# EDGAR Filing Document

**Accession Number:** 0001261788
**File Stem:** 0001145549-23-001541
**Filing Date:** 2023-1
**Character Count:** 242506
**Document Hash:** aa1cf369d3bf045775191268b4ea07bb
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-23-001541.hdr.sgml**: 20230117

**ACCESSION NUMBER**: 0001145549-23-001541

**CONFORMED SUBMISSION TYPE**: NPORT-P/A

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20220930

**FILED AS OF DATE**: 20230117

**DATE AS OF CHANGE**: 20230117

**PERIOD START**: 20230630

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Trust for Advised Portfolios
- **CENTRAL INDEX KEY:** 0001261788
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** NPORT-P/A
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-21422
- **FILM NUMBER:** 23531314

**BUSINESS ADDRESS:**
- **STREET 1:** 615 EAST MICHIGAN STREET
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53202
- **BUSINESS PHONE:** 414-287-3700

**MAIL ADDRESS:**
- **STREET 1:** 615 EAST MICHIGAN STREET
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53202

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ZIEGLER CAPITAL MANAGEMENT INVESTMENT TRUST
- **DATE OF NAME CHANGE:** 20130128

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ZIEGLER LOTSOFF CAPITAL MANAGEMENT INVESTMENT TRUST
- **DATE OF NAME CHANGE:** 20110803

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** LOTSOFF CAPITAL MANAGEMENT INVESTMENT TRUST
- **DATE OF NAME CHANGE:** 20050915

## Series and Classes Contracts Data

### Fulcrum Diversified Absolute Return Fund (Series ID: S000050264)

| Class ID   | Class Name                | Ticker Symbol   |
|:---|:---|:---|
| C000158697 | Super Institutional Class | FARYX           |
| C000158698 | Institutional Class       | FARIX           |
| C000158699 | Advisor Class             | FARAX           |

## Nport-Ex

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Fulcrum Diversified Absolute Return Fund** |  |  |  |  |  |
| Consolidated Schedule of Investments (Unaudited) |  |  |  |  |  |
| September 30, 2022 |  |  |  |  |  |
| **COMMON STOCKS - 5.3%** |  |  | **Shares** |  | **Value** |
| **Aerospace/Defense - 0.0%** |  |  |  |  |  |
| Dassault Aviation SA <sup>(1)</sup> |  |  | 45 |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5160 |
| L3Harris Technologies, Inc. |  |  | 100 |  | 20783 |
| Saab AB <sup>(1)</sup> |  |  | 86 |  | 2694 |
| Thales SA <sup>(1)</sup> |  |  | 68 |  | 7530 |
|  |  |  |  |  | 36167 |
| **Agriculture - 0.1%** |  |  |  |  |  |
| Archer-Daniels-Midland Co. |  |  | 1004 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 80772 |
| **Apparel - 0.1%** |  |  |  |  |  |
| adidas AG <sup>(1)</sup> |  |  | 49 |  | 5709 |
| Canada Goose Holdings, Inc. <sup>(1)(2)</sup> |  |  | 361 |  | 5493 |
| Descente Ltd. <sup>(1)</sup> |  |  | 166 |  | 3814 |
| Gildan Activewear, Inc. <sup>(1)</sup> |  |  | 459 |  | 12976 |
| Hermes International <sup>(1)</sup> |  |  | 25 |  | 29818 |
| LVMH Moet Hennessy Louis Vuitton SE <sup>(1)</sup> |  |  | 116 |  | 69393 |
| NIKE, Inc. |  |  | 703 |  | 58433 |
| Skechers USA, Inc. <sup>(2)</sup> |  |  | 407 |  | 12910 |
|  |  |  |  |  | 198546 |
| **Auto Parts & Equipment - 0.0%** |  |  |  |  |  |
| Aptiv Plc - ADR <sup>(2)</sup> |  |  | 69 |  | 5397 |
| NGK Spark Plug Co Ltd. <sup>(1)</sup> |  |  | 1177 |  | 20835 |
|  |  |  |  |  | 26232 |
| **Banks - 0.5%** |  |  |  |  |  |
| 1st Source Corp. |  |  | 35 |  | 1621 |
| Banco Santander SA <sup>(1)</sup> |  |  | 12555 |  | 29500 |
| Bank of America Corp. |  |  | 1845 |  | 55719 |
| BNP Paribas SA <sup>(1)</sup> |  |  | 2463 |  | 105256 |
| Canadian Western Bank <sup>(1)</sup> |  |  | 396 |  | 6447 |
| Cathay General Bancorp |  |  | 210 |  | 8077 |
| Comerica, Inc. |  |  | 109 |  | 7750 |
| Cullen/Frost Bankers, Inc. |  |  | 50 |  | 6611 |
| DNB Bank ASA <sup>(1)</sup> |  |  | 797 |  | 12652 |
| East West Bancorp, Inc. |  |  | 110 |  | 7385 |
| Enterprise Financial Services Corp. |  |  | 92 |  | 4052 |
| Fifth Third Bancorp |  |  | 160 |  | 5114 |
| First Busey Corp. |  |  | 98 |  | 2154 |
| First Citizens BancShares Inc/NC |  |  | 12 |  | 9569 |
| First Horizon Corp. |  |  | 426 |  | 9755 |
| German American Bancorp, Inc. |  |  | 22 |  | 786 |
| Hope Bancorp, Inc. |  |  | 489 |  | 6181 |
| Huntington Bancshares Inc/OH |  |  | 297 |  | 3914 |
| JPMorgan Chase & Co. |  |  | 682 |  | 71269 |
| KeyCorp |  |  | 774 |  | 12399 |
| Lakeland Financial Corp. |  |  | 102 |  | 7427 |
| Macquarie Group Ltd. <sup>(1)</sup> |  |  | 547 |  | 53442 |
| Morgan Stanley |  |  | 379 |  | 29945 |
| National Australia Bank Ltd. <sup>(1)</sup> |  |  | 5320 |  | 98039 |
| New York Community Bancorp, Inc. |  |  | 1903 |  | 16233 |
| Old National Bancorp/IN |  |  | 1191 |  | 19616 |
| PacWest Bancorp |  |  | 542 |  | 12249 |
| PNC Financial Services Group, Inc./The |  |  | 92 |  | 13747 |
| Premier Financial Corp. |  |  | 89 |  | 2287 |
| Prosperity Bancshares, Inc. |  |  | 78 |  | 5201 |
| Royal Bank of Canada <sup>(1)</sup> |  |  | 283 |  | 25480 |
| Signature Bank/New York NY |  |  | 65 |  | 9815 |
| SpareBank 1 SMN <sup>(1)</sup> |  |  | 132 |  | 1350 |
| SpareBank 1 SR-Bank ASA <sup>(1)</sup> |  |  | 144 |  | 1349 |
| Standard Chartered Plc <sup>(1)</sup> |  |  | 1567 |  | 9917 |
| Toronto-Dominion Bank/The <sup>(1)</sup> |  |  | 362 |  | 22202 |
| U.S. Bancorp |  |  | 347 |  | 13991 |
| Webster Financial Corp. |  |  | 154 |  | 6961 |
| **Fulcrum Diversified Absolute Return Fund** |  |  |  |  |  |
| Consolidated Schedule of Investments (Unaudited) |  |  |  |  |  |
| September 30, 2022 |  |  |  |  |  |
| **COMMON STOCKS (Continued)** |  |  | **Shares** |  | **Value** |
| **Banks (Continued)** |  |  |  |  |  |
| Wells Fargo & Co. |  |  | 835 |  | 33584 |
| Western Alliance Bancorp |  |  | 91 |  | 5982 |
| Zions Bancorp NA |  |  | 133 |  | 6764 |
|  |  |  |  |  | 761792 |
| **Beverages - 0.0%** |  |  |  |  |  |
| Davide Campari-Milano NV <sup>(1)</sup> |  |  | 514 |  | 4590 |
| Pernod Ricard SA <sup>(1)</sup> |  |  | 364 |  | 67370 |
| Remy Cointreau SA <sup>(1)</sup> |  |  | 29 |  | 4857 |
|  |  |  |  |  | 76817 |
| **Building Materials - 0.1%** |  |  |  |  |  |
| Armstrong World Industries, Inc. |  |  | 356 |  | 28206 |
| LafargeHolcim Ltd. <sup>(1)</sup> |  |  | 74 |  | 3073 |
| Louisiana-Pacific Corp. |  |  | 157 |  | 8037 |
| Masonite International Corp. - ADR <sup>(2)</sup> |  |  | 170 |  | 12119 |
| Owens Corning |  |  | 244 |  | 19181 |
| Trex Co, Inc. <sup>(2)</sup> |  |  | 282 |  | 12391 |
|  |  |  |  |  | 83007 |
| **Capital Goods - 0.0%** |  |  |  |  |  |
| Auckland International Airport Ltd. <sup>(1)(2)</sup> |  |  | 1386 |  | 5585 |
| China Tower Corp Ltd. <sup>(1)</sup> |  |  | 141342 |  | 15125 |
| Sacyr SA <sup>(1)</sup> |  |  | 637 |  | 1397 |
| Vinci SA <sup>(1)</sup> |  |  | 155 |  | 12634 |
|  |  |  |  |  | 34741 |
| **Chemicals - 0.2%** |  |  |  |  |  |
| Albemarle Corp. |  |  | 365 |  | 96521 |
| Arkema SA <sup>(1)</sup> |  |  | 11 |  | 809 |
| Brenntag SE <sup>(1)</sup> |  |  | 42 |  | 2568 |
| Chr Hansen Holding A/S <sup>(1)</sup> |  |  | 26 |  | 1285 |
| Clariant AG <sup>(1)</sup> |  |  | 54 |  | 870 |
| Croda International Plc <sup>(1)</sup> |  |  | 21 |  | 1511 |
| DuPont de Nemours, Inc. |  |  | 1648 |  | 83059 |
| FMC Corp. |  |  | 112 |  | 11838 |
| Givaudan SA <sup>(1)</sup> |  |  | 1 |  | 3044 |
| Koninklijke DSM NV <sup>(1)</sup> |  |  | 26 |  | 2993 |
| Tronox Holdings Plc - ADR |  |  | 655 |  | 8024 |
| Yara International ASA <sup>(1)</sup> |  |  | 3175 |  | 111767 |
|  |  |  |  |  | 324289 |
| **Commercial Services - 0.2%** |  |  |  |  |  |
| Adyen NV <sup>(1)(2)</sup> |  |  | 39 |  | 49757 |
| Amadeus IT Group SA <sup>(1)</sup> |  |  | 688 |  | 32304 |
| Automatic Data Processing, Inc. |  |  | 276 |  | 62428 |
| Booz Allen Hamilton Holding Corp. |  |  | 293 |  | 27059 |
| Chegg, Inc. <sup>(2)</sup> |  |  | 222 |  | 4678 |
| Experian Plc <sup>(1)</sup> |  |  | 214 |  | 6358 |
| FleetCor Technologies, Inc. <sup>(2)</sup> |  |  | 85 |  | 14974 |
| Localiza Rent a Car SA <sup>(1)</sup> |  |  | 4380 |  | 49456 |
| QinetiQ Group Plc <sup>(1)</sup> |  |  | 379 |  | 1397 |
| S&P Global, Inc. |  |  | 68 |  | 20764 |
| Square, Inc. <sup>(2)</sup> |  |  | 326 |  | 17927 |
| WEX, Inc. <sup>(2)</sup> |  |  | 362 |  | 45952 |
|  |  |  |  |  | 333054 |
| **Computers - 0.1%** |  |  |  |  |  |
| Amdocs Ltd. - ADR |  |  | 272 |  | 21610 |
| Capgemini SE <sup>(1)</sup> |  |  | 277 |  | 44929 |
| Computacenter Plc <sup>(1)</sup> |  |  | 146 |  | 3151 |
| Crayon Group Holding ASA <sup>(1)(2)</sup> |  |  | 786 |  | 6132 |
| Softcat Plc <sup>(1)</sup> |  |  | 264 |  | 3508 |
| Varonis Systems, Inc. <sup>(2)</sup> |  |  | 1007 |  | 26706 |
|  |  |  |  |  | 106036 |
| **Fulcrum Diversified Absolute Return Fund** |  |  |  |  |  |
| Consolidated Schedule of Investments (Unaudited) |  |  |  |  |  |
| September 30, 2022 |  |  |  |  |  |
| **COMMON STOCKS (Continued)** |  |  | **Shares** |  | **Value** |
| **Cosmetics/Personal Care - 0.1%** |  |  |  |  |  |
| elf Beauty, Inc. <sup>(2)</sup> |  |  | 200 |  | 7524 |
| Estee Lauder Cos., Inc./The |  |  | 566 |  | 122199 |
| Unicharm Corp. <sup>(1)</sup> |  |  | 1316 |  | 43191 |
|  |  |  |  |  | 172914 |
| **Diversified Financial Services - 0.2%** |  |  |  |  |  |
| Canaccord Genuity Group, Inc. <sup>(1)</sup> |  |  | 333 |  | 1632 |
| Interactive Brokers Group, Inc. |  |  | 85 |  | 5432 |
| London Stock Exchange Group Plc <sup>(1)</sup> |  |  | 246 |  | 20952 |
| Mastercard, Inc. |  |  | 424 |  | 120560 |
| Nasdaq, Inc. |  |  | 99 |  | 5611 |
| Visa, Inc. |  |  | 891 |  | 158286 |
| Vontobel Holding AG <sup>(1)</sup> |  |  | 104 |  | 5629 |
|  |  |  |  |  | 318102 |
| **Electric - 0.2%** |  |  |  |  |  |
| Alliant Energy Corp. |  |  | 89 |  | 4716 |
| Ameren Corp. |  |  | 160 |  | 12888 |
| American Electric Power Co, Inc. |  |  | 311 |  | 26886 |
| China Longyuan Power Group Corp Ltd. <sup>(1)</sup> |  |  | 20258 |  | 25420 |
| Emera, Inc. <sup>(1)</sup> |  |  | 103 |  | 4167 |
| Enel SpA <sup>(1)</sup> |  |  | 1725 |  | 7141 |
| Eversource Energy |  |  | 214 |  | 16684 |
| Fortis Inc/Canada <sup>(1)</sup> |  |  | 302 |  | 11474 |
| Hydro One Ltd. <sup>(1)</sup> |  |  | 209 |  | 5111 |
| Iberdrola SA <sup>(1)</sup> |  |  | 1177 |  | 11053 |
| Northland Power, Inc. <sup>(1)</sup> |  |  | 107 |  | 3133 |
| RWE AG <sup>(1)</sup> |  |  | 5922 |  | 219327 |
| Sempra Energy |  |  | 193 |  | 28938 |
| Verbund AG <sup>(1)</sup> |  |  | 56 |  | 4800 |
|  |  |  |  |  | 381738 |
| **Electronics - 0.1%** |  |  |  |  |  |
| Halma Plc <sup>(1)</sup> |  |  | 330 |  | 7535 |
| Honeywell International, Inc. |  |  | 305 |  | 50926 |
| Hoya Corp. <sup>(1)</sup> |  |  | 1220 |  | 117001 |
| Knowles Corp. <sup>(2)</sup> |  |  | 430 |  | 5233 |
|  |  |  |  |  | 180695 |
| **Energy - Alternate Sources - 0.1%** |  |  |  |  |  |
| Canadian Solar, Inc. - ADR <sup>(2)</sup> |  |  | 693 |  | 25814 |
| Ence Energia y Celulosa, S.A. <sup>(1)</sup> |  |  | 216 |  | 650 |
| ERG SpA <sup>(1)</sup> |  |  | 77 |  | 2132 |
| Landis+Gyr Group AG <sup>(1)(2)</sup> |  |  | 44 |  | 2399 |
| Neoen SA <sup>(1)</sup> |  |  | 62 |  | 2087 |
| Nordex SE <sup>(1)(2)</sup> |  |  | 101 |  | 810 |
| Opdenergy Holdings SA <sup>(1)(2)</sup> |  |  | 4825 |  | 21256 |
| Solaria Energia y Medio Ambiente SA <sup>(1)</sup> |  |  | 72 |  | 1141 |
| Sunrun, Inc. <sup>(2)</sup> |  |  | 1229 |  | 33908 |
| Vestas Wind System <sup>(1)</sup> |  |  | 347 |  | 6478 |
|  |  |  |  |  | 96675 |
| **Environmental Control - 0.1%** |  |  |  |  |  |
| Clean Harbors, Inc. <sup>(2)</sup> |  |  | 64 |  | 7039 |
| Daiseki Co Ltd. <sup>(1)</sup> |  |  | 574 |  | 17688 |
| Fluidra SA <sup>(1)</sup> |  |  | 116 |  | 1764 |
| Republic Services, Inc. |  |  | 163 |  | 22175 |
| TOMRA Systems ASA <sup>(1)</sup> |  |  | 140 |  | 2474 |
| Waste Management, Inc. |  |  | 207 |  | 33163 |
|  |  |  |  |  | 84303 |
| **Fulcrum Diversified Absolute Return Fund** |  |  |  |  |  |
| Consolidated Schedule of Investments (Unaudited) |  |  |  |  |  |
| September 30, 2022 |  |  |  |  |  |
| **COMMON STOCKS (Continued)** |  |  | **Shares** |  | **Value** |
| **Food - 0.1%** |  |  |  |  |  |
| Austevoll Seafood ASA <sup>(1)</sup> |  |  | 341 |  | 2310 |
| China Modern Dairy Holdings Ltd. <sup>(1)</sup> |  |  | 9619 |  | 1103 |
| Glanbia Plc <sup>(1)</sup> |  |  | 502 |  | 5806 |
| JBS SA <sup>(1)</sup> |  |  | 10567 |  | 49443 |
| Marfrig Global Foods SA <sup>(1)</sup> |  |  | 5701 |  | 10473 |
| Minerva SA/Brazil <sup>(1)</sup> |  |  | 1175 |  | 2727 |
| SunOpta, Inc. <sup>(1)(2)</sup> |  |  | 616 |  | 5614 |
| Tyson Foods, Inc. |  |  | 882 |  | 58150 |
|  |  |  |  |  | 135626 |
| **Forest Products & Paper - 0.0%** |  |  |  |  |  |
| BillerudKorsnas AB <sup>(1)</sup> |  |  | 183 |  | 2167 |
| Svenska Cellulosa AB SCA <sup>(1)</sup> |  |  | 136 |  | 1740 |
| UPM-Kymmene Oyj <sup>(1)</sup> |  |  | 80 |  | 2554 |
|  |  |  |  |  | 6461 |
| **Healthcare Products - 0.1%** |  |  |  |  |  |
| Boston Scientific Corp. <sup>(2)</sup> |  |  | 576 |  | 22308 |
| Cochlear Ltd. <sup>(1)</sup> |  |  | 190 |  | 23643 |
| Koninklijke Philips NV <sup>(1)</sup> |  |  | 670 |  | 10506 |
| Medtronic Plc - ADR |  |  | 980 |  | 79135 |
| Siemens Healthineers AG <sup>(1)</sup> |  |  | 1071 |  | 46478 |
|  |  |  |  |  | 182070 |
| **Healthcare Services - 0.2%** |  |  |  |  |  |
| Anthem, Inc. |  |  | 83 |  | 37702 |
| Humana, Inc. |  |  | 41 |  | 19893 |
| IQVIA Holdings, Inc. <sup>(2)</sup> |  |  | 81 |  | 14672 |
| Lonza Group AG <sup>(1)</sup> |  |  | 170 |  | 83786 |
| UnitedHealth Group, Inc. |  |  | 257 |  | 129795 |
|  |  |  |  |  | 285848 |
| **Home Builders - 0.1%** |  |  |  |  |  |
| DR Horton, Inc. |  |  | 183 |  | 12325 |
| Installed Building Products, Inc. |  |  | 78 |  | 6317 |
| LENNAR Corp. |  |  | 149 |  | 11108 |
| LGI Homes, Inc. <sup>(2)</sup> |  |  | 70 |  | 5696 |
| M/I Homes, Inc. <sup>(2)</sup> |  |  | 87 |  | 3152 |
| MDC Holdings, Inc. |  |  | 236 |  | 6471 |
| Meritage Homes Corp. <sup>(2)</sup> |  |  | 112 |  | 7870 |
| NVR, Inc. <sup>(2)</sup> |  |  | 8 |  | 31897 |
| PulteGroup, Inc. |  |  | 531 |  | 19913 |
| Taylor Morrison Home Corp. <sup>(2)</sup> |  |  | 381 |  | 8885 |
| Toll Brothers, Inc. |  |  | 378 |  | 15876 |
| TRI Pointe Group, Inc. <sup>(2)</sup> |  |  | 364 |  | 5500 |
|  |  |  |  |  | 135010 |
| **Home Furnishings - 0.0%** |  |  |  |  |  |
| Howden Joinery Group Plc <sup>(1)</sup> |  |  | 312 |  | 1760 |
| **Household Products/Wares - 0.0%** |  |  |  |  |  |
| Church & Dwight Co, Inc. |  |  | 340 |  | 24290 |
| **Insurance - 0.1%** |  |  |  |  |  |
| Admiral Group Plc <sup>(1)</sup> |  |  | 188 |  | 4019 |
| Aflac, Inc. |  |  | 149 |  | 8374 |
| Allstate Corp/The |  |  | 66 |  | 8219 |
| American International Group, Inc. |  |  | 187 |  | 8879 |
| AXA SA <sup>(1)</sup> |  |  | 1748 |  | 38502 |
| Coface SA <sup>(1)</sup> |  |  | 229 |  | 2207 |
| Direct Line Insurance Group Plc <sup>(1)</sup> |  |  | 1859 |  | 3850 |
| Fidelity National Financial, Inc. |  |  | 258 |  | 9340 |
| Hartford Financial Services Group Inc/The |  |  | 75 |  | 4645 |
| Lincoln National Corp. |  |  | 165 |  | 7245 |
| Loews Corp. |  |  | 218 |  | 10865 |
| Marsh & McLennan Cos, Inc. |  |  | 121 |  | 18064 |
| **Fulcrum Diversified Absolute Return Fund** |  |  |  |  |  |
| Consolidated Schedule of Investments (Unaudited) |  |  |  |  |  |
| September 30, 2022 |  |  |  |  |  |
| **COMMON STOCKS (Continued)** |  |  | **Shares** |  | **Value** |
| **Insurance (Continued)** |  |  |  |  |  |
| NN Group NV <sup>(1)</sup> |  |  | 197 |  | 7717 |
| Phoenix Group Holdings Plc <sup>(1)</sup> |  |  | 554 |  | 3259 |
| Progressive Corp/The |  |  | 136 |  | 15805 |
| Prudential Financial, Inc. |  |  | 93 |  | 7977 |
| Prudential Plc <sup>(1)</sup> |  |  | 1501 |  | 14979 |
| Sampo Oyj <sup>(1)</sup> |  |  | 286 |  | 12266 |
| SCOR SE <sup>(1)</sup> |  |  | 273 |  | 3977 |
| Sun Life Financial, Inc. <sup>(1)</sup> |  |  | 138 |  | 5488 |
| Swiss Life Holding AG <sup>(1)</sup> |  |  | 19 |  | 8444 |
| Travelers Cos Inc/The |  |  | 53 |  | 8120 |
| Trupanion, Inc. <sup>(2)</sup> |  |  | 124 |  | 7369 |
| UNIQA Insurance Group AG <sup>(1)</sup> |  |  | 228 |  | 1354 |
| Voya Financial, Inc. |  |  | 92 |  | 5566 |
| Willis Towers Watson Plc - ADR |  |  | 57 |  | 11454 |
|  |  |  |  |  | 237984 |
| **Internet - 0.3%** |  |  |  |  |  |
| Alphabet, Inc. <sup>(2)</sup> |  |  | 1573 |  | 150458 |
| Amazon.com, Inc. <sup>(2)</sup> |  |  | 1010 |  | 114130 |
| Auto Trader Group Plc <sup>(1)</sup> |  |  | 1212 |  | 6969 |
| Booking Holdings, Inc. <sup>(2)</sup> |  |  | 25 |  | 41080 |
| Future Plc <sup>(1)</sup> |  |  | 474 |  | 6986 |
| Meituan <sup>(1)(2)</sup> |  |  | 4376 |  | 92318 |
| Moneysupermarket.com Group Plc <sup>(1)</sup> |  |  | 375 |  | 778 |
| Okta, Inc. <sup>(2)</sup> |  |  | 438 |  | 24909 |
| Rightmove Plc <sup>(1)</sup> |  |  | 2430 |  | 13083 |
| United Internet AG <sup>(1)</sup> |  |  | 98 |  | 1850 |
|  |  |  |  |  | 452561 |
| **Investment Company - 0.0%** |  |  |  |  |  |
| Aker ASA <sup>(1)</sup> |  |  | 55 |  | 3566 |
| **Iron/Steel - 0.1%** |  |  |  |  |  |
| Angang Steel Co Ltd. <sup>(1)</sup> |  |  | 23575 |  | 5826 |
| APERAM SA <sup>(1)</sup> |  |  | 47 |  | 1124 |
| ArcelorMittal SA <sup>(1)</sup> |  |  | 4899 |  | 99218 |
| BlueScope Steel Ltd. <sup>(1)</sup> |  |  | 2656 |  | 25807 |
| Outokumpu Oyj <sup>(1)</sup> |  |  | 281 |  | 975 |
|  |  |  |  |  | 132950 |
| **Leisure Time - 0.0%** |  |  |  |  |  |
| Planet Fitness, Inc. <sup>(2)</sup> |  |  | 197 |  | 11359 |
| **Lodging - 0.0%** |  |  |  |  |  |
| Travel + Leisure Co. |  |  | 332 |  | 11328 |
| **Machinery - 0.0%** |  |  |  |  |  |
| Cactus, Inc. |  |  | 330 |  | 12682 |
| GEA Group AG <sup>(1)</sup> |  |  | 62 |  | 2026 |
| Konecranes Oyj <sup>(1)</sup> |  |  | 57 |  | 1144 |
| Oshkosh Corp. |  |  | 164 |  | 11527 |
| Valmet Oyj <sup>(1)</sup> |  |  | 101 |  | 2062 |
|  |  |  |  |  | 29441 |
| **Media - 0.0%** |  |  |  |  |  |
| Quebecor, Inc. <sup>(1)</sup> |  |  | 519 |  | 9569 |
| Schibsted ASA <sup>(1)</sup> |  |  | 272 |  | 3692 |
| Vivendi SE <sup>(1)</sup> |  |  | 734 |  | 5735 |
|  |  |  |  |  | 18996 |
| **Mining - 0.3%** |  |  |  |  |  |
| Alcoa Corp. |  |  | 88 |  | 2962 |
| Aluminum Corp of China Ltd. <sup>(1)</sup> |  |  | 20611 |  | 6748 |
| Anglo American Plc <sup>(1)</sup> |  |  | 284 |  | 8674 |
| **Fulcrum Diversified Absolute Return Fund** |  |  |  |  |  |
| Consolidated Schedule of Investments (Unaudited) |  |  |  |  |  |
| September 30, 2022 |  |  |  |  |  |
| **COMMON STOCKS (Continued)** |  |  | **Shares** |  | **Value** |
| **Mining (Continued)** |  |  |  |  |  |
| Glencore Plc <sup>(1)</sup> |  |  | 78066 |  | 416776 |
| Rio Tinto Plc <sup>(1)</sup> |  |  | 478 |  | 26130 |
| Wesdome Gold Mines Ltd. <sup>(1)(2)</sup> |  |  | 1615 |  | 10920 |
| Zijin Mining Group Co Ltd. <sup>(1)</sup> |  |  | 23167 |  | 22578 |
|  |  |  |  |  | 494788 |
| **Oil & Gas - 0.4%** |  |  |  |  |  |
| Aker BP ASA <sup>(1)</sup> |  |  | 428 |  | 12288 |
| Atmos Energy Corp. |  |  | 47 |  | 4787 |
| Baker Hughes Co. |  |  | 7846 |  | 164452 |
| BP Plc <sup>(1)</sup> |  |  | 63409 |  | 306630 |
| Comstock Resources, Inc. <sup>(2)</sup> |  |  | 1100 |  | 19019 |
| Cosan SA <sup>(1)</sup> |  |  | 12147 |  | 39069 |
| Liberty Energy, Inc. <sup>(2)</sup> |  |  | 837 |  | 10613 |
| NiSource, Inc. |  |  | 143 |  | 3602 |
| NOW, Inc. <sup>(2)</sup> |  |  | 1407 |  | 14140 |
| PrairieSky Royalty Ltd. <sup>(1)</sup> |  |  | 834 |  | 10753 |
| ProPetro Holding Corp. <sup>(2)</sup> |  |  | 525 |  | 4226 |
| Talos Energy, Inc. <sup>(2)</sup> |  |  | 770 |  | 12821 |
|  |  |  |  |  | 602400 |
| **Packaging & Containers - 0.0%** |  |  |  |  |  |
| AptarGroup, Inc. |  |  | 44 |  | 4181 |
| Metsa Board Oyj <sup>(1)</sup> |  |  | 255 |  | 1867 |
| Westrock Co. |  |  | 176 |  | 5437 |
|  |  |  |  |  | 11485 |
| **Pharmaceuticals - 0.2%** |  |  |  |  |  |
| Becton Dickinson and Co. |  |  | 112 |  | 24957 |
| Bristol-Myers Squibb Co. |  |  | 748 |  | 53175 |
| Cigna Corp. |  |  | 103 |  | 28579 |
| Heska Corp. <sup>(2)</sup> |  |  | 39 |  | 2844 |
| Johnson & Johnson |  |  | 917 |  | 149801 |
| Merck & Co, Inc. |  |  | 872 |  | 75097 |
|  |  |  |  |  | 334453 |
| **Real Estate Services - 0.0%** |  |  |  |  |  |
| A-Living Smart City Services Co Ltd. <sup>(1)</sup> |  |  | 5132 |  | 4067 |
| CBRE Group, Inc. <sup>(2)</sup> |  |  | 137 |  | 9249 |
| Hufvudstaden AB <sup>(1)</sup> |  |  | 119 |  | 1311 |
| Longfor Group Holdings Ltd. <sup>(1)</sup> |  |  | 6577 |  | 18894 |
| PSP Swiss Property AG <sup>(1)</sup> |  |  | 27 |  | 2709 |
| Shurgard Self Storage SA <sup>(1)</sup> |  |  | 45 |  | 1835 |
| Wihlborgs Fastigheter AB <sup>(1)</sup> |  |  | 144 |  | 874 |
|  |  |  |  |  | 38939 |
| **REIT - 0.1%** |  |  |  |  |  |
| AvalonBay Communities, Inc. |  |  | 55 |  | 10130 |
| DiamondRock Hospitality Co. |  |  | 454 |  | 3410 |
| Equinix, Inc. |  |  | 35 |  | 19909 |
| Equity Residential |  |  | 147 |  | 9881 |
| Essex Property Trust, Inc. |  |  | 29 |  | 7025 |
| Growthpoint Properties Australia Ltd. <sup>(1)</sup> |  |  | 4050 |  | 7953 |
| Mirvac Group <sup>(1)</sup> |  |  | 3983 |  | 4955 |
| Nippon Prologis REIT, Inc. <sup>(1)</sup> |  |  | 3 |  | 6561 |
| Park Hotels & Resorts, Inc. |  |  | 471 |  | 5303 |
| Pebblebrook Hotel Trust |  |  | 248 |  | 3599 |
| Prologis, Inc. |  |  | 277 |  | 28143 |
| Rayonier, Inc. |  |  | 502 |  | 15045 |
| Segro Plc <sup>(1)</sup> |  |  | 1785 |  | 15008 |
| Sunstone Hotel Investors, Inc. |  |  | 388 |  | 3655 |
| UNITE Group PLC/The <sup>(1)</sup> |  |  | 234 |  | 2243 |
| Warehouses De Pauw CVA <sup>(1)</sup> |  |  | 2387 |  | 58765 |
| Weyerhaeuser Co. |  |  | 227 |  | 6483 |
|  |  |  |  |  | 208068 |
| **Fulcrum Diversified Absolute Return Fund** |  |  |  |  |  |
| Consolidated Schedule of Investments (Unaudited) |  |  |  |  |  |
| September 30, 2022 |  |  |  |  |  |
| **COMMON STOCKS (Continued)** |  |  | **Shares** |  | **Value** |
| **Retail - 0.2%** |  |  |  |  |  |
| ANTA Sports Products Ltd. <sup>(1)</sup> |  |  | 1552 |  | 16450 |
| Chipotle Mexican Grill, Inc. <sup>(2)</sup> |  |  | 3 |  | 4508 |
| Domino's Pizza Enterprises Ltd. <sup>(1)</sup> |  |  | 21 |  | 692 |
| Europris ASA <sup>(1)</sup> |  |  | 174 |  | 870 |
| Grafton Group Plc <sup>(1)</sup> |  |  | 165 |  | 1238 |
| Home Depot Inc/The |  |  | 286 |  | 78919 |
| JD Sports Fashion Plc <sup>(1)</sup> |  |  | 4587 |  | 5132 |
| Li Ning Co Ltd. <sup>(1)</sup> |  |  | 1498 |  | 11469 |
| Lowe's Cos, Inc. |  |  | 288 |  | 54089 |
| Lululemon Athletica, Inc. <sup>(2)</sup> |  |  | 69 |  | 19290 |
| Moncler SpA <sup>(1)</sup> |  |  | 321 |  | 13336 |
| Pets at Home Group Plc <sup>(1)</sup> |  |  | 237 |  | 699 |
| TJX Cos Inc/The |  |  | 660 |  | 40999 |
| Tokmanni Group Corp. <sup>(1)</sup> |  |  | 135 |  | 1479 |
|  |  |  |  |  | 249170 |
| **Semiconductors - 0.3%** |  |  |  |  |  |
| Advanced Micro Devices, Inc. <sup>(2)</sup> |  |  | 297 |  | 18818 |
| Analog Devices, Inc. |  |  | 92 |  | 12819 |
| Applied Materials, Inc. |  |  | 177 |  | 14502 |
| ASM International NV <sup>(1)</sup> |  |  | 49 |  | 11225 |
| ASML Holding NV <sup>(1)</sup> |  |  | 111 |  | 47169 |
| Cirrus Logic, Inc. <sup>(2)</sup> |  |  | 152 |  | 10458 |
| Infineon Technologies AG <sup>(1)</sup> |  |  | 9535 |  | 212219 |
| Lam Research Corp. |  |  | 26 |  | 9516 |
| Microchip Technology, Inc. |  |  | 103 |  | 6286 |
| Micron Technology, Inc. |  |  | 253 |  | 12675 |
| Nordic Semiconductor ASA <sup>(1)(2)</sup> |  |  | 275 |  | 3675 |
| NVIDIA Corp. |  |  | 460 |  | 55839 |
| STMicroelectronics NV <sup>(1)</sup> |  |  | 273 |  | 8629 |
| Texas Instruments, Inc. |  |  | 167 |  | 25848 |
| Tokyo Ohka Kogyo Co Ltd. <sup>(1)</sup> |  |  | 97 |  | 4048 |
|  |  |  |  |  | 453726 |
| **Software - 0.2%** |  |  |  |  |  |
| Adobe, Inc. <sup>(2)</sup> |  |  | 233 |  | 64122 |
| Broadridge Financial Solutions, Inc. |  |  | 218 |  | 31462 |
| Constellation Software Inc/Canada <sup>(1)</sup> |  |  | 12 |  | 16698 |
| Coupa Software, Inc. <sup>(2)</sup> |  |  | 383 |  | 22520 |
| Intuit, Inc. |  |  | 120 |  | 46478 |
| Konami Holdings Corp. <sup>(1)</sup> |  |  | 233 |  | 10754 |
| MSCI, Inc. |  |  | 16 |  | 6749 |
| Oracle Corp Japan <sup>(1)</sup> |  |  | 503 |  | 26761 |
| RingCentral, Inc. <sup>(2)</sup> |  |  | 838 |  | 33486 |
| ServiceNow, Inc. <sup>(2)</sup> |  |  | 147 |  | 55509 |
| Sinch AB <sup>(1)(2)</sup> |  |  | 18550 |  | 25166 |
| Take-Two Interactive Software, Inc. <sup>(2)</sup> |  |  | 431 |  | 46979 |
| Workday, Inc. <sup>(2)</sup> |  |  | 96 |  | 14613 |
|  |  |  |  |  | 401297 |
| **Telecommunications - 0.1%** |  |  |  |  |  |
| AT&T, Inc. |  |  | 4600 |  | 70564 |
| Juniper Networks, Inc. |  |  | 1190 |  | 31083 |
| Spirent Communications Plc <sup>(1)</sup> |  |  | 538 |  | 1576 |
| Verizon Communications, Inc. |  |  | 2684 |  | 101912 |
| Viavi Solutions, Inc. <sup>(2)</sup> |  |  | 1326 |  | 17304 |
|  |  |  |  |  | 222439 |
| **Toys/Games/Hobbies - 0.1%** |  |  |  |  |  |
| Bandai Namco Holdings, Inc. <sup>(1)</sup> |  |  | 346 |  | 22551 |
| Nintendo Co Ltd. <sup>(1)</sup> |  |  | 2520 |  | 101928 |
|  |  |  |  |  | 124479 |
| **Fulcrum Diversified Absolute Return Fund** |  |  |  |  |  |
| Consolidated Schedule of Investments (Unaudited) |  |  |  |  |  |
| September 30, 2022 |  |  |  |  |  |
| **COMMON STOCKS (Continued)** |  |  | **Shares** |  | **Value** |
| **Transportation - 0.2%** |  |  |  |  |  |
| AP Moller - Maersk A/S <sup>(1)</sup> |  |  | 76 |  | 138897 |
| Canadian Pacific Railway Ltd. - ADR |  |  | 112 |  | 7473 |
| Canadian Pacific Railway Ltd. <sup>(1)</sup> |  |  | 416 |  | 27769 |
| Clarkson Plc <sup>(1)</sup> |  |  | 21 |  | 617 |
| COSCO Shipping Energy Transportation Co Ltd <sup>(1)</sup> |  |  | 9526 |  | 7924 |
| CSX Corp. |  |  | 805 |  | 21445 |
| Deutsche Post AG <sup>(1)</sup> |  |  | 420 |  | 12808 |
| Expeditors International of Washington, Inc. |  |  | 99 |  | 8743 |
| Hapag-Lloyd AG <sup>(1)</sup> |  |  | 25 |  | 4280 |
| Kuehne + Nagel International AG <sup>(1)</sup> |  |  | 40 |  | 8189 |
| Nippon Yusen KK <sup>(1)</sup> |  |  | 300 |  | 5114 |
| TFI International, Inc. <sup>(1)</sup> |  |  | 235 |  | 21267 |
| Union Pacific Corp. |  |  | 263 |  | 51238 |
| United Parcel Service, Inc. |  |  | 318 |  | 51370 |
|  |  |  |  |  | 367134 |
| **Water - 0.0%** |  |  |  |  |  |
| American Water Works Co, Inc. |  |  | 142 |  | 18483 |
| **Wholesale Distribution - 0.0%** |  |  |  |  |  |
| ITOCHU Corp. <sup>(1)</sup> |  |  | 2602 |  | 62942 |
| SiteOne Landscape Supply, Inc. <sup>(2)</sup> |  |  | 105 |  | 10935 |
| Toyota Tsusho Corp. <sup>(1)</sup> |  |  | 104 |  | 3219 |
|  |  |  |  |  | 77096 |
| **TOTAL COMMON STOCKS (Cost $10,105,491)** |  |  |  |  | 8569087 |
| **PREFERRED STOCKS - 0.0%** |  |  |  |  |  |
| **Machinery - 0.0%** |  |  |  |  |  |
| Jungheinrich AG <sup>(1)</sup> |  |  | 52 |  | 1065 |
| &nbsp;&nbsp;&nbsp; 0.00% |  |  |  |  |  |
| **TOTAL PREFERRED STOCKS (Cost $2,325)** |  |  |  |  | 1065 |
| **RIGHT - 0.0%** |  |  |  |  |  |
| Localiza Rent a Car SA <sup>(1)</sup> |  |  | 13 |  | 27 |
| &nbsp;&nbsp;&nbsp; 50.350%, 10/31/2022 |  |  |  |  |  |
| **TOTAL RIGHT (Cost $23)** |  |  |  |  | 27 |
| **PURCHASED OPTIONS - 3.1%** |  | **Contracts** | **Notional** |  | **Value** |
| **Call Options Purchased - 0.2%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; AUD/USD FX at 68.0, October 7, 2022 |  | 55 | 21398300 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 825 |
| &nbsp;&nbsp;&nbsp; AUD/USD FX at 68.5, October 7, 2022 |  | 55 | 21398300 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 550 |
| &nbsp;&nbsp;&nbsp; Crude Oil Dec 22 Future at $150, October 26, 2022 <sup>(1)(3)</sup> |  | 245 | 20859300 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14700 |
| &nbsp;&nbsp;&nbsp; Eurodollar Futures at 97.75, December 19, 2022 |  | 209 | 49799475 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 33962 |
| &nbsp;&nbsp;&nbsp; Euro STOXX 50 Index Dividend Futures at 120, December 15, 2023 |  | 75 | 834108 | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20066 |
| &nbsp;&nbsp;&nbsp; Euro STOXX 50 Index Futures at 3,700, October 21, 2022 <sup>(3)</sup> |  | 509 | 16534956 | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10975 |
| &nbsp;&nbsp;&nbsp; FTSE 100 at 8,000, December 15, 2023 <sup>(3)</sup> |  | 107 | 8209907 | GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 256264 |
| **Total Call Options Purchased (Premiums Paid $1,611,253)** |  |  |  |  | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 337342** |
| **Put Options Purchased - 0.8%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; AUD/USD FX at 67.0, October 11, 2022 |  | 55 | 21398300 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 157850 |
| &nbsp;&nbsp;&nbsp; AUD/USD FX at 67.5, October 11, 2022 |  | 55 | 21398300 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 184800 |
| &nbsp;&nbsp;&nbsp; E-mini S&P 500 at $3,700, October 11, 2022 |  | 90 | 16206750 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 691875 |
| &nbsp;&nbsp;&nbsp; Eurodollar Futures at 95.1875, December 19, 2022 |  | 209 | 49799475 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 69231 |
| &nbsp;&nbsp;&nbsp; Gold Jan 23 Futures at $1,500, December 27, 2022 <sup>(3)</sup> |  | 7 | 1179430 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5617 |
| &nbsp;&nbsp;&nbsp; Nikkei 225 at 26,375, October 14, 2022 <sup>(3)</sup> |  | 3 | 537670 | JPY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15339 |
| &nbsp;&nbsp;&nbsp; Nikkei 225 at 26,500, October 14, 2022 <sup>(3)</sup> |  | 3 | 537670 | JPY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16894 |
| &nbsp;&nbsp;&nbsp; Nikkei 225 at 26,625, October 14, 2022 <sup>(3)</sup> |  | 3 | 537670 | JPY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18552 |
| &nbsp;&nbsp;&nbsp; Nikkei 225 at 26,750, October 14, 2022 <sup>(3)</sup> |  | 3 | 537670 | JPY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20314 |
| &nbsp;&nbsp;&nbsp; Nikkei 225 at 26,875, October 14, 2022 <sup>(3)</sup> |  | 3 | 537670 | JPY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 22179 |
| &nbsp;&nbsp;&nbsp; Nikkei 225 at 27,000, October 14, 2022 <sup>(3)</sup> |  | 3 | 537670 | JPY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 24148 |
| &nbsp;&nbsp;&nbsp; Nikkei 225 at 27,125, October 14, 2022 <sup>(3)</sup> |  | 3 | 537670 | JPY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 26325 |
| &nbsp;&nbsp;&nbsp; Nikkei 225 at 27,250, October 14, 2022 <sup>(3)</sup> |  | 3 | 537670 | JPY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 28501 |
| **Total Put Options Purchased (Premiums Paid $631,179)** |  |  |  |  | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1281625** |
| **Fulcrum Diversified Absolute Return Fund** |  |  |  |  |  |
| Consolidated Schedule of Investments (Unaudited) |  |  |  |  |  |
| September 30, 2022 |  |  |  |  |  |
| **PURCHASED OPTIONS AND WARRANTS (Continued)** | **Counterparty <sup>a</sup>** |  | **Notional** |  | **Value** |
| **Over-The-Counter Options Purchased - 2.1%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; AUD Call / NZD Put at 1.15, October 20, 2022 | JPM |  | 12582747 | AUD | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40525 |
| &nbsp;&nbsp;&nbsp; CNH/JPY < 20.0864 and USD/JPY > 140.03, December 14, 2022 <sup>(4)</sup> | MS |  | 94614111 | JPY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 125627 |
| &nbsp;&nbsp;&nbsp; CNH/JPY < 19.9840 and USD/JPY > 140.54, December 19, 2022 <sup>(4)</sup> | MS |  | 136341395 | JPY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 134633 |
| &nbsp;&nbsp;&nbsp; EUR/USD GBP/USD Put on correlation swap at 100, June 2, 2023 <sup>(5)</sup> | MS |  | 22000 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 620778 |
| &nbsp;&nbsp;&nbsp; EUR/BRL USD/BRL Put on correlation swap at 100, December 22, 2022 <sup>(5)</sup> | MS |  | 26400 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 502613 |
| &nbsp;&nbsp;&nbsp; EUR/BRL USD/BRL Put on correlation swap at 100, February 27, 2023 <sup>(5)</sup> | MS |  | 20000 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 422326 |
| &nbsp;&nbsp;&nbsp; EUR/BRL USD/BRL Put on correlation swap at 100, April 10, 2023 <sup>(5)</sup> | MS |  | 16250 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 320476 |
| &nbsp;&nbsp;&nbsp; EUR/USD < 0.960 and USD/CHF < 0.98, October 31, 2022 <sup>(4)</sup> | CITI |  | 427540 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 35015 |
| &nbsp;&nbsp;&nbsp; EUR/USD < 0.98 VKO 11.5 and EUR/GBP > 0.8815, December 14, 2022 <sup>(4)(6)</sup> | GS |  | 354000 | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18787 |
| &nbsp;&nbsp;&nbsp; EUR Call / CNH Put at 8.40, February 9, 2023 <sup>(7)</sup> | JPM |  | 254000 | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1885 |
| &nbsp;&nbsp;&nbsp; EUR Call / GBP Put at 0.9125, October 25, 2022 | JPM |  | 28503492 | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 111599 |
| &nbsp;&nbsp;&nbsp; EUR Call / GBP Put at 0.9125 RKO at 0.95, October 26, 2022 <sup>(8)</sup> | JPM |  | 27253353 | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18803 |
| &nbsp;&nbsp;&nbsp; EUR Call / GBP Put at 0.9125 ERKO at 0.9450, October 28, 2022 <sup>(9)</sup> | JPM |  | 19517362 | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19090 |
| &nbsp;&nbsp;&nbsp; EUR Call / GBP Put at 0.9225 ERKO at 0.9550, November 2, 2022 <sup>(9)</sup> | JPM |  | 8956271 | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6311 |
| &nbsp;&nbsp;&nbsp; EUR Call / USD Put at 1.295, December 19, 2022 <sup>(10)</sup> | JPM |  | 458000 | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 103 |
| &nbsp;&nbsp;&nbsp; EUR Call / GBP Put at 0.92 VKO at 12, December 22, 2022 <sup>(6)(10)</sup> | MS |  | 817000 | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 43724 |
| &nbsp;&nbsp;&nbsp; EUR Put / CHF Call at 0.935 VKO at 9.5, November 23, 2022 <sup>(6)(10)</sup> | GS |  | 345856 | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17179 |
| &nbsp;&nbsp;&nbsp; EUR Put / USD Call at 0.975 VKO at 11.5, December 14, 2022 <sup>(6)(10)</sup> | MS |  | 220332 | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18475 |
| &nbsp;&nbsp;&nbsp; GBP/USD < 1.0242 and FTSE > 7347.38, December 16, 2022 <sup>(4)</sup> | GS |  | 326417 | GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 30068 |
| &nbsp;&nbsp;&nbsp; GBP/USD < 1.0660 and UKX > 7274, December 16, 2022 <sup>(4)</sup> | CITI |  | 458058 | GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 38358 |
| &nbsp;&nbsp;&nbsp; GBP/USD < 1.0548 and UKX > 7484.40, March 17, 2023 <sup>(4)</sup> | GS |  | 458058 | GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 32732 |
| &nbsp;&nbsp;&nbsp; GBP/USD < 1.0725 and USD/CHF < 0.99, November 3, 2022 <sup>(4)</sup> | MS |  | 657646 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 45034 |
| &nbsp;&nbsp;&nbsp; GBP/USD < 1.0541 and USD/BRL < 5.1924, December 23, 2022 <sup>(4)</sup> | MS |  | 390000 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 28275 |
| &nbsp;&nbsp;&nbsp; GBP Put / USD Call at 0.98, October 27, 2022 <sup>(10)</sup> | JPM |  | 368561 | GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9697 |
| &nbsp;&nbsp;&nbsp; GBP Put / USD Call at 0.9675, November 1, 2022 <sup>(7)</sup> | JPM |  | 194643 | GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13888 |
| &nbsp;&nbsp;&nbsp; GBP Put / USD Call at 1.01, November 22, 2022 <sup>(10)</sup> | JPM |  | 182739 | GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16086 |
| &nbsp;&nbsp;&nbsp; GBP Put / USD Call at 1.05, December 7, 2022 <sup>(10)</sup> | JPM |  | 357010 | GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 66145 |
| &nbsp;&nbsp;&nbsp; GBP Put / USD Call at 1.04 VKO at 17, December 22, 2022 <sup>(6)(10)</sup> | MS |  | 729884 | GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 21078 |
| &nbsp;&nbsp;&nbsp; SPX < 3622.13 and COZ2 < 66.26, October 26, 2022 <sup>(4)</sup> | CITI |  | 509000 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13457 |
| &nbsp;&nbsp;&nbsp; SPX < 3838.13 and CLF3 > 120, December 15, 2022 <sup>(4)</sup> | MS |  | 519000 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6541 |
| &nbsp;&nbsp;&nbsp; SPX < 3768.64 and CLG3 > 104.28, January 17, 2023 <sup>(4)</sup> | CITI |  | 512000 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19999 |
| &nbsp;&nbsp;&nbsp; SPX < 3909.63 and CLH3 > 107.92, February 15, 2023 <sup>(4)</sup> | MS |  | 513000 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 23347 |
| &nbsp;&nbsp;&nbsp; SPX < 3652 and USD/BRL < 5.2870, December 16, 2022 <sup>(4)</sup> | CITI |  | 346116 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 36353 |
| &nbsp;&nbsp;&nbsp; SPX < 3949.15 and US2YRSOFR > 3.326%, December 16, 2022 <sup>(4)</sup> | CITI |  | 428000 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 281178 |
| &nbsp;&nbsp;&nbsp; SPX < 3834.13 and US10YRSOFR < 2.414%, October 21, 2022 <sup>(4)</sup> | MS |  | 508000 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;51 |
| &nbsp;&nbsp;&nbsp; SPX < 3751.83 and US10YRSOFR < 2.325%, December 16, 2022 | MS |  | 505033 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8458 |
| &nbsp;&nbsp;&nbsp; USD/CNH > 6.9730 and USD/BRL < 4.9849, December 13, 2022 <sup>(4)</sup> | MS |  | 356000 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 35627 |
| &nbsp;&nbsp;&nbsp; USD/JPY < 142.15 and GBP/USD < 1.1213, November 14, 2022 <sup>(4)</sup> | JPM |  | 499356 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 56829 |
| &nbsp;&nbsp;&nbsp; USD/JPY < 128.738 and US10YRSOFR > 3.333%, October 19, 2022 <sup>(4)</sup> | GS |  | 259000 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 672 |
| &nbsp;&nbsp;&nbsp; USD/JPY < 128.738 and US10YRSOFR > 3.333%, November 17, 2022 <sup>(4)</sup> | GS |  | 259000 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5414 |
| &nbsp;&nbsp;&nbsp; USD Call / CNH Put at 6.80 ERKO at 7.00, October 12, 2022 <sup>(9)</sup> | JPM |  | 2238699 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3389 |
| &nbsp;&nbsp;&nbsp; USD Call / JPY Put at 142.0 RKO at 148.0, October 25, 2022 <sup>(8)</sup> | JPM |  | 4396653 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 24507 |
| &nbsp;&nbsp;&nbsp; USD Call / INR Put at 85.0, October 27, 2022 <sup>(10)</sup> | JPM |  | 440000 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18424 |
| &nbsp;&nbsp;&nbsp; USD Call / INR Put at 84.0, November 9, 2022 | JPM |  | 8824000 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 23225 |
| &nbsp;&nbsp;&nbsp; USD Call / INR Put at 85.0, December 16, 2022 <sup>(10)</sup> | JPM |  | 438728 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 59691 |
| &nbsp;&nbsp;&nbsp; USD Call / INR Put at 87.0, December 23, 2022 | JPM |  | 21918000 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 47628 |
| &nbsp;&nbsp;&nbsp; USD Put / BRL Call at 5.05 RKO at 4.6, December 13, 2022 <sup>(8)</sup> | JPM |  | 7962000 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 29571 |
| &nbsp;&nbsp;&nbsp; USD Put / JPY Call at 125, December 23, 2022 <sup>(10)</sup> | MLI |  | 285000 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7196 |
| &nbsp;&nbsp;&nbsp; XAU > 1807.47 and SPX < 3653.73, October 21, 2022 <sup>(4)</sup> | CITI |  | 599000 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9564 |
| &nbsp;&nbsp;&nbsp; XAU > 1807.47 and SPX < 3653.73, January 20, 2023 <sup>(4)</sup> | CITI |  | 428000 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 34917 |
| **Total Over-The-Counter Options Purchased (Premiums Paid $2,974,237)** | **Total Over-The-Counter Options Purchased (Premiums Paid $2,974,237)** | **Total Over-The-Counter Options Purchased (Premiums Paid $2,974,237)** | **Total Over-The-Counter Options Purchased (Premiums Paid $2,974,237)** |  | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3505348** |
| **TOTAL PURCHASED OPTIONS (Premiums Paid $5,216,669)** |  |  |  |  | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5124315** |
| **Fulcrum Diversified Absolute Return Fund** |  |  |  |  |  |
| Consolidated Schedule of Investments (Unaudited) |  |  |  |  |  |
| September 30, 2022 |  |  |  |  |  |
| **SHORT-TERM INVESTMENTS - 59.2%** |  |  | **Principal Amount** |  | **Value** |
| **United States Treasury Bills <sup>(11)</sup>** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; 1.163%, 10/06/2022 |  |  | 2500000 | USD | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2499490 |
| &nbsp;&nbsp;&nbsp; 1.266%, 10/20/2022 |  |  | 7300000 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7291214 |
| &nbsp;&nbsp;&nbsp; 1.329%, 10/27/2022 |  |  | 5300000 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5290924 |
| &nbsp;&nbsp;&nbsp; 1.380%, 11/03/2022 |  |  | 7200000 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7183521 |
| &nbsp;&nbsp;&nbsp; 2.237%, 11/17/2022 |  |  | 8200000 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8170839 |
| &nbsp;&nbsp;&nbsp; 1.554%, 11/25/2022 |  |  | 5700000 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5676430 |
| &nbsp;&nbsp;&nbsp; 1.715%, 12/08/2022 |  |  | 9000000 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8951387 |
| &nbsp;&nbsp;&nbsp; 2.610%, 12/15/2022 |  |  | 5100000 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5070947 |
| &nbsp;&nbsp;&nbsp; 2.776%, 12/29/2022 |  |  | 8550000 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8483955 |
| &nbsp;&nbsp;&nbsp; 2.847%, 01/12/2023 |  |  | 6100000 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6044919 |
| &nbsp;&nbsp;&nbsp; 3.037%, 01/26/2023 |  |  | 8300000 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8210203 |
| &nbsp;&nbsp;&nbsp; 3.213%, 02/16/2023 |  |  | 4700000 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4637545 |
| &nbsp;&nbsp;&nbsp; 3.525%, 02/23/2023 |  |  | 9720000 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9583692 |
| &nbsp;&nbsp;&nbsp; 3.716%, 03/09/2023 |  |  | 9500000 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9345913 |
| **Total United States Treasury Bills (Cost $96,522,986)** |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 96440979 |
| **TOTAL SHORT-TERM INVESTMENTS (Cost $96,522,986)** |  |  |  |  | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 96440979** |
| **Total Investments (Cost $111,847,493) - 67.6%** |  |  |  |  | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 110135473** |
| **Other Assets in Excess of Liabilities- 32.4%** |  |  |  |  | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 52824907** |
| **TOTAL NET ASSETS - 100.0%** |  |  |  |  | $**&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;162960380** |

---

---

| | |
|:---|:---|
| <sup>ADR</sup> | American Depositary Receipt |
| <sup>(1)</sup> | Foreign issued security. |
| <sup>(2)</sup> | Non-income producing security. |
| <sup>(3)</sup> | Position held in subsidiary. |
| <sup>(4)</sup> | Dual binary option - Option only pays if both terms are met at maturity. |
| <sup>(5)</sup> | Correlation swap option - Option gives right to the Fund to short correlation swap. |
| <sup>(6)</sup> | Position includes a volatility knock-out (VKO) term. The option terminates if realized variance exceeds level indicated during the life of the option. |
| <sup>(7)</sup> | One touch option - Option pays notional if spot rate meets strike at any point during the term of the option. |
| <sup>(8)</sup> | Position includes a reverse knock-out (RKO) term at level indicated. The option intermediately terminates if the exchange rate closes at the knock-out term. |
| <sup>(9)</sup> | Position includes European reverse knock-out (ERKO) term at level indicated. The options pays out only if the exchange rate is below the indicated level at expiration. |
| <sup>(10)</sup> | Binary option - Payoff is either notional amount or option expires worthless. |
| <sup>(11)</sup> | Rate quoted is effective yield of position. |
| **<sup>a</sup>** | Counterparty abbreviations |
|  | &nbsp;&nbsp;&nbsp; CITI - Citigroup Global Markets |
|  | &nbsp;&nbsp;&nbsp; GS - Goldman Sachs |
|  | &nbsp;&nbsp;&nbsp; JPM - J.P. Morgan Investment Bank |
|  | &nbsp;&nbsp;&nbsp; MLI - Merrill Lynch |
|  | &nbsp;&nbsp;&nbsp; MS - Morgan Stanley |
|  | Reference entity abbreviations |
|  | &nbsp;&nbsp;&nbsp; CLF3 - Crude Oil Jan 23 Future |
|  | &nbsp;&nbsp;&nbsp; CLG3 - Crude Oil Feb 23 Future |
|  | &nbsp;&nbsp;&nbsp; CLH3 - Crude Oil Mar 23 Future |
|  | &nbsp;&nbsp;&nbsp; COZ2 - Brent Crude Dec 22 Future |
|  | &nbsp;&nbsp;&nbsp; SPX - S&P 500 Index |
|  | &nbsp;&nbsp;&nbsp; UKX - FTSE 100 Index |
|  | &nbsp;&nbsp;&nbsp; US2YRSOFR - 2 Year USD Swap rate |
|  | &nbsp;&nbsp;&nbsp; US10YRSOFR - 10 Year USD Swap rate |
|  | &nbsp;&nbsp;&nbsp; XAU - Gold spot price quoted in US dollar |

---

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Fulcrum Diversified Absolute Return Fund** | **Fulcrum Diversified Absolute Return Fund** |  |  |  |  |
| Consolidated Schedule of Investments (Unaudited) | Consolidated Schedule of Investments (Unaudited) |  |  |  |  |
| September 30, 2022 | September 30, 2022 |  |  |  |  |
| **WRITTEN OPTIONS - (1.5%)** | **WRITTEN OPTIONS - (1.5%)** | **Contracts** | **Notional** |  | **Value** |
| **Call Options Written - (0.6%)** | **Call Options Written - (0.6%)** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; BP Currency Oct 22 Futures at 112.5, October 7, 2022 | &nbsp;&nbsp;&nbsp; BP Currency Oct 22 Futures at 112.5, October 7, 2022 | (26) | (1816913) | USD | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15763) |
| &nbsp;&nbsp;&nbsp; BP Currency Oct 22 Futures at 108.0, October 11, 2022 | &nbsp;&nbsp;&nbsp; BP Currency Oct 22 Futures at 108.0, October 11, 2022 | (26) | (1816913) | USD | (67275) |
| &nbsp;&nbsp;&nbsp; BP Currency Oct 22 Futures at 109.5, October 11, 2022 | &nbsp;&nbsp;&nbsp; BP Currency Oct 22 Futures at 109.5, October 11, 2022 | (26) | (1816913) | USD | (46963) |
| &nbsp;&nbsp;&nbsp; BP Currency Oct 22 Futures at 111.0, October 11, 2022 | &nbsp;&nbsp;&nbsp; BP Currency Oct 22 Futures at 111.0, October 11, 2022 | (26) | (1816913) | USD | (29250) |
| &nbsp;&nbsp;&nbsp; BP Currency Dec 22 Futures at 108.0, December 9, 2022 | &nbsp;&nbsp;&nbsp; BP Currency Dec 22 Futures at 108.0, December 9, 2022 | (12) | (838575) | USD | (44925) |
| &nbsp;&nbsp;&nbsp; BP Currency Dec 22 Futures at 109.0, December 9, 2022 | &nbsp;&nbsp;&nbsp; BP Currency Dec 22 Futures at 109.0, December 9, 2022 | (20) | (1397625) | USD | (66125) |
| &nbsp;&nbsp;&nbsp; BP Currency Dec 22 Futures at 110.5, December 9, 2022 | &nbsp;&nbsp;&nbsp; BP Currency Dec 22 Futures at 110.5, December 9, 2022 | (12) | (838575) | USD | (32400) |
| &nbsp;&nbsp;&nbsp; BP Currency Dec 22 Futures at 111.0, December 9, 2022 | &nbsp;&nbsp;&nbsp; BP Currency Dec 22 Futures at 111.0, December 9, 2022 | (20) | (1397625) | USD | (50250) |
| &nbsp;&nbsp;&nbsp; BP Currency Dec 22 Futures at 113.0, December 9, 2022 | &nbsp;&nbsp;&nbsp; BP Currency Dec 22 Futures at 113.0, December 9, 2022 | (12) | (838575) | USD | (22125) |
| &nbsp;&nbsp;&nbsp; BP Currency Dec 22 Futures at 113.5, December 9, 2022 | &nbsp;&nbsp;&nbsp; BP Currency Dec 22 Futures at 113.5, December 9, 2022 | (20) | (1397625) | USD | (33875) |
| &nbsp;&nbsp;&nbsp; BP Currency Dec 22 Futures at 116.5, December 9, 2022 | &nbsp;&nbsp;&nbsp; BP Currency Dec 22 Futures at 116.5, December 9, 2022 | (32) | (2236200) | USD | (31400) |
| &nbsp;&nbsp;&nbsp; CBOE Volatility Index (VIX) at $42.5, October 5, 2022 | &nbsp;&nbsp;&nbsp; CBOE Volatility Index (VIX) at $42.5, October 5, 2022 | (68) | (215016) | USD | (1530) |
| &nbsp;&nbsp;&nbsp; CBOE Volatility Index (VIX) at $30.0, October 19, 2022 | &nbsp;&nbsp;&nbsp; CBOE Volatility Index (VIX) at $30.0, October 19, 2022 | (310) | (980220) | USD | (116250) |
| &nbsp;&nbsp;&nbsp; CBOE Volatility Index (VIX) at $32.5, October 19, 2022 | &nbsp;&nbsp;&nbsp; CBOE Volatility Index (VIX) at $32.5, October 19, 2022 | (310) | (980220) | USD | (92225) |
| &nbsp;&nbsp;&nbsp; CBOE Volatility Index (VIX) at $37.5, October 19, 2022 | &nbsp;&nbsp;&nbsp; CBOE Volatility Index (VIX) at $37.5, October 19, 2022 | (310) | (980220) | USD | (57350) |
| &nbsp;&nbsp;&nbsp; CBOE Volatility Index (VIX) at $42.5, October 19, 2022 | &nbsp;&nbsp;&nbsp; CBOE Volatility Index (VIX) at $42.5, October 19, 2022 | (310) | (980220) | USD | (36425) |
| &nbsp;&nbsp;&nbsp; Copper Nov 22 Futures at $350, October 26, 2022 <sup>(1)</sup> | &nbsp;&nbsp;&nbsp; Copper Nov 22 Futures at $350, October 26, 2022 <sup>(1)</sup> | (42) | (3583125) | USD | (77175) |
| &nbsp;&nbsp;&nbsp; Copper Nov 22 Futures at $390, October 26, 2022 <sup>(1)</sup> | &nbsp;&nbsp;&nbsp; Copper Nov 22 Futures at $390, October 26, 2022 <sup>(1)</sup> | (8) | (682500) | USD | (1400) |
| &nbsp;&nbsp;&nbsp; Crude Oil Dec 22 Futures at $160, October 26, 2022 <sup>(1)</sup> | &nbsp;&nbsp;&nbsp; Crude Oil Dec 22 Futures at $160, October 26, 2022 <sup>(1)</sup> | (90) | (7662600) | USD | (3600) |
| &nbsp;&nbsp;&nbsp; Euro STOXX 50 Index Dividend Futures at 130, December 15, 2023 | &nbsp;&nbsp;&nbsp; Euro STOXX 50 Index Dividend Futures at 130, December 15, 2023 | (149) | (1657095) | EUR | (1168) |
| &nbsp;&nbsp;&nbsp; Gold Jan 23 Futures at $1,800, December 27, 2022 <sup>(1)</sup> | &nbsp;&nbsp;&nbsp; Gold Jan 23 Futures at $1,800, December 27, 2022 <sup>(1)</sup> | (53) | (8929970) | USD | (113534) |
| &nbsp;&nbsp;&nbsp; Natural Gas Nov 22 Futures at $7.25, October 26, 2022 <sup>(1)</sup> | &nbsp;&nbsp;&nbsp; Natural Gas Nov 22 Futures at $7.25, October 26, 2022 <sup>(1)</sup> | (3) | (202980) | USD | (15369) |
| &nbsp;&nbsp;&nbsp; Natural Gas Nov 22 Futures at $7.80, October 26, 2022 <sup>(1)</sup> | &nbsp;&nbsp;&nbsp; Natural Gas Nov 22 Futures at $7.80, October 26, 2022 <sup>(1)</sup> | (3) | (202980) | USD | (10992) |
| &nbsp;&nbsp;&nbsp; Natural Gas Nov 22 Futures at $8.35, October 26, 2022 <sup>(1)</sup> | &nbsp;&nbsp;&nbsp; Natural Gas Nov 22 Futures at $8.35, October 26, 2022 <sup>(1)</sup> | (5) | (338300) | USD | (13155) |
| &nbsp;&nbsp;&nbsp; Natural Gas Nov 22 Futures at $8.55, October 26, 2022 <sup>(1)</sup> | &nbsp;&nbsp;&nbsp; Natural Gas Nov 22 Futures at $8.55, October 26, 2022 <sup>(1)</sup> | (3) | (202980) | USD | (7011) |
| &nbsp;&nbsp;&nbsp; Natural Gas Nov 22 Futures at $9.05, October 26, 2022 <sup>(1)</sup> | &nbsp;&nbsp;&nbsp; Natural Gas Nov 22 Futures at $9.05, October 26, 2022 <sup>(1)</sup> | (5) | (338300) | USD | (8745) |
| &nbsp;&nbsp;&nbsp; Natural Gas Nov 22 Futures at $9.70, October 26, 2022 <sup>(1)</sup> | &nbsp;&nbsp;&nbsp; Natural Gas Nov 22 Futures at $9.70, October 26, 2022 <sup>(1)</sup> | (3) | (202980) | USD | (3669) |
| &nbsp;&nbsp;&nbsp; Natural Gas Nov 22 Futures at $10.00, October 26, 2022 <sup>(1)</sup> | &nbsp;&nbsp;&nbsp; Natural Gas Nov 22 Futures at $10.00, October 26, 2022 <sup>(1)</sup> | (5) | (338300) | USD | (5220) |
| &nbsp;&nbsp;&nbsp; Natural Gas Nov 22 Futures at $11.50, October 26, 2022 <sup>(1)</sup> | &nbsp;&nbsp;&nbsp; Natural Gas Nov 22 Futures at $11.50, October 26, 2022 <sup>(1)</sup> | (5) | (338300) | USD | (2615) |
| **Total Call Options Written (Premiums Received $859,197)** | **Total Call Options Written (Premiums Received $859,197)** |  |  |  | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1007784)** |
| **Put Options Written - (0.9%)** | **Put Options Written - (0.9%)** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; BP Currency Oct 22 Futures at 101.5, October 7, 2022 | &nbsp;&nbsp;&nbsp; BP Currency Oct 22 Futures at 101.5, October 7, 2022 | (26) | (1816913) | USD | (325) |
| &nbsp;&nbsp;&nbsp; BP Currency Oct 22 Futures at 104.0, October 7, 2022 | &nbsp;&nbsp;&nbsp; BP Currency Oct 22 Futures at 104.0, October 7, 2022 | (26) | (1816913) | USD | (1138) |
| &nbsp;&nbsp;&nbsp; BP Currency Oct 22 Futures at 105.5, October 7, 2022 | &nbsp;&nbsp;&nbsp; BP Currency Oct 22 Futures at 105.5, October 7, 2022 | (26) | (1816913) | USD | (1950) |
| &nbsp;&nbsp;&nbsp; BP Currency Oct 22 Futures at 107.0, October 7, 2022 | &nbsp;&nbsp;&nbsp; BP Currency Oct 22 Futures at 107.0, October 7, 2022 | (26) | (1816913) | USD | (3575) |
| &nbsp;&nbsp;&nbsp; BP Currency Dec 22 Futures at 96.0, December 9, 2022 | &nbsp;&nbsp;&nbsp; BP Currency Dec 22 Futures at 96.0, December 9, 2022 | (12) | (838575) | USD | (3450) |
| &nbsp;&nbsp;&nbsp; BP Currency Dec 22 Futures at 98.0, December 9, 2022 | &nbsp;&nbsp;&nbsp; BP Currency Dec 22 Futures at 98.0, December 9, 2022 | (20) | (1397625) | USD | (7625) |
| &nbsp;&nbsp;&nbsp; BP Currency Dec 22 Futures at 100.0, December 9, 2022 | &nbsp;&nbsp;&nbsp; BP Currency Dec 22 Futures at 100.0, December 9, 2022 | (12) | (838575) | USD | (6000) |
| &nbsp;&nbsp;&nbsp; BP Currency Dec 22 Futures at 102.0, December 9, 2022 | &nbsp;&nbsp;&nbsp; BP Currency Dec 22 Futures at 102.0, December 9, 2022 | (20) | (1397625) | USD | (12875) |
| &nbsp;&nbsp;&nbsp; BP Currency Dec 22 Futures at 103.5, December 9, 2022 | &nbsp;&nbsp;&nbsp; BP Currency Dec 22 Futures at 103.5, December 9, 2022 | (12) | (838575) | USD | (9375) |
| &nbsp;&nbsp;&nbsp; BP Currency Dec 22 Futures at 105.0, December 9, 2022 | &nbsp;&nbsp;&nbsp; BP Currency Dec 22 Futures at 105.0, December 9, 2022 | (20) | (1397625) | USD | (18875) |
| &nbsp;&nbsp;&nbsp; BP Currency Dec 22 Futures at 106.0, December 9, 2022 | &nbsp;&nbsp;&nbsp; BP Currency Dec 22 Futures at 106.0, December 9, 2022 | (12) | (838575) | USD | (12825) |
| &nbsp;&nbsp;&nbsp; BP Currency Dec 22 Futures at 107.0, December 9, 2022 | &nbsp;&nbsp;&nbsp; BP Currency Dec 22 Futures at 107.0, December 9, 2022 | (20) | (1397625) | USD | (24250) |
| &nbsp;&nbsp;&nbsp; CBOE Volatility Index (VIX) at $24, October 19, 2022 | &nbsp;&nbsp;&nbsp; CBOE Volatility Index (VIX) at $24, October 19, 2022 | (310) | (980220) | USD | (4650) |
| &nbsp;&nbsp;&nbsp; CBOE Volatility Index (VIX) at $25, October 19, 2022 | &nbsp;&nbsp;&nbsp; CBOE Volatility Index (VIX) at $25, October 19, 2022 | (310) | (980220) | USD | (9300) |
| &nbsp;&nbsp;&nbsp; CBOE Volatility Index (VIX) at $27, October 19, 2022 | &nbsp;&nbsp;&nbsp; CBOE Volatility Index (VIX) at $27, October 19, 2022 | (310) | (980220) | USD | (27125) |
| &nbsp;&nbsp;&nbsp; CBOE Volatility Index (VIX) at $28, October 19, 2022 | &nbsp;&nbsp;&nbsp; CBOE Volatility Index (VIX) at $28, October 19, 2022 | (310) | (980220) | USD | (41075) |
| &nbsp;&nbsp;&nbsp; Copper Nov 22 Futures at $320, October 26, 2022 <sup>(1)</sup> | &nbsp;&nbsp;&nbsp; Copper Nov 22 Futures at $320, October 26, 2022 <sup>(1)</sup> | (40) | (3412500) | USD | (39000) |
| &nbsp;&nbsp;&nbsp; Crude Oil Dec 22 Future at $80, October 26, 2022 <sup>(1)</sup> | &nbsp;&nbsp;&nbsp; Crude Oil Dec 22 Future at $80, October 26, 2022 <sup>(1)</sup> | (39) | (3320460) | USD | (96330) |
| &nbsp;&nbsp;&nbsp; Euro STOXX 50 Index Futures at 3,300, October 21, 2022 <sup>(1)</sup> | &nbsp;&nbsp;&nbsp; Euro STOXX 50 Index Futures at 3,300, October 21, 2022 <sup>(1)</sup> | (249) | (8088809) | EUR | (194493) |
| &nbsp;&nbsp;&nbsp; FTSE 100 Index at 6,300, March 17, 2023 <sup>(1)</sup> | &nbsp;&nbsp;&nbsp; FTSE 100 Index at 6,300, March 17, 2023 <sup>(1)</sup> | (117) | (8977188) | GBP | (264537) |
| &nbsp;&nbsp;&nbsp; FTSE 100 Index at 6,500, December 15, 2023 <sup>(1)</sup> | &nbsp;&nbsp;&nbsp; FTSE 100 Index at 6,500, December 15, 2023 <sup>(1)</sup> | (105) | (8056451) | GBP | (473052) |
| &nbsp;&nbsp;&nbsp; Natural Gas Nov 22 Futures at $5.40, October 26, 2022 <sup>(1)</sup> | &nbsp;&nbsp;&nbsp; Natural Gas Nov 22 Futures at $5.40, October 26, 2022 <sup>(1)</sup> | (3) | (202980) | USD | (4416) |
| &nbsp;&nbsp;&nbsp; Natural Gas Nov 22 Futures at $5.90, October 26, 2022 <sup>(1)</sup> | &nbsp;&nbsp;&nbsp; Natural Gas Nov 22 Futures at $5.90, October 26, 2022 <sup>(1)</sup> | (3) | (202980) | USD | (8598) |
| &nbsp;&nbsp;&nbsp; Natural Gas Nov 22 Futures at $6.00, October 26, 2022 <sup>(1)</sup> | &nbsp;&nbsp;&nbsp; Natural Gas Nov 22 Futures at $6.00, October 26, 2022 <sup>(1)</sup> | (5) | (338300) | USD | (16130) |
| &nbsp;&nbsp;&nbsp; Natural Gas Nov 22 Futures at $6.35, October 26, 2022 <sup>(1)</sup> | &nbsp;&nbsp;&nbsp; Natural Gas Nov 22 Futures at $6.35, October 26, 2022 <sup>(1)</sup> | (3) | (202980) | USD | (14100) |
| &nbsp;&nbsp;&nbsp; Natural Gas Nov 22 Futures at $6.65, October 26, 2022 <sup>(1)</sup> | &nbsp;&nbsp;&nbsp; Natural Gas Nov 22 Futures at $6.65, October 26, 2022 <sup>(1)</sup> | (5) | (338300) | USD | (31175) |
| &nbsp;&nbsp;&nbsp; Natural Gas Nov 22 Futures at $6.75, October 26, 2022 <sup>(1)</sup> | &nbsp;&nbsp;&nbsp; Natural Gas Nov 22 Futures at $6.75, October 26, 2022 <sup>(1)</sup> | (3) | (202980) | USD | (20391) |
| &nbsp;&nbsp;&nbsp; Natural Gas Nov 22 Futures at $7.20, October 26, 2022 <sup>(1)</sup> | &nbsp;&nbsp;&nbsp; Natural Gas Nov 22 Futures at $7.20, October 26, 2022 <sup>(1)</sup> | (5) | (338300) | USD | (48065) |
| &nbsp;&nbsp;&nbsp; Natural Gas Nov 22 Futures at $7.70, October 26, 2022 <sup>(1)</sup> | &nbsp;&nbsp;&nbsp; Natural Gas Nov 22 Futures at $7.70, October 26, 2022 <sup>(1)</sup> | (5) | (338300) | USD | (66065) |
| **Total Put Options Written (Premiums Received $1,433,671)** | **Total Put Options Written (Premiums Received $1,433,671)** |  |  |  | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1460765)** |
| **TOTAL WRITTEN OPTIONS (Premiums Received $2,292,868)** | **TOTAL WRITTEN OPTIONS (Premiums Received $2,292,868)** |  |  |  | $**&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2468549)** |
| <sup>(1)</sup> | Position held in subsidiary. |  |  |  |  |

---

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Fulcrum Diversified Absolute Return Fund** | **Fulcrum Diversified Absolute Return Fund** | **Fulcrum Diversified Absolute Return Fund** |  |  |  |
| Consolidated Schedule of Investments (Unaudited) | Consolidated Schedule of Investments (Unaudited) | Consolidated Schedule of Investments (Unaudited) |  |  |  |
| September 30, 2022 | September 30, 2022 |  |  |  |  |
| **FORWARD CURRENCY CONTRACTS** <sup>(1)</sup> | **FORWARD CURRENCY CONTRACTS** <sup>(1)</sup> | **FORWARD CURRENCY CONTRACTS** <sup>(1)</sup> |  |  |  |
| **Settlement** | **Currency** | **Pay** | **Currency** | **Receive** | **Unrealized** |
| **Date** | **Delivered** | **Amount** | **Received** | **Amount** | **Gain/(Loss)** |
| 10/11/2022 | CNH | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 36869632 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5120000 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(45135) |
| 10/11/2022 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5120000 | CNH | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 36870502 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45257 |
| 10/28/2022 | HUF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 547135075 | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1314992 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34531 |
| 10/28/2022 | HUF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 74311868 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;174298 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3601 |
| 10/28/2022 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20000 | HUF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8568366 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(318) |
| 10/31/2022 | CHF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1456992 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1482940 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2127 |
| 10/31/2022 | CNH | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 56315018 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7833156 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (58525) |
| 10/31/2022 | CZK | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 33191534 | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1337172 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (4681) |
| 10/31/2022 | DKK | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1422087 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;184883 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2989) |
| 10/31/2022 | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;881608 | CZK | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 21858778 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2106 |
| 10/31/2022 | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3826225 | GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3430226 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74446 |
| 10/31/2022 | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;870401 | ILS | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2937537 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (28906) |
| 10/31/2022 | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;812375 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;785178 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (12745) |
| 10/31/2022 | GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3433946 | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3826225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (78602) |
| 10/31/2022 | GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;983206 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1060527 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (38013) |
| 10/31/2022 | MXN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 107099467 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5238968 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (47594) |
| 10/31/2022 | NOK | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7560039 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;703941 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9455 |
| 10/31/2022 | NZD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10359 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5908 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 109 |
| 10/31/2022 | PLN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25732661 | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5356836 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97222 |
| 10/31/2022 | PLN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;358665 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 72156 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 175 |
| 10/31/2022 | SEK | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16187864 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1438214 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (22543) |
| 10/31/2022 | SGD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;158036 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (66) |
| 10/31/2022 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 60000 | CHF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 59132 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 98 |
| 10/31/2022 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2713035 | CNH | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19520045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22398 |
| 10/31/2022 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;433366 | MXN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8859237 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3937 |
| 10/31/2022 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 70000 | NOK | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;757321 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(430) |
| 10/31/2022 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20000 | PLN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100576 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 185 |
| 10/31/2022 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;130000 | SEK | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1476875 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3270 |
| 10/31/2022 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6207658 | SGD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8911693 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(988) |
| 10/31/2022 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2565069 | ZAR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 46079556 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (26600) |
| 12/21/2022 | BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2785433 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;523000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16345 |
| 12/21/2022 | CLP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 885769924 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;938467 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37770 |
| 12/21/2022 | IDR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15138901056 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;994000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2514 |
| 12/21/2022 | INR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 485740943 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5989251 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64756 |
| 12/21/2022 | KRW | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 55621440 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 40000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 986 |
| 12/21/2022 | PHP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 70407005 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1214667 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16004 |
| 12/21/2022 | THB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 48701430 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1294121 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (5242) |
| 12/21/2022 | TRY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8590110 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;426054 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8430 |
| 12/21/2022 | TWD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 128569941 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4182559 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 106228 |
| 12/21/2022 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6869066 | BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 36559439 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (219102) |
| 12/21/2022 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;423588 | CLP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 421803531 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5324 |
| 12/21/2022 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;153077 | IDR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2293250007 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2886) |
| 12/21/2022 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4183311 | INR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 343668454 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8352 |
| 12/21/2022 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2540323 | KRW | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3512640142 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (76476) |
| 12/21/2022 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;520000 | PHP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 30944562 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6824 |
| 12/21/2022 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1316000 | THB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 48701430 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (16637) |
| 12/21/2022 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 22490 | TRY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;452036 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(513) |
| 12/21/2022 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;555000 | TWD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17395137 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3484) |
|  |  |  |  |  | $**&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(120025)** |
| <sup>(1)</sup> J.P. Morgan Securities, Inc. is the counterparty to all contracts. | <sup>(1)</sup> J.P. Morgan Securities, Inc. is the counterparty to all contracts. | <sup>(1)</sup> J.P. Morgan Securities, Inc. is the counterparty to all contracts. |  |  |  |

---

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Fulcrum Diversified Absolute Return Fund** | **Fulcrum Diversified Absolute Return Fund** | **Fulcrum Diversified Absolute Return Fund** |  |  |  |  |
| Consolidated Schedule of Investments (Unaudited) | Consolidated Schedule of Investments (Unaudited) | Consolidated Schedule of Investments (Unaudited) |  |  |  |  |
| September 30, 2022 | September 30, 2022 |  |  |  |  |  |
|  | **FUTURES CONTRACTS** |  |  |  |  |  |
|  | **Description** | **Number of<br> Contracts<br> Long (Short)** | **Expiration Date** | **Notional<br> Amount** |  | **Unrealized<br> Gain/(Loss)** |
|  | Amsterdam Exchanges Index | 1 | October 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 125573 | EUR | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7876) |
|  | Australia SPI 200 Index | 3 | December 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 310199 | AUD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (27153) |
|  | Australian 10 Year Government Bond | (3) | December 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (224741) | AUD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6081 |
|  | Australian Dollar | 260 | December 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16680300 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(549128) |
| \* | Brent Crude | (3) | October 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (255420) | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7115 |
| \* | Brent Crude | 82 | October 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6133600 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(872282) |
|  | British Pound | (171) | December 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11949694) | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(404566) |
|  | CAC 40 Index | 8 | October 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 451880 | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (35987) |
|  | Canadian 10 Year Government Bond | 22 | December 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1968350 | CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (19618) |
|  | Canadian Dollar | (20) | December 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1447900) | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56563 |
| \* | Canola | (6) | November 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (74015) | CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4283) |
|  | CBOE Volatility Index | 56 | October 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1764896 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78846 |
|  | CBOE Volatility Index | 5 | November 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 155359 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7799 |
| \* | Cocoa | (8) | December 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (188320) | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3698 |
| \* | Copper | (49) | December 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (4180313) | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 185107 |
| \* | Corn | 6 | December 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 203250 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12813 |
| \* | Cotton No. 2 | 1 | December 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42670 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9145) |
| \* | Crude Oil | (4) | October 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (317960) | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12600 |
|  | DAX Mini | (6) | December 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (356756) | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11844 |
|  | E-mini Dow | (1) | December 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (144005) | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4045 |
|  | E-mini Russell 2000 Index | (1) | December 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (83490) | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4200 |
|  | E-mini S&P 500 | 91 | December 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16386825 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1529725) |
|  | E-mini S&P 500 Energy Sector Index | 1 | December 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75350 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9880) |
|  | Euro FX Currency | 12 | December 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1479225 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17436 |
|  | EURO STOXX 50 Dividend Index | (39) | December 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (434200) | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1705) |
|  | EURO STOXX 50 Dividend Index | (60) | December 2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (580383) | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53716 |
|  | EURO STOXX 50 Dividend Index | (62) | December 2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (568133) | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74111 |
|  | Euro STOXX 50 Index | 86 | December 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2794014 | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(122055) |
|  | Euro STOXX 50 Volatility Index | 1 | October 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3053 | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 282 |
|  | Euro STOXX 50 Volatility Index | 29 | November 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87538 | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3455 |
|  | Euro-BTP Italian Government Bond | (1) | December 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (109746) | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4253 |
|  | Euro-Bund | 22 | December 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2985985 | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2832 |
|  | Euro-BUXL 30 Year Bond | 6 | December 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 862284 | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (78286) |
|  | Euro-OAT | (9) | December 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1165353) | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9526 |
| \* | European Climate Exchange Emission Allowances | 26 | December 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1700361 | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(315712) |
|  | Euro-Schatz | 44 | December 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4715260 | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2960) |
| \* | Feeder Cattle | (1) | November 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (87313) | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5500 |
|  | FTSE 100 Index | 87 | December 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6716705 | GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(336515) |
|  | FTSE 250 Index | (173) | December 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (6612524) | GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 568061 |
| \* | Gold 100 oz | 58 | December 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9697600 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(207240) |
|  | Hang Seng China Enterprises Index | (37) | October 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1393807) | HKD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57901 |
|  | Japan 10 Year Bond | (16) | December 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(16394666) | JPY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9051 |
|  | Japanese Yen | 81 | December 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7050544 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (50188) |
|  | Korea 3 Year Bond | (6) | December 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (427259) | KRW | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4147 |
|  | Korea 10 Year Bond | 26 | December 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1949046 | KRW | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (39295) |
|  | Korea Stock Exchange KOSPI 200 Index | (4) | December 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (197421) | KRW | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21840 |
| \* | Lean Hogs | 6 | December 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 182940 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (15800) |
| \* | Live Cattle | 2 | December 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 117640 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2710) |
| \* | London Metal Exchange Copper | 4 | October 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 768800 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13789 |
| \* | London Metal Exchange Copper | (4) | October 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (768800) | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12147 |
| \* | London Metal Exchange Copper | 2 | November 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 381800 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (12993) |
| \* | London Metal Exchange Copper | (6) | November 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1145400) | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (20352) |
| **Fulcrum Diversified Absolute Return Fund** | **Fulcrum Diversified Absolute Return Fund** | **Fulcrum Diversified Absolute Return Fund** |  |  |  |  |
| Consolidated Schedule of Investments (Unaudited) | Consolidated Schedule of Investments (Unaudited) | Consolidated Schedule of Investments (Unaudited) |  |  |  |  |
| September 30, 2022 | September 30, 2022 |  |  |  |  |  |
|  | **FUTURES CONTRACTS (Continued)** |  |  |  |  |  |
|  | **Description** | **Number of<br> Contracts<br> Long (Short)** | **Expiration Date** | **Notional<br> Amount** |  | **Unrealized<br> Gain/(Loss)** |
| \* | London Metal Exchange Lead | 2 | October 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95725 | USD | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5370) |
| \* | London Metal Exchange Lead | (2) | October 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (95725) | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6519 |
| \* | London Metal Exchange Lead | 1 | November 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47825 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1964 |
| \* | London Metal Exchange Lead | (3) | November 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (143475) | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2940) |
| \* | London Metal Exchange Nickel | 1 | October 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 126072 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (10587) |
| \* | London Metal Exchange Nickel | (1) | October 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (126072) | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5775) |
| \* | London Metal Exchange Nickel | 1 | November 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 126330 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5865 |
| \* | London Metal Exchange Primary Aluminum | 1 | October 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54106 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3396) |
| \* | London Metal Exchange Primary Aluminum | (1) | October 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (54106) | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7210 |
| \* | London Metal Exchange Primary Aluminum | (2) | November 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (107663) | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5726 |
|  | Long Gilt | (104) | December 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(11194033) | GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1136877 |
| \* | Low Sulphur Gas Oil | 1 | November 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94175 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6050) |
|  | Mexican Peso | 17 | December 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 416585 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15 |
|  | MSCI Emerging Markets Index | (23) | December 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1002225) | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 137281 |
|  | MSCI World Index | 17 | December 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1267690 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(162010) |
| \* | Natural Gas | (4) | October 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (270640) | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3930 |
|  | New Zealand Dollar | (51) | December 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2862885) | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 137929 |
|  | Nikkei 225 (OSE) | 19 | December 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3405376 | JPY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(108132) |
|  | Nikkei 225 Mini | 54 | December 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 967844 | JPY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (58143) |
|  | Norwegian Krone | 45 | December 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8281800 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(611862) |
|  | OMX 30 Index | 5 | October 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82450 | SEK | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3803) |
| \* | Platinum | 6 | January 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 257730 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7045 |
| \* | Robusta Coffee | 3 | November 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64590 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2360) |
|  | S&P 500 Dividend Index | 48 | December 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 772800 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (15000) |
|  | S&P 500 Dividend Index | 36 | December 2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 542250 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (25650) |
|  | S&P 500 Dividend Index | 35 | February 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 525000 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (26250) |
|  | S&P/Toronto Stock Exchange 60 Index | (2) | December 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (323162) | CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 666 |
|  | SGX MSCI Singapore Index | (5) | October 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (97702) | SGD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 343 |
| \* | SGX TSI Iron Ore | (1) | October 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (9546) | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 59 |
| \* | SGX TSI Iron Ore | (8) | November 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (75392) | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (407) |
|  | Short-Term Euro-BTP | (48) | December 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (4954487) | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41848 |
| \* | Silver | (1) | December 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (95195) | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1755 |
| \* | Soybean | 2 | November 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 136475 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6284) |
| \* | Soybean Meal | 2 | December 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80600 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3150 |
| \* | Soybean Oil | 1 | December 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36936 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2376) |
|  | STOXX 600 Banks Index | 2 | December 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31695 | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4890) |
| \* | Sugar No. 11 | (1) | February 2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (19802) | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 235 |
|  | Swedish Krona | (10) | December 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1810200) | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37604 |
|  | U.S. 5 Year Treasury Note | (21) | December 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2257664) | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30547 |
|  | U.S. 10 Year Treasury Note | 260 | December 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 29136250 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(113422) |
| \* | UK Emission Allowances | (35) | December 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2932103) | GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 379100 |
| \* | White Sugar | 4 | November 2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 105740 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5025 |
|  |  |  |  |  |  | $**&nbsp;&nbsp;&nbsp;&nbsp;(2650710)** |
| \* | Position held in Subsidiary |  |  |  |  |  |

---

------

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Fulcrum Diversified Absolute Return Fund** | **Fulcrum Diversified Absolute Return Fund** | **Fulcrum Diversified Absolute Return Fund** |  |  |  |  |  |  |  |
| Consolidated Schedule of Investments (Unaudited) | Consolidated Schedule of Investments (Unaudited) | Consolidated Schedule of Investments (Unaudited) |  |  |  |  |  |  |  |
| September 30, 2022 | September 30, 2022 |  |  |  |  |  |  |  |  |
| **INTEREST RATE SWAPS \*** |  |  |  |  |  |  |  |  |  |
| **Rate paid <sup>1</sup>** | **Rate received <sup>1</sup>** | **Payment<br> Frequency** | **Effective Date** | **Termination<br> Date** | **Notional<br> Amount** |  | **Value** | **Premium Paid (Received)** | **Unrealized<br> Gain/(Loss)** |
| AUD-BBR BBSW 3.569% | 4.223% | 6 Month | 12/21/2022 | 12/21/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1736000 | AUD | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(20373) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(29200) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8827 |
| 11.643% | BRL-CDI 13.65% | At maturity | 9/22/2022 | 1/2/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 22427234 | BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (6761) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6761) |
| 4.140% | CAD-BA-CDOR 4.20% | 6 Month | 12/21/2022 | 12/21/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6176400 | CAD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4804 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1369 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3435 |
| 4.990% | CLP-TNA 2.03% | 6 Month | 12/21/2022 | 12/21/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 343600000 | CLP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 44985 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1377) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 46362 |
| CNY-CNREPOFIX 2.571% | 2.370% | 3 Month | 12/21/2022 | 12/21/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2900000 | CNY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3761) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 152 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3913) |
| 2.215% | EUR-EuroSTR (0.46%) | 12 Month | 12/21/2022 | 12/21/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1009500 | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 54365 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20816 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 33549 |
| GBP-SONIA 0.714% | 5.474% | 12 Month | 12/21/2022 | 12/21/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4357800 | GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - |
| 4.425% | GBP-SONIA 0.714% | 12 Month | 12/21/2022 | 12/21/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1803300 | GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 58464 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 58464 |
| 3.604% | HKD-HIBOR-HKAB 3.333% | 3 Month | 12/21/2022 | 12/21/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5330000 | HKD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12327 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12341 |
| HKD-HIBOR-HKAB 3.333% | 3.454% | 3 Month | 12/21/2022 | 12/21/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3300000 | HKD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (15130) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (374) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (14756) |
| 12.961% | HUF-BUBOR 13.70% | 6 Month | 12/21/2022 | 12/21/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 164050000 | HUF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (8618) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 969 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9587) |
| 9.236% | HUF-BUBOR 13.70% | 6 Month | 12/21/2022 | 12/21/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 89800000 | HUF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6327 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 438 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5889 |
| 3.230% | ILS-TELBOR01 2.60% | 3 Month | 12/21/2022 | 12/21/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1500000 | ILS | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13362 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (474) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13836 |
| 6.630% | INR-FBIL-MIBOR 6.17% | 6 Month | 12/21/2022 | 12/21/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 216102800 | INR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 35673 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (5038) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 40711 |
| 1.129% | JPY-TONA-OIS (0.023%) | 12 Month | 12/21/2022 | 12/21/2062 | &nbsp;&nbsp;&nbsp;&nbsp; 59500000 | JPY | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6335 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 64 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6271 |
| MXN-TIIE-Banxico 9.54% | 9.070% | 28 Days | 12/21/2022 | 12/17/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 71180600 | MXN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (42675) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 675 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (43350) |
| 8.700% | MXN-TIIE-Banxico 9.54% | 28 Days | 12/21/2022 | 12/8/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | MXN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;747 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;747 |
| 3.961% | NOK-NIBOR 3.46% | 6 Month | 12/21/2022 | 12/21/2024 | &nbsp;&nbsp;&nbsp;&nbsp; 48079500 | NOK | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (25860) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (746) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (25114) |
| 3.547% | NOK-NIBOR 3.46% | 6 Month | 12/21/2022 | 12/21/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3100000 | NOK | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (790) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (827) |
| 4.282% | NZD-BBR-FRA 3.00% | 3 Month | 12/21/2022 | 12/21/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2600000 | NZD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17720 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 970 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16750 |
| NZD-BBR-FRA 3.00% | 4.168% | 3 Month | 12/21/2022 | 12/21/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7519300 | NZD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (76229) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (33475) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (42754) |
| 6.909% | PLN-WIBOR-WIBO 7.31% | 6 Month | 12/21/2022 | 12/21/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1000000 | PLN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1814 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1765 |
| 6.454% | PLN-WIBOR-WIBO 7.31% | 6 Month | 12/21/2022 | 12/21/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | PLN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(91) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 91 |
| PLN-WIBOR-WIBO 7.31% | 6.211% | 6 Month | 12/21/2022 | 12/21/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;800000 | PLN | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (7050) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7059) |
| SEK-STIBOR 1.73% | 2.906% | 3 Month | 12/21/2022 | 12/21/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 11302300 | SEK | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (23839) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (6443) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (17396) |
| 3.162% | SGD-SORA 1.37% | 6 Month | 12/21/2022 | 12/21/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2900000 | SGD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 23247 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 23203 |
| 3.010% | SGD-SORA 1.37% | 6 Month | 12/21/2022 | 12/21/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | SGD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5105 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5097 |
| 2.140% | THB-THOR 1.16% | 3 Month | 12/21/2022 | 12/21/2024 | &nbsp;&nbsp;&nbsp;&nbsp; 81483000 | THB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12691 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6618 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6073 |
| 2.600% | THB-THOR 1.16% | 3 Month | 12/21/2022 | 12/21/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 73010300 | THB | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 32323 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (7095) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 39418 |
| 1.420% | TWD-TAIBOR 1.05% | 3 Month | 12/21/2022 | 12/21/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 70600000 | TWD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (8444) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1498 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9942) |
| USD-LIBOR-BBA 3.75% | 3.661% | 3 Month | 12/21/2022 | 12/21/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (5374) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5385) |
| ZAR-JIBAR-SAFEX 6.47% | 9.272% | 3 Month | 12/21/2022 | 12/21/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6700000 | ZAR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (11796) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (149) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (11647) |
| **Total of Interest Rate Swaps** |  |  |  |  |  |  | $**&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73589** | $**&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(50749)** | $**&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;124338** |
| \* Counterparty is J.P. Morgan Investment Bank | \* Counterparty is J.P. Morgan Investment Bank |  |  |  |  |  |  |  |  |
| <sup>1</sup> Floating rate definitions |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AUD-BBR-BBSW - Australian Bank Bill Short Term Rate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AUD-BBR-BBSW - Australian Bank Bill Short Term Rate |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BRL-CDI - Brazil Average One-Day Interbank Deposit | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BRL-CDI - Brazil Average One-Day Interbank Deposit |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CAD-BA-CDOR - Canada 3 Month Interbank Rate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CAD-BA-CDOR - Canada 3 Month Interbank Rate |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CLP-TNA - Chile Indice de Camara Promedio Interbank Overnight Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CLP-TNA - Chile Indice de Camara Promedio Interbank Overnight Index | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CLP-TNA - Chile Indice de Camara Promedio Interbank Overnight Index |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CNY-CNREPOFIX - China Foreign Exchange Trade System 7 day Interbank Repo Fixing Rate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CNY-CNREPOFIX - China Foreign Exchange Trade System 7 day Interbank Repo Fixing Rate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CNY-CNREPOFIX - China Foreign Exchange Trade System 7 day Interbank Repo Fixing Rate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CNY-CNREPOFIX - China Foreign Exchange Trade System 7 day Interbank Repo Fixing Rate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CNY-CNREPOFIX - China Foreign Exchange Trade System 7 day Interbank Repo Fixing Rate |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EUR-EuroSTR - Compounded averages of Euro Short-Term Rate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EUR-EuroSTR - Compounded averages of Euro Short-Term Rate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EUR-EuroSTR - Compounded averages of Euro Short-Term Rate |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GBP-SONIA - Sterling Overnight Index Average | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GBP-SONIA - Sterling Overnight Index Average |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; HKD-HIBOR-HKAB - Hong Kong Inter-Bank Offered Rate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; HKD-HIBOR-HKAB - Hong Kong Inter-Bank Offered Rate |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; HUF-BUBOR - Budapest Inter-Bank Offered Rate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; HUF-BUBOR - Budapest Inter-Bank Offered Rate |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ILS-TELBOR01 - Bank of Israel Tel Aviv Interbank Offered Rate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ILS-TELBOR01 - Bank of Israel Tel Aviv Interbank Offered Rate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ILS-TELBOR01 - Bank of Israel Tel Aviv Interbank Offered Rate |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; INR-FBIL-MIBOR - Financial Benchmarks India Overnight Mumbai Interbank Outright Rate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; INR-FBIL-MIBOR - Financial Benchmarks India Overnight Mumbai Interbank Outright Rate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; INR-FBIL-MIBOR - Financial Benchmarks India Overnight Mumbai Interbank Outright Rate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; INR-FBIL-MIBOR - Financial Benchmarks India Overnight Mumbai Interbank Outright Rate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; INR-FBIL-MIBOR - Financial Benchmarks India Overnight Mumbai Interbank Outright Rate |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; JPY-TONA-OIS - Tokyo Overnight Average Rate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; JPY-TONA-OIS - Tokyo Overnight Average Rate |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MXN-TIIE-Banxico - Mexico 28 Day Interbank Equilibrium Interest Rate (TIIE) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MXN-TIIE-Banxico - Mexico 28 Day Interbank Equilibrium Interest Rate (TIIE) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MXN-TIIE-Banxico - Mexico 28 Day Interbank Equilibrium Interest Rate (TIIE) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; MXN-TIIE-Banxico - Mexico 28 Day Interbank Equilibrium Interest Rate (TIIE) |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NOK-NIBOR - Norway Interbank Offered Rate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NOK-NIBOR - Norway Interbank Offered Rate |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NZD-BBR-FRA - New Zealand Official Cash Rate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; NZD-BBR-FRA - New Zealand Official Cash Rate |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PLN-WIBOR-WIBO - Offered rate for deposits in Polish Zloty | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PLN-WIBOR-WIBO - Offered rate for deposits in Polish Zloty | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; PLN-WIBOR-WIBO - Offered rate for deposits in Polish Zloty |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SEK-STIBOR - Swedbank Stockholm Interbank Offered Rate Offered Rate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SEK-STIBOR - Swedbank Stockholm Interbank Offered Rate Offered Rate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SEK-STIBOR - Swedbank Stockholm Interbank Offered Rate Offered Rate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SEK-STIBOR - Swedbank Stockholm Interbank Offered Rate Offered Rate |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SGD-SORA - Singapore Overnight Rate Average | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SGD-SORA - Singapore Overnight Rate Average |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; THB-THOR - Thai Baht Thai Overnight Repurchase Rate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; THB-THOR - Thai Baht Thai Overnight Repurchase Rate |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TWD-TAIBOR - Taipei Interbank Offered Rate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TWD-TAIBOR - Taipei Interbank Offered Rate |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USD-LIBOR-BBA - U.S. Dollar - London Inter-Bank Offered Rate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USD-LIBOR-BBA - U.S. Dollar - London Inter-Bank Offered Rate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USD-LIBOR-BBA - U.S. Dollar - London Inter-Bank Offered Rate |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ZAR-JIBAR-SAFEX - Johannesburg Interbank Average Rate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ZAR-JIBAR-SAFEX - Johannesburg Interbank Average Rate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ZAR-JIBAR-SAFEX - Johannesburg Interbank Average Rate |  |  |  |  |  |  |  |
| **Fulcrum Diversified Absolute Return Fund** | **Fulcrum Diversified Absolute Return Fund** | **Fulcrum Diversified Absolute Return Fund** |  |  |  |  |  |  |  |
| Consolidated Schedule of Investments (Unaudited) | Consolidated Schedule of Investments (Unaudited) | Consolidated Schedule of Investments (Unaudited) |  |  |  |  |  |  |  |
| September 30, 2022 | September 30, 2022 |  |  |  |  |  |  |  |  |
| **INFLATION SWAPS \*** |  |  |  |  |  |  |  |  |  |
| **Rate paid** | **Rate received <sup>1</sup>** | **Payment<br> Frequency** | **Effective Date** | **Termination<br> Date** | **Notional<br> Amount** |  | **Value** | **Premium Paid (Received)** | **Unrealized<br> Gain/(Loss)** |
| 4.143% | EUR-EXT-CPI | At maturity | 7/15/2022 | 7/15/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8725700 | EUR | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5283) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27511 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(32794) |
| 3.105% | EUR-EXT-CPI | At maturity | 8/15/2022 | 8/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;631911 | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (11402) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (179) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (11223) |
| 2.619% | EUR-EXT-CPI | At maturity | 8/15/2022 | 8/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5712600 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; (102394) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (9109) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (93285) |
| 4.675% | UK-RPI | At maturity | 9/15/2022 | 9/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3244500 | GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 56600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 42379 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14221 |
| 2.945% | USA-CPI-U | At maturity | 9/23/2022 | 9/23/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3803200 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (33195) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (33195) |
| 3.300% | USA-CPI-U | At maturity | 7/15/2022 | 7/15/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9247700 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (6591) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6591) |
| 3.489% | USA-CPI-U | At maturity | 1/14/2022 | 1/14/2024 | &nbsp;&nbsp;&nbsp;&nbsp; 10352125 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 267365 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 22118 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 245247 |
| 4.070% | USA-CPI-U | At maturity | 5/13/2022 | 5/13/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6934560 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (32847) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 249 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (33096) |
| 4.190% | USA-CPI-U | At maturity | 6/22/2022 | 6/22/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1360600 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (18135) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (18135) |
| 4.205% | USA-CPI-U | At maturity | 6/22/2022 | 6/22/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1133800 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (15441) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (15441) |
| 4.283% | USA-CPI-U | At maturity | 6/22/2022 | 6/22/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7551200 | USD | &nbsp;&nbsp;&nbsp;&nbsp; (114302) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(114302) |
| 4.350% | USA-CPI-U | At maturity | 4/5/2022 | 4/5/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5748200 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (13645) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (572) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (13073) |
| 4.413% | USA-CPI-U | At maturity | 4/14/2022 | 4/14/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2373600 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (12007) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (12007) |
| 4.440% | USA-CPI-U | At maturity | 5/6/2022 | 5/6/2024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6826900 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (67293) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (7203) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (60090) |
| 2.943% | USA-CPI-U | At maturity | 9/2/2022 | 9/2/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6201455 | USD | &nbsp;&nbsp;&nbsp;&nbsp; (154398) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (23597) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(130801) |
| USA-CPI-U | 2.766% | At maturity | 9/2/2022 | 9/2/2032 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6206568 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 221752 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25959 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 195793 |
| **Total of Inflation Swaps** |  |  |  |  |  |  | $**&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(41216)** | $**&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77556** | $**&nbsp;&nbsp;&nbsp;&nbsp;(118772)** |
| **CREDIT DEFAULT SWAPS \*** | **CREDIT DEFAULT SWAPS \*** |  |  |  |  |  |  |  |  |
| **Reference Entity** |  | **Buy/Sell Protection** | **Rate Paid/<br> (Received) by the Fund** | **Termination<br> Date** | **Notional<br> Amount** |  | **Value** | **Premium Paid (Received)** | **Unrealized<br> Gain/(Loss)** |
| Markit iTraxx Europe Index |  | Buy | 1.00% | 12/20/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | EUR | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(904) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3838 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4742) |
| Markit iTraxx Europe Crossover Index | Markit iTraxx Europe Crossover Index | Buy | 5.00% | 12/20/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5044 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3234 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1810 |
| Markit CDX North America Investment Grade Index | Markit CDX North America Investment Grade Index | Buy | 1.00% | 12/20/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;900000 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2959 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1371) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4330 |
| **Total of Credit Default Swaps - Buy Protection** | **Total of Credit Default Swaps - Buy Protection** |  |  |  |  |  | $**&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7099** | $**&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5701** | $**&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1398** |
| **Reference Entity** |  | **Buy/Sell Protection** | **Rate Paid/<br> (Received) by the Fund** | **Termination<br> Date** | **Notional<br> Amount** |  | **Value** | **Premium Paid (Received)** | **Unrealized<br> Gain/(Loss)** |
| Markit CDX North America High Yield Index | Markit CDX North America High Yield Index | Sell | 5.00% | 12/20/2027 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2413000 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (95497) | &nbsp;&nbsp;&nbsp;&nbsp; (105644) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10147 |
| **Total of Credit Default Swaps - Sell Protection** | **Total of Credit Default Swaps - Sell Protection** |  |  |  |  |  | $**&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(95497)** | $**&nbsp;&nbsp;&nbsp;&nbsp;(105644)** | $**&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10147** |
| \* Counterparty is J.P. Morgan Investment Bank | \* Counterparty is J.P. Morgan Investment Bank |  |  |  |  |  |  |  |  |
| <sup>1</sup> Floating rate definitions |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EUR EXT CPI - European Consumer Price Index ex Tobacco | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EUR EXT CPI - European Consumer Price Index ex Tobacco | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EUR EXT CPI - European Consumer Price Index ex Tobacco |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USA-CPI-U - U.S. Consumer Price Index for Urban Consumers | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USA-CPI-U - U.S. Consumer Price Index for Urban Consumers | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; USA-CPI-U - U.S. Consumer Price Index for Urban Consumers |  |  |  |  |  |  |  |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; AUD - Australian Dollar | HKD - Hong Kong Dollar | PHP - Philippine Peso |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BRL - Brazilian Real | HUF - Hungarian Forint | PLN - Polish Zloty |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CAD - Canadian Dollar | IDR - Indonesian Rupiah | SEK - Swedish Krona |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CHF - Swiss Franc | ILS - Israeli New Shekel | SGD - Singapore Dollar |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CLP - Chilean Peso | INR - Indian Rupee | THB - Thai Baht |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CNH/CNY - Chinese Yuan Renminbi | JPY - Japanese Yen | TWD - Taiwan Dollar |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CZK - Czech Koruna | KRW - South-Korean Won | USD - US Dollar |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DKK - Danish Krone | MXN - Mexican Peso | ZAR - South African Rand |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EUR - Euro | NOK - Norwegian Kroner |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GBP - British Pound | NZD - New Zealand Dollar |  |

---

------

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Fulcrum Diversified Absolute Return Fund** | **Fulcrum Diversified Absolute Return Fund** | **Fulcrum Diversified Absolute Return Fund** | **Fulcrum Diversified Absolute Return Fund** |  |  |  |  |  |
| Consolidated Schedule of Investments (Unaudited) | Consolidated Schedule of Investments (Unaudited) | Consolidated Schedule of Investments (Unaudited) | Consolidated Schedule of Investments (Unaudited) |  |  |  |  |  |
| September 30, 2022 | September 30, 2022 |  |  |  |  |  |  |  |
|  | **TOTAL RETURN SWAPS \*** |  |  |  |  |  |  |  |
|  | **Reference<br> Entity** | **Counter-<br> party <sup>a</sup>** | **Rate Paid/Received <sup>b</sup>** | **Payment Frequency** | **Termination Date** | **Notional<br> Amount** |  | **Unrealized<br> Gain/(Loss)** |
| <sup>1</sup> | BCIIACTM Index | B | SOFR 1D + 0.26% (3.220%) | monthly | 07/21/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1445240) | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 151558 |
| <sup>2</sup> | BCIIAEST Index | B | SOFR 1D + 0.34% (3.300%) | monthly | 06/29/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 916023 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(52411) |
| <sup>3</sup> | BCIICOPP Index | B | SOFR 1D - 0.38% (2.580%) | monthly | 06/27/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (643807) | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 60840 |
| <sup>4</sup> | BCIIDISC Index | B | SOFR 1D - 0.37% (2.590%) | monthly | 10/19/2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (715847) | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 41836 |
| <sup>5</sup> | BCIIFMAT Index | B | SOFR 1D - 0.35% (2.610%) | monthly | 03/21/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (86664) | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7343 |
| <sup>6</sup> | BCIIINDU Index | B | SOFR 1D - 0.28% (2.680%) | monthly | 03/21/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1368719) | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 89630 |
| <sup>7</sup> | BCIIMAKE Index | B | SOFR 1D - 0.56% (2.400%) | monthly | 01/13/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (449802) | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 37137 |
| <sup>8</sup> | BCIIFFOD Index | B | SOFR 1D - 0.30% (2.660%) | monthly | 08/14/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1387679) | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 40385 |
| <sup>9</sup> | CGFCECO2 Index | CITI | SOFR 1D - 0.41% (0.340%) | monthly | 03/03/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (529101) | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 113870 |
| <sup>10</sup> | CGFCINDU Index | CITI | SOFR 1D + 0.40% (0.350%) | monthly | 03/08/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (128200) | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14782 |
| <sup>11</sup> | CGFCREIT Index | CITI | EURIBOR 1M - 0.15% (0.436%) | monthly | 02/09/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (638813) | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 105501 |
| <sup>12</sup> | CGFCITDS Index | CITI | SOFR 1D - 0.35% (1.930%) | monthly | 12/02/2022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (935673) | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 98643 |
| <sup>13</sup> | CGFCTRUK Index | CITI | SOFR 1D - 0.40% (0.350%) | monthly | 02/28/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (955797) | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 102677 |
| <sup>14</sup> | CGNAECOM Index | CITI | USD OBFR 1D - 4.05% (-2.730%) | monthly | 03/10/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (10427) | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6 |
|  | Corteva Inc | JPM | USD OBFR + 0.30% (3.370%) | monthly | 06/07/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 296 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (11) |
|  | Cosan SA | MS | BRL CDI + 1.50% (15.150%) | monthly | 09/20/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 745963 | BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (4312) |
|  | Ecolab Inc. | JPM | USD OBFR + 0.30% (3.370%) | monthly | 06/07/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 152 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (7) |
|  | FMC Corp | JPM | USD OBFR + 0.30% (3.370%) | monthly | 06/07/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 106 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - |
| <sup>15</sup> | GSCBFLPM Index | GS | SOFR 1D - 0.30% (2.660%) | monthly | 05/16/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1056432) | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 83864 |
| <sup>16</sup> | GSGLFEXC Index | GS | USD LIBOR 1M + 0.51% (3.470%) | monthly | 08/27/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 488009 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(27847) |
| <sup>17</sup> | GSGLFMIN Index | GS | SOFR 1D + 0.51% (3.470%) | monthly | 06/26/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 267387 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3889) |
| <sup>18</sup> | GSGLFPAY Index | GS | SOFR 1D + 0.40% (3.360%) | monthly | 08/07/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1535119 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(99065) |
| <sup>19</sup> | GSGLPHRE Index | GS | SOFR 1D - 0.35% (2.610%) | monthly | 09/11/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1860376) | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 126205 |
| <sup>20</sup> | GSGLPLAS Index | GS | SOFR 1D - 0.90% (2.060%) | monthly | 08/14/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (243518) | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9607 |
| <sup>21</sup> | GSMBATDM Index | GS | SOFR 1D + 0.51% (3.470%) | monthly | 09/24/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1464952 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (107260) |
| <sup>22</sup> | GSMBEDIS Index | GS | EUR ESTRON - 0.40% (0.261%) | monthly | 04/03/2025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1117431) | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 75455 |
|  | IDEXX Laboratories Inc. | JPM | USD OBFR + 0.30% (3.370%) | monthly | 06/07/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 667 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (17) |
| <sup>23</sup> | JPFCITSV Index | JPM | USD OBFR - 0.30% (1.270%) | monthly | 09/12/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1853047) | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 82471 |
| <sup>24</sup> | JPFCUOIL Index | JPM | USD OBFR + 0.45% (3.520%) | monthly | 04/12/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 252106 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(14114) |
| <sup>25</sup> | JPFUAIR Index | JPM | USD OBFR - 1.05% (0.520%) | monthly | 10/10/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1311693) | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 96530 |
| <sup>26</sup> | JPFUMEBK Index | JPM | HKD HIBOR - 0.45% (0.421%) | monthly | 08/29/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 955497 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(22777) |
| <sup>27</sup> | JPFUHRDW Index | JPM | USD OBFR - 1.20% (-1.130%) | monthly | 07/26/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (452218) | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 33910 |
| <sup>28</sup> | JPFUMEDA Index | JPM | USD OBFR + 0.40% (3.470%) | monthly | 08/29/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 564319 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(18442) |
| <sup>29</sup> | JPFUOMED Index | JPM | USD OBFR - 0.50% (1.070%) | monthly | 08/29/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (840271) | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 75109 |
| <sup>30</sup> | JPFUREGU Index | JPM | USD OBFR - 0.35% (1.220%) | monthly | 11/01/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (873761) | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (480) |
| <sup>31</sup> | JPFURU1 Index | JPM | USD OBFR + 0.30% (3.370%) | monthly | 03/30/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1) |
| <sup>32</sup> | JPFUSHP2 Index | JPM | USD OBFR - 1.20% (0.370%) | monthly | 06/21/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (253770) | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12925 |
| <sup>33</sup> | JPFUTRVL Index | JPM | USD OBFR + 0.35% (3.420%) | monthly | 03/20/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1119695 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(76676) |
| <sup>34</sup> | JPTAOBRL Index | JPM | BRL CDI - 2.232% (10.918%) | monthly | 10/25/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (449058) | BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1838 |
|  | Klabin SA | MS | BRL CDI + 0.00% (13.650%) | monthly | 09/20/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (65708) | BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19 |
|  | Mosaic Co./The | JPM | USD OBFR - 0.20% (1.370%) | monthly | 06/07/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(321) | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32 |
| <sup>35</sup> | MSFDRUS Index | MS | N/A | monthly | 07/03/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 37755999 | USD | &nbsp;&nbsp;&nbsp;&nbsp; (1274399) |
|  | Nutrien Ltd. | JPM | USD OBFR - 0.20% (1.370%) | monthly | 06/07/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(355) | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20 |
|  | Pet Center Comercio e Participacoes SA | MS | BRL CDI + 1.50% (15.150%) | monthly | 09/20/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 236723 | BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 738 |
|  | Raízen | MS | BRL CDI + 1.50% (15.150%) | monthly | 09/20/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 154541 | BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (138) |
| <sup>36</sup> | S5UTIL | JPM | USD OBFR - 0.35% (1.220%) | monthly | 09/13/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1061624 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (108136) |
|  | Sao Martinho SA | MS | BRL CDI + 1.50% (15.150%) | monthly | 09/20/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 148812 | BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1963) |
|  | SLC Agrícola | MS | BRL CDI + 1.50% (15.150%) | monthly | 09/20/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 32361 | BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (466) |
|  | Sociedad Química y Minera de Chile SA | JPM | USD OBFR - 0.20% (1.370%) | monthly | 06/07/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(104) | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11 |
|  | Suzano SA | MS | BRL CDI + 0.00% (13.650%) | monthly | 09/20/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (96323) | BRL | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13 |
| <sup>37</sup> | SX86P | JPM | EUR ESTRON + 0.35% (1.011%) | monthly | 10/30/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17208 | EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 314 |
|  | Zoetis Inc. | JPM | USD OBFR + 0.30% (3.370%) | monthly | 06/07/2023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 302 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (7) |
| **Total of Total Return Swaps** | **Total of Total Return Swaps** |  |  |  |  |  |  | $**(349149)** |
| **Fulcrum Diversified Absolute Return Fund** | **Fulcrum Diversified Absolute Return Fund** | **Fulcrum Diversified Absolute Return Fund** | **Fulcrum Diversified Absolute Return Fund** |  |  |  |  |  |
| Consolidated Schedule of Investments | Consolidated Schedule of Investments | Consolidated Schedule of Investments |  |  |  |  |  |  |
| September 30, 2022 | September 30, 2022 |  |  |  |  |  |  |  |
| **<sup>a</sup>** | Counterparty abbreviations |  | <sup>b</sup> Floating rate definitions |  |  |  |  |  |
|  | B - Barclays |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BRL CDI - Brazil Average One-Day Interbank Deposit | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BRL CDI - Brazil Average One-Day Interbank Deposit | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; BRL CDI - Brazil Average One-Day Interbank Deposit |  |  |  |
|  | CITI - Citigroup Global Markets |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ESTRON - Euro Short-term Rate Overnight | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ESTRON - Euro Short-term Rate Overnight |  |  |  |  |
|  | GS - Goldman Sachs |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EURIBOR - Euro Interbank Offered Rate. The Euribor rates are based on the interest | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EURIBOR - Euro Interbank Offered Rate. The Euribor rates are based on the interest | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EURIBOR - Euro Interbank Offered Rate. The Euribor rates are based on the interest | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EURIBOR - Euro Interbank Offered Rate. The Euribor rates are based on the interest |  |  |
|  | JPM - J.P. Morgan Investment Bank |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; rates at which a panel of European banks borrow funds from one another. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; rates at which a panel of European banks borrow funds from one another. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; rates at which a panel of European banks borrow funds from one another. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; rates at which a panel of European banks borrow funds from one another. |  |  |
|  | MS - Morgan Stanley |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; HIBOR - Hong Kong Inter-Bank Offered Rate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; HIBOR - Hong Kong Inter-Bank Offered Rate |  |  |  |  |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LIBOR - London Interbank Offered Rate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; LIBOR - London Interbank Offered Rate |  |  |  |  |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; OBFR - Overnight Bank Funding Rate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; OBFR - Overnight Bank Funding Rate |  |  |  |  |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SOFR - Secured Overnight Financing Rate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SOFR - Secured Overnight Financing Rate |  |  |  |  |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TONA - Tokyo Overnight Average Rage | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TONA - Tokyo Overnight Average Rage |  |  |  |  |
| <sup>\*</sup> | No Upfront premiums paid on the Total Return Swaps. | No Upfront premiums paid on the Total Return Swaps. | No Upfront premiums paid on the Total Return Swaps. |  |  |  |  |  |
| <sup>1</sup> | BCIIACTM is a custom basket of investment management company stocks. | BCIIACTM is a custom basket of investment management company stocks. | BCIIACTM is a custom basket of investment management company stocks. |  |  |  |  |  |
| <sup>2</sup> | BCIIAEST is a custom basket of cosmetics company stocks. | BCIIAEST is a custom basket of cosmetics company stocks. | BCIIAEST is a custom basket of cosmetics company stocks. |  |  |  |  |  |
| <sup>3</sup> | BCIICOPP is a custom basket of copper mining company stocks. | BCIICOPP is a custom basket of copper mining company stocks. | BCIICOPP is a custom basket of copper mining company stocks. |  |  |  |  |  |
| <sup>4</sup> | BCIIDISC is a custom basket of American company stocks. | BCIIDISC is a custom basket of American company stocks. | BCIIDISC is a custom basket of American company stocks. |  |  |  |  |  |
| <sup>5</sup> | BCIIFMAT is a custom basket of materials company stocks. | BCIIFMAT is a custom basket of materials company stocks. | BCIIFMAT is a custom basket of materials company stocks. |  |  |  |  |  |
| <sup>6</sup> | BCIIINDU is a custom basket of multinational industrial company stocks. | BCIIINDU is a custom basket of multinational industrial company stocks. | BCIIINDU is a custom basket of multinational industrial company stocks. |  |  |  |  |  |
| <sup>7</sup> | BCIIMAKE is a custom basket of cosmetics company stocks. | BCIIMAKE is a custom basket of cosmetics company stocks. | BCIIMAKE is a custom basket of cosmetics company stocks. |  |  |  |  |  |
| <sup>8</sup> | BCIIFFOD is a custom basket of food company stocks. | BCIIFFOD is a custom basket of food company stocks. | BCIIFFOD is a custom basket of food company stocks. |  |  |  |  |  |
| <sup>9</sup> | CGFCECO2 is a custom basket of e-commerce company stocks. | CGFCECO2 is a custom basket of e-commerce company stocks. | CGFCECO2 is a custom basket of e-commerce company stocks. |  |  |  |  |  |
| <sup>10</sup> | CGFCINDU is a custom basket of industrial company stocks. | CGFCINDU is a custom basket of industrial company stocks. | CGFCINDU is a custom basket of industrial company stocks. |  |  |  |  |  |
| <sup>11</sup> | CGFCREIT is a custom basket of real estate investment trust stocks. | CGFCREIT is a custom basket of real estate investment trust stocks. | CGFCREIT is a custom basket of real estate investment trust stocks. |  |  |  |  |  |
| <sup>12</sup> | CGFCITDS is a custom basket of IT consulting company stocks. | CGFCITDS is a custom basket of IT consulting company stocks. | CGFCITDS is a custom basket of IT consulting company stocks. |  |  |  |  |  |
| <sup>13</sup> | CGFCTRUK is a custom basket of transportation and logistics company stocks. | CGFCTRUK is a custom basket of transportation and logistics company stocks. | CGFCTRUK is a custom basket of transportation and logistics company stocks. |  |  |  |  |  |
| <sup>14</sup> | CGNAECOM - Ozon Holdings PLC |  |  |  |  |  |  |  |
| <sup>15</sup> | GSCBFLPM is a custom basket of financial services company stocks. | GSCBFLPM is a custom basket of financial services company stocks. | GSCBFLPM is a custom basket of financial services company stocks. |  |  |  |  |  |
| <sup>16</sup> | GSGLFEXC is a custom basket of investment management company stocks. | GSGLFEXC is a custom basket of investment management company stocks. | GSGLFEXC is a custom basket of investment management company stocks. |  |  |  |  |  |
| <sup>17</sup> | GSGLFMIN is a custom basket of mining company stocks. | GSGLFMIN is a custom basket of mining company stocks. | GSGLFMIN is a custom basket of mining company stocks. |  |  |  |  |  |
| <sup>18</sup> | GSGLFPAY is a custom basket of financial services company stocks. | GSGLFPAY is a custom basket of financial services company stocks. | GSGLFPAY is a custom basket of financial services company stocks. |  |  |  |  |  |
| <sup>19</sup> | GSGLPHRE is a custom basket of retail company stocks. The components of the basket as of September 30, 2022 are shown on the following pages. | GSGLPHRE is a custom basket of retail company stocks. The components of the basket as of September 30, 2022 are shown on the following pages. | GSGLPHRE is a custom basket of retail company stocks. The components of the basket as of September 30, 2022 are shown on the following pages. | GSGLPHRE is a custom basket of retail company stocks. The components of the basket as of September 30, 2022 are shown on the following pages. | GSGLPHRE is a custom basket of retail company stocks. The components of the basket as of September 30, 2022 are shown on the following pages. | GSGLPHRE is a custom basket of retail company stocks. The components of the basket as of September 30, 2022 are shown on the following pages. |  |  |
| <sup>20</sup> | GSGLPLAS is a custom basket of plastics company stocks. | GSGLPLAS is a custom basket of plastics company stocks. | GSGLPLAS is a custom basket of plastics company stocks. | GSGLPLAS is a custom basket of plastics company stocks. | GSGLPLAS is a custom basket of plastics company stocks. | GSGLPLAS is a custom basket of plastics company stocks. | GSGLPLAS is a custom basket of plastics company stocks. |  |
| <sup>21</sup> | GSMBATDM is a custom basket of retail company stocks. | GSMBATDM is a custom basket of retail company stocks. | GSMBATDM is a custom basket of retail company stocks. |  |  |  |  |  |
| <sup>22</sup> | GSMBEDIS is a custom basket of European company stocks. | GSMBEDIS is a custom basket of European company stocks. | GSMBEDIS is a custom basket of European company stocks. |  |  |  |  |  |
| <sup>23</sup> | JPFCITSV is a custom basket of information technology company stocks. The components of the basket as of September 30, 2022 are shown on the following pages. | JPFCITSV is a custom basket of information technology company stocks. The components of the basket as of September 30, 2022 are shown on the following pages. | JPFCITSV is a custom basket of information technology company stocks. The components of the basket as of September 30, 2022 are shown on the following pages. | JPFCITSV is a custom basket of information technology company stocks. The components of the basket as of September 30, 2022 are shown on the following pages. | JPFCITSV is a custom basket of information technology company stocks. The components of the basket as of September 30, 2022 are shown on the following pages. | JPFCITSV is a custom basket of information technology company stocks. The components of the basket as of September 30, 2022 are shown on the following pages. | JPFCITSV is a custom basket of information technology company stocks. The components of the basket as of September 30, 2022 are shown on the following pages. |  |
| <sup>24</sup> | JPFCUOIL is a custom basket of U.S. oil company stocks | JPFCUOIL is a custom basket of U.S. oil company stocks | JPFCUOIL is a custom basket of U.S. oil company stocks |  |  |  |  |  |
| <sup>25</sup> | JPFUAIR is a custom basket of airline company stocks. | JPFUAIR is a custom basket of airline company stocks. | JPFUAIR is a custom basket of airline company stocks. |  |  |  |  |  |
| <sup>26</sup> | JPFUMEBK is a custom basket of financial services company stocks. | JPFUMEBK is a custom basket of financial services company stocks. | JPFUMEBK is a custom basket of financial services company stocks. |  |  |  |  |  |
| <sup>27</sup> | JPFUHRDW is a custom basket of hardware company stocks. | JPFUHRDW is a custom basket of hardware company stocks. | JPFUHRDW is a custom basket of hardware company stocks. |  |  |  |  |  |
| <sup>28</sup> | JPFUMEDA is a custom basket of media company stocks. | JPFUMEDA is a custom basket of media company stocks. | JPFUMEDA is a custom basket of media company stocks. |  |  |  |  |  |
| <sup>29</sup> | JPFUOMED is a custom basket of media company stocks. | JPFUOMED is a custom basket of media company stocks. | JPFUOMED is a custom basket of media company stocks. |  |  |  |  |  |
| <sup>30</sup> | JPFUREGU is a custom basket of U.S. real estate company stocks. | JPFUREGU is a custom basket of U.S. real estate company stocks. | JPFUREGU is a custom basket of U.S. real estate company stocks. |  |  |  |  |  |
| <sup>31</sup> | JPFURU1 is a custom basket of Russian company stocks. | JPFURU1 is a custom basket of Russian company stocks. | JPFURU1 is a custom basket of Russian company stocks. |  |  |  |  |  |
| <sup>32</sup> | JPFUSHP2 is a custom basket of containership company stocks. | JPFUSHP2 is a custom basket of containership company stocks. | JPFUSHP2 is a custom basket of containership company stocks. |  |  |  |  |  |
| <sup>33</sup> | JPFUTRVL is a custom basket of travel company stocks. | JPFUTRVL is a custom basket of travel company stocks. | JPFUTRVL is a custom basket of travel company stocks. |  |  |  |  |  |
| <sup>34</sup> | JPTAOBRL is a custom basket of Brazilian stocks. | JPTAOBRL is a custom basket of Brazilian stocks. |  |  |  |  |  |  |
| <sup>35</sup> | MSFDRUS - The components of the basket as of September 30, 2022 are shown on the following pages. | MSFDRUS - The components of the basket as of September 30, 2022 are shown on the following pages. | MSFDRUS - The components of the basket as of September 30, 2022 are shown on the following pages. | MSFDRUS - The components of the basket as of September 30, 2022 are shown on the following pages. |  |  |  |  |
| <sup>36</sup> | S5UTIL - S&P 500 Utilities Index |  |  |  |  |  |  |  |
| <sup>37</sup> | SX86P - STOXX Europe 600 Real Estate Index. | SX86P - STOXX Europe 600 Real Estate Index. |  |  |  |  |  |  |

---

------

---

| | | | |
|:---|:---|:---|:---|
| **Fulcrum Diversified Absolute Return Fund** |  |  |  |
| Consolidated Schedule of Investments (Unaudited) |  |  |  |
| September 30, 2022 |  |  |  |
| **GSGLPHRE Index** |  |  |  |
| **Name** | **Quantity** | **Value** | **Weight** |
| H & M Hennes & Mauritz AB | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 229438 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2136228 | 5.470% |
| Shimamura Co Ltd | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21998 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1859007 | 4.760% |
| Fast Retailing Co Ltd | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3260 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1727989 | 4.420% |
| Associated British Foods PLC | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 118910 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1669508 | 4.270% |
| Urban Outfitters Inc | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82582 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1622736 | 4.150% |
| Kingfisher PLC | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 620850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1522945 | 3.900% |
| Next PLC | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27465 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1467548 | 3.760% |
| Gap Inc/The | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 170310 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1398245 | 3.580% |
| Dillard's Inc | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4809 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1311703 | 3.360% |
| Carter's Inc | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19559 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1281701 | 3.280% |
| Foot Locker Inc | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38754 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1206412 | 3.090% |
| Kontoor Brands Inc | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34568 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1161830 | 2.970% |
| Zalando SE | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56514 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1119265 | 2.860% |
| ABC-Mart Inc | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25239 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1086504 | 2.780% |
| Poshmark Inc | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68364 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1071264 | 2.740% |
| Hanesbrands Inc | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 151842 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1056820 | 2.700% |
| Burlington Stores Inc | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9381 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1049640 | 2.690% |
| Industria de Diseno Textil SA | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48479 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1009968 | 2.580% |
| Kinnevik AB | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75641 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1004747 | 2.570% |
| Macy's Inc | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59906 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 938727 | 2.400% |
| Guess? Inc | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57553 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 844303 | 2.160% |
| Victoria's Secret & Co | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28983 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 843985 | 2.160% |
| boohoo Group PLC | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1907790 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 773990 | 1.980% |
| ASOS PLC | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 121564 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 769841 | 1.970% |
| American Eagle Outfitters Inc | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74813 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 727931 | 1.860% |
| Ryohin Keikaku Co Ltd | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84413 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 705195 | 1.800% |
| VF Corp | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23343 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 698189 | 1.790% |
| Newell Brands Inc | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48638 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 675582 | 1.730% |
| Marks & Spencer Group PLC | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 592336 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 650563 | 1.660% |
| Abercrombie & Fitch Co | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41314 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 642433 | 1.640% |
| Bath & Body Works Inc | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19593 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 638732 | 1.630% |
| Salvatore Ferragamo SpA | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44149 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 624987 | 1.600% |
| Wolverine World Wide Inc | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36759 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 565721 | 1.450% |
| Buckle Inc/The | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16537 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 523561 | 1.340% |
| Sally Beauty Holdings Inc | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32387 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 408076 | 1.040% |
| G-III Apparel Group Ltd | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25555 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 382047 | 0.980% |
| Chico's FAS Inc | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78731 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 381058 | 0.980% |
| Revolve Group Inc | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17557 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 380811 | 0.970% |
| Nordstrom Inc | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19523 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 326620 | 0.840% |
| Fnac Darty SA | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11119 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 309147 | 0.790% |
| Oxford Industries Inc | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3020 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 271136 | 0.690% |
| Bed Bath & Beyond Inc | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39303 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 239355 | 0.610% |
|  |  | $**&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39086050** | **100.00%** |
| **Fulcrum Diversified Absolute Return Fund** |  |  |  |
| Consolidated Schedule of Investments |  |  |  |
| September 30, 2022 |  |  |  |
| **JPFCITSV Index** |  |  |  |
| **Name** | **Quantity** | **Value** | **Weight** |
| International Business Machines Corp | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16939 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2012537 | 18.96% |
| Hewlett Packard Enterprise Co | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85138 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1019950 | 9.61% |
| VMware Inc | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7391 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 786825 | 7.41% |
| Citrix Systems Inc | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6553 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 680869 | 6.42% |
| Trend Micro Inc/Japan | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11844 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 640000 | 6.03% |
| DXC Technology Co | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22903 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 560669 | 5.28% |
| SAP SE | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6508 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 535954 | 5.05% |
| TietoEVRY Oyj | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20945 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 476953 | 4.49% |
| TD SYNNEX Corp | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5808 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 471555 | 4.44% |
| Conduent Inc | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 132311 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 441919 | 4.16% |
| Oracle Corp | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5645 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 344711 | 3.25% |
| Indra Sistemas SA | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42344 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 325624 | 3.07% |
| Fujitsu Ltd | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2561 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 279286 | 2.63% |
| Fastly Inc | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29445 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 269718 | 2.54% |
| Atos SE | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33728 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 269437 | 2.54% |
| Ping Identity Holding Corp | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 253278 | 2.39% |
| Software AG | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10287 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 236865 | 2.23% |
| TeamViewer AG | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28923 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 226528 | 2.13% |
| CANCOM SE | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8142 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 194163 | 1.83% |
| Opendoor Technologies Inc | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54010 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 167970 | 1.58% |
| NetScout Systems Inc | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4982 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 156024 | 1.47% |
| Sopra Steria Group SACA | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 788 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 100633 | 0.95% |
| NetApp Inc | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1131 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 69979 | 0.66% |
| SecureWorks Corp | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7382 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 59423 | 0.56% |
| Solutions 30 SE | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16599 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 34371 | 0.32% |
|  |  | $**&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10615241** | **100.00%** |
| **MSFDRUS Index** |  |  |  |
| **Name** | **Quantity** | **Value** | **Weight** |
| USD Cash | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 30623326 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30623326 | 83.88% |
| EUR CASH | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1636859) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1603506) | (4.39%) |
| NOK Cash | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (9284875) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (852034) | (2.33%) |
| CNY Cash | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (5617966) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (792245) | (2.17%) |
| CAD Cash | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (936237) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (681345) | (1.87%) |
| Cdn Pac Rlway | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5849 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 390245 | 1.07% |
| Union Pacific Cp | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1773 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 345416 | 0.95% |
| SEK Cash | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3427507) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (308854) | (0.85%) |
| Republic Svcs | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2262 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 307722 | 0.84% |
| GBP Cash | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (263359) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (293993) | (0.80%) |
| Shell Plc-New | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11534 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 289706 | 0.79% |
| BP PLC | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59196 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 286795 | 0.79% |
| Cheniere Energy | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1695 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 281217 | 0.77% |
| Darling Ingredients Inc | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3908 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 258514 | 0.71% |
| AUD Cash | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (389283) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (250295) | (0.69%) |
| Waste Management | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1519 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 243359 | 0.67% |
| HKD Cash | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1881886) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (239734) | (0.66%) |
| Waste Connections Inc | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1753 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 238118 | 0.65% |
| JPY Cash | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 34408143 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 237716 | 0.65% |
| Cdn Natl Rr | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2129 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 229911 | 0.63% |
| Totalenergies Se | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4821 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 228015 | 0.62% |
| CSX Corp | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8530 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 227239 | 0.62% |
| Vonovia SE | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10132 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 220446 | 0.60% |
| Norfolk Southern | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1022 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 214262 | 0.59% |
| Nextera Energy Inc | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2697 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 211472 | 0.58% |
| **Fulcrum Diversified Absolute Return Fund** |  |  |  |
| Consolidated Schedule of Investments |  |  |  |
| September 30, 2022 |  |  |  |
| **MSFDRUS Index** |  |  |  |
| **Name** | **Quantity** | **Value** | **Weight** |
| Public Storage | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 662 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;193840 | 0.53% |
| Clean Harbors | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1600 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 175968 | 0.48% |
| Archer-Daniels | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1990 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 160096 | 0.44% |
| Extra Space Strg | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 868 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 149912 | 0.41% |
| Gfl Environmental Inc-Sub Vt | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5809 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 146910 | 0.40% |
| Cf Industries Holdings | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1485 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 142931 | 0.39% |
| Nutrien Ltd | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1597 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 133158 | 0.36% |
| Bakkafrost | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3165 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 125702 | 0.34% |
| Veolia Environnement Ords | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6485 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 125215 | 0.34% |
| Algonquin Pwr & Utils Corp | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10475 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 115034 | 0.32% |
| Life Storage Inc | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1024 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 113418 | 0.31% |
| Corteva Inc | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1937 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 110700 | 0.30% |
| Invitation Homes | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3263 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 110192 | 0.30% |
| American Homes 4 Rent | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3289 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 107912 | 0.30% |
| Leg Immobilien SE | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1795 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 107896 | 0.30% |
| Cubesmart | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2687 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 107641 | 0.30% |
| Woodside Energy Group Ltd | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5136 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 104549 | 0.29% |
| Nibe Industrier B | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11513 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 103848 | 0.28% |
| Klepierre | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (5908) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (103598) | (0.28%) |
| Bayer AG | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2175 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 101037 | 0.28% |
| Zoetis Inc | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 679 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 100689 | 0.28% |
| Eni SPA | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9417 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 100645 | 0.28% |
| Bunge Ltd | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1215 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 100323 | 0.27% |
| Dt Euroshop NA | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (4185) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(94786) | (0.26%) |
| Equinor ASA | &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2881 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 94674 | 0.26% |
| Other Underlying Index Components \* |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4064585 | 11.13% |
|  |  | $**&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;36509964** | **100.00%** |
| \* Largest 50 underlying components by market value at September 30, 2022 are listed. | \* Largest 50 underlying components by market value at September 30, 2022 are listed. |  |  |

---

------

### Fulcrum Diversified Absolute Return Fund

### Consolidated Schedule of Investments (Unaudited) (continued)

### September 30, 2022

#### Consolidation of Subsidiary:
The Consolidated Schedule of Investments of Fulcrum Diversified Absolute Return Fund (the "Fund") includes the holdings of Fulcrum Diversified Absolute Return Cayman Fund Ltd. (the "Subsidiary"). The Subsidiary, a Cayman Islands Exempted Company, was incorporated on July 29, 2014, and is wholly-owned and controlled by the Fund. The Subsidiary invests primarily in commodity index swaps and other commodity-linked derivative instruments, and the Fund may invest up to 25% of its total assets in the Subsidiary. The Fund's policy is to consolidate entities when it is the sole or principal owner of such entity. All inter-fund balances and transactions have been eliminated in consolidation.

#### Valuation
The Fund follows a fair value hierarchy that distinguishes between market data obtained from independent sources (observable inputs) and the Fund's own market assumptions (unobservable inputs). The inputs or methodology used in determining the value of each Fund's investments are not necessarily an indication of the risk associated with investing in those securities.

Various inputs are used in determining the value of the Fund's investments. These inputs are summarized into three broad categories as defined below:

Level 1 - Quoted prices in active markets for identical securities. An active market for a security is a market in which transactions occur with sufficient frequency and volume to provide pricing information on an ongoing basis. A quoted price in an active market provides the most reliable evidence of fair value.

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 - Significant unobservable inputs, including the Fund's own assumptions in determining fair value of investments

Equity Securities that are traded on a national securities exchange are stated at the last reported sales price on the day of valuation. To the extent these securities are actively traded and valuation adjustments are not applied, they are categorized as Level 1 of the fair value hierarchy.

Debt securities including corporate, convertible, U.S. government agencies, U.S. treasury obligations, and sovereign issues are normally valued by pricing service providers that use broker dealer quotations or valuation estimates from their internal pricing models. The service providers' internal models use inputs that are observable such as issuer details, interest rates, yield curves, prepayment speeds, credit risk/spreads and default rates. Securities that use similar valuation techniques and inputs as described above are categorized as Level 2 of the fair value hierarchy.

Derivative instruments, such as foreign currency contracts, options contracts, futures, or swap agreements, derive their value from underlying asset prices, indices, reference rates, and other inputs or a combination of these factors. Exchange traded derivatives are normally valued at the daily settlement price or composite mean depending on the product type. When these valuations are used, the positions are classified as Level 1 in the fair value hierarchy. Over-the-counter derivatives are valued by an independent pricing service using a series of techniques, including simulation pricing models, The pricing models use various inputs that are observed from actively quoted markets such as issuer details, indices, spreads, interest rates, curves, implied volatility and exchange rates. When prices are determined by the pricing agent, positions are classified as Level 2 of the fair value hierarchy.

------

The following is a summary of the fair values of the Fund's consolidated investments in each category investment type as of September 30, 2022:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Description** | **Quoted Prices<br> Level 1** | **Other Significant<br> Observable Inputs<br> Level 2** | **Significant<br> Unobservable Inputs<br> Level 3** | **Total** |
| **Investments** | | | | |
| &nbsp;&nbsp;&nbsp; Common Stocks | $8569087 | $- | $- | $8569087 |
| &nbsp;&nbsp;&nbsp; Preferred Stocks | 1065 | - | - | 1065 |
| &nbsp;&nbsp;&nbsp; Right | 27 | - | - | 27 |
| &nbsp;&nbsp;&nbsp; Purchased Options | 1613350 | 3510965 | - | 5124315 |
| &nbsp;&nbsp;&nbsp; Short-Term Investments | - | 96440979 | - | 96440979 |
| &nbsp;&nbsp;&nbsp; **Total Investments** | $**10183529** | $**99951944** | $**-** | $**110135473** |
| **Description** | **Quoted Prices<br> Level 1** | **Other Significant<br> Observable Inputs<br> Level 2** | **Significant<br> Unobservable Inputs<br> Level 3** | **Total** |
| **Other Financial Instruments** |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Written Options | $(1969085) | $(499464) | $- | $(2468549) |
| &nbsp;&nbsp;&nbsp; Forward Currency Contracts \* | - | (120025) | - | (120025) |
| &nbsp;&nbsp;&nbsp; Future Contracts \* | (2650710) | - | - | (2650710) |
| &nbsp;&nbsp;&nbsp; Interest Rate Swaps \* | - | 124338 | - | 124338 |
| &nbsp;&nbsp;&nbsp; Inflation Swaps \* | - | (118772) | - | (118772) |
| &nbsp;&nbsp;&nbsp; Credit Default Swaps \* | - | 1398 | - | 1398 |
| &nbsp;&nbsp;&nbsp; Total Return Swaps \* | - | (349149) | - | (349149) |
| &nbsp;&nbsp;&nbsp; **Total Other Financial Instruments** | $**(4619795)** | $**(961674)** | $**-** | $**(5581469)** |

---

\* Forward Currency Contracts, Futures Contracts, Interest Rate Swaps, Inflation Swaps, Credit Default Swaps and Total Return Swaps are valued at the unrealized appreciation (depreciation) of the instrument.

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Trust for Advised Portfolios

- **b. Investment Company Act file number:** 811-21422

- **c. CIK number of Registrant:** 0001261788

- **d. LEI of Registrant:** 549300YZEFREMRTE2K87

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 615 East Michigan Street

  - **City:** Milwaukee

  - **State:** WI

  - **Foreign country:** US

  - **Zip / Postal Code:** 53202-5210

  - **Telephone number:** 4142873700

**Item A.2. Information about the Series.**

- **a. Name of Series:** Fulcrum Diversified Absolute Return Fund

- **b. EDGAR series identifier (if any):** S000050264

- **c. LEI of Series:** 549300PWNGQVPAFO9806

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2023-06-30

- **b. Date as of which information is reported:** 2022-09-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $168302724.89

**Total Liabilities:** $5506384.51

**Net Assets:** $162796340.38

**Amount of Assets Invested in Other Investment Companies:** $8067784.93

**Cash Not Reported:** $53864690.40

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** 3359.650000000000 | **1-Year:** 219.590000000000 | **5-Year:** -32.790000000000 | **10-Year:** 133.310000000000 | **30-Year:** 20.720000000000

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** 0.000000000000 | **1-Year:** -0.940000000000 | **5-Year:** -0.430000000000 | **10-Year:** -6.990000000000 | **30-Year:** -0.080000000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000158697 | 0.97%                | 0.43%                | -1.17%               |
| Class ID C000158698 | 0.98%                | 0.43%                | -1.18%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $8633.92                 | $475661.56                                 |
| Month 2  | $-73291.66               | $-285854.05                                |
| Month 3  | $-21545.44               | $-963427.62                                |

**Designated Index Information**

- **Index Name:** N/A

- **Index Identifier:** N/A

### Schedule of Portfolio Investments

| Name   | Title                                          | Identifiers            | Payoff Profile   | Asset Category   | Issuer Category   | Country   | Balance   | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   | Fair Value Level   | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| N/A    | USDCINRP DIGI 85 16/12/2022                    | CUSIP: N/A<br>LEI: N/A | N/A              | DFE              |  | US        | 438728    | NC      | $59690.70     | 0.04%             |  |  |  | No            | 2                  | On Loan: No      |
| N/A    | USDCJPYP 142.0 RKO 148.0 25/10/2022            | CUSIP: N/A<br>LEI: N/A | N/A              | DFE              |  | US        | 4396653   | NC      | $24506.94     | 0.02%             |  |  |  | No            | 2                  | On Loan: No      |
| N/A    | USDCNH 6.9730 AND USDBRL 4.9849 13 DEC 22      | CUSIP: N/A<br>LEI: N/A | N/A              | DCR              |  | US        | 356000    | NC      | $35626.70     | 0.02%             |  |  |  | No            | 2                  | On Loan: No      |
| N/A    | USDJPY 130.37 AND JYS010 0.716 30 SEP 22       | CUSIP: N/A<br>LEI: N/A | N/A              | DCR              |  | JP        | 52589000  | NC      | $0.00         | 0.00%             |  |  |  | No            | 3                  | On Loan: No      |
| N/A    | USDJPY 142.15 AND GBPUSD 1.1213 14 NOV 22      | CUSIP: N/A<br>LEI: N/A | N/A              | DCR              |  | US        | 499356    | NC      | $56828.71     | 0.03%             |  |  |  | No            | 2                  | On Loan: No      |
| N/A    | USDPBRLC 5.05 RKO 4.6 13/12/2022               | CUSIP: N/A<br>LEI: N/A | N/A              | DFE              |  | US        | 7962000   | NC      | $29570.87     | 0.02%             |  |  |  | No            | 2                  | On Loan: No      |
| N/A    | USDPJPYC DIGI 125 23/12/2022                   | CUSIP: N/A<br>LEI: N/A | N/A              | DFE              |  | US        | 285000    | NC      | $7196.54      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| N/A    | USDPJPYCDIGI133.0030/09/2022                   | CUSIP: N/A<br>LEI: N/A | N/A              | DFE              |  | US        | 474652    | NC      | $0.00         | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| N/A    | USDPJPYC DIGI 135 KI 142.50 30/09/2022         | CUSIP: N/A<br>LEI: N/A | N/A              | DFE              |  | US        | 332823    | NC      | $0.00         | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| N/A    | USD/ZAR FWD 20221031                           | CUSIP: N/A<br>LEI: N/A | N/A              | DFE              |  | US        | 1         | NC      | $-26600.01    | -0.02%            |  |  |  | No            | 2                  | On Loan: No      |
| N/A    | CBOE VIX FUTURE   Oct22                        | CUSIP: N/A<br>LEI: N/A | N/A              | DE               |  | US        | 58        | NC      | $88078.00     | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | CBOE VIX FUTURE   Nov22                        | CUSIP: N/A<br>LEI: N/A | N/A              | DE               |  | US        | 5         | NC      | $7798.50      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | EURO STOXX 50     Dec22                        | CUSIP: N/A<br>LEI: N/A | N/A              | DE               |  | DE        | 141       | NC      | $-248427.04   | -0.15%            |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | CBOE VOL CLL OPT 10/22 30                      | CUSIP: N/A<br>LEI: N/A | N/A              | DE               |  | US        | -310      | NC      | $-116250.00   | -0.07%            |  |  |  | No            | 2                  | On Loan: No      |
| N/A    | MSCI World Index  Dec22                        | CUSIP: N/A<br>LEI: N/A | N/A              | DE               |  | DE        | 17        | NC      | $-162010.00   | -0.10%            |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | CBOE VOL CLL OPT 10/22 32.500                  | CUSIP: N/A<br>LEI: N/A | N/A              | DE               |  | US        | -310      | NC      | $-92225.00    | -0.06%            |  |  |  | No            | 2                  | On Loan: No      |
| N/A    | CBOE VOL CLL OPT 10/22 37.500                  | CUSIP: N/A<br>LEI: N/A | N/A              | DE               |  | US        | -310      | NC      | $-57350.00    | -0.04%            |  |  |  | No            | 2                  | On Loan: No      |
| N/A    | CBOE VOL CLL OPT 10/22 42.500                  | CUSIP: N/A<br>LEI: N/A | N/A              | DE               |  | US        | -310      | NC      | $-36425.00    | -0.02%            |  |  |  | No            | 2                  | On Loan: No      |
| N/A    | CBOE VOL PUT OPT 10/22 24                      | CUSIP: N/A<br>LEI: N/A | N/A              | DE               |  | US        | -310      | NC      | $-4650.00     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| N/A    | CBOE VOL PUT OPT 10/22 25                      | CUSIP: N/A<br>LEI: N/A | N/A              | DE               |  | US        | -310      | NC      | $-9300.00     | -0.01%            |  |  |  | No            | 2                  | On Loan: No      |
| N/A    | CBOE VOL PUT OPT 10/22 27                      | CUSIP: N/A<br>LEI: N/A | N/A              | DE               |  | US        | -310      | NC      | $-27125.00    | -0.02%            |  |  |  | No            | 2                  | On Loan: No      |
| N/A    | CBOE VOL PUT OPT 10/22 28                      | CUSIP: N/A<br>LEI: N/A | N/A              | DE               |  | US        | -310      | NC      | $-41075.00    | -0.03%            |  |  |  | No            | 2                  | On Loan: No      |
| N/A    | CBOE MAR CLL OPT 10/22 42.500                  | CUSIP: N/A<br>LEI: N/A | N/A              | DE               |  | US        | -68       | NC      | $-1530.00     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| N/A    | XAU 1807.47 AND SPX 3653.73 20 JAN 23          | CUSIP: N/A<br>LEI: N/A | N/A              | DCR              |  | US        | 428000    | NC      | $34917.52     | 0.02%             |  |  |  | No            | 2                  | On Loan: No      |
| N/A    | XAU 1807.47 AND SPX 3653.73 21 OCT 22          | CUSIP: N/A<br>LEI: N/A | N/A              | DCR              |  | US        | 599000    | NC      | $9563.63      | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| N/A    | AUST 10Y BOND FUT Dec22                        | CUSIP: N/A<br>LEI: N/A | N/A              | DIR              |  | AU        | -3        | NC      | $6081.08      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | SPI 200 FUTURES   Dec22                        | CUSIP: N/A<br>LEI: N/A | N/A              | DE               |  | AU        | 3         | NC      | $-27153.23    | -0.02%            |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | FTSE 250 Index FU Dec22                        | CUSIP: N/A<br>LEI: N/A | N/A              | DE               |  | GB        | -149      | NC      | $575352.28    | 0.35%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | FTSE 100 IDX FUT  Dec22                        | CUSIP: N/A<br>LEI: N/A | N/A              | DE               |  | GB        | 87        | NC      | $-336515.48   | -0.21%            |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | IRS REC FIXED 9.272% 12/21/2032                | CUSIP: N/A<br>LEI: N/A | N/A              | DIR              |  | US        | 1         | NC      | $-11796.14    | -0.01%            |  |  |  | No            | 2                  | On Loan: No      |
| N/A    | ZOETIS INC (USD) SWAP                          | CUSIP: N/A<br>LEI: N/A | N/A              | DE               |  | US        | 1         | NC      | $-5.90        | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | SPX 3909.63 AND CLH3 107.92 15 FEB 23          | CUSIP: N/A<br>LEI: N/A | N/A              | DCR              |  | US        | 513000    | NC      | $23347.14     | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| N/A    | SPX 3949.15 AND USD2YRSOFR 3.326 16 DEC 22     | CUSIP: N/A<br>LEI: N/A | N/A              | DCR              |  | US        | 428000    | NC      | $281178.02    | 0.17%             |  |  |  | No            | 2                  | On Loan: No      |
| N/A    | QUIMICA Y MINERA CHIL-SP ADR (US SWAP          | CUSIP: N/A<br>LEI: N/A | N/A              | DE               |  | US        | 1         | NC      | $25.72        | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | SX5E 10/21/22 C3700                            | CUSIP: N/A<br>LEI: N/A | N/A              | DE               |  | DE        | 509       | NC      | $10974.56     | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | SX5E 10/21/22 P3300                            | CUSIP: N/A<br>LEI: N/A | N/A              | DE               |  | DE        | -249      | NC      | $-194493.12   | -0.12%            |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | SX86P SWAP                                     | CUSIP: N/A<br>LEI: N/A | N/A              | DE               |  | US        | 1         | NC      | $286.47       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | IRS PAY FIXED 2.14% 12/21/2024                 | CUSIP: N/A<br>LEI: N/A | N/A              | DIR              |  | US        | 1         | NC      | $12691.13     | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| N/A    | IRS PAY FIXED 2.6% 12/21/2027                  | CUSIP: N/A<br>LEI: N/A | N/A              | DIR              |  | US        | 1         | NC      | $32323.38     | 0.02%             |  |  |  | No            | 2                  | On Loan: No      |
| N/A    | THB/USD FWD 20221221                           | CUSIP: N/A<br>LEI: N/A | N/A              | DFE              |  | US        | 1         | NC      | $-16636.87    | -0.01%            |  |  |  | No            | 2                  | On Loan: No      |
| N/A    | THB/USD FWD 20221221                           | CUSIP: N/A<br>LEI: N/A | N/A              | DFE              |  | US        | 1         | NC      | $-5242.32     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| N/A    | TRY/USD FWD 20221221                           | CUSIP: N/A<br>LEI: N/A | N/A              | DFE              |  | US        | 1         | NC      | $8429.60      | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| N/A    | TRY/USD FWD 20221221                           | CUSIP: N/A<br>LEI: N/A | N/A              | DFE              |  | US        | 1         | NC      | $-513.08      | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| N/A    | IRS PAY FIXED 1.42% 12/21/2027                 | CUSIP: N/A<br>LEI: N/A | N/A              | DIR              |  | US        | 1         | NC      | $-8444.40     | -0.01%            |  |  |  | No            | 2                  | On Loan: No      |
| N/A    | TWD/USD FWD 20221221                           | CUSIP: N/A<br>LEI: N/A | N/A              | DFE              |  | US        | 1         | NC      | $106227.87    | 0.07%             |  |  |  | No            | 2                  | On Loan: No      |
| N/A    | TWD/USD FWD 20221221                           | CUSIP: N/A<br>LEI: N/A | N/A              | DFE              |  | US        | 1         | NC      | $-3598.32     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| N/A    | US 10YR NOTE (CBT)Dec22                        | CUSIP: N/A<br>LEI: N/A | N/A              | DIR              |  | US        | 140       | NC      | $-52109.35    | -0.03%            |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | EURO-BUXL 30Y BND Dec22                        | CUSIP: N/A<br>LEI: N/A | N/A              | DIR              |  | DE        | 6         | NC      | $-78286.09    | -0.05%            |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | UK Emiss Allow Fu Dec22                        | CUSIP: N/A<br>LEI: N/A | N/A              | DO               |  | GB        | -35       | NC      | $379100.06    | 0.23%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | UKX 03/17/23 P6300                             | CUSIP: N/A<br>LEI: N/A | N/A              | DE               |  | GB        | -117      | NC      | $-264537.42   | -0.16%            |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | UKX 12/15/23 C8000                             | CUSIP: N/A<br>LEI: N/A | N/A              | DE               |  | GB        | 107       | NC      | $256263.82    | 0.16%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | UKX 12/15/23 P6500                             | CUSIP: N/A<br>LEI: N/A | N/A              | DE               |  | GB        | -105      | NC      | $-473052.19   | -0.29%            |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | IRS REC FIXED 2.766300% 09/02/2032             | CUSIP: N/A<br>LEI: N/A | N/A              | DIR              |  | US        | 1         | NC      | $221752.05    | 0.14%             |  |  |  | No            | 2                  | On Loan: No      |
| N/A    | IRS PAY FIXED 2.945% 9/23/2024                 | CUSIP: N/A<br>LEI: N/A | N/A              | DIR              |  | US        | 1         | NC      | $-33195.21    | -0.02%            |  |  |  | No            | 2                  | On Loan: No      |
| N/A    | IRS PAY FIXED 3.3% 07/15/2024                  | CUSIP: N/A<br>LEI: N/A | N/A              | DIR              |  | US        | 1         | NC      | $-6590.43     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| N/A    | IRS PAY FIXED 3.489% 01/14/2024                | CUSIP: N/A<br>LEI: N/A | N/A              | DIR              |  | US        | 1         | NC      | $267364.80    | 0.16%             |  |  |  | No            | 2                  | On Loan: No      |
| N/A    | IRS PAY FIXED 4.07% 05/13/2024                 | CUSIP: N/A<br>LEI: N/A | N/A              | DIR              |  | US        | 1         | NC      | $-32847.12    | -0.02%            |  |  |  | No            | 2                  | On Loan: No      |
| N/A    | IRS PAY FIXED 4.19% 06/22/2024                 | CUSIP: N/A<br>LEI: N/A | N/A              | DIR              |  | US        | 1         | NC      | $-18134.77    | -0.01%            |  |  |  | No            | 2                  | On Loan: No      |
| N/A    | IRS PAY FIXED 4.205% 06/22/2024                | CUSIP: N/A<br>LEI: N/A | N/A              | DIR              |  | US        | 1         | NC      | $-15441.38    | -0.01%            |  |  |  | No            | 2                  | On Loan: No      |
| N/A    | IRS PAY FIXED 4.2833% 06/22/2024               | CUSIP: N/A<br>LEI: N/A | N/A              | DIR              |  | US        | 1         | NC      | $-114301.81   | -0.07%            |  |  |  | No            | 2                  | On Loan: No      |
| N/A    | IRS PAY FIXED 4.35% 04/05/2024                 | CUSIP: N/A<br>LEI: N/A | N/A              | DIR              |  | US        | 1         | NC      | $-13644.23    | -0.01%            |  |  |  | No            | 2                  | On Loan: No      |
| N/A    | IRS PAY FIXED 4.413% 04/14/2024                | CUSIP: N/A<br>LEI: N/A | N/A              | DIR              |  | US        | 1         | NC      | $-12006.91    | -0.01%            |  |  |  | No            | 2                  | On Loan: No      |
| N/A    | IRS PAY FIXED 4.44% 05/06/2024                 | CUSIP: N/A<br>LEI: N/A | N/A              | DIR              |  | US        | 1         | NC      | $-67293.58    | -0.04%            |  |  |  | No            | 2                  | On Loan: No      |
| N/A    | IRS REC FIXED 3.661% 12/21/2025                | CUSIP: N/A<br>LEI: N/A | N/A              | DIR              |  | US        | 1         | NC      | $-5374.24     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| N/A    | IRS PAY FIXED 2.9430000% 09/02/2027            | CUSIP: N/A<br>LEI: N/A | N/A              | DIR              |  | US        | 1         | NC      | $-154398.00   | -0.09%            |  |  |  | No            | 2                  | On Loan: No      |
| N/A    | USDCCNHP 6.80 ERKO 7.00 12/10/2022             | CUSIP: N/A<br>LEI: N/A | N/A              | DFE              |  | US        | 2238699   | NC      | $3389.39      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| N/A    | USDCINRP 84.0 9/11/2022                        | CUSIP: N/A<br>LEI: N/A | N/A              | DFE              |  | US        | 8824000   | NC      | $23224.77     | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| N/A    | USDCINRP 87 23/12/2022                         | CUSIP: N/A<br>LEI: N/A | N/A              | DFE              |  | US        | 21918000  | NC      | $47627.81     | 0.03%             |  |  |  | No            | 2                  | On Loan: No      |
| N/A    | USDCINRP DIGI 85.0 27/10/2022                  | CUSIP: N/A<br>LEI: N/A | N/A              | DFE              |  | US        | 440000    | NC      | $18424.12     | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| N/A    | MEXICAN PESO FUT  Dec22                        | CUSIP: N/A<br>LEI: N/A | N/A              | DFE              |  | US        | 17        | NC      | $15.00        | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | PHP/USD FWD 20221221                           | CUSIP: N/A<br>LEI: N/A | N/A              | DFE              |  | US        | 1         | NC      | $16004.57     | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| N/A    | PHP/USD FWD 20221221                           | CUSIP: N/A<br>LEI: N/A | N/A              | DFE              |  | US        | 1         | NC      | $6823.56      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| N/A    | PLATINUM FUTURE   Jan23                        | CUSIP: N/A<br>LEI: N/A | N/A              | DCO              |  | US        | 12        | NC      | $14285.00     | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | IRS REC FIXED 6.211% 12/21/2032                | CUSIP: N/A<br>LEI: N/A | N/A              | DIR              |  | US        | 1         | NC      | $-7049.29     | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| N/A    | IRS PAY FIXED 6.909% 12/21/2025                | CUSIP: N/A<br>LEI: N/A | N/A              | DIR              |  | US        | 1         | NC      | $1814.23      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| N/A    | IRS PAY FIXED 6.454% 12/21/2027                | CUSIP: N/A<br>LEI: N/A | N/A              | DIR              |  | US        | 1         | NC      | $50005.60     | 0.03%             |  |  |  | No            | 2                  | On Loan: No      |
| N/A    | PLN/USD FWD 20221031                           | CUSIP: N/A<br>LEI: N/A | N/A              | DFE              |  | US        | 1         | NC      | $184.67       | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| N/A    | PLN/USD FWD 20221031                           | CUSIP: N/A<br>LEI: N/A | N/A              | DFE              |  | US        | 1         | NC      | $175.52       | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| N/A    | S&P/TSX 60 IX FUT Dec22                        | CUSIP: N/A<br>LEI: N/A | N/A              | DE               |  | CA        | -2        | NC      | $666.02       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | OMXS30 IND FUTURE Oct22                        | CUSIP: N/A<br>LEI: N/A | N/A              | DE               |  | SE        | 5         | NC      | $-3802.61     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | Low Su Gasoil G   Nov22                        | CUSIP: N/A<br>LEI: N/A | N/A              | DCO              |  | GB        | 1         | NC      | $-6050.00     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | WHITE SUGAR (ICE) Dec22                        | CUSIP: N/A<br>LEI: N/A | N/A              | DCO              |  | GB        | 4         | NC      | $5025.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | MSCI SING IX ETS  Oct22                        | CUSIP: N/A<br>LEI: N/A | N/A              | DE               |  | SG        | -5        | NC      | $343.26       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | CANOLA FUTR (WCE) Nov22                        | CUSIP: N/A<br>LEI: N/A | N/A              | DCO              |  | CA        | -6        | NC      | $-4282.78     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | E-Mini Russ 2000  Dec22                        | CUSIP: N/A<br>LEI: N/A | N/A              | DE               |  | US        | -1        | NC      | $4200.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | EURO-BUND FUTURE  Dec22                        | CUSIP: N/A<br>LEI: N/A | N/A              | DIR              |  | DE        | 22        | NC      | $2832.30      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | SOYBEAN FUTURE    Nov22                        | CUSIP: N/A<br>LEI: N/A | N/A              | DCO              |  | US        | 2         | NC      | $-6283.89     | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | SILVER FUTURE     Dec22                        | CUSIP: N/A<br>LEI: N/A | N/A              | DCO              |  | US        | -1        | NC      | $1755.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | S&P 500 UTILITIES INDEX SWAP                   | CUSIP: N/A<br>LEI: N/A | N/A              | DE               |  | US        | 1         | NC      | $-108621.40   | -0.07%            |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | SUGAR #11 (WORLD) Mar23                        | CUSIP: N/A<br>LEI: N/A | N/A              | DCO              |  | US        | -1        | NC      | $235.20       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | SGX Iron Ore 62%  Oct22                        | CUSIP: N/A<br>LEI: N/A | N/A              | DCO              |  | SG        | -1        | NC      | $59.00        | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | SGX Iron Ore 62%  Nov22                        | CUSIP: N/A<br>LEI: N/A | N/A              | DCO              |  | SG        | -8        | NC      | $-407.00      | -0.00%            |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | IRS REC FIXED 2.906% 12/21/2032                | CUSIP: N/A<br>LEI: N/A | N/A              | DIR              |  | US        | 1         | NC      | $-23839.03    | -0.01%            |  |  |  | No            | 2                  | On Loan: No      |
| N/A    | SEK/USD FWD 20221031                           | CUSIP: N/A<br>LEI: N/A | N/A              | DFE              |  | US        | 1         | NC      | $-22378.23    | -0.01%            |  |  |  | No            | 2                  | On Loan: No      |
| N/A    | SEK/USD FWD 20221031                           | CUSIP: N/A<br>LEI: N/A | N/A              | DFE              |  | US        | 1         | NC      | $3269.98      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| N/A    | SWEDISH KRONA FUT Dec22                        | CUSIP: N/A<br>LEI: N/A | N/A              | DFE              |  | US        | -10       | NC      | $37604.00     | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | IRS PAY FIXED 3.01% 12/21/2032                 | CUSIP: N/A<br>LEI: N/A | N/A              | DIR              |  | US        | 1         | NC      | $5104.93      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| N/A    | IRS PAY FIXED 3.162% 12/21/2025                | CUSIP: N/A<br>LEI: N/A | N/A              | DIR              |  | US        | 1         | NC      | $23247.81     | 0.01%             |  |  |  | No            | 2                  | On Loan: No      |
| N/A    | SGD/USD FWD 20221031                           | CUSIP: N/A<br>LEI: N/A | N/A              | DFE              |  | US        | 1         | NC      | $-306.38      | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| N/A    | SGD/USD FWD 20221031                           | CUSIP: N/A<br>LEI: N/A | N/A              | DFE              |  | US        | 1         | NC      | $-987.87      | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| N/A    | SOYBEAN MEAL FUTR Dec22                        | CUSIP: N/A<br>LEI: N/A | N/A              | DCO              |  | US        | 2         | NC      | $3150.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | MARKIT ITRX EUROPE 12/22 (BUY PROTECTION)      | CUSIP: N/A<br>LEI: N/A | N/A              | DCR              |  | US        | 1         | NC      | $-890.53      | -0.00%            |  |  |  | No            | 2                  | On Loan: No      |
| N/A    | MARKIT CDX.NA.HY.39 12/27 V1 (SELL PROTECTION) | CUSIP: N/A<br>LEI: N/A | N/A              | DCR              |  | US        | 1         | NC      | $-98177.49    | -0.06%            |  |  |  | No            | 2                  | On Loan: No      |
| N/A    | MARKIT CDX.NA.IG.39 12/27 (BUY PROTECTION)     | CUSIP: N/A<br>LEI: N/A | N/A              | DCR              |  | US        | 1         | NC      | $2983.66      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| N/A    | MARKIT ITRX EUR XOVER 12/27 (BUY PROTECTION)   | CUSIP: N/A<br>LEI: N/A | N/A              | DCR              |  | US        | 1         | NC      | $5058.10      | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| N/A    | SPX                                            | LEI: N/A               |  |  |  |  |  |  |  |  |  |  |  |  |  |  |