| PINNACLE MULTI-STRATEGY CORE FUND | ||||||||||
| SCHEDULE OF INVESTMENTS (Unaudited) | ||||||||||
| June 30, 2025 | ||||||||||
| Shares | Fair Value | |||||||||
| EXCHANGE-TRADED FUNDS — 96.2% | ||||||||||
| EQUITY - 96.2% | ||||||||||
| 2,695 | Communication Services Select Sector SPDR Fund | $ 292,488 | ||||||||
| 3,240 | Consumer Staples Select Sector SPDR Fund | 262,343 | ||||||||
| 3,215 | Energy Select Sector SPDR Fund | 272,664 | ||||||||
| 5,390 | Financial Select Sector SPDR ETF | 282,274 | ||||||||
| 2,750 | First Trust Capital Strength ETF | 249,948 | ||||||||
| 1,990 | First Trust Dow Jones Internet Index Fund(a) | 535,967 | ||||||||
| 5,980 | First Trust Morningstar Dividend Leaders Index Fund | 250,383 | ||||||||
| 1,290 | First Trust NASDAQ-100 Technology Index Fund | 274,551 | ||||||||
| 1,860 | Health Care Select Sector SPDR Fund | 250,709 | ||||||||
| 1,820 | Industrial Select Sector SPDR Fund | 268,486 | ||||||||
| 5,085 | Invesco QQQ Trust Series 1 | 2,805,089 | ||||||||
| 4,825 | iShares Expanded Tech-Software Sector ETF(a) | 528,338 | ||||||||
| 2,685 | iShares MSCI USA Min Vol Factor ETF | 252,041 | ||||||||
| 321,950 | Pinnacle Focused Opportunities ETF(b) | 8,299,260 | ||||||||
| 6,515 | Real Estate Select Sector SPDR Fund | 269,851 | ||||||||
| 64,945 | SPDR Portfolio Developed World ex-US ETF | 2,629,623 | ||||||||
| 48,330 | SPDR Portfolio S&P 400 Mid Cap ETF | 2,628,185 | ||||||||
| 27,665 | SPDR Portfolio S&P 500 Growth ETF | 2,637,028 | ||||||||
| 30,245 | SPDR S&P 400 Mid Cap Growth ETF | 2,627,383 | ||||||||
| 8,000 | SPDR S&P 500 ETF Trust ETF | 4,942,801 | ||||||||
| 4,230 | SPDR S&P Insurance ETF | 252,700 | ||||||||
| 4,270 | SPDR S&P Metals & Mining ETF | 287,029 | ||||||||
| 1,280 | Technology Select Sector SPDR Fund | 324,134 | ||||||||
| 3,395 | Utilities Select Sector SPDR Fund | 277,236 | ||||||||
|
31,700,511 | ||||||||||
| TOTAL EXCHANGE-TRADED FUNDS (Cost $29,073,157) | 31 ,700,511 | |||||||||
| PINNACLE MULTI-STRATEGY CORE FUND | ||||||||||
| SCHEDULE OF INVESTMENTS (Unaudited) (Continued) | ||||||||||
| June 30, 2025 | ||||||||||
| Shares | Fair Value | |||||||||
| SHORT-TERM INVESTMENTS — 22.6% | ||||||||||
| MONEY MARKET FUNDS - 22.6% | ||||||||||
| 7,451,850 | First American Government Obligations Fund, Class X, 4.21% (Cost $7,451,850)(c) | $ 7,451,850 | ||||||||
| TOTAL INVESTMENTS - 118.8% (Cost $36,525,007) | $ 39,152,361 | |||||||||
| LIABILITIES IN EXCESS OF OTHER ASSETS - (18.8)% | (6,188,476) | |||||||||
| NET ASSETS - 100.0% | $ 32,963,885 | |||||||||
| ETF | - Exchange-Traded Fund |
| MSCI | - Morgan Stanley Capital International |
| SPDR | - Standard & Poor's Depositary Receipt |
| (a) | Non-income producing security. |
| (b) | Affiliated security. |
| (c) | Rate disclosed in the seven-day effective yield as of June 30, 2025. |