Reynolds Funds NPORT-P Reynolds Blue Chip Growth Fund (Jun 2022 report)

Reynolds Blue Chip Growth Fund
SCHEDULE OF INVESTMENTS
June 30, 2022 (Unaudited)
	Shares			Value
COMMON STOCKS - 80.3%
Aerospace & Defense - 0.2%
The Boeing Company (n)		400		$	54,688
L3Harris Technologies, Inc.		200			48,340
					103,028
Air Freight & Logistics - 0.8%
C.H. Robinson Worldwide, Inc.		600			60,822
FedEx Corp.		700			158,697
United Parcel Service, Inc., Class B		1,300			237,302
					456,821
Airlines - 0.3%
American Airlines Group, Inc. (n)		2,000			25,360
Delta Air Lines, Inc. (n)		1,500			43,455
Southwest Airlines Company (n)		1,500			54,180
United Airlines Holdings, Inc. (n)		1,000			35,420
					158,415
Automobiles - 3.1%
Tesla, Inc. (n)		2,500			1,683,550
Banks - 0.5%
JPMorgan Chase & Company		2,500			281,525
Beverages - 1.5%
The Coca-Cola Company		2,900			182,439
Constellation Brands, Inc., Class A		1,000			233,060
Keurig Dr Pepper, Inc.		2,700			95,553
Monster Beverage Corp. (n)		500			46,350
PepsiCo, Inc.		1,500			249,990
					807,392
Biotechnology - 2.7%
AbbVie, Inc.		250			38,290
Amgen, Inc.		3,000			729,900
Biogen, Inc. (n)		300			61,182
BioNTech SE - ADR		200			29,820
Horizon Therapeutics PLC (n)		600			47,856
Moderna, Inc. (n)		1,500			214,275
Regeneron Pharmaceuticals, Inc. (n)		350			206,895
Sarepta Therapeutics, Inc. (n)		800			59,968
Vertex Pharmaceuticals, Inc. (n)		300			84,537
					1,472,723
Capital Markets - 1.3%
Blackstone, Inc.		1,300			118,599
The Charles Schwab Corp.		3,000			189,540
Futu Holdings Ltd. - ADR (n)		700			36,547
The Goldman Sachs Group, Inc.		200			59,404
Morgan Stanley		1,800			136,908
Morningstar, Inc.		200			48,366
T. Rowe Price Group, Inc.		800			90,888
					680,252
Chemicals - 0.1%
CF Industries Holdings, Inc.		400			34,292
International Flavors & Fragrances, Inc.		200			23,824
					58,116
Commercial Services & Supplies - 0.1%
Copart, Inc. (n)		700			76,062
Communications Equipment - 0.2%
Cisco Systems, Inc.		1,700			72,488
Infinera Corp. (n)		5,000			26,800
					99,288
Consumer Finance - 0.1%
Discover Financial Services		300			28,374
Diversified Financial Services - 0.5%
Berkshire Hathaway, Inc., Class B (n)		1,000			273,020
Electrical Equipment - 0.2%
Rockwell Automation, Inc.		200			39,862
Sunrun, Inc. (n)		2,700			63,072
					102,934
Electronic Equipment, Instruments & Components - 0.1%
Amphenol Corp., Class A		600			38,628
Energy Equipment & Services - 0.0%
Transocean Ltd. (n)		5,000			16,650
Entertainment - 1.6%
Netflix, Inc. (n)		2,300			402,201
Take-Two Interactive Software, Inc. (n)		300			36,759
The Walt Disney Company (n)		4,600			434,240
					873,200
Equity Real Estate Investment Trusts - 0.2%
SBA Communications Corp.		200			64,010
Ventas, Inc.		800			41,144
					105,154
Food & Staples Retailing - 4.8%
Costco Wholesale Corp.		2,600			1,246,128
Sysco Corp.		1,000			84,710
Walmart, Inc.		10,650			1,294,827
					2,625,665
Food Products - 0.5%
General Mills, Inc.		900			67,905
The Hershey Company		500			107,580
Mondelez International, Inc., Class A		1,700			105,553
					281,038
Health Care Equipment & Supplies - 1.2%
Abbott Laboratories		1,200			130,380
Baxter International, Inc.		1,000			64,230
Becton, Dickinson and Company		300			73,959
Intuitive Surgical, Inc. (n)		1,500			301,065
Masimo Corp. (n)		300			39,201
Medtronic PLC		600			53,850
					662,685
Health Care Providers & Services - 1.3%
AmerisourceBergen Corp.		400			56,592
Cigna Corp.		300			79,056
HCA Healthcare, Inc.		300			50,418
Humana, Inc.		300			140,421
McKesson Corp.		200			65,242
UnitedHealth Group, Inc.		650			333,860
					725,589
Health Care Technology - 0.2%
Teladoc Health, Inc. (n)		2,500			83,025
Hotels, Restaurants & Leisure - 6.3%
Airbnb, Inc., Class A (n)		800			71,264
Booking Holdings, Inc. (n)		350			612,146
Chipotle Mexican Grill, Inc. (n)		650			849,719
Choice Hotels International, Inc.		400			44,652
Dine Brands Global, Inc.		500			32,540
Domino's Pizza, Inc.		150			58,457
Dutch Bros, Inc., Class A (n)		3,600			113,940
Hilton Worldwide Holdings, Inc.		300			33,432
Hyatt Hotels Corp., Class A (n)		500			36,955
Las Vegas Sands Corp. (n)		1,400			47,026
Marriott International, Inc., Class A		400			54,404
McDonald's Corp.		1,300			320,944
MGM Resorts International		4,700			136,065
Penn National Gaming, Inc. (n)		1,100			33,462
Starbucks Corp.		9,500			725,705
Wynn Resorts Ltd. (n)		1,000			56,980
Yum! Brands, Inc.		1,800			204,318
					3,432,009
Household Products - 0.2%
Church & Dwight Company, Inc.		300			27,798
The Procter & Gamble Company		700			100,653
					128,451
Interactive Media & Services - 12.1%
Alphabet, Inc., Class A (n)		1,300			2,833,038
Alphabet, Inc., Class C (n)		1,350			2,953,058
IAC/InterActiveCorp (n)		200			15,194
Meta Platforms, Inc., Class A (n)		4,300			693,375
Twitter, Inc. (n)		1,600			59,824
					6,554,489
Internet & Direct Marketing Retail - 10.2%
Amazon.com, Inc. (n)		51,800			5,501,678
JD.com, Inc. - ADR		600			38,532
Wayfair, Inc., Class A (n)		500			21,780
					5,561,990
IT Services - 2.8%
Automatic Data Processing, Inc.		300			63,012
Cloudflare, Inc., Class A (n)		900			39,375
Gartner, Inc. (n)		200			48,366
International Business Machines Corp.		500			70,595
Mastercard, Inc., Class A		1,400			441,672
MongoDB, Inc. (n)		350			90,825
Paychex, Inc.		300			34,161
Shopify, Inc., Class A (n)		1,500			46,860
Snowflake, Inc., Class A (n)		500			69,530
VeriSign, Inc. (n)		900			150,597
Visa, Inc., Class A		2,400			472,536
					1,527,529
Life Sciences Tools & Services - 0.3%
Agilent Technologies, Inc.		400			47,508
Thermo Fisher Scientific, Inc.		200			108,656
					156,164
Media - 0.2%
Nexstar Media Group, Inc., Class A		600			97,728
Multiline Retail - 0.9%
Dollar General Corp.		1,400			343,616
Dollar Tree, Inc. (n)		800			124,680
Target Corp.		200			28,246
					496,542
Oil, Gas & Consumable Fuels - 0.6%
APA Corp.		900			31,410
Diamondback Energy, Inc.		300			36,345
Occidental Petroleum Corp.		1,600	��		94,208
Ovintiv, Inc.		500			22,095
Texas Pacific Land Corp.		50			74,401
Valero Energy Corp.		400			42,512
					300,971
Personal Products - 0.1%
Medifast, Inc.		400			72,204
Pharmaceuticals - 2.5%
Bristol-Myers Squibb Company		3,300			254,100
Eli Lilly & Company		800			259,384
Johnson & Johnson		1,200			213,012
Merck & Company, Inc.		3,200			291,744
Novo Nordisk A/S - ADR		400			44,572
Pfizer, Inc.		5,200			272,636
					1,335,448
Professional Services - 0.2%
Jacobs Engineering Group, Inc.		300			38,139
Verisk Analytics, Inc.		400			69,236
					107,375
Semiconductors & Semiconductor Equipment - 1.2%
Advanced Micro Devices, Inc. (n)		1,206			92,223
Intel Corp.		1,400			52,374
Marvell Technology, Inc.		1,600			69,648
NVIDIA Corp.		1,400			212,226
ON Semiconductor Corp. (n)		500			25,155
QUALCOMM, Inc.		700			89,418
SunPower Corp. (n)		1,800			28,458
Teradyne, Inc.		500			44,775
Universal Display Corp.		500			50,570
					664,847
Software - 9.3%
Adobe, Inc. (n)		900			329,454
Autodesk, Inc. (n)		600			103,176
Citrix Systems, Inc.		500			48,585
Coupa Software, Inc. (n)		500			28,550
Crowdstrike Holdings, Inc., Class A (n)		750			126,420
Datadog, Inc., Class A (n)		500			47,620
DocuSign, Inc. (n)		1,100			63,118
Fair Isaac Corp. (n)		200			80,180
Fortinet, Inc. (n)		2,250			127,305
Gitlab, Inc., Class A (n)		500			26,570
Intuit, Inc.		150			57,816
Microsoft Corp.		8,200			2,106,006
Oracle Corp.		3,400			237,558
Palantir Technologies, Inc., Class A (n)		4,000			36,280
Palo Alto Networks, Inc. (n)		750			370,455
Salesforce.com, Inc. (n)		4,400			726,176
ServiceNow, Inc. (n)		200			95,104
VMware, Inc., Class A		2,286		��	260,558
Zoom Video Communications, Inc., Class A (n)		1,600			172,752
					5,043,683
Specialty Retail - 5.8%
AutoNation, Inc. (n)		800			89,408
AutoZone, Inc. (n)		300			644,736
Best Buy Company, Inc.		4,400			286,836
Dick's Sporting Goods, Inc.		700			52,759
The Home Depot, Inc.		2,900			795,383
Lowe's Companies, Inc.		4,000			698,680
O'Reilly Automotive, Inc. (n)		100			63,176
RH (n)		100			21,226
Ross Stores, Inc.		2,000			140,460
The TJX Companies, Inc.		2,700			150,795
Tractor Supply Company		300			58,155
Ulta Beauty, Inc. (n)		400			154,192
					3,155,806
Technology Hardware, Storage & Peripherals - 4.9%
Apple, Inc.		18,400			2,515,648
Dell Technologies, Inc., Class C		800			36,968
HP, Inc.		2,500			81,950
					2,634,566
Textiles, Apparel & Luxury Goods - 1.0%
Lululemon Athletica, Inc. (n)		800			218,088
NIKE, Inc., Class B		3,300			337,260
					555,348
Wireless Telecommunication Services - 0.2%
T-Mobile US, Inc. (n)		700			94,178
TOTAL COMMON STOCKS
(cost $38,339,341)					43,612,462
RIGHTS - 0.0%
Biotechnology - 0.0%
Achillion Pharmaceuticals, Inc. (f) (n)		3,000			0
TOTAL RIGHTS
(cost $0)					0
MONEY MARKET FUNDS - 11.2%
Fidelity Government Portfolio, Class I, 1.20% (y)		571,839			571,839
First American Government Obligations Fund, Class X, 1.29% (y)		5,509,000			5,509,000
TOTAL MONEY MARKET FUNDS					6,080,839
(cost $6,080,839)					6,080,839
TOTAL INVESTMENTS - 91.5%
(cost $44,420,180)					49,693,301
Other assets and liabilities, net - 8.5%(a)					4,619,586
TOTAL NET ASSETS - 100.0%				$	54,312,887

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 is the 7-day effective yield as of June 30, 2022.
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 June 30, 2022, based on the inputs used to value them:

Valuation Inputs	Investments in Securities
Level 1 - Common Stocks*	$	43,612,462
Money Market Funds		6,080,839
Total Level 1		49,693,301
Level 2 - None		-
Level 3 - Rights		0
Total	$	49,693,301
* Please refer to the Schedule of Investments to view common stocks segregated by industry type.