| Grandeur Peak Global Explorer Fund | Portfolio of Investments |
| January 31, 2026 (Unaudited) |
| Shares | Fair Value | |
| COMMON STOCKS — 97.69% | ||
| Australia — 4.96% | ||
| HUB24 Ltd.(a) | 4,065 | $ 287,316 |
| Pinnacle Investment Management Group | 35,282 | 417,222 |
| 704,538 | ||
| Belgium — 2.67% | ||
| Melexis NV | 5,016 | 379,234 |
| China — 3.50% | ||
| Silergy Corp | 56,000 | 497,136 |
| France — 2.42% | ||
| Virbac S.A. | 825 | 343,913 |
| India — 4.99% | ||
| Cartrade Tech Ltd.(a) | 6,540 | 188,971 |
| PB Fintech Ltd(a) | 14,846 | 267,893 |
| Varun Beverages Ltd.(a) | 48,929 | 251,480 |
| 708,344 | ||
| Italy — 8.25% | ||
| Diasorin SPA | 3,413 | 292,161 |
| Interpump Group SpA | 6,837 | 396,338 |
| Moncler S.p.A. | 2,178 | 126,594 |
| Recordati SpA | 6,470 | 355,574 |
| 1,170,667 | ||
| Japan — 6.31% | ||
| Japan Elevator Service Holdings Company Ltd. | 35,200 | 369,714 |
| Maruwa Co Ltd/Aichi | 600 | 184,697 |
| Visional Inc(a) | 6,200 | 341,284 |
| 895,695 | ||
| Luxembourg — 2.19% | ||
| Eurofins Scientific S.E. | 3,839 | 310,234 |
| Mexico — 1.01% | ||
| BBB Foods Inc(a) | 4,100 | 143,049 |
| Netherlands — 2.06% | ||
| Redcare Pharmacy N.V. 144A(a)(b)(c) | 3,940 | 292,276 |
| Philippines — 2.30% | ||
| International Container Terminal Services, Inc.(a) | 29,930 | 326,121 |
| South Korea — 3.17% | ||
| HPSP Company Ltd. | 14,011 | 449,495 |
| Sweden — 4.76% | ||
| AddTech AB(a) | 11,310 | 369,210 |
| Vimian Group AB(a) | 102,026 | 305,801 |
| 675,011 | ||
| Switzerland — 1.50% | ||
| Ypsomed Holding AG(a) | 537 | 212,230 |
| Taiwan — 4.26% | ||
| Asia Vital Components Co., Ltd. | 7,000 | 323,448 |
| ASPEED Technology, Inc.(a) | 1,000 | 281,039 |
| 604,487 | ||
| Shares | Fair Value | |
| COMMON STOCKS — 97.69% (continued) | ||
| United Kingdom — 13.59% | ||
| Diploma plc | 8,609 | $ 626,700 |
| Games Workshop Group plc | 1,531 | 357,187 |
| Hill & Smith Holdings plc | 10,111 | 308,528 |
| Marex Group PLC | 9,112 | 359,742 |
| Rosebank Industries plc(a) | 57,725 | 275,667 |
| 1,927,824 | ||
| United States — 29.75% | ||
| 4imprint Group PLC | 2,628 | 146,717 |
| Crowdstrike Holdings, Inc., Class A(a) | 759 | 335,026 |
| Dexcom, Inc.(a) | 4,478 | 327,073 |
| Freshpet, Inc.(a) | 6,763 | 471,381 |
| ITT, Inc. | 2,077 | 378,637 |
| JFrog Ltd.(a) | 5,985 | 327,978 |
| LeMaitre Vascular, Inc. | 3,425 | 291,022 |
| Monolithic Power Systems, Inc. | 247 | 277,665 |
| Pattern Group, Inc.(a) | 31,532 | 435,772 |
| Pjt Partners, Inc., Class A | 1,964 | 339,831 |
| Power Integrations, Inc. | 6,333 | 290,938 |
| Primoris Services Corporation | 2,077 | 307,915 |
| Ryan Specialty Group Holdings, Inc. | 6,056 | 292,384 |
| 4,222,339 | ||
| Total Common Stocks (Cost $12,937,919) |
13,862,593 | |
| Total Common Stocks/ Investments — 97.69% | ||
| (Cost $12,937,919) |
13,862,593 | |
| Other Assets in Excess of Liabilities — 2.31% |
327,522 | |
| NET ASSETS — 100.00% |
$ 14,190,115 | |
| (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 $292,276, representing 2.06% 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 $292,276, representing 2.06% of net assets. |