INVENOMIC FUND
SCHEDULE OF INVESTMENTS (Unaudited)
July 31, 2022
 
Shares             Fair Value
    COMMON STOCKS — 115.7%      
    ADVERTISING & MARKETING - 0.2%      
622,547   AcuityAds Holdings, Inc.(a)       $ 1,536,289
4,406   Tenerity, Inc.(a),(b)         –
             

1,536,289

    APPAREL & TEXTILE PRODUCTS - 5.1%      
40,101   Capri Holdings Ltd.(a)         1,952,117
34,775   Deckers Outdoor Corporation(a)(c)         10,891,878
1,020,120   Hanesbrands, Inc.(c)         11,404,942
741,886   Levi Strauss & Company(c)(d)         14,036,483
152,144   PVH Corporation         9,420,756
56,032   Tapestry, Inc.         1,884,356
             

49,590,532

    ASSET MANAGEMENT - 0.7%      
10,740   Diamond Hill Investment Group, Inc.         2,053,166
6,810   GoldMoney, Inc.(a)         8,350
249,138   Silvercrest Asset Management Group, Inc.         4,434,656
             

6,496,172

    AUTOMOTIVE - 1.9%      
105,007   Continental A.G.         7,424,499
156,316   Miller Industries, Inc.         3,756,273
130,004   Vitesco Technologies Group A.G.(a)(d)         7,031,371
             

18,212,143

    BANKING - 1.9%      
171,294   First BanCorporation         2,584,826
201,482   Popular, Inc.(d)         15,649,108
             

18,233,934

    BEVERAGES - 0.3%      
248,127   Vita Coco Company, Inc.(a)(c)         2,989,930
             
 
    BIOTECH & PHARMA - 3.0%      
112,756   Anika Therapeutics, Inc.(a)         2,633,980
338,405   Bayer A.G.         19,702,845
302,295   Lexaria Bioscience Corporation(a),(c)(d)         816,197
117,382   Perrigo Company PLC         4,914,784
             

28,067,806

 
 

 

INVENOMIC FUND
SCHEDULE OF INVESTMENTS (Unaudited) (Continued)
July 31, 2022
 
Shares             Fair Value
    COMMON STOCKS — 115.7% (Continued)      
    CABLE & SATELLITE - 3.8%      
49,626   Cogeco, Inc.       $ 2,644,612
704,156   Comcast Corporation, Class A(d)         26,419,933
1,122,127   Liberty Latin America Ltd., Class C(a)(c)(d)         8,236,412
             

37,300,957

    CHEMICALS - 5.4%      
469,849   Axalta Coating Systems Ltd.(a)(d)         11,849,592
227,374   Cabot Corporation(d)         16,884,793
142,184   Imerys S.A.         4,789,814
29,473   Ingevity Corporation(a)         1,977,638
175,450   Koppers Holdings, Inc.(d)         4,130,093
577,296   Orion Engineered Carbons S.A.         9,981,448
216,070   Tronox Holdings PLC, Class A(d)         3,372,853
             

52,986,231

    COMMERCIAL SUPPORT SERVICES - 2.4%      
138,508   ABM Industries, Inc.         6,210,699
359,517   Heidrick & Struggles International, Inc.(d)         11,195,359
88,807   Securitas A.B., B         895,607
271,897   TrueBlue, Inc.(a)(d)         5,883,851
             

24,185,516

    CONSTRUCTION MATERIALS - 1.4%      
90,015   HeidelbergCement A.G.         4,551,320
102,864   Owens Corning(d)         9,539,608
             

14,090,928

    CONSUMER SERVICES - 1.3%      
120,688   Adtalem Global Education, Inc.(a)(d)         4,839,589
21,568   Medifast, Inc.         3,627,522
110,341   Stride, Inc.(a)(c)(d)         4,930,035
             

13,397,146

    CONTAINERS & PACKAGING - 0.5%      
88,775   Gerresheimer A.G.         5,309,271
             
 
    DIVERSIFIED INDUSTRIALS - 0.5%      
31,382   3M Company(c)         4,495,158
             
 
 
 

 

INVENOMIC FUND
SCHEDULE OF INVESTMENTS (Unaudited) (Continued)
July 31, 2022
 
Shares             Fair Value
    COMMON STOCKS — 115.7% (Continued)      
    E-COMMERCE DISCRETIONARY - 5.8%      
383,583   eBay, Inc.(d)       $ 18,653,641
2,175,342   Poshmark, Inc.(a)(c)(d)         23,471,941
3,123,186   Rover Group, Inc.(a)(c)(d)         13,648,323
             

55,773,905

    ELECTRICAL EQUIPMENT - 3.4%      
150,316   Belden, Inc.(d)         9,728,452
496,424   Mirion Technologies, Inc.(a)(c)         3,375,683
350,018   nLight, Inc.(a)         4,291,221
23,868   Preformed Line Products Company(d)         1,427,306
85,328   Sensata Technologies Holding PLC         3,794,536
387,217   Vontier Corporation(c)         9,990,199
             

32,607,397

    ENGINEERING & CONSTRUCTION - 1.1%      
175,652   Frontdoor, Inc.(a)(d)         4,702,204
964,742   Mistras Group, Inc.(a)(d)         5,952,458
             

10,654,662

    ENTERTAINMENT CONTENT - 3.0%      
1,977,434   Warner Bros Discovery, Inc.(a)(c)(d)         29,661,510
             
 
    FOOD - 1.5%      
21,089   Ingredion, Inc.(d)         1,918,677
14,627   Nathan's Famous, Inc.         804,339
487,616   Nomad Foods Ltd.(a)         8,991,638
51,218   Seneca Foods Corporation, Class A(a)(d)         2,915,329
             

14,629,983

    GAS & WATER UTILITIES - 0.3%      
209,427   Suburban Propane Partners, L.P.         3,497,431
             
 
    HEALTH CARE FACILITIES & SERVICES - 5.6%      
318,812   Cardinal Health, Inc.(d)         18,988,443
313,449   Universal Health Services, Inc., Class B(c)(d)         35,253,608
             

54,242,051

    HOME & OFFICE PRODUCTS - 1.9%      
251,008   Hamilton Beach Brands Holding Company, Class A(d)         2,971,935
 
 

 

INVENOMIC FUND
SCHEDULE OF INVESTMENTS (Unaudited) (Continued)
July 31, 2022
 
Shares             Fair Value
    COMMON STOCKS — 115.7% (Continued)      
    HOME & OFFICE PRODUCTS - 1.9% (Continued)      
27,434   Scotts Miracle-Gro Company (The)(c)       $ 2,440,254
233,479   Societe BIC S.A.         13,164,495
             

18,576,684

    HOME CONSTRUCTION - 0.6%      
374,140   Caesarstone Ltd.(d)         3,359,777
41,170   Century Communities, Inc. (c)         2,106,669
             

5,466,446

    INDUSTRIAL INTERMEDIATE PROD - 0.4%      
68,474   Gibraltar Industries, Inc.(a)         3,203,898
30,371   Strattec Security Corporation(a)         902,019
             

4,105,917

    INSTITUTIONAL FINANCIAL SERVICES - 0.5%      
133,311   Lazard Ltd., Class A         5,021,825
             
 
    INSURANCE - 1.2%      
106,569   Reinsurance Group of America, Inc.(d)         12,338,559
             
 
    INTERNET MEDIA & SERVICES - 6.9%      
18,606   Airbnb, Inc., CLASS A(a)(c)         2,064,894
31,104   Alphabet, Inc., Class A(a)         3,618,017
1,064   Booking Holdings, Inc.(a)         2,059,574
733,315   HyreCar, Inc.(a)(c)(d)         456,269
428,924   Lyft, Inc.(a)(c)         5,944,887
182,901   Meta Platforms, Inc., Class A(a)(d)         29,099,549
44,184   Pinterest, Inc., Class A(a)         860,704
402,047   Travelzoo(a)(d)         2,046,419
1,003,046   TrueCar, Inc.(a)         2,577,828
1,112,026   Trustpilot Group PLC(a)         1,035,961
681,832   Uber Technologies, Inc.(a)(d)         15,988,961
34,506   Wix.com Ltd.(a)         2,047,241
             

67,800,304

    LEISURE FACILITIES & SERVICES - 2.2%      
200,554   Bowlero Corporation(a)(c)         2,294,338
67,395   Cedar Fair, L.P.(a)         2,843,395
 
 

 

INVENOMIC FUND
SCHEDULE OF INVESTMENTS (Unaudited) (Continued)
July 31, 2022
 
Shares             Fair Value
    COMMON STOCKS — 115.7% (Continued)      
    LEISURE FACILITIES & SERVICES - 2.2% (Continued)      
210,022   Jack in the Box, Inc.(c)(d)       $ 14,520,921
78,582   Manchester United PLC, Class A(c)         875,403
134,517   Red Robin Gourmet Burgers, Inc.(a)         1,175,679
             

21,709,736

    LEISURE PRODUCTS - 0.3%      
41,630   Johnson Outdoors, Inc., Class A         2,802,115
             
 
    MACHINERY - 1.6%      
108,894   CIRCOR International, Inc.         1,895,845
40,305   Hurco Companies, Inc.         1,020,926
91,510   Oshkosh Corporation         7,879,011
16,606   Regal Rexnord Corporation         2,230,186
32,476   Stanley Black & Decker, Inc.(c)         3,160,889
             

16,186,857

    MEDICAL EQUIPMENT & DEVICES - 3.9%      
467,518   Bausch + Lomb Corporation(a)         6,727,584
700,392   DermTech, Inc.(a)(c)(d)         5,743,214
51,413   Fonar Corporation(a)         745,489
55,676   Illumina, Inc.(a)(d)         12,063,875
341,575   Inogen, Inc.(a)(d)         9,502,616
119,229   Orthofix Medical, Inc.(a)(c)         3,058,224
             

37,841,002

    METALS & MINING - 5.4%      
13,378,947   Argonaut Gold, Inc.(a)(d)         4,962,827
4,237,790   B2Gold Corporation         14,826,242
285,607   Bushveld Minerals Ltd.(a)         19,129
165,388   Compass Minerals International, Inc. (c)         6,157,395
617,553   Ferroglobe PLC(a)(d)         3,797,951
1,150,194   Gold Standard Ventures Corporation(a)(c)         396,357
5,183,499   Kinross Gold Corporation(d)         17,675,732
2,631,026   OceanaGold Corporation(a)         4,787,345
             

52,622,978

    OIL & GAS PRODUCERS - 9.7%      
33,246   Chord Energy Corporation         4,263,467
 
 

 

INVENOMIC FUND
SCHEDULE OF INVESTMENTS (Unaudited) (Continued)
July 31, 2022
 
Shares             Fair Value
    COMMON STOCKS — 115.7% (Continued)      
    OIL & GAS PRODUCERS - 9.7% (Continued)      
420,999   Civitas Resources, Inc. (c)(d)       $ 24,822,100
2,531,247   Crescent Point Energy Corporation(c)(d)         20,047,476
89,678   Laredo Petroleum, Inc.(a)(c)         7,951,748
232,541   Ovintiv, Inc.(d)         11,880,520
286,317   PHX Minerals, Inc.         939,120
260,122   SandRidge Energy, Inc.(a)(c)         4,872,085
757,016   World Fuel Services Corporation(d)         20,984,484
             

95,761,000

    RETAIL - CONSUMER STAPLES - 0.1%      
719,213   Naked Wines PLC(a)         1,305,001
             
 
    RETAIL - DISCRETIONARY - 2.4%      
205,051   Children's Place, Inc. (The)(a)(c)(d)         8,886,911
24,756   Cricut, Inc.(a)(c)         166,855
1,408,544   Dufry A.G. - ADR(a)         5,225,698
4,005,095   Marks & Spencer Group PLC(a)         6,898,945
38,661   Sixt S.E.         2,712,983
             

23,891,392

    SEMICONDUCTORS - 2.7%      
120,689   Intel Corporation         4,382,218
179,358   IPG Photonics Corporation(a)(d)         19,115,976
142,849   Vishay Intertechnology, Inc.(c)         2,951,260
             

26,449,454

    SOFTWARE - 11.0%      
1,224,823   ACV Auctions, Inc.(a)(d)         9,051,442
496,701   Cognyte Software Ltd.(a)         2,240,122
1,349,478   Dropbox, Inc., Class A(a)(c)(d)         30,687,131
882,669   HireRight Holdings Corporation(a)(d)         13,116,462
1,309,375   Immersion Corporation(a)(d)         7,397,969
2,530,408   ironSource Ltd.(a)(d)         9,868,591
302,444   ON24, Inc.(a)         2,906,487
16,960   Salesforce, Inc.(a)         3,120,979
23,697   Teradata Corporation(a)         907,358
960,823   Viant Technology, Inc.(a)         4,775,290
 
 

 

INVENOMIC FUND
SCHEDULE OF INVESTMENTS (Unaudited) (Continued)
July 31, 2022
 
Shares             Fair Value
    COMMON STOCKS — 115.7% (Continued)      
    SOFTWARE - 11.0% (Continued)      
61,327   VMware, Inc., Class A(d)       $ 7,126,197
66,764   Workday, Inc., Class A(a)         10,355,096
400,602   Xperi Holding Corporation(d)         6,714,090
28,014   Ziff Davis, Inc.(a)(c)         2,294,066
             

110,561,280

    SPECIALTY REITS - 0.7%      
609,225   CoreCivic, Inc.(a)         6,561,353
             
 
    TECHNOLOGY HARDWARE - 7.2%      
1,149,267   Casa Systems, Inc.(a)         5,079,760
1,155,325   Celestica, Inc.(a)(d)         12,177,125
301,440   Cisco Systems, Inc.(d)         13,676,332
1,313,639   Flex Ltd.(a)(d)         22,069,134
78,293   Kornit Digital Ltd.(a)         2,130,353
83,461   PlayAGS, Inc.(a)(c)         395,605
289,897   Sanmina Corporation(a)(d)         13,349,757
61,674   Sonos, Inc.(a)(c)         1,363,612
             

70,241,678

    TECHNOLOGY SERVICES - 2.6%      
30,710   Cass Information Systems, Inc.         1,119,687
97,347   Fiserv, Inc.(a)(d)         10,287,631
329,770   Nuvei Corporation(a)(c)         11,502,378
14,222   WEX, Inc.(a)         2,363,839
             

25,273,535

    TELECOMMUNICATIONS - 4.7%      
7,355,534   Airtel Africa PLC         14,224,324
1,689,528   AT&T, Inc.(d)         31,729,336
             

45,953,660

    TRANSPORTATION & LOGISTICS - 0.1%      
181,365   Radiant Logistics, Inc.(a)(d)         1,314,896
             
 
    TRANSPORTATION EQUIPMENT - 0.5%      
435,885   NFI Group, Inc.(c)         4,694,073
             
 
 
 

 

INVENOMIC FUND
SCHEDULE OF INVESTMENTS (Unaudited) (Continued)
July 31, 2022
 
Shares             Fair Value
               
    TOTAL COMMON STOCKS (Cost $1,157,392,890)    

$ 1,134,438,697

               
        Expiration Date Exercise Price    
    WARRANT — 0.0%(e)      
    LEISURE FACILITIES & SERVICES - 0.0% (e)      
188,501   Sonder Holdings, Inc. 02/01/2028 $ 11.50     40,339
             
 
    TOTAL WARRANT (Cost $271,671)    

40,339

               
    SHORT-TERM INVESTMENTS — 18.8%      
    COLLATERAL FOR SECURITIES LOANED - 10.7%      
105,130,333   Mount Vernon Liquid Assets Portfolio, LLC, 2.30% (Cost $105,130,333)(f),(g)         105,130,333
             
 
    MONEY MARKET FUNDS - 8.1%      
79,295,543   First American Government Obligations Fund Class X, 1.70% (Cost $79,295,543)(g)         79,295,543
             
 
    TOTAL SHORT-TERM INVESTMENTS (Cost $184,425,876)  

184,425,876

         
Contracts(h)              
    EQUITY OPTIONS PURCHASED - 0.1%   Expiration Date Exercise Price Notional Value  
    CALL OPTIONS PURCHASED - 0.1%      
2,742   AT&T, Inc.   01/19/2024 $ 32.00 $ 5,149,476 $ 135,729
2,356   Lyft, Inc.   09/16/2022   17.50   3,265,416   139,004
5,174   Lyft, Inc.   09/16/2022   20.00   7,171,164   150,046
6,273   Lyft, Inc.   09/16/2022   22.50   8,694,378   122,324
    TOTAL CALL OPTIONS PURCHASED (Cost - $1,383,097)  

547,103

         
    PUT OPTIONS PURCHASED - 0.0%(e)      
1,092   SPDR S&P 500 ETF Trust   08/03/2022 $ 335.00 $ 44,989,308 $ 1,092
880   SPDR S&P 500 ETF Trust   08/03/2022   340.00   36,255,120   880
703   SPDR S&P 500 ETF Trust   08/03/2022   345.00   28,962,897   1,406
559   SPDR S&P 500 ETF Trust   08/03/2022   350.00   23,030,241   559
446   SPDR S&P 500 ETF Trust   08/03/2022   355.00   18,374,754   446
359   SPDR S&P 500 ETF Trust   08/03/2022   360.00   14,790,441   359
288   SPDR S&P 500 ETF Trust   08/03/2022   365.00   11,865,312   288
 
 

 

INVENOMIC FUND
SCHEDULE OF INVESTMENTS (Unaudited) (Continued)
July 31, 2022
 
Contracts(h)              
    EQUITY OPTIONS PURCHASED - 0.1%  (Continued)   Expiration Date Exercise Price Notional Value Fair Value
    PUT OPTIONS PURCHASED - 0.0%(e) (Continued)      
237   SPDR S&P 500 ETF Trust   08/03/2022 $ 370.00 $ 9,764,163 $ 474
    TOTAL PUT OPTIONS PURCHASED (Cost - $1,863,484)  

5,504

         
    TOTAL EQUITY OPTIONS PURCHASED (Cost - $3,246,581)     552,607
           
    TOTAL INVESTMENTS - 134.6% (Cost $1,345,337,018)     $ 1,319,457,519
    LIABILITIES IN EXCESS OF OTHER ASSETS - (34.6)%    

(339,583,639)

    NET ASSETS - 100.0%        

$ 979,873,880

           
 

 

 

 

 

    COMMON STOCKS SOLD SHORT — (81.9)%      
    AEROSPACE & DEFENSE - (1.3)%      
(796,529)   Joby Aviation, Inc.       (4,412,771)
(13,052)   TransDigm Group, Inc.         (8,122,781)
           

(12,535,552)

    ASSET MANAGEMENT - (2.6)%      
(76,453)   Apollo Global Management, Inc.         (4,365,466)
(855,249)   Blue Owl Capital, Inc.         (9,758,391)
(72,347)   Hamilton Lane, Inc., Class A         (5,467,263)
(329,173)   P10, Inc.         (3,894,117)
(73,401)   TPG, Inc.         (2,093,397)
           

(25,578,634)

    AUTOMOTIVE - (2.2)%      
(643,517)   Aurora Innovation, Inc.         (1,634,533)
(69,252)   Lucid Group, Inc.         (1,263,849)
(167,512)   QuantumScape Corporation         (1,812,480)
(202,736)   Rivian Automotive, Inc.         (6,953,845)
(10,332)   Tesla, Inc.         (9,210,461)
           

(20,875,168)

    BANKING - (0.3)%      
(56,020)   First Financial Bankshares, Inc.         (2,474,964)
           
 
             
 
 

 

INVENOMIC FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

July 31, 2022
           
Shares         Fair Value
    COMMON STOCKS SOLD SHORT — (81.9)% (Continued)      
    BEVERAGES - (2.8)%      
(172,879)   Brown-Forman Corporation, Class B        $ (12,831,078)
(14,887)   Celsius Holdings, Inc.         (1,324,348)
(208,467)   Duckhorn Portfolio, Inc. (The)         (3,823,285)
(174,781)   National Beverage Corporation         (9,469,635)
           

(27,448,346)

    BIOTECH & PHARMA - (3.3)%      
(205,926)   Amphastar Pharmaceuticals, Inc.         (7,699,573)
(74,918)   Intellia Therapeutics, Inc.         (4,851,690)
(97,139)   Maravai LifeSciences Holdings, Inc.         (2,534,357)
(27,823)   Moderna, Inc.         (4,565,476)
(102,790)   Novavax, Inc.         (5,603,083)
(859,638)   Oxford Nanopore Technologies PLC         (3,334,202)
(65,449)   Twist Bioscience Corporation       (2,862,739)
           

(31,451,120)

    COMMERCIAL SUPPORT SERVICES - (3.9)%      
(135,671)   Casella Waste Systems, Inc.         (10,982,567)
(69,208)   CorVel Corporation         (11,411,707)
(320,790)   Rollins, Inc.         (12,372,871)
(303,896)   Sovos Brands, Inc.         (4,303,167)
           

(39,070,312)

    CONSTRUCTION MATERIALS - (0.5)%      
(43,901)   Advanced Drainage Systems, Inc.         (5,206,659)
           
 
    CONSUMER SERVICES - (0.3)%      
(159,948)   European Wax Center, Inc.         (3,346,112)
           
 
    E-COMMERCE DISCRETIONARY - (0.4)%      
(89,180)   Chewy, Inc.         (3,461,076)
           
 
    ELECTRIC UTILITIES - (1.1)%      
(115,095)   Brookfield Renewable Corporation         (4,502,516)
(69,966)   NextEra Energy, Inc.         (5,911,428)
           

(10,413,944)

             
 
 

 

INVENOMIC FUND
SCHEDULE OF INVESTMENTS (Unaudited) (Continued)
July 31, 2022
           
Shares         Fair Value
    COMMON STOCKS SOLD SHORT — (81.9)% (Continued)      
    ELECTRICAL EQUIPMENT - (2.0)%      
(152,518)   ChargePoint Holdings, Inc.        $ (2,304,547)
(35,098)   Mesa Laboratories, Inc.         (7,484,648)
(61,628)   Novanta, Inc.         (9,503,038)
           

(19,292,233)

    ENGINEERING & CONSTRUCTION - (1.7)%      
(109,439)   Exponent, Inc.         (10,997,525)
(139,509)   Montrose Environmental Group, Inc.         (5,597,101)
           

(16,594,626)

    FOOD - (1.7)%      
(104,671)   Flowers Foods, Inc.         (2,973,703)
(181,242)   Krispy Kreme, Inc.         (2,588,136)
(78,798)   McCormick & Company, Inc.         (6,883,005)
(59,413)   Salmar ASA       (4,238,069)
           

(16,682,913)

    HEALTH CARE FACILITIES & SERVICES - (4.7)%      
(49,725)   Catalent, Inc.         (5,623,898)
(9,388)   Chemed Corporation         (4,516,473)
(912,299)   Ginkgo Bioworks Holdings, Inc.         (2,609,175)
(73,486)   HealthEquity, Inc.         (4,274,681)
(60,929)   Medpace Holdings, Inc.         (10,329,293)
(181,047)   Option Care Health, Inc.         (6,083,179)
(112,996)   Owens & Minor, Inc.         (4,001,188)
(191,351)   Surgery Partners, Inc.         (7,535,402)
           

(44,973,289)

    HEALTH CARE REIT - (0.3)%      
(169,478)   Medical Properties Trust, Inc.         (2,921,801)
           
 
    HOME & OFFICE PRODUCTS - (0.4)%      
(128,340)   Tempur Sealy International, Inc.         (3,526,783)
           
 
    HOME CONSTRUCTION - (0.3)%      
(111,701)   Green Brick Partners, Inc.         (2,993,587)
           
 
             
 
 

 

INVENOMIC FUND
SCHEDULE OF INVESTMENTS (Unaudited) (Continued)
July 31, 2022
           
Shares         Fair Value
    COMMON STOCKS SOLD SHORT — (81.9)% (Continued)      
    HOUSEHOLD PRODUCTS - (1.1)%      
(53,846)   Church & Dwight Company, Inc.        $ (4,736,833)
(183,269)   elf Beauty, Inc.         (6,145,009)
           

(10,881,842)

    INDUSTRIAL INTERMEDIATE PROD - (0.2)%      
(15,893)   Omega Flex, Inc.         (1,827,536)
           
 
    INDUSTRIAL SUPPORT SERVICES - (1.2)%      
(41,813)   SiteOne Landscape Supply, Inc.         (5,825,805)
(19,957)   Watsco, Inc.         (5,467,220)
           

(11,293,025)

    INSTITUTIONAL FINANCIAL SERVICES - (0.5)%      
(57,390)   Houlihan Lokey, Inc.       (4,852,898)
           
 
    INSURANCE - (1.3)%      
(88,493)   Goosehead Insurance, Inc., Class A         (4,974,192)
(39,989)   RLI Corporation         (4,397,990)
(58,260)   Trupanion, Inc.         (3,672,128)
           

(13,044,310)

    INTERNET MEDIA & SERVICES - (1.0)%      
(133,683)   Hemnet Group A.B.         (2,021,277)
(43,273)   VeriSign, Inc.         (8,185,521)
           

(10,206,798)

    LEISURE FACILITIES & SERVICES - (4.4)%      
(471,062)   AMC Entertainment Holdings, Inc., Class A         (6,858,663)
(51,126)   Churchill Downs, Inc.         (10,726,235)
(24,182)   Dutch Bros, Inc.         (906,583)
(153,484)   MGM Resorts International         (5,023,531)
(142,090)   Planet Fitness, Inc., Class A         (11,198,113)
(166,230)   Shake Shack, Inc., Class A         (8,554,196)
           

(43,267,321)

    LEISURE PRODUCTS - (4.1)%      
(119,531)   Clarus Corporation         (2,464,729)
(713,571)   Dometic Group A.B.         (4,811,563)
(107,557)   LCI Industries         (14,529,876)
             
 
 

 

INVENOMIC FUND
SCHEDULE OF INVESTMENTS (Unaudited) (Continued)
July 31, 2022
             
Shares           Fair Value
    COMMON STOCKS SOLD SHORT— (81.9)% (Continued)        
    LEISURE PRODUCTS - (4.1)% (Continued)        
(101,363)   Malibu Boats, Inc., Class A        $ (6,330,119)
(80,247)   Mattel, Inc.         (1,861,730)
(145,298)   Sturm Ruger & Company, Inc.         (9,608,557)
             

(39,606,574)

    MACHINERY - (2.8)%      
(150,949)   Energy Recovery, Inc.         (3,355,596)
(179,347)   Evoqua Water Technologies Corporation         (6,834,914)
(19,620)   Kadant, Inc.         (3,999,537)
(32,643)   MSA Safety, Inc.         (4,189,403)
(562,149)   Titan International, Inc.         (9,421,618)
             

(27,801,068)

    MEDICAL EQUIPMENT & DEVICES - (2.8)%      
(17,565)   Bio-Rad Laboratories, Inc., Class A       (9,893,662)
(68,702)   iRhythm Technologies, Inc.         (10,623,390)
(13,219)   Lantheus Holdings, Inc.         (1,014,162)
(125,342)   Silk Road Medical, Inc.         (5,704,314)
             

(27,235,528)

    METALS & MINING - (0.2)%      
(13,361)   Alpha Metallurgical Resources, Inc.         (1,827,250)
             
 
    OIL & GAS PRODUCERS - (1.6)%      
(59,139)   Denbury, Inc.         (4,252,685)
(22,762)   Hess Corporation         (2,560,042)
(30,641)   Murphy USA, Inc.         (8,713,075)
             

(15,525,802)

    REAL ESTATE SERVICES - (0.3)%      
(26,799)   Colliers International Group, Inc.         (3,349,071)
             
 
    RENEWABLE ENERGY - (1.7)%      
(92,476)   Enviva, Inc.         (6,439,104)
(60,374)   Green Plains, Inc.         (2,174,671)
(399,347)   Plug Power, Inc.         (8,522,065)
             

(17,135,840)

               
 
 

 

INVENOMIC FUND
SCHEDULE OF INVESTMENTS (Unaudited) (Continued)
July 31, 2022
           
Shares         Fair Value
    COMMON STOCKS SOLD SHORT — (81.9)% (Continued)      
    RETAIL - CONSUMER STAPLES - (2.7)%        
(114,862)   Dollar Tree, Inc.        $ (18,993,581)
(98,393)   Weis Markets, Inc.         (7,569,374)
             

(26,562,955)

    RETAIL - DISCRETIONARY - (3.0)%      
(128,953)   GameStop Corporation, Class A         (4,385,692)
(40,687)   MarineMax, Inc.         (1,661,657)
(533,431)   Mister Car Wash, Inc.         (6,187,800)
(51,530)   Tractor Supply Company         (9,866,963)
(18,849)   Ulta Beauty, Inc.         (7,330,565)
             

(29,432,677)

    SEMICONDUCTORS - (3.4)%      
(190,821)   Impinj, Inc.         (16,223,601)
(141,070)   MaxLinear, Inc.       (5,700,639)
(22,574)   NVIDIA Corporation         (4,100,116)
(83,291)   Wolfspeed, Inc.         (6,938,140)
             

(32,962,496)

    SOFTWARE - (9.7)%      
(40,880)   Appfolio, Inc., Class A         (4,161,993)
(27,144)   Atlassian Corp PLC, Class A         (5,681,782)
(210,164)   Calix, Inc.         (11,987,755)
(77,098)   Coupa Software, Inc.         (5,043,751)
(346,288)   Definitive Healthcare Corporation         (8,996,562)
(89,483)   DigitalOcean Holdings, Inc.         (3,667,013)
(215,380)   Doximity, Inc.         (9,114,882)
(41,859)   Duolingo, Inc.         (3,840,563)
(162,576)   Fortinet, Inc.         (9,697,658)
(104,921)   nCino, Inc.         (3,387,899)
(6,075)   Paycom Software, Inc.         (2,007,727)
(145,205)   Paycor HCM, Inc.         (3,875,521)
(5,077)   Paylocity Holding Corporation         (1,045,507)
(45,938)   Procore Technologies, Inc.         (2,374,995)
(209,798)   R1 RCM, Inc.         (5,244,950)
(113,444)   Simulations Plus, Inc.         (7,277,433)
(98,275)   Sprout Social, Inc., Class A         (5,120,127)
               
 
 

 

INVENOMIC FUND
SCHEDULE OF INVESTMENTS (Unaudited) (Continued)
July 31, 2022
             
Shares           Fair Value
    COMMON STOCKS SOLD SHORT — (81.9)% (Continued)        
    SOFTWARE - (9.7)% (Continued)        
(58,142)   ZoomInfo Technologies, Inc.        $ (2,203,000)
(17,880)   Zscaler, Inc.         (2,772,473)
           

(97,501,591)

    SPECIALTY FINANCE - (1.2)%      
(19,695)   Credit Acceptance Corporation         (11,342,547)
           
 
    SPECIALTY REIT - (1.5)%      
(89,475)   Gladstone Land Corporation         (2,425,667)
(255,349)   Iron Mountain, Inc.         (12,381,873)
                                     (14,807,540)
    TECHNOLOGY HARDWARE - (1.8)%      
(72,656)   Apple, Inc.       (11,807,327)
(146,751)   Enovix Corporation         (1,954,723)
(100,223)   PAR Technology Corporation         (4,171,281)
           

(17,933,331)

    TECHNOLOGY SERVICES - (3.1)%      
(10,294)   Automatic Data Processing, Inc.         (2,482,089)
(29,139)   Block, Inc., Class A         (2,216,312)
(46,254)   Gartner, Inc.         (12,279,513)
(44,880)   Jack Henry & Associates, Inc.         (9,324,718)
(226,215)   Toast, Inc., Class A         (3,614,916)
           

(29,917,548)

    TELECOMMUNICATIONS - (0.2)%      
(165,637)   Cyxtera Technologies, Inc.         (2,019,115)
(14,568)   Shenandoah Telecommunications Company         (324,866)
           

(2,343,981)

    TRANSPORTATION & LOGISTICS - (1.7)%      
(130,950)   Air Transport Services Group, Inc.         (4,103,973)
(465,571)   American Airlines Group, Inc.         (6,382,978)
(57,003)   Cargojet, Inc.         (6,606,548)
           

(17,093,499)

    WHOLESALE - CONSUMER STAPLES - (0.6)%      
(146,588)   Grocery Outlet Holding Corporation         (6,262,239)
           
 
             
 
 

 

INVENOMIC FUND
SCHEDULE OF INVESTMENTS (Unaudited) (Continued)
July 31, 2022
           
Shares         Fair Value
         
  TOTAL COMMON STOCK SOLD SHORT (Proceeds – $820,916,618)     $       (802,862,386)
         
  EXCHANGE-TRADED FUNDS SOLD SHORT — (1.8)%      
  EQUITY - (1.8)%      
(126,035) iShares MSCI Saudi Arabia ETF         (5,554,362)
(275,736) ProShares UltraPro S&P 500         (12,366,760)
  TOTAL EXCHANGE-TRADED FUNDS SOLD SHORT (Proceeds - $15,084,507)      

(17,921,122)

           
  TOTAL SECURITIES SOLD SHORT - (Proceeds - $836,001,125)    

$ (820,783,508)
         
 
ADR  - American Depositary Receipt  
ETF  - Exchange-Traded Fund  
LLC  - Limited Liability Company  
L.P.  - Limited Partnership  
Ltd.  - Limited Company  
MSCI  - Morgan Stanley Capital International  
PLC  - Public Limited Company  
REIT  - Real Estate Investment Trust  
S.A.  - Société Anonyme  
SPDR  - Standard & Poor's Depositary Receipt  
(a) Non-income producing security.
(b) The value of this security has been determined in good faith under policies of the Board of Trustees.
(c) All or a portion of the security is on loan.  The total fair value of the securities on loan as of July 31, 2022 was $96,327,248.
(d) All or a portion of the security is held as collateral for short sales.
(e) Percentage rounds to less than 0.1%.
(f) Security was purchased with cash received as collateral for securities on loan at July 31, 2022. Total collateral had a value of $105,130,333 at July 31, 2022.
(g) Rate disclosed is the seven day effective yield as of July 31, 2022.
(h) Each option contract allows the holder of the option to purchase or sell 100 shares of the underlying security.