PORTFOLIO OF INVESTMENTS – as of February 29, 2020(Unaudited) 

Vaughan Nelson Select Fund 

Shares					Description			Value (†)
Common Stocks – 98.7% of Net Assets
					Aerospace & Defense – 4.0%
		24,540			General Dynamics Corp.	$		3,918,793
		20,740			Raytheon Co.			3,910,734
								7,829,527
					Air Freight & Logistics – 3.2%
		44,650			FedEx Corp.			6,303,241
					Banks – 2.3%
		71,225			Citigroup, Inc.			4,519,939
					Biotechnology – 5.7%
		129,975			AbbVie, Inc.			11,140,157
					Capital Markets – 7.8%
		213,075			Charles Schwab Corp. (The)			8,682,806
		11,340			Moody's Corp.			2,721,940
		194,700			Virtu Financial, Inc., Class A			3,662,307
								15,067,053
					Chemicals – 4.5%
		16,740			Sherwin-Williams Co. (The)			8,650,395
					Diversified Financial Services – 3.1%
		29,025			Berkshire Hathaway, Inc., Class B(a)			5,989,019
					Entertainment – 10.7%
		111,625			Electronic Arts, Inc.(a)			11,315,426
		80,325			Walt Disney Co. (The)			9,450,236
								20,765,662
					Health Care Providers & Services – 4.1%
		31,015			UnitedHealth Group, Inc.			7,907,584
					Industrial Conglomerates – 2.8%
		15,455			Roper Technologies, Inc.			5,435,524
					Interactive Media & Services – 5.1%
		51,780			Facebook, Inc., Class A(a)			9,966,097
					IT Services – 3.6%
		24,045			MasterCard, Inc., Class A			6,979,061
					Life Sciences Tools & Services – 3.5%
		23,255			Thermo Fisher Scientific, Inc.			6,762,554
					Metals & Mining – 2.8%
		193,400			Wheaton Precious Metals Corp.			5,511,900
					Oil, Gas & Consumable Fuels – 9.3%
		452,150			Cameco Corp.			3,924,662
		241,575			Enterprise Products Partners LP			5,638,360
Shares				Description			Value (†)
Common Stocks – continued
				Oil, Gas & Consumable Fuels – continued
		1,517,375			Kosmos Energy Ltd.	$		4,627,994
		32,200			Pioneer Natural Resources Co.			3,953,516
								18,144,532
					Pharmaceuticals – 2.5%
		36,650			Johnson & Johnson			4,928,692
					Road & Rail – 5.9%
		171,100			Knight-Swift Transportation Holdings, Inc.			5,464,934
		37,300			Union Pacific Corp.			5,960,913
								11,425,847
					Semiconductors & Semiconductor Equipment – 7.8%
		274,775			ON Semiconductor Corp.(a)			5,127,301
		52,450			QUALCOMM, Inc.			4,106,835
		51,350			Texas Instruments, Inc.			5,861,089
								15,095,225
					Software – 5.6%
		66,625			Microsoft Corp.			10,793,916
					Specialty Retail – 4.4%
		39,020			Home Depot, Inc. (The)			8,500,117
					Total Common Stocks (Identified Cost $180,284,164)			191,716,042
Principal Amount
Short-Term Investments – 1.1%
$		2,121,068			Tri-Party Repurchase Agreement with Fixed Income Clearing Corporation, dated 2/28/2020 at 0.900% to be repurchased at $2,121,227 on 3/02/2020 collateralized by $2,110,000 U.S. Treasury Note, 2.500% due 2/15/2022 valued at $2,167,698 including accrued interest(b) (Identified Cost $2,121,068)			2,121,068
					Total Investments – 99.8% (Identified Cost $182,405,232)			193,837,110
					Other assets less liabilities – 0.2%			384,948
					Net Assets – 100.0%	$		194,222,058
		(†)	Fund securities and other investments are valued at market value based on market quotations obtained or determined by independent pricing services recommended by the adviser or subadviser and approved by the Board of Trustees. Fund securities and other investments for which market quotations are not readily available are valued at fair value as determined in good faith by the adviser or subadviser pursuant to procedures approved by the Board of Trustees, as described below. Market value is determined as follows: Listed equity securities (including shares of closed-end investment companies and exchange-traded funds) are valued at the last sale price quoted on the exchange where they are traded most extensively or, if there is no reported sale during the day, the closing bid quotation as reported by an independent pricing service. Securities traded on the NASDAQ Global Select Market, NASDAQ Global Market and NASDAQ Capital Market are valued at the NASDAQ Official Closing Price ("NOCP"), or if lacking an NOCP, at the most recent bid quotations on the applicable NASDAQ Market. Unlisted equity securities (except unlisted preferred equity securities) are valued at the last sale price quoted in the market where they are traded most extensively or, if there is no reported sale during the day, the closing bid quotation as reported by an independent pricing service. If there is no last sale price or closing bid quotation available, unlisted equity securities will be valued using evaluated bids furnished by an independent pricing service, if available. In some foreign markets, an official close price and a last sale price may be available from the foreign exchange or market. In those cases, the official close price is used. Debt securities and unlisted preferred equity securities are valued based on evaluated bids furnished to the Fund by an independent pricing service or bid prices obtained from broker-dealers. Broker-dealer bid prices may be used to value debt and unlisted equity securities where an independent pricing service is unable to price a security or where an independent pricing service does not provide a reliable price for the security. Domestic exchange-traded single name equity option contracts (including options on exchange-traded funds) are valued at the mean of the National Best Bid and Offer quotations. Option contracts on domestic indices are valued at the average of the closing bid and ask quotations as of the close of trading on the Chicago Board Options Exchange ("Cboe"). Fund securities and other investments for which market quotations are not readily available are valued at fair value as determined in good faith by the adviser or subadviser pursuant to procedures approved by the Board of Trustees. On the last business day of the month, the Fund fair values S&P 500® Index options pursuant to procedures approved by the Board of Trustees. Prior to October 1, 2019, the Fund fair valued S&P 500® Index options using the closing rotation values published by the Cboe. The Fund may also value securities and other investments at fair value in other circumstances such as when extraordinary events occur after the close of a foreign market but prior to the close of the New York Stock Exchange. This may include situations relating to a single issuer (such as a declaration of bankruptcy or a delisting of the issuer's security from the primary market on which it has traded) as well as events affecting the securities markets in general (such as market disruptions or closings and significant fluctuations in U.S. and/or foreign markets). When fair valuing its securities or other investments, the Fund may, among other things, use modeling tools or other processes that may take into account factors such as securities or other market activity and/or significant events that occur after the close of the foreign market and before the time the Fund's net asset value ("NAV") is calculated. Fair value pricing may require subjective determinations about the value of a security, and fair values used to determine the Fund's NAV may differ from quoted or published prices, or from prices that are used by others, for the same securities. In addition, the use of fair value pricing may not always result in adjustments to the prices of securities held by the Fund. The books and records of the Fund are maintained in U.S. dollars. The values of securities, currencies and other assets and liabilities denominated in currencies other than U.S. dollars are translated into U.S. dollars based upon foreign exchange rates prevailing at the end of the period.
	(a)		Non-income producing security.
	(b)		The Fund may enter into repurchase agreements, under the terms of a Master Repurchase Agreement, under which the Fund acquires securities as collateral and agrees to resell the securities at an agreed upon time and at an agreed upon price. It is the Fund's policy that the market value of the collateral for repurchase agreements be at least equal to 102% of the repurchase price, including interest. Certain repurchase agreements are tri-party arrangements whereby the collateral is held in a segregated account for the benefit of the Fund and on behalf of the counterparty. Repurchase agreements could involve certain risks in the event of default or insolvency of the counterparty, including possible delays or restrictions upon the Fund's ability to dispose of the underlying securities. As of February 29, 2020, the Fund had an investment in a repurchase agreement for which the value of the related collateral exceeded the value of the repurchase agreement.

Fair Value Measurements.  In accordance with accounting standards related to fair value measurements and disclosures, the Fund has categorized the inputs utilized in determining the value of the Fund’s assets or liabilities. These inputs are summarized in the three broad levels listed below:  

• Level 1 – quoted prices in active markets for identical assets or liabilities;  

• Level 2 – prices determined using other significant inputs that are observable either directly, or indirectly through corroboration with observable market data (which could include quoted prices for similar assets or liabilities, interest rates, credit risk, etc.); and 

• Level 3 – prices determined using significant unobservable inputs when quoted prices or observable inputs are unavailable such as when there is little or no market activity for an asset or liability (unobservable inputs reflect the Fund’s own assumptions in determining the fair value of assets or liabilities and would be based on the best information available).  

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.  

The following is a summary of the inputs used to value the Fund’s investments as of February 29, 2020, at value: 

Asset Valuation Inputs
Description		Level 1		Level 2		Level 3		Total
Common Stocks*	$	191,716,042	$	-	$	-	$	191,716,042
Short-Term Investments		-		2,121,068		-		2,121,068
Total	$	191,716,042	$	2,121,068	$	-	$	193,837,110

* Details of the major categories of the Fund’s investments are reflected within the Portfolio of Investments. 

For the period ended February 29, 2020, there were no transfers among Levels 1, 2 and 3. 

Industry Summary at February 29, 2020 (Unaudited)
Entertainment	10.7	%
Oil, Gas & Consumable Fuels	9.3
Semiconductors & Semiconductor Equipment	7.8
Capital Markets	7.8
Road & Rail	5.9
Biotechnology	5.7
Software	5.6
Interactive Media & Services	5.1
Chemicals	4.5
Specialty Retail	4.4
Health Care Providers & Services	4.1
Aerospace & Defense	4.0
IT Services	3.6
Life Sciences Tools & Services	3.5
Air Freight & Logistics	3.2
Diversified Financial Services	3.1
Metals & Mining	2.8
Industrial Conglomerates	2.8
Pharmaceuticals	2.5
Banks	2.3
Short-Term Investments	1.1
Total Investments	99.8
Other assets less liabilities	0.2
Net Assets	100.0	%