# EDGAR Filing Document

**Accession Number:** 0001141819
**File Stem:** 0001133228-26-007929
**Filing Date:** 2026-5
**Character Count:** 260712
**Document Hash:** 07fe5311b88eba1bcadfd3508f5f5a08
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001133228-26-007929.hdr.sgml**: 20260504

**ACCESSION NUMBER**: 0001133228-26-007929

**CONFORMED SUBMISSION TYPE**: N-CSRS

**PUBLIC DOCUMENT COUNT**: 26

**CONFORMED PERIOD OF REPORT**: 20260228

**FILED AS OF DATE**: 20260504

**DATE AS OF CHANGE**: 20260504

**EFFECTIVENESS DATE**: 20260504

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** TRUST FOR PROFESSIONAL MANAGERS
- **CENTRAL INDEX KEY:** 0001141819

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** N-CSRS
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-10401
- **FILM NUMBER:** 26939131

**BUSINESS ADDRESS:**
- **STREET 1:** U.S. BANCORP FUND SERVICES LLC
- **STREET 2:** 615 EAST MICHIGAN ST 2ND FLOOR
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53202
- **BUSINESS PHONE:** 4147655067

**MAIL ADDRESS:**
- **STREET 1:** U.S. BANCORP FUND SERVICES LLC
- **STREET 2:** 615 EAST MICHIGAN ST 2ND FLOOR
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53202

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ZODIAC TRUST
- **DATE OF NAME CHANGE:** 20010601

## Series and Classes Contracts Data

### Column Small Cap Select Fund (Series ID: S000082920)

| Class ID   | Class Name                   | Ticker Symbol   |
|:---|:---|:---|
| C000246264 | Column Small Cap Select Fund | CFSSX           |

### Column Small Cap Fund (Series ID: S000082921)

| Class ID   | Class Name            | Ticker Symbol   |
|:---|:---|:---|
| C000246265 | Column Small Cap Fund | CFSLX           |

### Column Mid Cap Select Fund (Series ID: S000082922)

| Class ID   | Class Name                 | Ticker Symbol   |
|:---|:---|:---|
| C000246266 | Column Mid Cap Select Fund | CFMSX           |

### Column Mid Cap Fund (Series ID: S000082923)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000246267 | Column Mid Cap Fund | CFMCX           |

?xml version='1.0' encoding='ASCII'? 2025-12-29195050_ColumnSmallCapSelectFund_TF_TSRSemiAnnual

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

**FORM N-CSR**

**CERTIFIED SHAREHOLDER REPORT OF REGISTERED**

**MANAGEMENT INVESTMENT COMPANIES**

Investment Company Act file number 811-10401

Trust for Professional Managers

(Exact name of registrant as specified in charter)

615 East Michigan Street

Milwaukee, WI 53202

(Address of principal executive offices) (Zip code)

Jay S. Fitton

U.S. Bancorp Fund Services, LLC

615 East Michigan Street

Milwaukee, WI 53202

(Name and address of agent for service)

(513) 520-5925

Registrant's telephone number, including area code

Date of fiscal year end: **<u>August 31, 2026</u>**

Date of reporting period: **<u>February 28, 2026</u>**

**<u>Item 1. Reports to Stockholders.</u>**

(a) ---

| | | |
|:---|:---|:---|
| ![image](img132888_202409101209288.jpg) | **Column Small Cap Select Fund**  | ![image](img132884_202502281452552.jpg) |
| ![image](img132888_202409101209288.jpg) | CFSSX  | ![image](img132884_202502281452552.jpg) |
| ![image](img132888_202409101209288.jpg) | Semi-Annual Shareholder Report \| February 28, 2026  | ![image](img132884_202502281452552.jpg) |

---

This semi-annual shareholder report contains important information about the Column Small Cap Select Fund (the "Fund") for the period of September 1, 2025, to February 28, 2026. You can find additional information about the Fund at https://columnfunds.com/literature. You can also request this information by contacting us at 1-866-950-4644.

**WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund Name** | **Costs of a $10,000** **investment** | **Costs paid as a percentage of** **a $10,000 investment** **\*** |
| Column Small Cap Select Fund | $32 | 0.60% |

---

\* Annualized

**KEY FUND STATISTICS** (as of February 28, 2026)

---

| | |
|:---|:---|
| **Net Assets** | $1731416250 |
| **Number of Holdings** | 398 |
| **Net Advisory Fee** | $3508547 |
| **Portfolio Turnover** | 56% |

---

**WHAT DID THE FUND INVEST IN?** (% of total investments as of February 28, 2026)

**Top Sectors** **\***

![image](ts6879img003.jpg)

---

| | |
|:---|:---|
| **Top Holdings** | **(%)** |
|  First American Government Obligations Fund - Class X  | 3.8% |
|  BKV Corp.  | 1.3% |
|  Teradata Corp.  | 1.3% |
|  Ultra Clean Holdings, Inc.  | 1.2% |
|  National Vision Holdings, Inc.  | 1.1% |
|  Viasat, Inc.  | 1.0% |
|  Tri Pointe Homes, Inc.  | 0.9% |
|  iShares Russell 2000 Value ETF  | 0.9% |
|  PTC Therapeutics, Inc.  | 0.9% |
|  Littelfuse, Inc.  | 0.9% |

---

\* The Global Industry Classification Standard ("GICS®") was developed by and/or is the exclusive property of MSCI, Inc. ("MSCI") and Standard & Poor's Financial Services LLC ("S&P"). GICS® is a service mark of MSCI and S&P and has been licensed for use by the Fund's investment adviser.

For additional information about the Fund, including its prospectus, financial information, holdings and proxy voting information, scan the QR code above or visit https://columnfunds.com/literature.

Column Small Cap Select Fund PAGE 1 TSR-SAR-89834G620

------

**HOUSEHOLDING**

To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). If you would prefer that your Fund documents not be householded, please contact the Fund at 1-866-950-4644, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by the Fund or your financial intermediary.

Column Small Cap Select Fund PAGE 2 TSR-SAR-89834G620

25.116.813.510.48.77.25.93.41.97.1 ------

---

| | | |
|:---|:---|:---|
| ![image](img132888_202409101209288.jpg) | **Column Small Cap Fund**  | ![image](img132884_202502281452552.jpg) |
| ![image](img132888_202409101209288.jpg) | CFSLX  | ![image](img132884_202502281452552.jpg) |
| ![image](img132888_202409101209288.jpg) | Semi-Annual Shareholder Report \| February 28, 2026  | ![image](img132884_202502281452552.jpg) |

---

This semi-annual shareholder report contains important information about the Column Small Cap Fund (the "Fund") for the period of September 1, 2025, to February 28, 2026. You can find additional information about the Fund at https://columnfunds.com/literature. You can also request this information by contacting us at 1-866-950-4644.

**WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund Name** | **Costs of a $10,000** **investment** | **Costs paid as a percentage of** **a $10,000 investment** **\*** |
| Column Small Cap Fund | $31 | 0.59% |

---

\* Annualized

**KEY FUND STATISTICS** (as of February 28, 2026)

---

| | |
|:---|:---|
| **Net Assets** | $514441887 |
| **Number of Holdings** | 982 |
| **Net Advisory Fee** | $975054 |
| **Portfolio Turnover** | 34% |

---

**WHAT DID THE FUND INVEST IN?** (% of total investments as of February 28, 2026)

**Top Sectors** **\***

![image](ts6880img003.jpg)

---

| | |
|:---|:---|
| **Top Holdings** | **(%)** |
|  First American Government Obligations Fund - Class X  | 3.4% |
|  ServisFirst Bancshares, Inc.  | 0.8% |
|  Regal Rexnord Corp.  | 0.8% |
|  Commercial Metals Co.  | 0.8% |
|  Enerpac Tool Group Corp.  | 0.8% |
|  iShares Russell 2000 Value ETF  | 0.7% |
|  Toro Co.  | 0.7% |
|  Element Solutions, Inc.  | 0.7% |
|  Valmont Industries, Inc.  | 0.7% |
|  AAON, Inc.  | 0.7% |

---

\* The Global Industry Classification Standard ("GICS®") was developed by and/or is the exclusive property of MSCI, Inc. ("MSCI") and Standard & Poor's Financial Services LLC ("S&P"). GICS® is a service mark of MSCI and S&P and has been licensed for use by the Fund's investment adviser.

For additional information about the Fund, including its prospectus, financial information, holdings and proxy voting information, scan the QR code above or visit https://columnfunds.com/literature.

Column Small Cap Fund PAGE 1 TSR-SAR-89834G612

------

**HOUSEHOLDING**

To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). If you would prefer that your Fund documents not be householded, please contact the Fund at 1-866-950-4644, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by the Fund or your financial intermediary.

Column Small Cap Fund PAGE 2 TSR-SAR-89834G612

23.618.313.010.58.47.36.43.21.97.4 ------

---

| | | |
|:---|:---|:---|
| ![image](img132888_202409101209288.jpg) | **Column Mid Cap Select Fund**  | ![image](img132884_202502281452552.jpg) |
| ![image](img132888_202409101209288.jpg) | CFMSX  | ![image](img132884_202502281452552.jpg) |
| ![image](img132888_202409101209288.jpg) | Semi-Annual Shareholder Report \| February 28, 2026  | ![image](img132884_202502281452552.jpg) |

---

This semi-annual shareholder report contains important information about the Column Mid Cap Select Fund (the "Fund") for the period of September 1, 2025, to February 28, 2026. You can find additional information about the Fund at https://columnfunds.com/literature. You can also request this information by contacting us at 1-866-950-4644.

**WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund Name** | **Costs of a $10,000** **investment** | **Costs paid as a percentage of** **a $10,000 investment** **\*** |
| Column Mid Cap Select Fund | $26 | 0.50% |

---

\* Annualized

**KEY FUND STATISTICS** (as of February 28, 2026)

---

| | |
|:---|:---|
| **Net Assets** | $3009857889 |
| **Number of Holdings** | 201 |
| **Net Advisory Fee** | $4982829 |
| **Portfolio Turnover** | 10% |

---

**WHAT DID THE FUND INVEST IN?** (% of total investments as of February 28, 2026)

**Top Sectors** **\***

![image](ts6881img003.jpg)

---

| | |
|:---|:---|
| **Top Holdings** | **(%)** |
|  First American Government Obligations Fund - Class X  | 2.9% |
|  Ross Stores, Inc.  | 2.2% |
|  AMETEK, Inc.  | 2.1% |
|  Teledyne Technologies, Inc.  | 1.8% |
|  Keysight Technologies, Inc.  | 1.7% |
|  Houlihan Lokey, Inc.  | 1.7% |
|  Westinghouse Air Brake Technologies Corp.  | 1.7% |
|  EMCOR Group, Inc.  | 1.6% |
|  Monolithic Power Systems, Inc.  | 1.5% |
|  Old Dominion Freight Line, Inc.  | 1.5% |

---

\* The Global Industry Classification Standard ("GICS®") was developed by and/or is the exclusive property of MSCI, Inc. ("MSCI") and Standard & Poor's Financial Services LLC ("S&P"). GICS® is a service mark of MSCI and S&P and has been licensed for use by the Fund's investment adviser.

For additional information about the Fund, including its prospectus, financial information, holdings and proxy voting information, scan the QR code above or visit https://columnfunds.com/literature.

Column Mid Cap Select Fund PAGE 1 TSR-SAR-89834G596

------

**HOUSEHOLDING**

To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). If you would prefer that your Fund documents not be householded, please contact the Fund at 1-866-950-4644, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by the Fund or your financial intermediary.

Column Mid Cap Select Fund PAGE 2 TSR-SAR-89834G596

31.815.412.610.910.54.03.93.72.25.0 ------

---

| | | |
|:---|:---|:---|
| ![image](img132888_202409101209288.jpg) | **Column Mid Cap Fund**  | ![image](img132884_202502281452552.jpg) |
| ![image](img132888_202409101209288.jpg) | CFMCX  | ![image](img132884_202502281452552.jpg) |
| ![image](img132888_202409101209288.jpg) | Semi-Annual Shareholder Report \| February 28, 2026  | ![image](img132884_202502281452552.jpg) |

---

This semi-annual shareholder report contains important information about the Column Mid Cap Fund (the "Fund") for the period of September 1, 2025, to February 28, 2026. You can find additional information about the Fund at https://columnfunds.com/literature. You can also request this information by contacting us at 1-866-950-4644.

**WHAT WERE THE FUND COSTS FOR THE LAST SIX MONTHS?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund Name** | **Costs of a $10,000** **investment** | **Costs paid as a percentage of** **a $10,000 investment** **\*** |
| Column Mid Cap Fund | $24 | 0.47% |

---

\* Annualized

**KEY FUND STATISTICS** (as of February 28, 2026)

---

| | |
|:---|:---|
| **Net Assets** | $1089476349 |
| **Number of Holdings** | 674 |
| **Net Advisory Fee** | $1666550 |
| **Portfolio Turnover** | 22% |

---

**WHAT DID THE FUND INVEST IN?** (% of total investments as of February 28, 2026)

**Top Sectors** **\***

![image](ts6882img003.jpg)

---

| | |
|:---|:---|
| **Top Holdings** | **(%)** |
|  First American Government Obligations Fund - Class X  | 2.2% |
|  Monolithic Power Systems, Inc.  | 1.4% |
|  AMETEK, Inc.  | 1.4% |
|  Ross Stores, Inc.  | 1.4% |
|  Cencora, Inc.  | 1.1% |
|  LPL Financial Holdings, Inc.  | 0.9% |
|  Keysight Technologies, Inc.  | 0.9% |
|  Houlihan Lokey, Inc.  | 0.9% |
|  Vertiv Holdings Co. - Class A  | 0.9% |
|  Westinghouse Air Brake Technologies Corp.  | 0.9% |

---

\* The Global Industry Classification Standard ("GICS®") was developed by and/or is the exclusive property of MSCI, Inc. ("MSCI") and Standard & Poor's Financial Services LLC ("S&P"). GICS® is a service mark of MSCI and S&P and has been licensed for use by the Fund's investment adviser.

For additional information about the Fund, including its prospectus, financial information, holdings and proxy voting information, scan the QR code above or visit https://columnfunds.com/literature.

Column Mid Cap Fund PAGE 1 TSR-SAR-89834G588

------

**HOUSEHOLDING**

To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). If you would prefer that your Fund documents not be householded, please contact the Fund at 1-866-950-4644, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by the Fund or your financial intermediary.

Column Mid Cap Fund PAGE 2 TSR-SAR-89834G588

27.114.213.111.410.44.64.34.23.96.8 ------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Not applicable.

**<u>Item 2. Code of Ethics.</u>**

Not applicable for semi-annual reports.

**<u>Item 3. Audit Committee Financial Expert.</u>**

Not applicable for semi-annual reports.

**<u>Item 4. Principal Accountant Fees and Services.</u>**

Not applicable for semi-annual reports.

**<u>Item 5. Audit Committee of Listed Registrants.</u>**

Not applicable.

**<u>Item 6. Investments.</u>**

&nbsp;&nbsp;&nbsp;&nbsp;(a) Schedule of Investments is included as part of the report to shareholders filed under
 Item 7(a) of this Form.

&nbsp;&nbsp;&nbsp;&nbsp;(b) Not applicable.

**<u>Item 7. Financial Statements and Financial Highlights for Open-End Investment Companies.</u>**

(a) ![](mutualfundscolumn_efp-18131.jpg)

**Column Small Cap Select Fund** 

**Column Small Cap Fund** 

**Column Mid Cap Select Fund** 

**Column Mid Cap Fund** 

Semi-Annual Financial Statements and

Additional Information

February 28, 2026

**Investment Adviser** 

**Mason Street Advisors, LLC** 

**720 East Wisconsin Avenue** 

**Milwaukee, Wisconsin 53202**

------

**TABLE OF CONTENTS** 

---

| | |
|:---|:---|
|  | **Page**  |
| [Schedules of Investments](#a_003)<br>|  |
| &nbsp;&nbsp;&nbsp; [Column Small Cap Select Fund](#tsoi1) | [1](#tsoi1) |
| &nbsp;&nbsp;&nbsp; [Column Small Cap Fund](#tsoi2) | [8](#tsoi2) |
| &nbsp;&nbsp;&nbsp; [Column Mid Cap Select Fund](#tsoi3) | [22](#tsoi3) |
| &nbsp;&nbsp;&nbsp; [Column Mid Cap Fund](#tsoi4) | [26](#tsoi4) |
| [Statements of Assets and Liabilities](#sal) | [37](#sal) |
| [Statements of Operations](#sop) | [38](#sop) |
| [Statements of Changes in Net Assets](#scna) | [39](#scna) |
| [Financial Highlights](#a_004)<br>|  |
| &nbsp;&nbsp;&nbsp; [Column Small Cap Select Fund](#fihi1) | [41](#fihi1) |
| &nbsp;&nbsp;&nbsp; [Column Small Cap Fund](#fihi2) | [42](#fihi2) |
| &nbsp;&nbsp;&nbsp; [Column Mid Cap Select Fund](#fihi3) | [43](#fihi3) |
| &nbsp;&nbsp;&nbsp; [Column Mid Cap Fund](#fihi4) | [44](#fihi4) |
| [Notes to Financial Statements](#tnotes) | [45](#tnotes) |
| [Additional Information](#taddin) | [57](#taddin) |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

**Column Small Cap Select Fund** 

**Schedule of Investments** 

**February 28, 2026 (Unaudited)** 

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value**  |
| **COMMON STOCKS — 93.7%**<br>|  |  |
| **Aerospace & Defense — 3.4%**<br>|  |  |
| ATI, Inc.<sup>(a)</sup> | 33415 | $5466360  |
| Axon Enterprise, Inc.<sup>(a)</sup> | 3697 | 2005253  |
| Carpenter Technology Corp. | 13049 | 5194415  |
| Curtiss-Wright Corp. | 8391 | 5876469  |
| Embraer SA - ADR | 36117 | 2608370  |
| FTAI Aviation Ltd. | 20318 | 6213244  |
| Hexcel Corp. | 38825 | 3598689  |
|  Huntington Ingalls Industries, Inc. | 14910 | 6627793  |
| Karman Holdings, Inc.<sup>(a)</sup> | 21474 | 1892074  |
|  Kratos Defense & Security Solutions, Inc.<sup>(a)</sup> | 20749 | 1788149  |
| Mercury Systems, Inc.<sup>(a)</sup> | 62432 | 5558321  |
| V2X, Inc.<sup>(a)</sup> | 98953 | 6901972  |
| VSE Corp. | 25480 | 5785744  |
|  |  | 59516853  |
| **Air Freight & Logistics — 0.1%**<br>|  |  |
| GXO Logistics, Inc.<sup>(a)</sup> | 31975 | 2008989  |
| **Automobile Components — 0.9%**<br>|  |  |
| Garrett Motion, Inc. | 69956 | 1424304  |
| Holley, Inc.<sup>(a)</sup> | 2031656 | 8289157  |
| Lear Corp. | 28289 | 3712931  |
| Patrick Industries, Inc. | 17067 | 2112724  |
|  |  | 15539116  |
| **Automobiles — 0.1%**<br>|  |  |
| Thor Industries, Inc. | 9259 | 890068  |
| **Banks — 6.4%**<br>|  |  |
| Ameris Bancorp | 58985 | 4580775  |
| Banc of California, Inc. | 196440 | 3628247  |
| BankUnited, Inc. | 35718 | 1668031  |
| &nbsp;&nbsp;&nbsp; Columbia Banking System, <br>Inc. | 117920 | 3354824  |
|  Community Financial System, Inc. | 40081 | 2426904  |
| Cullen/Frost Bankers, Inc. | 39306 | 5432875  |
| Customers Bancorp, Inc.<sup>(a)</sup> | 35623 | 2402415  |
| First BanCorp | 532131 | 11243928  |
| First Financial Bancorp | 146200 | 4103834  |
| &nbsp;&nbsp;&nbsp; First Financial Bankshares, <br>Inc. | 43098 | 1333021  |
| Glacier Bancorp, Inc. | 164910 | 7501756  |
| Huntington Bancshares, Inc. | 422101 | 7091297  |
| Lakeland Financial Corp. | 24474 | 1421695  |
| Northpointe Bancshares, Inc. | 416693 | 7525476  |
| Old National Bancorp | 144460 | 3337026  |
|  Peapack-Gladstone Financial Corp. | 109482 | 3666552  |
| Prosperity Bancshares, Inc. | 106360 | 7484553  |
| SouthState Bank Corp. | 51355 | 5067198  |
| Stock Yards Bancorp, Inc. | 11244 | 721190  |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value**  |
| &nbsp;&nbsp;&nbsp; Texas Capital Bancshares, <br>Inc.<sup>(a)</sup> | 63743 | $6074708  |
| UMB Financial Corp. | 52615 | 6097026  |
| United Bankshares, Inc. | 90150 | 3723195  |
| United Community Banks, Inc. | 157572 | 5069091  |
| Wintrust Financial Corp. | 18895 | 2722014  |
| WSFS Financial Corp. | 42090 | 2673136  |
|  |  | 110350767  |
| **Beverages — 0.5%**<br>|  |  |
| Coca-Cola Consolidated, Inc. | 44220 | 8950128  |
| **Biotechnology — 5.0%**<br>|  |  |
| Alkermes PLC<sup>(a)</sup> | 45233 | 1361513  |
| Apogee Therapeutics, Inc.<sup>(a)</sup> | 57950 | 4056500  |
| Arcutis Biotherapeutics, Inc.<sup>(a)</sup> | 68609 | 1850385  |
|  Arrowhead Pharmaceuticals, Inc.<sup>(a)</sup> | 55868 | 3534768  |
| Bridgebio Pharma, Inc.<sup>(a)</sup> | 48253 | 3207859  |
| CareDx, Inc.<sup>(a)</sup> | 585841 | 10990377  |
| CG oncology, Inc.<sup>(a)</sup> | 52017 | 3058600  |
| Immunome, Inc.<sup>(a)</sup> | 101877 | 2227031  |
| Kymera Therapeutics, Inc.<sup>(a)</sup> | 46158 | 4216533  |
| &nbsp;&nbsp;&nbsp; Madrigal Pharmaceuticals, <br>Inc.<sup>(a)</sup> | 6339 | 2738448  |
| Natera, Inc.<sup>(a)</sup> | 11256 | 2341698  |
| Nuvalent, Inc. - Class A<sup>(a)</sup> | 18821 | 1918801  |
|  Praxis Precision Medicines, Inc.<sup>(a)</sup> | 22389 | 7539496  |
| &nbsp;&nbsp;&nbsp; Protagonist Therapeutics, <br>Inc.<sup>(a)</sup> | 30802 | 2836248  |
| PTC Therapeutics, Inc.<sup>(a)</sup> | 235445 | 16054995  |
| &nbsp;&nbsp;&nbsp; Rhythm Pharmaceuticals, <br>Inc.<sup>(a)</sup> | 29144 | 2702523  |
| Scholar Rock Holding Corp.<sup>(a)</sup> | 69155 | 3061492  |
| Spyre Therapeutics, Inc.<sup>(a)</sup> | 82062 | 3529487  |
| Travere Therapeutics, Inc.<sup>(a)</sup> | 73246 | 2181998  |
| Twist Bioscience Corp.<sup>(a)</sup> | 33393 | 1566800  |
| Veracyte, Inc.<sup>(a)</sup> | 51096 | 1869603  |
| Xenon Pharmaceuticals, Inc.<sup>(a)</sup> | 92377 | 3993458  |
|  |  | 86838613  |
| **Building Products — 2.0%**<br>|  |  |
| &nbsp;&nbsp;&nbsp; Armstrong World Industries, <br>Inc. | 9949 | 1726151  |
| Carlisle Cos., Inc. | 19505 | 7699989  |
| CSW Industrials, Inc. | 15044 | 4427900  |
| Griffon Corp. | 19963 | 1701646  |
| Hayward Holdings, Inc.<sup>(a)</sup> | 83123 | 1329968  |
| Modine Manufacturing Co.<sup>(a)</sup> | 14919 | 3390343  |
| Resideo Technologies, Inc.<sup>(a)</sup> | 295870 | 11450169  |
| &nbsp;&nbsp;&nbsp; Simpson Manufacturing Co., <br>Inc. | 8093 | 1566562  |
|  Zurn Elkay Water Solutions Corp. | 34713 | 1769669  |
|  |  | 35062397  |

---

The accompanying notes are an integral part of these financial statements.

1<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Column Small Cap Select Fund** 

**Schedule of Investments** 

**February 28, 2026 (Unaudited)(Continued)** 

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value**  |
| **COMMON STOCKS — (Continued)** | **COMMON STOCKS — (Continued)** | **COMMON STOCKS — (Continued)** |
| **Capital Markets — 2.0%**<br>|  |  |
| &nbsp;&nbsp;&nbsp; Artisan Partners Asset Management, Inc. - <br>Class A | 176785 | $7120900  |
| BGC Group, Inc. - Class A | 1300561 | 12381341  |
| Hamilton Lane, Inc. - Class A | 6603 | 692919  |
| Houlihan Lokey, Inc. | 6844 | 1120842  |
| MarketAxess Holdings, Inc. | 14281 | 2741952  |
| Perella Weinberg Partners | 496586 | 9191807  |
| StoneX Group, Inc.<sup>(a)</sup> | 17441 | 2223727  |
|  |  | 35473488  |
| **Chemicals — 3.1%**<br>|  |  |
| Element Solutions, Inc. | 348513 | 12229321  |
| Hawkins, Inc. | 21165 | 3155701  |
| HB Fuller Co. | 43583 | 2864275  |
| Huntsman Corp. | 842606 | 10658966  |
| Ingevity Corp.<sup>(a)</sup> | 116026 | 8357353  |
|  International Flavors & Fragrances, Inc. | 51090 | 4201131  |
| Kronos Worldwide, Inc. | 1038503 | 6033702  |
| Sensient Technologies Corp. | 60370 | 6129366  |
|  |  | 53629815  |
| **Commercial Services & Supplies — 2.2%**<br>|  |  |
| Brady Corp. - Class A | 25166 | 2323828  |
| BrightView Holdings, Inc.<sup>(a)</sup> | 538526 | 7426274  |
|  Casella Waste Systems, Inc. - Class A<sup>(a)</sup> | 10567 | 984422  |
| Clean Harbors, Inc.<sup>(a)</sup> | 37511 | 10998225  |
| Enviri Corp.<sup>(a)</sup> | 426953 | 8082220  |
| OPENLANE, Inc.<sup>(a)</sup> | 241485 | 6884737  |
| Rollins, Inc. | 9621 | 585823  |
| Tetra Tech, Inc. | 42087 | 1508398  |
|  |  | 38793927  |
| **Communications Equipment — 1.8%**<br>|  |  |
| Applied Optoelectronics, Inc.<sup>(a)</sup> | 27435 | 2310850  |
| Ciena Corp.<sup>(a)</sup> | 14028 | 4891564  |
| Lumentum Holdings, Inc.<sup>(a)</sup> | 8624 | 6044648  |
| &nbsp;&nbsp;&nbsp; Ribbon Communications, <br>Inc.<sup>(a)</sup> | 890464 | 1985735  |
| Viasat, Inc.<sup>(a)</sup> | 359543 | 16459878  |
|  |  | 31692675  |
| **Construction & Engineering — 3.3%**<br>|  |  |
| Arcosa, Inc. | 70315 | 7557456  |
| Centuri Holdings, Inc.<sup>(a)</sup> | 43880 | 1360280  |
|  Construction Partners, Inc. - Class A<sup>(a)</sup> | 33184 | 4458934  |
| Dycom Industries, Inc.<sup>(a)</sup> | 7846 | 3295477  |
|  Everus Construction Group, Inc.<sup>(a)</sup> | 19719 | 2383436  |
| Legence Corp. - Class A<sup>(a)</sup> | 52234 | 3032184  |
| MYR Group, Inc.<sup>(a)</sup> | 32182 | 8687853  |
| Solv Energy, Inc. - Class A<sup>(a)</sup> | 72554 | 2286902  |
| Sterling Infrastructure, Inc.<sup>(a)</sup> | 9655 | 4133595  |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value**  |
| Tutor Perini Corp. | 139277 | $10497307  |
| Valmont Industries, Inc. | 21381 | 9833763  |
|  |  | 57527187  |
| **Construction Materials — 0.4%**<br>|  |  |
| Eagle Materials, Inc. | 25528 | 5713166  |
| Knife River Corp.<sup>(a)</sup> | 10962 | 975399  |
|  |  | 6688565  |
| **Consumer Finance — 0.6%**<br>|  |  |
| Bread Financial Holdings, Inc. | 26000 | 1842360  |
| FirstCash Holdings, Inc. | 35960 | 6932728  |
| LendingClub Corp.<sup>(a)</sup> | 128181 | 1911179  |
|  |  | 10686267  |
| **Containers & Packaging — 0.5%**<br>|  |  |
| AptarGroup, Inc. | 11103 | 1595612  |
| Avery Dennison Corp. | 29944 | 5879505  |
| Sealed Air Corp. | 45506 | 1905791  |
|  |  | 9380908  |
| **Diversified Consumer Services — 0.4%**<br>|  |  |
|  Bright Horizons Family Solutions, Inc.<sup>(a)</sup> | 15893 | 1184346  |
| Driven Brands Holdings, Inc.<sup>(a)</sup> | 461023 | 5071253  |
|  |  | 6255599  |
|  **Diversified Telecommunication Services — 0.2%**<br>|  |  |
| Lumen Technologies, Inc.<sup>(a)</sup> | 406075 | 2887193  |
| **Electric Utilities — 0.5%**<br>|  |  |
| IDACORP, Inc. | 14232 | 2048981  |
| Portland General Electric Co. | 112327 | 6061165  |
|  |  | 8110146  |
| **Electrical Equipment — 1.9%**<br>|  |  |
|  Babcock & Wilcox Enterprises, Inc.<sup>(a)</sup> | 351894 | 3117781  |
| &nbsp;&nbsp;&nbsp; Bloom Energy Corp. - <br>Class A<sup>(a)</sup> | 56111 | 8734799  |
| Eos Energy Enterprises, Inc.<sup>(a)</sup> | 458531 | 2611334  |
| &nbsp;&nbsp;&nbsp; Forgent Power Solutions, <br>Inc.<sup>(a)</sup> | 53207 | 1829789  |
| Nextpower, Inc. - Class A<sup>(a)</sup> | 39957 | 4199481  |
| Preformed Line Products Co. | 598 | 151683  |
| Regal Rexnord Corp. | 48029 | 10613448  |
| Vicor Corp.<sup>(a)</sup> | 10821 | 2179349  |
|  |  | 33437664  |
|  **Electronic Equipment, Instruments & Components — 4.2%**<br>|  |  |
| &nbsp;&nbsp;&nbsp; Advanced Energy Industries, <br>Inc. | 6923 | 2323151  |
| Badger Meter, Inc. | 3772 | 574966  |
| Coherent Corp.<sup>(a)</sup> | 34227 | 8862397  |
| Fabrinet<sup>(a)</sup> | 10060 | 5489038  |
| Innoviz Technologies Ltd.<sup>(a)</sup> | 224081 | 191119  |
| IPG Photonics Corp.<sup>(a)</sup> | 57376 | 7548960  |
| Itron, Inc.<sup>(a)</sup> | 35019 | 3290035  |

---

The accompanying notes are an integral part of these financial statements.

2<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Column Small Cap Select Fund** 

**Schedule of Investments** 

**February 28, 2026 (Unaudited)(Continued)** 

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value**  |
| **COMMON STOCKS — (Continued)**  | **COMMON STOCKS — (Continued)**  | **COMMON STOCKS — (Continued)**  |
| &nbsp;&nbsp;&nbsp; **Electronic Equipment, Instruments &** <br>**Components — (Continued)** | &nbsp;&nbsp;&nbsp; **Electronic Equipment, Instruments &** <br>**Components — (Continued)** | &nbsp;&nbsp;&nbsp; **Electronic Equipment, Instruments &** <br>**Components — (Continued)** |
| Knowles Corp.<sup>(a)</sup> | 64221 | $1744885  |
| Littelfuse, Inc. | 43020 | 15162829  |
| nLight, Inc.<sup>(a)</sup> | 96940 | 5447059  |
| OSI Systems, Inc.<sup>(a)</sup> | 28938 | 8253118  |
| Rogers Corp.<sup>(a)</sup> | 17327 | 1868370  |
| Sanmina Corp.<sup>(a)</sup> | 47900 | 7436954  |
| Teledyne Technologies, Inc.<sup>(a)</sup> | 7341 | 4999955  |
|  |  | 73192836  |
| **Energy Equipment & Services — 3.2%**<br>|  |  |
| Archrock, Inc. | 213995 | 7560443  |
| Innovex International, Inc.<sup>(a)</sup> | 77732 | 2048238  |
| Liberty Energy, Inc. | 316099 | 8879221  |
|  National Energy Services Reunited Corp.<sup>(a)</sup> | 256668 | 6429534  |
| Noble Corp. PLC | 80005 | 3634627  |
| &nbsp;&nbsp;&nbsp; Oceaneering International, <br>Inc.<sup>(a)</sup> | 34015 | 1207533  |
| Patterson-UTI Energy, Inc. | 167264 | 1423417  |
| &nbsp;&nbsp;&nbsp; Solaris Energy Infrastructure, <br>Inc. - Class A | 57019 | 2829853  |
| TechnipFMC PLC | 110678 | 7339058  |
| TETRA Technologies, Inc.<sup>(a)</sup> | 771400 | 6680324  |
| Tidewater, Inc.<sup>(a)</sup> | 34053 | 2704489  |
| Weatherford International PLC | 37518 | 3956648  |
|  |  | 54693385  |
| **Entertainment — 0.2%**<br>|  |  |
| Lionsgate Studios Corp.<sup>(a)</sup> | 386242 | 3476178  |
| Starz Entertainment Corp.<sup>(a)</sup> | 24782 | 272602  |
|  |  | 3748780  |
| **Financial Services — 0.1%**<br>|  |  |
| Jack Henry & Associates, Inc. | 11394 | 1851069  |
| &nbsp;&nbsp;&nbsp; Shift4 Payments, Inc. - <br>Class A<sup>(a)</sup> | 5808 | 255959  |
|  |  | 2107028  |
| **Food Products — 0.2%**<br>|  |  |
| Hain Celestial Group, Inc.<sup>(a)</sup> | 151888 | 121419  |
| Magnum Ice Cream Co. NV<sup>(a)</sup> | 181531 | 2880897  |
|  |  | 3002316  |
| **Gas Utilities — 1.5%**<br>|  |  |
| Atmos Energy Corp. | 31131 | 5814960  |
| Chesapeake Utilities Corp. | 11724 | 1594112  |
| National Fuel Gas Co. | 7870 | 716406  |
| New Jersey Resources Corp. | 103367 | 5606626  |
| &nbsp;&nbsp;&nbsp; Northwest Natural Holding <br>Co. | 88490 | 4693510  |
| Spire, Inc. | 57545 | 5271697  |
| UGI Corp. | 48211 | 1803574  |
|  |  | 25500885  |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value**  |
| **Ground Transportation — 1.9%**<br>|  |  |
|  Knight-Swift Transportation Holdings, Inc. | 55106 | $3467269  |
| Marten Transport Ltd. | 548322 | 7451696  |
| Proficient Auto Logistics, Inc.<sup>(a)</sup> | 741624 | 5614094  |
| RXO, Inc.<sup>(a)</sup> | 505998 | 8075728  |
| Saia, Inc.<sup>(a)</sup> | 14188 | 5751673  |
|  Schneider National, Inc. - Class B | 46615 | 1322934  |
| Werner Enterprises, Inc. | 57890 | 2031360  |
|  |  | 33714754  |
|  **Health Care Equipment & Supplies — 2.0%**<br>|  |  |
| Accuray, Inc.<sup>(a)</sup> | 380800 | 219912  |
| AtriCure, Inc.<sup>(a)</sup> | 59903 | 1872568  |
| CONMED Corp. | 20155 | 927130  |
| CytoSorbents Corp.<sup>(a)</sup> | 6741 | 5072  |
| DENTSPLY SIRONA, Inc. | 82171 | 1206270  |
| Glaukos Corp.<sup>(a)</sup> | 20845 | 2509738  |
| Haemonetics Corp.<sup>(a)</sup> | 119221 | 7549074  |
|  Integra LifeSciences Holdings Corp.<sup>(a)</sup> | 149228 | 1698215  |
| IRhythm Holdings, Inc.<sup>(a)</sup> | 12309 | 1646329  |
| LeMaitre Vascular, Inc. | 8357 | 904060  |
| Neogen Corp.<sup>(a)</sup> | 112316 | 1261309  |
| OraSure Technologies, Inc.<sup>(a)</sup> | 241034 | 759257  |
| QuidelOrtho Corp.<sup>(a)</sup> | 112686 | 2562480  |
| Teleflex, Inc. | 45205 | 5517722  |
| TransMedics Group, Inc.<sup>(a)</sup> | 20591 | 2991049  |
| UFP Technologies, Inc.<sup>(a)</sup> | 3439 | 724184  |
| Varex Imaging Corp.<sup>(a)</sup> | 136536 | 1798179  |
|  |  | 34152548  |
|  **Health Care Providers & Services — 1.8%**<br>|  |  |
| Acadia Healthcare Co., Inc.<sup>(a)</sup> | 198495 | 4652723  |
| &nbsp;&nbsp;&nbsp; AMN Healthcare Services, <br>Inc.<sup>(a)</sup> | 444312 | 8655198  |
| Chemed Corp. | 3677 | 1507607  |
| &nbsp;&nbsp;&nbsp; Cross Country Healthcare, <br>Inc.<sup>(a)</sup> | 645935 | 5619634  |
| Guardant Health, Inc.<sup>(a)</sup> | 56674 | 5321689  |
| Option Care Health, Inc.<sup>(a)</sup> | 164216 | 5330451  |
|  |  | 31087302  |
| **Hotels, Restaurants & Leisure — 1.6%**<br>|  |  |
| Brightstar Lottery PLC | 405105 | 5493224  |
| Brinker International, Inc.<sup>(a)</sup> | 15143 | 2244193  |
| Cava Group, Inc.<sup>(a)</sup> | 22484 | 1854255  |
| Churchill Downs, Inc. | 38700 | 3557691  |
|  Norwegian Cruise Line Holdings Ltd.<sup>(a)</sup> | 197505 | 4896149  |
| &nbsp;&nbsp;&nbsp; Red Rock Resorts, Inc. - <br>Class A | 46230 | 2799226  |
| Texas Roadhouse, Inc. | 10300 | 1883561  |

---

The accompanying notes are an integral part of these financial statements.

3<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Column Small Cap Select Fund** 

**Schedule of Investments** 

**February 28, 2026 (Unaudited)(Continued)** 

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value**  |
| **COMMON STOCKS — (Continued)**  | **COMMON STOCKS — (Continued)**  | **COMMON STOCKS — (Continued)**  |
| **Hotels, Restaurants & Leisure — (Continued)**  | **Hotels, Restaurants & Leisure — (Continued)**  | **Hotels, Restaurants & Leisure — (Continued)**  |
| Travel + Leisure Co. | 48116 | $3546149  |
| &nbsp;&nbsp;&nbsp; United Parks & Resorts, <br>Inc.<sup>(a)</sup> | 24124 | 839274  |
|  |  | 27113722  |
| **Household Durables — 2.2%**<br>|  |  |
| Installed Building Products, Inc. | 23246 | 7619109  |
| Meritage Homes Corp. | 47460 | 3579433  |
| Somnigroup International, Inc. | 57405 | 5138322  |
| Taylor Morrison Home Corp.<sup>(a)</sup> | 54915 | 3618350  |
| Tri Pointe Homes, Inc.<sup>(a)</sup> | 349004 | 16158885  |
| Whirlpool Corp. | 30124 | 2061385  |
|  |  | 38175484  |
|  **Independent Power and Renewable Electricity Producers — 0.8%**<br>|  |  |
| Ormat Technologies, Inc. | 106485 | 11042494  |
| Vistra Corp. | 14219 | 2472542  |
|  |  | 13515036  |
| **Insurance — 1.2%**<br>|  |  |
|  American Integrity Insurance Group, Inc.<sup>(a)</sup> | 474712 | 9665136  |
| AMERISAFE, Inc. | 17824 | 579815  |
| Hagerty, Inc. - Class A<sup>(a)</sup> | 77704 | 912245  |
| Hanover Insurance Group, Inc. | 12615 | 2278647  |
| Ryan Specialty Holdings, Inc. | 792 | 31165  |
| &nbsp;&nbsp;&nbsp; Selective Insurance Group, <br>Inc. | 30915 | 2598097  |
|  Stewart Information Services Corp. | 26312 | 1867889  |
|  White Mountains Insurance Group Ltd. | 1309 | 2906648  |
|  |  | 20839642  |
| **Interactive Media & Services — 0.6%**<br>|  |  |
| IAC, Inc.<sup>(a)</sup> | 278597 | 10675837  |
| **IT Services — 0.3%**<br>|  |  |
| Kyndryl Holdings, Inc.<sup>(a)</sup> | 247471 | 3051317  |
| Unisys Corp.<sup>(a)</sup> | 336850 | 818545  |
| Wix.com Ltd.<sup>(a)</sup> | 16786 | 1182742  |
|  |  | 5052604  |
| **Leisure Products — 0.2%**<br>|  |  |
| Acushnet Holdings Corp. | 4627 | 473481  |
| BRP, Inc. | 32667 | 2395634  |
|  |  | 2869115  |
| &nbsp;&nbsp;&nbsp; **Life Sciences Tools &** <br>**Services — 2.0%**<br>|  |  |
| Azenta, Inc.<sup>(a)</sup> | 43067 | 1161948  |
| Bio-Techne Corp. | 32641 | 1925819  |
|  Charles River Laboratories International, Inc.<sup>(a)</sup> | 11948 | 2132599  |
| Cytek Biosciences, Inc.<sup>(a)</sup> | 1743479 | 7810786  |
| ICON PLC<sup>(a)</sup> | 81623 | 8826711  |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value**  |
| Mesa Laboratories, Inc. | 69440 | $6705821  |
| Revvity, Inc. | 45500 | 4473105  |
| Standard BioTools, Inc.<sup>(a)</sup> | 304387 | 343957  |
| Stevanato Group SpA | 45145 | 700650  |
|  West Pharmaceutical Services, Inc. | 3462 | 880525  |
|  |  | 34961921  |
| **Machinery — 4.8%**<br>|  |  |
| Alamo Group, Inc. | 24310 | 5190914  |
|  Albany International Corp. - Class A | 20793 | 1198716  |
| &nbsp;&nbsp;&nbsp; Alliance Laundry Holdings, <br>Inc.<sup>(a)</sup> | 78577 | 1762482  |
|  Atmus Filtration Technologies, Inc. | 10182 | 657045  |
| Crane Co. | 21072 | 4225568  |
| Enerpac Tool Group Corp. | 43417 | 1771414  |
| Enpro, Inc. | 3745 | 968644  |
| Esab Corp. | 17192 | 2169115  |
| ESCO Technologies, Inc. | 17489 | 4849525  |
| Federal Signal Corp. | 33738 | 3928115  |
| Flowserve Corp. | 38205 | 3381907  |
| Gates Industrial Corp. PLC<sup>(a)</sup> | 84110 | 2318913  |
| Graco, Inc. | 12388 | 1163481  |
| Helios Technologies, Inc. | 42470 | 3028960  |
| Hillman Solutions Corp.<sup>(a)</sup> | 182470 | 1496254  |
| JBT Marel Corp. | 59120 | 9104480  |
| Kadant, Inc. | 4183 | 1418748  |
| Lincoln Electric Holdings, Inc. | 17875 | 5131019  |
| Lindsay Corp. | 10264 | 1382561  |
| Miller Industries, Inc. | 11144 | 468382  |
| Mueller Industries, Inc. | 53770 | 6342709  |
| RBC Bearings, Inc.<sup>(a)</sup> | 4983 | 2869809  |
| SPX Technologies, Inc.<sup>(a)</sup> | 32347 | 7340828  |
| Standex International Corp. | 8795 | 2304290  |
| Stratasys Ltd.<sup>(a)</sup> | 300610 | 2894874  |
| Terex Corp. | 36683 | 2523424  |
| Toro Co. | 18568 | 1835633  |
|  Watts Water Technologies, Inc. - Class A | 2370 | 779114  |
|  |  | 82506924  |
| **Marine Transportation — 0.9%**<br>|  |  |
| Kirby Corp.<sup>(a)</sup> | 20436 | 2652593  |
| Star Bulk Carriers Corp. | 470128 | 12359665  |
|  |  | 15012258  |
| **Media — 0.4%**<br>|  |  |
| Criteo SA - ADR<sup>(a)</sup> | 226727 | 4051611  |
|  John Wiley & Sons, Inc. - Class A | 31975 | 991865  |
| Nexstar Media Group, Inc. | 9634 | 2418327  |
|  |  | 7461803  |
| **Metals & Mining — 1.9%**<br>|  |  |
| Alcoa Corp. | 31109 | 1931247  |
| Century Aluminum Co.<sup>(a)</sup> | 99208 | 5115164  |

---

The accompanying notes are an integral part of these financial statements.

4<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Column Small Cap Select Fund** 

**Schedule of Investments** 

**February 28, 2026 (Unaudited)(Continued)** 

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value**  |
| **COMMON STOCKS — (Continued)**  | **COMMON STOCKS — (Continued)**  | **COMMON STOCKS — (Continued)**  |
| **Metals & Mining — (Continued)**  | **Metals & Mining — (Continued)**  | **Metals & Mining — (Continued)**  |
| Cleveland-Cliffs, Inc.<sup>(a)</sup> | 325245 | $3467112  |
| Commercial Metals Co. | 78735 | 5771276  |
| Hudbay Minerals, Inc. | 77046 | 2182713  |
| MP Materials Corp.<sup>(a)</sup> | 38248 | 2251660  |
| Pan American Silver Corp. | 59053 | 4056941  |
| thyssenkrupp AG | 639688 | 7974935  |
|  |  | 32751048  |
| **Multi-Utilities — 0.4%**<br>|  |  |
| &nbsp;&nbsp;&nbsp; Northwestern Energy Group, <br>Inc. | 89094 | 6233016  |
| **Oil, Gas & Consumable Fuels — 4.0%**<br>|  |  |
| Antero Resources Corp.<sup>(a)</sup> | 101215 | 3725724  |
| BKV Corp.<sup>(a)</sup> | 705401 | 22100213  |
| Cameco Corp. | 35084 | 4153946  |
| CNX Resources Corp.<sup>(a)</sup> | 163489 | 6830570  |
| Devon Energy Corp. | 98152 | 4272557  |
| Matador Resources Co. | 70795 | 3638863  |
| Murphy Oil Corp. | 118210 | 3918661  |
| Permian Resources Corp. | 217780 | 3983196  |
| Scorpio Tankers, Inc. | 122183 | 9662232  |
| Uranium Energy Corp.<sup>(a)</sup> | 337990 | 5181387  |
| Viper Energy, Inc. - Class A | 39328 | 1830325  |
|  |  | 69297674  |
| **Pharmaceuticals — 2.7%**<br>|  |  |
| &nbsp;&nbsp;&nbsp; Amneal Pharmaceuticals, <br>Inc.<sup>(a)</sup> | 255584 | 3529615  |
| Axsome Therapeutics, Inc.<sup>(a)</sup> | 16262 | 2665179  |
| &nbsp;&nbsp;&nbsp; Crinetics Pharmaceuticals, <br>Inc.<sup>(a)</sup> | 159056 | 6537201  |
| Definium Therapeutics, Inc.<sup>(a)</sup> | 136454 | 2381122  |
| Edgewise Therapeutics, Inc.<sup>(a)</sup> | 133074 | 4050772  |
| &nbsp;&nbsp;&nbsp; Indivior Pharmaceuticals, <br>Inc.<sup>(a)</sup> | 57869 | 1893474  |
| Innoviva, Inc.<sup>(a)</sup> | 604159 | 13871491  |
| Septerna, Inc.<sup>(a)</sup> | 110886 | 3217912  |
|  Structure Therapeutics, Inc. - ADR<sup>(a)</sup> | 36453 | 2295810  |
| &nbsp;&nbsp;&nbsp; Tarsus Pharmaceuticals, <br>Inc.<sup>(a)</sup> | 42713 | 3225686  |
| WaVe Life Sciences Ltd.<sup>(a)</sup> | 201259 | 2803538  |
|  |  | 46471800  |
| **Professional Services — 2.0%**<br>|  |  |
| Alight, Inc. - Class A | 475432 | 418237  |
| Conduent, Inc.<sup>(a)</sup> | 782371 | 1142262  |
| CRA International, Inc. | 4219 | 728453  |
| Exponent, Inc. | 13569 | 987552  |
| FTI Consulting, Inc.<sup>(a)</sup> | 32865 | 5403663  |
| KBR, Inc. | 167742 | 7083745  |
| Maximus, Inc. | 81087 | 6130988  |
| Planet Labs PBC<sup>(a)</sup> | 261606 | 6315169  |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value**  |
| TrueBlue, Inc.<sup>(a)</sup> | 763832 | $3231009  |
| UL Solutions, Inc. | 31361 | 2633383  |
|  |  | 34074461  |
|  **Real Estate Management & Development — 0.7%**<br>|  |  |
| &nbsp;&nbsp;&nbsp; Colliers International Group, <br>Inc. | 11596 | 1376793  |
| Compass, Inc. - Class A<sup>(a)</sup> | 177011 | 1725857  |
| Cushman & Wakefield Ltd.<sup>(a)</sup> | 569730 | 7640080  |
| FirstService Corp. | 12618 | 1988218  |
|  |  | 12730948  |
|  **Semiconductors & Semiconductor Equipment — 6.0%**<br>|  |  |
| Camtek Ltd.<sup>(a)</sup> | 20889 | 3496610  |
| CEVA, Inc.<sup>(a)</sup> | 74417 | 1552339  |
| Impinj, Inc.<sup>(a)</sup> | 14382 | 1764096  |
|  indie Semiconductor, Inc. - Class A<sup>(a)</sup> | 438522 | 1604991  |
| Lattice Semiconductor Corp.<sup>(a)</sup> | 26860 | 2568353  |
|  MACOM Technology Solutions Holdings, Inc.<sup>(a)</sup> | 43724 | 10848799  |
| MKS, Inc. | 11481 | 2806645  |
| Onto Innovation, Inc.<sup>(a)</sup> | 55211 | 11919503  |
| Power Integrations, Inc. | 42557 | 2039331  |
| Rambus, Inc.<sup>(a)</sup> | 98857 | 9852089  |
| Semtech Corp.<sup>(a)</sup> | 87408 | 7885950  |
|  Silicon Motion Technology Corp. - ADR | 101069 | 13061147  |
| SiTime Corp.<sup>(a)</sup> | 13246 | 5270318  |
| Tower Semiconductor Ltd.<sup>(a)</sup> | 13446 | 1679002  |
| Ultra Clean Holdings, Inc.<sup>(a)</sup> | 333149 | 20215481  |
| Veeco Instruments, Inc.<sup>(a)</sup> | 239913 | 7331741  |
|  |  | 103896395  |
| **Software — 4.5%**<br>|  |  |
| 8x8, Inc.<sup>(a)</sup> | 2362848 | 5056495  |
| Adeia, Inc. | 209863 | 4342065  |
| BlackLine, Inc.<sup>(a)</sup> | 22785 | 803171  |
|  CCC Intelligent Solutions Holdings, Inc.<sup>(a)</sup> | 135704 | 791154  |
| Cipher Digital, Inc.<sup>(a)</sup> | 100462 | 1567207  |
| Cognyte Software Ltd.<sup>(a)</sup> | 373191 | 2645924  |
| Commvault Systems, Inc.<sup>(a)</sup> | 5837 | 496612  |
| &nbsp;&nbsp;&nbsp; Computer Modelling Group <br>Ltd. | 29973 | 90219  |
| Fair Isaac Corp.<sup>(a)</sup> | 542 | 763873  |
| InterDigital, Inc. | 16681 | 6114087  |
| LiveRamp Holdings, Inc.<sup>(a)</sup> | 56005 | 1521656  |
| Manhattan Associates, Inc.<sup>(a)</sup> | 10096 | 1367301  |
| NCR Voyix Corp.<sup>(a)</sup> | 1151045 | 8793984  |
| OneSpan, Inc. | 103078 | 1137981  |
| Pegasystems, Inc. | 177515 | 7762731  |
| Qualys, Inc.<sup>(a)</sup> | 5331 | 492957  |
| Radware Ltd.<sup>(a)</sup> | 108300 | 2507145  |
| SPS Commerce, Inc.<sup>(a)</sup> | 14923 | 843299  |

---

The accompanying notes are an integral part of these financial statements.

5<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Column Small Cap Select Fund** 

**Schedule of Investments** 

**February 28, 2026 (Unaudited)(Continued)** 

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value**  |
| **COMMON STOCKS — (Continued)**  | **COMMON STOCKS — (Continued)**  | **COMMON STOCKS — (Continued)**  |
| **Software — (Continued)**  | **Software — (Continued)**  | **Software — (Continued)**  |
| Teradata Corp.<sup>(a)</sup> | 694869 | $21881425  |
| Terawulf, Inc.<sup>(a)</sup> | 139710 | 2266096  |
| Tyler Technologies, Inc.<sup>(a)</sup> | 2794 | 991004  |
| UiPath, Inc. - Class A<sup>(a)</sup> | 160820 | 1725599  |
| Varonis Systems, Inc.<sup>(a)</sup> | 145541 | 3361997  |
| Xperi, Inc.<sup>(a)</sup> | 166089 | 1018126  |
|  |  | 78342108  |
| **Specialized REITs — 0.0%<sup>(b)</sup>**<br>|  |  |
| Fermi, Inc.<sup>(a)</sup> | 81250 | 810063  |
| **Specialty Retail — 3.2%**<br>|  |  |
|  Academy Sports & Outdoors, Inc. | 87367 | 5253378  |
| &nbsp;&nbsp;&nbsp; Asbury Automotive Group, <br>Inc.<sup>(a)</sup> | 3920 | 838018  |
| Bath & Body Works, Inc. | 179715 | 4090313  |
| Boot Barn Holdings, Inc.<sup>(a)</sup> | 9366 | 1772234  |
| Caleres, Inc. | 78402 | 932200  |
|  Floor & Decor Holdings, Inc. - Class A<sup>(a)</sup> | 10362 | 715910  |
| Murphy USA, Inc. | 1683 | 657615  |
| &nbsp;&nbsp;&nbsp; National Vision Holdings, <br>Inc.<sup>(a)</sup> | 723977 | 19525660  |
| RealReal, Inc.<sup>(a)</sup> | 142343 | 1745125  |
| Tractor Supply Co. | 21808 | 1130527  |
| Valvoline, Inc.<sup>(a)</sup> | 245486 | 9279371  |
| Victoria's Secret & Co.<sup>(a)</sup> | 45526 | 2854480  |
| Warby Parker, Inc. - Class A<sup>(a)</sup> | 192390 | 4811674  |
| Winmark Corp. | 3070 | 1400657  |
|  |  | 55007162  |
|  **Textiles, Apparel & Luxury Goods — 0.1%**<br>|  |  |
| Under Armour, Inc. - Class C<sup>(a)</sup> | 240269 | 1737145  |
| **Tobacco — 0.3%**<br>|  |  |
| Turning Point Brands, Inc. | 35296 | 4835199  |
|  **Trading Companies & Distributors — 2.3%**<br>|  |  |
| AerCap Holdings NV | 60962 | 9110161  |
|  Custom Truck One Source, Inc.<sup>(a)</sup> | 651995 | 4668284  |
|  EquipmentShare.com, Inc. - Class A<sup>(a)</sup> | 57079 | 1656433  |
| GATX Corp. | 39295 | 7236960  |
| Rush Enterprises, Inc. - Class A | 42480 | 3014806  |
|  SiteOne Landscape Supply, Inc.<sup>(a)</sup> | 25841 | 3692421  |
| Transcat, Inc.<sup>(a)</sup> | 8073 | 629452  |
| Watsco, Inc. | 2376 | 991576  |
| WESCO International, Inc. | 24350 | 7049325  |
| Xometry, Inc. - Class A<sup>(a)</sup> | 54096 | 2218747  |
|  |  | 40268165  |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value**  |
| **Water Utilities — 0.2%**<br>|  |  |
| American States Water Co. | 26360 | $1964611  |
| Middlesex Water Co. | 16585 | 895590  |
|  |  | 2860201  |
| &nbsp;&nbsp;&nbsp; **TOTAL COMMON STOCKS** <br>**(Cost $1,306,735,162)** |  | 1622419930  |
|  **REAL ESTATE INVESTMENT TRUSTS — 1.1%**<br>|  |  |
| **Diversified REITs — 0.8%**<br>|  |  |
| Broadstone Net Lease, Inc. | 686060 | 13302703  |
| **Specialized REITs — 0.3%**<br>|  |  |
| National Storage Affiliates Trust | 155326 | 5439517  |
| &nbsp;&nbsp;&nbsp; **TOTAL REAL ESTATE INVESTMENT TRUSTS** <br>**(Cost $16,675,354)** |  | 18742220  |
| **EXCHANGE TRADED FUNDS — 0.9%**<br>|  |  |
| &nbsp;&nbsp;&nbsp; iShares Russell 2000 Value <br>ETF | 81662 | 16132328  |
| &nbsp;&nbsp;&nbsp; **TOTAL EXCHANGE TRADED FUNDS** <br>**(Cost $13,453,740)** |  | 16132328 |

---

---

| | | |
|:---|:---|:---|
|  | **Contracts** |  |
| **RIGHTS — 0.0%<sup>(b)</sup>**<br>|  |  |
| **Capital Markets — 0.0%<sup>(b)</sup>**<br>|  |  |
| &nbsp;&nbsp;&nbsp; InvestIndustrial Advisor - CVR,<br>Expires 2/10/2027<sup>(a)(c)</sup> | 75481 | 132092  |
| &nbsp;&nbsp;&nbsp; **TOTAL RIGHTS** <br>**(Cost $0)** |  | 132092 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** |  |
| **SHORT-TERM INVESTMENTS** | **SHORT-TERM INVESTMENTS** | **SHORT-TERM INVESTMENTS** |
| **MONEY MARKET FUNDS — 3.8%**<br>|  |  |
|  First American Government Obligations Fund - Class X, 3.60%<sup>(d)</sup> | 66007418 | 66007418  |
| &nbsp;&nbsp;&nbsp; **TOTAL MONEY MARKET FUNDS** <br>**(Cost $66,007,418)** |  | 66007418  |
| &nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS — 99.5%** <br>**(Cost $1,402,871,674)** |  | $1723433988  |
|  Other Assets in Excess of Liabilities — 0.5% |  | 7982262  |
| &nbsp;&nbsp;&nbsp; **TOTAL NET** <br>**ASSETS — 100.0%** |  | $1731416250 |

---

Percentages are stated as a percent of net assets.

ADR - American Depositary Receipt

PLC - Public Limited Company

REIT - Real Estate Investment Trust

The accompanying notes are an integral part of these financial statements.

6<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Column Small Cap Select Fund** 

**Schedule of Investments** 

**February 28, 2026 (Unaudited)(Continued)** 

The Global Industry Classification Standard ("GICS<sup>®</sup>") was developed by and/or is the exclusive property of MSCI, Inc. ("MSCI") and Standard & Poor's Financial Services LLC ("S&P"). GICS<sup>®</sup> is a service mark of MSCI and S&P and has been licensed for use by the Adviser.

<sup>(a)</sup> Non-income producing security.

<sup>(b)</sup> Represents less than 0.05% of net assets.

<sup>(c)</sup> Fair value determined using significant unobservable inputs in accordance with procedures established by and under the supervision of the Adviser, acting as Valuation Designee. These securities represented $132,092 or 0.0% of net assets as of February 28, 2026.

<sup>(d)</sup> The rate shown represents the 7-day annualized yield as of February 28, 2026.

The accompanying notes are an integral part of these financial statements.

7<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**COLUMN SMALL CAP FUND** 

**SCHEDULE OF INVESTMENTS** 

**February 28, 2026 (Unaudited)** 

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value**  |
| **COMMON STOCKS — 94.8%**<br>|  |  |
| **Aerospace & Defense — 2.9%**<br>|  |  |
| AAR Corp.<sup>(a)</sup> | 9240 | $1082651  |
| AerSale Corp.<sup>(a)</sup> | 1866 | 14555  |
| Astronics Corp.<sup>(a)</sup> | 14728 | 1187371  |
| ATI, Inc.<sup>(a)</sup> | 16435 | 2688602  |
| &nbsp;&nbsp;&nbsp; Babcock International Group <br>PLC | 40479 | 738169  |
| Carpenter Technology Corp. | 2836 | 1128926  |
| Ducommun, Inc.<sup>(a)</sup> | 640 | 79098  |
| Hexcel Corp. | 23463 | 2174785  |
| Huntington Ingalls Industries, Inc. | 3535 | 1571378  |
| Karman Holdings, Inc.<sup>(a)</sup> | 7364 | 648842  |
| Melrose Industries PLC | 20611 | 158027  |
| Mercury Systems, Inc.<sup>(a)</sup> | 10281 | 915317  |
| QinetiQ Group PLC | 202763 | 1375681  |
| Senior PLC | 263686 | 1092503  |
| VSE Corp. | 1054 | 239332  |
|  |  | 15095237  |
| **Air Freight & Logistics — 0.4%**<br>|  |  |
| GXO Logistics, Inc.<sup>(a)</sup> | 23170 | 1455771  |
| Hub Group, Inc. - Class A | 15780 | 679645  |
|  |  | 2135416  |
| **Automobile Components — 0.8%**<br>|  |  |
| Dana, Inc. | 16556 | 566877  |
| Dauch Corp.<sup>(a)</sup> | 13181 | 86995  |
| Fox Factory Holding Corp.<sup>(a)</sup> | 13065 | 220015  |
| Gentex Corp. | 16277 | 380882  |
| Gentherm, Inc.<sup>(a)</sup> | 2753 | 90216  |
| Goodyear Tire & Rubber Co.<sup>(a)</sup> | 28326 | 233689  |
| LCI Industries | 2614 | 348185  |
| Lear Corp. | 10856 | 1424850  |
| Motorcar Parts of America, Inc.<sup>(a)</sup> | 1574 | 16275  |
| Phinia, Inc. | 4779 | 347099  |
| Stoneridge, Inc.<sup>(a)</sup> | 2330 | 18384  |
| Strattec Security Corp.<sup>(a)</sup> | 159 | 13992  |
| Visteon Corp. | 3411 | 326330  |
|  |  | 4073789  |
| **Automobiles — 0.0%<sup>(b)</sup>**<br>|  |  |
| Harley-Davidson, Inc. | 12570 | 226260  |
| **Banks — 10.5%**<br>|  |  |
| 1st Source Corp. | 1006 | 67412  |
| ACNB Corp. | 386 | 19454  |
| Amalgamated Financial Corp. | 1815 | 69859  |
| Ameris Bancorp | 18536 | 1439506  |
| Arrow Financial Corp. | 1187 | 39539  |
| Associated Banc-Corp. | 7891 | 208401  |
| Atlantic Union Bankshares Corp. | 31046 | 1150565  |
| Axos Financial, Inc.<sup>(a)</sup> | 5499 | 477423  |
| Banc of California, Inc. | 42089 | 777384  |
| BancFirst Corp. | 25 | 2750  |
| Bancorp, Inc.<sup>(a)</sup> | 15377 | 807139  |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value**  |
| Bank of Hawaii Corp. | 2953 | $223749  |
| Bank of NT Butterfield & Son Ltd. | 4322 | 219342  |
| Bank OZK | 8054 | 374994  |
| BankUnited, Inc. | 6167 | 287999  |
| Banner Corp. | 2340 | 137709  |
| Bar Harbor Bankshares | 953 | 30744  |
| BayCom Corp. | 438 | 12877  |
| Bridgewater Bancshares, Inc.<sup>(a)</sup> | 765 | 13984  |
|  Burke & Herbert Financial Services Corp. | 1201 | 77392  |
| Business First Bancshares, Inc. | 1960 | 53508  |
| Byline Bancorp, Inc. | 2079 | 64865  |
| C&F Financial Corp. | 123 | 8957  |
| California BanCorp | 700 | 12817  |
| Camden National Corp. | 13137 | 606404  |
| Capital Bancorp, Inc. | 382 | 11235  |
| Capital City Bank Group, Inc. | 856 | 36675  |
| Carter Bankshares, Inc.<sup>(a)</sup> | 1424 | 29676  |
| Cathay General Bancorp | 4726 | 234930  |
| Central BanCo, Inc. | 9378 | 226479  |
| Central Pacific Financial Corp. | 1922 | 61216  |
| &nbsp;&nbsp;&nbsp; ChoiceOne Financial Services, <br>Inc. | 17 | 487  |
| City Holding Co. | 20 | 2399  |
| CNB Financial Corp. | 1526 | 42743  |
| Coastal Financial Corp.<sup>(a)</sup> | 4615 | 342387  |
| Colony Bankcorp, Inc. | 628 | 12453  |
| Columbia Banking System, Inc. | 105196 | 2992826  |
| &nbsp;&nbsp;&nbsp; Community Financial System, <br>Inc. | 6162 | 373109  |
| Community Trust Bancorp, Inc. | 1100 | 66044  |
| Community West Bancshares | 522 | 12126  |
| ConnectOne Bancorp, Inc. | 2936 | 77892  |
| Cullen/Frost Bankers, Inc. | 8709 | 1203758  |
| Customers Bancorp, Inc.<sup>(a)</sup> | 2735 | 184448  |
| &nbsp;&nbsp;&nbsp; Dime Community Bancshares, <br>Inc. | 2761 | 89318  |
| Eagle Bancorp, Inc. | 1319 | 33569  |
|  Enterprise Financial Services Corp. | 25509 | 1456564  |
| Equity Bancshares, Inc. - Class A | 288 | 12925  |
| Esquire Financial Holdings, Inc. | 481 | 48571  |
| Fidelity D&D Bancorp, Inc. | 193 | 8463  |
| First Bancorp | 17248 | 979514  |
| First BanCorp | 51593 | 1090160  |
| First Bank | 1610 | 25631  |
| First Busey Corp. | 5624 | 142625  |
|  First Business Financial Services, Inc. | 559 | 30549  |
|  First Commonwealth Financial Corp. | 38908 | 682057  |
| First Financial Bancorp | 34625 | 971924  |
| First Financial Bankshares, Inc. | 6598 | 204076  |
| First Financial Corp. | 764 | 48407  |
|  First Interstate BancSystem, Inc. - Class A | 17778 | 615297  |

---

The accompanying notes are an integral part of these financial statements.

8<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**COLUMN SMALL CAP FUND** 

**SCHEDULE OF INVESTMENTS** 

**February 28, 2026 (Unaudited)(Continued)** 

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value**  |
| **COMMON STOCKS — (Continued)**  | **COMMON STOCKS — (Continued)**  | **COMMON STOCKS — (Continued)**  |
| **Banks — (Continued)**  | **Banks — (Continued)**  | **Banks — (Continued)**  |
| First Merchants Corp. | 1718 | $67139  |
| First Mid Bancshares, Inc. | 1408 | 57742  |
| Firstsun Capital Bancorp<sup>(a)</sup> | 307 | 11196  |
| Five Star Bancorp | 480 | 18686  |
| FS Bancorp, Inc. | 253 | 9996  |
| Fulton Financial Corp. | 15073 | 308243  |
| German American Bancorp, Inc. | 17281 | 714397  |
| Glacier Bancorp, Inc. | 32954 | 1499078  |
| Great Southern Bancorp, Inc. | 702 | 43194  |
| Hancock Whitney Corp. | 6247 | 411115  |
| Hanmi Financial Corp. | 2235 | 58356  |
| HBT Financial, Inc. | 457 | 12321  |
| Heritage Commerce Corp. | 4001 | 49732  |
| Home Bancorp, Inc. | 19 | 1123  |
| HomeTrust Bancshares, Inc. | 999 | 42098  |
| Hope Bancorp, Inc. | 7690 | 86589  |
| Huntington Bancshares, Inc. | 73748 | 1238966  |
| Independent Bank Corp. | 1675 | 58206  |
| International Bancshares Corp. | 4832 | 324276  |
| Investar Holding Corp. | 200 | 5646  |
| Kearny Financial Corp. | 76 | 581  |
| Lakeland Financial Corp. | 3740 | 217257  |
| Mechanics Bancorp - Class A | 24 | 342  |
| Mercantile Bank Corp. | 1209 | 62457  |
| Metrocity Bankshares, Inc. | 1332 | 37429  |
| Metropolitan Bank Holding Corp. | 933 | 78512  |
| Mid Penn Bancorp, Inc. | 976 | 31398  |
| Midland States Bancorp, Inc. | 1681 | 37201  |
| MVB Financial Corp. | 672 | 18144  |
|  National Bank Holdings Corp. - Class A | 22894 | 915531  |
| National Bankshares, Inc. | 209 | 7848  |
| NB Bancorp, Inc. | 922 | 19676  |
| Nicolet Bankshares, Inc. | 434 | 66301  |
| Northeast Bank | 589 | 65308  |
| Northfield Bancorp, Inc. | 2447 | 32643  |
| Northpointe Bancshares, Inc. | 2093 | 37800  |
| Northrim BanCorp, Inc. | 1712 | 40215  |
| OceanFirst Financial Corp. | 3769 | 68068  |
| OFG Bancorp | 3977 | 159398  |
| Old National Bancorp | 34200 | 790020  |
| Old Second Bancorp, Inc. | 3680 | 72238  |
| Orange County Bancorp, Inc. | 356 | 11823  |
| Origin Bancorp, Inc. | 1997 | 83075  |
| Orrstown Financial Services, Inc. | 1540 | 55348  |
| Pathward Financial, Inc. | 1834 | 166509  |
|  Peapack-Gladstone Financial Corp. | 1094 | 36638  |
| Peoples Bancorp, Inc. | 7091 | 228827  |
| Peoples Financial Services Corp. | 196 | 10506  |
| Pinnacle Financial Partners, Inc. | 2084 | 189144  |
| Popular, Inc. | 2430 | 328925  |
| Preferred Bank | 1174 | 102983  |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value**  |
| Prosperity Bancshares, Inc. | 35880 | $2524876  |
| Provident Financial Services, Inc. | 10399 | 218795  |
| QCR Holdings, Inc. | 1174 | 101551  |
| RBB Bancorp | 1252 | 26918  |
| Red River Bancshares, Inc. | 162 | 14369  |
| Republic Bancorp, Inc. - Class A | 721 | 49749  |
| S&T Bancorp, Inc. | 2499 | 104483  |
| &nbsp;&nbsp;&nbsp; Seacoast Banking Corp. of <br>Florida | 20800 | 647296  |
| ServisFirst Bancshares, Inc. | 51679 | 4186516  |
| Shore Bancshares, Inc. | 2487 | 46208  |
| Sierra Bancorp | 300 | 10794  |
| SmartFinancial, Inc. | 996 | 39053  |
| South Plains Financial, Inc. | 1102 | 45138  |
| Southern First Bancshares, Inc.<sup>(a)</sup> | 504 | 28143  |
| Southern Missouri Bancorp, Inc. | 616 | 38137  |
| Southside Bancshares, Inc. | 40 | 1253  |
| SouthState Bank Corp. | 33792 | 3334257  |
| Stock Yards Bancorp, Inc. | 1838 | 117889  |
| Texas Capital Bancshares, Inc.<sup>(a)</sup> | 13004 | 1239281  |
| Third Coast Bancshares, Inc.<sup>(a)</sup> | 838 | 33193  |
| Timberland Bancorp, Inc. | 279 | 10624  |
| Tompkins Financial Corp. | 607 | 46563  |
| TriCo Bancshares | 17084 | 816274  |
| Triumph Financial, Inc.<sup>(a)</sup> | 56098 | 3133634  |
| TrustCo Bank Corp. NY | 1255 | 54429  |
| Trustmark Corp. | 2285 | 97318  |
| UMB Financial Corp. | 10904 | 1263556  |
| United Bankshares, Inc. | 21345 | 881549  |
| United Community Banks, Inc. | 33996 | 1093651  |
| Unity Bancorp, Inc. | 644 | 34254  |
| Univest Financial Corp. | 1879 | 63040  |
| Valley National Bancorp | 30607 | 385954  |
| &nbsp;&nbsp;&nbsp; Virginia National Bankshares <br>Corp. | 59 | 2285  |
| WaFd, Inc. | 5736 | 178734  |
| Washington Trust Bancorp, Inc. | 5864 | 197558  |
| Webster Financial Corp. | 9321 | 672324  |
| WesBanco, Inc. | 34049 | 1187289  |
| West BanCorp, Inc. | 973 | 23693  |
| Westamerica BanCorp | 2142 | 108492  |
| Wintrust Financial Corp. | 4475 | 644669  |
| WSFS Financial Corp. | 32193 | 2044577  |
| Zions Bancorp NA | 130 | 7446  |
|  |  | 54281362  |
| **Beverages — 0.4%**<br>|  |  |
| Boston Beer Co., Inc. - Class A<sup>(a)</sup> | 754 | 170992  |
| Coca-Cola Consolidated, Inc. | 10545 | 2134308  |
| MGP Ingredients, Inc. | 326 | 6194  |
|  |  | 2311494  |
| **Biotechnology — 2.6%**<br>|  |  |
| ADMA Biologics, Inc.<sup>(a)</sup> | 47312 | 736648  |
| Alkermes PLC<sup>(a)</sup> | 33380 | 1004738  |
| Anika Therapeutics, Inc.<sup>(a)</sup> | 348 | 4997  |

---

The accompanying notes are an integral part of these financial statements.

9<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**COLUMN SMALL CAP FUND** 

**SCHEDULE OF INVESTMENTS** 

**February 28, 2026 (Unaudited)(Continued)** 

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value**  |
| **COMMON STOCKS — (Continued)**  | **COMMON STOCKS — (Continued)**  | **COMMON STOCKS — (Continued)**  |
| **Biotechnology — (Continued)** | **Biotechnology — (Continued)** | **Biotechnology — (Continued)** |
| Arcellx, Inc.<sup>(a)</sup> | 4541 | $516720  |
| Arcutis Biotherapeutics, Inc.<sup>(a)</sup> | 17310 | 466851  |
| Bridgebio Pharma, Inc.<sup>(a)</sup> | 12367 | 822158  |
| Catalyst Pharmaceuticals, Inc.<sup>(a)</sup> | 10161 | 234516  |
| Celldex Therapeutics, Inc.<sup>(a)</sup> | 8349 | 251221  |
|  Centessa Pharmaceuticals PLC - ADR<sup>(a)</sup> | 14054 | 377490  |
| Cogent Biosciences, Inc.<sup>(a)</sup> | 10583 | 411150  |
| Cytokinetics, Inc.<sup>(a)</sup> | 5265 | 327588  |
| Emergent BioSolutions, Inc.<sup>(a)</sup> | 8944 | 72894  |
| Evommune, Inc.<sup>(a)</sup> | 6194 | 161044  |
| Halozyme Therapeutics, Inc.<sup>(a)</sup> | 6750 | 469327  |
| Ionis Pharmaceuticals, Inc.<sup>(a)</sup> | 4974 | 403640  |
| Madrigal Pharmaceuticals, Inc.<sup>(a)</sup> | 2037 | 879984  |
| Mineralys Therapeutics, Inc.<sup>(a)</sup> | 11141 | 325986  |
| Monte Rosa Therapeutics, Inc.<sup>(a)</sup> | 9388 | 166637  |
| &nbsp;&nbsp;&nbsp; Newamsterdam Pharma <br>Co. NV<sup>(a)</sup> | 4484 | 159003  |
| Nuvalent, Inc. - Class A<sup>(a)</sup> | 4541 | 462955  |
| &nbsp;&nbsp;&nbsp; Praxis Precision Medicines, <br>Inc.<sup>(a)</sup> | 1319 | 444173  |
| Protagonist Therapeutics, Inc.<sup>(a)</sup> | 6365 | 586089  |
| PTC Therapeutics, Inc.<sup>(a)</sup> | 16314 | 1112452  |
| Puma Biotechnology, Inc.<sup>(a)</sup> | 5047 | 28768  |
| Revolution Medicines, Inc.<sup>(a)</sup> | 5356 | 546419  |
| Rigel Pharmaceuticals, Inc.<sup>(a)</sup> | 2360 | 81986  |
| Scholar Rock Holding Corp.<sup>(a)</sup> | 8474 | 375144  |
| Seres Therapeutics, Inc.<sup>(a)</sup> | 313 | 2736  |
| Twist Bioscience Corp.<sup>(a)</sup> | 6489 | 304464  |
| UroGen Pharma Ltd.<sup>(a)</sup> | 14607 | 316972  |
| Vaxcyte, Inc.<sup>(a)</sup> | 4000 | 246960  |
| Vera Therapeutics, Inc.<sup>(a)</sup> | 8819 | 359727  |
| Viking Therapeutics, Inc.<sup>(a)</sup> | 3752 | 126968  |
| Xenon Pharmaceuticals, Inc.<sup>(a)</sup> | 8313 | 359371  |
|  |  | 13147776  |
| **Broadline Retail — 0.7%**<br>|  |  |
| Dillard's, Inc. - Class A | 6 | 3617  |
| Kohl's Corp. | 14506 | 237463  |
| Macy's, Inc. | 31054 | 614248  |
|  Ollie's Bargain Outlet Holdings, Inc.<sup>(a)</sup> | 25808 | 2764037  |
|  |  | 3619365  |
| **Building Products — 2.7%**<br>|  |  |
| AAON, Inc. | 34885 | 3530362  |
| American Woodmark Corp.<sup>(a)</sup> | 4908 | 245891  |
| Apogee Enterprises, Inc. | 2374 | 94533  |
| Armstrong World Industries, Inc. | 1520 | 263720  |
| Carlisle Cos., Inc. | 4620 | 1823837  |
| CSW Industrials, Inc. | 3225 | 949214  |
| Fortune Brands Innovations, Inc. | 10883 | 591382  |
| Hayward Holdings, Inc.<sup>(a)</sup> | 82938 | 1327008  |
| JELD-WEN Holding, Inc.<sup>(a)</sup> | 6509 | 12758  |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value**  |
| Resideo Technologies, Inc.<sup>(a)</sup> | 57928 | $2241813  |
| Simpson Manufacturing Co., Inc. | 1245 | 240995  |
| Tecnoglass, Inc. | 1846 | 84104  |
| Trex Co., Inc.<sup>(a)</sup> | 15145 | 627306  |
| UFP Industries, Inc. | 16274 | 1674757  |
|  |  | 13707680  |
| **Capital Markets — 1.6%**<br>|  |  |
|  Artisan Partners Asset Management, Inc. - Class A | 42150 | 1697802  |
| BGC Group, Inc. - Class A | 135750 | 1292340  |
|  Diamond Hill Investment Group, Inc. | 168 | 28874  |
| Etoro Group Ltd. - Class A<sup>(a)</sup> | 9692 | 297254  |
| Hamilton Lane, Inc. - Class A | 6235 | 654301  |
| Houlihan Lokey, Inc. | 1052 | 172286  |
| MarketAxess Holdings, Inc. | 1464 | 281088  |
|  Miami International Holdings, Inc.<sup>(a)</sup> | 11466 | 488451  |
| Morningstar, Inc. | 6047 | 1107447  |
|  Oppenheimer Holdings, Inc. - Class A | 879 | 75849  |
| Piper Sandler Cos. | 1611 | 476131  |
| Ridgepost Capital, Inc. - Class A | 32368 | 261210  |
| StoneX Group, Inc.<sup>(a)</sup> | 4518 | 576045  |
|  Victory Capital Holdings, Inc. - Class A | 7399 | 511863  |
| Virtus Investment Partners, Inc. | 616 | 85230  |
| WisdomTree, Inc. | 12889 | 220531  |
|  |  | 8226702  |
| **Chemicals — 3.1%**<br>|  |  |
| AdvanSix, Inc. | 2375 | 42346  |
| Ashland, Inc. | 34695 | 2163580  |
| Aspen Aerogels, Inc.<sup>(a)</sup> | 8042 | 25091  |
| Avient Corp. | 46076 | 1892341  |
| Cabot Corp. | 6345 | 483108  |
| Celanese Corp. | 9313 | 465091  |
| Chemours Co. | 11364 | 207279  |
| &nbsp;&nbsp;&nbsp; Core Molding Technologies, <br>Inc.<sup>(a)</sup> | 402 | 7337  |
| Ecovyst, Inc.<sup>(a)</sup> | 3821 | 43063  |
| Element Solutions, Inc. | 104964 | 3683187  |
| Elementis PLC | 436669 | 971422  |
| FMC Corp. | 2192 | 32310  |
| Hawkins, Inc. | 5030 | 749973  |
| HB Fuller Co. | 7150 | 469898  |
| Huntsman Corp. | 86233 | 1090848  |
| Ingevity Corp.<sup>(a)</sup> | 7202 | 518760  |
|  International Flavors & Fragrances, Inc. | 12100 | 994983  |
| Intrepid Potash, Inc.<sup>(a)</sup> | 1040 | 38449  |
| Koppers Holdings, Inc. | 1654 | 62521  |
| LSB Industries, Inc.<sup>(a)</sup> | 5554 | 64538  |
| Mativ Holdings, Inc. | 7489 | 81181  |
| NewMarket Corp. | 200 | 125202  |

---

The accompanying notes are an integral part of these financial statements.

10<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**COLUMN SMALL CAP FUND** 

**SCHEDULE OF INVESTMENTS** 

**February 28, 2026 (Unaudited)(Continued)** 

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value**  |
| **COMMON STOCKS — (Continued)**  | **COMMON STOCKS — (Continued)**  | **COMMON STOCKS — (Continued)**  |
| **Chemicals — (Continued)** | **Chemicals — (Continued)** | **Chemicals — (Continued)** |
| Orion SA | 6551 | $37275  |
|  Rayonier Advanced Materials, Inc.<sup>(a)</sup> | 5378 | 50930  |
| Sensient Technologies Corp. | 14300 | 1451879  |
| Stepan Co. | 1910 | 97200  |
| Tronox Holdings PLC | 11561 | 86476  |
|  |  | 15936268  |
| **Commercial Services & Supplies — 2.2%**<br>|  |  |
| ABM Industries, Inc. | 19790 | 880655  |
| ACCO Brands Corp. | 7346 | 29898  |
| Brady Corp. - Class A | 19747 | 1823438  |
| BrightView Holdings, Inc.<sup>(a)</sup> | 75251 | 1037711  |
|  Casella Waste Systems, Inc. - Class A<sup>(a)</sup> | 1600 | 149056  |
| Civeo Corp. | 1273 | 35249  |
| Clean Harbors, Inc.<sup>(a)</sup> | 8195 | 2402774  |
| Ennis, Inc. | 2615 | 55203  |
| Enviri Corp.<sup>(a)</sup> | 70495 | 1334470  |
| &nbsp;&nbsp;&nbsp; Healthcare Services Group, <br>Inc.<sup>(a)</sup> | 7894 | 171853  |
| Interface, Inc. | 7638 | 240521  |
| MSA Safety, Inc. | 5357 | 1046811  |
| OPENLANE, Inc.<sup>(a)</sup> | 71253 | 2031423  |
| Rollins, Inc. | 1544 | 94014  |
| Tetra Tech, Inc. | 6483 | 232351  |
| Virco Mfg. Corp. | 1822 | 11570  |
|  |  | 11576997  |
| **Communications Equipment — 0.9%**<br>|  |  |
| Ciena Corp.<sup>(a)</sup> | 2294 | 799918  |
| Ribbon Communications, Inc.<sup>(a)</sup> | 149902 | 334281  |
| Viasat, Inc.<sup>(a)</sup> | 75619 | 3461838  |
|  |  | 4596037  |
| **Construction & Engineering — 2.2%**<br>|  |  |
| Ameresco, Inc. - Class A<sup>(a)</sup> | 4567 | 139111  |
| Arcosa, Inc. | 15760 | 1693885  |
| Argan, Inc. | 2001 | 902951  |
| Centuri Holdings, Inc.<sup>(a)</sup> | 7190 | 222890  |
|  Construction Partners, Inc. - Class A<sup>(a)</sup> | 10680 | 1435071  |
|  Great Lakes Dredge & Dock Corp.<sup>(a)</sup> | 7625 | 129244  |
| Matrix Service Co.<sup>(a)</sup> | 2300 | 25277  |
| MYR Group, Inc.<sup>(a)</sup> | 3056 | 824998  |
| NWPX Infrastructure, Inc.<sup>(a)</sup> | 275 | 21340  |
| Primoris Services Corp. | 2580 | 388857  |
| Sterling Infrastructure, Inc.<sup>(a)</sup> | 3597 | 1539984  |
| Tutor Perini Corp. | 4905 | 369690  |
| Valmont Industries, Inc. | 7875 | 3621949  |
|  |  | 11315247  |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value**  |
| **Construction Materials — 0.4%**<br>|  |  |
| Eagle Materials, Inc. | 5596 | $1252385  |
| Knife River Corp.<sup>(a)</sup> | 1674 | 148952  |
| Titan America SA | 29972 | 543093  |
|  |  | 1944430  |
| **Consumer Finance — 1.1%**<br>|  |  |
| Atlanticus Holdings Corp.<sup>(a)</sup> | 397 | 20767  |
| Bread Financial Holdings, Inc. | 17885 | 1267331  |
| Credit Acceptance Corp.<sup>(a)</sup> | 380 | 179808  |
| Dave, Inc.<sup>(a)</sup> | 3549 | 685915  |
| Enova International, Inc.<sup>(a)</sup> | 2946 | 409641  |
| FirstCash Holdings, Inc. | 9639 | 1858303  |
| Green Dot Corp. - Class A<sup>(a)</sup> | 6314 | 72990  |
| LendingClub Corp.<sup>(a)</sup> | 9069 | 135219  |
| Medallion Financial Corp. | 799 | 8062  |
| Navient Corp. | 5925 | 52081  |
| Nelnet, Inc. - Class A | 1321 | 171017  |
| OneMain Holdings, Inc. | 5693 | 313229  |
| Oportun Financial Corp.<sup>(a)</sup> | 2293 | 11878  |
| PRA Group, Inc.<sup>(a)</sup> | 965 | 15199  |
| PROG Holdings, Inc. | 3068 | 108024  |
| Regional Management Corp. | 372 | 11837  |
| SLM Corp. | 13342 | 250029  |
| World Acceptance Corp.<sup>(a)</sup> | 309 | 41678  |
|  |  | 5613008  |
|  **Consumer Staples Distribution & Retail — 0.8%**<br>|  |  |
| Andersons, Inc. | 4461 | 291259  |
| BBB Foods, Inc. - Class A<sup>(a)</sup> | 17892 | 652163  |
| Ingles Markets, Inc. - Class A | 1638 | 139394  |
|  Natural Grocers by Vitamin Cottage, Inc. | 1745 | 47167  |
| PriceSmart, Inc. | 14968 | 2314352  |
| United Natural Foods, Inc.<sup>(a)</sup> | 10214 | 390277  |
|  Village Super Market, Inc. - Class A | 945 | 36997  |
| Weis Markets, Inc. | 1459 | 98862  |
|  |  | 3970471  |
| **Containers & Packaging — 0.4%**<br>|  |  |
| AptarGroup, Inc. | 1716 | 246606  |
| Avery Dennison Corp. | 5002 | 982143  |
| Graphic Packaging Holding Co. | 3193 | 39050  |
| Greif, Inc. - Class A | 1398 | 101593  |
| Greif, Inc. - Class B | 129 | 11272  |
| Sealed Air Corp. | 7640 | 319963  |
| Sonoco Products Co. | 8579 | 484456  |
|  |  | 2185083  |
| **Distributors — 0.1%**<br>|  |  |
|  GigaCloud Technology, Inc. - Class A<sup>(a)</sup> | 16068 | 712455  |

---

The accompanying notes are an integral part of these financial statements.

11<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**COLUMN SMALL CAP FUND** 

**SCHEDULE OF INVESTMENTS** 

**February 28, 2026 (Unaudited)(Continued)** 

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value**  |
| **COMMON STOCKS — (Continued)**  | **COMMON STOCKS — (Continued)**  | **COMMON STOCKS — (Continued)**  |
| **Diversified Consumer Services — 0.5%**<br>|  |  |
| ADT, Inc. | 91932 | $737294  |
| &nbsp;&nbsp;&nbsp; American Public Education, <br>Inc.<sup>(a)</sup> | 2009 | 92052  |
|  Bright Horizons Family Solutions, Inc.<sup>(a)</sup> | 2427 | 180860  |
| Driven Brands Holdings, Inc.<sup>(a)</sup> | 57297 | 630267  |
|  Lincoln Educational Services Corp.<sup>(a)</sup> | 3491 | 126514  |
| OneSpaWorld Holdings Ltd. | 15705 | 338129  |
| Perdoceo Education Corp. | 6934 | 231249  |
| &nbsp;&nbsp;&nbsp; Universal Technical Institute, <br>Inc.<sup>(a)</sup> | 5304 | 192005  |
|  |  | 2528370  |
|  **Diversified Telecommunication Services — 0.4%**<br>|  |  |
| ATN International, Inc. | 1084 | 31241  |
| GCI Liberty, Inc. - Class A<sup>(a)</sup> | 135 | 5365  |
| GCI Liberty, Inc. - Class C<sup>(a)</sup> | 4261 | 167670  |
| Globalstar, Inc.<sup>(a)</sup> | 12108 | 753965  |
| Iridium Communications, Inc. | 7508 | 179817  |
| Liberty Global Ltd. - Class A<sup>(a)</sup> | 14049 | 178984  |
| Liberty Global Ltd. - Class C<sup>(a)</sup> | 12601 | 154992  |
| Lumen Technologies, Inc.<sup>(a)</sup> | 96185 | 683876  |
|  Shenandoah Telecommunications Co. | 5679 | 77405  |
|  |  | 2233315  |
| **Electric Utilities — 0.7%**<br>|  |  |
| IDACORP, Inc. | 10495 | 1510965  |
| Oklo, Inc.<sup>(a)</sup> | 2974 | 187213  |
| Portland General Electric Co. | 34207 | 1845810  |
|  |  | 3543988  |
| **Electrical Equipment — 1.4%**<br>|  |  |
| Atkore, Inc. | 3790 | 245251  |
|  Babcock & Wilcox Enterprises, Inc.<sup>(a)</sup> | 57729 | 511479  |
| Bloom Energy Corp. - Class A<sup>(a)</sup> | 4188 | 651946  |
| EnerSys | 4214 | 700156  |
| Fluence Energy, Inc.<sup>(a)</sup> | 6514 | 101227  |
| Forgent Power Solutions, Inc.<sup>(a)</sup> | 9380 | 322578  |
| Preformed Line Products Co. | 91 | 23082  |
| Regal Rexnord Corp. | 18268 | 4036863  |
| Rosebank Industries PLC<sup>(a)(c)</sup> | 110871 | 490084  |
|  |  | 7082666  |
|  **Electronic Equipment, Instruments & Components — 4.5%**<br>|  |  |
| Advanced Energy Industries, Inc. | 1069 | 358724  |
| Arrow Electronics, Inc.<sup>(a)</sup> | 4384 | 667069  |
| Avnet, Inc. | 9345 | 615275  |
| Badger Meter, Inc. | 586 | 89324  |
| Benchmark Electronics, Inc. | 32046 | 1852579  |
| Cognex Corp. | 10438 | 567827  |
| Coherent Corp.<sup>(a)</sup> | 2919 | 755817  |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value**  |
| Crane NXT Co. | 19326 | $933252  |
| Daktronics, Inc.<sup>(a)</sup> | 5006 | 129055  |
| ePlus, Inc. | 2718 | 219234  |
| Fabrinet<sup>(a)</sup> | 1775 | 968493  |
| Ingram Micro Holding Corp. | 425 | 8793  |
| Innoviz Technologies Ltd.<sup>(a)</sup> | 43422 | 37035  |
| IPG Photonics Corp.<sup>(a)</sup> | 9638 | 1268072  |
| Itron, Inc.<sup>(a)</sup> | 9028 | 848181  |
| Kimball Electronics, Inc.<sup>(a)</sup> | 2550 | 63724  |
| Knowles Corp.<sup>(a)</sup> | 9606 | 260995  |
| Littelfuse, Inc. | 6334 | 2232482  |
| Methode Electronics, Inc. | 2110 | 17851  |
| Mirion Technologies, Inc.<sup>(a)</sup> | 23679 | 511703  |
| M-Tron Industries, Inc.<sup>(a)</sup> | 59 | 3734  |
| nLight, Inc.<sup>(a)</sup> | 9441 | 530490  |
| Novanta, Inc.<sup>(a)</sup> | 6671 | 896782  |
| OSI Systems, Inc.<sup>(a)</sup> | 3749 | 1069215  |
| Oxford Instruments PLC | 13410 | 473147  |
| PC Connection, Inc. | 8 | 488  |
| Plexus Corp.<sup>(a)</sup> | 10421 | 2023029  |
| Ralliant Corp. | 12000 | 550680  |
| Rogers Corp.<sup>(a)</sup> | 2831 | 305267  |
| Sanmina Corp.<sup>(a)</sup> | 13373 | 2076292  |
| ScanSource, Inc.<sup>(a)</sup> | 1065 | 39171  |
| Teledyne Technologies, Inc.<sup>(a)</sup> | 1198 | 815958  |
| TTM Technologies, Inc.<sup>(a)</sup> | 1689 | 176061  |
| Vishay Intertechnology, Inc. | 12073 | 226006  |
| Vontier Corp. | 43148 | 1765616  |
|  |  | 23357421  |
| **Energy Equipment & Services — 3.4%**<br>|  |  |
| Archrock, Inc. | 66816 | 2360609  |
| Atlas Energy Solutions, Inc. | 36670 | 353132  |
| Bristow Group, Inc.<sup>(a)</sup> | 2610 | 124497  |
| Expro Group Holdings NV<sup>(a)</sup> | 47114 | 841456  |
| &nbsp;&nbsp;&nbsp; Forum Energy Technologies, <br>Inc.<sup>(a)</sup> | 1220 | 70797  |
|  Helix Energy Solutions Group, Inc.<sup>(a)</sup> | 16121 | 148152  |
| Helmerich & Payne, Inc. | 9150 | 322263  |
| Hunting PLC | 130599 | 910040  |
| Innovex International, Inc.<sup>(a)</sup> | 7883 | 207717  |
| Kodiak Gas Services, Inc. | 6517 | 355633  |
| Liberty Energy, Inc. | 65422 | 1837704  |
| Nabors Industries Ltd.<sup>(a)</sup> | 597 | 46638  |
| Natural Gas Services Group, Inc. | 1559 | 59647  |
| Noble Corp. PLC | 32953 | 1497055  |
| NOV, Inc. | 38565 | 781327  |
| Oceaneering International, Inc.<sup>(a)</sup> | 15874 | 563527  |
| Oil States International, Inc.<sup>(a)</sup> | 5223 | 68369  |
| Patterson-UTI Energy, Inc. | 61402 | 522531  |
| &nbsp;&nbsp;&nbsp; ProFrac Holding Corp. - <br>Class A<sup>(a)</sup> | 1642 | 8128  |
| ProPetro Holding Corp.<sup>(a)</sup> | 8962 | 108709  |
|  Ranger Energy Services, Inc. - Class A | 1823 | 31757  |

---

The accompanying notes are an integral part of these financial statements.

12<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**COLUMN SMALL CAP FUND** 

**SCHEDULE OF INVESTMENTS** 

**February 28, 2026 (Unaudited)(Continued)** 

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value**  |
| **COMMON STOCKS — (Continued)**  | **COMMON STOCKS — (Continued)**  | **COMMON STOCKS — (Continued)**  |
| **Energy Equipment & Services — (Continued)** | **Energy Equipment & Services — (Continued)** | **Energy Equipment & Services — (Continued)** |
| RPC, Inc. | 10137 | $58896  |
| Seadrill Ltd.<sup>(a)</sup> | 3443 | 151079  |
| Select Water Solutions, Inc. | 107443 | 1468746  |
| TechnipFMC PLC | 15352 | 1017991  |
| TETRA Technologies, Inc.<sup>(a)</sup> | 153772 | 1331665  |
| Tidewater, Inc.<sup>(a)</sup> | 9737 | 773313  |
| Transocean Ltd.<sup>(a)</sup> | 67758 | 439072  |
| Valaris Ltd.<sup>(a)</sup> | 6357 | 609318  |
| Weatherford International PLC | 6392 | 674100  |
|  |  | 17743868  |
| **Entertainment — 0.2%**<br>|  |  |
| IMAX Corp.<sup>(a)</sup> | 4602 | 197104  |
| Lionsgate Studios Corp.<sup>(a)</sup> | 65129 | 586161  |
| Marcus Corp. | 2576 | 43354  |
| Starz Entertainment Corp.<sup>(a)</sup> | 4747 | 52217  |
|  |  | 878836  |
| **Financial Services — 0.7%**<br>|  |  |
| Alerus Financial Corp. | 542 | 12921  |
| Chime Financial, Inc. - Class A<sup>(a)</sup> | 18111 | 400796  |
| Enact Holdings, Inc. | 1864 | 77990  |
| Essent Group Ltd. | 4852 | 295196  |
| Euronet Worldwide, Inc.<sup>(a)</sup> | 2 | 139  |
| &nbsp;&nbsp;&nbsp; Federal Agricultural Mortgage <br>Corp. - Class C | 769 | 121241  |
| Finance Of America Cos., Inc.<sup>(a)</sup> | 560 | 10836  |
|  International Money Express, Inc.<sup>(a)</sup> | 1872 | 29540  |
| Jack Henry & Associates, Inc. | 1760 | 285930  |
| Jackson Financial, Inc. - Class A | 5434 | 594914  |
| Merchants Bancorp | 1400 | 59192  |
| MGIC Investment Corp. | 16703 | 443131  |
| NMI Holdings, Inc. - Class A<sup>(a)</sup> | 6481 | 254768  |
| Onity Group, Inc.<sup>(a)</sup> | 318 | 13327  |
| Payoneer Global, Inc.<sup>(a)</sup> | 23783 | 102743  |
| &nbsp;&nbsp;&nbsp; PennyMac Financial Services, <br>Inc. | 2000 | 183860  |
| Radian Group, Inc. | 11742 | 405334  |
| Shift4 Payments, Inc. - Class A<sup>(a)</sup> | 973 | 42880  |
| Velocity Financial, Inc.<sup>(a)</sup> | 968 | 17995  |
|  |  | 3352733  |
| **Food Products — 0.6%**<br>|  |  |
| Cal-Maine Foods, Inc. | 4828 | 420567  |
| Dole PLC | 6864 | 110099  |
| Fresh Del Monte Produce, Inc. | 4252 | 182538  |
| Freshpet, Inc.<sup>(a)</sup> | 4818 | 406880  |
| Hain Celestial Group, Inc.<sup>(a)</sup> | 26576 | 21245  |
| Magnum Ice Cream Co. NV<sup>(a)</sup> | 29763 | 472339  |
| Mission Produce, Inc.<sup>(a)</sup> | 2907 | 41250  |
| Post Holdings, Inc.<sup>(a)</sup> | 4715 | 501204  |
| Premium Brands Holdings Corp. | 4090 | 317863  |
| Seaboard Corp. | 27 | 138583  |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value**  |
| Seneca Foods Corp. - Class A<sup>(a)</sup> | 816 | $113408  |
| Vital Farms, Inc.<sup>(a)</sup> | 11859 | 250106  |
|  |  | 2976082  |
| **Gas Utilities — 1.2%**<br>|  |  |
| Atmos Energy Corp. | 5205 | 972242  |
| Chesapeake Utilities Corp. | 1786 | 242843  |
| National Fuel Gas Co. | 1865 | 169771  |
| New Jersey Resources Corp. | 17272 | 936833  |
| Northwest Natural Holding Co. | 20955 | 1111453  |
| Spire, Inc. | 24210 | 2217878  |
| UGI Corp. | 7387 | 276348  |
|  |  | 5927368  |
| **Ground Transportation — 0.9%**<br>|  |  |
| ArcBest Corp. | 2471 | 253673  |
| Covenant Logistics Group, Inc. | 1804 | 53110  |
| Heartland Express, Inc. | 3945 | 43513  |
|  Knight-Swift Transportation Holdings, Inc. | 22124 | 1392042  |
| Marten Transport Ltd. | 6237 | 84761  |
| RXO, Inc.<sup>(a)</sup> | 43115 | 688115  |
| Ryder System, Inc. | 3687 | 816892  |
| Saia, Inc.<sup>(a)</sup> | 614 | 248910  |
| &nbsp;&nbsp;&nbsp; Schneider National, Inc. - <br>Class B | 15125 | 429248  |
| &nbsp;&nbsp;&nbsp; Universal Logistics Holdings, <br>Inc. | 715 | 11890  |
| Werner Enterprises, Inc. | 20537 | 720643  |
|  |  | 4742797  |
|  **Health Care Equipment & Supplies — 2.1%**<br>|  |  |
| Accuray, Inc.<sup>(a)</sup> | 64784 | 37413  |
| Acme United Corp. | 469 | 21110  |
| Alphatec Holdings, Inc.<sup>(a)</sup> | 73942 | 1007090  |
| AtriCure, Inc.<sup>(a)</sup> | 9927 | 310318  |
| CONMED Corp. | 3339 | 153594  |
| CytoSorbents Corp.<sup>(a)</sup> | 2079 | 1564  |
| DENTSPLY SIRONA, Inc. | 13461 | 197607  |
| Envista Holdings Corp.<sup>(a)</sup> | 72867 | 2128445  |
| Haemonetics Corp.<sup>(a)</sup> | 24804 | 1570589  |
| Integer Holdings Corp.<sup>(a)</sup> | 1910 | 165559  |
|  Integra LifeSciences Holdings Corp.<sup>(a)</sup> | 24270 | 276193  |
| iRadimed Corp. | 7131 | 738272  |
| Kewaunee Scientific Corp.<sup>(a)</sup> | 96 | 3983  |
| Lantheus Holdings, Inc.<sup>(a)</sup> | 6607 | 494930  |
| LivaNova PLC<sup>(a)</sup> | 5484 | 387170  |
| Neogen Corp.<sup>(a)</sup> | 18363 | 206217  |
| Novocure Ltd.<sup>(a)</sup> | 8023 | 109674  |
| OraSure Technologies, Inc.<sup>(a)</sup> | 41233 | 129884  |
| QuidelOrtho Corp.<sup>(a)</sup> | 24709 | 561883  |
| SI-BONE, Inc.<sup>(a)</sup> | 30053 | 466423  |
| &nbsp;&nbsp;&nbsp; Tactile Systems Technology, <br>Inc.<sup>(a)</sup> | 3168 | 92791  |
| Teleflex, Inc. | 8503 | 1037876  |

---

The accompanying notes are an integral part of these financial statements.

13<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**COLUMN SMALL CAP FUND** 

**SCHEDULE OF INVESTMENTS** 

**February 28, 2026 (Unaudited)(Continued)** 

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value**  |
| **COMMON STOCKS — (Continued)**  | **COMMON STOCKS — (Continued)**  | **COMMON STOCKS — (Continued)**  |
| &nbsp;&nbsp;&nbsp; **Health Care Equipment &** <br>**Supplies — (Continued)**  | &nbsp;&nbsp;&nbsp; **Health Care Equipment &** <br>**Supplies — (Continued)**  | &nbsp;&nbsp;&nbsp; **Health Care Equipment &** <br>**Supplies — (Continued)**  |
| UFP Technologies, Inc.<sup>(a)</sup> | 1879 | $395680  |
| Varex Imaging Corp.<sup>(a)</sup> | 22409 | 295127  |
|  |  | 10789392  |
| **Health Care Providers & Services — 2.4%**<br>|  |  |
| Acadia Healthcare Co., Inc.<sup>(a)</sup> | 37423 | 877195  |
|  Aveanna Healthcare Holdings, Inc.<sup>(a)</sup> | 84719 | 623532  |
| Brookdale Senior Living, Inc.<sup>(a)</sup> | 13875 | 212287  |
| Chemed Corp. | 566 | 232066  |
| Cross Country Healthcare, Inc.<sup>(a)</sup> | 3 | 26  |
| Encompass Health Corp. | 7091 | 764977  |
| Ensign Group, Inc. | 4517 | 967406  |
| HealthEquity, Inc.<sup>(a)</sup> | 8687 | 664469  |
| Hinge Health, Inc. - Class A<sup>(a)</sup> | 14637 | 625878  |
| InfuSystem Holdings, Inc.<sup>(a)</sup> | 1271 | 11147  |
| National HealthCare Corp. | 753 | 123115  |
| National Research Corp. | 38422 | 515239  |
| Nutex Health, Inc.<sup>(a)</sup> | 551 | 60863  |
| Omada Health, Inc.<sup>(a)</sup> | 29445 | 361585  |
| Option Care Health, Inc.<sup>(a)</sup> | 41220 | 1338001  |
| PACS Group, Inc.<sup>(a)</sup> | 13971 | 510081  |
| Pediatrix Medical Group, Inc.<sup>(a)</sup> | 18320 | 363652  |
| RadNet, Inc.<sup>(a)</sup> | 7473 | 521690  |
| US Physical Therapy, Inc. | 41511 | 3443753  |
|  |  | 12216962  |
| **Health Care Technology — 0.1%**<br>|  |  |
| CareCloud, Inc.<sup>(a)</sup> | 1515 | 3712  |
| Phreesia, Inc.<sup>(a)</sup> | 54388 | 670604  |
| Teladoc Health, Inc.<sup>(a)</sup> | 6451 | 33932  |
|  |  | 708248  |
| **Hotels, Restaurants & Leisure — 1.7%**<br>|  |  |
| Accel Entertainment, Inc.<sup>(a)</sup> | 5974 | 67865  |
| BJ's Restaurants, Inc.<sup>(a)</sup> | 2621 | 99572  |
| Bloomin' Brands, Inc. | 5644 | 34541  |
| Boyd Gaming Corp. | 7140 | 594262  |
| Brightstar Lottery PLC | 67402 | 913971  |
| Brinker International, Inc.<sup>(a)</sup> | 399 | 59132  |
| Cheesecake Factory, Inc. | 4697 | 304272  |
| Churchill Downs, Inc. | 9165 | 842538  |
|  Cracker Barrel Old Country Store, Inc. | 2638 | 86315  |
|  Dave & Buster's Entertainment, Inc.<sup>(a)</sup> | 7671 | 112917  |
| Golden Entertainment, Inc. | 1029 | 29738  |
| Hilton Grand Vacations, Inc.<sup>(a)</sup> | 20726 | 931841  |
| Life Time Group Holdings, Inc.<sup>(a)</sup> | 36843 | 994761  |
| Monarch Casino & Resort, Inc. | 1392 | 133771  |
|  Norwegian Cruise Line Holdings Ltd.<sup>(a)</sup> | 46830 | 1160916  |
| Planet Fitness, Inc. - Class A<sup>(a)</sup> | 6706 | 550898  |
| RCI Hospitality Holdings, Inc. | 737 | 16310  |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value**  |
| Red Rock Resorts, Inc. - Class A | 11020 | $667261  |
| Super Group SGHC Ltd. | 18990 | 203193  |
| Target Hospitality Corp.<sup>(a)</sup> | 1214 | 9457  |
| Texas Roadhouse, Inc. | 1584 | 289666  |
| United Parks & Resorts, Inc.<sup>(a)</sup> | 4083 | 142048  |
| Wyndham Hotels & Resorts, Inc. | 4414 | 361065  |
|  |  | 8606310  |
| **Household Durables — 2.4%**<br>|  |  |
| Century Communities, Inc. | 12305 | 827265  |
| Cricut, Inc. - Class A | 4528 | 19470  |
|  Dream Finders Homes, Inc. - Class A<sup>(a)</sup> | 119360 | 2156835  |
| Ethan Allen Interiors, Inc. | 2619 | 59661  |
| Flexsteel Industries, Inc. | 395 | 20331  |
|  Hamilton Beach Brands Holding Co. - Class A | 200 | 3808  |
|  Hovnanian Enterprises, Inc. - Class A<sup>(a)</sup> | 411 | 51630  |
| Installed Building Products, Inc. | 9968 | 3267112  |
| KB Home | 1341 | 85261  |
| La-Z-Boy, Inc. | 20773 | 742011  |
| Leggett & Platt, Inc. | 1363 | 15920  |
| M/I Homes, Inc.<sup>(a)</sup> | 2182 | 310193  |
| Meritage Homes Corp. | 14792 | 1115613  |
| Mohawk Industries, Inc.<sup>(a)</sup> | 56 | 7015  |
| Smith Douglas Homes Corp.<sup>(a)</sup> | 44651 | 701021  |
| Somnigroup International, Inc. | 9584 | 857864  |
| Taylor Morrison Home Corp.<sup>(a)</sup> | 17370 | 1144509  |
| Tri Pointe Homes, Inc.<sup>(a)</sup> | 9328 | 431886  |
| Whirlpool Corp. | 4942 | 338181  |
|  |  | 12155586  |
| **Household Products — 0.1%**<br>|  |  |
| Central Garden & Pet Co.<sup>(a)</sup> | 1067 | 41816  |
|  Central Garden & Pet Co. - Class A<sup>(a)</sup> | 5850 | 202059  |
| Oil-Dri Corp. of America | 1086 | 73674  |
| Spectrum Brands Holdings, Inc. | 2469 | 193520  |
|  |  | 511069  |
|  **Independent Power and Renewable Electricity Producers — 0.7%**<br>|  |  |
| Hallador Energy Co.<sup>(a)</sup> | 3356 | 61012  |
| Montauk Renewables, Inc.<sup>(a)</sup> | 4298 | 6619  |
| Ormat Technologies, Inc. | 15022 | 1557781  |
| Talen Energy Corp.<sup>(a)</sup> | 2182 | 809456  |
| TransAlta Corp. | 56928 | 782523  |
| Vistra Corp. | 2346 | 407946  |
| XPLR Infrastructure LP<sup>(a)</sup> | 9349 | 99006  |
|  |  | 3724343  |
| **Insurance — 4.4%**<br>|  |  |
| &nbsp;&nbsp;&nbsp; American Coastal Insurance <br>Corp. | 464 | 5285  |
| AMERISAFE, Inc. | 2820 | 91735  |
| Assured Guaranty Ltd. | 2963 | 255440  |
| Axis Capital Holdings Ltd. | 4761 | 503333  |

---

The accompanying notes are an integral part of these financial statements.

14<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**COLUMN SMALL CAP FUND** 

**SCHEDULE OF INVESTMENTS** 

**February 28, 2026 (Unaudited)(Continued)** 

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value**  |
| **COMMON STOCKS — (Continued)**  | **COMMON STOCKS — (Continued)**  | **COMMON STOCKS — (Continued)**  |
| **Insurance — (Continued)** <br>|  |  |
|  Bowhead Specialty Holdings, Inc.<sup>(a)</sup> | 15573 | $394464  |
| Brighthouse Financial, Inc.<sup>(a)</sup> | 5498 | 329770  |
| CNO Financial Group, Inc. | 69195 | 2893043  |
| Crawford & Co. - Class A | 1199 | 12901  |
| Crawford & Co. - Class B | 501 | 4980  |
| Donegal Group, Inc. - Class A | 797 | 14043  |
| Employers Holdings, Inc. | 1650 | 68228  |
| F&G Annuities & Life, Inc. | 804 | 18211  |
| Fidelis Insurance Holdings Ltd. | 5389 | 102714  |
| First American Financial Corp. | 2912 | 204160  |
|  Genworth Financial, Inc. - Class A<sup>(a)</sup> | 31554 | 266316  |
|  Goosehead Insurance, Inc. - Class A<sup>(a)</sup> | 45680 | 2475856  |
|  Greenlight Capital Re Ltd. - Class A<sup>(a)</sup> | 1064 | 15098  |
| Hagerty, Inc. - Class A<sup>(a)</sup> | 11789 | 138403  |
| Hanover Insurance Group, Inc. | 10307 | 1861753  |
| HCI Group, Inc. | 3610 | 636876  |
|  Heritage Insurance Holdings, Inc.<sup>(a)</sup> | 2714 | 75639  |
| Horace Mann Educators Corp. | 30946 | 1346461  |
| Kingstone Cos., Inc. | 1027 | 16925  |
| Kinsale Capital Group, Inc. | 7734 | 3013708  |
| Mercury General Corp. | 3022 | 273733  |
| Oscar Health, Inc. - Class A<sup>(a)</sup> | 21440 | 292442  |
| Palomar Holdings, Inc.<sup>(a)</sup> | 1610 | 199173  |
| Primerica, Inc. | 2476 | 628062  |
| Ryan Specialty Holdings, Inc. | 77209 | 3038174  |
| Selective Insurance Group, Inc. | 17686 | 1486331  |
| SiriusPoint Ltd.<sup>(a)</sup> | 12717 | 268837  |
|  Skyward Specialty Insurance Group, Inc.<sup>(a)</sup> | 2687 | 124865  |
| Slide Insurance Holdings, Inc.<sup>(a)</sup> | 33913 | 644347  |
| &nbsp;&nbsp;&nbsp; Stewart Information Services <br>Corp. | 4025 | 285735  |
| TWFG, Inc.<sup>(a)</sup> | 85 | 1730  |
| United Fire Group, Inc. | 1483 | 57629  |
| &nbsp;&nbsp;&nbsp; Universal Insurance Holdings, <br>Inc. | 1992 | 70059  |
|  White Mountains Insurance Group Ltd. | 195 | 432999  |
|  |  | 22549458  |
| **Interactive Media & Services — 0.3%**<br>|  |  |
| Cargurus, Inc.<sup>(a)</sup> | 11283 | 346388  |
| Cars.com, Inc.<sup>(a)</sup> | 6615 | 56492  |
| IAC, Inc.<sup>(a)</sup> | 20899 | 800850  |
| Yelp, Inc.<sup>(a)</sup> | 5394 | 120232  |
|  |  | 1323962  |
| **IT Services — 0.3%**<br>|  |  |
| ASGN, Inc.<sup>(a)</sup> | 12969 | 556370  |
| DXC Technology Co.<sup>(a)</sup> | 22387 | 281852  |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value**  |
| Kyndryl Holdings, Inc.<sup>(a)</sup> | 41351 | $509858  |
| Unisys Corp.<sup>(a)</sup> | 56664 | 137693  |
| Wix.com Ltd.<sup>(a)</sup> | 2784 | 196161  |
|  |  | 1681934  |
| **Leisure Products — 0.6%**<br>|  |  |
| Acushnet Holdings Corp. | 694 | 71017  |
| BRP, Inc. | 610 | 44724  |
| Brunswick Corp. | 20042 | 1595744  |
| Callaway Golf Co.<sup>(a)</sup> | 41383 | 581845  |
| Clarus Corp. | 1947 | 6153  |
| Escalade, Inc. | 526 | 7574  |
| JAKKS Pacific, Inc. | 780 | 17051  |
| Marine Products Corp. | 571 | 4334  |
| MasterCraft Boat Holdings, Inc.<sup>(a)</sup> | 1038 | 22530  |
| Polaris, Inc. | 5749 | 349194  |
| Sturm Ruger & Co., Inc. | 1895 | 70949  |
| YETI Holdings, Inc.<sup>(a)</sup> | 6779 | 296310  |
|  |  | 3067425  |
| **Life Sciences Tools & Services — 0.8%**<br>|  |  |
| Azenta, Inc.<sup>(a)</sup> | 7061 | 190506  |
|  Bio-Rad Laboratories, Inc. - Class A<sup>(a)</sup> | 1580 | 439935  |
| Bio-Techne Corp. | 5010 | 295590  |
| Bruker Corp. | 28267 | 1133789  |
|  Charles River Laboratories International, Inc.<sup>(a)</sup> | 2023 | 361085  |
| ICON PLC<sup>(a)</sup> | 4668 | 504797  |
| Revvity, Inc. | 9890 | 972286  |
| Standard BioTools, Inc.<sup>(a)</sup> | 52128 | 58905  |
| Stevanato Group SpA | 6962 | 108050  |
|  West Pharmaceutical Services, Inc. | 534 | 135818  |
|  |  | 4200761  |
| **Machinery — 6.4%**<br>|  |  |
| Alamo Group, Inc. | 6941 | 1482112  |
|  Albany International Corp. - Class A | 4412 | 254352  |
| Alliance Laundry Holdings, Inc.<sup>(a)</sup> | 135379 | 3036551  |
| Astec Industries, Inc. | 1463 | 90838  |
| &nbsp;&nbsp;&nbsp; Atmus Filtration Technologies, <br>Inc. | 1555 | 100344  |
| Blue Bird Corp.<sup>(a)</sup> | 3334 | 194272  |
| CECO Environmental Corp.<sup>(a)</sup> | 17896 | 1081813  |
| Crane Co. | 963 | 193110  |
| Enerpac Tool Group Corp. | 94494 | 3855355  |
| Enpro, Inc. | 571 | 147689  |
| Esab Corp. | 2712 | 342173  |
| ESCO Technologies, Inc. | 1080 | 299473  |
| Federal Signal Corp. | 2206 | 256845  |
| Flowserve Corp. | 8549 | 756757  |
| Gates Industrial Corp. PLC<sup>(a)</sup> | 82888 | 2285222  |
| Graco, Inc. | 1892 | 177697  |
| Greenbrier Cos., Inc. | 3656 | 206271  |
| Helios Technologies, Inc. | 8834 | 630041  |

---

The accompanying notes are an integral part of these financial statements.

15<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**COLUMN SMALL CAP FUND** 

**SCHEDULE OF INVESTMENTS** 

**February 28, 2026 (Unaudited)(Continued)** 

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value**  |
| **COMMON STOCKS — (Continued)**  | **COMMON STOCKS — (Continued)**  | **COMMON STOCKS — (Continued)**  |
| **Machinery — (Continued)** | **Machinery — (Continued)** | **Machinery — (Continued)** |
| Hillman Solutions Corp.<sup>(a)</sup> | 102177 | $837851  |
| Hyster-Yale, Inc. | 938 | 34547  |
| JBT Marel Corp. | 10140 | 1561560  |
| Kadant, Inc. | 641 | 217408  |
| Kennametal, Inc. | 8763 | 352974  |
| Lincoln Electric Holdings, Inc. | 4230 | 1214221  |
| Lindsay Corp. | 1786 | 240574  |
| Luxfer Holdings PLC | 2811 | 36178  |
| Mayville Engineering Co., Inc.<sup>(a)</sup> | 731 | 15351  |
| Microvast Holdings, Inc.<sup>(a)</sup> | 14941 | 33468  |
| Middleby Corp.<sup>(a)</sup> | 1107 | 186928  |
| Miller Industries, Inc. | 1699 | 71409  |
| Mueller Industries, Inc. | 12740 | 1502810  |
|  Mueller Water Products, Inc. - Class A | 43044 | 1288307  |
| Omega Flex, Inc. | 21176 | 760854  |
| Oshkosh Corp. | 2784 | 473336  |
| Park-Ohio Holdings Corp. | 831 | 21390  |
|  Perma-Pipe International Holdings, Inc.<sup>(a)</sup> | 600 | 19422  |
| RBC Bearings, Inc.<sup>(a)</sup> | 3143 | 1810117  |
| SPX Technologies, Inc.<sup>(a)</sup> | 1258 | 285490  |
| Standex International Corp. | 1390 | 364180  |
| Stratasys Ltd.<sup>(a)</sup> | 49746 | 479054  |
| Tennant Co. | 1795 | 109549  |
| Terex Corp. | 8892 | 611681  |
| Timken Co. | 5817 | 630446  |
| Toro Co. | 38727 | 3828551  |
| Trinity Industries, Inc. | 8951 | 305945  |
| Wabash National Corp. | 2897 | 29405  |
|  Watts Water Technologies, Inc. - Class A | 363 | 119333  |
| Worthington Enterprises, Inc. | 37 | 2072  |
|  |  | 32835326  |
| **Marine Transportation — 0.6%**<br>|  |  |
| &nbsp;&nbsp;&nbsp; Costamare Bulkers Holdings <br>Ltd.<sup>(a)</sup> | 892 | 17019  |
| Costamare, Inc. | 4989 | 87657  |
| Genco Shipping & Trading Ltd. | 4673 | 112386  |
| Kirby Corp.<sup>(a)</sup> | 8778 | 1139384  |
| Matson, Inc. | 3594 | 597071  |
| Safe Bulkers, Inc. | 3832 | 25138  |
| Star Bulk Carriers Corp. | 39326 | 1033881  |
|  |  | 3012536  |
| **Media — 0.5%**<br>|  |  |
| AMC Networks, Inc. - Class A<sup>(a)</sup> | 4427 | 36168  |
| Cable One, Inc. | 555 | 53252  |
| Criteo SA - ADR<sup>(a)</sup> | 37318 | 666873  |
| Gambling.com Group Ltd.<sup>(a)</sup> | 1617 | 7050  |
| &nbsp;&nbsp;&nbsp; John Wiley & Sons, Inc. - <br>Class A | 4954 | 153673  |
| Magnite, Inc.<sup>(a)</sup> | 45625 | 621412  |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value**  |
| New York Times Co. - Class A | 7900 | $630341  |
| Nexstar Media Group, Inc. | 1480 | 371510  |
| Scholastic Corp. | 2093 | 72774  |
|  |  | 2613053  |
| **Metals & Mining — 2.2%**<br>|  |  |
| Alcoa Corp. | 11542 | 716527  |
|  Alpha Metallurgical Resources, Inc.<sup>(a)</sup> | 1279 | 208029  |
| Caledonia Mining Corp. PLC | 1700 | 53958  |
| Capstone Copper Corp.<sup>(a)</sup> | 72227 | 747130  |
| Century Aluminum Co.<sup>(a)</sup> | 5017 | 258677  |
| Cleveland-Cliffs, Inc.<sup>(a)</sup> | 53464 | 569926  |
| Coeur Mining, Inc.<sup>(a)</sup> | 7768 | 210901  |
| Commercial Metals Co. | 53247 | 3903005  |
|  Compass Minerals International, Inc.<sup>(a)</sup> | 4898 | 123430  |
| Constellium SE<sup>(a)</sup> | 15985 | 397867  |
| Ferroglobe PLC | 14130 | 72204  |
| Kaiser Aluminum Corp. | 1171 | 152394  |
| Materion Corp. | 1993 | 324979  |
| Metallus, Inc.<sup>(a)</sup> | 3365 | 57205  |
| Ramaco Resources, Inc.<sup>(a)</sup> | 658 | 9962  |
| Ryerson Holding Corp. | 34824 | 910984  |
| SSR Mining, Inc.<sup>(a)</sup> | 23867 | 768279  |
| SunCoke Energy, Inc. | 12065 | 68771  |
| thyssenkrupp AG | 58399 | 728055  |
| Warrior Met Coal, Inc. | 10925 | 909397  |
|  |  | 11191680  |
| **Multi-Utilities — 0.5%**<br>|  |  |
| Black Hills Corp. | 18012 | 1326764  |
| Northwestern Energy Group, Inc. | 14887 | 1041494  |
|  |  | 2368258  |
| **Oil, Gas & Consumable Fuels — 3.9%**<br>|  |  |
| Amplify Energy Corp.<sup>(a)</sup> | 4789 | 27489  |
| Antero Resources Corp.<sup>(a)</sup> | 32206 | 1185503  |
| Ardmore Shipping Corp. | 5082 | 83243  |
| BKV Corp.<sup>(a)</sup> | 47753 | 1496102  |
| California Resources Corp. | 8421 | 495492  |
| &nbsp;&nbsp;&nbsp; Centrus Energy Corp. - <br>Class A<sup>(a)</sup> | 2072 | 419766  |
| Chord Energy Corp. | 2700 | 292599  |
| CNX Resources Corp.<sup>(a)</sup> | 41872 | 1749412  |
| Comstock Resources, Inc.<sup>(a)</sup> | 7249 | 142153  |
| Crescent Energy Co. - Class A | 27127 | 316301  |
| Devon Energy Corp. | 16361 | 712194  |
| DHT Holdings, Inc. | 57336 | 1117479  |
| Dorian LPG Ltd. | 5064 | 187317  |
| Evolution Petroleum Corp. | 1128 | 5042  |
| Gran Tierra Energy, Inc.<sup>(a)</sup> | 3835 | 23163  |
| Granite Ridge Resources, Inc. | 7912 | 40035  |
| Gulfport Energy Corp.<sup>(a)</sup> | 1116 | 232865  |
| HighPeak Energy, Inc. | 2712 | 14130  |
| International Seaways, Inc. | 5727 | 432560  |
| Kimbell Royalty Partners LP | 9265 | 132860  |

---

The accompanying notes are an integral part of these financial statements.

16<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**COLUMN SMALL CAP FUND** 

**SCHEDULE OF INVESTMENTS** 

**February 28, 2026 (Unaudited)(Continued)** 

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value**  |
| **COMMON STOCKS — (Continued)**  | **COMMON STOCKS — (Continued)**  | **COMMON STOCKS — (Continued)**  |
| **Oil, Gas & Consumable Fuels — (Continued)** | **Oil, Gas & Consumable Fuels — (Continued)** | **Oil, Gas & Consumable Fuels — (Continued)** |
|  Magnolia Oil & Gas Corp. - Class A | 19556 | $544048  |
| Matador Resources Co. | 20970 | 1077858  |
| Murphy Oil Corp. | 42140 | 1396941  |
| Nordic American Tankers Ltd. | 17713 | 101495  |
| Northern Oil & Gas, Inc. | 16446 | 453745  |
| Par Pacific Holdings, Inc.<sup>(a)</sup> | 6971 | 297453  |
| PBF Energy, Inc. - Class A | 20034 | 713210  |
| Peabody Energy Corp. | 14893 | 469725  |
| Permian Resources Corp. | 51585 | 943490  |
| &nbsp;&nbsp;&nbsp; REX American Resources <br>Corp.<sup>(a)</sup> | 840 | 29870  |
| Riley Exploration Permian, Inc. | 1769 | 51018  |
| SandRidge Energy, Inc. | 2779 | 48716  |
| Scorpio Tankers, Inc. | 14478 | 1144920  |
| SFL Corp. Ltd. | 14626 | 161032  |
| SM Energy Co. | 43422 | 1004351  |
| Talos Energy, Inc.<sup>(a)</sup> | 17870 | 218908  |
| Teekay Corp. Ltd. | 7521 | 97397  |
| Teekay Tankers Ltd. | 2449 | 191683  |
| VAALCO Energy, Inc. | 12937 | 66626  |
| Viper Energy, Inc. - Class A | 6388 | 297298  |
| Vitesse Energy, Inc. | 3642 | 70327  |
| Whitecap Resources, Inc. | 140633 | 1404216  |
| World Kinect Corp. | 4811 | 120034  |
|  |  | 20010066  |
| **Paper & Forest Products — 0.3%**<br>|  |  |
| Louisiana-Pacific Corp. | 18047 | 1529303  |
| Mercer International, Inc. | 1870 | 3366  |
| Sylvamo Corp. | 2078 | 96211  |
|  |  | 1628880  |
| **Passenger Airlines — 0.4%**<br>|  |  |
| Alaska Air Group, Inc.<sup>(a)</sup> | 19552 | 1008883  |
| Allegiant Travel Co.<sup>(a)</sup> | 1919 | 196026  |
| SkyWest, Inc.<sup>(a)</sup> | 5115 | 532369  |
|  Sun Country Airlines Holdings, Inc.<sup>(a)</sup> | 5857 | 115266  |
|  |  | 1852544  |
| **Personal Care Products — 0.0%<sup>(b)</sup>**<br>|  |  |
| Medifast, Inc.<sup>(a)</sup> | 873 | 9193  |
| &nbsp;&nbsp;&nbsp; Nature's Sunshine Products, <br>Inc.<sup>(a)</sup> | 1484 | 41077  |
| &nbsp;&nbsp;&nbsp; Nu Skin Enterprises, Inc. - <br>Class A | 6774 | 57443  |
|  |  | 107713  |
| **Pharmaceuticals — 0.4%**<br>|  |  |
| Amneal Pharmaceuticals, Inc.<sup>(a)</sup> | 43209 | 596716  |
| &nbsp;&nbsp;&nbsp; Amphastar Pharmaceuticals, <br>Inc.<sup>(a)</sup> | 4014 | 81203  |
| ANI Pharmaceuticals, Inc.<sup>(a)</sup> | 2502 | 184898  |
| Collegium Pharmaceutical, Inc.<sup>(a)</sup> | 1186 | 49421  |
| Crinetics Pharmaceuticals, Inc.<sup>(a)</sup> | 11440 | 470184  |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value**  |
| Edgewise Therapeutics, Inc.<sup>(a)</sup> | 13128 | $399616  |
|  Harmony Biosciences Holdings, Inc.<sup>(a)</sup> | 5007 | 142900  |
| Innoviva, Inc.<sup>(a)</sup> | 4982 | 114387  |
| Pacira BioSciences, Inc.<sup>(a)</sup> | 3966 | 86895  |
| SIGA Technologies, Inc. | 1642 | 10624  |
|  |  | 2136844  |
| **Professional Services — 1.3%**<br>|  |  |
| Alight, Inc. - Class A | 77690 | 68344  |
| Clarivate PLC<sup>(a)</sup> | 14470 | 33281  |
| Conduent, Inc.<sup>(a)</sup> | 133937 | 195548  |
| CRA International, Inc. | 668 | 115337  |
| Exponent, Inc. | 2184 | 158952  |
| First Advantage Corp.<sup>(a)</sup> | 35968 | 413992  |
| FTI Consulting, Inc.<sup>(a)</sup> | 18072 | 2971398  |
| IBEX Holdings Ltd.<sup>(a)</sup> | 1278 | 36934  |
| KBR, Inc. | 27405 | 1157313  |
| Kelly Services, Inc. - Class A | 3199 | 31062  |
| Kforce, Inc. | 209 | 5647  |
| ManpowerGroup, Inc. | 16863 | 471658  |
| Maximus, Inc. | 11747 | 888191  |
| Resources Connection, Inc. | 69 | 260  |
| TrueBlue, Inc.<sup>(a)</sup> | 3188 | 13485  |
| Upwork, Inc.<sup>(a)</sup> | 2774 | 37227  |
| Verra Mobility Corp.<sup>(a)</sup> | 21196 | 354185  |
|  |  | 6952814  |
|  **Real Estate Management & Development — 0.8%**<br>|  |  |
| Colliers International Group, Inc. | 5981 | 710124  |
| Cushman & Wakefield Ltd.<sup>(a)</sup> | 134950 | 1809680  |
| Douglas Elliman, Inc.<sup>(a)</sup> | 2437 | 5556  |
| FirstService Corp. | 3439 | 541900  |
| FirstService Corp. | 1939 | 305528  |
| Forestar Group, Inc.<sup>(a)</sup> | 1993 | 57239  |
| Howard Hughes Holdings, Inc.<sup>(a)</sup> | 3392 | 245479  |
| Newmark Group, Inc. - Class A | 29212 | 424158  |
| Opendoor Technologies, Inc.<sup>(a)</sup> | 41649 | 225738  |
|  |  | 4325402  |
|  **Semiconductors & Semiconductor Equipment — 3.9%**<br>|  |  |
| Amkor Technology, Inc. | 9460 | 452377  |
| CEVA, Inc.<sup>(a)</sup> | 12103 | 252469  |
| Cohu, Inc.<sup>(a)</sup> | 8762 | 264612  |
|  Credo Technology Group Holding Ltd.<sup>(a)</sup> | 6107 | 685633  |
| Diodes, Inc.<sup>(a)</sup> | 6296 | 429576  |
| Impinj, Inc.<sup>(a)</sup> | 4565 | 559943  |
|  indie Semiconductor, Inc. - Class A<sup>(a)</sup> | 72158 | 264098  |
| Lattice Semiconductor Corp.<sup>(a)</sup> | 9660 | 923689  |
|  MACOM Technology Solutions Holdings, Inc.<sup>(a)</sup> | 6944 | 1722945  |
| Melexis NV | 3421 | 230001  |
| MKS, Inc. | 10831 | 2647746  |

---

The accompanying notes are an integral part of these financial statements.

17<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**COLUMN SMALL CAP FUND** 

**SCHEDULE OF INVESTMENTS** 

**February 28, 2026 (Unaudited)(Continued)** 

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value**  |
| **COMMON STOCKS — (Continued)**  | **COMMON STOCKS — (Continued)**  | **COMMON STOCKS — (Continued)**  |
| &nbsp;&nbsp;&nbsp; **Semiconductors & Semiconductor** <br>**Equipment — (Continued)**  | &nbsp;&nbsp;&nbsp; **Semiconductors & Semiconductor** <br>**Equipment — (Continued)**  | &nbsp;&nbsp;&nbsp; **Semiconductors & Semiconductor** <br>**Equipment — (Continued)**  |
| NVE Corp. | 4953 | $340965  |
| Onto Innovation, Inc.<sup>(a)</sup> | 9012 | 1945601  |
| Penguin Solutions, Inc.<sup>(a)</sup> | 3256 | 67660  |
| Photronics, Inc.<sup>(a)</sup> | 7677 | 287350  |
| Power Integrations, Inc. | 6580 | 315314  |
| Rambus, Inc.<sup>(a)</sup> | 11245 | 1120677  |
| Semtech Corp.<sup>(a)</sup> | 15318 | 1381990  |
| Silicon Laboratories, Inc.<sup>(a)</sup> | 6415 | 1312060  |
|  Silicon Motion Technology Corp. - ADR | 8137 | 1051544  |
| SiTime Corp.<sup>(a)</sup> | 2227 | 886079  |
| SkyWater Technology, Inc.<sup>(a)</sup> | 790 | 23273  |
| Ultra Clean Holdings, Inc.<sup>(a)</sup> | 20268 | 1229862  |
| Veeco Instruments, Inc.<sup>(a)</sup> | 46744 | 1428497  |
|  |  | 19823961  |
| **Software — 3.4%**<br>|  |  |
| ACI Worldwide, Inc.<sup>(a)</sup> | 51930 | 2060582  |
| Adeia, Inc. | 34898 | 722040  |
| Agilysys, Inc.<sup>(a)</sup> | 8696 | 627590  |
| Appfolio, Inc. - Class A<sup>(a)</sup> | 15246 | 2710129  |
| BlackLine, Inc.<sup>(a)</sup> | 3466 | 122177  |
|  CCC Intelligent Solutions Holdings, Inc.<sup>(a)</sup> | 20896 | 121824  |
| Cognyte Software Ltd.<sup>(a)</sup> | 61068 | 432972  |
| Commvault Systems, Inc.<sup>(a)</sup> | 928 | 78954  |
| Computer Modelling Group Ltd. | 4587 | 13807  |
| Core Scientific, Inc.<sup>(a)</sup> | 30244 | 513241  |
| Descartes Systems Group, Inc.<sup>(a)</sup> | 3601 | 238566  |
| Elastic NV<sup>(a)</sup> | 4169 | 217080  |
| Fair Isaac Corp.<sup>(a)</sup> | 86 | 121205  |
| Klaviyo, Inc. - Class A<sup>(a)</sup> | 27586 | 480272  |
| LiveRamp Holdings, Inc.<sup>(a)</sup> | 9313 | 253034  |
| Manhattan Associates, Inc.<sup>(a)</sup> | 1536 | 208021  |
| nCino, Inc.<sup>(a)</sup> | 141228 | 2279420  |
| NCR Voyix Corp.<sup>(a)</sup> | 110189 | 841844  |
| Netskope, Inc. - Class A<sup>(a)</sup> | 2793 | 30164  |
| OneSpan, Inc. | 17429 | 192416  |
|  Pagaya Technologies Ltd. - Class A<sup>(a)</sup> | 6265 | 70105  |
| Pegasystems, Inc. | 17444 | 762826  |
| Q2 Holdings, Inc.<sup>(a)</sup> | 12758 | 613915  |
| Qualys, Inc.<sup>(a)</sup> | 816 | 75456  |
| Radware Ltd.<sup>(a)</sup> | 17767 | 411306  |
| Riot Platforms, Inc.<sup>(a)</sup> | 24141 | 393257  |
| SPS Commerce, Inc.<sup>(a)</sup> | 2270 | 128278  |
| Teradata Corp.<sup>(a)</sup> | 52376 | 1649320  |
| Tyler Technologies, Inc.<sup>(a)</sup> | 423 | 150034  |
| UiPath, Inc. - Class A<sup>(a)</sup> | 26623 | 285665  |
| Varonis Systems, Inc.<sup>(a)</sup> | 23861 | 551189  |
| Xperi, Inc.<sup>(a)</sup> | 28088 | 172179  |
|  |  | 17528868  |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value**  |
| **Specialty Retail — 3.2%**<br>|  |  |
|  Abercrombie & Fitch Co. - Class A<sup>(a)</sup> | 4205 | $411249  |
| &nbsp;&nbsp;&nbsp; Academy Sports & Outdoors, <br>Inc. | 16910 | 1016798  |
| Advance Auto Parts, Inc. | 13410 | 713010  |
| American Eagle Outfitters, Inc. | 19911 | 489213  |
| Arhaus, Inc.<sup>(a)</sup> | 3318 | 27373  |
| Asbury Automotive Group, Inc.<sup>(a)</sup> | 1408 | 301002  |
| Bath & Body Works, Inc. | 42570 | 968893  |
| Boot Barn Holdings, Inc.<sup>(a)</sup> | 4733 | 895578  |
| Buckle, Inc. | 3225 | 172699  |
| Build-A-Bear Workshop, Inc. | 1208 | 58781  |
| Caleres, Inc. | 16794 | 199681  |
| CarMax, Inc.<sup>(a)</sup> | 3054 | 131841  |
| Designer Brands, Inc. - Class A | 3789 | 26978  |
| Five Below, Inc.<sup>(a)</sup> | 4247 | 949332  |
|  Floor & Decor Holdings, Inc. - Class A<sup>(a)</sup> | 1628 | 112479  |
| Gap, Inc. | 37673 | 1056351  |
| Group 1 Automotive, Inc. | 693 | 225738  |
| Haverty Furniture Cos., Inc. | 1308 | 31143  |
| Lands' End, Inc.<sup>(a)</sup> | 1611 | 25889  |
| Murphy USA, Inc. | 258 | 100811  |
| National Vision Holdings, Inc.<sup>(a)</sup> | 26460 | 713626  |
| RealReal, Inc.<sup>(a)</sup> | 28234 | 346149  |
| Revolve Group, Inc.<sup>(a)</sup> | 58904 | 1482025  |
| Sally Beauty Holdings, Inc.<sup>(a)</sup> | 9878 | 158739  |
| Shoe Carnival, Inc. | 2062 | 41632  |
| Signet Jewelers Ltd. | 7184 | 691029  |
| Sonic Automotive, Inc. - Class A | 1543 | 96777  |
| Tile Shop Holdings, Inc.<sup>(a)</sup> | 1589 | 5323  |
| Tractor Supply Co. | 3399 | 176204  |
| Urban Outfitters, Inc.<sup>(a)</sup> | 6513 | 431161  |
| Valvoline, Inc.<sup>(a)</sup> | 56185 | 2123793  |
| Victoria's Secret & Co.<sup>(a)</sup> | 5673 | 355697  |
| Warby Parker, Inc. - Class A<sup>(a)</sup> | 45700 | 1142957  |
| Wayfair, Inc. - Class A<sup>(a)</sup> | 7239 | 552553  |
| Winmark Corp. | 476 | 217170  |
|  |  | 16449674  |
|  **Technology Hardware, Storage & Peripherals — 0.0%<sup>(b)</sup>**<br>|  |  |
| Diebold Nixdorf, Inc.<sup>(a)</sup> | 2661 | 212880  |
|  **Textiles, Apparel & Luxury Goods — 0.5%**<br>|  |  |
| Carter's, Inc. | 3533 | 118532  |
| Columbia Sportswear Co. | 3448 | 213569  |
| Crocs, Inc.<sup>(a)</sup> | 7199 | 653021  |
| Dr Martens PLC | 441459 | 410996  |
| Ermenegildo Zegna NV | 3593 | 40493  |
| G-III Apparel Group Ltd. | 5445 | 166563  |
| Movado Group, Inc. | 1330 | 33183  |
| Oxford Industries, Inc. | 1591 | 62988  |
| PVH Corp. | 4695 | 322077  |

---

The accompanying notes are an integral part of these financial statements.

18<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**COLUMN SMALL CAP FUND** 

**SCHEDULE OF INVESTMENTS** 

**February 28, 2026 (Unaudited)(Continued)** 

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value**  |
| **COMMON STOCKS — (Continued)**  | **COMMON STOCKS — (Continued)**  | **COMMON STOCKS — (Continued)**  |
| **Textiles, Apparel & Luxury Goods — (Continued)** | **Textiles, Apparel & Luxury Goods — (Continued)** | **Textiles, Apparel & Luxury Goods — (Continued)** |
| Rocky Brands, Inc. | 884 | $39957  |
| Superior Group of Cos., Inc. | 1445 | 14349  |
| Under Armour, Inc. - Class C<sup>(a)</sup> | 40074 | 289735  |
| Unifi, Inc.<sup>(a)</sup> | 750 | 2947  |
| Vera Bradley, Inc.<sup>(a)</sup> | 2217 | 5853  |
|  |  | 2374263  |
| **Trading Companies & Distributors — 2.1%**<br>|  |  |
| AerCap Holdings NV | 10001 | 1494549  |
| Air Lease Corp. | 10979 | 711878  |
|  Applied Industrial Technologies, Inc. | 2055 | 580702  |
| Boise Cascade Co. | 2458 | 203375  |
| DNOW, Inc.<sup>(a)</sup> | 11339 | 133573  |
| GATX Corp. | 14078 | 2592745  |
| Herc Holdings, Inc. | 6352 | 887946  |
| Hudson Technologies, Inc.<sup>(a)</sup> | 4829 | 34334  |
| Karat Packaging, Inc. | 860 | 21199  |
| NPK International, Inc.<sup>(a)</sup> | 10115 | 145959  |
| Rush Enterprises, Inc. - Class A | 16611 | 1178883  |
| Rush Enterprises, Inc. - Class B | 950 | 61418  |
| &nbsp;&nbsp;&nbsp; SiteOne Landscape Supply, <br>Inc.<sup>(a)</sup> | 5426 | 775321  |
| Titan Machinery, Inc.<sup>(a)</sup> | 2297 | 44769  |
| Transcat, Inc.<sup>(a)</sup> | 1278 | 99646  |
| Watsco, Inc. | 366 | 152743  |
| WESCO International, Inc. | 5770 | 1670415  |
|  |  | 10789455  |
| **Water Utilities — 0.1%**<br>|  |  |
| American States Water Co. | 3987 | 297151  |
| Middlesex Water Co. | 2505 | 135270  |
|  |  | 432421  |
|  **Wireless Telecommunication Services — 0.1%**<br>|  |  |
| Array Digital Infrastructure, Inc. | 1872 | 91223  |
| &nbsp;&nbsp;&nbsp; Telephone and Data Systems, <br>Inc. | 9556 | 427631  |
|  |  | 518854  |
| &nbsp;&nbsp;&nbsp; **TOTAL COMMON STOCKS** <br>**(Cost $414,601,087)** |  | 487743463  |
| **REAL ESTATE INVESTMENT TRUSTS — 1.0%** | **REAL ESTATE INVESTMENT TRUSTS — 1.0%** | **REAL ESTATE INVESTMENT TRUSTS — 1.0%** |
| **Diversified REITs — 0.2%**<br>|  |  |
| Broadstone Net Lease, Inc. | 44657 | 865899  |
| **Health Care REITs — 0.1%**<br>|  |  |
| American Healthcare REIT, Inc. | 9879 | 516079  |
| **Industrial REITs — 0.0%<sup>(b)</sup>**<br>|  |  |
| STAG Industrial, Inc. | 6604 | 259009  |
| **Residential REITs — 0.1%**<br>|  |  |
| Independence Realty Trust, Inc. | 33744 | 559138  |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value**  |
| **Retail REITs — 0.5%**<br>|  |  |
| Brixmor Property Group, Inc. | 33721 | $1020735  |
| Getty Realty Corp. | 30459 | 999665  |
| Kite Realty Group Trust | 18905 | 492475  |
|  |  | 2512875  |
| **Specialized REITs — 0.1%**<br>|  |  |
| National Storage Affiliates Trust | 16162 | 565993  |
| &nbsp;&nbsp;&nbsp; **TOTAL REAL ESTATE** <br>**INVESTMENT TRUSTS** <br>**(Cost $4,541,802)** |  | 5278993  |
| **EXCHANGE TRADED FUNDS — 0.8%**<br>|  |  |
| iShares Russell 2000 Value ETF | 19473 | 3846891  |
| &nbsp;&nbsp;&nbsp; **TOTAL EXCHANGE TRADED FUNDS** <br>**(Cost $3,225,908)** |  | 3846891 |

---

---

| | | |
|:---|:---|:---|
|  | **Contracts** |  |
| **RIGHTS — 0.0%<sup>(b)</sup>**<br>|  |  |
| **Capital Markets — 0.0%<sup>(b)</sup>**<br>|  |  |
| &nbsp;&nbsp;&nbsp; InvestIndustrial Advisor - CVR,<br>Expires 2/10/2027<sup>(a)(c)</sup> | 13188 | 23079  |
| **Pharmaceuticals — 0.0%<sup>(b)</sup>**<br>|  |  |
| Novo Nordisk AS - CVR<sup>(a)(c)</sup> | 8181 | 5318  |
| &nbsp;&nbsp;&nbsp; **TOTAL RIGHTS** <br>**(Cost $0)** |  | 28397  |
| **WARRANTS — 0.0%<sup>(b)</sup>**<br>|  |  |
|  **Real Estate Management & Development — 0.0%<sup>(b)</sup>**<br>|  |  |
|  Opendoor Technologies, Inc., Expires 11/20/2026, Exercise Price $9.00<sup>(a)</sup> | 1388 | 1167  |
| &nbsp;&nbsp;&nbsp; **TOTAL WARRANTS** <br>**(Cost $0)** |  | 1167 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** |  |
| **SHORT-TERM INVESTMENTS**<br>|  |  |
| **MONEY MARKET FUNDS — 3.3%**<br>|  |  |
|  First American Government Obligations Fund - Class X, 3.60%<sup>(d)</sup> | 17230328 | 17230328  |
| &nbsp;&nbsp;&nbsp; **TOTAL MONEY MARKET FUNDS** <br>**(Cost $17,230,328)** |  | 17230328  |
| &nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS — 99.9%** <br>**(Cost $439,599,125)** |  | $514129239  |
| &nbsp;&nbsp;&nbsp; Other Assets in Excess of <br>Liabilities — 0.1% |  | 312648  |
| &nbsp;&nbsp;&nbsp; **TOTAL NET** <br>**ASSETS — 100.0%** |  | $514441887 |

---

The accompanying notes are an integral part of these financial statements.

19<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**COLUMN SMALL CAP FUND** 

**SCHEDULE OF INVESTMENTS** 

**February 28, 2026 (Unaudited)(Continued)** 

Percentages are stated as a percent of net assets.

ADR - American Depositary Receipt

LP - Limited Partnership

PLC - Public Limited Company

REIT - Real Estate Investment Trust

The Global Industry Classification Standard ("GICS<sup>®</sup>") was developed by and/or is the exclusive property of MSCI, Inc. ("MSCI") and Standard & Poor's Financial Services LLC ("S&P"). GICS<sup>®</sup> is a service mark of MSCI and S&P and has been licensed for use by the Adviser.

<sup>(a)</sup> Non-income producing security.

<sup>(b)</sup> Represents less than 0.05% of net assets.

<sup>(c)</sup> Fair value determined using significant unobservable inputs in accordance with procedures established by and under the supervision of the Adviser, acting as Valuation Designee. These securities represented $518,481 or 0.1% of net assets as of February 28, 2026.

<sup>(d)</sup> The rate shown represents the 7-day annualized yield as of February 28, 2026.

The accompanying notes are an integral part of these financial statements.

20<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**COLUMN SMALL CAP FUND** 

**SCHEDULE OF FORWARD CURRENCY CONTRACTS** 

**February 28, 2026 (Unaudited)** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Settlement** <br>**Date** | **Currency** <br>**Purchased** | **Currency** <br>**Purchased** | **Currency** <br>**Sold** | **Currency** <br>**Sold** | **Unrealized** <br>**Appreciation** <br>(Depreciation)  |
| Citibank Global Markets, Inc. | 03/27/2026 | CAD | 463809 | USD | 338572 | &nbsp;&nbsp;&nbsp; $1868  |
| Citibank Global Markets, Inc. | 03/27/2026 | USD | 1759440 | CAD | 2407736 | &nbsp;&nbsp;&nbsp; (7855)  |
|  **Net Unrealized Appreciation (Depreciation)** |  |  |  |  |  | &nbsp;&nbsp;&nbsp; $(5987) |

---

CAD - Canadian Dollar

USD - United States Dollar

The accompanying notes are an integral part of these financial statements.

21<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Column Mid Cap Select Fund** 

**Schedule of Investments** 

**February 28, 2026 (Unaudited)** 

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value**  |
| **COMMON STOCKS — 93.8%**<br>|  |  |
| **Aerospace & Defense — 4.8%**<br>|  |  |
| General Dynamics Corp. | 46127 | $16469645  |
| HEICO Corp. - Class A | 141101 | 33879761  |
| Hexcel Corp. | 281415 | 26084356  |
| Howmet Aerospace, Inc. | 35213 | 9244469  |
| L3Harris Technologies, Inc. | 21768 | 7935307  |
| Textron, Inc. | 118043 | 11644942  |
| Woodward, Inc. | 101364 | 39203541  |
|  |  | 144462021  |
| **Air Freight & Logistics — 1.8%**<br>|  |  |
| CH Robinson Worldwide, Inc. | 236513 | 43814033  |
|  Expeditors International of Washington, Inc. | 69967 | 10147314  |
|  |  | 53961347  |
| **Automobile Components — 0.1%**<br>|  |  |
| Gentex Corp. | 159484 | 3731926  |
| **Banks — 2.0%**<br>|  |  |
| East West Bancorp, Inc. | 233304 | 25535123  |
| Fifth Third Bancorp | 123107 | 6090103  |
| Huntington Bancshares, Inc. | 585045 | 9828756  |
| Wintrust Financial Corp. | 125009 | 18008797  |
|  |  | 59462779  |
| **Beverages — 0.6%**<br>|  |  |
| Coca-Cola Consolidated, Inc. | 57468 | 11631523  |
|  Coca-Cola Europacific Partners PLC | 50744 | 5603660  |
|  |  | 17235183  |
| **Biotechnology — 0.3%**<br>|  |  |
| Biogen, Inc.<sup>(a)</sup> | 32019 | 6141885  |
| Halozyme Therapeutics, Inc.<sup>(a)</sup> | 44052 | 3062935  |
|  |  | 9204820  |
| **Broadline Retail — 0.4%**<br>|  |  |
| eBay, Inc. | 119318 | 10841233  |
| **Building Products — 4.7%**<br>|  |  |
|  Advanced Drainage Systems, Inc. | 201778 | 34572642  |
| Allegion PLC | 193419 | 31169472  |
| Builders FirstSource, Inc.<sup>(a)</sup> | 45163 | 4710049  |
| Carlisle Cos., Inc. | 9604 | 3791371  |
| Lennox International, Inc. | 41448 | 23622873  |
| Masco Corp. | 428863 | 30715168  |
| Masterbrand, Inc.<sup>(a)</sup> | 185881 | 1881116  |
| Resideo Technologies, Inc.<sup>(a)</sup> | 112770 | 4364199  |
| UFP Industries, Inc. | 50071 | 5152807  |
|  |  | 139979697  |
| **Capital Markets — 7.9%**<br>|  |  |
| Affiliated Managers Group, Inc. | 27907 | 8544565  |
| Ameriprise Financial, Inc. | 33026 | 15526183  |
| Carlyle Group, Inc. | 54704 | 2844061  |
| Evercore, Inc. - Class A | 14240 | 4397882  |
| Hamilton Lane, Inc. - Class A | 238778 | 25057363  |
| Houlihan Lokey, Inc. | 311711 | 51048910  |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value**  |
| Intercontinental Exchange, Inc. | 111054 | $18227293  |
| LPL Financial Holdings, Inc. | 125860 | 37805827  |
| MSCI, Inc. | 47428 | 27120753  |
| &nbsp;&nbsp;&nbsp; Raymond James Financial, <br>Inc. | 125396 | 19195620  |
| Stifel Financial Corp. | 367038 | 27179164  |
|  |  | 236947621  |
| **Chemicals — 2.2%**<br>|  |  |
| Albemarle Corp. | 141289 | 25244106  |
| CF Industries Holdings, Inc. | 97108 | 9666130  |
| Eastman Chemical Co. | 139932 | 10566266  |
| NewMarket Corp. | 4226 | 2645518  |
| Scotts Miracle-Gro Co. | 277152 | 19433898  |
|  |  | 67555918  |
|  **Commercial Services & Supplies — 1.1%**<br>|  |  |
| Copart, Inc.<sup>(a)</sup> | 92103 | 3508203  |
| RB Global, Inc. | 62922 | 6352605  |
| Republic Services, Inc. | 103302 | 23656158  |
|  |  | 33516966  |
| **Construction & Engineering — 1.6%**<br>|  |  |
| EMCOR Group, Inc. | 67322 | 48782868  |
| **Consumer Finance — 0.3%**<br>|  |  |
| Credit Acceptance Corp.<sup>(a)</sup> | 9808 | 4640949  |
| Synchrony Financial | 65552 | 4530299  |
|  |  | 9171248  |
|  **Consumer Staples Distribution & Retail — 1.3%**<br>|  |  |
| Sysco Corp. | 259523 | 23658117  |
| US Foods Holding Corp.<sup>(a)</sup> | 162090 | 15659515  |
|  |  | 39317632  |
| **Containers & Packaging — 1.1%**<br>|  |  |
| Ball Corp. | 129174 | 8671451  |
| Packaging Corp. of America | 111237 | 25822557  |
|  |  | 34494008  |
| **Distributors — 0.9%**<br>|  |  |
| LKQ Corp. | 173680 | 5750545  |
| Pool Corp. | 87828 | 19952765  |
|  |  | 25703310  |
| **Diversified Consumer Services — 0.3%**<br>|  |  |
| Frontdoor, Inc.<sup>(a)</sup> | 118349 | 8115191  |
| **Electric Utilities — 1.0%**<br>|  |  |
| Entergy Corp. | 55690 | 5964956  |
| FirstEnergy Corp. | 107216 | 5485170  |
| NRG Energy, Inc. | 14752 | 2640018  |
| OGE Energy Corp. | 155479 | 7640238  |
| Xcel Energy, Inc. | 83430 | 6954725  |
|  |  | 28685107  |
| **Electrical Equipment — 3.6%**<br>|  |  |
| AMETEK, Inc. | 268214 | 64162153  |
| Generac Holdings, Inc.<sup>(a)</sup> | 44176 | 9955945  |

---

The accompanying notes are an integral part of these financial statements.

22<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Column Mid Cap Select Fund** 

**Schedule of Investments** 

**February 28, 2026 (Unaudited)(Continued)** 

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value**  |
| **COMMON STOCKS — (Continued)**  | **COMMON STOCKS — (Continued)**  | **COMMON STOCKS — (Continued)**  |
| **Electrical Equipment — (Continued)** | **Electrical Equipment — (Continued)** | **Electrical Equipment — (Continued)** |
|  Sensata Technologies Holding PLC | 376771 | $14068629  |
| Vertiv Holdings Co. - Class A | 76943 | 19612002  |
|  |  | 107798729  |
|  **Electronic Equipment, Instruments & Components — 5.2%**<br>|  |  |
| Arrow Electronics, Inc.<sup>(a)</sup> | 149750 | 22785960  |
| CDW Corp. | 56089 | 6878755  |
| Flex Ltd.<sup>(a)</sup> | 93192 | 5872960  |
| Jabil, Inc. | 16440 | 4356436  |
| Keysight Technologies, Inc.<sup>(a)</sup> | 168038 | 51643118  |
| TE Connectivity PLC | 10928 | 2515079  |
| Teledyne Technologies, Inc.<sup>(a)</sup> | 77353 | 52685128  |
| Vontier Corp. | 87437 | 3577922  |
|  Zebra Technologies Corp. - Class A<sup>(a)</sup> | 29198 | 6539184  |
|  |  | 156854542  |
| **Energy Equipment & Services — 1.2%**<br>|  |  |
| Helmerich & Payne, Inc. | 230443 | 8116202  |
| SLB Ltd. | 215325 | 11054786  |
| TechnipFMC PLC | 237935 | 15777470  |
|  |  | 34948458  |
| **Financial Services — 1.6%**<br>|  |  |
| Corpay, Inc.<sup>(a)</sup> | 13993 | 4549124  |
| Equitable Holdings, Inc. | 12505 | 502951  |
| Global Payments, Inc. | 135281 | 10343585  |
| Jack Henry & Associates, Inc. | 123351 | 20039604  |
| Rocket Cos., Inc. - Class A | 266702 | 4851309  |
| Voya Financial, Inc. | 59192 | 3958761  |
| WEX, Inc.<sup>(a)</sup> | 29371 | 4381860  |
|  |  | 48627194  |
| **Food Products — 0.3%**<br>|  |  |
| Cal-Maine Foods, Inc. | 34907 | 3040749  |
| McCormick & Co Inc. | 90836 | 6452989  |
|  |  | 9493738  |
| **Ground Transportation — 2.3%**<br>|  |  |
| CSX Corp. | 445187 | 19005033  |
| Landstar System, Inc. | 28166 | 4589650  |
| &nbsp;&nbsp;&nbsp; Old Dominion Freight Line, <br>Inc. | 225357 | 45758739  |
|  |  | 69353422  |
|  **Health Care Equipment & Supplies — 2.7%**<br>|  |  |
| Align Technology, Inc.<sup>(a)</sup> | 143468 | 27273267  |
| Cooper Cos., Inc.<sup>(a)</sup> | 380181 | 31809744  |
|  GE HealthCare Technologies, Inc. | 76966 | 6485925  |
| Solventum Corp.<sup>(a)</sup> | 112380 | 8338596  |
| STERIS PLC | 24815 | 6262065  |
|  |  | 80169597  |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value**  |
|  **Health Care Providers & Services — 3.8%**<br>|  |  |
| Cencora, Inc. | 96319 | $35844153  |
| Centene Corp.<sup>(a)</sup> | 433776 | 19467867  |
| Cigna Group | 26948 | 7810069  |
| Labcorp Holdings, Inc. | 84957 | 24562768  |
| McKesson Corp. | 8016 | 7914758  |
| Quest Diagnostics, Inc. | 35329 | 7486568  |
| Tenet Healthcare Corp.<sup>(a)</sup> | 47633 | 11402864  |
|  |  | 114489047  |
| **Hotels, Restaurants & Leisure — 2.5%**<br>|  |  |
| Boyd Gaming Corp. | 77547 | 6454237  |
| Churchill Downs, Inc. | 33907 | 3117071  |
| Darden Restaurants, Inc. | 113144 | 24195844  |
| Domino's Pizza, Inc. | 67191 | 27045050  |
|  Marriott International, Inc. - Class A | 10714 | 3661295  |
| &nbsp;&nbsp;&nbsp; Wyndham Hotels & Resorts, <br>Inc. | 50468 | 4128282  |
| Yum! Brands, Inc. | 36262 | 6097818  |
|  |  | 74699597  |
| **Household Durables — 1.9%**<br>|  |  |
| Cavco Industries, Inc.<sup>(a)</sup> | 7025 | 4055251  |
| DR Horton, Inc. | 157646 | 25284842  |
| NVR, Inc.<sup>(a)</sup> | 1288 | 9682914  |
| Somnigroup International, Inc. | 108866 | 9744596  |
| TopBuild Corp.<sup>(a)</sup> | 21340 | 9566722  |
|  |  | 58334325  |
| **Industrial Conglomerates — 0.2%**<br>|  |  |
| 3M Co. | 35974 | 5947222  |
| **Insurance — 3.5%**<br>|  |  |
| Arch Capital Group Ltd.<sup>(a)</sup> | 60143 | 6023322  |
| Brown & Brown, Inc. | 211329 | 15177649  |
| First American Financial Corp. | 92130 | 6459234  |
| Markel Group, Inc.<sup>(a)</sup> | 5126 | 10623481  |
| Progressive Corp. | 48646 | 10393705  |
|  Reinsurance Group of America, Inc. | 107566 | 23205213  |
| RenaissanceRe Holdings Ltd. | 96220 | 29102701  |
| Travelers Cos., Inc. | 19013 | 5868172  |
|  |  | 106853477  |
| **IT Services — 1.3%**<br>|  |  |
| Akamai Technologies, Inc.<sup>(a)</sup> | 171524 | 16876246  |
| EPAM Systems, Inc.<sup>(a)</sup> | 28587 | 4030767  |
| Twilio, Inc. - Class A<sup>(a)</sup> | 147879 | 17887444  |
|  |  | 38794457  |
| &nbsp;&nbsp;&nbsp; **Life Sciences Tools &** <br>**Services — 3.6%**<br>|  |  |
| Agilent Technologies, Inc. | 117838 | 14303177  |
|  Bio-Rad Laboratories, Inc. - Class A<sup>(a)</sup> | 42832 | 11926142  |
| IQVIA Holdings, Inc.<sup>(a)</sup> | 150514 | 26913408  |

---

The accompanying notes are an integral part of these financial statements.

23<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Column Mid Cap Select Fund** 

**Schedule of Investments** 

**February 28, 2026 (Unaudited)(Continued)** 

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value**  |
| **COMMON STOCKS — (Continued)**  | **COMMON STOCKS — (Continued)**  | **COMMON STOCKS — (Continued)**  |
| **Life Sciences Tools & Services — (Continued)**  | **Life Sciences Tools & Services — (Continued)**  | **Life Sciences Tools & Services — (Continued)**  |
| QIAGEN NV | 479958 | $23901908  |
|  West Pharmaceutical Services, Inc. | 128717 | 32737882  |
|  |  | 109782517  |
| **Machinery — 7.0%**<br>|  |  |
|  Allison Transmission Holdings, Inc. | 56455 | 7073812  |
| Cummins, Inc. | 49034 | 28629482  |
| Dover Corp. | 121052 | 27297226  |
| ITT, Inc. | 18813 | 3807939  |
| Lincoln Electric Holdings, Inc. | 22822 | 6551055  |
| Nordson Corp. | 82560 | 24226406  |
| Parker-Hannifin Corp. | 4482 | 4523145  |
| Pentair PLC | 307207 | 30471862  |
| Snap-on, Inc. | 55818 | 21502210  |
|  Watts Water Technologies, Inc. - Class A | 21700 | 7133658  |
|  Westinghouse Air Brake Technologies Corp. | 190503 | 50283267  |
|  |  | 211500062  |
| **Metals & Mining — 0.5%**<br>|  |  |
| Commercial Metals Co. | 82355 | 6036622  |
| Reliance, Inc. | 30444 | 9609344  |
|  |  | 15645966  |
| **Multi-Utilities — 1.1%**<br>|  |  |
| CenterPoint Energy, Inc. | 93889 | 4084171  |
| DTE Energy Co. | 69072 | 10239233  |
| WEC Energy Group, Inc. | 164934 | 19290681  |
|  |  | 33614085  |
| **Oil, Gas & Consumable Fuels — 2.5%**<br>|  |  |
| Coterra Energy, Inc. | 534535 | 16351426  |
| Diamondback Energy, Inc. | 44008 | 7660913  |
| EQT Corp. | 122037 | 7495512  |
| Marathon Petroleum Corp. | 59648 | 11822830  |
| Murphy Oil Corp. | 191680 | 6354192  |
| Permian Resources Corp. | 509052 | 9310561  |
| Phillips 66 | 40339 | 6225518  |
| Range Resources Corp. | 212348 | 8765725  |
|  |  | 73986677  |
| **Paper & Forest Products — 0.1%**<br>|  |  |
| Louisiana-Pacific Corp. | 30326 | 2569825  |
| **Professional Services — 4.0%**<br>|  |  |
|  Broadridge Financial Solutions, Inc. | 164644 | 30602380  |
|  CACI International, Inc. - Class A<sup>(a)</sup> | 14534 | 8868211  |
| Equifax, Inc. | 135334 | 28279392  |
| Exponent, Inc. | 261290 | 19016686  |
| Leidos Holdings, Inc. | 22877 | 4005763  |
| TriNet Group, Inc. | 2021 | 76960  |
| Verisk Analytics, Inc. | 147460 | 30608272  |
|  |  | 121457664  |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value**  |
|  **Real Estate Management & Development — 0.9%**<br>|  |  |
| CBRE Group, Inc. - Class A<sup>(a)</sup> | 185091 | $27330537  |
|  **Semiconductors & Semiconductor Equipment — 4.7%**<br>|  |  |
| Applied Materials, Inc. | 54461 | 20275830  |
| Entegris, Inc. | 241296 | 31959655  |
| Microchip Technology, Inc. | 136104 | 10158802  |
| Monolithic Power Systems, Inc. | 40105 | 45829588  |
| Qnity Electronics, Inc. | 33955 | 4304136  |
| Skyworks Solutions, Inc. | 224822 | 13394895  |
| Universal Display Corp. | 147245 | 15709569  |
|  |  | 141632475  |
| **Software — 1.1%**<br>|  |  |
|  Check Point Software Technologies Ltd.<sup>(a)</sup> | 23101 | 3512969  |
| Gen Digital, Inc. | 182898 | 4128008  |
| InterDigital, Inc. | 23007 | 8432756  |
| Synopsys, Inc.<sup>(a)</sup> | 42638 | 17652132  |
|  |  | 33725865  |
| **Specialty Retail — 4.6%**<br>|  |  |
| AutoZone, Inc.<sup>(a)</sup> | 3919 | 14718118  |
| Murphy USA, Inc. | 8873 | 3467036  |
| Ross Stores, Inc. | 320559 | 65919753  |
| TJX Cos., Inc. | 99232 | 16041845  |
| Ulta Beauty, Inc.<sup>(a)</sup> | 35855 | 24553145  |
| Valvoline, Inc.<sup>(a)</sup> | 157887 | 5968129  |
| Williams-Sonoma, Inc. | 35301 | 7259651  |
|  |  | 137927677  |
|  **Technology Hardware, Storage & Peripherals — 0.3%**<br>|  |  |
| NetApp, Inc. | 70472 | 6978842  |
|  Seagate Technology Holdings PLC | 5657 | 2307151  |
|  |  | 9285993  |
|  **Textiles, Apparel & Luxury Goods — 0.2%**<br>|  |  |
| Ralph Lauren Corp. | 19338 | 7011959  |
|  **Trading Companies & Distributors — 0.7%**<br>|  |  |
| DNOW, Inc.<sup>(a)</sup> | 29629 | 349029  |
| GATX Corp. | 94192 | 17347341  |
|  MSC Industrial Direct Co., Inc. - Class A | 47670 | 4473353  |
|  |  | 22169723  |
| &nbsp;&nbsp;&nbsp; **TOTAL COMMON STOCKS** <br>**(Cost $2,325,968,405)** |  | 2825173705  |
|  **REAL ESTATE INVESTMENT TRUSTS — 3.1%**<br>|  |  |
| **Industrial REITs — 0.5%**<br>|  |  |
| Americold Realty Trust, Inc. | 637449 | 8535442  |
| EastGroup Properties, Inc. | 36315 | 7128998  |
|  |  | 15664440  |

---

The accompanying notes are an integral part of these financial statements.

24<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Column Mid Cap Select Fund** 

**Schedule of Investments** 

**February 28, 2026 (Unaudited)(Continued)** 

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value**  |
| &nbsp;&nbsp;&nbsp; **REAL ESTATE INVESTMENT** <br>**TRUSTS — (continued)** | &nbsp;&nbsp;&nbsp; **REAL ESTATE INVESTMENT** <br>**TRUSTS — (continued)** | &nbsp;&nbsp;&nbsp; **REAL ESTATE INVESTMENT** <br>**TRUSTS — (continued)** |
| **Office REITs — 0.5%**<br>|  |  |
| BXP, Inc. | 253265 | $14582998  |
| **Residential REITs — 0.5%**<br>|  |  |
| Equity LifeStyle Properties, Inc. | 78303 | 5258829  |
| Equity Residential | 65718 | 4154035  |
| Essex Property Trust, Inc. | 17492 | 4462384  |
|  |  | 13875248  |
| **Retail REITs — 0.7%**<br>|  |  |
| Regency Centers Corp. | 105133 | 8305507  |
| Simon Property Group, Inc. | 65968 | 13447577  |
|  |  | 21753084  |
| **Specialized REITs — 0.9%**<br>|  |  |
| Extra Space Storage, Inc. | 27328 | 4127348  |
| &nbsp;&nbsp;&nbsp; Lamar Advertising Co. - <br>Class A | 61959 | 8534233  |
| SBA Communications Corp. | 55430 | 11150299  |
| VICI Properties, Inc. | 121369 | 3666557  |
|  |  | 27478437  |
| &nbsp;&nbsp;&nbsp; **TOTAL REAL ESTATE INVESTMENT TRUSTS** <br>**(Cost $97,561,513)** |  | 93354207  |
| **SHORT-TERM INVESTMENTS**<br>|  |  |
| **MONEY MARKET FUNDS — 2.9%**<br>|  |  |
|  First American Government Obligations Fund - Class X, 3.60%<sup>(b)</sup> | 86481566 | 86481566  |
| &nbsp;&nbsp;&nbsp; **TOTAL MONEY MARKET FUNDS** <br>**(Cost $86,481,566)** |  | 86481566  |
| &nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS — 99.8%** <br>**(Cost $2,510,011,484)** |  | $3005009478  |
|  Other Assets in Excess of Liabilities — 0.2% |  | 4848411  |
| &nbsp;&nbsp;&nbsp; **TOTAL NET** <br>**ASSETS — 100.0%** |  | $3009857889 |

---

Percentages are stated as a percent of net assets.

PLC - Public Limited Company

REIT - Real Estate Investment Trust

The Global Industry Classification Standard ("GICS<sup>®</sup>") was developed by and/or is the exclusive property of MSCI, Inc. ("MSCI") and Standard & Poor's Financial Services LLC ("S&P"). GICS<sup>®</sup> is a service mark of MSCI and S&P and has been licensed for use by the Adviser.

<sup>(a)</sup> Non-income producing security.

<sup>(b)</sup> The rate shown represents the 7-day annualized yield as of February 28, 2026.

The accompanying notes are an integral part of these financial statements.

25<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Column Mid Cap Fund** 

**Schedule of Investments** 

**February 28, 2026 (Unaudited)** 

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value**  |
| **COMMON STOCKS — 94.5%**<br>|  |  |
| **Aerospace & Defense — 4.8%**<br>|  |  |
| ATI, Inc.<sup>(a)</sup> | 3522 | $576164  |
| BWX Technologies, Inc. | 16353 | 3368391  |
| Carpenter Technology Corp. | 9560 | 3805549  |
| Curtiss-Wright Corp. | 6427 | 4501021  |
| General Dynamics Corp. | 7485 | 2672519  |
| HEICO Corp. | 585 | 186884  |
| HEICO Corp. - Class A | 26277 | 6309370  |
| Hexcel Corp. | 54384 | 5040853  |
| Howmet Aerospace, Inc. | 29452 | 7732034  |
|  Huntington Ingalls Industries, Inc. | 922 | 409847  |
| Karman Holdings, Inc.<sup>(a)</sup> | 22585 | 1989964  |
| L3Harris Technologies, Inc. | 12033 | 4386510  |
| Textron, Inc. | 28007 | 2762891  |
| Woodward, Inc. | 23080 | 8926421  |
|  |  | 52668418  |
| **Air Freight & Logistics — 1.0%**<br>|  |  |
| CH Robinson Worldwide, Inc. | 41636 | 7713069  |
|  Expeditors International of Washington, Inc. | 17590 | 2551078  |
| GXO Logistics, Inc.<sup>(a)</sup> | 2287 | 143692  |
|  |  | 10407839  |
| **Automobile Components — 0.5%** | **Automobile Components — 0.5%** | **Automobile Components — 0.5%** |
| Aptiv PLC<sup>(a)</sup> | 19724 | 1450503  |
| Autoliv, Inc. | 2103 | 249248  |
| BorgWarner, Inc. | 18407 | 1059691  |
|  Cie Generale des Etablissements Michelin SCA | 22468 | 912518  |
| Gentex Corp. | 70758 | 1655737  |
| Lear Corp. | 1324 | 173775  |
|  |  | 5501472  |
| **Automobiles — 0.1%**<br>|  |  |
| Ford Motor Co. | 73829 | 1040251  |
|  Rivian Automotive, Inc. - Class A<sup>(a)</sup> | 17606 | 269900  |
|  |  | 1310151  |
| **Banks — 3.0%**<br>|  |  |
| Bank OZK | 1334 | 62111  |
| BOK Financial Corp. | 642 | 80712  |
| Citizens Financial Group, Inc. | 34328 | 2066202  |
| Columbia Banking System, Inc. | 3061 | 87085  |
| Commerce Bancshares, Inc. | 64317 | 3279524  |
| Cullen/Frost Bankers, Inc. | 1549 | 214103  |
| East West Bancorp, Inc. | 44720 | 4894604  |
| Fifth Third Bancorp | 46326 | 2291747  |
|  First Citizens BancShares, Inc. - Class A | 245 | 465047  |
| First Hawaiian, Inc. | 48020 | 1188975  |
| First Horizon Corp. | 14938 | 355375  |
| FNB Corp. | 9646 | 163886  |
| Home BancShares, Inc. | 4923 | 135186  |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value**  |
| Huntington Bancshares, Inc. | 164445 | $2762676  |
| KeyCorp | 28121 | 583229  |
| M&T Bank Corp. | 3305 | 717119  |
| Old National Bancorp | 8019 | 185239  |
| Pinnacle Financial Partners, Inc. | 4392 | 398618  |
| Popular, Inc. | 2043 | 276540  |
| Prosperity Bancshares, Inc. | 35706 | 2512631  |
| Regions Financial Corp. | 18557 | 516441  |
| SouthState Bank Corp. | 2008 | 198129  |
| Truist Financial Corp. | 41332 | 2038081  |
| US Bancorp | 40566 | 2217338  |
| Webster Financial Corp. | 4761 | 343411  |
| Westamerica BanCorp | 17098 | 866014  |
| Western Alliance Bancorp | 3002 | 241121  |
| Wintrust Financial Corp. | 22014 | 3171337  |
| Zions Bancorp NA | 4739 | 271450  |
|  |  | 32583931  |
| **Beverages — 0.7%**<br>|  |  |
| Brown-Forman Corp. - Class A | 820 | 24075  |
| Brown-Forman Corp. - Class B | 5775 | 166667  |
| Celsius Holdings, Inc.<sup>(a)</sup> | 3743 | 200662  |
| Coca-Cola Consolidated, Inc. | 12949 | 2620878  |
|  Coca-Cola Europacific Partners PLC | 9701 | 1071281  |
|  Constellation Brands, Inc. - Class A | 3341 | 527410  |
| Heineken NV | 13856 | 1283873  |
| Keurig Dr Pepper, Inc. | 5206 | 157638  |
|  Molson Coors Beverage Co. - Class B | 2463 | 120662  |
| Pernod Ricard SA | 16408 | 1516565  |
| Primo Brands Corp. - Class A | 4536 | 102877  |
|  |  | 7792588  |
| **Biotechnology — 1.0%**<br>|  |  |
| Alnylam Pharmaceuticals, Inc.<sup>(a)</sup> | 3605 | 1200177  |
|  Arrowhead Pharmaceuticals, Inc.<sup>(a)</sup> | 3067 | 194049  |
| Atrium Therapeutics, Inc.<sup>(a)</sup> | 183 | 2696  |
| Avidity Biosciences, Inc.<sup>(a)</sup> | 1828 | 131616  |
| Biogen, Inc.<sup>(a)</sup> | 7534 | 1445172  |
| BioMarin Pharmaceutical, Inc.<sup>(a)</sup> | 4394 | 271242  |
| Exelixis, Inc.<sup>(a)</sup> | 7917 | 348823  |
| Halozyme Therapeutics, Inc.<sup>(a)</sup> | 11308 | 786245  |
| Incyte Corp.<sup>(a)</sup> | 4651 | 471007  |
| Insmed, Inc.<sup>(a)</sup> | 6124 | 914497  |
| Moderna, Inc.<sup>(a)</sup> | 3046 | 163174  |
| Natera, Inc.<sup>(a)</sup> | 14066 | 2926291  |
| Neurocrine Biosciences, Inc.<sup>(a)</sup> | 2846 | 376383  |
|  Praxis Precision Medicines, Inc.<sup>(a)</sup> | 591 | 199019  |
| Revolution Medicines, Inc.<sup>(a)</sup> | 2789 | 284534  |
| Roivant Sciences Ltd.<sup>(a)</sup> | 8968 | 259534  |
| United Therapeutics Corp.<sup>(a)</sup> | 1037 | 522544  |
|  |  | 10497003  |

---

The accompanying notes are an integral part of these financial statements.

26<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Column Mid Cap Fund** 

**Schedule of Investments** 

**February 28, 2026 (Unaudited)(Continued)** 

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value**  |
| **COMMON STOCKS — (Continued)**  | **COMMON STOCKS — (Continued)**  | **COMMON STOCKS — (Continued)**  |
| **Broadline Retail — 0.3%**<br>|  |  |
| Dillard's, Inc. - Class A | 115 | $69321  |
| eBay, Inc. | 33787 | 3069887  |
|  Ollie's Bargain Outlet Holdings, Inc.<sup>(a)</sup> | 1374 | 147155  |
|  |  | 3286363  |
| **Building Products — 2.8%**<br>|  |  |
| A O Smith Corp. | 19386 | 1512108  |
| AAON, Inc. | 118 | 11942  |
|  Advanced Drainage Systems, Inc. | 37320 | 6394409  |
| Allegion PLC | 35221 | 5675864  |
| &nbsp;&nbsp;&nbsp; Armstrong World Industries, <br>Inc. | 844 | 146434  |
| Builders FirstSource, Inc.<sup>(a)</sup> | 12254 | 1277970  |
| Carlisle Cos., Inc. | 3153 | 1244710  |
| Carrier Global Corp. | 1808 | 116435  |
| &nbsp;&nbsp;&nbsp; Fortune Brands Innovations, <br>Inc. | 3295 | 179050  |
| Lennox International, Inc. | 8289 | 4724233  |
| Masco Corp. | 89156 | 6385353  |
| Masterbrand, Inc.<sup>(a)</sup> | 35541 | 359675  |
| Owens Corning | 2617 | 319457  |
| Resideo Technologies, Inc.<sup>(a)</sup> | 21609 | 836268  |
| &nbsp;&nbsp;&nbsp; Simpson Manufacturing Co., <br>Inc. | 1344 | 260158  |
| UFP Industries, Inc. | 10633 | 1094242  |
|  Zurn Elkay Water Solutions Corp. | 3476 | 177206  |
|  |  | 30715514  |
| **Capital Markets — 6.2%**<br>|  |  |
| Affiliated Managers Group, Inc. | 6116 | 1872597  |
| Ameriprise Financial, Inc. | 9107 | 4281383  |
| Bank of New York Mellon Corp. | 5272 | 627895  |
| Carlyle Group, Inc. | 17559 | 912892  |
| Cboe Global Markets, Inc. | 11174 | 3349071  |
| Evercore, Inc. - Class A | 13566 | 4189723  |
| &nbsp;&nbsp;&nbsp; FactSet Research Systems, <br>Inc. | 961 | 208354  |
| Franklin Resources, Inc. | 7210 | 191353  |
| Hamilton Lane, Inc. - Class A | 43383 | 4552612  |
| Houlihan Lokey, Inc. | 59961 | 9819813  |
| Intercontinental Exchange, Inc. | 18019 | 2957459  |
| Invesco Ltd. | 11118 | 291959  |
| Jefferies Financial Group, Inc. | 3834 | 170230  |
| LPL Financial Holdings, Inc. | 33403 | 10033593  |
| MarketAxess Holdings, Inc. | 995 | 191040  |
| Morningstar, Inc. | 664 | 121605  |
| MSCI, Inc. | 9936 | 5681703  |
| Nasdaq, Inc. | 24077 | 2108664  |
| Northern Trust Corp. | 21627 | 3094607  |
| Raymond James Financial, Inc. | 28260 | 4326041  |
|  Robinhood Markets, Inc. - Class A<sup>(a)</sup> | 8946 | 678554  |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value**  |
| SEI Investments Co. | 3268 | $265754  |
| State Street Corp. | 6015 | 773649  |
| Stifel Financial Corp. | 66524 | 4926065  |
| T Rowe Price Group, Inc. | 16044 | 1518244  |
| &nbsp;&nbsp;&nbsp; Tradeweb Markets, Inc. - <br>Class A | 2645 | 326010  |
|  |  | 67470870  |
| **Chemicals — 1.6%**<br>|  |  |
| Albemarle Corp. | 23632 | 4222329  |
| Axalta Coating Systems Ltd.<sup>(a)</sup> | 5600 | 187096  |
| CF Industries Holdings, Inc. | 24190 | 2407873  |
| Corteva, Inc. | 3894 | 311987  |
| DuPont de Nemours, Inc. | 8568 | 428743  |
| Eastman Chemical Co. | 26089 | 1969980  |
| Element Solutions, Inc. | 28229 | 990556  |
|  International Flavors & Fragrances, Inc. | 5416 | 445358  |
|  LyondellBasell Industries NV - Class A | 7538 | 433586  |
| Mosaic Co. | 5899 | 164228  |
| NewMarket Corp. | 995 | 622880  |
| PPG Industries, Inc. | 16225 | 2000056  |
| RPM International, Inc. | 3512 | 400789  |
| Scotts Miracle-Gro Co. | 44969 | 3153226  |
| Westlake Corp. | 971 | 102324  |
|  |  | 17841011  |
|  **Commercial Services & Supplies — 1.0%**<br>|  |  |
| ABM Industries, Inc. | 13643 | 607114  |
| Clean Harbors, Inc.<sup>(a)</sup> | 1308 | 383506  |
| Copart, Inc.<sup>(a)</sup> | 17601 | 670422  |
| MSA Safety, Inc. | 940 | 183685  |
| RB Global, Inc. | 12038 | 1215357  |
| Republic Services, Inc. | 19649 | 4499621  |
| Rollins, Inc. | 24880 | 1514943  |
| Tetra Tech, Inc. | 6235 | 223462  |
| Veralto Corp. | 4282 | 417195  |
| Waste Connections, Inc. | 4762 | 819683  |
|  |  | 10534988  |
| **Communications Equipment — 0.8%** | **Communications Equipment — 0.8%** | **Communications Equipment — 0.8%** |
| Ciena Corp.<sup>(a)</sup> | 3442 | 1200226  |
| F5, Inc.<sup>(a)</sup> | 7687 | 2085944  |
| Lumentum Holdings, Inc.<sup>(a)</sup> | 7470 | 5235798  |
|  |  | 8521968  |
| **Construction & Engineering — 2.6%** | **Construction & Engineering — 2.6%** | **Construction & Engineering — 2.6%** |
| AECOM | 2930 | 287081  |
| API Group Corp.<sup>(a)</sup> | 7566 | 336384  |
| Comfort Systems USA, Inc. | 5452 | 7792925  |
| Dycom Industries, Inc.<sup>(a)</sup> | 719 | 301994  |
| EMCOR Group, Inc. | 12657 | 9171515  |
| Fluor Corp.<sup>(a)</sup> | 5195 | 271751  |
| MasTec, Inc.<sup>(a)</sup> | 13122 | 3910619  |
| Primoris Services Corp. | 679 | 102339  |

---

The accompanying notes are an integral part of these financial statements.

27<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Column Mid Cap Fund** 

**Schedule of Investments** 

**February 28, 2026 (Unaudited)(Continued)** 

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value**  |
| **COMMON STOCKS — (Continued)**  | **COMMON STOCKS — (Continued)**  | **COMMON STOCKS — (Continued)**  |
| **Construction & Engineering — (Continued)**  | **Construction & Engineering — (Continued)**  | **Construction & Engineering — (Continued)**  |
| Quanta Services, Inc. | 10010 | $5636431  |
| Valmont Industries, Inc. | 232 | 106704  |
|  |  | 27917743  |
| **Construction Materials — 0.5%**<br>|  |  |
| Amrize Ltd.<sup>(a)</sup> | 18282 | 1188147  |
| Eagle Materials, Inc. | 996 | 222905  |
| &nbsp;&nbsp;&nbsp; James Hardie Industries <br>PLC<sup>(a)</sup> | 4003 | 97473  |
| Martin Marietta Materials, Inc. | 3660 | 2476246  |
| Vulcan Materials Co. | 3090 | 957900  |
|  |  | 4942671  |
| **Consumer Finance — 0.4%**<br>|  |  |
| Ally Financial, Inc. | 9368 | 369474  |
| Credit Acceptance Corp.<sup>(a)</sup> | 1866 | 882954  |
| OneMain Holdings, Inc. | 3794 | 208746  |
| SoFi Technologies, Inc.<sup>(a)</sup> | 27664 | 491312  |
| Synchrony Financial | 38234 | 2642352  |
|  |  | 4594838  |
| &nbsp;&nbsp;&nbsp; **Consumer Staples Distribution &** <br>**Retail — 1.9%** | &nbsp;&nbsp;&nbsp; **Consumer Staples Distribution &** <br>**Retail — 1.9%** | &nbsp;&nbsp;&nbsp; **Consumer Staples Distribution &** <br>**Retail — 1.9%** |
|  BJ's Wholesale Club Holdings, Inc.<sup>(a)</sup> | 3472 | 342999  |
| Casey's General Stores, Inc. | 5148 | 3529417  |
| Dollar General Corp. | 6526 | 1019622  |
| Dollar Tree, Inc.<sup>(a)</sup> | 6121 | 774184  |
| Koninklijke Ahold Delhaize NV | 45511 | 2245820  |
| Kroger Co. | 10726 | 731942  |
| Maplebear, Inc.<sup>(a)</sup> | 4529 | 169883  |
| &nbsp;&nbsp;&nbsp; Performance Food Group <br>Co.<sup>(a)</sup> | 3655 | 354754  |
| Sprouts Farmers Market, Inc.<sup>(a)</sup> | 3339 | 246652  |
| Sysco Corp. | 73092 | 6663067  |
| Target Corp. | 13028 | 1482456  |
| US Foods Holding Corp.<sup>(a)</sup> | 36050 | 3482791  |
|  |  | 21043587  |
| **Containers & Packaging — 1.1%** | **Containers & Packaging — 1.1%** | **Containers & Packaging — 1.1%** |
| AptarGroup, Inc. | 1710 | 245744  |
| Avery Dennison Corp. | 2048 | 402125  |
| Ball Corp. | 28140 | 1889038  |
| Crown Holdings, Inc. | 2937 | 336580  |
| &nbsp;&nbsp;&nbsp; Graphic Packaging Holding <br>Co. | 63800 | 780274  |
| International Paper Co. | 10217 | 444951  |
| Packaging Corp. of America | 34401 | 7985848  |
| Smurfit Westrock PLC | 8529 | 400948  |
|  |  | 12485508  |
| **Distributors — 0.5%**<br>|  |  |
| Genuine Parts Co. | 2926 | 348955  |
| LKQ Corp. | 38286 | 1267649  |
| Pool Corp. | 16562 | 3762555  |
|  |  | 5379159  |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value**  |
| **Diversified Consumer Services — 0.2%** | **Diversified Consumer Services — 0.2%** | **Diversified Consumer Services — 0.2%** |
| ADT, Inc. | 8058 | $64625  |
|  Bright Horizons Family Solutions, Inc.<sup>(a)</sup> | 896 | 66770  |
| Frontdoor, Inc.<sup>(a)</sup> | 22628 | 1551602  |
| Service Corp. International | 3549 | 298755  |
|  |  | 1981752  |
|  **Diversified Telecommunication Services — 0.0%<sup>(b)</sup>**<br>|  |  |
| Iridium Communications, Inc. | 12 | 287  |
| **Electric Utilities — 2.3%**<br>|  |  |
| Alliant Energy Corp. | 3831 | 277135  |
| Duke Energy Corp. | 13449 | 1759802  |
| Edison International | 7745 | 578861  |
| Entergy Corp. | 18972 | 2032091  |
| Evergy, Inc. | 39914 | 3339205  |
| Eversource Energy | 29553 | 2252234  |
| Exelon Corp. | 18988 | 939336  |
| FirstEnergy Corp. | 27238 | 1393496  |
| IDACORP, Inc. | 525 | 75584  |
| NRG Energy, Inc. | 17649 | 3158465  |
| OGE Energy Corp. | 33969 | 1669237  |
| PG&E Corp. | 38527 | 732013  |
| Pinnacle West Capital Corp. | 2502 | 250951  |
| PPL Corp. | 51195 | 1995581  |
| Xcel Energy, Inc. | 59634 | 4971090  |
|  |  | 25425081  |
| **Electrical Equipment — 3.5%**<br>|  |  |
| Acuity, Inc. | 985 | 297066  |
| AMETEK, Inc. | 62799 | 15022777  |
| &nbsp;&nbsp;&nbsp; Bloom Energy Corp. - <br>Class A<sup>(a)</sup> | 5714 | 889498  |
| &nbsp;&nbsp;&nbsp; Forgent Power Solutions, <br>Inc.<sup>(a)</sup> | 27557 | 947685  |
| Generac Holdings, Inc.<sup>(a)</sup> | 8937 | 2014132  |
| Hubbell, Inc. | 1304 | 667166  |
| Nextpower, Inc. - Class A<sup>(a)</sup> | 4361 | 458341  |
| nVent Electric PLC | 2559 | 302883  |
| Regal Rexnord Corp. | 4097 | 905355  |
| Rockwell Automation, Inc. | 8957 | 3649530  |
|  Sensata Technologies Holding PLC | 93607 | 3495285  |
| Vertiv Holdings Co. - Class A | 37091 | 9454125  |
|  |  | 38103843  |
| &nbsp;&nbsp;&nbsp; **Electronic Equipment, Instruments &** <br>**Components — 4.3%** | &nbsp;&nbsp;&nbsp; **Electronic Equipment, Instruments &** <br>**Components — 4.3%** | &nbsp;&nbsp;&nbsp; **Electronic Equipment, Instruments &** <br>**Components — 4.3%** |
| &nbsp;&nbsp;&nbsp; Advanced Energy Industries, <br>Inc. | 386 | 129530  |
| Arrow Electronics, Inc.<sup>(a)</sup> | 25764 | 3920250  |
| CDW Corp. | 22712 | 2785400  |
| Celestica, Inc.<sup>(a)</sup> | 8504 | 2360966  |
| Cognex Corp. | 1882 | 102381  |
| Coherent Corp.<sup>(a)</sup> | 9061 | 2346165  |

---

The accompanying notes are an integral part of these financial statements.

28<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Column Mid Cap Fund** 

**Schedule of Investments** 

**February 28, 2026 (Unaudited)(Continued)** 

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value**  |
| **COMMON STOCKS — (Continued)**  | **COMMON STOCKS — (Continued)**  | **COMMON STOCKS — (Continued)**  |
| &nbsp;&nbsp;&nbsp; **Electronic Equipment, Instruments &** <br>**Components — (Continued)**  | &nbsp;&nbsp;&nbsp; **Electronic Equipment, Instruments &** <br>**Components — (Continued)**  | &nbsp;&nbsp;&nbsp; **Electronic Equipment, Instruments &** <br>**Components — (Continued)**  |
| Fabrinet<sup>(a)</sup> | 1119 | $610560  |
| Flex Ltd.<sup>(a)</sup> | 89372 | 5632223  |
| IPG Photonics Corp.<sup>(a)</sup> | 5 | 658  |
| Jabil, Inc. | 6470 | 1714485  |
| Keysight Technologies, Inc.<sup>(a)</sup> | 32294 | 9924915  |
| Littelfuse, Inc. | 309 | 108910  |
| Ralliant Corp. | 21009 | 964103  |
| Sanmina Corp.<sup>(a)</sup> | 548 | 85083  |
| TD SYNNEX Corp. | 1367 | 214359  |
| TE Connectivity PLC | 18102 | 4166175  |
| Teledyne Technologies, Inc.<sup>(a)</sup> | 13556 | 9232992  |
| Vontier Corp. | 25261 | 1033680  |
|  Zebra Technologies Corp. - Class A<sup>(a)</sup> | 6298 | 1410500  |
|  |  | 46743335  |
| **Energy Equipment & Services — 1.5%** | **Energy Equipment & Services — 1.5%** | **Energy Equipment & Services — 1.5%** |
| Baker Hughes Co. | 79936 | 5216623  |
| Halliburton Co. | 22911 | 824796  |
| Helmerich & Payne, Inc. | 37391 | 1316911  |
| SLB Ltd. | 45349 | 2328218  |
| TechnipFMC PLC | 105670 | 7006978  |
|  |  | 16693526  |
| **Entertainment — 0.5%**<br>|  |  |
| Electronic Arts, Inc. | 5100 | 1022907  |
| &nbsp;&nbsp;&nbsp; Live Nation Entertainment, <br>Inc.<sup>(a)</sup> | 3582 | 580786  |
| Roku, Inc.<sup>(a)</sup> | 3296 | 324359  |
|  Take-Two Interactive Software, Inc.<sup>(a)</sup> | 1710 | 361631  |
| TKO Group Holdings, Inc. | 5460 | 1222330  |
| Warner Bros Discovery, Inc.<sup>(a)</sup> | 57783 | 1627747  |
|  |  | 5139760  |
| **Financial Services — 1.1%**<br>|  |  |
| Block, Inc.<sup>(a)</sup> | 6000 | 382200  |
| Corpay, Inc.<sup>(a)</sup> | 6532 | 2123553  |
| Equitable Holdings, Inc. | 8453 | 339980  |
| Essent Group Ltd. | 2889 | 175767  |
| Global Payments, Inc. | 21950 | 1678297  |
| Jack Henry & Associates, Inc. | 23899 | 3882632  |
| MGIC Investment Corp. | 8484 | 225080  |
| Rocket Cos., Inc. - Class A | 51156 | 930528  |
| &nbsp;&nbsp;&nbsp; Shift4 Payments, Inc. - <br>Class A<sup>(a)</sup> | 1355 | 59715  |
| Voya Financial, Inc. | 13974 | 934581  |
| WEX, Inc.<sup>(a)</sup> | 5613 | 837403  |
|  |  | 11569736  |
| **Food Products — 0.8%**<br>|  |  |
| Archer-Daniels-Midland Co. | 10916 | 753641  |
| Bunge Global SA | 4406 | 531584  |
| Cal-Maine Foods, Inc. | 6681 | 581982  |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value**  |
| Campbell's Co. | 3481 | $93813  |
| Conagra Brands, Inc. | 61856 | 1190728  |
| General Mills, Inc. | 13406 | 606353  |
| Hershey Co. | 2723 | 643390  |
| Hormel Foods Corp. | 5475 | 140160  |
| Ingredion, Inc. | 1914 | 224818  |
| Kraft Heinz Co. | 18942 | 466163  |
| Lamb Weston Holdings, Inc. | 3618 | 174351  |
| Magnum Ice Cream Co. NV<sup>(a)</sup> | 24787 | 393636  |
| McCormick & Co., Inc. | 17353 | 1232757  |
|  Mondelez International, Inc. - Class A | 15990 | 984664  |
| Pilgrim's Pride Corp. | 1041 | 44930  |
| Tyson Foods, Inc. - Class A | 7009 | 455515  |
|  |  | 8518485  |
| **Gas Utilities — 0.5%**<br>|  |  |
| Atmos Energy Corp. | 2933 | 547855  |
| National Fuel Gas Co. | 2171 | 197626  |
| ONE Gas, Inc. | 28940 | 2530514  |
| Southwest Gas Holdings, Inc. | 1404 | 123791  |
| Spire, Inc. | 17457 | 1599236  |
| UGI Corp. | 3999 | 149602  |
|  |  | 5148624  |
| **Ground Transportation — 2.2%**<br>|  |  |
| CSX Corp. | 134988 | 5762638  |
| &nbsp;&nbsp;&nbsp; JB Hunt Transport Services, <br>Inc. | 2394 | 558783  |
|  Knight-Swift Transportation Holdings, Inc. | 27098 | 1705006  |
| Landstar System, Inc. | 5400 | 879930  |
| Norfolk Southern Corp. | 5628 | 1771357  |
| Old Dominion Freight Line, Inc. | 44179 | 8970546  |
| Ryder System, Inc. | 1543 | 341867  |
| Saia, Inc.<sup>(a)</sup> | 722 | 292692  |
| U-Haul Holding Co. | 3142 | 148177  |
| U-Haul Holding Co. - Series N<sup>(a)</sup> | 282 | 14286  |
| XPO, Inc.<sup>(a)</sup> | 18871 | 3971779  |
|  |  | 24417061  |
|  **Health Care Equipment & Supplies — 3.5%**<br>|  |  |
| Align Technology, Inc.<sup>(a)</sup> | 26900 | 5113690  |
| Baxter International, Inc. | 8763 | 178502  |
| Becton Dickinson & Co. | 13963 | 2464190  |
| Cooper Cos., Inc.<sup>(a)</sup> | 71255 | 5961906  |
| Dexcom, Inc.<sup>(a)</sup> | 9200 | 675556  |
| Edwards Lifesciences Corp.<sup>(a)</sup> | 5625 | 486394  |
| Envista Holdings Corp.<sup>(a)</sup> | 49160 | 1435964  |
|  GE HealthCare Technologies, Inc. | 52850 | 4453670  |
| &nbsp;&nbsp;&nbsp; Globus Medical, Inc. - <br>Class A<sup>(a)</sup> | 2160 | 206194  |
| Hologic, Inc.<sup>(a)</sup> | 3968 | 299029  |
| IDEXX Laboratories, Inc.<sup>(a)</sup> | 6180 | 4058591  |
| Insulet Corp.<sup>(a)</sup> | 6469 | 1595320  |

---

The accompanying notes are an integral part of these financial statements.

29<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Column Mid Cap Fund** 

**Schedule of Investments** 

**February 28, 2026 (Unaudited)(Continued)** 

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value**  |
| **COMMON STOCKS — (Continued)**  | **COMMON STOCKS — (Continued)**  | **COMMON STOCKS — (Continued)**  |
| **Health Care Equipment & Supplies — (Continued)**  | **Health Care Equipment & Supplies — (Continued)**  | **Health Care Equipment & Supplies — (Continued)**  |
| Masimo Corp.<sup>(a)</sup> | 1206 | $211472  |
| Medtronic PLC | 17564 | 1715300  |
| ResMed, Inc. | 2878 | 737516  |
| Solventum Corp.<sup>(a)</sup> | 24529 | 1820052  |
| STERIS PLC | 6817 | 1720270  |
| Teleflex, Inc. | 289 | 35275  |
| Zimmer Biomet Holdings, Inc. | 48028 | 4727876  |
|  |  | 37896767  |
|  **Health Care Providers & Services — 4.3%**<br>|  |  |
| Cencora, Inc. | 31293 | 11645377  |
| Centene Corp.<sup>(a)</sup> | 88357 | 3965462  |
| Chemed Corp. | 360 | 147604  |
| Cigna Group | 5126 | 1485617  |
| DaVita, Inc.<sup>(a)</sup> | 1254 | 196000  |
| Encompass Health Corp. | 21082 | 2274326  |
| Ensign Group, Inc. | 1675 | 358735  |
| Guardant Health, Inc.<sup>(a)</sup> | 17228 | 1617709  |
| Henry Schein, Inc.<sup>(a)</sup> | 42847 | 3530164  |
| Hims & Hers Health, Inc.<sup>(a)</sup> | 4303 | 62480  |
| Humana, Inc. | 2434 | 463774  |
| Labcorp Holdings, Inc. | 31904 | 9224084  |
| McKesson Corp. | 1528 | 1508701  |
| Molina Healthcare, Inc.<sup>(a)</sup> | 1734 | 267123  |
| Quest Diagnostics, Inc. | 15149 | 3210225  |
| Tenet Healthcare Corp.<sup>(a)</sup> | 19209 | 4598443  |
|  Universal Health Services, Inc. - Class B | 9820 | 2023902  |
|  |  | 46579726  |
| **Health Care Technology — 0.1%** | **Health Care Technology — 0.1%** | **Health Care Technology — 0.1%** |
| Doximity, Inc. - Class A<sup>(a)</sup> | 2127 | 52175  |
| &nbsp;&nbsp;&nbsp; Veeva Systems, Inc. - <br>Class A<sup>(a)</sup> | 2703 | 491973  |
|  |  | 544148  |
| **Hotels, Restaurants & Leisure — 2.8%** | **Hotels, Restaurants & Leisure — 2.8%** | **Hotels, Restaurants & Leisure — 2.8%** |
| Aramark | 5364 | 224483  |
| Boyd Gaming Corp. | 15591 | 1297639  |
| Carnival Corp. | 30501 | 962307  |
| Cava Group, Inc.<sup>(a)</sup> | 2042 | 168404  |
| Churchill Downs, Inc. | 8285 | 761640  |
| Darden Restaurants, Inc. | 22008 | 4706411  |
| Domino's Pizza, Inc. | 11350 | 4568488  |
| Dutch Bros, Inc. - Class A<sup>(a)</sup> | 2745 | 147159  |
| Expedia Group, Inc. | 2207 | 476028  |
| Hilton Worldwide Holdings, Inc. | 20326 | 6337240  |
| Las Vegas Sands Corp. | 8534 | 484048  |
|  Marriott International, Inc. - Class A | 10886 | 3720073  |
| MGM Resorts International<sup>(a)</sup> | 4187 | 154333  |
|  Norwegian Cruise Line Holdings Ltd.<sup>(a)</sup> | 11884 | 294604  |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value**  |
| &nbsp;&nbsp;&nbsp; Red Rock Resorts, Inc. - <br>Class A | 1312 | $79442  |
| Sodexo SA | 14230 | 780372  |
| Texas Roadhouse, Inc. | 1877 | 343247  |
| Viking Holdings Ltd.<sup>(a)</sup> | 42698 | 3331298  |
| &nbsp;&nbsp;&nbsp; Wyndham Hotels & Resorts, <br>Inc. | 11621 | 950598  |
| Yum! Brands, Inc. | 6941 | 1167199  |
|  |  | 30955013  |
| **Household Durables — 1.9%**<br>|  |  |
| Cavco Industries, Inc.<sup>(a)</sup> | 1343 | 775260  |
| DR Horton, Inc. | 39535 | 6341019  |
| Garmin Ltd. | 4103 | 1037362  |
| &nbsp;&nbsp;&nbsp; Installed Building Products, <br>Inc. | 745 | 244181  |
| Lennar Corp. - Class A | 3528 | 403462  |
| Lennar Corp. - Class B | 140 | 14942  |
| Mohawk Industries, Inc.<sup>(a)</sup> | 14681 | 1839089  |
| NVR, Inc.<sup>(a)</sup> | 336 | 2525977  |
| PulteGroup, Inc. | 18508 | 2539298  |
| SharkNinja, Inc.<sup>(a)</sup> | 863 | 106037  |
| Somnigroup International, Inc. | 25081 | 2245000  |
| Taylor Morrison Home Corp.<sup>(a)</sup> | 3371 | 222115  |
| Toll Brothers, Inc. | 2843 | 447033  |
| TopBuild Corp.<sup>(a)</sup> | 5009 | 2245535  |
|  |  | 20986310  |
| **Household Products — 0.4%**<br>|  |  |
| Church & Dwight Co., Inc. | 5136 | 538561  |
| Clorox Co. | 2528 | 321461  |
| Kimberly-Clark Corp. | 23768 | 2648706  |
| Reckitt Benckiser Group PLC | 3944 | 346109  |
|  |  | 3854837  |
| &nbsp;&nbsp;&nbsp; **Independent Power and Renewable** <br>**Electricity Producers — 0.1%** | &nbsp;&nbsp;&nbsp; **Independent Power and Renewable** <br>**Electricity Producers — 0.1%** | &nbsp;&nbsp;&nbsp; **Independent Power and Renewable** <br>**Electricity Producers — 0.1%** |
| AES Corp. | 15892 | 274614  |
| &nbsp;&nbsp;&nbsp; Clearway Energy, Inc. - <br>Class A | 821 | 29572  |
| &nbsp;&nbsp;&nbsp; Clearway Energy, Inc. - <br>Class C | 2232 | 85508  |
| Ormat Technologies, Inc. | 677 | 70205  |
| Talen Energy Corp.<sup>(a)</sup> | 1431 | 530858  |
|  |  | 990757  |
| **Industrial Conglomerates — 0.1%** | **Industrial Conglomerates — 0.1%** | **Industrial Conglomerates — 0.1%** |
| 3M Co. | 6869 | 1135583  |
| **Insurance — 3.5%**<br>|  |  |
| Allstate Corp. | 7094 | 1521805  |
| American Financial Group, Inc. | 2037 | 270880  |
|  American International Group, Inc. | 3989 | 321075  |
| Arch Capital Group Ltd.<sup>(a)</sup> | 16430 | 1645464  |
| Assurant, Inc. | 1601 | 367574  |
| Axis Capital Holdings Ltd. | 2543 | 268846  |
| Brown & Brown, Inc. | 37519 | 2694615  |

---

The accompanying notes are an integral part of these financial statements.

30<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Column Mid Cap Fund** 

**Schedule of Investments** 

**February 28, 2026 (Unaudited)(Continued)** 

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value**  |
| **COMMON STOCKS — (Continued)**  | **COMMON STOCKS — (Continued)**  | **COMMON STOCKS — (Continued)**  |
| **Insurance — (Continued)**  | **Insurance — (Continued)**  | **Insurance — (Continued)**  |
| Cincinnati Financial Corp. | 3918 | $642474  |
| CNA Financial Corp. | 593 | 28476  |
| Erie Indemnity Co. - Class A | 750 | 202080  |
| Everest Group Ltd. | 1199 | 402252  |
| First American Financial Corp. | 20218 | 1417484  |
| Globe Life, Inc. | 2464 | 357921  |
| Hanover Insurance Group, Inc. | 3811 | 688381  |
| Hartford Insurance Group, Inc. | 8105 | 1141427  |
| Kinsale Capital Group, Inc. | 274 | 106770  |
| Loews Corp. | 4427 | 487058  |
| Markel Group, Inc.<sup>(a)</sup> | 1274 | 2640327  |
| Marsh & McLennan Cos., Inc. | 16075 | 3001845  |
| &nbsp;&nbsp;&nbsp; Old Republic International <br>Corp. | 6129 | 262750  |
| Primerica, Inc. | 1056 | 267865  |
| Principal Financial Group, Inc. | 6087 | 580821  |
| Progressive Corp. | 7894 | 1686632  |
| Prudential Financial, Inc. | 3262 | 320916  |
|  Reinsurance Group of America, Inc. | 31983 | 6899693  |
| RenaissanceRe Holdings Ltd. | 17774 | 5375924  |
| RLI Corp. | 2186 | 136231  |
| Ryan Specialty Holdings, Inc. | 1629 | 64101  |
| Travelers Cos., Inc. | 3636 | 1122215  |
| Unum Group | 3390 | 243165  |
| W R Berkley Corp. | 6228 | 446548  |
| Willis Towers Watson PLC | 7243 | 2210346  |
|  |  | 37823961  |
| **Interactive Media & Services — 0.1%** | **Interactive Media & Services — 0.1%** | **Interactive Media & Services — 0.1%** |
| Pinterest, Inc. - Class A<sup>(a)</sup> | 14356 | 245918  |
| Reddit, Inc. - Class A<sup>(a)</sup> | 4549 | 663290  |
|  |  | 909208  |
| **IT Services — 1.7%**<br>|  |  |
| Akamai Technologies, Inc.<sup>(a)</sup> | 36021 | 3544106  |
| Amdocs Ltd. | 24226 | 1690975  |
| Cloudflare, Inc. - Class A<sup>(a)</sup> | 17474 | 3008848  |
|  Cognizant Technology Solutions Corp. - Class A | 31619 | 2037212  |
| EPAM Systems, Inc.<sup>(a)</sup> | 7029 | 991089  |
| Gartner, Inc.<sup>(a)</sup> | 1442 | 226682  |
| GoDaddy, Inc. - Class A<sup>(a)</sup> | 3417 | 297826  |
| Kyndryl Holdings, Inc.<sup>(a)</sup> | 6943 | 85607  |
| MongoDB, Inc.<sup>(a)</sup> | 9129 | 2998603  |
| Twilio, Inc. - Class A<sup>(a)</sup> | 26003 | 3145323  |
|  |  | 18026271  |
| **Leisure Products — 0.0%<sup>(b)</sup>**<br>|  |  |
| Hasbro, Inc. | 1451 | 144505  |
| Mattel, Inc.<sup>(a)</sup> | 4464 | 75665  |
|  |  | 220170  |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value**  |
| **Life Sciences Tools & Services — 2.4%** | **Life Sciences Tools & Services — 2.4%** | **Life Sciences Tools & Services — 2.4%** |
| Agilent Technologies, Inc. | 30563 | $3709737  |
|  Bio-Rad Laboratories, Inc. - Class A<sup>(a)</sup> | 7280 | 2027043  |
| Bio-Techne Corp. | 3151 | 185909  |
|  Charles River Laboratories International, Inc.<sup>(a)</sup> | 1048 | 187058  |
| Illumina, Inc.<sup>(a)</sup> | 2883 | 387648  |
| IQVIA Holdings, Inc.<sup>(a)</sup> | 34545 | 6176991  |
| Medpace Holdings, Inc.<sup>(a)</sup> | 711 | 321201  |
|  Mettler-Toledo International, Inc.<sup>(a)</sup> | 1308 | 1787631  |
| QIAGEN NV | 80832 | 4025434  |
| Waters Corp.<sup>(a)</sup> | 3465 | 1106587  |
|  West Pharmaceutical Services, Inc. | 24136 | 6138750  |
|  |  | 26053989  |
| **Machinery — 5.5%**<br>|  |  |
| AGCO Corp. | 969 | 132268  |
|  Allison Transmission Holdings, Inc. | 13025 | 1632033  |
| Chart Industries, Inc.<sup>(a)</sup> | 459 | 95151  |
| Crane Co. | 637 | 127738  |
| Cummins, Inc. | 11153 | 6511902  |
| Donaldson Co., Inc. | 3347 | 310468  |
| Dover Corp. | 25937 | 5848794  |
| Esab Corp. | 799 | 100810  |
| Flowserve Corp. | 928 | 82147  |
| Fortive Corp. | 14856 | 879475  |
| Gates Industrial Corp. PLC<sup>(a)</sup> | 5801 | 159934  |
| Graco, Inc. | 4391 | 412403  |
| IDEX Corp. | 4267 | 893808  |
| ITT, Inc. | 22464 | 4546938  |
| JBT Marel Corp. | 1072 | 165088  |
| Lincoln Electric Holdings, Inc. | 5885 | 1689289  |
| Middleby Corp.<sup>(a)</sup> | 1292 | 218167  |
| Mueller Industries, Inc. | 3703 | 436806  |
| Nordson Corp. | 14295 | 4194725  |
| Oshkosh Corp. | 9277 | 1577276  |
| PACCAR, Inc. | 16283 | 2053123  |
| Parker-Hannifin Corp. | 859 | 866886  |
| Pentair PLC | 53027 | 5259748  |
| RBC Bearings, Inc.<sup>(a)</sup> | 1494 | 860424  |
| Snap-on, Inc. | 10456 | 4027860  |
| SPX Technologies, Inc.<sup>(a)</sup> | 10141 | 2301399  |
| Stanley Black & Decker, Inc. | 2080 | 179899  |
| Timken Co. | 14990 | 1624616  |
| Toro Co. | 14071 | 1391059  |
|  Watts Water Technologies, Inc. - Class A | 4879 | 1603922  |
|  Westinghouse Air Brake Technologies Corp. | 35594 | 9395036  |
| Xylem, Inc. | 5043 | 653371  |
|  |  | 60232563  |

---

The accompanying notes are an integral part of these financial statements.

31<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Column Mid Cap Fund** 

**Schedule of Investments** 

**February 28, 2026 (Unaudited)(Continued)** 

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value**  |
| **COMMON STOCKS — (Continued)**  | **COMMON STOCKS — (Continued)**  | **COMMON STOCKS — (Continued)**  |
| **Media — 0.3%**<br>|  |  |
|  Charter Communications, Inc. - Class A<sup>(a)</sup> | 1980 | $464567  |
| EchoStar Corp. - Class A<sup>(a)</sup> | 2173 | 251047  |
| Fox Corp. - Class A | 5310 | 299165  |
| Fox Corp. - Class B | 3277 | 169519  |
|  Liberty Broadband Corp. - Class A<sup>(a)</sup> | 417 | 22760  |
|  Liberty Broadband Corp. - Class C<sup>(a)</sup> | 2919 | 159406  |
| New York Times Co. - Class A | 4023 | 320995  |
| News Corp. - Class A | 10644 | 258543  |
| News Corp. - Class B | 3179 | 85134  |
| Nexstar Media Group, Inc. | 721 | 180985  |
| Omnicom Group, Inc. | 6851 | 584322  |
| Paramount Skydance Corp. | 17211 | 232521  |
| Publicis Groupe SA | 6519 | 581245  |
|  |  | 3610209  |
| **Metals & Mining — 0.8%**<br>|  |  |
| Alcoa Corp. | 4645 | 288361  |
| Cleveland-Cliffs, Inc.<sup>(a)</sup> | 12812 | 136576  |
| Coeur Mining, Inc.<sup>(a)</sup> | 4442 | 120600  |
| Commercial Metals Co. | 17792 | 1304154  |
| Hudbay Minerals, Inc. | 27664 | 783721  |
| MP Materials Corp.<sup>(a)</sup> | 1918 | 112913  |
| Nucor Corp. | 5090 | 900319  |
| Reliance, Inc. | 11209 | 3538009  |
| Royal Gold, Inc. | 1705 | 511142  |
| Steel Dynamics, Inc. | 4168 | 804966  |
|  |  | 8500761  |
| **Multi-Utilities — 1.0%**<br>|  |  |
| Ameren Corp. | 4001 | 453233  |
| CenterPoint Energy, Inc. | 31848 | 1385388  |
| CMS Energy Corp. | 4159 | 324693  |
| Consolidated Edison, Inc. | 5168 | 581503  |
| DTE Energy Co. | 16498 | 2445663  |
| &nbsp;&nbsp;&nbsp; Northwestern Energy Group, <br>Inc. | 26461 | 1851212  |
|  Public Service Enterprise Group, Inc. | 6628 | 570472  |
| WEC Energy Group, Inc. | 30737 | 3595000  |
|  |  | 11207164  |
| **Oil, Gas & Consumable Fuels — 3.1%** | **Oil, Gas & Consumable Fuels — 3.1%** | **Oil, Gas & Consumable Fuels — 3.1%** |
| Antero Midstream Corp. | 9335 | 209851  |
| Antero Resources Corp.<sup>(a)</sup> | 6133 | 225756  |
| APA Corp. | 9852 | 299205  |
| Cheniere Energy, Inc. | 7564 | 1783062  |
| Chord Energy Corp. | 190 | 20590  |
| ConocoPhillips | 13709 | 1555423  |
| Coterra Energy, Inc. | 159529 | 4879992  |
| Devon Energy Corp. | 18512 | 805827  |
| Diamondback Energy, Inc. | 23294 | 4055020  |
| DT Midstream, Inc. | 2560 | 355430  |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value**  |
| &nbsp;&nbsp;&nbsp; Enterprise Products Partners <br>LP | 74859 | $2705404  |
| EQT Corp. | 39024 | 2396854  |
| Expand Energy Corp. | 6181 | 667054  |
| Hess Midstream LP - Class A | 1866 | 72177  |
| HF Sinclair Corp. | 5097 | 254901  |
| Kinetik Holdings, Inc. | 233 | 10599  |
| Marathon Petroleum Corp. | 11397 | 2258999  |
| Matador Resources Co. | 471 | 24209  |
| Murphy Oil Corp. | 31101 | 1030998  |
| Occidental Petroleum Corp. | 19638 | 1042385  |
| ONEOK, Inc. | 20052 | 1659704  |
| Ovintiv, Inc. | 8564 | 433253  |
| Permian Resources Corp. | 113193 | 2070300  |
| Phillips 66 | 7712 | 1190193  |
| Range Resources Corp. | 47914 | 1977890  |
| Targa Resources Corp. | 5167 | 1218379  |
| Texas Pacific Land Corp. | 1485 | 778571  |
| Uranium Energy Corp.<sup>(a)</sup> | 3800 | 58254  |
| Viper Energy, Inc. - Class A | 3569 | 166101  |
|  |  | 34206381  |
| **Paper & Forest Products — 0.1%** | **Paper & Forest Products — 0.1%** | **Paper & Forest Products — 0.1%** |
| Louisiana-Pacific Corp. | 6314 | 535048  |
| **Passenger Airlines — 0.3%**<br>|  |  |
| Alaska Air Group, Inc.<sup>(a)</sup> | 1167 | 60217  |
| Delta Air Lines, Inc. | 17253 | 1133522  |
| Southwest Airlines Co. | 32589 | 1605334  |
| United Airlines Holdings, Inc.<sup>(a)</sup> | 8069 | 857735  |
|  |  | 3656808  |
| **Personal Care Products — 0.4%** | **Personal Care Products — 0.4%** | **Personal Care Products — 0.4%** |
|  Estee Lauder Cos., Inc. - Class A | 13196 | 1444566  |
| Kenvue, Inc. | 153268 | 2930484  |
|  |  | 4375050  |
| **Pharmaceuticals — 0.1%**<br>|  |  |
| Elanco Animal Health, Inc.<sup>(a)</sup> | 12769 | 337102  |
| Jazz Pharmaceuticals PLC<sup>(a)</sup> | 1744 | 331395  |
| Royalty Pharma PLC - Class A | 5949 | 274903  |
| Viatris, Inc. | 33435 | 499184  |
|  |  | 1442584  |
| **Professional Services — 2.2%**<br>|  |  |
|  Booz Allen Hamilton Holding Corp. | 3164 | 249418  |
|  Broadridge Financial Solutions, Inc. | 31086 | 5777955  |
|  CACI International, Inc. - Class A<sup>(a)</sup> | 2777 | 1694442  |
| Equifax, Inc. | 26822 | 5604725  |
| ExlService Holdings, Inc.<sup>(a)</sup> | 3485 | 108906  |
| Exponent, Inc. | 45758 | 3330267  |
| Genpact Ltd. | 1869 | 74237  |
| Leidos Holdings, Inc. | 7270 | 1272977  |
| Paycom Software, Inc. | 847 | 106578  |

---

The accompanying notes are an integral part of these financial statements.

32<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Column Mid Cap Fund** 

**Schedule of Investments** 

**February 28, 2026 (Unaudited)(Continued)** 

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value**  |
| **COMMON STOCKS — (Continued)**  | **COMMON STOCKS — (Continued)**  | **COMMON STOCKS — (Continued)**  |
| **Professional Services — (Continued)**  | **Professional Services — (Continued)**  | **Professional Services — (Continued)**  |
| Paylocity Holding Corp.<sup>(a)</sup> | 298 | $31734  |
|  SS&C Technologies Holdings, Inc. | 3535 | 266150  |
| TriNet Group, Inc. | 389 | 14813  |
| Verisk Analytics, Inc. | 28387 | 5892290  |
|  |  | 24424492  |
|  **Real Estate Management & Development — 0.7%**<br>|  |  |
| CBRE Group, Inc. - Class A<sup>(a)</sup> | 49650 | 7331319  |
| CoStar Group, Inc.<sup>(a)</sup> | 8580 | 382926  |
| Jones Lang LaSalle, Inc.<sup>(a)</sup> | 1186 | 374242  |
|  |  | 8088487  |
| &nbsp;&nbsp;&nbsp; **Semiconductors & Semiconductor** <br>**Equipment — 5.0%** | &nbsp;&nbsp;&nbsp; **Semiconductors & Semiconductor** <br>**Equipment — 5.0%** | &nbsp;&nbsp;&nbsp; **Semiconductors & Semiconductor** <br>**Equipment — 5.0%** |
| Amkor Technology, Inc. | 4189 | 200318  |
| Applied Materials, Inc. | 8837 | 3290015  |
| Cirrus Logic, Inc.<sup>(a)</sup> | 257 | 36268  |
| Entegris, Inc. | 39152 | 5185682  |
| First Solar, Inc.<sup>(a)</sup> | 2215 | 436798  |
| GLOBALFOUNDRIES, Inc.<sup>(a)</sup> | 2010 | 95576  |
| Infineon Technologies AG | 33464 | 1810839  |
| Lattice Semiconductor Corp.<sup>(a)</sup> | 43523 | 4161669  |
|  MACOM Technology Solutions Holdings, Inc.<sup>(a)</sup> | 14444 | 3583845  |
| Microchip Technology, Inc. | 25988 | 1939744  |
| MKS, Inc. | 9060 | 2214808  |
| Monolithic Power Systems, Inc. | 13328 | 15230439  |
| NXP Semiconductors NV | 5029 | 1141633  |
| ON Semiconductor Corp.<sup>(a)</sup> | 10363 | 688932  |
| Onto Innovation, Inc.<sup>(a)</sup> | 1390 | 300087  |
| Qnity Electronics, Inc. | 10406 | 1319065  |
| Qorvo, Inc.<sup>(a)</sup> | 2228 | 184701  |
| Rambus, Inc.<sup>(a)</sup> | 2785 | 277553  |
| Skyworks Solutions, Inc. | 40948 | 2439682  |
| Teradyne, Inc. | 21425 | 6856643  |
| Universal Display Corp. | 27157 | 2897380  |
|  |  | 54291677  |
| **Software — 0.7%**<br>|  |  |
| Appfolio, Inc. - Class A<sup>(a)</sup> | 358 | 63638  |
| &nbsp;&nbsp;&nbsp; Bentley Systems, Inc. - <br>Class B | 5249 | 191851  |
|  Check Point Software Technologies Ltd.<sup>(a)</sup> | 4424 | 672758  |
| Cipher Digital, Inc.<sup>(a)</sup> | 3439 | 53648  |
| Commvault Systems, Inc.<sup>(a)</sup> | 213 | 18122  |
| Docusign, Inc.<sup>(a)</sup> | 5254 | 236798  |
|  Dolby Laboratories, Inc. - Class A | 1452 | 96660  |
| Gen Digital, Inc. | 34943 | 788663  |
| InterDigital, Inc. | 4685 | 1717193  |
| Manhattan Associates, Inc.<sup>(a)</sup> | 1732 | 234565  |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value**  |
| PTC, Inc.<sup>(a)</sup> | 442 | $69213  |
| Riot Platforms, Inc.<sup>(a)</sup> | 9283 | 151220  |
| Synopsys, Inc.<sup>(a)</sup> | 6919 | 2864466  |
| UiPath, Inc. - Class A<sup>(a)</sup> | 10204 | 109489  |
|  Zoom Communications, Inc. - Class A<sup>(a)</sup> | 5495 | 406300  |
| Zscaler, Inc.<sup>(a)</sup> | 927 | 136260  |
|  |  | 7810844  |
| **Specialty Retail — 3.3%**<br>|  |  |
| AutoNation, Inc.<sup>(a)</sup> | 919 | 179352  |
| AutoZone, Inc.<sup>(a)</sup> | 743 | 2790396  |
| Best Buy Co., Inc. | 4773 | 295783  |
| Burlington Stores, Inc.<sup>(a)</sup> | 1870 | 573847  |
| Chewy, Inc. - Class A<sup>(a)</sup> | 646 | 17713  |
| Dick's Sporting Goods, Inc. | 1771 | 360629  |
|  Floor & Decor Holdings, Inc. - Class A<sup>(a)</sup> | 2919 | 201674  |
| GameStop Corp. - Class A<sup>(a)</sup> | 8052 | 193490  |
| Gap, Inc. | 9155 | 256706  |
| Lithia Motors, Inc. | 711 | 198781  |
| Murphy USA, Inc. | 2279 | 890496  |
| Penske Automotive Group, Inc. | 458 | 72144  |
| Ross Stores, Inc. | 71401 | 14682902  |
| TJX Cos., Inc. | 16101 | 2602888  |
| Tractor Supply Co. | 15085 | 782006  |
| Ulta Beauty, Inc.<sup>(a)</sup> | 12353 | 8459211  |
| Valvoline, Inc.<sup>(a)</sup> | 30239 | 1143034  |
| Williams-Sonoma, Inc. | 10576 | 2174954  |
|  |  | 35876006  |
| &nbsp;&nbsp;&nbsp; **Technology Hardware, Storage &** <br>**Peripherals — 0.6%** | &nbsp;&nbsp;&nbsp; **Technology Hardware, Storage &** <br>**Peripherals — 0.6%** | &nbsp;&nbsp;&nbsp; **Technology Hardware, Storage &** <br>**Peripherals — 0.6%** |
| HP, Inc. | 59335 | 1126772  |
| NetApp, Inc. | 18892 | 1870875  |
| Pure Storage, Inc. - Class A<sup>(a)</sup> | 6855 | 440228  |
|  Seagate Technology Holdings PLC | 1128 | 460043  |
| Super Micro Computer, Inc.<sup>(a)</sup> | 10433 | 337925  |
| Western Digital Corp. | 8441 | 2360948  |
|  |  | 6596791  |
|  **Textiles, Apparel & Luxury Goods — 0.7%**<br>|  |  |
| Amer Sports, Inc.<sup>(a)</sup> | 3673 | 139500  |
| Birkenstock Holding PLC<sup>(a)</sup> | 485 | 20200  |
| Columbia Sportswear Co. | 6 | 372  |
| Deckers Outdoor Corp.<sup>(a)</sup> | 4902 | 574858  |
| Levi Strauss & Co. - Class A | 2594 | 57483  |
| Lululemon Athletica, Inc.<sup>(a)</sup> | 2743 | 507921  |
| Ralph Lauren Corp. | 13158 | 4771091  |
| Tapestry, Inc. | 5965 | 927379  |
| VF Corp. | 8709 | 169129  |
|  |  | 7167933  |

---

The accompanying notes are an integral part of these financial statements.

33<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Column Mid Cap Fund** 

**Schedule of Investments** 

**February 28, 2026 (Unaudited)(Continued)** 

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value**  |
| **COMMON STOCKS — (Continued)**  | **COMMON STOCKS — (Continued)**  | **COMMON STOCKS — (Continued)**  |
| **Trading Companies & Distributors — 1.1%** | **Trading Companies & Distributors — 1.1%** | **Trading Companies & Distributors — 1.1%** |
| Air Lease Corp. | 2902 | $188166  |
|  Applied Industrial Technologies, Inc. | 1152 | 325532  |
| Ashtead Group PLC | 15935 | 1147064  |
| Bunzl PLC | 92923 | 2740421  |
| Core & Main, Inc. - Class A<sup>(a)</sup> | 5532 | 299613  |
| DNOW, Inc.<sup>(a)</sup> | 5683 | 66946  |
| Fastenal Co. | 2275 | 104741  |
| GATX Corp. | 15284 | 2814854  |
|  MSC Industrial Direct Co., Inc. - Class A | 35283 | 3310957  |
| QXO, Inc.<sup>(a)</sup> | 14124 | 338270  |
|  SiteOne Landscape Supply, Inc.<sup>(a)</sup> | 1093 | 156179  |
| Watsco, Inc. | 825 | 344297  |
| WESCO International, Inc. | 1423 | 411958  |
|  |  | 12248998  |
| &nbsp;&nbsp;&nbsp; **TOTAL COMMON STOCKS** <br>**(Cost $823,209,630)** |  | 1029485648  |
|  **REAL ESTATE INVESTMENT TRUSTS — 2.9%**<br>|  |  |
| **Health Care REITs — 0.3%**<br>|  |  |
| CareTrust REIT, Inc. | 18740 | 761219  |
| Healthpeak Properties, Inc. | 89003 | 1573573  |
| Ventas, Inc. | 16257 | 1400703  |
|  |  | 3735495  |
| **Industrial REITs — 0.3%**<br>|  |  |
| Americold Realty Trust, Inc. | 103429 | 1384914  |
| EastGroup Properties, Inc. | 6942 | 1362784  |
|  |  | 2747698  |
| **Office REITs — 0.2%**<br>|  |  |
| BXP, Inc. | 42544 | 2449684  |
| **Residential REITs — 0.5%**<br>|  |  |
| Equity LifeStyle Properties, Inc. | 14971 | 1005452  |
| Equity Residential | 49619 | 3136417  |
| Essex Property Trust, Inc. | 5436 | 1386778  |
|  |  | 5528647  |
| **Retail REITs — 0.8%**<br>|  |  |
| Agree Realty Corp. | 8671 | 697842  |
| Realty Income Corp. | 40067 | 2684489  |
| Regency Centers Corp. | 28087 | 2218873  |
| Simon Property Group, Inc. | 12613 | 2571160  |
|  |  | 8172364  |
| **Specialized REITs — 0.8%**<br>|  |  |
| American Tower Corp. | 8858 | 1699496  |
| Extra Space Storage, Inc. | 5226 | 789283  |
| Lamar Advertising Co. - Class A | 11845 | 1631530  |
| Public Storage | 5130 | 1575218  |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value**  |
| SBA Communications Corp. | 8994 | $1809233  |
| VICI Properties, Inc. | 53192 | 1606930  |
|  |  | 9111690  |
| &nbsp;&nbsp;&nbsp; **TOTAL REAL ESTATE INVESTMENT TRUSTS** <br>**(Cost $31,290,869)** |  | 31745578  |
| **PREFERRED STOCKS — 0.1%**<br>|  |  |
| **Household Products — 0.1%**<br>|  |  |
| Henkel AG & Co. KGaA, 0.00% | 12197 | 1198786  |
| &nbsp;&nbsp;&nbsp; **TOTAL PREFERRED STOCKS** <br>**(Cost $971,552)** |  | 1198786  |
| **EXCHANGE TRADED FUNDS — 0.1%** | **EXCHANGE TRADED FUNDS — 0.1%** | **EXCHANGE TRADED FUNDS — 0.1%** |
|  iShares Russell Mid-Cap Value ETF  | 5325 | 819571  |
| &nbsp;&nbsp;&nbsp; **TOTAL EXCHANGE TRADED FUNDS** <br>**(Cost $790,375)** |  | 819571 |

---

---

| | | |
|:---|:---|:---|
|  | **Contracts** |  |
| **WARRANTS — 0.0%<sup>(b)</sup>**<br>|  |  |
| **Specialty Retail — 0.0%<sup>(b)</sup>**<br>|  |  |
|  GameStop Corp., Expires 10/30/2026, Exercise Price $32.00<sup>(a)</sup> | 805 | 3461  |
| &nbsp;&nbsp;&nbsp; **TOTAL WARRANTS** <br>**(Cost $0)** |  | 3461 |

---

---

| | | |
|:---|:---|:---|
|  | **Shares** |  |
| **SHORT-TERM INVESTMENTS**<br>|  |  |
| **MONEY MARKET FUNDS — 2.2%** | **MONEY MARKET FUNDS — 2.2%** | **MONEY MARKET FUNDS — 2.2%** |
|  Dreyfus Treasury Securities Cash Management - Institutional Class, 3.55%<sup>(c)</sup> | 943 | 943  |
|  First American Government Obligations Fund - Class X, 3.60%<sup>(c)</sup> | 24335039 | 24335038  |
| &nbsp;&nbsp;&nbsp; **TOTAL MONEY MARKET FUNDS** <br>**(Cost $24,335,981)** |  | 24335981  |
| &nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS — 99.8%** <br>**(Cost $880,598,407)** |  | $1087589025  |
|  Other Assets in Excess of Liabilities — 0.2% |  | 1887324  |
| &nbsp;&nbsp;&nbsp; **TOTAL NET** <br>**ASSETS — 100.0%** |  | $1089476349 |

---

Percentages are stated as a percent of net assets.

LP - Limited Partnership

PLC - Public Limited Company

REIT - Real Estate Investment Trust

The accompanying notes are an integral part of these financial statements.

34<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Column Mid Cap Fund** 

**Schedule of Investments** 

**February 28, 2026 (Unaudited)(Continued)** 

The Global Industry Classification Standard ("GICS<sup>®</sup>") was developed by and/or is the exclusive property of MSCI, Inc. ("MSCI") and Standard & Poor's Financial Services LLC ("S&P"). GICS<sup>®</sup> is a service mark of MSCI and S&P and has been licensed for use by the Adviser.

<sup>(a)</sup> Non-income producing security.

<sup>(b)</sup> Represents less than 0.05% of net assets.

<sup>(c)</sup> The rate shown represents the 7-day annualized yield as of February 28, 2026.

The accompanying notes are an integral part of these financial statements.

35<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Column Mid Cap Fund** 

**Schedule of Forward Currency Contracts** 

**February 28, 2026 (Unaudited)** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Settlement** <br>**Date** | **Currency** <br>**Purchased** | **Currency** <br>**Purchased** | **Currency** <br>**Sold** | **Currency** <br>**Sold** | **Unrealized** <br>**Appreciation** <br>(Depreciation)  |
| Bank of America | 03/27/2026 | GBP | 817068 | USD | 1098492 | &nbsp;&nbsp; $2720  |
| Morgan Stanley | 03/27/2026 | EUR | 627794 | USD | 739465 | &nbsp;&nbsp; 3501  |
| UBS AG | 03/27/2026 | USD | 167686 | GBP | 121545 | &nbsp;&nbsp; 3872  |
| Bank of America | 03/27/2026 | USD | 4470144 | GBP | 3336613 | &nbsp;&nbsp; (26814)  |
| Morgan Stanley | 03/27/2026 | USD | 9899319 | EUR | 8384143 | &nbsp;&nbsp; (22935)  |
|  **Net Unrealized Appreciation (Depreciation)** |  |  |  |  |  | &nbsp;&nbsp; $(39656) |

---

EUR - Euro

GBP - British Pound

USD - United States Dollar

The accompanying notes are an integral part of these financial statements.

36<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**COLUMN FUNDS** 

**Statements of Assets and Liabilities** 

**February 28, 2026 (Unaudited)** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Column** <br>**Small Cap** <br>**Select Fund** | **Column** <br>**Small Cap** <br>**Fund** | **Column** <br>**Mid Cap** <br>**Select Fund** | **Column** <br>**Mid Cap** <br>**Fund** |
| **ASSETS:**<br>|  |  |  |  |
| Investments, at value\* | $1723433988  | $514129239 | $3005009478 | $1087589025 |
| Receivable for investments sold | 25736827  | 2750384 | 2456111 | 4786176 |
| Dividends receivable | 815782  | 352770 | 2311789 | 797020 |
| Cash | —  |  |  | 380000 |
| Receivable for fund shares sold | 2086952  | 130976 | 4114291 | 284900 |
| Dividend tax reclaims receivable | 35002  | 4273 | 15946 | 20431 |
|  Receivable for open forward currency contracts | —  | 1868 |  | 6221 |
| Foreign currency, at value\*\* | —  |  |  | 1049 |
| Prepaid expenses and other assets | 47994  | 23509 | 60259 | 28484 |
| &nbsp;&nbsp;&nbsp; **Total assets** | 1752156545  | 517393019 | 3013967874 | 1093893306 |
| **LIABILITIES:**<br>|  |  |  |  |
| Payable for investments purchased | 19013567  | 2385714 | 1698014 | 3183545 |
| Payable for capital shares redeemed | 865266  | 271403 | 1197095 | 740604 |
| Payable to Adviser | 592462  | 159729 | 830792 | 271838 |
|  Payable for fund administration and accounting fees | 63445  | 27271 | 106808 | 44530 |
| Payable for administrative services | 26553  | 7967 | 45623 | 16556 |
| Payable for shareholder servicing fees | 79950  | 23732 | 136549 | 49199 |
| &nbsp;&nbsp;&nbsp; Payable for open forward currency <br>contracts | —  | 7855 |  | 45877 |
| Payable for custodian fees | 24939  | 17517 | 20785 | 17250 |
|  Payable for transfer agent fees and expenses | 6814  | 4815 | 8982 | 5789 |
| Payable for compliance fees | 1924  | 1917 | 1918 | 1917 |
| Payable for expenses and other liabilities | 65375  | 43212 | 63419 | 39852 |
| &nbsp;&nbsp;&nbsp; **Total liabilities** | 20740295  | 2951132 | 4109985 | 4416957 |
| **NET ASSETS** | $1731416250  | $514441887 | $3009857889 | $1089476349 |
| **Net Assets Consists of:**<br>|  |  |  |  |
| Paid-in capital | $1364792604  | $441892870 | $2519187528 | $875149568 |
| Total distributable earnings | 366623646  | 72549017 | 490670361 | 214326781 |
| &nbsp;&nbsp;&nbsp; **Total net assets** | $1731416250  | $514441887 | $3009857889 | $1089476349 |
| Net assets | $1731416250  | $514441887 | $3009857889 | $1089476349 |
| Shares issued and outstanding<sup>(a)</sup> | 124940817  | 42045910 | 236826203 | 84000928 |
| Net asset value per share | $13.86  | $12.24 | $12.71 | $12.97 |
| **Cost:**<br>|  |  |  |  |
| \* Investments, at cost | $1402871674  | $439599125 | $2510011484 | $880598407 |
| \*\* Foreign currency, at cost | $— | $— | $— | $1048 |

---

<sup>(a)</sup> Unlimited shares authorized with par value of $0.001. 

The accompanying notes are an integral part of these financial statements.

37<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**COLUMN FUNDS** 

**STATEMENTS OF OPERATIONS** 

**For the Period Ended February 28, 2026 (Unaudited)** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Column** <br>**Small Cap** <br>**Select Fund** | **Column** <br>**Small Cap** <br>**Fund**  | **Column** <br>**Mid Cap** <br>**Select Fund** | **Column** <br>**Mid Cap** <br>**Fund**  |
| **INVESTMENT INCOME:**<br>|  |  |  |  |
| Dividend income | $13240586  | $3449213 | $18246177 | $6917981 |
| Less: Issuance fees | (18045)  | (14295) | (168) | (130) |
| Less: Dividend withholding taxes | (45045)  | (10695) | (6182) | (19420) |
| &nbsp;&nbsp;&nbsp; **Total investment income** | 13177496  | 3424223 | 18239827 | 6898431 |
| **EXPENSES:**<br>|  |  |  |  |
| Investment advisory fee | 5822048  | 1865188 | 9153608 | 3513316 |
| Shareholder service costs | 470707  | 145330 | 816368 | 303646 |
| Fund administration and accounting fees  | 193642  | 85291 | 319870 | 139104 |
| Administrative service fees | 156902  | 48443 | 272103 | 101215 |
| Custodian fees | 56018  | 47777 | 48004 | 42827 |
| Reports to shareholders | 167928  | 32122 | 165301 | 32696 |
| Federal and state registration fees | 39996  | 19585 | 50635 | 21338 |
| Transfer agent fees | 21073  | 15010 | 27653 | 18011 |
| Trustees' fees | 15430  | 15430 | 15430 | 15430 |
| Legal fees | 15792  | 13147 | 16598 | 13029 |
| Audit fees | 10145  | 10145 | 10145 | 10145 |
| Compliance fees  | 5066  | 5066 | 5066 | 5066 |
| Interest expense | 44  | 1 |  | 2025 |
| Other expenses and fees | 16004  | 12112 | 21454 | 14752 |
| &nbsp;&nbsp;&nbsp; Total expenses | 6990795  | 2314647 | 10922255 | 4232600 |
| &nbsp;&nbsp;&nbsp; Waiver by Adviser  | (2313501)  | (890134) | (4170779) | (1846766) |
| &nbsp;&nbsp;&nbsp; Net expenses | 4677294  | 1424513 | 6751476 | 2385834 |
| **NET INVESTMENT INCOME** | 8500202  | 1999710 | 11488351 | 4512597 |
| **REALIZED AND UNREALIZED GAIN (LOSS)**<br>|  |  |  |  |
| Net realized gain (loss) from:<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp; Investments | 103089438  | 7628066 | 6426121 | 17906759 |
| &nbsp;&nbsp;&nbsp; Forward currency contracts | —  | 7116 |  | (56727) |
| &nbsp;&nbsp;&nbsp; Foreign currency translation | (16038)  | (2095) |  | 1788 |
| Net realized gain (loss) | 103073400  | 7633087 | 6426121 | 17851820 |
|  Net change in unrealized appreciation (depreciation) on:<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp; Investments | 144413465  | 31475276 | 228158567 | 77165921 |
| &nbsp;&nbsp;&nbsp; Forward currency contracts | —  | (5273) |  | 81200 |
| &nbsp;&nbsp;&nbsp; Foreign currency translation | 933  | (11) |  | (500) |
|  Net change in unrealized appreciation (depreciation) | 144414398  | 31469992 | 228158567 | 77246621 |
| **Net realized and unrealized gain (loss)** | 247487798  | 39103079 | 234584688 | 95098441 |
|  **NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS** | $99611038 | $246073039 | $41102789 | $255988000 |

---

The accompanying notes are an integral part of these financial statements.

38<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**COLUMN FUNDS** 

**STATEMENTS OF CHANGES IN NET ASSETS** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Column Small Cap Select Fund** | **Column Small Cap Select Fund** | **Column Small Cap Fund**  | **Column Small Cap Fund**  |
|  | **Period Ended** <br>**February 28, 2026** <br>(Unaudited) | **Year Ended** <br>**August 31, 2025** | **Period Ended** <br>**February 28, 2026** <br>(Unaudited) | **Year Ended** <br>**August 31, 2025**  |
| **OPERATIONS:**<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | $8500202 | $7415794  | &nbsp;&nbsp; $1999710 | $3844574 |
| &nbsp;&nbsp;&nbsp; Net realized gain (loss) | 103073400 | (3768972)  | &nbsp;&nbsp; 7633087 | 13324254 |
| &nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) | 144414398 | 66414054  | &nbsp;&nbsp; 31469992 | 4034461 |
| &nbsp;&nbsp;&nbsp; **Net increase (decrease) in net assets from operations** | 255988000 | 70060876  | &nbsp;&nbsp; 41102789 | 21203289 |
| **DISTRIBUTIONS TO SHAREHOLDERS:**<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp; From earnings | (53648085) | (9387328)  | &nbsp;&nbsp; (22802792) | (11067474) |
| &nbsp;&nbsp;&nbsp; **Total distributions to shareholders** | (53648085) | (9387328)  | &nbsp;&nbsp; (22802792) | (11067474) |
| **CAPITAL TRANSACTIONS:**<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp; Shares sold | 157060200 | 461852796  | &nbsp;&nbsp; 28725954 | 95972604 |
| &nbsp;&nbsp;&nbsp; Shares issued from reinvestment of distributions | 53648085 | 9387328  | &nbsp;&nbsp; 22802792 | 11067474 |
| &nbsp;&nbsp;&nbsp; Shares redeemed | (118579952) | (157741112)  | &nbsp;&nbsp; (34468512) | (67316339) |
| &nbsp;&nbsp;&nbsp; **Net increase (decrease) in net assets from capital transactions** | 92128333 | 313499012  | &nbsp;&nbsp; 17060234 | 39723739 |
| **NET INCREASE (DECREASE) IN NET ASSETS** | 294468248 | 374172560  | &nbsp;&nbsp; 35360231 | 49859554 |
| **NET ASSETS:**<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp; Beginning of the period | 1436948002 | 1062775442  | &nbsp;&nbsp; 479081656 | 429222102 |
| &nbsp;&nbsp;&nbsp; End of the period | $1731416250 | $1436948002  | &nbsp;&nbsp; $514441887 | $479081656 |
| **SHARES TRANSACTIONS**<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp; Shares sold | 12057090 | 42035361  | &nbsp;&nbsp; 2417867 | 8793606 |
| &nbsp;&nbsp;&nbsp; Shares issued from reinvestment of distributions | 4178200 | 756432  | &nbsp;&nbsp; 1970855 | 922289 |
| &nbsp;&nbsp;&nbsp; Shares redeemed | (9032151) | (14247611)  | &nbsp;&nbsp; (2898475) | (6077040) |
| &nbsp;&nbsp;&nbsp; **Total increase (decrease) in shares outstanding** | 7203139 | 28544182 | &nbsp;&nbsp; 1490247 | 3638855 |

---

The accompanying notes are an integral part of these financial statements.

39<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**COLUMN FUNDS** 

**STATEMENTS OF CHANGES IN NET ASSETS(Continued)** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Column Mid Cap Select Fund** | **Column Mid Cap Select Fund** | **Column Mid Cap Fund**  | **Column Mid Cap Fund**  |
|  | **Period Ended** <br>**February 28, 2026** <br>(Unaudited) | **Year Ended** <br>**August 31, 2025** | **Period Ended** <br>**February 28, 2026** <br>(Unaudited) | **Year Ended** <br>**August 31, 2025** |
| **OPERATIONS:**<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | $11488351 | $20561852  | $4512597 | $9191303 |
| &nbsp;&nbsp;&nbsp; Net realized gain (loss) | 6426121 | 31402029  | 17851820 | 27605136 |
| &nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) | 228158567 | 78685882  | 77246621 | 33833838 |
| &nbsp;&nbsp;&nbsp; **Net increase (decrease) in net assets from operations** | 246073039 | 130649763  | 99611038 | 70630277 |
| **DISTRIBUTIONS TO SHAREHOLDERS:**<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp; From earnings | (56659482) | (16891200)  | (45372691) | (9161719) |
| &nbsp;&nbsp;&nbsp; **Total distributions to shareholders** | (56659482) | (16891200)  | (45372691) | (9161719) |
| **CAPITAL TRANSACTIONS:**<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp; Shares sold | 329475971 | 695938689  | 59088238 | 154059500 |
| &nbsp;&nbsp;&nbsp; Shares issued from reinvestment of distributions | 56659481 | 16891200  | 45372691 | 9161719 |
| &nbsp;&nbsp;&nbsp; Shares redeemed | (162002637) | (279493920)  | (66078425) | (149727633) |
| &nbsp;&nbsp;&nbsp; **Net increase (decrease) in net assets from capital transactions** | 224132815 | 433335969  | 38382504 | 13493586 |
| **NET INCREASE (DECREASE) IN NET ASSETS** | 413546372 | 547094532  | 92620851 | 74962144 |
| **NET ASSETS:**<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp; Beginning of the period | 2596311517 | 2049216985  | 996855498 | 921893354 |
| &nbsp;&nbsp;&nbsp; End of the period | $3009857889 | $2596311517  | $1089476349 | $996855498 |
| **SHARES TRANSACTIONS**<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp; Shares sold | 27341027 | 62156959  | 4762396 | 13338748 |
| &nbsp;&nbsp;&nbsp; Shares issued from reinvestment of distributions | 4749328 | 1458653  | 3756017 | 762207 |
| &nbsp;&nbsp;&nbsp; Shares redeemed | (13366046) | (25086121)  | (5309934) | (12982160) |
| &nbsp;&nbsp;&nbsp; **Total increase (decrease) in shares outstanding** | 18724309 | 38529491 | 3208479 | 1118795 |

---

The accompanying notes are an integral part of these financial statements.

40<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Column Small Cap Select Fund** 

**Financial Highlights** 

---

| | | | |
|:---|:---|:---|:---|
|  | **Period Ended** <br>**February 28, 2026** <br>(Unaudited) | **Year Ended** <br>**August 31, 2025** | **Period Ended** <br>**August 31, 2024<sup>(a)</sup>**  |
| **PER SHARE DATA:**<br>|  |  |  |
| Net asset value, beginning of period | &nbsp;&nbsp;&nbsp; $12.20 | &nbsp;&nbsp; $11.92 | &nbsp;&nbsp;&nbsp; $10.00  |
| **INVESTMENT OPERATIONS:**<br>|  |  |  |
| Net investment income<sup>(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;0.07 | 0.07 | &nbsp;&nbsp;&nbsp;&nbsp;0.05  |
|  Net realized and unrealized gain (loss) on investments<sup>(c)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;2.04 | 0.31 | &nbsp;&nbsp;&nbsp;&nbsp;1.87  |
| **Total from investment operations** | &nbsp;&nbsp;&nbsp;&nbsp;2.11 | 0.38 | &nbsp;&nbsp;&nbsp;&nbsp;1.92  |
| **LESS DISTRIBUTIONS FROM:**<br>|  |  |  |
| Net investment income | &nbsp;&nbsp;&nbsp; (0.11) | &nbsp;&nbsp; (0.10) | &nbsp;&nbsp;&nbsp; —  |
| Net realized gains | &nbsp;&nbsp;&nbsp; (0.34) | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; —  |
| **Total distributions** | &nbsp;&nbsp;&nbsp; (0.45) | &nbsp;&nbsp; (0.10) | &nbsp;&nbsp;&nbsp; —  |
| **Net asset value, end of period** | &nbsp;&nbsp;&nbsp; $13.86 | &nbsp;&nbsp; $12.20 | &nbsp;&nbsp;&nbsp; $11.92  |
| TOTAL RETURN<sup>(d)</sup> | &nbsp;&nbsp;&nbsp; 17.55% | &nbsp;&nbsp; 3.17% | &nbsp;&nbsp;&nbsp; 19.20%  |
| **SUPPLEMENTAL DATA AND RATIOS:<sup>(e)</sup>**<br>|  |  |  |
| Net assets, end of period (in thousands) | &nbsp;&nbsp;&nbsp; $1731416 | &nbsp;&nbsp; $1436948 | &nbsp;&nbsp;&nbsp; $1062775  |
| Ratio of expenses to average net assets:<br>|  |  |  |
| &nbsp;&nbsp;&nbsp; Before management fee waiver<sup>(f)</sup> | &nbsp;&nbsp;&nbsp; 0.89% | &nbsp;&nbsp; 0.94% | &nbsp;&nbsp;&nbsp; 0.95%  |
| &nbsp;&nbsp;&nbsp; After management fee waiver<sup>(f)</sup> | &nbsp;&nbsp;&nbsp; 0.60% | &nbsp;&nbsp; 0.65% | &nbsp;&nbsp;&nbsp; 0.66%  |
|  Ratio of interest and borrowing expenses to average net assets<sup>(f)</sup> | &nbsp;&nbsp;&nbsp; 0.00%<sup>(g)</sup> | &nbsp;&nbsp; —% | &nbsp;&nbsp;&nbsp; —%  |
|  Ratio of net investment income to average net assets after management fee waiver<sup>(f)</sup> | &nbsp;&nbsp;&nbsp; 1.08% | &nbsp;&nbsp; 0.64% | &nbsp;&nbsp;&nbsp; 0.62%  |
| Portfolio turnover rate<sup>(d)</sup> | &nbsp;&nbsp;&nbsp; 56% | &nbsp;&nbsp; 94% | &nbsp;&nbsp;&nbsp; 54% |

---

<sup>(a)</sup> Inception date of the Fund was December 11, 2023.

<sup>(b)</sup> Net investment income per share has been calculated based on average shares outstanding during the periods.

<sup>(c)</sup> Realized and unrealized gains and losses per share in the caption are balancing amounts necessary to reconcile the change in net asset value per share for the periods, and may not reconcile with the aggregate gains and losses in the Statement of Operations due to share transactions for the periods.

<sup>(d)</sup> Not annualized for periods less than one year.

<sup>(e)</sup> Ratios do not include the income and expenses of the underlying funds in which the Fund invests.

<sup>(f)</sup> Annualized for periods less than one year.

<sup>(g)</sup> Amount represents less than 0.005%. 

The accompanying notes are an integral part of these financial statements.

41<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Column Small Cap Fund** 

**Financial Highlights** 

---

| | | | |
|:---|:---|:---|:---|
|  | **Period Ended** <br>**February 28, 2026** <br>(Unaudited) | **Year Ended** <br>**August 31, 2025** | **Period Ended** <br>**August 31, 2024<sup>(a)</sup>**  |
| **PER SHARE DATA:**<br>|  |  |  |
| Net asset value, beginning of period | &nbsp;&nbsp;&nbsp;&nbsp; $11.81 | &nbsp;&nbsp;&nbsp; $11.63 | &nbsp;&nbsp;&nbsp;&nbsp; $10.00  |
| **INVESTMENT OPERATIONS:**<br>|  |  |  |
| Net investment income<sup>(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;0.05 | &nbsp;&nbsp;&nbsp;&nbsp;0.10 | &nbsp;&nbsp;&nbsp;&nbsp;0.07  |
|  Net realized and unrealized gain (loss) on investments<sup>(c)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;0.94 | &nbsp;&nbsp;&nbsp;&nbsp;0.37 | &nbsp;&nbsp;&nbsp;&nbsp;1.56  |
| **Total from investment operations** | &nbsp;&nbsp;&nbsp;&nbsp;0.99 | &nbsp;&nbsp;&nbsp;&nbsp;0.47 | &nbsp;&nbsp;&nbsp;&nbsp;1.63  |
| **LESS DISTRIBUTIONS FROM:** <br>|  |  |  |
| Net investment income | &nbsp;&nbsp;&nbsp;&nbsp; (0.09) | &nbsp;&nbsp;&nbsp; (0.12) | &nbsp;&nbsp;&nbsp;&nbsp; —  |
| Net realized gains | &nbsp;&nbsp;&nbsp;&nbsp; (0.47) | &nbsp;&nbsp;&nbsp; (0.17) | &nbsp;&nbsp;&nbsp;&nbsp; —  |
| **Total distributions** | &nbsp;&nbsp;&nbsp;&nbsp; (0.56) | &nbsp;&nbsp;&nbsp; (0.29) | &nbsp;&nbsp;&nbsp;&nbsp; —  |
| **Net asset value, end of period** | &nbsp;&nbsp;&nbsp;&nbsp; $12.24 | &nbsp;&nbsp;&nbsp; $11.81 | &nbsp;&nbsp;&nbsp;&nbsp; $11.63  |
| TOTAL RETURN<sup>(d)</sup> | &nbsp;&nbsp;&nbsp;&nbsp; 8.69% | &nbsp;&nbsp;&nbsp; 4.05% | &nbsp;&nbsp;&nbsp;&nbsp; 16.30%  |
| **SUPPLEMENTAL DATA AND RATIOS:<sup>(e)</sup>**<br>|  |  |  |
| Net assets, end of period (in thousands) | &nbsp;&nbsp;&nbsp;&nbsp; $514442 | &nbsp;&nbsp;&nbsp; $479082 | &nbsp;&nbsp;&nbsp;&nbsp; $429222  |
| Ratio of expenses to average net assets:<br>|  |  |  |
| &nbsp;&nbsp;&nbsp; Before management fee waiver<sup>(f)</sup> | &nbsp;&nbsp;&nbsp;&nbsp; 0.96% | &nbsp;&nbsp;&nbsp; 0.99% | &nbsp;&nbsp;&nbsp;&nbsp; 1.02%  |
| &nbsp;&nbsp;&nbsp; After management fee waiver<sup>(f)</sup> | &nbsp;&nbsp;&nbsp;&nbsp; 0.59% | &nbsp;&nbsp;&nbsp; 0.62% | &nbsp;&nbsp;&nbsp;&nbsp; 0.66%  |
|  Ratio of interest and borrowing expenses to average net assets<sup>(f)</sup> | &nbsp;&nbsp;&nbsp;&nbsp; 0.00%<sup>(g)</sup> | &nbsp;&nbsp;&nbsp; —% | &nbsp;&nbsp;&nbsp;&nbsp; —%  |
|  Ratio of net investment income to average net assets after management fee waiver<sup>(f)</sup> | &nbsp;&nbsp;&nbsp;&nbsp; 0.83% | &nbsp;&nbsp;&nbsp; 0.88% | &nbsp;&nbsp;&nbsp;&nbsp; 0.90%  |
| Portfolio turnover rate<sup>(d)</sup> | &nbsp;&nbsp;&nbsp;&nbsp; 34% | &nbsp;&nbsp;&nbsp; 57% | &nbsp;&nbsp;&nbsp;&nbsp; 36% |

---

<sup>(a)</sup> Inception date of the Fund was December 11, 2023.

<sup>(b)</sup> Net investment income per share has been calculated based on average shares outstanding during the periods.

<sup>(c)</sup> Realized and unrealized gains and losses per share in the caption are balancing amounts necessary to reconcile the change in net asset value per share for the periods, and may not reconcile with the aggregate gains and losses in the Statement of Operations due to share transactions for the periods.

<sup>(d)</sup> Not annualized for periods less than one year.

<sup>(e)</sup> Ratios do not include the income and expenses of the underlying funds in which the Fund invests.

<sup>(f)</sup> Annualized for periods less than one year.

<sup>(g)</sup> Amount represents less than 0.005%. 

The accompanying notes are an integral part of these financial statements.

42<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Column Mid Cap Select Fund** 

**Financial Highlights** 

---

| | | | |
|:---|:---|:---|:---|
|  | **Period Ended** <br>**February 28, 2026** <br>(Unaudited) | **Year Ended** <br>**August 31, 2025** | **Period Ended** <br>**August 31, 2024<sup>(a)</sup>**  |
| **PER SHARE DATA:**<br>|  |  |  |
| Net asset value, beginning of period | &nbsp;&nbsp;&nbsp; $11.90 | &nbsp;&nbsp; $11.41 | &nbsp;&nbsp;&nbsp; $10.00  |
| **INVESTMENT OPERATIONS:**<br>|  |  |  |
| Net investment income<sup>(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;0.05 | 0.10 | &nbsp;&nbsp;&nbsp;&nbsp;0.07  |
|  Net realized and unrealized gain (loss) on investments<sup>(c)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;1.01 | 0.48 | &nbsp;&nbsp;&nbsp;&nbsp;1.34  |
| **Total from investment operations** | &nbsp;&nbsp;&nbsp;&nbsp;1.06 | 0.58 | &nbsp;&nbsp;&nbsp;&nbsp;1.41  |
| **LESS DISTRIBUTIONS FROM:** <br>|  |  |  |
| Net investment income | &nbsp;&nbsp;&nbsp; (0.10) | &nbsp;&nbsp; (0.09) | &nbsp;&nbsp;&nbsp; —  |
| Net realized gains | &nbsp;&nbsp;&nbsp; (0.15) | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; —  |
| **Total distributions** | &nbsp;&nbsp;&nbsp; (0.25) | &nbsp;&nbsp; (0.09) | &nbsp;&nbsp;&nbsp; —  |
| **Net asset value, end of period** | &nbsp;&nbsp;&nbsp; $12.71 | &nbsp;&nbsp; $11.90 | &nbsp;&nbsp;&nbsp; $11.41  |
| TOTAL RETURN<sup>(d)</sup> | &nbsp;&nbsp;&nbsp; 9.04% | &nbsp;&nbsp; 5.10% | &nbsp;&nbsp;&nbsp; 14.10%  |
| **SUPPLEMENTAL DATA AND RATIOS:**<br>|  |  |  |
| Net assets, end of period (in thousands) | &nbsp;&nbsp;&nbsp; $3009858 | &nbsp;&nbsp; $2596312 | &nbsp;&nbsp;&nbsp; $2049217  |
| Ratio of expenses to average net assets:<br>|  |  |  |
| &nbsp;&nbsp;&nbsp; Before management fee waiver<sup>(e)</sup> | &nbsp;&nbsp;&nbsp; 0.80% | &nbsp;&nbsp; 0.82% | &nbsp;&nbsp;&nbsp; 0.84%  |
| &nbsp;&nbsp;&nbsp; After management fee waiver<sup>(e)</sup> | &nbsp;&nbsp;&nbsp; 0.50% | &nbsp;&nbsp; 0.52% | &nbsp;&nbsp;&nbsp; 0.54%  |
|  Ratio of net investment income to average net assets after management fee waiver<sup>(e)</sup> | &nbsp;&nbsp;&nbsp; 0.84% | &nbsp;&nbsp; 0.92% | &nbsp;&nbsp;&nbsp; 0.93%  |
| Portfolio turnover rate<sup>(d)</sup> | &nbsp;&nbsp;&nbsp; 10% | &nbsp;&nbsp; 26% | &nbsp;&nbsp;&nbsp; 16% |

---

<sup>(a)</sup> Inception date of the Fund was December 11, 2023.

<sup>(b)</sup> Net investment income per share has been calculated based on average shares outstanding during the periods.

<sup>(c)</sup> Realized and unrealized gains and losses per share in the caption are balancing amounts necessary to reconcile the change in net asset value per share for the periods, and may not reconcile with the aggregate gains and losses in the Statement of Operations due to share transactions for the periods.

<sup>(d)</sup> Not annualized for periods less than one year.

<sup>(e)</sup> Annualized for periods less than one year.

The accompanying notes are an integral part of these financial statements.

43<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Column Mid Cap Fund** 

**FINANCIAL HIGHLIGHTS** 

---

| | | | |
|:---|:---|:---|:---|
|  | **Period Ended** <br>**February 28, 2026** <br>(Unaudited) | **Year Ended** <br>**August 31, 2025** | **Period Ended** <br>**August 31, 2024<sup>(a)</sup>**  |
| **PER SHARE DATA:**<br>|  |  |  |
| Net asset value, beginning of period | &nbsp;&nbsp;&nbsp; $12.34 | &nbsp;&nbsp;&nbsp; $11.57 | &nbsp;&nbsp;&nbsp;&nbsp; $10.00  |
| **INVESTMENT OPERATIONS:**<br>|  |  |  |
| Net investment income<sup>(b)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;0.05 | &nbsp;&nbsp;&nbsp;&nbsp;0.11 | &nbsp;&nbsp;&nbsp;&nbsp;0.08  |
|  Net realized and unrealized gain (loss) on investments<sup>(c)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;1.15 | &nbsp;&nbsp;&nbsp;&nbsp;0.77 | &nbsp;&nbsp;&nbsp;&nbsp;1.49  |
| **Total from investment operations** | &nbsp;&nbsp;&nbsp;&nbsp;1.20 | &nbsp;&nbsp;&nbsp;&nbsp;0.88 | &nbsp;&nbsp;&nbsp;&nbsp;1.57  |
| **LESS DISTRIBUTIONS FROM:** <br>|  |  |  |
| Net investment income | &nbsp;&nbsp;&nbsp; (0.11) | &nbsp;&nbsp;&nbsp; (0.11) | &nbsp;&nbsp;&nbsp;&nbsp; —  |
| Net realized gains | &nbsp;&nbsp;&nbsp; (0.46) | &nbsp;&nbsp;&nbsp; (0.00)<sup>(d)</sup> | &nbsp;&nbsp;&nbsp;&nbsp; —  |
| **Total distributions** | &nbsp;&nbsp;&nbsp; (0.57) | &nbsp;&nbsp;&nbsp; (0.11) | &nbsp;&nbsp;&nbsp;&nbsp; —  |
| **Net asset value, end of period** | &nbsp;&nbsp;&nbsp; $12.97 | &nbsp;&nbsp;&nbsp; $12.34 | &nbsp;&nbsp;&nbsp;&nbsp; $11.57  |
| TOTAL RETURN<sup>(e)</sup> | &nbsp;&nbsp;&nbsp; 9.99% | &nbsp;&nbsp;&nbsp; 7.67% | &nbsp;&nbsp;&nbsp;&nbsp; 15.70%  |
| **SUPPLEMENTAL DATA AND RATIOS:<sup>(f)</sup>**<br>|  |  |  |
| Net assets, end of period (in thousands) | &nbsp;&nbsp;&nbsp; $1089476 | &nbsp;&nbsp;&nbsp; $996855 | &nbsp;&nbsp;&nbsp;&nbsp; $921893  |
| Ratio of expenses to average net assets:<br>|  |  |  |
| &nbsp;&nbsp;&nbsp; Before management fee waiver<sup>(g)</sup> | &nbsp;&nbsp;&nbsp; 0.84% | &nbsp;&nbsp;&nbsp; 0.85% | &nbsp;&nbsp;&nbsp;&nbsp; 0.88%  |
| &nbsp;&nbsp;&nbsp; After management fee waiver<sup>(g)</sup> | &nbsp;&nbsp;&nbsp; 0.47% | &nbsp;&nbsp;&nbsp; 0.49% | &nbsp;&nbsp;&nbsp;&nbsp; 0.52%  |
|  Ratio of interest and borrowing expenses to average net assets<sup>(g)</sup>  | &nbsp;&nbsp;&nbsp; 0.00%<sup>(h)</sup> | &nbsp;&nbsp;&nbsp; —% | &nbsp;&nbsp;&nbsp;&nbsp; —%  |
|  Ratio of net investment income to average net assets after management fee waiver<sup>(g)</sup> | &nbsp;&nbsp;&nbsp; 0.89% | &nbsp;&nbsp;&nbsp; 0.98% | &nbsp;&nbsp;&nbsp;&nbsp; 1.04%  |
| Portfolio turnover rate<sup>(e)</sup> | &nbsp;&nbsp;&nbsp; 22% | &nbsp;&nbsp;&nbsp; 49% | &nbsp;&nbsp;&nbsp;&nbsp; 28% |

---

<sup>(a)</sup> Inception date of the Fund was December 11, 2023.

<sup>(b)</sup> Net investment income per share has been calculated based on average shares outstanding during the periods.

<sup>(c)</sup> Realized and unrealized gains and losses per share in the caption are balancing amounts necessary to reconcile the change in net asset value per share for the periods, and may not reconcile with the aggregate gains and losses in the Statement of Operations due to share transactions for the periods.

<sup>(d)</sup> Amount represents less than $0.005 per share.

<sup>(e)</sup> Not annualized for periods less than one year.

<sup>(f)</sup> Ratios do not include the income and expenses of the underlying funds in which the Fund invests.

<sup>(g)</sup> Annualized for periods less than one year.

<sup>(h)</sup> Amount represents less than 0.005%. 

The accompanying notes are an integral part of these financial statements.

44<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**COLUMN FUNDS** 

**NOTES TO FINANCIAL STATEMENTS** 

**February 28, 2026 (Unaudited)** 

1. ORGANIZATION

Trust for Professional Managers (the "Trust") was organized as a Delaware statutory trust under a Declaration of Trust dated May 29, 2001. The Trust is registered under the Investment Company Act of 1940, as amended (the "1940 Act"), as an open-end management investment company. The Column Funds (the "Funds") are comprised of the Column Small Cap Select Fund, the Column Small Cap Fund, the Column Mid Cap Select Fund, and the Column Mid Cap Fund, each representing a distinct, diversified series with its own investment objective and policies within the Trust. The investment objective of each Fund is long-term capital appreciation. Each Fund commenced operations on December 11, 2023. The Trust may issue an unlimited number of shares of beneficial interest at $0.001 par value. Costs incurred by the Funds in connection with the organization, registration and the initial public offering were paid by Mason Street Advisors, LLC (the "Adviser"), the Funds' investment adviser. Each Fund is an investment company and accordingly follows the investment company accounting and reporting guidance of the Financial Accounting Standards Board ("FASB") Accounting Standards Codification Topic 946 "Financial Services—Investment Companies".

2. SIGNIFICANT ACCOUNTING POLICIES

The following is a summary of significant accounting policies consistently followed by each Fund in the preparation of the financial statements. These policies are in conformity with generally accepted accounting principles in the United States of America ("GAAP").

&nbsp;&nbsp;&nbsp;&nbsp;(A) *Investment Valuation.* Each equity security owned by a Fund, including depositary receipts, that is listed on a national securities exchange, except for
 portfolio securities listed on the NASDAQ Stock Market, LLC ("NASDAQ") is valued at its last sale price or official closing
 price on that exchange on the close of that exchange on the date as of which assets are valued. If a security is listed on more than one
 exchange, the Funds will use the price on the exchange that the Funds generally consider to be the principal exchange on which the security
 is traded.

Portfolio securities listed on NASDAQ will be valued at the NASDAQ Official Closing Price ("NOCP"), which may not necessarily represent the last sale price. If there has been no sale on such exchange or on NASDAQ on such day, the security is valued at the most recent quoted bid at the close of the exchange on such day or the security shall be valued at the latest sales price on the "composite market" for the day such security is being valued. The composite market is defined as a consolidation of the trade information provided by national securities and foreign exchanges and over-the-counter markets as published by an approved independent pricing service (a "Pricing Service").

Debt securities, including short-term debt instruments having a maturity of 60 days or less, are valued at prices supplied by an approved Pricing Service. Where the price of a long-term debt security is not available from a Pricing Service, the most recent quotation from one or more broker-dealers known to follow the issue will be obtained. Quotations will be valued at the bid price. When a Fund buys a when-issued, new issue or delayed delivery debt security and the security is not yet being traded or priced by a Pricing Service, the security will be valued at cost. Thereafter, the security will be valued at its market value or its fair value if the security has not commenced trading or is not priced by a Pricing Service for longer than five days. Any discount or premium is accreted or amortized using the constant yield method until maturity.

Forward currency contracts are valued at the mean between the bid and asked prices.

Redeemable securities issued by open-end, registered investment companies, including money market funds, are valued at the net asset values ("NAVs") of such companies for purchase and/or redemption orders placed on that day. All ETFs are valued at the last reported sale price on the exchange on which the security is principally traded.

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**February 28, 2026 (Unaudited)(Continued)** 

Foreign securities will be priced in their local currencies. Foreign securities, currencies and other assets denominated in foreign currencies are then translated into U.S. dollars at the exchange rate of such currencies against the U.S. dollar, as provided by an approved Pricing Service or reporting agency. All assets denominated in foreign currencies will be converted into U.S. dollars using the applicable currency exchange rates as of the close of the New York Stock Exchange ("NYSE"), generally 4:00 p.m. Eastern Time. Occasionally, events which affect the values of such securities may occur between the times at which the values are determined and the close of the New York Stock Exchange and will therefore not be reflected in the computation of a Fund's net asset value. If events materially affecting the value of such securities occur during such period, then these securities will be valued at fair value in good faith as determined by the Adviser in accordance with its fair valuation procedures. Each foreign equity security held by a Fund (other than those traded in countries outside of Canada, Mexico, Central and South America) will be valued at its fair value by using a value determined by an independent pricing agent rather than using the last closing price of such foreign security on its principal overseas market. A value determined by an independent pricing agent will also be used to fair value foreign securities held by a Fund on any day when a foreign market is closed due to a local holiday or other scheduled closure, but the New York Stock Exchange is open.

If market quotations are not readily available, a security or other asset will be valued at its fair value in accordance with Rule 2a-5 of the 1940 Act as determined under the Adviser's fair value pricing procedures, subject to oversight by the Trust's Board of Trustees. These fair value pricing procedures will also be used to price a security when corporate events, events in the securities market and/or world events cause the Adviser to believe that a security's last sale price may not reflect its actual fair value. The intended effect of using fair value pricing procedures is to ensure that a Fund is accurately priced. The Adviser will regularly evaluate whether a Fund's fair value pricing procedures continue to be appropriate in light of the specific circumstances of the Fund and the quality of prices obtained through the application of such procedures.

FASB Accounting Standards Codification, "Fair Value Measurement" Topic 820 ("ASC 820"), establishes an authoritative definition of fair value and sets out a hierarchy for measuring fair value. ASC 820 requires an entity to evaluate certain factors to determine whether there has been a significant decrease in volume and level of activity for the security such that recent transactions and quoted prices may not be determinative of fair value and further analysis and adjustment may be necessary to estimate fair value. ASC 820 also requires enhanced disclosures regarding the inputs and valuation techniques used to measure fair value in those instances as well as expanded disclosure of valuation levels for each class of investments. These inputs are summarized in the three broad levels listed below:

Level 1 – Quoted prices in active markets for identical securities.

Level 2 – Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).

Level 3 – Significant unobservable inputs (including the Fund's own assumptions in determining the fair value of investments).

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**NOTES TO FINANCIAL STATEMENTS** 

**February 28, 2026 (Unaudited)(Continued)** 

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. The following is a summary of the inputs used to value each Fund's investments carried at fair value as of February 28, 2026:

**Column Small Cap Select Fund** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1** | **Level 2** | **Level 3\*\*** | **Total**  |
| Common Stocks\* | $1614444995 | $7974935 | $— | $1622419930  |
| Real Estate Investment Trusts | 18742220 |  |  | 18742220  |
| Exchange Traded Funds | 16132328 |  |  | 16132328  |
| Rights |  |  | 132092 | 132092  |
| Money Market Funds | 66007418 |  |  | 66007418  |
| **Total Investments in Securities** | $1715326961 | $7974935 | $132092 | $1723433988 |

---

\* For further information regarding industry classifications, see the Schedule of Investments.

\*\* Management has determined that since the value of Level 3 securities is less than 1% of total net assets and therefore immaterial, the reconciliation of Level 3 securities and quantitative valuation information is not shown for the period ended February 28, 2026. 

**Column Small Cap Fund** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1** | **Level 2** | **Level 3\*\*\*** | **Total**  |
| Common Stocks\* | $480165338 | $7088041 | $490084 | $487743463  |
| Real Estate Investment Trusts | 5278993 |  |  | 5278993  |
| Exchange Traded Funds | 3846891 |  |  | 3846891  |
| Rights |  |  | 28397 | 28397  |
| Warrants | 1167 |  |  | 1167  |
| Money Market Funds | 17230328 |  |  | 17230328  |
| **Total Investments in Securities** | $506522717 | $7088041 | $518481 | $514129239  |
| **Other Financial Instruments\*\***<br>|  |  |  |  |
| Forward Currency Contracts | $— | $(5987) | $— | $(5987) |

---

\* For further information regarding industry classifications, see the Schedule of Investments.

\*\* Other financial instruments are derivative instruments not reflected in the Schedule of Investments, such as forward currency contracts. Forward currency contracts are reflected as the net unrealized appreciation (depreciation) on the instrument.

\*\*\* Management has determined that since the value of Level 3 securities is less than 1% of total net assets and therefore immaterial, the reconciliation of Level 3 securities and quantitative valuation information is not shown for the period ended February 28, 2026. 

**Column Mid Cap Select Fund** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1** | **Level 2** | **Level 3** | **Total**  |
| Common Stocks\* | $2825173705 | $— | $— | $2825173705  |
| Real Estate Investment Trusts | 93354207 |  |  | 93354207  |
| Money Market Funds | 86481566 |  |  | 86481566  |
| **Total Investments in Securities** | $3005009478 | $— | $— | $3005009478 |

---

\* For further information regarding industry classifications, see the Schedule of Investments.

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**NOTES TO FINANCIAL STATEMENTS** 

**February 28, 2026 (Unaudited)(Continued)** 

**Column Mid Cap Fund** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1** | **Level 2** | **Level 3** | **Total**  |
| Common Stocks\* | $1015727186 | $13758462 | $— | $1029485648  |
| Real Estate Investment Trusts | 31745578 |  |  | 31745578  |
| Preferred Stocks |  | 1198786 |  | 1198786  |
| Exchange Traded Funds | 819571 |  |  | 819571  |
| Warrants | 3461 |  |  | 3461  |
| Money Market Funds | 24335981 |  |  | 24335981  |
| **Total Investments in Securities** | $1072631777 | $14957248 | $— | $1087589025  |
| **Other Financial Instruments\*\***<br>|  |  |  |  |
| Forward Currency Contracts | $— | $(39656) | $— | $(39656) |

---

\* For further information regarding industry classifications, see the Schedule of Investments.

\*\* Other financial instruments are derivative instruments not reflected in the Schedule of Investments, such as forward currency contracts. Forward currency contracts are reflected as the net unrealized appreciation (depreciation) on the instrument.

&nbsp;&nbsp;&nbsp;&nbsp;(B) *Foreign Securities and Currency Translations.* Investment securities and other assets and liabilities denominated in foreign currencies are translated
 into U.S. dollar amounts at the date of valuation. Purchases and sales of investment securities and income and expense items denominated
 in foreign currencies are translated into U.S. dollar amounts on the respective dates of such transactions.

The Funds do not isolate the portion of the results of operations from changes in foreign exchange rates on investments from the fluctuations arising from changes in market prices of securities held. Reported net realized foreign exchange gains or losses arise from sales of portfolio securities, sales and maturities of short-term securities, sales of foreign currencies, currency gains or losses realized between trade and settlement dates on securities transactions, and the difference between the amounts of dividends, interest and foreign withholding taxes recorded on the Funds' books, and the U.S. dollar equivalent of the amounts actually received or paid. Net unrealized foreign exchange gains and losses arising from changes in the values of investments in securities from fluctuations in exchange rates are reported within unrealized gain (loss) on investments.

Investments in foreign securities entail certain risks. There may be a possibility of nationalization or expropriation of assets, confiscatory taxation, political or financial instability, and diplomatic developments that could affect the value of a Fund's investments in certain foreign countries. Since foreign securities normally are denominated and traded in foreign currencies, the value of a Fund's assets may be affected favorably or unfavorably by currency exchange rates, currency exchange control regulations, foreign withholding taxes, and restrictions or prohibitions on the repatriation of foreign currencies. There may be less information publicly available about a foreign issuer than about a U.S. issuer, and foreign issuers are not generally subject to accounting, auditing, and financial reporting standards and practices comparable to those in the United States. The securities of some foreign issuers are less liquid and at times more volatile than securities of comparable U.S. issuers.

&nbsp;&nbsp;&nbsp;&nbsp;(C) *Federal Income Taxes.* Each Fund intends to comply with the requirements of Subchapter M of the Internal Revenue Code of 1986, as amended (the
 "Code"), necessary to qualify as a regulated investment company and makes the requisite distributions of income and capital
 gains to its shareholders sufficient to relieve it of all or substantially all federal income taxes. Therefore, no federal income tax
 provision has been provided.

As of and during the year ended August 31, 2025, the Funds did not have a liability for any unrecognized tax benefits. The Funds recognize interest and penalties, if any, related to

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**February 28, 2026 (Unaudited)(Continued)** 

unrecognized tax benefits as income tax expense in the Statements of Operations. During the year ended August 31, 2025, the Funds did not incur any interest or penalties. The Funds are subject to examination by U.S. taxing authorities for the year ended August 31, 2025, and the period ended August 31, 2024.

&nbsp;&nbsp;&nbsp;&nbsp;(D) *Distributions to Shareholders.* The Funds will distribute any net investment income and any net realized long- or short-term capital gains at
 least annually. Distributions from net realized gains for book purposes may include short-term capital gains. All short-term capital gains
 are included in ordinary income for tax purposes. Distributions to shareholders are recorded on the ex-dividend date. The Funds may also
 pay a special distribution at the end of the calendar year to comply with federal tax requirements. Income and capital gains distributions
 may differ from GAAP, primarily due to timing differences in the recognition of income, gains and losses by the Funds. GAAP requires that
 certain components of net assets relating to permanent differences be reclassified between the components of net assets. These reclassifications
 have no effect on net assets or NAV per share.

&nbsp;&nbsp;&nbsp;&nbsp;(E) *Use of Estimates.* The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect
 the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements
 and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

&nbsp;&nbsp;&nbsp;&nbsp;(F) *Share Valuation.* The NAV per share of a Fund is calculated by dividing the sum of the value of the securities held by the Fund, plus cash or other
 assets, minus all liabilities (including estimated accrued expenses) by the total number of shares outstanding for the Fund, rounded to
 the nearest cent. The Funds' shares will not be priced on the days on which the NYSE is closed for trading.

&nbsp;&nbsp;&nbsp;&nbsp;(G) *Expenses.* Expenses
 associated with a specific fund in the Trust are charged to that fund. Common Trust expenses are typically allocated evenly between the
 funds of the Trust, or by other equitable means.

&nbsp;&nbsp;&nbsp;&nbsp;(H) *Other.* Investment
 transactions are recorded on the trade date. The Funds determine the gain or loss from investment transactions using the specific identification
 method for the best tax relief order by comparing the original cost of the security lot sold with the net sale proceeds. Dividend income,
 less foreign withholding tax, is recognized on the ex-dividend date and interest income is recognized on an accrual basis. Withholding
 taxes on foreign dividends have been provided for in accordance with the Funds' understanding of the applicable country's
 tax rules and rates. Distributions received from a Fund's investments in Real Estate Investment Trusts ("REITs") are
 comprised of ordinary income, capital gains and return of capital, as applicable. For financial statement purposes, the Funds use estimates
 to characterize these distributions received as return of capital, capital gains or ordinary income. Such estimates are based on historical
 information available from each REIT and other industry sources. These estimates may subsequently be revised based on information received
 for the security after its tax reporting periods are concluded, as the actual character of these distributions is not known until after
 the fiscal year end of a Fund. Changes to estimates will be recorded in the period they are known. The distributions received from REIT
 securities that have been classified as income and capital gains are included in dividend income and net realized gain on investments,
 respectively, on the Statements of Operations. The distributions received that are classified as return of capital reduced the cost of
 investments on the Statements of Assets and Liabilities.

&nbsp;&nbsp;&nbsp;&nbsp;(I) *Segment Reporting.* Management has evaluated the impact of adopting ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures
 with respect to the financial statements and disclosures and determined there is no material impact for the Funds. Each Fund operates
 as a single segment entity. Each Fund's income,

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**NOTES TO FINANCIAL STATEMENTS** 

**February 28, 2026 (Unaudited)(Continued)** 

expenses, assets, and performance are regularly monitored and assessed by both the President and Chief Investment Officer of the Adviser, who serve as the chief operating decision makers, using the information presented in the financial statements and financial highlights.

&nbsp;&nbsp;&nbsp;&nbsp;(J) *Derivative Instruments.* As a non-principal investment strategy, the Funds may enter into forward currency contracts. This strategy is intended to minimize
 the risk of loss due to a decline in the value of the hedged currency, although it could also limit any potential gain from an increase
 in the value of the currency. A forward currency contract is an obligation to purchase or sell a specific currency at a future date, which
 may be any fixed number of days from the date of the contract agreed upon by the parties, at a price set at the time of the contract.
 Forward currency contracts are considered derivatives and the Adviser and sub-advisers intend to limit each Fund's investments in
 forward currency contracts in order for each Fund to qualify as a limited derivatives user as defined in Rule 18f-4 under the 1940
 Act. As of February 28, 2026, the fair value of derivative instruments in the Funds is described below:

**Column Small Cap Fund** 

Statements of Assets and Liabilities—

Value of Derivative Instruments as of February 28, 2026:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Asset Derivatives** | **Asset Derivatives** | **Liability Derivatives**  | **Liability Derivatives**  |
|  | **Statements of Assets** <br>**and Liabilites Location** | **Value** | **Statements of Assets** <br>**and Liabilites Location** | **Value**  |
|  Forward Currency Exchange Contracts | Unrealized appreciation <br>on forward currency <br>exchange contracts | $1868 | Unrealized depreciation <br>on forward currency <br>exchange contracts | $7855  |
| **Total** |  | $1868 |  | $7855 |

---

The Effect of Derivative Instruments on the Statements of Operations for the period ended February 28, 2026:

---

| | | | |
|:---|:---|:---|:---|
| **Amount of Realized Gain (Loss)** <br>**on Derivatives** | **Forward** <br>**Currency** <br>**Contracts** | **Change in Unrealized Appreciation (Depreciation) on Derivatives** | **Forward** <br>**Currency** <br>**Contracts**  |
| &nbsp;&nbsp;&nbsp; Forward Currency Exchange <br>Conracts | $7116 | Forward Currency Exchange <br>Contracts | $(5273)  |
| **Total** | $7116 | **Total** | $(5273) |

---

**Column Mid Cap Fund** 

Statements of Assets and Liabilities—

Value of Derivative Instruments as of February 28, 2026:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Asset Derivatives** | **Asset Derivatives** | **Liability Derivatives**  | **Liability Derivatives**  |
|  | **Statements of Assets** <br>**and Liabilites Location** | **Value** | **Statements of Assets** <br>**and Liabilites Location** | **Value**  |
|  Forward Currency Exchange Contracts | Unrealized appreciation <br>on forward currency <br>exchange contracts | $6221 | Unrealized depreciation <br>on forward currency <br>exchange contracts | $45877  |
| **Total** |  | $6221 | **Total** | $45877 |

---

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**NOTES TO FINANCIAL STATEMENTS** 

**February 28, 2026 (Unaudited)(Continued)** 

The Effect of Derivative Instruments on the Statements of Operations for the period ended February 28, 2026

---

| | | | |
|:---|:---|:---|:---|
| **Amount of Realized Gain (Loss) on Derivatives** | **Forward** <br>**Currency** <br>**Contracts** | **Change in Unrealized Appreciation (Depreciation) on Derivatives** | **Forward** <br>**Currency** <br>**Contracts**  |
| &nbsp;&nbsp;&nbsp; Forward Currency Exchange <br>Conracts | $(56727) | Forward Currency Exchange Contracts | $81200  |
| **Total** | $(56727) | **Total** | $81200 |

---

The Funds are not subject to any Master Netting Arrangements; therefore, the Funds do not offset any assets or liabilities.

**Volume Disclosures** 

The average monthly notional amount outstanding of forward currency exchange contracts during the period ended February 28, 2026, was as follows:

---

| | |
|:---|:---|
| Column Small Cap Fund | $1655077  |
| Column Mid Cap Fund | $13800962 |

---

The Column Small Cap Select Fund and Column Mid Cap Select Fund did not invest in any derivatives during the period ended February 28, 2026.

3. FEDERAL TAX MATTERS

The tax character of distributions paid during the fiscal year ended August 31, 2025, and period ended August 31, 2024, was as follows:

**Column Small Cap Select Fund** 

---

| | | |
|:---|:---|:---|
|  | **Year Ended** <br>**August 31, 2025** | **Period Ended** <br>**August 31, 2024**  |
| Ordinary Income | $9387328 | &nbsp;&nbsp;&nbsp; $—  |
| Long Term Capital gain |  | &nbsp;&nbsp;&nbsp; —  |
| Total | $9387328 | &nbsp;&nbsp;&nbsp; $— |

---

**Column Small Cap Fund** 

---

| | | |
|:---|:---|:---|
|  | **Year Ended** <br>**August 31, 2025** | **Period Ended** <br>**August 31, 2024**  |
| Ordinary Income | $11046164 | &nbsp;&nbsp;&nbsp; $—  |
| Long Term Capital gain | 21310 | &nbsp;&nbsp;&nbsp; —  |
| Total | $11067474 | &nbsp;&nbsp;&nbsp; $— |

---

**Column Mid Cap Select Fund** 

---

| | | |
|:---|:---|:---|
|  | **Year Ended** <br>**August 31, 2025** | **Period Ended** <br>**August 31, 2024**  |
| Ordinary Income | $16891200 | &nbsp;&nbsp;&nbsp; $—  |
| Long Term Capital gain |  | &nbsp;&nbsp;&nbsp; —  |
| Total | $16891200 | &nbsp;&nbsp;&nbsp; $— |

---

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**February 28, 2026 (Unaudited)(Continued)** 

**Column Mid Cap Fund** 

---

| | | |
|:---|:---|:---|
|  | **Year Ended** <br>**August 31, 2025** | **Period Ended** <br>**August 31, 2024**  |
| Ordinary Income | $9140919 | &nbsp;&nbsp;&nbsp; $—  |
| Long Term Capital gain | 20800 | &nbsp;&nbsp;&nbsp; —  |
| Total | $9161719 | &nbsp;&nbsp;&nbsp; $— |

---

As of August 31, 2025, the components of accumulated earnings on a tax basis were as follows:

---

| | | |
|:---|:---|:---|
|  | **Column** <br>**Small Cap** <br>**Select Fund** | **Column** <br>**Small Cap** <br>**Fund**  |
| Cost basis of investments for federal income tax purposes | $1278341312 | $439664880  |
| Gross tax unrealized appreciation | $248757823 | $75832398  |
| Gross tax unrealized depreciation | (88302897) | (36411548)  |
| Net tax unrealized appreciation | 160454926 | 39420850  |
| Undistributed ordinary income | 4757403 | 5597805  |
| Undistributed long-term capital gain |  | 9240577  |
| Distributable earnings | 4757403 | 14838382  |
| Other accumulated losses | (928598) | (10212)  |
| Total distributable earnings | $164283731 | $54249020 |

---

---

| | | |
|:---|:---|:---|
|  | **Column** <br>**Mid Cap** <br>**Select Fund** | **Column** <br>**Mid Cap** <br>**Fund**  |
| Cost basis of investments for federal income tax purposes | $2334292841 | $871065957  |
| Gross tax unrealized appreciation | $395047899 | $172019776  |
| Gross tax unrealized depreciation | (136567201) | (46753887)  |
| Net tax unrealized appreciation | 258480698 | 125265889  |
| Undistributed ordinary income | 13752902 | 4833298  |
| Undistributed long-term capital gain | 29061972 | 30042386  |
| Distributable earnings | 42814874 | 34875684  |
| Other accumulated losses | (38768) | (53139)  |
| Total distributable earnings | $301256804 | $160088434 |

---

Investments for federal income tax purposes in the above table include foreign currencies and derivatives. The difference between book-basis and tax-basis cost is attributable primarily to the tax deferral of losses on wash sale adjustments, PFIC mark-to-market adjustments, and forward contracts mark-to-market adjustments.

At August 31, 2025, the Funds had the following capital loss carryovers which will be carried forward indefinitely to offset future realized capital gains:

---

| | | | |
|:---|:---|:---|:---|
|  | **Short-Term** | **Long-Term** | **Total**  |
| Column Small Cap Select Fund | $(894330) | $— | $(894330)  |
| Column Small Cap Fund |  |  | —  |
| Column Mid Cap Select Fund |  |  | —  |
| Column Mid Cap Fund |  |  |  |

---

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**NOTES TO FINANCIAL STATEMENTS** 

**February 28, 2026 (Unaudited)(Continued)** 

During the year ended August 31, 2025, the Funds utilized the following capital loss carryovers to offset realized capital gains:

---

| | | | |
|:---|:---|:---|:---|
|  | **Short-Term** | **Long-Term** | **Total**  |
| Column Small Cap Select Fund | $4440482 | $— | $4440482  |
| Column Small Cap Fund |  |  | —  |
| Column Mid Cap Select Fund | 6231497 |  | 6231497  |
| Column Mid Cap Fund | 951744 |  | 951744 |

---

GAAP requires that certain components of net assets relating to permanent differences be reclassified between financial and tax reporting. These reclassifications have no effect on net assets or net asset value per share. For the fiscal year ended August 31, 2025, the following reclassifications were made on the Statements of Assets and Liabilities due to permanent tax differences:

---

| | | |
|:---|:---|:---|
|  | **Paid-in Capital** | **Total** <br>**Distributable** <br>**Earnings**  |
| Column Small Cap Select Fund | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $—  |
| Column Small Cap Fund | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; —  |
| Column Mid Cap Select Fund | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; —  |
| Column Mid Cap Fund\* | &nbsp;&nbsp;&nbsp;&nbsp; (4893) | &nbsp;&nbsp;&nbsp; 4893 |

---

\* This reclassification is due to spin off and partnership adjustments.

4. INVESTMENT ADVISER

The Trust has an Investment Advisory Agreement (the "Agreement") with Mason Street Advisors, LLC to furnish investment advisory services to the Funds. Under the terms of the Agreement, the Funds compensate the Adviser for its management services based on an annual rate equal to a percentage of each Fund's average daily net assets, as set forth in the table below.

---

| | |
|:---|:---|
| Column Small Cap Select Fund | 0.78% on the first $250 million  |
|  | 0.76% on the next $250 million  |
|  | 0.74% on the next $500 million  |
|  | 0.72% over $1 billion  |
| Column Small Cap Fund | 0.78% on the first $250 million  |
|  | 0.76% on the next $250 million  |
|  | 0.74% on the next $500 million  |
|  | 0.72% over $1 billion  |
| Column Mid Cap Select Fund | 0.72% on the first $250 million  |
|  | 0.70% on the next $250 million  |
|  | 0.68% on the next $500 million  |
|  | 0.66% over $1 billion  |
| Column Mid Cap Fund | 0.72% on the first $250 million  |
|  | 0.70% on the next $250 million  |
|  | 0.68% on the next $500 million  |
|  | 0.66% over $1 billion |

---

Pursuant to a Management Fee Waiver Agreement, the Adviser has contractually agreed, through at least December 31, 2026, to waive its management fees with respect to each Fund to the extent such management fees exceed the management fees that the Adviser is required to pay to the Fund's designated sub-adviser(s) for management of allocated portions of the Fund. The Adviser may not recoup these waivers in future periods.

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**[**TABLE OF CONTENTS**](#TOC)**

**COLUMN FUNDS** 

**NOTES TO FINANCIAL STATEMENTS** 

**February 28, 2026 (Unaudited)(Continued)** 

Pursuant to an Administrative Services Agreement, the Adviser also provides or procures management of certain of the Funds' administrative affairs, including review of shareholder reports and other regulatory filings prepared by the Funds' administrator; oversight of the Funds' primary service providers; periodic due diligence reviews of the Funds' primary service providers; coordination and negotiation of contracts and pricing relating to the Funds' primary service providers; and such other duties or services necessary for the appropriate operation of the Funds that are incidental to the foregoing services. For such administrative services, under the Administrative Services Agreement, each Fund pays the Adviser an administrative services fee computed daily and paid monthly, based on an annual rate equal to 0.02% of the Fund's average daily net assets.

Sub-advisory services are provided to the Funds, pursuant to investment sub-advisory agreements between the Adviser and the below listed sub-advisers. Under the terms of these investment sub-advisory agreements, the Adviser compensates the sub-advisers based on each Fund's average daily net assets.

<u>Column Small Cap Select Fund</u>

Boston Partners Global Investors, Inc. (WPG Partners division)

Driehaus Capital Management LLC

Neuberger Berman Investment Advisers LLC

Vaughan Nelson Investment Management, L.P.

<u>Column Small Cap Fund</u>

American Century Investment Management, Inc.

American Century Investment Management, Inc. (Avantis Investors division)

Boston Partners Global Investors, Inc. (WPG Partners division)

Franklin Mutual Advisers, LLC

Kayne Anderson Rudnick Investment Management, LLC

Neuberger Berman Investment Advisers LLC

Vaughan Nelson Investment Management, L.P.

<u>Column Mid Cap Select Fund</u>

Boston Partners Global Investors, Inc.

EARNEST Partners, LLC

Kayne Anderson Rudnick Investment Management, LLC

<u>Column Mid Cap Fund</u>

American Century Investment Management, Inc.

American Century Investment Management, Inc. (Avantis Investors division)

Boston Partners Global Investors, Inc.

EARNEST Partners, LLC

Invesco Advisers, Inc.

Kayne Anderson Rudnick Investment Management, LLC

5. SHAREHOLDER SERVICING PLAN

The Trust has adopted a Shareholder Servicing Plan on behalf of the Funds to pay for shareholder support services from each Fund's assets pursuant to a Shareholder Servicing Agreement at an annual rate not to exceed 0.10% of a Fund's average daily net assets. Currently, the annual rate of the shareholder servicing fee being charged for each Fund is 0.06% of the Fund's average daily net assets; however, the fee may be increased up to 0.10% of a Fund's average daily net assets, at any time. Each Fund is responsible for paying a portion of shareholder servicing fees to each of the shareholder servicing agents who have written shareholder servicing agreements with a Fund and perform shareholder servicing functions and maintenance of shareholder accounts on behalf of shareholders. The following table details the fees incurred by the Funds pursuant to the Shareholder Servicing Plan during the period ended February 28, 2026, as well as the fees owed as of February 28, 2026.

54<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**COLUMN FUNDS** 

**NOTES TO FINANCIAL STATEMENTS** 

**February 28, 2026 (Unaudited)(Continued)** 

---

| | | |
|:---|:---|:---|
|  | **Fees Incurred** | **Fees Owed**  |
| Column Small Cap Select Fund | &nbsp;&nbsp; $470707 | $79950  |
| Column Small Cap Fund | &nbsp;&nbsp; $145330 | $23732  |
| Column Mid Cap Select Fund | &nbsp;&nbsp; $816368 | $136549  |
| Column Mid Cap Fund | &nbsp;&nbsp; $303646 | $49199 |

---

6. RELATED PARTY TRANSACTIONS

U.S. Bancorp Fund Services, LLC, doing business as U.S. Bank Global Fund Services ("Fund Services" or the "Administrator"), acts as the Funds' administrator under a Fund Servicing Agreement. The Administrator prepares various federal and state regulatory filings, reports and returns for the Funds; prepares reports and materials to be supplied to the Trustees; monitors the activities of the Funds' custodian, transfer agent and fund accountant; coordinates the preparation and payment of the Funds' expenses; and reviews the Funds' expense accruals. Fund Services also serves as the fund accountant and transfer agent to the Funds. U.S. Bank N.A. ("U.S. Bank" or the "Custodian"), an affiliate of Fund Services, serves as the Funds' custodian pursuant to a Custody Agreement. The Trust's Chief Compliance Officer is also an employee of Fund Services. Expenses incurred by the Funds for the period ended February 28, 2026, and owed as of February 28, 2026, are included in the Statements of Operations and Statements of Assets and Liabilities.

The Funds also have a line of credit with U.S. Bank (see Note 9).

Certain officers of the Funds are also employees of Fund Services. During the period ended February 28, 2026, a Trustee of the Trust was affiliated with Fund Services and U.S. Bank.

7. INVESTMENT TRANSACTIONS

The aggregate purchases and sales of securities, excluding short-term investments, for the Funds for the period ended February 28, 2026, are listed in the following table. For the period ended February 28, 2026, there were no purchases or sales of U.S. government securities for the Funds.

---

| | | |
|:---|:---|:---|
|  | **Purchases** | **Sales**  |
| Column Small Cap Select Fund | $884333997 | $855028604  |
| Column Small Cap Fund | $161087482 | $172677778  |
| Column Mid Cap Select Fund | $451782160 | $270906556  |
| Column Mid Cap Fund | $219052093 | $227334030 |

---

8. BENEFICIAL OWNERSHIP

The beneficial ownership, either directly or indirectly, of more than 25% of the voting securities of a fund creates a presumption of control of the fund, under Section 2(a)(9) of the 1940 Act. At February 28, 2026, Pershing LLC, for the benefit of its customers, held 100% of each Fund's shares outstanding. Pershing LLC is the financial intermediary used by Northwestern Mutual Wealth Management Company's advisory programs that offer the Funds' shares.

9. LINE OF CREDIT

The Funds and U.S. Bank, N.A. entered into an umbrella line of credit agreement in the amount of up to $100,000,000, which matures on August 1, 2026. This unsecured line of credit agreement is intended to provide short-term financing, if necessary, subject to certain restrictions, in connection with shareholder redemptions from the Funds. The maximum borrowing cannot exceed 20% of the total market value or 33.33% of the net market value of a Fund's unencumbered assets. Interest on amounts borrowed under the line of credit will be accrued at the prime rate, which as of February 28, 2026, was 6.75%. The Column Mid Cap Select Fund and Column Mid Cap Fund did not draw on the line of credit during the period ended February 28, 2026. The following table provides information regarding usage of

55<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**COLUMN FUNDS** 

**NOTES TO FINANCIAL STATEMENTS** 

**February 28, 2026 (Unaudited)(Continued)** 

the line of credit for the Column Small Cap Select Fund and Column Small Cap Fund for the period ended February 28, 2026. The Funds did not have any outstanding balances on the line of credit at February 28, 2026.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Days** <br>**Utilized** | **Average** <br>**Amount of** <br>**Borrowing** | **Average** <br>**Borrowing** <br>**Rate**  | **Interest** <br>**Expense** | **Maximum** <br>**Amount of** <br>**Borrowing** | **Date of** <br>**Maximum** <br>**Borrowing**  |
| Column Small Cap Select Fund | &nbsp;&nbsp;&nbsp;&nbsp; 1 | $234000 | &nbsp;&nbsp;&nbsp; 6.75% | &nbsp;&nbsp;&nbsp; $44 | $234000 | 12/16/2025  |
| Column Small Cap Fund | &nbsp;&nbsp;&nbsp;&nbsp; 1 | $5000 | &nbsp;&nbsp;&nbsp; 7.00% | &nbsp;&nbsp;&nbsp; $1 | $5000 | 11/4/2025 |

---

10. SUBSEQUENT EVENTS

The Funds have evaluated events and transactions that have occurred subsequent to February 28, 2026, through the date the financial statements were issued and determined there were no subsequent events that would require disclosure in the financial statements.

11. RECENT MARKET EVENTS

U.S. and international markets have experienced and may continue to experience significant periods of volatility in recent years and months due to a number of economic, political and global macro factors including uncertainty regarding inflation and central banks' interest rate changes, the possibility of a national or global recession, trade tensions, tariffs, political events, and geopolitical conflicts. As a result of continuing political tensions and armed conflicts, including the wars in Europe and the Middle East, markets have experienced increased volatility. These developments, as well as other events, could result in further market volatility and negatively affect financial asset prices, the liquidity of certain securities and the normal operations of securities exchanges and other markets, despite government efforts to address market disruptions. Continuing market volatility as a result of recent market conditions or other events may have adverse effects on the performance of the Funds.

12. NEW ACCOUNTING PRONOUNCEMENT

In December 2023, the FASB issued ASU 2023-09 Income Taxes (Topic 740): Improvements to Income Tax Disclosures. Effective for annual periods beginning after December 15, 2024, the amendments require greater disaggregation of disclosures related to income taxes paid. The Funds have adopted ASU 2023-09, with no material impact on the Funds' financial statements.

56<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**COLUMN FUNDS** 

**ADDITIONAL INFORMATION (Unaudited)** 

**The below information is required disclosure for Form N-CSR** 

**Item 8. Changes in and Disagreements with Accountants for Open-End Investment Companies.** 

There were no changes in or disagreements with accountants during the period covered by this report.

**Item 9. Proxy Disclosure for Open-End Investment Companies** 

There were no matters submitted to a vote of shareholders during the period covered by this report.

**Item 10. Remuneration Paid to Directors, Officers, and Others of Open-End Investment Companies.** 

Information regarding remuneration paid by the Funds is disclosed within the financial statements.

**Item 11. Statement Regarding Basis for Approval of Investment Advisory and Sub-Advisory Agreements.** 

Not applicable.

57<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**COLUMN FUNDS** 

**ADDITIONAL INFORMATION (Unaudited) (Continued)** 

**TAX INFORMATION** 

For the fiscal year ended August 31, 2025, the percentage of taxable ordinary income distributions that are designated as short-term capital gain distributions under Internal Revenue Section 871(k)(2)(C) for each Fund were as follows:

---

| | |
|:---|:---|
| Column Small Cap Select Fund | 0.00%  |
| Column Small Cap Fund | 58.74%  |
| Column Mid Cap Select Fund | 0.00%  |
| Column Mid Cap Fund | 0.00% |

---

For the fiscal year ended August 31, 2025, certain dividends paid by the Funds may be subject to a maximum tax rate of 15%, as provided for by the Jobs and Growth Tax Relief Reconciliation Act of 2003. The percentage of dividends declared from ordinary income designated as qualified dividend income were as follows:

---

| | |
|:---|:---|
| Column Small Cap Select Fund | 71.52%  |
| Column Small Cap Fund | 46.02%  |
| Column Mid Cap Select Fund | 100.00%  |
| Column Mid Cap Fund | 100.00% |

---

For corporate shareholders, the percent of ordinary income distributions qualifying for the corporate dividends received deduction for the fiscal year ended August 31, 2025 were as follows:

---

| | |
|:---|:---|
| Column Small Cap Select Fund | 61.14%  |
| Column Small Cap Fund | 40.28%  |
| Column Mid Cap Select Fund | 100.00%  |
| Column Mid Cap Fund | 100.00% |

---

58<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**Investment Adviser** 

**Mason Street Advisors, LLC** 

**720 East Wisconsin Avenue** 

**Milwaukee, Wisconsin 53202** 

**Independent Registered Public Accounting Firm** 

**Cohen & Company, Ltd.** 

**342 North Water Street, Suite 830** 

**Milwaukee, Wisconsin 53202** 

**Legal Counsel** 

**Godfrey & Kahn, S.C.** 

**833 East Michigan Street, Suite 1800** 

**Milwaukee, Wisconsin 53202** 

**Custodian** 

**U.S. Bank, National Association** 

**Custody Operations** 

**1555 North River Center Drive, Suite 302** 

**Milwaukee, Wisconsin 53212** 

**Transfer Agent, Fund Accountant and Fund Administrator** 

**U.S. Bancorp Fund Services, LLC** 

**615 East Michigan Street** 

**Milwaukee, Wisconsin 53202** 

**Distributor** 

**Northwestern Mutual Investment Services, LLC** 

**720 East Wisconsin Avenue** 

**Milwaukee, Wisconsin 53202** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Financial Highlights are included within the financial statements filed under Item 7(a)
 of this Form.

**<u>Item 8. Changes in and Disagreements with Accountants for Open-End Investment Companies.</u>**

There were no changes in or disagreements with accountants during the period covered by this report.

**<u>Item 9. Proxy Disclosure for Open-End Investment Companies</u>**

There were no matters submitted to a vote of shareholders during the period covered by this report.

**<u>Item 10. Remuneration Paid to Directors, Officers, and Others of Open-End Investment Companies.</u>**

This information is included within the financial statements filed under Item 7(a) of this Form.

**<u>Item 11. Statement Regarding Basis for Approval of Investment Advisory Contract.</u>**

Not applicable as the investment advisory contract was not approved during the reporting period.

**<u>Item 12. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.</u>**

Not applicable to open-end investment companies.

**<u>Item 13. Portfolio Managers of Closed-End Management Investment Companies.</u>**

 

Not applicable to open-end investment companies.

**<u>Item 14. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.</u>**

Not applicable to open-end investment companies.

**<u>Item 15. Submission of Matters to a Vote of Security Holders.</u>**

There have been no material changes to the procedures by which shareholders may recommend nominees to the registrant's board of trustees.

**<u>Item 16. Controls and Procedures.</u>**

&nbsp;&nbsp;&nbsp;&nbsp;(a) The Registrant's Principal Executive Officer and Principal Financial Officer have
 reviewed the Registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act
 of 1940 (the "Act")) as of a date within 90 days of the filing of this report, as required by Rule 30a-3(b) under the
 Act and Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934. Based on their review, such officers have concluded
 that the disclosure controls and procedures are effective in ensuring that information required to be disclosed in this report is appropriately
 recorded, processed, summarized and reported and made known to them by others within the Registrant and by the Registrant's service
 provider.

&nbsp;&nbsp;&nbsp;&nbsp;(b) There were no changes in the Registrant's internal control over financial reporting
 (as defined in Rule 30a-3(d) under the Act) that occurred during the period covered by this report that have materially affected, or are
 reasonably likely to materially affect, the Registrant's internal control over financial reporting.

**<u>Item 17. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies</u>**

Not applicable to open-end investment companies.

**<u>Item 18. Recovery of Erroneously Awarded Compensation.</u>**

Not applicable

**<u>Item 19. Exhibits.</u>**

&nbsp;&nbsp;&nbsp;&nbsp;*(a)* [(1) *Any code of ethics or amendment thereto, that is the subject of the disclosure required by Item 2, to the extent that the registrant intends to satisfy Item 2 requirements through filing an exhibit.* Incorporated by reference to the Registrant's Form N-CSR filed November 4, 2024.](https://www.sec.gov/Archives/edgar/data/1141819/000113322824010058/tpmcf-efp10194_ex99code.htm)

 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(2) Any policy required by the listing standards adopted pursuant to Rule 10D-1 under the Exchange Act (17 CFR 240.10D-1) by the registered national securities exchange or registered national securities association upon which the registrant's securities are listed.* Not applicable.

 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[*(3) A separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the Investment Company Act of 1940 (17 CFR 270.30a-2(a)).* Filed herewith.](tpm-efp23945_ex99cert.htm)

 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(4) Any written solicitation to purchase securities under Rule 23c-1 under the Act sent or given during the period covered by the report by or on behalf of the registrant to 10 or more persons.* Not applicable.

 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(5) Change in the registrant's independent public accountant. Provide the information called for by Item 4 of Form 8-K under the Exchange Act (17 CFR 249.308). Unless otherwise specified by Item 4, or related to and necessary for a complete understanding of information not previously disclosed, the information should relate to events occurring during the reporting period.* Not applicable.

&nbsp;&nbsp;&nbsp;&nbsp;*(b)* [*Certifications pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.* Furnished herewith.](tpm-efp23945_ex99906cert.htm)

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

(Registrant) Trust for Professional Managers

---

| | |
|:---|:---|
| By (Signature and Title)\* | /s/ Jennifer Lima |
|  | Jennifer Lima, Principal Executive Officer |

---

Date <u>4/28/2026</u>

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

---

| | |
|:---|:---|
| By (Signature and Title)\* | /s/ Jennifer Lima |
|  | Jennifer Lima, Principal Executive Officer |

---

Date <u>4/28/2026</u>

---

| | |
|:---|:---|
| By (Signature and Title)\* | /s/ Kelly Strauss |
|  | Kelly Strauss, Principal Financial Officer |

---

Date <u>4/28/2026</u>

*\* Print the name and title of each signing officer under his or her signature.*

## Ex-99.Cert

**EX.99.CERT**

**<u>CERTIFICATIONS</u>**

I, Jennifer Lima, certify that:

&nbsp;&nbsp;&nbsp;&nbsp;1. I
 have reviewed this report on Form N-CSR of Trust for Professional Managers;

&nbsp;&nbsp;&nbsp;&nbsp;2. Based
 on my knowledge, this report does not contain any untrue statement of a material fact or
 omit to state a material fact necessary to make the statements made, in light of the circumstances
 under which such statements were made, not misleading with respect to the period covered
 by this report;

&nbsp;&nbsp;&nbsp;&nbsp;3. Based
 on my knowledge, the financial statements, and other financial information included in this
 report, fairly present in all material respects the financial condition, results of operations,
 changes in net assets, and cash flows (if the financial statements are required to include
 a statement of cash flows) of the registrant as of, and for, the periods presented in this
 report;

&nbsp;&nbsp;&nbsp;&nbsp;4. The
 registrant's other certifying officer(s) and I are responsible for establishing and
 maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment
 Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d)
 under the Investment Company Act of 1940) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Designed
 such disclosure controls and procedures, or caused such disclosure controls and procedures
 to be designed under our supervision, to ensure that material information relating to the
 registrant, including its consolidated subsidiaries, is made known to us by others within
 those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Designed
 such internal control over financial reporting, or caused such internal control over financial
 reporting to be designed under our supervision, to provide reasonable assurance regarding
 the reliability of financial reporting and the preparation of financial statements for external
 purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Evaluated
 the effectiveness of the registrant's disclosure controls and procedures and presented in
 this report our conclusions about the effectiveness of the disclosure controls and procedures,
 as of a date within 90 days prior to the filing date of this report based on such evaluation;
 and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Disclosed
 in this report any change in the registrant's internal control over financial reporting
 that occurred during the period covered by this report that has materially affected, or is
 reasonably likely to materially affect, the registrant's internal control over financial
 reporting; and

&nbsp;&nbsp;&nbsp;&nbsp;5. The
 registrant's other certifying officer(s) and I have disclosed to the registrant's
 auditors and the audit committee of the registrant's board of directors (or persons
 performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) All
 significant deficiencies and material weaknesses in the design or operation of internal control
 over financial reporting which are reasonably likely to adversely affect the registrant's
 ability to record, process, summarize, and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any
 fraud, whether or not material, that involves management or other employees who have a significant
 role in the registrant's internal control over financial reporting.

---

| | | |
|:---|:---|:---|
| Date: | 4/28/2026 | /s/ Jennifer Lima |
|  |  | Jennifer Lima, Principal Executive Officer |

---

**<u>CERTIFICATIONS</u>**

I, Kelly Strauss, certify that:

&nbsp;&nbsp;&nbsp;&nbsp;1. I
 have reviewed this report on Form N-CSR of Trust for Professional Managers;

&nbsp;&nbsp;&nbsp;&nbsp;2. Based
 on my knowledge, this report does not contain any untrue statement of a material fact or
 omit to state a material fact necessary to make the statements made, in light of the circumstances
 under which such statements were made, not misleading with respect to the period covered
 by this report;

&nbsp;&nbsp;&nbsp;&nbsp;3. Based
 on my knowledge, the financial statements, and other financial information included in this
 report, fairly present in all material respects the financial condition, results of operations,
 changes in net assets, and cash flows (if the financial statements are required to include
 a statement of cash flows) of the registrant as of, and for, the periods presented in this
 report;

&nbsp;&nbsp;&nbsp;&nbsp;4. The
 registrant's other certifying officer(s) and I are responsible for establishing and
 maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment
 Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d)
 under the Investment Company Act of 1940) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Designed
 such disclosure controls and procedures, or caused such disclosure controls and procedures
 to be designed under our supervision, to ensure that material information relating to the
 registrant, including its consolidated subsidiaries, is made known to us by others within
 those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Designed
 such internal control over financial reporting, or caused such internal control over financial
 reporting to be designed under our supervision, to provide reasonable assurance regarding
 the reliability of financial reporting and the preparation of financial statements for external
 purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Evaluated
 the effectiveness of the registrant's disclosure controls and procedures and presented
 in this report our conclusions about the effectiveness of the disclosure controls and procedures,
 as of a date within 90 days prior to the filing date of this report based on such evaluation;
 and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Disclosed
 in this report any change in the registrant's internal control over financial reporting
 that occurred during the period covered by this report that has materially affected, or is
 reasonably likely to materially affect, the registrant's internal control over financial
 reporting; and

&nbsp;&nbsp;&nbsp;&nbsp;5. The
 registrant's other certifying officer(s) and I have disclosed to the registrant's
 auditors and the audit committee of the registrant's board of directors (or persons
 performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) All
 significant deficiencies and material weaknesses in the design or operation of internal control
 over financial reporting which are reasonably likely to adversely affect the registrant's
 ability to record, process, summarize, and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any
 fraud, whether or not material, that involves management or other employees who have a significant
 role in the registrant's internal control over financial reporting.

---

| | | |
|:---|:---|:---|
| Date: | 4/28/2026 | /s/ Kelly Strauss |
|  |  | Kelly Strauss, Principal Financial Officer |

---

## Exhibit 99.906

**EX-99.906CERT**

**<u>Certification Pursuant to Section 906 of the Sarbanes-Oxley Act</u>**

Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, each of the undersigned officers of the Trust for Professional Managers (the "Trust"), does hereby certify, to such officer's knowledge, that the report on Form N-CSR of the Trust for the period ended February 28, 2026 fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as applicable, and that the information contained in the Form N-CSR fairly presents, in all material respects, the financial condition and results of operations of the Trust for the stated period.

---

| | |
|:---|:---|
| /s/ Jennifer Lima | /s/ Kelly Strauss |
| Jennifer Lima<br> Principal Executive Officer, Trust for Professional Managers<br>| Kelly Strauss<br> Principal Financial Officer, Trust for Professional Managers |

---

Dated: <u>4/28/2026</u>

This statement accompanies this report on Form N-CSR pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 and shall not be deemed as filed by the Trust for purposes of Section 18 of the Securities Exchange Act of 1934.