Lisanti
Small
Cap
Growth
Fund
SCHEDULE
OF
INVESTMENTS
(Unaudited)
March
31,
2026
Shares
Security
Description
Value
Common
Stock
-
95.6%
Communication
Services
-
0.9%
10,415
Magnite,
Inc.
(a)
$
123,730
Consumer
Discretionary
-
9.0%
605
Boot
Barn
Holdings,
Inc.
(a)
88,548
1,695
Cava
Group,
Inc.
(a)
137,125
4,635
Figs,
Inc.
(a)
68,459
835
Five
Below,
Inc.
(a)
190,781
340
Installed
Building
Products,
Inc.
90,151
7,550
National
Vision
Holdings,
Inc.
(a)
195,545
1,270
Ollie's
Bargain
Outlet
Holdings,
Inc.
(a)
116,891
735
Patrick
Industries,
Inc.
81,636
1,055
Shake
Shack,
Inc.,
Class A
(a)
93,336
3,730
Universal
Technical
Institute,
Inc.
(a)
134,653
2,875
Warby
Parker,
Inc.,
Class A
(a)
60,576
1,257,701
Consumer
Staples
-
0.8%
1,865
Freshpet,
Inc.
(a)
109,960
Energy
-
8.2%
5,060
Matador
Resources
Co.
319,691
36,530
Patterson-UTI
Energy,
Inc.
395,620
9,045
ProPetro
Holding
Corp.
(a)
130,338
3,955
Solaris
Energy
Infrastructure,
Inc.,
Class A
223,497
840
Weatherford
International
PLC
79,447
1,148,593
Financials
-
1.8%
750
Enova
International,
Inc.
(a)
101,873
765
FirstCash
Holdings,
Inc.
143,820
245,693
Health-Care
-
22.5%
4,435
Alignment
Healthcare,
Inc.
(a)
78,145
1,770
Apogee
Therapeutics,
Inc.
(a)
148,981
4,620
Axogen,
Inc.
(a)
153,061
755
Axsome
Therapeutics,
Inc.
(a)
127,610
1,425
Bridgebio
Pharma,
Inc.
(a)
105,821
7,890
BrightSpring
Health
Services,
Inc.
(a)
336,193
345
Dianthus
Therapeutics,
Inc.
(a)
28,952
7,325
Guardian
Pharmacy
Services,
Inc.
(a)
275,860
1,880
Halozyme
Therapeutics,
Inc.
(a)
121,504
3,885
HeartFlow,
Inc.
(a)
94,522
1,465
Hinge
Health,
Inc.,
Class A
(a)
56,490
2,465
Ionis
Pharmaceuticals,
Inc.
(a)
185,097
1,990
KalVista
Pharmaceuticals,
Inc.
(a)
40,059
920
Kiniksa
Pharmaceuticals
International
PLC
(a)
44,298
Shares
Security
Description
Value
Health-Care
-
22.5%
(continued)
625
Krystal
Biotech,
Inc.
(a)
$
161,450
1,285
Ligand
Pharmaceuticals,
Inc.
(a)
256,550
1,480
Mirum
Pharmaceuticals,
Inc.
(a)
136,722
1,580
Palvella
Therapeutics,
Inc.
(a)
196,947
5,335
Tandem
Diabetes
Care,
Inc.
(a)
102,272
1,175
Tarsus
Pharmaceuticals,
Inc.
(a)
82,426
1,035
The
Ensign
Group,
Inc.
208,553
1,630
Travere
Therapeutics,
Inc.
(a)
48,427
5,835
Waystar
Holding
Corp.
(a)
140,682
3,130,622
Industrials
-
29.1%
2,120
Allient,
Inc.
125,271
11,370
Amprius
Technologies,
Inc.
(a)
191,698
355
Argan,
Inc.
193,351
1,715
Astronics
Corp.
(a)
114,442
1,390
CECO
Environmental
Corp.
(a)
82,816
1,350
Construction
Partners,
Inc.,
Class A
(a)
150,012
570
Dycom
Industries,
Inc.
(a)
193,128
155
ESCO
Technologies,
Inc.
43,612
3,125
Firefly
Aerospace,
Inc.
(a)
88,969
5,875
Healthcare
Services
Group,
Inc.
(a)
108,981
539
JBT
Marel
Corp.
68,922
2,575
Karman
Holdings,
Inc.
(a)
206,129
5,440
Knight-Swift
Transportation
Holdings,
Inc.
313,235
2,165
Kratos
Defense
&
Security
Solutions,
Inc.
(a)
152,654
765
MasTec,
Inc.
(a)
246,131
2,445
Mercury
Systems,
Inc.
(a)
178,265
1,275
Modine
Manufacturing
Co.
(a)
276,305
1,675
Nextpower,
Inc.,
Class A
(a)
201,921
7,180
Planet
Labs
PBC
(a)
200,681
130
Powell
Industries,
Inc.
70,341
515
RBC
Bearings,
Inc.
(a)
279,707
1,320
SiteOne
Landscape
Supply,
Inc.
(a)
175,705
605
Sterling
Infrastructure,
Inc.
(a)
246,398
765
VSE
Corp.
141,066
4,049,740
Information
Technology
-
22.0%
15,270
ADTRAN
Holdings,
Inc.
(a)
192,096
810
Advanced
Energy
Industries,
Inc.
261,395
1,130
Clear
Secure,
Inc.,
Class A
54,703
2,570
DigitalOcean
Holdings,
Inc.
(a)
220,455
415
Fabrinet
(a)
216,431
990
FormFactor,
Inc.
(a)
96,020
3,785
JFrog,
Ltd.
(a)
177,630
7,525
Klaviyo,
Inc.,
Class A
(a)
146,436
Lisanti
Small
Cap
Growth
Fund
SCHEDULE
OF
INVESTMENTS
(Unaudited)
March
31,
2026
The
following
is
a
summary
of
the
inputs
used
to
value
the
Fund's investments
as
of
March
31,
2026.
The
Fund
has
a
three-tier
fair
value
hierarchy.
The
basis
of
the
tiers
is
dependent
upon
the
various
“inputs”
used
to
determine
the
value
of
the
Fund’s
investments.
These
inputs
are
summarized
in
the
three
broad
levels
listed
below:
Level
1
–
quoted
prices
in
active
markets
for
identical
assets
Level
2
–
Prices
determined
using
significant
other
observable
inputs
(including
quoted
prices
for
similar
securities,
interest
rates,
prepayment
speeds,
credit
risk,
etc.).
Short-term
securities
with
maturities
of
sixty
days
or
less
are
valued
at
amortized
cost,
which
approximates
market
value,
and
are
categorized
as
Level
2
in
the
hierarchy.
Municipal
securities,
long-term
U.S.
government
obligations
and
corporate
debt
securities
are
valued
in
accordance
with
the
evaluated
price
supplied
by
the
pricing
service
and
generally
categorized
as
Level
2
in
the
hierarchy.
Other
securities
that
are
categorized
as
Level
2
in
the
hierarchy
include,
but
are
not
limited
to,
warrants
that
do
not
trade
on
an
exchange,
securities
valued
at
the
mean
between
the
last
reported
bid
and
ask
quotation
and
international
equity
securities
valued
by
an
independent
third
party
with
adjustments
for
changes
in
value
between
the
time
of
the
securities
respective
local
market
closes
and
the
close
of
the
U.S.
market.
Level
3
–
significant
unobservable
inputs
(including
the
Fund’s
own
assumptions
in
determining
the
fair
value
of
investments)
The
inputs
or
methodology
used
for
valuing
securities
are
not
necessarily
an
indication
of
the
risk
associated
with
investing
in
those
securities.
The
Level
1
value
displayed
in
this
table
is
Common
Stock
and
a
Money
Market
Fund.
Refer
to
this
Schedule
of
Investments
for
a
further
breakout
of
each
security
by
industry.
THE
PORTFOLIO
OF
INVESTMENTS
SHOULD
BE
READ
IN
CONJUNCTION
WITH
THE
FINANCIAL
STATEMENTS
AND
NOTES
TO
FINANCIAL
STATEMENTS
WHICH
ARE
INCLUDED
IN
THE
FUND’S
AUDITED
ANNUAL
REPORT
OR
SEMI-ANNUAL
REPORT.
THESE
REPORTS
INCLUDE
ADDITIONAL
INFORMATION
ABOUT
THE
FUND’S
SECURITY
VALUATION
POLICIES
AND
ABOUT
CERTAIN
SECURITY
TYPES
INVESTED
BY
THE
FUND.
Shares
Security
Description
Value
Information
Technology
-
22.0%
(continued)
1,985
Lattice
Semiconductor
Corp.
(a)
$
184,129
335
MACOM
Technology
Solutions
Holdings,
Inc.
(a)
74,393
690
MKS,
Inc.
158,569
3,600
nLight,
Inc.
(a)
205,272
680
Onto
Innovation,
Inc.
(a)
139,448
3,680
PDF
Solutions,
Inc.
(a)
120,373
1,030
Semtech
Corp.
(a)
79,197
1,140
Silicon
Motion
Technology
Corp.,
ADR
128,011
400
SiTime
Corp.
(a)
138,140
1,570
TTM
Technologies,
Inc.
(a)
152,949
3,035
Ultra
Clean
Holdings,
Inc.
(a)
188,716
2,135
Viavi
Solutions,
Inc.
(a)
71,053
3,825
Zeta
Global
Holdings
Corp.,
Class A
(a)
60,894
3,066,310
Materials
-
1.3%
465
Carpenter
Technology
Corp.
183,280
Total
Common
Stock
(Cost
$12,280,098)
13,315,629
Shares
Security
Description
Value
Money
Market
Fund
-
4.6%
637,630
First
American
Treasury
Obligations
Fund,
Class X,
3.60%
(b)
(Cost
$637,630)
637,630
Investments,
at
value
-
100.2%
(Cost
$12,917,728)
$
13,953,259
Other
Assets
&
Liabilities,
Net
-
(0.2)%
(26,023)
Net
Assets
-
100.0%
$
13,927,236
(a)
Non-income
producing
security.
(b)
Dividend
yield
changes
daily
to
reflect
current
market
conditions.
Rate
was
the
quoted
yield
as
of
March
31,
2026.
Valuation
Inputs
Investments
in
Securities
Level
1
-
Quoted
Prices
$
13,953,259
Level
2
-
Other
Significant
Observable
Inputs
–
Level
3
-
Significant
Unobservable
Inputs
–
Total
$
13,953,259