| Number of Shares | Value | |
| COMMON STOCKS — 96.5% | ||
| ARGENTINA — 2.7% | ||
| 5,420 | Globant S.A.* | $1,094,298 |
| AUSTRALIA — 3.9% | ||
| 4,010 | Atlassian Corp. - Class A* | 782,391 |
| 214,700 | Steadfast Group Ltd. | 822,648 |
| 1,605,039 | ||
| BELGIUM — 2.7% | ||
| 5,100 | D'ieteren Group | 1,131,255 |
| BERMUDA — 2.3% | ||
| 10,140 | Arch Capital Group Ltd.* | 937,342 |
| BRAZIL — 2.7% | ||
| 92,960 | NU Holdings Ltd. - Class A* | 1,109,013 |
| CANADA — 9.4% | ||
| 16,000 | Celestica, Inc.* | 719,040 |
| 270 | Constellation Software, Inc. | 737,487 |
| 1,560 | Lululemon Athletica, Inc.* | 609,414 |
| 43,210 | PrairieSky Royalty Ltd. | 846,273 |
| 5,930 | TFI International, Inc. | 945,578 |
| 3,857,792 | ||
| CHINA — 2.2% | ||
| 94,400 | Shenzhou International Group Holdings Ltd. | 893,718 |
| DENMARK — 2.7% | ||
| 8,610 | Novo Nordisk A.S. - Class B | 1,104,426 |
| FAROE ISLANDS — 1.8% | ||
| 11,880 | Bakkafrost P/F | 762,680 |
| FRANCE — 6.9% | ||
| 14,190 | Edenred S.E. | 757,188 |
| 7,560 | Gaztransport Et Technigaz S.A. | 1,129,636 |
| 3,420 | Sartorius Stedim Biotech | 975,193 |
| 2,862,017 | ||
| GERMANY — 3.1% | ||
| 17,090 | Scout24 S.E. | 1,288,065 |
| Number of Shares | Value | |
| COMMON STOCKS (Continued) | ||
| IRELAND — 6.8% | ||
| 3,520 | Flutter Entertainment PLC* | $701,512 |
| 7,000 | Ryanair Holdings PLC - ADR | 1,019,130 |
| 4,890 | STERIS PLC | 1,099,370 |
| 2,820,012 | ||
| ISRAEL — 2.0% | ||
| 3,650 | Monday.com Ltd.* | 824,425 |
| ITALY — 3.3% | ||
| 53,390 | Davide Campari-Milano N.V. | 536,492 |
| 11,160 | Moncler S.p.A. | 832,936 |
| 1,369,428 | ||
| JAPAN — 10.0% | ||
| 4,720 | Disco Corp. | 1,720,814 |
| 12,428 | GMO Payment Gateway, Inc. | 799,224 |
| 26,600 | Kobe Bussan Co., Ltd. | 651,558 |
| 3,367 | Lasertec Corp. | 954,851 |
| 4,126,447 | ||
| MEXICO — 1.7% | ||
| 72,570 | Grupo Aeroportuario del Centro Norte S.A.B. de C.V. | 713,325 |
| NETHERLANDS — 9.7% | ||
| 590 | Adyen N.V.* | 998,080 |
| 2,300 | ASM International N.V. | 1,404,218 |
| 7,750 | Elastic N.V.* | 776,860 |
| 8,650 | Euronext N.V. | 823,098 |
| 4,002,256 | ||
| NORWAY — 1.4% | ||
| 302,620 | AutoStore Holdings Ltd.* | 559,746 |
| PERU — 1.9% | ||
| 4,650 | Credicorp Ltd. | 787,850 |
| SOUTH KOREA — 1.4% | ||
| 31,360 | Coupang, Inc.* | 557,894 |
| SWEDEN — 4.9% | ||
| 7,130 | Evolution A.B. | 886,321 |
| 12,910 | Saab A.B. - Class B | 1,148,199 |
| 2,034,520 |
| Number of Shares | Value | |
| COMMON STOCKS (Continued) | ||
| SWITZERLAND — 3.9% | ||
| 560 | Mettler-Toledo International, Inc.* | $745,522 |
| 2,920 | Sika A.G. | 869,622 |
| 1,615,144 | ||
| TAIWAN — 1.8% | ||
| 26,000 | Jentech Precision Industrial Co., Ltd. | 733,607 |
| UNITED KINGDOM — 7.3% | ||
| 38,850 | 3i Group PLC | 1,377,378 |
| 28,550 | Compass Group PLC | 837,077 |
| 25,950 | Halma PLC | 775,585 |
| 2,990,040 | ||
| TOTAL COMMON STOCKS | ||
| (Cost $31,894,624) | 39,780,339 | |
| WARRANTS — 0.0% | ||
| CANADA — 0.0% | ||
| 345 | Constellation Software, Inc. (Expires 4/01/2040)*,1 | — |
| TOTAL WARRANTS | ||
| (Cost $0) | — | |
| SHORT-TERM INVESTMENTS — 3.4% | ||
| 1,395,695 | Morgan Stanley Institutional Liquidity Treasury Portfolio - Institutional Class, 5.09%2 | 1,395,695 |
| TOTAL SHORT-TERM INVESTMENTS | ||
| (Cost $1,395,695) | 1,395,695 | |
| TOTAL INVESTMENTS — 99.9% | ||
| (Cost $33,290,319) | 41,176,034 | |
| Other Assets in Excess of Liabilities — 0.1% | 43,993 | |
| TOTAL NET ASSETS — 100.0% | $41,220,027 |
| ADR – American Depository Receipt |
| PLC – Public Limited Company |
| * | Non-income producing security. |
| 1 | Level 3 securities fair valued under procedures established by the Board of Trustees, represents 0.00% of Total Net Assets. The total value of these securities is $0. |
| 2 | The rate is the annualized seven-day yield at period end. |