| Number of Shares | Value | |
| COMMON STOCKS — 99.5% | ||
| ARGENTINA — 4.6% | ||
| 42,555 | YPF S.A. - ADR * | $2,235,840 |
| CANADA — 3.9% | ||
| 16,307 | Shopify, Inc. * | 1,909,753 |
| CHINA — 3.0% | ||
| 24,700 | Contemporary Amperex Technology Co., Ltd. - Class A | 1,448,020 |
| GERMANY — 8.4% | ||
| 46,484 | Commerzbank A.G. | 2,027,329 |
| 6,370 | Siemens A.G. | 2,087,084 |
| 4,114,413 | ||
| IRELAND — 2.1% | ||
| 11,248 | Kingspan Group PLC | 1,045,419 |
| JAPAN — 8.9% | ||
| 87,890 | Fujikura Ltd. | 2,230,328 |
| 96,630 | Mitsubishi UFJ Financial Group, Inc. | 2,158,376 |
| 4,388,704 | ||
| MEXICO — 4.4% | ||
| 178,615 | Grupo Mexico S.A.B. de C.V. | 2,142,204 |
| NETHERLANDS — 11.6% | ||
| 1,620 | Argenx S.E. * | 1,387,510 |
| 8,300 | BE Semiconductor Industries N.V. | 1,897,457 |
| 12,639 | Nebius Group N.V. * | 2,406,592 |
| 5,691,559 | ||
| PHILIPPINES — 4.3% | ||
| 135,230 | International Container Terminal Services, Inc. | 2,123,591 |
| SINGAPORE — 3.9% | ||
| 17,940 | Sea Ltd. - ADR * | 1,914,916 |
| SOUTH KOREA — 7.9% | ||
| 3,400 | SK hynix, Inc. | 3,861,229 |
| SWEDEN — 2.4% | ||
| 2,357 | Spotify Technology S.A. * | 1,178,359 |
| SWITZERLAND — 7.1% | ||
| 40,900 | UBS Group A.G. | 2,161,746 |
| 1,715 | Zurich Insurance Group A.G. | 1,306,283 |
| 3,468,029 | ||
| TAIWAN — 16.5% | ||
| 45,390 | Accton Technology Corp. | 2,942,043 |
| 14,870 | Elite Material Co., Ltd. | 2,134,629 |
| Number of Shares | Value | |
| COMMON STOCKS (Continued) | ||
| TAIWAN (Continued) | ||
| 40,610 | Taiwan Semiconductor Manufacturing Co., Ltd. | $3,003,730 |
| 8,080,402 | ||
| UNITED KINGDOM — 2.1% | ||
| 22,554 | Shell PLC | 1,032,304 |
| UNITED STATES — 4.2% | ||
| 43,080 | Brookfield Asset Management Ltd. - Class A | 2,083,783 |
| URUGUAY — 4.2% | ||
| 1,101 | MercadoLibre, Inc. * | 2,067,623 |
| Total Common Stocks | ||
| (Cost $46,969,944) | 48,786,148 |
| Principal Amount | ||
| SHORT-TERM INVESTMENTS — 0.9% | ||
| $450,523 | MSILF Treasury Port - Advisory, 3.24%1 | 450,523 |
| Total Short-Term Investments | ||
| (Cost $450,523) | 450,523 | |
| TOTAL INVESTMENTS — 100.4% | ||
| (Cost $47,420,467) | 49,236,671 | |
| Liabilities in Excess of Other Assets — (0.4)% | (218,673) | |
| TOTAL NET ASSETS — 100.0% | $49,017,998 |
| ADR – American Depository Receipt |
| PLC – Public Limited Company |
| *Non-income producing security. |
| 1The rate is the annualized seven-day yield at period end. |