# EDGAR Filing Document

**Accession Number:** 0001815558
**File Stem:** 0001752724-23-009064
**Filing Date:** 2023-1
**Character Count:** 78872
**Document Hash:** 0c6b105540135b9324a5a3ce1899b59a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-009064.hdr.sgml**: 20230123

**ACCESSION NUMBER**: 0001752724-23-009064

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221130

**FILED AS OF DATE**: 20230123

**DATE AS OF CHANGE**: 20230123

**PERIOD START**: 20230228

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Waycross Independent Trust
- **CENTRAL INDEX KEY:** 0001815558
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23581
- **FILM NUMBER:** 23544178

**BUSINESS ADDRESS:**
- **STREET 1:** C/O ULTIMUS FUND SOLUTIONS, LLC
- **STREET 2:** 225 PICTORIA DRIVE, SUITE 450
- **CITY:** CINCINNATI
- **STATE:** OH
- **ZIP:** 45246
- **BUSINESS PHONE:** 513-587-3400

**MAIL ADDRESS:**
- **STREET 1:** C/O ULTIMUS FUND SOLUTIONS, LLC
- **STREET 2:** 225 PICTORIA DRIVE, SUITE 450
- **CITY:** CINCINNATI
- **STATE:** OH
- **ZIP:** 45246

## Series and Classes Contracts Data

### WAYCROSS LONG/SHORT EQUITY FUND (Series ID: S000069481)

| Class ID   | Class Name                      | Ticker Symbol   |
|:---|:---|:---|
| C000221782 | WAYCROSS LONG/SHORT EQUITY FUND | WAYEX           |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **WAYCROSS LONG/SHORT EQUITY FUND** | **WAYCROSS LONG/SHORT EQUITY FUND** | **WAYCROSS LONG/SHORT EQUITY FUND** |
| **SCHEDULE OF INVESTMENTS** | **SCHEDULE OF INVESTMENTS** | **SCHEDULE OF INVESTMENTS** |
| **November 30, 2022 (Unaudited)** | **November 30, 2022 (Unaudited)** | **November 30, 2022 (Unaudited)** |
| **COMMON STOCKS - 100.2%** | **Shares** | **Value** |
| **Communications - 6.3%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Internet Media & Services - 6.3%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Inc. - Class A <sup>(a)(b)</sup> | &nbsp;&nbsp;17800 | &nbsp;&nbsp;$1797622 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DoorDash, Inc. - Class A <sup>(a)</sup> | &nbsp;&nbsp;10786 | &nbsp;&nbsp;628285 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Expedia Group, Inc. <sup>(a)</sup> | &nbsp;&nbsp;4591 | &nbsp;&nbsp;490502 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Meta Platforms, Inc. - Class A <sup>(a)(b)</sup> | &nbsp;&nbsp;10072 | &nbsp;&nbsp;1189503 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Netflix, Inc. <sup>(a)</sup> | &nbsp;&nbsp;3411 | &nbsp;&nbsp;1042163 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Roku, Inc. <sup>(a)</sup> | &nbsp;&nbsp;7596 | &nbsp;&nbsp;450975 |
|  |  | &nbsp;&nbsp;5599050 |
| **Consumer Discretionary - 17.2%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*E-Commerce Discretionary - 3.4%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amazon.com, Inc. <sup>(a)(b)</sup> | &nbsp;&nbsp;24336 | &nbsp;&nbsp;2349397 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MercadoLibre, Inc. <sup>(a)</sup> | &nbsp;&nbsp;667 | &nbsp;&nbsp;620967 |
|  |  | &nbsp;&nbsp;2970364 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Leisure Facilities & Services - 6.3%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chipotle Mexican Grill, Inc. <sup>(a)</sup> | &nbsp;&nbsp;301 | &nbsp;&nbsp;489715 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Las Vegas Sands Corporation <sup>(a)</sup> | &nbsp;&nbsp;13074 | &nbsp;&nbsp;612386 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MGM Resorts International | &nbsp;&nbsp;15949 | &nbsp;&nbsp;587880 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Royal Caribbean Cruises Ltd. <sup>(a)</sup> | &nbsp;&nbsp;13142 | &nbsp;&nbsp;787600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Starbucks Corporation | &nbsp;&nbsp;25275 | &nbsp;&nbsp;2583105 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Texas Roadhouse, Inc. | &nbsp;&nbsp;5398 | &nbsp;&nbsp;536130 |
|  |  | &nbsp;&nbsp;5596816 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Retail - Discretionary - 7.5%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Home Depot, Inc. (The) | &nbsp;&nbsp;1609 | &nbsp;&nbsp;521300 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;lululemon athletica, inc. <sup>(a)</sup> | &nbsp;&nbsp;1197 | &nbsp;&nbsp;455231 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;O'Reilly Automotive, Inc. <sup>(a)</sup> | &nbsp;&nbsp;855 | &nbsp;&nbsp;739182 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TJX Companies, Inc. (The) | &nbsp;&nbsp;30197 | &nbsp;&nbsp;2417270 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ulta Beauty, Inc. <sup>(a)</sup> | &nbsp;&nbsp;5340 | &nbsp;&nbsp;2482245 |
|  |  | &nbsp;&nbsp;6615228 |
| **Consumer Staples - 2.1%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Retail - Consumer Staples - 0.7%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Target Corporation | &nbsp;&nbsp;3510 | &nbsp;&nbsp;586416 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Wholesale - Consumer Staples - 1.4%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sysco Corporation <sup>(b)</sup> | &nbsp;&nbsp;14470 | &nbsp;&nbsp;1251799 |

---

---

| | | |
|:---|:---|:---|
| **WAYCROSS LONG/SHORT EQUITY FUND** | **WAYCROSS LONG/SHORT EQUITY FUND** | **WAYCROSS LONG/SHORT EQUITY FUND** |
| **SCHEDULE OF INVESTMENTS (Continued)** | **SCHEDULE OF INVESTMENTS (Continued)** | **SCHEDULE OF INVESTMENTS (Continued)** |
| **COMMON STOCKS - 100.2% (Continued)** | **Shares** | **Value** |
| **Energy - 4.2%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Oil & Gas Producers - 1.4%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pioneer Natural Resources Company | &nbsp;&nbsp;5000 | &nbsp;&nbsp;$1179950 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Oil & Gas Services & Equipment - 2.8%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Halliburton Company | &nbsp;&nbsp;33100 | &nbsp;&nbsp;1254159 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Schlumberger Ltd. | &nbsp;&nbsp;24100 | &nbsp;&nbsp;1242355 |
|  |  | &nbsp;&nbsp;2496514 |
| **Financials - 11.5%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Banking - 8.0%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Citigroup, Inc. <sup>(b)</sup> | &nbsp;&nbsp;16650 | &nbsp;&nbsp;806027 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;JPMorgan Chase & Company | &nbsp;&nbsp;10769 | &nbsp;&nbsp;1488060 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PNC Financial Services Group, Inc. (The) <sup>(b)</sup> | &nbsp;&nbsp;8160 | &nbsp;&nbsp;1373002 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U.S. Bancorp | &nbsp;&nbsp;27900 | &nbsp;&nbsp;1266381 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wells Fargo & Company | &nbsp;&nbsp;45178 | &nbsp;&nbsp;2166285 |
|  |  | &nbsp;&nbsp;7099755 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Institutional Financial Services - 3.5%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Goldman Sachs Group, Inc. (The) <sup>(b)</sup> | &nbsp;&nbsp;7950 | &nbsp;&nbsp;3069892 |
| **Health Care - 20.5%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Biotech & Pharma - 8.9%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AbbVie, Inc. <sup>(b)</sup> | &nbsp;&nbsp;20100 | &nbsp;&nbsp;3239718 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BioMarin Pharmaceutical, Inc. <sup>(a)</sup> | &nbsp;&nbsp;7000 | &nbsp;&nbsp;706860 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Elanco Animal Health, Inc. <sup>(a)(b)</sup> | &nbsp;&nbsp;42400 | &nbsp;&nbsp;545688 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Eli Lilly & Company <sup>(b)</sup> | &nbsp;&nbsp;9090 | &nbsp;&nbsp;3373117 |
|  |  | &nbsp;&nbsp;7865383 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Health Care Facilities & Services - 3.6%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AmerisourceBergen Corporation | &nbsp;&nbsp;8000 | &nbsp;&nbsp;1365520 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CVS Health Corporation | &nbsp;&nbsp;12400 | &nbsp;&nbsp;1263312 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Humana, Inc. | &nbsp;&nbsp;900 | &nbsp;&nbsp;494910 |
|  |  | &nbsp;&nbsp;3123742 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Medical Equipment & Devices - 8.0%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Align Technology, Inc. <sup>(a)</sup> | &nbsp;&nbsp;500 | &nbsp;&nbsp;98330 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Boston Scientific Corporation <sup>(a)</sup> | &nbsp;&nbsp;22000 | &nbsp;&nbsp;995940 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Danaher Corporation <sup>(b)</sup> | &nbsp;&nbsp;3600 | &nbsp;&nbsp;984276 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DexCom, Inc. <sup>(a)</sup> | &nbsp;&nbsp;5400 | &nbsp;&nbsp;627912 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Edwards Lifesciences Corporation <sup>(a)</sup> | &nbsp;&nbsp;19166 | &nbsp;&nbsp;1480574 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Intuitive Surgical, Inc. <sup>(a)</sup> | &nbsp;&nbsp;10715 | &nbsp;&nbsp;2897229 |
|  |  | &nbsp;&nbsp;7084261 |

---

---

| | | |
|:---|:---|:---|
| **WAYCROSS LONG/SHORT EQUITY FUND** | **WAYCROSS LONG/SHORT EQUITY FUND** | **WAYCROSS LONG/SHORT EQUITY FUND** |
| **SCHEDULE OF INVESTMENTS (Continued)** | **SCHEDULE OF INVESTMENTS (Continued)** | **SCHEDULE OF INVESTMENTS (Continued)** |
| **COMMON STOCKS - 100.2% (Continued)** | **Shares** | **Value** |
| **Industrials - 11.7%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Aerospace & Defense - 2.9%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Boeing Company (The) <sup>(a)</sup> | &nbsp;&nbsp;7600 | &nbsp;&nbsp;$1359488 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Raytheon Technologies Corporation | &nbsp;&nbsp;11700 | &nbsp;&nbsp;1155024 |
|  |  | &nbsp;&nbsp;2514512 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Diversified Industrials - 1.5%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Honeywell International, Inc. | &nbsp;&nbsp;6000 | &nbsp;&nbsp;1317300 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Engineering & Construction - 1.5%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fluor Corporation <sup>(a)</sup> | &nbsp;&nbsp;40300 | &nbsp;&nbsp;1354483 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Machinery - 1.4%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deere & Company | &nbsp;&nbsp;2800 | &nbsp;&nbsp;1234800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Transportation & Logistics - 2.9%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FedEx Corporation | &nbsp;&nbsp;5000 | &nbsp;&nbsp;911100 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Norfolk Southern Corporation | &nbsp;&nbsp;6325 | &nbsp;&nbsp;1622363 |
|  |  | &nbsp;&nbsp;2533463 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Transportation Equipment - 1.5%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cummins, Inc. | &nbsp;&nbsp;5350 | &nbsp;&nbsp;1343706 |
| **Technology - 26.7%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Semiconductors - 4.7%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Analog Devices, Inc. <sup>(b)</sup> | &nbsp;&nbsp;11325 | &nbsp;&nbsp;1946880 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Marvell Technology, Inc. | &nbsp;&nbsp;12250 | &nbsp;&nbsp;569870 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NVIDIA Corporation | &nbsp;&nbsp;9625 | &nbsp;&nbsp;1628839 |
|  |  | &nbsp;&nbsp;4145589 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Software - 7.7%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Adobe, Inc. <sup>(a)(b)</sup> | &nbsp;&nbsp;3425 | &nbsp;&nbsp;1181385 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Atlassian Corporation - Class A <sup>(a)</sup> | &nbsp;&nbsp;3450 | &nbsp;&nbsp;453847 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Intuit, Inc. | &nbsp;&nbsp;2050 | &nbsp;&nbsp;835560 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Microsoft Corporation <sup>(b)</sup> | &nbsp;&nbsp;12995 | &nbsp;&nbsp;3315544 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Salesforce, Inc. <sup>(a)</sup> | &nbsp;&nbsp;3246 | &nbsp;&nbsp;520172 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Snowflake, Inc. - Class A <sup>(a)</sup> | &nbsp;&nbsp;3500 | &nbsp;&nbsp;500150 |
|  |  | &nbsp;&nbsp;6806658 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Technology Hardware - 7.0%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Apple, Inc. <sup>(b)</sup> | &nbsp;&nbsp;18150 | &nbsp;&nbsp;2686744 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cisco Systems, Inc. | &nbsp;&nbsp;58837 | &nbsp;&nbsp;2925376 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Seagate Technology Holdings plc | &nbsp;&nbsp;9800 | &nbsp;&nbsp;519106 |
|  |  | &nbsp;&nbsp;6131226 |

---

---

| | | |
|:---|:---|:---|
| **WAYCROSS LONG/SHORT EQUITY FUND** | **WAYCROSS LONG/SHORT EQUITY FUND** | **WAYCROSS LONG/SHORT EQUITY FUND** |
| **SCHEDULE OF INVESTMENTS (Continued)** | **SCHEDULE OF INVESTMENTS (Continued)** | **SCHEDULE OF INVESTMENTS (Continued)** |
| **COMMON STOCKS - 100.2% (Continued)** | **Shares** | **Value** |
| **Technology - 26.7% (Continued)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Technology Services - 7.3%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fiserv, Inc. <sup>(a)</sup> | &nbsp;&nbsp;12100 | &nbsp;&nbsp;$1262756 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mastercard, Inc. - Class A <sup>(b)</sup> | &nbsp;&nbsp;8300 | &nbsp;&nbsp;2958120 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PayPal Holdings, Inc. <sup>(a)(b)</sup> | &nbsp;&nbsp;16750 | &nbsp;&nbsp;1313368 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Visa, Inc. - Class A | &nbsp;&nbsp;4349 | &nbsp;&nbsp;943733 |
|  |  | &nbsp;&nbsp;6477977 |
| **Total Common Stocks** (Cost $68,722,428) | **Total Common Stocks** (Cost $68,722,428) | &nbsp;&nbsp;$88398884 |
| **MONEY MARKET FUNDS - 7.5%** | **Shares** | **Value** |
| Fidelity Institutional Money Market Government Portfolio - <br> Class I, 3.55% <sup>(c)</sup> (Cost $6,625,150) | &nbsp;&nbsp;6625150 | &nbsp;&nbsp;$6625150 |
| **Investments at Value - 107.7%** (Cost $75,347,578) | **Investments at Value - 107.7%** (Cost $75,347,578) | &nbsp;&nbsp;$95024034 |
| **Liabilities in Excess of Other Assets - (7.7%)** | **Liabilities in Excess of Other Assets - (7.7%)** | &nbsp;&nbsp; (6763799) |
| **Net Assets - 100.0%** | **Net Assets - 100.0%** | &nbsp;&nbsp;$88260235 |

---

plc - Public Limited Company <br>

<sup>(a)</sup> Non-income producing security.

<sup>(b)</sup> All or a portion this security is pledged as collateral for open short positions. The total value of such securities as of November 30, 2022 was $24,441,755.

<sup>(c)</sup> The rate shown is the 7-day effective yield as of November 30, 2022.

---

| | | |
|:---|:---|:---|
| **WAYCROSS LONG/SHORT EQUITY FUND** | **WAYCROSS LONG/SHORT EQUITY FUND** | **WAYCROSS LONG/SHORT EQUITY FUND** |
| **SCHEDULE OF SECURITIES SOLD SHORT** | **SCHEDULE OF SECURITIES SOLD SHORT** | **SCHEDULE OF SECURITIES SOLD SHORT** |
| **November 30, 2022 (Unaudited)** | **November 30, 2022 (Unaudited)** | **November 30, 2022 (Unaudited)** |
| **COMMON STOCKS - 47.5%** | **Shares** | **Value** |
| **Communications - 2.2%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Cable & Satellite - 1.1%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Comcast Corporation - Class A | &nbsp;&nbsp;26801 | &nbsp;&nbsp;$981989 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Internet Media & Services - 1.1%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Booking Holdings, Inc. | &nbsp;&nbsp;248 | &nbsp;&nbsp;515704 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Uber Technologies, Inc. | &nbsp;&nbsp;15417 | &nbsp;&nbsp;449251 |
|  |  | &nbsp;&nbsp;964955 |
| **Consumer Discretionary - 9.5%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Apparel & Textile Products - 0.7%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Nike, Inc. - Class B | &nbsp;&nbsp;5307 | &nbsp;&nbsp;582125 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Automotive - 0.7%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Harley-Davidson, Inc. | &nbsp;&nbsp;13683 | &nbsp;&nbsp;644880 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*E-Commerce Discretionary - 0.7%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;eBay, Inc. | &nbsp;&nbsp;13244 | &nbsp;&nbsp;601807 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Leisure Facilities & Services - 4.0%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Carnival Corporation | &nbsp;&nbsp;86361 | &nbsp;&nbsp;857565 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Darden Restaurants, Inc. | &nbsp;&nbsp;3841 | &nbsp;&nbsp;564589 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;McDonald's Corporation | &nbsp;&nbsp;1913 | &nbsp;&nbsp;521847 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Penn Entertainment, Inc. | &nbsp;&nbsp;21826 | &nbsp;&nbsp;768057 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wynn Resorts Ltd. | &nbsp;&nbsp;3562 | &nbsp;&nbsp;297997 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Yum! Brands, Inc. | &nbsp;&nbsp;4202 | &nbsp;&nbsp;540629 |
|  |  | &nbsp;&nbsp;3550684 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Retail - Discretionary - 3.4%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AutoZone, Inc. | &nbsp;&nbsp;225 | &nbsp;&nbsp;580275 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Best Buy Company, Inc. | &nbsp;&nbsp;12496 | &nbsp;&nbsp;1065909 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CarMax, Inc. | &nbsp;&nbsp;5269 | &nbsp;&nbsp;365458 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lowe's Companies, Inc. | &nbsp;&nbsp;2491 | &nbsp;&nbsp;529462 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Williams-Sonoma, Inc. | &nbsp;&nbsp;4143 | &nbsp;&nbsp;484316 |
|  |  | &nbsp;&nbsp;3025420 |
| **Consumer Staples - 1.7%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Retail - Consumer Staples - 1.7%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Walgreens Boots Alliance, Inc. | &nbsp;&nbsp;22000 | &nbsp;&nbsp;913000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Walmart, Inc. | &nbsp;&nbsp;3890 | &nbsp;&nbsp;592914 |
|  |  | &nbsp;&nbsp;1505914 |

---

---

| | | |
|:---|:---|:---|
| **WAYCROSS LONG/SHORT EQUITY FUND** | **WAYCROSS LONG/SHORT EQUITY FUND** | **WAYCROSS LONG/SHORT EQUITY FUND** |
| **SCHEDULE OF SECURITIES SOLD SHORT (Continued)** | **SCHEDULE OF SECURITIES SOLD SHORT (Continued)** | **SCHEDULE OF SECURITIES SOLD SHORT (Continued)** |
| **COMMON STOCKS - 47.5% (Continued)** | **Shares** | **Value** |
| **Energy - 4.3%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Oil & Gas Producers - 2.8%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chevron Corporation | &nbsp;&nbsp;6850 | &nbsp;&nbsp;$1255673 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Valero Energy Corporation | &nbsp;&nbsp;9300 | &nbsp;&nbsp;1242666 |
|  |  | &nbsp;&nbsp;2498339 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Oil & Gas Services & Equipment - 1.5%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Baker Hughes Company | &nbsp;&nbsp;44000 | &nbsp;&nbsp;1276880 |
| **Financials - 2.5%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Banking - 1.1%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;UMB Financial Corporation | &nbsp;&nbsp;12000 | &nbsp;&nbsp;1026240 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Institutional Financial Services - 1.4%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Morgan Stanley | &nbsp;&nbsp;13000 | &nbsp;&nbsp;1209910 |
| **Health Care - 9.4%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Biotech & Pharma - 3.6%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amgen, Inc. | &nbsp;&nbsp;3000 | &nbsp;&nbsp;859200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Johnson & Johnson | &nbsp;&nbsp;6300 | &nbsp;&nbsp;1121400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pfizer, Inc. | &nbsp;&nbsp;9000 | &nbsp;&nbsp;451170 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Zoetis, Inc. | &nbsp;&nbsp;4800 | &nbsp;&nbsp;739872 |
|  |  | &nbsp;&nbsp;3171642 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Health Care Facilities & Services - 1.6%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Elevance Health, Inc. | &nbsp;&nbsp;975 | &nbsp;&nbsp;519597 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Patterson Companies, Inc. | &nbsp;&nbsp;30000 | &nbsp;&nbsp;853200 |
|  |  | &nbsp;&nbsp;1372797 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Medical Equipment & Devices - 4.2%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Becton, Dickinson and Company | &nbsp;&nbsp;3950 | &nbsp;&nbsp;984893 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IDEXX Laboratories, Inc. | &nbsp;&nbsp;1300 | &nbsp;&nbsp;553631 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Medtronic plc | &nbsp;&nbsp;9700 | &nbsp;&nbsp;766688 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PerkinElmer, Inc. | &nbsp;&nbsp;4000 | &nbsp;&nbsp;558920 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Zimmer Biomet Holdings, Inc. | &nbsp;&nbsp;7400 | &nbsp;&nbsp;888740 |
|  |  | &nbsp;&nbsp;3752872 |
| **Industrials - 5.8%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Diversified Industrials - 1.6%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;General Electric Company | &nbsp;&nbsp;16300 | &nbsp;&nbsp;1401311 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Machinery - 2.9%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ingersoll Rand, Inc. | &nbsp;&nbsp;22400 | &nbsp;&nbsp;1208928 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Roper Technologies, Inc. | &nbsp;&nbsp;3000 | &nbsp;&nbsp;1316670 |
|  |  | &nbsp;&nbsp;2525598 |

---

---

| | | |
|:---|:---|:---|
| **WAYCROSS LONG/SHORT EQUITY FUND** | **WAYCROSS LONG/SHORT EQUITY FUND** | **WAYCROSS LONG/SHORT EQUITY FUND** |
| **SCHEDULE OF SECURITIES SOLD SHORT (Continued)** | **SCHEDULE OF SECURITIES SOLD SHORT (Continued)** | **SCHEDULE OF SECURITIES SOLD SHORT (Continued)** |
| **COMMON STOCKS - 47.5% (Continued)** | **Shares** | **Value** |
| **Industrials - 5.8% (Continued)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Transportation & Logistics - 1.3%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Knight-Swift Transportation Holdings, Inc. | &nbsp;&nbsp;21100 | &nbsp;&nbsp;$1169573 |
| **Materials - 1.4%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Chemicals - 1.4%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Celanese Corporation | &nbsp;&nbsp;11100 | &nbsp;&nbsp;1191030 |
| **Technology - 10.7%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Semiconductors - 3.8%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Applied Materials, Inc. | &nbsp;&nbsp;4500 | &nbsp;&nbsp;493200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Intel Corporation | &nbsp;&nbsp;20900 | &nbsp;&nbsp;628463 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Microchip Technology, Inc. | &nbsp;&nbsp;17000 | &nbsp;&nbsp;1346230 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Texas Instruments, Inc. | &nbsp;&nbsp;5100 | &nbsp;&nbsp;920346 |
|  |  | &nbsp;&nbsp;3388239 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Software - 3.6%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Autodesk, Inc. | &nbsp;&nbsp;4100 | &nbsp;&nbsp;827995 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Oracle Corporation | &nbsp;&nbsp;13400 | &nbsp;&nbsp;1112602 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Workday, Inc. - Class A | &nbsp;&nbsp;7200 | &nbsp;&nbsp;1208880 |
|  |  | &nbsp;&nbsp;3149477 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Technology Hardware - 0.9%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;HP, Inc. | &nbsp;&nbsp;25150 | &nbsp;&nbsp;755506 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Technology Services - 2.4%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accenture plc - Class A | &nbsp;&nbsp;3363 | &nbsp;&nbsp;1012028 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;International Business Machines Corporation | &nbsp;&nbsp;7700 | &nbsp;&nbsp;1146530 |
|  |  | &nbsp;&nbsp;2158558 |
| **Total Securities Sold Short - 47.5%** (Proceeds $41,328,688) | **Total Securities Sold Short - 47.5%** (Proceeds $41,328,688) | &nbsp;&nbsp;$41905746 |

---

plc - Public Limited Company <br>

---

| | | |
|:---|:---|:---|
| **WAYCROSS FOCUSED CORE EQUITY FUND** | **WAYCROSS FOCUSED CORE EQUITY FUND** | **WAYCROSS FOCUSED CORE EQUITY FUND** |
| **SCHEDULE OF INVESTMENTS** | **SCHEDULE OF INVESTMENTS** | **SCHEDULE OF INVESTMENTS** |
| **November 30, 2022 (Unaudited)** | **November 30, 2022 (Unaudited)** | **November 30, 2022 (Unaudited)** |
| **COMMON STOCKS - 98.8%** | **Shares** | **Value** |
| **Communications - 5.9%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Internet Media & Services - 5.9%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Inc. - Class A <sup>(a)</sup> | &nbsp;&nbsp;3591 | &nbsp;&nbsp;$362655 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Meta Platforms, Inc. - Class A <sup>(a)</sup> | &nbsp;&nbsp;2006 | &nbsp;&nbsp;236909 |
|  |  | &nbsp;&nbsp;599564 |
| **Consumer Discretionary - 15.1%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*E-Commerce Discretionary - 3.4%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amazon.com, Inc. <sup>(a)</sup> | &nbsp;&nbsp;3549 | &nbsp;&nbsp;342620 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Leisure Facilities & Services - 3.8%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Starbucks Corporation | &nbsp;&nbsp;3699 | &nbsp;&nbsp;378038 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Retail - Discretionary - 7.9%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TJX Companies, Inc. (The) | &nbsp;&nbsp;4363 | &nbsp;&nbsp;349258 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ulta Beauty, Inc. <sup>(a)</sup> | &nbsp;&nbsp;963 | &nbsp;&nbsp;447641 |
|  |  | &nbsp;&nbsp;796899 |
| **Consumer Staples - 2.7%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Wholesale - Consumer Staples - 2.7%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sysco Corporation | &nbsp;&nbsp;3143 | &nbsp;&nbsp;271901 |
| **Financials - 16.2%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Banking - 12.2%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Citigroup, Inc. | &nbsp;&nbsp;3471 | &nbsp;&nbsp;168031 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;JPMorgan Chase & Company | &nbsp;&nbsp;2146 | &nbsp;&nbsp;296534 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PNC Financial Services Group, Inc. (The) | &nbsp;&nbsp;1810 | &nbsp;&nbsp;304551 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U.S. Bancorp | &nbsp;&nbsp;5277 | &nbsp;&nbsp;239523 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wells Fargo & Company | &nbsp;&nbsp;4571 | &nbsp;&nbsp;219180 |
|  |  | &nbsp;&nbsp;1227819 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Institutional Financial Services - 4.0%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Goldman Sachs Group, Inc. (The) | &nbsp;&nbsp;1054 | &nbsp;&nbsp;407002 |
| **Health Care - 17.4%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Biotech & Pharma - 9.7%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AbbVie, Inc. | &nbsp;&nbsp;2930 | &nbsp;&nbsp;472258 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Elanco Animal Health, Inc. <sup>(a)</sup> | &nbsp;&nbsp;10398 | &nbsp;&nbsp;133822 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Eli Lilly & Company | &nbsp;&nbsp;1014 | &nbsp;&nbsp;376275 |
|  |  | &nbsp;&nbsp;982355 |

---

---

| | | |
|:---|:---|:---|
| **WAYCROSS FOCUSED CORE EQUITY FUND** | **WAYCROSS FOCUSED CORE EQUITY FUND** | **WAYCROSS FOCUSED CORE EQUITY FUND** |
| **SCHEDULE OF INVESTMENTS (Continued)** | **SCHEDULE OF INVESTMENTS (Continued)** | **SCHEDULE OF INVESTMENTS (Continued)** |
| **COMMON STOCKS - 98.8% (Continued)** | **Shares** | **Value** |
| **Health Care - 17.4% (Continued)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Medical Equipment & Devices - 7.7%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Edwards Lifesciences Corporation <sup>(a)</sup> | &nbsp;&nbsp;4377 | &nbsp;&nbsp;$338123 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Intuitive Surgical, Inc. <sup>(a)</sup> | &nbsp;&nbsp;1609 | &nbsp;&nbsp;435057 |
|  |  | &nbsp;&nbsp;773180 |
| **Industrials - 8.7%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Engineering & Construction - 2.8%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fluor Corporation <sup>(a)</sup> | &nbsp;&nbsp;8394 | &nbsp;&nbsp;282122 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Transportation & Logistics - 5.9%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FedEx Corporation | &nbsp;&nbsp;1387 | &nbsp;&nbsp;252739 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Norfolk Southern Corporation | &nbsp;&nbsp;1327 | &nbsp;&nbsp;340376 |
|  |  | &nbsp;&nbsp;593115 |
| **Technology - 32.8%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Semiconductors - 7.2%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Analog Devices, Inc. | &nbsp;&nbsp;2222 | &nbsp;&nbsp;381984 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NVIDIA Corporation | &nbsp;&nbsp;2066 | &nbsp;&nbsp;349629 |
|  |  | &nbsp;&nbsp;731613 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Software - 8.0%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Adobe, Inc. <sup>(a)</sup> | &nbsp;&nbsp;702 | &nbsp;&nbsp;242141 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Microsoft Corporation | &nbsp;&nbsp;2196 | &nbsp;&nbsp;560287 |
|  |  | &nbsp;&nbsp;802428 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Technology Hardware - 10.4%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Apple, Inc. | &nbsp;&nbsp;4516 | &nbsp;&nbsp;668503 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cisco Systems, Inc. | &nbsp;&nbsp;7569 | &nbsp;&nbsp;376331 |
|  |  | &nbsp;&nbsp;1044834 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*Technology Services - 7.2%* |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mastercard, Inc. - Class A | &nbsp;&nbsp;1032 | &nbsp;&nbsp;367805 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PayPal Holdings, Inc. <sup>(a)</sup> | &nbsp;&nbsp;2158 | &nbsp;&nbsp;169209 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Visa, Inc. - Class A | &nbsp;&nbsp;875 | &nbsp;&nbsp;189875 |
|  |  | &nbsp;&nbsp;726889 |
| **Total Common Stocks** (Cost $10,374,079) | **Total Common Stocks** (Cost $10,374,079) | &nbsp;&nbsp;$9960379 |

---

---

| | | |
|:---|:---|:---|
| **WAYCROSS FOCUSED CORE EQUITY FUND** | **WAYCROSS FOCUSED CORE EQUITY FUND** | **WAYCROSS FOCUSED CORE EQUITY FUND** |
| **SCHEDULE OF INVESTMENTS (Continued)** | **SCHEDULE OF INVESTMENTS (Continued)** | **SCHEDULE OF INVESTMENTS (Continued)** |
| **MONEY MARKET FUNDS - 1.0%** | **Shares** | **Value** |
| Fidelity Institutional Money Market Government Portfolio - <br> Class I, 3.55% <sup>(b)</sup> (Cost $99,806) | &nbsp;&nbsp;99806 | &nbsp;&nbsp;$99806 |
| **Investments at Value - 99.8%** (Cost $10,473,885) | **Investments at Value - 99.8%** (Cost $10,473,885) | &nbsp;&nbsp;$10060185 |
| **Other Assets in Excess of Liabilities - 0.2%** | **Other Assets in Excess of Liabilities - 0.2%** | &nbsp;&nbsp;15212 |
| **Net Assets - 100.0%** | **Net Assets - 100.0%** | &nbsp;&nbsp;$10075397 |

---

<sup>(a)</sup> Non-income producing security. <br> <sup>(b)</sup> The rate shown is the 7-day effective yield as of November 30, 2022.

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Waycross Independent Trust

- **b. Investment Company Act file number:** 811-23581

- **c. CIK number of Registrant:** 0001815558

- **d. LEI of Registrant:** 549300V2Z4A93B0ZQR11

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 4965 U.S. Highway 42

  - **City:** Louisville

  - **State:** KY

  - **Foreign country:** US

  - **Zip / Postal Code:** 40222

  - **Telephone number:** (502) 410-1912

**Item A.2. Information about the Series.**

- **a. Name of Series:** WAYCROSS LONG/SHORT EQUITY FUND

- **b. EDGAR series identifier (if any):** S000069481

- **c. LEI of Series:** 549300U60O75JGNNWC07

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2023-02-28

- **b. Date as of which information is reported:** 2022-11-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $131710270.22

**Total Liabilities:** $43450035.38

**Net Assets:** $88260234.84

**Cash Not Reported:** $35577988.54

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000221782 | -3.93%               | 4.80%                | 2.93%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-59253.99               | $-3469384.70                               |
| Month 2  | $161141.93               | $3913174.77                                |
| Month 3  | $218515.66               | $2248021.96                                |

**Designated Index Information**

- **Index Name:** S&P 500 (Price)

- **Index Identifier:** 500

### Schedule of Portfolio Investments

| Name                                        | Title                                                     | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Perkinelmer, Inc.                           | PERKINELMER, INC. SHORT                                   | CUSIP: 714046109<br>LEI: 549300IKL1SDPFI7N655 | Short            | EC               | CORP              | US        |     -4000 | NS      | $-558920.00   | -0.63%            |  |  |  | No            |                  1 | On Loan: No      |
| Meta Platforms Inc                          | Meta Platforms, Inc. Class A                              | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |     10072 | NS      | $1189503.20   | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| General Electric Company                    | General Electric Company Short                            | CUSIP: 369604301<br>LEI: 3C7474T6CDKPR9K6YT90 | Short            | EC               | CORP              | US        |    -16300 | NS      | $-1401311.00  | -1.59%            |  |  |  | No            |                  1 | On Loan: No      |
| Deere & Company                             | Deere & Company                                           | CUSIP: 244199105<br>LEI: PWFTNG3EI0Y73OXWDH08 | Long             | EC               | CORP              | US        |      2800 | NS      | $1234800.00   | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Netflix, Inc.                               | Netflix, Inc.                                             | CUSIP: 64110L106<br>LEI: 549300Y7VHGU0I7CE873 | Long             | EC               | CORP              | US        |      3411 | NS      | $1042162.83   | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Royal Caribbean Group                       | Royal Caribbean Cruises Ltd.                              | CUSIP: V7780T103<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | EC               | CORP              | US        |     13142 | NS      | $787600.06    | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Pioneer Natural Resources Company           | Pioneer Natural Resources Company                         | CUSIP: 723787107<br>LEI: FY8JBF7CCL2VE4F1B628 | Long             | EC               | CORP              | US        |      5000 | NS      | $1179950.00   | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| PNC Financial Services Group Inc            | PNC Financial Services Group, Inc. (The)                  | CUSIP: 693475105<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | EC               | CORP              | US        |      8160 | NS      | $1373001.60   | 1.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Zoetis Inc.                                 | Zoetis, Inc.                                              | CUSIP: 98978V103<br>LEI: 549300HD9Q1LOC9KLJ48 | Short            | EC               | CORP              | US        |     -4800 | NS      | $-739872.00   | -0.84%            |  |  |  | No            |                  1 | On Loan: No      |
| Adobe Inc                                   | Adobe, Inc.                                               | CUSIP: 00724F101<br>LEI: FU4LY2G4933NH2E1CP29 | Long             | EC               | CORP              | US        |      3425 | NS      | $1181385.25   | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Lululemon Athletica Inc.                    | lululemon athletica, inc.                                 | CUSIP: 550021109<br>LEI: 549300D9GZ4BMLDW5T40 | Long             | EC               | CORP              | US        |      1197 | NS      | $455231.07    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Halliburton Company                         | Halliburton Company                                       | CUSIP: 406216101<br>LEI: ENYF8GB5SMQZ25S06U51 | Long             | EC               | CORP              | US        |     33100 | NS      | $1254159.00   | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Microchip Technology Incorporated           | MICROCHIP TECHNOLOGY, INC. SHORT                          | CUSIP: 595017104<br>LEI: 5493007PTFULNYZJ1R12 | Short            | EC               | CORP              | US        |    -17000 | NS      | $-1346230.00  | -1.53%            |  |  |  | No            |                  1 | On Loan: No      |
| Wynn Resorts Limited                        | Wynn Resorts Ltd. Short                                   | CUSIP: 983134107<br>LEI: 254900CEKKWIHTEAB172 | Short            | EC               | CORP              | US        |     -3562 | NS      | $-297996.92   | -0.34%            |  |  |  | No            |                  1 | On Loan: No      |
| Cummins Inc.                                | Cummins, Inc.                                             | CUSIP: 231021106<br>LEI: ZUNI8PYC725B6H8JU438 | Long             | EC               | CORP              | US        |      5350 | NS      | $1343706.00   | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Valero Energy Corporation                   | VALERO ENERGY - SHORT POSITION                            | CUSIP: 91913Y100<br>LEI: 549300XTO5VR8SKV1V74 | Short            | EC               | CORP              | US        |     -9300 | NS      | $-1242666.00  | -1.41%            |  |  |  | No            |                  1 | On Loan: No      |
| Medtronic PLC                               | MEDTRONIC PLC SHORT                                       | CUSIP: G5960L103<br>LEI: 549300GX3ZBSQWUXY261 | Short            | EC               | CORP              | US        |     -9700 | NS      | $-766688.00   | -0.87%            |  |  |  | No            |                  1 | On Loan: No      |
| Uber Technologies Inc                       | Uber Technologies, Inc.                                   | CUSIP: 90353T100<br>LEI: 549300B2FTG34FILDR98 | Short            | EC               | CORP              | US        |    -15417 | NS      | $-449251.38   | -0.51%            |  |  |  | No            |                  1 | On Loan: No      |
| Cisco Systems, Inc.                         | Cisco Systems, Inc.                                       | CUSIP: 17275R102<br>LEI: 549300LKFJ962MZ46593 | Long             | EC               | CORP              | US        |     58837 | NS      | $2925375.64   | 3.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Citigroup Inc.                              | Citigroup, Inc.                                           | CUSIP: 172967424<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | EC               | CORP              | US        |     16650 | NS      | $806026.50    | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| UMB Financial Corp.                         | UMB FINANCIAL CORPORATION SHORT                           | CUSIP: 902788108<br>LEI: 549300MGEH3N3CUCV828 | Short            | EC               | CORP              | US        |    -12000 | NS      | $-1026240.00  | -1.16%            |  |  |  | No            |                  1 | On Loan: No      |
| Visa Inc                                    | Visa, Inc. Class A                                        | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |      4349 | NS      | $943733.00    | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Intuitive Surgical Inc.                     | Intuitive Surgical, Inc.                                  | CUSIP: 46120E602<br>LEI: 54930052SRG011710797 | Long             | EC               | CORP              | US        |     10715 | NS      | $2897228.85   | 3.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Texas Instruments Incorporated              | TEXAS INSTRUMENTS, INC. SHORT                             | CUSIP: 882508104<br>LEI: WDJNR2L6D8RWOEB8T652 | Short            | EC               | CORP              | US        |     -5100 | NS      | $-920346.00   | -1.04%            |  |  |  | No            |                  1 | On Loan: No      |
| Zimmer Biomet Holdings Inc                  | ZIMMER BIOMET HOLDINGS, INC. SHORT                        | CUSIP: 98956P102<br>LEI: 2P2YLDVPES3BXQ1FRB91 | Short            | EC               | CORP              | US        |     -7400 | NS      | $-888740.00   | -1.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Atlassian Corporation                       | Atlassian Corp plc                                        | CUSIP: 049468101<br>LEI: N/A                  | Long             | EC               | CORP              | AU        |      3450 | NS      | $453847.50    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Honeywell International Inc.                | Honeywell International, Inc.                             | CUSIP: 438516106<br>LEI: ISRPG12PN4EIEOEMW547 | Long             | EC               | CORP              | US        |      6000 | NS      | $1317300.00   | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Ulta Beauty Inc                             | Ulta Beauty, Inc.                                         | CUSIP: 90384S303<br>LEI: 529900CIV6HN8M28YM82 | Long             | EC               | CORP              | US        |      5340 | NS      | $2482245.60   | 2.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Amgen Inc.                                  | AMGEN, INC. SHORT                                         | CUSIP: 031162100<br>LEI: 62QBXGPJ34PQ72Z12S66 | Short            | EC               | CORP              | US        |     -3000 | NS      | $-859200.00   | -0.97%            |  |  |  | No            |                  1 | On Loan: No      |
| Darden Restaurants, Inc.                    | Darden Restaurants, Inc.                                  | CUSIP: 237194105<br>LEI: CY1NFSCCB5GUXC7WZC70 | Short            | EC               | CORP              | US        |     -3841 | NS      | $-564588.59   | -0.64%            |  |  |  | No            |                  1 | On Loan: No      |
| Wells Fargo & Company                       | Wells Fargo & Company                                     | CUSIP: 949746101<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EC               | CORP              | US        |     45178 | NS      | $2166285.10   | 2.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Roper Technologies Inc                      | Roper Industries, Inc.                                    | CUSIP: 776696106<br>LEI: 54930003T4SXCIWVXY35 | Short            | EC               | CORP              | US        |     -3000 | NS      | $-1316670.00  | -1.49%            |  |  |  | No            |                  1 | On Loan: No      |
| Celanese Corporation                        | Celanese Corporation Series A                             | CUSIP: 150870103<br>LEI: 549300FHJQTDPPN41627 | Short            | EC               | CORP              | US        |    -11100 | NS      | $-1191030.00  | -1.35%            |  |  |  | No            |                  1 | On Loan: No      |
| International Business Machines Corporation | INTERNATIONAL BUSINESS MACHINES CORPORATION SHORT         | CUSIP: 459200101<br>LEI: VGRQXHF3J8VDLUA7XE92 | Short            | EC               | CORP              | US        |     -7700 | NS      | $-1146530.00  | -1.30%            |  |  |  | No            |                  1 | On Loan: No      |
| Schlumberger Limited                        | Schlumberger Ltd.                                         | CUSIP: 806857108<br>LEI: 213800ZUA17OK3QLGM62 | Long             | EC               | CORP              | US        |     24100 | NS      | $1242355.00   | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| MasterCard Incorporated                     | Mastercard, Inc. Class A                                  | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |      8300 | NS      | $2958120.00   | 3.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley                              | MORGAN STANLEY SHORT                                      | CUSIP: 617446448<br>LEI: IGJSJL3JD5P30I6NJZ34 | Short            | EC               | CORP              | US        |    -13000 | NS      | $-1209910.00  | -1.37%            |  |  |  | No            |                  1 | On Loan: No      |
| Workday Inc                                 | Workday, Inc. Class A                                     | CUSIP: 98138H101<br>LEI: 549300J0DYC0N31V7G13 | Short            | EC               | CORP              | US        |     -7200 | NS      | $-1208880.00  | -1.37%            |  |  |  | No            |                  1 | On Loan: No      |
| FedEx Corporation                           | FedEx Corporation                                         | CUSIP: 31428X106<br>LEI: 549300E707U7WNPZN687 | Long             | EC               | CORP              | US        |      5000 | NS      | $911100.00    | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Analog Devices Inc.                         | Analog Devices, Inc.                                      | CUSIP: 032654105<br>LEI: GYVOE5EZ4GDAVTU4CQ61 | Long             | EC               | CORP              | US        |     11325 | NS      | $1946880.75   | 2.21%             |  |  |  | No            |                  1 | On Loan: No      |
| U.S. Bancorp.                               | U.S. Bancorp                                              | CUSIP: 902973304<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | EC               | CORP              | US        |     27900 | NS      | $1266381.00   | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Intuit Inc                                  | Intuit, Inc.                                              | CUSIP: 461202103<br>LEI: VI90HBPH7XSFMB9E4M29 | Long             | EC               | CORP              | US        |      2050 | NS      | $835559.50    | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Patterson Companies Inc.                    | Patterson Companies, Inc. Short                           | CUSIP: 703395103<br>LEI: YM48Q2087CUE26GWEK09 | Short            | EC               | CORP              | US        |    -30000 | NS      | $-853200.00   | -0.97%            |  |  |  | No            |                  1 | On Loan: No      |
| Johnson & Johnson                           | JOHNSON & JOHNSON SHORT                                   | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Short            | EC               | CORP              | US        |     -6300 | NS      | $-1121400.00  | -1.27%            |  |  |  | No            |                  1 | On Loan: No      |
| Paypal Holdings Incorporation               | PayPal Holdings, Inc.                                     | CUSIP: 70450Y103<br>LEI: 5493005X2GO78EFZ3E94 | Long             | EC               | CORP              | US        |     16750 | NS      | $1313367.50   | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Mercadolibre Inc                            | MercadoLibre, Inc.                                        | CUSIP: 58733R102<br>LEI: 549300DKPDN9M5S8GB14 | Long             | EC               | CORP              | US        |       667 | NS      | $620967.00    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Target Corporation                          | Target Corporation                                        | CUSIP: 87612E106<br>LEI: 8WDDFXB5T1Z6J0XC1L66 | Long             | EC               | CORP              | US        |      3510 | NS      | $586415.70    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Comcast Corporation                         | COMCAST CORPORATION CLASS A                               | CUSIP: 20030N101<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Short            | EC               | CORP              | US        |    -26801 | NS      | $-981988.64   | -1.11%            |  |  |  | No            |                  1 | On Loan: No      |
| Lowes Companies, Inc.                       | LOWE'S COMPANIES, INC. SHORT                              | CUSIP: 548661107<br>LEI: WAFCR4OKGSC504WU3E95 | Short            | EC               | CORP              | US        |     -2491 | NS      | $-529462.05   | -0.60%            |  |  |  | No            |                  1 | On Loan: No      |
| Autodesk Inc                                | Autodesk, Inc. Short                                      | CUSIP: 052769106<br>LEI: FRKKVKAIQEF3FCSTPG55 | Short            | EC               | CORP              | US        |     -4100 | NS      | $-827995.00   | -0.94%            |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc.                               | Alphabet, Inc. Class A                                    | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |     17800 | NS      | $1797622.00   | 2.04%             |  |  |  | No            |                  1 | On Loan: No      |
| MGM Resorts International                   | MGM Resorts International                                 | CUSIP: 552953101<br>LEI: 54930066VBP7DZEGGJ87 | Long             | EC               | CORP              | US        |     15949 | NS      | $587880.14    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Snowflake Inc                               | Snowflake, Inc. Class A                                   | CUSIP: 833445109<br>LEI: 254900CJNSY1K7T53Z16 | Long             | EC               | CORP              | US        |      3500 | NS      | $500150.00    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Expedia Group Inc                           | Expedia Group, Inc.                                       | CUSIP: 30212P303<br>LEI: CI7MUJI4USF3V0NJ1H64 | Long             | EC               | CORP              | US        |      4591 | NS      | $490502.44    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Autozone, Inc.                              | AutoZone, Inc.                                            | CUSIP: 053332102<br>LEI: GA3JGKJ41LJKXDN23E90 | Short            | EC               | CORP              | US        |      -225 | NS      | $-580275.00   | -0.66%            |  |  |  | No            |                  1 | On Loan: No      |
| Apple Inc.                                  | Apple, Inc.                                               | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |     18150 | NS      | $2686744.50   | 3.04%             |  |  |  | No            |                  1 | On Loan: No      |
| IDEXX Laboratories Inc.                     | Idexx Laboratories, Inc. Short                            | CUSIP: 45168D104<br>LEI: OGMTXK0LUU1HKV2P0J84 | Short            | EC               | CORP              | US        |     -1300 | NS      | $-553631.00   | -0.63%            |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity Institutional Cash Portfolios      | Fidelity Institutional Money Market Government Por Tfolio | CUSIP: 316175108<br>LEI: 549300SHPEJB1OPRCV46 | Long             | STIV             | RF                | US        |   6625150 | PA      | $6625150.38   | 7.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Best Buy Inc                                | Best Buy Company, Inc.                                    | CUSIP: 086516101<br>LEI: HL5XPTVRV0O8TUN5LL90 | Short            | EC               | CORP              | US        |    -12496 | NS      | $-1065908.80  | -1.21%            |  |  |  | No            |                  1 | On Loan: No      |
| Edwards Lifesciences Corporation            | Edwards Lifesciences Corporation                          | CUSIP: 28176E108<br>LEI: YA13X31F3V31L8TMPR58 | Long             | EC               | CORP              | US        |     19166 | NS      | $1480573.50   | 1.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Seagate Technology Holdings PLC             | Seagate Technology plc (Ireland)                          | CUSIP: G7997R103<br>LEI: 635400RUXIFEZSRU8X70 | Long             | EC               | CORP              | US        |      9800 | NS      | $519106.00    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Harley-Davidson, Inc.                       | Harley-Davidson, Inc.                                     | CUSIP: 412822108<br>LEI: ZDNAWZWXIKMWI51R2A08 | Short            | EC               | CORP              | US        |    -13683 | NS      | $-644879.79   | -0.73%            |  |  |  | No            |                  1 | On Loan: No      |
| DoorDash Inc                                | DoorDash, Inc.                                            | CUSIP: 25809K105<br>LEI: 549300NUQ43FGGSK5051 | Long             | EC               | CORP              | US        |     10786 | NS      | $628284.50    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Sysco Corporation                           | Sysco Corporation                                         | CUSIP: 871829107<br>LEI: 5RGWIFLMGH3YS7KWI652 | Long             | EC               | CORP              | US        |     14470 | NS      | $1251799.70   | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| The TJX Companies Inc.                      | TJX Companies, Inc. (The)                                 | CUSIP: 872540109<br>LEI: V167QI9I69W364E2DY52 | Long             | EC               | CORP              | US        |     30197 | NS      | $2417269.85   | 2.74%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA Corp.                                | NVIDIA Corporation                                        | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |      9625 | NS      | $1628838.75   | 1.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Chipotle Mexican Grill Inc                  | Chipotle Mexican Grill, Inc.                              | CUSIP: 169656105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       301 | NS      | $489714.96    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Biomarin Pharmaceutical Inc.                | BioMarin Pharmaceutical, Inc.                             | CUSIP: 09061G101<br>LEI: NSLL8ITTRR0J5HEMR848 | Long             | EC               | CORP              | US        |      7000 | NS      | $706860.00    | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| CVS Health Corp                             | CVS Health Corporation                                    | CUSIP: 126650100<br>LEI: 549300EJG376EN5NQE29 | Long             | EC               | CORP              | US        |     12400 | NS      | $1263312.00   | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| The Boeing Company                          | Boeing Company (The)                                      | CUSIP: 097023105<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | EC               | CORP              | US        |      7600 | NS      | $1359488.00   | 1.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Carnival Corporation                        | Carnival Corporation Short                                | CUSIP: 143658300<br>LEI: F1OF2ZSX47CR0BCWA982 | Short            | EC               | CORP              | US        |    -86361 | NS      | $-857564.73   | -0.97%            |  |  |  | No            |                  1 | On Loan: No      |
| Chevron Corporation                         | CHEVRON CORPORATION SHORT                                 | CUSIP: 166764100<br>LEI: N/A                  | Short            | EC               | CORP              | US        |     -6850 | NS      | $-1255673.50  | -1.42%            |  |  |  | No            |                  1 | On Loan: No      |
| Oracle Corporation                          | Oracle Corp.                                              | CUSIP: 68389X105<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Short            | EC               | CORP              | US        |    -13400 | NS      | $-1112602.00  | -1.26%            |  |  |  | No            |                  1 | On Loan: No      |
| AmerisourceBergen Corporation               | AmerisourceBergen Corporation                             | CUSIP: 03073E105<br>LEI: AI8GXW8LG5WK7E9UD086 | Long             | EC               | CORP              | US        |      8000 | NS      | $1365520.00   | 1.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Nike, Inc.                                  | NIKE, INC. CLASS B                                        | CUSIP: 654106103<br>LEI: 787RXPR0UX0O0XUXPZ81 | Short            | EC               | CORP              | US        |     -5307 | NS      | $-582124.83   | -0.66%            |  |  |  | No            |                  1 | On Loan: No      |
| Align Technology Inc.                       | Align Technology, Inc.                                    | CUSIP: 016255101<br>LEI: 549300N5YSE0U3LCP840 | Long             | EC               | CORP              | US        |       500 | NS      | $98330.00     | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase & Co.                        | JPMorgan Chase & Company                                  | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |     10769 | NS      | $1488060.42   | 1.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Starbucks Corporation                       | Starbucks Corporation                                     | CUSIP: 855244109<br>LEI: OQSJ1DU9TAOC51A47K68 | Long             | EC               | CORP              | US        |     25275 | NS      | $2583105.00   | 2.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Fluor Corporation                           | Fluor Corporation                                         | CUSIP: 343412102<br>LEI: CQ7WZ4NOFWT7FAE6Q943 | Long             | EC               | CORP              | US        |     40300 | NS      | $1354483.00   | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Williams-Sonoma Incorporation               | Williams-Sonoma, Inc. SHORT                               | CUSIP: 969904101<br>LEI: 549300IARG6YWVTZ1I92 | Short            | EC               | CORP              | US        |     -4143 | NS      | $-484316.70   | -0.55%            |  |  |  | No            |                  1 | On Loan: No      |
| Applied Materials Inc.                      | APPLIED MATERIALS, INC. SHORT                             | CUSIP: 038222105<br>LEI: 41BNNE1AFPNAZELZ6K07 | Short            | EC               | CORP              | US        |     -4500 | NS      | $-493200.00   | -0.56%            |  |  |  | No            |                  1 | On Loan: No      |
| DexCom Inc                                  | DexCom, Inc.                                              | CUSIP: 252131107<br>LEI: 549300YSK3QDSFR5EU59 | Long             | EC               | CORP              | US        |      5400 | NS      | $627912.00    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Home Depot Inc                              | Home Depot, Inc. (The)                                    | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |      1609 | NS      | $521299.91    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Marvell Technology Inc                      | Marvell Technology, Inc.                                  | CUSIP: 573874104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     12250 | NS      | $569870.00    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Humana Inc.                                 | Humana, Inc.                                              | CUSIP: 444859102<br>LEI: 529900YLDW34GJAO4J06 | Long             | EC               | CORP              | US        |       900 | NS      | $494910.00    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Elevance Health Inc.                        | ANTHEM, INC. SHORT                                        | CUSIP: 036752103<br>LEI: 8MYN82XMYQH89CTMTH67 | Short            | EC               | CORP              | US        |      -975 | NS      | $-519597.00   | -0.59%            |  |  |  | No            |                  1 | On Loan: No      |
| Eli Lilly & Co.                             | Eli Lilly & Company                                       | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |      9090 | NS      | $3373117.20   | 3.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corporation                       | Microsoft Corporation                                     | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |     12995 | NS      | $3315544.30   | 3.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Intel Corporation                           | INTEL CORPORATION SHORT                                   | CUSIP: 458140100<br>LEI: KNX4USFCNGPY45LOCE31 | Short            | EC               | CORP              | US        |    -20900 | NS      | $-628463.00   | -0.71%            |  |  |  | No            |                  1 | On Loan: No      |
| Fiserv Inc.                                 | Fiserv, Inc.                                              | CUSIP: 337738108<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | EC               | CORP              | US        |     12100 | NS      | $1262756.00   | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Elanco Animal Health Inc                    | Elanco Animal Health Incorporated                         | CUSIP: 28414H103<br>LEI: 549300SHPNDCE059M934 | Long             | EC               | CORP              | US        |     42400 | NS      | $545688.00    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Danaher Corporation                         | Danaher Corporation                                       | CUSIP: 235851102<br>LEI: S4BKK9OTCEWQ3YHPFM11 | Long             | EC               | CORP              | US        |      3600 | NS      | $984276.00    | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs Group, Inc.                   | Goldman Sachs Group, Inc. (The)                           | CUSIP: 38141G104<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | EC               | CORP              | US        |      7950 | NS      | $3069892.50   | 3.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Las Vegas Sands Corp                        | Las Vegas Sands Corporation                               | CUSIP: 517834107<br>LEI: 549300DUOO1KXOHPM605 | Long             | EC               | CORP              | US        |     13074 | NS      | $612386.16    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| YUM Brands Inc                              | Yum! Brands, Inc.                                         | CUSIP: 988498101<br>LEI: 549300JE8XHZZ7OHN517 | Short            | EC               | CORP              | US        |     -4202 | NS      | $-540629.32   | -0.61%            |  |  |  | No            |                  1 | On Loan: No      |
| Becton, Dickinson and Company               | Becton, Dickinson and Company Short                       | CUSIP: 075887109<br>LEI: ICE2EP6D98PQUILVRZ91 | Short            | EC               | CORP              | US        |     -3950 | NS      | $-984893.00   | -1.12%            |  |  |  | No            |                  1 | On Loan: No      |
| Amazon.com, Inc.                            | Amazon.com, Inc.                                          | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |     24336 | NS      | $2349397.44   | 2.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Boston Scientific Corporation               | Boston Scientific Corporation                             | CUSIP: 101137107<br>LEI: Y6ZDD9FP4P8JSSJMW954 | Long             | EC               | CORP              | US        |     22000 | NS      | $995940.00    | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Booking Holdings Inc                        | Booking Holdings, Inc. Short                              | CUSIP: 09857L108<br>LEI: FXM8FAOHMYDIPD38UZ17 | Short            | EC               | CORP              | US        |      -248 | NS      | $-515703.60   | -0.58%            |  |  |  | No            |                  1 | On Loan: No      |
| Ingersoll Rand Inc                          | INGERSOLL-RAND INC Short                                  | CUSIP: 45687V106<br>LEI: 5299004C02FMZCUOIR50 | Short            | EC               | CORP              | US        |    -22400 | NS      | $-1208928.00  | -1.37%            |  |  |  | No            |                  1 | On Loan: No      |
| Norfolk Southern Corporation                | Norfolk Southern Corporation                              | CUSIP: 655844108<br>LEI: 54930036C8MWP850MI84 | Long             | EC               | CORP              | US        |      6325 | NS      | $1622362.50   | 1.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Salesforce Inc                              | salesforce.com, Inc.                                      | CUSIP: 79466L302<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | EC               | CORP              | US        |      3246 | NS      | $520171.50    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| O'Reilly Automotive Inc.                    | O'Reilly Automotive, Inc.                                 | CUSIP: 67103H107<br>LEI: 549300K2RLMQL149Q332 | Long             | EC               | CORP              | US        |       855 | NS      | $739181.70    | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| PENN Entertainment Inc                      | Penn National Gaming, Inc. SHORT                          | CUSIP: 707569109<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -21826 | NS      | $-768056.94   | -0.87%            |  |  |  | No            |                  1 | On Loan: No      |
| Knight-Swift Transportation Holdings Inc.   | Knight-Swift Transportation Holdings, Inc. Short          | CUSIP: 499049104<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -21100 | NS      | $-1169573.00  | -1.33%            |  |  |  | No            |                  1 | On Loan: No      |
| Accenture PLC                               | ACCENTURE PLC CLASS A                                     | CUSIP: G1151C101<br>LEI: N/A                  | Short            | EC               | CORP              | US        |     -3363 | NS      | $-1012027.59  | -1.15%            |  |  |  | No            |                  1 | On Loan: No      |
| Texas Roadhouse Inc                         | Texas Roadhouse, Inc.                                     | CUSIP: 882681109<br>LEI: 5299002Y1CNRPDGXTQ75 | Long             | EC               | CORP              | US        |      5398 | NS      | $536129.36    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Pfizer Inc.                                 | PFIZER, INC. - SHORT                                      | CUSIP: 717081103<br>LEI: 765LHXWGK1KXCLTFYQ30 | Short            | EC               | CORP              | US        |     -9000 | NS      | $-451170.00   | -0.51%            |  |  |  | No            |                  1 | On Loan: No      |
| McDonald's Corporation                      | McDonald's Corporation Short                              | CUSIP: 580135101<br>LEI: UE2136O97NLB5BYP9H04 | Short            | EC               | CORP              | US        |     -1913 | NS      | $-521847.27   | -0.59%            |  |  |  | No            |                  1 | On Loan: No      |
| Walmart Inc                                 | Walmart, Inc.                                             | CUSIP: 931142103<br>LEI: Y87794H0US1R65VBXU25 | Short            | EC               | CORP              | US        |     -3890 | NS      | $-592913.80   | -0.67%            |  |  |  | No            |                  1 | On Loan: No      |
| Carmax Inc                                  | CarMax, Inc.                                              | CUSIP: 143130102<br>LEI: 529900F60CID3NCZM330 | Short            | EC               | CORP              | US        |     -5269 | NS      | $-365457.84   | -0.41%            |  |  |  | No            |                  1 | On Loan: No      |
| eBay Inc.                                   | EBAY, INC - SHORT POSITION                                | CUSIP: 278642103<br>LEI: OML71K8X303XQONU6T67 | Short            | EC               | CORP              | US        |    -13244 | NS      | $-601807.36   | -0.68%            |  |  |  | No            |                  1 | On Loan: No      |
| AbbVie Inc.                                 | AbbVie, Inc.                                              | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               | CORP              | US        |     20100 | NS      | $3239718.00   | 3.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Raytheon Technologies Corporation           | Raytheon Technologies Corporation                         | CUSIP: 75513E101<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | EC               | CORP              | US        |     11700 | NS      | $1155024.00   | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| HP Inc                                      | HP, INC. - SHORT                                          | CUSIP: 40434L105<br>LEI: WHKXQACZ14C5XRO8LW03 | Short            | EC               | CORP              | US        |    -25150 | NS      | $-755506.00   | -0.86%            |  |  |  | No            |                  1 | On Loan: No      |
| Walgreens Boots Alliance, Inc.              | WALGREENS BOOTS ALLINACE, INC. SHORT                      | CUSIP: 931427108<br>LEI: 549300RPTUOIXG4LIH86 | Short            | EC               | CORP              | US        |    -22000 | NS      | $-913000.00   | -1.03%            |  |  |  | No            |                  1 | On Loan: No      |
| Roku Inc                                    | Roku Inc.                                                 | CUSIP: 77543R102<br>LEI: 549300KR6ITU0YIR1T71 | Long             | EC               | CORP              | US        |      7596 | NS      | $450974.52    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Baker Hughes Company                        | Baker Hughes, a GE Company                                | CUSIP: 05722G100<br>LEI: N/A                  | Short            | EC               | CORP              | US        |    -44000 | NS      | $-1276880.00  | -1.45%            |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2022-12-21

**Name of Applicant:** Waycross Long/Short Equity Fund

**Signature:** Daniel Bauer

**Name of Signer:** Daniel Bauer

**Title:** VP, Fund Accounting