| Grandeur Peak Global Contrarian Fund | Portfolio of Investments |
| July 31, 2026 (Unaudited) |
| Shares | Fair Value | |||||||
| COMMON STOCKS — 99.12% | ||||||||
| Australia — 4.77% | ||||||||
| Fiducian Group Ltd(a) | 279,883 | $ | 1,655,529 | |||||
| IPD Group Ltd/Australia(a) | 315,601 | 1,073,412 | ||||||
| Kogan.com Ltd(a) | 331,664 | 997,257 | ||||||
| MA Financial Group Ltd(a) | 467,072 | 1,878,023 | ||||||
| Navigator Global Investments Limited(a) | 751,538 | 1,227,778 | ||||||
| 6,831,999 | ||||||||
| Belgium — 4.22% | ||||||||
| Azelis Group N.V. | 103,707 | 1,353,012 | ||||||
| Melexis NV | 41,550 | 3,273,578 | ||||||
| X-Fab Silicon Foundries S.E. 144A(a),(b),(c) | 189,987 | 1,421,232 | ||||||
| 6,047,822 | ||||||||
| Brazil — 2.07% | ||||||||
| Grupo Mateus S.A.(a) | 1,074,300 | 847,156 | ||||||
| Track & Field Co. SA | 736,500 | 2,122,746 | ||||||
| 2,969,902 | ||||||||
| Canada — 1.02% | ||||||||
| BioSyent Inc | 138,757 | 1,460,058 | ||||||
| China — 1.59% | ||||||||
| Chaoju Eye Care Holdings Ltd 144A(b),(c) | 3,043,500 | 1,024,528 | ||||||
| Silergy Corporation(a) | 60,000 | 767,111 | ||||||
| TK Group Holdings Ltd | 2,262,883 | 490,521 | ||||||
| 2,282,160 | ||||||||
| France — 3.73% | ||||||||
| Thermador Groupe(a) | 12,979 | 1,133,361 | ||||||
| Virbac S.A. | 9,607 | 3,740,181 | ||||||
| Wavestone(a) | 12,617 | 471,555 | ||||||
| 5,345,097 | ||||||||
| Germany — 1.67% | ||||||||
| Dermapharm Holding SE | 50,562 | 2,391,328 | ||||||
| India — 1.55% | ||||||||
| Gulf Oil Lubricants India Ltd. (a) | 107,314 | 1,202,817 | ||||||
| Sri Lotus Developers And Realty Ltd. (a) | 487,900 | 1,023,446 | ||||||
| 2,226,263 | ||||||||
| Indonesia — 2.77% | ||||||||
| Aspirasi Hidup Ind | 44,556,200 | 889,839 | ||||||
| Hartadinata Abadi Tbk PT | 23,947,100 | 2,464,322 | ||||||
| Selamat Sempurna Tbk PT | 6,194,100 | 615,080 | ||||||
| 3,969,241 | ||||||||
| Ireland — 1.34% | ||||||||
| ICON plc(a) | 11,749 | 1,921,725 | ||||||
| Italy — 8.38% | ||||||||
| DiaSorin SpA | 15,886 | 1,316,839 | ||||||
| Interpump Group SpA | 124,027 | 4,970,236 | ||||||
| Recordati Industria Chimica e Farmaceutica SpA | 72,216 | 4,302,637 | ||||||
| Sanlorenzo SpA/Ameglia | 32,565 | 1,420,704 | ||||||
| 12,010,416 | ||||||||
| Japan — 8.33% | ||||||||
| Charm Care Corp KK | 382,700 | 3,262,638 | ||||||
| Shares | Fair Value | |||||||
| COMMON STOCKS — 99.12% (continued) | ||||||||
| Japan — 8.33% (continued) | ||||||||
| Halows Company Ltd. | 44,100 | $ | 1,059,743 | |||||
| Integral Corp | 43,900 | 808,371 | ||||||
| Kitz Corp | 86,400 | 1,194,172 | ||||||
| Mani, Inc. (a) | 100,800 | 957,509 | ||||||
| PILLAR Corp(a) | 13,000 | 775,069 | ||||||
| Sanki Service Corporation(a) | 20,400 | 243,765 | ||||||
| Shin Maint Holdings Company Ltd. (a) | 41,900 | 274,555 | ||||||
| Tomoe Engineering Company Ltd. (a) | 93,200 | 1,134,165 | ||||||
| Totech Corp | 46,400 | 1,128,131 | ||||||
| ULS Group Inc | 313,800 | 1,107,949 | ||||||
| 11,946,067 | ||||||||
| Luxembourg — 1.72% | ||||||||
| Eurofins Scientific S.E. (a) | 31,384 | 2,467,567 | ||||||
| Mexico — 2.45% | ||||||||
| Corporativo Fragua SAB de CV(a) | 35,150 | 994,276 | ||||||
| GCC S.A.B. de C.V. 144A(b),(c) | 92,600 | 1,063,422 | ||||||
| Regional S.A.B. de C.V. (a) | 177,400 | 1,459,566 | ||||||
| 3,517,264 | ||||||||
| Netherlands — 3.04% | ||||||||
| IMCD N.V. | 39,835 | 4,355,244 | ||||||
| Philippines — 1.46% | ||||||||
| Philippine Seven Corp | 1,693,900 | 937,981 | ||||||
| Puregold Price Club, Inc. (a) | 1,730,200 | 1,158,742 | ||||||
| 2,096,723 | ||||||||
| Poland — 2.21% | ||||||||
| Auto Partner SA | 206,555 | 1,592,330 | ||||||
| Inter Cars SA | 6,297 | 1,575,978 | ||||||
| 3,168,308 | ||||||||
| Singapore — 0.72% | ||||||||
| Riverstone Holdings Ltd. | 1,580,375 | 1,035,196 | ||||||
| South Korea — 3.66% | ||||||||
| FNS Tech Company Ltd. (a) | 53,682 | 416,644 | ||||||
| iFamilySC Co Ltd(a) | 246,509 | 1,289,729 | ||||||
| Jahwa Electronics Company Ltd.(a) | 33,612 | 515,925 | ||||||
| Protec Company Ltd. (a) | 13,585 | 543,193 | ||||||
| Pumtech Korea Company Ltd. (a) | 44,522 | 1,422,310 | ||||||
| Sanil Electric Company Ltd. (a) | 10,706 | 1,062,402 | ||||||
| 5,250,203 | ||||||||
| Sweden — 1.87% | ||||||||
| Nordrest Holding A.B. (a) | 27,200 | 718,466 | ||||||
| Sdiptech AB(a) | 64,723 | 1,643,668 | ||||||
| Swedencare AB(a) | 135,208 | 312,410 | ||||||
| 2,674,544 | ||||||||
| Switzerland — 0.85% | ||||||||
| R&S Group Holding A.G. 144A(a),(b),(c) | 47,082 | 1,218,446 | ||||||
| Taiwan — 3.67% | ||||||||
| AURAS Technology Co. Ltd. (a) | 26,000 | 726,001 | ||||||
| Gem Services, Inc. | 206,000 | 784,385 | ||||||
| Sinbon Electronics Co., Ltd. (a) | 188,000 | 1,722,688 | ||||||
| Sporton International, Inc. | 201,000 | 1,197,799 | ||||||
| Voltronic Power Technology Corporation | 28,000 | 829,520 | ||||||
| 5,260,393 | ||||||||
| Grandeur Peak Global Contrarian Fund | Portfolio of Investments |
| July 31, 2026 (Unaudited) (Continued) |
| Shares | Fair Value | |||||||
| COMMON STOCKS — 99.12% (continued) | ||||||||
| Thailand — 0.96% | ||||||||
| Thaifoods Group PCL | 4,655,900 | $ | 1,372,620 | |||||
| United Arab Emirates — 1.20% | ||||||||
| Spinneys 1961 Holding PLC(a) | 4,996,169 | 1,727,319 | ||||||
| United Kingdom — 13.35% | ||||||||
| B&M European Value Retail plc | 917,243 | 2,751,729 | ||||||
| CVS Group plc(a) | 249,594 | 4,211,478 | ||||||
| discoverIE Group plc | 157,065 | 1,640,504 | ||||||
| FRP Advisory Group PLC | 929,597 | 1,421,958 | ||||||
| Hill & Smith Holdings plc | 27,840 | 1,069,326 | ||||||
| Marex Group Ltd.(a) | 15,863 | 1,029,826 | ||||||
| Pollen Street Group Ltd(a) | 122,069 | 1,411,526 | ||||||
| Renew Holdings PLC | 145,450 | 1,758,338 | ||||||
| Rosebank Industries plc(a) | 441,782 | 2,000,522 | ||||||
| Shawbrook Group plc(a) | 174,128 | 769,730 | ||||||
| Volution Group PLC(a) | 127,284 | 1,061,844 | ||||||
| 19,126,781 | ||||||||
| United States — 18.73% | ||||||||
| 4imprint Group PLC(a) | 41,922 | 2,326,615 | ||||||
| Abacus Life Inc(a) | 101,919 | 1,050,785 | ||||||
| Alamo Group, Inc. | 9,935 | 1,580,460 | ||||||
| AtriCure, Inc.(a) | 86,173 | 3,253,893 | ||||||
| Core & Main, Inc., Class A(a) | 33,380 | 1,467,719 | ||||||
| Dollar General Corporation | 33,008 | 4,193,666 | ||||||
| Gentex Corporation | 52,921 | 1,236,235 | ||||||
| Global Industrial Company | 25,463 | 910,048 | ||||||
| Haemonetics Corporation(a) | 8,251 | 705,791 | ||||||
| Houlihan Lokey, Inc. (a) | 9,285 | 1,165,175 | ||||||
| Limbach Holdings, Inc.(a) | 13,829 | 991,539 | ||||||
| Mueller Water Products, Inc., Class A, Series A(a) | 40,836 | 1,030,701 | ||||||
| Neogen Corporation(a) | 93,735 | 1,128,569 | ||||||
| Ollie’s Bargain Outlet Holdings, Inc.(a) | 63,847 | 4,690,839 | ||||||
| Power Integrations, Inc. (a) | 2,029 | 123,181 | ||||||
| RxSight, Inc.(a) | 164,817 | 990,550 | ||||||
| 26,845,766 | ||||||||
| Vietnam — 1.79% | ||||||||
| Asia Commercial Bank JSC | 1,719,351 | 1,431,921 | ||||||
| Vietnam Technological & Comm Joint- stock Bank | 1,033,600 | 1,137,919 | ||||||
| 2,569,840 | ||||||||
| Total
Common Stocks (Cost $124,162,180) | 142,088,292 | |||||||
| Total
Common Stocks/ Investments — 99.12% (Cost $124,162,180) | 142,088,292 | |||||||
| Other Assets in Excess of Liabilities — 0.88% | 1,259,218 | |||||||
| NET ASSETS — 100.00% | $ | 143,347,510 | ||||||
| (a) | Non-income producing security. |
| (b) | Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in the ordinary course of business in transactions exempt from registration, normally to qualified institutional buyers. As of July 31, 2026, these securities had a total aggregate market value of $4,727,628, representing 3.30% of net assets. |
| (c) | Security was purchased pursuant to Regulation S under the Securities Act of 1933, which exempts securities offered and sold outside of the United States from registration. Such security cannot be sold in the United States without either an effective registration statement filed pursuant to the Securities Act of 1933, or pursuant to an exemption from registration. As of July 31, 2026, these securities had a total aggregate market value of $4,727,628, representing 3.30% of net assets. |