13D ACTIVIST FUND
SCHEDULE OF INVESTMENTS (Unaudited)
June 30, 2025

Shares							Fair Value
		COMMON STOCKS — 94.6%
		AEROSPACE & DEFENSE - 6.6%
137,012		Mercury Systems, Inc.^(a)					$ 7,379,466

		ASSET MANAGEMENT - 4.6%
134,654		Janus Henderson Group plc					5,229,961
		AUTOMOTIVE - 5.5%
55,839		Autoliv, Inc.					6,248,385

		BIOTECH & PHARMA - 4.6%
120,335		Exelixis, Inc.^(a)					5,303,765

		CHEMICALS - 6.0%
23,900		Air Products and Chemicals, Inc.					6,741,234

		COMMERCIAL SUPPORT SERVICES - 2.8%
560,134		Vestis Corporation					3,209,568

		E-COMMERCE DISCRETIONARY - 3.4%
77,836		Etsy, Inc.^(a)					3,904,254

		FOOD - 3.7%
80,582		Lamb Weston Holdings, Inc.					4,178,177

		GAS & WATER UTILITIES - 6.4%
96,798		Southwest Gas Holdings, Inc.					7,200,803

		HEALTH CARE FACILITIES & SERVICES - 3.8%
28,000		Charles River Laboratories International, Inc.^(a)					4,248,440

		HOUSEHOLD PRODUCTS - 4.3%
235,309		Kenvue, Inc.					4,925,017

13D ACTIVIST FUND
SCHEDULE OF INVESTMENTS (Unaudited) (Continued)
June 30, 2025

Shares							Fair Value
		COMMON STOCKS — 94.6% (Continued)
		INTERNET MEDIA & SERVICES - 3.6%
132,779		Match Group, Inc.					$ 4,101,543

		LEISURE FACILITIES & SERVICES - 3.1%
195,045		Penn Entertainment, Inc.^(a)					3,485,454

		LEISURE PRODUCTS - 4.6%
164,000		Yeti Holdings, Inc.^(a)					5,169,280

		MACHINERY - 3.3%
26,097		Middleby Corporation (The)^(a)					3,757,968

		PUBLISHING & BROADCASTING - 6.0%
458,338		Pearson plc - ADR					6,842,986

		RETAIL - DISCRETIONARY - 4.5%
21,337		Asbury Automotive Group, Inc.^(a)					5,089,728

		SEMICONDUCTORS - 6.7%
88,740		Qorvo, Inc.^(a)					7,534,913

		SOFTWARE - 6.6%
60,755		Twilio, Inc., Class A^(a)					7,555,493

		TECHNOLOGY SERVICES - 4.5%
453,272		Riot Blockchain, Inc.^(a)					5,121,974


		TOTAL COMMON STOCKS (Cost $97,152,407)					107,228,409

13D ACTIVIST FUND
SCHEDULE OF INVESTMENTS (Unaudited) (Continued)
June 30, 2025

Shares							Fair Value
		ESCROW SHARES — 0.0%^(b)
81,753		Pershing Square Sparc Holdings Ltd.^(a)(c)(d)					$ –
327,017		Pershing Square Tontine Holdings Ltd.^(a)(c)(d)					–
		TOTAL ESCROW SHARES (Cost $0)					–

		SHORT-TERM INVESTMENT — 3.4%
		MONEY MARKET FUND - 3.4%
3,801,339		First American Government Obligations Fund, Class X, 4.21%^(e) (Cost $3,801,339)					3,801,339

		TOTAL INVESTMENTS - 98.0% (Cost $100,953,746)					$ 111,029,748
		OTHER ASSETS IN EXCESS OF LIABILITIES - 2.0%					2,246,533
		NET ASSETS - 100.0%					$ 113,276,281

ADR	- American Depositary Receipt
LTD	- Limited Company
PLC	- Public Limited Company

^(a)	Non-income producing security.
^(b)	Percentage rounds to less than 0.1%.
^(c)	Illiquid security. The total fair value of the security as of June 30, 2025, was $0, representing 0% of net assets.
^(d)	Valued using unobservable inputs and fair valued by the adviser. Security is Level 3.
^(e)	Rate disclosed is the seven day effective yield as of June 30, 2025.