NPORT-EX 2 edfv2confidential.htm EVENT DRIVEN SOI
WCM Alternatives: Event-Driven Fund
              
SCHEDULE OF INVESTMENTS
              
March 31, 2020 (Unaudited)
              
               
   
Shares
          
Value
  
LONG INVESTMENTS - 98.68%
                  
COMMON STOCKS - 16.81%
                  
AEROSPACE & DEFENSE - 1.27%
                  
United Technologies Corporation (e)
    
27,196
          
$
2,565,399
  
ASSET MANAGEMENT & CUSTODY BANKS - 0.32%
                      
Apollo Global Management, Inc. (j)
    
19,073
            
638,945
  
AUTO PARTS & EQUIPMENT - 0.39%
                      
Delphi Technologies plc (a)(b)
    
99,027
            
797,167
  
AUTOMOTIVE RETAIL - 0.00%
                      
Kaixin Auto Holdings (a)(b)
    
9,742
            
8,476
  
BIOTECHNOLOGY - 0.87%
                      
Forty Seven, Inc. (a)
    
7,040
            
671,757
  
Ra Pharmaceuticals, Inc. (a)
    
22,637
            
1,086,802
  
                   
1,758,559
  
BROADCASTING - 0.67%
                      
Fox Corporation Class A
    
5,874
            
138,803
  
Fox Corporation Class B
    
52,833
            
1,208,819
  
                   
1,347,622
  
CASINOS & GAMING - 0.29%
                      
MGM Resorts International (j)
    
37,700
            
444,860
  
The Stars Group, Inc (a)(b)(f)
    
7,620
            
151,867
  
                   
596,727
  
CHEMICALS - 1.34%
                      
DuPont de Nemours, Inc. (e)(j)
    
74,569
            
2,542,803
  
OMNOVA Solutions, Inc. (a)
    
15,998
            
162,220
  
                   
2,705,023
  
CONSTRUCTION MACHINERY & HEAVY TRUCKS - 0.38%
                      
WABCO Holdings, Inc. (a)
    
5,754
            
777,078
  
ELECTRIC UTILITIES - 0.67%
                      
El Paso Electric Company
    
19,848
            
1,348,870
  
ELECTRICAL EQUIPMENT - 0.26%
                      
Eaton Corporation plc (b)(j)
    
6,900
            
536,061
  
HEALTH CARE EQUIPMENT - 0.17%
                      
Wright Medical Group N.V. (a)(b)
    
12,149
            
348,069
  
INSURANCE - 0.04%
                      
Syncora Holdings Ltd. (b)
    
226,178
            
83,686
  
INSURANCE BROKERS - 0.87%
                      
Willis Towers Watson plc (b)
    
10,376
            
1,762,364
  
INTERACTIVE MEDIA & SERVICES - 0.37%
                      
IAC/InterActiveCorp (a)(e)(j)
    
4,187
            
750,436
  
INTERNET & DIRECT MARKETING RETAIL - 1.26%
                      
eBay, Inc. (e)(j)
    
84,600
            
2,543,076
  
Reebonz Holdings Ltd. (a)(b)
    
597
            
254
  
                   
2,543,330
  
INVESTMENT BANKING & BROKERAGE - 0.69%
                      
E*TRADE Financial Corporation
    
40,795
            
1,400,084
  
IT CONSULTING & OTHER SERVICES - 0.09%
                      
Grid Dynamics Holdings, Inc. (a)
    
22,830
            
182,640
  
LIFE & HEALTH INSURANCE - 0.03%
                      
Genworth Financial, Inc. Class A (a)
    
15,670
            
52,024
  
LIFE SCIENCES TOOLS & SERVICES - 0.19%
                      
Qiagen N.V. (a)(b)
    
9,164
            
381,222
  
METALS & MINING - 0.01%
                      
Pan American Silver Corporation (b)
    
1,947
            
27,900
  
MOVIES & ENTERTAINMENT - 0.01%
                      
Akazoo S.A. (a)(b)
    
7,150
            
20,020
  
OIL & GAS EXPLORATION & PRODUCTION - 0.03%
                      
Callon Petroleum Company (a)
    
116,100
            
63,611
  
OIL & GAS REFINING & MARKETING - 2.20%
                      
Marathon Petroleum Corporation (e)(j)
    
188,600
            
4,454,732
  
OIL & GAS & CONSUMABLE FUELS - 0.00%
                      
Ovintiv, Inc.
    
3,401
            
9,183
  
OTHER DIVERSIFIED FINANCIAL SERVICES - 0.65%
                      
FGL Holdings (b)
    
134,493
            
1,318,031
  
PHARMACEUTICALS - 0.64%
                      
Allergan plc (b)
    
7,273
            
1,288,048
  
REGIONAL BANKS - 0.02%
                      
IBERIABANK Corporation
    
1,330
            
48,093
  
REITs - 0.12%
                      
Digital Realty Trust, Inc.
    
1,813
            
251,800
  
SEMICONDUCTORS - 0.34%
                      
Mellanox Technologies Ltd. (a)(b)(j)
    
5,678
            
688,855
  
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 0.33%
                      
Cypress Semiconductor Corporation
    
28,690
            
669,051
  
SPECIALTY STORES - 0.29%
                      
Tiffany & Company
    
4,501
            
582,879
  
SYSTEMS SOFTWARE - 0.74%
                      
Forescout Technologies, Inc. (a)
    
47,460
            
1,499,261
  
TECHNOLOGY DISTRIBUTORS - 0.76%
                      
Anixter International, Inc. (a)
    
17,465
            
1,534,650
  
TECHNOLOGY HARDWARE, STORAGE & PERIPHERALS - 0.14%
                      
Xerox Holdings Corporation (j)
    
14,600
            
276,524
  
WIRELESS TELECOMMUNICATION SERVICES - 0.36%
                      
T-Mobile USA, Inc. (a)(j)
    
3,731
            
313,031
  
Vodafone Group plc - ADR
    
30,600
            
421,362
  
                   
734,393
  
TOTAL COMMON STOCKS (Cost $41,700,939)
                  
34,050,813
  
                       
SPECIAL PURPOSE ACQUISITION COMPANIES - 13.63% (a)
                      
Act II Global Acquisition Corporation Class A (b)(e)
    
90,858
            
896,769
  
Alberton Acquisition Corporation (b)(e)
    
242,664
            
2,547,972
  
Apex Technology Acquisition Corporation Class A
    
58,964
            
574,899
  
CHP Merger Corporation Class A
    
40,120
            
389,164
  
Churchill Capital Corporation III
    
40,000
            
400,000
  
CIIG Merger Corporation Class A (f)
    
159,548
            
1,526,874
  
Collier Creek Holdings Class A (b)
    
42,300
            
432,729
  
dMY Technology Group, Inc.
    
6,088
            
59,845
  
FinTech Acquisition Corporation III Class A
    
168,874
            
1,690,429
  
Flying Eagle Acquisition Corporation
    
2,472
            
24,646
  
Galileo Acquisition Corporation (b)
    
126,337
            
1,222,942
  
GigCapital2, Inc.
    
37,777
            
375,881
  
Gordon Pointe Acquisition Corporation (f)
    
4,482
            
47,845
  
Gores Holdings IV, Inc.
    
192,546
            
1,938,938
  
Graf Industrial Corporation (e)
    
197,624
            
2,009,836
  
Hennessy Capital Acquisition Corporation IV Class A
    
167,612
            
1,694,557
  
InterPrivate Acquisition Corporation
    
33,893
            
335,202
  
Juniper Industrial Holdings, Inc. Class A
    
165,386
            
1,591,013
  
Legacy Acquisition Corporation Class A
    
197,442
            
2,047,474
  
Leisure Acquisition Corporation (f)
    
5,160
            
52,890
  
LF Capital Acquisition Corporation Class A (f)
    
5,834
            
60,061
  
LGL Systems Acquisition Corporation
    
54,748
            
551,312
  
Monocle Acquisition Corporation
    
15,759
            
158,378
  
Orisun Acquisition Corporation
    
8,528
            
86,900
  
Pivotal Investment Corporation II Class A
    
97,371
            
964,947
  
PropTech Acquisition Corporation Class A (f)
    
98,000
            
958,930
  
SCVX Corporation (b)
    
25,214
            
251,384
  
Software Acquisition Group, Inc. (f)
    
37,274
            
378,145
  
Trident Acquisitions Corporation
    
93,712
            
1,013,964
  
Tuscan Holdings Corporation (e)
    
168,926
            
1,684,192
  
Tuscan Holdings Corporation II
    
146,060
            
1,424,085
  
VectoIQ Acquisition Corporation
    
19,171
            
203,979
  
TOTAL SPECIAL PURPOSE ACQUISITION COMPANIES (Cost $26,756,413)
                  
27,596,182
  
                       
CLOSED-END FUNDS - 2.62%
                      
Apollo Senior Floating Rate Fund, Inc.
    
11,127
            
129,184
  
Apollo Tactical Income Fund, Inc.
    
11,139
            
126,205
  
Ares Dynamic Credit Allocation Fund
    
4,683
            
50,530
  
BlackRock Debt Strategies Fund, Inc.
    
35,063
            
296,282
  
BlackRock Floating Rate Income Strategies Fund, Inc.
    
9,611
            
96,206
  
BlackRock MuniYield Quality Fund III, Inc.
    
57,617
            
736,345
  
Eaton Vance Floating-Rate Income Trust
    
28,528
            
292,412
  
First Trust Senior Floating Rate Income Fund II
    
5,810
            
55,253
  
Invesco Dynamic Credit Opportunities Fund
    
18,617
            
148,564
  
Invesco Senior Income Trust
    
64,480
            
207,626
  
Nuveen AMT-Free Quality Municipal Income Fund
    
55,115
            
746,257
  
Nuveen Intermediate Duration Municipal Term Fund
    
57,365
            
745,171
  
Nuveen Municipal Credit Income Fund
    
48,255
            
678,948
  
Nuveen New York AMT-Free Quality Municipal Income Fund
    
58,257
            
728,213
  
Voya Prime Rate Trust
    
73,819
            
273,868
  
TOTAL CLOSED-END FUNDS (Cost $6,135,511)
                  
5,311,064
  
                       
PREFERRED STOCKS - 2.28%
                      
Freddie Mac, 8.375%, Series Z (a)
    
616,272
            
3,753,097
  
GMAC Capital Trust I, 7.477% ( 3 Month U.S. LIBOR +5.785%), 2/15/2040, Series 2 (i)
    
39,471
            
809,550
  
Pebblebrook Hotel Trust, 6.375%, Series E
    
3,515
            
56,240
  
TOTAL PREFERRED STOCKS (Cost $7,917,849)
                  
4,618,887
  
                       
CONTINGENT VALUE RIGHTS - 0.15% (a)(d)(g)
                      
Alder Biopharmaceuticals, Inc.
    
194,778
            
311,645
  
Media General, Inc. (e)
    
42,852
            
1,285
  
TOTAL CONTINGENT VALUE RIGHTS (Cost $0)
                  
312,930
  
                       
RIGHTS - 0.20% (a)
                      
Bristol-Myers Squibb Company
    
71,628
            
272,186
  
GigCapital2, Inc. (f)
    
37,777
            
14,335
  
Pan American Silver Corporation (a)(b)
    
322,499
            
109,650
  
TOTAL RIGHTS (Cost $475,019)
                  
396,171
  
                       
WARRANTS - 0.30% (a)
                      
Act II Global Acquisition Corporation Class A
                      
Expiration: April 2024, Exercise Price: $11.50 (b)(f)
    
45,429
            
29,529
  
Akazoo S.A.
                      
Expiration: December 2024, Exercise Price: $11.50 (b)(f)
    
35,748
            
11,082
  
Apex Technology Acquisition Corporation Class A
                      
Expiration: September 2026, Exercise Price: $11.50
    
29,482
            
26,534
  
CF Finance Acquisition Corporation Class A
                      
Expiration: April 2025, Exercise Price: $11.50
    
81,375
            
40,687
  
CHP Merger Corporation Class A
                      
Expiration: November 2024, Exercise Price: $11.50
    
20,060
            
10,832
  
CIIG Merger Corporation Class A
                      
Expiration: December 2026, Exercise Price: $11.50 (f)
    
79,774
            
47,466
  
Collier Creek Holdings Class A
                      
Expiration: November 2023, Exercise Price: $11.50 (b)(f)
    
14,100
            
13,113
  
FinTech Acquisition Corporation III Class A
                      
Expiration: December 2023, Exercise Price: $11.50
    
84,437
            
50,662
  
Galileo Acquisition Corporation
                      
Expiration: October 2026, Exercise Price: $11.50 (b)
    
126,337
            
31,597
  
GigCapital2, Inc.
                      
Expiration: July 2024, Exercise Price: $11.50
    
37,777
            
11,662
  
Graf Industrial Corporation
                      
Expiration: December 2025, Exercise Price: $11.50
    
197,624
            
19,762
  
Grid Dynamics Holdings, Inc.
                      
Expiration: September 2023, Exercise Price: $11.50
    
11,415
            
21,688
  
Hennessy Capital Acquisition Corporation IV Class A
                      
Expiration: September 2025, Exercise Price: $11.50
    
125,709
            
43,998
  
International General Insurance Holdings Ltd.
                      
Expiration: March 2025, Exercise Price: $11.50 (b)
    
20,975
            
8,810
  
Juniper Industrial Holdings, Inc. Class A
                      
Expiration: November 2026, Exercise Price: $11.50
    
82,693
            
46,308
  
Kaixin Auto Holdings
                      
Expiration: April 2024, Exercise Price: $11.50 (b)(f)
    
48,712
            
524
  
KLDiscovery, Inc.
                      
Expiration: December 2025, Exercise Price: $11.50
    
10,000
            
1,900
  
Legacy Acquisition Corporation Class A
                      
Expiration: November 2022, Exercise Price: $11.50
    
144,392
            
36,098
  
Monocle Acquisition Corporation
                      
Expiration: December 2024, Exercise Price: $11.50
    
15,759
            
4,728
  
Nebula Acquisition Corporation Class A
                      
Expiration: January 2023, Exercise Price: $11.50
    
16,357
            
16,521
  
Pivotal Investment Corporation II Class A
                      
Expiration: June 2025, Exercise Price: $11.50 (f)
    
32,457
            
16,228
  
PropTech Acquisition Corporation Class A
                      
Expiration: October 2026, Exercise Price: $11.50 (f)
    
49,000
            
24,520
  
Reebonz Holdings Ltd.
                      
Expiration: December 2023, Exercise Price: $11.50 (b)(f)
    
23,859
            
185
  
Tuscan Holdings Corporation
                      
Expiration: April 2026, Exercise Price: $11.50 (e)
    
168,926
            
65,881
  
Tuscan Holdings Corporation II
                      
Expiration: April 2025, Exercise Price: $11.50 (f)
    
73,030
            
21,956
  
TOTAL WARRANTS (Cost $942,592)
                  
602,271
  
                       
   
Principal
Amount
                
BANK LOANS - 5.68% (f)(i)
                      
Avaya Holdings Corporation
                      
4.955% (3 Month U.S. LIBOR + 4.250%), 12/15/2024
  
$
869,585
            
752,191
  
Cengage Learning Holdings II, Inc.
                      
5.250% (3 Month U.S. LIBOR + 4.250%), 6/7/2023
    
1,242,492
            
1,003,312
  
CEOC LLC
                      
3.603% (3 Month U.S. LIBOR + 2.000%), 10/6/2024
    
745,000
            
614,625
  
Claire's Stores, Inc.
                      
8.421% (1 Month U.S. LIBOR + 6.500%), 12/18/2026
    
262,000
            
218,770
  
Heritage Power LLC
                      
7.771% (1 Month U.S. LIBOR + 6.000%), 8/2/2026
    
3,552,150
            
2,930,524
  
McGraw-Hill Global Education Holdings LLC
                      
5.000% (3 Month U.S. LIBOR + 4.000%), 5/4/2022
    
999,819
            
824,851
  
Refinitiv U.S. Holdings, Inc.
                      
4.239% (3 Month U.S. LIBOR + 4.250%), 10/1/2025
    
2,792,293
            
2,695,721
  
RentPath LLC
                      
0.000% (3 Month U.S. LIBOR + 4.750%), 12/17/2021
    
2,956,000
            
2,320,460
  
8.660% (1 Month U.S. LIBOR + 7.000%), 12/14/2025
    
138,073
            
131,859
  
TOTAL BANK LOANS (Cost $12,778,955)
                  
11,492,313
  
                       
CONVERTIBLE BONDS - 1.71% (f)
                      
Caesars Entertainment Corporation
                      
5.000%, 10/1/2024
    
251,397
            
269,004
  
NII Holdings, Inc.
                      
4.250%, 8/15/2023 (h)
    
2,923,000
            
3,186,070
  
TOTAL CONVERTIBLE BONDS (Cost $3,192,702)
                  
3,455,074
  
                       
CORPORATE BONDS - 12.21% (f)
                      
APX Group, Inc.
                      
7.875%, 12/1/2022 (e)
    
3,322,000
            
3,180,750
  
Arconic, Inc.
                      
5.400%, 4/15/2021
    
795,000
            
788,580
  
Bombardier, Inc.
                      
6.000%, 10/15/2022 (b)(h)
    
756,000
            
572,670
  
7.500%, 3/15/2025 (b)(h)
    
1,474,000
            
1,031,800
  
CEC Entertainment, Inc.
                      
8.000%, 2/15/2022
    
2,440,000
            
1,069,784
  
Cincinnati Bell, Inc.
                      
7.000%, 7/15/2024 (h)
    
1,059,000
            
1,073,529
  
Delphi Technologies plc
                      
5.000%, 10/1/2025 (b)(e)(h)
    
2,320,000
            
1,867,600
  
EIG Investors Corporation
                      
10.875%, 2/1/2024
    
1,025,000
            
880,214
  
Genesis Energy LP / Genesis Energy Finance Corporation
                      
6.000%, 5/15/2023
    
3,324,000
            
2,440,132
  
Global A&T Electronics Ltd.
                      
8.500%, 1/12/2023 (b)
    
1,171,000
            
953,066
  
Intel Corporation
                      
2.450%, 11/15/2029
    
185,000
            
188,971
  
Kinetic Concepts, Inc. / KCI USA, Inc.
                      
12.500%, 11/1/2021 (e)(h)
    
3,286,000
            
3,314,588
  
Nielsen Finance LLC / Nielsen Finance Company
                      
5.000%, 4/15/2022 (e)(h)
    
4,022,000
            
3,729,038
  
Refinitiv U.S. Holdings, Inc.
                      
8.250%, 11/15/2026 (h)
    
2,676,000
            
2,829,870
  
Stars Group Holdings BV / Stars Group US Co-Borrower LLC
                      
7.000%, 7/15/2026 (b)(h)
    
390,000
            
368,842
  
T-Mobile USA, Inc.
                      
6.500%, 1/15/2024
    
217,000
            
221,876
  
6.375%, 3/1/2025
    
204,000
            
209,866
  
TOTAL CORPORATE BONDS (Cost $29,537,749)
                  
24,721,176
  
                       
PURCHASED OPTION CONTRACTS - 4.88%
  
Contracts (100
shares per
contract)
    
Notional
Amount
          
PURCHASED CALL OPTIONS - 0.00% (a)
                      
Marathon Petroleum Corporation
                      
Expiration: April 2020, Exercise Price: $50.00
    
658
    
$
1,554,196
      
658
  
                     
658
  
PURCHASED PUT OPTIONS - 4.88% (a)
                        
Apollo Global Management, Inc.
                        
Expiration: April 2020, Exercise Price: $30.00
    
191
      
639,850
      
21,010
  
Bayer AG
                        
Expiration: April 2020, Exercise Price: EUR 46.00 (b)(f)
    
477
      
2,812,139
      
28,409
  
Expiration: April 2020, Exercise Price: EUR 52.00 (b)(f)
    
371
      
2,187,219
      
78,153
  
Expiration: June 2020, Exercise Price: EUR 47.00 (b)(f)
    
275
      
1,621,254
      
95,235
  
BorgWarner, Inc.
                        
Expiration: May 2020, Exercise Price: $20.00
    
407
      
991,859
      
36,630
  
Crown Holdings, Inc.
                        
Expiration: April 2020, Exercise Price: $70.00
    
92
      
533,968
      
110,400
  
Expiration: May 2020, Exercise Price: $48.00
    
462
      
2,681,448
      
78,540
  
DuPont de Nemours, Inc.
                        
Expiration: June 2020, Exercise Price: $37.50
    
189
      
644,490
      
110,092
  
Expiration: June 2020, Exercise Price: $40.00
    
288
      
982,080
      
224,640
  
Eaton Corporation plc
                        
Expiration: April 2020, Exercise Price: $92.50
    
69
      
536,061
      
102,465
  
eBay, Inc.
                        
Expiration: April 2020, Exercise Price: $27.00
    
197
      
592,182
      
6,304
  
Expiration: May 2020, Exercise Price: $26.00
    
1,237
      
3,718,422
      
87,827
  
Expiration: May 2020, Exercise Price: $33.00
    
191
      
574,146
      
73,535
  
Hilton Grand Vacations, Inc.
                        
Expiration: April 2020, Exercise Price: $26.00
    
427
      
673,379
      
452,620
  
Expiration: April 2020, Exercise Price: $29.00
    
907
      
1,430,339
      
1,238,055
  
HP, Inc.
                        
Expiration: April 2020, Exercise Price: $18.00
    
2,057
      
3,570,952
      
308,550
  
Expiration: April 2020, Exercise Price: $20.00
    
533
      
925,288
      
159,367
  
Expiration: May 2020, Exercise Price: $18.00
    
555
      
963,480
      
111,555
  
IAC/InterActiveCorp
                        
Expiration: April 2020, Exercise Price: $170.00
    
53
      
949,919
      
42,400
  
Expiration: April 2020, Exercise Price: $200.00
    
51
      
914,073
      
113,475
  
Industrial Select Sector SPDR Fund
                        
Expiration: April 2020, Exercise Price: $53.00
    
180
      
1,062,180
      
19,260
  
Expiration: April 2020, Exercise Price: $57.00
    
221
      
1,304,121
      
44,200
  
Expiration: May 2020, Exercise Price: $58.00
    
179
      
1,056,279
      
68,915
  
The Madison Square Garden Company Class A
                        
Expiration: May 2020, Exercise Price: $190.00
    
86
      
1,818,126
      
115,240
  
Expiration: May 2020, Exercise Price: $260.00
    
187
      
3,953,367
      
968,660
  
Marathon Petroleum Corporation
                        
Expiration: April 2020, Exercise Price: $25.00
    
339
      
800,718
      
101,700
  
Expiration: April 2020, Exercise Price: $32.50
    
111
      
262,182
      
98,568
  
Expiration: May 2020, Exercise Price: $15.00
    
1,097
      
2,591,114
      
81,178
  
Expiration: June 2020, Exercise Price: $45.00
    
339
      
800,718
      
744,105
  
Masco Corporation
                        
Expiration: April 2020, Exercise Price: $38.00
    
268
      
926,476
      
96,480
  
Expiration: April 2020, Exercise Price: $39.00
    
130
      
449,410
      
60,450
  
Expiration: April 2020, Exercise Price: $41.00
    
1,176
      
4,065,432
      
756,168
  
Materials Select Sector SPDR Fund
                        
Expiration: April 2020, Exercise Price: $42.00
    
358
      
1,612,432
      
42,602
  
MGM Resorts International
                        
Expiration: April 2020, Exercise Price: $27.00
    
377
      
444,860
      
602,258
  
Ra Pharmaceuticals, Inc.
                        
Expiration: April 2020, Exercise Price: $40.00
    
8
      
38,408
      
40
  
SPDR S&P 500 ETF Trust
                        
Expiration: April 2020, Exercise Price: $245.00
    
119
      
3,067,225
      
84,609
  
Expiration: April 2020, Exercise Price: $255.00
    
45
      
1,159,875
      
45,450
  
Expiration: May 2020, Exercise Price: $237.00
    
60
      
1,546,500
      
60,150
  
T-Mobile USA, Inc.
                        
Expiration: May 2020, Exercise Price: $72.50
    
303
      
2,542,170
      
66,963
  
VanEck Vectors Semiconductor ETF
                        
Expiration: April 2020, Exercise Price: $110.00
    
263
      
3,080,782
      
87,579
  
Vodafone Group plc
                        
Expiration: April 2020, Exercise Price: $14.00
    
392
      
539,784
      
22,540
  
Expiration: April 2020, Exercise Price: $17.00
    
1,175
      
1,617,975
      
385,400
  
Expiration: April 2020, Exercise Price: $18.00
    
1,101
      
1,516,077
      
465,723
  
Expiration: May 2020, Exercise Price: $15.00
    
1,101
      
1,516,077
      
201,483
  
Xerox Holdings Corporation
                        
Expiration: May 2020, Exercise Price: $27.00
    
146
      
276,524
      
119,720
  
Expiration: July 2020, Exercise Price: $31.00
    
647
      
1,225,418
      
811,985
  
XPO Logistics, Inc.
                        
Expiration: May 2020, Exercise Price: $40.00
    
239
      
1,165,125
      
62,140
  
Expiration: May 2020, Exercise Price: $70.00
    
83
      
404,625
      
180,940
  
                     
9,873,768
  
TOTAL PURCHASED OPTIONS (Cost $3,313,444)
                    
9,874,426
  
                         
   
Shares
                  
ESCROW NOTES - 7.25% (a)
                        
Altaba, Inc. (e)(f)
    
707,352
              
14,677,554
  
AMR Corporation (d)(g)
    
28,850
              
4,039
  
Sentinel Energy Services, Inc. Class B (d)(g)
    
127,242
              
700
  
TOTAL ESCROW NOTES (Cost $14,484,307)
                    
14,682,293
  
                         
                         
SHORT-TERM INVESTMENTS - 30.96%
                        
MONEY MARKET FUNDS - 9.10% (c)(e)
                        
The Government & Agency Portfolio, Institutional Share Class, 0.44%
    
8,445,943
              
8,445,943
  
JPMorgan U.S. Government Money Market Fund, Institutional Share Class, 0.36%
    
9,975,000
              
9,975,000
  
                     
18,420,943
  
   
Principal
Amount
                  
U.S. TREASURY BILLS - 21.86% (e)(f)(k)
                        
United States Treasury Bills
                        
0.97%, 4/2/2020
  
$
1,867,000
              
1,867,000
  
0.53%, 4/7/2020
    
5,102,000
              
5,101,946
  
0.71%, 4/9/2020
    
4,620,000
              
4,619,956
  
1.55%, 4/16/2020
    
475,000
              
474,988
  
1.54%, 4/23/2020
    
3,360,000
              
3,359,941
  
1.47%, 4/30/2020
    
906,000
              
905,962
  
1.49%, 5/7/2020
    
2,105,000
              
2,104,871
  
1.49%, 5/14/2020
    
575,000
              
574,932
  
1.50%, 5/21/2020
    
2,320,000
              
2,319,725
  
1.49%, 5/28/2020
    
675,000
              
674,890
  
0.18%, 6/18/2020
    
5,875,000
              
5,873,676
  
1.47%, 7/9/2020
    
475,000
              
474,885
  
1.47%, 7/16/2020
    
1,545,000
              
1,544,591
  
1.46%, 7/23/2020
    
5,010,000
              
5,008,486
  
1.46%, 7/30/2020
    
480,000
              
479,832
  
1.40%, 8/20/2020
    
3,020,000
              
3,018,563
  
1.15%, 8/27/2020
    
2,745,000
              
2,743,770
  
0.27%, 9/10/2020
    
3,130,000
              
3,128,218
  
                     
44,276,232
  
TOTAL SHORT-TERM INVESTMENTS (Cost $62,620,574)
                    
62,697,175
  
TOTAL LONG INVESTMENTS (Cost $209,856,054) - 98.68%
                    
199,810,775
  
                         
SHORT INVESTMENTS - (1.79)%
                        
U.S. GOVERNMENT NOTES/BONDS - (1.79)% (f)(k)
                        
1.38%, 1/31/2025
    
(3,284,000
)
            
(3,441,273
)
1.75%, 11/15/2029
    
(176,000
)
            
(193,503
)
TOTAL U.S. GOVERNMENT NOTES/BONDS (Proceeds $3,497,749)
                    
(3,634,776
)
TOTAL SHORT INVESTMENTS (Proceeds $3,497,749) - (1.79)%
                    
(3,634,776
)
TOTAL NET INVESTMENTS (Cost $206,358,305) - 96.89%
                    
196,175,999
  
OTHER ASSETS IN EXCESS OF LIABILITIES - 3.11%
                    
6,300,104
  
TOTAL NET ASSETS - 100.00%
                  
$
202,476,103
  
ADR
  
- American Depository Receipt
          
ETF
  
- Exchange-Traded Fund
          
EUR
  
- Euro
          
LIBOR
  
- London Interbank Offered Rate
          
plc
  
- Public Limited Company
          
REITs
  
- Real Estate Investment Trusts
          
(a)
  
Non-income producing security.
          
(b)
  
Foreign security.
          
(c)
  
The rate quoted is the annualized seven-day yield as of March 31, 2020.
          
(d)
  
Security fair valued by the Valuation Group in good faith in accordance with the policies adopted by the Board of Trustees.
    
(e)
  
All or a portion of the shares have been committed as collateral for open securities sold short, written option contracts, swap contracts, and forward currency exchange contracts.
(f)
  
Level 2 Security. Please see footnote (l) on the Schedule of Investments for more information.
        
(g)
  
Level 3 Security. Please see footnote (l) on the Schedule of Investments for more information.
        
(h)
  
Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration normally to qualified institutional buyers. As of March 31, 2020, these securities represent 8.88% of total net assets.
(i)
  
The coupon rate shown on variable rate securities represents the rate as of March 31, 2020.
          
(j)
  
This security is held in connection with a written option contract.
          
(k)
  
The rate shown represents yield to maturity.
          
(l)
  
Investment Valuation
          
   
The following is a summary of the Fund’s pricing procedures. It is intended to be a general discussion and may not necessarily reflect all pricing procedures followed by the Fund.
               
   
Equity securities, including common and preferred stocks, closed-end funds and ETFs, that trade on an exchange will typically be valued based on the last reported sale price. Securities listed on NASDAQ are typically valued using the NASDAQ Official Closing Price. The securities valued using quoted prices in active markets are classified as Level 1 investments. If, on a particular day, an exchange-listed security does not trade, then the mean between the closing bid and asked prices will typically be used to value the security. These securities are classified as Level 2 investments. Fixed income securities having a maturity of greater than 60 days are  typically valued based on evaluations provided by an independent pricing vendor. Investments in United States government securities (other than short-term  securities) are valued at the mean between the 4:00 p.m. New York time bid and asked prices supplied by a third party vendor. Short-term fixed-income securities having a maturity of less than 60 days are valued at market quotations or based on valuations supplied by a third party pricing service. If a reliable price from a  third party pricing service is unavailable, amortized cost may be used if it is determined that the instrument’s amortized cost value represents approximately the fair value of the security. These securities are classified as Level 2 investments.
               
   
Investments in Special Purpose Acquisition Companies, including their related units, shares, rights and warrants (each a “SPAC interest”), will typically be valued by reference to the last reported transaction for the composite exchange. These securities are classified as Level 1 investments. If, on a particular day, no reliable market transaction is readily available and reported for the composite exchange, then the mean between the closing bid and asked prices on the composite exchange will be used to value the SPAC interest, or the SPAC interest will be fair valued in accordance with the Fund’s pricing procedures. These securities are classified as Level 2 investments.
               
   
Exchange-traded options are typically valued at the higher of the intrinsic value of the option (i.e., what a Fund would pay or can receive upon the option being exercised) or the last reported composite sale price when such sale falls between the bid and asked prices. Notwithstanding the above, options that trade principally on a European exchange are typically valued at the “settlement price” as reported by the exchange on which the option principally trades. If the settlement price for a European exchange-traded option is unreliable or unavailable, the option will generally be valued at the last reported sale price. When the last sale of an exchange-traded option is outside the bid and asked prices, the Fund will typically value the option at the higher of the intrinsic value of the option or the mean between the highest end of day option bid price and the lowest end of day option ask price. On the stipulated expiration date, expiring options will be priced at intrinsic value. Options for which there is an active market are classified as Level 1 investments, but options not listed on an exchange and/or are fair valued in accordance with the Fund’s pricing procedures are classified as Level 2 investments.
               
   
Investments in registered open-end investment companies, including Money Market Funds, are typically valued at their reported net asset value (“NAV”) per share. These securities are generally classified as Level 1 investments.
               
   
Forward currency contracts are valued daily at the prevailing forward exchange rate. These securities are generally classified as Level 2.
               
   
In general, swap prices are determined using the same methods as would be used to price the underlying security. When the underlying security is the subject of a completed corporate reorganization for which the final deal terms are known, the swap is priced at the value of the consideration to be received by the Fund. The credit quality of counterparties and collateral is monitored and the valuation of a swap may be adjusted if it is believed that the credit quality of the counterparty or collateral affects the market value of the swap position. These securities are generally classified as Level 2 investments.
   
The Fund typically fair values securities and assets for which (a) market quotations are not readily available or (b) market quotations are believed to be unrepresentative of market value. For example, the Fund may fair value a security that primarily trades on an exchange that closes before the New York Stock Exchange (“NYSE”) if a significant event occurs after the close of the exchange on which the security primarily trades but before the NYSE closes. Fair valuations are determined in good faith by the Valuation Group (the “Valuation Group”), a committee comprised of persons who are officers of the Trust or representatives of the Adviser, acting pursuant to procedures adopted by the Board. When fair value pricing is employed, the prices of securities used by the Fund to calculate its NAV may differ from quoted or published prices for the same securities. In addition, due to the subjective nature of fair value pricing, it is possible that the value determined for a particular asset may be materially different from the value realized upon such asset’s sale. These securities are generally classified as Level 2 or 3 depending on the inputs as described below.
               
   
The Fund has performed an analysis of all existing investments to determine the significance and character of all inputs to their fair value determination. Various inputs are used in determining the value of the Fund’s investments. These inputs are summarized in the three broad levels listed below:
   
Level 1 — Quoted prices in active markets for identical securities.
          
   
Level 2 — Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
   
Level 3 — Significant unobservable inputs are those inputs that reflect the applicable Fund’s own assumptions that market participants would use to price the asset or liability based on the best available information.
               
   
The inputs or methodology used for valuing securities are not an indication of the risk associated with investing in those securities.
               
   
The following tables provide the fair value measurements of applicable Fund assets and liabilities by level within the fair value hierarchy for the Fund as of March 31, 2020. These assets and liabilities are measured on a recurring basis.

 
Investments at Fair Value
  
Level 1
    
Level 2
    
Level 3
    
Total
  
 
Assets
                        
 
Common Stocks*
  
$
33,898,946
    
$
151,867
    
$
-
    
$
34,050,813
  
 
Special Purpose Acquisition Companies
    
24,571,437
      
3,024,745
      
-
      
27,596,182
  
 
Closed-End Funds
    
5,311,064
      
-
      
-
      
5,311,064
  
 
Preferred Stocks
    
4,618,887
      
-
      
-
      
4,618,887
  
 
Contingent Value Rights
    
-
      
-
      
312,930
      
312,930
  
 
Rights
    
381,836
      
14,335
      
-
      
396,171
  
 
Warrants
    
437,668
      
164,603
      
-
      
602,271
  
 
Bank Loans
    
-
      
11,492,313
      
-
      
11,492,313
  
 
Convertible Bonds
    
-
      
3,455,074
      
-
      
3,455,074
  
 
Corporate Bonds
    
-
      
24,721,176
      
-
      
24,721,176
  
 
Purchased Option Contracts
    
9,672,629
      
201,797
      
-
      
9,874,426
  
 
Escrow Notes
    
-
      
14,677,554
      
4,739
      
14,682,293
  
 
Short-Term Investments
    
18,420,943
      
44,276,232
      
-
      
62,697,175
  
 
Forward Currency Exchange Contracts**
    
-
      
673,014
      
-
      
673,014
  
 
Total
  
$
97,313,410
    
$
102,852,710
    
$
317,669
    
$
200,483,789
  
                                   
 
Liabilities
                                
 
Short U.S. Government Notes/Bonds
  
$
-
    
$
(3,634,776
)
  
$
-
    
$
(3,634,776
)
 
Written Option Contracts
    
(2,464,219
)
    
(381,868
)
    
-
      
(2,846,087
)
 
Swap Contracts**
    
-
      
(19,006,235
)
    
-
      
(19,006,235
)
 
Total
  
$
(2,464,219
)
  
$
(23,022,879
)
  
$
-
    
$
(25,487,098
)
                                   
 
* Please refer to the Schedules of Investments to view long/short common stocks segregated by industry type.
  
 
** Swap contracts and forward currency exchange contracts are valued at the net unrealized appreciation (depreciation) on the instrument by counterparty.
  

   
The Level 2 securities are priced using inputs such as current yields, discount rates, credit quality, yields on comparable securities, trading volume, maturity date, market bid and asked prices, prices on comparable securities and other significant inputs. Level 3 securities are valued by using broker quotes or such other pricing sources or data as are permitted by the Fund’s pricing procedures. At March 31, 2020, the value of these securities was $317,669. The inputs for these securities are not readily available or cannot be reasonably estimated and are generally those inputs as described in footnote (l). The appropriateness of fair values for these securities is monitored by the Valuation Group on an ongoing basis.
   
During the period ended March 31, 2020, the value of securities transferred out of Level 2 and into Level 3 was $313,630. These securities were transferred out of Level 2 and into Level 3 due to decreased market activity and the availability of broker valuations.
               
   
Level 3 Reconciliation Disclosure
          
   
The following is a reconciliation of Level 3 assets for which significant unobservable inputs were used to determine fair value.
    

 
Description
  
Contingent Value Rights
    
Escrow Notes
    
Total Investment
  
 
Balance as of December 31, 2019
  
$
-
    
$
6,636
    
$
6,636
  
 
Purchases on Investments
    
-
      
-
      
-
  
 
(Sales) of Investments
    
-
      
-
      
-
  
 
Realized (Gain) Loss
    
-
      
-
      
-
  
 
Transfers Into Level 3
    
312,930
      
700
      
313,630
  
 
(Transfer Out) of Level 3
    
-
      
-
      
-
  
 
Change in Unrealized Appreciation (Depreciation)
    
-
      
(2,597
)
    
(2,597
)
 
Balance as of March 31, 2020
  
$
312,930
    
$
4,739
    
$
317,669
  
                           
 
Change in unrealized appreciation (depreciation)
    during the period for Level 3 investments held at
    March 31, 2020.
  
$
128,184
    
$
(2,597
)
  
$
125,587
  

The realized and unrealized gains and losses from Level 3 transactions are included with the net realized gain (loss) on investments and net change in unrealized appreciation (depreciation) on investments on the Statement of Operations, respectively. The net change in unrealized depreciation on investments related to Level 3 securities held by the Fund at March 31, 2020 totals $(2,597).
           
The Global Industry Classification Standard (GICS®) was developed by and/or is the exclusive property of MSCI, Inc. 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. Bancorp Fund Services, LLC, doing business as U.S Bank Global Fund Services.
WCM Alternatives: Event-Driven Fund
          
SCHEDULE OF INVESTMENTS
          
Open Written Options
              
March 31, 2020 (Unaudited)
          
           
 
Contracts (100 shares
per contract)
 
Notional Amount
 
Value
WRITTEN CALL OPTIONS
            
Apollo Global Management, Inc.
              
Expiration: April 2020, Exercise Price: $38.00
(191)
$
                 (639,850)
   $
                    (19,100)
Bayer AG
              
Expiration: June 2020, Exercise Price: EUR 55.00 (a)(b)
(275)
    
(1,621,254)
    
                        (84,923)
BorgWarner, Inc.
              
Expiration: May 2020, Exercise Price: $27.50
(407)
    
(991,859)
    
                        (46,805)
Expiration: May 2020, Exercise Price: $30.00
(302)
    
(735,974)
    
                        (17,365)
Crown Holdings, Inc.
              
Expiration: May 2020, Exercise Price: $52.50
(462)
    
(2,681,448)
    
                      (371,910)
DuPont de Nemours, Inc.
              
Expiration: June 2020, Exercise Price: $45.00
(477)
    
(1,626,570)
    
                        (39,114)
Eaton Corporation plc
              
Expiration: April 2020, Exercise Price: $100.00
(69)
    
(536,061)
    
                             (690)
eBay, Inc.
              
Expiration: April 2020, Exercise Price: $33.00
(197)
    
(592,182)
    
                          (8,077)
Expiration: May 2020, Exercise Price: $29.00
(846)
    
(2,543,076)
    
                      (229,689)
Expiration: May 2020, Exercise Price: $30.00
(391)
    
(1,175,346)
    
                        (84,065)
Expiration: May 2020, Exercise Price: $36.00
(191)
    
(574,146)
    
                          (5,730)
Fitbit, Inc. Class A
              
Expiration: May 2020, Exercise Price: $8.00
(22)
    
(14,652)
    
                               (44)
Hilton Grand Vacations, Inc.
              
Expiration: April 2020, Exercise Price: $30.00
(427)
    
(673,379)
    
                          (1,067)
Expiration: April 2020, Exercise Price: $34.00
(907)
    
(1,430,339)
    
                          (2,268)
HP, Inc.
              
Expiration: April 2020, Exercise Price: $21.00
(1,743)
    
(3,025,848)
    
                        (43,575)
Expiration: April 2020, Exercise Price: $22.00
(820)
    
(1,423,520)
    
                        (13,530)
Expiration: April 2020, Exercise Price: $23.00
(28)
    
(48,608)
    
                             (182)
Expiration: May 2020, Exercise Price: $20.00
(555)
    
(963,480)
    
                        (37,185)
IAC/InterActiveCorp
              
Expiration: April 2020, Exercise Price: $180.00
(27)
    
(483,921)
    
                        (34,560)
Expiration: April 2020, Exercise Price: $185.00
(26)
    
(465,998)
    
                        (21,580)
Expiration: April 2020, Exercise Price: $220.00
(51)
    
(914,073)
    
                          (4,462)
Industrial Select Sector SPDR Fund
              
Expiration: April 2020, Exercise Price: $60.00
(90)
    
(531,090)
    
                        (20,340)
Legg Mason, Inc.
              
Expiration: May 2020, Exercise Price: $50.00
(1)
    
(4,885)
    
                               (30)
The Madison Square Garden Company Class A
              
Expiration: May 2020, Exercise Price: $230.00
(86)
    
(1,818,126)
    
                      (102,770)
Expiration: May 2020, Exercise Price: $290.00
(187)
    
(3,953,367)
    
                        (30,388)
Marathon Petroleum Corporation
              
Expiration: April 2020, Exercise Price: $32.50
(339)
    
(800,718)
    
                          (3,390)
Expiration: April 2020, Exercise Price: $37.50
(111)
    
(262,182)
    
                             (555)
Expiration: April 2020, Exercise Price: $55.00
(578)
    
(1,365,236)
    
                             (578)
Expiration: April 2020, Exercise Price: $57.50
(80)
    
(188,960)
    
                             (360)
Expiration: May 2020, Exercise Price: $20.00
(1,097)
    
(2,591,114)
    
                      (597,865)
Expiration: June 2020, Exercise Price: $52.50
(339)
    
(800,718)
    
                          (2,373)
Masco Corporation
              
Expiration: April 2020, Exercise Price: $42.00
(268)
    
(926,476)
    
                          (3,350)
Expiration: April 2020, Exercise Price: $46.00
(1,116)
    
(3,858,012)
    
                        (11,160)
Mellanox Technologies Ltd.
              
Expiration: June 2020, Exercise Price: $125.00
(46)
    
(558,072)
    
                          (2,300)
MGM Resorts International
              
Expiration: April 2020, Exercise Price: $30.00
(377)
    
(444,860)
    
                             (188)
SPDR S&P 500 ETF Trust
              
Expiration: April 2020, Exercise Price: $265.00
(29)
    
(747,475)
    
                        (17,371)
Expiration: April 2020, Exercise Price: $270.00
(60)
    
(1,546,500)
    
                        (23,340)
Expiration: April 2020, Exercise Price: $275.00
(45)
    
(1,159,875)
    
                        (10,260)
T-Mobile USA, Inc.
              
Expiration: April 2020, Exercise Price: $80.00
(105)
    
(880,950)
    
                        (56,963)
Expiration: April 2020, Exercise Price: $85.00
(150)
    
(1,258,500)
    
                        (43,500)
Expiration: April 2020, Exercise Price: $90.00
(247)
    
(2,072,330)
    
                        (25,441)
Expiration: May 2020, Exercise Price: $82.50
(293)
    
(2,458,270)
    
                      (184,590)
VanEck Vectors Semiconductor ETF
              
Expiration: April 2020, Exercise Price: $125.00
(80)
    
(937,120)
    
                        (17,000)
Xerox Holdings Corporation
              
Expiration: May 2020, Exercise Price: $30.00
(146)
    
(276,524)
    
                             (730)
Expiration: July 2020, Exercise Price: $35.00
(647)
    
(1,225,418)
    
                        (35,909)
XPO Logistics, Inc.
              
Expiration: May 2020, Exercise Price: $45.00
(239)
    
(1,165,125)
    
                      (198,370)
Expiration: May 2020, Exercise Price: $77.50
(83)
    
(404,625)
    
                             (581)
             
                    (2,455,623)
 WRITTEN PUT OPTIONS
            
Bayer AG
              
Expiration: April 2020, Exercise Price: EUR 50.00 (a)(b)
(477)
    
(2,812,139)
    
                        (65,760)
Expiration: April 2020, Exercise Price: EUR 58.00 (a)(b)
(371)
    
(2,187,219)
    
                      (231,185)
Fitbit, Inc. Class A
              
Expiration: May 2020, Exercise Price: $6.00
(3)
    
(1,998)
    
                               (33)
Industrial Select Sector SPDR Fund
              
Expiration: April 2020, Exercise Price: $45.00
(120)
    
(708,120)
    
                          (3,240)
Expiration: April 2020, Exercise Price: $50.00
(221)
    
(1,304,121)
    
                        (15,691)
Expiration: May 2020, Exercise Price: $45.00
(179)
    
(1,056,279)
    
                        (15,931)
Materials Select Sector SPDR Fund
              
Expiration: April 2020, Exercise Price: $33.00
(283)
    
(1,274,632)
    
                          (4,669)
SPDR S&P 500 ETF Trust
              
Expiration: April 2020, Exercise Price: $190.00
(225)
    
(5,799,375)
    
                        (18,450)
VanEck Vectors Semiconductor ETF
              
Expiration: April 2020, Exercise Price: $100.00
(263)
    
(3,080,782)
    
                        (35,505)
             
                       (390,464)
TOTAL WRITTEN OPTIONS
            
 
(Premiums received $6,958,243)
           $
                 (2,846,087)
 
ETF - Exchange-Traded Fund
              
EUR - Euro
              
plc - Public Limited Company
              
(a) Foreign Security.
(b) Level 2 Security. Please see footnote (l) on the Schedule of Investments for more information.
WCM Alternatives: Event-Driven Fund
                  
SCHEDULE OF INVESTMENTS
                    
Forward Currency Exchange Contracts
                    
March 31, 2020 (Unaudited)
                    
                           
Unrealized
Settlement
            
USD Value at
        
USD Value at
  
Appreciation
Date
  
Counterparty
  
Currency to be Delivered
  
March 31, 2020
  
Currency to be Received
  
March 31, 2020
  
(Depreciation)*
7/7/2020
  
JPM
  
3,020,793
AUD
  
 $                                  1,858,468
  
1,985,394
USD
  
 $                                  1,985,394
  
$                                                        126,926
3/17/2021
  
JPM
  
8,340,265
EUR
  
9,303,651
  
9,423,247
USD
  
9,423,247
  
119,596
3/17/2021
  
JPM
  
14,609
USD
  
14,609
  
13,453
EUR
  
15,007
  
398
4/22/2020
  
JPM
  
3,638,645
EUR
  
4,016,562
  
4,087,025
USD
  
4,087,025
  
70,463
4/22/2020
  
JPM
  
2,680,358
USD
  
2,680,358
  
2,424,917
EUR
  
2,676,774
  
(3,584)
4/23/2020
  
JPM
  
1,322,725
EUR
  
1,460,171
  
1,422,005
USD
  
1,422,005
  
(38,166)
4/27/2020
  
GS
  
148,625
EUR
  
164,098
  
166,408
USD
  
166,408
  
2,310
4/27/2020
  
JPM
  
8,866,149
EUR
  
9,789,203
  
9,925,388
USD
  
9,925,388
  
136,185
4/29/2020
  
JPM
  
1,406,000
EUR
  
1,552,518
  
1,556,976
USD
  
1,556,976
  
4,458
4/29/2020
  
JPM
  
363,584
USD
  
363,584
  
330,624
EUR
  
365,078
  
1,494
5/6/2020
  
JPM
  
203,344
EUR
  
224,595
  
220,661
USD
  
220,661
  
(3,934)
5/20/2020
  
GS
  
118,388
EUR
  
130,829
  
133,277
USD
  
133,277
  
2,448
5/20/2020
  
JPM
  
995,297
EUR
  
1,099,887
  
1,109,634
USD
  
1,109,634
  
9,747
6/15/2020
  
GS
  
2,558,880
EUR
  
2,830,488
  
2,854,714
USD
  
2,854,714
  
24,226
7/8/2020
  
JPM
  
1,474,911
EUR
  
1,632,724
  
1,633,367
USD
  
1,633,367
  
643
5/7/2020
  
JPM
  
38,765,713
HKD
  
4,999,504
  
4,971,816
USD
  
4,971,816
  
(27,688)
5/7/2020
  
JPM
  
4,982,740
USD
  
4,982,740
  
38,765,713
HKD
  
4,999,503
  
16,763
5/11/2020
  
JPM
  
382,910,260
JPY
  
3,568,265
  
3,573,697
USD
  
3,573,697
  
5,432
5/12/2020
  
JPM
  
94,449,600
JPY
  
880,187
  
875,727
USD
  
875,727
  
(4,460)
5/12/2020
  
JPM
  
451,844
USD
  
451,844
  
49,392,000
JPY
  
460,290
  
8,446
6/22/2020
  
JPM
  
223,668,900
JPY
  
2,087,563
  
2,085,102
USD
  
2,085,102
  
(2,461)
6/26/2020
  
JPM
  
117,237,942
JPY
  
1,094,385
  
1,066,701
USD
  
1,066,701
  
(27,684)
6/4/2020
  
JPM
  
3,692,332
NZD
  
2,202,082
  
2,390,231
USD
  
2,390,231
  
188,149
4/9/2020
  
GS
  
13,018,143
SEK
  
1,316,240
  
1,379,547
USD
  
1,379,547
  
63,307
             
$                              58,704,555
        
$                              59,377,569
  
$                                                        673,014
                             
AUD
- Australian Dollar
                    
EUR
- Euro
                        
GS
- Goldman, Sachs & Co.
                    
HKD
- Hong Kong Dollar
                    
JPM
- JPMorgan Chase & Co., Inc.
                  
JPY
- Japanese Yen
                    
NZD
- New Zealand Dollar
                    
SEK
- Swedish Krona
                    
USD
- U.S. Dollar
                        
*
Net unrealized appreciation (depreciation) is a receiveable (payable).
        
 
                            
WCM Alternatives: Event-Driven Fund
                  
SCHEDULE OF INVESTMENTS
                  
Open Swap Contracts
                    
March 31, 2020 (Unaudited)
                    
                   
Unrealized
  



Pay/Receive on
Financing
Payment
Notional
 
Appreciation
  
Counterparty
Security
Termination Date
Financing Rate
Rate
Frequency
Shares
 Amount
 
(Depreciation)*
  
LONG TOTAL RETURN SWAP CONTRACTS
                  
GS
Advanced Disposal Services, Inc.
3/18/2021
Pay
0.500% +1 Month U.S. LIBOR
Monthly
62,030
$          1,924,702
    $
                            109,141
  
BAML
Allergan plc
1/27/2021
Pay
0.750% +1 Month U.S. LIBOR
Monthly
89,413
           16,775,868
    
                              (975,194)
  
BAML
Altran Technologies S.A.
3/27/2021
Pay
0.350% +1 Month U.S. LIBOR
Monthly
83,647
             1,346,717
    
                                  27,823
  
JPM
Axalta Coating Systems Ltd.
10/28/2020
Pay
0.300% +3 Month U.S. LIBOR
Quarterly
13,755
                409,486
    
                              (172,128)
  
JPM
Bayer AG
1/27/2021
Pay
0.400% +3 Month U.S. LIBOR
Quarterly
27,500
             2,237,505
    
                              (635,775)
  
JPM
BlackRock MuniYield Quality Fund III, Inc.
3/11/2021
Pay
0.300% +3 Month U.S. LIBOR
Quarterly
85,655
             1,031,835
    
                                  62,442
  
GS
Bolsas y Mercados Espanoles
11/19/2020
Pay
0.500% +1 Month U.S. LIBOR
Monthly
19,267
                753,609
    
                                (51,438)
  
JPM
Bolsas y Mercados Espanoles
12/20/2020
Pay
0.400% +3 Month U.S. LIBOR
Quarterly
13,700
                524,553
    
                                (25,306)
  
BAML
Bristol-Myers Squibb Company
11/21/2020
Pay
0.000% (1)
Monthly
25,034
                          -
(1)
  
                                  95,129
  
GS
Broadmark Realty Capital, Inc.
1/29/2021
Pay
0.600% +1 Month U.S. LIBOR
Monthly
97,084
             1,229,947
    
                              (500,468)
  
GS
Caesars Entertainment Corporation
1/29/2021
Pay
0.500% +1 Month U.S. LIBOR
Monthly
468,262
             6,077,215
    
                           (2,914,497)
  
JPM
Caltex Australia Ltd.
2/25/2021
Pay
0.400% +3 Month U.S. LIBOR
Quarterly
84,262
             1,877,724
    
                              (721,885)
  
GS
CF Finance Acquisition Corporation Class A
1/29/2021
Pay
1.100% +1 Month U.S. LIBOR
Monthly
108,500
             1,130,548
    
                                (14,819)
  
GS
Craft Brew Alliance, Inc.
2/28/2021
Pay
0.500% +1 Month U.S. LIBOR
Monthly
154,271
             2,363,843
    
                                (66,316)
  
GS
Crown Holdings, Inc.
3/17/2021
Pay
0.500% +1 Month U.S. LIBOR
Monthly
55,400
             2,788,282
    
                                426,011
  
BAML
Cypress Semiconductor Corporation
8/26/2020
Pay
0.750% +1 Month U.S. LIBOR
Monthly
456,201
           10,365,652
    
                                251,029
  
GS
Delphi Technologies plc
2/27/2021
Pay
0.500% +1 Month U.S. LIBOR
Monthly
300,000
             4,056,000
    
                           (1,642,078)
  
BAML
Dupont De Nemours, Inc.
4/2/2020
Pay
0.400% +1 Month U.S. LIBOR
Monthly
2,280
                181,917
    
                              (104,520)
  
JPM
Dupont De Nemours, Inc.
2/25/2021
Pay
0.300% +3 Month U.S. LIBOR
Quarterly
45,453
             2,157,654
    
                              (608,758)
  
GS
E*TRADE Financial Corporation
2/28/2021
Pay
0.500% +1 Month U.S. LIBOR
Monthly
106,668
             4,149,841
    
                              (490,596)
  
GS
eBay, Inc.
3/18/2021
Pay
0.500% +1 Month U.S. LIBOR
Monthly
77,900
             2,438,270
    
                                (97,578)
  
BAML
Faurecia S.E.
11/14/2020
Pay
0.417% +1 Month U.S. LIBOR
Monthly
6,795
                335,612
    
                              (131,642)
  
BAML
Fiat Chrysler Automobiles N.V.
11/14/2020
Pay
0.417% +1 Month U.S. LIBOR
Monthly
164,925
             2,303,134
    
                           (1,111,851)
  
JPM
First Trust Senior Floating Rate Income Fund II
12/6/2020
Pay
0.800% +3 Month U.S. LIBOR
Quarterly
12,108
                147,287
    
                                (32,246)
  
BAML
Fitbit, Inc. Class A
2/18/2021
Pay
0.750% +1 Month U.S. LIBOR
Monthly
218,755
             1,406,470
    
                                  47,270
  
GS
GrandVision N.V.
1/7/2021
Pay
0.500% +1 Month U.S. LIBOR
Monthly
90,038
             2,705,570
    
                              (229,957)
  
JPM
Hilton Grand Vacations, Inc.
10/11/2020
Pay
0.300% +3 Month U.S. LIBOR
Quarterly
133,420
             4,441,100
    
                           (2,339,257)
  
BAML
Hitachi Chemical Company Ltd.
12/23/2020
Pay
0.500% +1 Month U.S. LIBOR
Monthly
15,213
                636,579
    
                                  12,625
  
JPM
Hitachi Chemical Company Ltd.
12/30/2020
Pay
0.400% +3 Month U.S. LIBOR
Quarterly
67,489
             2,872,280
    
                                    7,166
  
GS
HP, Inc.
3/17/2021
Pay
0.500% +1 Month U.S. LIBOR
Monthly
314,500
             4,528,800
    
                                929,096
  
JPM
IAC/InterActiveCorp
10/21/2020
Pay
0.300% +3 Month U.S. LIBOR
Quarterly
6,300
             1,419,957
    
                              (291,510)
  
JPM
Innogy S.E.
6/6/2020
Pay
0.400% +3 Month U.S. LIBOR
Quarterly
34,699
             1,650,732
    
                                  (1,822)
  
GS
Invesco Municipal Opportunity Trust
3/11/2021
Pay
0.500% +1 Month U.S. LIBOR
Monthly
47,566
                548,640
    
                                  (4,252)
  
JPM
Keihin Corporation
4/2/2021
Pay
0.400% +3 Month U.S. LIBOR
Quarterly
28,768
                676,947
    
                                  (1,391)
  
GS
Legg Mason, Inc.
3/9/2021
Pay
0.500% +1 Month U.S. LIBOR
Monthly
80,495
             3,848,167
    
                                  82,470
  
JPM
Liberty Media Corporation - Liberty SiriusXM Class C
12/17/2020
Pay
0.300% +3 Month U.S. LIBOR
Quarterly
11,359
                535,479
    
                              (176,572)
  
JPM
Line Corporation
11/20/2020
Pay
0.400% +3 Month U.S. LIBOR
Quarterly
22,140
             1,052,050
    
                                  20,151
  
GS
LogMeIn, Inc.
3/19/2021
Pay
0.500% +1 Month U.S. LIBOR
Monthly
41,200
             3,247,742
    
                                184,127
  
JPM
The Madison Square Garden Company Class A
10/31/2020
Pay
0.300% +3 Month U.S. LIBOR
Quarterly
27,300
             6,598,426
    
                              (830,111)
  
GS
Masco Corporation
3/9/2021
Pay
0.500% +1 Month U.S. LIBOR
Monthly
157,400
             6,247,068
    
                              (810,147)
  
JPM
Mellanox Technologies Ltd.
5/14/2020
Pay
0.300% +3 Month U.S. LIBOR
Quarterly
28,335
             3,320,371
    
                                115,589
  
JPM
Metlifecare Ltd.
1/21/2021
Pay
0.400% +3 Month U.S. LIBOR
Quarterly
527,476
             2,345,897
    
                           (1,151,060)
  
JPM
Nissin Kogyo Company Ltd.
4/2/2021
Pay
0.400% +3 Month U.S. LIBOR
Quarterly
33,074
                678,679
    
                                     (743)
  
JPM
Nuveen AMT-Free Municipal Credit Income Fund
3/11/2021
Pay
0.300% +3 Month U.S. LIBOR
Quarterly
38,528
                563,661
    
                                    1,686
  
JPM
Nuveen AMT-Free Quality Municipal Income Fund
3/11/2021
Pay
0.300% +3 Month U.S. LIBOR
Quarterly
160,868
             2,066,897
    
                                110,565
  
JPM
Nuveen California Quality Municipal Income Fund
3/11/2021
Pay
0.300% +3 Month U.S. LIBOR
Quarterly
40,893
                562,615
    
                                  (3,043)
  
JPM
Nuveen Intermediate Duration Municipal Term Fund
3/11/2021
Pay
0.300% +3 Month U.S. LIBOR
Quarterly
44,435
                563,154
    
                                  13,809
  
JPM
Nuveen Municipal Credit Income Fund
3/11/2021
Pay
0.300% +3 Month U.S. LIBOR
Quarterly
39,155
                559,802
    
                                  (9,148)
  
JPM
Nuveen New York AMT-Free Quality Municipal Income Fund
3/11/2021
Pay
0.300% +3 Month U.S. LIBOR
Quarterly
85,021
             1,033,486
    
                                  28,809
  
GS
Nuveen New York Quality Municipal Income Fund
3/11/2021
Pay
0.500% +1 Month U.S. LIBOR
Monthly
40,575
                545,799
    
                                     (710)
  
JPM
Osram Licht AG
12/6/2020
Pay
0.400% +3 Month U.S. LIBOR
Quarterly
174,568
             7,660,557
    
                                103,946
  
BAML
Osram Licht AG
12/16/2020
Pay
0.350% +1 Month U.S. LIBOR
Monthly
8,364
                378,460
    
                                  (7,254)
  
GS
Osram Licht AG
12/17/2020
Pay
0.500% +1 Month U.S. LIBOR
Monthly
37,366
             1,691,619
    
                                (29,519)
  
GS
Pure Acquisition Corporation
1/29/2021
Pay
1.100% +1 Month U.S. LIBOR
Monthly
57,469
                599,775
    
                                  (3,061)
  
JPM
Qiagen N.V.
3/3/2021
Pay
0.400% +3 Month U.S. LIBOR
Quarterly
204,376
             8,454,168
    
                                  43,935
  
GS
Ra Pharmaceuticals, Inc.
2/11/2021
Pay
0.500% +1 Month U.S. LIBOR
Monthly
69,513
             3,225,132
    
                                110,331
  
JPM
Renault S.A.
4/3/2020
Pay
0.400% +3 Month U.S. LIBOR
Quarterly
25,418
             1,502,409
    
                           (1,006,801)
  
BAML
Renault S.A.
5/29/2020
Pay
0.350% +1 Month U.S. LIBOR
Monthly
3,000
                179,398
    
                              (121,144)
  
JPM
RIB Software S.E.
2/24/2021
Pay
0.400% +3 Month U.S. LIBOR
Quarterly
50,859
             1,607,048
    
                                  (5,896)
  
JPM
Royal Dutch Shell plc Class B - ADR
3/6/2021
Pay
0.300% +3 Month U.S. LIBOR
Quarterly
40,950
             1,636,352
    
                              (299,347)
  
JPM
SHOWA Corporation
4/2/2021
Pay
0.400% +3 Month U.S. LIBOR
Quarterly
32,372
                677,128
    
                                       870
  
JPM
SLM Corporation, 4.311%, Series B
2/10/2021
Pay
1.100% +3 Month U.S. LIBOR
Quarterly
35,769
             2,074,602
    
                              (880,240)
  
GS
Sprint Corporation
3/9/2021
Pay
0.500% +1 Month U.S. LIBOR
Monthly
749,057
             6,037,399
    
                                417,075
  
GS
The Stars Group, Inc.
2/24/2021
Pay
0.500% +1 Month U.S. LIBOR
Monthly
314,085
             7,823,857
    
                           (1,567,295)
  
GS
Swedol AB
1/17/2021
Pay
0.500% +1 Month U.S. LIBOR
Monthly
279,962
             1,352,565
    
                                (37,999)
  
JPM
Tallgrass Energy LP Class A
9/26/2020
Pay
0.300% +3 Month U.S. LIBOR
Quarterly
13,740
                284,449
    
                                (58,429)
  
GS
Tallgrass Energy LP Class A
11/13/2020
Pay
0.500% +1 Month U.S. LIBOR
Monthly
149,016
             3,101,037
    
                              (649,905)
  
JPM
Taubman Centers, Inc.
2/28/2021
Pay
0.300% +3 Month U.S. LIBOR
Quarterly
110,209
             5,528,719
    
                              (915,766)
  
GS
TD Ameritrade Holdings Corporation
2/12/2021
Pay
0.500% +1 Month U.S. LIBOR
Monthly
196,061
             8,956,838
    
                           (2,166,961)
  
BAML
Tech Data Corporation
2/27/2021
Pay
0.750% +1 Month U.S. LIBOR
Monthly
44,199
             5,876,795
    
                                (99,046)
  
GS
Tiffany & Company
2/28/2021
Pay
0.500% +1 Month U.S. LIBOR
Monthly
69,931
             9,289,557
    
                              (238,610)
  
GS
United Technologies Corporation
2/24/2021
Pay
0.500% +1 Month U.S. LIBOR
Monthly
50,000
             7,329,000
    
                           (2,614,632)
  
JPM
Unizo Holdings Company Ltd.
11/12/2020
Pay
0.400% +3 Month U.S. LIBOR
Quarterly
8,046
                368,178
    
                                  78,353
  
GS
Vodafone Group plc - ADR
2/20/2021
Pay
0.500% +1 Month U.S. LIBOR
Monthly
362,100
             7,242,000
    
                           (2,259,002)
  
GS
WABCO Holdings, Inc.
1/27/2021
Pay
0.500% +1 Month U.S. LIBOR
Monthly
40,931
             5,511,585
    
                                  13,664
  
JPM
Western Asset High Income Opportunity Fund
3/18/2021
Pay
0.800% +3 Month U.S. LIBOR
Quarterly
191,266
                629,263
    
                                175,574
  
GS
Willis Towers Watson plc
3/12/2021
Pay
0.500% +1 Month U.S. LIBOR
Monthly
14,499
             2,505,427
    
                                (44,457)
  
GS
Wright Medical Group N.V.
11/26/2020
Pay
0.500% +1 Month U.S. LIBOR
Monthly
294,715
             8,658,668
    
                              (219,469)
  
GS
Xerox Holdings Corporation
3/18/2021
Pay
0.500% +1 Month U.S. LIBOR
Monthly
64,700
             1,086,960
    
                                138,020
  
GS
XPO Logistics, Inc.
2/20/2021
Pay
0.500% +1 Month U.S. LIBOR
Monthly
32,200
             3,191,342
    
                           (1,622,966)
  
                       
SHORT TOTAL RETURN SWAP CONTRACTS
                
BAML
AbbVie, Inc.
10/4/2020
Receive
(0.232)% +1 Month U.S. LIBOR
Monthly
(83,740)
           (6,609,750)
    
                                236,536
  
JPM
American Airlines Group, Inc.
2/25/2021
Receive
(0.600)% +3 Month U.S. LIBOR
Quarterly
(194)
                  (4,485)
    
                                    2,121
  
GS
Aon plc
3/19/2021
Receive
(0.350)% + U.S. Federal Funds
Monthly
(26,847)
           (4,143,054)
    
                              (288,036)
  
GS
BorgWarner, Inc.
2/14/2021
Receive
(0.350)% + U.S. Federal Funds
Monthly
(48,252)
           (1,506,961)
    
                                330,986
  
GS
The Charles Schwab Corporation
12/5/2020
Receive
(0.350)% + U.S. Federal Funds
Monthly
(212,469)
           (9,588,396)
    
                             2,444,442
  
JPM
Daimler AG
4/3/2020
Receive
(0.462)% +3 Month U.S. LIBOR
Quarterly
(1,525)
                (81,561)
    
                                  35,287
  
JPM
Digital Realty Trust, Inc.
12/10/2020
Receive
(0.600)% +3 Month U.S. LIBOR
Quarterly
(1,813)
              (213,191)
    
                                (38,633)
  
GS
Eldorado Resorts, Inc.
12/20/2020
Receive
(0.520)% + U.S. Federal Funds
Monthly
(45,990)
           (2,534,688)
    
                             1,872,551
  
GS
Fidelity National Financial, Inc.
3/13/2021
Receive
(0.350)% + U.S. Federal Funds
Monthly
(13,769)
              (410,566)
    
                                  67,971
  
GS
First Horizon National Corporation
3/19/2021
Receive
(0.350)% + U.S. Federal Funds
Monthly
(6,094)
                (51,799)
    
                                    2,678
  
GS
Flutter Entertainment
10/2/2020
Receive
(0.350)% + U.S. Federal Funds
Monthly
(34,732)
           (3,765,763)
    
                                610,044
  
JPM
Flutter Entertainment
10/23/2020
Receive
(0.619)% +3 Month U.S. LIBOR
Quarterly
(37,763)
           (3,731,152)
    
                                300,599
  
GS
International Flavors & Fragrances, Inc.
3/17/2021
Pay
(2.126)% + U.S. Federal Funds
Monthly
(14,168)
           (1,551,113)
    
                                104,511
  
GS
Morgan Stanley
2/28/2021
Receive
(0.350)% + U.S. Federal Funds
Monthly
(153,847)
           (6,143,170)
    
                                911,852
  
JPM
Nissan Motor Company Ltd.
4/3/2020
Receive
(0.462)% +3 Month U.S. LIBOR
Quarterly
(171,229)
           (1,168,027)
    
                                600,339
  
BAML
Pan American Silver Corporation
2/20/2021
Receive
(0.400)% +1 Month U.S. LIBOR
Monthly
(17,975)
              (447,757)
    
                                191,202
  
BAML
Peugeot S.A.
11/14/2020
Receive
(0.350)% +1 Month U.S. LIBOR
Monthly
(93,993)
           (2,113,482)
    
                                854,706
  
GS
Raytheon Company
3/19/2021
Pay
(0.350)% + U.S. Federal Funds
Monthly
(33,554)
           (4,071,442)
    
                              (329,496)
  
JPM
Royal Dutch Shell plc Class A - ADR
3/6/2021
Receive
(0.600)% +3 Month U.S. LIBOR
Quarterly
(40,950)
           (1,638,625)
    
                                209,909
  
JPM
SiriusXM Holdings
1/29/2021
Receive
(0.600)% +3 Month U.S. LIBOR
Quarterly
(117,749)
              (833,663)
    
                                252,059
  
BAML
WESCO International, Inc.
2/20/2021
Receive
(0.400)% +1 Month U.S. LIBOR
Monthly
(3,715)
                (94,913)
    
                                  10,048
  
                   $
                   (19,006,235)
  
ADR
- American Depository Receipt
                  
BAML
- Bank of America Merrill Lynch & Co., Inc.
              
GS
- Goldman, Sachs & Co.
                  
JPM
- JPMorgan Chase & Co., Inc.
                  
LIBOR
- London Interbank Offered Rate
                  
plc
- Public Limited Company
                  
U.S. Federal Funds
- U.S. Federal Funds Effective Rate
                
*
Based on the net swap value held at each counterparty, unrealized appreciation (depreciation) is a receivable (payable).
(1)
Security held is the direct result of a corporate action. There is no associated financing rate and the security is held with a zero cost basis.