WINTON MANAGED FUTURES TREND FUND
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2026
 
Shares             Fair Value
    SHORT-TERM INVESTMENTS — 79.3%      
    MONEY MARKET FUNDS - 79.3%      
18,059,614   First American Government Obligations Fund, Class X, 3.57%(a),(c)       $ 18,059,614
    TOTAL SHORT-TERM INVESTMENTS (Cost $18,059,614)  

18,059,614

               
         
    TOTAL INVESTMENTS - 79.3% (Cost $18,059,614)     $ 18,059,614
    OTHER ASSETS IN EXCESS OF LIABILITIES- 20.7%    

4,701,473

    NET ASSETS - 100.0%        

$ 22,761,087

           
OPEN FUTURES CONTRACTS        
Number of Contracts   Open Long Futures Contracts     Expiration Notional Amount(b) Value and Unrealized Appreciation (Depreciation)
3   CBOT Corn Future(c)   07/15/2026 $ 70,238 $ (850)
3   CBOT Corn Future(c)   09/15/2026   70,537   (1,188)
6   CBOT Soybean Future(c)   07/15/2026   355,800   (8,125)
4   CBOT Soybean Future(c)   11/16/2026   231,500   1,612
4   CBOT Soybean Meal Future(c)   07/15/2026   125,720   (4,310)
12   CBOT Soybean Oil Future(c)   07/15/2026   495,936   23,580
6   CBOT Soybean Oil Future(c)   12/15/2026   235,080   8,592
4   CBOT Wheat Future(c)   07/15/2026   125,300   2,725
2   CBOT Wheat Future(c)   09/15/2026   63,825   2,000
31   CME Australian Dollar Currency Future   06/16/2026   2,133,575   (60,343)
8   CME British Pound Currency Future   06/16/2026   661,300   (7,778)
5   CME Canadian Dollar Currency Future   06/17/2026   360,000   (8,610)
1   CME Feeder Cattle Future(c)   08/28/2026   182,213   463
6   CME Lean Hogs Future(c)   06/15/2026   252,120   (10,820)
9   CME Lean Hogs Future(c)   07/16/2026   386,010   (16,870)
7   CME Live Cattle Future(c)   07/01/2026   681,170   17,050
4   CME Live Cattle Future(c)   09/01/2026   383,680   11,780
13   CME Mexican Peso Currency Future   06/16/2026   359,840   (2,515)
1   CME Swiss Franc Currency Future   06/16/2026   157,475   (3,963)
1   COMEX Copper Future(c)   07/30/2026   141,638   2,575
1   COMEX Gold 100 Troy Ounces Future(c)   06/29/2026   467,860   (45,420)
1   Euronext Milling Wheat Future(c)   05/12/2026   11,833   (159)
1   Euronext Milling Wheat Future(c)   09/11/2026   12,454   (59)
2   Euronext Milling Wheat Future(c)   12/11/2026   25,717   419
1   Euronext Rapeseed Future(c)   05/01/2026   29,719   1,552
1   Euronext Rapeseed Future(c)   08/03/2026   29,357   2,187
1   FTSE 100 Index Future   06/22/2026   134,990   (1,431)
1   ICE Brent Crude Oil Future(c)   06/01/2026   96,170   1,780
1   ICE Brent Crude Oil Future(c)   07/01/2026   90,170   (1,150)
1   ICE Gas Oil Future(c)   05/13/2026   123,925   28,425
 
 

 

WINTON MANAGED FUTURES TREND FUND
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited) (Continued)
March 31, 2026
 
OPEN FUTURES CONTRACTS (Continued)        
Number of Contracts   Open Long Futures Contracts     Expiration Notional Amount(b) Value and Unrealized Appreciation (Depreciation)
1   ICE Gas Oil Future(c)   06/12/2026 $ 110,200 $ 13,675
1   ICE US MSCI Emerging Markets EM Index Futures   06/22/2026   72,730   (2,140)
4   KCBT Hard Red Winter Wheat Future(c)   07/15/2026   129,750   4,800
2   KCBT Hard Red Winter Wheat Future(c)   09/15/2026   66,175   1,350
1   LME Copper Future(c)   06/16/2026   308,338   (22,412)
2   LME Nickel Future(c)   06/16/2026   205,032   (7,086)
9   LME Primary Aluminum Future(c)   06/16/2026   783,481   81,745
2   LME Zinc Future(c)   06/16/2026   162,150   (3,801)
2   MDE Crude Palm Oil Future(c)   06/16/2026   59,620   3,229
1   MDE Crude Palm Oil Future(c)   07/16/2026   29,810   1,758
4   MIAX Futures Onyx Hard Red Spring Wheat Futures(c)   05/15/2026   131,699   3,599
2   MIAX Futures Onyx Hard Red Spring Wheat Futures(c)   07/15/2026   67,275   1,937
1   Montreal Exchange S&P/TSX 60 Index Future   06/22/2026   274,231   (983)
1   NYMEX Light Sweet Crude Oil Future(c)   05/20/2026   93,160   18,430
1   NYMEX Light Sweet Crude Oil Future(c)   06/23/2026   86,530   15,280
1   NYMEX NY Harbor ULSD Futures(c)   06/01/2026   157,118   2,932
1   NYMEX NY Harbor ULSD Futures(c)   07/01/2026   145,051   8,379
1   NYMEX Platinum Future(c)   07/30/2026   98,510   4,570
2   NYMEX Reformulated Gasoline Blendstock for Oxygen Future(c)   06/01/2026   256,671   6,166
1   NYMEX Reformulated Gasoline Blendstock for Oxygen Future(c)   07/01/2026   122,056   1,835
1   SGX Asiaclear TSI Iron Ore CFR China 62% FE Fines Future(c)   05/01/2026   10,659   (201)
13   SGX Asiaclear TSI Iron Ore CFR China 62% FE Fines Future(c)   06/01/2026   137,124   (1,161)
11   SGX Asiaclear TSI Iron Ore CFR China 62% FE Fines Future(c)   07/01/2026   115,027   (1,148)
5   SGX Asiaclear TSI Iron Ore CFR China 62% FE Fines Future(c)   08/03/2026   51,890   (400)
1   SGX FTSE Taiwan Index Futures   04/30/2026   103,320   (5,658)
3   SGX MSCI Singapore Index Future   04/30/2026   101,871   56
1   TSE TOPIX (Tokyo Price Index) Future   06/12/2026   220,776   (7,418)
3   WCE Canola Future(c)   05/15/2026   31,557   558
1   WCE Canola Future(c)   07/15/2026   10,702   211
    TOTAL LONG FUTURES CONTRACTS  

$ 49,251

         
           
OPEN FUTURES CONTRACTS        
Number of Contracts   Open Short Futures Contracts     Expiration Notional Amount(b) Value and Unrealized Appreciation (Depreciation)
5   3 Month Euro Euribor Future   12/15/2026 $ 1,404,011 $ 3,403
6   3 Month Euro Euribor Future   09/14/2027   1,685,680   2,432
5   3 Month Euro Euribor Future   06/20/2028   1,405,528   1,239
6   3 Month Euro Euribor Future   06/15/2027   1,684,639   3,111
2   3 Month Euro Euribor Future   03/20/2029   561,864   388
6   3 Month Euro Euribor Future   03/14/2028   1,686,807   1,806
6   3 Month Euro Euribor Future   03/16/2027   1,684,293   3,741
6   3 Month Euro Euribor Future   12/14/2027   1,686,633   1,725
4   3 Month Euro Euribor Future   12/19/2028   1,124,018   763
4   3 Month Euro Euribor Future   09/19/2028   1,124,249   729
3   3-Month CORRA Futures   09/16/2026   526,231   (338)
4   3-Month CORRA Futures   12/16/2026   700,204   (1,064)
 
 

 

WINTON MANAGED FUTURES TREND FUND
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited) (Continued)
March 31, 2026
 
OPEN FUTURES CONTRACTS (Continued)        
Number of Contracts   Open Short Futures Contracts     Expiration Notional Amount(b) Value and Unrealized Appreciation (Depreciation)
3   Carbon Emissions Future(c)   12/15/2026 $ 251,422 $ (4,668)
12   CBOT 10 Year US Treasury Note Future   06/22/2026   1,332,563   (5,469)
35   CBOT 2 Year US Treasury Note Future   07/01/2026   7,260,585   20,299
21   CBOT 5 Year US Treasury Note Future   07/01/2026   2,271,773   (3,531)
1   CBOT Rough Rice Future(c)   05/15/2026   22,750   290
5   CBOT US Treasury Bond Futures   06/22/2026   569,375   (4,344)
1   CME E-mini Russell 2000 Index Futures   06/22/2026   125,610   1,190
1   CME E-Mini Standard & Poor's 500 Index Future   06/22/2026   328,537   2,775
12   CME Euro Foreign Exchange Currency Future   06/16/2026   1,737,825   (3,375)
45   CME Japanese Yen Currency Future   06/16/2026   3,562,875   15,224
10   CME New Zealand Dollar Currency Future   06/16/2026   575,300   8,745
3   Cocoa Future(c)   09/16/2026   100,656   (10,669)
5   Cocoa Future(c)   07/17/2026   166,239   (11,658)
22   Eurex 10 Year Euro BUND Future   06/09/2026   3,188,373   18,769
31   Eurex 2 Year Euro SCHATZ Future   06/09/2026   3,789,008   21,947
6   Eurex 30 Year Euro BUXL Future   06/09/2026   764,632   2,907
15   Eurex 5 Year Euro BOBL Future   06/09/2026   2,001,214   11,473
2   Eurex EURO STOXX 50 Future   06/22/2026   127,023   169
2   Euro-BTP Italian Bond Futures   06/09/2026   268,793   (1,992)
2   Euronext CAC 40 Index Future   04/20/2026   180,883   2,793
3   EUX Short term Euro-BTP Futures   06/09/2026   367,025   (460)
4   French Government Bond Futures   06/09/2026   548,729   84
3   HKG Hang Seng China Enterprises Index Future   04/30/2026   159,872   515
1   HKG Hang Seng Index Future   04/30/2026   157,857   (881)
2   IFSC NIFTY 50 Index Futures   04/29/2026   89,926   3,714
12   LME Lead Future(c)   06/16/2026   569,064   21,061
3   Long Gilt Future   06/29/2026   348,585   2,425
3   Montreal Exchange 10 Year Canadian Bond Future   06/22/2026   258,758   (1,399)
1   NYBOT CSC C Coffee Future(c)   09/21/2026   104,288   1,012
2   NYBOT CSC Cocoa Future(c)   09/16/2026   68,340   1,510
3   NYBOT CSC Cocoa Future(c)   07/17/2026   101,010   1,850
3   NYBOT CSC Number 11 World Sugar Future(c)   07/01/2026   52,685   (1,008)
4   NYBOT CSC Number 11 World Sugar Future(c)   10/01/2026   71,904   (1,658)
2   NYBOT CTN Frozen Concentrated Orange Juice A Future(c)   05/11/2026   57,000   (5,482)
7   NYBOT CTN Number 2 Cotton Future(c)   07/10/2026   252,455   (10,345)
4   NYBOT CTN Number 2 Cotton Future(c)   12/09/2026   148,680   (9,750)
8   NYMEX Henry Hub Natural Gas Futures(c)   05/28/2026   240,480   13,570
6   NYMEX Henry Hub Natural Gas Futures(c)   06/29/2026   193,980   8,850
9   Robusta Coffee Future 10-Tonne(c)   07/28/2026   306,450   9,571
5   Robusta Coffee Future 10-Tonne(c)   09/25/2026   167,000   6,790
24   SFE 10 Year Australian Bond Future   06/16/2026   1,784,274   7,927
74   SFE 3 Year Australian Bond Future   06/16/2026   5,292,237   17,737
8   SFE 90 Day Australian Bank Accepted Bills Future   12/11/2026   5,454,904   5,864
19   SFE 90 Day Australian Bank Accepted Bills Future   09/11/2026   12,957,608   12,540
24   SFE 90 Day Australian Bank Accepted Bills Future   06/12/2026   16,377,485   11,248
8   SFE 90 Day Australian Bank Accepted Bills Future   03/12/2027   5,454,904   6,293
2   SFE S&P ASX Share Price Index 200 Future   06/22/2026   293,677   1,683
3   SGX FTSE China A50 Futures   04/30/2026   43,608   (264)
               
 
 

 

WINTON MANAGED FUTURES TREND FUND
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited) (Continued)
March 31, 2026
 
OPEN FUTURES CONTRACTS (Continued)        
Number of Contracts   Open Short Futures Contracts     Expiration Notional Amount(b) Value and Unrealized Appreciation (Depreciation)
1   Three Month SARON Index Futures   09/16/2026 $ 312,715 $ (109)
2   Three Month SONIA Index Future   12/20/2028   634,811   117
2   Three Month SONIA Index Future   06/16/2027   632,925   2,732
2   Three Month SONIA Index Future   06/21/2028   634,579   970
2   Three Month SONIA Index Future   09/15/2027   633,289   2,545
2   Three Month SONIA Index Future   09/20/2028   634,745   1,018
2   Three Month SONIA Index Future   12/15/2027   633,884   1,960
2   Three Month SONIA Index Future   03/17/2027   632,925   3,081
2   Three Month SONIA Index Future   03/15/2028   634,381   1,489
2   Three Month SONIA Index Future   03/21/2029   634,778   (16)
1   Three Month SONIA Index Futures   06/20/2029   317,372   51
12   Three-Month SOFR Future   12/15/2027   2,896,050   (862)
12   Three-Month SOFR Future   09/15/2027   2,893,350   (1,150)
11   Three-Month SOFR Future   06/21/2028   2,656,363   (350)
10   Three-Month SOFR Future   03/17/2027   2,409,125   (1,237)
12   Three-Month SOFR Future   03/15/2028   2,897,850   (775)
11   Three-Month SOFR Future   06/16/2027   2,650,588   (1,000)
5   Three-Month SOFR Futures   06/19/2029   1,205,813   75
10   Three-Month SOFR Futures   09/20/2028   2,414,125   (237)
9   Three-Month SOFR Futures   12/20/2028   2,171,925   75
8   Three-Month SOFR Futures   03/21/2029   1,930,000   (125)
4   TSE Japanese 10 Year Bond Futures   06/16/2026   3,284,167   39,208
7   Ultra U.S. Treasury Bond Futures   06/22/2026   815,938   (1,750)
4   White Sugar Future(c)   09/16/2026   91,080   (9,470)
5   White Sugar Future(c)   07/17/2026   113,000   (9,705)
    TOTAL SHORT FUTURES CONTRACTS  

$ 208,342

    TOTAL FUTURES CONTRACTS  

$ 257,593

         
           
               
 

 

 

 

   
(a) Rate disclosed is the seven day effective yield as of March 31, 2026.
(b) The amounts shown are the underlying reference notional amounts to stock exchange indices and equities upon which the fair value of the futures contracts held by the Fund are based. Notional values do not represent the current fair value of, and are not necessarily indicative of the future cash flows of the Fund's futures contracts. Further, the underlying price changes in relation to the variables specified by the notional values affects the fair value of these derivative financial instruments. The notional values as set forth within this schedule do not purport to represent economic value at risk to the Fund.
(c) All or a portion of this investment is a holding of the WMFTF Fund Limited.
 

 

 

 

 
 

 

WINTON MANAGED FUTURES TREND FUND  
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited) (Continued)  
March 31, 2026  
OPEN FORWARD FOREIGN CURRENCY CONTRACTS      
              Unrealized
Foreign Currency Settlement Date Counterparty Local Currency U.S. Dollar Value Appreciation/(Depreciation)
To Buy:        
Malaysian Ringgit 04/01/2026 UBS 4,000 $ 988 $ (9)
South African Rand 04/01/2026 UBS 1,000,000   59,109   895
Chinese Yuan Offshore 04/01/2026 UBS 500,000   72,593   298
Brazilian Real 04/02/2026 UBS 3,146,746   607,533   7,533
Chilean Peso 04/30/2026 UBS 91,011,001   98,092   (1,908)
Brazilian Real 05/05/2026 UBS 3,173,491   608,687   8,687
South African Rand 06/17/2026 UBS 5,000,000   293,830   (4,703)
Turkish Lira 06/17/2026 UBS 1,500,000   30,960   (102)
Chinese Yuan Offshore 06/17/2026 UBS 10,000,000   1,459,627   (948)
     

$ 3,231,419

$ 9,743

         
To Sell:        
Chinese Yuan Offshore 04/01/2026 UBS 500,000 $ 72,593 $ (258)
South African Rand 04/01/2026 UBS 1,000,000   59,109   (877)
Brazilian Real 04/02/2026 UBS 3,153,714   608,879   (8,879)
Euro 04/02/2026 UBS 20   23   –
Chilean Peso 04/30/2026 UBS 91,482,220   98,600   1,400
Indian Rupee 04/30/2026 UBS 102,710,560   1,092,103   7,895
Indonesia Rupiah 04/30/2026 UBS 5,105,340,000   300,745   (745)
Philippine Peso 04/30/2026 UBS 6,055,550   100,008   (8)
South Korean Won 04/30/2026 UBS 754,312,300   501,635   (1,635)
Taiwanese Dollar 04/30/2026 UBS 6,424,200   199,993   7
Chinese Yuan Offshore 06/17/2026 UBS 500,000   72,981   (303)
South African Rand 06/17/2026 UBS 3,000,000   176,298   (119)
     

$ 3,282,967

$ (3,522)

         
Total        

$ 6,221

           
 
               

 

 

 

         
   
         
             
                   
Foreign Currency Settlement Date Counterparty Local Currency Amount Purchased Sell Local Currency Amount Purchased Sell U.S. Dollar Market Value Buy U.S. Dollar Market Value Sell Unrealized Appreciation/(Depreciation)
To Buy: To Sell:            
Euro Swedish Krona 4/1/2026 UBS 91,656 1,000,000 105,936 (105,616) $ 320
Swedish Krona Euro 4/1/2026 UBS 1,000,000 91,636 105,616 (105,913)   (297)
Euro Norwegian Krone 4/7/2026 UBS 89,128 1,000,000 103,041 (103,299)   (258)
Norwegian Krone Euro 4/7/2026 UBS 1,000,000 89,119 103,299 (103,030)   269
                             
 
 

 

WINTON MANAGED FUTURES TREND FUND        
CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited) (Continued)  
March 31, 2026        
OPEN FORWARD FOREIGN CURRENCY CONTRACTS (Continued)          
Foreign Currency Settlement Date Counterparty Local Currency Amount Purchased Sell Local Currency Amount Purchased Sell U.S. Dollar Market Value Buy U.S. Dollar Market Value Sell Unrealized Appreciation/(Depreciation)
To Buy: (continued)              
Euro Polish Zloty 6/17/2026 UBS 116,499 500,000 135,122 (134,664) $ 458
Euro Swedish Krona 6/17/2026 UBS 462,259 5,000,000 536,157 (530,130)   6,027
Norwegian Krone Euro 6/17/2026 UBS 6,000,000 534,637 619,398 (620,104)   (706)
Polish Zloty Euro 6/17/2026 UBS 500,000 116,899 134,664 (135,586)   (922)
Swedish Krona Euro 6/17/2026 UBS 8,000,000 746,182 848,208 (865,464)   (17,256)
          17,259,542 9,078,473 $ 2,691,441 $ 2,703,806 $ (12,365)
               
Total              

$ (6,144)