SEG Partners Long/Short Equity Fund
Schedule of Investments
July 31, 2026 (Unaudited)

COMMON STOCKS - 83.8%

Shares  

Value  
Aerospace & Defense - 4.8%

Moog, Inc. - Class A

            1,406

    $        548,129
TransDigm Group, Inc.

            5,517

             6,920,415




             7,468,544






Broadline Retail - 4.5%

Amazon.com, Inc. (a)

            25,583

             6,947,831






Capital Markets - 4.8%

Nasdaq, Inc.

            79,298

             7,469,079






Commercial Services & Supplies - 1.0%

Rollins, Inc.

            38,934

             1,478,324






Construction Materials - 5.9%

Martin Marietta Materials, Inc.

            17,246

             9,056,564






Containers & Packaging - 3.2%

Packaging Corp. of America

            20,346

             5,001,861






Diversified Consumer Services - 2.0%

Service Corp. International/US

            35,858

             3,090,601






Electronic Equipment, Instruments & Components - 4.8%

Amphenol Corp. - Class A

            37,137

             5,967,916
Teledyne Technologies, Inc. (a)

            2,283

             1,496,666




             7,464,582






Entertainment - 6.3%

Live Nation Entertainment, Inc. (a)

            55,789

             9,714,539






Financial Services - 0.4%

Corpay, Inc. (a)

            1,513

             578,132






Health Care Equipment & Supplies - 3.9%

STERIS PLC

            26,421

             6,034,556






Health Care Providers & Services - 6.8%

Labcorp Holdings, Inc.

            33,831

             10,460,545






Hotels, Restaurants & Leisure - 5.2%

Viking Holdings Ltd. (a)

            76,282

             7,960,027






Household Durables - 6.2%

Somnigroup International, Inc.

            147,178

             9,615,139






Insurance - 6.1%

Brown & Brown, Inc.

            46,956

             3,305,702
Markel Group, Inc. (a)

            3,229

             6,078,076




             9,383,778








Machinery - 4.2%

Middleby Corp. (a)

            4,452

             594,698
Midera Food Processing, Inc. (a)

            3,227

             154,735
Westinghouse Air Brake Technologies Corp.

            19,962

             5,806,147




             6,555,580






Professional Services - 0.5%

Verisk Analytics, Inc.

            3,749

             730,493






Semiconductors & Semiconductor Equipment - 3.4%

Entegris, Inc.

            44,524

             5,300,582






Software - 2.9%

Trimble, Inc. (a)

            79,405

             4,492,735






Specialty Retail - 4.4%

Dick's Sporting Goods, Inc.

            1,499

             293,669
Signet Jewelers Ltd.

            48,975

             4,549,778
Tractor Supply Co.

            17,055

             524,782
Williams-Sonoma, Inc.

            6,309

             1,442,616




             6,810,845






Trading Companies & Distributors - 2.5%

Core & Main, Inc. - Class A (a)

            87,029

             3,826,665
TOTAL COMMON STOCKS (Cost $112,939,198)

             129,441,002






PURCHASED OPTIONS - 4.1% (a)
Notional Amount  

Contracts  

Value  
Call Options - 3.9% (b)(c)




Alphabet, Inc.




Expiration: 08/21/2026; Exercise Price: $375.00
             3,031,525

            85

             39,313
Expiration: 01/21/2028; Exercise Price: $330.00
             7,560,980

            212

             1,829,560
Amazon.com, Inc.




Expiration: 08/21/2026; Exercise Price: $265.00
             2,634,326

            97

             120,037
Expiration: 12/15/2028; Exercise Price: $280.00
             9,695,406

            357

             2,588,250
Builders FirstSource, Inc., Expiration: 01/21/2028; Exercise Price: $100.00
             298,980

            45

             45,225
Cloudflare, Inc.




Expiration: 01/21/2028; Exercise Price: $210.00
             1,227,512

            44

             550,000
Expiration: 01/21/2028; Exercise Price: $220.00
             613,756

            22

             264,000
Fortune Brands Innovations, Inc., Expiration: 01/21/2028; Exercise Price: $55.00
             497,526

            101

             103,020
Microsoft Corp., Expiration: 08/21/2026; Exercise Price: $440.00
             1,951,824

            42

             127,260
On Holding AG, Expiration: 01/21/2028; Exercise Price: $45.00
             206,568

            57

             40,612
Polaris, Inc., Expiration: 01/15/2027; Exercise Price: $40.00
             583,596

            87

             240,555
VF Corp., Expiration: 01/15/2027; Exercise Price: $17.50
             1,294,528

            904

             78,648
Total Call Options




             6,026,480






Put Options - 0.2% (b)(c)




Iron Mountain, Inc., Expiration: 01/21/2028; Exercise Price: $50.00
             6,580,816

            538

             87,425
iShares Russell 2000 ETF




Expiration: 08/21/2026; Exercise Price: $284.00
             9,172,800

            315

             80,010
Expiration: 09/18/2026; Exercise Price: $280.00
             14,268,800

            490

             206,045
Total Put Options




             373,480
TOTAL PURCHASED OPTIONS (Cost $5,058,299)

             6,399,960






SHORT-TERM INVESTMENTS
MONEY MARKET FUNDS - 0.0% (d)
Shares  

Value  
Goldman Sachs Financial Square Funds - Treasury Instruments Fund - Institutional Class, 3.57% (e)

            4,420

             4,420
TOTAL MONEY MARKET FUNDS (Cost $4,420)

             4,420








TOTAL INVESTMENTS - 87.9% (Cost $118,001,917)

             135,845,382
Other Assets in Excess of Liabilities - 12.1%
0.12088
            18,678,593
TOTAL NET ASSETS - 100.0%




    $        154,523,975


Percentages are stated as a percent of net assets.




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.



(a)

Non-income producing security.
(b)

100 shares per contract.
(c)

Exchange-traded.
(d)

Represents less than 0.05% of net assets.
(e)

The rate shown represents the 7-day annualized yield as of July 31, 2026.





SEG Partners Long/Short Equity Fund
Schedule of Written Options
July 31, 2026 (Unaudited)

WRITTEN OPTIONS - (0.1)%
Notional Amount

Contracts

Value
Put Options - (0.1)%
iShares Russell 2000 ETF (a)(b)





Expiration: 08/21/2026; Exercise Price: $268.00
    $        (9,172,800)

(315)

    $        (18,742)
Expiration: 09/18/2026; Exercise Price: $264.00
             (14,268,800)

(490)

             (84,770)
TOTAL WRITTEN OPTIONS (Premiums received $131,317)




    $        (103,512)

Percentages are stated as a percent of net assets.



(a)

Exchange-traded.
(b)

100 shares per contract.


SEG Partners Long/Short Equity Fund
Schedule of Securities Sold Short
July 31, 2026 (Unaudited)

COMMON STOCKS - (44.7)%

Shares

Value
Aerospace & Defense - (0.6)%

Curtiss-Wright Corp.

(1,323)

    $        (957,852)





Air Freight & Logistics - (1.9)%

United Parcel Service, Inc. - Class B

(27,978)

             (2,915,867)





Automobiles - (1.6)%

Ferrari NV

(3,379)

             (1,330,887)
Tesla, Inc.

(3,807)

             (1,184,776)




             (2,515,663)





Beverages - (0.4)%

PepsiCo, Inc.

(4,231)

             (590,478)





Building Products - (2.1)%

A O Smith Corp.

(14,449)

             (868,819)
Carlisle Cos., Inc.

(3,523)

             (1,267,998)


Lennox International, Inc.

(1,818)

             (756,070)
Trex Co., Inc.

(8,334)

             (361,362)




             (3,254,249)





Capital Markets - (1.1)%

Interactive Brokers Group, Inc. - Class A

(5,400)

             (475,146)
T Rowe Price Group, Inc.

(11,018)

             (1,231,262)




             (1,706,408)





Commercial Services & Supplies - (1.2)%

Copart, Inc.

(64,353)

             (1,873,959)





Construction & Engineering - (1.7)%

Comfort Systems USA, Inc.

(823)

             (1,423,535)
Quanta Services, Inc.

(1,918)

             (1,279,996)




             (2,703,531)





Consumer Discretionary - (0.7)%

Five Below, Inc.

(4,957)

             (1,076,313)





Consumer Staples - (0.5)%

Costco Wholesale Corp.

(800)

             (761,512)





Consumer Staples Distribution & Retail - (1.2)%

BJ's Wholesale Club Holdings, Inc.

(7,936)

             (775,982)
Casey's General Stores, Inc.

(355)

             (309,205)
Walmart, Inc.

(6,444)

             (716,573)




             (1,801,760)





Diversified Telecommunication Services - (0.4)%

Space Exploration Technologies Corp. - Class A

(5,016)

             (543,584)





Entertainment - (0.6)%

TKO Group Holdings, Inc.

(5,420)

             (985,410)





Health Care Equipment & Supplies - (2.3)%

Dexcom, Inc.

(8,556)

             (713,998)
IDEXX Laboratories, Inc.

(2,044)

             (1,142,739)
Medline, Inc.

(16,337)

             (641,717)
ResMed, Inc.

(5,268)

             (1,111,443)




             (3,609,897)





Health Care Providers & Services - (1.5)%

DaVita, Inc.

(2,784)

             (668,410)
UnitedHealth Group, Inc.

(3,932)

             (1,629,421)




             (2,297,831)





Hotels, Restaurants & Leisure - (4.3)%

Airbnb, Inc. - Class A

(7,135)

             (1,081,095)
Carnival Corp. Ltd.

(34,669)

             (964,145)
Dutch Bros, Inc. - Class A

(13,296)

             (875,276)
Norwegian Cruise Line Holdings Ltd.

(13,648)

             (252,897)
Royal Caribbean Cruises Ltd.

(1,932)

             (614,956)
Starbucks Corp.

(22,576)

             (2,376,124)
Texas Roadhouse, Inc.

(2,406)

             (494,289)




             (6,658,782)







Industrials - (0.5)%

XPO, Inc.

(3,470)

             (697,366)





Insurance - (0.8)%

Arthur J Gallagher & Co.

(2,781)

             (693,637)
Selective Insurance Group, Inc.

(5,807)

             (550,446)




             (1,244,083)





Interactive Media & Services - (0.3)%

Meta Platforms, Inc. - Class A

(825)

             (459,286)





IT Services - (0.1)%

Gartner, Inc.

(1,277)

             (192,853)





Life Sciences Tools & Services - (0.9)%

Charles River Laboratories International, Inc.

(1,083)

             (251,808)
Revvity, Inc.

(9,527)

             (1,071,978)




             (1,323,786)





Machinery - (6.5)%

Caterpillar, Inc.

(2,962)

             (2,413,467)
Dover Corp.

(5,583)

             (1,142,394)
Federal Signal Corp.

(3,913)

             (488,929)
Illinois Tool Works, Inc.

(3,017)

             (865,728)
Oshkosh Corp.

(6,947)

             (989,322)
Otis Worldwide Corp.

(10,890)

             (783,536)
PACCAR, Inc.

(7,523)

             (998,152)
Snap-on, Inc.

(3,759)

             (1,542,731)
Trinity Industries, Inc.

(26,920)

             (840,981)




             (10,065,240)





Oil, Gas & Consumable Fuels - (0.6)%

Texas Pacific Land Corp.

(2,473)

             (995,580)





Passenger Airlines - (0.5)%

United Airlines Holdings, Inc.

(6,659)

             (807,937)





Professional Services - (1.5)%

Automatic Data Processing, Inc.

(2,716)

             (723,705)
FTI Consulting, Inc.

(4,306)

             (686,290)
Thomson Reuters Corp.

(8,866)

             (870,021)




             (2,280,016)





Semiconductors & Semiconductor Equipment - (0.4)%

ON Semiconductor Corp.

(8,350)

             (681,444)





Software - (3.7)%

Guidewire Software, Inc.

(8,016)

             (1,217,951)
Oracle Corp.

(12,583)

             (1,634,154)
Procore Technologies, Inc.

(11,753)

             (643,712)
Roper Technologies, Inc.

(1,949)

             (763,950)
Strategy, Inc.

(15,351)

             (1,431,941)




             (5,691,708)





Specialty Retail - (4.4)%

AutoZone, Inc.

(1,220)

             (3,679,825)
Best Buy Co., Inc.

(6,681)

             (576,303)
Floor & Decor Holdings, Inc. - Class A

(10,723)

             (617,323)


Valvoline, Inc.

(20,928)

             (803,844)
Wayfair, Inc. - Class A

(12,914)

             (1,096,399)




             (6,773,694)





Technology Hardware, Storage & Peripherals - (1.0)%

Seagate Technology Holdings PLC

(1,757)

             (1,504,220)





Textiles, Apparel & Luxury Goods - (0.5)%

Tapestry, Inc.

(5,216)

             (794,762)





Trading Companies & Distributors - (0.9)%

Watsco, Inc.

(1,118)

             (345,797)
WESCO International, Inc.

(3,065)

             (1,052,797)




             (1,398,594)
TOTAL COMMON STOCKS (Proceeds $71,802,969)

             (69,163,665)





REAL ESTATE INVESTMENT TRUSTS - (0.3)%

Shares

Value
Specialized REITs - (0.3)%

Iron Mountain, Inc.

(3,299)

             (403,534)
TOTAL REAL ESTATE INVESTMENT TRUSTS (Proceeds $385,806)

             (403,534)





TOTAL SECURITIES SOLD SHORT - (45.0)% (Proceeds $72,188,775)



    $        (69,567,199)





Percentages are stated as a percent of net assets.





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.





PLC - Public Limited Company

SEG Partners Long/Short Equity Fund
Schedule of Investments (continued)
Total Return Swap Contracts
July 31, 2026 (Unaudited)
Reference Entity
Counterparty
Long/Short
Pay/Receive Reference Entity
Financing Rate
Maturity Date
Notional Amount
Value/Unrealized Appreciation (Depreciation)
Footnotes
Agilent Technologies, Inc.
Goldman Sachs
Long
Receive
EFFR + 0.40%
06/30/2027-08/17/2027
$
2,338,453 
$
89,249 
Allegion PLC
Goldman Sachs
Long
Receive
EFFR + 0.40%
07/27/2027-08/30/2027
1,493,569 
$
101,667 
Alphabet, Inc.
Goldman Sachs
Long
Receive
EFFR + 0.40%
08/18/2027-09/01/2027
549,954 
$
11,323 
API Group Corp.
Goldman Sachs
Long
Receive
EFFR + 0.40%
08/31/2027-09/01/2027
387,713 
$
8,389 
Brunello Cucinelli SpA
Goldman Sachs
Long
Receive
EFFR + 0.40%
10/27/2026-08/31/2027
5,541,949 
$
301,208 
BWX Technologies, Inc.
Goldman Sachs
Long
Receive
EFFR + 0.40%
08/31/2026-08/31/2027
823,256 
$
79,067 
CAE, Inc.
Goldman Sachs
Long
Receive
EFFR + 0.40%
08/03/2027
28,247 
$
9,661 
CH Robinson Worldwide, Inc.
Goldman Sachs
Long
Receive
EFFR + 0.40%
09/01/2027
— 
$
359 
Clean Harbors, Inc.
Goldman Sachs
Long
Receive
EFFR + 0.40%
03/22/2027-08/09/2027
2,267,128 
$
116,738 
Cloudflare, Inc.
Goldman Sachs
Long
Receive
EFFR + 0.40%
08/25/2027
80,067 
$
3,765 
Cognex Corp.
Goldman Sachs
Long
Receive
EFFR + 0.40%
08/31/2027-09/01/2027
406,902 
$
25,162 
Crane Co.
Goldman Sachs
Long
Receive
EFFR + 0.40-0.50%
09/02/2026-06/08/2027
4,186,591 
$
597,039 
Ecolab, Inc.
Goldman Sachs
Long
Receive
EFFR + 0.40%
06/29/2027-08/24/2027
2,564,468 
$
102,026 
EMCOR Group, Inc.
Goldman Sachs
Long
Receive
EFFR + 0.40%
12/01/2026-05/04/2027
2,392,290 
$
306,254 


ESCO Technologies, Inc.
Goldman Sachs
Long
Receive
EFFR + 0.40%
06/09/2027-06/15/2027
574,774 
$
18,995 
First American Financial Corp.
Goldman Sachs
Long
Receive
EFFR + 0.40%
07/07/2027-08/03/2027
504,908 
$
49,580 
Garmin Ltd.
Goldman Sachs
Long
Receive
EFFR + 0.40%
08/24/2027-08/31/2027
1,091,393 
$
99,463 
Hubbell, Inc.
Goldman Sachs
Long
Receive
EFFR + 0.40%
06/22/2027
76,553 
$
1,432 
Intel Corp.
Goldman Sachs
Long
Receive
EFFR + 0.40%
05/25/2027
922,475 
$
66,591 
ITT, Inc.
Goldman Sachs
Long
Receive
EFFR + 0.40%
08/03/2027
2,258,278 
$
68,973 
JPSEFLAG
J.P. Morgan Securities, Inc.
Short
Pay
EFFR + 0.20%
07/27/2027
(8,279,116)
$
215,498 
(a)
Lamar Advertising Co.
Goldman Sachs
Long
Receive
EFFR + 0.40%
05/04/2027-08/03/2027
343,594 
$
36,277 
Liberty Media Corp.-Liberty Formula One
Goldman Sachs
Long
Receive
EFFR + 0.40%
03/02/2027-06/15/2027
4,277,585 
$
388,922 
Life Time Group Holdings, Inc.
Goldman Sachs
Long
Receive
EFFR + 0.40%
07/09/2027-08/30/2027
4,258,071 
$
585,161 
Lindblad Expeditions Holdings, Inc.
Goldman Sachs
Long
Receive
EFFR + 0.40%
08/03/2027
95,869 
$
5,246 
Microsoft Corp.
Goldman Sachs
Long
Receive
EFFR + 0.40%
08/23/2027-09/01/2027
799,318 
$
125,783 
MLSECONS
Bank of America
Short
Pay
EFFR + (0.25)%
08/03/2027
(471,858)
$
950 
(a)
MLSEHYPE
Bank of America
Short
Pay
EFFR + (0.20)%
06/29/2027-08/03/2027
(2,141,205)
$
582,488 
(a)
Paychex, Inc.
Goldman Sachs
Long
Receive
EFFR + 0.40%
12/25/2026-08/17/2027
3,861,445 
$
315,831 
Pool Corp.
Goldman Sachs
Long
Receive
EFFR + 0.40%
07/07/2027
32,314 
$
437 
Pop Mart International Group Ltd.
Bank of America
Short
Pay
EFFR + (0.35)%
10/23/2026-02/17/2027
(660,946)
$
312,341 
(a)
SAP SE
Goldman Sachs
Long
Receive
EFFR + 0.40%
08/03/2027-08/09/2027
1,289,161 
$
119,730 
Solstice Advanced Materials, Inc.
Goldman Sachs
Long
Receive
EFFR + 0.40%
08/18/2027-08/31/2027
1,719,237 
$
32,166 
St Joe Co.
Goldman Sachs
Long
Receive
EFFR + 0.40-0.50%
09/01/2026-08/03/2027
1,841,744 
$
231,396 
Uber Technologies, Inc.
Goldman Sachs
Long
Receive
EFFR + 0.40%
08/31/2027
474,015 
$
7,698 
UBSEAISB
UBS
Short
Pay
EFFR + (0.20)%
06/21/2027-08/10/2027
(2,027,863)
$
253,109 
(a)
UBSECFRA
UBS
Short
Pay
EFFR + (0.20)%
06/08/2027-08/03/2027
(499,510)
$
12,270 
(a)
UBSEINDU
UBS
Short
Pay
EFFR + (0.20)%
08/10/2027
(4,337,003)
$
156,932 
(a)
UBSEPCSB
UBS
Short
Pay
EFFR + (0.15)%
08/31/2027
(4,308,412)
$
120,968 
(a)
United States Lime & Minerals, Inc.
Goldman Sachs
Long
Receive
EFFR + 0.40%
07/07/2027-08/03/2027
348,548 
$
10,482 
Watches of Switzerland Group PLC
Goldman Sachs
Long
Receive
EFFR + 0.40%
02/03/2027-08/03/2027
1,942,706 
$
496,121 
$
6,066,748 
Reference Entity
Counterparty
Long/Short
Pay/Receive Reference Entity
Financing Rate
Maturity Date
Notional Amount
Value/Unrealized Appreciation (Depreciation)
Footnotes
Agilent Technologies, Inc.
Goldman Sachs
Long
Receive
EFFR + 0.40%
07/07/2027
$
375,536 
$
(6,479)
Allegion PLC
Goldman Sachs
Long
Receive
EFFR + 0.40%
08/31/2027
149,530.00 
$
(4,368)
Alphabet, Inc.
Goldman Sachs
Long
Receive
EFFR + 0.40%
08/09/2027-08/17/2027
2,606,754.85 
$
(55,747)
Aritzia, Inc.
Goldman Sachs
Long
Receive
EFFR + 0.40%
07/05/2027
523,724.10 
$
(72,967)
Brunello Cucinelli SpA
Goldman Sachs
Long
Receive
EFFR + 0.40%
11/03/2026-02/17/2027
667,530.45 
$
(45,455)
BWX Technologies, Inc.
Goldman Sachs
Long
Receive
EFFR + 0.40-0.50%
10/09/2026-08/03/2027
5,858,107.50 
$
(1,068,592)
CAE, Inc.
Goldman Sachs
Long
Receive
EFFR + 0.40-0.50%
10/05/2026-05/28/2027
1,943,135.74 
$
(165,079)
CGSQCORD
Citibank Global Markets, Inc.
Short
Pay
EFFR + (0.15)%
08/10/2027
(1,688,659.92)
$
(136,158)
(a)
CH Robinson Worldwide, Inc.
Goldman Sachs
Long
Receive
EFFR + 0.40%
02/03/2027-08/31/2027
5,078,366.48 
$
(825,640)
Cloudflare, Inc.
Goldman Sachs
Long
Receive
EFFR + 0.40%
08/17/2027-09/01/2027
1,067,377.48 
$
(3,062)
Crane Co.
Goldman Sachs
Long
Receive
EFFR + 0.40%
08/31/2027
1,067.30 
$
(64)
Ecolab, Inc.
Goldman Sachs
Long
Receive
EFFR + 0.40%
07/27/2027-08/31/2027
1,035,282.27 
$
(15,633)
EMCOR Group, Inc.
Goldman Sachs
Long
Receive
EFFR + 0.40%
03/26/2027-08/03/2027
3,468,023 
$
(256,701)
ESCO Technologies, Inc.
Goldman Sachs
Long
Receive
EFFR + 0.40%
05/25/2027-08/03/2027
459,693 
$
(32,276)


First American Financial Corp.
Goldman Sachs
Long
Receive
EFFR + 0.40%
08/25/2027-09/01/2027
150,505 
$
(1,579)
GSCBOZVT
Goldman Sachs
Short
Pay
EFFR + (0.33)%
08/10/2027
(8,117,002)
$
(272,965)
(a)
Hubbell, Inc.
Goldman Sachs
Long
Receive
EFFR + 0.40%
02/17/2027-08/24/2027
6,013,199 
$
(329,529)
Intel Corp.
Goldman Sachs
Long
Receive
EFFR + 0.40%
06/22/2027-08/09/2027
749,923 
$
(230,872)
ITT, Inc.
Goldman Sachs
Long
Receive
EFFR + 0.40%
05/04/2027-05/28/2027
8,282,703 
$
(827,640)
JPSEETRS
J.P. Morgan Securities, Inc.
Short
Pay
EFFR + 0.20%
04/27/2027
(1,765,459)
$
(173,522)
(a)
Liberty Media Corp.-Liberty Formula One
Goldman Sachs
Long
Receive
EFFR + 0.40%
08/03/2027
1,159,406 
$
(3,988)
Merck KGaA
Goldman Sachs
Long
Receive
EFFR + 0.40%
08/31/2027
387,212 
$
(23)
MLSEAIVC
Bank of America
Short
Pay
EFFR + (0.20)%
08/10/2027
(3,081,582)
$
(223,859)
(a)
MLSECONS
Bank of America
Short
Pay
EFFR + (0.25)%
05/31/2027-06/15/2027
(1,650,821)
$
(102,914)
(a)
MSSEALCO
Bank of America
Short
Pay
EFFR + (0.15)%
08/24/2027
(1,388,218)
$
(55,674)
(a)
Paychex, Inc.
Goldman Sachs
Long
Receive
EFFR + 0.40%
08/31/2027
72,558 
$
(4,461)
Pool Corp.
Goldman Sachs
Long
Receive
EFFR + 0.40%
07/12/2027-08/31/2027
1,319,284 
$
(133,209)
Pop Mart International Group Ltd.
Bank of America
Short
Pay
EFFR + (30.00)-(0.35)%
05/04/2027-08/03/2027
(389,829)
$
(23,765)
(a)
QXO, Inc.
Goldman Sachs
Long
Receive
EFFR + 0.40%
08/03/2027-08/18/2027
566,527 
$
(58,088)
RH
Goldman Sachs
Long
Receive
EFFR + 0.40%
08/17/2027-08/30/2027
683,432 
$
(77,401)
RPM International, Inc.
Goldman Sachs
Long
Receive
EFFR + 0.40%
08/31/2027
446,803 
$
(12,965)
S&P Global, Inc.
Goldman Sachs
Long
Receive
EFFR + 0.40%
08/17/2027-08/18/2027
838,689 
$
(62,654)
SAP SE
Goldman Sachs
Long
Receive
EFFR + 0.40%
08/31/2027
150,940 
$
(2,981)
Solstice Advanced Materials, Inc.
Goldman Sachs
Long
Receive
EFFR + 0.40%
08/03/2027-08/25/2027
1,265,917 
$
(328,900)
St Joe Co.
Goldman Sachs
Long
Receive
EFFR + 0.40%
02/08/2027-08/31/2027
927,500 
$
(30,313)
Taiwan Semiconductor Manufacturing Co. Ltd.
Goldman Sachs
Long
Receive
EFFR + 0.40%
08/09/2027
693,693 
$
(78,520)
Tyler Technologies, Inc.
Goldman Sachs
Long
Receive
EFFR + 0.40%
08/18/2027
24,149 
$
(883)
UBSECFRA
UBS
Short
Receive
EFFR + 0.00%
01/00/1900
— 
$
(2,210)
United States Lime & Minerals, Inc.
Goldman Sachs
Long
Receive
EFFR + 0.40%
02/03/2027-05/28/2027
555,471 
$
(81,625)
$
(5,808,762)
Net Unrealized Appreciation (Depreciation)
$
257,986 
There are no upfront payments or receipts associated with total return swaps in the Fund as of July 31, 2026.
EFFR - Effective Federal Funds Rate was 3.63% as of July 31, 2026.
Payment frequency is at the applicable maturity date.
(a) The fund receives the total return on a portfolio of short equity positions.
The following tables represent disclosures associated with a subset of the underlying components of the total return basket swap contract as of period end:
CGSQCORD


Reference Entity
Shares
Notional Value
Net Unrealized Appreciation (Depreciation)
Percentage of Swap Value
AT&T INC
(30,163)
$
(701,298)
$
36,721 
(27.0)
%
COMCAST CORP-CLASS A
(24,924)
(597,178)
102,276 
(75.1)
%
VERIZON COMMUNICATIONS INC
(8,336)
(390,227)
(1,038)
0.8 
%
GSCBOZVT
Reference Entity
Shares
Notional Value
Net Unrealized Appreciation (Depreciation)
Percentage of Swap Value
ABBOTT LABORATORIES
(2,447)
$
(258,646)
$
22,194 
(8.1)
%
ADAPTHEALTH CORP
(5,575)
(60,209)
(2,430)
0.9 
%
AMCOR PLC
(4,925)
(221,019)
(136,406)
50.0 
%
BOSTON SCIENTIFIC CORP
(3,140)
(146,719)
55,546 
(20.3)
%
CHEESECAKE FACTORY INC/THE
(2,947)
(298,905)
(124,518)
45.6 
%
CELSIUS HOLDINGS INC
(5,908)
(172,574)
22,844 
(8.4)
%
DOMINO'S PIZZA INC
(495)
(171,844)
21,697 
(7.9)
%
DARDEN RESTAURANTS INC
(1,015)
(206,604)
(2,631)
1.0 
%
DAVITA INC
(3,104)
(745,353)
(276,813)
101.4 
%
DEXCOM INC
(7,467)
(623,121)
(125,370)
45.9 
%
EDWARDS LIFESCIENCES CORP
(5,260)
(452,762)
(15,196)
5.6 
%
HERSHEY CO/THE
(2,122)
(371,505)
1,679 
(0.6)
%
INSPIRE MEDICAL SYSTEMS INC
(2,664)
(133,778)
48,408 
(17.7)
%
KEURIG DR PEPPER INC
(7,615)
(236,968)
(24,727)
9.1 
%
KRAFT HEINZ CO/THE
(7,798)
(201,577)
(8,102)
3.0 
%
COCA-COLA CO/THE
(3,308)
(289,712)
(23,489)
8.6 
%
MCDONALD'S CORP
(615)
(166,342)
9,851 
(3.6)
%
MADRIGAL PHARMACEUTICALS INC
(110)
(51,398)
5,424 
(2.0)
%
MEDLINE INC-CL A
(7,331)
(287,961)
(15,287)
5.6 
%
MONDELEZ INTERNATIONAL INC-A
(6,756)
(420,956)
9,169 
(3.4)
%
MEDTRONIC PLC
(4,291)
(366,410)
1,781 
(0.7)
%
MERIT MEDICAL SYSTEMS INC
(1,210)
(102,893)
(4,705)
1.7 
%
MONSTER BEVERAGE CORP
(1,723)
(166,101)
(38,654)
14.2 
%
PEPSICO INC
(1,296)
(180,801)
(1,042)
0.4 
%
INSULET CORP
(1,439)
(237,900)
143,970 
(52.7)
%
RESTAURANT BRANDS INTERN
(3,079)
(227,940)
(12,869)
4.7 
%
RESMED INC
(2,597)
(547,924)
53,216 
(19.5)
%
SONOCO PRODUCTS CO
(1,541)
(86,835)
(16,007)
5.9 
%
WINGSTOP INC
(1,213)
(157,016)
35,723 
(13.1)
%
YUM! BRANDS INC
(2,015)
(308,903)
3,299 
(1.2)
%
ZIMMER BIOMET HOLDINGS INC
(2,301)
(216,166)
(25,006)
9.2 
%


JPSEETRS
Reference Entity
Shares
Notional Value
Net Unrealized Appreciation (Depreciation)
Percentage of Swap Value
BOOZ ALLEN HAMILTON HOLDINGS
(1,995)
(139,123)
8,180 
(4.7)
%
BILL HOLDINGS INC
(3,097)
(139,786)
(24,888)
14.3 
%
BOX INC - CLASS A
(4,274)
(134,859)
(23,216)
13.4 
%
COGNIZANT TECH SOLUTIONS-A
(2,846)
(157,534)
14,546 
(8.4)
%
DROPBOX INC-CLASS A
(4,259)
(138,684)
(26,257)
15.1 
%
DOCUSIGN INC
(2,527)
(138,533)
(21,785)
12.6 
%
EPAM SYSTEMS INC
(1,413)
(149,180)
(4,014)
2.3 
%
F5 INC
(285)
(114,645)
(18,755)
10.8 
%
INTL BUSINESS MACHINES CORP
(414)
(92,610)
5,645 
(3.3)
%
RINGCENTRAL INC-CLASS A
(3,038)
(168,967)
(45,625)
26.3 
%
SAGE GROUP PLC/THE
(11,009)
(144,222)
(14,007)
8.1 
%
VARONIS SYSTEMS INC
(2,703)
(107,968)
(28,791)
16.6 
%
WORKIVA INC
(2,331)
(139,401)
(21,057)
12.1 
%
JPSEFLAG
Reference Entity
Shares
Notional Value
Net Unrealized Appreciation (Depreciation)
Percentage of Swap Value
AAON INC
(999)
(88,942)
7,219 
3.4 
%
AXCELIS TECHNOLOGIES INC
(1,026)
(133,725)
(22,511)
(10.4)
%
AECOM
(2,141)
(154,995)
(3,028)
(1.4)
%
ACM RESEARCH INC-CLASS A
(4,047)
(317,530)
(2,022)
(0.9)
%
AXON ENTERPRISE INC
(703)
(370,777)
(40,494)
(18.8)
%
BALL CORP
(4,290)
(278,445)
(13,357)
(6.2)
%
BUNGE GLOBAL SA
(2,368)
(251,518)
10,073 
4.7 
%
COLGATE-PALMOLIVE CO
(570)
(52,003)
439 
0.2 
%
CENCORA INC
(1,045)
(325,208)
(26,320)
(12.2)
%
DOORDASH INC - A
(1,039)
(203,834)
(13,527)
(6.3)
%
DEERE & CO
(654)
(387,417)
13,565 
6.3 
%
DIGITALOCEAN HOLDINGS INC
(428)
(50,293)
9,332 
4.3 
%
FIDELITY NATIONAL INFO SERV
(8,115)
(363,331)
(50,079)
(23.2)
%
FISERV INC
(1,137)
(61,311)
10,025 
4.7 
%
FORTINET INC
(1,302)
(210,916)
(13,689)
(6.4)
%
GRAB HOLDINGS LTD - CL A
(74,982)
(262,436)
14,846 
6.9 
%
HONEYWELL INTERNATIONAL INC
(65)
(15,690)
(708)
(0.3)
%
INTL BUSINESS MACHINES CORP
(447)
(99,907)
5,659 
2.6 
%
JACOBS SOLUTIONS INC
(3,315)
(447,334)
(30,603)
(14.2)
%
KROGER CO
(3,582)
(206,850)
(126)
(0.1)
%
LITHIA MOTORS INC
(765)
(294,818)
(71,382)
(33.1)
%
LUMENTUM HOLDINGS INC
(210)
(150,081)
21,601 
10.0 
%


LANTHEUS HOLDINGS INC
(3,004)
(299,350)
30,515 
14.2 
%
MONSTER BEVERAGE CORP
(1,267)
(122,081)
(38,737)
(18.0)
%
MOSAIC CO/THE
(6,793)
(150,260)
14,134 
6.6 
%
NEWS CORP - CLASS A
(11,114)
(306,313)
(23,805)
(11.0)
%
NEXTPOWER INC-CL A
(2,102)
(188,887)
36,240 
16.8 
%
O'REILLY AUTOMOTIVE INC
(876)
(78,297)
208 
0.1 
%
OUSTER INC
(7,059)
(275,391)
22,845 
10.6 
%
PFIZER INC
(8,153)
(203,918)
(5,920)
(2.7)
%
PTC INC
(3,606)
(494,733)
(77,234)
(35.8)
%
RESTAURANT BRANDS INTERN
(3,695)
(273,470)
(12,896)
(6.0)
%
RALPH LAUREN CORP
(587)
(223,178)
17,991 
8.3 
%
SUPER MICRO COMPUTER INC
(4,105)
(116,568)
9,021 
4.2 
%
T-MOBILE US INC
(394)
(68,045)
3,884 
1.8 
%
TESLA INC
(278)
(86,661)
19,221 
8.9 
%
ULTA BEAUTY INC
(255)
(130,928)
(6,331)
(2.9)
%
UNITED THERAPEUTICS CORP
(379)
(196,422)
9,473 
4.4 
%
WATERS CORP
(448)
(168,982)
(1,289)
(0.6)
%
WESCO INTERNATIONAL INC
(490)
(168,407)
1,756 
0.8 
%
MLSEAIVC
Reference Entity
Shares
Notional Value
Net Unrealized Appreciation (Depreciation)
Percentage of Swap Value
ACCENTURE PLC-CL A
(618)
(102,544)
26,075 
(11.6)
%
ADOBE INC
(430)
(107,703)
(2,243)
1.0 
%
APPFOLIO INC - A
(169)
(30,468)
(2,281)
1.0 
%
BOOZ ALLEN HAMILTON HOLDINGS
(1,390)
(96,879)
8,176 
(3.7)
%
BILL HOLDINGS INC
(641)
(28,951)
(24,876)
11.1 
%
SALESFORCE INC
(607)
(111,786)
(4,306)
1.9 
%
COGNIZANT TECH SOLUTIONS-A
(2,216)
(122,659)
14,539 
(6.5)
%
DROPBOX INC-CLASS A
(1,971)
(64,172)
(26,245)
11.7 
%
AMDOCS LTD
(820)
(45,690)
9,097 
(4.1)
%
DUOLINGO
(233)
(31,362)
(3,567)
1.6 
%
EPAM SYSTEMS INC
(830)
(87,648)
(4,012)
1.8 
%
ELASTIC NV
(511)
(33,612)
(3,722)
1.7 
%
EXLSERVICE HOLDINGS INC
(930)
(31,545)
(4,721)
2.1 
%
EXPEDIA GROUP INC
(465)
(137,053)
(30,756)
13.7 
%
FTI CONSULTING INC
(172)
(27,347)
808 
(0.4)
%
FACTSET RESEARCH SYSTEMS INC
(503)
(132,357)
(29,261)
13.1 
%
GENPACT LTD
(872)
(30,671)
(1,257)
0.6 
%
GODADDY INC - CLASS A
(300)
(24,812)
154 
(0.1)
%
GITLAB INC-CL A
(2,266)
(78,211)
(14,102)
6.3 
%
H&R BLOCK INC
(1,431)
(63,021)
(14,866)
6.6 
%
INTL BUSINESS MACHINES CORP
(464)
(103,722)
5,643 
(2.5)
%
GARTNER INC
(711)
(107,417)
(3,240)
1.4 
%


JACOBS SOLUTIONS INC
(916)
(123,594)
(30,517)
13.6 
%
KBR INC
(818)
(29,933)
339 
(0.2)
%
LEIDOS HOLDINGS INC
(809)
(93,519)
24,538 
(11.0)
%
SERVICENOW INC
(1,120)
(124,587)
(11,855)
5.3 
%
OMNICOM GROUP
(1,403)
(110,395)
(6,821)
3.0 
%
PAYCOM SOFTWARE INC
(377)
(61,812)
(16,506)
7.4 
%
SS&C TECHNOLOGIES HOLDINGS
(786)
(60,524)
(5,928)
2.6 
%
ATLASSIAN CORP-CL A
(1,266)
(127,903)
(17,645)
7.9 
%
THOMSON REUTERS CORP
(1,279)
(125,538)
(24,328)
10.9 
%
UNITY SOFTWARE INC
(2,809)
(89,060)
(28,757)
12.8 
%
WORKDAY INC-CLASS A
(852)
(136,581)
(22,403)
10.0 
%
ZILLOW GROUP INC - C
(2,691)
(91,643)
17,097 
(7.6)
%
MLSECONS
Reference Entity
Shares
Notional Value
Net Unrealized Appreciation (Depreciation)
Percentage of Swap Value
ACADEMY SPORTS & OUTDOORS IN
(1,135)
(53,865)
9,525 
(9.3)
%
BRUNSWICK CORP
(801)
(63,316)
(696)
0.7 
%
BIRKENSTOCK HOLDING PLC
(1,739)
(67,319)
361 
(0.4)
%
BOOKING HOLDINGS INC
(848)
(163,593)
(19,088)
18.7 
%
CARNIVAL CORP LTD
(2,919)
(81,178)
(2,185)
2.1 
%
DECKERS OUTDOOR CORP
(576)
(55,771)
4,257 
(4.2)
%
DOLLAR GENERAL CORP
(884)
(112,336)
2,220 
(2.2)
%
WALT DISNEY CO/THE
(1,290)
(124,119)
8,234 
(8.1)
%
EXPEDIA GROUP INC
(351)
(103,583)
(30,788)
30.2 
%
FLOOR & DECOR HOLDINGS INC-A
(965)
(55,545)
(1,565)
1.5 
%
LULULEMON ATHLETICA INC
(378)
(44,938)
11,869 
(11.6)
%
LAS VEGAS SANDS CORP
(2,057)
(100,571)
10,050 
(9.9)
%
MARRIOTT INTERNATIONAL -CL A
(396)
(147,793)
(10,350)
10.2 
%
VAIL RESORTS INC
(959)
(143,311)
(17,823)
17.5 
%
NORWEGIAN CRUISE LINE HOLDIN
(2,843)
(52,687)
1,720 
(1.7)
%
NIKE INC -CL B
(1,070)
(44,620)
9,108 
(8.9)
%
FERRARI NV
(365)
(143,878)
(18,027)
17.7 
%
ROYAL CARIBBEAN CRUISES LTD
(289)
(91,977)
(11,492)
11.3 
%
RALPH LAUREN CORP
(369)
(140,245)
17,959 
(17.6)
%
TKO GROUP HOLDINGS INC
(659)
(119,778)
11,096 
(10.9)
%
TAPESTRY INC
(882)
(134,412)
(6,227)
6.1 
%
WAYFAIR INC- CLASS A
(917)
(77,862)
(13,640)
13.4 
%
MLSEHYPE
Reference Entity
Shares
Notional Value
Net Unrealized Appreciation (Depreciation)
Percentage of Swap Value


ARCHER AVIATION INC-A
(14,469)
(67,136)
30,799 
5.3 
%
APPLOVIN CORP-CLASS A
(220)
(87,160)
36,287 
6.2 
%
AST SPACEMOBILE INC
(914)
(53,899)
47,022 
8.1 
%
AEROVIRONMENT INC
(368)
(54,981)
24,302 
4.2 
%
AXON ENTERPRISE INC
(229)
(120,941)
(40,352)
(6.9)
%
CELSIUS HOLDINGS INC
(2,020)
(59,009)
22,813 
3.9 
%
CIPHER DIGITAL INC
(6,276)
(140,091)
(8,772)
(1.5)
%
COINBASE GLOBAL INC -CLASS A
(569)
(83,272)
21,348 
3.7 
%
CARVANA CO
(1,254)
(78,202)
12,922 
2.2 
%
ROBINHOOD MARKETS INC - A
(1,177)
(101,887)
14,296 
2.5 
%
IREN LTD
(1,890)
(69,538)
33,901 
5.8 
%
JOBY AVIATION INC
(9,651)
(69,003)
50,332 
8.6 
%
LAM RESEARCH CORP
(440)
(128,973)
(15,149)
(2.6)
%
STRATEGY INC
(758)
(70,686)
49,494 
8.5 
%
OPENDOOR TECHNOLOGIES INC
(20,119)
(75,848)
34,854 
6.0 
%
PALANTIR TECHNOLOGIES INC-A
(670)
(82,431)
22,044 
3.8 
%
D-WAVE QUANTUM INC
(4,916)
(88,882)
36,130 
6.2 
%
QUANTUMSCAPE CORP
(11,621)
(60,660)
41,276 
7.1 
%
ROBLOX CORP -CLASS A
(1,605)
(57,121)
37,007 
6.4 
%
REDDIT INC-CL A
(613)
(86,179)
17,222 
3.0 
%
RIGETTI COMPUTING INC
(5,797)
(86,670)
39,758 
6.8 
%
RIVIAN AUTOMOTIVE INC-A
(7,187)
(109,383)
1,814 
0.3 
%
ROCKET LAB CORP
(1,318)
(85,633)
52,026 
8.9 
%
SOFI TECHNOLOGIES INC
(4,712)
(76,851)
20,582 
3.5 
%
UBSEAISB
Reference Entity
Shares
Notional Value
Net Unrealized Appreciation (Depreciation)
Percentage of Swap Value
ADVANCED ENERGY INDUSTRIES
(156)
(45,023)
(860)
(0.3)
%
ASTERA LABS INC
(221)
(68,752)
(7,533)
(3.0)
%
APPLIED MATERIALS INC
(118)
(59,682)
(8,343)
(3.3)
%
ADVANCED MICRO DEVICES
(116)
(55,032)
(10,078)
(4.0)
%
AMKOR TECHNOLOGY INC
(724)
(36,121)
6,718 
2.7 
%
ARISTA NETWORKS INC
(353)
(63,711)
(9,809)
(3.9)
%
BLOOM ENERGY CORP- A
(188)
(38,786)
1,044 
0.4 
%
CELESTICA INC
(142)
(47,103)
(616)
(0.2)
%
CREDO TECHNOLOGY GROUP HOLDI
(305)
(63,171)
(8,283)
(3.3)
%
COREWEAVE INC-CL A
(489)
(35,129)
8,819 
3.5 
%
DYCOM INDUSTRIES INC
(116)
(46,371)
570 
0.2 
%
FLEX LTD
(365)
(41,557)
(3,205)
(1.3)
%
FABRINET
(72)
(31,497)
6,036 
2.4 
%
GE VERNOVA INC
(49)
(48,590)
(3,889)
(1.5)
%
IES HOLDINGS INC
(76)
(56,291)
(14,306)
(5.7)
%
KLA CORP
(280)
(51,102)
38,838 
15.3 
%


LAM RESEARCH CORP
(174)
(51,054)
(15,303)
(6.0)
%
MKS INC
(163)
(48,408)
(1,585)
(0.6)
%
MONOLITHIC POWER SYSTEMS INC
(32)
(46,274)
(5,673)
(2.2)
%
MARVELL TECHNOLOGY INC
(282)
(52,961)
(6,819)
(2.7)
%
MACOM TECHNOLOGY SOLUTIONS H
(136)
(34,112)
3,554 
1.4 
%
MICRON TECHNOLOGY INC
(68)
(55,557)
(9,221)
(3.6)
%
NEBIUS GROUP NV
(245)
(46,698)
(8,019)
(3.2)
%
NRG ENERGY INC
(395)
(53,002)
1,575 
0.6 
%
NOVA LTD
(100)
(39,117)
6,310 
2.5 
%
NVENT ELECTRIC PLC
(301)
(46,318)
(4,395)
(1.7)
%
OKLO INC
(835)
(32,442)
17,934 
7.1 
%
ORACLE CORP
(268)
(34,744)
7,753 
3.1 
%
EVERPURE INC-A
(626)
(48,309)
(2,152)
(0.9)
%
RAMBUS INC
(396)
(36,007)
9,357 
3.7 
%
CONSTRUCTION PARTNERS INC-A
(427)
(44,170)
3,542 
1.4 
%
SITIME CORP
(66)
(35,287)
(777)
(0.3)
%
SUPER MICRO COMPUTER INC
(1,635)
(46,438)
9,080 
3.6 
%
SEMTECH CORP
(361)
(42,527)
(1,910)
(0.8)
%
SANDISK CORP
(36)
(43,689)
(99)
0.0 
%
STERLING INFRASTRUCTURE INC
(62)
(36,707)
(1,706)
(0.7)
%
SEAGATE TECHNOLOGY HOLDINGS
(64)
(55,102)
(14,033)
(5.5)
%
SYMBOTIC INC | sym
(1,069)
(46,028)
4,811 
1.9 
%
TALEN ENERGY CORP
(151)
(50,312)
2,443 
1.0 
%
TEXAS PACIFIC LAND CORP
(130)
(52,220)
(3,560)
(1.4)
%
TTM TECHNOLOGIES
(305)
(35,155)
4,071 
1.6 
%
URANIUM ENERGY CORP
(3,670)
(35,230)
11,119 
4.4 
%
VERTIV HOLDINGS CO-A
(143)
(34,441)
2,517 
1.0 
%
WESTERN DIGITAL CORP
(106)
(57,679)
(14,547)
(5.7)
%
UBSEINDU
Reference Entity
Shares
Notional Value
Net Unrealized Appreciation (Depreciation)
Percentage of Swap Value
AAON INC
(652)
(58,072)
7,242 
4.6 
%
AGCO CORP
(945)
(96,495)
13,271 
8.5 
%
ALASKA AIR GROUP INC
(2,751)
(130,526)
(16,137)
(10.3)
%
ALLISON TRANSMISSION HOLDING
(986)
(112,993)
6,263 
4.0 
%
ARCBEST CORP
(1,208)
(174,399)
(31,600)
(20.1)
%
AXON ENTERPRISE INC
(211)
(111,405)
(40,623)
(25.9)
%
BRADY CORPORATION - CL A
(1,344)
(126,663)
(14,362)
(9.2)
%
CNH INDUSTRIAL NV
(10,569)
(108,328)
3,573 
2.3 
%
CSX CORP
(2,928)
(147,556)
(18,035)
(11.5)
%
CENTURI HOLDINGS INC
(4,091)
(113,895)
19,721 
12.6 
%
DUCOMMUN INC
(925)
(165,650)
(32,236)
(20.5)
%
DEERE & CO
(204)
(120,810)
13,609 
8.7 
%


DNOW INC
(9,998)
(141,178)
(14,387)
(9.2)
%
FLUOR CORP
(2,609)
(130,900)
(4,384)
(2.8)
%
GENERAL DYNAMICS CORP
(334)
(128,054)
(12,182)
(7.8)
%
GENERAC HOLDINGS INC
(551)
(108,576)
22,876 
14.6 
%
GRANITE CONSTRUCTION INC
(950)
(114,965)
10,807 
6.9 
%
JBT MAREL CORP
(789)
(109,241)
(4,757)
(3.0)
%
KRATOS DEFENSE & SECURITY
(1,409)
(65,644)
27,671 
17.6 
%
LENNOX INTERNATIONAL INC
(228)
(94,796)
21,089 
13.4 
%
NORTHROP GRUMMAN CORP
(163)
(88,365)
10,733 
6.8 
%
OWENS CORNING
(1,080)
(150,076)
(19,901)
(12.7)
%
OTIS WORLDWIDE CORP
(1,329)
(95,633)
6,121 
3.9 
%
PACCAR INC
(977)
(129,608)
(14,717)
(9.4)
%
GIBRALTAR INDUSTRIES INC
(2,922)
(123,500)
(7,682)
(4.9)
%
ROCKWELL AUTOMATION INC
(319)
(152,940)
(19,264)
(12.3)
%
REGAL REXNORD CORP
(606)
(124,327)
91 
0.1 
%
REPUBLIC SERVICES INC
(520)
(109,482)
1,111 
0.7 
%
RUSH ENTERPRISES INC-CL A
(1,753)
(139,891)
(17,807)
(11.3)
%
RXO INC
(7,798)
(157,910)
(5,861)
(3.7)
%
SCHNEIDER NATIONAL INC-CL B
(4,408)
(157,547)
(23,386)
(14.9)
%
STANDEX INTERNATIONAL CORP
(472)
(139,895)
(11,370)
(7.2)
%
TIMKEN CO
(1,169)
(160,817)
(28,192)
(18.0)
%
WERNER ENTERPRISES INC
(3,630)
(135,829)
(7,071)
(4.5)
%
WASTE MANAGEMENT INC
(490)
(110,923)
529 
0.3 
%
UBSEPCSB
Reference Entity
Shares
Notional Value
Net Unrealized Appreciation (Depreciation)
Percentage of Swap Value
ALLSTATE CORP
(9,031)
(2,384,841)
(533,068)
(440.7)
%
CNA FINANCIAL CORP
(1,560)
(81,877)
(7,258)
(6.0)
%
HANOVER INSURANCE GROUP INC
(2,169)
(504,588)
(120,994)
(100.0)
%
KEMPER CORP
(5,578)
(158,304)
41,357 
34.2 
%
MERCURY GENERAL CORP
(2,663)
(285,256)
(45,293)
(37.4)
%
SAFETY INSURANCE GROUP INC
(465)
(48,036)
(12,195)
(10.1)
%
SELECTIVE INSURANCE GROUP
(4,119)
(390,429)
(41,928)
(34.7)
%

Summary of Fair Value Disclosure as of July 31, 2026 (Unaudited)

SEG Partners Long/Short Equity Fund (the “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 July 31, 2026:



Level 1

Level 2

Level 3

Total
Assets:







Investments:







  Common Stocks
    $        129,441,002

    $        –

    $        –

    $        129,441,002
  Purchased Options
            –

            6,399,960

            –

            6,399,960
  Money Market Funds
            4,420

            –

            –

            4,420
Total Investments
    $        129,445,422

    $        6,399,960

    $        –

    $        135,845,382

Other Financial Instruments:







  Total Return Swaps *
    $        –

    $        6,066,748

    $        –

    $        6,066,748
Total Other Financial Instruments
    $        –

    $        6,066,748

    $        –

    $        6,066,748








Liabilities:







Investments:







  Common Stocks
    $        (69,163,665)

    $        –

    $        –

    $        (69,163,665)
  Real Estate Investment Trusts
            (403,534)

            –

            –

            (403,534)
  Written Options
            –

            (103,512)

            –

            (103,512)
Total Investments
    $        (69,567,199)

    $        (103,512)

    $        –

    $        (69,670,711)

Other Financial Instruments:







  Total Return Swaps *
    $        –

    $        (5,808,762)

    $        –

    $        (5,808,762)
Total Other Financial Instruments
    $        –

    $        (5,808,762)

    $        –

    $        (5,808,762)

* The fair value of the Fund's investment represents the unrealized appreciation (depreciation) as of July 31, 2026.



 

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