Column Mid Cap Select Fund
Schedule of Investments
May 31, 2025 (Unaudited)

COMMON STOCKS - 93.3%
 
Shares
   
Value  
Aerospace & Defense - 5.0%
   
General Dynamics Corp.
 
42,309
  $
 11,782,633
HEICO Corp. - Class A
 
170,703
   
   40,258,596
Hexcel Corp.
 
258,122
   
   13,652,073
Howmet Aerospace, Inc.
 
96,971
   
   16,474,403
L3Harris Technologies, Inc.
 
26,865
   
   6,564,194
Textron, Inc.
 
129,711
   
   9,602,505
Woodward, Inc.
 
92,973
   
   20,112,849
         
 118,447,253
             
Air Freight & Logistics - 0.3%
   
Expeditors International of Washington, Inc.
 
65,299
   
   7,361,156
             
Automobile Components - 0.1%
   
Gentex Corp.
 
148,846
   
   3,210,608
             
Automobiles - 0.1%
   
Harley-Davidson, Inc.
 
101,290
   
   2,452,231
             
Banks - 2.0%
   
East West Bancorp, Inc.
 
206,872
   
   18,866,726
Fifth Third Bancorp
 
183,131
   
   6,993,773
Huntington Bancshares, Inc./OH
 
546,022
   
   8,534,324
Wintrust Financial Corp.
 
114,661
   
   13,691,670
         
   48,086,493
             
Beverages - 0.7%
   
Coca-Cola Consolidated, Inc.
 
47,830
   
   5,483,710
Coca-Cola Europacific Partners PLC
 
47,357
   
   4,346,899
Primo Brands Corp. - Class A
 
166,185
   
   5,495,738
         
   15,326,347
             
Broadline Retail - 0.4%
   
eBay, Inc.
 
119,732
   
   8,760,790
             
Building Products - 3.7%
   
Allegion PLC
 
210,069
   
   29,976,846
Builders FirstSource, Inc. (a)
 
23,026
   
   2,479,440
Lennox International, Inc.
 
35,248
   
   19,895,734
Masco Corp.
 
421,423
   
   26,305,224
Masterbrand, Inc. (a)
 
173,480
   
   1,769,496
Resideo Technologies, Inc. (a)
 
151,504
   
   3,136,133
UFP Industries, Inc.
 
46,733
   
   4,559,271
         
   88,122,144
             
Capital Markets - 11.0%
   
Affiliated Managers Group, Inc.
 
29,192
   
   5,137,792
Ameriprise Financial, Inc.
 
30,223
   
   15,390,761
Carlyle Group, Inc.
 
174,840
   
   7,902,768
Evercore, Inc. - Class A
 
38,040
   
   8,805,880
FactSet Research Systems, Inc.
 
43,877
   
   20,107,074
Hamilton Lane, Inc. - Class A
 
155,246
   
   23,131,654
Houlihan Lokey, Inc.
 
287,269
   
   50,180,149
Intercontinental Exchange, Inc.
 
128,883
   
   23,173,163
LPL Financial Holdings, Inc.
 
123,782
   
   47,923,439
MSCI, Inc.
 
26,296
   
   14,831,470
Raymond James Financial, Inc.
 
142,749
   
   20,981,248
Stifel Financial Corp.
 
226,818
   
   21,370,792
         
 258,936,190
             
Chemicals - 2.1%
   
Albemarle Corp.
 
103,462
   
   5,769,041
CF Industries Holdings, Inc.
 
91,410
   
   8,291,801
DuPont de Nemours, Inc.
 
63,378
   
   4,233,650
Eastman Chemical Co.
 
128,350
   
   10,058,790
Mosaic Co.
 
181,015
   
   6,541,882
Scotts Miracle-Gro Co.
 
254,211
   
   15,140,807
         
   50,035,971
             
Commercial Services & Supplies - 1.4%
   
RB Global, Inc.
 
81,330
   
   8,564,049
Republic Services, Inc.
 
94,684
   
   24,361,246
         
   32,925,295
             
Construction & Engineering - 0.7%
   
EMCOR Group, Inc.
 
36,134
   
   17,050,189
             
Consumer Finance - 0.7%
   
Capital One Financial Corp.
 
15,716
   
   2,972,682
SLM Corp.
 
191,327
   
   6,193,255
Synchrony Financial
 
114,879
   
   6,622,774
         
   15,788,711
             
Consumer Staples Distribution & Retail - 1.3%
   
Maplebear, Inc. (a)
 
66,894
   
   3,055,049
Sysco Corp.
 
236,105
   
   17,235,665
US Foods Holding Corp. (a)
 
118,385
   
   9,366,621
         
   29,657,335
             
Containers & Packaging - 1.3%
   
Ball Corp.
 
96,309
   
   5,160,236
Packaging Corp. of America
 
94,500
   
   18,254,565
Sealed Air Corp.
 
250,655
   
   8,071,091
         
   31,485,892
             
Distributors - 1.1%
   
LKQ Corp.
 
82,323
   
   3,331,612
Pool Corp.
 
74,279
   
   22,327,524
         
   25,659,136
             
Diversified Consumer Services - 0.5%
   
Frontdoor, Inc. (a)
 
110,454
   
   6,076,075
H&R Block, Inc.
 
83,156
   
   4,735,734
         
   10,811,809
             
Electric Utilities - 0.9%
   
Entergy Corp.
 
71,563
   
   5,959,767
FirstEnergy Corp.
 
100,063
   
   4,196,642
NRG Energy, Inc.
 
29,709
   
   4,631,633
OGE Energy Corp.
 
145,109
   
   6,452,997
         
   21,241,039
             
Electrical Equipment - 2.8%
   
AMETEK, Inc.
 
284,087
   
   50,777,710
Generac Holdings, Inc. (a)
 
46,842
   
   5,720,814
Sensata Technologies Holding PLC
 
345,585
   
   9,005,945
         
   65,504,469
             
Electronic Equipment, Instruments & Components - 4.4%
   
Arrow Electronics, Inc. (a)
 
135,581
   
   16,050,079
CDW Corp./DE
 
31,058
   
   5,601,621
Flex Ltd. (a)
 
128,294
   
   5,426,836
Jabil, Inc.
 
37,951
   
   6,376,147
Keysight Technologies, Inc. (a)
 
158,838
   
   24,943,920
TE Connectivity PLC
 
31,945
   
   5,113,436
Teledyne Technologies, Inc. (a)
 
67,507
   
   33,676,542
Zebra Technologies Corp. - Class A (a)
 
23,880
   
   6,919,708
         
 104,108,289
             
Energy Equipment & Services - 0.7%
   
ChampionX Corp.
 
268,788
   
   6,469,727
Helmerich & Payne, Inc.
 
211,368
   
   3,223,362
TechnipFMC Plc
 
213,883
   
   6,662,456
         
   16,355,545
             
Financial Services - 1.1%
   
Equitable Holdings, Inc.
 
73,588
   
   3,890,597
Fidelity National Information Services, Inc.
 
43,729
   
   3,481,266
Global Payments, Inc.
 
124,083
   
   9,381,916
Rocket Cos., Inc. - Class A
 
374,041
   
   4,769,023
Voya Financial, Inc.
 
55,975
   
   3,723,457
         
   25,246,259
             
Food Products - 0.2%
   
Lamb Weston Holdings, Inc.
 
68,153
   
   3,801,574
             
Ground Transportation - 1.7%
   
CSX Corp.
 
408,338
   
   12,899,397
Landstar System, Inc.
 
26,610
   
   3,651,424
Norfolk Southern Corp.
 
48,629
   
   12,017,199
Old Dominion Freight Line, Inc.
 
77,919
   
   12,480,286
         
   41,048,306
             
Health Care Equipment & Supplies - 2.3%
   
Align Technology, Inc. (a)
 
119,592
   
   21,638,977
Cooper Cos., Inc. (a)
 
317,714
   
   21,693,512
DENTSPLY SIRONA, Inc.
 
281,232
   
   4,494,087
Solventum Corp. (a)
 
82,769
   
   6,049,586
         
   53,876,162
             
Health Care Providers & Services - 3.1%
   
Cencora, Inc.
 
88,957
   
   25,907,837
Centene Corp. (a)
 
231,634
   
   13,073,423
Labcorp Holdings, Inc.
 
58,664
   
   14,605,576
McKesson Corp.
 
6,270
   
   4,511,328
Molina Healthcare, Inc. (a)
 
12,901
   
   3,935,321
Quest Diagnostics, Inc.
 
19,122
   
   3,314,607
Tenet Healthcare Corp. (a)
 
44,456
   
   7,502,839
         
   72,850,931
             
Hotels, Restaurants & Leisure - 2.7%
   
Boyd Gaming Corp.
 
82,341
   
   6,173,105
Churchill Downs, Inc.
 
31,645
   
   3,021,148
Darden Restaurants, Inc.
 
108,390
   
   23,218,222
Domino's Pizza, Inc.
 
47,805
   
   22,650,965
Marriott International, Inc./MD - Class A
 
18,545
   
   4,892,727
Wyndham Hotels & Resorts, Inc.
 
47,101
   
   3,899,021
         
   63,855,188
             
Household Durables - 1.5%
   
DR Horton, Inc.
 
126,750
   
   14,964,105
NVR, Inc. (a)
 
1,124
   
   7,998,305
Somnigroup International, Inc.
 
138,943
   
   9,039,632
TopBuild Corp. (a)
 
14,737
   
   4,168,950
         
   36,170,992
             
Industrial Conglomerates - 0.2%
   
3M Co.
 
27,725
   
   4,113,004
             
Insurance - 4.8%
   
Aon PLC - Class A
 
14,334
   
   5,333,395
Brown & Brown, Inc.
 
186,447
   
   21,049,866
First American Financial Corp.
 
72,205
   
   4,029,761
Markel Group, Inc. (a)
 
4,786
   
   9,292,976
Progressive Corp.
 
50,133
   
   14,284,396
Reinsurance Group of America, Inc.
 
98,662
   
   20,056,998
RenaissanceRe Holdings Ltd.
 
79,926
   
   19,935,143
Travelers Cos., Inc.
 
17,743
   
   4,891,745
W R Berkley Corp.
 
195,202
   
   14,579,637
         
 113,453,917
             
IT Services - 0.7%
   
Akamai Technologies, Inc. (a)
 
157,326
   
   11,945,763
Cognizant Technology Solutions Corp. - Class A
 
43,273
   
   3,504,681
         
   15,450,444
             
Life Sciences Tools & Services - 3.2%
   
Agilent Technologies, Inc.
 
108,084
   
   12,096,761
Bio-Rad Laboratories, Inc. - Class A (a)
 
39,287
   
   8,915,399
IQVIA Holdings, Inc. (a)
 
104,884
   
   14,718,372
QIAGEN NV
 
363,540
   
   16,406,560
West Pharmaceutical Services, Inc.
 
110,327
   
   23,262,448
         
   75,399,540
             
Machinery - 6.1%
   
Cummins, Inc.
 
44,975
   
   14,458,563
Dover Corp.
 
111,394
   
   19,800,284
ITT, Inc.
 
17,556
   
   2,642,880
Nordson Corp.
 
96,196
   
   20,392,590
Parker-Hannifin Corp.
 
10,384
   
   6,902,245
Pentair PLC
 
259,856
   
   25,772,518
Snap-on, Inc.
 
51,197
   
   16,421,438
Watts Water Technologies, Inc. - Class A
 
22,862
   
   5,535,347
Westinghouse Air Brake Technologies Corp.
 
161,665
   
   32,708,063
         
 144,633,928
             
Metals & Mining - 0.7%
   
Commercial Metals Co.
 
90,570
   
   4,219,656
Freeport-McMoRan, Inc.
 
116,492
   
   4,482,612
Reliance, Inc.
 
25,674
   
   7,517,861
         
   16,220,129
             
Multi-Utilities - 1.3%
   
CenterPoint Energy, Inc.
 
116,939
   
   4,354,808
DTE Energy Co.
 
64,467
   
   8,809,416
WEC Energy Group, Inc.
 
151,282
   
   16,253,738
         
   29,417,962
             
Oil, Gas & Consumable Fuels - 2.3%
   
Chord Energy Corp.
 
44,936
   
   4,044,240
Coterra Energy, Inc.
 
490,290
   
   11,918,950
Diamondback Energy, Inc.
 
40,944
   
   5,509,015
EQT Corp.
 
141,520
   
   7,801,998
Marathon Petroleum Corp.
 
50,802
   
   8,165,913
Murphy Oil Corp.
 
175,814
   
   3,679,787
ONEOK, Inc.
 
39,482
   
   3,191,725
Phillips 66
 
28,950
   
   3,285,246
Range Resources Corp.
 
176,313
   
   6,706,947
         
   54,303,821
             
Professional Services - 5.8%
   
Broadridge Financial Solutions, Inc.
 
154,488
   
   37,514,321
CACI International, Inc. - Class A (a)
 
11,945
   
   5,112,460
Equifax, Inc.
 
140,962
   
   37,240,751
Exponent, Inc.
 
223,428
   
   17,056,494
Leidos Holdings, Inc.
 
34,147
   
   5,071,512
Robert Half, Inc.
 
50,600
   
   2,316,974
Science Applications International Corp.
 
27,167
   
   3,138,875
SS&C Technologies Holdings, Inc.
 
68,673
   
   5,549,465
Verisk Analytics, Inc.
 
77,559
   
   24,364,384
         
 137,365,236
             
 
Real Estate Management & Development - 1.0%
   
CBRE Group, Inc. - Class A (a)
 
183,103
   
   22,891,537
             
Semiconductors & Semiconductor Equipment - 4.2%
   
Applied Materials, Inc.
 
49,953
   
   7,830,133
Entegris, Inc.
 
221,323
   
   15,213,743
Lam Research Corp.
 
79,304
   
   6,406,970
Microchip Technology, Inc.
 
113,769
   
   6,603,153
Monolithic Power Systems, Inc.
 
45,506
   
   30,120,421
Skyworks Solutions, Inc.
 
206,213
   
   14,234,883
Universal Display Corp.
 
125,133
   
   17,937,816
         
   98,347,119
             
Software - 3.1%
   
ANSYS, Inc. (a)
 
56,530
   
   18,701,254
Bentley Systems, Inc. - Class B
 
492,018
   
   23,484,019
Check Point Software Technologies Ltd. (a)
 
47,414
   
   10,852,116
Gen Digital, Inc.
 
211,989
   
   6,037,447
InterDigital, Inc.
 
21,437
   
   4,657,403
Synopsys, Inc. (a)
 
19,910
   
   9,237,842
         
   72,970,081
             
Specialty Retail - 3.6%
   
AutoZone, Inc. (a)
 
3,723
   
   13,898,108
Ross Stores, Inc.
 
283,710
   
   39,744,934
TJX Cos., Inc.
 
91,018
   
   11,550,184
Ulta Beauty, Inc. (a)
 
36,976
   
   17,432,705
Valvoline, Inc. (a)
 
60,070
   
   2,077,821
         
   84,703,752
             
Technology Hardware, Storage & Peripherals - 0.5%
   
Dell Technologies, Inc. - Class C
 
51,523
   
   5,732,964
NetApp, Inc.
 
58,074
   
   5,758,618
         
   11,491,582
             
Textiles, Apparel & Luxury Goods - 0.4%
   
Crocs, Inc. (a)
 
42,025
   
   4,286,550
Ralph Lauren Corp.
 
18,048
   
   4,995,867
         
   9,282,417
             
Trading Companies & Distributors - 1.6%
   
Air Lease Corp.
 
369,050
   
   21,260,970
GATX Corp.
 
86,396
   
   13,757,699
MSC Industrial Direct Co., Inc. - Class A
 
44,488
   
   3,612,426
         
   38,631,095
TOTAL COMMON STOCKS (Cost $2,061,232,452)
   
 2,196,851,868
             
REAL ESTATE INVESTMENT TRUSTS - COMMON - 3.8%
 
Shares
   
Value  
Industrial REITs - 0.6%
   
Americold Realty Trust, Inc.
 
584,686
   
   9,688,247
EastGroup Properties, Inc.
 
30,362
   
   5,147,877
         
   14,836,124
             
Office REITs - 0.7%
   
BXP, Inc.
 
252,149
   
   16,977,192
             
Residential REITs - 0.6%
   
Equity LifeStyle Properties, Inc.
 
73,077
   
   4,645,505
Equity Residential
 
61,331
   
   4,301,756
Essex Property Trust, Inc.
 
22,015
   
   6,250,059
         
   15,197,320
             
Retail REITs - 0.7%
   
Regency Centers Corp.
 
88,449
   
   6,381,595
 
 
Simon Property Group, Inc.
 
61,570
   
   10,040,220
         
   16,421,815
             
Specialized REITs - 1.2%
   
Extra Space Storage, Inc.
 
25,504
   
   3,854,930
Lamar Advertising Co. - Class A
 
57,825
   
   6,970,225
SBA Communications Corp.
 
50,842
   
   11,789,751
VICI Properties, Inc.
 
150,029
   
   4,757,420
         
   27,372,326
TOTAL REAL ESTATE INVESTMENT TRUSTS - COMMON (Cost $93,555,942)
   
   90,804,777
             
SHORT-TERM INVESTMENTS - 2.8%
                    Shares
   
Value  
Money Market Funds - 2.8%
       
 
First American Government Obligations Fund - Class X, 4.25% (b)
 
65,859,507
   
   65,859,507
TOTAL SHORT-TERM INVESTMENTS (Cost $65,859,507)
   
   65,859,507
             
TOTAL INVESTMENTS - 99.9% (Cost $2,220,647,901)
   
 2,353,516,152
Other Assets in Excess of Liabilities - 0.1%
   
2,215,283
TOTAL NET ASSETS - 100.0%
   
 
  $
2,355,731,435

Percentages are stated as a percent of net assets.
–%
 
The Global Industry Classification Standard ("GICS®") was developed by and/or is the exclusive property of MSCI, Inc. ("MSCI") 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 the Adviser.

PLC - Public Limited Company
REIT - Real Estate Investment Trust

(a)
Non-income producing security.
(b)
The rate shown represents the 7-day annualized effective yield as of May 31, 2025.

Summary of Fair Value Disclosure as of May 31, 2025 (Unaudited)
 
Column Mid Cap Select Fund (the "Fund") has adopted fair value accounting standards which establish a definition of fair value and set out a hierarchy for measuring fair value. These standards require additional disclosures about the various inputs and valuation techniques used to develop the measurements of fair value, a discussion of changes in valuation techniques and related inputs during the period, and expanded disclosure of valuation levels for major security types. These inputs are summarized in the three broad levels listed below. The inputs or valuation methodology used for valuing securities are not an indication of the risk associated with investing in those securities.
 
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 based on the best information available.
 
The following is a summary of the fair valuation hierarchy of the Fund’s securities as of May 31, 2025:

   
Level 1
   
Level 2
   
Level 3
   
Total
 
Assets:
                       
Investments:
                       
  Common Stocks
   
2,196,851,868
     
     
     
2,196,851,868
 
  Real Estate Investment Trusts - Common
   
90,804,777
     
     
     
90,804,777
 
  Money Market Funds
   
65,859,507
     
     
     
65,859,507
 
Total Investments
   
2,353,516,152
     
     
     
2,353,516,152
 
   
Refer to the Schedule of Investments for further disaggregation of investment categories.