The Pre-IPO and Growth Fund

Consolidated Schedule of Investments

June 30, 2026 (Unaudited)

Investments — 91.3%		Footnotes		Shares		Fair Value
Common Stocks — 12.9%
Communications — 0.7%
Alphabet, Inc. - Class A				1,200		$428,844
GoDaddy, Inc.		*		4,900		415,912
Meta Platforms, Inc. - Class A				600		337,974
Spotify Technology S.A.		*		360		165,287
Total Communications						1,348,017
Consumer Discretionary — 0.2%
Amazon.com, Inc.		*		1,600		381,344
Energy — 0.4%
First Solar, Inc.		*		1,800		424,728
Vestas Wind Systems A/S				12,617		356,039
Total Energy						780,767
Financials — 0.5%
GPGI, Inc.				29,500		467,575
S&P Global, Inc.				160		65,161
Visa, Inc. - Class A				1,120		384,261
Total Financials						916,997
Health Care — 2.8%
Alkermes PLC		*		4,900		256,735
AstraZeneca PLC				1,100		208,582
Axsome Therapeutics, Inc.		*		700		171,339
Charles River Laboratories International, Inc.		*		800		181,432
Cogent Biosciences, Inc.		*		4,700		181,890
Cytokinetics, Inc.		*		3,200		272,608
Dianthus Therapeutics, Inc.		*		2,000		194,960
Eli Lilly & Co.				200		239,886
EssilorLuxottica S.A.				765		143,394
GE HealthCare Technologies, Inc.				2,400		153,624
Guardant Health, Inc.		*		2,300		345,069
ICON PLC		*		1,800		312,678
Indivior Pharmaceuticals, Inc.		*		3,400		139,502
Intuitive Surgical, Inc.		*		440		174,979
Lantheus Holdings, Inc.		*		2,100		232,974
Lonza Group A.G.				274		185,086
Mirum Pharmaceuticals, Inc.		*		2,100		245,847
Repligen Corp.		*		1,400		191,016
Revolution Medicines, Inc.		*		1,800		337,104
Roivant Sciences Ltd.		*		3,000		106,170
Royalty Pharma PLC - Class A				3,600		201,852
Spyre Therapeutics, Inc.		*		2,100		186,438
Stryker Corp.				520		163,717
Tango Therapeutics, Inc.		*		4,300		134,418

The Pre-IPO and Growth Fund

Consolidated Schedule of Investments - Continued

June 30, 2026 (Unaudited)

Investments — 91.3%		Footnotes		Shares		Fair Value
Common Stocks (Continued)
Health Care (Continued)
Thermo Fisher Scientific, Inc.				240		$120,326
Total Health Care						5,081,626
Industrials — 2.4%
Alstom S.A.		*		18,242		317,130
Amphenol Corp. - Class A				2,900		511,328
Bloom Energy Corp.		*		1,800		544,860
CSX Corp.				8,600		408,758
Honeywell Aerospace, Inc.		*		800		176,864
Honeywell International, Inc.				800		179,120
Legrand S.A.				2,523		425,785
nVent Electric PLC				2,800		474,908
Siemens Energy A.G.				1,961		371,496
SPIE S.A.				6,790		391,015
Vertiv Holdings Co. - Class A				600		200,892
Waste Management, Inc.				1,500		334,320
Total Industrials						4,336,476
Materials — 0.7%
Air Liquide S.A.				1,900		376,179
Element Solutions, Inc.				6,500		310,375
Linde PLC				680		352,879
Sherwin-Williams Co.				920		316,775
Total Materials						1,356,208
Technology — 4.9%
Apple, Inc.				1,300		376,168
Applied Materials, Inc.				700		506,100
ASML Holding N.V.				130		255,693
Astera Labs, Inc.		*		2,400		1,159,248
Broadcom, Inc.				280		105,770
Ciena Corp.		*		800		392,448
Coherent Corp.		*		300		118,341
CoreWeave, Inc. - Class A		*		1,600		159,264
Credo Technology Group Holding Ltd.		*		1,100		299,145
Intel Corp.		*		4,971		694,101
Lam Research Corp.				900		389,997
Marvell Technology, Inc.				1,400		417,046
Micron Technology, Inc.				900		1,038,861
Microsoft Corp.				920		343,178
NVIDIA Corp.				2,000		400,180
Palo Alto Networks, Inc.		*		1,600		545,632
Semtech Corp.		*		1,100		178,035
Shopify, Inc.		*		700		79,926
Snowflake, Inc.		*		700		178,150
Synaptics, Inc.		*		2,500		310,575

The Pre-IPO and Growth Fund

Consolidated Schedule of Investments - Continued

June 30, 2026 (Unaudited)

Investments — 91.3%		Footnotes		Shares		Fair Value
Common Stocks (Continued)
Technology (Continued)
Teradyne, Inc.				400		$193,536
Twilio, Inc. - Class A		*		1,500		309,495
Unity Software, Inc.		*		6,100		174,338
Western Digital Corp.				600		383,232
Total Technology						9,008,459
Utilities — 0.3%
SSE PLC				10,944		353,622
Xcel Energy, Inc.				1,200		96,360
Total Utilities						449,982
Total Common Stocks
(Cost $17,816,952)						23,659,876

    

Investments — 91.3%		Footnotes		Acquisition Date		Cost		Fair Value
Private Equity Funds^ — 1.0%
Technology — 1.0%
Goanna Global Tech Leaders L.P.		*,1,2		7/9/2025		$750,000		$884,312
Harbert Crossover Fund L.P. Series 4		*,1,2		3/13/2026		1,000,000		966,237
Total Technology								1,850,549
Total Private Equity Funds
(Cost $1,750,000)								1,850,549
Special Purpose Vehicles^,† — 77.4%
Advanced Manufacturing — 1.1%
Washington Harbour Foundry LLC - Class B		*,1,2		3/23/2026		2,105,000		2,005,000
Aerospace/Defense — 6.9%
Atreides Special Circumstances Fund LLC Series U		*,1,2,3		10/9/2025		1,002,381		3,708,447
Atreides Special Circumstances Fund LLC Series V		*,1,2,4		12/9/2025		4,513,125		7,010,956
KHK Growth V Holding Ltd. - Class B		*,1,2		2/5/2026		2,020,000		2,000,000
Total Aerospace/Defense								12,719,403
AI Model — 10.6%
IPPE Co. Invest Horizon DE L.P.		*,1,2,3		8/25/2025		3,262,187		13,593,003
IPPE DE Velocity L.P.		*,1,2,3		9/25/2025		3,713,875		5,799,033
Total AI Model								19,392,036
Commercial Banks, Non-US — 3.9%
Target Global Selected Opportunities L.P.		*,1,2		3/23/2026		1,533,066		2,123,294
Target Global Selected Opportunities LLC - Series Space		*,1,2		12/29/2025		2,568,783		3,551,416
The Goldweighers Field L.P.		*,1,2,3		7/28/2025		907,500		1,414,991
Total Commercial Banks, Non-US								7,089,701

The Pre-IPO and Growth Fund

Consolidated Schedule of Investments - Continued

June 30, 2026 (Unaudited)

Investments — 91.3%		Footnotes		Acquisition Date		Cost		Fair Value
Special Purpose Vehicles^,† (Continued)
Computer Software — 10.9%
Atreides Special Circumstances Fund LLC Series Y		*,1,2,3		6/25/2026		$7,000,000		$7,000,000
Goanna Capital 25E LLC		*,1,2,3		10/24/2025		3,580,500		4,211,663
IPPE Co. Invest Databricks DE L.P.		*,1,2,3		4/30/2025		4,243,031		8,867,906
Total Computer Software								20,079,569
E-Commerce/Services — 1.3%
Loft Holdings Ltd.		#,*,2,3		12/30/2025		2,313,800		2,313,800
Electronic Compo-Semicon — 2.0%
Atreides Special Circumstances Fund LLC Series X		*,1,2		3/27/2026		3,600,000		3,600,000
Electronic Forms — 3.3%
Goanna Capital 25R LLC		*,1,2		7/11/2025		6,060,000		6,060,000
Enterprise Software and Services — 2.7%
Goanna Capital 25Y LLC		*,1,2,3		9/25/2025		5,062,500		5,062,500
Medical Information Systems — 3.1%
Goanna Capital 25V LLC		*,1,2,3		11/17/2025		2,032,000		3,708,871
Goanna Capital 26Q LLC		*,1,2		6/10/2026		2,020,000		2,000,000
Total Medical Information Systems								5,708,871
Networking Products — 6.5%
APOF5 L.P.		*,1,2		6/26/2026		2,500,000		2,500,000
Atreides Lookfar Fund LLC		*,1,2,3		6/22/2026		7,500,000		7,500,000
Atreides Special Circumstances Fund LLC Series T		*,1,2,3		8/27/2025		510,000		2,040,031
Total Networking Products								12,040,031
Retail-Automobile — 0.6%
Flight Deck Onshore Fund L.P.		*,1,2,3		12/19/2025		1,055,000		1,056,127
Semiconductor Equipment — 24.2%
Atreides Special Circumstances Fund LLC Series S		*,1,2,3		8/22/2025		8,013,408		44,448,543
Technology — 0.3%
KHK Ventures II Fund L.P.		*,1,2,5,6		6/18/2026		500,000		500,000
Total Special Purpose Vehicles
(Cost $77,616,156)								142,075,581
Total Investments
(Cost $97,183,108)								167,586,006
Other assets in excess of liabilities — 8.7%								15,971,653
Total Net Assets — 100.0%								$183,557,659

    

The Pre-IPO and Growth Fund

Consolidated Schedule of Investments - Continued

June 30, 2026 (Unaudited)

^All investments were illiquid and did not issue shares, except where specifically noted. Redemptions or withdrawals were generally not permitted except at the discretion of the respective general partner, manager, or advisor. The investments were not traded on active markets, and liquidity, if any, could only be achieved through the sale, public offering, or other conversion event of the underlying investments, which may not be available. Accordingly, no stated redemption notice period was applicable, and no remaining lock-up period existed.

†Special Purpose Vehicles (“SPVs”) are private investments vehicles formed to invest in a particular portfolio company that rely on an exemption from the Investment Company Act pursuant to section 3(c)(1) or section 3(c)(7).

#The value was determined by the Valuation Designee using significant unobservable inputs. This is reported as a Level 3 security in the Fair Value Hierarchy.

*Investment is non-income producing.

1Investment valued using net asset value, or its equivalent, as a practical expedient in accordance with ASC 820 and not included in the fair value hierarchy.

2Restricted Security. Investments generally issued in private placement transactions and as such generally restricted as to resale. Each investment may have been purchased on various dates and for different amounts. The date of the first purchase is reflected under Acquisition Date as shown in the Schedule of Investments. Total fair value of restricted investments as of June 30, 2026 was $143,926,130, or 78.4% of net assets.

3The special purpose vehicle investment is held through Co-Investment Series of ABS Investment Fund LLC, a related party entity. ABS Investment Management LLC serves as Managing Member of ABS Investment Fund LLC.

4A portion of the special purpose vehicle investment is held through Co-Investment Series of ABS Investment Fund LLC, a related party entity. ABS Investment Management LLC serves as Managing Member of ABS Investment Fund LLC.

5All or a portion of this security is held through HMP Ltd.

6Investment has been committed to but has not been fully funded by the Fund. The remaining unfunded commitment was $500,000 as of June 30, 2026.