Reynolds Funds NPORT-P Reynolds Blue Chip Growth Fund (Jun 2024 report)

Reynolds Blue Chip Growth Fund
Schedule of Investments
as of June 30, 2024 (Unaudited)
COMMON STOCKS - 99.8%	Shares		Value
Aerospace & Defense - 1.1%
General Dynamics Corp.		275	$	79,788
General Electric Co.		3,850		612,035
				691,823
Automobile Components - 0.0%(a)
Modine Manufacturing Co.(b)		200		20,038
Automobiles - 0.1%
Tesla, Inc.(b)		200		39,576
Banks - 0.5%
JPMorgan Chase & Co.		1,650		333,729
Beverages - 0.0%(a)
Monster Beverage Corp.(b)		500		24,975
Biotechnology - 0.3%
BioNTech SE - ADR(b)		550		44,198
CureVac NV(b)		2,000		6,800
Moderna, Inc.(b)		300		35,625
Neurocrine Biosciences, Inc.(b)		400		55,068
United Therapeutics Corp.(b)		100		31,855
				173,546
Broadline Retail - 6.8%
Amazon.com, Inc.(b)		21,950		4,241,837
Coupang, Inc.(b)		1,400		29,330
eBay, Inc.		1,400		75,208
Macy's, Inc.		1,500		28,800
PDD Holdings, Inc. - ADR(b)		250		33,238
				4,408,413
Building Products - 0.3%
Carlisle Cos., Inc.		100		40,521
Johnson Controls International PLC		900		59,823
Trane Technologies PLC		300		98,679
				199,023
Capital Markets - 0.8%
BlackRock, Inc.		100		78,732
Carlyle Group, Inc.		1,300		52,195
Futu Holdings Ltd. - ADR(b)		900		59,044
Goldman Sachs Group, Inc.		300		135,696
Interactive Brokers Group, Inc. - Class A		300		36,780
Morgan Stanley		500		48,595
Robinhood Markets, Inc. - Class A(b)		1,800		40,878
T Rowe Price Group, Inc.		750		86,483
				538,403
Chemicals - 0.1%
Sherwin-Williams Co.		150		44,765
Commercial Services & Supplies - 0.1%
Waste Connections, Inc.		250		43,840
Waste Management, Inc.		200		42,668
				86,508
Communications Equipment - 1.3%
Arista Networks, Inc.(b)		1,550		543,244
Ciena Corp.(b)		700		33,726
Cisco Systems, Inc.		2,800		133,028
F5, Inc.(b)		800		137,784
				847,782
Construction & Engineering - 0.1%
Quanta Services, Inc.		150		38,114
Consumer Finance - 0.5%
American Express Co.		1,400		324,170
Consumer Staples Distribution & Retail - 2.1%
Casey's General Stores, Inc.		125		47,695
Costco Wholesale Corp.		1,200		1,019,988
Dollar General Corp.		250		33,057
Dollar Tree, Inc.(b)		250		26,693
Walmart, Inc.		3,700		250,527
				1,377,960
Containers & Packaging - 0.1%
Avery Dennison Corp.		200		43,730
Diversified Consumer Services - 0.0%(a)
WW International, Inc.(b)		2,000		2,340
Electrical Equipment - 0.5%
Emerson Electric Co.		300		33,048
Encore Wire Corp.		125		36,229
GE Vernova, Inc.(b)		1,037		177,856
Vertiv Holdings Co. - Class A		800		69,256
				316,389
Electronic Equipment, Instruments & Components - 0.8%
Amphenol Corp. - Class A		1,000		67,370
CDW Corp./DE		900		201,456
Celestica, Inc.(b)		400		22,932
Cognex Corp.		500		23,380
Coherent Corp.(b)		900		65,214
Jabil, Inc.		250		27,197
TE Connectivity Ltd.		500		75,215
				482,764
Energy Equipment & Services - 0.1%
Schlumberger NV		900		42,462
Entertainment - 6.4%
Live Nation Entertainment, Inc.(b)		700		65,618
NetEase, Inc. - ADR		200		19,116
Netflix, Inc.(b)		5,650		3,813,072
ROBLOX Corp. - Class A(b)		900		33,489
Roku, Inc.(b)		700		41,951
Spotify Technology SA(b)		450		141,206
Take-Two Interactive Software, Inc.(b)		250		38,872
				4,153,324
Financial Services - 1.0%
Berkshire Hathaway, Inc. - Class B(b)		250		101,700
Block, Inc.(b)		1,100		70,939
Fidelity National Information Services, Inc.		2,100		158,256
Fiserv, Inc.(b)		1,050		156,492
Global Payments, Inc.		400		38,680
Mastercard, Inc. - Class A		175		77,203
Toast, Inc. - Class A(b)		2,800		72,156
				675,426
Ground Transportation - 0.2%
Uber Technologies, Inc.(b)		1,900		138,092
Health Care Equipment & Supplies - 2.0%
Abbott Laboratories		350		36,368
Align Technology, Inc.(b)		150		36,214
Boston Scientific Corp.(b)		3,200		246,432
Edwards Lifesciences Corp.(b)		400		36,948
Intuitive Surgical, Inc.(b)		1,550		689,518
Masimo Corp.(b)		700		88,158
Novocure Ltd.(b)		2,000		34,260
Stryker Corp.		300		102,075
				1,269,973
Health Care Providers & Services - 0.2%
HCA Healthcare, Inc.		150		48,192
Quest Diagnostics, Inc.		250		34,220
Tenet Healthcare Corp.(b)		250		33,258
				115,670
Hotels, Restaurants & Leisure - 6.5%
Airbnb, Inc. - Class A(b)		850		128,885
Booking Holdings, Inc.		450		1,782,675
Chipotle Mexican Grill, Inc.(b)		16,000		1,002,400
Choice Hotels International, Inc.		350		41,650
Domino's Pizza, Inc.		200		103,266
DoorDash, Inc. - Class A(b)		600		65,268
DraftKings, Inc. - Class A(b)		4,400		167,948
Hilton Worldwide Holdings, Inc.		700		152,740
Hyatt Hotels Corp. - Class A		700		106,344
Marriott International, Inc./MD - Class A		550		132,974
Norwegian Cruise Line Holdings Ltd.(b)		1,700		31,943
Royal Caribbean Cruises Ltd.(b)		500		79,715
Shake Shack, Inc. - Class A(b)		1,450		130,500
Starbucks Corp.		1,000		77,850
Wingstop, Inc.		400		169,064
Wyndham Hotels & Resorts, Inc.		400		29,600
				4,202,822
Household Durables - 0.6%
DR Horton, Inc.		250		35,232
KB Home		500		35,090
Lennar Corp. - Class A		1,700		254,779
Sonos, Inc.(b)		2,000		29,520
Toll Brothers, Inc.		500		57,590
				412,211
Industrial Conglomerates - 0.1%
3M Co.		400		40,876
Honeywell International, Inc.		200		42,708
				83,584
Insurance - 0.1%
Progressive Corp.		450		93,470
Interactive Media & Services - 11.9%
Alphabet, Inc. - Class A		8,000		1,457,200
Alphabet, Inc. - Class C		9,900		1,815,858
fuboTV, Inc.(b)		5,000		6,200
Meta Platforms, Inc. - Class A		8,400		4,235,448
Reddit, Inc. - Class A(b)		400		25,556
Snap, Inc. - Class A(b)		5,500		91,355
TripAdvisor, Inc.(b)		2,600		46,306
				7,677,923
IT Services - 1.0%
Accenture PLC - Class A		250		75,853
Cloudflare, Inc. - Class A(b)		1,500		124,245
Cognizant Technology Solutions Corp. - Class A		1,000		68,000
GoDaddy, Inc. - Class A(b)		250		34,927
International Business Machines Corp.		250		43,237
Okta, Inc.(b)		550		51,485
Shopify, Inc. - Class A(b)		1,500		99,075
Snowflake, Inc. - Class A(b)		750		101,318
Wix.com Ltd.(b)		450		71,582
				669,722
Life Sciences Tools & Services - 0.3%
OmniAb, Inc.(b)		2,450		9,188
Thermo Fisher Scientific, Inc.		300		165,900
				175,088
Machinery - 0.3%
Caterpillar, Inc.		400		133,240
Parker-Hannifin Corp.		100		50,581
				183,821
Media - 0.1%
Trade Desk, Inc. - Class A(b)		900		87,903
Oil, Gas & Consumable Fuels - 0.2%
Targa Resources Corp.		250		32,195
Texas Pacific Land Corp.		150		110,141
Vitesse Energy, Inc.		129		3,057
				145,393
Passenger Airlines - 0.3%
Delta Air Lines, Inc.		2,500		118,600
United Airlines Holdings, Inc.(b)		1,800		87,588
				206,188
Personal Care Products - 0.1%
elf Beauty, Inc.(b)		200		42,144
Pharmaceuticals - 1.3%
Eli Lilly & Co.		590		534,174
GSK PLC - ADR		800		30,800
Merck & Co., Inc.		550		68,090
Novartis AG - ADR		300		31,938
Novo Nordisk AS - ADR		1,000		142,740
Pfizer, Inc.		1,200		33,576
				841,318
Professional Services - 0.4%
Equifax, Inc.		275		66,676
Jacobs Solutions, Inc.		250		34,928
Leidos Holdings, Inc.		250		36,470
Paychex, Inc.		250		29,640
Paycom Software, Inc.		200		28,608
Paylocity Holding Corp.(b)		250		32,963
SS&C Technologies Holdings, Inc.		600		37,602
				266,887
Real Estate Management & Development - 0.1%
Redfin Corp.(b)		13,000		78,130
Semiconductors & Semiconductor Equipment - 21.1%
Advanced Micro Devices, Inc.(b)		4,656		755,250
Analog Devices, Inc.		500		114,130
Applied Materials, Inc.		1,050		247,789
ARM Holdings PLC - ADR(b)		4,500		736,290
ASML Holding NV		90		92,046
Axcelis Technologies, Inc.(b)		100		14,219
Broadcom, Inc.		380		610,101
Entegris, Inc.		1,350		182,790
Intel Corp.		2,600		80,522
KLA Corp.		300		247,353
Lam Research Corp.		100		106,485
Marvell Technology, Inc.		3,100		216,690
Micron Technology, Inc.		1,100		144,683
NVIDIA Corp.		68,500		8,462,490
NXP Semiconductors NV		500		134,545
ON Semiconductor Corp.(b)		1,100		75,405
Qorvo, Inc.(b)		250		29,010
QUALCOMM, Inc.		1,050		209,139
Rambus, Inc.(b)		600		35,256
Skyworks Solutions, Inc.		300		31,974
Taiwan Semiconductor Manufacturing Co. Ltd. - ADR		5,000		869,050
Teradyne, Inc.		450		66,730
Texas Instruments, Inc.		200		38,906
Universal Display Corp.		900		189,225
				13,690,078
Software - 20.2%
Adobe, Inc.(b)		200		111,108
ANSYS, Inc.(b)		100		32,150
AppLovin Corp. - Class A(b)		400		33,288
Aspen Technology, Inc.(b)		600		119,178
Autodesk, Inc.(b)		1,300		321,685
Box, Inc. - Class A(b)		2,400		63,456
C3.ai, Inc. - Class A(b)		5,100		147,696
Cadence Design Systems, Inc.(b)		1,450		446,237
Check Point Software Technologies Ltd.(b)		450		74,250
CommVault Systems, Inc.(b)		800		97,256
Crowdstrike Holdings, Inc. - Class A(b)		6,950		2,663,170
CyberArk Software Ltd.(b)		1,550		423,801
Datadog, Inc. - Class A(b)		1,400		181,566
DocuSign, Inc.(b)		1,000		53,500
Fair Isaac Corp.(b)		150		223,299
Five9, Inc.(b)		1,400		61,740
Fortinet, Inc.(b)		1,400		84,378
Intuit, Inc.		200		131,442
JFrog Ltd.(b)		2,100		78,855
Microsoft Corp.		7,950		3,553,253
Monday.com Ltd.(b)		350		84,266
Nice Ltd. - ADR(b)		400		68,788
Oracle Corp.		4,700		663,640
Palantir Technologies, Inc. - Class A(b)		8,700		220,371
Palo Alto Networks, Inc.(b)		3,000		1,017,030
PTC, Inc.(b)		200		36,334
Salesforce, Inc.		5,050		1,298,355
SAP SE - ADR		1,900		383,249
ServiceNow, Inc.(b)		300		236,001
Synopsys, Inc.(b)		50		29,753
Tyler Technologies, Inc.(b)		100		50,278
Workday, Inc. - Class A(b)		300		67,068
				13,056,441
Specialty Retail - 3.2%
Abercrombie & Fitch Co. - Class A(b)		300		53,352
AutoNation, Inc.(b)		250		39,845
AutoZone, Inc.(b)		300		889,230
Best Buy Co., Inc.		2,100		177,009
CarMax, Inc.(b)		500		36,670
Carvana Co.(b)		500		64,360
Dick's Sporting Goods, Inc.		450		96,682
RH(b)		100		24,444
Ross Stores, Inc.		1,300		188,916
TJX Cos., Inc.		2,300		253,230
Tractor Supply Co.		200		54,000
Ulta Beauty, Inc.(b)		100		38,587
Wayfair, Inc. - Class A(b)		800		42,184
Williams-Sonoma, Inc.		400		112,948
				2,071,457
Technology Hardware, Storage & Peripherals - 6.1%
Apple, Inc.		12,600		2,653,812
Dell Technologies, Inc. - Class C		2,650		365,461
Hewlett Packard Enterprise Co.		1,100		23,287
HP, Inc.		800		28,016
Logitech International SA		350		33,908
NetApp, Inc.		1,000		128,800
Pure Storage, Inc. - Class A(b)		500		32,105
Seagate Technology Holdings PLC		300		30,981
Super Micro Computer, Inc.(b)		590		483,417
Western Digital Corp.(b)		2,500		189,425
				3,969,212
Textiles, Apparel & Luxury Goods - 0.2%
Deckers Outdoor Corp.(b)		75		72,596
Lululemon Athletica, Inc.(b)		150		44,805
NIKE, Inc. - Class B		400		30,148
				147,549
Trading Companies & Distributors - 0.2%
Fastenal Co.		800		50,272
WW Grainger, Inc.		100		90,224
				140,496
Water Utilities - 0.1%
American Water Works Co., Inc.		300		38,748
TOTAL COMMON STOCKS (Cost $37,820,638)				64,669,580
REAL ESTATE INVESTMENT TRUSTS - 0.1%	Shares		Value
Digital Realty Trust, Inc.		200		30,410
Simon Property Group, Inc.		250		37,950
TOTAL REAL ESTATE INVESTMENT TRUSTS (Cost $66,854)				68,360
RIGHTS - 0.0%	Contracts		Value
Biotechnology - 0.0%
OmniAb Operations, Inc. — $12.50 Earnout Shares (b)(c)		189		0
OmniAb Operations, Inc. — $15.00 Earnout Shares (b)(c)		189		0
Total Life Sciences Tools & Services				0
TOTAL RIGHTS (Cost $0)				0
SHORT-TERM INVESTMENTS - 0.5%
Money Market Funds - 0.5%	Shares
First American Government Obligations Fund - Class X, 5.23%(d)		314,882		314,882
TOTAL SHORT-TERM INVESTMENTS (Cost $314,882)				314,882
TOTAL INVESTMENTS - 100.4% (Cost $38,202,374)				65,052,822
Liabilities in Excess of Other Assets - (0.4)%				(289,126	)
TOTAL NET ASSETS - 100.0%			$	64,763,696
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.

ADR - American Depositary Receipt

AG - Aktiengesellschaft

NV - Naamloze Vennootschap

PLC - Public Limited Company

SA - Sociedad Anónima

(a)	Represents less than 0.05% of net assets.
(b)	Non-income producing security.
(c)	Fair value determined using significant unobservable inputs in accordance with procedures established by and under the supervision of the Adviser, acting as Valuation Designee. These securities represented $0 or 0.0% of net assets as of June 30, 2024.
(d)	The rate shown represents the 7-day effective yield as of June 30, 2024.

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 as the valuation designee appointed by the Board of Directors (the “Board”), in accordance with valuation procedures approved by the Board. 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, 2024, based on the inputs used to value them:

	Level 1		Level 2		Level 3		Total
Investments:
Common Stocks	$	64,669,580	$	–	$	–	$	64,669,580
Real Estate Investment Trusts		68,360		–		–		68,360
Rights		–		–		0		0
Money Market Funds		314,882		–		–		314,882
Total Investments	$	65,052,822	$	–	$	0	$	65,052,822
Refer to the Schedule of Investments for additional information.