Scharf Global Opportunity Fund
Schedule of Investments
June 30, 2020 (Unaudited)

Shares		COMMON STOCKS - 88.10%	Value
		Auto Components - 0.19%
	10,108	Nexen Corp. (b)	$	32,647
		Banks - 2.03%
	13,809	Wells Fargo & Co.		353,510
		Beverages - 2.07%
	3,910	Heineken N.V. (b)		360,478
		Biotechnology - 2.05%
	3,177	Alexion Pharmaceuticals, Inc. (a)		356,587
		Diversified Financial Services - 4.10%
	4,002	Berkshire Hathaway, Inc. - Class B (a)		714,397
		Food Products - 4.05%
	10,213	Danone (b)		706,355
		Health Care Providers & Services - 12.12%
	15,567	CVS Health Corp.		1,011,388
	4,884	McKesson Corp.		749,303
	3,088	Quest Diagnostics, Inc.		351,909
				2,112,600
		Hotels, Restaurants & Leisure - 3.63%
	164,675	Domino's Pizza Group plc (b)		632,957
		Household Durables - 3.76%
	9,485	Sony Corp. - ADR		655,698
		Insurance - 4.66%
	86,990	AIA Group Ltd. (b)		811,480
		Interactive Media & Services - 5.93%
	5,838	Baidu, Inc. - ADR (a)		699,918
	5,212	Tencent Holdings Ltd. - ADR		333,568
				1,033,486
		Internet & Direct Marketing Retail - 1.17%
	128	Booking Holdings, Inc. (a)		203,820
		IT Services - 1.98%
	6,081	Cognizant Technology Solutions Corp. - Class A		345,522
		Machinery - 0.93%
	2,866	Otis Worldwide Corp.		162,961
		Media - 7.59%
	18,917	Comcast Corp. - Class A		737,385
	111,900	Grupo Televisa S.A.B. - ADR (a)		586,356
				1,323,741
		Metals & Mining - 3.08%
	19,920	Barrick Gold Corp. (b)		536,645
		Personal Products - 4.11%
	13,450	Unilever NV - ADR		716,482
		Pharmaceuticals - 11.85%
	4,737	Johnson & Johnson		666,164
	8,132	Novartis AG - ADR		710,249
	15,880	Roche Holding AG - ADR		688,874
				2,065,287
		Road & Rail - 2.06%
	2,408	Kansas City Southern		359,490
		Software - 8.57%
	3,823	Microsoft Corp.		778,019
	12,959	Oracle Corp.		716,244
				1,494,263
		Specialty Retail - 2.17%
	2,658	Advance Auto Parts, Inc.		378,632
		TOTAL COMMON STOCKS (Cost $13,768,625)		15,357,038

		PREFERRED STOCKS - 7.78%
		Auto Components - 0.42%
	14,157	Nexen Corp., 4.79% (b)		37,015
	19,025	Nexen Tire Corp., 2.70% (b)		36,299
				73,314
		Capital Markets - 0.27%
	1,800	Korea Investment Holdings Co., Ltd., 9.25% (b)		47,812
		Containers & Packaging - 0.06%
	5,450	NPC, 4.38% (b)		10,874
		Personal Products - 0.45%
	1,870	AMOREPACIFIC Group, 1.18% (b)		40,110
	65	LG Household & Health Care Ltd., 1.53% (b)		39,178
				79,288
		Technology Hardware, Storage & Peripherals - 6.58%
	29,645	Samsung Electronics Co., Ltd., 2.28% (b)		1,146,022
		TOTAL PREFERRED STOCKS (Cost $873,897)		1,357,310

		EXCHANGE-TRADED FUND - 1.98%
	2,060	SPDR Gold Shares (a)		344,782
		TOTAL EXCHANGE-TRADED FUND (Cost $321,448)		344,782

		MONEY MARKET FUND - 2.69%
	468,557	First American Treasury Obligations Fund, Class Z, 0.06% (c)		468,557
		TOTAL MONEY MARKET FUND (Cost $468,557)		468,557

		Total Investments in Securities (Cost $15,432,527) - 100.55%		17,527,687
		Liabilities in Excess of Other Assets - (0.55)%		(95,859	)
		TOTAL NET ASSETS - 100.00%	$	17,431,828

ADR		American Depository Receipt
(a)		Non-income producing security.
(b)		Foreign issuer.
(c)		Rate shown is the 7-day annualized yield as of June 30, 2020.


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.


	Country Allocation
		% of Net
	Country	Assets
	United States	49.2%
	Republic of Korea	8.0%
	Switzerland	8.0%
	Netherlands	6.2%
	China	5.9%
	Hong Kong	4.7%
	France	4.1%
	Japan	3.8%
	United Kingdom	3.6%
	Mexico	3.4%
	Canada	3.1%

Scharf Global Opportunity Fund
Summary of Fair Value Disclosure at June 30, 2020 (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 June 30, 2020:

Scharf Global Opportunity Fund	Level 1		Level 2		Level 3		Total

Common Stocks
Communication Services	$	2,357,226	$	-	$	-	$	2,357,226
Consumer Discretionary		1,903,754		-		-		1,903,754
Consumer Staples		1,783,315		-		-		1,783,315
Financials		1,879,388		-		-		1,879,388
Healthcare		4,534,474		-		-		4,534,474
Industrials		522,451		-		-		522,451
Information Technology		1,839,785		-		-		1,839,785
Materials		536,645		-		-		536,645
Total Common Stocks		15,357,038		-		-		15,357,038
Preferred Stocks
Consumer Discretionary		73,315		-		-		73,315
Consumer Staples		79,288		-		-		79,288
Financials		47,811		-		-		47,811
Information Technology		1,146,022		-		-		1,146,022
Materials		10,874		-		-		10,874
Total Preferred Stocks		1,357,310		-		-		1,357,310
Exchange-Traded Funds		344,782		-		-		344,782
Money Market Fund		468,557		-		-		468,557
Total Investments in Securities	$	17,527,687	$	-	$	-	$	17,527,687

Refer to the Fund’s schedule of investments for a detailed break-out of common stocks by industry classification. For the period ended June 30, 2020,
the Fund did not recognize any transfers to or from Level 3.