NAA MID GROWTH FUND
SCHEDULE OF INVESTMENTS (Unaudited)
June 30, 2026
 
Shares             Fair Value
    COMMON STOCKS — 98.5%      
    Communications - 2.7%      
8,137   EchoStar Corporation, Class A(a)       $ 825,905
1,646   Expedia Group, Inc.         421,178
2,068   Fox Corporation, Class A         107,867
9,920   New York Times Company (The), Class A         694,202
             

2,049,152

    Consumer Discretionary - 6.6%      
1,074   Abercrombie & Fitch Company, Class A(a)         96,671
3,547   Boyd Gaming Corporation         313,307
2,459   Burlington Stores, Inc.(a)         779,011
10,446   Chewy, Inc., Class A(a)         205,264
4,195   Churchill Downs, Inc.         376,040
1,358   Crocs, Inc.(a)         163,829
1,684   Grand Canyon Education, Inc.(a)         240,997
3,308   Planet Fitness, Inc., Class A(a)         172,578
574   Ralph Lauren Corporation         230,409
10,624   Somnigroup International, Inc.         832,922
4,148   Texas Roadhouse, Inc.         801,518
941   TKO Group Holdings, Inc.         189,433
3,987   Travel + Leisure Company         304,726
1,812   Wingstop, Inc.         314,219
             

5,020,924

    Consumer Staples - 3.4%      
2,558   elf Beauty, Inc.(a)         189,292
3,531   Five Below, Inc.(a)         634,838
15,465   Hims & Hers Health, Inc.(a)         536,172
2,067   Ollie's Bargain Outlet Holdings, Inc.(a)         158,911
4,511   Philip Morris International, Inc.         816,085
2,612   Sprouts Farmers Market, Inc.(a)         220,923
             

2,556,221

    Energy - 3.5%      
4,801   DT Midstream, Inc.         704,499
1,630   First Solar, Inc.(a)         384,615
21,300   TechnipFMC plc         1,412,189
 
 

 

NAA MID GROWTH FUND
SCHEDULE OF INVESTMENTS (Unaudited) (Continued)
June 30, 2026
 
Shares             Fair Value
    COMMON STOCKS — 98.5% (Continued)      
    Energy - 3.5% (Continued)      
2,033   Weatherford International PLC       $ 165,690
             

2,666,993

    Financials - 6.8%      
6,555   Carlyle Group, Inc. (The)         276,031
2,057   Cullen/Frost Bankers, Inc.         317,848
4,374   East West Bancorp, Inc.         564,639
1,592   Evercore, Inc., Class A         543,572
1,407   Hamilton Lane, Inc., Class A         110,914
1,912   Houlihan Lokey, Inc.         256,457
7,118   Interactive Brokers Group, Inc., Class A         619,551
1,419   Kinsale Capital Group, Inc.         468,000
7,033   MGIC Investment Corporation         198,330
1,179   Primerica, Inc.         335,072
1,488   RenaissanceRe Holdings Ltd.         471,548
4,849   Ryan Specialty Holdings, Inc.         183,098
3,514   SEI Investments Company         308,213
7,106   SLM Corporation         184,330
5,542   Stifel Financial Corporation         386,665
             

5,224,268

    Health Care - 11.5%      
2,195   Amgen, Inc.         794,853
3,055   Dexcom, Inc.(a)         205,754
6,516   Encompass Health Corporation         658,637
3,699   Ensign Group, Inc. (The)         592,950
7,551   Globus Medical, Inc., Class A(a)         596,605
7,213   Halozyme Therapeutics, Inc.(a)         564,562
5,497   HealthEquity, Inc.(a)         496,489
2,784   Lantheus Holdings, Inc.(a)         308,857
1,417   Medpace Holdings, Inc.(a)         750,429
6,597   Neurocrine Biosciences, Inc.(a)         1,111,826
2,371   Penumbra, Inc.(a)         748,643
4,848   Tenet Healthcare Corporation(a)         906,964
1,851   United Therapeutics Corporation(a)         1,002,927
             

8,739,496

 
 

 

NAA MID GROWTH FUND
SCHEDULE OF INVESTMENTS (Unaudited) (Continued)
June 30, 2026
 
Shares             Fair Value
    COMMON STOCKS — 98.5% (Continued)      
    Industrials - 30.7%      
3,940   AECOM       $ 275,012
694   Allegion plc         97,500
8,163   ATI, Inc.(a)         1,608,927
1,259   Belden, Inc.         150,967
5,623   BWX Technologies, Inc.         1,094,517
2,879   Chart Industries, Inc.(a)         601,538
1,667   Clean Harbors, Inc.(a)         498,016
5,840   Cognex Corporation         422,933
597   Comfort Systems USA, Inc.         1,183,224
5,315   Core & Main, Inc., Class A(a)         256,449
1,772   Curtiss-Wright Corporation         1,342,751
5,039   Donaldson Company, Inc.         452,351
1,928   Dycom Industries, Inc.(a)         974,778
713   EMCOR Group, Inc.         591,704
8,678   Flowserve Corporation         643,560
2,033   General Dynamics Corporation         720,170
4,083   H&R Block, Inc.         155,481
5,039   ITT, Inc.         996,513
12,154   Kratos Defense & Security Solutions, Inc.(a)         605,998
4,212   MasTec, Inc.(a)         1,752,445
5,089   Mueller Industries, Inc.         625,591
6,490   Nextpower, Inc., Class A(a)         773,219
1,068   Novanta, Inc.(a)         173,272
9,952   nVent Electric PLC         1,687,958
9,088   RB Global, Inc.         1,058,298
3,281   SPX Technologies, Inc.(a)         804,403
16,649   Tetra Tech, Inc.         480,990
1,821   TopBuild Corporation(a)         645,599
541   United Rentals, Inc.         612,893
3,970   Vontier Corporation         115,130
1,721   Watts Water Technologies, Inc., Class A         673,686
3,284   Woodward, Inc.         1,397,145
             

23,473,018

 
 

 

NAA MID GROWTH FUND
SCHEDULE OF INVESTMENTS (Unaudited) (Continued)
June 30, 2026
 
Shares             Fair Value
    COMMON STOCKS — 98.5% (Continued)      
    Materials - 3.9%      
2,861   Carpenter Technology Corporation       $ 1,764,778
1,047   Eagle Materials, Inc.         235,575
7,194   Newmont Corporation         671,920
1,313   Simpson Manufacturing Company, Inc.         274,877
             

2,947,150

    Real Estate - 4.1%      
6,232   Equity LifeStyle Properties, Inc.         401,652
7,544   Gaming and Leisure Properties, Inc.         335,934
3,397   Lamar Advertising Company, Class A         529,864
10,576   Omega Healthcare Investors, Inc.         504,264
2,003   Simon Property Group, Inc.         447,971
3,771   Ventas, Inc.         334,865
7,560   WP Carey, Inc.         540,540
             

3,095,090

    Technology - 24.6%      
4,084   Amkor Technology, Inc.         352,163
1,499   Appfolio, Inc., A(a)         240,365
4,637   Ciena Corporation(a)         2,274,726
1,982   Cirrus Logic, Inc.(a)         294,386
5,547   Coherent Corp.(a)         2,188,126
1,740   CommVault Systems, Inc.(a)         246,610
2,012   Crowdstrike Holdings, Inc., Class A(a)         1,535,437
11,156   DocuSign, Inc.(a)         495,550
9,248   Doximity, Inc., Class A(a)         191,804
11,645   Dropbox, Inc., CLASS A(a)         319,888
20,225   Dynatrace, Inc.(a)         888,080
14,254   Everpure, Inc., Class A(a)         1,123,073
4,875   Guidewire Software, Inc.(a)         599,869
4,666   MACOM Technology Solutions Holdings, Inc.(a)         1,774,806
2,372   Manhattan Associates, Inc.(a)         330,301
3,455   MKS, Inc.         1,536,784
767   Morningstar, Inc.         119,667
10,116   Okta, Inc.(a)         1,380,328
1,691   Onto Innovation, Inc.(a)         639,959
 
 

 

NAA MID GROWTH FUND
SCHEDULE OF INVESTMENTS (Unaudited) (Continued)
June 30, 2026
 
Shares             Fair Value
    COMMON STOCKS — 98.5% (Continued)      
    Technology - 24.6% (Continued)      
2,797   Paylocity Holding Corporation(a)       $ 292,370
2,471   Qualys, Inc.(a)         339,738
8,111   Rambus, Inc.(a)         1,076,654
2,969   Shift4 Payments, Inc., Class A(a)         144,413
1,212   Silicon Laboratories, Inc.(a)         264,895
1,496   Workday, Inc., Class A(a)         183,140
             

18,833,132

    Utilities - 0.7%      
2,098   Constellation Energy Corporation         521,080
             
               
    TOTAL COMMON STOCKS (Cost $62,013,312)    

  75,126,524

               
    EXCHANGE-TRADED FUNDS — 1.1%      
    Equity - 1.1%      
3,668   iShares Russell Mid-Cap Growth ETF         537,031
2,545   iShares S&P Mid-Cap 400 Growth ETF         299,038
    TOTAL EXCHANGE-TRADED FUNDS (Cost $784,671)    

836,069

               
               
    TOTAL INVESTMENTS - 99.6% (Cost $62,797,983)     $ 75,962,593
    OTHER ASSETS IN EXCESS OF LIABILITIES- 0.4%    

318,788

    NET ASSETS - 100.0%        

$ 76,281,381

           
               
 

 

 

 

(a) Non-income producing security.

 

ETF – Exchange-Traded Fund

Ltd. – Limited Company

PLC – Public Limited Company