Zell Capital

Schedule of Investments

December 31, 2021 (Unaudited)

Security Description

Quantity

Fair Value

SAFE Notes - 44.3%

DOLR SAFE Note⁽¹⁾⁽²⁾

$

             70,000

Studium SAFE Note⁽²⁾

             85,000

GRID SAFE Note⁽²⁾

             10,000

Total SAFE Notes (Cost $165,000)

165,000

Private Equity - 7.0%

Terra Kaffe⁽²⁾

             26,120

Total Private Equity (Cost $26,120)

26,120

Money Market Funds - 10.4%

First American Government Obligations Fund, Class X - 0.03%⁽³⁾

             38,800

             38,800

Total Money Market Funds (Cost $38,800)

38,800

Total Investments (Cost $229,920) - 61.7%

$

229,920

Liabilities in Excess of Other Assets - 38.3%

(205,084)

Net Assets - 100.0%

$

24,836

SAFE - Simple Agreement for Future Equity

⁽¹⁾  There is a potential conflict of interest between DOLR and Zell Capital.  DOLR is a client of

      mpMurcia, LLC, dba Book+Street.  An officer of the Fund is the majority shareholder of

      Book + Street.

⁽²⁾  Non-income producing.

⁽³⁾  Presented rate represents the Money Market Fund’s average 7-day % yield as of December 31, 2021.

Percentages are stated as a percent of net assets.

The following table presents information about the Fund’s assets measured on a recurring basis as of December 31, 2021 and indicates the fair value hierarchy of the inputs utilized by the Fund to determine such fair value: