Chase Growth Fund
  
Schedule of Investments
  
at December 31, 2021 (Unaudited)
  
         
Shares
  
COMMON STOCKS - 97.1%
 
Value
   
Asset Management - 3.0%
    
1,205
  
BlackRock, Inc.
  
$
  1,103,250
7,211
  
T. Rowe Price Group, Inc.
  
1,417,971
       
2,521,221
   
Biotechnology - 1.6%
    
12,093
  
Horizon Therapeutics plc - ADR *
  
1,303,142
         
   
Building Products - 2.6%
    
13,246
  
Eagle Materials, Inc.
  
2,204,929
         
   
Business Services - 2.0%
    
2,672
  
MSCI, Inc.
  
     1,637,108
         
   
Computer Hardware - 5.0%
    
23,781
  
Apple, Inc.
  
     4,222,792
         
   
Computer - Semiconductors - 3.2%
    
17,305
  
Applied Materials, Inc.
  
     2,723,115
         
   
Computer Software - 16.5%
    
2,126
  
Adobe Systems, Inc. *
  
1,205,570
10,149
  
Concentrix Corp.
  
1,812,814
5,275
  
EPAM Systems, Inc. *
  
3,526,074
16,210
  
Microsoft Corp.
  
5,451,747
21,050
  
Oracle Corp.
  
1,835,770
       
13,831,975
   
Conglomerates - 4.4%
    
9,258
  
Carlisle Companies, Inc.
  
     2,297,095
13,711
  
Crane Co.
  
     1,394,820
       
3,691,915
   
Drugs - Proprietary - 4.3%
    
13,350
  
AbbVie, Inc.
  
1,807,590
7,265
  
Zoetis, Inc. - Class A
  
1,772,878
       
3,580,468
   
Electrical Components - 3.1%
    
19,953
  
WESCO International, Inc. *
  
     2,625,615
         
   
Electrical Equipment - 3.3%
    
15,948
  
Eaton Corp. plc - ADR
  
2,756,133
         
   
Energy/Oil & Gas Exploration & Production - 2.0%
    
9,150
  
Pioneer Natural Resources Co.
  
     1,664,202
         
   
Engineering/Construction - 4.5%
    
9,640
  
Jacobs Engineering Group, Inc.
  
1,342,177
21,025
  
Quanta Services, Inc.
  
2,410,727
       
3,752,904
   
Finance/Banks - 1.9%
    
15,914
  
Morgan Stanley
  
     1,562,118
         
   
Finance/Information Services - 1.4%
    
5,298
  
Visa, Inc. - Class A
  
     1,148,130
         
   
Financial Services - Diversified - 2.0%
    
10,440
  
American Express Co.
  
     1,707,984
         
   
Health Care Benefits - 5.5%
    
8,846
  
Molina Healthcare, Inc. *
  
2,813,736
3,604
  
UnitedHealth Group, Inc.
  
1,809,712
       
4,623,448
   
Health Care Products - 3.9%
    
77,874
  
Avantor, Inc. *
  
     3,281,610
         
   
Health Care Services - 3.3%
    
9,825
  
IQVIA Holdings, Inc. *
  
     2,772,026
         
   
Home Furnishings/Furniture - 3.1%
    
55,901
  
Tempur Sealy International, Inc.
  
     2,629,024
         
   
Insurance - Disability/Life - 1.8%
    
13,910
  
Prudential Financial, Inc.
  
     1,505,618
         
   
Internet Retail - 4.8%
    
498
  
Amazon.com, Inc. *
  
1,660,501
35,042
  
eBay, Inc.
  
2,330,293
       
3,990,794
   
Internet Software & Services - 4.6%
    
1,333
  
Alphabet, Inc. - Class A *
  
     3,861,754
         
   
Medical Products - 1.6%
    
5,138
  
Stryker Corp.
  
     1,374,004
         
   
Railroad - 0.9%
    
10,558
  
Canadian Pacific Railway, Ltd. - ADR
  
759,566
         
   
Retail - Specialty - 1.8%
    
3,646
  
Ulta Beauty, Inc. *
  
     1,503,392
         
   
Semiconductors - 2.5%
    
7,128
  
NVIDIA Corp.
  
     2,096,416
         
   
Utilities Electric/Gas - 2.5%
    
33,337
  
National Fuel Gas Co.
  
     2,131,568
       
   
TOTAL COMMON STOCKS (Cost $51,321,077)
  
81,462,971
         
 
  
MONEY MARKET FUND - 3.0%
 
 
2,483,708
  
Invesco STIT Treasury Portfolio - Institutional Class, 0.01% #
  
2,483,708
   
TOTAL MONEY MARKET FUND (Cost $2,483,708)
  
2,483,708
   
Total Investments in Securities (Cost $53,804,785) - 100.1%
  
83,946,679
   
Liabilities in Excess of Other Assets - (0.1)%
  
(62,875)
   
NET ASSETS - 100.0%
  
$
 83,883,804
         
ADR
  
American Depository Receipt
    
*
  
Non-income producing security.
    
#
  
Rate shown is the 7-day annualized yield as of December 31, 2021.
    
         
   
The Global Industry Classification Standard (GICS®) was developed by and/or is the exclusive property of MSCI, Inc. and Standard & Poor’s Financial Services LLC (“S&P”).  GICS is a service mark of MSCI and S&P and has been licensed for use by U.S. Bancorp Fund Services, LLC.

 
Chase Growth Fund
                
Summary of Fair Value Disclosure at December 31, 2021 (Unaudited)
          

The Fund utilizes various methods to measure the fair value of its investments on a recurring basis. Accounting principles generally accepted in the United States of America (“U.S. GAAP”) establish a hierarchy that prioritizes inputs to valuation methods.  The three levels of inputs are:

Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access.
Level 2 - Observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates and similar data.
Level 3 - Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available, representing the Fund’s own assumptions about the assumptions a market participant would use in valuing the asset or liability, and would be based on the best information available.

The following is a summary of the inputs used to value the Fund’s investments as of December 31, 2021:

   
Level 1
    
Level 2
    
Level 3
    
Total
  
                         
Common Stocks
                        
Communication Services
  
$
3,861,754
    
$
-
    
$
-
    
$
3,861,754
  
Consumer Discretionary
    
8,123,210
      
-
      
-
      
8,123,210
  
Energy
    
1,664,202
      
-
      
-
      
1,664,202
  
Financials
    
8,934,049
      
-
      
-
      
8,934,049
  
Health Care
    
16,934,698
      
-
      
-
      
16,934,698
  
Industrials
    
13,586,133
      
-
      
-
      
13,586,133
  
Materials
    
2,204,929
      
-
      
-
      
2,204,929
  
Technology
    
24,022,428
      
-
      
-
      
24,022,428
  
Utilities
    
2,131,568
       -
      -
     
2,131,568
  
Total Common Stocks
    
81,462,971
   
-
   
-
   
81,462,971
  
Money Market Fund
    
2,483,708
      
-
      
-
      
2,483,708
  
Total Investments in Securities
  
$
83,946,679
    
$
-
    
$
-
    
$
83,946,679
  
                                 
Refer to the Fund’s schedule of investments for a detailed break-out of common stocks by industry classification.