WPG Partners Select Small Cap Value Fund
Schedule of Investments
May 31, 2026 (Unaudited)

COMMON STOCKS - 95.0%

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Value  
Communication Services - 2.6%

IAC, Inc. (a)

            137,953

    $        6,192,710






Consumer Discretionary - 3.0%

Holley, Inc. (a)

            940,487

             2,567,530
National Vision Holdings, Inc. (a)

            269,846

             4,519,920




             7,087,450






Consumer Staples - 1.6%

Yesway, Inc. - Class A (a)

            164,009

             3,690,202






Energy - 8.9%

BKV Corp. (a)

            306,255

             8,128,007
Liberty Energy, Inc.

            170,026

             4,974,961
National Energy Services Reunited Corp. (a)

            149,848

             3,648,799
Scorpio Tankers, Inc.

            53,933

             4,018,548




             20,770,315






Financials - 11.2%

American Integrity Insurance Group, Inc.

            192,600

             3,150,936
BGC Group, Inc. - Class A

            505,847

             5,286,101
Dime Community Bancshares, Inc.

            70,011

             2,619,812
First BanCorp

            190,010

             4,556,440
Northpointe Bancshares, Inc.

            164,518

             2,809,967
Peapack-Gladstone Financial Corp.

            60,934

             2,635,396
Perella Weinberg Partners

            297,457

             5,104,362




             26,163,014






Health Care - 17.4%

AMN Healthcare Services, Inc. (a)

            108,399

             3,140,319
CareDx, Inc. (a)

            258,752

             5,904,721
Cytek Biosciences, Inc. (a)

            945,719

             3,962,563
ICON PLC (a)

            72,627

             9,882,356
Innoviva, Inc. (a)

            262,005

             5,612,147
Mesa Laboratories, Inc.

            34,829

             3,553,254
Option Care Health, Inc. (a)

            116,518

             2,431,731
PTC Therapeutics, Inc. (a)

            86,438

             6,383,446




             40,870,537






Industrials - 16.5%

BrightView Holdings, Inc. (a)

            180,115

             2,226,221
Custom Truck One Source, Inc. (a)

            218,965

             2,097,685
Marten Transport Ltd.

            234,501

             4,042,797
Regal Rexnord Corp.

            37,516

             7,569,228
RXO, Inc. (a)

            267,997

             6,855,363
Star Bulk Carriers Corp.

            206,104

             5,616,334
TrueBlue, Inc. (a)

            327,972

             2,036,706
Tutor Perini Corp.

            64,573

             4,616,324
V2X, Inc. (a)

            43,065

             3,579,994




             38,640,652






Information Technology - 19.7%



8x8, Inc. (a)

            531,744

             1,100,710
Littelfuse, Inc.

            14,078

             6,572,596
NCR Voyix Corp. (a)

            277,988

             1,998,734
Onto Innovation, Inc. (a)

            19,326

             4,990,746
Pegasystems, Inc.

            99,216

             3,544,987
Silicon Motion Technology Corp. - ADR

            26,424

             7,316,013
Teradata Corp. (a)

            280,216

             9,541,355
Ultra Clean Holdings, Inc. (a)

            129,112

             11,048,114




             46,113,255






Materials - 12.7%

Celanese Corp.

            106,123

             5,638,315
Century Aluminum Co. (a)

            63,108

             4,163,235
Huntsman Corp.

            384,716

             5,905,391
Ingevity Corp. (a)

            48,607

             3,296,527
Kronos Worldwide, Inc.

            415,763

             2,989,336
Louisiana-Pacific Corp.

            28,096

             2,145,972
thyssenkrupp AG

            422,465

             5,766,361




             29,905,137






Real Estate - 1.4%

Broadstone Net Lease, Inc.

            162,842

             3,294,294
TOTAL COMMON STOCKS (Cost $173,796,940)

             222,727,566






TOTAL INVESTMENTS - 95.0% (Cost $173,796,940)

             222,727,566
Other Assets in Excess of Liabilities - 5.0%
0.04953
            11,606,389
TOTAL NET ASSETS - 100.0%




    $        234,333,955


Percentages are stated as a percent of net assets.




ADR - American Depositary Receipt
PLC – Public Liability Company
The Global Industry Classification Standard (“GICS®”) was developed by and/or is the exclusive property of MSCI, Inc. (“MSCI”) and Standard & Poor’s Financial Services LLC (“S&P”). GICS® is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services.
More narrow industries are utilized for compliance purposes, whereas broad sectors are utilized for reporting purposes.




(a)

Non-income producing security.






















Summary of Fair Value Disclosure as of May 31, 2026 (Unaudited)
 
WPG Partners Select Small Cap Value Fund has adopted fair value accounting standards which establish a definition of fair value and set out a hierarchy for measuring fair value. These standards require additional disclosures about the various inputs and valuation techniques used to develop the measurements of fair value, a discussion of changes in valuation techniques and related inputs during the period, and expanded disclosure of valuation levels for major security types. These inputs are summarized in the three broad levels listed below. The inputs or valuation methodology used for valuing securities are not an indication of the risk associated with investing in those securities.
Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access.
Level 2 - Observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates and similar data.
Level 3 - Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available, representing the Fund’s own assumptions about the assumptions a market participant would use in valuing the asset or liability, and based on the best information available.
The following is a summary of the fair valuation hierarchy of the Fund’s securities as of May 31, 2026:



Level 1

Level 2

Level 3

Total
Investments:







  Common Stocks
    $        216,961,205

    $        5,766,361

    $        –

    $        222,727,566
Total Investments
    $        216,961,205

    $        5,766,361

    $        –

    $        222,727,566

Refer to the Schedule of Investments for further disaggregation of investment categories.