)		250		200,250
Unity Software, Inc. (n)		1,100		168,817
Varonis Systems, Inc. (n)		500		81,805
VMware, Inc., Class A (n)		4,800		673,248
Workday, Inc., Class A (n)		1,400		335,454
Zendesk, Inc. (n)		2,250		322,020
Zoom Video Communications, Inc., Class A (n)		2,100		708,372
Zscaler, Inc. (n)		600		119,826
				12,379,256
Specialty Retail - 5.5%
AutoNation, Inc. (n)		500		34,895
AutoZone, Inc. (n)		200		237,088
Best Buy Company, Inc.		6,800		678,572
Dick's Sporting Goods, Inc.		1,100		61,831
Five Below, Inc. (n)		200		34,996
The Home Depot, Inc.		3,900		1,035,918
Lowe's Companies, Inc.		6,600		1,059,366
Rent-A-Center, Inc.		600		22,974
RH (n)		1,300		581,776
Ross Stores, Inc.		400		49,124
The TJX Companies, Inc.		2,000		136,580
Ulta Beauty, Inc. (n)		600		172,296
				4,105,416
Technology Hardware, Storage & Peripherals - 3.4%
Apple, Inc.		16,400		2,176,116
Dell Technologies, Inc., Class C (n)		600		43,974
HP, Inc.		4,800		118,032
NetApp, Inc.		600		39,744
Seagate Technology PLC		1,200		74,592
Western Digital Corp.		800		44,312
				2,496,770
Textiles, Apparel & Luxury Goods - 0.9%
Levi Strauss & Company, Class A		1,800		36,144
Lululemon Athletica, Inc. (n)		1,250		435,038
NIKE, Inc., Class B		1,100		155,617
Ralph Lauren Corp.		700		72,618
				699,417
Trading Companies & Distributors - 0.2%
Fastenal Company		900		43,947
United Rentals, Inc. (n)		300		69,573
				113,520
TOTAL COMMON STOCKS
(cost $43,289,610)				72,952,712
RIGHTS - 0.0%
Biotechnology - 0.0%
Achillion Pharmaceuticals, Inc. (f) (n)		3,000		0
Pharmaceuticals - 0.0%
Bristol-Myers Squibb Company (n)		1,600		1,104
TOTAL RIGHTS
(cost $3,408)				1,104
MONEY MARKET FUND - 0.7%
First American Government Obligations Fund, Class X, 0.04% (y)		572,271		572,271
TOTAL MONEY MARKET FUND
(cost $572,271)				572,271
TOTAL INVESTMENTS - 98.6%
(cost $43,865,289)				73,526,087
Other assets and liabilities, net - 1.4%				1,006,889
TOTAL NET ASSETS - 100.0%			$	74,532,976
Percentages for the various classifications are based on net assets.
(f) - Security valued at fair value as determined by the investment adviser under the supervision of the Board of Directors. Value determined using significant unobservable inputs.
(n) - Non-income producing security.
(y) - Rate shown in the 7-day effective yield as of December 31, 2020.
ADR - American Depositary Receipt
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 and S&P and has been licensed for use by U.S. Bancorp Fund Services, LLC.

The following is a summary of the Fund’s pricing procedures. It is intended to be a general discussion and may not necessarily reflect all pricing procedures followed by the Fund.

Each security, excluding short-term investments and money market funds, is valued at the last sale price reported by the principal security exchange on which the issue is traded (other than The Nasdaq OMX Group, Inc., referred to as “Nasdaq”), or if no sale is reported, the latest bid price.  Securities which are traded on Nasdaq (including closed-end funds) under one of its three listing tiers, Nasdaq Global Market, Nasdaq Global Select Market and Nasdaq Capital Market, are valued at the Nasdaq Official Closing Price, or if no sale is reported, the latest bid price.  Short-term investments with maturities of 60 days or less may be valued on an amortized cost basis to the extent it is equivalent to fair value, 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. Amortized cost will not be used if its use would be inappropriate due to credit or other impairments of the issuer. Money market funds are valued at their net asset value per share. Securities for which quotations are not readily available are valued at fair value as determined by the investment adviser under the supervision of the Board of Directors. The fair value of a security is the amount which the Fund might receive upon a current sale. The fair value of a security may differ from the last quoted price and the Fund may not be able to sell a security at the fair value. Market quotations may not be available, for example, if trading in particular securities was halted during the day and not resumed prior to the close of trading on the NYSE.

Under accounting principles generally accepted in the United States of America (“GAAP”), fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (i.e., the “exit price”) in an orderly transaction between market participants at the measurement date.

In determining fair value, the Fund uses various valuation approaches. GAAP establishes a fair value hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by generally requiring that the most observable inputs be used when available. Observable inputs are those that market participants would use in pricing the asset or liability based on market data obtained from sources independent of the Fund. Unobservable inputs reflect the Fund’s assumptions about the inputs market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. The inputs or methodologies used for valuing securities are not necessarily an indication of the risks associated with investing in those securities.

The fair value hierarchy is categorized into three levels based on the inputs as follows:

Level 1 – Valuations based on unadjusted quoted prices in active markets for identical assets that the Fund has the ability to access.

Level 2 – Valuations based on quoted prices for similar securities or in markets that are not active or for which all significant inputs are observable, either directly or indirectly.

Level 3 – Valuations based on inputs that are unobservable and significant to the overall fair value measurement.

The following table summarizes the Fund’s investments as of December 31, 2020, based on the inputs used to value them:

Valuation Inputs	Investments in Securities
Level 1 - Common Stocks*	$	72,952,712
Rights		1,104
Money Market Fund		572,271
Total Level 1		73,526,087
Level 2 - None		-
Level 3 - Rights		0
Total	$	73,526,087
* Please refer to the Schedule of Investments to view common stocks segregated by industry type.