| Grandeur Peak Global Contrarian Fund | Portfolio of Investments |
| January 31, 2026 (Unaudited) |
| Shares | Fair Value | |
| COMMON STOCKS — 99.37% | ||
| Australia — 5.55% | ||
| Fiducian Group Ltd | 234,703 | $ 1,758,761 |
| IPD Group Ltd/Australia | 383,719 | 1,178,495 |
| Kogan.com Ltd | 447,464 | 1,143,668 |
| MA Financial Group Ltd | 240,008 | 1,733,326 |
| Navigator Global Investments Limited | 1,091,240 | 2,409,103 |
| 8,223,353 | ||
| Belgium — 3.75% | ||
| Azelis Group N.V.(a) | 68,111 | 675,294 |
| Melexis NV | 34,856 | 2,635,282 |
| X-Fab Silicon Foundries S.E. 144A(a)(b)(c) | 368,319 | 2,238,656 |
| 5,549,232 | ||
| Brazil — 2.85% | ||
| Armac Locacao Logistica | 932,300 | 847,239 |
| Grupo Mateus S.A.(a) | 881,600 | 809,545 |
| Patria Investments Limited, Class A | 101,521 | 1,483,222 |
| Track & Field Co. SA | 363,600 | 1,075,613 |
| 4,215,619 | ||
| Canada — 1.76% | ||
| BioSyent Inc | 138,757 | 1,284,004 |
| CCL Industries, Inc., Class B | 21,900 | 1,319,826 |
| 2,603,830 | ||
| China — 3.98% | ||
| Chaoju Eye Care Holdings Ltd 144A(b)(c) | 4,175,000 | 1,437,599 |
| Silergy Corporation(a) | 420,000 | 3,728,519 |
| TK Group Holdings Ltd | 2,262,883 | 721,257 |
| 5,887,375 | ||
| France — 3.26% | ||
| Thermador Groupe(a) | 9,730 | 908,149 |
| Virbac S.A. | 7,221 | 3,010,177 |
| Wavestone(a) | 12,617 | 902,283 |
| 4,820,609 | ||
| Germany — 2.84% | ||
| Dermapharm Holding SE(a) | 53,177 | 2,197,840 |
| Elmos Semiconductor AG | 14,709 | 2,013,068 |
| 4,210,908 | ||
| Hong Kong — 1.24% | ||
| Plover Bay Tech(b) | 2,057,439 | 1,835,645 |
| India — 0.55% | ||
| Gulf Oil Lubricants India Ltd.(a) | 68,501 | 814,197 |
| Indonesia — 3.57% | ||
| Arwana Citramulia Tbk PT(a) | 15,840,000 | 490,549 |
| Aspirasi Hidup Ind | 42,869,900 | 1,021,259 |
| Hartadinata Abadi Tbk PT | 24,507,800 | 3,254,862 |
| Selamat Sempurna Tbk PT(a) | 5,029,600 | 522,700 |
| 5,289,370 | ||
| Ireland — 1.14% | ||
| ICON plc(a) | 9,398 | 1,693,989 |
| Italy — 8.73% | ||
| DiaSorin SpA(a) | 54,011 | 4,623,475 |
| Interpump Group SpA | 51,671 | 2,995,349 |
| Recordati Industria Chimica e Farmaceutica SpA(a) | 81,945 | 4,503,476 |
| Shares | Fair Value | |
| COMMON STOCKS — 99.37% (continued) | ||
| Italy — 8.73% (continued) | ||
| Sanlorenzo SpA/Ameglia(a) | 21,197 | $ 810,725 |
| 12,933,025 | ||
| Japan — 9.21% | ||
| Charm Care Corp KK | 281,600 | 2,369,078 |
| Halows Company Ltd. | 36,500 | 1,071,920 |
| Integral Corp | 43,900 | 1,005,580 |
| Kitz Corp | 86,800 | 1,127,892 |
| Mani, Inc.(a) | 120,100 | 1,181,118 |
| PILLAR Corp(a) | 19,600 | 816,867 |
| System Support, Inc. | 229,600 | 2,071,061 |
| Syuppin Company, Ltd. | 92,900 | 695,120 |
| Totech Corp | 52,200 | 1,355,914 |
| ULS Group Inc | 528,000 | 1,944,663 |
| 13,639,213 | ||
| Luxembourg — 2.15% | ||
| Eurofins Scientific S.E. | 39,465 | 3,189,214 |
| Mexico — 2.51% | ||
| Corporativo Fragua SAB de CV(a) | 35,150 | 1,066,208 |
| GCC S.A.B. de C.V. 144A(b)(c) | 102,300 | 1,101,395 |
| Regional S.A.B. de C.V. | 172,200 | 1,544,606 |
| 3,712,209 | ||
| Netherlands — 2.10% | ||
| Flow Traders Ltd. 144A(a)(b)(c) | 36,167 | 1,177,829 |
| IMCD N.V.(a) | 20,707 | 1,934,651 |
| 3,112,480 | ||
| Philippines — 1.16% | ||
| Philippine Seven Corp(a) | 1,139,000 | 666,930 |
| Puregold Price Club, Inc. | 1,730,200 | 1,051,276 |
| 1,718,206 | ||
| Poland — 1.90% | ||
| Auto Partner SA | 268,283 | 1,424,137 |
| Inter Cars SA | 7,794 | 1,390,806 |
| 2,814,943 | ||
| Singapore — 0.89% | ||
| Riverstone Holdings Ltd. | 2,186,375 | 1,314,712 |
| South Korea — 0.79% | ||
| iFamilySC Co Ltd | 112,828 | 1,170,759 |
| Sweden — 0.65% | ||
| Sdiptech AB(a) | 50,359 | 965,000 |
| Taiwan — 2.29% | ||
| Gem Services, Inc.(a) | 372,000 | 923,024 |
| Sinbon Electronics Co., Ltd.(a) | 183,000 | 1,352,359 |
| Sporton International, Inc.(a) | 201,000 | 1,113,239 |
| 3,388,622 | ||
| United Arab Emirates — 0.62% | ||
| Spinneys 1961 Holding PLC(a) | 2,164,780 | 919,553 |
| United Kingdom — 12.43% | ||
| Advanced Medical Solutions Group plc(a) | 341,975 | 1,008,410 |
| B & M European Value Retail SA | 1,728,095 | 4,170,024 |
| CVS Group plc | 241,194 | 4,310,277 |
| FRP Advisory Group PLC | 816,244 | 1,491,066 |
| Grandeur Peak Global Contrarian Fund | Portfolio of Investments |
| January 31, 2026 (Unaudited) (Continued) |
| Shares | Fair Value | |
| COMMON STOCKS — 99.37% (continued) | ||
| United Kingdom — 12.43% (continued) | ||
| Hill & Smith Holdings plc | 46,708 | $ 1,425,252 |
| Marex Group PLC | 35,383 | 1,396,921 |
| Pollen Street Group Ltd | 165,769 | 2,082,291 |
| Renew Holdings PLC(a) | 142,216 | 1,825,353 |
| Shawbrook Group plc(a) | 107,088 | 685,776 |
| 18,395,370 | ||
| United States — 21.53% | ||
| 4imprint Group PLC | 34,404 | 1,920,722 |
| Abacus Life Inc | 123,130 | 917,319 |
| Alamo Group, Inc. | 13,375 | 2,612,271 |
| AtriCure, Inc. (a) | 24,808 | 916,159 |
| Burford Capital Ltd | 156,709 | 1,518,510 |
| Crawford United Corporation(a) | 8,577 | 705,926 |
| Crocs, Inc.(a) | 9,664 | 811,003 |
| Dollar General Corporation | 33,696 | 4,833,017 |
| Gentex Corporation | 48,029 | 1,105,147 |
| Grocery Outlet Holding Corporation(a) | 80,850 | 770,501 |
| Haemonetics Corporation(a) | 16,581 | 1,105,289 |
| Littelfuse, Inc. | 6,827 | 2,210,310 |
| Neogen Corporation(a) | 183,237 | 1,872,682 |
| P10 Inc | 125,786 | 1,355,973 |
| Perella Weinberg Partners | 93,275 | 2,080,965 |
| Power Integrations, Inc. | 39,875 | 1,831,858 |
| Robert Half International, Inc. | 25,475 | 881,690 |
| RxSight, Inc.(a) | 168,955 | 1,468,219 |
| SPS Commerce, Inc.(a) | 16,373 | 1,461,454 |
| Upwork, Inc.(a) | 74,466 | 1,491,554 |
| 31,870,569 | ||
| Vietnam — 1.92% | ||
| Asia Commercial Bank JSC | 1,521,550 | 1,416,626 |
| Vietnam Technological & Comm Joint-stock Bank | 1,033,600 | 1,433,504 |
| 2,850,130 | ||
| Total Common Stocks (Cost $123,477,910) |
147,138,132 | |
| Total Common Stocks/ Investments — 99.37% | ||
| (Cost $123,477,910) |
147,138,132 | |
| Other Assets in Excess of Liabilities — 0.63% |
933,631 | |
| NET ASSETS — 100.00% |
$ 148,071,763 | |
| (a) | Non-income producing security. |
| (b) | Security was purchased pursuant to Regulation S under the Securities Act of 1933, which exempts securities offered and sold outside of the United States from registration. Such security cannot be sold in the United States without either an effective registration statement filed pursuant to the Securities Act of 1933, or pursuant to an exemption from registration. As of January 31, 2026, these securities had a total aggregate market value of $7,791,124 representing 5.26% of net assets. |
| (c) | Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in the ordinary course of business in transactions exempt from registration, normally to qualified institutional buyers. As of January 31, 2026, these securities had a total aggregate market value of $5,955,479, representing 4.02% of net assets. |