# EDGAR Filing Document

**Accession Number:** 0001872555
**File Stem:** 0001398344-26-000362
**Filing Date:** 2026-1
**Character Count:** 1143640
**Document Hash:** 862889d435604ab2f1df535bffa0aa0f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001398344-26-000362.hdr.sgml**: 20260108

**ACCESSION NUMBER**: 0001398344-26-000362

**CONFORMED SUBMISSION TYPE**: N-CSR

**PUBLIC DOCUMENT COUNT**: 52

**CONFORMED PERIOD OF REPORT**: 20251031

**FILED AS OF DATE**: 20260108

**DATE AS OF CHANGE**: 20260108

**EFFECTIVENESS DATE**: 20260108

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Catholic Responsible Investments Funds
- **CENTRAL INDEX KEY:** 0001872555

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** N-CSR
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23718
- **FILM NUMBER:** 26519932

**BUSINESS ADDRESS:**
- **STREET 1:** ONE FREEDOM VALLEY DRIVE
- **CITY:** OAKS
- **STATE:** PA
- **ZIP:** 19456
- **BUSINESS PHONE:** 610-676-1000

**MAIL ADDRESS:**
- **STREET 1:** ONE FREEDOM VALLEY DRIVE
- **CITY:** OAKS
- **STATE:** PA
- **ZIP:** 19456

## Series and Classes Contracts Data

### CATHOLIC RESPONSIBLE INVESTMENTS BOND FUND (Series ID: S000073781)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000230946 | Investor Shares      | CRBVX           |
| C000230947 | Institutional Shares | CRBSX           |

### CATHOLIC RESPONSIBLE INVESTMENTS OPPORTUNISTIC BOND FUND (Series ID: S000073782)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000230948 | Investor Shares      | CROVX           |
| C000230949 | Institutional Shares | CROSX           |

### CATHOLIC RESPONSIBLE INVESTMENTS SHORT DURATION BOND FUND (Series ID: S000073783)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000230950 | Institutional Shares | CRDSX           |

### CATHOLIC RESPONSIBLE INVESTMENTS SMALL-CAP FUND (Series ID: S000073784)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000230951 | Institutional Shares | CRSSX           |

### CATHOLIC RESPONSIBLE INVESTMENTS ULTRA SHORT BOND FUND (Series ID: S000073785)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000230952 | Institutional Shares | CRHSX           |

### CATHOLIC RESPONSIBLE INVESTMENTS EQUITY INDEX FUND (Series ID: S000073786)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000230953 | Institutional Shares | CRQSX           |

### CATHOLIC RESPONSIBLE INVESTMENTS INTERNATIONAL EQUITY FUND (Series ID: S000073787)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000230954 | Institutional Shares | CRLSX           |
| C000230955 | Investor Shares      | CRLVX           |

### CATHOLIC RESPONSIBLE INVESTMENTS INTERNATIONAL SMALL-CAP FUND (Series ID: S000073788)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000230956 | Institutional Shares | CRNSX           |

### CATHOLIC RESPONSIBLE INVESTMENTS MAGNUS 45/55 FUND (Series ID: S000073789)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000230957 | Investor Shares      | CMNVX           |
| C000230958 | Institutional Shares | CMNSX           |

### CATHOLIC RESPONSIBLE INVESTMENTS MAGNUS 60/40 ALPHA PLUS FUND (Series ID: S000073790)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000230959 | Institutional Shares | CMPSX           |
| C000230960 | Investor Shares      | CMPVX           |

### CATHOLIC RESPONSIBLE INVESTMENTS MAGNUS 60/40 BETA PLUS FUND (Series ID: S000073791)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000230961 | Institutional Shares | CMMSX           |
| C000230962 | Investor Shares      | CMMVX           |

### CATHOLIC RESPONSIBLE INVESTMENTS MAGNUS 75/25 FUND (Series ID: S000073792)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000230963 | Institutional Shares | CMUSX           |
| C000230964 | Investor Shares      | CMUVX           |

### CATHOLIC RESPONSIBLE INVESTMENTS MULTI-STYLE US EQUITY FUND (Series ID: S000073793)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000230965 | Investor Shares      | CRTVX           |
| C000230966 | Institutional Shares | CRTSX           |

?xml version='1.0' encoding='ASCII'? Consolidated ssr-output-EDGAR XBRL File

**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 811-23718**

**Catholic Responsible Investments Funds**

(Exact name of registrant as specified in charter)

SEI Investments

One Freedom Valley Drive

Oaks, PA 19456

(Address of principal executive offices) (Zip code)

Michael Beattie

c/o SEI Investments

One Freedom Valley Drive

Oaks, PA 19456

(Name and address of agent for service)

**Registrant's telephone number, including area code: 1-866-348-6466**

**Date of fiscal year end: October 31, 2025**

**Date of reporting period: October 31, 2025**

**Item 1. Reports to Stockholders.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) A
 copy of the report transmitted to stockholders pursuant to Rule 30e-1 under the Investment Company Act of 1940, as amended (the "Act")
 (17 CFR § 270.30e-1), is attached hereto.

**# Catholic Responsible Investments Funds
![Image](i3df3b53a8605bb989d71f11d.jpg)

## Catholic Responsible Investments Ultra Short Bond Fund

#### Institutional Class Shares - CRHSX

## Annual Shareholder Report: October 31, 2025
This annual shareholder report contains important information about Institutional Class Shares of the Catholic Responsible Investments Ultra Short Bond Fund (the "Fund") for the period from November 1, 2024 to October 31, 2025. You can find additional information about the Fund at https://cbisonline.com/us/legal-financial/. You can also request this information by contacting us at 866-348-6466.

## What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| <u>Fund Name</u> | <u>Costs of a $10,000 investment</u> | <u>Costs paid as a percentage of a $10,000 investment</u> |
| Catholic Responsible Investments Ultra Short Bond Fund, Institutional Class Shares | $36 | 0.35% |

---

## How did the Fund perform in the last year?
The Fund seeks to provide current income consistent with the preservation of capital.

Under normal circumstances, the Fund invests at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in investment grade U.S. dollar-denominated debt instruments, including: (i) commercial paper and other corporate obligations; (ii) certificates of deposit, time deposits, bankers' acceptances, bank notes, and other obligations of U.S. savings and loan and thrift institutions, U.S. commercial banks (including foreign branches of such banks) and foreign banks that meet certain asset requirements; (iii) U.S. Treasury obligations and obligations issued or guaranteed as to principal and interest by agencies or instrumentalities of the U.S. Government; (iv) mortgage-backed securities; (v) asset-backed securities; (vi) fully-collateralized repurchase agreements involving any of the foregoing obligations; (vii) U.S. dollar-denominated instruments of foreign issuers; and (viii) floating rate securities. In addition, the Fund may enter into dollar roll transactions with selected banks and broker-dealers and invest in to-be-announced mortgage-backed securities, repurchase agreements, and in municipal securities.

CRI Ultra Short Bond Fund Review

Global markets delivered strong performance over the fiscal year, despite periods of heightened volatility. Market fluctuations were driven by shifts in monetary policy, evolving tariff expectations, and ongoing trade negotiations influenced by U.S. policy. Geopolitical tensions in the Middle East added further uncertainty to the economic landscape.

Yet, resilience remained a defining feature of global markets. Investor confidence held firm, supported by adaptive strategies and diversified growth across regions. Notably, the Federal Reserve began cutting interest rates in the third and fourth quarters, even as inflationary pressures persisted. This policy pivot underscored the balancing act between sustaining economic momentum and managing price stability.

The Fund performed well compared to cash and lagged intermediate and core-plus bond categories. The fall in front-end rates during the time-period positively impacted their capital value. Additionally, the Fund benefited from a combination of factors including income from spread products and lower spread volatility during the period.

## How did the Fund perform since inception?

## Total Return Based on $10,000 Investment
![Growth of 10K Chart](i979320cf7b983f8fcbf013b4.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | Catholic Responsible Investments Ultra Short Bond Fund, Institutional Class Shares | Bloomberg U.S. Aggregate Bond Index (USD) (TR)<sup>Footnote Reference\*</sup> | Bloomberg 1-3 Month US Treasury Bill Index (USD) (TR)<sup>Footnote Reference\*</sup> |
| Dec/21 | $10000 | $10000 | $10000 |
| Oct/22 | $10064 | $8379 | $10085 |
| Oct/23 | $10543 | $8409 | $10577 |
| Oct/24 | $11111 | $9296 | $11154 |
| Oct/25 | $11593 | $9869 | $11649 |

---

Since its inception on December 6, 2021. The line graph represents historical performance of a hypothetical investment of $10,000 in the Fund since inception. Returns shown are total returns, which assume the reinvestment of dividends and capital gains. The table and graph presented above do not reflect the deduction of taxes a shareholder would pay on Fund distributions or the redemption of Fund shares. Past performance is not indicative of future performance.Call 866-348-6466 or visit https://cbisonline.com/us/catholic-responsible-investing/performance/ for current month-end performance.

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Total Return (TR) - Reflects no deductions for fees, expenses or taxes. |

---

## Average Annual Total Returns as of October 31, 2025

---

| | | |
|:---|:---|:---|
| <u>Fund/Index Name</u> | <u>1 Year</u> | <u>Annualized Since Inception</u> |
| Catholic Responsible Investments Ultra Short Bond Fund, Institutional Class Shares | 4.34% | 3.85% |
| Bloomberg U.S. Aggregate Bond Index (USD) (TR)<sup>Footnote Reference\*</sup> | 6.16% | -0.34% |
| Bloomberg 1-3 Month US Treasury Bill Index (USD) (TR)<sup>Footnote Reference\*</sup> | 4.44% | 3.98% |

---

## Key Fund Statistics as of October 31, 2025

---

| | | | |
|:---|:---|:---|:---|
| <u>Total Net Assets</u> | <u>Number of Holdings</u> | <u>Total Advisory Fees Paid</u> | <u>Portfolio Turnover Rate</u> |
| $95349145 | 162 | $117041 | 96% |

---

## What did the Fund invest in?

### Asset Weightings<sup>Footnote Reference \*</sup>
![Holdings Chart](ic5a29816f1ad2559f814b672.jpg)

---

| | |
|:---|:---|
| Value | Value.1 |
| Mortgage-Backed Security | 0.0% |
| Commercial Paper | 1.0% |
| Corporate Obligations | 15.2% |
| U.S. Treasury Obligations | 26.9% |
| Repurchase Agreements | 27.0% |
| Asset-Backed Securities | 29.0% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Percentages are calculated based on total net assets. |

---

### Top Ten Holdings

---

| | | | |
|:---|:---|:---|:---|
| <u>Holding Name</u> | <u>Coupon Rate</u> | <u>Maturity Date</u> | <u>Percentage of Total Net Assets<sup>Footnote Reference(A)</sup></u> |
| U.S. Treasury Bills | 4.014% | 11/18/25 | 4.0% |
| U.S. Treasury Bills | 3.924% | 12/23/25 | 4.0% |
| U.S. Treasury Bills | 3.864% | 01/20/26 | 3.6% |
| U.S. Treasury Bills | 3.847% | 01/22/26 | 3.0% |
| U.S. Treasury Bills | 3.958% | 12/04/25 | 3.0% |
| U.S. Treasury Bills | 3.888% | 01/08/26 | 2.9% |
| U.S. Treasury Bills | 3.889% | 01/13/26 | 2.7% |
| U.S. Treasury Bills | 3.898% | 12/26/25 | 1.8% |
| U.S. Treasury Bills | 3.861% | 01/06/26 | 1.6% |
| GMF Floorplan Owner Revolving Trust Series, Ser 2025-1A, Cl A2, SOFR30A + 0.600% | 4.834% | 03/15/29 | 1.3% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(A)</sup> | &nbsp;&nbsp;Cash Equivalents and Repurchase Agreements are not shown in the top ten chart. |

---

## Material Fund Changes
There were no material changes during the reporting period.

## Changes in and Disagreements with Accountants
There were no changes in or disagreements with accountants during the reporting period.

## Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information, call or visit:

* 866-348-6466 

* https://cbisonline.com/us/legal-financial/ 

## Householding
Rule 30e-1 of the Investment Company Act of 1940 permits funds to transmit only one copy of a proxy statement, annual report or semi-annual report to shareholders (who need not be related) with the same residential, commercial or electronic address, provided that the shareholders have consented in writing and the reports are addressed either to each shareholder individually or to the shareholders as a group. This process is known as "householding" and is designed to reduce the duplicate copies of materials that shareholders receive and to lower printing and mailing costs for funds. Once implemented, if you would like to discontinue householding for your accounts, please call toll-free at 866-348-6466 to request individual copies of these documents. Once the Fund receives notice to stop householding, we will begin sending individual copies 30 days after receiving your request.

## Catholic Responsible Investments Funds

## Catholic Responsible Investments Ultra Short Bond Fund / Institutional Class Shares - CRHSX

## Annual Shareholder Report: October 31, 2025

## CRHSX-AR-2025
![Image](i3df3b53a8605bb989d71f11d.jpg)

# Catholic Responsible Investments Funds
![Image](i3df3b53a8605bb989d71f11d.jpg)

## Catholic Responsible Investments Short Duration Bond Fund

#### Institutional Class Shares - CRDSX

## Annual Shareholder Report: October 31, 2025
This annual shareholder report contains important information about Institutional Class Shares of the Catholic Responsible Investments Short Duration Bond Fund (the "Fund") for the period from November 1, 2024 to October 31, 2025. You can find additional information about the Fund at https://cbisonline.com/us/legal-financial/. You can also request this information by contacting us at 866-348-6466.

## What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| <u>Fund Name</u> | <u>Costs of a $10,000 investment</u> | <u>Costs paid as a percentage of a $10,000 investment</u> |
| Catholic Responsible Investments Short Duration Bond Fund, Institutional Class Shares | $36 | 0.35% |

---

## How did the Fund perform in the last year?
The Fund seeks maximum current income consistent with the preservation of capital.

Under normal circumstances, the Fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in fixed income securities and other debt instruments. For purposes of the Fund's 80% investment policy, fixed-income securities and debt instruments include U.S. dollar-denominated fixed income securities; U.S. Treasury securities; governmental agency debt; corporate debt securities; collateralized loan obligations; asset-backed securities; municipal bonds; residential and commercial mortgage-backed securities; floating rate notes and adjustable rate mortgages ("ARMs"). Depending on market conditions, the Fund may invest a substantial portion of its assets in mortgage-backed debt securities issued by the Government National Mortgage Association ("GNMA"), the Federal National Mortgage Association ("FNMA"), and the Federal Home Loan Mortgage Corporation ("FHLMC"). The Fund may also invest in other types of U.S. government securities, including collateralized mortgage obligations ("CMO") issued by U.S. government agencies or instrumentalities thereof, and may also invest in other mortgage-backed and asset-backed securities, as well as enter into repurchase agreements covering the securities described. The Fund's fixed income investments are primarily of investment grade (rated in one of the four highest rating categories by at least one rating agency). The Fund may invest up to 10% of its assets in debt securities that are rated below investment grade (commonly referred to as "high-yield" or "junk bonds"). In addition, the Fund's fixed income securities may include unrated securities, if deemed by the Sub-Adviser to be of comparable quality to allowable investment grade and non-investment grade securities.

CRI Short Duration Bond Fund Review

Global markets delivered strong performance over the fiscal year, despite periods of heightened volatility. Market fluctuations were driven by shifts in monetary policy, evolving tariff expectations, and ongoing trade negotiations influenced by U.S. policy. Geopolitical tensions in the Middle East added further uncertainty to the economic landscape.

Yet, resilience remained a defining feature of global markets. Investor confidence held firm, supported by adaptive strategies and diversified growth across regions. Notably, the Federal Reserve began cutting interest rates in the third and fourth quarters, even as inflationary pressures persisted. This policy pivot underscored the balancing act between sustaining economic momentum and managing price stability.

Short-duration bond funds have offered attractive returns while maintaining a lower risk profile and less sensitivity to interest rate changes compared to funds with longer durations. The CRI Short Duration Bond Fund has outperformed its benchmark, including higher yields relative to cash, receding inflation concerns leading to Federal Reserve interest rate cuts, and a steepening yield curve. Additionally, investor demand for safety and the advantages of active management also boosted returns.

## How did the Fund perform since inception?

## Total Return Based on $10,000 Investment
![Growth of 10K Chart](ifc6a147dc299574ee51f0692.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | Catholic Responsible Investments Short Duration Bond Fund, Institutional Class Shares | Bloomberg U.S. Aggregate Bond Index (USD) (TR)<sup>Footnote Reference\*</sup> | Bloomberg 1-3 Month US Treasury Bill Index (USD) (TR)<sup>Footnote Reference\*</sup> |
| Dec/21 | $10000 | $10000 | $10000 |
| Oct/22 | $9550 | $8379 | $10085 |
| Oct/23 | $9896 | $8409 | $10577 |
| Oct/24 | $10584 | $9296 | $11154 |
| Oct/25 | $11147 | $9869 | $11649 |

---

Since its inception on December 6, 2021. The line graph represents historical performance of a hypothetical investment of $10,000 in the Fund since inception. Returns shown are total returns, which assume the reinvestment of dividends and capital gains. The table and graph presented above do not reflect the deduction of taxes a shareholder would pay on Fund distributions or the redemption of Fund shares. Past performance is not indicative of future performance.Call 866-348-6466 or visit https://cbisonline.com/us/catholic-responsible-investing/performance/ for current month-end performance.

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Total Return (TR) - Reflects no deductions for fees, expenses or taxes. |

---

## Average Annual Total Returns as of October 31, 2025

---

| | | |
|:---|:---|:---|
| <u>Fund/Index Name</u> | <u>1 Year</u> | <u>Annualized Since Inception</u> |
| Catholic Responsible Investments Short Duration Bond Fund, Institutional Class Shares | 5.31% | 2.81% |
| Bloomberg U.S. Aggregate Bond Index (USD) (TR)<sup>Footnote Reference\*</sup> | 6.16% | -0.34% |
| Bloomberg 1-3 Month US Treasury Bill Index (USD) (TR)<sup>Footnote Reference\*</sup> | 4.44% | 3.98% |

---

## Key Fund Statistics as of October 31, 2025

---

| | | | |
|:---|:---|:---|:---|
| <u>Total Net Assets</u> | <u>Number of Holdings</u> | <u>Total Advisory Fees Paid</u> | <u>Portfolio Turnover Rate</u> |
| $547067385 | 460 | $1414973 | 50% |

---

## What did the Fund invest in?

### Asset Weightings<sup>Footnote Reference \*</sup>
![Holdings Chart](i3f058eb91db528bdae2e169a.jpg)

---

| | |
|:---|:---|
| Value | Value.1 |
| Futures Contracts | 0.0% |
| U.S. Government Agency Obligations | 0.2% |
| Short-Term Investment | 0.2% |
| Bank Loan Obligations | 0.3% |
| Repurchase Agreements | 0.7% |
| Sovereign Debt | 1.0% |
| Municipal Bonds | 4.1% |
| Mortgage-Backed Securities | 9.3% |
| Asset-Backed Securities | 18.8% |
| U.S. Treasury Obligations | 28.0% |
| Corporate Obligations | 37.3% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Percentages are calculated based on total net assets. |

---

### Top Ten Holdings

---

| | | | |
|:---|:---|:---|:---|
| <u>Holding Name</u> | <u>Coupon Rate</u> | <u>Maturity Date</u> | <u>Percentage of Total Net Assets<sup>Footnote Reference(A)</sup></u> |
| U.S. Treasury Notes | 3.125% | 08/31/27 | 5.2% |
| U.S. Treasury Notes | 1.875% | 06/30/26 | 4.0% |
| U.S. Treasury Notes | 3.625% | 08/15/28 | 3.2% |
| U.S. Treasury Notes | 3.875% | 07/15/28 | 2.7% |
| U.S. Treasury Notes | 4.250% | 01/15/28 | 2.6% |
| U.S. Treasury Notes | 1.250% | 06/30/28 | 2.2% |
| U.S. Treasury Notes | 4.625% | 04/30/29 | 2.1% |
| U.S. Treasury Notes | 0.625% | 12/31/27 | 1.6% |
| U.S. Treasury Notes | 3.375% | 09/15/28 | 1.6% |
| U.S. Treasury Notes | 1.875% | 07/31/26 | 1.3% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(A)</sup> | &nbsp;&nbsp;Repurchase Agreements and Short-Term Investments are not shown in the top ten chart. |

---

## Material Fund Changes
There were no material changes during the reporting period.

## Changes in and Disagreements with Accountants
There were no changes in or disagreements with accountants during the reporting period.

## Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information, call or visit:

* 866-348-6466 

* https://cbisonline.com/us/legal-financial/ 

## Householding
Rule 30e-1 of the Investment Company Act of 1940 permits funds to transmit only one copy of a proxy statement, annual report or semi-annual report to shareholders (who need not be related) with the same residential, commercial or electronic address, provided that the shareholders have consented in writing and the reports are addressed either to each shareholder individually or to the shareholders as a group. This process is known as "householding" and is designed to reduce the duplicate copies of materials that shareholders receive and to lower printing and mailing costs for funds. Once implemented, if you would like to discontinue householding for your accounts, please call toll-free at 866-348-6466 to request individual copies of these documents. Once the Fund receives notice to stop householding, we will begin sending individual copies 30 days after receiving your request.

## Catholic Responsible Investments Funds

## Catholic Responsible Investments Short Duration Bond Fund / Institutional Class Shares - CRDSX

## Annual Shareholder Report: October 31, 2025

## CRDSX-AR-2025
![Image](i3df3b53a8605bb989d71f11d.jpg)

# Catholic Responsible Investments Funds
![Image](i3df3b53a8605bb989d71f11d.jpg)

## Catholic Responsible Investments Bond Fund

#### Institutional Class Shares - CRBSX

## Annual Shareholder Report: October 31, 2025
This annual shareholder report contains important information about Institutional Class Shares of the Catholic Responsible Investments Bond Fund (the "Fund") for the period from November 1, 2024 to October 31, 2025. You can find additional information about the Fund at https://cbisonline.com/us/legal-financial/. You can also request this information by contacting us at 866-348-6466.

## What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| <u>Fund Name</u> | <u>Costs of a $10,000 investment</u> | <u>Costs paid as a percentage of a $10,000 investment</u> |
| Catholic Responsible Investments Bond Fund, Institutional Class Shares | $36 | 0.35% |

---

## How did the Fund perform in the last year?
The Fund seeks current income and long-term capital appreciation. Under normal circumstances, the Fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in fixed income securities and other debt instruments. The Fund's assets are allocated across different fixed-income market sectors and maturities. For purposes of the Fund's 80% investment policy, fixed-income securities and debt instruments include mortgage related securities, including mortgage-backed securities ("MBS") and adjustable rate mortgages ("ARMs"); U.S. and non-U.S. corporate debt securities; Yankee Bonds (dollar- denominated obligations issued in the U.S. by non-U.S. banks and corporations); fixed income securities issued or guaranteed by the U.S. government, non-U.S. governments, or by any U.S. government or non-U.S. government agency or instrumentality; municipal bonds; asset-backed securities; debt issuances of REITs; convertible bonds; preferred stock; covered bonds and bonds issued by U.S. colleges and universities; leveraged bank loans; commercial paper; floating rate notes and other securities included in the Index (defined below). The Fund may enter into repurchase agreements covering the foregoing securities. The Fund may invest up to 10% of its assets in debt securities that are rated below investment grade (commonly referred to as "high-yield" or "junk bonds"). The Fund's fixed income securities may include unrated securities, if deemed by the Sub-Advisers to be of comparable quality to allowable investment grade and noninvestment grade securities. Some of these investments in derivatives will cause the Fund to be, in part, indirectly exposed to companies that would otherwise be screened out by the Adviser's Catholic Responsible Investments screening criteria. Accordingly, the Fund limits such investments to situations where they (a) do not constitute, in the aggregate, more than 5% of the Fund's investments at any time, and (b) where the Adviser determines such investments are necessary to achieve the Fund's investment objective and when the Adviser believes there are no reasonable alternative investments that exist that are consistent with its Catholic Responsible Investing screening criteria.

CRI Bond Fund Review

Global markets delivered strong performance over the fiscal year, despite periods of heightened volatility. Market fluctuations were driven by shifts in monetary policy, evolving tariff expectations, and ongoing trade negotiations influenced by U.S. policy. Geopolitical tensions in the Middle East added further uncertainty to the economic landscape.

Yet, resilience remained a defining feature of global markets. Investor confidence held firm, supported by adaptive strategies and diversified growth across regions. Notably, the Federal Reserve began cutting interest rates in the third and fourth quarters, even as inflationary pressures persisted. This policy pivot underscored the balancing act between sustaining economic momentum and managing price stability.

Key contributions the Fund's performance over the last fiscal year were moderating inflation, interest rate cuts by the Federal Reserve, a steepening yield curve with short term rates falling over than long-term rates, which provided a favorable environment. A backdrop of slow but steady economic growth and investor confidence in continued monetary easing contributed to a positive environment for bond returns, particularly in corporate and other spread-sensitive sectors. However, potential impacts from the new administration's policies, such as changes to trade or fiscal policy, created some uncertainty.

## How did the Fund perform since inception?

## Total Return Based on $5,000,000 Investment
![Growth of 10K Chart](i06cc8ac871c1461ee84b1aae.jpg)

---

| | | |
|:---|:---|:---|
| | Catholic Responsible Investments Bond Fund, Institutional Class Shares | Bloomberg U.S. Aggregate Bond Index (USD) (TR)<sup>Footnote Reference\*</sup> |
| Dec/21 | $5000000 | $5000000 |
| Oct/22 | $4205361 | $4189699 |
| Oct/23 | $4229224 | $4204613 |
| Oct/24 | $4714078 | $4648043 |
| Oct/25 | $4992994 | $4934322 |

---

Since its inception on December 6, 2021. The line graph represents historical performance of a hypothetical investment of $5,000,000 in the Fund since inception. Returns shown are total returns, which assume the reinvestment of dividends and capital gains. The table and graph presented above do not reflect the deduction of taxes a shareholder would pay on Fund distributions or the redemption of Fund shares. Past performance is not indicative of future performance.Call 866-348-6466 or visit https://cbisonline.com/us/catholic-responsible-investing/performance/ for current month-end performance.

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Total Return (TR) - Reflects no deductions for fees, expenses or taxes. |

---

## Average Annual Total Returns as of October 31, 2025

---

| | | |
|:---|:---|:---|
| <u>Fund/Index Name</u> | <u>1 Year</u> | <u>Annualized Since Inception</u> |
| Catholic Responsible Investments Bond Fund, Institutional Class Shares | 5.92% | -0.04% |
| Bloomberg U.S. Aggregate Bond Index (USD) (TR)<sup>Footnote Reference\*</sup> | 6.16% | -0.34% |

---

## Key Fund Statistics as of October 31, 2025

---

| | | | |
|:---|:---|:---|:---|
| <u>Total Net Assets</u> | <u>Number of Holdings</u> | <u>Total Advisory Fees Paid</u> | <u>Portfolio Turnover Rate</u> |
| $2478976315 | 1367 | $7074372 | 81% |

---

## What did the Fund invest in?

### Asset Weightings<sup>Footnote Reference \*</sup>
![Holdings Chart](id3bf416e71910ab6d722ccc6.jpg)

---

| | |
|:---|:---|
| Value | Value.1 |
| U.S. Government Agency Obligation | 0.0% |
| Futures Contracts | 0.0% |
| Bank Loan Obligations | 0.1% |
| Short-Term Investment | 0.5% |
| Sovereign Debt | 1.3% |
| Municipal Bonds | 2.9% |
| Asset-Backed Securities | 9.1% |
| Mortgage-Backed Securities | 24.4% |
| Corporate Obligations | 27.5% |
| U.S. Treasury Obligations | 32.7% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Percentages are calculated based on total net assets. |

---

### Top Ten Holdings

---

| | | | |
|:---|:---|:---|:---|
| <u>Holding Name</u> | <u>Coupon Rate</u> | <u>Maturity Date</u> | <u>Percentage of Total Net Assets<sup>Footnote Reference(A)</sup></u> |
| U.S. Treasury Notes | 3.625% | 10/31/30 | 4.4% |
| U.S. Treasury Notes | 3.875% | 08/15/34 | 3.6% |
| U.S. Treasury Bonds | 4.750% | 05/15/55 | 2.2% |
| U.S. Treasury Notes | 3.875% | 07/15/28 | 1.7% |
| U.S. Treasury Notes | 4.250% | 08/15/35 | 1.7% |
| U.S. Treasury Notes, USBMMY3M + 0.159% | 4.011% | 07/31/27 | 1.2% |
| U.S. Treasury Notes | 4.375% | 01/31/32 | 0.9% |
| U.S. Treasury Bonds | 4.625% | 02/15/55 | 0.8% |
| U.S. Treasury Notes | 4.250% | 05/15/35 | 0.8% |
| U.S. Treasury Bonds | 4.625% | 05/15/44 | 0.8% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(A)</sup> | &nbsp;&nbsp;Short-Term Investments are not shown in the top ten chart. |

---

## Material Fund Changes
There were no material changes during the reporting period.

## Changes in and Disagreements with Accountants
There were no changes in or disagreements with accountants during the reporting period.

## Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information, call or visit:

* 866-348-6466 

* https://cbisonline.com/us/legal-financial/ 

## Householding
Rule 30e-1 of the Investment Company Act of 1940 permits funds to transmit only one copy of a proxy statement, annual report or semi-annual report to shareholders (who need not be related) with the same residential, commercial or electronic address, provided that the shareholders have consented in writing and the reports are addressed either to each shareholder individually or to the shareholders as a group. This process is known as "householding" and is designed to reduce the duplicate copies of materials that shareholders receive and to lower printing and mailing costs for funds. Once implemented, if you would like to discontinue householding for your accounts, please call toll-free at 866-348-6466 to request individual copies of these documents. Once the Fund receives notice to stop householding, we will begin sending individual copies 30 days after receiving your request.

## Catholic Responsible Investments Funds

## Catholic Responsible Investments Bond Fund / Institutional Class Shares - CRBSX

## Annual Shareholder Report: October 31, 2025

## CRBSX-AR-2025
![Image](i3df3b53a8605bb989d71f11d.jpg)

# Catholic Responsible Investments Funds
![Image](i3df3b53a8605bb989d71f11d.jpg)

## Catholic Responsible Investments Bond Fund

#### Investor Class Shares - CRBVX

## Annual Shareholder Report: October 31, 2025
This annual shareholder report contains important information about Investor Class Shares of the Catholic Responsible Investments Bond Fund (the "Fund") for the period from November 1, 2024 to October 31, 2025. You can find additional information about the Fund at https://cbisonline.com/us/legal-financial/. You can also request this information by contacting us at 866-348-6466.

## What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| <u>Fund Name</u> | <u>Costs of a $10,000 investment</u> | <u>Costs paid as a percentage of a $10,000 investment</u> |
| Catholic Responsible Investments Bond Fund, Investor Class Shares | $51 | 0.50% |

---

## How did the Fund perform in the last year?
The Fund seeks current income and long-term capital appreciation. Under normal circumstances, the Fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in fixed income securities and other debt instruments. The Fund's assets are allocated across different fixed-income market sectors and maturities. For purposes of the Fund's 80% investment policy, fixed-income securities and debt instruments include mortgage related securities, including mortgage-backed securities ("MBS") and adjustable rate mortgages ("ARMs"); U.S. and non-U.S. corporate debt securities; Yankee Bonds (dollar- denominated obligations issued in the U.S. by non-U.S. banks and corporations); fixed income securities issued or guaranteed by the U.S. government, non-U.S. governments, or by any U.S. government or non-U.S. government agency or instrumentality; municipal bonds; asset-backed securities; debt issuances of REITs; convertible bonds; preferred stock; covered bonds and bonds issued by U.S. colleges and universities; leveraged bank loans; commercial paper; floating rate notes and other securities included in the Index (defined below). The Fund may enter into repurchase agreements covering the foregoing securities. The Fund may invest up to 10% of its assets in debt securities that are rated below investment grade (commonly referred to as "high-yield" or "junk bonds"). The Fund's fixed income securities may include unrated securities, if deemed by the Sub-Advisers to be of comparable quality to allowable investment grade and noninvestment grade securities. Some of these investments in derivatives will cause the Fund to be, in part, indirectly exposed to companies that would otherwise be screened out by the Adviser's Catholic Responsible Investments screening criteria. Accordingly, the Fund limits such investments to situations where they (a) do not constitute, in the aggregate, more than 5% of the Fund's investments at any time, and (b) where the Adviser determines such investments are necessary to achieve the Fund's investment objective and when the Adviser believes there are no reasonable alternative investments that exist that are consistent with its Catholic Responsible Investing screening criteria.

CRI Bond Fund Review

Global markets delivered strong performance over the fiscal year, despite periods of heightened volatility. Market fluctuations were driven by shifts in monetary policy, evolving tariff expectations, and ongoing trade negotiations influenced by U.S. policy. Geopolitical tensions in the Middle East added further uncertainty to the economic landscape.

Yet, resilience remained a defining feature of global markets. Investor confidence held firm, supported by adaptive strategies and diversified growth across regions. Notably, the Federal Reserve began cutting interest rates in the third and fourth quarters, even as inflationary pressures persisted. This policy pivot underscored the balancing act between sustaining economic momentum and managing price stability.

Key contributions the Fund's performance over the last fiscal year were moderating inflation, interest rate cuts by the Federal Reserve, a steepening yield curve with short term rates falling over than long-term rates, which provided a favorable environment. A backdrop of slow but steady economic growth and investor confidence in continued monetary easing contributed to a positive environment for bond returns, particularly in corporate and other spread-sensitive sectors. However, potential impacts from the new administration's policies, such as changes to trade or fiscal policy, created some uncertainty.

## How did the Fund perform since inception?

## Total Return Based on $10,000 Investment
![Growth of 10K Chart](i6de2076e4495724e8fc19e15.jpg)

---

| | | |
|:---|:---|:---|
| | Catholic Responsible Investments Bond Fund, Investor Class Shares | Bloomberg U.S. Aggregate Bond Index (USD) (TR)<sup>Footnote Reference\*</sup> |
| Dec/21 | $10000 | $10000 |
| Oct/22 | $8399 | $8379 |
| Oct/23 | $8433 | $8409 |
| Oct/24 | $9386 | $9296 |
| Oct/25 | $9926 | $9869 |

---

Since its inception on December 6, 2021. The line graph represents historical performance of a hypothetical investment of $10,000 in the Fund since inception. Returns shown are total returns, which assume the reinvestment of dividends and capital gains. The table and graph presented above do not reflect the deduction of taxes a shareholder would pay on Fund distributions or the redemption of Fund shares. Past performance is not indicative of future performance.Call 866-348-6466 or visit https://cbisonline.com/us/catholic-responsible-investing/performance/ for current month-end performance.

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Total Return (TR) - Reflects no deductions for fees, expenses or taxes. |

---

## Average Annual Total Returns as of October 31, 2025

---

| | | |
|:---|:---|:---|
| <u>Fund/Index Name</u> | <u>1 Year</u> | <u>Annualized Since Inception</u> |
| Catholic Responsible Investments Bond Fund, Investor Class Shares | 5.76% | -0.19% |
| Bloomberg U.S. Aggregate Bond Index (USD) (TR)<sup>Footnote Reference\*</sup> | 6.16% | -0.34% |

---

## Key Fund Statistics as of October 31, 2025

---

| | | | |
|:---|:---|:---|:---|
| <u>Total Net Assets</u> | <u>Number of Holdings</u> | <u>Total Advisory Fees Paid</u> | <u>Portfolio Turnover Rate</u> |
| $2478976315 | 1367 | $7074372 | 81% |

---

## What did the Fund invest in?

### Asset Weightings<sup>Footnote Reference \*</sup>
![Holdings Chart](id3bf416e71910ab6d722ccc6.jpg)

---

| | |
|:---|:---|
| Value | Value.1 |
| U.S. Government Agency Obligation | 0.0% |
| Futures Contracts | 0.0% |
| Bank Loan Obligations | 0.1% |
| Short-Term Investment | 0.5% |
| Sovereign Debt | 1.3% |
| Municipal Bonds | 2.9% |
| Asset-Backed Securities | 9.1% |
| Mortgage-Backed Securities | 24.4% |
| Corporate Obligations | 27.5% |
| U.S. Treasury Obligations | 32.7% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Percentages are calculated based on total net assets. |

---

### Top Ten Holdings

---

| | | | |
|:---|:---|:---|:---|
| <u>Holding Name</u> | <u>Coupon Rate</u> | <u>Maturity Date</u> | <u>Percentage of Total Net Assets<sup>Footnote Reference(A)</sup></u> |
| U.S. Treasury Notes | 3.625% | 10/31/30 | 4.4% |
| U.S. Treasury Notes | 3.875% | 08/15/34 | 3.6% |
| U.S. Treasury Bonds | 4.750% | 05/15/55 | 2.2% |
| U.S. Treasury Notes | 3.875% | 07/15/28 | 1.7% |
| U.S. Treasury Notes | 4.250% | 08/15/35 | 1.7% |
| U.S. Treasury Notes, USBMMY3M + 0.159% | 4.011% | 07/31/27 | 1.2% |
| U.S. Treasury Notes | 4.375% | 01/31/32 | 0.9% |
| U.S. Treasury Bonds | 4.625% | 02/15/55 | 0.8% |
| U.S. Treasury Notes | 4.250% | 05/15/35 | 0.8% |
| U.S. Treasury Bonds | 4.625% | 05/15/44 | 0.8% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(A)</sup> | &nbsp;&nbsp;Short-Term Investments are not shown in the top ten chart. |

---

## Material Fund Changes
There were no material changes during the reporting period.

## Changes in and Disagreements with Accountants
There were no changes in or disagreements with accountants during the reporting period.

## Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information, call or visit:

* 866-348-6466 

* https://cbisonline.com/us/legal-financial/ 

## Householding
Rule 30e-1 of the Investment Company Act of 1940 permits funds to transmit only one copy of a proxy statement, annual report or semi-annual report to shareholders (who need not be related) with the same residential, commercial or electronic address, provided that the shareholders have consented in writing and the reports are addressed either to each shareholder individually or to the shareholders as a group. This process is known as "householding" and is designed to reduce the duplicate copies of materials that shareholders receive and to lower printing and mailing costs for funds. Once implemented, if you would like to discontinue householding for your accounts, please call toll-free at 866-348-6466 to request individual copies of these documents. Once the Fund receives notice to stop householding, we will begin sending individual copies 30 days after receiving your request.

## Catholic Responsible Investments Funds

## Catholic Responsible Investments Bond Fund / Investor Class Shares - CRBVX

## Annual Shareholder Report: October 31, 2025

## CRBVX-AR-2025
![Image](i3df3b53a8605bb989d71f11d.jpg)

# Catholic Responsible Investments Funds
![Image](i3df3b53a8605bb989d71f11d.jpg)

## Catholic Responsible Investments Opportunistic Bond Fund

#### Institutional Class Shares - CROSX

## Annual Shareholder Report: October 31, 2025
This annual shareholder report contains important information about Institutional Class Shares of the Catholic Responsible Investments Opportunistic Bond Fund (the "Fund") for the period from November 1, 2024 to October 31, 2025. You can find additional information about the Fund at https://cbisonline.com/us/legal-financial/. You can also request this information by contacting us at 866-348-6466.

## What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| <u>Fund Name</u> | <u>Costs of a $10,000 investment</u> | <u>Costs paid as a percentage of a $10,000 investment</u> |
| Catholic Responsible Investments Opportunistic Bond Fund, Institutional Class Shares | $42 | 0.41% |

---

## How did the Fund perform in the last year?
The Fund seeks current income and to provide relatively low correlation to equity assets.

Under normal circumstances, the Fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in fixed income securities and other debt instruments. For purposes of the Fund's 80% investment policy, fixed-income securities and debt instruments include mortgage related securities, including mortgage-backed securities and adjustable rate mortgages ("ARMs"); U.S. and non-U.S. corporate debt securities; Yankee Bonds; fixed income securities issued or guaranteed by the U.S. government, non-U.S. governments, or by any U.S. government or non-U.S. government agency or instrumentality; municipal bonds; asset-backed securities and floating rate notes. The Fund may enter into repurchase agreements covering the foregoing securities. The Fund may invest up to 20% of its assets in debt securities that are rated below investment grade (commonly referred to as "high-yield" or "junk bonds"). The Fund's fixed income securities may include unrated securities, if deemed by the Sub-Advisers to be of comparable quality to allowable investment grade and non-investment grade securities. The Fund may invest in futures, primarily U.S. Treasury futures. The Fund may buy or sell U.S. Treasury futures to manage the Fund's portfolio duration, yield curve positioning, or trade execution on a more cost-effective basis than by use of physical securities alone. The Fund may use credit default swaps on a single issuer (CDS) or a credit default swap index (CDX) to hedge credit risk. Some of these investments will cause the Fund to be, in part, indirectly exposed to companies that would otherwise be screened out by the Adviser's Catholic Responsible Investments screening criteria. Accordingly, the Fund limits such investments to situations where they (a) do not constitute, in the aggregate, more than 5% of the Fund's investments at any time, and (b) where the Adviser determines such investments are necessary to achieve the Fund's investment objective and when the Adviser believes there are no reasonable alternative investments that exist that are consistent with its Catholic Responsible Investing screening criteria.

CRI Opportunistic Bond Fund Review

Global markets delivered strong performance over the fiscal year, despite periods of heightened volatility. Market fluctuations were driven by shifts in monetary policy, evolving tariff expectations, and ongoing trade negotiations influenced by U.S. policy. Geopolitical tensions in the Middle East added further uncertainty to the economic landscape.

Yet, resilience remained a defining feature of global markets. Investor confidence held firm, supported by adaptive strategies and diversified growth across regions. Notably, the Federal Reserve began cutting interest rates in the third and fourth quarters, even as inflationary pressures persisted. This policy pivot underscored the balancing act between sustaining economic momentum and managing price stability.

The Fund's fiscal year performance was ahead of expectations throughout the fiscal year. Contributions to performance are based on the combination of fixed income sectors yielding a more broad fixed income exposure profile, which offers an enhanced return potential over core bond funds.

## How did the Fund perform since inception?

## Total Return Based on $5,000,000 Investment
![Growth of 10K Chart](i5a03aa64967ebf5342ba60ff.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | Catholic Responsible Investments Opportunistic Bond Fund, Institutional Class Shares | Bloomberg U.S. Aggregate Bond Index (USD) (TR)<sup>Footnote Reference\*</sup> | Bloomberg 1-5 Year U.S. Government/Credit Index (USD) |
| Dec/21 | $5000000 | $5000000 | $5000000 |
| Oct/22 | $4614458 | $4189699 | $4653370 |
| Oct/23 | $4750210 | $4204613 | $4788438 |
| Oct/24 | $5197803 | $4648043 | $5119901 |
| Oct/25 | $5496460 | $4934322 | $5407220 |

---

Since its inception on December 6, 2021. The line graph represents historical performance of a hypothetical investment of $5,000,000 in the Fund since inception. Returns shown are total returns, which assume the reinvestment of dividends and capital gains. The table and graph presented above do not reflect the deduction of taxes a shareholder would pay on Fund distributions or the redemption of Fund shares. Past performance is not indicative of future performance.Call 866-348-6466 or visit https://cbisonline.com/us/catholic-responsible-investing/performance/ for current month-end performance.

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Total Return (TR) - Reflects no deductions for fees, expenses or taxes. |

---

## Average Annual Total Returns as of October 31, 2025

---

| | | |
|:---|:---|:---|
| <u>Fund/Index Name</u> | <u>1 Year</u> | <u>Annualized Since Inception</u> |
| Catholic Responsible Investments Opportunistic Bond Fund, Institutional Class Shares | 5.75% | 2.45% |
| Bloomberg U.S. Aggregate Bond Index (USD) (TR)<sup>Footnote Reference\*</sup> | 6.16% | -0.34% |
| Bloomberg 1-5 Year U.S. Government/Credit Index (USD) | 5.61% | 2.02% |

---

## Key Fund Statistics as of October 31, 2025

---

| | | | |
|:---|:---|:---|:---|
| <u>Total Net Assets</u> | <u>Number of Holdings</u> | <u>Total Advisory Fees Paid</u> | <u>Portfolio Turnover Rate</u> |
| $731174817 | 349 | $2375922 | 160% |

---

## What did the Fund invest in?

### Asset Weightings<sup>Footnote Reference \*</sup>
![Holdings Chart](i8f9207b2c7e0a290ff8d8479.jpg)

---

| | |
|:---|:---|
| Value | Value.1 |
| Futures Contracts | 0.0% |
| U.S. Government Agency Obligation | 0.0% |
| Bank Loan Obligations | 0.4% |
| Short-Term Investment | 0.5% |
| Sovereign Debt | 1.6% |
| Municipal Bonds | 1.9% |
| Asset-Backed Securities | 18.9% |
| Mortgage-Backed Securities | 19.2% |
| Corporate Obligations | 23.3% |
| U.S. Treasury Obligations | 33.1% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Percentages are calculated based on total net assets. |

---

### Top Ten Holdings

---

| | | | |
|:---|:---|:---|:---|
| <u>Holding Name</u> | <u>Coupon Rate</u> | <u>Maturity Date</u> | <u>Percentage of Total Net Assets<sup>Footnote Reference(A)</sup></u> |
| U.S. Treasury Notes | 0.625% | 08/15/30 | 6.6% |
| U.S. Treasury Notes | 3.625% | 10/31/30 | 5.6% |
| U.S. Treasury Notes, USBMMY3M + 0.205% | 4.057% | 10/31/26 | 4.5% |
| U.S. Treasury Notes, USBMMY3M + 0.159% | 4.011% | 07/31/27 | 3.9% |
| U.S. Treasury Notes, USBMMY3M + 0.160% | 4.012% | 04/30/27 | 3.7% |
| U.S. Treasury Notes | 3.875% | 08/15/34 | 2.3% |
| U.S. Treasury Notes | 4.000% | 02/28/30 | 2.1% |
| U.S. Treasury Notes | 4.250% | 08/15/35 | 1.7% |
| U.S. Treasury Notes | 3.875% | 06/30/30 | 1.5% |
| GNMA | 6.000% | 07/20/54 | 1.1% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(A)</sup> | &nbsp;&nbsp;Short-Term Investments are not shown in the top ten chart. |

---

## Material Fund Changes
There were no material changes during the reporting period.

## Changes in and Disagreements with Accountants
There were no changes in or disagreements with accountants during the reporting period.

## Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information, call or visit:

* 866-348-6466 

* https://cbisonline.com/us/legal-financial/ 

## Householding
Rule 30e-1 of the Investment Company Act of 1940 permits funds to transmit only one copy of a proxy statement, annual report or semi-annual report to shareholders (who need not be related) with the same residential, commercial or electronic address, provided that the shareholders have consented in writing and the reports are addressed either to each shareholder individually or to the shareholders as a group. This process is known as "householding" and is designed to reduce the duplicate copies of materials that shareholders receive and to lower printing and mailing costs for funds. Once implemented, if you would like to discontinue householding for your accounts, please call toll-free at 866-348-6466 to request individual copies of these documents. Once the Fund receives notice to stop householding, we will begin sending individual copies 30 days after receiving your request.

## Catholic Responsible Investments Funds

## Catholic Responsible Investments Opportunistic Bond Fund / Institutional Class Shares - CROSX

## Annual Shareholder Report: October 31, 2025

## CROSX-AR-2025
![Image](i3df3b53a8605bb989d71f11d.jpg)

# Catholic Responsible Investments Funds
![Image](i3df3b53a8605bb989d71f11d.jpg)

## Catholic Responsible Investments Opportunistic Bond Fund

#### Investor Class Shares - CROVX

## Annual Shareholder Report: October 31, 2025
This annual shareholder report contains important information about Investor Class Shares of the Catholic Responsible Investments Opportunistic Bond Fund (the "Fund") for the period from November 1, 2024 to October 31, 2025. You can find additional information about the Fund at https://cbisonline.com/us/legal-financial/. You can also request this information by contacting us at 866-348-6466.

## What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| <u>Fund Name</u> | <u>Costs of a $10,000 investment</u> | <u>Costs paid as a percentage of a $10,000 investment</u> |
| Catholic Responsible Investments Opportunistic Bond Fund, Investor Class Shares | $58 | 0.56% |

---

## How did the Fund perform in the last year?
The Fund seeks current income and to provide relatively low correlation to equity assets.

Under normal circumstances, the Fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in fixed income securities and other debt instruments. For purposes of the Fund's 80% investment policy, fixed-income securities and debt instruments include mortgage related securities, including mortgage-backed securities and adjustable rate mortgages ("ARMs"); U.S. and non-U.S. corporate debt securities; Yankee Bonds; fixed income securities issued or guaranteed by the U.S. government, non-U.S. governments, or by any U.S. government or non-U.S. government agency or instrumentality; municipal bonds; asset-backed securities and floating rate notes. The Fund may enter into repurchase agreements covering the foregoing securities. The Fund may invest up to 20% of its assets in debt securities that are rated below investment grade (commonly referred to as "high-yield" or "junk bonds"). The Fund's fixed income securities may include unrated securities, if deemed by the Sub-Advisers to be of comparable quality to allowable investment grade and non-investment grade securities. The Fund may invest in futures, primarily U.S. Treasury futures. The Fund may buy or sell U.S. Treasury futures to manage the Fund's portfolio duration, yield curve positioning, or trade execution on a more cost-effective basis than by use of physical securities alone. The Fund may use credit default swaps on a single issuer (CDS) or a credit default swap index (CDX) to hedge credit risk. Some of these investments will cause the Fund to be, in part, indirectly exposed to companies that would otherwise be screened out by the Adviser's Catholic Responsible Investments screening criteria. Accordingly, the Fund limits such investments to situations where they (a) do not constitute, in the aggregate, more than 5% of the Fund's investments at any time, and (b) where the Adviser determines such investments are necessary to achieve the Fund's investment objective and when the Adviser believes there are no reasonable alternative investments that exist that are consistent with its Catholic Responsible Investing screening criteria.

CRI Opportunistic Bond Fund Review

Global markets delivered strong performance over the fiscal year, despite periods of heightened volatility. Market fluctuations were driven by shifts in monetary policy, evolving tariff expectations, and ongoing trade negotiations influenced by U.S. policy. Geopolitical tensions in the Middle East added further uncertainty to the economic landscape.

Yet, resilience remained a defining feature of global markets. Investor confidence held firm, supported by adaptive strategies and diversified growth across regions. Notably, the Federal Reserve began cutting interest rates in the third and fourth quarters, even as inflationary pressures persisted. This policy pivot underscored the balancing act between sustaining economic momentum and managing price stability.

The Fund's fiscal year performance was ahead of expectations throughout the fiscal year. Contributions to performance are based on the combination of fixed income sectors yielding a more broad fixed income exposure profile, which offers an enhanced return potential over core bond funds.

## How did the Fund perform since inception?

## Total Return Based on $10,000 Investment
![Growth of 10K Chart](i53a3c578597d341939294bdc.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | Catholic Responsible Investments Opportunistic Bond Fund, Investor Class Shares | Bloomberg U.S. Aggregate Bond Index (USD) (TR)<sup>Footnote Reference\*</sup> | Bloomberg 1-5 Year U.S. Government/Credit Index (USD) |
| Dec/21 | $10000 | $10000 | $10000 |
| Oct/22 | $9216 | $8379 | $9307 |
| Oct/23 | $9475 | $8409 | $9577 |
| Oct/24 | $10352 | $9296 | $10240 |
| Oct/25 | $10930 | $9869 | $10814 |

---

Since its inception on December 6, 2021. The line graph represents historical performance of a hypothetical investment of $10,000 in the Fund since inception. Returns shown are total returns, which assume the reinvestment of dividends and capital gains. The table and graph presented above do not reflect the deduction of taxes a shareholder would pay on Fund distributions or the redemption of Fund shares. Past performance is not indicative of future performance.Call 866-348-6466 or visit https://cbisonline.com/us/catholic-responsible-investing/performance/ for current month-end performance.

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Total Return (TR) - Reflects no deductions for fees, expenses or taxes. |

---

## Average Annual Total Returns as of October 31, 2025

---

| | | |
|:---|:---|:---|
| <u>Fund/Index Name</u> | <u>1 Year</u> | <u>Annualized Since Inception</u> |
| Catholic Responsible Investments Opportunistic Bond Fund, Investor Class Shares | 5.58% | 2.30% |
| Bloomberg U.S. Aggregate Bond Index (USD) (TR)<sup>Footnote Reference\*</sup> | 6.16% | -0.34% |
| Bloomberg 1-5 Year U.S. Government/Credit Index (USD) | 5.61% | 2.02% |

---

## Key Fund Statistics as of October 31, 2025

---

| | | | |
|:---|:---|:---|:---|
| <u>Total Net Assets</u> | <u>Number of Holdings</u> | <u>Total Advisory Fees Paid</u> | <u>Portfolio Turnover Rate</u> |
| $731174817 | 349 | $2375922 | 160% |

---

## What did the Fund invest in?

### Asset Weightings<sup>Footnote Reference \*</sup>
![Holdings Chart](i8f9207b2c7e0a290ff8d8479.jpg)

---

| | |
|:---|:---|
| Value | Value.1 |
| Futures Contracts | 0.0% |
| U.S. Government Agency Obligation | 0.0% |
| Bank Loan Obligations | 0.4% |
| Short-Term Investment | 0.5% |
| Sovereign Debt | 1.6% |
| Municipal Bonds | 1.9% |
| Asset-Backed Securities | 18.9% |
| Mortgage-Backed Securities | 19.2% |
| Corporate Obligations | 23.3% |
| U.S. Treasury Obligations | 33.1% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Percentages are calculated based on total net assets. |

---

### Top Ten Holdings

---

| | | | |
|:---|:---|:---|:---|
| <u>Holding Name</u> | <u>Coupon Rate</u> | <u>Maturity Date</u> | <u>Percentage of Total Net Assets<sup>Footnote Reference(A)</sup></u> |
| U.S. Treasury Notes | 0.625% | 08/15/30 | 6.6% |
| U.S. Treasury Notes | 3.625% | 10/31/30 | 5.6% |
| U.S. Treasury Notes, USBMMY3M + 0.205% | 4.057% | 10/31/26 | 4.5% |
| U.S. Treasury Notes, USBMMY3M + 0.159% | 4.011% | 07/31/27 | 3.9% |
| U.S. Treasury Notes, USBMMY3M + 0.160% | 4.012% | 04/30/27 | 3.7% |
| U.S. Treasury Notes | 3.875% | 08/15/34 | 2.3% |
| U.S. Treasury Notes | 4.000% | 02/28/30 | 2.1% |
| U.S. Treasury Notes | 4.250% | 08/15/35 | 1.7% |
| U.S. Treasury Notes | 3.875% | 06/30/30 | 1.5% |
| GNMA | 6.000% | 07/20/54 | 1.1% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(A)</sup> | &nbsp;&nbsp;Short-Term Investments are not shown in the top ten chart. |

---

## Material Fund Changes
There were no material changes during the reporting period.

## Changes in and Disagreements with Accountants
There were no changes in or disagreements with accountants during the reporting period.

## Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information, call or visit:

* 866-348-6466 

* https://cbisonline.com/us/legal-financial/ 

## Householding
Rule 30e-1 of the Investment Company Act of 1940 permits funds to transmit only one copy of a proxy statement, annual report or semi-annual report to shareholders (who need not be related) with the same residential, commercial or electronic address, provided that the shareholders have consented in writing and the reports are addressed either to each shareholder individually or to the shareholders as a group. This process is known as "householding" and is designed to reduce the duplicate copies of materials that shareholders receive and to lower printing and mailing costs for funds. Once implemented, if you would like to discontinue householding for your accounts, please call toll-free at 866-348-6466 to request individual copies of these documents. Once the Fund receives notice to stop householding, we will begin sending individual copies 30 days after receiving your request.

## Catholic Responsible Investments Funds

## Catholic Responsible Investments Opportunistic Bond Fund / Investor Class Shares - CROVX

## Annual Shareholder Report: October 31, 2025

## CROVX-AR-2025
![Image](i3df3b53a8605bb989d71f11d.jpg)

# Catholic Responsible Investments Funds
![Image](i3df3b53a8605bb989d71f11d.jpg)

## Catholic Responsible Investments Equity Index Fund

#### Institutional Class Shares - CRQSX

## Annual Shareholder Report: October 31, 2025
This annual shareholder report contains important information about Institutional Class Shares of the Catholic Responsible Investments Equity Index Fund (the "Fund") for the period from November 1, 2024 to October 31, 2025. You can find additional information about the Fund at https://cbisonline.com/us/legal-financial/. You can also request this information by contacting us at 866-348-6466.

## What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| <u>Fund Name</u> | <u>Costs of a $10,000 investment</u> | <u>Costs paid as a percentage of a $10,000 investment</u> |
| Catholic Responsible Investments Equity Index Fund, Institutional Class Shares | $10 | 0.09% |

---

## How did the Fund perform in the last year?
The Fund seeks to replicate as closely as possible, before expenses, the performance of the S&P 500<sup>®</sup> Index.

The Fund uses a passive optimization process managed by Rhumbline Advisers, the Fund's Sub-Adviser ("Sub-Adviser"), which is designed to track the performance of the S&P 500<sup>®</sup> Index (the "Index"). The Fund is not managed according to traditional methods of "active" investment management, which involve the buying and selling of securities based upon economic, financial and market analysis and investment judgment. Instead, the Fund, using an "indexing" investment approach, attempts to replicate, before expenses, the performance of the Index. The Index is a well-known stock market index that includes common stocks of approximately 500 companies from all major industries representing a significant portion of the market value of all common stocks publicly traded in the United States, most of which are listed on the New York Stock Exchange. Under normal circumstances, the Fund intends to invest at least 95% of its net assets, plus any borrowings for investment purposes, in securities listed in the Index.

CRI Equity Index Fund Review

Global markets delivered strong performance over the fiscal year, despite periods of heightened volatility. Market fluctuations were driven by shifts in monetary policy, evolving tariff expectations, and ongoing trade negotiations influenced by U.S. policy. Geopolitical tensions in the Middle East added further uncertainty to the economic landscape.

Yet, resilience remained a defining feature of global markets. Investor confidence held firm, supported by adaptive strategies and diversified growth across regions. Notably, the Federal Reserve began cutting interest rates in the third and fourth quarters, even as inflationary pressures persisted. This policy pivot underscored the balancing act between sustaining economic momentum and managing price stability.

The Fund's strong fiscal year performance has been driven by the stock market, which has continued to climb throughout 2025, reaching new record highs despite some calls for potential market correction. Technology stocks, in particular the Magnificent 7, performed strongly during this period as well as strong corporate earnings.

## How did the Fund perform since inception?

## Total Return Based on $3,000,000 Investment
![Growth of 10K Chart](i591125eb5c173ebb389da7ce.jpg)

---

| | | |
|:---|:---|:---|
| | Catholic Responsible Investments Equity Index Fund, Institutional Class Shares | S&P 500 Index (USD) (TR)<sup>Footnote Reference\*</sup> |
| Dec/21 | $3000000 | $3000000 |
| Oct/22 | $2550193 | $2595030 |
| Oct/23 | $2816100 | $2858239 |
| Oct/24 | $3870882 | $3944858 |
| Oct/25 | $4706613 | $4791127 |

---

Since its inception on December 6, 2021. The line graph represents historical performance of a hypothetical investment of $3,000,000 in the Fund since inception. Returns shown are total returns, which assume the reinvestment of dividends and capital gains. The table and graph presented above do not reflect the deduction of taxes a shareholder would pay on Fund distributions or the redemption of Fund shares. Past performance is not indicative of future performance.Call 866-348-6466 or visit https://cbisonline.com/us/catholic-responsible-investing/performance/ for current month-end performance.

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Total Return (TR) - Reflects no deductions for fees, expenses or taxes. |

---

## Average Annual Total Returns as of October 31, 2025

---

| | | |
|:---|:---|:---|
| <u>Fund/Index Name</u> | <u>1 Year</u> | <u>Annualized Since Inception</u> |
| Catholic Responsible Investments Equity Index Fund, Institutional Class Shares | 21.59% | 12.20% |
| S&P 500 Index (USD) (TR)<sup>Footnote Reference\*</sup> | 21.45% | 12.71% |

---

## Key Fund Statistics as of October 31, 2025

---

| | | | |
|:---|:---|:---|:---|
| <u>Total Net Assets</u> | <u>Number of Holdings</u> | <u>Total Advisory Fees Paid</u> | <u>Portfolio Turnover Rate</u> |
| $4600897729 | 434 | $1821036 | 26% |

---

## What did the Fund invest in?

### Sector Weightings<sup>Footnote Reference \*</sup>
![Holdings Chart](i7bac8c1df42dc8bf7c177dcf.jpg)

---

| | |
|:---|:---|
| Value | Value.1 |
| Rights | 0.0% |
| Futures Contracts | 0.0% |
| Short-Term Investment | 0.0% |
| Materials | 1.8% |
| Real Estate | 2.3% |
| Utilities | 2.5% |
| Energy | 2.9% |
| Consumer Staples | 5.3% |
| Health Care | 6.6% |
| Industrials | 7.8% |
| Consumer Discretionary | 10.5% |
| Communication Services | 10.6% |
| Financials | 12.8% |
| Information Technology | 36.6% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Percentages are calculated based on total net assets. |

---

### Top Ten Holdings

---

| | |
|:---|:---|
| <u>Holding Name</u> | <u>Percentage of Total Net Assets<sup>Footnote Reference(A)</sup></u> |
| NVIDIA | 8.5% |
| Apple | 7.0% |
| Microsoft | 6.7% |
| Amazon.com | 4.1% |
| Broadcom | 3.0% |
| Alphabet, Cl A | 2.9% |
| Meta Platforms, Cl A | 2.4% |
| Alphabet, Cl C | 2.3% |
| Tesla | 2.2% |
| Berkshire Hathaway, Cl B | 1.6% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(A)</sup> | &nbsp;&nbsp;Short-Term Investments are not shown in the top ten chart. |

---

## Material Fund Changes
There were no material changes during the reporting period.

## Changes in and Disagreements with Accountants
There were no changes in or disagreements with accountants during the reporting period.

## Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information, call or visit:

* 866-348-6466 

* https://cbisonline.com/us/legal-financial/ 

## Householding
Rule 30e-1 of the Investment Company Act of 1940 permits funds to transmit only one copy of a proxy statement, annual report or semi-annual report to shareholders (who need not be related) with the same residential, commercial or electronic address, provided that the shareholders have consented in writing and the reports are addressed either to each shareholder individually or to the shareholders as a group. This process is known as "householding" and is designed to reduce the duplicate copies of materials that shareholders receive and to lower printing and mailing costs for funds. Once implemented, if you would like to discontinue householding for your accounts, please call toll-free at 866-348-6466 to request individual copies of these documents. Once the Fund receives notice to stop householding, we will begin sending individual copies 30 days after receiving your request.

## Catholic Responsible Investments Funds

## Catholic Responsible Investments Equity Index Fund / Institutional Class Shares - CRQSX

## Annual Shareholder Report: October 31, 2025

## CRQSX-AR-2025
![Image](i3df3b53a8605bb989d71f11d.jpg)

# Catholic Responsible Investments Funds
![Image](i3df3b53a8605bb989d71f11d.jpg)

## Catholic Responsible Investments Small-Cap Fund

#### Institutional Class Shares - CRSSX

## Annual Shareholder Report: October 31, 2025
This annual shareholder report contains important information about Institutional Class Shares of the Catholic Responsible Investments Small-Cap Fund (the "Fund") for the period from November 1, 2024 to October 31, 2025. You can find additional information about the Fund at https://cbisonline.com/us/legal-financial/. You can also request this information by contacting us at 866-348-6466.

## What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| <u>Fund Name</u> | <u>Costs of a $10,000 investment</u> | <u>Costs paid as a percentage of a $10,000 investment</u> |
| Catholic Responsible Investments Small-Cap Fund, Institutional Class Shares | $29 | 0.28% |

---

## How did the Fund perform in the last year?
The Fund seeks to replicate the performance of the S&P SmallCap 600<sup>®</sup> Index, an index representing small capitalization companies.

The Fund uses a passive optimization process managed by Rhumbline Advisers, the Fund's Sub-Adviser ("Sub-Adviser"), which is designed to track the performance of the S&P SMallCap 600<sup>®</sup> Index (the "Index"). The Fund is not managed according to traditional methods of "active" investment management, which involve the buying and selling of securities based upon economic, financial and market analysis and investment judgment. Instead, the Fund, using an "indexing" investment approach, attempts to replicate, before expenses, the performance of the Index. The Index is a well-known stock market index that measures the performance of small-capitalization companies in the United States. Under normal circumstances, the Fund intends to invest at least 95% of its net assets, plus any borrowings for investment purposes, in securities listed in the Index.

CRI Small-Cap Fund Review

Global markets delivered strong performance over the fiscal year, despite periods of heightened volatility. Market fluctuations were driven by shifts in monetary policy, evolving tariff expectations, and ongoing trade negotiations influenced by U.S. policy. Geopolitical tensions in the Middle East added further uncertainty to the economic landscape.

Yet, resilience remained a defining feature of global markets. Investor confidence held firm, supported by adaptive strategies and diversified growth across regions. Notably, the Federal Reserve began cutting interest rates in the third and fourth quarters, even as inflationary pressures persisted. This policy pivot underscored the balancing act between sustaining economic momentum and managing price stability.

The Fund's fiscal year performance was in line with the benchmark. Factors contributing to the fiscal year performance of small-cap stocks include easing monetary policy from the Federal Reserve, AI-driven productivity gains, favorable valuations relative to large caps, a rebound in corporate earnings, and an increase in mergers and acquisitions activity.

## How did the Fund perform since inception?

## Total Return Based on $3,000,000 Investment
![Growth of 10K Chart](i9afc0a00775e761c3e562113.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | Catholic Responsible Investments Small-Cap Fund, Institutional Class Shares | Russell 3000 Index (USD) (TR)<sup>Footnote Reference\*</sup> | S&P SmallCap 600 Index (USD) |
| Dec/21 | $3000000 | $3000000 | $3000000 |
| Oct/22 | $2703219 | $2566923 | $2709782 |
| Oct/23 | $2482953 | $2782035 | $2502363 |
| Oct/24 | $3215200 | $3835180 | $3253033 |
| Oct/25 | $3390546 | $4633378 | $3432355 |

---

Since its inception on December 6, 2021. The line graph represents historical performance of a hypothetical investment of $3,000,000 in the Fund since inception. Returns shown are total returns, which assume the reinvestment of dividends and capital gains. The table and graph presented above do not reflect the deduction of taxes a shareholder would pay on Fund distributions or the redemption of Fund shares. Past performance is not indicative of future performance.Call 866-348-6466 or visit https://cbisonline.com/us/catholic-responsible-investing/performance/ for current month-end performance.

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Total Return (TR) - Reflects no deductions for fees, expenses or taxes. |

---

## Average Annual Total Returns as of October 31, 2025

---

| | | |
|:---|:---|:---|
| <u>Fund/Index Name</u> | <u>1 Year</u> | <u>Annualized Since Inception</u> |
| Catholic Responsible Investments Small-Cap Fund, Institutional Class Shares | 5.45% | 3.18% |
| Russell 3000 Index (USD) (TR)<sup>Footnote Reference\*</sup> | 20.81% | 11.75% |
| S&P SmallCap 600 Index (USD) | 5.51% | 3.50% |

---

## Key Fund Statistics as of October 31, 2025

---

| | | | |
|:---|:---|:---|:---|
| <u>Total Net Assets</u> | <u>Number of Holdings</u> | <u>Total Advisory Fees Paid</u> | <u>Portfolio Turnover Rate</u> |
| $552783568 | 575 | $1091551 | 26% |

---

## What did the Fund invest in?

### Sector Weightings<sup>Footnote Reference \*</sup>
![Holdings Chart](i2a96cebc80abcb7af468dfeb.jpg)

---

| | |
|:---|:---|
| Value | Value.1 |
| Rights | 0.0% |
| Futures Contracts | 0.0% |
| Short-Term Investment | 0.8% |
| Utilities | 2.0% |
| Consumer Staples | 2.4% |
| Communication Services | 3.2% |
| Energy | 4.4% |
| Materials | 4.8% |
| Real Estate | 7.1% |
| Health Care | 10.7% |
| Consumer Discretionary | 12.7% |
| Information Technology | 16.4% |
| Financials | 17.4% |
| Industrials | 17.8% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Percentages are calculated based on total net assets. |

---

### Top Ten Holdings

---

| | |
|:---|:---|
| <u>Holding Name</u> | <u>Percentage of Total Net Assets<sup>Footnote Reference(A)</sup></u> |
| Sandisk | 1.9% |
| Sterling Infrastructure | 0.8% |
| SPX Technologies | 0.8% |
| Lumen Technologies | 0.7% |
| InterDigital | 0.6% |
| BorgWarner | 0.6% |
| Hecla Mining | 0.6% |
| Dycom Industries | 0.6% |
| Armstrong World Industries | 0.6% |
| Qorvo | 0.5% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(A)</sup> | &nbsp;&nbsp;Short-Term Investments are not shown in the top ten chart. |

---

## Material Fund Changes
There were no material changes during the reporting period.

## Changes in and Disagreements with Accountants
There were no changes in or disagreements with accountants during the reporting period.

## Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information, call or visit:

* 866-348-6466 

* https://cbisonline.com/us/legal-financial/ 

## Householding
Rule 30e-1 of the Investment Company Act of 1940 permits funds to transmit only one copy of a proxy statement, annual report or semi-annual report to shareholders (who need not be related) with the same residential, commercial or electronic address, provided that the shareholders have consented in writing and the reports are addressed either to each shareholder individually or to the shareholders as a group. This process is known as "householding" and is designed to reduce the duplicate copies of materials that shareholders receive and to lower printing and mailing costs for funds. Once implemented, if you would like to discontinue householding for your accounts, please call toll-free at 866-348-6466 to request individual copies of these documents. Once the Fund receives notice to stop householding, we will begin sending individual copies 30 days after receiving your request.

## Catholic Responsible Investments Funds

## Catholic Responsible Investments Small-Cap Fund / Institutional Class Shares - CRSSX

## Annual Shareholder Report: October 31, 2025

## CRSSX-AR-2025
![Image](i3df3b53a8605bb989d71f11d.jpg)

# Catholic Responsible Investments Funds
![Image](i3df3b53a8605bb989d71f11d.jpg)

## Catholic Responsible Investments Multi-Style US Equity Fund

#### Institutional Class Shares - CRTSX

## Annual Shareholder Report: October 31, 2025
This annual shareholder report contains important information about Institutional Class Shares of the Catholic Responsible Investments Multi-Style US Equity Fund (the "Fund") for the period from November 1, 2024 to October 31, 2025. You can find additional information about the Fund at https://cbisonline.com/us/legal-financial/. You can also request this information by contacting us at 866-348-6466.

## What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| <u>Fund Name</u> | <u>Costs of a $10,000 investment</u> | <u>Costs paid as a percentage of a $10,000 investment</u> |
| Catholic Responsible Investments Multi-Style US Equity Fund, Institutional Class Shares | $73 | 0.67% |

---

## How did the Fund perform in the last year?
The Fund seeks to achieve long-term capital appreciation.

The Fund seeks to achieve long-term capital appreciation by investing primarily in a broadly diversified portfolio of equity securities of predominantly mid to large capitalization companies included in the Russell 1000<sup>®</sup> Index (the "Index") that are believed to have above-average market appreciation potential. Under normal circumstances, the Fund will invest at least 80% of the value of its net assets plus borrowings for investment purposes in equity securities of companies located in the United States. An issuer of a security will be deemed to be located in the United States if: (i) the principal trading market for the security is in the United States, (ii) the issuer is organized under the laws of the United States, or (iii) the issuer derives at least 50% of its revenues or profits from the United States or has at least 50% of its total assets situated in the United States.

CRI Multi-Style US Equity Fund Review

Global markets delivered strong performance over the fiscal year, despite periods of heightened volatility. Market fluctuations were driven by shifts in monetary policy, evolving tariff expectations, and ongoing trade negotiations influenced by U.S. policy. Geopolitical tensions in the Middle East added further uncertainty to the economic landscape.

Yet, resilience remained a defining feature of global markets. Investor confidence held firm, supported by adaptive strategies and diversified growth across regions. Notably, the Federal Reserve began cutting interest rates in the third and fourth quarters, even as inflationary pressures persisted. This policy pivot underscored the balancing act between sustaining economic momentum and managing price stability.

The Fund delivered fiscal year performance that was positive from an absolute standpoint despite being slightly behind the index. Contributors of performance are based on security selection and sector allocation in such areas as healthcare and materials.

## How did the Fund perform since inception?

## Total Return Based on $5,000,000 Investment
![Growth of 10K Chart](ied24dddd4ab487a9fb8bbb44.jpg)

---

| | | |
|:---|:---|:---|
| | Catholic Responsible Investments Multi-Style US Equity Fund, Institutional Class Shares | Russell 1000 Index (USD) (TR)<sup>Footnote Reference\*</sup> |
| Dec/21 | $5000000 | $5000000 |
| Oct/22 | $4030370 | $4275047 |
| Oct/23 | $4480367 | $4680487 |
| Oct/24 | $5884212 | $6462294 |
| Oct/25 | $6964051 | $7828158 |

---

Since its inception on December 6, 2021. The line graph represents historical performance of a hypothetical investment of $5,000,000 in the Fund since inception. Returns shown are total returns, which assume the reinvestment of dividends and capital gains. The table and graph presented above do not reflect the deduction of taxes a shareholder would pay on Fund distributions or the redemption of Fund shares. Past performance is not indicative of future performance.Call 866-348-6466 or visit https://cbisonline.com/us/catholic-responsible-investing/performance/ for current month-end performance.

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Total Return (TR) - Reflects no deductions for fees, expenses or taxes. |

---

## Average Annual Total Returns as of October 31, 2025

---

| | | |
|:---|:---|:---|
| <u>Fund/Index Name</u> | <u>1 Year</u> | <u>Annualized Since Inception</u> |
| Catholic Responsible Investments Multi-Style US Equity Fund, Institutional Class Shares | 18.35% | 8.84% |
| Russell 1000 Index (USD) (TR)<sup>Footnote Reference\*</sup> | 21.14% | 12.14% |

---

## Key Fund Statistics as of October 31, 2025

---

| | | | |
|:---|:---|:---|:---|
| <u>Total Net Assets</u> | <u>Number of Holdings</u> | <u>Total Advisory Fees Paid</u> | <u>Portfolio Turnover Rate</u> |
| $759819552 | 310 | $4841902 | 41% |

---

## What did the Fund invest in?

### Sector Weightings<sup>Footnote Reference \*</sup>
![Holdings Chart](id7d64b252251c73738e492c3.jpg)

---

| | |
|:---|:---|
| Value | Value.1 |
| Short-Term Investment | 0.0% |
| Real Estate | 0.8% |
| Utilities | 1.8% |
| Energy | 2.7% |
| Consumer Staples | 4.3% |
| Materials | 4.9% |
| Health Care | 6.2% |
| Consumer Discretionary | 8.0% |
| Communication Services | 8.5% |
| Industrials | 11.0% |
| Financials | 14.0% |
| Information Technology | 36.3% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Percentages are calculated based on total net assets. |

---

### Top Ten Holdings

---

| | |
|:---|:---|
| <u>Holding Name</u> | <u>Percentage of Total Net Assets<sup>Footnote Reference(A)</sup></u> |
| NVIDIA | 6.4% |
| Microsoft | 6.4% |
| Apple | 5.2% |
| Amazon.com | 4.8% |
| Meta Platforms, Cl A | 3.0% |
| Broadcom | 2.8% |
| Oracle | 2.4% |
| Alphabet, Cl C | 2.0% |
| Alphabet, Cl A | 1.8% |
| JPMorgan Chase | 1.8% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(A)</sup> | &nbsp;&nbsp;Short-Term Investments are not shown in the top ten chart. |

---

## Material Fund Changes
There were no material changes during the reporting period.

## Changes in and Disagreements with Accountants
There were no changes in or disagreements with accountants during the reporting period.

## Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information, call or visit:

* 866-348-6466 

* https://cbisonline.com/us/legal-financial/ 

## Householding
Rule 30e-1 of the Investment Company Act of 1940 permits funds to transmit only one copy of a proxy statement, annual report or semi-annual report to shareholders (who need not be related) with the same residential, commercial or electronic address, provided that the shareholders have consented in writing and the reports are addressed either to each shareholder individually or to the shareholders as a group. This process is known as "householding" and is designed to reduce the duplicate copies of materials that shareholders receive and to lower printing and mailing costs for funds. Once implemented, if you would like to discontinue householding for your accounts, please call toll-free at 866-348-6466 to request individual copies of these documents. Once the Fund receives notice to stop householding, we will begin sending individual copies 30 days after receiving your request.

## Catholic Responsible Investments Funds

## Catholic Responsible Investments Multi-Style US Equity Fund / Institutional Class Shares - CRTSX

## Annual Shareholder Report: October 31, 2025

## CRTSX-AR-2025
![Image](i3df3b53a8605bb989d71f11d.jpg)

# Catholic Responsible Investments Funds
![Image](i3df3b53a8605bb989d71f11d.jpg)

## Catholic Responsible Investments Multi-Style US Equity Fund

#### Investor Class Shares - CRTVX

## Annual Shareholder Report: October 31, 2025
This annual shareholder report contains important information about Investor Class Shares of the Catholic Responsible Investments Multi-Style US Equity Fund (the "Fund") for the period from November 1, 2024 to October 31, 2025. You can find additional information about the Fund at https://cbisonline.com/us/legal-financial/. You can also request this information by contacting us at 866-348-6466.

## What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| <u>Fund Name</u> | <u>Costs of a $10,000 investment</u> | <u>Costs paid as a percentage of a $10,000 investment</u> |
| Catholic Responsible Investments Multi-Style US Equity Fund, Investor Class Shares | $89 | 0.82% |

---

## How did the Fund perform in the last year?
The Fund seeks to achieve long-term capital appreciation.

The Fund seeks to achieve long-term capital appreciation by investing primarily in a broadly diversified portfolio of equity securities of predominantly mid to large capitalization companies included in the Russell 1000<sup>®</sup> Index (the "Index") that are believed to have above-average market appreciation potential. Under normal circumstances, the Fund will invest at least 80% of the value of its net assets plus borrowings for investment purposes in equity securities of companies located in the United States. An issuer of a security will be deemed to be located in the United States if: (i) the principal trading market for the security is in the United States, (ii) the issuer is organized under the laws of the United States, or (iii) the issuer derives at least 50% of its revenues or profits from the United States or has at least 50% of its total assets situated in the United States.

CRI Multi-Style US Equity Fund Review

Global markets delivered strong performance over the fiscal year, despite periods of heightened volatility. Market fluctuations were driven by shifts in monetary policy, evolving tariff expectations, and ongoing trade negotiations influenced by U.S. policy. Geopolitical tensions in the Middle East added further uncertainty to the economic landscape.

Yet, resilience remained a defining feature of global markets. Investor confidence held firm, supported by adaptive strategies and diversified growth across regions. Notably, the Federal Reserve began cutting interest rates in the third and fourth quarters, even as inflationary pressures persisted. This policy pivot underscored the balancing act between sustaining economic momentum and managing price stability.

The Fund delivered fiscal year performance that was positive from an absolute standpoint despite being slightly behind the index. Contributors of performance are based on security selection and sector allocation in such areas as healthcare and materials.

## How did the Fund perform since inception?

## Total Return Based on $10,000 Investment
![Growth of 10K Chart](iad529ce1a1fa8c79d3d5ace7.jpg)

---

| | | |
|:---|:---|:---|
| | Catholic Responsible Investments Multi-Style US Equity Fund, Investor Class Shares | Russell 1000 Index (USD) (TR)<sup>Footnote Reference\*</sup> |
| Dec/21 | $10000 | $10000 |
| Oct/22 | $8050 | $8550 |
| Oct/23 | $8936 | $9361 |
| Oct/24 | $11718 | $12925 |
| Oct/25 | $13847 | $15656 |

---

Since its inception on December 6, 2021. The line graph represents historical performance of a hypothetical investment of $10,000 in the Fund since inception. Returns shown are total returns, which assume the reinvestment of dividends and capital gains. The table and graph presented above do not reflect the deduction of taxes a shareholder would pay on Fund distributions or the redemption of Fund shares. Past performance is not indicative of future performance.Call 866-348-6466 or visit https://cbisonline.com/us/catholic-responsible-investing/performance/ for current month-end performance.

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Total Return (TR) - Reflects no deductions for fees, expenses or taxes. |

---

## Average Annual Total Returns as of October 31, 2025

---

| | | |
|:---|:---|:---|
| <u>Fund/Index Name</u> | <u>1 Year</u> | <u>Annualized Since Inception</u> |
| Catholic Responsible Investments Multi-Style US Equity Fund, Investor Class Shares | 18.17% | 8.68% |
| Russell 1000 Index (USD) (TR)<sup>Footnote Reference\*</sup> | 21.14% | 12.14% |

---

## Key Fund Statistics as of October 31, 2025

---

| | | | |
|:---|:---|:---|:---|
| <u>Total Net Assets</u> | <u>Number of Holdings</u> | <u>Total Advisory Fees Paid</u> | <u>Portfolio Turnover Rate</u> |
| $759819552 | 310 | $4841902 | 41% |

---

## What did the Fund invest in?

### Sector Weightings<sup>Footnote Reference \*</sup>
![Holdings Chart](id7d64b252251c73738e492c3.jpg)

---

| | |
|:---|:---|
| Value | Value.1 |
| Short-Term Investment | 0.0% |
| Real Estate | 0.8% |
| Utilities | 1.8% |
| Energy | 2.7% |
| Consumer Staples | 4.3% |
| Materials | 4.9% |
| Health Care | 6.2% |
| Consumer Discretionary | 8.0% |
| Communication Services | 8.5% |
| Industrials | 11.0% |
| Financials | 14.0% |
| Information Technology | 36.3% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Percentages are calculated based on total net assets. |

---

### Top Ten Holdings

---

| | |
|:---|:---|
| <u>Holding Name</u> | <u>Percentage of Total Net Assets<sup>Footnote Reference(A)</sup></u> |
| NVIDIA | 6.4% |
| Microsoft | 6.4% |
| Apple | 5.2% |
| Amazon.com | 4.8% |
| Meta Platforms, Cl A | 3.0% |
| Broadcom | 2.8% |
| Oracle | 2.4% |
| Alphabet, Cl C | 2.0% |
| Alphabet, Cl A | 1.8% |
| JPMorgan Chase | 1.8% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(A)</sup> | &nbsp;&nbsp;Short-Term Investments are not shown in the top ten chart. |

---

## Material Fund Changes
There were no material changes during the reporting period.

## Changes in and Disagreements with Accountants
There were no changes in or disagreements with accountants during the reporting period.

## Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information, call or visit:

* 866-348-6466 

* https://cbisonline.com/us/legal-financial/ 

## Householding
Rule 30e-1 of the Investment Company Act of 1940 permits funds to transmit only one copy of a proxy statement, annual report or semi-annual report to shareholders (who need not be related) with the same residential, commercial or electronic address, provided that the shareholders have consented in writing and the reports are addressed either to each shareholder individually or to the shareholders as a group. This process is known as "householding" and is designed to reduce the duplicate copies of materials that shareholders receive and to lower printing and mailing costs for funds. Once implemented, if you would like to discontinue householding for your accounts, please call toll-free at 866-348-6466 to request individual copies of these documents. Once the Fund receives notice to stop householding, we will begin sending individual copies 30 days after receiving your request.

## Catholic Responsible Investments Funds

## Catholic Responsible Investments Multi-Style US Equity Fund / Investor Class Shares - CRTVX

## Annual Shareholder Report: October 31, 2025

## CRTVX-AR-2025
![Image](i3df3b53a8605bb989d71f11d.jpg)

# Catholic Responsible Investments Funds
![Image](i3df3b53a8605bb989d71f11d.jpg)

## Catholic Responsible Investments International Equity Fund

#### Institutional Class Shares - CRLSX

## Annual Shareholder Report: October 31, 2025
This annual shareholder report contains important information about Institutional Class Shares of the Catholic Responsible Investments International Equity Fund (the "Fund") for the period from November 1, 2024 to October 31, 2025. You can find additional information about the Fund at https://cbisonline.com/us/legal-financial/. You can also request this information by contacting us at 866-348-6466.

## What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| <u>Fund Name</u> | <u>Costs of a $10,000 investment</u> | <u>Costs paid as a percentage of a $10,000 investment</u> |
| Catholic Responsible Investments International Equity Fund, Institutional Class Shares | $89 | 0.80% |

---

## How did the Fund perform in the last year?
The Fund seeks to achieve long-term capital appreciation.

The Fund seeks to achieve long-term capital appreciation by investing primarily in a broadly diversified portfolio of equity securities of well-established companies based in those countries included in the MSCI ACWI ex-USA Index (the "Index") that are believed to have above average market appreciation potential.

CRI International Equity Fund Review

Global markets delivered strong performance over the fiscal year, despite periods of heightened volatility. Market fluctuations were driven by shifts in monetary policy, evolving tariff expectations, and ongoing trade negotiations influenced by U.S. policy. Geopolitical tensions in the Middle East added further uncertainty to the economic landscape.

Yet, resilience remained a defining feature of global markets. Investor confidence held firm, supported by adaptive strategies and diversified growth across regions. Notably, the Federal Reserve began cutting interest rates in the third and fourth quarters, even as inflationary pressures persisted. This policy pivot underscored the balancing act between sustaining economic momentum and managing price stability.

The Fund provided positive returns for the fiscal year. Positive performance in international equity markets over the last 12 months was primarily driven by strong corporate earnings growth, a weaker U.S. dollar, more attractive valuations relative to the U.S. market, and new fiscal stimulus measures in several regions.

## How did the Fund perform since inception?

## Total Return Based on $5,000,000 Investment
![Growth of 10K Chart](iab4e4428add0d71e6e712ed4.jpg)

---

| | | |
|:---|:---|:---|
| | Catholic Responsible Investments International Equity Fund, Institutional Class Shares | MSCI ACWI ex-USA Index (USD) (Gross)<sup>Footnote Reference\*</sup> |
| Dec/21 | $5000000 | $5000000 |
| Oct/22 | $3753869 | $3933434 |
| Oct/23 | $4250919 | $4431512 |
| Oct/24 | $5367548 | $5538673 |
| Oct/25 | $6525902 | $6957785 |

---

Since its inception on December 6, 2021. The line graph represents historical performance of a hypothetical investment of $5,000,000 in the Fund since inception. Returns shown are total returns, which assume the reinvestment of dividends and capital gains. The table and graph presented above do not reflect the deduction of taxes a shareholder would pay on Fund distributions or the redemption of Fund shares. Past performance is not indicative of future performance.Call 866-348-6466 or visit https://cbisonline.com/us/catholic-responsible-investing/performance/ for current month-end performance.

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;ACWI – All Country World Index |

---

## Average Annual Total Returns as of October 31, 2025

---

| | | |
|:---|:---|:---|
| <u>Fund/Index Name</u> | <u>1 Year</u> | <u>Annualized Since Inception</u> |
| Catholic Responsible Investments International Equity Fund, Institutional Class Shares | 21.58% | 7.04% |
| MSCI ACWI ex-USA Index (USD) (Gross)<sup>Footnote Reference\*</sup> | 25.62% | 8.81% |

---

## Key Fund Statistics as of October 31, 2025

---

| | | | |
|:---|:---|:---|:---|
| <u>Total Net Assets</u> | <u>Number of Holdings</u> | <u>Total Advisory Fees Paid</u> | <u>Portfolio Turnover Rate</u> |
| $2136864029 | 309 | $13655847 | 46% |

---

## What did the Fund invest in?

### Country Weightings<sup>Footnote Reference \*</sup>
![Holdings Chart](i17949d173f65a0a1e85fcc33.jpg)

---

| | |
|:---|:---|
| Value | Value.1 |
| Other Countries | 18.7% |
| Short-Term Investment | 0.1% |
| Ireland | 2.6% |
| India | 2.9% |
| South Korea | 3.2% |
| Singapore | 3.5% |
| Canada | 4.7% |
| China | 7.0% |
| Taiwan | 7.4% |
| Netherlands | 7.5% |
| France | 9.1% |
| Japan | 9.2% |
| Germany | 9.6% |
| United Kingdom | 12.3% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Percentages are calculated based on total net assets. |

---

### Top Ten Holdings

---

| | |
|:---|:---|
| <u>Holding Name</u> | <u>Percentage of Total Net Assets<sup>Footnote Reference(A)</sup></u> |
| Taiwan Semiconductor Manufacturing | 3.6% |
| Tencent Holdings | 3.3% |
| Siemens Energy | 2.5% |
| Taiwan Semiconductor Manufacturing ADR | 2.5% |
| Kering | 2.0% |
| SAP | 2.0% |
| Nintendo | 1.8% |
| Deutsche Telekom | 1.6% |
| Sea ADR | 1.6% |
| 3i Group | 1.5% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(A)</sup> | &nbsp;&nbsp;Short-Term Investments are not shown in the top ten chart. |

---

## Material Fund Changes
There were no material changes during the reporting period.

## Changes in and Disagreements with Accountants
There were no changes in or disagreements with accountants during the reporting period.

## Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information, call or visit:

* 866-348-6466 

* https://cbisonline.com/us/legal-financial/ 

## Householding
Rule 30e-1 of the Investment Company Act of 1940 permits funds to transmit only one copy of a proxy statement, annual report or semi-annual report to shareholders (who need not be related) with the same residential, commercial or electronic address, provided that the shareholders have consented in writing and the reports are addressed either to each shareholder individually or to the shareholders as a group. This process is known as "householding" and is designed to reduce the duplicate copies of materials that shareholders receive and to lower printing and mailing costs for funds. Once implemented, if you would like to discontinue householding for your accounts, please call toll-free at 866-348-6466 to request individual copies of these documents. Once the Fund receives notice to stop householding, we will begin sending individual copies 30 days after receiving your request.

## Catholic Responsible Investments Funds

## Catholic Responsible Investments International Equity Fund / Institutional Class Shares - CRLSX

## Annual Shareholder Report: October 31, 2025

## CRLSX-AR-2025
![Image](i3df3b53a8605bb989d71f11d.jpg)

# Catholic Responsible Investments Funds
![Image](i3df3b53a8605bb989d71f11d.jpg)

## Catholic Responsible Investments International Equity Fund

#### Investor Class Shares - CRLVX

## Annual Shareholder Report: October 31, 2025
This annual shareholder report contains important information about Investor Class Shares of the Catholic Responsible Investments International Equity Fund (the "Fund") for the period from November 1, 2024 to October 31, 2025. You can find additional information about the Fund at https://cbisonline.com/us/legal-financial/. You can also request this information by contacting us at 866-348-6466.

## What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| <u>Fund Name</u> | <u>Costs of a $10,000 investment</u> | <u>Costs paid as a percentage of a $10,000 investment</u> |
| Catholic Responsible Investments International Equity Fund, Investor Class Shares | $105 | 0.95% |

---

## How did the Fund perform in the last year?
The Fund seeks to achieve long-term capital appreciation.

The Fund seeks to achieve long-term capital appreciation by investing primarily in a broadly diversified portfolio of equity securities of well-established companies based in those countries included in the MSCI ACWI ex-USA Index (the "Index") that are believed to have above average market appreciation potential.

CRI International Equity Fund Review

Global markets delivered strong performance over the fiscal year, despite periods of heightened volatility. Market fluctuations were driven by shifts in monetary policy, evolving tariff expectations, and ongoing trade negotiations influenced by U.S. policy. Geopolitical tensions in the Middle East added further uncertainty to the economic landscape.

Yet, resilience remained a defining feature of global markets. Investor confidence held firm, supported by adaptive strategies and diversified growth across regions. Notably, the Federal Reserve began cutting interest rates in the third and fourth quarters, even as inflationary pressures persisted. This policy pivot underscored the balancing act between sustaining economic momentum and managing price stability.

The Fund provided positive returns for the fiscal year. Positive performance in international equity markets over the last 12 months was primarily driven by strong corporate earnings growth, a weaker U.S. dollar, more attractive valuations relative to the U.S. market, and new fiscal stimulus measures in several regions.

## How did the Fund perform since inception?

## Total Return Based on $10,000 Investment
![Growth of 10K Chart](idb44c92ecfb76aacec149c13.jpg)

---

| | | |
|:---|:---|:---|
| | Catholic Responsible Investments International Equity Fund, Investor Class Shares | MSCI ACWI ex-USA Index (USD) (Gross)<sup>Footnote Reference\*</sup> |
| Dec/21 | $10000 | $10000 |
| Oct/22 | $7498 | $7867 |
| Oct/23 | $8478 | $8863 |
| Oct/24 | $10695 | $11077 |
| Oct/25 | $12982 | $13916 |

---

Since its inception on December 6, 2021. The line graph represents historical performance of a hypothetical investment of $10,000 in the Fund since inception. Returns shown are total returns, which assume the reinvestment of dividends and capital gains. The table and graph presented above do not reflect the deduction of taxes a shareholder would pay on Fund distributions or the redemption of Fund shares. Past performance is not indicative of future performance.Call 866-348-6466 or visit https://cbisonline.com/us/catholic-responsible-investing/performance/ for current month-end performance.

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;ACWI – All Country World Index |

---

## Average Annual Total Returns as of October 31, 2025

---

| | | |
|:---|:---|:---|
| <u>Fund/Index Name</u> | <u>1 Year</u> | <u>Annualized Since Inception</u> |
| Catholic Responsible Investments International Equity Fund, Investor Class Shares | 21.39% | 6.90% |
| MSCI ACWI ex-USA Index (USD) (Gross)<sup>Footnote Reference\*</sup> | 25.62% | 8.81% |

---

## Key Fund Statistics as of October 31, 2025

---

| | | | |
|:---|:---|:---|:---|
| <u>Total Net Assets</u> | <u>Number of Holdings</u> | <u>Total Advisory Fees Paid</u> | <u>Portfolio Turnover Rate</u> |
| $2136864029 | 309 | $13655847 | 46% |

---

## What did the Fund invest in?

### Country Weightings<sup>Footnote Reference \*</sup>
![Holdings Chart](i17949d173f65a0a1e85fcc33.jpg)

---

| | |
|:---|:---|
| Value | Value.1 |
| Other Countries | 18.7% |
| Short-Term Investment | 0.1% |
| Ireland | 2.6% |
| India | 2.9% |
| South Korea | 3.2% |
| Singapore | 3.5% |
| Canada | 4.7% |
| China | 7.0% |
| Taiwan | 7.4% |
| Netherlands | 7.5% |
| France | 9.1% |
| Japan | 9.2% |
| Germany | 9.6% |
| United Kingdom | 12.3% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Percentages are calculated based on total net assets. |

---

### Top Ten Holdings

---

| | |
|:---|:---|
| <u>Holding Name</u> | <u>Percentage of Total Net Assets<sup>Footnote Reference(A)</sup></u> |
| Taiwan Semiconductor Manufacturing | 3.6% |
| Tencent Holdings | 3.3% |
| Siemens Energy | 2.5% |
| Taiwan Semiconductor Manufacturing ADR | 2.5% |
| Kering | 2.0% |
| SAP | 2.0% |
| Nintendo | 1.8% |
| Deutsche Telekom | 1.6% |
| Sea ADR | 1.6% |
| 3i Group | 1.5% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(A)</sup> | &nbsp;&nbsp;Short-Term Investments are not shown in the top ten chart. |

---

## Material Fund Changes
There were no material changes during the reporting period.

## Changes in and Disagreements with Accountants
There were no changes in or disagreements with accountants during the reporting period.

## Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information, call or visit:

* 866-348-6466 

* https://cbisonline.com/us/legal-financial/ 

## Householding
Rule 30e-1 of the Investment Company Act of 1940 permits funds to transmit only one copy of a proxy statement, annual report or semi-annual report to shareholders (who need not be related) with the same residential, commercial or electronic address, provided that the shareholders have consented in writing and the reports are addressed either to each shareholder individually or to the shareholders as a group. This process is known as "householding" and is designed to reduce the duplicate copies of materials that shareholders receive and to lower printing and mailing costs for funds. Once implemented, if you would like to discontinue householding for your accounts, please call toll-free at 866-348-6466 to request individual copies of these documents. Once the Fund receives notice to stop householding, we will begin sending individual copies 30 days after receiving your request.

## Catholic Responsible Investments Funds

## Catholic Responsible Investments International Equity Fund / Investor Class Shares - CRLVX

## Annual Shareholder Report: October 31, 2025

## CRLVX-AR-2025
![Image](i3df3b53a8605bb989d71f11d.jpg)

# Catholic Responsible Investments Funds
![Image](i3df3b53a8605bb989d71f11d.jpg)

## Catholic Responsible Investments International Small-Cap Fund

#### Institutional Class Shares - CRNSX

## Annual Shareholder Report: October 31, 2025
This annual shareholder report contains important information about Institutional Class Shares of the Catholic Responsible Investments International Small-Cap Fund (the "Fund") for the period from November 1, 2024 to October 31, 2025. You can find additional information about the Fund at https://cbisonline.com/us/legal-financial/. You can also request this information by contacting us at 866-348-6466.

## What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| <u>Fund Name</u> | <u>Costs of a $10,000 investment</u> | <u>Costs paid as a percentage of a $10,000 investment</u> |
| Catholic Responsible Investments International Small-Cap Fund, Institutional Class Shares | $127 | 1.15% |

---

## How did the Fund perform in the last year?
The Fund seeks to achieve long-term capital appreciation.

The Fund seeks to achieve long-term capital appreciation by investing primarily in a broadly diversified portfolio of equity securities of small capitalization companies based in those countries included in the MSCI ACWI ex-USA Small Cap Index (the "Index") that are believed to have above-average market appreciation potential. Under normal circumstances, the Fund invests at least 80% of the value of its net assets plus borrowings for investment purposes in a broadly diversified portfolio of equity securities of small capitalization companies that are located in countries throughout the world. For purposes of the Fund's 80% investment policy, equity securities include international equities traded on recognized global exchanges, private placements of equity securities, rights offerings, warrants, ADRs, new issues of equity securities, ETFs that primarily invest in equity securities, and derivatives, primarily index futures with economic characteristics similar to equity securities. The Fund may at times purchase or sell futures contracts on the Index, or options on those futures, in lieu of investing directly in the stocks making up the Index. Alternatively, the Fund might use futures or options on futures to reduce its investment exposure in situations where it intends to sell a portion of the stocks in its portfolio but the sale has not yet been completed. In some circumstances, the Fund may purchase ADRs, rather than foreign shares that are traded on foreign exchanges, because the ADRs have greater liquidity or for other reasons. Some of these investments will cause the Fund to be, in part, indirectly exposed to companies that would otherwise be screened out by the Adviser's Catholic Responsible Investments screening criteria. Accordingly, the Fund limits such investments to situations where they (a) do not constitute, in the aggregate, more than 5% of the Fund's investments at any time, and (b) where the Adviser determines such investments are necessary to achieve the Fund's investment objective and when the Adviser believes there are no reasonable alternative investments that exist that are consistent with its Catholic Responsible Investing screening criteria.

CRI International Small-Cap Fund Review

Global markets delivered strong performance over the fiscal year, despite periods of heightened volatility. Market fluctuations were driven by shifts in monetary policy, evolving tariff expectations, and ongoing trade negotiations influenced by U.S. policy. Geopolitical tensions in the Middle East added further uncertainty to the economic landscape.

Yet, resilience remained a defining feature of global markets. Investor confidence held firm, supported by adaptive strategies and diversified growth across regions. Notably, the Federal Reserve began cutting interest rates in the third and fourth quarters, even as inflationary pressures persisted. This policy pivot underscored the balancing act between sustaining economic momentum and managing price stability.

The Fund posted positive performance over the fiscal year. Results were driven by several key factors: a weaker U.S. dollar, expectations of declining interest rates and subsequent monetary easing, and improving international economic fundamentals.

## How did the Fund perform since inception?

## Total Return Based on $1,000,000 Investment
![Growth of 10K Chart](ic2e9abfb5acac3b955c46657.jpg)

---

| | | | |
|:---|:---|:---|:---|
| | Catholic Responsible Investments International Small-Cap Fund, Institutional Class Shares | MSCI ACWI ex-USA IMI (USD) (TR)<sup>Footnote Reference\*</sup><sup>Footnote Reference†</sup><sup>Footnote Reference‡</sup> | MSCI ACWI ex-USA Small Cap (USD) (Gross)<sup>Footnote Reference†</sup> |
| Dec/21 | $1000000 | $1000000 | $1000000 |
| Oct/22 | $770397 | $783226 | $762827 |
| Oct/23 | $832919 | $878762 | $834246 |
| Oct/24 | $1048472 | $1097517 | $1037210 |
| Oct/25 | $1276358 | $1375150 | $1277722 |

---

Since its inception on December 6, 2021. The line graph represents historical performance of a hypothetical investment of $1,000,000 in the Fund since inception. Returns shown are total returns, which assume the reinvestment of dividends and capital gains. The table and graph presented above do not reflect the deduction of taxes a shareholder would pay on Fund distributions or the redemption of Fund shares. Past performance is not indicative of future performance.Call 866-348-6466 or visit https://cbisonline.com/us/catholic-responsible-investing/performance/ for current month-end performance.

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;IMI - Investable Market Index |
| &nbsp;&nbsp;Footnote<sup>†</sup> | &nbsp;&nbsp;ACWI – All Country World Index |
| &nbsp;&nbsp;Footnote<sup>‡</sup> | &nbsp;&nbsp;Total Return (TR) - Reflects no deductions for fees, expenses or taxes. |

---

## Average Annual Total Returns as of October 31, 2025

---

| | | |
|:---|:---|:---|
| <u>Fund/Index Name</u> | <u>1 Year</u> | <u>Annualized Since Inception</u> |
| Catholic Responsible Investments International Small-Cap Fund, Institutional Class Shares | 21.73% | 6.44% |
| MSCI ACWI ex-USA IMI (USD) (TR)<sup>Footnote Reference\*</sup><sup>Footnote Reference†</sup><sup>Footnote Reference‡</sup> | 25.30% | 8.48% |
| MSCI ACWI ex-USA Small Cap (USD) (Gross)<sup>Footnote Reference†</sup> | 23.19% | 6.46% |

---

## Key Fund Statistics as of October 31, 2025

---

| | | | |
|:---|:---|:---|:---|
| <u>Total Net Assets</u> | <u>Number of Holdings</u> | <u>Total Advisory Fees Paid</u> | <u>Portfolio Turnover Rate</u> |
| $111710509 | 405 | $892069 | 59% |

---

## What did the Fund invest in?

### Country Weightings<sup>Footnote Reference \*</sup>
![Holdings Chart](i3ab9f58dbd8710539d7d9345.jpg)

---

| | |
|:---|:---|
| Value | Value.1 |
| Futures Contracts | 0.0% |
| Other Countries | 22.2% |
| Short-Term Investment | 0.1% |
| Exchange-Traded Fund | 1.5% |
| China | 2.0% |
| South Korea | 2.6% |
| France | 2.9% |
| Germany | 3.3% |
| India | 3.6% |
| Sweden | 3.8% |
| Italy | 4.1% |
| Taiwan | 4.4% |
| Australia | 4.9% |
| Canada | 6.8% |
| United Kingdom | 8.9% |
| Japan | 24.3% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Percentages are calculated based on total net assets. |

---

### Top Ten Holdings

---

| | |
|:---|:---|
| <u>Holding Name</u> | <u>Percentage of Total Net Assets<sup>Footnote Reference(A)</sup></u> |
| Buzzi | 1.4% |
| iShares MSCI EAFE Small-Capital ETF | 1.1% |
| Alten | 1.1% |
| PrairieSky Royalty | 1.0% |
| Glory | 1.0% |
| Viscofan | 0.9% |
| IMI | 0.9% |
| MEITEC Group Holdings | 0.9% |
| DTS | 0.8% |
| Interpump Group | 0.8% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>(A)</sup> | &nbsp;&nbsp;Short-Term Investments are not shown in the top ten chart. |

---

## Material Fund Changes
There were no material changes during the reporting period.

## Changes in and Disagreements with Accountants
There were no changes in or disagreements with accountants during the reporting period.

## Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information, call or visit:

* 866-348-6466 

* https://cbisonline.com/us/legal-financial/ 

## Householding
Rule 30e-1 of the Investment Company Act of 1940 permits funds to transmit only one copy of a proxy statement, annual report or semi-annual report to shareholders (who need not be related) with the same residential, commercial or electronic address, provided that the shareholders have consented in writing and the reports are addressed either to each shareholder individually or to the shareholders as a group. This process is known as "householding" and is designed to reduce the duplicate copies of materials that shareholders receive and to lower printing and mailing costs for funds. Once implemented, if you would like to discontinue householding for your accounts, please call toll-free at 866-348-6466 to request individual copies of these documents. Once the Fund receives notice to stop householding, we will begin sending individual copies 30 days after receiving your request.

## Catholic Responsible Investments Funds

## Catholic Responsible Investments International Small-Cap Fund / Institutional Class Shares - CRNSX

## Annual Shareholder Report: October 31, 2025

## CRNSX-AR-2025
![Image](i3df3b53a8605bb989d71f11d.jpg)

# Catholic Responsible Investments Funds
![Image](i3df3b53a8605bb989d71f11d.jpg)

## Catholic Responsible Investments Magnus 45/55 Fund

#### Institutional Class Shares - CMNSX

## Annual Shareholder Report: October 31, 2025
This annual shareholder report contains important information about Institutional Class Shares of the Catholic Responsible Investments Magnus 45/55 Fund (the "Fund") for the period from November 1, 2024 to October 31, 2025. You can find additional information about the Fund at https://cbisonline.com/us/legal-financial/. You can also request this information by contacting us at 866-348-6466.

## What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| <u>Fund Name</u> | <u>Costs of a $10,000 investment</u> | <u>Costs paid as a percentage of a $10,000 investment</u> |
| Catholic Responsible Investments Magnus 45/55 Fund, Institutional Class Shares | $2 | 0.02%<sup>Footnote Reference†</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>†</sup> | &nbsp;&nbsp;The expense ratios do not include expenses of the underlying affiliated investment companies. |

---

## How did the Fund perform in the last year?
The Fund seeks to achieve current income and long-term capital appreciation.

The Fund is a "fund of funds," meaning that it seeks to achieve its objective by investing in other Catholic Responsible Investments Funds mutual funds (the "Underlying Funds") that represent a variety of asset classes and investment styles. The Fund's asset allocation strategy emphasizes investments in equity securities (and certain other instruments described below) in an amount equal to 45% of its assets and exposure to fixed income securities in an amount equal to 55% of its assets. Under normal circumstances, the Fund does not make direct investments into assets other than the underlying Catholic Responsible Investments Funds indicated in the chart below, government securities and short-term paper.

CRI Magnus 45/55 Fund Review

Global markets delivered strong performance over the fiscal year, despite periods of heightened volatility. Market fluctuations were driven by shifts in monetary policy, evolving tariff expectations, and ongoing trade negotiations influenced by U.S. policy. Geopolitical tensions in the Middle East added further uncertainty to the economic landscape.

Yet, resilience remained a defining feature of global markets. Investor confidence held firm, supported by adaptive strategies and diversified growth across regions. Notably, the Federal Reserve began cutting interest rates in the third and fourth quarters, even as inflationary pressures persisted. This policy pivot underscored the balancing act between sustaining economic momentum and managing price stability.

The Fund's fiscal year performance was positive from an absolute standpoint, however the lagged its custom benchmark, led by style selection, followed by active management. The style selection effect was negatively driven by both short duration fixed income and domestic small cap exposure. Active management detracted, predominately from large cap international exposure.

## How did the Fund perform since inception?

## Total Return Based on $15,000,000 Investment
![Growth of 10K Chart](i0e3f6d680c8ba7325061e506.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | Catholic Responsible Investments Magnus 45/55 Fund, Institutional Class Shares | MSCI ACWI Index (USD) (TR)<sup>Footnote Reference\*</sup><sup>Footnote Reference†</sup> | Bloomberg U.S. Aggregate Bond Index (USD) (TR)<sup>Footnote Reference†</sup> | Custom Hybrid<sup>Footnote Reference‡</sup> |
| Dec/21 | $15000000 | $15000000 | $15000000 | $15000000 |
| Oct/22 | $12920255 | $12393397 | $12569098 | $12612165 |
| Oct/23 | $13561070 | $13763749 | $12613839 | $13183359 |
| Oct/24 | $16261064 | $18361040 | $13944128 | $15937683 |
| Oct/25 | $18180592 | $22618243 | $14802965 | $18048222 |

---

Since its inception on December 6, 2021. The line graph represents historical performance of a hypothetical investment of $15,000,000 in the Fund since inception. Returns shown are total returns, which assume the reinvestment of dividends and capital gains. The table and graph presented above do not reflect the deduction of taxes a shareholder would pay on Fund distributions or the redemption of Fund shares. Past performance is not indicative of future performance.Call 866-348-6466 or visit https://cbisonline.com/us/catholic-responsible-investing/performance/ for current month-end performance.

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;ACWI – All Country World Index |
| &nbsp;&nbsp;Footnote<sup>†</sup> | &nbsp;&nbsp;Total Return (TR) - Reflects no deductions for fees, expenses or taxes. |
| &nbsp;&nbsp;Footnote<sup>‡</sup> | &nbsp;&nbsp;The Custom Benchmark is a blended benchmark composed of 55% of the Bloomberg U.S. Aggregate Bond Index, 33.75% of the Russell 3000<sup>®</sup> Index, and 11.25% of the MSCI ACWI ex-US Index. |

---

## Average Annual Total Returns as of October 31, 2025

---

| | | |
|:---|:---|:---|
| <u>Fund/Index Name</u> | <u>1 Year</u> | <u>Annualized Since Inception</u> |
| Catholic Responsible Investments Magnus 45/55 Fund, Institutional Class Shares | 11.80% | 5.04% |
| MSCI ACWI Index (USD) (TR)<sup>Footnote Reference\*</sup><sup>Footnote Reference†</sup> | 23.19% | 11.07% |
| Bloomberg U.S. Aggregate Bond Index (USD) (TR)<sup>Footnote Reference†</sup> | 6.16% | -0.34% |
| Custom Hybrid<sup>Footnote Reference‡</sup> | 13.24% | 4.84% |

---

## Key Fund Statistics as of October 31, 2025

---

| | | |
|:---|:---|:---|
| <u>Total Net Assets</u> | <u>Total Advisory Fees Paid</u> | <u>Portfolio Turnover Rate</u> |
| $140749646<sub>8</sub> | $- | 12% |

---

## What did the Fund invest in?

### Sector Weightings<sup>Footnote Reference \*</sup>
![Holdings Chart](i428ec4c0fc15cbcabd364726.jpg)

---

| | |
|:---|:---|
| Value | Value.1 |
| Open-End Mutual Funds | 99.6% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Percentages are calculated based on total net assets. |

---

### Top Holdings

---

| | |
|:---|:---|
| <u>Holding Name</u> | <u>Percentage of Total Net Assets</u> |
| Catholic Responsible Investments Bond Fund, Cl Institutional Shares<sup>Footnote Reference\*\*</sup> | 27.0% |
| Catholic Responsible Investments Equity Index Fund, Cl Institutional Shares<sup>Footnote Reference\*\*</sup> | 23.2% |
| Catholic Responsible Investments Opportunistic Bond Fund, Cl Institutional Shares<sup>Footnote Reference\*\*</sup> | 13.4% |
| Catholic Responsible Investments Short Duration Bond Fund, Cl Institutional Shares<sup>Footnote Reference\*\*</sup> | 13.3% |
| Catholic Responsible Investments International Equity Fund, Cl Institutional Shares<sup>Footnote Reference\*\*</sup> | 9.0% |
| Catholic Responsible Investments Multi-Style US Equity Fund, Cl Institutional Shares<sup>Footnote Reference\*\*</sup> | 7.1% |
| Catholic Responsible Investments Small-Cap Fund, Cl Institutional Shares<sup>Footnote Reference\*\*</sup> | 4.5% |
| Catholic Responsible Investments International Small-Cap Fund, Cl Institutional Shares<sup>Footnote Reference\*\*</sup> | 2.2% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*\*</sup> | &nbsp;&nbsp;Affiliated Investment |

---

## Material Fund Changes
There were no material changes during the reporting period.

## Changes in and Disagreements with Accountants
There were no changes in or disagreements with accountants during the reporting period.

## Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information, call or visit:

* 866-348-6466 

* https://cbisonline.com/us/legal-financial/ 

## Householding
Rule 30e-1 of the Investment Company Act of 1940 permits funds to transmit only one copy of a proxy statement, annual report or semi-annual report to shareholders (who need not be related) with the same residential, commercial or electronic address, provided that the shareholders have consented in writing and the reports are addressed either to each shareholder individually or to the shareholders as a group. This process is known as "householding" and is designed to reduce the duplicate copies of materials that shareholders receive and to lower printing and mailing costs for funds. Once implemented, if you would like to discontinue householding for your accounts, please call toll-free at 866-348-6466 to request individual copies of these documents. Once the Fund receives notice to stop householding, we will begin sending individual copies 30 days after receiving your request.

## Catholic Responsible Investments Funds

## Catholic Responsible Investments Magnus 45/55 Fund / Institutional Class Shares - CMNSX

## Annual Shareholder Report: October 31, 2025

## CMNSX-AR-2025
![Image](i3df3b53a8605bb989d71f11d.jpg)

# Catholic Responsible Investments Funds
![Image](i3df3b53a8605bb989d71f11d.jpg)

## Catholic Responsible Investments Magnus 45/55 Fund

#### Investor Class Shares - CMNVX

## Annual Shareholder Report: October 31, 2025
This annual shareholder report contains important information about Investor Class Shares of the Catholic Responsible Investments Magnus 45/55 Fund (the "Fund") for the period from November 1, 2024 to October 31, 2025. You can find additional information about the Fund at https://cbisonline.com/us/legal-financial/. You can also request this information by contacting us at 866-348-6466.

## What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| <u>Fund Name</u> | <u>Costs of a $10,000 investment</u> | <u>Costs paid as a percentage of a $10,000 investment</u> |
| Catholic Responsible Investments Magnus 45/55 Fund, Investor Class Shares | $18 | 0.17%<sup>Footnote Reference†</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>†</sup> | &nbsp;&nbsp;The expense ratios do not include expenses of the underlying affiliated investment companies. |

---

## How did the Fund perform in the last year?
The Fund seeks to achieve current income and long-term capital appreciation.

The Fund is a "fund of funds," meaning that it seeks to achieve its objective by investing in other Catholic Responsible Investments Funds mutual funds (the "Underlying Funds") that represent a variety of asset classes and investment styles. The Fund's asset allocation strategy emphasizes investments in equity securities (and certain other instruments described below) in an amount equal to 45% of its assets and exposure to fixed income securities in an amount equal to 55% of its assets. Under normal circumstances, the Fund does not make direct investments into assets other than the underlying Catholic Responsible Investments Funds indicated in the chart below, government securities and short-term paper.

CRI Magnus 45/55 Fund Review

Global markets delivered strong performance over the fiscal year, despite periods of heightened volatility. Market fluctuations were driven by shifts in monetary policy, evolving tariff expectations, and ongoing trade negotiations influenced by U.S. policy. Geopolitical tensions in the Middle East added further uncertainty to the economic landscape.

Yet, resilience remained a defining feature of global markets. Investor confidence held firm, supported by adaptive strategies and diversified growth across regions. Notably, the Federal Reserve began cutting interest rates in the third and fourth quarters, even as inflationary pressures persisted. This policy pivot underscored the balancing act between sustaining economic momentum and managing price stability.

The Fund's fiscal year performance was positive from an absolute standpoint, however the lagged its custom benchmark, led by style selection, followed by active management. The style selection effect was negatively driven by both short duration fixed income and domestic small cap exposure. Active management detracted, predominately from large cap international exposure.

## How did the Fund perform since inception?

## Total Return Based on $10,000 Investment
![Growth of 10K Chart](i56cd03872c8d0360ebe16755.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | Catholic Responsible Investments Magnus 45/55 Fund, Investor Class Shares | MSCI ACWI Index (USD) (TR)<sup>Footnote Reference\*</sup><sup>Footnote Reference†</sup> | Bloomberg U.S. Aggregate Bond Index (USD) (TR)<sup>Footnote Reference†</sup> | Custom Hybrid<sup>Footnote Reference‡</sup> |
| Dec/21 | $10000 | $10000 | $10000 | $10000 |
| Oct/22 | $8602 | $8262 | $8379 | $8408 |
| Oct/23 | $9014 | $9176 | $8409 | $8789 |
| Oct/24 | $10792 | $12241 | $9296 | $10625 |
| Oct/25 | $12048 | $15079 | $9869 | $12032 |

---

Since its inception on December 6, 2021. The line graph represents historical performance of a hypothetical investment of $10,000 in the Fund since inception. Returns shown are total returns, which assume the reinvestment of dividends and capital gains. The table and graph presented above do not reflect the deduction of taxes a shareholder would pay on Fund distributions or the redemption of Fund shares. Past performance is not indicative of future performance.Call 866-348-6466 or visit https://cbisonline.com/us/catholic-responsible-investing/performance/ for current month-end performance.

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;ACWI – All Country World Index |
| &nbsp;&nbsp;Footnote<sup>†</sup> | &nbsp;&nbsp;Total Return (TR) - Reflects no deductions for fees, expenses or taxes. |
| &nbsp;&nbsp;Footnote<sup>‡</sup> | &nbsp;&nbsp;The Custom Benchmark is a blended benchmark composed of 55% of the Bloomberg U.S. Aggregate Bond Index, 33.75% of the Russell 3000<sup>®</sup> Index, and 11.25% of the MSCI ACWI ex-US Index. |

---

## Average Annual Total Returns as of October 31, 2025

---

| | | |
|:---|:---|:---|
| <u>Fund/Index Name</u> | <u>1 Year</u> | <u>Annualized Since Inception</u> |
| Catholic Responsible Investments Magnus 45/55 Fund, Investor Class Shares | 11.64% | 4.88% |
| MSCI ACWI Index (USD) (TR)<sup>Footnote Reference\*</sup><sup>Footnote Reference†</sup> | 23.19% | 11.07% |
| Bloomberg U.S. Aggregate Bond Index (USD) (TR)<sup>Footnote Reference†</sup> | 6.16% | -0.34% |
| Custom Hybrid<sup>Footnote Reference‡</sup> | 13.24% | 4.84% |

---

## Key Fund Statistics as of October 31, 2025

---

| | | |
|:---|:---|:---|
| <u>Total Net Assets</u> | <u>Total Advisory Fees Paid</u> | <u>Portfolio Turnover Rate</u> |
| $140749646<sub>8</sub> | $- | 12% |

---

## What did the Fund invest in?

### Sector Weightings<sup>Footnote Reference \*</sup>
![Holdings Chart](i428ec4c0fc15cbcabd364726.jpg)

---

| | |
|:---|:---|
| Value | Value.1 |
| Open-End Mutual Funds | 99.6% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Percentages are calculated based on total net assets. |

---

### Top Holdings

---

| | |
|:---|:---|
| <u>Holding Name</u> | <u>Percentage of Total Net Assets</u> |
| Catholic Responsible Investments Bond Fund, Cl Institutional Shares<sup>Footnote Reference\*\*</sup> | 27.0% |
| Catholic Responsible Investments Equity Index Fund, Cl Institutional Shares<sup>Footnote Reference\*\*</sup> | 23.2% |
| Catholic Responsible Investments Opportunistic Bond Fund, Cl Institutional Shares<sup>Footnote Reference\*\*</sup> | 13.4% |
| Catholic Responsible Investments Short Duration Bond Fund, Cl Institutional Shares<sup>Footnote Reference\*\*</sup> | 13.3% |
| Catholic Responsible Investments International Equity Fund, Cl Institutional Shares<sup>Footnote Reference\*\*</sup> | 9.0% |
| Catholic Responsible Investments Multi-Style US Equity Fund, Cl Institutional Shares<sup>Footnote Reference\*\*</sup> | 7.1% |
| Catholic Responsible Investments Small-Cap Fund, Cl Institutional Shares<sup>Footnote Reference\*\*</sup> | 4.5% |
| Catholic Responsible Investments International Small-Cap Fund, Cl Institutional Shares<sup>Footnote Reference\*\*</sup> | 2.2% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*\*</sup> | &nbsp;&nbsp;Affiliated Investment |

---

## Material Fund Changes
There were no material changes during the reporting period.

## Changes in and Disagreements with Accountants
There were no changes in or disagreements with accountants during the reporting period.

## Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information, call or visit:

* 866-348-6466 

* https://cbisonline.com/us/legal-financial/ 

## Householding
Rule 30e-1 of the Investment Company Act of 1940 permits funds to transmit only one copy of a proxy statement, annual report or semi-annual report to shareholders (who need not be related) with the same residential, commercial or electronic address, provided that the shareholders have consented in writing and the reports are addressed either to each shareholder individually or to the shareholders as a group. This process is known as "householding" and is designed to reduce the duplicate copies of materials that shareholders receive and to lower printing and mailing costs for funds. Once implemented, if you would like to discontinue householding for your accounts, please call toll-free at 866-348-6466 to request individual copies of these documents. Once the Fund receives notice to stop householding, we will begin sending individual copies 30 days after receiving your request.

## Catholic Responsible Investments Funds

## Catholic Responsible Investments Magnus 45/55 Fund / Investor Class Shares - CMNVX

## Annual Shareholder Report: October 31, 2025

## CMNVX-AR-2025
![Image](i3df3b53a8605bb989d71f11d.jpg)

# Catholic Responsible Investments Funds
![Image](i3df3b53a8605bb989d71f11d.jpg)

## Catholic Responsible Investments Magnus 60/40 Alpha Plus Fund

#### Institutional Class Shares - CMPSX

## Annual Shareholder Report: October 31, 2025
This annual shareholder report contains important information about Institutional Class Shares of the Catholic Responsible Investments Magnus 60/40 Alpha Plus Fund (the "Fund") for the period from November 1, 2024 to October 31, 2025. You can find additional information about the Fund at https://cbisonline.com/us/legal-financial/. You can also request this information by contacting us at 866-348-6466.

## What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| <u>Fund Name</u> | <u>Costs of a $10,000 investment</u> | <u>Costs paid as a percentage of a $10,000 investment</u> |
| Catholic Responsible Investments Magnus 60/40 Alpha Plus Fund, Institutional Class Shares | $2 | 0.02%<sup>Footnote Reference†</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>†</sup> | &nbsp;&nbsp;The expense ratios do not include expenses of the underlying affiliated investment companies. |

---

## How did the Fund perform in the last year?
The Fund seeks to achieve current income and long-term capital appreciation.

The Fund is a "fund of funds," meaning that it seeks to achieve its objective by investing in other Catholic Responsible Investments Funds mutual funds (the "Underlying Funds") that represent a variety of asset classes and investment styles. The Fund's asset allocation strategy emphasizes investments in equity securities (and certain other instruments described below) in an amount equal to 60% of its assets and exposure to fixed income securities in an amount equal to 40% of its assets, with a bias towards "active" management in the equity portion of the portfolio. The portfolios of the Magnus 60/40 Beta Plus Fund and the Magnus 60/40 Alpha Plus Fund reflect the same allocation to stocks and fixed-income securities, but the Magnus 60/40 Beta Plus Fund is more heavily allocated to Underlying Funds that use a "passive" management strategy, and the Magnus 60/40 Alpha Plus Fund is more heavily allocated to Underlying Funds that use an "active" management strategy. Under normal circumstances, the Fund does not make direct investments into assets other than the underlying Catholic Responsible Investments Funds indicated in the chart below, government securities and short-term paper.

CRI Magnus 60/40 Alpha Plus Fund Review

Global markets delivered strong performance over the fiscal year, despite periods of heightened volatility. Market fluctuations were driven by shifts in monetary policy, evolving tariff expectations, and ongoing trade negotiations influenced by U.S. policy. Geopolitical tensions in the Middle East added further uncertainty to the economic landscape.

Yet, resilience remained a defining feature of global markets. Investor confidence held firm, supported by adaptive strategies and diversified growth across regions. Notably, the Federal Reserve began cutting interest rates in the third and fourth quarters, even as inflationary pressures persisted. This policy pivot underscored the balancing act between sustaining economic momentum and managing price stability.

The Fund's fiscal year performance was positive from an absolute standpoint, however lagged its custom benchmark, due to style selection which was negative and driven by domestic small-caps, followed by short duration fixed income. Active management was negative, driven by large cap international exposure and the tactical allocation was near flat.

## How did the Fund perform since inception?

## Total Return Based on $15,000,000 Investment
![Growth of 10K Chart](i46f042ab61ce81c5b3fc1386.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | Catholic Responsible Investments Magnus 60/40 Alpha Plus Fund, Institutional Class Shares | MSCI ACWI Index (USD) (TR)<sup>Footnote Reference\*</sup><sup>Footnote Reference†</sup> | Bloomberg U.S. Aggregate Bond Index (USD) (TR)<sup>Footnote Reference†</sup> | Custom Hybrid<sup>Footnote Reference‡</sup> |
| Dec/21 | $15000000 | $15000000 | $15000000 | $15000000 |
| Oct/22 | $12653262 | $12393397 | $12569098 | $12612117 |
| Oct/23 | $13441678 | $13763749 | $12613839 | $13357029 |
| Oct/24 | $16502571 | $18361040 | $13944128 | $16630742 |
| Oct/25 | $18752921 | $22618243 | $14802965 | $19232685 |

---

Since its inception on December 6, 2021. The line graph represents historical performance of a hypothetical investment of $15,000,000 in the Fund since inception. Returns shown are total returns, which assume the reinvestment of dividends and capital gains. The table and graph presented above do not reflect the deduction of taxes a shareholder would pay on Fund distributions or the redemption of Fund shares. Past performance is not indicative of future performance.Call 866-348-6466 or visit https://cbisonline.com/us/catholic-responsible-investing/performance/ for current month-end performance.

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;ACWI – All Country World Index |
| &nbsp;&nbsp;Footnote<sup>†</sup> | &nbsp;&nbsp;Total Return (TR) - Reflects no deductions for fees, expenses or taxes. |
| &nbsp;&nbsp;Footnote<sup>‡</sup> | &nbsp;&nbsp;The Custom Benchmark is a blended benchmark composed of 40% of the Bloomberg U.S. Aggregate Bond Index, 45% of the Russell 3000<sup>®</sup> Index, and 15% of the MSCI ACWI ex-US Index. |

---

## Average Annual Total Returns as of October 31, 2025

---

| | | |
|:---|:---|:---|
| <u>Fund/Index Name</u> | <u>1 Year</u> | <u>Annualized Since Inception</u> |
| Catholic Responsible Investments Magnus 60/40 Alpha Plus Fund, Institutional Class Shares | 13.64% | 5.87% |
| MSCI ACWI Index (USD) (TR)<sup>Footnote Reference\*</sup><sup>Footnote Reference†</sup> | 23.19% | 11.07% |
| Bloomberg U.S. Aggregate Bond Index (USD) (TR)<sup>Footnote Reference†</sup> | 6.16% | -0.34% |
| Custom Hybrid<sup>Footnote Reference‡</sup> | 15.65% | 6.56% |

---

## Key Fund Statistics as of October 31, 2025

---

| | | |
|:---|:---|:---|
| <u>Total Net Assets</u> | <u>Total Advisory Fees Paid</u> | <u>Portfolio Turnover Rate</u> |
| $1534089383<sub>8</sub> | $- | 11% |

---

## What did the Fund invest in?

### Sector Weightings<sup>Footnote Reference \*</sup>
![Holdings Chart](i16cd89291b68f7a0f3dc6205.jpg)

---

| | |
|:---|:---|
| Value | Value.1 |
| Open-End Mutual Funds | 99.9% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Percentages are calculated based on total net assets. |

---

### Top Holdings

---

| | |
|:---|:---|
| <u>Holding Name</u> | <u>Percentage of Total Net Assets</u> |
| Catholic Responsible Investments Multi-Style US Equity Fund, Cl Institutional Shares<sup>Footnote Reference\*\*</sup> | 24.4% |
| Catholic Responsible Investments Bond Fund, Cl Institutional Shares<sup>Footnote Reference\*\*</sup> | 19.7% |
| Catholic Responsible Investments Equity Index Fund, Cl Institutional Shares<sup>Footnote Reference\*\*</sup> | 15.6% |
| Catholic Responsible Investments International Equity Fund, Cl Institutional Shares<sup>Footnote Reference\*\*</sup> | 12.0% |
| Catholic Responsible Investments Opportunistic Bond Fund, Cl Institutional Shares<sup>Footnote Reference\*\*</sup> | 9.7% |
| Catholic Responsible Investments Short Duration Bond Fund, Cl Institutional Shares<sup>Footnote Reference\*\*</sup> | 9.7% |
| Catholic Responsible Investments Small-Cap Fund, Cl Institutional Shares<sup>Footnote Reference\*\*</sup> | 6.0% |
| Catholic Responsible Investments International Small-Cap Fund, Cl Institutional Shares<sup>Footnote Reference\*\*</sup> | 2.9% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*\*</sup> | &nbsp;&nbsp;Affiliated Investment |

---

## Material Fund Changes
There were no material changes during the reporting period.

## Changes in and Disagreements with Accountants
There were no changes in or disagreements with accountants during the reporting period.

## Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information, call or visit:

* 866-348-6466 

* https://cbisonline.com/us/legal-financial/ 

## Householding
Rule 30e-1 of the Investment Company Act of 1940 permits funds to transmit only one copy of a proxy statement, annual report or semi-annual report to shareholders (who need not be related) with the same residential, commercial or electronic address, provided that the shareholders have consented in writing and the reports are addressed either to each shareholder individually or to the shareholders as a group. This process is known as "householding" and is designed to reduce the duplicate copies of materials that shareholders receive and to lower printing and mailing costs for funds. Once implemented, if you would like to discontinue householding for your accounts, please call toll-free at 866-348-6466 to request individual copies of these documents. Once the Fund receives notice to stop householding, we will begin sending individual copies 30 days after receiving your request.

## Catholic Responsible Investments Funds

## Catholic Responsible Investments Magnus 60/40 Alpha Plus Fund / Institutional Class Shares - CMPSX

## Annual Shareholder Report: October 31, 2025

## CMPSX-AR-2025
![Image](i3df3b53a8605bb989d71f11d.jpg)

# Catholic Responsible Investments Funds
![Image](i3df3b53a8605bb989d71f11d.jpg)

## Catholic Responsible Investments Magnus 60/40 Alpha Plus Fund

#### Investor Class Shares - CMPVX

## Annual Shareholder Report: October 31, 2025
This annual shareholder report contains important information about Investor Class Shares of the Catholic Responsible Investments Magnus 60/40 Alpha Plus Fund (the "Fund") for the period from November 1, 2024 to October 31, 2025. You can find additional information about the Fund at https://cbisonline.com/us/legal-financial/. You can also request this information by contacting us at 866-348-6466.

## What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| <u>Fund Name</u> | <u>Costs of a $10,000 investment</u> | <u>Costs paid as a percentage of a $10,000 investment</u> |
| Catholic Responsible Investments Magnus 60/40 Alpha Plus Fund, Investor Class Shares | $18 | 0.17%<sup>Footnote Reference†</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>†</sup> | &nbsp;&nbsp;The expense ratios do not include expenses of the underlying affiliated investment companies. |

---

## How did the Fund perform in the last year?
The Fund seeks to achieve current income and long-term capital appreciation.

The Fund is a "fund of funds," meaning that it seeks to achieve its objective by investing in other Catholic Responsible Investments Funds mutual funds (the "Underlying Funds") that represent a variety of asset classes and investment styles. The Fund's asset allocation strategy emphasizes investments in equity securities (and certain other instruments described below) in an amount equal to 60% of its assets and exposure to fixed income securities in an amount equal to 40% of its assets, with a bias towards "active" management in the equity portion of the portfolio. The portfolios of the Magnus 60/40 Beta Plus Fund and the Magnus 60/40 Alpha Plus Fund reflect the same allocation to stocks and fixed-income securities, but the Magnus 60/40 Beta Plus Fund is more heavily allocated to Underlying Funds that use a "passive" management strategy, and the Magnus 60/40 Alpha Plus Fund is more heavily allocated to Underlying Funds that use an "active" management strategy. Under normal circumstances, the Fund does not make direct investments into assets other than the underlying Catholic Responsible Investments Funds indicated in the chart below, government securities and short-term paper.

CRI Magnus 60/40 Alpha Plus Fund Review

Global markets delivered strong performance over the fiscal year, despite periods of heightened volatility. Market fluctuations were driven by shifts in monetary policy, evolving tariff expectations, and ongoing trade negotiations influenced by U.S. policy. Geopolitical tensions in the Middle East added further uncertainty to the economic landscape.

Yet, resilience remained a defining feature of global markets. Investor confidence held firm, supported by adaptive strategies and diversified growth across regions. Notably, the Federal Reserve began cutting interest rates in the third and fourth quarters, even as inflationary pressures persisted. This policy pivot underscored the balancing act between sustaining economic momentum and managing price stability.

The Fund's fiscal year performance was positive from an absolute standpoint, however lagged its custom benchmark, due to style selection which was negative and driven by domestic small-caps, followed by short duration fixed income. Active management was negative, driven by large cap international exposure and the tactical allocation was near flat.

## How did the Fund perform since inception?

## Total Return Based on $10,000 Investment
![Growth of 10K Chart](i5489bf4d8437f9c428779d72.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | Catholic Responsible Investments Magnus 60/40 Alpha Plus Fund, Investor Class Shares | MSCI ACWI Index (USD) (TR)<sup>Footnote Reference\*</sup><sup>Footnote Reference†</sup> | Bloomberg U.S. Aggregate Bond Index (USD) (TR)<sup>Footnote Reference†</sup> | Custom Hybrid<sup>Footnote Reference‡</sup> |
| Dec/21 | $10000 | $10000 | $10000 | $10000 |
| Oct/22 | $8424 | $8262 | $8379 | $8408 |
| Oct/23 | $8935 | $9176 | $8409 | $8905 |
| Oct/24 | $10954 | $12241 | $9296 | $11087 |
| Oct/25 | $12429 | $15079 | $9869 | $12822 |

---

Since its inception on December 6, 2021. The line graph represents historical performance of a hypothetical investment of $10,000 in the Fund since inception. Returns shown are total returns, which assume the reinvestment of dividends and capital gains. The table and graph presented above do not reflect the deduction of taxes a shareholder would pay on Fund distributions or the redemption of Fund shares. Past performance is not indicative of future performance.Call 866-348-6466 or visit https://cbisonline.com/us/catholic-responsible-investing/performance/ for current month-end performance.

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;ACWI – All Country World Index |
| &nbsp;&nbsp;Footnote<sup>†</sup> | &nbsp;&nbsp;Total Return (TR) - Reflects no deductions for fees, expenses or taxes. |
| &nbsp;&nbsp;Footnote<sup>‡</sup> | &nbsp;&nbsp;The Custom Benchmark is a blended benchmark composed of 40% of the Bloomberg U.S. Aggregate Bond Index, 45% of the Russell 3000<sup>®</sup> Index, and 15% of the MSCI ACWI ex-US Index. |

---

## Average Annual Total Returns as of October 31, 2025

---

| | | |
|:---|:---|:---|
| <u>Fund/Index Name</u> | <u>1 Year</u> | <u>Annualized Since Inception</u> |
| Catholic Responsible Investments Magnus 60/40 Alpha Plus Fund, Investor Class Shares | 13.47% | 5.72% |
| MSCI ACWI Index (USD) (TR)<sup>Footnote Reference\*</sup><sup>Footnote Reference†</sup> | 23.19% | 11.07% |
| Bloomberg U.S. Aggregate Bond Index (USD) (TR)<sup>Footnote Reference†</sup> | 6.16% | -0.34% |
| Custom Hybrid<sup>Footnote Reference‡</sup> | 15.65% | 6.56% |

---

## Key Fund Statistics as of October 31, 2025

---

| | | |
|:---|:---|:---|
| <u>Total Net Assets</u> | <u>Total Advisory Fees Paid</u> | <u>Portfolio Turnover Rate</u> |
| $1534089383<sub>8</sub> | $- | 11% |

---

## What did the Fund invest in?

### Sector Weightings<sup>Footnote Reference \*</sup>
![Holdings Chart](i16cd89291b68f7a0f3dc6205.jpg)

---

| | |
|:---|:---|
| Value | Value.1 |
| Open-End Mutual Funds | 99.9% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Percentages are calculated based on total net assets. |

---

### Top Holdings

---

| | |
|:---|:---|
| <u>Holding Name</u> | <u>Percentage of Total Net Assets</u> |
| Catholic Responsible Investments Multi-Style US Equity Fund, Cl Institutional Shares<sup>Footnote Reference\*\*</sup> | 24.4% |
| Catholic Responsible Investments Bond Fund, Cl Institutional Shares<sup>Footnote Reference\*\*</sup> | 19.7% |
| Catholic Responsible Investments Equity Index Fund, Cl Institutional Shares<sup>Footnote Reference\*\*</sup> | 15.6% |
| Catholic Responsible Investments International Equity Fund, Cl Institutional Shares<sup>Footnote Reference\*\*</sup> | 12.0% |
| Catholic Responsible Investments Opportunistic Bond Fund, Cl Institutional Shares<sup>Footnote Reference\*\*</sup> | 9.7% |
| Catholic Responsible Investments Short Duration Bond Fund, Cl Institutional Shares<sup>Footnote Reference\*\*</sup> | 9.7% |
| Catholic Responsible Investments Small-Cap Fund, Cl Institutional Shares<sup>Footnote Reference\*\*</sup> | 6.0% |
| Catholic Responsible Investments International Small-Cap Fund, Cl Institutional Shares<sup>Footnote Reference\*\*</sup> | 2.9% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*\*</sup> | &nbsp;&nbsp;Affiliated Investment |

---

## Material Fund Changes
There were no material changes during the reporting period.

## Changes in and Disagreements with Accountants
There were no changes in or disagreements with accountants during the reporting period.

## Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information, call or visit:

* 866-348-6466 

* https://cbisonline.com/us/legal-financial/ 

## Householding
Rule 30e-1 of the Investment Company Act of 1940 permits funds to transmit only one copy of a proxy statement, annual report or semi-annual report to shareholders (who need not be related) with the same residential, commercial or electronic address, provided that the shareholders have consented in writing and the reports are addressed either to each shareholder individually or to the shareholders as a group. This process is known as "householding" and is designed to reduce the duplicate copies of materials that shareholders receive and to lower printing and mailing costs for funds. Once implemented, if you would like to discontinue householding for your accounts, please call toll-free at 866-348-6466 to request individual copies of these documents. Once the Fund receives notice to stop householding, we will begin sending individual copies 30 days after receiving your request.

## Catholic Responsible Investments Funds

## Catholic Responsible Investments Magnus 60/40 Alpha Plus Fund / Investor Class Shares - CMPVX

## Annual Shareholder Report: October 31, 2025

## CMPVX-AR-2025
![Image](i3df3b53a8605bb989d71f11d.jpg)

# Catholic Responsible Investments Funds
![Image](i3df3b53a8605bb989d71f11d.jpg)

## Catholic Responsible Investments Magnus 60/40 Beta Plus Fund

#### Institutional Class Shares - CMMSX

## Annual Shareholder Report: October 31, 2025
This annual shareholder report contains important information about Institutional Class Shares of the Catholic Responsible Investments Magnus 60/40 Beta Plus Fund (the "Fund") for the period from November 1, 2024 to October 31, 2025. You can find additional information about the Fund at https://cbisonline.com/us/legal-financial/. You can also request this information by contacting us at 866-348-6466.

## What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| <u>Fund Name</u> | <u>Costs of a $10,000 investment</u> | <u>Costs paid as a percentage of a $10,000 investment</u> |
| Catholic Responsible Investments Magnus 60/40 Beta Plus Fund, Institutional Class Shares | $2 | 0.02%<sup>Footnote Reference†</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>†</sup> | &nbsp;&nbsp;The expense ratios do not include expenses of the underlying affiliated investment companies. |

---

## How did the Fund perform in the last year?
The Fund seeks to achieve current income and long-term capital appreciation.

The Fund is a "fund of funds," meaning that it seeks to achieve its objective by investing in other Catholic Responsible Investments Funds mutual funds (the "Underlying Funds") that represent a variety of asset classes and investment styles. The Fund's asset allocation strategy emphasizes investments in equity securities (and certain other instruments described below) in an amount equal to 60% of its assets and exposure to fixed income securities in an amount equal to 40% of its assets, with a bias towards "passive" management in the equity portion of the portfolio. The portfolios of the Magnus 60/40 Beta Plus Fund and the Magnus 60/40 Alpha Plus Fund reflect the same allocation to stocks and fixed-income securities, but the Magnus 60/40 Beta Plus Fund is more heavily allocated to Underlying Funds that use a "passive" management strategy, and the Magnus 60/40 Alpha Plus Fund is more heavily allocated to Underlying Funds that use an "active" management strategy. Under normal circumstances, the Fund does not make direct investments into assets other than the underlying Catholic Responsible Investments Funds indicated in the chart below, government securities and short-term paper.

CRI Magnus 60/40 Beta Plus Fund Review

Global markets delivered strong performance over the fiscal year, despite periods of heightened volatility. Market fluctuations were driven by shifts in monetary policy, evolving tariff expectations, and ongoing trade negotiations influenced by U.S. policy. Geopolitical tensions in the Middle East added further uncertainty to the economic landscape.

Yet, resilience remained a defining feature of global markets. Investor confidence held firm, supported by adaptive strategies and diversified growth across regions. Notably, the Federal Reserve began cutting interest rates in the third and fourth quarters, even as inflationary pressures persisted. This policy pivot underscored the balancing act between sustaining economic momentum and managing price stability.

The Fund's fiscal year performance was positive from an absolute standpoint, however lagged its custom benchmark, due to style a selection effect that was negative driven largely by domestic small cap, followed by short duration fixed income. Active management effective was negative, driven largely by large cap international equity exposure and tactical allocation effect was negative.

## How did the Fund perform since inception?

## Total Return Based on $15,000,000 Investment
![Growth of 10K Chart](i35eadc6c0afedeb90a7af68b.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | Catholic Responsible Investments Magnus 60/40 Beta Plus Fund, Institutional Class Shares | MSCI ACWI Index (USD) (TR)<sup>Footnote Reference\*</sup><sup>Footnote Reference†</sup> | Bloomberg U.S. Aggregate Bond Index (USD) (TR)<sup>Footnote Reference†</sup> | Custom Hybrid<sup>Footnote Reference‡</sup> |
| Dec/21 | $15000000 | $15000000 | $15000000 | $15000000 |
| Oct/22 | $12830924 | $12393397 | $12569098 | $12612117 |
| Oct/23 | $13598974 | $13763749 | $12613839 | $13357029 |
| Oct/24 | $16851842 | $18361040 | $13944128 | $16630742 |
| Oct/25 | $19245911 | $22618243 | $14802965 | $19232685 |

---

Since its inception on December 6, 2021. The line graph represents historical performance of a hypothetical investment of $15,000,000 in the Fund since inception. Returns shown are total returns, which assume the reinvestment of dividends and capital gains. The table and graph presented above do not reflect the deduction of taxes a shareholder would pay on Fund distributions or the redemption of Fund shares. Past performance is not indicative of future performance.Call 866-348-6466 or visit https://cbisonline.com/us/catholic-responsible-investing/performance/ for current month-end performance.

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;ACWI – All Country World Index |
| &nbsp;&nbsp;Footnote<sup>†</sup> | &nbsp;&nbsp;Total Return (TR) - Reflects no deductions for fees, expenses or taxes. |
| &nbsp;&nbsp;Footnote<sup>‡</sup> | &nbsp;&nbsp;The Custom Benchmark is a blended benchmark composed of 40% of the Bloomberg U.S. Aggregate Bond Index, 45% of the Russell 3000<sup>®</sup> Index, and 15% of the MSCI ACWI ex-US Index. |

---

## Average Annual Total Returns as of October 31, 2025

---

| | | |
|:---|:---|:---|
| <u>Fund/Index Name</u> | <u>1 Year</u> | <u>Annualized Since Inception</u> |
| Catholic Responsible Investments Magnus 60/40 Beta Plus Fund, Institutional Class Shares | 14.21% | 6.58% |
| MSCI ACWI Index (USD) (TR)<sup>Footnote Reference\*</sup><sup>Footnote Reference†</sup> | 23.19% | 11.07% |
| Bloomberg U.S. Aggregate Bond Index (USD) (TR)<sup>Footnote Reference†</sup> | 6.16% | -0.34% |
| Custom Hybrid<sup>Footnote Reference‡</sup> | 15.65% | 6.56% |

---

## Key Fund Statistics as of October 31, 2025

---

| | | |
|:---|:---|:---|
| <u>Total Net Assets</u> | <u>Total Advisory Fees Paid</u> | <u>Portfolio Turnover Rate</u> |
| $670879520<sub>7</sub> | $- | 12% |

---

## What did the Fund invest in?

### Sector Weightings<sup>Footnote Reference \*</sup>
![Holdings Chart](i16cd89291b68f7a0f3dc6205.jpg)

---

| | |
|:---|:---|
| Value | Value.1 |
| Open-End Mutual Funds | 99.9% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Percentages are calculated based on total net assets. |

---

### Top Holdings

---

| | |
|:---|:---|
| <u>Holding Name</u> | <u>Percentage of Total Net Assets</u> |
| Catholic Responsible Investments Equity Index Fund, Cl Institutional Shares<sup>Footnote Reference\*\*</sup> | 40.3% |
| Catholic Responsible Investments Bond Fund, Cl Institutional Shares<sup>Footnote Reference\*\*</sup> | 19.6% |
| Catholic Responsible Investments International Equity Fund, Cl Institutional Shares<sup>Footnote Reference\*\*</sup> | 11.9% |
| Catholic Responsible Investments Opportunistic Bond Fund, Cl Institutional Shares<sup>Footnote Reference\*\*</sup> | 9.7% |
| Catholic Responsible Investments Short Duration Bond Fund, Cl Institutional Shares<sup>Footnote Reference\*\*</sup> | 9.7% |
| Catholic Responsible Investments Small-Cap Fund, Cl Institutional Shares<sup>Footnote Reference\*\*</sup> | 5.9% |
| Catholic Responsible Investments International Small-Cap Fund, Cl Institutional Shares<sup>Footnote Reference\*\*</sup> | 2.9% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*\*</sup> | &nbsp;&nbsp;Affiliated Investment |

---

## Material Fund Changes
There were no material changes during the reporting period.

## Changes in and Disagreements with Accountants
There were no changes in or disagreements with accountants during the reporting period.

## Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information, call or visit:

* 866-348-6466 

* https://cbisonline.com/us/legal-financial/ 

## Householding
Rule 30e-1 of the Investment Company Act of 1940 permits funds to transmit only one copy of a proxy statement, annual report or semi-annual report to shareholders (who need not be related) with the same residential, commercial or electronic address, provided that the shareholders have consented in writing and the reports are addressed either to each shareholder individually or to the shareholders as a group. This process is known as "householding" and is designed to reduce the duplicate copies of materials that shareholders receive and to lower printing and mailing costs for funds. Once implemented, if you would like to discontinue householding for your accounts, please call toll-free at 866-348-6466 to request individual copies of these documents. Once the Fund receives notice to stop householding, we will begin sending individual copies 30 days after receiving your request.

## Catholic Responsible Investments Funds

## Catholic Responsible Investments Magnus 60/40 Beta Plus Fund / Institutional Class Shares - CMMSX

## Annual Shareholder Report: October 31, 2025

## CMMSX-AR-2025
![Image](i3df3b53a8605bb989d71f11d.jpg)

# Catholic Responsible Investments Funds
![Image](i3df3b53a8605bb989d71f11d.jpg)

## Catholic Responsible Investments Magnus 60/40 Beta Plus Fund

#### Investor Class Shares - CMMVX

## Annual Shareholder Report: October 31, 2025
This annual shareholder report contains important information about Investor Class Shares of the Catholic Responsible Investments Magnus 60/40 Beta Plus Fund (the "Fund") for the period from November 1, 2024 to October 31, 2025. You can find additional information about the Fund at https://cbisonline.com/us/legal-financial/. You can also request this information by contacting us at 866-348-6466.

## What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| <u>Fund Name</u> | <u>Costs of a $10,000 investment</u> | <u>Costs paid as a percentage of a $10,000 investment</u> |
| Catholic Responsible Investments Magnus 60/40 Beta Plus Fund, Investor Class Shares | $18 | 0.17%<sup>Footnote Reference†</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>†</sup> | &nbsp;&nbsp;The expense ratios do not include expenses of the underlying affiliated investment companies. |

---

## How did the Fund perform in the last year?
The Fund seeks to achieve current income and long-term capital appreciation.

The Fund is a "fund of funds," meaning that it seeks to achieve its objective by investing in other Catholic Responsible Investments Funds mutual funds (the "Underlying Funds") that represent a variety of asset classes and investment styles. The Fund's asset allocation strategy emphasizes investments in equity securities (and certain other instruments described below) in an amount equal to 60% of its assets and exposure to fixed income securities in an amount equal to 40% of its assets, with a bias towards "passive" management in the equity portion of the portfolio. The portfolios of the Magnus 60/40 Beta Plus Fund and the Magnus 60/40 Alpha Plus Fund reflect the same allocation to stocks and fixed-income securities, but the Magnus 60/40 Beta Plus Fund is more heavily allocated to Underlying Funds that use a "passive" management strategy, and the Magnus 60/40 Alpha Plus Fund is more heavily allocated to Underlying Funds that use an "active" management strategy. Under normal circumstances, the Fund does not make direct investments into assets other than the underlying Catholic Responsible Investments Funds indicated in the chart below, government securities and short-term paper.

CRI Magnus 60/40 Beta Plus Fund Review

Global markets delivered strong performance over the fiscal year, despite periods of heightened volatility. Market fluctuations were driven by shifts in monetary policy, evolving tariff expectations, and ongoing trade negotiations influenced by U.S. policy. Geopolitical tensions in the Middle East added further uncertainty to the economic landscape.

Yet, resilience remained a defining feature of global markets. Investor confidence held firm, supported by adaptive strategies and diversified growth across regions. Notably, the Federal Reserve began cutting interest rates in the third and fourth quarters, even as inflationary pressures persisted. This policy pivot underscored the balancing act between sustaining economic momentum and managing price stability.

The Fund's fiscal year performance was positive from an absolute standpoint, however lagged its custom benchmark, due to style a selection effect that was negative driven largely by domestic small cap, followed by short duration fixed income. Active management effective was negative, driven largely by large cap international equity exposure and tactical allocation effect was negative.

## How did the Fund perform since inception?

## Total Return Based on $10,000 Investment
![Growth of 10K Chart](ie7c8b87eef16a8833e819c30.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | Catholic Responsible Investments Magnus 60/40 Beta Plus Fund, Investor Class Shares | MSCI ACWI Index (USD) (TR)<sup>Footnote Reference\*</sup><sup>Footnote Reference†</sup> | Bloomberg U.S. Aggregate Bond Index (USD) (TR)<sup>Footnote Reference†</sup> | Custom Hybrid<sup>Footnote Reference‡</sup> |
| Dec/21 | $10000 | $10000 | $10000 | $10000 |
| Oct/22 | $8542 | $8262 | $8379 | $8408 |
| Oct/23 | $9041 | $9176 | $8409 | $8905 |
| Oct/24 | $11188 | $12241 | $9296 | $11087 |
| Oct/25 | $12758 | $15079 | $9869 | $12822 |

---

Since its inception on December 6, 2021. The line graph represents historical performance of a hypothetical investment of $10,000 in the Fund since inception. Returns shown are total returns, which assume the reinvestment of dividends and capital gains. The table and graph presented above do not reflect the deduction of taxes a shareholder would pay on Fund distributions or the redemption of Fund shares. Past performance is not indicative of future performance.Call 866-348-6466 or visit https://cbisonline.com/us/catholic-responsible-investing/performance/ for current month-end performance.

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;ACWI – All Country World Index |
| &nbsp;&nbsp;Footnote<sup>†</sup> | &nbsp;&nbsp;Total Return (TR) - Reflects no deductions for fees, expenses or taxes. |
| &nbsp;&nbsp;Footnote<sup>‡</sup> | &nbsp;&nbsp;The Custom Benchmark is a blended benchmark composed of 40% of the Bloomberg U.S. Aggregate Bond Index, 45% of the Russell 3000<sup>®</sup> Index, and 15% of the MSCI ACWI ex-US Index. |

---

## Average Annual Total Returns as of October 31, 2025

---

| | | |
|:---|:---|:---|
| <u>Fund/Index Name</u> | <u>1 Year</u> | <u>Annualized Since Inception</u> |
| Catholic Responsible Investments Magnus 60/40 Beta Plus Fund, Investor Class Shares | 14.03% | 6.42% |
| MSCI ACWI Index (USD) (TR)<sup>Footnote Reference\*</sup><sup>Footnote Reference†</sup> | 23.19% | 11.07% |
| Bloomberg U.S. Aggregate Bond Index (USD) (TR)<sup>Footnote Reference†</sup> | 6.16% | -0.34% |
| Custom Hybrid<sup>Footnote Reference‡</sup> | 15.65% | 6.56% |

---

## Key Fund Statistics as of October 31, 2025

---

| | | |
|:---|:---|:---|
| <u>Total Net Assets</u> | <u>Total Advisory Fees Paid</u> | <u>Portfolio Turnover Rate</u> |
| $670879520<sub>7</sub> | $- | 12% |

---

## What did the Fund invest in?

### Sector Weightings<sup>Footnote Reference \*</sup>
![Holdings Chart](i16cd89291b68f7a0f3dc6205.jpg)

---

| | |
|:---|:---|
| Value | Value.1 |
| Open-End Mutual Funds | 99.9% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Percentages are calculated based on total net assets. |

---

### Top Holdings

---

| | |
|:---|:---|
| <u>Holding Name</u> | <u>Percentage of Total Net Assets</u> |
| Catholic Responsible Investments Equity Index Fund, Cl Institutional Shares<sup>Footnote Reference\*\*</sup> | 40.3% |
| Catholic Responsible Investments Bond Fund, Cl Institutional Shares<sup>Footnote Reference\*\*</sup> | 19.6% |
| Catholic Responsible Investments International Equity Fund, Cl Institutional Shares<sup>Footnote Reference\*\*</sup> | 11.9% |
| Catholic Responsible Investments Opportunistic Bond Fund, Cl Institutional Shares<sup>Footnote Reference\*\*</sup> | 9.7% |
| Catholic Responsible Investments Short Duration Bond Fund, Cl Institutional Shares<sup>Footnote Reference\*\*</sup> | 9.7% |
| Catholic Responsible Investments Small-Cap Fund, Cl Institutional Shares<sup>Footnote Reference\*\*</sup> | 5.9% |
| Catholic Responsible Investments International Small-Cap Fund, Cl Institutional Shares<sup>Footnote Reference\*\*</sup> | 2.9% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*\*</sup> | &nbsp;&nbsp;Affiliated Investment |

---

## Material Fund Changes
There were no material changes during the reporting period.

## Changes in and Disagreements with Accountants
There were no changes in or disagreements with accountants during the reporting period.

## Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information, call or visit:

* 866-348-6466 

* https://cbisonline.com/us/legal-financial/ 

## Householding
Rule 30e-1 of the Investment Company Act of 1940 permits funds to transmit only one copy of a proxy statement, annual report or semi-annual report to shareholders (who need not be related) with the same residential, commercial or electronic address, provided that the shareholders have consented in writing and the reports are addressed either to each shareholder individually or to the shareholders as a group. This process is known as "householding" and is designed to reduce the duplicate copies of materials that shareholders receive and to lower printing and mailing costs for funds. Once implemented, if you would like to discontinue householding for your accounts, please call toll-free at 866-348-6466 to request individual copies of these documents. Once the Fund receives notice to stop householding, we will begin sending individual copies 30 days after receiving your request.

## Catholic Responsible Investments Funds

## Catholic Responsible Investments Magnus 60/40 Beta Plus Fund / Investor Class Shares - CMMVX

## Annual Shareholder Report: October 31, 2025

## CMMVX-AR-2025
![Image](i3df3b53a8605bb989d71f11d.jpg)

# Catholic Responsible Investments Funds
![Image](i3df3b53a8605bb989d71f11d.jpg)

## Catholic Responsible Investments Magnus 75/25 Fund

#### Institutional Class Shares - CMUSX

## Annual Shareholder Report: October 31, 2025
This annual shareholder report contains important information about Institutional Class Shares of the Catholic Responsible Investments Magnus 75/25 Fund (the "Fund") for the period from November 1, 2024 to October 31, 2025. You can find additional information about the Fund at https://cbisonline.com/us/legal-financial/. You can also request this information by contacting us at 866-348-6466.

## What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| <u>Fund Name</u> | <u>Costs of a $10,000 investment</u> | <u>Costs paid as a percentage of a $10,000 investment</u> |
| Catholic Responsible Investments Magnus 75/25 Fund, Institutional Class Shares | $2 | 0.02%<sup>Footnote Reference†</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>†</sup> | &nbsp;&nbsp;The expense ratios do not include expenses of the underlying affiliated investment companies. |

---

## How did the Fund perform in the last year?
The Fund seeks to achieve current income and long-term capital appreciation.

The Fund is a "fund of funds," meaning that it seeks to achieve its objective by investing in other Catholic Responsible Investments Funds mutual funds (the "Underlying Funds") that represent a variety of asset classes and investment styles. The Fund's asset allocation strategy emphasizes investments in equity securities (and certain other instruments described below) in an amount equal to 75% of its assets and exposure to fixed income securities in an amount equal to 25% of its assets. Under normal circumstances, the Fund does not make direct investments into assets other than the underlying Catholic Responsible Investments Funds indicated in the chart below, government securities and short-term paper.

CRI Magnus 75/25 Fund Review

Global markets delivered strong performance over the fiscal year, despite periods of heightened volatility. Market fluctuations were driven by shifts in monetary policy, evolving tariff expectations, and ongoing trade negotiations influenced by U.S. policy. Geopolitical tensions in the Middle East added further uncertainty to the economic landscape.

Yet, resilience remained a defining feature of global markets. Investor confidence held firm, supported by adaptive strategies and diversified growth across regions. Notably, the Federal Reserve began cutting interest rates in the third and fourth quarters, even as inflationary pressures persisted. This policy pivot underscored the balancing act between sustaining economic momentum and managing price stability.

The Fund's fiscal year performance was positive from an absolute standpoint; however lagged its custom benchmark, due to style selection followed by active management, which was negative driven largely by domestic small cap exposure. Active management effective was negative, largely driven by large cap international exposure and tactical allocation effect was also a detractor.

## How did the Fund perform since inception?

## Total Return Based on $15,000,000 Investment
![Growth of 10K Chart](i6a00da2bd9df45bbdd4e3319.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | Catholic Responsible Investments Magnus 75/25 Fund, Institutional Class Shares | MSCI ACWI Index (USD) (TR)<sup>Footnote Reference\*</sup><sup>Footnote Reference†</sup> | Bloomberg U.S. Aggregate Bond Index (USD) (TR)<sup>Footnote Reference†</sup> | Custom Hybrid<sup>Footnote Reference‡</sup> |
| Dec/21 | $15000000 | $15000000 | $15000000 | $15000000 |
| Oct/22 | $12604026 | $12393397 | $12569098 | $12604890 |
| Oct/23 | $13497566 | $13763749 | $12613839 | $13522025 |
| Oct/24 | $17100594 | $18361040 | $13944128 | $17336976 |
| Oct/25 | $19800506 | $22618243 | $14802965 | $20469450 |

---

Since its inception on December 6, 2021. The line graph represents historical performance of a hypothetical investment of $15,000,000 in the Fund since inception. Returns shown are total returns, which assume the reinvestment of dividends and capital gains. The table and graph presented above do not reflect the deduction of taxes a shareholder would pay on Fund distributions or the redemption of Fund shares. Past performance is not indicative of future performance.Call 866-348-6466 or visit https://cbisonline.com/us/catholic-responsible-investing/performance/ for current month-end performance.

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;ACWI – All Country World Index |
| &nbsp;&nbsp;Footnote<sup>†</sup> | &nbsp;&nbsp;Total Return (TR) - Reflects no deductions for fees, expenses or taxes. |
| &nbsp;&nbsp;Footnote<sup>‡</sup> | &nbsp;&nbsp;The Custom Benchmark is a blended benchmark composed of 25% of the Bloomberg U.S. Aggregate Bond Index, 56.25% of the Russell 3000<sup>®</sup> Index, and 18.75% of the MSCI ACWI ex-US Index. |

---

## Average Annual Total Returns as of October 31, 2025

---

| | | |
|:---|:---|:---|
| <u>Fund/Index Name</u> | <u>1 Year</u> | <u>Annualized Since Inception</u> |
| Catholic Responsible Investments Magnus 75/25 Fund, Institutional Class Shares | 15.79% | 7.35% |
| MSCI ACWI Index (USD) (TR)<sup>Footnote Reference\*</sup><sup>Footnote Reference†</sup> | 23.19% | 11.07% |
| Bloomberg U.S. Aggregate Bond Index (USD) (TR)<sup>Footnote Reference†</sup> | 6.16% | -0.34% |
| Custom Hybrid<sup>Footnote Reference‡</sup> | 18.07% | 8.27% |

---

## Key Fund Statistics as of October 31, 2025

---

| | | |
|:---|:---|:---|
| <u>Total Net Assets</u> | <u>Total Advisory Fees Paid</u> | <u>Portfolio Turnover Rate</u> |
| $171387024<sub>8</sub> | $- | 18% |

---

## What did the Fund invest in?

### Sector Weightings<sup>Footnote Reference \*</sup>
![Holdings Chart](i428ec4c0fc15cbcabd364726.jpg)

---

| | |
|:---|:---|
| Value | Value.1 |
| Open-End Mutual Funds | 99.6% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Percentages are calculated based on total net assets. |

---

### Top Holdings

---

| | |
|:---|:---|
| <u>Holding Name</u> | <u>Percentage of Total Net Assets</u> |
| Catholic Responsible Investments Equity Index Fund, Cl Institutional Shares<sup>Footnote Reference\*\*</sup> | 34.8% |
| Catholic Responsible Investments Multi-Style US Equity Fund, Cl Institutional Shares<sup>Footnote Reference\*\*</sup> | 15.1% |
| Catholic Responsible Investments International Equity Fund, Cl Institutional Shares<sup>Footnote Reference\*\*</sup> | 14.7% |
| Catholic Responsible Investments Bond Fund, Cl Institutional Shares<sup>Footnote Reference\*\*</sup> | 12.1% |
| Catholic Responsible Investments Small-Cap Fund, Cl Institutional Shares<sup>Footnote Reference\*\*</sup> | 7.3% |
| Catholic Responsible Investments Opportunistic Bond Fund, Cl Institutional Shares<sup>Footnote Reference\*\*</sup> | 6.0% |
| Catholic Responsible Investments Short Duration Bond Fund, Cl Institutional Shares<sup>Footnote Reference\*\*</sup> | 6.0% |
| Catholic Responsible Investments International Small-Cap Fund, Cl Institutional Shares<sup>Footnote Reference\*\*</sup> | 3.6% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*\*</sup> | &nbsp;&nbsp;Affiliated Investment |

---

## Material Fund Changes
There were no material changes during the reporting period.

## Changes in and Disagreements with Accountants
There were no changes in or disagreements with accountants during the reporting period.

## Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information, call or visit:

* 866-348-6466 

* https://cbisonline.com/us/legal-financial/ 

## Householding
Rule 30e-1 of the Investment Company Act of 1940 permits funds to transmit only one copy of a proxy statement, annual report or semi-annual report to shareholders (who need not be related) with the same residential, commercial or electronic address, provided that the shareholders have consented in writing and the reports are addressed either to each shareholder individually or to the shareholders as a group. This process is known as "householding" and is designed to reduce the duplicate copies of materials that shareholders receive and to lower printing and mailing costs for funds. Once implemented, if you would like to discontinue householding for your accounts, please call toll-free at 866-348-6466 to request individual copies of these documents. Once the Fund receives notice to stop householding, we will begin sending individual copies 30 days after receiving your request.

## Catholic Responsible Investments Funds

## Catholic Responsible Investments Magnus 75/25 Fund / Institutional Class Shares - CMUSX

## Annual Shareholder Report: October 31, 2025

## CMUSX-AR-2025
![Image](i3df3b53a8605bb989d71f11d.jpg)

# Catholic Responsible Investments Funds
![Image](i3df3b53a8605bb989d71f11d.jpg)

## Catholic Responsible Investments Magnus 75/25 Fund

#### Investor Class Shares - CMUVX

## Annual Shareholder Report: October 31, 2025
This annual shareholder report contains important information about Investor Class Shares of the Catholic Responsible Investments Magnus 75/25 Fund (the "Fund") for the period from November 1, 2024 to October 31, 2025. You can find additional information about the Fund at https://cbisonline.com/us/legal-financial/. You can also request this information by contacting us at 866-348-6466.

## What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| <u>Fund Name</u> | <u>Costs of a $10,000 investment</u> | <u>Costs paid as a percentage of a $10,000 investment</u> |
| Catholic Responsible Investments Magnus 75/25 Fund, Investor Class Shares | $18 | 0.17%<sup>Footnote Reference†</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>†</sup> | &nbsp;&nbsp;The expense ratios do not include expenses of the underlying affiliated investment companies. |

---

## How did the Fund perform in the last year?
The Fund seeks to achieve current income and long-term capital appreciation.

The Fund is a "fund of funds," meaning that it seeks to achieve its objective by investing in other Catholic Responsible Investments Funds mutual funds (the "Underlying Funds") that represent a variety of asset classes and investment styles. The Fund's asset allocation strategy emphasizes investments in equity securities (and certain other instruments described below) in an amount equal to 75% of its assets and exposure to fixed income securities in an amount equal to 25% of its assets. Under normal circumstances, the Fund does not make direct investments into assets other than the underlying Catholic Responsible Investments Funds indicated in the chart below, government securities and short-term paper.

CRI Magnus 75/25 Fund Review

Global markets delivered strong performance over the fiscal year, despite periods of heightened volatility. Market fluctuations were driven by shifts in monetary policy, evolving tariff expectations, and ongoing trade negotiations influenced by U.S. policy. Geopolitical tensions in the Middle East added further uncertainty to the economic landscape.

Yet, resilience remained a defining feature of global markets. Investor confidence held firm, supported by adaptive strategies and diversified growth across regions. Notably, the Federal Reserve began cutting interest rates in the third and fourth quarters, even as inflationary pressures persisted. This policy pivot underscored the balancing act between sustaining economic momentum and managing price stability.

The Fund's fiscal year performance was positive from an absolute standpoint; however lagged its custom benchmark, due to style selection followed by active management, which was negative driven largely by domestic small cap exposure. Active management effective was negative, largely driven by large cap international exposure and tactical allocation effect was also a detractor.

## How did the Fund perform since inception?

## Total Return Based on $10,000 Investment
![Growth of 10K Chart](i9afb56ea2e436e07f960dc36.jpg)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | Catholic Responsible Investments Magnus 75/25 Fund, Investor Class Shares | MSCI ACWI Index (USD) (TR)<sup>Footnote Reference\*</sup><sup>Footnote Reference†</sup> | Bloomberg U.S. Aggregate Bond Index (USD) (TR)<sup>Footnote Reference†</sup> | Custom Hybrid<sup>Footnote Reference‡</sup> |
| Dec/21 | $10000 | $10000 | $10000 | $10000 |
| Oct/22 | $8390 | $8262 | $8379 | $8403 |
| Oct/23 | $8971 | $9176 | $8409 | $9015 |
| Oct/24 | $11352 | $12241 | $9296 | $11558 |
| Oct/25 | $13121 | $15079 | $9869 | $13646 |

---

Since its inception on December 6, 2021. The line graph represents historical performance of a hypothetical investment of $10,000 in the Fund since inception. Returns shown are total returns, which assume the reinvestment of dividends and capital gains. The table and graph presented above do not reflect the deduction of taxes a shareholder would pay on Fund distributions or the redemption of Fund shares. Past performance is not indicative of future performance.Call 866-348-6466 or visit https://cbisonline.com/us/catholic-responsible-investing/performance/ for current month-end performance.

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;ACWI – All Country World Index |
| &nbsp;&nbsp;Footnote<sup>†</sup> | &nbsp;&nbsp;Total Return (TR) - Reflects no deductions for fees, expenses or taxes. |
| &nbsp;&nbsp;Footnote<sup>‡</sup> | &nbsp;&nbsp;The Custom Benchmark is a blended benchmark composed of 25% of the Bloomberg U.S. Aggregate Bond Index, 56.25% of the Russell 3000<sup>®</sup> Index, and 18.75% of the MSCI ACWI ex-US Index. |

---

## Average Annual Total Returns as of October 31, 2025

---

| | | |
|:---|:---|:---|
| <u>Fund/Index Name</u> | <u>1 Year</u> | <u>Annualized Since Inception</u> |
| Catholic Responsible Investments Magnus 75/25 Fund, Investor Class Shares | 15.59% | 7.19% |
| MSCI ACWI Index (USD) (TR)<sup>Footnote Reference\*</sup><sup>Footnote Reference†</sup> | 23.19% | 11.07% |
| Bloomberg U.S. Aggregate Bond Index (USD) (TR)<sup>Footnote Reference†</sup> | 6.16% | -0.34% |
| Custom Hybrid<sup>Footnote Reference‡</sup> | 18.07% | 8.27% |

---

## Key Fund Statistics as of October 31, 2025

---

| | | |
|:---|:---|:---|
| <u>Total Net Assets</u> | <u>Total Advisory Fees Paid</u> | <u>Portfolio Turnover Rate</u> |
| $171387024<sub>8</sub> | $- | 18% |

---

## What did the Fund invest in?

### Sector Weightings<sup>Footnote Reference \*</sup>
![Holdings Chart](i428ec4c0fc15cbcabd364726.jpg)

---

| | |
|:---|:---|
| Value | Value.1 |
| Open-End Mutual Funds | 99.6% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*</sup> | &nbsp;&nbsp;Percentages are calculated based on total net assets. |

---

### Top Holdings

---

| | |
|:---|:---|
| <u>Holding Name</u> | <u>Percentage of Total Net Assets</u> |
| Catholic Responsible Investments Equity Index Fund, Cl Institutional Shares<sup>Footnote Reference\*\*</sup> | 34.8% |
| Catholic Responsible Investments Multi-Style US Equity Fund, Cl Institutional Shares<sup>Footnote Reference\*\*</sup> | 15.1% |
| Catholic Responsible Investments International Equity Fund, Cl Institutional Shares<sup>Footnote Reference\*\*</sup> | 14.7% |
| Catholic Responsible Investments Bond Fund, Cl Institutional Shares<sup>Footnote Reference\*\*</sup> | 12.1% |
| Catholic Responsible Investments Small-Cap Fund, Cl Institutional Shares<sup>Footnote Reference\*\*</sup> | 7.3% |
| Catholic Responsible Investments Opportunistic Bond Fund, Cl Institutional Shares<sup>Footnote Reference\*\*</sup> | 6.0% |
| Catholic Responsible Investments Short Duration Bond Fund, Cl Institutional Shares<sup>Footnote Reference\*\*</sup> | 6.0% |
| Catholic Responsible Investments International Small-Cap Fund, Cl Institutional Shares<sup>Footnote Reference\*\*</sup> | 3.6% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>\*\*</sup> | &nbsp;&nbsp;Affiliated Investment |

---

## Material Fund Changes
There were no material changes during the reporting period.

## Changes in and Disagreements with Accountants
There were no changes in or disagreements with accountants during the reporting period.

## Additional Information
For additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information, call or visit:

* 866-348-6466 

* https://cbisonline.com/us/legal-financial/ 

## Householding
Rule 30e-1 of the Investment Company Act of 1940 permits funds to transmit only one copy of a proxy statement, annual report or semi-annual report to shareholders (who need not be related) with the same residential, commercial or electronic address, provided that the shareholders have consented in writing and the reports are addressed either to each shareholder individually or to the shareholders as a group. This process is known as "householding" and is designed to reduce the duplicate copies of materials that shareholders receive and to lower printing and mailing costs for funds. Once implemented, if you would like to discontinue householding for your accounts, please call toll-free at 866-348-6466 to request individual copies of these documents. Once the Fund receives notice to stop householding, we will begin sending individual copies 30 days after receiving your request.

## Catholic Responsible Investments Funds

## Catholic Responsible Investments Magnus 75/25 Fund / Investor Class Shares - CMUVX

## Annual Shareholder Report: October 31, 2025

## CMUVX-AR-2025
![Image](i3df3b53a8605bb989d71f11d.jpg)**

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

**Item 2. Code of Ethics.**

The Registrant (also referred to as the "Trust") has adopted a code of ethics that applies to the Registrant's principal executive officer, principal financial officer, controller or principal accounting officer, and any person who performs a similar function. There have been no amendments to or waivers granted to this code of ethics during the period covered by this report.

**Item 3. Audit Committee Financial Expert.**

(a)(1) The Registrant's board of trustees has determined that the Registrant has at least one audit committee financial expert serving on the audit committee.

(a)(2) The Registrant's audit committee financial expert is Robert Mulhall. Mr. Mulhall is considered to be "independent," as that term is defined in Form N-CSR Item 3(a)(2).

**Item 4. Principal Accountant Fees and Services.**

Fees billed by Cohen & Company, Ltd. ("Cohen") related to the Trust.

Cohen billed the Trust aggregate fees for services rendered to the Trust for the last two fiscal years as follows:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **2025** | **2025** | **2025** | **2024** | **2024** | **2024** |
| | | All fees and services to the Trust that were pre-approved | All fees and services to service affiliates that were pre-approved | All other fees and services to service affiliates that did not require pre-approval | All fees and services to the Trust that were pre-approved | All fees and services to service affiliates that were pre-approved | All other fees and services to service affiliates that did not require pre-approval |
| (a) | Audit Fees<sup>(1)</sup><br>| $217250 |  |  | $205300 |  |  |
| (b) | Audit-Related Fees<br>|  |  |  |  |  |  |
| (c) | Tax Fees<br>|  |  |  |  |  |  |
| (d) | All Other Fees<br>|  |  |  |  |  |  |

---

Notes:

(1) Audit
 fees include amounts related to the audit of the Trust's annual financial statements and services normally provided by the accountant
 in connection with statutory and regulatory filings.

---

| | |
|:---|:---|
| (e)(1) | The Trust's Audit Committee has adopted and the Board of Trustees has ratified an Audit and Non-Audit Services Pre-Approval Policy (the "Policy"), which sets forth the procedures and the conditions pursuant to which services proposed to be performed by the independent auditor of the Funds may be pre-approved. |

---

The Policy provides that all requests or applications for proposed services to be provided by the independent auditor must be submitted to the Registrant's Chief Financial Officer ("CFO") and must include a detailed description of the services proposed to be rendered. The CFO will determine whether such services:

&nbsp;&nbsp;&nbsp;&nbsp;1. require specific pre-approval;

2. are included within the list of
 services that have received the general pre-approval of the Audit Committee pursuant to the Policy; or

3. have been previously pre-approved in connection with
 the independent auditor's annual engagement letter for the applicable year or otherwise. In any instance where services require
 pre-approval, the Audit Committee will consider whether such services are consistent with SEC's rules and whether the provision
 of such services would impair the auditor's independence.

Requests or applications to provide services that require specific pre-approval by the Audit Committee will be submitted to the Audit Committee by the CFO. The Audit Committee will be informed by the CFO on a quarterly basis of all services rendered by the independent auditor. The Audit Committee has delegated specific pre-approval authority to either the Audit Committee Chair or financial expert, provided that the estimated fee for any such proposed pre-approved service does not exceed $100,000 and any pre-approval decisions are reported to the Audit Committee at its next regularly-scheduled meeting.

Services that have received the general pre-approval of the Audit Committee are identified and described in the Policy. In addition, the Policy sets forth a maximum fee per engagement with respect to each identified service that has received general pre-approval.

All services to be provided by the independent auditor shall be provided pursuant to a signed written engagement letter with the Registrant, the investment adviser, or applicable control affiliate (except that matters as to which an engagement letter would be impractical because of timing issues or because the matter is small may not be the subject of an engagement letter) that sets forth both the services to be provided by the independent auditor and the total fees to be paid to the independent auditor for those services.

In addition, the Audit Committee has determined to take additional measures on an annual basis to meet the Audit Committee's responsibility to oversee the work of the independent auditor and to assure the auditor's independence from the Registrant, such as (a) reviewing a formal written statement from the independent auditor delineating all relationships between the independent auditor and the Registrant, and (b) discussing with the independent auditor the independent auditor's methods and procedures for ensuring independence.

---

| | |
|:---|:---|
| (e)(2) | Percentage of fees billed applicable to non-audit services pursuant to waiver of pre-approval requirement were as follows: |

---

---

| | | |
|:---|:---|:---|
| | **2025** | **2024** |
| Audit-Related Fees<br>| N/A | N/A |
| Tax Fees | N/A | N/A |
| All Other Fees<br>| N/A | N/A |

---

(f) Not applicable.

(g) The
 aggregate non-audit fees and services billed by Cohen for services rendered to the Registrant, and rendered to the Registrant's
 investment adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by
 another investment adviser), and any entity controlling, controlled by, or under common control with the adviser that provides ongoing
 services to the Registrant for the last two fiscal-years-ended October 31<sup>st</sup> were $0 and $0 for 2025 and 2024, respectively.

(h) During
 the past fiscal year, all non-audit services provided by the Registrant's principal accountant to either the Registrant's
 investment adviser or to any entity controlling, controlled by, or under common control with the Registrant's investment adviser
 that provides ongoing services to the Registrant were pre-approved by the Audit Committee of Registrant's Board of Trustees. 
 Included in the Audit Committee's pre-approval of these non-audit service were the review and consideration as to whether the provision
 of these non-audit services is compatible with maintaining the principal accountant's independence.

(i) Not
 applicable. The Registrant has not retained, for the preparation of the audit report on the financial statements included in the Form
 N-CSR, a registered public accounting firm that has a branch or office that is located in a foreign jurisdiction and that the Public Company
 Accounting Oversight Board (the "PCAOB") has determined that the PCAOB is unable to inspect or investigate completely because
 of a position taken by an authority in the foreign jurisdiction.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) Not applicable. The Registrant is
 not a "foreign issuer," as defined in 17 CFR § 240.3b-4.

**Item 5. Audit Committee of Listed Registrants.**

Not applicable to open-end management investment companies.

**Item 6. Schedule of Investments.**

(a) The
 Schedules of Investments are included as part of the Financial Statements and Other Information filed under Item 7 of this form.

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

**Item 7. Financial Statements and Financial Highlights for Open-End Management Investment Companies.**

Financial statements and financial highlights are filed herein.

![](fp0096588-1_01.jpg)

**CATHOLIC RESPONSIBLE INVESTMENTS**

**OCTOBER 31, 2025**

**TABLE OF CONTENTS**

---

| | |
|:---|:---|
| **Financial Statements (Form N-CSR Item 7)** |  |
| &nbsp;&nbsp;&nbsp;**Schedules of Investments** | **1** |
| &nbsp;&nbsp;&nbsp;**Statements of Assets and Liabilities** | **109** |
| &nbsp;&nbsp;&nbsp;**Statements of Operations** | **113** |
| &nbsp;&nbsp;&nbsp;**Statements of Changes in Net Assets** | **116** |
| &nbsp;&nbsp;&nbsp;**Financial Highlights** | **123** |
| &nbsp;&nbsp;&nbsp;**Notes to Financial Statements** | **128** |
| **Report of Independent Registered Public Accounting Firm** | **159** |
| **Notice to Shareholders (Unaudited)** | **160** |
| **Other Information (Form N-CSR Items 8-11) (Unaudited)** | **162** |

---

**CATHOLIC RESPONSIBLE INVESTMENTS ULTRA SHORT BOND FUND**

**OCTOBER 31, 2025**

**SCHEDULE OF INVESTMENTS**

**ASSET-BACKED SECURITIES — 29.0%**

---

| | | |
|:---|:---|:---|
|  | **Face <br> Amount** | **Value** |
| **Automotive — 21.4%** | **Automotive — 21.4%** | **Automotive — 21.4%** |
| &nbsp;&nbsp;&nbsp;Ally Auto Receivables Trust, Ser 2022-3, Cl A4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.070%, 10/16/28 | $400000 | $401613 |
| &nbsp;&nbsp;&nbsp;AmeriCredit Automobile Receivables Trust, Ser 2024-1, Cl A2B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.784%, SOFR30A + 0.600%, 02/18/28 (A) | 101328 | 101358 |
| &nbsp;&nbsp;&nbsp;ARI Fleet Lease Trust, Ser 2023-B, Cl A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.050%, 07/15/32 (B) | 163908 | 165190 |
| &nbsp;&nbsp;&nbsp;ARI Fleet Lease Trust, Ser 2024-A, Cl A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.300%, 11/15/32 (B) | 216151 | 217406 |
| &nbsp;&nbsp;&nbsp;ARI Fleet Lease Trust, Ser 2025-B, Cl A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.559%, 05/15/26 (B) | 142057 | 142161 |
| &nbsp;&nbsp;&nbsp;BMW Vehicle Lease Trust, Ser 2024-1, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.980%, 03/25/27 | 248765 | 249491 |
| &nbsp;&nbsp;&nbsp;BMW Vehicle Lease Trust, Ser 2024-2, Cl A2A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.290%, 01/25/27 | 171491 | 171572 |
| &nbsp;&nbsp;&nbsp;BMW Vehicle Lease Trust, Ser 2025-1, Cl A2B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.573%, SOFR30A + 0.390%, 09/27/27 (A) | 165000 | 165144 |
| &nbsp;&nbsp;&nbsp;Capital One Prime Auto Receivables Trust, Ser 2022-1, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.170%, 04/15/27 | 19235 | 19203 |
| &nbsp;&nbsp;&nbsp;CarMax Auto Owner Trust, Ser 2022-2, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.490%, 02/16/27 | 13792 | 13787 |
| &nbsp;&nbsp;&nbsp;CarMax Auto Owner Trust, Ser 2022-4, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.340%, 08/16/27 | 91286 | 91562 |
| &nbsp;&nbsp;&nbsp;CarMax Auto Owner Trust, Ser 2024-1, Cl A2B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.854%, SOFR30A + 0.620%, 03/15/27 (A) | 626 | 626 |
| &nbsp;&nbsp;&nbsp;CarMax Auto Owner Trust, Ser 2025-2, Cl A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.468%, 05/15/26 | 2931 | 2931 |
| &nbsp;&nbsp;&nbsp;Chesapeake Funding II, Ser 2023-1A, Cl A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.650%, 05/15/35 (B) | 302963 | 304645 |
| &nbsp;&nbsp;&nbsp;Chesapeake Funding II, Ser 2023-1A, Cl A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.484%, SOFR30A + 1.250%, 05/15/35 (A)(B) | 51504 | 51699 |

---

**ASSET-BACKED SECURITIES — continued**

---

| | | |
|:---|:---|:---|
|  | **Face <br> Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;Chesapeake Funding II, Ser 2023-2A, Cl A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.160%, 10/15/35 (B) | $53137 | $53821 |
| &nbsp;&nbsp;&nbsp;Citizens Auto Receivables Trust, Ser 2023-1, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.840%, 01/18/28 (B) | 184336 | 185450 |
| &nbsp;&nbsp;&nbsp;CPS Auto Receivables Trust, Ser 2024-C, Cl A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.880%, 02/15/28 (B) | 127394 | 127654 |
| &nbsp;&nbsp;&nbsp;Enterprise Fleet Financing, Ser 2023-1, Cl A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.510%, 01/22/29 (B) | 215673 | 216117 |
| &nbsp;&nbsp;&nbsp;Enterprise Fleet Financing, Ser 2024-3, Cl A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.310%, 04/20/27 (B) | 41218 | 41418 |
| &nbsp;&nbsp;&nbsp;Enterprise Fleet Financing, Ser 2025-2, Cl A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.555%, 05/20/26 (B) | 76606 | 76656 |
| &nbsp;&nbsp;&nbsp;Enterprise Fleet Financing, Ser 2025-3, Cl A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.551%, 07/20/26 (B) | 126869 | 127027 |
| &nbsp;&nbsp;&nbsp;Enterprise Fleet Financing, Ser 2025-4, Cl A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.103%, 10/20/26 (B) | 295000 | 295093 |
| &nbsp;&nbsp;&nbsp;Ford Credit Auto Lease Trust, Ser 2024-A, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.060%, 05/15/27 | 215633 | 216102 |
| &nbsp;&nbsp;&nbsp;Ford Credit Auto Lease Trust, Ser 2024-B, Cl A2A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.180%, 02/15/27 | 27772 | 27808 |
| &nbsp;&nbsp;&nbsp;Ford Credit Auto Lease Trust, Ser 2024-B, Cl A2B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.634%, SOFR30A + 0.400%, 02/15/27 (A) | 76006 | 76016 |
| &nbsp;&nbsp;&nbsp;Ford Credit Auto Lease Trust, Ser 2025-A, Cl A2B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.644%, SOFR30A + 0.410%, 08/15/27 (A) | 366825 | 367081 |
| &nbsp;&nbsp;&nbsp;Ford Credit Auto Owner Trust, Ser 2022-C, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.480%, 12/15/26 | 6492 | 6492 |
| &nbsp;&nbsp;&nbsp;Ford Credit Auto Owner Trust, Ser 2022-C, Cl A4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.590%, 12/15/27 | 375000 | 375645 |
| &nbsp;&nbsp;&nbsp;Ford Credit Auto Owner Trust, Ser 2024-B, Cl A2B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.634%, SOFR30A + 0.400%, 04/15/27 (A) | 116172 | 116211 |
| &nbsp;&nbsp;&nbsp;Ford Credit Auto Owner Trust, Ser 2025-A, Cl A2B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.644%, SOFR30A + 0.410%, 12/15/27 (A) | 561153 | 561543 |

---

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS ULTRA SHORT BOND FUND**

**OCTOBER 31, 2025**

**ASSET-BACKED SECURITIES — continued** 

---

| | | |
|:---|:---|:---|
|  | **Face <br> Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;Ford Credit Auto Owner Trust, Ser 2025-B, Cl A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.057%, 10/15/26 | $554009 | $553846 |
| &nbsp;&nbsp;&nbsp;GM Financial Automobile Leasing Trust, Ser 2024-1, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.090%, 03/22/27 | 496855 | 498087 |
| &nbsp;&nbsp;&nbsp;Gm Financial Automobile Leasing Trust, Ser 2025-2, Cl A2B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.684%, SOFR30A + 0.500%, 07/20/27 (A) | 125000 | 125135 |
| &nbsp;&nbsp;&nbsp;GM Financial Automobile Leasing Trust, Ser 2025-3, Cl A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.359%, 08/20/26 | 294903 | 295125 |
| &nbsp;&nbsp;&nbsp;GM Financial Consumer Automobile Receivables Trust, Ser 2022-4, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.820%, 08/16/27 | 395087 | 395768 |
| &nbsp;&nbsp;&nbsp;GM Financial Consumer Automobile Receivables Trust, Ser 2023-3, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.450%, 06/16/28 | 249405 | 251167 |
| &nbsp;&nbsp;&nbsp;GM Financial Consumer Automobile Receivables Trust, Ser 2024-2, Cl A2B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.589%, SOFR30A + 0.390%, 03/16/27 (A) | 12427 | 12428 |
| &nbsp;&nbsp;&nbsp;GM Financial Consumer Automobile Receivables Trust, Ser 2024-3, Cl A2A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.350%, 06/16/27 | 25773 | 25816 |
| &nbsp;&nbsp;&nbsp;GMF Floorplan Owner Revolving Trust Series, Ser 2025-1A, Cl A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.834%, SOFR30A + 0.600%, 03/15/29 (A)(B) | 1195000 | 1197397 |
| &nbsp;&nbsp;&nbsp;Honda Auto Receivables Owner Trust, Ser 2025-2, Cl A2B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.714%, SOFR30A + 0.480%, 01/18/28 (A) | 160000 | 160165 |
| &nbsp;&nbsp;&nbsp;Hyundai Auto Lease Securitization Trust, Ser 2024- B, Cl A2B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.684%, SOFR30A + 0.450%, 10/15/26 (A)(B) | 102873 | 102881 |
| &nbsp;&nbsp;&nbsp;Hyundai Auto Lease Securitization Trust, Ser 2025- B, Cl A2A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.580%, 09/15/27 (B) | 259887 | 260766 |
| &nbsp;&nbsp;&nbsp;Hyundai Auto Receivables Trust, Ser 2024-B, Cl A2A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.150%, 06/15/27 | 69743 | 69875 |

---

**ASSET-BACKED SECURITIES — continued** 

---

| | | |
|:---|:---|:---|
|  | **Face <br> Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;Hyundai Auto Receivables Trust, Ser 2024-C, Cl A2B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.634%, SOFR30A + 0.400%, 09/15/27 (A) | $164343 | $164417 |
| &nbsp;&nbsp;&nbsp;Hyundai Auto Receivables Trust, Ser 2025-A, Cl A2B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.574%, SOFR30A + 0.340%, 12/15/27 (A) | 1024581 | 1024966 |
| &nbsp;&nbsp;&nbsp;Hyundai Auto Receivables Trust, Ser 2025-B, Cl A2B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.614%, SOFR30A + 0.380%, 08/15/28 (A) | 215000 | 215205 |
| &nbsp;&nbsp;&nbsp;Hyundai Auto Receivables Trust, Ser 2025-C, Cl A2B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.584%, SOFR30A + 0.350%, 07/17/28 (A) | 860000 | 860385 |
| &nbsp;&nbsp;&nbsp;LAD Auto Receivables Trust, Ser 2025-2A, Cl A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.463%, 08/17/26 (B) | 102598 | 102628 |
| &nbsp;&nbsp;&nbsp;Mercedes-Benz Auto Lease Trust, Ser 2024-A, Cl A2B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.654%, SOFR30A + 0.420%, 02/16/27 (A) | 27558 | 27564 |
| &nbsp;&nbsp;&nbsp;Mercedes-Benz Auto Lease Trust, Ser 2024-A, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.320%, 01/18/28 | 192000 | 194007 |
| &nbsp;&nbsp;&nbsp;Mercedes-Benz Auto Lease Trust, Ser 2025-A, Cl A2B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.754%, SOFR30A + 0.520%, 04/17/28 (A) | 140000 | 140137 |
| &nbsp;&nbsp;&nbsp;Nissan Auto Lease Trust, Ser 2024-A, Cl A2A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.110%, 10/15/26 | 20250 | 20256 |
| &nbsp;&nbsp;&nbsp;Nissan Auto Lease Trust, Ser 2024-B, Cl A2A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.050%, 06/15/27 | 148557 | 149138 |
| &nbsp;&nbsp;&nbsp;Nissan Auto Lease Trust, Ser 2024-B, Cl A2B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.644%, SOFR30A + 0.410%, 06/15/27 (A) | 594229 | 594471 |
| &nbsp;&nbsp;&nbsp;Nissan Auto Receivables Owner Trust, Ser 2023-A, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.910%, 11/15/27 | 176315 | 176743 |
| &nbsp;&nbsp;&nbsp;Nissan Auto Receivables Owner Trust, Ser 2025-A, Cl A2B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.684%, SOFR30A + 0.450%, 02/15/28 (A) | 400000 | 400325 |
| &nbsp;&nbsp;&nbsp;Porsche Financial Auto Securitization Trust, Ser 2025- 1A, Cl A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.106%, 10/22/26 (B) | 415000 | 415119 |

---

 

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS ULTRA SHORT BOND FUND**

**OCTOBER 31, 2025**

**ASSET-BACKED SECURITIES — continued** 

---

| | | |
|:---|:---|:---|
|  | **Face <br> Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;Porsche Innovative Lease Owner Trust, Ser 2024-2A, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.350%, 10/20/27 (B) | $400000 | $400655 |
| &nbsp;&nbsp;&nbsp;Porsche Innovative Lease Owner Trust, Ser 2025-1A, Cl A2B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.684%, SOFR30A + 0.500%, 12/20/27 (A)(B) | 99155 | 99259 |
| &nbsp;&nbsp;&nbsp;Santander Drive Auto Receivables Trust, Ser 2025-1, Cl A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.760%, 08/16/27 | 157601 | 157659 |
| &nbsp;&nbsp;&nbsp;Santander Drive Auto Receivables Trust, Ser 2025-2, Cl A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.710%, 06/15/28 | 338213 | 338855 |
| &nbsp;&nbsp;&nbsp;SBNA Auto Lease Trust, Ser 2023-A, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.510%, 04/20/27 (B) | 108631 | 109210 |
| &nbsp;&nbsp;&nbsp;SBNA Auto Lease Trust, Ser 2024-A, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.390%, 11/20/26 (B) | 172224 | 172773 |
| &nbsp;&nbsp;&nbsp;SBNA Auto Lease Trust, Ser 2024-A, Cl A4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.240%, 01/22/29 (B) | 225000 | 226285 |
| &nbsp;&nbsp;&nbsp;SBNA Auto Lease Trust, Ser 2024-B, Cl A4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.550%, 12/20/28 (B) | 105000 | 106287 |
| &nbsp;&nbsp;&nbsp;SCCU Auto Receivables Trust, Ser 2025-1A, Cl A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.552%, 07/15/26 (B) | 42597 | 42609 |
| &nbsp;&nbsp;&nbsp;SFS Auto Receivables Securitization Trust, Ser 2024- 3A, Cl A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.710%, 05/22/28 (B) | 291915 | 292233 |
| &nbsp;&nbsp;&nbsp;Stellantis Financial Underwritten Enhanced Lease Trust 2025-B, Ser 2025-BA, Cl A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.390%, 08/20/26 (B) | 326948 | 327226 |
| &nbsp;&nbsp;&nbsp;Toyota Auto Receivables Owner Trust, Ser 2024-C, Cl A2B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.604%, SOFR30A + 0.370%, 05/17/27 (A) | 363513 | 363600 |
| &nbsp;&nbsp;&nbsp;USB Auto Owner Trust, Ser 2025-1A, Cl A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.495%, 06/15/26 (B) | 36221 | 36228 |
| &nbsp;&nbsp;&nbsp;Volkswagen Auto Lease Trust, Ser 2023-A, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.810%, 10/20/26 | 96451 | 96626 |
| &nbsp;&nbsp;&nbsp;Volkswagen Auto Lease Trust, Ser 2024-A, Cl A2B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.654%, SOFR30A + 0.470%, 12/21/26 (A) | 128137 | 128196 |

---

**ASSET-BACKED SECURITIES — continued** 

---

| | | |
|:---|:---|:---|
|  | **Face <br> Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;Volkswagen Auto Lease Trust, Ser 2024-A, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.210%, 06/21/27 | $500000 | $503654 |
| &nbsp;&nbsp;&nbsp;Volkswagen Auto Lease Trust, Ser 2025-B, Cl A2B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.554%, SOFR30A + 0.370%, 04/20/28 (A) | 365000 | 364928 |
| &nbsp;&nbsp;&nbsp;Volkswagen Auto Loan Enhanced Trust, Ser 2023-2, Cl A2B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.814%, SOFR30A + 0.630%, 03/22/27 (A) | 80398 | 80410 |
| &nbsp;&nbsp;&nbsp;Westlake Automobile Receivables Trust, Ser 2025- 2A, Cl A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.642%, 07/15/26 (B) | 212167 | 212217 |
| &nbsp;&nbsp;&nbsp;Westlake Automobile Receivables Trust, Ser 2025- 3A, Cl A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.280%, 10/15/26 (B) | 900000 | 900073 |
| &nbsp;&nbsp;&nbsp;World Omni Auto Receivables Trust, Ser 2021-D, Cl C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.720%, 06/15/28 | 325000 | 324625 |
| &nbsp;&nbsp;&nbsp;World Omni Auto Receivables Trust, Ser 2022-A, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.660%, 05/17/27 | 19762 | 19741 |
| &nbsp;&nbsp;&nbsp;World Omni Automobile Lease Securitization Trust, Ser 2024- A, Cl A2B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.664%, SOFR30A + 0.430%, 02/16/27 (A) | 145428 | 145451 |
| &nbsp;&nbsp;&nbsp;World Omni Automobile Lease Securitization Trust, Ser 2025- A, Cl A2B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.624%, SOFR30A + 0.390%, 12/15/27 (A) | 849829 | 850258 |
| &nbsp;&nbsp;&nbsp;World Omni Select Auto Trust, Ser 2024-A, Cl A2A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.370%, 02/15/28 | 67901 | 67990 |
| &nbsp;&nbsp;&nbsp;World Omni Select Auto Trust, Ser 2025-A, Cl A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.222%, 10/15/26 | 583090 | 583138 |
|  |  | 20352525 |
| **Credit Card — 1.7%** |  |  |
| &nbsp;&nbsp;&nbsp;CARDS II Trust, Ser 2024-1A, Cl A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.879%, SOFRRATE + 0.680%, 07/15/29 (A)(B) | 280000 | 280348 |
| &nbsp;&nbsp;&nbsp;Citibank Credit Card Issuance Trust, Ser 2023-A2, Cl A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.776%, SOFRRATE + 0.630%, 12/08/27 (A) | 1172000 | 1171900 |

---

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS ULTRA SHORT BOND FUND**

**OCTOBER 31, 2025**

**ASSET-BACKED SECURITIES — continued**

---

| | | |
|:---|:---|:---|
|  | **Face <br> Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;Evergreen Credit Card Trust, Ser 2024-1A, Cl A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.874%, SOFRRATE + 0.680%, 07/15/28 (A)(B) | $170000 | $170409 |
|  |  | 1622657 |
| **Other Asset-Backed Securities — 5.9%** |  |  |
| &nbsp;&nbsp;&nbsp;522 Funding CLO, Ser 2021-3A, Cl AR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.186%, TSFR3M + 1.302%, 10/20/31 (A)(B) | 49209 | 49249 |
| &nbsp;&nbsp;&nbsp;Amur Equipment Finance Receivables XII, Ser 2023-1A, Cl A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.090%, 12/20/29 (B) | 302060 | 304741 |
| &nbsp;&nbsp;&nbsp;Amur Equipment Finance Receivables XV, Ser 2025-1A, Cl A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.613%, 05/20/26 (B) | 46117 | 46127 |
| &nbsp;&nbsp;&nbsp;Apidos CLO XXX, Ser 2024- XXXA, Cl A1AR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.964%, TSFR3M + 1.080%, 10/18/31 (A)(B) | 137113 | 137076 |
| &nbsp;&nbsp;&nbsp;Auxilior Term Funding, Ser 2023-1A, Cl A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.180%, 12/15/28 (B) | 141985 | 142894 |
| &nbsp;&nbsp;&nbsp;Bain Capital Credit CLO, Ser 2024-2A, Cl A1R |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.964%, TSFR3M + 1.080%, 07/19/31 (A)(B) | 410267 | 410091 |
| &nbsp;&nbsp;&nbsp;Barings Equipment Finance, Ser 2025-B, Cl A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.080%, 11/06/26 (B) | 565000 | 565182 |
| &nbsp;&nbsp;&nbsp;Cbam, Ser 2018-7A, Cl A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.246%, TSFR3M + 1.362%, 07/20/31 (A)(B) | 88589 | 88606 |
| &nbsp;&nbsp;&nbsp;CCG Receivables Trust, Ser 2023-2, Cl A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.280%, 04/14/32 (B) | 109985 | 111220 |
| &nbsp;&nbsp;&nbsp;CCG Receivables Trust, Ser 2025-1, Cl A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.497%, 03/16/26 (B) | 4089 | 4090 |
| &nbsp;&nbsp;&nbsp;CCG Receivables Trust, Ser 2025-2, Cl A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.120%, 10/14/26 (B) | 360000 | 360019 |
| &nbsp;&nbsp;&nbsp;CNH Equipment Trust, Ser 2022-C, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.150%, 04/17/28 | 195651 | 196872 |
| &nbsp;&nbsp;&nbsp;CNH Equipment Trust, Ser 2024-B, Cl A2B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.634%, SOFR30A + 0.400%, 10/15/27 (A) | 193462 | 193517 |
| &nbsp;&nbsp;&nbsp;Daimler Trucks Retail Trust, Ser 2023-1, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.900%, 03/15/27 | 518732 | 521518 |

---

**ASSET-BACKED SECURITIES — continued**

---

| | | |
|:---|:---|:---|
|  | **Face<br> Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;Daimler Trucks Retail Trust, Ser 2024-1, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.490%, 12/15/27 | $161134 | $162486 |
| &nbsp;&nbsp;&nbsp;DLLAA, Ser 2025-1A, Cl A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.700%, 10/20/27 (B) | 130236 | 130591 |
| &nbsp;&nbsp;&nbsp;GreatAmerica Leasing Receivables Funding, Ser 2025-1, Cl A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.462%, 03/16/26 (B) | 41179 | 41188 |
| &nbsp;&nbsp;&nbsp;HPEFS Equipment Trust, Ser 2025-2A, Cl A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.153%, 10/20/26 (B) | 380000 | 380168 |
| &nbsp;&nbsp;&nbsp;John Deere Owner Trust, Ser 2023-A, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.010%, 11/15/27 | 192342 | 193114 |
| &nbsp;&nbsp;&nbsp;Kubota Credit Owner Trust, Ser 2025-1A, Cl A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.481%, 02/16/26 (B) | 21591 | 21595 |
| &nbsp;&nbsp;&nbsp;Kubota Credit Owner Trust, Ser 2025-2A, Cl A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.480%, 07/15/26 (B) | 274207 | 274517 |
| &nbsp;&nbsp;&nbsp;MMAF Equipment Finance, Ser 2017-B, Cl A5 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.720%, 06/15/40 (B) | 16304 | 16290 |
| &nbsp;&nbsp;&nbsp;Octagon Investment Partners XVI, Ser 2018-1A, Cl A1R |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.163%, TSFR3M + 1.282%, 07/17/30 (A)(B) | 67249 | 67246 |
| &nbsp;&nbsp;&nbsp;PFS Financing, Ser 2024-A, Cl A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.084%, SOFR30A + 0.850%, 01/15/28 (A)(B) | 350000 | 350301 |
| &nbsp;&nbsp;&nbsp;PFS Financing, Ser 2025-A, Cl A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.884%, SOFR30A + 0.650%, 01/15/29 (A)(B) | 285000 | 285504 |
| &nbsp;&nbsp;&nbsp;Volvo Financial Equipment Series, Ser 2025-1A, Cl A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.491%, 03/16/26 (B) | 100505 | 100539 |
| &nbsp;&nbsp;&nbsp;Volvo Financial Equipment Series, Ser 2025-2A, Cl A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.073%, 10/15/26 (B) | 375743 | 375878 |
| &nbsp;&nbsp;&nbsp;Volvo Financial Equipment Series, Ser 2025-2A, Cl A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.960%, 06/15/28 (B) | 120000 | 119798 |
|  |  | 5650417 |
| &nbsp;&nbsp;&nbsp;Total Asset-Backed Securities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $27,612,955) |  | 27625599 |

---

 

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS ULTRA SHORT BOND FUND**

**OCTOBER 31, 2025**

**REPURCHASE AGREEMENTS — 27.0%**

---

| | | |
|:---|:---|:---|
|  | **Face <br> Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;Citi Treasury |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.150%, dated 10/31/25, to be repurchased on 11/03/25, repurchase price $8,602,974 (collateralized by various U.S. Treasury Obligations, par values $100 - $8,256,600, 2.750% - 4.750%, 11/15/2042 - 11/15/2043; with total market value $8,772,100) | $8600000 | $8600000 |
| &nbsp;&nbsp;&nbsp;Goldman Triparty Mortgage |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.160%, dated 10/31/25, to be repurchased on 11/03/25, repurchase price $8,502,947 (collateralized by various U.S. Treasury Obligations, par values $81,000 - $28,702,400, 2.500% - 5.500%, 07/01/2032 - 08/20/2065; with total market value $8,670,000) | 8500000 | 8500000 |
| &nbsp;&nbsp;&nbsp;Socgen Triparty Treasury |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.150%, dated 10/31/25, to be repurchased on 11/03/25, repurchase price $8,602,974 (collateralized by a U.S. Treasury Obligation, par value $10,115,900, 3.375%, 08/15/2042; with total market value $8,772,041) | 8600000 | 8600000 |
| &nbsp;&nbsp;&nbsp;Total Repurchase Agreements |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $25,700,000) |  | 25700000 |
| **U.S. TREASURY OBLIGATIONS — 26.9%** |  |  |
| &nbsp;&nbsp;&nbsp;U.S. Treasury Bills |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.014%, 11/18/25(C) | $3825000 | $3818831 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.958%, 12/04/25(C) | 2875000 | 2865402 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.924%, 12/23/25(C) | 3825000 | 3804402 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.898%, 12/26/25(C) | 1750000 | 1739926 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.889%, 01/13/26(C) | 2600000 | 2580955 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.888%, 01/08/26(C) | 2750000 | 2730930 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.876%, 12/30/25(C) | 190800 | 189636 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.864%, 01/20/26(C) | 3500000 | 3471725 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.861%, 01/06/26(C) | 1559200 | 1548650 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.847%, 01/22/26(C) | 2900000 | 2875785 |
| &nbsp;&nbsp;&nbsp;Total U.S. Treasury Obligations |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $25,618,323) |  | 25626242 |

---

**CORPORATE OBLIGATIONS — 15.2%** 

---

| | | |
|:---|:---|:---|
|  | **Face <br> Amount** | **Value** |
| **CONSUMER DISCRETIONARY — 1.6%** | **CONSUMER DISCRETIONARY — 1.6%** | **CONSUMER DISCRETIONARY — 1.6%** |
| &nbsp;&nbsp;&nbsp;American Honda Finance MTN |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.895%, SOFRINDX + 0.720%, 10/05/26(A) | $472000 | $473151 |
| &nbsp;&nbsp;&nbsp;Hyundai Capital America |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.875%, 06/23/27(B) | 275000 | 277508 |
| &nbsp;&nbsp;&nbsp;Toyota Motor Credit |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.065%, SOFRRATE + 0.770%, 08/07/26(A) | 550000 | 552199 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.622%, SOFRINDX + 0.450%, 04/10/26(A) | 200000 | 200223 |
|  |  | 1503081 |
| **FINANCIALS — 11.1%** |  |  |
| &nbsp;&nbsp;&nbsp;American Express |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.042%, SOFRRATE + 0.760%, 02/13/26(A) | 550000 | 550386 |
| &nbsp;&nbsp;&nbsp;Athene Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.684%, 02/23/26(B) | 425000 | 426642 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.278%, SOFRINDX + 1.030%, 08/27/26(A)(B) | 350000 | 351609 |
| &nbsp;&nbsp;&nbsp;Australia & New Zealand Banking Group |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.052%, SOFRRATE + 0.810%, 01/18/27(A)(B) | 900000 | 905403 |
| &nbsp;&nbsp;&nbsp;Bank of America MTN |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.500%, 04/19/26 | 525000 | 523700 |
| &nbsp;&nbsp;&nbsp;Banque Federative du Credit Mutuel |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.935%, 01/26/26(B) | 450000 | 450762 |
| &nbsp;&nbsp;&nbsp;Citibank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.438%, 04/30/26 | 550000 | 553088 |
| &nbsp;&nbsp;&nbsp;Commonwealth Bank of Australia NY |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.470%, SOFRRATE + 0.250%, 03/26/26(A) | 575000 | 575172 |
| &nbsp;&nbsp;&nbsp;Cooperatieve Rabobank UA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.850%, 01/09/26 | 525000 | 525419 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.360%, SOFRRATE + 0.320%, 02/04/26(A) | 425000 | 425225 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.300%, 04/01/26 | 625000 | 623017 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.223%, SOFRRATE + 1.000%, 12/08/26(A) | 525000 | 528787 |
| &nbsp;&nbsp;&nbsp;Macquarie Group |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.340%, U.S. SOFR + 1.069%, 01/12/27(A)(B) | 500000 | 497071 |
| &nbsp;&nbsp;&nbsp;Mitsubishi UFJ Financial Group |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.850%, 03/01/26 | 450000 | 449710 |
| &nbsp;&nbsp;&nbsp;National Australia Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.966%, 01/12/26 | 550000 | 550803 |

---

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS ULTRA SHORT BOND FUND**

**OCTOBER 31, 2025**

**CORPORATE OBLIGATIONS — continued** 

---

| | | |
|:---|:---|:---|
|  | **Face <br> Amount** | **Value** |
| **FINANCIALS — continued** |  |  |
| &nbsp;&nbsp;&nbsp;Pacific Life Global Funding II MTN |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.375%, 04/14/26(B) | $400000 | $395104 |
| &nbsp;&nbsp;&nbsp;Protective Life Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.618%, 04/15/26(B) | 482000 | 476715 |
| &nbsp;&nbsp;&nbsp;Royal Bank of Canada MTN |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.200%, 04/27/26 | 550000 | 542728 |
| &nbsp;&nbsp;&nbsp;Toronto-Dominion Bank MTN |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.750%, 01/06/26 | 500000 | 496995 |
| &nbsp;&nbsp;&nbsp;UBS Group |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.364%, H15T1Y + 1.080%, 01/30/27(A)(B) | 500000 | 496348 |
| &nbsp;&nbsp;&nbsp;Wells Fargo |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 04/22/26 | 250000 | 248817 |
|  |  | 10593501 |
| **HEALTH CARE — 0.4%** |  |  |
| &nbsp;&nbsp;&nbsp;Mead Johnson Nutrition |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.125%, 11/15/25 | 425000 | 424877 |
| **INDUSTRIALS — 1.2%** |  |  |
| &nbsp;&nbsp;&nbsp;Air Lease MTN |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.875%, 01/15/26 | 350000 | 348768 |
| &nbsp;&nbsp;&nbsp;Caterpillar Financial Services |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 01/07/27 | 225000 | 226559 |
| &nbsp;&nbsp;&nbsp;John Deere Capital |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 01/08/27 | 225000 | 226591 |
| &nbsp;&nbsp;&nbsp;Penske Truck Leasing Lp |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.200%, 11/15/25(B) | 400000 | 399492 |
|  |  | 1201410 |
| **MATERIALS — 0.3%** |  |  |
| &nbsp;&nbsp;&nbsp;Glencore Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.927%, SOFRINDX + 0.750%, 10/01/26(A)(B) | 250000 | 250389 |
| **UTILITIES — 0.6%** |  |  |
| &nbsp;&nbsp;&nbsp;Georgia Power |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.482%, SOFRINDX + 0.280%, 09/15/26(A) | 550000 | 550194 |
| &nbsp;&nbsp;&nbsp;Total Corporate Obligations |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $14,511,193) |  | 14523452 |
| **COMMERCIAL PAPER — 1.0%** |  |  |
| &nbsp;&nbsp;&nbsp;BOFA Securities Inc |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.000%, 12/19/25(D) | $925000 | $925060 |

---

**COMMERCIAL PAPER — continued** 

---

| | | |
|:---|:---|:---|
|  | **Face <br> Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;Total Commercial Paper |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $925,000) |  | 925060 |
| **MORTGAGE-BACKED SECURITY — 0.0%** |  |  |
| &nbsp;&nbsp;&nbsp;FNMA, Ser 2014-53, Cl VB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.500%, 01/25/35 | $51016 | $50815 |
| &nbsp;&nbsp;&nbsp;Total Mortgage-Backed Security |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $50,156) |  | 50815 |
| &nbsp;&nbsp;&nbsp;Total Investments in Securities— 99.1% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $94,417,627) |  | $94451168 |

---

Percentages are based on Net Assets of $95,349,145.

&nbsp;&nbsp;&nbsp;&nbsp;(A) Variable or floating rate security.
 The rate shown is the effective interest rate as of period end. The rates for certain securities are not based on published reference
 rates and spreads and are either determined by the issuer or agent based on current market conditions; by using a formula based on the
 rates of underlying loans; or by adjusting periodically based on prevailing interest rates.

&nbsp;&nbsp;&nbsp;&nbsp;(B) Securities sold within the terms of
 a private placement memorandum, exempt from registration under section 144A of the Securities Act of 1933, as amended, and maybe sold
 only to dealers in the program or other "accredited investors". The total value of these securities at October 31, 2025 was $16,768,893
 and represented 17.6% of Net Assets.

&nbsp;&nbsp;&nbsp;&nbsp;(C) Interest rate represents the security's
 effective yield at the time of purchase.

&nbsp;&nbsp;&nbsp;&nbsp;(D) No interest rate available.

Cl — Class

CLO — Collateralized Loan Obligation

FNMA — Federal National Mortgage Association

H15T1Y — US Treasury Yield Curve Rate T Note Constant Maturity 1 Year

MTN — Medium Term Note

Ser — Series

SOFRINDX — Secured Overnight Financing Rate Index

SOFR30A — Secured Overnight Financing Rate 30-day Average

SOFRRATE — Secured Overnight Financing Rate

TSFR3M — Term Secured Overnight Financing Rate 3 Month U.S.

SOFR — United States Secured Overnight Financing Rate

As of October 31, 2025, all of the Fund's investments in securities were considered Level 2, in accordance with the authoritative guidance of fair value measurements and disclosure under accounting principles generally accepted in the United States of America.

For more information on valuation inputs, see Note 2 — Significant Accounting Policies in the Notes to Financial Statements.

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS SHORT DURATION BOND FUND**

**OCTOBER 31, 2025**

**SCHEDULE OF INVESTMENTS**

**CORPORATE OBLIGATIONS — 37.3%**

---

| | | |
|:---|:---|:---|
|  | **Face <br> Amount** | **Value** |
| **COMMUNICATION SERVICES — 1.4%** | **COMMUNICATION SERVICES — 1.4%** | **COMMUNICATION SERVICES — 1.4%** |
| &nbsp;&nbsp;&nbsp;Alphabet |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.100%, 08/15/30 | $3000000 | $2629503 |
| &nbsp;&nbsp;&nbsp;AT&T |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.750%, 06/01/31 | 975000 | 892453 |
| &nbsp;&nbsp;&nbsp;Comcast |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.100%, 06/01/29 | 1150000 | 1183786 |
| &nbsp;&nbsp;&nbsp;Take-Two Interactive Software |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 03/28/26 | 725000 | 727362 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.950%, 03/28/28 | 600000 | 610450 |
| &nbsp;&nbsp;&nbsp;T-Mobile USA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.750%, 04/15/27 | 600000 | 596515 |
| &nbsp;&nbsp;&nbsp;Verizon Communications |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.750%, 12/01/30 | 775000 | 889979 |
|  |  | 7530048 |
| **CONSUMER DISCRETIONARY — 2.2%** | **CONSUMER DISCRETIONARY — 2.2%** | **CONSUMER DISCRETIONARY — 2.2%** |
| &nbsp;&nbsp;&nbsp;AutoZone |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.125%, 06/15/30 | 965000 | 995555 |
| &nbsp;&nbsp;&nbsp;Daimler Truck Finance North America |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.125%, 09/25/27(A) | 1155000 | 1172835 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 01/15/27(A) | 325000 | 327974 |
| &nbsp;&nbsp;&nbsp;Element Fleet Management |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.643%, 03/13/27(A) | 980000 | 997871 |
| &nbsp;&nbsp;&nbsp;General Motors Financial |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.400%, 05/08/27 | 1000000 | 1016159 |
| &nbsp;&nbsp;&nbsp;Hyatt Hotels |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.750%, 01/30/27 | 750000 | 762761 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 06/30/29 | 1150000 | 1182304 |
| &nbsp;&nbsp;&nbsp;Hyundai Capital America |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.950%, 09/21/26(A) | 750000 | 760367 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.275%, 06/24/27(A) | 400000 | 406087 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 01/08/27(A) | 750000 | 757770 |
| &nbsp;&nbsp;&nbsp;O'Reilly Automotive |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.750%, 11/20/26 | 850000 | 863683 |
| &nbsp;&nbsp;&nbsp;Starbucks |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.450%, 06/15/26 | 1984000 | 1964155 |
| &nbsp;&nbsp;&nbsp;Toyota Motor Credit MTN |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.375%, 04/01/30 | 185000 | 179400 |
| &nbsp;&nbsp;&nbsp;Trustees of Dartmouth College |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.273%, 06/01/30 | 350000 | 353171 |
|  |  | 11740092 |
| **CONSUMER STAPLES — 0.6%** | **CONSUMER STAPLES — 0.6%** | **CONSUMER STAPLES — 0.6%** |
| &nbsp;&nbsp;&nbsp;Coca-Cola Consolidated |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 06/01/29 | 290000 | 300235 |
| &nbsp;&nbsp;&nbsp;Coty |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.600%, 01/15/31(A) | 220000 | 220719 |
| &nbsp;&nbsp;&nbsp;Keurig Dr Pepper |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.100%, 03/15/27 | 480000 | 484596 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.600%, 05/15/30 | 1200000 | 1203253 |

---

**CORPORATE OBLIGATIONS — continued** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Face <br> Amount** | **Face <br> Amount** | **Value** | **Value** |
| **CONSUMER STAPLES — continued** | **CONSUMER STAPLES — continued** | **CONSUMER STAPLES — continued** | **CONSUMER STAPLES — continued** | **CONSUMER STAPLES — continued** |
| &nbsp;&nbsp;&nbsp;Mars |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.600%, 03/01/28(A) | $| 1200000 | $| 1213917 |
|  |  |  |  | 3422720 |
| **ENERGY — 1.8%** | **ENERGY — 1.8%** | **ENERGY — 1.8%** | **ENERGY — 1.8%** | **ENERGY — 1.8%** |
| &nbsp;&nbsp;&nbsp;Abu Dhabi Future Energy Pjsc Masdar |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.875%, 05/21/30 |  | 500000 |  | 510379 |
| &nbsp;&nbsp;&nbsp;Columbia Pipelines Holding |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.055%, 08/15/26(A) |  | 290000 |  | 293265 |
| &nbsp;&nbsp;&nbsp;Enbridge |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.900%, 11/15/26 |  | 720000 |  | 731955 |
| &nbsp;&nbsp;&nbsp;Energy Transfer |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.050%, 12/01/26 |  | 925000 |  | 940809 |
| &nbsp;&nbsp;&nbsp;Hess |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.300%, 04/01/27 |  | 1750000 |  | 1754774 |
| &nbsp;&nbsp;&nbsp;MidAmerican Energy |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.650%, 04/15/29 |  | 2000000 |  | 1978770 |
| &nbsp;&nbsp;&nbsp;ONEOK |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.550%, 11/01/26 |  | 1325000 |  | 1340877 |
| &nbsp;&nbsp;&nbsp;Var Energi |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.875%, 05/22/30(A) |  | 1840000 |  | 1913819 |
| &nbsp;&nbsp;&nbsp;Williams |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.400%, 03/02/26 |  | 300000 |  | 301123 |
|  |  |  |  | 9765771 |
| **FINANCIALS — 22.8%** | **FINANCIALS — 22.8%** | **FINANCIALS — 22.8%** | **FINANCIALS — 22.8%** | **FINANCIALS — 22.8%** |
| &nbsp;&nbsp;&nbsp;ABN AMRO Bank | &nbsp;&nbsp;&nbsp;ABN AMRO Bank | &nbsp;&nbsp;&nbsp;ABN AMRO Bank | &nbsp;&nbsp;&nbsp;ABN AMRO Bank | &nbsp;&nbsp;&nbsp;ABN AMRO Bank |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.339%, H15T1Y + 1.650%, 09/18/27(A)(B) |  | 1200000 |  | 1221200 |
| &nbsp;&nbsp;&nbsp;African Development Bank |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.125%, 02/25/27 |  | 1000000 |  | 1004464 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.500%, 09/18/29 |  | 500000 |  | 495725 |
| &nbsp;&nbsp;&nbsp;American Express |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.645%, SOFRINDX + 0.750%, 04/23/27(B) |  | 700000 |  | 704636 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.389%, SOFRRATE + 0.970%, 07/28/27(B) |  | 550000 |  | 554625 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.098%, SOFRRATE + 1.000%, 02/16/28(B) |  | 650000 |  | 658011 |
| &nbsp;&nbsp;&nbsp;Arab Energy Fund |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.483%, 10/06/26 |  | 930000 |  | 905011 |
| &nbsp;&nbsp;&nbsp;Arab Petroleum Investments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.428%, 05/02/29(A) |  | 1500000 |  | 1557864 |
| &nbsp;&nbsp;&nbsp;Ares Capital |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.000%, 01/15/27 |  | 900000 |  | 924260 |
| &nbsp;&nbsp;&nbsp;Asian Infrastructure Investment Bank MTN |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.910%, SOFRINDX + 0.620%, 08/16/27(B) |  | 2000000 |  | 2012282 |
| &nbsp;&nbsp;&nbsp;Athene Global Funding |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.583%, 01/09/29(A) |  | 875000 |  | 900304 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.339%, 01/15/27(A) |  | 1000000 |  | 1013371 |

---

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS SHORT DURATION BOND FUND**

**OCTOBER 31, 2025**

**CORPORATE OBLIGATIONS — continued**

---

| | | |
|:---|:---|:---|
|  | **Face <br> Amount** | **Value** |
| **FINANCIALS — continued** | **FINANCIALS — continued** | **FINANCIALS — continued** |
| &nbsp;&nbsp;&nbsp;Aviation Capital Group |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.800%, 10/24/30(A) | $1225000 | $1223505 |
| &nbsp;&nbsp;&nbsp;Bank of America MTN |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.933%, SOFRRATE + 1.340%, 09/15/27(B) | 1500000 | 1521838 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.819%, SOFRRATE + 1.570%, 09/15/29(B) | 1450000 | 1512914 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.162%, SOFRRATE + 1.000%, 01/24/31(B) | 775000 | 800582 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.705%, TSFR3M + 1.774%, 04/24/28(B) | 1000000 | 993453 |
| &nbsp;&nbsp;&nbsp;Bank of New York Mellon |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.947%, SOFRRATE + 1.026%, 04/26/27(B) | 470000 | 471952 |
| &nbsp;&nbsp;&nbsp;Barclays |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.496%, SOFRRATE + 1.880%, 09/13/27(B) | 500000 | 509167 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.829%, SOFRRATE + 2.210%, 05/09/27(B) | 550000 | 554276 |
| &nbsp;&nbsp;&nbsp;BNP Paribas |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.591%, SOFRRATE + 1.228%, 01/20/28(A)(B) | 625000 | 611986 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.675%, SOFRRATE + 0.912%, 06/30/27(A)(B) | 1000000 | 982349 |
| &nbsp;&nbsp;&nbsp;BPCE |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.612%, SOFRRATE + 1.980%, 10/19/27(A)(B) | 1125000 | 1148396 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.203%, 01/18/27(A) | 1150000 | 1163849 |
| &nbsp;&nbsp;&nbsp;CaixaBank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.684%, SOFRRATE + 2.080%, 09/13/27(A)(B) | 750000 | 765137 |
| &nbsp;&nbsp;&nbsp;Canadian Imperial Bank of Commerce |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.237%, 06/28/27 | 845000 | 861418 |
| &nbsp;&nbsp;&nbsp;Central American Bank for Economic Integration |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 02/09/26(A) | 500000 | 500680 |
| &nbsp;&nbsp;&nbsp;Citibank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.876%, SOFRRATE + 0.712%, 11/19/27(B) | 1500000 | 1510444 |
| &nbsp;&nbsp;&nbsp;Citigroup |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.174%, SOFRRATE + 1.364%, 02/13/30(B) | 1150000 | 1179972 |
| &nbsp;&nbsp;&nbsp;Citizens Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.575%, SOFRRATE + 2.000%, 08/09/28(B) | 600000 | 603725 |
| &nbsp;&nbsp;&nbsp;Clearinghouse Community Development Financial Institution |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.000%, 10/15/30(A) | 1000000 | 988428 |
| &nbsp;&nbsp;&nbsp;ContourGlobal Power Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.750%, 02/28/30(A) | 250000 | 256994 |

---

**CORPORATE OBLIGATIONS — continued** 

---

| | | |
|:---|:---|:---|
|  | **Face <br> Amount** | **Value** |
| **FINANCIALS — continued** | **FINANCIALS — continued** | **FINANCIALS — continued** |
| &nbsp;&nbsp;&nbsp;Cooperatieve Rabobank UA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.106%, H15T1Y + 0.550%, 02/24/27(A)(B) | $250000 | $247514 |
| &nbsp;&nbsp;&nbsp;Corebridge Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.200%, 01/12/29(A) | 380000 | 390051 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.900%, 12/03/29(A) | 925000 | 944235 |
| &nbsp;&nbsp;&nbsp;Credit Agricole |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.230%, SOFRRATE + 1.130%, 01/09/29(A)(B) | 1250000 | 1271815 |
| &nbsp;&nbsp;&nbsp;Credit Agricole Corporate & Investment Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.570%, 08/25/30 | 2000000 | 1995249 |
| &nbsp;&nbsp;&nbsp;Danske Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.427%, H15T1Y + 0.950%, 03/01/28(A)(B) | 1350000 | 1372227 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.420%, H15T1Y + 0.850%, 09/12/31(A)(B) | 875000 | 870011 |
| &nbsp;&nbsp;&nbsp;Equitable Financial Life Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.800%, 03/08/28(A) | 1350000 | 1277413 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.300%, 07/12/26(A) | 500000 | 490498 |
| &nbsp;&nbsp;&nbsp;European Investment Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.375%, 05/24/27 | 2500000 | 2450379 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.125%, 04/13/26 | 447000 | 443417 |
| &nbsp;&nbsp;&nbsp;F&G Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.650%, 09/08/28(A) | 495000 | 496441 |
| &nbsp;&nbsp;&nbsp;Fifth Third Bancorp |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.707%, SOFRRATE + 0.685%, 11/01/27(B) | 1000000 | 974282 |
| &nbsp;&nbsp;&nbsp;Fortitude Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.625%, 10/06/28(A) | 185000 | 185123 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Bank USA NY |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.414%, SOFRRATE + 0.750%, 05/21/27(B) | 1150000 | 1157262 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.484%, SOFRRATE + 1.770%, 10/24/29(B) | 3125000 | 3318154 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.387%, SOFRRATE + 1.510%, 06/15/27(B) | 500000 | 500116 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.223%, TSFR3M + 1.563%, 05/01/29(B) | 1000000 | 1000168 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.850%, 01/26/27 | 1175000 | 1171189 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.640%, SOFRRATE + 1.114%, 02/24/28(B) | 625000 | 612716 |
| &nbsp;&nbsp;&nbsp;Hanwha Futureproof |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.750%, 04/30/28(A) | 500000 | 508702 |
| &nbsp;&nbsp;&nbsp;Horace Mann Educators |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.700%, 10/01/30 | 1300000 | 1288165 |
| &nbsp;&nbsp;&nbsp;HPS Corporate Lending Fund |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.300%, 06/05/27(A) | 885000 | 888043 |

---

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS SHORT DURATION BOND FUND**

**OCTOBER 31, 2025**

**CORPORATE OBLIGATIONS — continued** 

---

| | | |
|:---|:---|:---|
|  | **Face <br> Amount** | **Value** |
| **FINANCIALS — continued** | **FINANCIALS — continued** | **FINANCIALS — continued** |
| &nbsp;&nbsp;&nbsp;HSBC Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.336%, SOFRRATE + 3.030%, 11/03/26(B) | $1000000 | $1000000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.887%, SOFRRATE + 1.570%, 08/14/27(B) | 1410000 | 1427617 |
| &nbsp;&nbsp;&nbsp;ING Groep |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.083%, SOFRRATE + 1.560%, 09/11/27(B) | 735000 | 746047 |
| &nbsp;&nbsp;&nbsp;Inter-American Investment |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.125%, 02/15/28 | 500000 | 503743 |
| &nbsp;&nbsp;&nbsp;Intercontinental Exchange |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.625%, 09/01/28 | 1300000 | 1286085 |
| &nbsp;&nbsp;&nbsp;International Bank for Reconstruction & Development MTN |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.510%, 03/31/28(B) | 1000000 | 983168 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.000%, 03/31/27(C) | 2500000 | 2365069 |
| &nbsp;&nbsp;&nbsp;International Development Association |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.375%, 11/27/29(A) | 425000 | 434563 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.875%, 04/28/26(A) | 1000000 | 984973 |
| &nbsp;&nbsp;&nbsp;International Finance Facility for Immunisation |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.750%, 11/03/25 | 1500000 | 1500000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.125%, 10/29/27 | 1000000 | 1006131 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.000%, 04/21/26 | 2500000 | 2465281 |
| &nbsp;&nbsp;&nbsp;Jackson National Life Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.550%, 07/02/27(A) | 595000 | 607331 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.087%, SOFRRATE + 1.570%, 10/23/29(B) | 1000000 | 1053667 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.070%, SOFRRATE + 1.330%, 10/22/27(B) | 5000000 | 5089382 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.571%, SOFRRATE + 0.930%, 04/22/28(B) | 1150000 | 1173224 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.979%, SOFRRATE + 0.930%, 07/22/28(B) | 980000 | 993979 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.702%, TSFR3M + 1.422%, 05/06/30(B) | 825000 | 810945 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.045%, SOFRRATE + 0.800%, 11/19/26(B) | 1500000 | 1497969 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.110%, 12/08/26 | 1150000 | 1163669 |
| &nbsp;&nbsp;&nbsp;KBC Group |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.796%, H15T1Y + 2.100%, 01/19/29(A)(B) | 295000 | 304505 |
| &nbsp;&nbsp;&nbsp;KEB Hana Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.843%, SOFRRATE + 0.600%, 10/21/28(A)(B) | 425000 | 426070 |
| &nbsp;&nbsp;&nbsp;Kreditanstalt fuer Wiederaufbau |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.000%, 10/01/26 | 250000 | 243713 |

---

**CORPORATE OBLIGATIONS — continued** 

---

| | | |
|:---|:---|:---|
|  | **Face<br> Amount** | **Value** |
| **FINANCIALS — continued** | **FINANCIALS — continued** | **FINANCIALS — continued** |
| &nbsp;&nbsp;&nbsp;Lincoln Financial Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.625%, 08/18/30(A) | $165000 | $165368 |
| &nbsp;&nbsp;&nbsp;Lloyds Banking Group |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.985%, H15T1Y + 1.480%, 08/07/27(B) | 750000 | 759541 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.087%, H15T1Y + 0.850%, 11/26/28(B) | 1200000 | 1219712 |
| &nbsp;&nbsp;&nbsp;Lseg US Finance |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.875%, 03/28/27(A) | 1000000 | 1009989 |
| &nbsp;&nbsp;&nbsp;M&T Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.413%, SOFRRATE + 2.800%, 10/30/29(B) | 1400000 | 1515154 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.833%, SOFRRATE + 0.930%, 01/16/29(B) | 1000000 | 1012019 |
| &nbsp;&nbsp;&nbsp;Manufacturers & Traders Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.650%, 01/27/26 | 1650000 | 1651156 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley MTN |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.652%, SOFRRATE + 1.010%, 04/13/28(B) | 1150000 | 1173654 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.449%, SOFRRATE + 1.630%, 07/20/29(B) | 205000 | 211477 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/24/25 | 3425000 | 3425721 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.952%, SOFRRATE + 1.080%, 01/14/28(B) | 1150000 | 1160071 |
| &nbsp;&nbsp;&nbsp;Nationwide Building Society |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.557%, SOFRRATE + 1.910%, 10/18/27(A)(B) | 1125000 | 1148387 |
| &nbsp;&nbsp;&nbsp;NatWest Group |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.847%, H15T1Y + 1.350%, 03/02/27(B) | 435000 | 437025 |
| &nbsp;&nbsp;&nbsp;NLG Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.350%, 09/15/30(A) | 645000 | 638713 |
| &nbsp;&nbsp;&nbsp;Nordea Bank Abp |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.375%, 09/22/27(A) | 600000 | 614644 |
| &nbsp;&nbsp;&nbsp;NTT Finance |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.104%, 07/02/27(A) | 1150000 | 1167349 |
| &nbsp;&nbsp;&nbsp;OPEC Fund for International Development |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 01/26/26(A) | 2200000 | 2201177 |
| &nbsp;&nbsp;&nbsp;Pacific Life Global Funding II |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.450%, 05/01/28(A) | 1200000 | 1211650 |
| &nbsp;&nbsp;&nbsp;PNC Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.050%, 07/26/28 | 1375000 | 1372147 |
| &nbsp;&nbsp;&nbsp;PNC Financial Services Group |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.615%, SOFRINDX + 1.730%, 10/20/27(B) | 750000 | 766855 |
| &nbsp;&nbsp;&nbsp;Principal Life Global Funding II |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.950%, 11/27/29(A) | 1175000 | 1201144 |
| &nbsp;&nbsp;&nbsp;RGA Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.448%, 05/24/29(A) | 590000 | 611542 |

---

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS SHORT DURATION BOND FUND**

**OCTOBER 31, 2025**

**CORPORATE OBLIGATIONS — continued** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Face<br> Amount** | **Face<br> Amount** | **Value** | **Value** |
| **FINANCIALS — continued** | **FINANCIALS — continued** | **FINANCIALS — continued** | **FINANCIALS — continued** | **FINANCIALS — continued** |
| &nbsp;&nbsp;&nbsp;Rocket Mortgage |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.875%, 10/15/26(A) | $| 1330000 | $| 1306556 |
| &nbsp;&nbsp;&nbsp;Royal Bank of Canada |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.696%, SOFRRATE + 1.060%, 08/06/31(B) |  | 1275000 |  | 1290484 |
| &nbsp;&nbsp;&nbsp;SBA Tower Trust |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.831%, 10/15/29‡(A) |  | 1955000 |  | 1959504 |
| &nbsp;&nbsp;&nbsp;Skandinaviska Enskilda Banken |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.125%, 03/05/27(A) |  | 950000 |  | 964549 |
| &nbsp;&nbsp;&nbsp;Standard Chartered |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.170%, H15T1Y + 2.050%, 01/09/27(A)(B) |  | 700000 |  | 701909 |
| &nbsp;&nbsp;&nbsp;Swedbank |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.083%, 05/21/30(A) |  | 1455000 |  | 1493599 |
| &nbsp;&nbsp;&nbsp;Truist Financial MTN |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.123%, SOFRRATE + 1.368%, 06/06/28(B) |  | 1000000 |  | 999713 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.267%, SOFRRATE + 0.609%, 03/02/27(B) |  | 1000000 |  | 989799 |
| &nbsp;&nbsp;&nbsp;UBS |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.864%, SOFRRATE + 0.720%, 01/10/28(B) |  | 1175000 |  | 1184166 |
| &nbsp;&nbsp;&nbsp;Wells Fargo MTN |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.303%, SOFRRATE + 1.790%, 10/23/29(B) |  | 1450000 |  | 1533403 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.707%, SOFRRATE + 1.070%, 04/22/28(B) |  | 1150000 |  | 1175048 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.244%, SOFRRATE + 1.110%, 01/24/31(B) |  | 775000 |  | 801910 |
| &nbsp;&nbsp;&nbsp;Westpac New Zealand |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.132%, 02/26/27(A) |  | 1000000 |  | 1013463 |
| &nbsp;&nbsp;&nbsp;WLB Asset II D Pte |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.500%, 12/21/26(A) |  | 1000000 |  | 964941 |
| &nbsp;&nbsp;&nbsp;WLB Asset VI Pte |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.250%, 12/21/27(A) |  | 1000000 |  | 1044262 |
| &nbsp;&nbsp;&nbsp;WLB Asset VII Pte |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.880%, 07/30/29(A) |  | 500000 |  | 501689 |
| &nbsp;&nbsp;&nbsp;YMCA of Greater New York |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.184%, 08/01/30 |  | 500000 |  | 502577 |
|  |  |  |  | 125135186 |
| **HEALTH CARE — 1.1%** | **HEALTH CARE — 1.1%** | **HEALTH CARE — 1.1%** | **HEALTH CARE — 1.1%** | **HEALTH CARE — 1.1%** |
| &nbsp;&nbsp;&nbsp;CVS Pass-Through Trust |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.036%, 12/10/28 |  | 1385806 |  | 1408553 |
| &nbsp;&nbsp;&nbsp;Elevance Health |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.150%, 06/15/29 |  | 220000 |  | 226535 |
| &nbsp;&nbsp;&nbsp;Icon Investments Six DAC |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.809%, 05/08/27 |  | 265000 |  | 270447 |
| &nbsp;&nbsp;&nbsp;PeaceHealth Obligated Group |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.335%, 11/15/28 |  | 380000 |  | 381947 |
| &nbsp;&nbsp;&nbsp;Royalty Pharma |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.750%, 09/02/27 |  | 1275000 |  | 1221612 |

---

**CORPORATE OBLIGATIONS — continued** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Face<br> Amount** | **Face<br> Amount** | **Value** | **Value** |
| **HEALTH CARE — continued** | **HEALTH CARE — continued** | **HEALTH CARE — continued** | **HEALTH CARE — continued** | **HEALTH CARE — continued** |
| &nbsp;&nbsp;&nbsp;Smith & Nephew |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.150%, 03/20/27 | $| 515000 | $| 521178 |
| &nbsp;&nbsp;&nbsp;Stryker | &nbsp;&nbsp;&nbsp;Stryker | &nbsp;&nbsp;&nbsp;Stryker | &nbsp;&nbsp;&nbsp;Stryker | &nbsp;&nbsp;&nbsp;Stryker |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.700%, 02/10/28 |  | 1200000 |  | 1216473 |
| &nbsp;&nbsp;&nbsp;Zoetis |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.150%, 08/17/28 |  | 1300000 |  | 1303872 |
|  |  |  |  | 6550617 |
| **INDUSTRIALS — 1.2%** | **INDUSTRIALS — 1.2%** | **INDUSTRIALS — 1.2%** | **INDUSTRIALS — 1.2%** | **INDUSTRIALS — 1.2%** |
| &nbsp;&nbsp;&nbsp;AerCap Ireland Capital DAC |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.100%, 01/15/27 |  | 1000000 |  | 1020226 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.875%, 04/01/28 |  | 925000 |  | 938892 |
| &nbsp;&nbsp;&nbsp;HEICO |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 08/01/28 |  | 270000 |  | 278005 |
| &nbsp;&nbsp;&nbsp;Norfolk Southern |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.300%, 05/15/31 |  | 1000000 |  | 902022 |
| &nbsp;&nbsp;&nbsp;PACCAR Financial |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.550%, 05/08/30 |  | 1345000 |  | 1369057 |
| &nbsp;&nbsp;&nbsp;Penske Truck Leasing Lp |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.350%, 01/12/27(A) |  | 485000 |  | 490312 |
| &nbsp;&nbsp;&nbsp;Waste Management |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.950%, 07/03/27 |  | 1150000 |  | 1168883 |
|  |  |  |  | 6167397 |
| **INFORMATION TECHNOLOGY — 1.5%** | **INFORMATION TECHNOLOGY — 1.5%** | **INFORMATION TECHNOLOGY — 1.5%** | **INFORMATION TECHNOLOGY — 1.5%** | **INFORMATION TECHNOLOGY — 1.5%** |
| &nbsp;&nbsp;&nbsp;Apple |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 06/20/27 |  | 2000000 |  | 1976317 |
| &nbsp;&nbsp;&nbsp;Broadcom |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.050%, 04/15/30 |  | 1175000 |  | 1214058 |
| &nbsp;&nbsp;&nbsp;Cadence Design Systems |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.300%, 09/10/29 |  | 760000 |  | 762874 |
| &nbsp;&nbsp;&nbsp;Flex |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 01/15/28 |  | 550000 |  | 568037 |
| &nbsp;&nbsp;&nbsp;Foundry JV Holdco |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 01/25/31(A) |  | 1175000 |  | 1218041 |
| &nbsp;&nbsp;&nbsp;Open Text |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.900%, 12/01/27(A) |  | 1295000 |  | 1348044 |
| &nbsp;&nbsp;&nbsp;Oracle |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.300%, 03/25/28 |  | 650000 |  | 621497 |
| &nbsp;&nbsp;&nbsp;Sprint Capital |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.875%, 11/15/28 |  | 550000 |  | 590673 |
|  |  |  |  | 8299541 |
| **MATERIALS — 0.1%** | **MATERIALS — 0.1%** | **MATERIALS — 0.1%** | **MATERIALS — 0.1%** | **MATERIALS — 0.1%** |
| &nbsp;&nbsp;&nbsp;Celanese US Holdings |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.665%, 07/15/27 |  | 748000 |  | 767782 |
| **REAL ESTATE — 1.3%** | **REAL ESTATE — 1.3%** | **REAL ESTATE — 1.3%** | **REAL ESTATE — 1.3%** | **REAL ESTATE — 1.3%** |
| &nbsp;&nbsp;&nbsp;COPT Defense Properties |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.250%, 03/15/26‡ |  | 550000 |  | 545299 |
| &nbsp;&nbsp;&nbsp;Cousins Properties |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 07/15/30‡ |  | 1200000 |  | 1225241 |

---

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS SHORT DURATION BOND FUND**

**OCTOBER 31, 2025**

**CORPORATE OBLIGATIONS — continued**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Face <br> Amount** | **Face <br> Amount** | **Value** | **Value** |
| **REAL ESTATE — continued** | **REAL ESTATE — continued** | **REAL ESTATE — continued** | **REAL ESTATE — continued** | **REAL ESTATE — continued** |
| &nbsp;&nbsp;&nbsp;ERP Operating |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.150%, 12/01/28‡ | $| 1000000 | $| 1002971 |
| &nbsp;&nbsp;&nbsp;Extra Space Storage |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.700%, 04/01/28‡ |  | 1225000 |  | 1264001 |
| &nbsp;&nbsp;&nbsp;Host Hotels & Resorts |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.900%, 12/15/31‡ |  | 500000 |  | 445916 |
| &nbsp;&nbsp;&nbsp;Realty Income |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.700%, 12/15/28‡ |  | 1250000 |  | 1271381 |
| &nbsp;&nbsp;&nbsp;Welltower OP |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.050%, 01/15/29‡ |  | 1200000 |  | 1125694 |
|  |  |  |  | 6880503 |
| **UTILITIES — 3.3%** | **UTILITIES — 3.3%** | **UTILITIES — 3.3%** | **UTILITIES — 3.3%** | **UTILITIES — 3.3%** |
| &nbsp;&nbsp;&nbsp;AEP Texas |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.950%, 06/01/28 |  | 1200000 |  | 1193652 |
| &nbsp;&nbsp;&nbsp;Alliant Energy Finance |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.400%, 06/06/27(A) |  | 910000 |  | 920894 |
| &nbsp;&nbsp;&nbsp;Consumers 2023 Securitization Funding |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.550%, 03/01/28 |  | 756050 |  | 766984 |
| &nbsp;&nbsp;&nbsp;Continental Wind |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 02/28/33(A) |  | 846145 |  | 867568 |
| &nbsp;&nbsp;&nbsp;Emera US Finance |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.550%, 06/15/26 |  | 1025000 |  | 1019600 |
| &nbsp;&nbsp;&nbsp;FirstEnergy Pennsylvania Electric |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.150%, 03/30/26(A) |  | 500000 |  | 501135 |
| &nbsp;&nbsp;&nbsp;Georgia Power |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.850%, 03/15/31 |  | 1200000 |  | 1230282 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.650%, 05/16/28 |  | 1175000 |  | 1192284 |
| &nbsp;&nbsp;&nbsp;ITC Holdings |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.950%, 09/22/27(A) |  | 1200000 |  | 1215567 |
| &nbsp;&nbsp;&nbsp;New York State Electric & Gas |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.150%, 10/01/31(A) |  | 500000 |  | 436544 |
| &nbsp;&nbsp;&nbsp;NextEra Energy Operating Partners |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.250%, 01/15/29(A)(D) |  | 1016000 |  | 1044989 |
| &nbsp;&nbsp;&nbsp;PG&E Recovery Funding |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.838%, 06/01/33 |  | 3601179 |  | 3665987 |
| &nbsp;&nbsp;&nbsp;San Diego Gas & Electric |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.950%, 08/15/28 |  | 1000000 |  | 1022727 |
| &nbsp;&nbsp;&nbsp;Southern Power |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.900%, 01/15/26 |  | 1000000 |  | 993264 |
| &nbsp;&nbsp;&nbsp;Texas Electric Market Stabilization Funding N |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.265%, 08/01/34(A) |  | 1948696 |  | 1943011 |
|  |  |  |  | 18014488 |
| &nbsp;&nbsp;&nbsp;Total Corporate Obligations |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $201,952,882) |  |  |  | 204274145 |

---

**U.S. TREASURY OBLIGATIONS — 28.0%**

---

| | | |
|:---|:---|:---|
|  | **Face<br> Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;U.S. Treasury Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.625%, 04/30/29 | $11325000 | $11685985 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.250%, 01/15/28 | 13880000 | 14064886 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.875%, 07/15/28 | 14900000 | 15000109 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.625%, 08/15/28 | 17475000 | 17483191 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.625%, 09/30/30 | 683000 | 680119 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.625%, 10/31/30 | 331000 | 329629 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.375%, 09/15/28 | 8725000 | 8669106 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.125%, 08/31/27 | 28700000 | 28449996 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.875%, 06/30/26 | 22185000 | 21907254 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.875%, 07/31/26 | 7200000 | 7099969 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.250%, 06/30/28 | 13010000 | 12238039 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.625%, 12/31/27 | 9300000 | 8729285 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.500%, 06/30/27 | 7200000 | 6840844 |
| &nbsp;&nbsp;&nbsp;Total U.S. Treasury Obligations |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $152,272,165) |  | 153178412 |
| **ASSET-BACKED SECURITIES — 18.8%** | **ASSET-BACKED SECURITIES — 18.8%** | **ASSET-BACKED SECURITIES — 18.8%** |
| **Automotive — 9.4%** | **Automotive — 9.4%** | **Automotive — 9.4%** |
| &nbsp;&nbsp;&nbsp;Americredit Automobile Receivables Trust, Ser 2023-1, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.620%, 11/18/27 | $436723 | $438350 |
| &nbsp;&nbsp;&nbsp;ARI Fleet Lease Trust, Ser 2023-B, Cl A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.050%, 07/15/32 (A) | 131127 | 132151 |
| &nbsp;&nbsp;&nbsp;ARI Fleet Lease Trust, Ser 2025-B, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.600%, 03/15/34 (A) | 260000 | 263019 |
| &nbsp;&nbsp;&nbsp;Bank of America Auto Trust, Ser 2023-1A, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.530%, 02/15/28 (A) | 440245 | 443236 |
| &nbsp;&nbsp;&nbsp;Bank of America Auto Trust, Ser 2023-2A, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.740%, 06/15/28 (A) | 772153 | 779743 |
| &nbsp;&nbsp;&nbsp;BMW Vehicle Owner Trust, Ser 2023-A, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.470%, 02/25/28 | 241061 | 242582 |
| &nbsp;&nbsp;&nbsp;BofA Auto Trust, Ser 2025-1A, Cl A4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.470%, 11/20/31 (A) | 450000 | 454732 |
| &nbsp;&nbsp;&nbsp;Bridgecrest Lending Auto Securitization Trust, Ser 2024- 1, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.530%, 01/18/28 | 30888 | 30898 |
| &nbsp;&nbsp;&nbsp;Capital One Prime Auto Receivables Trust, Ser 2025-1, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.850%, 07/15/30 | 325000 | 324721 |

---

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS SHORT DURATION BOND FUND**

**OCTOBER 31, 2025**

**ASSET-BACKED SECURITIES — continued** 

---

| | | |
|:---|:---|:---|
|  | **Face <br> Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;Capital One Prime Auto Receivables Trust, Ser 2025-1, Cl A4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.920%, 02/18/31 | $340000 | $338991 |
| &nbsp;&nbsp;&nbsp;Carmax Auto Owner Trust, Ser 2022-3, Cl B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.690%, 02/15/28 | 800000 | 801499 |
| &nbsp;&nbsp;&nbsp;CarMax Auto Owner Trust, Ser 2023-1, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.750%, 10/15/27 | 177778 | 178109 |
| &nbsp;&nbsp;&nbsp;Carmax Auto Owner Trust, Ser 2023-3, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.280%, 05/15/28 | 541504 | 545023 |
| &nbsp;&nbsp;&nbsp;CarMax Auto Owner Trust, Ser 2024-4, Cl A2A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.670%, 12/15/27 | 547776 | 548677 |
| &nbsp;&nbsp;&nbsp;Carmax Auto Owner Trust, Ser 2025-3, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.350%, 07/15/30 | 501000 | 504167 |
| &nbsp;&nbsp;&nbsp;Chesapeake Funding II, Ser 2023-1A, Cl A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.650%, 05/15/35 (A) | 333260 | 335107 |
| &nbsp;&nbsp;&nbsp;Citizens Auto Receivables Trust, Ser 2023-2, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.830%, 02/15/28 (A) | 696929 | 702073 |
| &nbsp;&nbsp;&nbsp;Citizens Auto Receivables Trust, Ser 2024-1, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.110%, 04/17/28 (A) | 438786 | 440979 |
| &nbsp;&nbsp;&nbsp;Enterprise Fleet Financing, Ser 2022-3, Cl A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.380%, 07/20/29 (A) | 23268 | 23272 |
| &nbsp;&nbsp;&nbsp;Enterprise Fleet Financing, Ser 2023-1, Cl A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.510%, 01/22/29 (A) | 97951 | 98150 |
| &nbsp;&nbsp;&nbsp;Enterprise Fleet Financing, Ser 2023-2, Cl A2 | &nbsp;&nbsp;&nbsp;Enterprise Fleet Financing, Ser 2023-2, Cl A2 | &nbsp;&nbsp;&nbsp;Enterprise Fleet Financing, Ser 2023-2, Cl A2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.560%, 04/22/30 (A) | 689424 | 693472 |
| &nbsp;&nbsp;&nbsp;Enterprise Fleet Financing, Ser 2023-3, Cl A2 | &nbsp;&nbsp;&nbsp;Enterprise Fleet Financing, Ser 2023-3, Cl A2 | &nbsp;&nbsp;&nbsp;Enterprise Fleet Financing, Ser 2023-3, Cl A2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.400%, 03/20/30 (A) | 1372659 | 1390982 |
| &nbsp;&nbsp;&nbsp;Enterprise Fleet Financing, Ser 2024-1, Cl A3 | &nbsp;&nbsp;&nbsp;Enterprise Fleet Financing, Ser 2024-1, Cl A3 | &nbsp;&nbsp;&nbsp;Enterprise Fleet Financing, Ser 2024-1, Cl A3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.160%, 09/20/30 (A) | 355000 | 361343 |
| &nbsp;&nbsp;&nbsp;Enterprise Fleet Financing, Ser 2025-2, Cl A3 | &nbsp;&nbsp;&nbsp;Enterprise Fleet Financing, Ser 2025-2, Cl A3 | &nbsp;&nbsp;&nbsp;Enterprise Fleet Financing, Ser 2025-2, Cl A3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.410%, 06/20/29 (A) | 375000 | 377654 |
| &nbsp;&nbsp;&nbsp;Enterprise Fleet Financing, Ser 2025-4, Cl A3 | &nbsp;&nbsp;&nbsp;Enterprise Fleet Financing, Ser 2025-4, Cl A3 | &nbsp;&nbsp;&nbsp;Enterprise Fleet Financing, Ser 2025-4, Cl A3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.110%, 12/20/29 (A) | 1009000 | 1008771 |
| &nbsp;&nbsp;&nbsp;Flagship Credit Auto Trust, Ser 2023-2, Cl A3 | &nbsp;&nbsp;&nbsp;Flagship Credit Auto Trust, Ser 2023-2, Cl A3 | &nbsp;&nbsp;&nbsp;Flagship Credit Auto Trust, Ser 2023-2, Cl A3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.220%, 12/15/27 (A) | 210148 | 210260 |

---

**ASSET-BACKED SECURITIES — continued** 

---

| | | |
|:---|:---|:---|
|  | **Face <br> Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;Flagship Credit Auto Trust, Ser 2023-3, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.440%, 04/17/28 (A) | $569049 | $569606 |
| &nbsp;&nbsp;&nbsp;Ford Credit Auto Lease Trust, Ser 2025-B, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.230%, 12/15/28 | 1700000 | 1707903 |
| &nbsp;&nbsp;&nbsp;Ford Credit Auto Owner Trust, Ser 2021-REV1, Cl A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.370%, 10/17/33 (A) | 245000 | 241924 |
| &nbsp;&nbsp;&nbsp;Ford Credit Auto Owner Trust, Ser 2024-C, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.070%, 07/15/29 | 550000 | 550937 |
| &nbsp;&nbsp;&nbsp;Ford Credit Auto Owner Trust, Ser 2024-D, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.610%, 08/15/29 | 565000 | 570657 |
| &nbsp;&nbsp;&nbsp;Ford Credit Floorplan Master Owner Trust A, Ser 2024-1, Cl A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.290%, 04/15/29 (A) | 1200000 | 1219755 |
| &nbsp;&nbsp;&nbsp;Ford Credit Floorplan Master Owner Trust, Ser 2023-1, Cl A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.920%, 05/15/28 (A) | 730000 | 732560 |
| &nbsp;&nbsp;&nbsp;Foursight Capital Automobile Receivables Trust, Ser 2023-2, Cl A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.990%, 05/15/28 (A) | 93196 | 93578 |
| &nbsp;&nbsp;&nbsp;GLS Auto Select Receivables Trust, Ser 2023-2A, Cl A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.370%, 06/15/28 (A) | 182708 | 183809 |
| &nbsp;&nbsp;&nbsp;GM Financial Consumer Automobile Receivables Trust, Ser 2023-2, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.470%, 02/16/28 | 233123 | 233435 |
| &nbsp;&nbsp;&nbsp;GM Financial Consumer Automobile Receivables Trust, Ser 2023-3, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.450%, 06/16/28 | 1230400 | 1239080 |
| &nbsp;&nbsp;&nbsp;GM Financial Consumer Automobile Receivables Trust, Ser 2023-4, Cl A4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.710%, 02/16/29 | 500000 | 511508 |
| &nbsp;&nbsp;&nbsp;GM Financial Consumer Automobile Receivables Trust, Ser 2024-1, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.850%, 12/18/28 | 494397 | 496998 |
| &nbsp;&nbsp;&nbsp;GM Financial Consumer Automobile Receivables Trust, Ser 2025-2, Cl B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.620%, 05/16/31 | 405000 | 407259 |
| &nbsp;&nbsp;&nbsp;GM Financial Consumer Automobile Receivables Trust, Ser 2025-3, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.180%, 08/16/30 | 2000000 | 2010969 |

---

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS SHORT DURATION BOND FUND** 

**OCTOBER 31, 2025**

**ASSET-BACKED SECURITIES — continued** 

---

| | | |
|:---|:---|:---|
|  | **Face <br> Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;GM Financial Consumer Automobile Receivables Trust, Ser 2025-4, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.840%, 02/18/31 | $220000 | $219407 |
| &nbsp;&nbsp;&nbsp;GM Financial Consumer Automobile Receivables Trust, Ser 2025-4, Cl A4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.930%, 04/16/32 | 200000 | 199247 |
| &nbsp;&nbsp;&nbsp;GMF Floorplan Owner Revolving Trust, Ser 2024-1A, Cl A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.130%, 03/15/29 (A) | 2275000 | 2306547 |
| &nbsp;&nbsp;&nbsp;Honda Auto Receivables Owner Trust, Ser 2023-2, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.930%, 11/15/27 | 791453 | 794799 |
| &nbsp;&nbsp;&nbsp;Honda Auto Receivables Owner Trust, Ser 2023-4, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.670%, 06/21/28 | 1592466 | 1609341 |
| &nbsp;&nbsp;&nbsp;Honda Auto Receivables Owner Trust, Ser 2024-1, Cl A4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.170%, 05/15/30 | 880000 | 893700 |
| &nbsp;&nbsp;&nbsp;Honda Auto Receivables Owner Trust, Ser 2025-2, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.150%, 10/15/29 | 460000 | 461504 |
| &nbsp;&nbsp;&nbsp;Hyundai Auto Lease Securitization Trust, Ser 2023-C, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.800%, 12/15/26 (A) | 462960 | 463841 |
| &nbsp;&nbsp;&nbsp;Hyundai Auto Lease Securitization Trust, Ser 2025-C, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.360%, 07/17/28 (A) | 1450000 | 1457382 |
| &nbsp;&nbsp;&nbsp;Hyundai Auto Receivables Trust, Ser 2023-A, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.580%, 04/15/27 | 98453 | 98538 |
| &nbsp;&nbsp;&nbsp;Hyundai Auto Receivables Trust, Ser 2023-B, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.480%, 04/17/28 | 1165457 | 1173750 |
| &nbsp;&nbsp;&nbsp;Hyundai Floorplan Master Owner Trust, Ser 2025-1A, Cl A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.010%, 10/15/30 (A) | 1265000 | 1264402 |
| &nbsp;&nbsp;&nbsp;M&T Bank Auto Receivables Trust, Ser 2024-1A, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.220%, 02/17/32 (A) | 1110000 | 1121751 |
| &nbsp;&nbsp;&nbsp;Mercedes-Benz Auto Lease Trust, Ser 2023-A, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.740%, 01/15/27 | 198419 | 198456 |
| &nbsp;&nbsp;&nbsp;Mercedes-Benz Auto Lease Trust, Ser 2024-A, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.320%, 01/18/28 | 2000000 | 2020853 |
| &nbsp;&nbsp;&nbsp;Mercedes-Benz Auto Receivables Trust, Ser 2023-1, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.510%, 11/15/27 | 289196 | 289614 |

---

**ASSET-BACKED SECURITIES — continued**

---

| | | |
|:---|:---|:---|
|  | **Face <br> Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;Nissan Auto Receivables Owner Trust, Ser 2025-A, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.490%, 12/17/29 | $1410000 | $1423333 |
| &nbsp;&nbsp;&nbsp;Porsche Financial Auto Securitization Trust, Ser 2023-2A, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.790%, 01/22/29 (A) | 192169 | 193652 |
| &nbsp;&nbsp;&nbsp;Santander Drive Auto Receivables Trust, Ser 2022-2, Cl C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.760%, 07/16/29 | 827951 | 826346 |
| &nbsp;&nbsp;&nbsp;Santander Drive Auto Receivables Trust, Ser 2024-1, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 04/17/28 | 91347 | 91458 |
| &nbsp;&nbsp;&nbsp;SBNA Auto Lease Trust, Ser 2024-A, Cl A3 | &nbsp;&nbsp;&nbsp;SBNA Auto Lease Trust, Ser 2024-A, Cl A3 | &nbsp;&nbsp;&nbsp;SBNA Auto Lease Trust, Ser 2024-A, Cl A3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.390%, 11/20/26 (A) | 303114 | 304070 |
| &nbsp;&nbsp;&nbsp;SFS Auto Receivables Securitization Trust, Ser 2023-1A, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.470%, 10/20/28 (A) | 693388 | 697825 |
| &nbsp;&nbsp;&nbsp;SFS Auto Receivables Securitization Trust, Ser 2024-1A, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.950%, 05/21/29 (A) | 286590 | 288153 |
| &nbsp;&nbsp;&nbsp;Tesla Auto Lease Trust, Ser 2023-B, Cl A3 | &nbsp;&nbsp;&nbsp;Tesla Auto Lease Trust, Ser 2023-B, Cl A3 | &nbsp;&nbsp;&nbsp;Tesla Auto Lease Trust, Ser 2023-B, Cl A3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.130%, 09/21/26 (A) | 20273 | 20291 |
| &nbsp;&nbsp;&nbsp;Tesla Auto Lease Trust, Ser 2024-A, Cl A3 | &nbsp;&nbsp;&nbsp;Tesla Auto Lease Trust, Ser 2024-A, Cl A3 | &nbsp;&nbsp;&nbsp;Tesla Auto Lease Trust, Ser 2024-A, Cl A3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.300%, 06/21/27 (A) | 807831 | 810286 |
| &nbsp;&nbsp;&nbsp;Tesla Auto Lease Trust, Ser 2024-B, Cl A2A | &nbsp;&nbsp;&nbsp;Tesla Auto Lease Trust, Ser 2024-B, Cl A2A | &nbsp;&nbsp;&nbsp;Tesla Auto Lease Trust, Ser 2024-B, Cl A2A |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.790%, 01/20/27 (A) | 159934 | 160049 |
| &nbsp;&nbsp;&nbsp;Tesla Auto Lease Trust, Ser 2024-B, Cl A3 | &nbsp;&nbsp;&nbsp;Tesla Auto Lease Trust, Ser 2024-B, Cl A3 | &nbsp;&nbsp;&nbsp;Tesla Auto Lease Trust, Ser 2024-B, Cl A3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.820%, 10/20/27 (A) | 500000 | 501914 |
| &nbsp;&nbsp;&nbsp;Tesla Electric Vehicle Trust, Ser 2023-1, Cl A2A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.540%, 12/21/26 (A) | 38029 | 38049 |
| &nbsp;&nbsp;&nbsp;Tesla Electric Vehicle Trust, Ser 2023-1, Cl A3 | &nbsp;&nbsp;&nbsp;Tesla Electric Vehicle Trust, Ser 2023-1, Cl A3 | &nbsp;&nbsp;&nbsp;Tesla Electric Vehicle Trust, Ser 2023-1, Cl A3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.380%, 06/20/28 (A) | 310000 | 312310 |
| &nbsp;&nbsp;&nbsp;Toyota Auto Receivables Owner Trust, Ser 2025-C, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.110%, 03/15/30 | 865000 | 869184 |
| &nbsp;&nbsp;&nbsp;Toyota Lease Owner Trust, Ser 2024-B, Cl A4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.250%, 01/22/29 (A) | 1500000 | 1501924 |
| &nbsp;&nbsp;&nbsp;Toyota Lease Owner Trust, Ser 2025-B, Cl A4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.970%, 01/22/30 (A) | 675000 | 672834 |

---

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS SHORT DURATION BOND FUND**

**OCTOBER 31, 2025**

**ASSET-BACKED SECURITIES — continued** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Face <br> Amount** | **Face <br> Amount** | **Value** | **Value** |
| &nbsp;&nbsp;&nbsp;USAA Auto Owner Trust, Ser 2023-A, Cl A3 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.580%, 05/15/28 (A) | $| 531109 | $| 534162 |
| &nbsp;&nbsp;&nbsp;Volkswagen Auto Lease Trust, Ser 2024-A, Cl A3 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.210%, 06/21/27 |  | 320000 |  | 322335 |
| &nbsp;&nbsp;&nbsp;Volkswagen Auto Lease Trust, Ser 2025-B, Cl A4 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 05/20/30 |  | 1770000 |  | 1769566 |
| &nbsp;&nbsp;&nbsp;Volkswagen Auto Loan Enhanced Trust, Ser 2024-1, Cl A3 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.630%, 07/20/29 |  | 710000 |  | 717585 |
| &nbsp;&nbsp;&nbsp;Westlake Automobile Receivables Trust, Ser 2023-P1, Cl A2 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.890%, 02/16/27 (A) |  | 32290 |  | 32332 |
| &nbsp;&nbsp;&nbsp;Wheels Fleet Lease Funding 1, Ser 2023-1A, Cl A |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.800%, 04/18/38 (A) |  | 566808 |  | 570251 |
| &nbsp;&nbsp;&nbsp;Wheels Fleet Lease Funding 1, Ser 2023-2A, Cl A |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.460%, 08/18/38 (A) |  | 586149 |  | 593545 |
| &nbsp;&nbsp;&nbsp;World Omni Auto Receivables Trust, Ser 2025-B, Cl A4 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.530%, 08/15/31 |  | 730000 |  | 740989 |
| &nbsp;&nbsp;&nbsp;World Omni Select Auto Trust, Ser 2023-A, Cl A3 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.650%, 07/17/28 |  | 276857 |  | 277513 |
|  |  |  |  | 51281027 |
| **Other Asset-Backed Securities — 9.4%** | **Other Asset-Backed Securities — 9.4%** | **Other Asset-Backed Securities — 9.4%** | **Other Asset-Backed Securities — 9.4%** | **Other Asset-Backed Securities — 9.4%** |
| &nbsp;&nbsp;&nbsp;Affirm Asset Securitization Trust, Ser 2024-A, Cl A |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.610%, 02/15/29 (A) |  | 550000 |  | 551800 |
| &nbsp;&nbsp;&nbsp;AGL CLO 33, Ser 2024-33A, Cl A1 | &nbsp;&nbsp;&nbsp;AGL CLO 33, Ser 2024-33A, Cl A1 | &nbsp;&nbsp;&nbsp;AGL CLO 33, Ser 2024-33A, Cl A1 | &nbsp;&nbsp;&nbsp;AGL CLO 33, Ser 2024-33A, Cl A1 | &nbsp;&nbsp;&nbsp;AGL CLO 33, Ser 2024-33A, Cl A1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.220%, TSFR3M + 1.350%, 07/21/37 (A)(B) |  | 2150000 |  | 2157394 |
| &nbsp;&nbsp;&nbsp;AGL CLO 7, Ser 2025-7A, Cl BR2 | &nbsp;&nbsp;&nbsp;AGL CLO 7, Ser 2025-7A, Cl BR2 | &nbsp;&nbsp;&nbsp;AGL CLO 7, Ser 2025-7A, Cl BR2 | &nbsp;&nbsp;&nbsp;AGL CLO 7, Ser 2025-7A, Cl BR2 | &nbsp;&nbsp;&nbsp;AGL CLO 7, Ser 2025-7A, Cl BR2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.505%, TSFR3M + 1.600%, 10/15/38 (A)(B) |  | 3260000 |  | 3262018 |
| &nbsp;&nbsp;&nbsp;Amur Equipment Finance Receivables XI, Ser 2022-2A, Cl A2 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.300%, 06/21/28 (A) |  | 58678 |  | 58807 |
| &nbsp;&nbsp;&nbsp;Amur Equipment Finance Receivables XIII, Ser 2024-1A, Cl A2 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.380%, 01/21/31 (A) |  | 183510 |  | 185486 |
| &nbsp;&nbsp;&nbsp;Amur Equipment Finance Receivables XIII, Ser 2024-1A, Cl B |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.370%, 01/21/31 (A) |  | 190000 |  | 193783 |

---

**ASSET-BACKED SECURITIES — continued** 

---

| | | |
|:---|:---|:---|
|  | **Face <br> Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;Amur Equipment Finance Receivables XV, Ser 2025-1A, Cl A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.700%, 09/22/31 (A) | $1030000 | $1038899 |
| &nbsp;&nbsp;&nbsp;Auxilior Term Funding, Ser 2023-1A, Cl A2 | &nbsp;&nbsp;&nbsp;Auxilior Term Funding, Ser 2023-1A, Cl A2 | &nbsp;&nbsp;&nbsp;Auxilior Term Funding, Ser 2023-1A, Cl A2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.180%, 12/15/28 (A) | 121893 | 122672 |
| &nbsp;&nbsp;&nbsp;Beechwood Park CLO, Ser 2025-1A, Cl B2RR | &nbsp;&nbsp;&nbsp;Beechwood Park CLO, Ser 2025-1A, Cl B2RR | &nbsp;&nbsp;&nbsp;Beechwood Park CLO, Ser 2025-1A, Cl B2RR |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;–%, TSFR3M + 1.450%, 01/17/35 (A)(B) | 1000000 | 1000000 |
| &nbsp;&nbsp;&nbsp;Blue Owl Asset Leasing Trust, Ser 2024-1A, Cl A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.050%, 03/15/29 (A) | 163555 | 164132 |
| &nbsp;&nbsp;&nbsp;Buttermilk Park CLO, Ser 2024-1A, Cl A1R | &nbsp;&nbsp;&nbsp;Buttermilk Park CLO, Ser 2024-1A, Cl A1R | &nbsp;&nbsp;&nbsp;Buttermilk Park CLO, Ser 2024-1A, Cl A1R |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.985%, TSFR3M + 1.080%, 10/15/31 (A)(B) | 982840 | 982316 |
| &nbsp;&nbsp;&nbsp;CCG Receivables Trust, Ser 2023-1, Cl A2 | &nbsp;&nbsp;&nbsp;CCG Receivables Trust, Ser 2023-1, Cl A2 | &nbsp;&nbsp;&nbsp;CCG Receivables Trust, Ser 2023-1, Cl A2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.820%, 09/16/30 (A) | 167061 | 167854 |
| &nbsp;&nbsp;&nbsp;Centersquare Issuer, Ser 2025-1A, Cl A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 03/26/55 (A) | 1050000 | 1046993 |
| &nbsp;&nbsp;&nbsp;CIFC Funding, Ser 2024-5A, Cl AR | &nbsp;&nbsp;&nbsp;CIFC Funding, Ser 2024-5A, Cl AR | &nbsp;&nbsp;&nbsp;CIFC Funding, Ser 2024-5A, Cl AR |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.292%, TSFR3M + 1.410%, 07/17/37 (A)(B) | 1275000 | 1277043 |
| &nbsp;&nbsp;&nbsp;Cloud Capital Holdco, Ser 2024-1A, Cl A2 | &nbsp;&nbsp;&nbsp;Cloud Capital Holdco, Ser 2024-1A, Cl A2 | &nbsp;&nbsp;&nbsp;Cloud Capital Holdco, Ser 2024-1A, Cl A2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.781%, 11/22/49 (A) | 1015000 | 1027313 |
| &nbsp;&nbsp;&nbsp;CNH Equipment Trust, Ser 2023-A, Cl A3 | &nbsp;&nbsp;&nbsp;CNH Equipment Trust, Ser 2023-A, Cl A3 | &nbsp;&nbsp;&nbsp;CNH Equipment Trust, Ser 2023-A, Cl A3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.810%, 08/15/28 | 764771 | 769150 |
| &nbsp;&nbsp;&nbsp;Dell Equipment Finance Trust, Ser 2023-2, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.650%, 01/22/29 (A) | 145259 | 145713 |
| &nbsp;&nbsp;&nbsp;Dell Equipment Finance Trust, Ser 2023-3, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.930%, 04/23/29 (A) | 342037 | 344174 |
| &nbsp;&nbsp;&nbsp;Dext ABS, Ser 2023-2, Cl A2 | &nbsp;&nbsp;&nbsp;Dext ABS, Ser 2023-2, Cl A2 | &nbsp;&nbsp;&nbsp;Dext ABS, Ser 2023-2, Cl A2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.560%, 05/15/34 (A) | 264748 | 266546 |
| &nbsp;&nbsp;&nbsp;DLLAA, Ser 2023-1A, Cl A3 | &nbsp;&nbsp;&nbsp;DLLAA, Ser 2023-1A, Cl A3 | &nbsp;&nbsp;&nbsp;DLLAA, Ser 2023-1A, Cl A3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.640%, 02/22/28 (A) | 424022 | 428373 |
| &nbsp;&nbsp;&nbsp;DLLAD, Ser 2023-1A, Cl A3 | &nbsp;&nbsp;&nbsp;DLLAD, Ser 2023-1A, Cl A3 | &nbsp;&nbsp;&nbsp;DLLAD, Ser 2023-1A, Cl A3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.790%, 01/20/28 (A) | 452559 | 454188 |
| &nbsp;&nbsp;&nbsp;DLLMT, Ser 2023-1A, Cl A3 | &nbsp;&nbsp;&nbsp;DLLMT, Ser 2023-1A, Cl A3 | &nbsp;&nbsp;&nbsp;DLLMT, Ser 2023-1A, Cl A3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.340%, 03/22/27 (A) | 760342 | 763799 |
| &nbsp;&nbsp;&nbsp;DLLST, Ser 2024-1A, Cl A3 | &nbsp;&nbsp;&nbsp;DLLST, Ser 2024-1A, Cl A3 | &nbsp;&nbsp;&nbsp;DLLST, Ser 2024-1A, Cl A3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.050%, 08/20/27 (A) | 229780 | 230671 |
| &nbsp;&nbsp;&nbsp;Frontier Issuer, Ser 2023-1, Cl A2 | &nbsp;&nbsp;&nbsp;Frontier Issuer, Ser 2023-1, Cl A2 | &nbsp;&nbsp;&nbsp;Frontier Issuer, Ser 2023-1, Cl A2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.600%, 08/20/53 (A) | 1000000 | 1012422 |

---

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS SHORT DURATION BOND FUND**

**OCTOBER 31, 2025**

**ASSET-BACKED SECURITIES — continued** 

---

| | | |
|:---|:---|:---|
|  | **Face <br> Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;Frontier Issuer, Ser 2023-1, Cl C | &nbsp;&nbsp;&nbsp;Frontier Issuer, Ser 2023-1, Cl C | &nbsp;&nbsp;&nbsp;Frontier Issuer, Ser 2023-1, Cl C |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.500%, 08/20/53 (A) | $1000000 | $1037097 |
| &nbsp;&nbsp;&nbsp;Frontier Issuer, Ser 2024-1, Cl A2 | &nbsp;&nbsp;&nbsp;Frontier Issuer, Ser 2024-1, Cl A2 | &nbsp;&nbsp;&nbsp;Frontier Issuer, Ser 2024-1, Cl A2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.190%, 06/20/54 (A) | 300000 | 308955 |
| &nbsp;&nbsp;&nbsp;GreatAmerica Leasing Receivables, Ser 2024-1, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.980%, 01/18/28 (A) | 585000 | 589860 |
| &nbsp;&nbsp;&nbsp;HPEFS Equipment Trust, Ser 2023-2A, Cl A3 | &nbsp;&nbsp;&nbsp;HPEFS Equipment Trust, Ser 2023-2A, Cl A3 | &nbsp;&nbsp;&nbsp;HPEFS Equipment Trust, Ser 2023-2A, Cl A3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.990%, 01/21/31 (A) | 31939 | 31961 |
| &nbsp;&nbsp;&nbsp;John Deere Owner Trust, Ser 2023-A, Cl A3 | &nbsp;&nbsp;&nbsp;John Deere Owner Trust, Ser 2023-A, Cl A3 | &nbsp;&nbsp;&nbsp;John Deere Owner Trust, Ser 2023-A, Cl A3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.010%, 11/15/27 | 430238 | 431963 |
| &nbsp;&nbsp;&nbsp;John Deere Owner Trust, Ser 2025-B, Cl A3 | &nbsp;&nbsp;&nbsp;John Deere Owner Trust, Ser 2025-B, Cl A3 | &nbsp;&nbsp;&nbsp;John Deere Owner Trust, Ser 2025-B, Cl A3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.170%, 12/17/29 | 1660000 | 1667364 |
| &nbsp;&nbsp;&nbsp;Kubota Credit Owner Trust, Ser 2024-2A, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.260%, 11/15/28 (A) | 1950000 | 1981946 |
| &nbsp;&nbsp;&nbsp;Madison Park Funding XLVI, Ser 2025-46A, Cl B1RR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.405%, TSFR3M + 1.500%, 10/15/34 (A)(B) | 2175000 | 2173845 |
| &nbsp;&nbsp;&nbsp;MMAF Equipment Finance, Ser 2021-A, Cl A5 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.190%, 11/13/43 (A) | 620000 | 612636 |
| &nbsp;&nbsp;&nbsp;MMAF Equipment Finance, Ser 2023-A, Cl A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.790%, 11/13/26 (A) | 110587 | 110746 |
| &nbsp;&nbsp;&nbsp;Mosaic Solar Loan Trust, Ser 2020-1A, Cl B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.100%, 04/20/46 (A) | 115200 | 100145 |
| &nbsp;&nbsp;&nbsp;Neuberger Berman Loan Advisers CLO 38, Ser 2025-38A, Cl AR2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.844%, TSFR3M + 0.960%, 10/20/36 (A)(B) | 2000000 | 1998536 |
| &nbsp;&nbsp;&nbsp;NYCTL 2025-A Trust, Ser 2025-A, Cl A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.840%, 11/10/38 (A) | 1512000 | 1508519 |
| &nbsp;&nbsp;&nbsp;Octagon Investment Partners 36, Ser 2018-1A, Cl A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.136%, TSFR3M + 0.970%, 04/15/31 (A)(B) | 91227 | 91240 |
| &nbsp;&nbsp;&nbsp;OHA Credit Funding 16-R, Ser 2025-16RA, Cl B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.434%, TSFR3M + 1.550%, 10/20/38 (A)(B) | 2175000 | 2175000 |
| &nbsp;&nbsp;&nbsp;PFS Financing, Ser 2024-B, Cl A | &nbsp;&nbsp;&nbsp;PFS Financing, Ser 2024-B, Cl A | &nbsp;&nbsp;&nbsp;PFS Financing, Ser 2024-B, Cl A |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.950%, 02/15/29 (A) | 2050000 | 2067979 |
| &nbsp;&nbsp;&nbsp;Progress Residential Trust, Ser 2024-SFR3, Cl A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 06/17/41 (A) | 951920 | 907375 |

---

**ASSET-BACKED SECURITIES — continued** 

---

| | | |
|:---|:---|:---|
|  | **Face <br> Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;Progress Residential Trust, Ser 2025-SFR1, Cl A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.400%, 02/17/42 (A) | $777868 | $744932 |
| &nbsp;&nbsp;&nbsp;Rad Clo 25, Ser 2024-25A, Cl A1 | &nbsp;&nbsp;&nbsp;Rad Clo 25, Ser 2024-25A, Cl A1 | &nbsp;&nbsp;&nbsp;Rad Clo 25, Ser 2024-25A, Cl A1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.344%, TSFR3M + 1.460%, 07/20/37 (A)(B) | 2200000 | 2206529 |
| &nbsp;&nbsp;&nbsp;Retained Vantage Data Centers Issuer, Ser 2024-1A, Cl A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.992%, 09/15/49 (A) | 765000 | 764684 |
| &nbsp;&nbsp;&nbsp;SCF Equipment Trust, Ser 2025-1A, Cl A2 | &nbsp;&nbsp;&nbsp;SCF Equipment Trust, Ser 2025-1A, Cl A2 | &nbsp;&nbsp;&nbsp;SCF Equipment Trust, Ser 2025-1A, Cl A2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.820%, 07/22/30 (A) | 79739 | 79953 |
| &nbsp;&nbsp;&nbsp;Stack Infrastructure Issuer, Ser 2025-1A, Cl A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 05/25/50 (A) | 1765000 | 1759057 |
| &nbsp;&nbsp;&nbsp;Sunnova Helios XI Issuer, Ser 2023-A, Cl A | &nbsp;&nbsp;&nbsp;Sunnova Helios XI Issuer, Ser 2023-A, Cl A | &nbsp;&nbsp;&nbsp;Sunnova Helios XI Issuer, Ser 2023-A, Cl A |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.300%, 05/20/50 (A) | 869741 | 797941 |
| &nbsp;&nbsp;&nbsp;Sunnova Helios XII Issuer, Ser 2023-B, Cl A | &nbsp;&nbsp;&nbsp;Sunnova Helios XII Issuer, Ser 2023-B, Cl A | &nbsp;&nbsp;&nbsp;Sunnova Helios XII Issuer, Ser 2023-B, Cl A |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.300%, 08/22/50 (A) | 852616 | 790978 |
| &nbsp;&nbsp;&nbsp;Sunnova Hestia I Issuer, Ser 2023-GRID1, Cl 1A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.750%, 12/20/50 (A) | 1401892 | 1414554 |
| &nbsp;&nbsp;&nbsp;Switch ABS Issuer, Ser 2025-1A, Cl A2 | &nbsp;&nbsp;&nbsp;Switch ABS Issuer, Ser 2025-1A, Cl A2 | &nbsp;&nbsp;&nbsp;Switch ABS Issuer, Ser 2025-1A, Cl A2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.036%, 03/25/55 (A) | 1000000 | 993098 |
| &nbsp;&nbsp;&nbsp;Switch ABS Issuer, Ser 2025-2A, Cl A21 | &nbsp;&nbsp;&nbsp;Switch ABS Issuer, Ser 2025-2A, Cl A21 | &nbsp;&nbsp;&nbsp;Switch ABS Issuer, Ser 2025-2A, Cl A21 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.121%, 10/25/55 (A) | 1090000 | 1091004 |
| &nbsp;&nbsp;&nbsp;Tesla Sustainable Energy Trust, Ser 2024-1A, Cl A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.080%, 06/21/50 (A) | 1261221 | 1263317 |
| &nbsp;&nbsp;&nbsp;T-Mobile US Trust, Ser 2024-2A, Cl A | &nbsp;&nbsp;&nbsp;T-Mobile US Trust, Ser 2024-2A, Cl A | &nbsp;&nbsp;&nbsp;T-Mobile US Trust, Ser 2024-2A, Cl A |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.250%, 05/21/29 (A) | 1900000 | 1905077 |
| &nbsp;&nbsp;&nbsp;VFI ABS, Ser 2023-1A, Cl A | &nbsp;&nbsp;&nbsp;VFI ABS, Ser 2023-1A, Cl A | &nbsp;&nbsp;&nbsp;VFI ABS, Ser 2023-1A, Cl A |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.270%, 03/26/29 (A) | 56381 | 56612 |
| &nbsp;&nbsp;&nbsp;Vivint Solar Financing V, Ser 2018-1A, Cl A | &nbsp;&nbsp;&nbsp;Vivint Solar Financing V, Ser 2018-1A, Cl A | &nbsp;&nbsp;&nbsp;Vivint Solar Financing V, Ser 2018-1A, Cl A |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.730%, 04/30/48 (A) | 400922 | 384005 |
| &nbsp;&nbsp;&nbsp;Vivint Solar Financing V, Ser 2018-1A, Cl B | &nbsp;&nbsp;&nbsp;Vivint Solar Financing V, Ser 2018-1A, Cl B | &nbsp;&nbsp;&nbsp;Vivint Solar Financing V, Ser 2018-1A, Cl B |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.370%, 04/30/48 (A) | 109696 | 106528 |
| &nbsp;&nbsp;&nbsp;Vivint Solar Financing VII, Ser 2020-1A, Cl B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.220%, 07/31/51 (A) | 835679 | 729014 |

---

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS SHORT DURATION BOND FUND**

**OCTOBER 31, 2025**

**ASSET-BACKED SECURITIES — continued**

---

| | | |
|:---|:---|:---|
|  | **Face <br> Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;Volvo Financial Equipment Series, Ser 2025-2A, Cl A4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.060%, 06/15/33 (A) | $748000 | $744794 |
|  |  | 51278790 |
| &nbsp;&nbsp;&nbsp;Total Asset-Backed Securities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $101,789,135) |  | 102559817 |
| **MORTGAGE-BACKED SECURITIES — 9.3%** | **MORTGAGE-BACKED SECURITIES — 9.3%** | **MORTGAGE-BACKED SECURITIES — 9.3%** |
| **Agency Mortgage-Backed Obligations — 4.2%** | **Agency Mortgage-Backed Obligations — 4.2%** | **Agency Mortgage-Backed Obligations — 4.2%** |
| &nbsp;&nbsp;&nbsp;FHLMC | &nbsp;&nbsp;&nbsp;FHLMC | &nbsp;&nbsp;&nbsp;FHLMC |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/01/35 | $79269 | $80471 |
| &nbsp;&nbsp;&nbsp;FHLMC Multifamily ML Certificates, Ser 2023-ML18, Cl XCA, IO |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.439%, 09/25/37 (B) | 16805556 | 1770432 |
| &nbsp;&nbsp;&nbsp;FHLMC, Ser 2003-2690, Cl TZ | &nbsp;&nbsp;&nbsp;FHLMC, Ser 2003-2690, Cl TZ | &nbsp;&nbsp;&nbsp;FHLMC, Ser 2003-2690, Cl TZ |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 10/15/33 | 792457 | 797086 |
| &nbsp;&nbsp;&nbsp;FHLMC, Ser 2017-4750, Cl PA | &nbsp;&nbsp;&nbsp;FHLMC, Ser 2017-4750, Cl PA | &nbsp;&nbsp;&nbsp;FHLMC, Ser 2017-4750, Cl PA |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 07/15/46 | 380597 | 369246 |
| &nbsp;&nbsp;&nbsp;FHLMC, Ser 2022-5243, Cl A | &nbsp;&nbsp;&nbsp;FHLMC, Ser 2022-5243, Cl A | &nbsp;&nbsp;&nbsp;FHLMC, Ser 2022-5243, Cl A |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/25/48 | 1929534 | 1946282 |
| &nbsp;&nbsp;&nbsp;FHLMC, Ser 2023-5290, Cl DE | &nbsp;&nbsp;&nbsp;FHLMC, Ser 2023-5290, Cl DE | &nbsp;&nbsp;&nbsp;FHLMC, Ser 2023-5290, Cl DE |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/25/44 | 1970599 | 1989572 |
| &nbsp;&nbsp;&nbsp;FNMA | &nbsp;&nbsp;&nbsp;FNMA | &nbsp;&nbsp;&nbsp;FNMA |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 03/01/34 | 61316 | 62132 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.500%, 11/01/34 | 189030 | 188025 |
| &nbsp;&nbsp;&nbsp;FNMA, Ser 2009-62, Cl WA | &nbsp;&nbsp;&nbsp;FNMA, Ser 2009-62, Cl WA | &nbsp;&nbsp;&nbsp;FNMA, Ser 2009-62, Cl WA |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.586%, 08/25/39 (B) | 11919 | 12012 |
| &nbsp;&nbsp;&nbsp;FNMA, Ser 2011-17, Cl ZM | &nbsp;&nbsp;&nbsp;FNMA, Ser 2011-17, Cl ZM | &nbsp;&nbsp;&nbsp;FNMA, Ser 2011-17, Cl ZM |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.500%, 03/25/31 | 967771 | 954225 |
| &nbsp;&nbsp;&nbsp;FNMA, Ser 2013-104, Cl TY | &nbsp;&nbsp;&nbsp;FNMA, Ser 2013-104, Cl TY | &nbsp;&nbsp;&nbsp;FNMA, Ser 2013-104, Cl TY |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 10/25/33 | 1920211 | 1856047 |
| &nbsp;&nbsp;&nbsp;FNMA, Ser 2013-43, Cl MB | &nbsp;&nbsp;&nbsp;FNMA, Ser 2013-43, Cl MB | &nbsp;&nbsp;&nbsp;FNMA, Ser 2013-43, Cl MB |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.500%, 05/25/33 | 744539 | 729062 |
| &nbsp;&nbsp;&nbsp;FNMA, Ser 2017-12, Cl KE | &nbsp;&nbsp;&nbsp;FNMA, Ser 2017-12, Cl KE | &nbsp;&nbsp;&nbsp;FNMA, Ser 2017-12, Cl KE |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 03/25/47 | 360832 | 346563 |
| &nbsp;&nbsp;&nbsp;FNMA, Ser 2017-19, Cl EA | &nbsp;&nbsp;&nbsp;FNMA, Ser 2017-19, Cl EA | &nbsp;&nbsp;&nbsp;FNMA, Ser 2017-19, Cl EA |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 03/25/47 | 875709 | 842717 |
| &nbsp;&nbsp;&nbsp;FNMA, Ser 2017-87, Cl P | &nbsp;&nbsp;&nbsp;FNMA, Ser 2017-87, Cl P | &nbsp;&nbsp;&nbsp;FNMA, Ser 2017-87, Cl P |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 02/25/46 | 891724 | 866072 |
| &nbsp;&nbsp;&nbsp;FNMA, Ser 2019-18, Cl A | &nbsp;&nbsp;&nbsp;FNMA, Ser 2019-18, Cl A | &nbsp;&nbsp;&nbsp;FNMA, Ser 2019-18, Cl A |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.500%, 05/25/49 | 403345 | 389536 |
| &nbsp;&nbsp;&nbsp;FNMA, Ser 2022-29, Cl MG | &nbsp;&nbsp;&nbsp;FNMA, Ser 2022-29, Cl MG | &nbsp;&nbsp;&nbsp;FNMA, Ser 2022-29, Cl MG |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 11/25/42 | 1025914 | 1031366 |
| &nbsp;&nbsp;&nbsp;FNMA, Ser 2022-72, Cl CB | &nbsp;&nbsp;&nbsp;FNMA, Ser 2022-72, Cl CB | &nbsp;&nbsp;&nbsp;FNMA, Ser 2022-72, Cl CB |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 07/25/39 | 2923100 | 2934191 |
| &nbsp;&nbsp;&nbsp;FNMA, Ser 2022-76, Cl HC | &nbsp;&nbsp;&nbsp;FNMA, Ser 2022-76, Cl HC | &nbsp;&nbsp;&nbsp;FNMA, Ser 2022-76, Cl HC |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/25/43 | 1745427 | 1760818 |
| &nbsp;&nbsp;&nbsp;FNMA, Ser 2024-58, Cl BA | &nbsp;&nbsp;&nbsp;FNMA, Ser 2024-58, Cl BA | &nbsp;&nbsp;&nbsp;FNMA, Ser 2024-58, Cl BA |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/25/53 | 1688637 | 1709820 |

---

**MORTGAGE-BACKED SECURITIES — continued** 

---

| | | |
|:---|:---|:---|
|  | **Face <br> Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;GNMA, Ser 2011-57, Cl BA | &nbsp;&nbsp;&nbsp;GNMA, Ser 2011-57, Cl BA | &nbsp;&nbsp;&nbsp;GNMA, Ser 2011-57, Cl BA |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 05/20/40 | 1027 | 1025 |
| &nbsp;&nbsp;&nbsp;GNMA, Ser 2017-99, Cl WA | &nbsp;&nbsp;&nbsp;GNMA, Ser 2017-99, Cl WA | &nbsp;&nbsp;&nbsp;GNMA, Ser 2017-99, Cl WA |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.969%, 12/20/32 (B) | 90679 | 91037 |
| &nbsp;&nbsp;&nbsp;GNMA, Ser 2022-177, Cl LA | &nbsp;&nbsp;&nbsp;GNMA, Ser 2022-177, Cl LA | &nbsp;&nbsp;&nbsp;GNMA, Ser 2022-177, Cl LA |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.500%, 01/20/52 | 102630 | 101565 |
| &nbsp;&nbsp;&nbsp;GNMA, Ser 2023-146, Cl CT | &nbsp;&nbsp;&nbsp;GNMA, Ser 2023-146, Cl CT | &nbsp;&nbsp;&nbsp;GNMA, Ser 2023-146, Cl CT |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 10/20/34 | 728669 | 729825 |
| &nbsp;&nbsp;&nbsp;GNMA, Ser 2023-49, Cl A | &nbsp;&nbsp;&nbsp;GNMA, Ser 2023-49, Cl A | &nbsp;&nbsp;&nbsp;GNMA, Ser 2023-49, Cl A |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 07/20/48 | 1359119 | 1355082 |
|  |  | 22914209 |
| **Non-Agency Mortgage-Backed Obligations — 5.1%** | **Non-Agency Mortgage-Backed Obligations — 5.1%** | **Non-Agency Mortgage-Backed Obligations — 5.1%** |
| &nbsp;&nbsp;&nbsp;Angel Oak Mortgage Trust, Ser 2024-5, Cl A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.950%, 07/25/68 (A)(E) | 826918 | 822830 |
| &nbsp;&nbsp;&nbsp;Angel Oak Mortgage Trust, Ser 2024-8, Cl A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.338%, 05/27/69 (A)(E) | 341361 | 342436 |
| &nbsp;&nbsp;&nbsp;Angel Oak Mortgage Trust, Ser 2024-9, Cl A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.138%, 09/25/69 (A)(E) | 1263620 | 1261339 |
| &nbsp;&nbsp;&nbsp;BANK, Ser 2018-BN10, Cl ASB | &nbsp;&nbsp;&nbsp;BANK, Ser 2018-BN10, Cl ASB | &nbsp;&nbsp;&nbsp;BANK, Ser 2018-BN10, Cl ASB |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.641%, 02/15/61 | 176879 | 175524 |
| &nbsp;&nbsp;&nbsp;BANK, Ser 2024-BNK48, Cl A1 | &nbsp;&nbsp;&nbsp;BANK, Ser 2024-BNK48, Cl A1 | &nbsp;&nbsp;&nbsp;BANK, Ser 2024-BNK48, Cl A1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.333%, 10/15/57 | 334309 | 333694 |
| &nbsp;&nbsp;&nbsp;BBCMS Mortgage Trust, Ser 2024-C28, Cl A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.910%, 09/15/57 | 655751 | 661989 |
| &nbsp;&nbsp;&nbsp;BBCMS Mortgage Trust, Ser 2024-C30, Cl A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.902%, 11/15/57 | 1015698 | 1027837 |
| &nbsp;&nbsp;&nbsp;BBCMS Mortgage Trust, Ser 2025-C32, Cl A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.968%, 02/15/62 | 789187 | 800285 |
| &nbsp;&nbsp;&nbsp;BBCMS Trust, Ser 2015-SRCH, Cl A2 | &nbsp;&nbsp;&nbsp;BBCMS Trust, Ser 2015-SRCH, Cl A2 | &nbsp;&nbsp;&nbsp;BBCMS Trust, Ser 2015-SRCH, Cl A2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.197%, 08/10/35 (A) | 1435000 | 1406900 |
| &nbsp;&nbsp;&nbsp;BRAVO Residential Funding Trust, Ser 2024-NQM5, Cl A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.803%, 06/25/64 (A)(E) | 1408741 | 1419615 |
| &nbsp;&nbsp;&nbsp;BX Commercial Mortgage Trust, Ser 2022-AHP, Cl A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.022%, TSFR1M + 0.990%, 01/17/39 (A)(B) | 492000 | 491385 |
| &nbsp;&nbsp;&nbsp;BX Commercial Mortgage Trust, Ser 2022-AHP, Cl AS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.522%, TSFR1M + 1.490%, 01/17/39 (A)(B) | 2500000 | 2496094 |
| &nbsp;&nbsp;&nbsp;BX Commercial Mortgage Trust, Ser 2022-AHP, Cl B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.872%, TSFR1M + 1.840%, 01/17/39 (A)(B) | 1750000 | 1746719 |
| &nbsp;&nbsp;&nbsp;BX Trust, Ser 2022-CLS, Cl B | &nbsp;&nbsp;&nbsp;BX Trust, Ser 2022-CLS, Cl B | &nbsp;&nbsp;&nbsp;BX Trust, Ser 2022-CLS, Cl B |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.300%, 10/13/27 (A) | 2200000 | 2214828 |

---

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS SHORT DURATION BOND FUND**

**OCTOBER 31, 2025**

**MORTGAGE-BACKED SECURITIES — continued** 

---

| | | |
|:---|:---|:---|
|  | **Face <br> Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;CHI Commercial Mortgage Trust, Ser SFT, Cl A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.482%, 04/15/42 (A)(B) | $250000 | $256421 |
| &nbsp;&nbsp;&nbsp;CHI Commercial Mortgage Trust, Ser SFT, Cl XA, IO |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.300%, 04/15/42 (A)(B) | 975000 | 9224 |
| &nbsp;&nbsp;&nbsp;COLT, Ser 2025-1, Cl A1 | &nbsp;&nbsp;&nbsp;COLT, Ser 2025-1, Cl A1 | &nbsp;&nbsp;&nbsp;COLT, Ser 2025-1, Cl A1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.699%, 01/25/70 (A)(E) | 611265 | 616325 |
| &nbsp;&nbsp;&nbsp;FREMF Mortgage Trust, Ser 2019-K89, Cl B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.290%, 01/25/51 (A)(B) | 1400000 | 1394186 |
| &nbsp;&nbsp;&nbsp;FREMF Mortgage Trust, Ser 2019-K94, Cl B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.964%, 07/25/52 (A)(B) | 1262000 | 1236681 |
| &nbsp;&nbsp;&nbsp;GCAT Trust, Ser 2024-NQM2, Cl A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.085%, 06/25/59 (A)(E) | 772374 | 780172 |
| &nbsp;&nbsp;&nbsp;GCAT Trust, Ser 2025-NQM5, Cl A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.981%, 08/25/70 (A)(B) | 1052218 | 1051029 |
| &nbsp;&nbsp;&nbsp;GSR Mortgage Loan Trust, Ser 2004-9, Cl 3A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.916%, 08/25/34 (B) | 7448 | 7108 |
| &nbsp;&nbsp;&nbsp;Hudson Yards Mortgage Trust, Ser 2016-10HY, Cl A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.835%, 08/10/38 (A) | 1000000 | 984173 |
| &nbsp;&nbsp;&nbsp;MAC Trust, Ser 2025-801B, Cl A | &nbsp;&nbsp;&nbsp;MAC Trust, Ser 2025-801B, Cl A | &nbsp;&nbsp;&nbsp;MAC Trust, Ser 2025-801B, Cl A |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.732%, TSFR1M + 1.700%, 10/15/40 (A)(B) | 250000 | 250414 |
| &nbsp;&nbsp;&nbsp;Manhattan West Mortgage Trust, Ser 2020-1MW, Cl C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.335%, 09/10/39 (A)(B) | 214000 | 203654 |
| &nbsp;&nbsp;&nbsp;MHC Commercial Mortgage Trust, Ser 2021-MHC, Cl A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.947%, TSFR1M + 0.915%, 04/15/38 (A)(B) | 573778 | 573598 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley Residential Mortgage Loan Trust, Ser 2024-3, Cl A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 07/25/54 (A)(B) | 220154 | 223170 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley Residential Mortgage Loan Trust, Ser 2025-NQM1, Cl A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.738%, 11/25/69 (A)(B) | 890026 | 897603 |
| &nbsp;&nbsp;&nbsp;OBX Trust, Ser 2023-NQM2, Cl A1 | &nbsp;&nbsp;&nbsp;OBX Trust, Ser 2023-NQM2, Cl A1 | &nbsp;&nbsp;&nbsp;OBX Trust, Ser 2023-NQM2, Cl A1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.319%, 01/25/62 (A)(E) | 594327 | 594688 |
| &nbsp;&nbsp;&nbsp;OBX Trust, Ser 2024-NQM13, Cl A1 | &nbsp;&nbsp;&nbsp;OBX Trust, Ser 2024-NQM13, Cl A1 | &nbsp;&nbsp;&nbsp;OBX Trust, Ser 2024-NQM13, Cl A1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.116%, 06/25/64 (A) | 231812 | 231930 |
| &nbsp;&nbsp;&nbsp;OBX Trust, Ser 2024-NQM15, Cl A1 | &nbsp;&nbsp;&nbsp;OBX Trust, Ser 2024-NQM15, Cl A1 | &nbsp;&nbsp;&nbsp;OBX Trust, Ser 2024-NQM15, Cl A1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.316%, 10/25/64 (A)(E) | 448519 | 450275 |

---

**MORTGAGE-BACKED SECURITIES — continued** 

---

| | | |
|:---|:---|:---|
|  | **Face <br> Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;OBX Trust, Ser 2024-NQM7, Cl A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.243%, 03/25/64 (A)(E) | $519538 | $525902 |
| &nbsp;&nbsp;&nbsp;Sequoia Mortgage Trust, Ser 2013-2, Cl A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.874%, 02/25/43 (B) | 66251 | 57155 |
| &nbsp;&nbsp;&nbsp;STWD Mortgage Trust, Ser 2021-LIH, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.452%, TSFR1M + 2.419%, 11/15/36 (A)(B) | 450000 | 449165 |
| &nbsp;&nbsp;&nbsp;Verus Securitization Trust, Ser 2024-4, Cl A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.218%, 06/25/69 (A)(E) | 713605 | 723236 |
| &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust, Ser 2024-C63, Cl A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.894%, 08/15/57 | 749886 | 757496 |
| &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust, Ser 609M, Cl A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.575%, TSFR1M + 1.542%, 08/15/42 (A)(B) | 250000 | 249687 |
|  |  | 27724767 |
| &nbsp;&nbsp;&nbsp;Total Mortgage-Backed Securities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $49,139,967) |  | 50638976 |
| **MUNICIPAL BONDS — 4.1%** |  |  |
| **California — 0.9%** |  |  |
| &nbsp;&nbsp;&nbsp;California Community Choice Financing Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.125%, 04/01/30 | $1420000 | $1475700 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.950%, 08/01/29 | 825000 | 843754 |
| &nbsp;&nbsp;&nbsp;California State Public Works Board, Ser D, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.770%, 11/01/26 | 135000 | 134792 |
| &nbsp;&nbsp;&nbsp;Mount Diablo Unified School District, Ser B-NE, GO |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.548%, 08/01/27 | 280000 | 284377 |
| &nbsp;&nbsp;&nbsp;San Diego Unified School District, GO |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.915%, 07/01/28 | 600000 | 602471 |
| &nbsp;&nbsp;&nbsp;San Francisco City & County Public Utilities Commission Wastewater Revenue, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.655%, 10/01/27 | 1400000 | 1419828 |
|  |  | 4760922 |
| **Colorado — 0.1%** |  |  |
| &nbsp;&nbsp;&nbsp;Broomfield Urban Renewal Authority, TA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.700%, 12/01/28 | 800000 | 816629 |

---

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS SHORT DURATION BOND FUND**

**OCTOBER 31, 2025**

**MUNICIPAL BONDS — continued** 

---

| | | |
|:---|:---|:---|
|  | **Face <br> Amount** | **Value** |
| **Hawaii — 0.1%** | **Hawaii — 0.1%** | **Hawaii — 0.1%** |
| &nbsp;&nbsp;&nbsp;State of Hawaii Department of Business Economic Development & Tourism, Ser A-2, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.242%, 01/01/31 | $650632 | $640793 |
| **Illinois — 0.2%** | **Illinois — 0.2%** | **Illinois — 0.2%** |
| &nbsp;&nbsp;&nbsp;Chicago Housing Authority, Ser B, RB | &nbsp;&nbsp;&nbsp;Chicago Housing Authority, Ser B, RB | &nbsp;&nbsp;&nbsp;Chicago Housing Authority, Ser B, RB |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.822%, 01/01/26 | 250000 | 249904 |
| &nbsp;&nbsp;&nbsp;Village of Deerfield Illinois, Ser B, GO | &nbsp;&nbsp;&nbsp;Village of Deerfield Illinois, Ser B, GO | &nbsp;&nbsp;&nbsp;Village of Deerfield Illinois, Ser B, GO |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 12/01/28 | 1250000 | 1249071 |
|  |  | 1498975 |
| **Indiana — 0.0%** | **Indiana — 0.0%** | **Indiana — 0.0%** |
| &nbsp;&nbsp;&nbsp;City of Fort Wayne Indiana, RB | &nbsp;&nbsp;&nbsp;City of Fort Wayne Indiana, RB | &nbsp;&nbsp;&nbsp;City of Fort Wayne Indiana, RB |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.750%, 12/01/29 | 117179 | 12 |
| **Iowa — 0.0%** | **Iowa — 0.0%** | **Iowa — 0.0%** |
| &nbsp;&nbsp;&nbsp;Iowa Finance Authority, RB | &nbsp;&nbsp;&nbsp;Iowa Finance Authority, RB | &nbsp;&nbsp;&nbsp;Iowa Finance Authority, RB |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.000%, 11/01/27 (A) | 250000 | 253288 |
| **Louisiana — 0.1%** | **Louisiana — 0.1%** | **Louisiana — 0.1%** |
| &nbsp;&nbsp;&nbsp;Louisiana Local Government Environmental Facilities & Community Development Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.615%, 02/01/29 | 394307 | 392788 |
| **Maryland — 0.1%** | **Maryland — 0.1%** | **Maryland — 0.1%** |
| &nbsp;&nbsp;&nbsp;Montgomery County Housing Opportunities Commission, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.412%, 12/01/27 | 350000 | 355245 |
| **New Hampshire — 0.7%** | **New Hampshire — 0.7%** | **New Hampshire — 0.7%** |
| &nbsp;&nbsp;&nbsp;New Hampshire Business Finance Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.400%, 02/01/29 (A)(B) | 2500000 | 2500000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.270%, 07/01/33 (A)(B) | 850000 | 850000 |
|  |  | 3350000 |
| **New Jersey — 0.6%** | **New Jersey — 0.6%** | **New Jersey — 0.6%** |
| &nbsp;&nbsp;&nbsp;Jersey City Municipal Utilities Authority, Ser B, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.800%, 05/01/26 | 450000 | 450491 |
| &nbsp;&nbsp;&nbsp;New Jersey Economic Development Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.984%, 03/01/27 | 1000000 | 1010841 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.927%, 03/01/26 | 1000000 | 1002126 |
| &nbsp;&nbsp;&nbsp;New Jersey Transportation Trust Fund Authority, Ser BB, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.608%, 06/15/26 | 510000 | 511808 |
|  |  | 2975266 |

---

**MUNICIPAL BONDS — continued** 

---

| | | |
|:---|:---|:---|
|  | **Face <br> Amount** | **Value** |
| **New York — 0.2%** | **New York — 0.2%** | **New York — 0.2%** |
| &nbsp;&nbsp;&nbsp;New York State Energy Research & Development Authority, Ser A, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.222%, 04/01/40 | $600000 | $622971 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.822%, 04/01/27 | 665000 | 667625 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.739%, 04/01/26 | 250000 | 250280 |
|  |  | 1540876 |
| **Oklahoma — 0.1%** | **Oklahoma — 0.1%** | **Oklahoma — 0.1%** |
| &nbsp;&nbsp;&nbsp;Oklahoma Development Finance Authority, Ser C, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.450%, 08/15/28 | 600000 | 611852 |
| **Oregon — 0.3%** | **Oregon — 0.3%** | **Oregon — 0.3%** |
| &nbsp;&nbsp;&nbsp;Warm Springs Reservation Confederated Tribe, Ser S, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.370%, 11/01/27 (A) | 1000000 | 958051 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.165%, 11/01/26 (A) | 500000 | 488298 |
|  |  | 1446349 |
| **Pennsylvania — 0.4%** | **Pennsylvania — 0.4%** | **Pennsylvania — 0.4%** |
| &nbsp;&nbsp;&nbsp;Philadelphia Authority for Industrial Development, Ser A, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.350%, 04/15/28 | 2025000 | 2105824 |
| **South Dakota — 0.0%** | **South Dakota — 0.0%** | **South Dakota — 0.0%** |
| &nbsp;&nbsp;&nbsp;South Dakota Housing Development Authority, Ser E, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.460%, 05/01/53 | 210000 | 213510 |
| **Texas — 0.1%** | **Texas — 0.1%** | **Texas — 0.1%** |
| &nbsp;&nbsp;&nbsp;Hidalgo County Drain District No. 1, GO | &nbsp;&nbsp;&nbsp;Hidalgo County Drain District No. 1, GO | &nbsp;&nbsp;&nbsp;Hidalgo County Drain District No. 1, GO |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.939%, 09/01/26 | 500000 | 499771 |
| **West Virginia — 0.2%** | **West Virginia — 0.2%** | **West Virginia — 0.2%** |
| &nbsp;&nbsp;&nbsp;Tobacco Settlement Finance Authority, RB | &nbsp;&nbsp;&nbsp;Tobacco Settlement Finance Authority, RB | &nbsp;&nbsp;&nbsp;Tobacco Settlement Finance Authority, RB |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.351%, 06/01/28 | 1000000 | 953228 |
| &nbsp;&nbsp;&nbsp;Total Municipal Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $22,255,548) |  | 22415328 |

---

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS SHORT DURATION BOND FUND**

**OCTOBER 31, 2025**

**SOVEREIGN DEBT — 1.0%**

---

| | | |
|:---|:---|:---|
|  | **Face <br> Amount** | **Value** |
| **CANADA — 0.2%** | **CANADA — 0.2%** | **CANADA — 0.2%** |
| &nbsp;&nbsp;&nbsp;CDP Financial MTN | &nbsp;&nbsp;&nbsp;CDP Financial MTN | &nbsp;&nbsp;&nbsp;CDP Financial MTN |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.000%, 05/26/26(A) | $1000000 | $983609 |
| **IRELAND — 0.4%** | **IRELAND — 0.4%** | **IRELAND — 0.4%** |
| &nbsp;&nbsp;&nbsp;BB Blue Financing DAC | &nbsp;&nbsp;&nbsp;BB Blue Financing DAC | &nbsp;&nbsp;&nbsp;BB Blue Financing DAC |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.395%, 09/20/29 | 2500000 | 2436445 |
| **JAPAN — 0.1%** | **JAPAN — 0.1%** | **JAPAN — 0.1%** |
| &nbsp;&nbsp;&nbsp;Japan Bank for International Cooperation | &nbsp;&nbsp;&nbsp;Japan Bank for International Cooperation | &nbsp;&nbsp;&nbsp;Japan Bank for International Cooperation |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.625%, 01/20/27 | 500000 | 486849 |
| &nbsp;&nbsp;&nbsp;Japan International Cooperation Agency | &nbsp;&nbsp;&nbsp;Japan International Cooperation Agency | &nbsp;&nbsp;&nbsp;Japan International Cooperation Agency |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.250%, 05/22/30 | 230000 | 233138 |
|  |  | 719987 |
| **NETHERLANDS — 0.1%** | **NETHERLANDS — 0.1%** | **NETHERLANDS — 0.1%** |
| &nbsp;&nbsp;&nbsp;Nederlandse Waterschapsbank | &nbsp;&nbsp;&nbsp;Nederlandse Waterschapsbank | &nbsp;&nbsp;&nbsp;Nederlandse Waterschapsbank |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 01/16/30(A) | 250000 | 256597 |
| **SOUTH KOREA — 0.0%** | **SOUTH KOREA — 0.0%** | **SOUTH KOREA — 0.0%** |
| &nbsp;&nbsp;&nbsp;Korea Electric Power | &nbsp;&nbsp;&nbsp;Korea Electric Power | &nbsp;&nbsp;&nbsp;Korea Electric Power |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.875%, 01/31/27(A) | 250000 | 252291 |
| **SWEDEN — 0.2%** | **SWEDEN — 0.2%** | **SWEDEN — 0.2%** |
| &nbsp;&nbsp;&nbsp;Kommuninvest I Sverige | &nbsp;&nbsp;&nbsp;Kommuninvest I Sverige | &nbsp;&nbsp;&nbsp;Kommuninvest I Sverige |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.625%, 09/29/28(A) | 1000000 | 1025541 |
| &nbsp;&nbsp;&nbsp;Total Sovereign Debt |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $5,679,515) |  | 5674470 |
| **REPURCHASE AGREEMENTS — 0.7%** | **REPURCHASE AGREEMENTS — 0.7%** | **REPURCHASE AGREEMENTS — 0.7%** |
| &nbsp;&nbsp;&nbsp;Barclays Capital | &nbsp;&nbsp;&nbsp;Barclays Capital | &nbsp;&nbsp;&nbsp;Barclays Capital |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.150%, dated 10/31/25, to be repurchased on 11/03/25, repurchase price $2,000,692 (collateralized by a U.S. Treasury Obligation, par value $2,025,500, 3.875%, 04/30/2030; with total market value $2,040,063) | $2000000 | $2000000 |

---

**REPURCHASE AGREEMENTS — continued** 

---

| | | |
|:---|:---|:---|
|  | **Face <br> Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;Socgen Triparty Treasury |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.150%, dated 10/31/25, to be repurchased on 11/03/25, repurchase price $2,100,726 (collateralized by a U.S. Treasury Obligation, par value $2,150,700, 4.500%, 11/15/2054; with total market value $2,142,054) | $2100000 | $2100000 |
| &nbsp;&nbsp;&nbsp;Total Repurchase Agreements |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $4,100,000) |  | 4100000 |
| **BANK LOAN OBLIGATIONS — 0.3%** | **BANK LOAN OBLIGATIONS — 0.3%** |  |
| **ECOLOGICAL SERVICES & EQUIPMENT — 0.3%** | **ECOLOGICAL SERVICES & EQUIPMENT — 0.3%** |  |
| &nbsp;&nbsp;&nbsp;LTR Intermediate Holdings Term Loan |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.460%, 05/05/28 | $247416 | $247416 |
| &nbsp;&nbsp;&nbsp;Terraform Power Operating Specified Refinancing Term Loan |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.002%, TSFR1M + 2.500%, 05/21/29(B) | 1620917 | 1615519 |
|  |  | 1862935 |
| &nbsp;&nbsp;&nbsp;Total Bank Loan Obligations |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $1,866,972) |  | 1862935 |
| **U.S. GOVERNMENT AGENCY OBLIGATIONS — 0.2%** | **U.S. GOVERNMENT AGENCY OBLIGATIONS — 0.2%** |  |
| &nbsp;&nbsp;&nbsp;Export-Import Bank of the United States |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.628%, 11/12/26 | $690386 | $682338 |
| &nbsp;&nbsp;&nbsp;United States International Development Finance |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.790%, 10/15/29 | 250689 | 239431 |
| &nbsp;&nbsp;&nbsp;Total U.S. Government Agency Obligations |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $935,829) |  | 921769 |

---

**SHORT-TERM INVESTMENT — 0.2%** 

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;State Street Institutional U.S. Government Money Market Fund, Institutional Class, 4.290%, (F) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $1,087,515) | 1087515 | $1087515 |
| &nbsp;&nbsp;&nbsp;Total Short-Term Investment |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $1,087,515) |  | 1087515 |

---

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS SHORT DURATION BOND FUND**

**OCTOBER 31, 2025**

**SHORT-TERM INVESTMENT — continued** 

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;Total Investments in Securities— 99.9% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $541,079,528) |  | $546713367 |

---

Percentages are based on Net Assets of $547,067,385.

A list of the open futures contracts held by the Fund at October 31, 2025, is as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Type of Contract | Number of Contracts | Expiration Date | Notional Amount | Value | Unrealized Appreciation/ (Depreciation) |
| Long Contracts | Long Contracts | Long Contracts | Long Contracts | Long Contracts | Long Contracts |
| &nbsp;&nbsp;&nbsp;U.S. 2-Year Treasury Note | 410 | Dec-2025 | $85430788 | $85379297 | $(51491) |
| Short Contracts | Short Contracts | Short Contracts | Short Contracts | Short Contracts | Short Contracts |
| &nbsp;&nbsp;&nbsp;U.S. 5-Year Treasury Note | (213) | Dec-2025 | (23368183) | (23261930) | 106253 |
|  |  |  | $62062605 | $62117367 | $54762 |

---

&nbsp;&nbsp;&nbsp;&nbsp;‡ Real Estate Investment Trust.

(A) Securities sold within the terms of a private placement memorandum,
 exempt from registration under section 144A of the Securities Act of 1933, as amended, and maybe sold only to dealers in the program or
 other "accredited investors". The total value of these securities at October 31, 2025 was $165,487,620 and represented 30.2% of
 Net Assets.

(B) Variable or floating rate security. The rate shown is the effective
 interest rate as of period end. The rates for certain securities are not based on published reference rates and spreads and are either
 determined by the issuer or agent based on current market conditions; by using a formula based on the rates of underlying loans; or by
 adjusting periodically based on prevailing interest rates.

(C) Zero coupon security.

(D) This security or a partial position of this security is on loan
 at October 31, 2025. The total market value of securities on loan at October 31, 2025 was $1,064,855.

(E) Step coupon security. Coupon rate will either increase (step-up
 bond) or decrease (step-down bond) at regular intervals until maturity. Interest rate shown reflects the rate currently in effect.

(F) This security was purchased with cash collateral received from
 securities lending. The total was of such securities as of October 31, 2025, was $1,087,515.

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS SHORT DURATION BOND FUND**

**OCTOBER 31, 2025**

ABS — Asset-Backed Security

Cl — Class

CLO — Collateralized Loan Obligation

DAC — Designated Activity Company

FHLMC — Federal Home Loan Mortgage Corporation

FNMA — Federal National Mortgage Association

FREMF— Freddie Mac Multi-Family

GNMA — Government National Mortgage Association

GO — General Obligation

H15T1Y — US Treasury Yield Curve Rate T Note Constant Maturity 1 Year

IO — Interest Only — face amount represents notional amount

MTN — Medium Term Note

RB — Revenue Bond

Ser — Series

SOFRINDX — Secured Overnight Financing Rate Index

SOFRRATE — Secured Overnight Financing Rate

TA — Tax Allocation

TSFR1M — Term Secured Overnight Financing Rate 1 Month

TSFR3M — Term Secured Overnight Financing Rate 3 Month

The following is a summary of the inputs used as of October 31, 2025, in valuing the Fund's investments carried at market value:

---

| | | | | |
|:---|:---|:---|:---|:---|
| Investments in Securities | Level 1 | Level 2 | Level 3 | Total |
| &nbsp;&nbsp;&nbsp;Corporate Obligations | $— | $204274145 | $— | $204274145 |
| &nbsp;&nbsp;&nbsp;U.S. Treasury Obligations |  | 153178412 |  | 153178412 |
| &nbsp;&nbsp;&nbsp;Asset-Backed Securities |  | 102559817 |  | 102559817 |
| &nbsp;&nbsp;&nbsp;Mortgage-Backed Securities |  | 50638976 |  | 50638976 |
| &nbsp;&nbsp;&nbsp;Municipal Bonds |  | 22415328 |  | 22415328 |
| &nbsp;&nbsp;&nbsp;Sovereign Debt |  | 5674470 |  | 5674470 |
| &nbsp;&nbsp;&nbsp;Repurchase Agreements |  | 4100000 |  | 4100000 |
| &nbsp;&nbsp;&nbsp;Bank Loan Obligations |  | 1862935 |  | 1862935 |
| &nbsp;&nbsp;&nbsp;U.S. Government Agency Obligations |  | 921769 |  | 921769 |
| &nbsp;&nbsp;&nbsp;Short-Term Investment | 1087515 |  |  | 1087515 |
| Total Investments in Securities | $1087515 | $545625852 | $— | $546713367 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| Other Financial Instruments | Level 1 | Level 2 | Level 3 | Total |
| &nbsp;&nbsp;&nbsp;Futures Contracts\* | &nbsp;&nbsp;&nbsp;Futures Contracts\* | &nbsp;&nbsp;&nbsp;Futures Contracts\* | &nbsp;&nbsp;&nbsp;Futures Contracts\* | &nbsp;&nbsp;&nbsp;Futures Contracts\* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unrealized Appreciation | $106253 | $– | $– | $106253 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unrealized Depreciation | (51491) | – | – | (51491) |
| Total Other Financial Instruments | $54762 | $– | $– | $54762 |

---

\* Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument.

Amounts designated as "–" are $0.

For more information on valuation inputs, see Note 2 — Significant Accounting Policies in the Notes to Financial Statements.

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS BOND FUND**

**OCTOBER 31, 2025**

**SCHEDULE OF INVESTMENTS** 

**U.S. TREASURY OBLIGATIONS — 32.7%** 

---

| | | |
|:---|:---|:---|
|  | **Face <br> Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;U.S. Treasury Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 05/15/45 | $4100000 | $4287062 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.875%, 08/15/45 | 7955000 | 8190396 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.750%, 11/15/43 | 5420000 | 5520566 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.750%, 02/15/45 | 5460000 | 5531662 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.750%, 11/15/53 | 1785000 | 1805360 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.750%, 05/15/55 | 53955000 | 54659669 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.625%, 05/15/44 | 19110000 | 19105521 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.625%, 11/15/44 | 6230000 | 6217345 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.625%, 05/15/54 | 2420000 | 2397880 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.625%, 02/15/55 | 20305000 | 20148139 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 02/15/44 | 13848000 | 13641058 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 11/15/54 | 2960000 | 2876634 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.375%, 08/15/43 | 2740000 | 2665078 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.250%, 02/15/54 | 185000 | 172419 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.250%, 08/15/54 | 965000 | 899146 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.125%, 08/15/44 | 11220000 | 10495177 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.125%, 08/15/53 | 14912000 | 13600500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.875%, 05/15/43 | 3615000 | 3302077 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.625%, 05/15/53 | 165000 | 137614 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.375%, 08/15/42 | 6970000 | 5983582 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 02/15/49 | 615000 | 465214 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 08/15/52 | 4522000 | 3339038 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.875%, 05/15/43 | 5705000 | 4507173 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.500%, 02/15/45 | 14955000 | 10830107 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.500%, 02/15/46 | 870000 | 620589 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.500%, 05/15/46 | 210000 | 149289 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.375%, 02/15/42 | 870000 | 650393 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.250%, 08/15/46 | 1805000 | 1218022 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.250%, 02/15/52 | 5235000 | 3284553 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.000%, 11/15/41 | 1305000 | 924817 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.000%, 02/15/50 | 4745000 | 2870354 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.000%, 08/15/51 | 6755000 | 4004448 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.875%, 02/15/41 | 935000 | 662754 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.875%, 02/15/51 | 325000 | 187878 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.875%, 11/15/51 | 3200000 | 1831625 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.750%, 08/15/41 | 9530000 | 6525072 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.625%, 11/15/50 | 12805000 | 6961578 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.375%, 08/15/50 | 12530000 | 6385895 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.250%, 05/15/50 | 17155000 | 8523891 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.125%, 08/15/40 | 3465000 | 2205012 |
| &nbsp;&nbsp;&nbsp;U.S. Treasury Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.625%, 04/30/29 | 16000000 | 16516250 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.375%, 11/30/28 | 3995000 | 4082547 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.375%, 11/30/30 | 2650000 | 2728879 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.375%, 01/31/32 | 21080000 | 21707459 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.250%, 06/30/31 | 17325000 | 17732408 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.250%, 05/15/35 | 19864000 | 20121611 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.250%, 08/15/35 | 40943800 | 41451698 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.125%, 10/31/29 | 6770000 | 6884508 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.125%, 11/30/29 | 925000 | 940826 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.125%, 07/31/31 | 5825000 | 5926255 |

---

**U.S. TREASURY OBLIGATIONS — continued** 

---

| | | |
|:---|:---|:---|
|  | **Face <br> Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.125%, 11/30/31 | $8020000 | $8151578 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.011%, USBMMY3M + 0.159%, 07/31/27(A) | 30960000 | 30953731 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 10/31/29 | 4922000 | 4983140 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 03/31/30 | 350000 | 354430 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 05/31/30 | 2095000 | 2122251 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 04/30/32 | 2080000 | 2097469 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.875%, 07/31/27 | 1805000 | 1812615 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.875%, 07/15/28 | 41340000 | 41627442 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.875%, 04/30/30 | 3345000 | 3370741 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.875%, 07/31/30 | 9005000 | 9068176 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.875%, 08/15/34 | 90570000 | 89522784 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.864%, USBMMY3M + 0.098%, 01/31/27(A) | 17860000 | 17841098 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.750%, 05/31/30 | 3410000 | 3417726 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.625%, 08/15/28 | 2965000 | 2967085 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.625%, 08/31/30 | 11780000 | 11733064 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.625%, 09/30/30 | 7955800 | 7923050 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.625%, 10/31/30 | 110030000 | 109625983 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.625%, 09/30/31 | 13155000 | 13031672 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.500%, 09/30/27 | 5995000 | 5983525 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.500%, 10/15/28 | 2610000 | 2602863 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.500%, 09/30/29 | 4595000 | 4568615 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.375%, 09/15/28 | 1570000 | 1560433 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.750%, 05/31/29 | 2100000 | 2037738 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.625%, 05/15/31 | 8150000 | 7286291 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.500%, 11/30/28 | 965000 | 906044 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.375%, 11/15/31 | 13895000 | 12081051 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.250%, 06/30/28 | 19530000 | 18375747 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.250%, 08/15/31 | 2695000 | 2341808 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.125%, 02/15/31 | 2385000 | 2093490 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.625%, 05/15/30 | 5175000 | 4518422 |
| &nbsp;&nbsp;&nbsp;Total U.S. Treasury Obligations |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $819,992,567) |  | 810837090 |
| **CORPORATE OBLIGATIONS — 27.5%** | **CORPORATE OBLIGATIONS — 27.5%** | **CORPORATE OBLIGATIONS — 27.5%** |
| **COMMUNICATION SERVICES — 1.6%** | **COMMUNICATION SERVICES — 1.6%** | **COMMUNICATION SERVICES — 1.6%** |
| &nbsp;&nbsp;&nbsp;Alphabet | &nbsp;&nbsp;&nbsp;Alphabet | &nbsp;&nbsp;&nbsp;Alphabet |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.100%, 08/15/30 | $5000000 | $4382505 |
| &nbsp;&nbsp;&nbsp;AT&T | &nbsp;&nbsp;&nbsp;AT&T | &nbsp;&nbsp;&nbsp;AT&T |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.350%, 06/15/45 | 3065000 | 2579476 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.800%, 12/01/57 | 750000 | 529131 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.550%, 09/15/55 | 1238000 | 844440 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.550%, 12/01/33 | 150000 | 127238 |
| &nbsp;&nbsp;&nbsp;CCO Holdings | &nbsp;&nbsp;&nbsp;CCO Holdings | &nbsp;&nbsp;&nbsp;CCO Holdings |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 05/01/32 | 975000 | 867174 |
| &nbsp;&nbsp;&nbsp;Charter Communications Operating | &nbsp;&nbsp;&nbsp;Charter Communications Operating | &nbsp;&nbsp;&nbsp;Charter Communications Operating |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.100%, 06/01/29 | 1630000 | 1703951 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.125%, 07/01/49 | 1230000 | 991636 |

---

*The accompanying notes are an integral part of the financial statements.*

 *22*

**CATHOLIC RESPONSIBLE INVESTMENTS BOND FUND**

**OCTOBER 31, 2025**

**CORPORATE OBLIGATIONS — continued** 

---

| | | |
|:---|:---|:---|
|  | **Face <br> Amount** | **Value** |
| **COMMUNICATION SERVICES — continued** | **COMMUNICATION SERVICES — continued** | **COMMUNICATION SERVICES — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.200%, 03/15/28 | 630000 | 626459 |
| &nbsp;&nbsp;&nbsp;Comcast | &nbsp;&nbsp;&nbsp;Comcast | &nbsp;&nbsp;&nbsp;Comcast |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.650%, 02/15/33 | 2500000 | 2501306 |
| &nbsp;&nbsp;&nbsp;Cox Communications | &nbsp;&nbsp;&nbsp;Cox Communications | &nbsp;&nbsp;&nbsp;Cox Communications |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.950%, 09/01/54(B) | 1390000 | 1266168 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.350%, 09/15/26(B) | 575000 | 570637 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.800%, 10/01/30(B) | 650000 | 568227 |
| &nbsp;&nbsp;&nbsp;Meta Platforms | &nbsp;&nbsp;&nbsp;Meta Platforms | &nbsp;&nbsp;&nbsp;Meta Platforms |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.625%, 11/15/55 | 745000 | 738534 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.450%, 08/15/52 | 3050000 | 2552559 |
| &nbsp;&nbsp;&nbsp;Prosus MTN | &nbsp;&nbsp;&nbsp;Prosus MTN | &nbsp;&nbsp;&nbsp;Prosus MTN |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.850%, 07/06/27(B) | 500000 | 503750 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.680%, 01/21/30(B) | 200000 | 191913 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.061%, 07/13/31(B) | 1940000 | 1766242 |
| &nbsp;&nbsp;&nbsp;Rogers Communications | &nbsp;&nbsp;&nbsp;Rogers Communications | &nbsp;&nbsp;&nbsp;Rogers Communications |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.800%, 03/15/32 | 1705000 | 1606835 |
| &nbsp;&nbsp;&nbsp;Telecom Italia Capital | &nbsp;&nbsp;&nbsp;Telecom Italia Capital | &nbsp;&nbsp;&nbsp;Telecom Italia Capital |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.200%, 07/18/36 | 175000 | 190632 |
| &nbsp;&nbsp;&nbsp;Time Warner Cable | &nbsp;&nbsp;&nbsp;Time Warner Cable | &nbsp;&nbsp;&nbsp;Time Warner Cable |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.750%, 06/15/39 | 800000 | 821239 |
| &nbsp;&nbsp;&nbsp;Verizon Communications | &nbsp;&nbsp;&nbsp;Verizon Communications | &nbsp;&nbsp;&nbsp;Verizon Communications |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.400%, 11/01/34 | 3130000 | 3012322 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.875%, 03/01/52 | 3500000 | 2645016 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.550%, 03/22/51 | 895000 | 645025 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.850%, 09/03/41 | 2500000 | 1805692 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.650%, 11/20/40 | 2390000 | 1711096 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.500%, 09/18/30 | 2500000 | 2187239 |
|  |  | 37936442 |
| **CONSUMER DISCRETIONARY — 0.8%** | **CONSUMER DISCRETIONARY — 0.8%** | **CONSUMER DISCRETIONARY — 0.8%** |
| &nbsp;&nbsp;&nbsp;Alimentation Couche-Tard | &nbsp;&nbsp;&nbsp;Alimentation Couche-Tard | &nbsp;&nbsp;&nbsp;Alimentation Couche-Tard |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.625%, 05/13/51(B) | 5000000 | 3644722 |
| &nbsp;&nbsp;&nbsp;Block Financial | &nbsp;&nbsp;&nbsp;Block Financial | &nbsp;&nbsp;&nbsp;Block Financial |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.375%, 09/15/32 | 820000 | 830827 |
| &nbsp;&nbsp;&nbsp;Carnival | &nbsp;&nbsp;&nbsp;Carnival | &nbsp;&nbsp;&nbsp;Carnival |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.750%, 03/15/30(B) | 1955000 | 2013782 |
| &nbsp;&nbsp;&nbsp;Ford Motor Credit | &nbsp;&nbsp;&nbsp;Ford Motor Credit | &nbsp;&nbsp;&nbsp;Ford Motor Credit |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.350%, 11/04/27 | 525000 | 548149 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.303%, 09/06/29 | 1130000 | 1132633 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.375%, 11/13/25 | 450000 | 449819 |
| &nbsp;&nbsp;&nbsp;General Motors | &nbsp;&nbsp;&nbsp;General Motors | &nbsp;&nbsp;&nbsp;General Motors |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.250%, 04/15/35 | 1070000 | 1137610 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.625%, 04/15/30 | 740000 | 769943 |
| &nbsp;&nbsp;&nbsp;General Motors Financial | &nbsp;&nbsp;&nbsp;General Motors Financial | &nbsp;&nbsp;&nbsp;General Motors Financial |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.050%, 04/04/28 | 565000 | 574606 |
| &nbsp;&nbsp;&nbsp;Genuine Parts | &nbsp;&nbsp;&nbsp;Genuine Parts | &nbsp;&nbsp;&nbsp;Genuine Parts |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.950%, 08/15/29 | 830000 | 839234 |
| &nbsp;&nbsp;&nbsp;Lowe's | &nbsp;&nbsp;&nbsp;Lowe's | &nbsp;&nbsp;&nbsp;Lowe's |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.850%, 10/15/35 | 1400000 | 1383238 |
| &nbsp;&nbsp;&nbsp;Nissan Motor Acceptance | &nbsp;&nbsp;&nbsp;Nissan Motor Acceptance | &nbsp;&nbsp;&nbsp;Nissan Motor Acceptance |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.625%, 09/29/28(B) | 1453000 | 1452572 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.550%, 09/13/29(B) | 665000 | 661045 |

---

**CORPORATE OBLIGATIONS — continued** 

---

| | | |
|:---|:---|:---|
|  | **Face <br> Amount** | **Value** |
| **CONSUMER DISCRETIONARY — continued** | **CONSUMER DISCRETIONARY — continued** | **CONSUMER DISCRETIONARY — continued** |
| &nbsp;&nbsp;&nbsp;PVH | &nbsp;&nbsp;&nbsp;PVH | &nbsp;&nbsp;&nbsp;PVH |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 06/13/30 | 1280000 | 1302740 |
| &nbsp;&nbsp;&nbsp;Ralph Lauren | &nbsp;&nbsp;&nbsp;Ralph Lauren | &nbsp;&nbsp;&nbsp;Ralph Lauren |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/15/32 | 785000 | 806516 |
| &nbsp;&nbsp;&nbsp;Starbucks | &nbsp;&nbsp;&nbsp;Starbucks | &nbsp;&nbsp;&nbsp;Starbucks |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.450%, 08/15/49 | 2500000 | 2107292 |
| &nbsp;&nbsp;&nbsp;Stellantis Finance US | &nbsp;&nbsp;&nbsp;Stellantis Finance US | &nbsp;&nbsp;&nbsp;Stellantis Finance US |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.450%, 03/18/35(B) | 655000 | 680551 |
| &nbsp;&nbsp;&nbsp;Stellantis Financial Services US | &nbsp;&nbsp;&nbsp;Stellantis Financial Services US | &nbsp;&nbsp;&nbsp;Stellantis Financial Services US |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.950%, 09/15/28(B) | 1260000 | 1264990 |
| &nbsp;&nbsp;&nbsp;Whirlpool | &nbsp;&nbsp;&nbsp;Whirlpool | &nbsp;&nbsp;&nbsp;Whirlpool |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.125%, 06/15/30 | 205000 | 203519 |
| &nbsp;&nbsp;&nbsp;ZF North America Capital | &nbsp;&nbsp;&nbsp;ZF North America Capital | &nbsp;&nbsp;&nbsp;ZF North America Capital |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.125%, 04/14/30(B) | 320000 | 311551 |
|  |  | 22115339 |
| **CONSUMER STAPLES — 0.6%** | **CONSUMER STAPLES — 0.6%** | **CONSUMER STAPLES — 0.6%** |
| &nbsp;&nbsp;&nbsp;Albertsons | &nbsp;&nbsp;&nbsp;Albertsons | &nbsp;&nbsp;&nbsp;Albertsons |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 03/31/31(B) | 1510000 | 1521966 |
| &nbsp;&nbsp;&nbsp;Anheuser-Busch InBev Worldwide | &nbsp;&nbsp;&nbsp;Anheuser-Busch InBev Worldwide | &nbsp;&nbsp;&nbsp;Anheuser-Busch InBev Worldwide |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.450%, 01/23/39 | 2020000 | 2097683 |
| &nbsp;&nbsp;&nbsp;Coca-Cola | &nbsp;&nbsp;&nbsp;Coca-Cola | &nbsp;&nbsp;&nbsp;Coca-Cola |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.450%, 06/01/27 | 25000 | 24127 |
| &nbsp;&nbsp;&nbsp;Mather Foundation | &nbsp;&nbsp;&nbsp;Mather Foundation | &nbsp;&nbsp;&nbsp;Mather Foundation |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.675%, 10/01/31 | 2500000 | 2252090 |
| &nbsp;&nbsp;&nbsp;PepsiCo | &nbsp;&nbsp;&nbsp;PepsiCo | &nbsp;&nbsp;&nbsp;PepsiCo |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 07/23/35 | 690000 | 705980 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.900%, 07/18/32 | 3000000 | 2944462 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.875%, 10/15/49 | 4340000 | 2922348 |
| &nbsp;&nbsp;&nbsp;RELX Capital | &nbsp;&nbsp;&nbsp;RELX Capital | &nbsp;&nbsp;&nbsp;RELX Capital |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 05/22/30 | 50000 | 47375 |
| &nbsp;&nbsp;&nbsp;Skandinaviska Enskilda Banken | &nbsp;&nbsp;&nbsp;Skandinaviska Enskilda Banken | &nbsp;&nbsp;&nbsp;Skandinaviska Enskilda Banken |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 09/03/30(B) | 676000 | 676876 |
| &nbsp;&nbsp;&nbsp;Sysco | &nbsp;&nbsp;&nbsp;Sysco | &nbsp;&nbsp;&nbsp;Sysco |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.400%, 02/15/30 | 2500000 | 2316108 |
| &nbsp;&nbsp;&nbsp;Target | &nbsp;&nbsp;&nbsp;Target | &nbsp;&nbsp;&nbsp;Target |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 04/15/35 | 610000 | 617646 |
|  |  | 16126661 |
| **ENERGY — 1.8%** | **ENERGY — 1.8%** | **ENERGY — 1.8%** |
| &nbsp;&nbsp;&nbsp;APA | &nbsp;&nbsp;&nbsp;APA | &nbsp;&nbsp;&nbsp;APA |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.750%, 02/15/55 | 860000 | 856319 |
| &nbsp;&nbsp;&nbsp;BP Capital Markets America | &nbsp;&nbsp;&nbsp;BP Capital Markets America | &nbsp;&nbsp;&nbsp;BP Capital Markets America |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.060%, 06/17/41 | 2250000 | 1727483 |
| &nbsp;&nbsp;&nbsp;California Resources | &nbsp;&nbsp;&nbsp;California Resources | &nbsp;&nbsp;&nbsp;California Resources |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.250%, 06/15/29(B) | 845000 | 878791 |
| &nbsp;&nbsp;&nbsp;Cameron LNG | &nbsp;&nbsp;&nbsp;Cameron LNG | &nbsp;&nbsp;&nbsp;Cameron LNG |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.701%, 01/15/39(B) | 1995000 | 1712834 |
| &nbsp;&nbsp;&nbsp;Chevron USA | &nbsp;&nbsp;&nbsp;Chevron USA | &nbsp;&nbsp;&nbsp;Chevron USA |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.687%, 04/15/30 | 870000 | 890475 |

---

*The accompanying notes are an integral part of the financial statements.*

 *23*

**CATHOLIC RESPONSIBLE INVESTMENTS BOND FUND**

**OCTOBER 31, 2025**

**CORPORATE OBLIGATIONS — continued**

---

| | | |
|:---|:---|:---|
|  | **Face <br> Amount** | **Value** |
| **ENERGY — continued** | **ENERGY — continued** | **ENERGY — continued** |
| &nbsp;&nbsp;&nbsp;Chord Energy | &nbsp;&nbsp;&nbsp;Chord Energy | &nbsp;&nbsp;&nbsp;Chord Energy |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 10/01/30(B) | $660000 | $660692 |
| &nbsp;&nbsp;&nbsp;Civitas Resources | &nbsp;&nbsp;&nbsp;Civitas Resources | &nbsp;&nbsp;&nbsp;Civitas Resources |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.625%, 06/15/33(B) | 765000 | 820711 |
| &nbsp;&nbsp;&nbsp;Energy Transfer | &nbsp;&nbsp;&nbsp;Energy Transfer | &nbsp;&nbsp;&nbsp;Energy Transfer |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.500%, 02/01/42 | 835000 | 879597 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.100%, 12/01/28 | 1855000 | 1948392 |
| &nbsp;&nbsp;&nbsp;Helmerich & Payne | &nbsp;&nbsp;&nbsp;Helmerich & Payne | &nbsp;&nbsp;&nbsp;Helmerich & Payne |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 12/01/34(C) | 620000 | 610553 |
| &nbsp;&nbsp;&nbsp;Hess Midstream Operations | &nbsp;&nbsp;&nbsp;Hess Midstream Operations | &nbsp;&nbsp;&nbsp;Hess Midstream Operations |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.875%, 03/01/28(B) | 1690000 | 1723048 |
| &nbsp;&nbsp;&nbsp;Kinder Morgan Energy Partners | &nbsp;&nbsp;&nbsp;Kinder Morgan Energy Partners | &nbsp;&nbsp;&nbsp;Kinder Morgan Energy Partners |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.500%, 09/01/39 | 50000 | 54487 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 03/01/44 | 370000 | 359197 |
| &nbsp;&nbsp;&nbsp;Kinetik Holdings | &nbsp;&nbsp;&nbsp;Kinetik Holdings | &nbsp;&nbsp;&nbsp;Kinetik Holdings |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.625%, 12/15/28(B) | 610000 | 626397 |
| &nbsp;&nbsp;&nbsp;MidAmerican Energy | &nbsp;&nbsp;&nbsp;MidAmerican Energy | &nbsp;&nbsp;&nbsp;MidAmerican Energy |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.850%, 09/15/54 | 975000 | 1026902 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.300%, 02/01/55 | 1050000 | 1019878 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.250%, 07/15/49 | 2055000 | 1716113 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.950%, 08/01/47 | 2500000 | 2016957 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.700%, 08/01/52 | 2588000 | 1629821 |
| &nbsp;&nbsp;&nbsp;MPLX | &nbsp;&nbsp;&nbsp;MPLX | &nbsp;&nbsp;&nbsp;MPLX |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 02/15/49 | 2350000 | 2183794 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.400%, 09/15/35 | 610000 | 612204 |
| &nbsp;&nbsp;&nbsp;NFE Financing | &nbsp;&nbsp;&nbsp;NFE Financing | &nbsp;&nbsp;&nbsp;NFE Financing |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.000%, 11/15/29(B)(C) | 3549600 | 865051 |
| &nbsp;&nbsp;&nbsp;Northern Oil & Gas | &nbsp;&nbsp;&nbsp;Northern Oil & Gas | &nbsp;&nbsp;&nbsp;Northern Oil & Gas |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.875%, 10/15/33(B) | 695000 | 676901 |
| &nbsp;&nbsp;&nbsp;Occidental Petroleum | &nbsp;&nbsp;&nbsp;Occidental Petroleum | &nbsp;&nbsp;&nbsp;Occidental Petroleum |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.200%, 08/01/29 | 910000 | 929036 |
| &nbsp;&nbsp;&nbsp;ONEOK | &nbsp;&nbsp;&nbsp;ONEOK | &nbsp;&nbsp;&nbsp;ONEOK |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.250%, 10/15/55 | 1500000 | 1501432 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.400%, 10/15/35 | 2630000 | 2639691 |
| &nbsp;&nbsp;&nbsp;Patterson-UTI Energy | &nbsp;&nbsp;&nbsp;Patterson-UTI Energy | &nbsp;&nbsp;&nbsp;Patterson-UTI Energy |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.150%, 10/01/33 | 1525000 | 1625296 |
| &nbsp;&nbsp;&nbsp;Plains All American Pipeline | &nbsp;&nbsp;&nbsp;Plains All American Pipeline | &nbsp;&nbsp;&nbsp;Plains All American Pipeline |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.600%, 01/15/36 | 520000 | 525016 |
| &nbsp;&nbsp;&nbsp;Sunoco | &nbsp;&nbsp;&nbsp;Sunoco | &nbsp;&nbsp;&nbsp;Sunoco |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.625%, 03/15/31(B) | 1465000 | 1465842 |
| &nbsp;&nbsp;&nbsp;Sweihan PV Power PJSC | &nbsp;&nbsp;&nbsp;Sweihan PV Power PJSC | &nbsp;&nbsp;&nbsp;Sweihan PV Power PJSC |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.625%, 01/31/49(B) | 2290250 | 1961805 |
| &nbsp;&nbsp;&nbsp;Targa Resources | &nbsp;&nbsp;&nbsp;Targa Resources | &nbsp;&nbsp;&nbsp;Targa Resources |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.125%, 05/15/55 | 1165000 | 1170131 |
| &nbsp;&nbsp;&nbsp;Topaz Solar Farms | &nbsp;&nbsp;&nbsp;Topaz Solar Farms | &nbsp;&nbsp;&nbsp;Topaz Solar Farms |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.750%, 09/30/39(B) | 5023974 | 5023974 |
| &nbsp;&nbsp;&nbsp;TransCanada PipeLines | &nbsp;&nbsp;&nbsp;TransCanada PipeLines | &nbsp;&nbsp;&nbsp;TransCanada PipeLines |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.625%, 03/01/34 | 1345000 | 1313557 |
|  |  | 43652377 |

---

**CORPORATE OBLIGATIONS — continued** 

---

| | | |
|:---|:---|:---|
|  | **Face <br> Amount** | **Value** |
| **FINANCIALS — 16.2%** | **FINANCIALS — 16.2%** | **FINANCIALS — 16.2%** |
| &nbsp;&nbsp;&nbsp;African Development Bank | &nbsp;&nbsp;&nbsp;African Development Bank | &nbsp;&nbsp;&nbsp;African Development Bank |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.750%, H15T5Y + 1.575%(A)(D) | $3750000 | $3780712 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.125%, 02/25/27 | 2500000 | 2511161 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.500%, 09/18/29 | 1000000 | 991451 |
| &nbsp;&nbsp;&nbsp;Ally Financial | &nbsp;&nbsp;&nbsp;Ally Financial | &nbsp;&nbsp;&nbsp;Ally Financial |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.548%, SOFRRATE + 1.780%, 07/31/33(A) | 1870000 | 1876953 |
| &nbsp;&nbsp;&nbsp;American Express | &nbsp;&nbsp;&nbsp;American Express | &nbsp;&nbsp;&nbsp;American Express |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.804%, SOFRRATE + 1.237%, 10/24/36(A) | 2055000 | 2031102 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.550%, H15T5Y + 2.854%(A)(D) | 675000 | 662403 |
| &nbsp;&nbsp;&nbsp;American Financial Group | &nbsp;&nbsp;&nbsp;American Financial Group | &nbsp;&nbsp;&nbsp;American Financial Group |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/23/35 | 330000 | 323227 |
| &nbsp;&nbsp;&nbsp;American National Global Funding | &nbsp;&nbsp;&nbsp;American National Global Funding | &nbsp;&nbsp;&nbsp;American National Global Funding |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.550%, 01/28/30(B) | 570000 | 587349 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 06/03/30(B) | 575000 | 585629 |
| &nbsp;&nbsp;&nbsp;American National Group | &nbsp;&nbsp;&nbsp;American National Group | &nbsp;&nbsp;&nbsp;American National Group |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 07/15/35 | 615000 | 624363 |
| &nbsp;&nbsp;&nbsp;Anglo American Capital | &nbsp;&nbsp;&nbsp;Anglo American Capital | &nbsp;&nbsp;&nbsp;Anglo American Capital |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.750%, 04/05/34(B) | 1765000 | 1853794 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.875%, 03/16/29(B) | 420000 | 413467 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.625%, 09/10/30(B) | 500000 | 459488 |
| &nbsp;&nbsp;&nbsp;Antares Holdings | &nbsp;&nbsp;&nbsp;Antares Holdings | &nbsp;&nbsp;&nbsp;Antares Holdings |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.350%, 10/23/29(B) | 720000 | 734370 |
| &nbsp;&nbsp;&nbsp;Apollo Debt Solutions BDC | &nbsp;&nbsp;&nbsp;Apollo Debt Solutions BDC | &nbsp;&nbsp;&nbsp;Apollo Debt Solutions BDC |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.875%, 08/30/30(B) | 470000 | 475182 |
| &nbsp;&nbsp;&nbsp;Arab Energy Fund | &nbsp;&nbsp;&nbsp;Arab Energy Fund | &nbsp;&nbsp;&nbsp;Arab Energy Fund |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.428%, 05/02/29 | 2750000 | 2856085 |
| &nbsp;&nbsp;&nbsp;Arab Petroleum Investments | &nbsp;&nbsp;&nbsp;Arab Petroleum Investments | &nbsp;&nbsp;&nbsp;Arab Petroleum Investments |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.428%, 05/02/29(B) | 1500000 | 1557864 |
| &nbsp;&nbsp;&nbsp;Ares Capital | &nbsp;&nbsp;&nbsp;Ares Capital | &nbsp;&nbsp;&nbsp;Ares Capital |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.000%, 01/15/27 | 487000 | 500171 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.800%, 03/08/32 | 580000 | 584875 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.875%, 06/15/28 | 1320000 | 1256852 |
| &nbsp;&nbsp;&nbsp;Ares Strategic Income Fund | &nbsp;&nbsp;&nbsp;Ares Strategic Income Fund | &nbsp;&nbsp;&nbsp;Ares Strategic Income Fund |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.700%, 03/15/28 | 570000 | 576641 |
| &nbsp;&nbsp;&nbsp;Arthur J Gallagher | &nbsp;&nbsp;&nbsp;Arthur J Gallagher | &nbsp;&nbsp;&nbsp;Arthur J Gallagher |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.500%, 02/15/34 | 1510000 | 1671840 |
| &nbsp;&nbsp;&nbsp;Asian Infrastructure Investment Bank | &nbsp;&nbsp;&nbsp;Asian Infrastructure Investment Bank | &nbsp;&nbsp;&nbsp;Asian Infrastructure Investment Bank |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.901%, SOFRINDX + 0.620%, 08/16/27(A) | 1000000 | 1006141 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.875%, 09/14/26(C) | 1000000 | 1008653 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 01/16/30 | 1200000 | 1234526 |
| &nbsp;&nbsp;&nbsp;Athene Global Funding | &nbsp;&nbsp;&nbsp;Athene Global Funding | &nbsp;&nbsp;&nbsp;Athene Global Funding |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.543%, 08/22/35(B) | 720000 | 728049 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.380%, 01/07/30(B) | 810000 | 830872 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.830%, 05/09/28(B) | 565000 | 569879 |

---

*The accompanying notes are an integral part of the financial statements.*

 *24*

**CATHOLIC RESPONSIBLE INVESTMENTS BOND FUND**

**OCTOBER 31, 2025**

**CORPORATE OBLIGATIONS — continued**

---

| | | |
|:---|:---|:---|
|  | **Face <br> Amount** | **Value** |
| **FINANCIALS — continued** | **FINANCIALS — continued** | **FINANCIALS — continued** |
| &nbsp;&nbsp;&nbsp;Atlas Warehouse Lending | &nbsp;&nbsp;&nbsp;Atlas Warehouse Lending | &nbsp;&nbsp;&nbsp;Atlas Warehouse Lending |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.250%, 01/15/30(B) | $445000 | $465925 |
| &nbsp;&nbsp;&nbsp;Aviation Capital Group | &nbsp;&nbsp;&nbsp;Aviation Capital Group | &nbsp;&nbsp;&nbsp;Aviation Capital Group |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.125%, 04/10/30(B) | 620000 | 629136 |
| &nbsp;&nbsp;&nbsp;Avolon Holdings Funding | &nbsp;&nbsp;&nbsp;Avolon Holdings Funding | &nbsp;&nbsp;&nbsp;Avolon Holdings Funding |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.950%, 10/15/32(B) | 1470000 | 1450506 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.950%, 01/15/28(B) | 990000 | 999540 |
| &nbsp;&nbsp;&nbsp;Bacardi-Martini BV | &nbsp;&nbsp;&nbsp;Bacardi-Martini BV | &nbsp;&nbsp;&nbsp;Bacardi-Martini BV |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.550%, 02/01/30(B) | 1080000 | 1115640 |
| &nbsp;&nbsp;&nbsp;Bain Capital Specialty Finance | &nbsp;&nbsp;&nbsp;Bain Capital Specialty Finance | &nbsp;&nbsp;&nbsp;Bain Capital Specialty Finance |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.950%, 03/15/30 | 350000 | 348705 |
| &nbsp;&nbsp;&nbsp;Bank of America | &nbsp;&nbsp;&nbsp;Bank of America | &nbsp;&nbsp;&nbsp;Bank of America |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.518%, SOFRRATE + 1.738%, 10/25/35(A) | 2055000 | 2106826 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.450%, 03/03/26 | 1275000 | 1276061 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.676%, U.S. SOFR + 1.930%, 06/19/41(A) | 2700000 | 2003840 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.572%, SOFRRATE + 1.210%, 10/20/32(A) | 650000 | 584300 |
| &nbsp;&nbsp;&nbsp;Bank of Montreal | &nbsp;&nbsp;&nbsp;Bank of Montreal | &nbsp;&nbsp;&nbsp;Bank of Montreal |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.004%, SOFRINDX + 0.670%, 01/27/29(A) | 575000 | 585971 |
| &nbsp;&nbsp;&nbsp;Bank of New York Mellon | &nbsp;&nbsp;&nbsp;Bank of New York Mellon | &nbsp;&nbsp;&nbsp;Bank of New York Mellon |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.942%, SOFRRATE + 0.887%, 02/11/31(A) | 960000 | 985528 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.729%, SOFRRATE + 1.135%, 04/20/29(A) | 585000 | 594312 |
| &nbsp;&nbsp;&nbsp;Bank of Nova Scotia | &nbsp;&nbsp;&nbsp;Bank of Nova Scotia | &nbsp;&nbsp;&nbsp;Bank of Nova Scotia |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.338%, SOFRRATE + 1.090%, 09/15/31(A) | 1873000 | 1861486 |
| &nbsp;&nbsp;&nbsp;Barclays | &nbsp;&nbsp;&nbsp;Barclays | &nbsp;&nbsp;&nbsp;Barclays |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.690%, SOFRRATE + 1.740%, 03/12/30(A) | 1240000 | 1287328 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.674%, SOFRRATE + 1.490%, 03/12/28(A) | 3130000 | 3187530 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.894%, H15T1Y + 1.300%, 11/24/32(A) | 1000000 | 903476 |
| &nbsp;&nbsp;&nbsp;Barings BDC | &nbsp;&nbsp;&nbsp;Barings BDC | &nbsp;&nbsp;&nbsp;Barings BDC |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.200%, 09/15/28 | 820000 | 815530 |
| &nbsp;&nbsp;&nbsp;Belrose Funding Trust II | &nbsp;&nbsp;&nbsp;Belrose Funding Trust II | &nbsp;&nbsp;&nbsp;Belrose Funding Trust II |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.792%, 05/15/55(B) | 555000 | 590923 |
| &nbsp;&nbsp;&nbsp;BGC Group | &nbsp;&nbsp;&nbsp;BGC Group | &nbsp;&nbsp;&nbsp;BGC Group |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.150%, 04/02/30 | 305000 | 314748 |
| &nbsp;&nbsp;&nbsp;Blackstone Private Credit Fund | &nbsp;&nbsp;&nbsp;Blackstone Private Credit Fund | &nbsp;&nbsp;&nbsp;Blackstone Private Credit Fund |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.625%, 12/15/26 | 2845000 | 2782837 |
| &nbsp;&nbsp;&nbsp;Blackstone Reg Finance | &nbsp;&nbsp;&nbsp;Blackstone Reg Finance | &nbsp;&nbsp;&nbsp;Blackstone Reg Finance |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.950%, 02/15/36 | 750000 | 744476 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.300%, 11/03/30 | 595000 | 592766 |
| &nbsp;&nbsp;&nbsp;Block | &nbsp;&nbsp;&nbsp;Block | &nbsp;&nbsp;&nbsp;Block |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.625%, 08/15/30(B) | 915000 | 928806 |

---

**CORPORATE OBLIGATIONS — continued** 

---

| | | |
|:---|:---|:---|
|  | **Face <br> Amount** | **Value** |
| **FINANCIALS — continued** | **FINANCIALS — continued** | **FINANCIALS — continued** |
| &nbsp;&nbsp;&nbsp;Blue Owl Capital | &nbsp;&nbsp;&nbsp;Blue Owl Capital | &nbsp;&nbsp;&nbsp;Blue Owl Capital |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.875%, 06/11/28 | $2700000 | $2549611 |
| &nbsp;&nbsp;&nbsp;Blue Owl Credit Income | &nbsp;&nbsp;&nbsp;Blue Owl Credit Income | &nbsp;&nbsp;&nbsp;Blue Owl Credit Income |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.750%, 01/15/29 | 2670000 | 2844986 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.600%, 09/15/29 | 555000 | 573530 |
| &nbsp;&nbsp;&nbsp;Blue Owl Technology Finance II | &nbsp;&nbsp;&nbsp;Blue Owl Technology Finance II | &nbsp;&nbsp;&nbsp;Blue Owl Technology Finance II |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.750%, 04/04/29 | 585000 | 597816 |
| &nbsp;&nbsp;&nbsp;BNP Paribas | &nbsp;&nbsp;&nbsp;BNP Paribas | &nbsp;&nbsp;&nbsp;BNP Paribas |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.283%, SOFRRATE + 1.280%, 11/19/30(A)(B) | 675000 | 692248 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.176%, SOFRRATE + 1.520%, 01/09/30(A)(B) | 1465000 | 1500646 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.375%, 05/12/26(B) | 250000 | 249663 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.675%, SOFRRATE + 0.912%, 06/30/27(A)(B) | 2450000 | 2406755 |
| &nbsp;&nbsp;&nbsp;Bush Foundation | &nbsp;&nbsp;&nbsp;Bush Foundation | &nbsp;&nbsp;&nbsp;Bush Foundation |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.754%, 10/01/50 | 1000000 | 636283 |
| &nbsp;&nbsp;&nbsp;CaixaBank | &nbsp;&nbsp;&nbsp;CaixaBank | &nbsp;&nbsp;&nbsp;CaixaBank |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.885%, SOFRRATE + 1.360%, 07/03/31(A)(B) | 845000 | 855067 |
| &nbsp;&nbsp;&nbsp;Canadian Imperial Bank of Commerce | &nbsp;&nbsp;&nbsp;Canadian Imperial Bank of Commerce | &nbsp;&nbsp;&nbsp;Canadian Imperial Bank of Commerce |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.857%, SOFRRATE + 1.030%, 03/30/29(A) | 1475000 | 1497158 |
| &nbsp;&nbsp;&nbsp;Cantor Fitzgerald | &nbsp;&nbsp;&nbsp;Cantor Fitzgerald | &nbsp;&nbsp;&nbsp;Cantor Fitzgerald |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.200%, 12/12/28(B) | 750000 | 796296 |
| &nbsp;&nbsp;&nbsp;Capital Impact Partners | &nbsp;&nbsp;&nbsp;Capital Impact Partners | &nbsp;&nbsp;&nbsp;Capital Impact Partners |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.999%, 08/01/35 | 2500000 | 2578864 |
| &nbsp;&nbsp;&nbsp;Capital One Financial | &nbsp;&nbsp;&nbsp;Capital One Financial | &nbsp;&nbsp;&nbsp;Capital One Financial |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.624%, SOFRRATE + 3.070%, 10/30/31(A) | 775000 | 873544 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.377%, SOFRRATE + 2.860%, 06/08/34(A) | 1490000 | 1612639 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.312%, SOFRRATE + 2.640%, 06/08/29(A) | 350000 | 366784 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.268%, SOFRRATE + 2.370%, 05/10/33(A) | 1320000 | 1347747 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.927%, SOFRRATE + 2.057%, 05/10/28(A) | 675000 | 681396 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.493%, SOFRRATE + 1.250%, 09/11/31(A) | 600000 | 595351 |
| &nbsp;&nbsp;&nbsp;Cargill | &nbsp;&nbsp;&nbsp;Cargill | &nbsp;&nbsp;&nbsp;Cargill |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.375%, 10/23/55(B) | 735000 | 716685 |
| &nbsp;&nbsp;&nbsp;Carlyle Secured Lending | &nbsp;&nbsp;&nbsp;Carlyle Secured Lending | &nbsp;&nbsp;&nbsp;Carlyle Secured Lending |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.750%, 02/15/31 | 510000 | 498582 |
| &nbsp;&nbsp;&nbsp;Central American Bank for Economic Integration |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 02/09/26(B) | 500000 | 500680 |
| &nbsp;&nbsp;&nbsp;CGI | &nbsp;&nbsp;&nbsp;CGI | &nbsp;&nbsp;&nbsp;CGI |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.950%, 03/14/30(B) | 1275000 | 1292579 |

---

*The accompanying notes are an integral part of the financial statements.*

 *25*

**CATHOLIC RESPONSIBLE INVESTMENTS BOND FUND**

**OCTOBER 31, 2025**

**CORPORATE OBLIGATIONS — continued** 

---

| | | |
|:---|:---|:---|
|  | **Face <br> Amount** | **Value** |
| **FINANCIALS — continued** | **FINANCIALS — continued** | **FINANCIALS — continued** |
| &nbsp;&nbsp;&nbsp;Charles Schwab | &nbsp;&nbsp;&nbsp;Charles Schwab | &nbsp;&nbsp;&nbsp;Charles Schwab |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, H15T5Y + 3.168%(A)(D) | $4910000 | $4865275 |
| &nbsp;&nbsp;&nbsp;Chubb INA Holdings | &nbsp;&nbsp;&nbsp;Chubb INA Holdings | &nbsp;&nbsp;&nbsp;Chubb INA Holdings |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.900%, 08/15/35 | 535000 | 538434 |
| &nbsp;&nbsp;&nbsp;Citadel Securities Global Holdings | &nbsp;&nbsp;&nbsp;Citadel Securities Global Holdings | &nbsp;&nbsp;&nbsp;Citadel Securities Global Holdings |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 06/18/30(B) | 270000 | 276008 |
| &nbsp;&nbsp;&nbsp;Citibank | &nbsp;&nbsp;&nbsp;Citibank | &nbsp;&nbsp;&nbsp;Citibank |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.876%, SOFRRATE + 0.712%, 11/19/27(A) | 4620000 | 4652166 |
| &nbsp;&nbsp;&nbsp;Citigroup | &nbsp;&nbsp;&nbsp;Citigroup | &nbsp;&nbsp;&nbsp;Citigroup |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.125%, 07/15/39 | 785000 | 1006586 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.643%, SOFRRATE + 1.143%, 05/07/28(A) | 2085000 | 2098429 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.600%, 03/09/26 | 40000 | 40052 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.450%, 09/29/27 | 1920000 | 1926094 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, H15T5Y + 3.597%(A)(D) | 5725000 | 5713669 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.666%, U.S. SOFR + 1.146%, 01/29/31(A) | 2205000 | 2055011 |
| &nbsp;&nbsp;&nbsp;Citizens Bank | &nbsp;&nbsp;&nbsp;Citizens Bank | &nbsp;&nbsp;&nbsp;Citizens Bank |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.575%, SOFRRATE + 2.000%, 08/09/28(A) | 940000 | 945897 |
| &nbsp;&nbsp;&nbsp;Citizens Financial Group | &nbsp;&nbsp;&nbsp;Citizens Financial Group | &nbsp;&nbsp;&nbsp;Citizens Financial Group |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.253%, SOFRRATE + 1.259%, 03/05/31(A) | 600000 | 613485 |
| &nbsp;&nbsp;&nbsp;Clearinghouse Community Development Financial Institution |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.000%, 10/15/30(B) | 1000000 | 988428 |
| &nbsp;&nbsp;&nbsp;CNH Industrial Capital | &nbsp;&nbsp;&nbsp;CNH Industrial Capital | &nbsp;&nbsp;&nbsp;CNH Industrial Capital |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.750%, 03/21/28 | 505000 | 511020 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 10/16/30 | 1420000 | 1417187 |
| &nbsp;&nbsp;&nbsp;CNO Global Funding | &nbsp;&nbsp;&nbsp;CNO Global Funding | &nbsp;&nbsp;&nbsp;CNO Global Funding |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.875%, 12/10/27(B) | 860000 | 870387 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.375%, 09/08/28(B) | 658000 | 657507 |
| &nbsp;&nbsp;&nbsp;Commonwealth Bank of Australia NY | &nbsp;&nbsp;&nbsp;Commonwealth Bank of Australia NY | &nbsp;&nbsp;&nbsp;Commonwealth Bank of Australia NY |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.423%, 03/14/28 | 585000 | 591971 |
| &nbsp;&nbsp;&nbsp;Community Preservation | &nbsp;&nbsp;&nbsp;Community Preservation | &nbsp;&nbsp;&nbsp;Community Preservation |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.867%, 02/01/30 | 2400000 | 2233942 |
| &nbsp;&nbsp;&nbsp;Conservation Fund A Nonprofit | &nbsp;&nbsp;&nbsp;Conservation Fund A Nonprofit | &nbsp;&nbsp;&nbsp;Conservation Fund A Nonprofit |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.474%, 12/15/29 | 2116000 | 2026173 |
| &nbsp;&nbsp;&nbsp;ContourGlobal Power Holdings | &nbsp;&nbsp;&nbsp;ContourGlobal Power Holdings | &nbsp;&nbsp;&nbsp;ContourGlobal Power Holdings |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.750%, 02/28/30(B) | 500000 | 513988 |
| &nbsp;&nbsp;&nbsp;Cooperatieve Rabobank UA | &nbsp;&nbsp;&nbsp;Cooperatieve Rabobank UA | &nbsp;&nbsp;&nbsp;Cooperatieve Rabobank UA |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.990%, H15T1Y + 0.920%, 05/27/31(A)(B) | 730000 | 745393 |
| &nbsp;&nbsp;&nbsp;Corebridge Financial | &nbsp;&nbsp;&nbsp;Corebridge Financial | &nbsp;&nbsp;&nbsp;Corebridge Financial |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.875%, H15T5Y + 3.846%, 12/15/52(A) | 765000 | 783457 |

---

**CORPORATE OBLIGATIONS — continued** 

---

| | | |
|:---|:---|:---|
|  | **Face <br> Amount** | **Value** |
| **FINANCIALS — continued** | **FINANCIALS — continued** | **FINANCIALS — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.375%, H15T5Y + 2.646%, 09/15/54(A) | $2045000 | $2105516 |
| &nbsp;&nbsp;&nbsp;Credit Agricole | &nbsp;&nbsp;&nbsp;Credit Agricole | &nbsp;&nbsp;&nbsp;Credit Agricole |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.230%, SOFRRATE + 1.130%, 01/09/29(A)(B) | 653000 | 664396 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.818%, SOFRRATE + 1.360%, 09/25/33(A)(B) | 883000 | 877789 |
| &nbsp;&nbsp;&nbsp;Credit Agricole Corporate & Investment Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.570%, 08/25/30 | 1500000 | 1496437 |
| &nbsp;&nbsp;&nbsp;Crescent Energy Finance | &nbsp;&nbsp;&nbsp;Crescent Energy Finance | &nbsp;&nbsp;&nbsp;Crescent Energy Finance |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.375%, 01/15/34(B) | 760000 | 743333 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.625%, 04/01/32(B) | 400000 | 387786 |
| &nbsp;&nbsp;&nbsp;Daimler Truck Finance North America | &nbsp;&nbsp;&nbsp;Daimler Truck Finance North America | &nbsp;&nbsp;&nbsp;Daimler Truck Finance North America |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.625%, 01/13/35(B) | 770000 | 796074 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.650%, 10/12/30(B) | 905000 | 907587 |
| &nbsp;&nbsp;&nbsp;Danske Bank | &nbsp;&nbsp;&nbsp;Danske Bank | &nbsp;&nbsp;&nbsp;Danske Bank |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.019%, H15T1Y + 0.930%, 03/04/31(A)(B) | 995000 | 1014363 |
| &nbsp;&nbsp;&nbsp;Deutsche Bank NY | &nbsp;&nbsp;&nbsp;Deutsche Bank NY | &nbsp;&nbsp;&nbsp;Deutsche Bank NY |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.297%, SOFRRATE + 1.720%, 05/09/31(A) | 1270000 | 1298249 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.950%, SOFRRATE + 1.300%, 08/04/31(A) | 665000 | 670778 |
| &nbsp;&nbsp;&nbsp;DNB Bank | &nbsp;&nbsp;&nbsp;DNB Bank | &nbsp;&nbsp;&nbsp;DNB Bank |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.853%, SOFRRATE + 1.050%, 11/05/30(A)(B) | 430000 | 438190 |
| &nbsp;&nbsp;&nbsp;Element Fleet Management | &nbsp;&nbsp;&nbsp;Element Fleet Management | &nbsp;&nbsp;&nbsp;Element Fleet Management |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.037%, 03/25/30(B) | 355000 | 362330 |
| &nbsp;&nbsp;&nbsp;Enel Finance International | &nbsp;&nbsp;&nbsp;Enel Finance International | &nbsp;&nbsp;&nbsp;Enel Finance International |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/15/32(B) | 1100000 | 1119534 |
| &nbsp;&nbsp;&nbsp;Equitable America Global Funding | &nbsp;&nbsp;&nbsp;Equitable America Global Funding | &nbsp;&nbsp;&nbsp;Equitable America Global Funding |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.700%, 09/15/32(B) | 340000 | 339149 |
| &nbsp;&nbsp;&nbsp;European Investment Bank | &nbsp;&nbsp;&nbsp;European Investment Bank | &nbsp;&nbsp;&nbsp;European Investment Bank |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.750%, 02/14/33 | 2500000 | 2465353 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.125%, 04/13/26 | 1000000 | 991985 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.875%, 05/17/30 | 3500000 | 3084264 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.625%, 10/21/27 | 5000000 | 4714302 |
| &nbsp;&nbsp;&nbsp;F&G Global Funding | &nbsp;&nbsp;&nbsp;F&G Global Funding | &nbsp;&nbsp;&nbsp;F&G Global Funding |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.650%, 09/08/28(B) | 420000 | 421223 |
| &nbsp;&nbsp;&nbsp;Federation des Caisses Desjardins du Quebec | &nbsp;&nbsp;&nbsp;Federation des Caisses Desjardins du Quebec | &nbsp;&nbsp;&nbsp;Federation des Caisses Desjardins du Quebec |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.565%, 08/26/30(B) | 760000 | 763864 |
| &nbsp;&nbsp;&nbsp;Fifth Third Bank | &nbsp;&nbsp;&nbsp;Fifth Third Bank | &nbsp;&nbsp;&nbsp;Fifth Third Bank |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.967%, SOFRRATE + 0.810%, 01/28/28(A) | 430000 | 433915 |
| &nbsp;&nbsp;&nbsp;Ford Foundation | &nbsp;&nbsp;&nbsp;Ford Foundation | &nbsp;&nbsp;&nbsp;Ford Foundation |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.815%, 06/01/70 | 5065000 | 2964703 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.415%, 06/01/50 | 2500000 | 1542303 |

---

*The accompanying notes are an integral part of the financial statements.*

 *26*

**CATHOLIC RESPONSIBLE INVESTMENTS BOND FUND**

**OCTOBER 31, 2025**

---

| | | |
|:---|:---|:---|
| **CORPORATE OBLIGATIONS — continued** | **CORPORATE OBLIGATIONS — continued** | **CORPORATE OBLIGATIONS — continued** |
|  | **Face <br> Amount** | **Value** |
| **FINANCIALS — continued** | **FINANCIALS — continued** | **FINANCIALS — continued** |
| &nbsp;&nbsp;&nbsp;Fortitude Global Funding | &nbsp;&nbsp;&nbsp;Fortitude Global Funding | &nbsp;&nbsp;&nbsp;Fortitude Global Funding |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.625%, 10/06/28(B) | $640000 | $640425 |
| &nbsp;&nbsp;&nbsp;Foundry JV Holdco | &nbsp;&nbsp;&nbsp;Foundry JV Holdco | &nbsp;&nbsp;&nbsp;Foundry JV Holdco |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.200%, 01/25/37(B) | 2375000 | 2525669 |
| &nbsp;&nbsp;&nbsp;FS KKR Capital | &nbsp;&nbsp;&nbsp;FS KKR Capital | &nbsp;&nbsp;&nbsp;FS KKR Capital |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.125%, 01/15/30(C) | 565000 | 558377 |
| &nbsp;&nbsp;&nbsp;GA Global Funding Trust | &nbsp;&nbsp;&nbsp;GA Global Funding Trust | &nbsp;&nbsp;&nbsp;GA Global Funding Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 04/01/32(B) | 915000 | 933964 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.400%, 09/23/27(B) | 560000 | 560454 |
| &nbsp;&nbsp;&nbsp;Glencore Funding | &nbsp;&nbsp;&nbsp;Glencore Funding | &nbsp;&nbsp;&nbsp;Glencore Funding |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.375%, 10/06/30(B) | 390000 | 420630 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.893%, 04/04/54(B) | 1930000 | 1967560 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.186%, 04/01/30(B) | 505000 | 519635 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group | &nbsp;&nbsp;&nbsp;Goldman Sachs Group | &nbsp;&nbsp;&nbsp;Goldman Sachs Group |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.049%, SOFRRATE + 1.210%, 07/23/30(A) | 1610000 | 1646851 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.939%, SOFRRATE + 1.330%, 10/21/36(A) | 2170000 | 2156522 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.387%, SOFRRATE + 1.510%, 06/15/27(A) | 2500000 | 2500579 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.017%, TSFR3M + 1.635%, 10/31/38(A) | 2310000 | 2076606 |
| &nbsp;&nbsp;&nbsp;Golub Capital BDC | &nbsp;&nbsp;&nbsp;Golub Capital BDC | &nbsp;&nbsp;&nbsp;Golub Capital BDC |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.050%, 12/05/28 | 82000 | 85918 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 07/15/29 | 810000 | 822012 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.500%, 08/24/26 | 3530000 | 3467681 |
| &nbsp;&nbsp;&nbsp;Golub Capital Private Credit Fund | &nbsp;&nbsp;&nbsp;Golub Capital Private Credit Fund | &nbsp;&nbsp;&nbsp;Golub Capital Private Credit Fund |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.450%, 08/15/28(B) | 195000 | 195960 |
| &nbsp;&nbsp;&nbsp;HA Sustainable Infrastructure Capital | &nbsp;&nbsp;&nbsp;HA Sustainable Infrastructure Capital | &nbsp;&nbsp;&nbsp;HA Sustainable Infrastructure Capital |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.750%, 07/15/35 | 2400000 | 2459237 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.375%, 07/01/34 | 2500000 | 2524289 |
| &nbsp;&nbsp;&nbsp;Hanwha Futureproof | &nbsp;&nbsp;&nbsp;Hanwha Futureproof | &nbsp;&nbsp;&nbsp;Hanwha Futureproof |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.750%, 04/30/28(B)(C) | 1000000 | 1017404 |
| &nbsp;&nbsp;&nbsp;HAT Holdings I | &nbsp;&nbsp;&nbsp;HAT Holdings I | &nbsp;&nbsp;&nbsp;HAT Holdings I |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.750%, 09/15/30(B) | 1000000 | 921693 |
| &nbsp;&nbsp;&nbsp;Hercules Capital | &nbsp;&nbsp;&nbsp;Hercules Capital | &nbsp;&nbsp;&nbsp;Hercules Capital |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 06/16/30 | 385000 | 389774 |
| &nbsp;&nbsp;&nbsp;Honda Motor | &nbsp;&nbsp;&nbsp;Honda Motor | &nbsp;&nbsp;&nbsp;Honda Motor |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.688%, 07/08/30 | 1115000 | 1126883 |
| &nbsp;&nbsp;&nbsp;HPS Corporate Lending Fund | &nbsp;&nbsp;&nbsp;HPS Corporate Lending Fund | &nbsp;&nbsp;&nbsp;HPS Corporate Lending Fund |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.450%, 01/14/28 | 1425000 | 1435740 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.450%, 11/15/30(B) | 60000 | 59336 |
| &nbsp;&nbsp;&nbsp;HSBC Holdings | &nbsp;&nbsp;&nbsp;HSBC Holdings | &nbsp;&nbsp;&nbsp;HSBC Holdings |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.240%, SOFRRATE + 1.570%, 05/13/31(A) | 522000 | 537033 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.133%, SOFRRATE + 1.430%, 11/06/36(A) | 1125000 | 1123800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.130%, SOFRRATE + 1.040%, 11/19/28(A) | 505000 | 513546 |

---

---

| | | |
|:---|:---|:---|
| **CORPORATE OBLIGATIONS — continued** | **CORPORATE OBLIGATIONS — continued** | **CORPORATE OBLIGATIONS — continued** |
|  | **Face Amount** | **Value** |
| **FINANCIALS — continued** | **FINANCIALS — continued** | **FINANCIALS — continued** |
| &nbsp;&nbsp;&nbsp;HSBC USA | &nbsp;&nbsp;&nbsp;HSBC USA | &nbsp;&nbsp;&nbsp;HSBC USA |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.650%, 06/03/28 | $535000 | $541997 |
| &nbsp;&nbsp;&nbsp;Huntington Bancshares | &nbsp;&nbsp;&nbsp;Huntington Bancshares | &nbsp;&nbsp;&nbsp;Huntington Bancshares |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.272%, SOFRRATE + 1.276%, 01/15/31(A) | 285000 | 293262 |
| &nbsp;&nbsp;&nbsp;Hyundai Capital America | &nbsp;&nbsp;&nbsp;Hyundai Capital America | &nbsp;&nbsp;&nbsp;Hyundai Capital America |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.100%, 09/21/28(B) | 1005000 | 1051156 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.150%, 03/27/30(B) | 985000 | 1005820 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.250%, 09/18/28(B) | 380000 | 379059 |
| &nbsp;&nbsp;&nbsp;ING Groep | &nbsp;&nbsp;&nbsp;ING Groep | &nbsp;&nbsp;&nbsp;ING Groep |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.858%, SOFRRATE + 1.010%, 03/25/29(A) | 300000 | 303949 |
| &nbsp;&nbsp;&nbsp;Inter-American Development Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.594%, SOFRINDX + 0.300%, 02/15/29(A) | 2500000 | 2495750 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.363%, SOFRINDX + 0.280%, 04/12/27(A) | 1500000 | 1501313 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.500%, 04/12/33 | 2500000 | 2415095 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.125%, 01/13/31 | 2500000 | 2184995 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.875%, 04/20/26 | 1000000 | 985865 |
| &nbsp;&nbsp;&nbsp;Inter-American Investment | &nbsp;&nbsp;&nbsp;Inter-American Investment | &nbsp;&nbsp;&nbsp;Inter-American Investment |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.125%, 02/15/28 | 2500000 | 2518714 |
| &nbsp;&nbsp;&nbsp;International Bank for Reconstruction & Development |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.745%, 07/31/33(E) | 2500000 | 2565828 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.750%, 08/26/30 | 2500000 | 2169867 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.000%, 03/31/27(F) | 2500000 | 2365069 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.000%, 03/31/28(A)(G) | 1000000 | 983168 |
| &nbsp;&nbsp;&nbsp;International Development Association |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 02/12/35(B) | 1425000 | 1458604 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.375%, 11/27/29(B) | 2125000 | 2172815 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.875%, 04/28/26(B) | 1000000 | 984973 |
| &nbsp;&nbsp;&nbsp;International Finance Facility for Immunisation MTN |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.750%, 11/03/25 | 2250000 | 2250000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.000%, 04/21/26 | 2500000 | 2465281 |
| &nbsp;&nbsp;&nbsp;Jackson National Life Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.700%, 06/05/28(B) | 1175000 | 1185286 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.550%, 09/09/30(B) | 925000 | 922395 |
| &nbsp;&nbsp;&nbsp;JBS USA Holding Lux Sarl | &nbsp;&nbsp;&nbsp;JBS USA Holding Lux Sarl | &nbsp;&nbsp;&nbsp;JBS USA Holding Lux Sarl |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.250%, 03/01/56(B) | 1688000 | 1696052 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase | &nbsp;&nbsp;&nbsp;JPMorgan Chase | &nbsp;&nbsp;&nbsp;JPMorgan Chase |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.625%, 10/15/26 | 75000 | 77448 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.576%, SOFRRATE + 1.635%, 07/23/36(A) | 1060000 | 1099174 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.294%, SOFRRATE + 1.460%, 07/22/35(A) | 1205000 | 1246050 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.032%, TSFR3M + 1.722%, 07/24/48(A) | 830000 | 691375 |

---

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS BOND FUND**

**OCTOBER 31, 2025**

---

| | | |
|:---|:---|:---|
| **CORPORATE OBLIGATIONS — continued** | **CORPORATE OBLIGATIONS — continued** | **CORPORATE OBLIGATIONS — continued** |
|  | **Face <br> Amount** | **Value** |
| **FINANCIALS — continued** | **FINANCIALS — continued** | **FINANCIALS — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.328%, U.S. SOFR + 1.580%, 04/22/52(A) | $2075000 | $1493769 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.956%, TSFR3M + 2.515%, 05/13/31(A) | 975000 | 916714 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.522%, U.S. SOFR + 2.040%, 04/22/31(A) | 725000 | 673503 |
| &nbsp;&nbsp;&nbsp;KBC Group | &nbsp;&nbsp;&nbsp;KBC Group | &nbsp;&nbsp;&nbsp;KBC Group |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.454%, H15T1Y + 0.850%, 09/23/31(A)(B) | 1680000 | 1670766 |
| &nbsp;&nbsp;&nbsp;KEB Hana Bank | &nbsp;&nbsp;&nbsp;KEB Hana Bank | &nbsp;&nbsp;&nbsp;KEB Hana Bank |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.843%, SOFRRATE + 0.600%, 10/21/28(A)(B) | 1425000 | 1428588 |
| &nbsp;&nbsp;&nbsp;KeyCorp MTN | &nbsp;&nbsp;&nbsp;KeyCorp MTN | &nbsp;&nbsp;&nbsp;KeyCorp MTN |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.250%, 04/06/27 | 4865000 | 4730716 |
| &nbsp;&nbsp;&nbsp;Kreditanstalt fuer Wiederaufbau |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.375%, 02/28/34 | 2500000 | 2559465 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.750%, 09/14/29 | 2500000 | 2327203 |
| &nbsp;&nbsp;&nbsp;Liberty Utilities Finance GP 1 | &nbsp;&nbsp;&nbsp;Liberty Utilities Finance GP 1 | &nbsp;&nbsp;&nbsp;Liberty Utilities Finance GP 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.050%, 09/15/30(B) | 2500000 | 2239648 |
| &nbsp;&nbsp;&nbsp;Lincoln Financial Global Funding | &nbsp;&nbsp;&nbsp;Lincoln Financial Global Funding | &nbsp;&nbsp;&nbsp;Lincoln Financial Global Funding |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.625%, 05/28/28(B) | 825000 | 832043 |
| &nbsp;&nbsp;&nbsp;Lloyds Banking Group | &nbsp;&nbsp;&nbsp;Lloyds Banking Group | &nbsp;&nbsp;&nbsp;Lloyds Banking Group |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.818%, H15T1Y + 0.830%, 06/13/29(A) | 945000 | 958024 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.650%, 03/24/26 | 1000000 | 1000796 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.425%, H15T1Y + 0.820%, 11/04/31(A) | 650000 | 648556 |
| &nbsp;&nbsp;&nbsp;Low Income Investment Fund | &nbsp;&nbsp;&nbsp;Low Income Investment Fund | &nbsp;&nbsp;&nbsp;Low Income Investment Fund |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.711%, 07/01/29 | 2500000 | 2410413 |
| &nbsp;&nbsp;&nbsp;LPL Holdings | &nbsp;&nbsp;&nbsp;LPL Holdings | &nbsp;&nbsp;&nbsp;LPL Holdings |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.150%, 06/15/30 | 585000 | 595396 |
| &nbsp;&nbsp;&nbsp;LYB International Finance III | &nbsp;&nbsp;&nbsp;LYB International Finance III | &nbsp;&nbsp;&nbsp;LYB International Finance III |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.375%, 10/01/40 | 1255000 | 931395 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.250%, 10/01/30 | 100000 | 89284 |
| &nbsp;&nbsp;&nbsp;M&T Bank | &nbsp;&nbsp;&nbsp;M&T Bank | &nbsp;&nbsp;&nbsp;M&T Bank |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.385%, SOFRRATE + 1.610%, 01/16/36(A) | 2050000 | 2076478 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.179%, SOFRRATE + 1.400%, 07/08/31(A) | 590000 | 602565 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.833%, SOFRRATE + 0.930%, 01/16/29(A) | 2500000 | 2530049 |
| &nbsp;&nbsp;&nbsp;Macquarie Airfinance Holdings | &nbsp;&nbsp;&nbsp;Macquarie Airfinance Holdings | &nbsp;&nbsp;&nbsp;Macquarie Airfinance Holdings |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.200%, 03/27/28(B) | 600000 | 609453 |
| &nbsp;&nbsp;&nbsp;Main Street Capital | &nbsp;&nbsp;&nbsp;Main Street Capital | &nbsp;&nbsp;&nbsp;Main Street Capital |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.500%, 06/04/27 | 815000 | 830837 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.400%, 08/15/28 | 390000 | 389710 |
| &nbsp;&nbsp;&nbsp;Marex Group | &nbsp;&nbsp;&nbsp;Marex Group | &nbsp;&nbsp;&nbsp;Marex Group |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.404%, 11/04/29 | 635000 | 652667 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.829%, 05/08/28 | 695000 | 703426 |
| &nbsp;&nbsp;&nbsp;Markel Group | &nbsp;&nbsp;&nbsp;Markel Group | &nbsp;&nbsp;&nbsp;Markel Group |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 05/16/54 | 1080000 | 1112577 |

---

---

| | | |
|:---|:---|:---|
| **CORPORATE OBLIGATIONS — continued** | **CORPORATE OBLIGATIONS — continued** | **CORPORATE OBLIGATIONS — continued** |
|  | **Face Amount** | **Value** |
| **FINANCIALS — continued** |  |  |
| &nbsp;&nbsp;&nbsp;Massachusetts Higher Education Assistance |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.673%, 07/01/31 | $500000 | $439835 |
| &nbsp;&nbsp;&nbsp;MassMutual Global Funding II | &nbsp;&nbsp;&nbsp;MassMutual Global Funding II | &nbsp;&nbsp;&nbsp;MassMutual Global Funding II |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.950%, 01/10/30(B) | 1430000 | 1466292 |
| &nbsp;&nbsp;&nbsp;Mastercard | &nbsp;&nbsp;&nbsp;Mastercard | &nbsp;&nbsp;&nbsp;Mastercard |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.900%, 03/15/31 | 2500000 | 2233048 |
| &nbsp;&nbsp;&nbsp;Methanex US Operations | &nbsp;&nbsp;&nbsp;Methanex US Operations | &nbsp;&nbsp;&nbsp;Methanex US Operations |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.250%, 03/15/32(B) | 640000 | 650991 |
| &nbsp;&nbsp;&nbsp;Mitsubishi HC Finance America | &nbsp;&nbsp;&nbsp;Mitsubishi HC Finance America | &nbsp;&nbsp;&nbsp;Mitsubishi HC Finance America |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.150%, 10/24/29(B) | 1105000 | 1131653 |
| &nbsp;&nbsp;&nbsp;Mizuho Financial Group | &nbsp;&nbsp;&nbsp;Mizuho Financial Group | &nbsp;&nbsp;&nbsp;Mizuho Financial Group |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.778%, H15T1Y + 1.650%, 07/06/29(A) | 1000000 | 1039920 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.748%, H15T1Y + 1.900%, 07/06/34(A) | 1650000 | 1755075 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.711%, H15T1Y + 0.920%, 07/08/31(A) | 1450000 | 1466740 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | &nbsp;&nbsp;&nbsp;Morgan Stanley | &nbsp;&nbsp;&nbsp;Morgan Stanley |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.466%, SOFRRATE + 1.730%, 01/18/35(A) | 1585000 | 1648502 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.230%, SOFRRATE + 1.108%, 01/15/31(A) | 850000 | 877142 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.892%, SOFRRATE + 1.314%, 10/22/36(A) | 620000 | 616223 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.654%, SOFRRATE + 1.100%, 10/18/30(A) | 1380000 | 1396049 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.431%, TSFR3M + 1.890%, 01/23/30(A) | 475000 | 477811 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.217%, U.S. SOFR + 1.485%, 04/22/42(A) | 1610000 | 1263035 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.239%, SOFRRATE + 1.178%, 07/21/32(A) | 1700000 | 1504882 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley Direct Lending Fund |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 05/19/30 | 415000 | 424354 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley Private Bank | &nbsp;&nbsp;&nbsp;Morgan Stanley Private Bank | &nbsp;&nbsp;&nbsp;Morgan Stanley Private Bank |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.734%, SOFRRATE + 1.080%, 07/18/31(A) | 1185000 | 1203701 |
| &nbsp;&nbsp;&nbsp;MSD Investment | &nbsp;&nbsp;&nbsp;MSD Investment | &nbsp;&nbsp;&nbsp;MSD Investment |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.250%, 05/31/30(B) | 270000 | 271949 |
| &nbsp;&nbsp;&nbsp;Mutual of Omaha Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 04/01/30(B) | 255000 | 260018 |
| &nbsp;&nbsp;&nbsp;National Bank of Canada | &nbsp;&nbsp;&nbsp;National Bank of Canada | &nbsp;&nbsp;&nbsp;National Bank of Canada |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 10/10/29 | 935000 | 943351 |
| &nbsp;&nbsp;&nbsp;National Community Renaissance of California |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.270%, 12/01/32 | 1000000 | 880282 |
| &nbsp;&nbsp;&nbsp;Nationwide Building Society | &nbsp;&nbsp;&nbsp;Nationwide Building Society | &nbsp;&nbsp;&nbsp;Nationwide Building Society |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.127%, 07/29/29(B) | 1075000 | 1106966 |

---

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS BOND FUND**

**OCTOBER 31, 2025**

---

| | | |
|:---|:---|:---|
| **CORPORATE OBLIGATIONS — continued** | **CORPORATE OBLIGATIONS — continued** | **CORPORATE OBLIGATIONS — continued** |
|  | **Face Amount** | **Value** |
| **FINANCIALS — continued** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.649%, SOFRRATE + 1.060%, 07/14/29(A)(B) | $875000 | $881664 |
| &nbsp;&nbsp;&nbsp;NatWest Group |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.808%, H15T1Y + 1.950%, 09/13/29(A) | 3355000 | 3492148 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.778%, H15T1Y + 1.500%, 03/01/35(A) | 1910000 | 2021357 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.642%, H15T1Y + 0.900%, 06/14/27(A) | 1750000 | 1722106 |
| &nbsp;&nbsp;&nbsp;NatWest Markets |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.789%, 03/21/28(B) | 1045000 | 1060443 |
| &nbsp;&nbsp;&nbsp;New York Life Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.150%, 07/25/28(B) | 1500000 | 1505356 |
| &nbsp;&nbsp;&nbsp;NHP Foundation |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 12/01/33 | 1000000 | 1078533 |
| &nbsp;&nbsp;&nbsp;NLG Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.400%, 01/23/30(B) | 515000 | 532009 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.350%, 09/15/30(B) | 1230000 | 1218011 |
| &nbsp;&nbsp;&nbsp;Norinchukin Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.674%, 09/09/30(B) | 590000 | 593352 |
| &nbsp;&nbsp;&nbsp;North Haven Private Income Fund |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.125%, 09/25/28(B) | 335000 | 332650 |
| &nbsp;&nbsp;&nbsp;Oaktree Strategic Credit Fund |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.400%, 11/14/28 | 1480000 | 1595520 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.190%, 07/15/30(B) | 178000 | 179334 |
| &nbsp;&nbsp;&nbsp;Oberlin College |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.874%, 10/01/51 | 1000000 | 640427 |
| &nbsp;&nbsp;&nbsp;OneMain Financial Issuance Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.625%, 05/15/29 | 290000 | 298227 |
| &nbsp;&nbsp;&nbsp;OPEC Fund for International Development MTN |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 01/26/26 | 2500000 | 2501337 |
| &nbsp;&nbsp;&nbsp;Pacific Life Global Funding II |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.850%, 02/10/30(B) | 1205000 | 1229995 |
| &nbsp;&nbsp;&nbsp;Pricoa Global Funding I |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.750%, 08/26/32(B) | 985000 | 989668 |
| &nbsp;&nbsp;&nbsp;Principal Life Global Funding II |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.600%, 08/19/27(B) | 485000 | 489326 |
| &nbsp;&nbsp;&nbsp;Prologis Targeted US Logistics Fund |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.250%, 01/15/31‡(B) | 375000 | 372115 |
| &nbsp;&nbsp;&nbsp;Raizen Fuels Finance |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.950%, 03/05/54(B) | 1075000 | 833365 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.450%, 03/05/34(B) | 375000 | 319219 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.250%, 07/08/32(B) | 900000 | 765000 |
| &nbsp;&nbsp;&nbsp;RGA Global Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/25/32(B) | 1545000 | 1554230 |
| &nbsp;&nbsp;&nbsp;Rockefeller Foundation |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.492%, 10/01/50 | 1000000 | 617237 |

---

---

| | | |
|:---|:---|:---|
| **CORPORATE OBLIGATIONS — continued** | **CORPORATE OBLIGATIONS — continued** | **CORPORATE OBLIGATIONS — continued** |
|  | **Face Amount** | **Value** |
| **FINANCIALS — continued** | **FINANCIALS — continued** | **FINANCIALS — continued** |
| &nbsp;&nbsp;&nbsp;Rocket | &nbsp;&nbsp;&nbsp;Rocket | &nbsp;&nbsp;&nbsp;Rocket |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.500%, 08/01/29(B) | $443000 | $459324 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.125%, 08/01/30(B) | 1330000 | 1371872 |
| &nbsp;&nbsp;&nbsp;Royal Bank of Canada | &nbsp;&nbsp;&nbsp;Royal Bank of Canada | &nbsp;&nbsp;&nbsp;Royal Bank of Canada |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.153%, SOFRRATE + 1.030%, 02/04/31(A) | 565000 | 581539 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.969%, SOFRRATE + 1.100%, 08/02/30(A) | 25000 | 25570 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.498%, SOFRRATE + 0.890%, 08/06/29(A) | 2070000 | 2085736 |
| &nbsp;&nbsp;&nbsp;RWE Finance US | &nbsp;&nbsp;&nbsp;RWE Finance US | &nbsp;&nbsp;&nbsp;RWE Finance US |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.250%, 04/16/54(B) | 2000000 | 2058428 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.875%, 09/18/55(B) | 1550000 | 1525585 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.125%, 09/18/35(B) | 1075000 | 1059815 |
| &nbsp;&nbsp;&nbsp;Salvation Army | &nbsp;&nbsp;&nbsp;Salvation Army | &nbsp;&nbsp;&nbsp;Salvation Army |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.528%, 09/01/48 | 1500000 | 1338988 |
| &nbsp;&nbsp;&nbsp;Sammons Financial Group Global Funding | &nbsp;&nbsp;&nbsp;Sammons Financial Group Global Funding | &nbsp;&nbsp;&nbsp;Sammons Financial Group Global Funding |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.950%, 06/12/30(B) | 1370000 | 1384801 |
| &nbsp;&nbsp;&nbsp;Santander Holdings USA | &nbsp;&nbsp;&nbsp;Santander Holdings USA | &nbsp;&nbsp;&nbsp;Santander Holdings USA |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.353%, SOFRRATE + 1.940%, 09/06/30(A) | 2125000 | 2164409 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.244%, 10/05/26 | 3020000 | 2996605 |
| &nbsp;&nbsp;&nbsp;Santander UK Group Holdings | &nbsp;&nbsp;&nbsp;Santander UK Group Holdings | &nbsp;&nbsp;&nbsp;Santander UK Group Holdings |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.136%, SOFRINDX + 1.578%, 09/22/36(A) | 570000 | 564511 |
| &nbsp;&nbsp;&nbsp;SBL Holdings | &nbsp;&nbsp;&nbsp;SBL Holdings | &nbsp;&nbsp;&nbsp;SBL Holdings |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.200%, 10/30/34(B) | 835000 | 814947 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.900%, 09/26/28(B) | 681000 | 677266 |
| &nbsp;&nbsp;&nbsp;SiriusPoint | &nbsp;&nbsp;&nbsp;SiriusPoint | &nbsp;&nbsp;&nbsp;SiriusPoint |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.000%, 04/05/29 | 755000 | 796359 |
| &nbsp;&nbsp;&nbsp;Sitios Latinoamerica | &nbsp;&nbsp;&nbsp;Sitios Latinoamerica | &nbsp;&nbsp;&nbsp;Sitios Latinoamerica |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 11/25/29(B) | 655000 | 676661 |
| &nbsp;&nbsp;&nbsp;Sixth Street Lending Partners | &nbsp;&nbsp;&nbsp;Sixth Street Lending Partners | &nbsp;&nbsp;&nbsp;Sixth Street Lending Partners |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.500%, 03/11/29 | 765000 | 792733 |
| &nbsp;&nbsp;&nbsp;Societe Generale | &nbsp;&nbsp;&nbsp;Societe Generale | &nbsp;&nbsp;&nbsp;Societe Generale |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.512%, SOFRRATE + 1.650%, 05/22/31(A)(B) | 1235000 | 1269294 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 02/19/27(B) | 200000 | 201980 |
| &nbsp;&nbsp;&nbsp;SoftBank | &nbsp;&nbsp;&nbsp;SoftBank | &nbsp;&nbsp;&nbsp;SoftBank |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.699%, 07/09/30(B) | 960000 | 967051 |
| &nbsp;&nbsp;&nbsp;Solar Star Funding | &nbsp;&nbsp;&nbsp;Solar Star Funding | &nbsp;&nbsp;&nbsp;Solar Star Funding |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.950%, 06/30/35(B) | 835667 | 799617 |
| &nbsp;&nbsp;&nbsp;Standard Chartered | &nbsp;&nbsp;&nbsp;Standard Chartered | &nbsp;&nbsp;&nbsp;Standard Chartered |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.400%, H15T1Y + 1.200%, 08/12/36(A)(B) | 520000 | 528314 |
| &nbsp;&nbsp;&nbsp;Starwood Property Trust | &nbsp;&nbsp;&nbsp;Starwood Property Trust | &nbsp;&nbsp;&nbsp;Starwood Property Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.250%, 04/01/29‡(B) | 750000 | 789716 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.500%, 10/15/30‡(B) | 263000 | 273623 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 10/15/28‡(B) | 720000 | 722506 |

---

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS BOND FUND**

**OCTOBER 31, 2025**

---

| | | |
|:---|:---|:---|
| **CORPORATE OBLIGATIONS — continued** | **CORPORATE OBLIGATIONS — continued** | **CORPORATE OBLIGATIONS — continued** |
|  | **Face Amount** | **Value** |
| **FINANCIALS — continued** | **FINANCIALS — continued** | **FINANCIALS — continued** |
| &nbsp;&nbsp;&nbsp;Sumitomo Mitsui Financial Group | &nbsp;&nbsp;&nbsp;Sumitomo Mitsui Financial Group | &nbsp;&nbsp;&nbsp;Sumitomo Mitsui Financial Group |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.660%, SOFRRATE + 1.190%, 07/08/31(A) | $690000 | $697345 |
| &nbsp;&nbsp;&nbsp;Svenska Handelsbanken | &nbsp;&nbsp;&nbsp;Svenska Handelsbanken | &nbsp;&nbsp;&nbsp;Svenska Handelsbanken |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.375%, 05/23/28(B) | 1075000 | 1085693 |
| &nbsp;&nbsp;&nbsp;Synchrony Financial | &nbsp;&nbsp;&nbsp;Synchrony Financial | &nbsp;&nbsp;&nbsp;Synchrony Financial |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.935%, SOFRINDX + 2.130%, 08/02/30(A) | 540000 | 558462 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.450%, SOFRRATE + 1.680%, 03/06/31(A) | 360000 | 366047 |
| &nbsp;&nbsp;&nbsp;Toronto-Dominion Bank | &nbsp;&nbsp;&nbsp;Toronto-Dominion Bank | &nbsp;&nbsp;&nbsp;Toronto-Dominion Bank |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.146%, H15T5Y + 1.500%, 09/10/34(A) | 4125000 | 4180188 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.928%, 10/15/35 | 735000 | 736307 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.568%, 12/17/26 | 9100000 | 9149907 |
| &nbsp;&nbsp;&nbsp;TPG Operating Group II | &nbsp;&nbsp;&nbsp;TPG Operating Group II | &nbsp;&nbsp;&nbsp;TPG Operating Group II |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.375%, 01/15/36 | 1065000 | 1066383 |
| &nbsp;&nbsp;&nbsp;Truist Bank | &nbsp;&nbsp;&nbsp;Truist Bank | &nbsp;&nbsp;&nbsp;Truist Bank |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.632%, H15T5Y + 1.150%, 09/17/29(A) | 2735000 | 2743261 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.420%, SOFRRATE + 0.770%, 07/24/28(A) | 1250000 | 1254667 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.136%, SOFRRATE + 0.911%, 10/23/29(A) | 1485000 | 1478470 |
| &nbsp;&nbsp;&nbsp;Truist Financial | &nbsp;&nbsp;&nbsp;Truist Financial | &nbsp;&nbsp;&nbsp;Truist Financial |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.950%, H15T5Y + 4.605%(A)(D) | 3885000 | 3881041 |
| &nbsp;&nbsp;&nbsp;Turkcell Iletisim Hizmetleri | &nbsp;&nbsp;&nbsp;Turkcell Iletisim Hizmetleri | &nbsp;&nbsp;&nbsp;Turkcell Iletisim Hizmetleri |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.650%, 01/24/32(B) | 1025000 | 1073144 |
| &nbsp;&nbsp;&nbsp;UBS Group | &nbsp;&nbsp;&nbsp;UBS Group | &nbsp;&nbsp;&nbsp;UBS Group |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.125%, H15T5Y + 4.855%(A)(D) | 4090000 | 4074662 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.875%, H15T5Y + 3.098%(A)(B)(C)(D) | 2970000 | 2931632 |
| &nbsp;&nbsp;&nbsp;UniCredit MTN | &nbsp;&nbsp;&nbsp;UniCredit MTN | &nbsp;&nbsp;&nbsp;UniCredit MTN |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.296%, USISDA05 + 4.914%, 04/02/34(A)(B) | 2400000 | 2574245 |
| &nbsp;&nbsp;&nbsp;Unum Group | &nbsp;&nbsp;&nbsp;Unum Group | &nbsp;&nbsp;&nbsp;Unum Group |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.750%, 12/15/28 | 465000 | 493944 |
| &nbsp;&nbsp;&nbsp;US Bancorp | &nbsp;&nbsp;&nbsp;US Bancorp | &nbsp;&nbsp;&nbsp;US Bancorp |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.300%, TSFR3M + 3.176%(A)(D) | 1860000 | 1860180 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.839%, SOFRRATE + 1.600%, 02/01/34(A) | 1438000 | 1444819 |
| &nbsp;&nbsp;&nbsp;US Bank | &nbsp;&nbsp;&nbsp;US Bank | &nbsp;&nbsp;&nbsp;US Bank |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.507%, SOFRRATE + 0.690%, 10/22/27(A) | 1155000 | 1158764 |
| &nbsp;&nbsp;&nbsp;USAA Capital | &nbsp;&nbsp;&nbsp;USAA Capital | &nbsp;&nbsp;&nbsp;USAA Capital |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.125%, 05/01/30(B) | 5000000 | 4589919 |
| &nbsp;&nbsp;&nbsp;Vmed O2 UK Financing I | &nbsp;&nbsp;&nbsp;Vmed O2 UK Financing I | &nbsp;&nbsp;&nbsp;Vmed O2 UK Financing I |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.750%, 01/15/33(B) | 1960000 | 1965688 |

---

---

| | | |
|:---|:---|:---|
| **CORPORATE OBLIGATIONS — continued** | **CORPORATE OBLIGATIONS — continued** | **CORPORATE OBLIGATIONS — continued** |
|  | **Face Amount** | **Value** |
| **FINANCIALS — continued** | **FINANCIALS — continued** | **FINANCIALS — continued** |
| &nbsp;&nbsp;&nbsp;Volkswagen Group of America Finance |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.850%, 09/11/30(B) | 617000 | 621127 |
| &nbsp;&nbsp;&nbsp;Weir Group | &nbsp;&nbsp;&nbsp;Weir Group | &nbsp;&nbsp;&nbsp;Weir Group |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.350%, 05/06/30(B) | 665000 | 682265 |
| &nbsp;&nbsp;&nbsp;Wells Fargo | &nbsp;&nbsp;&nbsp;Wells Fargo | &nbsp;&nbsp;&nbsp;Wells Fargo |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.605%, SOFRRATE + 1.740%, 04/23/36(A) | 650000 | 682435 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.900%, H15T5Y + 3.453%(A)(D) | 2160000 | 2143961 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.350%, SOFRRATE + 1.500%, 03/02/33(A) | 525000 | 489273 |
| &nbsp;&nbsp;&nbsp;Western-Southern Global Funding | &nbsp;&nbsp;&nbsp;Western-Southern Global Funding | &nbsp;&nbsp;&nbsp;Western-Southern Global Funding |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 07/16/28(B) | 1205000 | 1212555 |
| &nbsp;&nbsp;&nbsp;WK Kellogg Foundation Trust | &nbsp;&nbsp;&nbsp;WK Kellogg Foundation Trust | &nbsp;&nbsp;&nbsp;WK Kellogg Foundation Trust |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.443%, 10/01/50(B) | 2500000 | 1520115 |
| &nbsp;&nbsp;&nbsp;WLB Asset II D Pte | &nbsp;&nbsp;&nbsp;WLB Asset II D Pte | &nbsp;&nbsp;&nbsp;WLB Asset II D Pte |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.500%, 12/21/26(B) | 2500000 | 2412353 |
| &nbsp;&nbsp;&nbsp;WLB Asset VI Pte | &nbsp;&nbsp;&nbsp;WLB Asset VI Pte | &nbsp;&nbsp;&nbsp;WLB Asset VI Pte |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.250%, 12/21/27(B) | 1500000 | 1566394 |
| &nbsp;&nbsp;&nbsp;WLB Asset VII Pte | &nbsp;&nbsp;&nbsp;WLB Asset VII Pte | &nbsp;&nbsp;&nbsp;WLB Asset VII Pte |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.880%, 07/30/29(B) | 500000 | 501689 |
| &nbsp;&nbsp;&nbsp;ZF North America Capital | &nbsp;&nbsp;&nbsp;ZF North America Capital | &nbsp;&nbsp;&nbsp;ZF North America Capital |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.500%, 03/24/31(B) | 985000 | 947980 |
|  |  | 399552779 |
| **HEALTH CARE — 0.2%** |  |  |
| &nbsp;&nbsp;&nbsp;Cardinal Health | &nbsp;&nbsp;&nbsp;Cardinal Health | &nbsp;&nbsp;&nbsp;Cardinal Health |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/15/29 | 1550000 | 1591471 |
| &nbsp;&nbsp;&nbsp;Cigna Group | &nbsp;&nbsp;&nbsp;Cigna Group | &nbsp;&nbsp;&nbsp;Cigna Group |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.875%, 05/15/27 | 651000 | 685231 |
| &nbsp;&nbsp;&nbsp;CVS Health | &nbsp;&nbsp;&nbsp;CVS Health | &nbsp;&nbsp;&nbsp;CVS Health |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.200%, 09/15/55 | 1605000 | 1648396 |
| &nbsp;&nbsp;&nbsp;Elevance Health | &nbsp;&nbsp;&nbsp;Elevance Health | &nbsp;&nbsp;&nbsp;Elevance Health |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 09/15/28 | 1370000 | 1363494 |
|  |  | 5288592 |
| **INDUSTRIALS — 0.6%** | **INDUSTRIALS — 0.6%** | **INDUSTRIALS — 0.6%** |
| &nbsp;&nbsp;&nbsp;AerCap Ireland Capital DAC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.300%, 01/30/32 | 1855000 | 1711889 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 10/29/28 | 225000 | 217254 |
| &nbsp;&nbsp;&nbsp;Cummins | &nbsp;&nbsp;&nbsp;Cummins | &nbsp;&nbsp;&nbsp;Cummins |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.300%, 05/09/35 | 745000 | 770925 |
| &nbsp;&nbsp;&nbsp;Family Forest Impact Foundation |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 07/01/32 | 1250000 | 1250656 |
| &nbsp;&nbsp;&nbsp;GATX | &nbsp;&nbsp;&nbsp;GATX | &nbsp;&nbsp;&nbsp;GATX |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.050%, 06/05/54 | 1164000 | 1194951 |
| &nbsp;&nbsp;&nbsp;Hubbell | &nbsp;&nbsp;&nbsp;Hubbell | &nbsp;&nbsp;&nbsp;Hubbell |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.800%, 11/15/35 | 320000 | 318526 |
| &nbsp;&nbsp;&nbsp;JB Hunt Transport Services | &nbsp;&nbsp;&nbsp;JB Hunt Transport Services | &nbsp;&nbsp;&nbsp;JB Hunt Transport Services |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.900%, 03/15/30 | 405000 | 414268 |

---

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS BOND FUND**

**OCTOBER 31, 2025**

---

| | | |
|:---|:---|:---|
| **CORPORATE OBLIGATIONS — continued** | **CORPORATE OBLIGATIONS — continued** | **CORPORATE OBLIGATIONS — continued** |
|  | **Face <br> Amount** | **Value** |
| **INDUSTRIALS — continued** | **INDUSTRIALS — continued** | **INDUSTRIALS — continued** |
| &nbsp;&nbsp;&nbsp;Mileage Plan IP | &nbsp;&nbsp;&nbsp;Mileage Plan IP | &nbsp;&nbsp;&nbsp;Mileage Plan IP |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.021%, 10/20/29(B) | 1871000 | 1865581 |
| &nbsp;&nbsp;&nbsp;Nature Conservancy | &nbsp;&nbsp;&nbsp;Nature Conservancy | &nbsp;&nbsp;&nbsp;Nature Conservancy |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.957%, 03/01/52 | 2485000 | 1996258 |
| &nbsp;&nbsp;&nbsp;Norfolk Southern | &nbsp;&nbsp;&nbsp;Norfolk Southern | &nbsp;&nbsp;&nbsp;Norfolk Southern |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.300%, 05/15/31 | 3500000 | 3157076 |
| &nbsp;&nbsp;&nbsp;Southwest Airlines | &nbsp;&nbsp;&nbsp;Southwest Airlines | &nbsp;&nbsp;&nbsp;Southwest Airlines |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.375%, 11/15/28 | 725000 | 723077 |
| &nbsp;&nbsp;&nbsp;Union Pacific Railroad Pass Through Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.176%, 01/02/31 | 11878 | 12656 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.082%, 01/02/29 | 9755 | 9850 |
|  |  | 13642967 |
| **INFORMATION TECHNOLOGY — 0.9%** | **INFORMATION TECHNOLOGY — 0.9%** | **INFORMATION TECHNOLOGY — 0.9%** |
| &nbsp;&nbsp;&nbsp;Analog Devices | &nbsp;&nbsp;&nbsp;Analog Devices | &nbsp;&nbsp;&nbsp;Analog Devices |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.250%, 06/15/28 | 1155000 | 1162410 |
| &nbsp;&nbsp;&nbsp;Apple | &nbsp;&nbsp;&nbsp;Apple | &nbsp;&nbsp;&nbsp;Apple |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 06/20/27 | 2500000 | 2470396 |
| &nbsp;&nbsp;&nbsp;Arrow Electronics | &nbsp;&nbsp;&nbsp;Arrow Electronics | &nbsp;&nbsp;&nbsp;Arrow Electronics |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.150%, 08/21/29 | 845000 | 862614 |
| &nbsp;&nbsp;&nbsp;Broadcom | &nbsp;&nbsp;&nbsp;Broadcom | &nbsp;&nbsp;&nbsp;Broadcom |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.900%, 07/15/32 | 740000 | 756112 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.200%, 10/15/30 | 685000 | 683204 |
| &nbsp;&nbsp;&nbsp;Dell International | &nbsp;&nbsp;&nbsp;Dell International | &nbsp;&nbsp;&nbsp;Dell International |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.020%, 06/15/26 | 20000 | 20148 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.750%, 10/06/32 | 1075000 | 1071469 |
| &nbsp;&nbsp;&nbsp;Hewlett Packard Enterprise |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.400%, 10/15/30 | 1175000 | 1166203 |
| &nbsp;&nbsp;&nbsp;Kyndryl Holdings | &nbsp;&nbsp;&nbsp;Kyndryl Holdings | &nbsp;&nbsp;&nbsp;Kyndryl Holdings |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.350%, 02/20/34 | 1500000 | 1595241 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.150%, 10/15/31 | 1725000 | 1571975 |
| &nbsp;&nbsp;&nbsp;Microchip Technology | &nbsp;&nbsp;&nbsp;Microchip Technology | &nbsp;&nbsp;&nbsp;Microchip Technology |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.050%, 02/15/30 | 610000 | 622064 |
| &nbsp;&nbsp;&nbsp;NXP BV | &nbsp;&nbsp;&nbsp;NXP BV | &nbsp;&nbsp;&nbsp;NXP BV |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.300%, 08/19/28 | 625000 | 625787 |
| &nbsp;&nbsp;&nbsp;Oracle | &nbsp;&nbsp;&nbsp;Oracle | &nbsp;&nbsp;&nbsp;Oracle |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.950%, 09/26/55 | 2165000 | 2053757 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.375%, 09/27/54 | 2410000 | 2118605 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.900%, 05/15/35 | 2445000 | 2184263 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.600%, 04/01/40 | 495000 | 387649 |
| &nbsp;&nbsp;&nbsp;QUALCOMM | &nbsp;&nbsp;&nbsp;QUALCOMM | &nbsp;&nbsp;&nbsp;QUALCOMM |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 05/20/35 | 595000 | 606531 |
| &nbsp;&nbsp;&nbsp;Roper Technologies | &nbsp;&nbsp;&nbsp;Roper Technologies | &nbsp;&nbsp;&nbsp;Roper Technologies |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.250%, 09/15/28 | 325000 | 325851 |
| &nbsp;&nbsp;&nbsp;TD SYNNEX | &nbsp;&nbsp;&nbsp;TD SYNNEX | &nbsp;&nbsp;&nbsp;TD SYNNEX |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.300%, 01/17/29 | 625000 | 623659 |
| &nbsp;&nbsp;&nbsp;Tyco Electronics Group | &nbsp;&nbsp;&nbsp;Tyco Electronics Group | &nbsp;&nbsp;&nbsp;Tyco Electronics Group |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.625%, 02/01/30 | 1025000 | 1041859 |

---

---

| | | |
|:---|:---|:---|
| **CORPORATE OBLIGATIONS — continued** | **CORPORATE OBLIGATIONS — continued** | **CORPORATE OBLIGATIONS — continued** |
|  | **Face <br> Amount** | **Value** |
| **INFORMATION TECHNOLOGY — continued** | **INFORMATION TECHNOLOGY — continued** | **INFORMATION TECHNOLOGY — continued** |
| &nbsp;&nbsp;&nbsp;VMware | &nbsp;&nbsp;&nbsp;VMware | &nbsp;&nbsp;&nbsp;VMware |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.400%, 08/15/26 | 525000 | 514168 |
|  |  | 22463965 |
| **MATERIALS — 0.7%** | **MATERIALS — 0.7%** | **MATERIALS — 0.7%** |
| &nbsp;&nbsp;&nbsp;Air Products and Chemicals |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.800%, 03/03/33 | 1500000 | 1525717 |
| &nbsp;&nbsp;&nbsp;Alcoa Nederland Holding BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.125%, 03/15/31(B) | 1030000 | 1088637 |
| &nbsp;&nbsp;&nbsp;Amcor Flexibles North America |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.800%, 03/17/28 | 925000 | 936163 |
| &nbsp;&nbsp;&nbsp;Dow Chemical | &nbsp;&nbsp;&nbsp;Dow Chemical | &nbsp;&nbsp;&nbsp;Dow Chemical |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.600%, 02/15/54 | 250000 | 224345 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.550%, 11/30/48 | 35000 | 31727 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.150%, 02/15/34(C) | 4000000 | 4004751 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.800%, 01/15/31 | 1310000 | 1304492 |
| &nbsp;&nbsp;&nbsp;Eastman Chemical | &nbsp;&nbsp;&nbsp;Eastman Chemical | &nbsp;&nbsp;&nbsp;Eastman Chemical |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/01/29 | 480000 | 488481 |
| &nbsp;&nbsp;&nbsp;FMG Resources August 2006 Pty |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.125%, 04/15/32(B) | 2500000 | 2608377 |
| &nbsp;&nbsp;&nbsp;Freeport-McMoRan | &nbsp;&nbsp;&nbsp;Freeport-McMoRan | &nbsp;&nbsp;&nbsp;Freeport-McMoRan |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 09/01/29 | 1532000 | 1556581 |
| &nbsp;&nbsp;&nbsp;Inversiones CMPC | &nbsp;&nbsp;&nbsp;Inversiones CMPC | &nbsp;&nbsp;&nbsp;Inversiones CMPC |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.125%, 06/23/33(B) | 1060000 | 1098570 |
| &nbsp;&nbsp;&nbsp;LD Celulose International GmbH |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.950%, 01/26/32(B) | 375000 | 394580 |
| &nbsp;&nbsp;&nbsp;PPG Industries | &nbsp;&nbsp;&nbsp;PPG Industries | &nbsp;&nbsp;&nbsp;PPG Industries |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.375%, 03/15/31 | 1050000 | 1045605 |
| &nbsp;&nbsp;&nbsp;Smurfit Kappa Treasury ULC | &nbsp;&nbsp;&nbsp;Smurfit Kappa Treasury ULC | &nbsp;&nbsp;&nbsp;Smurfit Kappa Treasury ULC |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.438%, 04/03/34 | 2250000 | 2330461 |
|  |  | 18638487 |
| **REAL ESTATE — 0.4%** |  |  |
| &nbsp;&nbsp;&nbsp;American Tower | &nbsp;&nbsp;&nbsp;American Tower | &nbsp;&nbsp;&nbsp;American Tower |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.350%, 03/15/35<sup>‡</sup> | 870000 | 893697 |
| &nbsp;&nbsp;&nbsp;COPT Defense Properties | &nbsp;&nbsp;&nbsp;COPT Defense Properties | &nbsp;&nbsp;&nbsp;COPT Defense Properties |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 10/15/30<sup>‡</sup> | 350000 | 347819 |
| &nbsp;&nbsp;&nbsp;ERP Operating | &nbsp;&nbsp;&nbsp;ERP Operating | &nbsp;&nbsp;&nbsp;ERP Operating |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.150%, 12/01/28<sup>‡</sup> | 3672000 | 3682910 |
| &nbsp;&nbsp;&nbsp;Essential Properties | &nbsp;&nbsp;&nbsp;Essential Properties | &nbsp;&nbsp;&nbsp;Essential Properties |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.400%, 12/01/35<sup>‡</sup> | 500000 | 501059 |
| &nbsp;&nbsp;&nbsp;Extra Space Storage | &nbsp;&nbsp;&nbsp;Extra Space Storage | &nbsp;&nbsp;&nbsp;Extra Space Storage |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.700%, 04/01/28<sup>‡</sup> | 250000 | 257959 |
| &nbsp;&nbsp;&nbsp;Host Hotels & Resorts | &nbsp;&nbsp;&nbsp;Host Hotels & Resorts | &nbsp;&nbsp;&nbsp;Host Hotels & Resorts |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.700%, 07/01/34<sup>‡</sup> | 1525000 | 1563139 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.700%, 06/15/32<sup>‡</sup> | 1019000 | 1054371 |
| &nbsp;&nbsp;&nbsp;Omega Healthcare Investors | &nbsp;&nbsp;&nbsp;Omega Healthcare Investors | &nbsp;&nbsp;&nbsp;Omega Healthcare Investors |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.200%, 07/01/30<sup>‡</sup> | 900000 | 913484 |
|  |  | 9214438 |

---

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS BOND FUND**

**OCTOBER 31, 2025**

---

| | | |
|:---|:---|:---|
| **CORPORATE OBLIGATIONS — continued** | **CORPORATE OBLIGATIONS — continued** | **CORPORATE OBLIGATIONS — continued** |
|  | **Face Amount** | **Value** |
| **UTILITIES — 3.7%** | **UTILITIES — 3.7%** | **UTILITIES — 3.7%** |
| &nbsp;&nbsp;&nbsp;Alabama Power | &nbsp;&nbsp;&nbsp;Alabama Power | &nbsp;&nbsp;&nbsp;Alabama Power |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.700%, 12/01/47 | $1845000 | $1436065 |
| &nbsp;&nbsp;&nbsp;Avangrid | &nbsp;&nbsp;&nbsp;Avangrid | &nbsp;&nbsp;&nbsp;Avangrid |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.800%, 06/01/29 | 2500000 | 2457664 |
| &nbsp;&nbsp;&nbsp;California Buyer | &nbsp;&nbsp;&nbsp;California Buyer | &nbsp;&nbsp;&nbsp;California Buyer |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.375%, 02/15/32(B) | 675000 | 682021 |
| &nbsp;&nbsp;&nbsp;CenterPoint Energy | &nbsp;&nbsp;&nbsp;CenterPoint Energy | &nbsp;&nbsp;&nbsp;CenterPoint Energy |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.700%, H15T5Y + 2.586%, 05/15/55(A) | 850000 | 878247 |
| &nbsp;&nbsp;&nbsp;CenterPoint Energy Houston Electric | &nbsp;&nbsp;&nbsp;CenterPoint Energy Houston Electric | &nbsp;&nbsp;&nbsp;CenterPoint Energy Houston Electric |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.350%, 04/01/51 | 2600000 | 1860585 |
| &nbsp;&nbsp;&nbsp;Consolidated Edison of New York | &nbsp;&nbsp;&nbsp;Consolidated Edison of New York | &nbsp;&nbsp;&nbsp;Consolidated Edison of New York |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.450%, 03/15/44 | 965000 | 853364 |
| &nbsp;&nbsp;&nbsp;Continental Wind | &nbsp;&nbsp;&nbsp;Continental Wind | &nbsp;&nbsp;&nbsp;Continental Wind |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 02/28/33(B) | 2147094 | 2201454 |
| &nbsp;&nbsp;&nbsp;Dominion Energy | &nbsp;&nbsp;&nbsp;Dominion Energy | &nbsp;&nbsp;&nbsp;Dominion Energy |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, H15T5Y + 2.262%, 02/15/56(A) | 891000 | 904865 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.600%, 05/15/28 | 865000 | 874026 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.250%, 08/15/31 | 4650000 | 4117061 |
| &nbsp;&nbsp;&nbsp;Dominion Energy South Carolina | &nbsp;&nbsp;&nbsp;Dominion Energy South Carolina | &nbsp;&nbsp;&nbsp;Dominion Energy South Carolina |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.250%, 10/15/53 | 1170000 | 1295104 |
| &nbsp;&nbsp;&nbsp;Duke Energy Florida | &nbsp;&nbsp;&nbsp;Duke Energy Florida | &nbsp;&nbsp;&nbsp;Duke Energy Florida |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.400%, 12/15/31 | 2000000 | 1798180 |
| &nbsp;&nbsp;&nbsp;Entergy Mississippi | &nbsp;&nbsp;&nbsp;Entergy Mississippi | &nbsp;&nbsp;&nbsp;Entergy Mississippi |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.800%, 04/15/55 | 2125000 | 2180756 |
| &nbsp;&nbsp;&nbsp;Essential Utilities | &nbsp;&nbsp;&nbsp;Essential Utilities | &nbsp;&nbsp;&nbsp;Essential Utilities |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.800%, 08/15/27 | 570000 | 576057 |
| &nbsp;&nbsp;&nbsp;Georgia Power | &nbsp;&nbsp;&nbsp;Georgia Power | &nbsp;&nbsp;&nbsp;Georgia Power |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.250%, 03/15/51 | 3368000 | 2358309 |
| &nbsp;&nbsp;&nbsp;National Rural Utilities Cooperative Finance |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.150%, 12/15/32 | 6720000 | 6570307 |
| &nbsp;&nbsp;&nbsp;New England Power | &nbsp;&nbsp;&nbsp;New England Power | &nbsp;&nbsp;&nbsp;New England Power |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.848%, 09/08/55(B) | 405000 | 414470 |
| &nbsp;&nbsp;&nbsp;New York State Electric & Gas |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.850%, 08/15/33(B) | 2500000 | 2656811 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.300%, 08/15/34(B) | 1000000 | 1024955 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.050%, 08/15/35(B) | 1400000 | 1408011 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.150%, 10/01/31(B) | 3240000 | 2828806 |
| &nbsp;&nbsp;&nbsp;NextEra Energy Capital Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.685%, 09/01/27 | 720000 | 727667 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.625%, 07/15/27 | 100000 | 100940 |
| &nbsp;&nbsp;&nbsp;Niagara Mohawk Power | &nbsp;&nbsp;&nbsp;Niagara Mohawk Power | &nbsp;&nbsp;&nbsp;Niagara Mohawk Power |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.783%, 09/16/52(B) | 836000 | 842475 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.960%, 06/27/30(B) | 3500000 | 3162728 |
| &nbsp;&nbsp;&nbsp;NRG Energy | &nbsp;&nbsp;&nbsp;NRG Energy | &nbsp;&nbsp;&nbsp;NRG Energy |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.000%, 03/15/33(B) | 3135000 | 3460429 |

---

---

| | | |
|:---|:---|:---|
| **CORPORATE OBLIGATIONS — continued** | **CORPORATE OBLIGATIONS — continued** | **CORPORATE OBLIGATIONS — continued** |
|  | **Face Amount** | **Value** |
| **UTILITIES — continued** |  |  |
| &nbsp;&nbsp;&nbsp;NSTAR Electric |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.850%, 03/01/30 | $370000 | $379238 |
| &nbsp;&nbsp;&nbsp;Oncor Electric Delivery |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.150%, 06/01/32 | 2500000 | 2448622 |
| &nbsp;&nbsp;&nbsp;Pacific Gas and Electric | &nbsp;&nbsp;&nbsp;Pacific Gas and Electric | &nbsp;&nbsp;&nbsp;Pacific Gas and Electric |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.700%, 04/01/53 | 5000000 | 5356613 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.150%, 03/01/55 | 895000 | 900412 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/04/28 | 315000 | 319438 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.950%, 07/01/50 | 2315000 | 1992618 |
| &nbsp;&nbsp;&nbsp;PECO Energy | &nbsp;&nbsp;&nbsp;PECO Energy | &nbsp;&nbsp;&nbsp;PECO Energy |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.150%, 10/01/44 | 1015000 | 866259 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 09/15/49 | 1810000 | 1225385 |
| &nbsp;&nbsp;&nbsp;PG&E Recovery Funding | &nbsp;&nbsp;&nbsp;PG&E Recovery Funding | &nbsp;&nbsp;&nbsp;PG&E Recovery Funding |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.529%, 06/01/49 | 2500000 | 2534415 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.231%, 06/01/42 | 1000000 | 1027617 |
| &nbsp;&nbsp;&nbsp;Public Service Electric and Gas MTN | &nbsp;&nbsp;&nbsp;Public Service Electric and Gas MTN | &nbsp;&nbsp;&nbsp;Public Service Electric and Gas MTN |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.125%, 03/15/53 | 1250000 | 1198864 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.650%, 03/15/33 | 2595000 | 2611237 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.100%, 03/15/32 | 4500000 | 4168044 |
| &nbsp;&nbsp;&nbsp;Public Service of New Hampshire | &nbsp;&nbsp;&nbsp;Public Service of New Hampshire | &nbsp;&nbsp;&nbsp;Public Service of New Hampshire |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.400%, 07/01/28 | 580000 | 585091 |
| &nbsp;&nbsp;&nbsp;San Diego Gas & Electric | &nbsp;&nbsp;&nbsp;San Diego Gas & Electric | &nbsp;&nbsp;&nbsp;San Diego Gas & Electric |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.950%, 08/15/28 | 1000000 | 1022727 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.950%, 08/15/51 | 2500000 | 1631087 |
| &nbsp;&nbsp;&nbsp;SCE Recovery Funding | &nbsp;&nbsp;&nbsp;SCE Recovery Funding | &nbsp;&nbsp;&nbsp;SCE Recovery Funding |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.112%, 12/15/47 | 300000 | 291624 |
| &nbsp;&nbsp;&nbsp;Sempra | &nbsp;&nbsp;&nbsp;Sempra | &nbsp;&nbsp;&nbsp;Sempra |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.550%, H15T5Y + 2.138%, 04/01/55(A) | 2055000 | 2104597 |
| &nbsp;&nbsp;&nbsp;Southern | &nbsp;&nbsp;&nbsp;Southern | &nbsp;&nbsp;&nbsp;Southern |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.750%, H15T5Y + 2.915%, 09/15/51(A) | 1450000 | 1430860 |
| &nbsp;&nbsp;&nbsp;Southern California Edison | &nbsp;&nbsp;&nbsp;Southern California Edison | &nbsp;&nbsp;&nbsp;Southern California Edison |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.650%, 06/01/51 | 3000000 | 2091832 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.450%, 02/01/52 | 2530000 | 1698260 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.750%, 02/01/32 | 2500000 | 2210084 |
| &nbsp;&nbsp;&nbsp;Union Electric | &nbsp;&nbsp;&nbsp;Union Electric | &nbsp;&nbsp;&nbsp;Union Electric |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.900%, 04/01/52 | 2195000 | 1723809 |
| &nbsp;&nbsp;&nbsp;Virginia Electric and Power | &nbsp;&nbsp;&nbsp;Virginia Electric and Power | &nbsp;&nbsp;&nbsp;Virginia Electric and Power |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.600%, 09/15/55 | 1095000 | 1095839 |
| &nbsp;&nbsp;&nbsp;WBI Operating | &nbsp;&nbsp;&nbsp;WBI Operating | &nbsp;&nbsp;&nbsp;WBI Operating |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.250%, 10/15/30(B) | 855000 | 855000 |
| &nbsp;&nbsp;&nbsp;Wisconsin Power and Light | &nbsp;&nbsp;&nbsp;Wisconsin Power and Light | &nbsp;&nbsp;&nbsp;Wisconsin Power and Light |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.950%, 09/01/32 | 2500000 | 2403865 |

---

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS BOND FUND**

**OCTOBER 31, 2025**

---

| | | |
|:---|:---|:---|
| **CORPORATE OBLIGATIONS — continued** | **CORPORATE OBLIGATIONS — continued** | **CORPORATE OBLIGATIONS — continued** |
|  | **Face Amount** | **Value** |
| **UTILITIES — continued** | **UTILITIES — continued** | **UTILITIES — continued** |
| &nbsp;&nbsp;&nbsp;XPLR Infrastructure Operating Partners | &nbsp;&nbsp;&nbsp;XPLR Infrastructure Operating Partners | &nbsp;&nbsp;&nbsp;XPLR Infrastructure Operating Partners |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.375%, 01/15/31(B)(C) | $1080000 | $1129951 |
|  |  | 92974745 |
| &nbsp;&nbsp;&nbsp;Total Corporate Obligations | &nbsp;&nbsp;&nbsp;Total Corporate Obligations | &nbsp;&nbsp;&nbsp;Total Corporate Obligations |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $686,776,040) |  | 681606792 |
| **MORTGAGE-BACKED SECURITIES — 24.4%** | **MORTGAGE-BACKED SECURITIES — 24.4%** | **MORTGAGE-BACKED SECURITIES — 24.4%** |
| **Agency Mortgage-Backed Obligations — 18.8%** | **Agency Mortgage-Backed Obligations — 18.8%** | **Agency Mortgage-Backed Obligations — 18.8%** |
| &nbsp;&nbsp;&nbsp;FHLMC | &nbsp;&nbsp;&nbsp;FHLMC | &nbsp;&nbsp;&nbsp;FHLMC |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.035%, RFUCCT1Y + 2.035%, 09/01/37 (A) | $1541 | $1574 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.000%, 02/01/54 | 1197200 | 1254309 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.000%, 11/01/32 | 117716 | 123090 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.000%, 10/01/32 | 4026 | 4212 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.000%, 09/01/32 | 7524 | 7867 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.000%, 07/01/32 | 1664 | 1739 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.000%, 06/01/32 | 30505 | 32054 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.701%, RFUCCT1Y + 1.959%, 04/01/40 (A) | 979 | 1004 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.684%, RFUCCT1Y + 1.876%, 01/01/42 (A) | 23480 | 24399 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.673%, RFUCCT1Y + 1.702%, 04/01/38 (A) | 57490 | 59483 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.630%, RFUCCT1Y + 1.630%, 05/01/44 (A) | 688 | 706 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.619%, RFUCCT1Y + 1.630%, 02/01/45 (A) | 95267 | 98411 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.619%, RFUCCT1Y + 1.785%, 10/01/41 (A) | 3894 | 4028 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.615%, RFUCCT1Y + 1.765%, 11/01/39 (A) | 43127 | 44465 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.599%, RFUCCT1Y + 1.724%, 04/01/36 (A) | 4798 | 4898 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.563%, RFUCCT1Y + 1.630%, 02/01/45 (A) | 8138 | 8405 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.557%, RFUCCT1Y + 1.788%, 08/01/42 (A) | 2101 | 2183 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.518%, RFUCCT1Y + 1.655%, 08/01/44 (A) | 198153 | 204717 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.500%, 01/01/38 | 557 | 591 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.500%, 11/01/37 | 1038 | 1067 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.500%, 09/01/37 | 10343 | 10641 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.500%, 08/01/37 | 1864 | 1952 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.500%, 12/01/32 | 42707 | 44740 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.500%, 12/01/31 | 1055 | 1092 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.462%, RFUCCT1Y + 1.630%, 02/01/45 (A) | 41228 | 42471 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.449%, RFUCCT1Y + 1.630%, 12/01/44 (A) | 27040 | 27792 |

---

---

| | | |
|:---|:---|:---|
| **MORTGAGE-BACKED SECURITIES — continued** | **MORTGAGE-BACKED SECURITIES — continued** | **MORTGAGE-BACKED SECURITIES — continued** |
|  | **Face Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.447%, RFUCCT1Y + 1.616%, 11/01/44 (A) | $20107 | $20727 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.445%, RFUCCT1Y + 1.619%, 05/01/46 (A) | 11394 | 11739 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.442%, RFUCCT1Y + 1.630%, 01/01/45 (A) | 10722 | 11058 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.420%, RFUCCT1Y + 1.625%, 12/01/45 (A) | 99410 | 102355 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.418%, RFUCCT1Y + 1.612%, 01/01/44 (A) | 17741 | 18253 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.394%, RFUCCT1Y + 1.607%, 11/01/44 (A) | 200108 | 206910 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.384%, RFUCCT1Y + 1.650%, 04/01/43 (A) | 26603 | 27316 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.368%, RFUCCT1Y + 1.630%, 01/01/45 (A) | 73062 | 74931 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.332%, RFUCCT1Y + 1.609%, 10/01/44 (A) | 26424 | 27240 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.255%, RFUCCT1Y + 1.630%, 07/01/44 (A) | 16239 | 16624 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 07/01/55 | 1428595 | 1460712 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 08/01/54 | 4005881 | 4098528 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 05/01/39 | 26202 | 27663 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 04/01/39 | 13598 | 14201 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 02/01/39 | 10344 | 10918 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 09/01/38 | 7472 | 7868 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 06/01/38 | 2752 | 2785 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 11/01/36 | 18123 | 19129 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 12/01/33 | 6639 | 6896 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 06/01/55 | 1231324 | 1244568 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 12/01/54 | 3959464 | 4006917 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 06/01/54 | 1467266 | 1504228 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 06/01/53 | 1546005 | 1578755 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 06/01/37 | 304 | 304 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 01/01/35 | 51844 | 53882 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 03/01/54 | 9158133 | 9168084 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 06/01/53 | 4291555 | 4289171 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 04/01/34 | 3744 | 3799 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 09/01/53 | 3537366 | 3470818 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 09/01/48 | 539557 | 535774 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 03/01/47 | 370692 | 369512 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 03/01/46 | 63828 | 63720 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 11/01/45 | 133516 | 133523 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 02/01/45 | 484557 | 480192 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 10/01/44 | 19373 | 19367 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 08/01/44 | 333857 | 334116 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 07/01/44 | 94577 | 94651 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 03/01/44 | 8404 | 8404 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 01/01/44 | 78166 | 78291 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 12/01/43 | 68413 | 68444 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 11/01/43 | 7506 | 7555 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 05/01/42 | 33124 | 32776 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 09/01/41 | 107412 | 108125 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 07/01/41 | 14679 | 14781 |

---

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS BOND FUND**

**OCTOBER 31, 2025**

---

| | | |
|:---|:---|:---|
| **MORTGAGE-BACKED SECURITIES — continued** | **MORTGAGE-BACKED SECURITIES — continued** | **MORTGAGE-BACKED SECURITIES — continued** |
|  | **Face Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 05/01/41 | $30268 | $30475 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 04/01/40 | 41844 | 42237 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 12/01/33 | 12190 | 12296 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 06/01/31 | 10056 | 10122 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 06/01/26 | 20 | 20 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 02/01/26 | 182 | 182 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.250%, 09/01/42 | 835504 | 804582 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.182%, SOFR30A + 2.279%, 09/01/52 (A) | 752648 | 747155 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 01/01/52 | 869239 | 829038 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 05/01/46 | 569561 | 551833 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 07/01/34 | 42018 | 41719 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 10/01/31 | 22758 | 22655 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.500%, 07/01/52 | 7939939 | 7361521 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.500%, 04/01/52 | 9763357 | 9033098 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.500%, 02/01/52 | 434567 | 402513 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.500%, 01/01/52 | 2498884 | 2317982 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.500%, 04/01/51 | 2324550 | 2156145 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.500%, 04/01/37 | 293218 | 286347 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 06/01/52 | 5329563 | 4736226 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 03/01/52 | 1135582 | 1021715 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 11/01/50 | 1502374 | 1343573 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 02/01/50 | 6156832 | 5533505 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.500%, 01/01/54 | 8764645 | 7455616 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.500%, 05/01/52 | 2302267 | 1993742 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.500%, 07/01/50 | 4148849 | 3586760 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.500%, 01/01/36 | 740554 | 701709 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.000%, 06/01/52 | 4268296 | 3480176 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.000%, 04/01/52 | 1627859 | 1324113 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.000%, 03/01/52 | 4097299 | 3367894 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.000%, 01/01/52 | 1251343 | 1028576 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.000%, 04/01/51 | 3089054 | 2524363 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.000%, 12/01/50 | 3161007 | 2602939 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.000%, 11/01/50 | 1152381 | 949790 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.000%, 09/01/50 | 10861445 | 8899697 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.000%, 07/01/50 | 4667378 | 3845121 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.000%, 02/01/42 | 1474448 | 1278927 |
| &nbsp;&nbsp;&nbsp;FHLMC Multiclass Certificates, Ser 2024-P016, Cl A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.606%, 09/25/33 (A) | 2500000 | 2527087 |
| &nbsp;&nbsp;&nbsp;FHLMC Multifamily ML Certificates | &nbsp;&nbsp;&nbsp;FHLMC Multifamily ML Certificates | &nbsp;&nbsp;&nbsp;FHLMC Multifamily ML Certificates |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.219%, 07/25/41 (A)(B) | 9679093 | 865901 |
| &nbsp;&nbsp;&nbsp;FHLMC Multifamily ML Certificates, Ser ML08, Cl AUS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.877%, 07/25/37 | 1590623 | 1300628 |
| &nbsp;&nbsp;&nbsp;FHLMC Multifamily Variable Rate Certificate, Ser M069, Cl A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.013%, 04/15/37 | 1195000 | 1171704 |
| &nbsp;&nbsp;&nbsp;FHLMC Multifamily Variable Rate Certificate, Ser ML-14 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.050%, 08/25/38 | 678135 | 649319 |

---

---

| | | |
|:---|:---|:---|
| **MORTGAGE-BACKED SECURITIES — continued** | **MORTGAGE-BACKED SECURITIES — continued** | **MORTGAGE-BACKED SECURITIES — continued** |
|  | **Face Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;FHLMC Structured Pass-Through Certificates, Ser 2002-41, Cl 2A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.633%, 07/25/32 (A) | $15866 | $14916 |
| &nbsp;&nbsp;&nbsp;FHLMC Structured Pass-Through Certificates, Ser 2002-48, Cl 1A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.336%, 07/25/33 (A) | 143859 | 139121 |
| &nbsp;&nbsp;&nbsp;FHLMC Structured Pass-Through Certificates, Ser 2002-51, Cl 1A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.500%, 09/25/43 (A) | 103390 | 107799 |
| &nbsp;&nbsp;&nbsp;FHLMC Structured Pass-Through Certificates, Ser 2002-51, Cl 2A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.500%, 08/25/42 (A) | 38236 | 38695 |
| &nbsp;&nbsp;&nbsp;FHLMC Structured Pass-Through Certificates, Ser 2003-54, Cl 3A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.000%, 02/25/43 | 298527 | 311980 |
| &nbsp;&nbsp;&nbsp;FHLMC Structured Pass-Through Certificates, Ser 2003-57, Cl 1A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.000%, 07/25/43 | 16629 | 17614 |
| &nbsp;&nbsp;&nbsp;FHLMC, Ser 1998-2084, Cl ZC | &nbsp;&nbsp;&nbsp;FHLMC, Ser 1998-2084, Cl ZC | &nbsp;&nbsp;&nbsp;FHLMC, Ser 1998-2084, Cl ZC |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.500%, 08/15/28 | 12522 | 12745 |
| &nbsp;&nbsp;&nbsp;FHLMC, Ser 2001-2295, Cl BD | &nbsp;&nbsp;&nbsp;FHLMC, Ser 2001-2295, Cl BD | &nbsp;&nbsp;&nbsp;FHLMC, Ser 2001-2295, Cl BD |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 03/15/31 | 5553 | 5702 |
| &nbsp;&nbsp;&nbsp;FHLMC, Ser 2003-2676, Cl PZ | &nbsp;&nbsp;&nbsp;FHLMC, Ser 2003-2676, Cl PZ | &nbsp;&nbsp;&nbsp;FHLMC, Ser 2003-2676, Cl PZ |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 09/15/33 | 25399 | 26370 |
| &nbsp;&nbsp;&nbsp;FHLMC, Ser 2005-2944, Cl OH | &nbsp;&nbsp;&nbsp;FHLMC, Ser 2005-2944, Cl OH | &nbsp;&nbsp;&nbsp;FHLMC, Ser 2005-2944, Cl OH |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 03/15/35 | 112148 | 117064 |
| &nbsp;&nbsp;&nbsp;FHLMC, Ser 2005-2957, Cl VZ | &nbsp;&nbsp;&nbsp;FHLMC, Ser 2005-2957, Cl VZ | &nbsp;&nbsp;&nbsp;FHLMC, Ser 2005-2957, Cl VZ |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 02/15/35 | 28182 | 28708 |
| &nbsp;&nbsp;&nbsp;FHLMC, Ser 2006-3143, Cl BC | &nbsp;&nbsp;&nbsp;FHLMC, Ser 2006-3143, Cl BC | &nbsp;&nbsp;&nbsp;FHLMC, Ser 2006-3143, Cl BC |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 02/15/36 | 84453 | 87442 |
| &nbsp;&nbsp;&nbsp;FHLMC, Ser 2006-3185, Cl GT | &nbsp;&nbsp;&nbsp;FHLMC, Ser 2006-3185, Cl GT | &nbsp;&nbsp;&nbsp;FHLMC, Ser 2006-3185, Cl GT |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 07/15/26 | 3229 | 3233 |
| &nbsp;&nbsp;&nbsp;FHLMC, Ser 2007-3330, Cl GZ | &nbsp;&nbsp;&nbsp;FHLMC, Ser 2007-3330, Cl GZ | &nbsp;&nbsp;&nbsp;FHLMC, Ser 2007-3330, Cl GZ |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 06/15/37 | 2272 | 2358 |
| &nbsp;&nbsp;&nbsp;FHLMC, Ser 2013-299, Cl F1 | &nbsp;&nbsp;&nbsp;FHLMC, Ser 2013-299, Cl F1 | &nbsp;&nbsp;&nbsp;FHLMC, Ser 2013-299, Cl F1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.848%, SOFR30A + 0.614%, 01/15/43 (A) | 116390 | 115293 |
| &nbsp;&nbsp;&nbsp;FHLMC, Ser 2013-4283, Cl EW | &nbsp;&nbsp;&nbsp;FHLMC, Ser 2013-4283, Cl EW | &nbsp;&nbsp;&nbsp;FHLMC, Ser 2013-4283, Cl EW |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 12/15/43 (A) | 89506 | 90136 |
| &nbsp;&nbsp;&nbsp;FHLMC, Ser 2014-4319, Cl MA | &nbsp;&nbsp;&nbsp;FHLMC, Ser 2014-4319, Cl MA | &nbsp;&nbsp;&nbsp;FHLMC, Ser 2014-4319, Cl MA |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 03/15/44 (A) | 163997 | 165028 |
| &nbsp;&nbsp;&nbsp;FHLMC, Ser 2015-4440, Cl ZD | &nbsp;&nbsp;&nbsp;FHLMC, Ser 2015-4440, Cl ZD | &nbsp;&nbsp;&nbsp;FHLMC, Ser 2015-4440, Cl ZD |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.500%, 02/15/45 | 3071195 | 2759744 |
| &nbsp;&nbsp;&nbsp;FNMA | &nbsp;&nbsp;&nbsp;FNMA | &nbsp;&nbsp;&nbsp;FNMA |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.000%, 12/01/37 | 163 | 173 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.000%, 08/01/32 | 75380 | 78743 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.000%, 11/01/29 | 18336 | 19154 |

---

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS BOND FUND**

**OCTOBER 31, 2025**

---

| | | |
|:---|:---|:---|
| **MORTGAGE-BACKED SECURITIES — continued** | **MORTGAGE-BACKED SECURITIES — continued** | **MORTGAGE-BACKED SECURITIES — continued** |
|  | **Face Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.685%, RFUCCT1Y + 1.790%, 06/01/38 (A) | $3005 | $3117 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.675%, RFUCCT1Y + 1.782%, 12/01/39 (A) | 6145 | 6299 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.583%, RFUCCT1Y + 1.583%, 02/01/44 (A) | 12931 | 13375 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.580%, RFUCCT1Y + 1.580%, 04/01/44 (A) | 78225 | 80854 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.550%, RFUCCT1Y + 1.815%, 07/01/41 (A) | 27599 | 28536 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.542%, RFUCCT1Y + 1.566%, 05/01/44 (A) | 36571 | 37765 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.509%, RFUCCT1Y + 1.578%, 10/01/44 (A) | 96692 | 99824 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.507%, RFUCCT1Y + 1.551%, 02/01/44 (A) | 6601 | 6818 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.500%, 01/01/54 | 1116936 | 1156160 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.500%, 01/01/49 | 4883 | 5093 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.500%, 10/01/39 | 27723 | 29295 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.500%, 08/01/39 | 12213 | 12956 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.500%, 10/01/38 | 9349 | 9917 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.500%, 03/01/38 | 2685 | 2796 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.500%, 02/01/38 | 2680 | 2847 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.500%, 12/01/37 | 10586 | 11229 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.500%, 11/01/37 | 709 | 751 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.500%, 03/01/35 | 111425 | 116582 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.500%, 05/01/33 | 1385 | 1434 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.500%, 12/01/32 | 5240 | 5494 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.500%, 08/01/32 | 12793 | 13238 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.497%, RFUCCT1Y + 1.568%, 05/01/45 (A) | 157372 | 162278 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.490%, RFUCCT1Y + 1.698%, 04/01/44 (A) | 53802 | 55918 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.465%, RFUCCT1Y + 1.688%, 11/01/36 (A) | 4359 | 4428 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.456%, RFUCCT1Y + 1.590%, 12/01/44 (A) | 73425 | 75695 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.421%, RFUCCT1Y + 1.580%, 09/01/47 (A) | 91393 | 94263 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.402%, RFUCCT1Y + 1.580%, 11/01/44 (A) | 9090 | 9381 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.397%, RFUCCT1Y + 1.561%, 06/01/44 (A) | 33875 | 34967 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.394%, RFUCCT1Y + 1.554%, 01/01/45 (A) | 15716 | 16212 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.360%, RFUCCT1Y + 1.610%, 10/01/47 (A) | 27344 | 28029 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.358%, RFUCCT1Y + 1.601%, 10/01/48 (A) | 78615 | 81064 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.353%, RFUCCT1Y + 1.685%, 06/01/42 (A) | 5295 | 5434 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.348%, H15T1Y + 2.299%, 08/01/34 (A) | 5993 | 6141 |

---

---

| | | |
|:---|:---|:---|
| **MORTGAGE-BACKED SECURITIES — continued** | **MORTGAGE-BACKED SECURITIES — continued** | **MORTGAGE-BACKED SECURITIES — continued** |
|  | **Face Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.339%, RFUCCT1Y + 1.460%, 05/01/35 (A) | $16058 | $16540 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.330%, RFUCCT1Y + 1.580%, 09/01/44 (A) | 985 | 1016 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.303%, RFUCCT1Y + 1.590%, 07/01/44 (A) | 70115 | 72431 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.294%, RFUCCT1Y + 1.567%, 08/01/43 (A) | 2209 | 2274 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.225%, RFUCCT1Y + 1.600%, 12/01/44 (A) | 16395 | 16897 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.197%, RFUCCT1Y + 1.470%, 06/01/35 (A) | 1991 | 2033 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.185%, RFUCCT1Y + 1.564%, 01/01/44 (A) | 5824 | 5893 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.124%, H15T1Y + 1.999%, 09/01/34 (A) | 337 | 345 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 07/01/39 | 42310 | 44475 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 05/01/38 | 22965 | 24219 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 08/01/37 | 52084 | 54056 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 07/01/37 | 15883 | 16699 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 03/01/37 | 7090 | 7477 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 09/01/36 | 36321 | 37553 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 03/01/36 | 4216 | 4351 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 11/01/35 | 7428 | 7716 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 07/01/35 | 3104 | 3229 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 04/01/35 | 31879 | 33244 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 04/01/34 | 7789 | 8072 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 03/01/34 | 110929 | 115204 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 12/01/33 | 1980 | 2053 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 11/01/33 | 2130 | 2188 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 12/01/32 | 2432 | 2516 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 09/01/53 | 1774377 | 1809175 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 02/01/38 | 1999 | 2020 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 04/01/37 | 73370 | 75107 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 09/01/36 | 6246 | 6401 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 10/01/35 | 33702 | 34933 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 04/01/35 | 95322 | 98658 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 11/01/33 | 3840 | 3931 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 06/01/33 | 20952 | 21681 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 11/01/29 | 2290 | 2324 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.136%, RFUCCT1Y + 1.653%, 05/01/46 (A) | 19899 | 20422 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/01/54 | 1919762 | 1928484 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 03/01/49 | 149398 | 150997 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/01/48 | 123227 | 124966 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 08/01/40 | 10126 | 10404 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/01/39 | 28482 | 28841 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 03/01/52 | 280038 | 273690 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 06/01/48 | 226130 | 224315 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 07/01/47 | 68551 | 68710 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 02/01/46 | 464047 | 466480 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 09/01/45 | 37800 | 37722 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 02/01/45 | 160267 | 160268 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 10/01/44 | 19761 | 19704 |

---

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS BOND FUND**

**OCTOBER 31, 2025**

---

| | | |
|:---|:---|:---|
| **MORTGAGE-BACKED SECURITIES — continued** | **MORTGAGE-BACKED SECURITIES — continued** | **MORTGAGE-BACKED SECURITIES — continued** |
|  | **Face Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 09/01/43 | $5808 | $5808 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 01/01/43 | 400178 | 401118 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 07/01/42 | 150849 | 151641 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 01/01/42 | 43708 | 44067 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 12/01/41 | 22384 | 22458 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 11/01/41 | 19860 | 19946 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 09/01/41 | 10182 | 10164 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 08/01/41 | 11424 | 11461 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 05/01/41 | 750502 | 753568 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 06/01/36 | 16376 | 16510 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 09/01/31 | 23910 | 24037 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 06/01/31 | 6858 | 6893 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 01/01/31 | 56548 | 56621 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 08/01/26 | 3034 | 3030 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 01/01/57 | 5144873 | 4892142 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 10/01/52 | 2214424 | 2111401 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 08/01/52 | 1057110 | 1007646 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 04/01/52 | 1370987 | 1314103 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 10/01/51 | 1250747 | 1195039 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 04/01/48 | 1344686 | 1302407 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 03/01/46 | 2916173 | 2827788 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 01/01/37 | 254189 | 251773 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 11/01/35 | 43775 | 43392 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 01/01/35 | 739116 | 733500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 10/01/34 | 319377 | 317224 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 06/01/34 | 410142 | 406441 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 03/01/34 | 162198 | 160937 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 11/01/33 | 264931 | 263019 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 10/01/33 | 33213 | 32809 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 10/01/32 | 28000 | 27803 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 09/01/31 | 80005 | 79566 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 12/01/30 | 114489 | 113911 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 11/01/30 | 84010 | 83583 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.709%, SOFR30A + 2.238%, 10/01/52 (A) | 2860601 | 2812782 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.644%, RFUCCT1Y + 1.620%, 11/01/48 (A) | 184766 | 190445 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.500%, 05/01/52 | 3630463 | 3355219 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.500%, 04/01/52 | 6183424 | 5751669 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.500%, 03/01/52 | 1563229 | 1446456 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.500%, 01/01/52 | 1751262 | 1625035 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.500%, 11/01/51 | 1047818 | 973125 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.500%, 04/01/37 | 258400 | 250281 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.500%, 02/01/31 | 260681 | 258147 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.500%, 12/01/29 | 86330 | 85515 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 05/01/52 | 848915 | 762105 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 04/01/52 | 2691730 | 2420494 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 03/01/52 | 1349568 | 1211187 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 01/01/52 | 2528120 | 2242567 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 11/01/51 | 1851248 | 1658263 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 08/01/50 | 1473265 | 1342749 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 07/01/50 | 917529 | 826510 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 04/01/50 | 1385708 | 1248690 |

---

---

| | | |
|:---|:---|:---|
| **MORTGAGE-BACKED SECURITIES — continued** | **MORTGAGE-BACKED SECURITIES — continued** | **MORTGAGE-BACKED SECURITIES — continued** |
|  | **Face Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.500%, 04/01/52 | $4140533 | $3560128 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.500%, 03/01/52 | 1466080 | 1266786 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.500%, 02/01/52 | 5109999 | 4384000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.500%, 01/01/52 | 4001210 | 3404020 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.500%, 10/01/51 | 1952812 | 1658762 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.500%, 08/01/51 | 2732851 | 2368150 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.500%, 07/01/51 | 2401558 | 2050345 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.500%, 02/01/51 | 1598281 | 1378643 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.500%, 01/01/51 | 1029984 | 887457 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.500%, 11/01/50 | 5021158 | 4354779 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.500%, 10/01/50 | 6662006 | 5765831 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.500%, 07/01/50 | 8084940 | 6973375 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.500%, 03/01/43 | 1562845 | 1404751 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.500%, 06/01/42 | 2533526 | 2275679 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.500%, 10/01/41 | 1137362 | 1027682 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.500%, 05/01/41 | 752416 | 682195 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.000%, 12/01/51 | 1470222 | 1198588 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.000%, 11/01/51 | 5989959 | 4896112 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.000%, 10/01/51 | 2889298 | 2386230 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.000%, 09/01/51 | 1399770 | 1154041 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.000%, 08/01/51 | 1570446 | 1283469 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.000%, 02/01/51 | 1035970 | 851860 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.000%, 01/01/51 | 2711653 | 2234585 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.000%, 12/01/50 | 441241 | 363608 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.000%, 10/01/50 | 1514448 | 1242481 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.000%, 08/01/50 | 638261 | 524738 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.000%, 09/01/36 | 993891 | 920246 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.500%, 10/01/50 | 1615496 | 1249163 |
| &nbsp;&nbsp;&nbsp;FNMA Grantor Trust, Ser 2000-T6, Cl A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.500%, 11/25/40 | 10767 | 10848 |
| &nbsp;&nbsp;&nbsp;FNMA Grantor Trust, Ser 2001-T1, Cl A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.500%, 10/25/40 | 92142 | 92682 |
| &nbsp;&nbsp;&nbsp;FNMA Grantor Trust, Ser 2001-T10, Cl A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.000%, 12/25/41 | 57448 | 58711 |
| &nbsp;&nbsp;&nbsp;FNMA Grantor Trust, Ser 2001-T12, Cl A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.500%, 08/25/41 | 1996 | 2016 |
| &nbsp;&nbsp;&nbsp;FNMA Grantor Trust, Ser 2001-T3, Cl A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.500%, 11/25/40 | 5627 | 5775 |
| &nbsp;&nbsp;&nbsp;FNMA Grantor Trust, Ser 2001-T4, Cl A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.500%, 07/25/41 | 28055 | 28781 |
| &nbsp;&nbsp;&nbsp;FNMA Grantor Trust, Ser 2001-T7, Cl A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.500%, 02/25/41 | 1313 | 1368 |
| &nbsp;&nbsp;&nbsp;FNMA Grantor Trust, Ser 2001-T8, Cl A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.500%, 07/25/41 | 3372 | 3439 |

---

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS BOND FUND**

**OCTOBER 31, 2025**

**MORTGAGE-BACKED SECURITIES — continued** 

---

| | | |
|:---|:---|:---|
|  | **Face Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;FNMA Grantor Trust, Ser 2004-T1, Cl 1A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.500%, 01/25/44 | $812 | $835 |
| &nbsp;&nbsp;&nbsp;FNMA REMIC Trust, Ser 2001-W3, Cl A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.000%, 09/25/41 (A) | 49211 | 49302 |
| &nbsp;&nbsp;&nbsp;FNMA REMIC Trust, Ser 2002-W6, Cl 2A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.500%, 06/25/42 (A) | 3833 | 3850 |
| &nbsp;&nbsp;&nbsp;FNMA REMIC Trust, Ser 2002-W6, Cl 2A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.000%, 06/25/42 (A) | 3833 | 3827 |
| &nbsp;&nbsp;&nbsp;FNMA REMIC Trust, Ser 2003-W4, Cl 3A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.502%, 10/25/42 (A) | 45084 | 48360 |
| &nbsp;&nbsp;&nbsp;FNMA REMIC Trust, Ser 2003-W4, Cl 4A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.092%, 10/25/42 (A) | 16923 | 17325 |
| &nbsp;&nbsp;&nbsp;FNMA Trust, Ser 2003-W2, Cl 1A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.500%, 07/25/42 | 5443 | 5713 |
| &nbsp;&nbsp;&nbsp;FNMA Trust, Ser 2004-W2, Cl 2A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.000%, 02/25/44 | 7367 | 7632 |
| &nbsp;&nbsp;&nbsp;FNMA Trust, Ser 2004-W2, Cl 5A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.500%, 03/25/44 | 2398 | 2484 |
| &nbsp;&nbsp;&nbsp;FNMA, Ser 2001-2, Cl ZK |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.500%, 02/25/31 | 17288 | 17792 |
| &nbsp;&nbsp;&nbsp;FNMA, Ser 2001-79, Cl BA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.000%, 03/25/45 | 6327 | 6514 |
| &nbsp;&nbsp;&nbsp;FNMA, Ser 2002-33, Cl A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.000%, 06/25/32 | 46590 | 47250 |
| &nbsp;&nbsp;&nbsp;FNMA, Ser 2007-104, Cl ZE |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 08/25/37 | 11230 | 11698 |
| &nbsp;&nbsp;&nbsp;FNMA, Ser 2007-21, Cl MT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.750%, 03/25/37 | 2622 | 2695 |
| &nbsp;&nbsp;&nbsp;FNMA, Ser 2009-11, Cl MP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.000%, 03/25/49 | 4276 | 4643 |
| &nbsp;&nbsp;&nbsp;FNMA, Ser 2010-136, Cl BA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.500%, 12/25/30 | 96926 | 95519 |
| &nbsp;&nbsp;&nbsp;FNMA, Ser 2010-49, Cl ZJ |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 05/25/40 | 32955 | 32998 |
| &nbsp;&nbsp;&nbsp;FNMA, Ser 2012-132, Cl IK, IO |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 12/25/32 | 1271858 | 84942 |
| &nbsp;&nbsp;&nbsp;FNMA, Ser 2013-128, Cl CF |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.897%, SOFR30A + 0.714%, 12/25/43 (A) | 200469 | 199279 |
| &nbsp;&nbsp;&nbsp;FNMA, Ser 2014-1, Cl KF |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.897%, SOFR30A + 0.714%, 02/25/44 (A) | 284963 | 282762 |
| &nbsp;&nbsp;&nbsp;FNMA, Ser 2020-61, Cl NI, IO |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.500%, 09/25/50 | 2673675 | 424687 |

---

**MORTGAGE-BACKED SECURITIES — continued**

---

| | | |
|:---|:---|:---|
|  | **Face Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;FNMA, Ser M1G, Cl A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.468%, 11/25/30 (A) | $1925000 | $1693429 |
| &nbsp;&nbsp;&nbsp;FNMA, Ser M3G, Cl A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.245%, 01/25/31 (A) | 2000000 | 1740717 |
| &nbsp;&nbsp;&nbsp;GNMA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.000%, 12/15/29 | 356 | 369 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.500%, 05/15/29 | 518 | 533 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 01/20/55 | 11430434 | 11638449 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 12/20/54 | 4384011 | 4466581 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 09/20/54 | 15191807 | 15489970 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 07/20/54 | 14336608 | 14627103 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 06/20/54 | 5832903 | 5952726 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 05/20/54 | 6383878 | 6516809 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 04/20/54 | 12334208 | 12597957 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 02/20/54 | 9834006 | 10052560 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 12/20/53 | 3403525 | 3481074 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 11/20/53 | 5774116 | 5918067 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 10/20/53 | 3963640 | 4055062 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 09/20/54 | 3713076 | 3749477 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 02/20/53 | 1541364 | 1564502 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 12/20/53 | 7991685 | 7973964 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 02/20/53 | 542632 | 543655 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/20/52 | 3520341 | 3529886 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 12/20/52 | 1915186 | 1881577 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 10/20/52 | 4103029 | 4032930 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 09/20/52 | 889483 | 874511 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 08/20/52 | 6390786 | 6284566 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 09/20/52 | 1796834 | 1712575 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 08/20/52 | 8659181 | 8266898 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 04/20/52 | 92905 | 88613 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 03/20/52 | 95777 | 91367 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 02/20/52 | 1349642 | 1287847 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 01/20/52 | 1027800 | 980849 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 12/20/48 | 1100236 | 1050552 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.500%, 08/20/52 | 11701730 | 10754300 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.500%, 07/20/52 | 1568306 | 1449628 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.500%, 04/20/52 | 3703594 | 3410740 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.500%, 03/20/52 | 1658662 | 1532894 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.500%, 02/20/52 | 1205021 | 1109300 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.500%, 01/20/52 | 1275459 | 1177762 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.500%, 06/20/51 | 1257420 | 1159335 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.500%, 01/20/50 | 768369 | 714597 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.500%, 10/20/49 | 2333693 | 2131940 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 03/20/52 | 326547 | 293551 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 01/20/52 | 2692743 | 2422818 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 12/20/51 | 4670979 | 4203310 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 10/20/51 | 1553997 | 1397608 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 07/20/51 | 2177571 | 1958754 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 05/20/51 | 1004447 | 903672 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.500%, 03/20/53 | 3382691 | 2941778 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.500%, 07/20/52 | 1241206 | 1076719 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.500%, 04/20/52 | 2159410 | 1871786 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.500%, 03/20/52 | 2735018 | 2363522 |

---

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS BOND FUND**

**OCTOBER 31, 2025**

**MORTGAGE-BACKED SECURITIES — continued**

---

| | | |
|:---|:---|:---|
|  | **Face Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.500%, 08/20/51 | $1331593 | $1153081 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.500%, 05/20/51 | 691339 | 598799 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.500%, 03/20/51 | 2422649 | 2098429 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.500%, 12/20/50 | 1346850 | 1145470 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.000%, 10/20/51 | 1490745 | 1240383 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.000%, 01/20/51 | 1901639 | 1582271 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.000%, 12/20/50 | 1382084 | 1138570 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.000%, 11/20/50 | 2970199 | 2472802 |
| &nbsp;&nbsp;&nbsp;GNMA, Ser 2012-98, Cl BM |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.874%, 08/20/42 (A) | 129809 | 132458 |
| &nbsp;&nbsp;&nbsp;GNMA, Ser 2015-142, Cl KI, IO |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 04/20/45 | 1736030 | 285587 |
| &nbsp;&nbsp;&nbsp;GNMA, Ser 2016-84, Cl IB, IO |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 11/16/45 | 1712783 | 331197 |
| &nbsp;&nbsp;&nbsp;GNMA, Ser 2017-H17, Cl FQ |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.047%, TSFR12M + 0.985%, 09/20/67 (A) | 782645 | 789336 |
| &nbsp;&nbsp;&nbsp;GNMA, Ser 2017-H22, Cl FH |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.753%, TSFR12M + 0.935%, 11/20/67 (A) | 512259 | 514763 |
| &nbsp;&nbsp;&nbsp;GNMA, Ser 2017-H24, Cl FQ |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.106%, TSFR12M + 0.915%, 11/20/67 (A) | 567143 | 570387 |
| &nbsp;&nbsp;&nbsp;GNMA, Ser 2018-H04, Cl FK |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.914%, TSFR12M + 0.755%, 03/20/68 (A) | 737664 | 739316 |
| &nbsp;&nbsp;&nbsp;GNMA, Ser 2018-H05, Cl CF |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.934%, TSFR12M + 0.775%, 03/20/68 (A) | 833410 | 835606 |
| &nbsp;&nbsp;&nbsp;GNMA, Ser 2018-H05, Cl FE |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.944%, TSFR12M + 0.785%, 02/20/68 (A) | 260065 | 261298 |
| &nbsp;&nbsp;&nbsp;GNMA, Ser 2019-20, Cl IC, IO |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 02/20/49 | 1562917 | 329153 |
| &nbsp;&nbsp;&nbsp;GNMA, Ser 2019-H09, Cl FG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.025%, TSFR12M + 1.065%, 05/20/69 (A) | 282859 | 285835 |
| &nbsp;&nbsp;&nbsp;GNMA, Ser 2019-H16, Cl CF |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.087%, TSFR1M + 0.814%, 10/20/69 (A) | 279559 | 279455 |
| &nbsp;&nbsp;&nbsp;GNMA, Ser 2020-H01, Cl FV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.037%, TSFR1M + 0.764%, 01/20/70 (A) | 3275979 | 3268767 |
| &nbsp;&nbsp;&nbsp;GNMA, Ser 2020-H02, Cl FB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.987%, TSFR1M + 0.714%, 01/20/70 (A) | 452477 | 450658 |
| &nbsp;&nbsp;&nbsp;GNMA, Ser 2022-H04, Cl FG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.734%, SOFR30A + 0.550%, 02/20/67 (A) | 889500 | 888113 |
| &nbsp;&nbsp;&nbsp;GNMA, Ser 2022-H08, Cl FE |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.139%, SOFR30A + 0.750%, 03/20/72 (A) | 1892248 | 1884925 |

---

**MORTGAGE-BACKED SECURITIES — continued**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Face Amount** | **Face Amount** | **Value** | **Value** |
| &nbsp;&nbsp;&nbsp;GNMA, Ser 2022-H09, Cl FA |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.854%, SOFR30A + 0.670%, 04/20/72 (A) | $| 1991838 | $| 1977330 |
| &nbsp;&nbsp;&nbsp;GNMA, Ser 2022-H11, Cl EF |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.154%, SOFR30A + 0.970%, 05/20/72 (A) |  | 2304965 |  | 2314531 |
| &nbsp;&nbsp;&nbsp;GNMA, Ser 2023-H04, Cl FC |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.034%, SOFR30A + 0.850%, 01/20/73 (A) |  | 1926850 |  | 1926113 |
| &nbsp;&nbsp;&nbsp;GNMA, Ser 2023-H13, Cl FJ |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.604%, SOFR30A + 1.420%, 02/20/73 (A) |  | 1181123 |  | 1204615 |
| &nbsp;&nbsp;&nbsp;GNMA, Ser 29, Cl AE |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.500%, 05/16/64 (A) |  | 2899477 |  | 2787378 |
|  |  |  |  | 464052714 |
| **Non-Agency Mortgage-Backed Obligations — 5.6%** | **Non-Agency Mortgage-Backed Obligations — 5.6%** | **Non-Agency Mortgage-Backed Obligations — 5.6%** | **Non-Agency Mortgage-Backed Obligations — 5.6%** | **Non-Agency Mortgage-Backed Obligations — 5.6%** |
| &nbsp;&nbsp;&nbsp;ALA Trust, Ser OANA, Cl A |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.776%, TSFR1M + 1.743%, 06/15/40 (A)(B) |  | 310000 |  | 311163 |
| &nbsp;&nbsp;&nbsp;Angel Oak Mortgage Trust, Ser 2025-7, Cl A1 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.509%, 06/25/70 (A)(B) |  | 3717732 |  | 3743518 |
| &nbsp;&nbsp;&nbsp;BANK5, Ser 5YR10, Cl D |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 10/15/57 (B) |  | 2100000 |  | 1847928 |
| &nbsp;&nbsp;&nbsp;BANK5, Ser 5YR12, Cl D |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 12/15/57 (B) |  | 1160000 |  | 1022931 |
| &nbsp;&nbsp;&nbsp;BANK5, Ser 5YR14, Cl C |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.463%, 04/15/58 (A) |  | 1551000 |  | 1592780 |
| &nbsp;&nbsp;&nbsp;Barclays Commercial Mortgage Trust, Ser 2019-C4, Cl C |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.469%, 08/15/52 |  | 1300000 |  | 1076542 |
| &nbsp;&nbsp;&nbsp;BBCMS Mortgage Trust, Ser 2018-TALL, Cl A |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.952%, TSFR1M + 0.919%, 03/15/37 (A)(B) |  | 1840000 |  | 1734200 |
| &nbsp;&nbsp;&nbsp;BBCMS Mortgage Trust, Ser 2023-C19, Cl C |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.383%, 04/15/56 (A) |  | 540000 |  | 520621 |
| &nbsp;&nbsp;&nbsp;BBCMS Mortgage Trust, Ser 5C27, Cl C |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.700%, 07/15/57 (A) |  | 1300000 |  | 1342500 |
| &nbsp;&nbsp;&nbsp;BBCMS Mortgage Trust, Ser C17, Cl C |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.450%, 09/15/55 (A) |  | 2200000 |  | 2114846 |
| &nbsp;&nbsp;&nbsp;BBCMS Mortgage Trust, Ser C32, Cl D |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 02/15/62 (B) |  | 2725000 |  | 2166557 |
| &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust, Ser 2019-B10, Cl E |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 03/15/62 (B) |  | 1260000 |  | 850048 |
| &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust, Ser 2022-B35, Cl D |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.500%, 05/15/55 (B) |  | 3265000 |  | 2193214 |

---

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS BOND FUND**

**OCTOBER 31, 2025**

**MORTGAGE-BACKED SECURITIES — continued**

---

| | | |
|:---|:---|:---|
|  | **Face Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust, Ser B10, Cl C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.750%, 03/15/62 | $1260000 | $1050534 |
| &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust, Ser V15, Cl C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.268%, 06/15/58 | 965000 | 984014 |
| &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust, Ser V7, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.228%, 05/15/56 (A) | 400000 | 421887 |
| &nbsp;&nbsp;&nbsp;BFLD Commercial Mortgage Trust, Ser 660F, Cl A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.465%, TSFR1M + 1.500%, 11/15/42 (A)(B) | 725000 | 725906 |
| &nbsp;&nbsp;&nbsp;BMO Mortgage Trust, Ser 2023-C7, Cl C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.123%, 12/15/56 (A) | 2250000 | 2384156 |
| &nbsp;&nbsp;&nbsp;BMO Mortgage Trust, Ser 5C4, Cl C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.018%, 05/15/57 (A) | 3100000 | 3202639 |
| &nbsp;&nbsp;&nbsp;BMO Mortgage Trust, Ser 5C5, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 02/15/57 (B) | 2000000 | 1781817 |
| &nbsp;&nbsp;&nbsp;BMO Mortgage Trust, Ser C12, Cl C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.393%, 06/15/58 (A) | 2320000 | 2397504 |
| &nbsp;&nbsp;&nbsp;BMO Mortgage Trust, Ser C9, Cl C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.380%, 07/15/57 (A) | 1400000 | 1444830 |
| &nbsp;&nbsp;&nbsp;BX Commercial Mortgage Trust, Ser 2022-AHP, Cl AS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.522%, TSFR1M + 1.490%, 01/17/39 (A)(B) | 2500000 | 2496094 |
| &nbsp;&nbsp;&nbsp;BX Trust, Ser 2022-CLS, Cl B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.300%, 10/13/27 (B) | 2100000 | 2114154 |
| &nbsp;&nbsp;&nbsp;BX Trust, Ser 2024-VLT4, Cl A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.524%, TSFR1M + 1.491%, 06/15/41 (A)(B) | 685000 | 684999 |
| &nbsp;&nbsp;&nbsp;BX Trust, Ser VLT7, Cl A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.732%, TSFR1M + 1.700%, 07/15/44 (A)(B) | 1540000 | 1545751 |
| &nbsp;&nbsp;&nbsp;Century Plaza Towers, Ser 2019-CPT, Cl A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.865%, 11/13/39 (B) | 675000 | 622594 |
| &nbsp;&nbsp;&nbsp;Century Plaza Towers, Ser 2019-CPT, Cl B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.997%, 11/13/39 (A)(B) | 733000 | 669494 |
| &nbsp;&nbsp;&nbsp;Century Plaza Towers, Ser 2019-CPT, Cl C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.997%, 11/13/39 (A)(B) | 500000 | 446690 |
| &nbsp;&nbsp;&nbsp;Century Plaza Towers, Ser 2019-CPT, Cl E |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.997%, 11/13/39 (A)(B) | 2000000 | 1654756 |

---

**MORTGAGE-BACKED SECURITIES — continued**

---

| | | |
|:---|:---|:---|
|  | **Face Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;COMM Mortgage Trust, Ser 2022-HC, Cl A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.819%, 01/10/39 (B) | $1390000 | $1334088 |
| &nbsp;&nbsp;&nbsp;COMM Mortgage Trust, Ser 2022-HC, Cl C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.376%, 01/10/39 (B) | 1570000 | 1482710 |
| &nbsp;&nbsp;&nbsp;COMM Mortgage Trust, Ser CBM, Cl A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.867%, 12/10/41 (A)(B) | 180000 | 183272 |
| &nbsp;&nbsp;&nbsp;CSAIL 2021-C20 Commercial Mortgage Trust, Ser C20, Cl AS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.076%, 03/15/54 (A) | 1180000 | 1048813 |
| &nbsp;&nbsp;&nbsp;CSMC OA, Ser 2014-USA, Cl A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.953%, 09/15/37 (B) | 1230000 | 1120069 |
| &nbsp;&nbsp;&nbsp;CSMC Trust, Ser 2021-NQM5, Cl M1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.168%, 05/25/66 (A)(B) | 1310000 | 862090 |
| &nbsp;&nbsp;&nbsp;DC Commercial Mortgage Trust, Ser DC, Cl A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.314%, 09/12/40 (B) | 820000 | 846439 |
| &nbsp;&nbsp;&nbsp;DLIC Re-REMIC Trust, Ser FRR1, Cl A111 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.253%, 04/25/53 (A)(B) | 1770000 | 1529746 |
| &nbsp;&nbsp;&nbsp;DLIC Re-REMIC Trust, Ser FRR1, Cl A120 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.609%, 09/25/53 (A)(B) | 1770000 | 1527501 |
| &nbsp;&nbsp;&nbsp;DLIC Re-REMIC Trust, Ser FRR1, Cl B104 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.882%, 12/25/52 (A)(B) | 1770000 | 1522361 |
| &nbsp;&nbsp;&nbsp;FASST, Ser 2022-S4, Cl A2A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 01/25/57 (B) | 2780455 | 2803380 |
| &nbsp;&nbsp;&nbsp;FREMF Mortgage Trust, Ser 2017-K69, Cl C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.726%, 10/25/49 (A)(B) | 2788000 | 2719160 |
| &nbsp;&nbsp;&nbsp;FREMF Mortgage Trust, Ser 2018-K83, Cl C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.281%, 11/25/51 (A)(B) | 2890000 | 2855545 |
| &nbsp;&nbsp;&nbsp;GS Mortgage Securities Trust, Ser 2013-PEMB, Cl A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.550%, 03/05/33 (A)(B) | 110000 | 88825 |
| &nbsp;&nbsp;&nbsp;Hudson Yards Mortgage Trust, Ser 2016-10HY, Cl A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.835%, 08/10/38 (B) | 1750000 | 1722303 |
| &nbsp;&nbsp;&nbsp;Hudson Yards Mortgage Trust, Ser 2019-55HY, Cl A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.943%, 12/10/41 (A)(B) | 1000000 | 937183 |
| &nbsp;&nbsp;&nbsp;INT Commercial Mortgage Trust, Ser PLAZA, Cl A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.879%, 11/05/37 (A)(B) | 800000 | 801254 |
| &nbsp;&nbsp;&nbsp;IRV Trust, Ser 200P, Cl C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.730%, 03/14/47 (A)(B) | 3625000 | 3665344 |

---

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS BOND FUND**

**OCTOBER 31, 2025**

**MORTGAGE-BACKED SECURITIES — continued**

---

| | | |
|:---|:---|:---|
|  | **Face Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;Jackson Park Trust, Ser 2019-LIC, Cl A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.766%, 10/14/39 (B) | $1000000 | $917447 |
| &nbsp;&nbsp;&nbsp;JP Morgan Chase Commercial Mortgage Securities Trust, Ser BMS, Cl A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.632%, TSFR1M + 1.600%, 01/15/42 (A)(B) | 840000 | 838950 |
| &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust, Ser 2015-C28, Cl C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.283%, 10/15/48 (A) | 879697 | 866537 |
| &nbsp;&nbsp;&nbsp;MAD Commercial Mortgage Trust, Ser 11MD, Cl C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.631%, 10/15/42 (A)(B) | 3670000 | 3696096 |
| &nbsp;&nbsp;&nbsp;NW RE-REMIC TRUST, Ser 2021-FRR1, Cl AK88 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.769%, 12/18/51 (A)(B) | 2500000 | 2253701 |
| &nbsp;&nbsp;&nbsp;NYC Commercial Mortgage Trust, Ser 300P, Cl A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.879%, 07/13/42 (A)(B) | 2550000 | 2560038 |
| &nbsp;&nbsp;&nbsp;OBX Trust, Ser 2022-NQM1, Cl M1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.504%, 11/25/61 (A)(B) | 1010000 | 739654 |
| &nbsp;&nbsp;&nbsp;One Bryant Park Trust, Ser 2019-OBP, Cl A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.516%, 09/15/54 (B) | 3385000 | 3122312 |
| &nbsp;&nbsp;&nbsp;Onslow Bay Mortgage Loan Trust, Ser 2021-NQM4, Cl M1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.248%, 10/25/61 (B) | 1750000 | 1222103 |
| &nbsp;&nbsp;&nbsp;OWS Real Estate Finance, Ser MARG2, Cl A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.033%, TSFR1M + 4.000%, 08/15/34 (A)(B) | 6000000 | 5999926 |
| &nbsp;&nbsp;&nbsp;PENN Commercial Mortgage Trust, Ser P11, Cl A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.344%, 08/10/42 (A)(B) | 2500000 | 2540388 |
| &nbsp;&nbsp;&nbsp;RFM Reremic Trust, Ser 2024-FRR2, Cl A123 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.015%, 02/27/54 (A)(B) | 2800000 | 2331946 |
| &nbsp;&nbsp;&nbsp;SBAP, Ser 2006-20B, Cl 1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.350%, 02/01/26 | 166 | 167 |
| &nbsp;&nbsp;&nbsp;SBAP, Ser 2006-20C, Cl 1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.570%, 03/01/26 | 175 | 175 |
| &nbsp;&nbsp;&nbsp;SBAP, Ser 2007-20C, Cl 1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.230%, 03/01/27 | 358 | 360 |
| &nbsp;&nbsp;&nbsp;SFAVE Commercial Mortgage Securities Trust, Ser 2015-5AVE, Cl A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.872%, 01/05/43 (A)(B) | 3045000 | 2622995 |
| &nbsp;&nbsp;&nbsp;SFAVE Commercial Mortgage Securities Trust, Ser 2015-5AVE, Cl A2B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.144%, 01/05/43 (A)(B) | 5447000 | 4719276 |

---

**MORTGAGE-BACKED SECURITIES — continued**

---

| | | |
|:---|:---|:---|
|  | **Face Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;SFAVE Commercial Mortgage Securities Trust, Ser 2015-5AVE, Cl C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.388%, 01/05/43 (A)(B) | $2565000 | $2057273 |
| &nbsp;&nbsp;&nbsp;SLG Office Trust, Ser 2021-OVA, Cl C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.851%, 07/15/41 (B) | 2500000 | 2212596 |
| &nbsp;&nbsp;&nbsp;STWD Mortgage Trust, Ser 2021-LIH, Cl AS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.404%, TSFR1M + 1.371%, 11/15/36 (A)(B) | 1000000 | 998763 |
| &nbsp;&nbsp;&nbsp;TCO Commercial Mortgage Trust, Ser DPM, Cl A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.275%, TSFR1M + 1.243%, 12/15/39 (A)(B) | 510000 | 510000 |
| &nbsp;&nbsp;&nbsp;Vendee Mortgage Trust, Ser 2011-2, Cl DZ |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.750%, 10/15/41 | 1170698 | 1104995 |
| &nbsp;&nbsp;&nbsp;Verus Securitization Trust, Ser 2021-1, Cl A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.815%, 01/25/66 (A)(B) | 3252954 | 2929622 |
| &nbsp;&nbsp;&nbsp;Verus Securitization Trust, Ser 2021-2, Cl M1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.187%, 02/25/66 (A)(B) | 2910000 | 2367852 |
| &nbsp;&nbsp;&nbsp;Verus Securitization Trust, Ser 2021-4, Cl M1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.195%, 07/25/66 (A)(B) | 1400000 | 989273 |
| &nbsp;&nbsp;&nbsp;Verus Securitization Trust, Ser 2021-5, Cl A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.218%, 09/25/66 (A)(B) | 1745428 | 1521152 |
| &nbsp;&nbsp;&nbsp;Verus Securitization Trust, Ser 2021-5, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.373%, 09/25/66 (A)(B) | 1732499 | 1512688 |
| &nbsp;&nbsp;&nbsp;Verus Securitization Trust, Ser 2021-R3, Cl M1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.411%, 04/25/64 (A)(B) | 2745000 | 2470497 |
| &nbsp;&nbsp;&nbsp;Verus Securitization Trust, Ser 2024-3, Cl A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.642%, 04/25/69 (B)(E) | 1978070 | 2002470 |
| &nbsp;&nbsp;&nbsp;Verus Securitization Trust, Ser 2024-9, Cl M1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.198%, 11/25/69 (A)(B) | 1820000 | 1833011 |
| &nbsp;&nbsp;&nbsp;Verus Securitization Trust, Ser 2025-1, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.976%, 01/25/70 (B)(E) | 1762391 | 1774610 |
| &nbsp;&nbsp;&nbsp;Verus Securitization Trust, Ser 2025-2, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.662%, 03/25/70 (B)(E) | 3025539 | 3034950 |
| &nbsp;&nbsp;&nbsp;Verus Securitization Trust, Ser 2025-8, Cl A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.869%, 09/25/70 (A)(B) | 937396 | 935700 |
| &nbsp;&nbsp;&nbsp;WB Commercial Mortgage Trust, Ser 2024-HQ, Cl A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.937%, 03/15/40 (A)(B) | 500000 | 500563 |

---

 

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS BOND FUND**

**OCTOBER 31, 2025**

**MORTGAGE-BACKED SECURITIES — continued**

---

| | | |
|:---|:---|:---|
|  | **Face Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust, Ser 2019-C52, Cl C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.561%, 08/15/52 | $1100000 | $932884 |
| &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust, Ser 2022-C62, Cl A4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 04/15/55 (A) | 420000 | 401789 |
| &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust, Ser 2024-SVEN, Cl A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.011%, 06/10/37 (B) | 1650000 | 1713698 |
| &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust, Ser 5C4, Cl C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.284%, 05/15/58 (A) | 738000 | 756101 |
| &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust, Ser 609M, Cl A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.575%, TSFR1M + 1.542%, 08/15/42 (A)(B) | 500000 | 499375 |
| &nbsp;&nbsp;&nbsp;WHARF Commercial Mortgage Trust, Ser DC, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.612%, 07/15/40 (A)(B) | 1000000 | 1025356 |
|  |  | 140712039 |
| &nbsp;&nbsp;&nbsp;Total Mortgage-Backed Securities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $618,232,650) |  | 604764753 |
| **ASSET-BACKED SECURITIES — 9.1%** | **ASSET-BACKED SECURITIES — 9.1%** | **ASSET-BACKED SECURITIES — 9.1%** |
| **Automotive — 6.3%** | **Automotive — 6.3%** | **Automotive — 6.3%** |
| &nbsp;&nbsp;&nbsp;Ally Auto Receivables Trust, Ser 2025-1, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.960%, 03/15/30 | $355000 | $354723 |
| &nbsp;&nbsp;&nbsp;American Credit Acceptance Receivables Trust, Ser 2023-4, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.650%, 09/12/30 (B) | 1155000 | 1193668 |
| &nbsp;&nbsp;&nbsp;American Credit Acceptance Receivables Trust, Ser 2024-1, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.860%, 05/13/30 (B) | 4560000 | 4616498 |
| &nbsp;&nbsp;&nbsp;American Credit Acceptance Receivables Trust, Ser 2025-2, Cl C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.110%, 03/12/31 (B) | 525000 | 529294 |
| &nbsp;&nbsp;&nbsp;American Credit Acceptance Receivables Trust, Ser 2025-4, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 09/12/31 (B) | 3980000 | 3978287 |
| &nbsp;&nbsp;&nbsp;AutoNation Finance Trust, Ser 2025-1A, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.620%, 11/13/29 (B) | 370000 | 372585 |

---

**ASSET-BACKED SECURITIES — continued**

---

| | | |
|:---|:---|:---|
|  | **Face Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;Avis Budget Rental Car Funding AESOP, Ser 2024-1A, Cl A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.360%, 06/20/30 (B) | $1495000 | $1540627 |
| &nbsp;&nbsp;&nbsp;Avis Budget Rental Car Funding AESOP, Ser 2025-2A, Cl A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.120%, 08/20/31 (B) | 550000 | 565378 |
| &nbsp;&nbsp;&nbsp;BMW Vehicle Lease Trust, Ser 2024-2, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.180%, 10/25/27 | 545000 | 545647 |
| &nbsp;&nbsp;&nbsp;BMW Vehicle Lease Trust, Ser 2025-1, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.430%, 06/26/28 | 285000 | 286763 |
| &nbsp;&nbsp;&nbsp;BofA Auto Trust, Ser 2025-1A, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.350%, 11/20/29 (B) | 255000 | 256144 |
| &nbsp;&nbsp;&nbsp;Bridgecrest Lending Auto Securitization Trust, Ser 2024-3, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.340%, 04/17/28 | 332024 | 332677 |
| &nbsp;&nbsp;&nbsp;Bridgecrest Lending Auto Securitization Trust, Ser 2024-3, Cl B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.370%, 10/16/28 | 615000 | 617879 |
| &nbsp;&nbsp;&nbsp;Bridgecrest Lending Auto Securitization Trust, Ser 2025-2, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.780%, 12/15/28 | 820000 | 822307 |
| &nbsp;&nbsp;&nbsp;Bridgecrest Lending Auto Securitization Trust, Ser 2025-2, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.620%, 03/17/31 | 7915000 | 7971117 |
| &nbsp;&nbsp;&nbsp;Bridgecrest Lending Auto Securitization Trust, Ser 2025-3, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.660%, 01/15/29 | 370000 | 371278 |
| &nbsp;&nbsp;&nbsp;CarMax Auto Owner Trust, Ser 2024-3, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.890%, 07/16/29 | 790000 | 798348 |
| &nbsp;&nbsp;&nbsp;CarMax Auto Owner Trust, Ser 2024-4, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.600%, 10/15/29 | 1475000 | 1487322 |
| &nbsp;&nbsp;&nbsp;CarMax Auto Owner Trust, Ser 2025-2, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.480%, 03/15/30 | 480000 | 483662 |
| &nbsp;&nbsp;&nbsp;Carmax Auto Owner Trust, Ser 2025-4, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.970%, 12/16/30 | 455000 | 453487 |
| &nbsp;&nbsp;&nbsp;CarMax Select Receivables Trust, Ser 2025-A, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.770%, 09/17/29 | 745000 | 750472 |
| &nbsp;&nbsp;&nbsp;Carvana Auto Receivables Trust, Ser 2024-P4, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.640%, 01/10/30 | 225000 | 225929 |

---

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS BOND FUND**

**OCTOBER 31, 2025**

**ASSET-BACKED SECURITIES — continued**

---

| | | |
|:---|:---|:---|
|  | **Face <br> Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;Carvana Auto Receivables Trust, Ser 2025-P2, Cl A4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.750%, 06/10/31 | $1005000 | $1021267 |
| &nbsp;&nbsp;&nbsp;Carvana Auto Receivables Trust, Ser 2025-P3, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.040%, 11/11/30 | 580000 | 578881 |
| &nbsp;&nbsp;&nbsp;CPS Auto Receivables Trust, Ser 2024-B, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.420%, 07/15/30 (B) | 2965000 | 3035254 |
| &nbsp;&nbsp;&nbsp;Credit Acceptance Auto Loan Trust, Ser 2024-3A, Cl A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.680%, 09/15/34 (B) | 2275000 | 2283944 |
| &nbsp;&nbsp;&nbsp;Credit Acceptance Auto Loan Trust, Ser 2025-1A, Cl A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.020%, 03/15/35 (B) | 925000 | 934286 |
| &nbsp;&nbsp;&nbsp;Drive Auto Receivables Trust, Ser 2024-2, Cl B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.520%, 07/16/29 | 765000 | 766465 |
| &nbsp;&nbsp;&nbsp;Drive Auto Receivables Trust, Ser 2025-2, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.900%, 12/15/32 | 3905000 | 3870331 |
| &nbsp;&nbsp;&nbsp;Drive Auto Receivables Trust, Ser 2025-S1, Cl R2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.260%, 06/16/29 (B) | 4915374 | 4938381 |
| &nbsp;&nbsp;&nbsp;Enterprise Fleet Financing, Ser 2024-3, Cl A4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.060%, 03/20/31 (B) | 840000 | 857090 |
| &nbsp;&nbsp;&nbsp;Enterprise Fleet Financing, Ser 2025-1, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.820%, 02/20/29 (B) | 335000 | 339816 |
| &nbsp;&nbsp;&nbsp;Enterprise Fleet Financing, Ser 2025-3, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.460%, 09/20/29 (B) | 865000 | 873283 |
| &nbsp;&nbsp;&nbsp;Exeter Automobile Receivables Trust, Ser 2021-2A, Cl E |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.900%, 07/17/28 (B) | 1590000 | 1580427 |
| &nbsp;&nbsp;&nbsp;Exeter Automobile Receivables Trust, Ser 2022-5A, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.400%, 02/15/29 | 3945000 | 3995856 |
| &nbsp;&nbsp;&nbsp;Exeter Automobile Receivables Trust, Ser 2023-4A, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.950%, 12/17/29 | 1100000 | 1124979 |
| &nbsp;&nbsp;&nbsp;Exeter Automobile Receivables Trust, Ser 2024-1A, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.840%, 06/17/30 | 4215000 | 4271323 |
| &nbsp;&nbsp;&nbsp;Exeter Automobile Receivables Trust, Ser 2024-2A, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.920%, 02/15/30 | 2850000 | 2897126 |
| &nbsp;&nbsp;&nbsp;Exeter Automobile Receivables Trust, Ser 2024-4A, Cl C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.480%, 08/15/30 | 700000 | 704937 |
| &nbsp;&nbsp;&nbsp;Exeter Automobile Receivables Trust, Ser 2025-2A, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.740%, 01/16/29 | 1240000 | 1244397 |

---

**ASSET-BACKED SECURITIES — continued**

---

| | | |
|:---|:---|:---|
|  | **Face <br> Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;Exeter Automobile Receivables Trust, Ser 2025-4A, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.390%, 09/17/29 | $145000 | $145385 |
| &nbsp;&nbsp;&nbsp;Exeter Select Automobile Receivables Trust, Ser 2025-1, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.690%, 04/15/30 | 210000 | 211500 |
| &nbsp;&nbsp;&nbsp;Flagship Credit Auto Trust, Ser 2021-2, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.590%, 06/15/27 (B) | 3725742 | 3678250 |
| &nbsp;&nbsp;&nbsp;Ford Credit Auto Lease Trust, Ser 2025-A, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.720%, 06/15/28 | 420000 | 423211 |
| &nbsp;&nbsp;&nbsp;Ford Credit Auto Owner Trust, Ser 2021-1, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.310%, 10/17/33 (B) | 1750000 | 1726624 |
| &nbsp;&nbsp;&nbsp;Ford Credit Auto Owner Trust, Ser 2024-B, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.100%, 04/15/29 | 1082000 | 1095932 |
| &nbsp;&nbsp;&nbsp;GLS Auto Receivables Issuer Trust, Ser 2023-1A, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.010%, 01/16/29 (B) | 1415000 | 1444888 |
| &nbsp;&nbsp;&nbsp;GLS Auto Receivables Issuer Trust, Ser 2023-2A, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.310%, 03/15/29 (B) | 2341000 | 2396335 |
| &nbsp;&nbsp;&nbsp;GLS Auto Receivables Issuer Trust, Ser 2024-1A, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.950%, 12/17/29 (B) | 1210000 | 1230300 |
| &nbsp;&nbsp;&nbsp;GLS Auto Receivables Issuer Trust, Ser 2024-3A, Cl B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.080%, 01/16/29 (B) | 365000 | 367123 |
| &nbsp;&nbsp;&nbsp;GLS Auto Receivables Issuer Trust, Ser 2024-4A, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.750%, 07/17/28 (B) | 320000 | 320960 |
| &nbsp;&nbsp;&nbsp;GLS Auto Receivables Issuer Trust, Ser 2025-1A, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.610%, 11/15/30 (B) | 6100000 | 6169095 |
| &nbsp;&nbsp;&nbsp;GLS Auto Receivables Issuer Trust, Ser 2025-2A, Cl C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.110%, 01/15/31 (B) | 310000 | 312591 |
| &nbsp;&nbsp;&nbsp;GLS Auto Receivables Issuer Trust, Ser 2025-3A, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.160%, 06/16/31 (B) | 2020000 | 2009490 |
| &nbsp;&nbsp;&nbsp;GLS Auto Select Receivables Issuer Trust, Ser 2025-4A, Cl A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.170%, 02/18/31 (B) | 305000 | 304754 |
| &nbsp;&nbsp;&nbsp;GLS Auto Select Receivables Trust, Ser 2024-4A, Cl A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.430%, 12/17/29 (B) | 274475 | 274851 |
| &nbsp;&nbsp;&nbsp;GLS Auto Select Receivables Trust, Ser 2025-1A, Cl A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.710%, 04/15/30 (B) | 372635 | 374708 |

---

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS BOND FUND**

**OCTOBER 31, 2025**

**ASSET-BACKED SECURITIES — continued**

---

| | | |
|:---|:---|:---|
|  | **Face <br> Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;GLS Auto Select Receivables Trust, Ser 2025-3A, Cl A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.460%, 10/15/30 (B) | $365000 | $366410 |
| &nbsp;&nbsp;&nbsp;GM Financial Automobile Leasing Trust, Ser 2025-1, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.660%, 02/21/28 | 570000 | 574139 |
| &nbsp;&nbsp;&nbsp;GM Financial Automobile Leasing Trust, Ser 2025-3, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.170%, 08/21/28 | 810000 | 812039 |
| &nbsp;&nbsp;&nbsp;Hertz Vehicle Financing III, Ser 2023-2A, Cl A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.570%, 09/25/29 (B) | 2000000 | 2058312 |
| &nbsp;&nbsp;&nbsp;Hertz Vehicle Financing III, Ser 2024-1A, Cl A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.440%, 01/25/29 (B) | 1115000 | 1137152 |
| &nbsp;&nbsp;&nbsp;Hertz Vehicle Financing, Ser 2022-2A, Cl A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.330%, 06/26/28 (B) | 1235000 | 1200171 |
| &nbsp;&nbsp;&nbsp;Hyundai Auto Receivables Trust, Ser 2025-B, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.360%, 12/17/29 | 360000 | 363127 |
| &nbsp;&nbsp;&nbsp;LAD Auto Receivables Trust, Ser 2024-3A, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.520%, 03/15/29 (B) | 330000 | 331070 |
| &nbsp;&nbsp;&nbsp;LAD Auto Receivables Trust, Ser 2025-1A, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.690%, 07/16/29 (B) | 910000 | 916475 |
| &nbsp;&nbsp;&nbsp;LAD Auto Receivables Trust, Ser 2025-2A, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.250%, 01/15/30 (B) | 970000 | 971357 |
| &nbsp;&nbsp;&nbsp;M&T Bank Auto Receivables Trust, Ser 2025-1A, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.730%, 06/17/30 (B) | 290000 | 293494 |
| &nbsp;&nbsp;&nbsp;Octane Receivables Trust, Ser 2023-1A, Cl C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.370%, 09/20/29 (B) | 895000 | 909097 |
| &nbsp;&nbsp;&nbsp;Octane Receivables Trust, Ser 2023-2A, Cl C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.240%, 06/20/31 (B) | 3580000 | 3635135 |
| &nbsp;&nbsp;&nbsp;Octane Receivables Trust, Ser 2024-2A, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.190%, 07/20/32 (B) | 1560000 | 1589849 |
| &nbsp;&nbsp;&nbsp;Octane Receivables Trust, Ser 2024-3A, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.860%, 10/20/31 (B) | 1950000 | 1977982 |
| &nbsp;&nbsp;&nbsp;Octane Receivables Trust, Ser 2024-RPT1, Cl R1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.680%, 02/22/30 | 1824000 | 1823991 |
| &nbsp;&nbsp;&nbsp;Octane Receivables Trust, Ser 2025-1A, Cl A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.250%, 02/20/31 (B) | 930000 | 928658 |

---

**ASSET-BACKED SECURITIES — continued**

---

| | | |
|:---|:---|:---|
|  | **Face <br> Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;PenFed Auto Receivables Owner Trust, Ser 2024-A, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.700%, 06/15/29 (B) | $340000 | $341570 |
| &nbsp;&nbsp;&nbsp;Santander Drive Auto Receivables Trust, Ser 2023-1, Cl C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.090%, 05/15/30 | 4244632 | 4269455 |
| &nbsp;&nbsp;&nbsp;Santander Drive Auto Receivables Trust, Ser 2023-S1, Cl R1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.140%, 04/18/28 (B) | 1626836 | 1628244 |
| &nbsp;&nbsp;&nbsp;Santander Drive Auto Receivables Trust, Ser 2024-2, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.280%, 08/15/31 | 3730000 | 3829801 |
| &nbsp;&nbsp;&nbsp;Santander Drive Auto Receivables Trust, Ser 2024-3, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.970%, 10/15/31 | 3200000 | 3262955 |
| &nbsp;&nbsp;&nbsp;Santander Drive Auto Receivables Trust, Ser 2024-4, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.850%, 01/16/29 | 4796 | 4807 |
| &nbsp;&nbsp;&nbsp;Santander Drive Auto Receivables Trust, Ser 2024-S1, Cl R1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.530%, 03/16/29 (B) | 4552083 | 4553759 |
| &nbsp;&nbsp;&nbsp;Santander Drive Auto Receivables Trust, Ser 2024-S2, Cl R1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.800%, 12/16/28 (B) | 4935806 | 4935517 |
| &nbsp;&nbsp;&nbsp;Santander Drive Auto Receivables Trust, Ser 2025-2, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.670%, 08/15/29 | 690000 | 693563 |
| &nbsp;&nbsp;&nbsp;SBNA Auto Lease Trust, Ser 2024-C, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.560%, 02/22/28 (B) | 195000 | 195351 |
| &nbsp;&nbsp;&nbsp;SBNA Auto Receivables Trust, Ser 2024-A, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.040%, 04/15/30 (B) | 2155000 | 2201767 |
| &nbsp;&nbsp;&nbsp;SFS Auto Receivables Securitization Trust, Ser 2024-3A, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.550%, 06/20/30 (B) | 265000 | 266115 |
| &nbsp;&nbsp;&nbsp;SFS Auto Receivables Securitization Trust, Ser 2025-1A, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.750%, 07/22/30 (B) | 285000 | 287990 |
| &nbsp;&nbsp;&nbsp;SFS Auto Receivables Securitization Trust, Ser 2025-2A, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.440%, 12/20/30 (B) | 1000000 | 1007175 |

---

 

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS BOND FUND**

**OCTOBER 31, 2025**

**ASSET-BACKED SECURITIES — continued**

---

| | | |
|:---|:---|:---|
|  | **Face <br> Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;Tesla Auto Lease Trust, Ser 2023-B, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.130%, 09/21/26 (B) | $74532 | $74601 |
| &nbsp;&nbsp;&nbsp;Tesla Auto Lease Trust, Ser 2023-B, Cl B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.570%, 08/20/27 (B) | 870000 | 872821 |
| &nbsp;&nbsp;&nbsp;Tesla Auto Lease Trust, Ser 2024-A, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.300%, 06/21/27 (B) | 807831 | 810286 |
| &nbsp;&nbsp;&nbsp;Tesla Electric Vehicle Trust, Ser 2023-1, Cl A2A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.540%, 12/21/26 (B) | 35541 | 35560 |
| &nbsp;&nbsp;&nbsp;Tesla Electric Vehicle Trust, Ser 2023-1, Cl A4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.380%, 02/20/29 (B) | 900000 | 914193 |
| &nbsp;&nbsp;&nbsp;Tesla Sustainable Energy Trust, Ser 2024-1A, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.290%, 06/20/50 (B) | 1335000 | 1338945 |
| &nbsp;&nbsp;&nbsp;Toyota Lease Owner Trust, Ser 2025-B, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.960%, 11/20/28 (B) | 680000 | 679383 |
| &nbsp;&nbsp;&nbsp;USB Auto Owner Trust, Ser 2025-1A, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.490%, 06/17/30 (B) | 145000 | 146110 |
| &nbsp;&nbsp;&nbsp;Westlake Automobile Receivables Trust, Ser 2023-1A, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.790%, 11/15/28 (B) | 1925000 | 1968527 |
| &nbsp;&nbsp;&nbsp;Westlake Automobile Receivables Trust, Ser 2023-2A, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.010%, 11/15/28 (B) | 2340000 | 2382846 |
| &nbsp;&nbsp;&nbsp;Westlake Automobile Receivables Trust, Ser 2024-1A, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.020%, 10/15/29 (B) | 2010000 | 2043811 |
| &nbsp;&nbsp;&nbsp;Westlake Automobile Receivables Trust, Ser 2024-2A, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.910%, 04/15/30 (B) | 1005000 | 1025453 |
| &nbsp;&nbsp;&nbsp;Westlake Automobile Receivables Trust, Ser 2024-3A, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.710%, 04/17/28 (B) | 480000 | 481488 |
| &nbsp;&nbsp;&nbsp;Westlake Automobile Receivables Trust, Ser 2025-1A, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.750%, 08/15/28 (B) | 1310000 | 1316905 |
| &nbsp;&nbsp;&nbsp;Westlake Automobile Receivables Trust, Ser 2025-1A, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.540%, 11/15/30 (B) | 3570000 | 3620645 |

---

**ASSET-BACKED SECURITIES — continued**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Face<br> Amount** | **Face<br> Amount** | **Value** | **Value** |
| &nbsp;&nbsp;&nbsp;Westlake Automobile Receivables Trust, Ser 2025-2A, Cl A3 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.510%, 05/15/29 (B) | $| 285000 | $| 285598 |
| &nbsp;&nbsp;&nbsp;Westlake Automobile Receivables Trust, Ser 2025-3A, Cl A3 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.220%, 06/15/29 (B) |  | 430000 |  | 429725 |
| &nbsp;&nbsp;&nbsp;Wheels Fleet Lease Funding 1, Ser 2024-2A, Cl A1 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.870%, 06/21/39 (B) |  | 381019 |  | 384123 |
| &nbsp;&nbsp;&nbsp;Wheels Fleet Lease Funding 1, Ser 2024-3A, Cl A1 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.800%, 09/19/39 (B) |  | 654273 |  | 659980 |
| &nbsp;&nbsp;&nbsp;Wheels Fleet Lease Funding 1, Ser 2025-3A, Cl A1 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.080%, 09/18/40 (B) |  | 535000 |  | 533922 |
| &nbsp;&nbsp;&nbsp;World Omni Auto Receivables Trust, Ser 2024-C, Cl A3 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.430%, 12/17/29 |  | 500000 |  | 502232 |
| &nbsp;&nbsp;&nbsp;World Omni Auto Receivables Trust, Ser 2025-C, Cl A3 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.080%, 11/15/30 |  | 1060000 |  | 1062922 |
| &nbsp;&nbsp;&nbsp;World Omni Select Auto Trust, Ser 2024-A, Cl A3 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.980%, 02/15/30 |  | 460000 |  | 462126 |
|  |  |  |  | 155756861 |
| **Other Asset-Backed Securities — 2.8%** | **Other Asset-Backed Securities — 2.8%** | **Other Asset-Backed Securities — 2.8%** | **Other Asset-Backed Securities — 2.8%** | **Other Asset-Backed Securities — 2.8%** |
| &nbsp;&nbsp;&nbsp;Affirm Asset Securitization Trust, Ser 2025-X1, Cl D |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.110%, 04/15/30 (B) |  | 3200000 |  | 3209090 |
| &nbsp;&nbsp;&nbsp;Affirm Master Trust, Ser 2025-2A, Cl A |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.670%, 07/15/33 (B) |  | 1120000 |  | 1123287 |
| &nbsp;&nbsp;&nbsp;AGL CLO 11, Ser 2025-11A, Cl CR |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.914%, TSFR3M + 1.950%, 10/15/38 (A)(B) |  | 2750000 |  | 2746359 |
| &nbsp;&nbsp;&nbsp;Applebee's Funding, Ser 2025-1A, Cl A2 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.720%, 06/07/55 (B) |  | 2060000 |  | 2060622 |
| &nbsp;&nbsp;&nbsp;BHG Securitization Trust, Ser 2025-2CON, Cl A |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.840%, 09/17/36 (B) |  | 505197 |  | 508560 |
| &nbsp;&nbsp;&nbsp;CIFC Funding, Ser 2025-3A, Cl CR2 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.694%, TSFR3M + 1.800%, 01/16/38 (A)(B) |  | 2285000 |  | 2282068 |
| &nbsp;&nbsp;&nbsp;Compass Datacenters Issuer II, Ser 2024-2A, Cl A1 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.022%, 08/25/49 (B) |  | 335000 |  | 336340 |
| &nbsp;&nbsp;&nbsp;Compass Datacenters Issuer III, Ser 2025-1A, Cl A2 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.656%, 02/25/50 (B) |  | 245000 |  | 249507 |

---

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS BOND FUND**

**OCTOBER 31, 2025**

**ASSET-BACKED SECURITIES — continued**

---

| | | |
|:---|:---|:---|
|  | **Face <br> Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;Consumer Portfolio Services Auto Trust, Ser 2025-B, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.560%, 07/15/31 (B) | $2505000 | $2525709 |
| &nbsp;&nbsp;&nbsp;Consumer Portfolio Services Auto Trust, Ser 2025-D, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.450%, 02/17/32 (B) | 2745000 | 2748604 |
| &nbsp;&nbsp;&nbsp;Crockett Partners Equipment IIA, Ser 2024-1C, Cl A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.050%, 01/20/31 (B) | 513864 | 516440 |
| &nbsp;&nbsp;&nbsp;CyrusOne Data Centers Issuer I, Ser 2025-1A, Cl A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.910%, 02/20/50 (B) | 675000 | 688601 |
| &nbsp;&nbsp;&nbsp;EnFin Residential Solar Receivables Trust, Ser 2024-2A, Cl A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.980%, 09/20/55 (B) | 1360766 | 1304580 |
| &nbsp;&nbsp;&nbsp;Extended Stay America Trust, Ser ESH, Cl A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.450%, TSFR1M + 1.300%, 10/15/42 (A)(B) | 225000 | 225422 |
| &nbsp;&nbsp;&nbsp;Frontier Issuer, Ser 2023-1, Cl A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.600%, 08/20/53 (B) | 1625000 | 1645186 |
| &nbsp;&nbsp;&nbsp;Frontier Issuer, Ser 2023-1, Cl C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.500%, 08/20/53 (B) | 1000000 | 1037097 |
| &nbsp;&nbsp;&nbsp;Frontier Issuer, Ser 2024-1, Cl A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.190%, 06/20/54 (B) | 880000 | 906267 |
| &nbsp;&nbsp;&nbsp;Golub Capital Partners CLO, Ser 2025-78A, Cl C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.870%, TSFR3M + 2.000%, 04/21/39 (A)(B) | 3115000 | 3056943 |
| &nbsp;&nbsp;&nbsp;GoodLeap Sustainable Home Solutions Trust, Ser 2021-5CS, Cl B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.560%, 10/20/48 (B) | 2095235 | 1541688 |
| &nbsp;&nbsp;&nbsp;GoodLeap Sustainable Home Solutions Trust, Ser 2023-1GS, Cl A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.520%, 02/22/55 (B) | 1464107 | 1367683 |
| &nbsp;&nbsp;&nbsp;GreenSky Home Improvement Issuer Trust, Ser 2024-2, Cl A4 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.150%, 10/27/59 (B) | 72639 | 73738 |
| &nbsp;&nbsp;&nbsp;GreenSky Home Improvement Trust, Ser 2024-1, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.550%, 06/25/59 (B) | 365000 | 374407 |
| &nbsp;&nbsp;&nbsp;Hotwire Funding, Ser 2024-1A, Cl A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.893%, 06/20/54 (B) | 1820000 | 1847965 |
| &nbsp;&nbsp;&nbsp;MetroNet Infrastructure Issuer, Ser 2025-2A, Cl A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.400%, 08/20/55 (B) | 5375000 | 5438520 |

---

**ASSET-BACKED SECURITIES — continued**

---

| | | |
|:---|:---|:---|
|  | **Face <br> Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;Mission Lane Credit Card Master Trust, Ser 2024-B, Cl A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.880%, 01/15/30 (B) | $610000 | $614106 |
| &nbsp;&nbsp;&nbsp;Mosaic Solar Loan Trust, Ser 2022-1A, Cl B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.160%, 01/20/53 (B) | 973749 | 703696 |
| &nbsp;&nbsp;&nbsp;MVW Owner Trust, Ser 2024-1A, Cl C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.200%, 02/20/43 (B) | 601725 | 612526 |
| &nbsp;&nbsp;&nbsp;New Economy Assets, Ser 2021-1, Cl A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.910%, 10/20/61 (B) | 1090000 | 919666 |
| &nbsp;&nbsp;&nbsp;NextGear Floorplan Master Owner Trust, Ser 2025-2A, Cl A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.230%, 10/15/30 (B) | 500000 | 499368 |
| &nbsp;&nbsp;&nbsp;OWN Equipment Fund I, Ser 2024-2M, Cl A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.700%, 12/20/32 (B) | 764232 | 760394 |
| &nbsp;&nbsp;&nbsp;Pagaya Ai Debt Grantor Trust, Ser 2025-6, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.268%, 04/15/33 (B) | 3500000 | 3481412 |
| &nbsp;&nbsp;&nbsp;Pagaya AI Debt Trust, Ser 2024-10, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.429%, 06/15/32 (B) | 2547775 | 2565738 |
| &nbsp;&nbsp;&nbsp;Pagaya AI Debt Trust, Ser 2024-3, Cl C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.297%, 10/15/31 (B) | 1172288 | 1181217 |
| &nbsp;&nbsp;&nbsp;Pagaya AI Debt Trust, Ser 2025-1, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.282%, 07/15/32 (B) | 2569781 | 2581186 |
| &nbsp;&nbsp;&nbsp;Pagaya AI Debt Trust, Ser 2025-4, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.572%, 01/17/33 (B) | 2895000 | 2916663 |
| &nbsp;&nbsp;&nbsp;PK Alift Loan Funding 7, Ser 2025-2, Cl A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.750%, 03/15/43 (B) | 255000 | 255389 |
| &nbsp;&nbsp;&nbsp;Renew, Ser 2024-2A, Cl A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.326%, 11/20/60 (B) | 956611 | 917426 |
| &nbsp;&nbsp;&nbsp;Republic Finance Issuance Trust, Ser 2024-A, Cl A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.910%, 08/20/32 (B) | 405000 | 409204 |
| &nbsp;&nbsp;&nbsp;SCF Equipment Trust, Ser 2025-1A, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.110%, 11/21/33 (B) | 615000 | 628590 |
| &nbsp;&nbsp;&nbsp;SEB Funding, Ser 2024-1A, Cl A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.386%, 04/30/54 (B) | 30000 | 30713 |
| &nbsp;&nbsp;&nbsp;Sierra Timeshare Receivables Funding, Ser 2024-1A, Cl C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.940%, 01/20/43 (B) | 754657 | 765863 |
| &nbsp;&nbsp;&nbsp;Sierra Timeshare Receivables Funding, Ser 2024-2A, Cl A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.140%, 06/20/41 (B) | 664197 | 673463 |

---

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS BOND FUND**

**OCTOBER 31, 2025**

**ASSET-BACKED SECURITIES — continued**

---

| | | |
|:---|:---|:---|
|  | **Face <br> Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;SMB Private Education Loan Trust, Ser 2017-B, Cl A2A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.820%, 10/15/35 (B) | $11394 | $11337 |
| &nbsp;&nbsp;&nbsp;SMB Private Education Loan Trust, Ser 2018-A, Cl A2A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.500%, 02/15/36 (B) | 237254 | 235863 |
| &nbsp;&nbsp;&nbsp;SMB Private Education Loan Trust, Ser 2023-B, Cl A1A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.990%, 10/16/56 (B) | 1183893 | 1192449 |
| &nbsp;&nbsp;&nbsp;SMB Private Education Loan Trust, Ser 2024-A, Cl A1A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.240%, 03/15/56 (B) | 1503590 | 1525213 |
| &nbsp;&nbsp;&nbsp;SoFi Consumer Loan Program Trust, Ser 2025-2, Cl A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.820%, 06/25/34 (B) | 277626 | 278852 |
| &nbsp;&nbsp;&nbsp;Stellantis Financial Underwritten Enhanced Lease Trust, Ser 2025-BA, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.270%, 01/22/29 (B) | 930000 | 932768 |
| &nbsp;&nbsp;&nbsp;Sunnova Helios XI Issuer, Ser 2023-A, Cl A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.300%, 05/20/50 (B) | 869741 | 797941 |
| &nbsp;&nbsp;&nbsp;Sunnova Helios XII Issuer, Ser 2023-B, Cl A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.300%, 08/22/50 (B) | 852616 | 790978 |
| &nbsp;&nbsp;&nbsp;Sunnova Hestia I Issuer, Ser 2023-GRID1, Cl 1A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.750%, 12/20/50 (B) | 1029514 | 1038813 |
| &nbsp;&nbsp;&nbsp;Sunnova Hestia II Issuer, Ser 2024-GRID1, Cl 1A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.630%, 07/20/51 (B) | 1036028 | 1037465 |
| &nbsp;&nbsp;&nbsp;Sunrun Julius Issuer, Ser 2023-2A, Cl A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.600%, 01/30/59 (B) | 1213385 | 1225603 |
| &nbsp;&nbsp;&nbsp;United States Small Business Administration, Ser 2006-20F, Cl 1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.820%, 06/01/26 | 168 | 168 |
| &nbsp;&nbsp;&nbsp;United States Small Business Administration, Ser 2006-20G, Cl 1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.070%, 07/01/26 | 441 | 442 |
| &nbsp;&nbsp;&nbsp;United States Small Business Administration, Ser 2006-20H, Cl 1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.700%, 08/01/26 | 316 | 317 |
| &nbsp;&nbsp;&nbsp;United States Small Business Administration, Ser 2007-20D, Cl 1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.320%, 04/01/27 | 1207 | 1212 |
| &nbsp;&nbsp;&nbsp;United States Small Business Administration, Ser 2007-20E, Cl 1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.310%, 05/01/27 | 648 | 647 |

---

**ASSET-BACKED SECURITIES — continued**

---

| | | |
|:---|:---|:---|
|  | **Face <br> Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;United States Small Business Administration, Ser 2007-20F, Cl 1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.710%, 06/01/27 | $1408 | $1418 |
| &nbsp;&nbsp;&nbsp;Vivint Solar Financing V, Ser 2018-1A, Cl B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.370%, 04/30/48 (B) | 219392 | 213056 |
| &nbsp;&nbsp;&nbsp;Vivint Solar Financing VII, Ser 2020-1A, Cl A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.210%, 07/31/51 (B) | 1158030 | 1072042 |
| &nbsp;&nbsp;&nbsp;Volofin Finance Designated Activity, Ser 2024-1A, Cl A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.935%, 06/15/37 (B) | 511844 | 521276 |
| &nbsp;&nbsp;&nbsp;Zayo Issuer, Ser 2025-2A, Cl A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.953%, 06/20/55 (B) | 1305000 | 1338612 |
|  |  | 70547775 |
| &nbsp;&nbsp;&nbsp;Total Asset-Backed Securities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $224,709,167) |  | 226304636 |
| **MUNICIPAL BONDS — 2.9%** | **MUNICIPAL BONDS — 2.9%** | **MUNICIPAL BONDS — 2.9%** |
| **Alaska — 0.1%** | **Alaska — 0.1%** | **Alaska — 0.1%** |
| &nbsp;&nbsp;&nbsp;City of Port Lions Alaska, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.500%, 10/01/52 | $3025000 | $3177030 |
| **California — 0.9%** | **California — 0.9%** | **California — 0.9%** |
| &nbsp;&nbsp;&nbsp;California Community Choice Financing Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.125%, 04/01/30 | 1500000 | 1558838 |
| &nbsp;&nbsp;&nbsp;California Health Facilities Financing Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.034%, 06/01/34 | 1865000 | 1675135 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.984%, 06/01/33 | 3090000 | 2813837 |
| &nbsp;&nbsp;&nbsp;California Statewide Communities Development Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.682%, 02/01/39 | 500000 | 389487 |
| &nbsp;&nbsp;&nbsp;City & County of San Francisco California, GO |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.770%, 06/15/45 | 1500000 | 1549438 |
| &nbsp;&nbsp;&nbsp;City & County of San Francisco California Community Facilities District No. 2014-1, Special Tax |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.332%, 09/01/51 | 1250000 | 1286068 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.482%, 09/01/50 | 2500000 | 1783423 |
| &nbsp;&nbsp;&nbsp;City of Los Angeles California, Ser A, GO |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/01/42 | 2500000 | 2499178 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.750%, 09/01/38 | 2000000 | 2013903 |

---

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS BOND FUND**

**OCTOBER 31, 2025**

**MUNICIPAL BONDS — continued**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Face <br> Amount** | **Face <br> Amount** | **Value** | **Value** |
| &nbsp;&nbsp;&nbsp;City of Los Angeles Department of Airports Customer Facility Charge Revenue, RB |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.258%, 05/15/30 | $| 2250000 | $| 2178801 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.158%, 05/15/29 |  | 1000000 |  | 974157 |
| &nbsp;&nbsp;&nbsp;Regents of the University of California Medical Center Pooled Revenue, RB |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.563%, 05/15/53 |  | 600000 |  | 529089 |
| &nbsp;&nbsp;&nbsp;San Jose Financing Authority, RB |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.662%, 05/01/37 |  | 500000 |  | 492113 |
| &nbsp;&nbsp;&nbsp;State of California, GO |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.625%, 03/01/40 |  | 40000 |  | 48710 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.550%, 04/01/39 |  | 100000 |  | 122205 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.500%, 04/01/34 |  | 675000 |  | 794024 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.300%, 10/01/39 |  | 625000 |  | 733962 |
|  |  |  |  | 21442368 |
| **Connecticut — 0.1%** | **Connecticut — 0.1%** | **Connecticut — 0.1%** | **Connecticut — 0.1%** | **Connecticut — 0.1%** |
| &nbsp;&nbsp;&nbsp;Connecticut Green Bank, RB |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.900%, 11/15/35 |  | 2500000 |  | 2233124 |
| **District of Columbia — 0.2%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;District of Columbia, RB |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.532%, 04/01/47 |  | 1600000 |  | 1084999 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.932%, 04/01/33 |  | 1590000 |  | 1354081 |
|  |  |  |  | 2439080 |
| **Hawaii — 0.0%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;City & County of Honolulu Hawaii, Ser D, RB | &nbsp;&nbsp;&nbsp;City & County of Honolulu Hawaii, Ser D, RB | &nbsp;&nbsp;&nbsp;City & County of Honolulu Hawaii, Ser D, RB | &nbsp;&nbsp;&nbsp;City & County of Honolulu Hawaii, Ser D, RB | &nbsp;&nbsp;&nbsp;City & County of Honolulu Hawaii, Ser D, RB |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.970%, 07/01/35 |  | 840000 |  | 873334 |
| &nbsp;&nbsp;&nbsp;State of Hawaii Department of Business Economic Development & Tourism, Ser A-2, RB |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.242%, 01/01/31 |  | 650632 |  | 640793 |
|  |  |  |  | 1514127 |
| **Illinois — 0.1%** | **Illinois — 0.1%** | **Illinois — 0.1%** | **Illinois — 0.1%** | **Illinois — 0.1%** |
| &nbsp;&nbsp;&nbsp;State of Illinois, GO | &nbsp;&nbsp;&nbsp;State of Illinois, GO | &nbsp;&nbsp;&nbsp;State of Illinois, GO | &nbsp;&nbsp;&nbsp;State of Illinois, GO | &nbsp;&nbsp;&nbsp;State of Illinois, GO |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.100%, 06/01/33 |  | 1614216 |  | 1649003 |
| **Iowa — 0.0%** | **Iowa — 0.0%** | **Iowa — 0.0%** | **Iowa — 0.0%** | **Iowa — 0.0%** |
| &nbsp;&nbsp;&nbsp;Iowa Finance Authority, RB | &nbsp;&nbsp;&nbsp;Iowa Finance Authority, RB | &nbsp;&nbsp;&nbsp;Iowa Finance Authority, RB | &nbsp;&nbsp;&nbsp;Iowa Finance Authority, RB | &nbsp;&nbsp;&nbsp;Iowa Finance Authority, RB |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.000%, 11/01/27 (B) |  | 415000 |  | 420459 |
| **Maryland — 0.1%** | **Maryland — 0.1%** | **Maryland — 0.1%** | **Maryland — 0.1%** | **Maryland — 0.1%** |
| &nbsp;&nbsp;&nbsp;Maryland Economic Development, RB |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.942%, 05/31/57 |  | 2250000 |  | 2296941 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.433%, 05/31/56 |  | 500000 |  | 480627 |

---

**MUNICIPAL BONDS — continued**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Face <br> Amount** | **Face <br> Amount** | **Value** | **Value** |
| &nbsp;&nbsp;&nbsp;Montgomery County Housing Opportunities Commission, RB |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.418%, 12/01/44 | $| 1000000 | $| 995122 |
|  |  |  |  | 3772690 |
| **Minnesota — 0.2%** | **Minnesota — 0.2%** | **Minnesota — 0.2%** | **Minnesota — 0.2%** | **Minnesota — 0.2%** |
| &nbsp;&nbsp;&nbsp;Minnesota Housing Finance Agency, Ser D, RB |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.947%, 08/01/54 |  | 1200000 |  | 1207556 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.897%, 08/01/49 |  | 1400000 |  | 1405312 |
|  |  |  |  | 2612868 |
| **Nebraska — 0.1%** | **Nebraska — 0.1%** | **Nebraska — 0.1%** | **Nebraska — 0.1%** | **Nebraska — 0.1%** |
| &nbsp;&nbsp;&nbsp;City of North Platte Nebraska Combined Utilities Revenue, Ser B, RB |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.548%, 12/15/42 |  | 1525000 |  | 1542452 |
| **New Hampshire — 0.3%** | **New Hampshire — 0.3%** | **New Hampshire — 0.3%** | **New Hampshire — 0.3%** | **New Hampshire — 0.3%** |
| &nbsp;&nbsp;&nbsp;New Hampshire Business Finance Authority, RB |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.876%, 12/01/35 |  | 1500000 |  | 1607087 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.694%, 11/01/45 |  | 1000000 |  | 1007086 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.400%, 02/01/29 (A)(B) |  | 5500000 |  | 5500000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.270%, 07/01/33 (A)(B) |  | 850000 |  | 850000 |
|  |  |  |  | 8964173 |
| **New Jersey — 0.2%** | **New Jersey — 0.2%** | **New Jersey — 0.2%** | **New Jersey — 0.2%** | **New Jersey — 0.2%** |
| &nbsp;&nbsp;&nbsp;New Jersey Housing & Mortgage Finance Agency, Ser C, RB |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.100%, 11/01/40 |  | 3100000 |  | 2466090 |
| &nbsp;&nbsp;&nbsp;New Jersey Turnpike Authority, RB |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.414%, 01/01/40 |  | 275000 |  | 332606 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.102%, 01/01/41 |  | 925000 |  | 1081935 |
|  |  |  |  | 3880631 |
| **New York — 0.3%** | **New York — 0.3%** | **New York — 0.3%** | **New York — 0.3%** | **New York — 0.3%** |
| &nbsp;&nbsp;&nbsp;City of New York New York, Ser D-1, GO | &nbsp;&nbsp;&nbsp;City of New York New York, Ser D-1, GO | &nbsp;&nbsp;&nbsp;City of New York New York, Ser D-1, GO | &nbsp;&nbsp;&nbsp;City of New York New York, Ser D-1, GO | &nbsp;&nbsp;&nbsp;City of New York New York, Ser D-1, GO |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.094%, 10/01/49 |  | 1000000 |  | 961743 |
| &nbsp;&nbsp;&nbsp;New York City Housing Development, Ser D, RB |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.884%, 02/01/55 |  | 1250000 |  | 1260725 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.448%, 08/01/54 |  | 850000 |  | 827298 |
| &nbsp;&nbsp;&nbsp;New York State Energy Research & Development Authority, Ser A, RB |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.871%, 04/01/37 |  | 1937000 |  | 1814935 |
| &nbsp;&nbsp;&nbsp;New York Transportation Development, RB |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.971%, 06/30/51 |  | 2500000 |  | 2504339 |
| &nbsp;&nbsp;&nbsp;United Nations Development, Ser A, RB |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.536%, 08/01/55 |  | 400000 |  | 429276 |
|  |  |  |  | 7798316 |

---

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS BOND FUND**

**OCTOBER 31, 2025**

**MUNICIPAL BONDS — continued** 

---

| | | |
|:---|:---|:---|
|  | **Face <br> Amount** | **Value** |
| **Ohio — 0.3%** | **Ohio — 0.3%** | **Ohio — 0.3%** |
| &nbsp;&nbsp;&nbsp;American Municipal Power, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.499%, 02/15/50 | $2320000 | $2747010 |
| &nbsp;&nbsp;&nbsp;American Municipal Power, Sub-Ser, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.449%, 02/15/44 | 1740000 | 1871622 |
| &nbsp;&nbsp;&nbsp;American Municipal Power, Ser E-RMKT, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.270%, 02/15/50 | 730000 | 767016 |
| &nbsp;&nbsp;&nbsp;Toledo-Lucas County Port Authority, Ser D-2, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.850%, 11/15/44 (B) | 1345000 | 1345694 |
|  |  | 6731342 |
| **Oregon — 0.0%** | **Oregon — 0.0%** | **Oregon — 0.0%** |
| &nbsp;&nbsp;&nbsp;State of Oregon, GO | &nbsp;&nbsp;&nbsp;State of Oregon, GO | &nbsp;&nbsp;&nbsp;State of Oregon, GO |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.832%, 05/01/45 | 1000000 | 1053661 |
| **Pennsylvania — 0.0%** | **Pennsylvania — 0.0%** | **Pennsylvania — 0.0%** |
| &nbsp;&nbsp;&nbsp;Redevelopment Authority of the City of Philadelphia, Ser A, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.226%, 09/01/40 | 610000 | 620581 |
| **South Dakota — 0.0%** | **South Dakota — 0.0%** | **South Dakota — 0.0%** |
| &nbsp;&nbsp;&nbsp;South Dakota Housing Development Authority, Ser E, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.460%, 05/01/53 | 245000 | 249094 |
| **Tennessee — 0.0%** | **Tennessee — 0.0%** | **Tennessee — 0.0%** |
| &nbsp;&nbsp;&nbsp;Metropolitan Government of Nashville & Davidson County Tennessee Water & Sewer Revenue, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.942%, 07/01/43 | 500000 | 379413 |
| **Wisconsin — 0.0%** | **Wisconsin — 0.0%** | **Wisconsin — 0.0%** |
| &nbsp;&nbsp;&nbsp;Public Finance Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.250%, 06/01/31 (B) | 500000 | 506814 |
| &nbsp;&nbsp;&nbsp;Public Finance Authority, Ser A, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.292%, 07/01/29 | 550000 | 555804 |
|  |  | 1062618 |
| &nbsp;&nbsp;&nbsp;Total Municipal Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $71,479,623) |  | 71543030 |
| **SOVEREIGN DEBT — 1.3%** | **SOVEREIGN DEBT — 1.3%** | **SOVEREIGN DEBT — 1.3%** |
| **CANADA — 0.6%** | **CANADA — 0.6%** | **CANADA — 0.6%** |
| &nbsp;&nbsp;&nbsp;CDP Financial MTN | &nbsp;&nbsp;&nbsp;CDP Financial MTN | &nbsp;&nbsp;&nbsp;CDP Financial MTN |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.000%, 05/26/26(B) | $2500000 | $2459022 |
| &nbsp;&nbsp;&nbsp;Export Development Canada |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.750%, 06/05/34 | 5000000 | 5243179 |

---

**SOVEREIGN DEBT — continued** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Face <br> Amount** | **Face <br> Amount** | **Value** | **Value** |
| **CANADA — continued** | **CANADA — continued** | **CANADA — continued** | **CANADA — continued** | **CANADA — continued** |
| &nbsp;&nbsp;&nbsp;OMERS Finance Trust |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 04/19/52(B) | $| 3345000 | $| 2638645 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.500%, 04/19/32 |  | 5000000 |  | 4803615 |
|  |  |  |  | 15144461 |
| **DOMINICAN REPUBLIC — 0.0%** | **DOMINICAN REPUBLIC — 0.0%** | **DOMINICAN REPUBLIC — 0.0%** | **DOMINICAN REPUBLIC — 0.0%** | **DOMINICAN REPUBLIC — 0.0%** |
| &nbsp;&nbsp;&nbsp;Dominican Republic International Bond |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.600%, 06/01/36(B) |  | 650000 |  | 685555 |
| **ECUADOR — 0.1%** | **ECUADOR — 0.1%** | **ECUADOR — 0.1%** | **ECUADOR — 0.1%** | **ECUADOR — 0.1%** |
| &nbsp;&nbsp;&nbsp;Amazon Conservation DAC |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.034%, 01/16/42(B) |  | 2000000 |  | 2063600 |
| **FRANCE — 0.1%** | **FRANCE — 0.1%** | **FRANCE — 0.1%** | **FRANCE — 0.1%** | **FRANCE — 0.1%** |
| &nbsp;&nbsp;&nbsp;Caisse d'Amortissement de la Dette Sociale MTN |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.125%, 01/26/32(B) |  | 2500000 |  | 2224566 |
| **IRELAND — 0.2%** | **IRELAND — 0.2%** | **IRELAND — 0.2%** | **IRELAND — 0.2%** | **IRELAND — 0.2%** |
| &nbsp;&nbsp;&nbsp;BB Blue Financing DAC |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.395%, 09/20/37 |  | 2500000 |  | 2446709 |
| &nbsp;&nbsp;&nbsp;GPS Blue Financing DAC |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.645%, 11/09/41(B) |  | 2500000 |  | 2486750 |
|  |  |  |  | 4933459 |
| **JAPAN — 0.1%** | **JAPAN — 0.1%** | **JAPAN — 0.1%** | **JAPAN — 0.1%** | **JAPAN — 0.1%** |
| &nbsp;&nbsp;&nbsp;Japan Bank for International Cooperation |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.375%, 10/05/27 |  | 1000000 |  | 1010374 |
| &nbsp;&nbsp;&nbsp;Japan International Cooperation Agency |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.250%, 05/22/30 |  | 470000 |  | 476412 |
|  |  |  |  | 1486786 |
| **MEXICO — 0.0%** | **MEXICO — 0.0%** | **MEXICO — 0.0%** | **MEXICO — 0.0%** | **MEXICO — 0.0%** |
| &nbsp;&nbsp;&nbsp;Mexico Government International Bond |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.375%, 03/22/33 |  | 860000 |  | 859269 |
| **NETHERLANDS — 0.2%** | **NETHERLANDS — 0.2%** | **NETHERLANDS — 0.2%** | **NETHERLANDS — 0.2%** | **NETHERLANDS — 0.2%** |
| &nbsp;&nbsp;&nbsp;Nederlandse Waterschapsbank |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 01/16/30(B) |  | 1000000 |  | 1026387 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.375%, 02/28/29(B) |  | 500000 |  | 509366 |

---

*The accompanying notes are an integral part of the financial statements.* 

**CATHOLIC RESPONSIBLE INVESTMENTS BOND FUND**

**OCTOBER 31, 2025**

**SOVEREIGN DEBT — continued** 

---

| | | |
|:---|:---|:---|
|  | **Face<br> Amount** | **Value** |
| **NETHERLANDS — continued** | **NETHERLANDS — continued** | **NETHERLANDS — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.000%, 05/28/30(B) | $2500000 | $2206793 |
|  |  | 3742546 |
| **RUSSIA — 0.0%** | **RUSSIA — 0.0%** | **RUSSIA — 0.0%** |
| &nbsp;&nbsp;&nbsp;Serbia International Bond | &nbsp;&nbsp;&nbsp;Serbia International Bond | &nbsp;&nbsp;&nbsp;Serbia International Bond |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 06/12/34(B) | 850000 | 892180 |
| &nbsp;&nbsp;&nbsp;Total Sovereign Debt |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $32,020,231) |  | 32032422 |
| **BANK LOAN OBLIGATIONS — 0.1%** | **BANK LOAN OBLIGATIONS — 0.1%** | **BANK LOAN OBLIGATIONS — 0.1%** |
| **ECOLOGICAL SERVICES & EQUIPMENT — 0.1%** | **ECOLOGICAL SERVICES & EQUIPMENT — 0.1%** | **ECOLOGICAL SERVICES & EQUIPMENT — 0.1%** |
| &nbsp;&nbsp;&nbsp;LTR Intermediate Holdings Term Loan |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.460%, 05/05/28 | $494832 | $494832 |
| &nbsp;&nbsp;&nbsp;Terraform Power Operating Specified Refinancing Term Loan |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.002%, TSFR1M + 2.500%, 05/21/29(A) | 1620917 | 1615520 |

---

**BANK LOAN OBLIGATIONS — continued**

---

| | | |
|:---|:---|:---|
|  | **Face <br> Amount** | **Value** |
| **ECOLOGICAL SERVICES & EQUIPMENT — continued** | **ECOLOGICAL SERVICES & EQUIPMENT — continued** | **ECOLOGICAL SERVICES & EQUIPMENT — continued** |
| &nbsp;&nbsp;&nbsp;Vistra Zero Operating Company Term Loan | &nbsp;&nbsp;&nbsp;Vistra Zero Operating Company Term Loan | &nbsp;&nbsp;&nbsp;Vistra Zero Operating Company Term Loan |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.324%, 03/20/31 | $995000 | $973697 |
|  |  | 3084049 |
| &nbsp;&nbsp;&nbsp;Total Bank Loan Obligations |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $3,060,411) |  | 3084049 |
| **U.S. GOVERNMENT AGENCY OBLIGATION — 0.0%** | **U.S. GOVERNMENT AGENCY OBLIGATION — 0.0%** | **U.S. GOVERNMENT AGENCY OBLIGATION — 0.0%** |
| &nbsp;&nbsp;&nbsp;United States International Development Finance | &nbsp;&nbsp;&nbsp;United States International Development Finance | &nbsp;&nbsp;&nbsp;United States International Development Finance |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.790%, 10/15/29 | $250689 | $239431 |
| &nbsp;&nbsp;&nbsp;Total U.S. Government Agency Obligation |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $240,709) |  | 239431 |

---

**SHORT-TERM INVESTMENT — 0.5%** 

---

| | | |
|:---|:---|:---|
|  | **Shares** | |
| &nbsp;&nbsp;&nbsp;State Street Institutional U.S. Government Money Market Fund, Institutional Class, 4.290%, (H) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $11,907,264) | 11907264 | $11907264 |
| &nbsp;&nbsp;&nbsp;Total Short-Term Investment |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $11,907,264) |  | 11907264 |
| &nbsp;&nbsp;&nbsp;Total Investments in Securities— 98.5% | &nbsp;&nbsp;&nbsp;Total Investments in Securities— 98.5% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $2,468,418,662) |  | $2442319467 |

---

Percentages are based on Net Assets of $2,478,976,315.

A list of the open futures contracts held by the Fund at October 31, 2025, is as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Type of Contract | Number of <br> Contracts | Expiration <br> Date | Notional Amount | Value | Unrealized <br> Appreciation |
| Long Contracts |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;U.S. Ultra Long Treasury Bond | 269 | Dec-2025 | $31398113 | $32624656 | $1226543 |

---

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS BOND FUND**

**OCTOBER 31, 2025**

&nbsp;&nbsp;&nbsp;&nbsp;‡ Real Estate Investment Trust.

&nbsp;&nbsp;&nbsp;&nbsp;(A) Variable or floating rate security.
 The rate shown is the effective interest rate as of period end. The rates for certain securities are not based on published reference
 rates and spreads and are either determined by the issuer or agent based on current market conditions; by using a formula based on the
 rates of underlying loans; or by adjusting periodically based on prevailing interest rates.

&nbsp;&nbsp;&nbsp;&nbsp;(B) Securities sold within the terms of
 a private placement memorandum, exempt from registration under section 144A of the Securities Act of 1933, as amended, and maybe sold
 only to dealers in the program or other "accredited investors". The total value of these securities at October 31, 2025 was $498,054,763
 and represented 20.1% of Net Assets.

&nbsp;&nbsp;&nbsp;&nbsp;(C) This security or a partial position
 of this security is on loan at October 31, 2025. The total market value of securities on loan at October 31, 2025 was $11,652,089.

&nbsp;&nbsp;&nbsp;&nbsp;(D) Perpetual security with no stated maturity
 date.

&nbsp;&nbsp;&nbsp;&nbsp;(E) Step coupon security. Coupon rate will
 either increase (step-up bond) or decrease (step-down bond) at regular intervals until maturity. Interest rate shown reflects the rate
 currently in effect.

&nbsp;&nbsp;&nbsp;&nbsp;(F) Zero coupon security.

&nbsp;&nbsp;&nbsp;&nbsp;(G) No interest rate available.

&nbsp;&nbsp;&nbsp;&nbsp;(H) This security was purchased with cash
 collateral received from securities lending. The total was of such securities as of October 31, 2025, was $11,907,264.

Cl — Class

CLO — Collateralized Loan Obligation

DAC — Designated Activity Company

FHLMC — Federal Home Loan Mortgage Corporation

FNMA — Federal National Mortgage Association

GNMA — Government National Mortgage Association

GO — General Obligation

H15T1Y — US Treasury Yield Curve Rate T Note Constant Mat 1 Year

H15T5Y — US Treasury Yield Curve Rate T Note Constant Mat 5 Year

MTN — Medium Term Note

PJSC — Public Joint Stock Company

REMIC — Real Estate Mortgage Investment Conduit

RFUCCT1Y — Refinitiv USD IBOR Consumer Cash Fallbacks Term 1 Year

RB — Revenue Bond

Ser — Series

SOFR — Secured Overnight Financing Rate

SOFR30A — Secured Overnight Financing Rate 30-day Average

TSFR1M — Term Structured Financing Rate 1 Month Average

TSFR3M — Term Structured Financing Rate 3 Month Average

TSFR12M — Term Structured Financing Rate 12 Month Average

USBMMY3M — U.S. Treasury Bill Money Market Yield 3 Month

USISDA05 — US Mid-Market Swap Rate 5 Year

The following is a summary of the inputs used as of October 31, 2025, in valuing the Fund's investments and other financial instruments carried at market value:

---

| | | | | |
|:---|:---|:---|:---|:---|
| Investments in Securities | Level 1 | Level 2 | Level 3^ | Total |
| U.S. Treasury Obligations | $— | $810837090 | $— | $810837090 |
| Corporate Obligations |  | 681606792 |  | 681606792 |
| Mortgage-Backed Securities |  | 604764753 |  | 604764753 |
| Asset-Backed Securities |  | 224480645 | 1823991 | 226304636 |
| Municipal Bonds |  | 71543030 |  | 71543030 |
| Sovereign Debt |  | 32032422 |  | 32032422 |
| Short-Term Investment | 11907264 |  |  | 11907264 |
| Bank Loan Obligations |  | 3084049 |  | 3084049 |
| U.S. Government Agency Obligation |  | 239431 |  | 239431 |
| Total Investments in Securities | $11907264 | $2428588212 | $1823991 | $2442319467 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| Other Financial Instruments | Level 1 | Level 2 | Level 3 | Total |
| Futures Contracts\* |  |  |  |  |
|  <br> Unrealized Appreciation | $1226543 | $— | $— | $1226543 |
| Total Other Financial Instruments | $1226543 | $— | $— | $1226543 |

---

---

| | |
|:---|:---|
| ^ | A reconciliation of Level 3 investments, including certain disclosures related to significant inputs used in valuing Level 3 investments is only presented when the Fund has over 1% of Level 3 investments at the end of the period in relation to net assets. |

---

\* Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument.

Amounts designated as "—"are $0.

For more information on valuation inputs, see Note 2 — Significant Accounting Policies in the Notes to Financial Statements.

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS OPPORTUNISTIC BOND FUND**

**OCTOBER 31, 2025**

---

| | | |
|:---|:---|:---|
| **SCHEDULE OF INVESTMENTS<br> U.S. TREASURY OBLIGATIONS — 33.1%** | **SCHEDULE OF INVESTMENTS<br> U.S. TREASURY OBLIGATIONS — 33.1%** | **SCHEDULE OF INVESTMENTS<br> U.S. TREASURY OBLIGATIONS — 33.1%** |
|  | **Face<br> Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;U.S. Treasury Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.250%, 08/15/35 | $12450000 | $12605625 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.057%, USBMMY3M + 0.205%, 10/31/26(A) | 32680000 | 32686473 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.012%, USBMMY3M + 0.160%, 04/30/27(A) | 26950000 | 26942278 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.011%, USBMMY3M + 0.159%, 07/31/27(A) | 28620000 | 28614205 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 02/28/30 | 15350000 | 15545473 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.875%, 06/30/30 | 10950000 | 11028275 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.875%, 08/15/34 | 16820000 | 16625519 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.625%, 09/30/30 | 939000 | 935039 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.625%, 10/31/30 | 40790000 | 40638846 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.500%, 10/31/27 | 959000 | 957052 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.500%, 10/15/28 | 4160000 | 4147325 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.375%, 09/15/28 | 3270000 | 3249051 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.625%, 08/15/30 | 55675000 | 48184972 |
| &nbsp;&nbsp;&nbsp;Total U.S. Treasury Obligations |  |  |
| &nbsp;&nbsp;&nbsp;(Cost $241,691,729) |  | 242160133 |
| **CORPORATE OBLIGATIONS — 23.3%** | **CORPORATE OBLIGATIONS — 23.3%** | **CORPORATE OBLIGATIONS — 23.3%** |
| **COMMUNICATION SERVICES — 0.5%** | **COMMUNICATION SERVICES — 0.5%** | **COMMUNICATION SERVICES — 0.5%** |
| &nbsp;&nbsp;&nbsp;Alphabet |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.100%, 08/15/30 | $2500000 | $2191253 |
| &nbsp;&nbsp;&nbsp;Charter Communications Operating |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.100%, 06/01/29 | 810000 | 846748 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.200%, 03/15/28 | 310000 | 308258 |
|  |  | 3346259 |
| **CONSUMER DISCRETIONARY — 0.3%** | **CONSUMER DISCRETIONARY — 0.3%** | **CONSUMER DISCRETIONARY — 0.3%** |
| &nbsp;&nbsp;&nbsp;Ford Motor Credit |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.303%, 09/06/29 | 560000 | 561305 |
| &nbsp;&nbsp;&nbsp;General Motors Financial |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.600%, 06/21/30 | 1625000 | 1557945 |
|  |  | 2119250 |
| **CONSUMER STAPLES — 0.1%** | **CONSUMER STAPLES — 0.1%** | **CONSUMER STAPLES — 0.1%** |
| &nbsp;&nbsp;&nbsp;Coty |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.625%, 07/15/30(B) | 525000 | 537227 |
| **ENERGY — 0.8%** | **ENERGY — 0.8%** | **ENERGY — 0.8%** |
| &nbsp;&nbsp;&nbsp;Expand Energy |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.375%, 03/15/30 | 620000 | 629103 |
| &nbsp;&nbsp;&nbsp;MidAmerican Energy |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.650%, 04/15/29 | 1000000 | 989385 |
| &nbsp;&nbsp;&nbsp;NFE Financing |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12.000%, 11/15/29(B)(C) | 1917600 | 467326 |
| &nbsp;&nbsp;&nbsp;Occidental Petroleum |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.200%, 08/01/29 | 1975000 | 2016306 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **CORPORATE OBLIGATIONS — continued** | **CORPORATE OBLIGATIONS — continued** | **CORPORATE OBLIGATIONS — continued** | **CORPORATE OBLIGATIONS — continued** | **CORPORATE OBLIGATIONS — continued** |
|  | **Face<br> Amount** | **Face<br> Amount** | **Value** | **Value** |
| **ENERGY — continued** | **ENERGY — continued** | **ENERGY — continued** | **ENERGY — continued** | **ENERGY — continued** |
| &nbsp;&nbsp;&nbsp;Patterson-UTI Energy |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.950%, 02/01/28 | $| 1525000 | $| 1496772 |
|  |  |  |  | 5598892 |
| **FINANCIALS — 17.5%** | **FINANCIALS — 17.5%** | **FINANCIALS — 17.5%** | **FINANCIALS — 17.5%** | **FINANCIALS — 17.5%** |
| &nbsp;&nbsp;&nbsp;Aircastle |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 09/15/30(B) |  | 1735000 |  | 1747342 |
| &nbsp;&nbsp;&nbsp;American Express |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.550%, H15T5Y + 2.854%(A)(D) |  | 360000 |  | 353282 |
| &nbsp;&nbsp;&nbsp;Anglo American Capital |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.875%, 03/16/29(B) |  | 200000 |  | 196889 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.625%, 09/10/30(B) |  | 200000 |  | 183795 |
| &nbsp;&nbsp;&nbsp;Arab Petroleum Investments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.428%, 05/02/29(B) |  | 1000000 |  | 1038576 |
| &nbsp;&nbsp;&nbsp;Ares Capital |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.000%, 01/15/27 |  | 240000 |  | 246491 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.875%, 06/15/28 |  | 650000 |  | 618904 |
| &nbsp;&nbsp;&nbsp;Ares Strategic Income Fund |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.700%, 03/15/28 |  | 2105000 |  | 2129527 |
| &nbsp;&nbsp;&nbsp;Asian Development Bank MTN |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.750%, 08/14/26 |  | 1165000 |  | 1146000 |
| &nbsp;&nbsp;&nbsp;Athene Global Funding |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.583%, 01/09/29(B) |  | 2485000 |  | 2556863 |
| &nbsp;&nbsp;&nbsp;Aviation Capital Group |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.375%, 07/15/30(B) |  | 1300000 |  | 1387385 |
| &nbsp;&nbsp;&nbsp;Avolon Holdings Funding |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.375%, 05/30/30(B) |  | 3925000 |  | 4026688 |
| &nbsp;&nbsp;&nbsp;Barclays |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.690%, SOFRRATE + 1.740%, 03/12/30(A) |  | 1910000 |  | 1982429 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.674%, SOFRRATE + 1.490%, 03/12/28(A) |  | 760000 |  | 773969 |
| &nbsp;&nbsp;&nbsp;Blue Owl Capital |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.875%, 06/11/28 |  | 810000 |  | 764883 |
| &nbsp;&nbsp;&nbsp;Blue Owl Credit Income |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.750%, 01/15/29 |  | 955000 |  | 1017254 |
| &nbsp;&nbsp;&nbsp;BNP Paribas |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.176%, SOFRRATE + 1.520%, 01/09/30(A)(B) |  | 2390000 |  | 2447381 |
| &nbsp;&nbsp;&nbsp;Central American Bank for Economic Integration |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 02/09/26(B) |  | 500000 |  | 500680 |
| &nbsp;&nbsp;&nbsp;Charles Schwab |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, H15T5Y + 3.168%(A)(D) |  | 2560000 |  | 2536681 |
| &nbsp;&nbsp;&nbsp;Citibank |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.982%, SOFRRATE + 0.712%, 11/19/27(A) |  | 1500000 |  | 1502826 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.876%, SOFRRATE + 0.712%, 11/19/27(A) |  | 2000000 |  | 2013925 |

---

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS OPPORTUNISTIC BOND FUND**

**OCTOBER 31, 2025**

---

| | | |
|:---|:---|:---|
| **CORPORATE OBLIGATIONS — continued** | **CORPORATE OBLIGATIONS — continued** | **CORPORATE OBLIGATIONS — continued** |
|  | **Face<br> Amount** | **Value** |
| **FINANCIALS — continued** | **FINANCIALS — continued** | **FINANCIALS — continued** |
| &nbsp;&nbsp;&nbsp;Citigroup |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, H15T5Y + 3.597%(A)(D) | $2960000 | $2954142 |
| &nbsp;&nbsp;&nbsp;Citizens Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.575%, SOFRRATE + 2.000%, 08/09/28(A) | 520000 | 523262 |
| &nbsp;&nbsp;&nbsp;Clearinghouse Community Development Financial Institution |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.000%, 10/15/30(B) | 1000000 | 988428 |
| &nbsp;&nbsp;&nbsp;Conservation Fund A Nonprofit |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.474%, 12/15/29 | 3000000 | 2872646 |
| &nbsp;&nbsp;&nbsp;Cooperatieve Rabobank UA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.106%, H15T1Y + 0.550%, 02/24/27(A)(B) | 2000000 | 1980109 |
| &nbsp;&nbsp;&nbsp;Corebridge Financial |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.875%, H15T5Y + 3.846%, 12/15/52(A) | 4123000 | 4222601 |
| &nbsp;&nbsp;&nbsp;Credit Agricole Corporate & Investment Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.570%, 08/25/30 | 2000000 | 1995250 |
| &nbsp;&nbsp;&nbsp;Enel Finance International |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.125%, 06/26/29(B) | 2000000 | 2048605 |
| &nbsp;&nbsp;&nbsp;European Investment Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.250%, 11/15/27 | 700000 | 694516 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.375%, 05/24/27 | 1253000 | 1228130 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.125%, 04/13/26 | 500000 | 495992 |
| &nbsp;&nbsp;&nbsp;Fifth Third Bancorp |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.707%, SOFRRATE + 0.685%, 11/01/27(A) | 503000 | 490064 |
| &nbsp;&nbsp;&nbsp;Foundry JV Holdco |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.900%, 01/25/33(B) | 3000000 | 3156397 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.387%, SOFRRATE + 1.510%, 06/15/27(A) | 1000000 | 1000232 |
| &nbsp;&nbsp;&nbsp;Golub Capital BDC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.500%, 08/24/26 | 1610000 | 1581577 |
| &nbsp;&nbsp;&nbsp;Hanwha Futureproof |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.750%, 04/30/28(B)(C) | 500000 | 508702 |
| &nbsp;&nbsp;&nbsp;Inter-American Development Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.516%, SOFRINDX + 0.280%, 04/12/27(A) | 1000000 | 1000875 |
| &nbsp;&nbsp;&nbsp;Inter-American Investment |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.125%, 02/15/28 | 2500000 | 2518714 |
| &nbsp;&nbsp;&nbsp;International Bank for Reconstruction & Development |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.000%, 03/31/27(E) | 2500000 | 2365069 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.000%, 03/31/28(A)(F) | 1000000 | 983168 |
| &nbsp;&nbsp;&nbsp;International Development Association |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.375%, 11/27/29(B) | 2125000 | 2172815 |

---

---

| | | |
|:---|:---|:---|
| **CORPORATE OBLIGATIONS — continued** | **CORPORATE OBLIGATIONS — continued** | **CORPORATE OBLIGATIONS — continued** |
|  | **Face**<br> **Amount** | **Value** |
| **FINANCIALS — continued** | **FINANCIALS — continued** | **FINANCIALS — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 06/11/30(B) | $450000 | $453734 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.875%, 04/28/26(B) | 1000000 | 984973 |
| &nbsp;&nbsp;&nbsp;International Finance Facility for Immunisation |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.750%, 11/03/25 | 1500000 | 1500000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.125%, 10/29/27 | 1000000 | 1006131 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.000%, 04/21/26 | 1500000 | 1479169 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.070%, SOFRRATE + 1.330%, 10/22/27(A) | 5000000 | 5089382 |
| &nbsp;&nbsp;&nbsp;KEB Hana Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.843%, SOFRRATE + 0.600%, 10/21/28(A)(B) | 425000 | 426070 |
| &nbsp;&nbsp;&nbsp;Kreditanstalt fuer Wiederaufbau |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.750%, 09/14/29 | 1000000 | 930881 |
| &nbsp;&nbsp;&nbsp;Liberty Utilities Finance GP 1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.050%, 09/15/30(B) | 1000000 | 895859 |
| &nbsp;&nbsp;&nbsp;LPL Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.150%, 06/15/30 | 3190000 | 3246690 |
| &nbsp;&nbsp;&nbsp;M&T Bank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.833%, SOFRRATE + 0.930%, 01/16/29(A) | 1000000 | 1012019 |
| &nbsp;&nbsp;&nbsp;Mars |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.650%, 04/20/31(B) | 1000000 | 1017675 |
| &nbsp;&nbsp;&nbsp;National Rural Utilities Cooperative Finance |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.350%, 03/15/31 | 500000 | 429825 |
| &nbsp;&nbsp;&nbsp;NHP Foundation |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.850%, 12/01/28 | 250000 | 260802 |
| &nbsp;&nbsp;&nbsp;Oaktree Strategic Credit Fund |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.400%, 11/14/28 | 1415000 | 1525134 |
| &nbsp;&nbsp;&nbsp;OPEC Fund for International Development |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 01/26/26(B) | 1000000 | 1000535 |
| &nbsp;&nbsp;&nbsp;Prudential Financial |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.700%, US0003M + 2.665%, 09/15/48(A) | 2115000 | 2140640 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.500%, 03/10/26 | 1000000 | 990595 |
| &nbsp;&nbsp;&nbsp;Repsol E&P Capital Markets US |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.204%, 09/16/30(B) | 1000000 | 1002647 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.805%, 09/16/28(B) | 1305000 | 1307742 |
| &nbsp;&nbsp;&nbsp;Santander Holdings USA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.353%, SOFRRATE + 1.940%, 09/06/30(A) | 785000 | 799403 |
| &nbsp;&nbsp;&nbsp;Solar Star Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.375%, 06/30/35(B) | 685651 | 706675 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.950%, 06/30/35(B) | 642821 | 615090 |
| &nbsp;&nbsp;&nbsp;South Bow USA Infrastructure Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.026%, 10/01/29 | 1580000 | 1595603 |

---

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS OPPORTUNISTIC BOND FUND**

**OCTOBER 31, 2025**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **CORPORATE OBLIGATIONS — continued** | **CORPORATE OBLIGATIONS — continued** | **CORPORATE OBLIGATIONS — continued** | **CORPORATE OBLIGATIONS — continued** | **CORPORATE OBLIGATIONS — continued** |
|  | **Face<br> Amount** | **Face<br> Amount** | **Value** | **Value** |
| **FINANCIALS — continued** | **FINANCIALS — continued** | **FINANCIALS — continued** | **FINANCIALS — continued** | **FINANCIALS — continued** |
| &nbsp;&nbsp;&nbsp;Starwood Property Trust |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.250%, 04/01/29‡(B) | $| 500000 | $| 526477 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 04/15/30‡(B) |  | 360000 |  | 367649 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 10/15/28‡(B) |  | 180000 |  | 180627 |
| &nbsp;&nbsp;&nbsp;Toronto-Dominion Bank |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.146%, H15T5Y + 1.500%, 09/10/34(A) |  | 2935000 |  | 2974294 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.568%, 12/17/26 |  | 4820000 |  | 4846434 |
| &nbsp;&nbsp;&nbsp;Truist Bank |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.632%, H15T5Y + 1.150%, 09/17/29(A) |  | 2000000 |  | 2006041 |
| &nbsp;&nbsp;&nbsp;Truist Financial MTN |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.161%, SOFRRATE + 2.446%, 10/30/29(A) |  | 1965000 |  | 2123663 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.950%, H15T5Y + 4.605%(A)(D) |  | 2055000 |  | 2052906 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.267%, SOFRRATE + 0.609%, 03/02/27(A) |  | 1634000 |  | 1617332 |
| &nbsp;&nbsp;&nbsp;UBS Group |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.617%, USISSO01 + 1.340%, 09/13/30(A)(B) |  | 2000000 |  | 2089475 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.125%, H15T5Y + 4.855%(A)(D) |  | 2140000 |  | 2131975 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.875%, H15T5Y + 3.098%(A)(B)(C)(D) |  | 1590000 |  | 1569460 |
| &nbsp;&nbsp;&nbsp;US Bancorp |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.300%, TSFR3M + 3.176%(A)(D) |  | 985000 |  | 985096 |
| &nbsp;&nbsp;&nbsp;USAA Capital |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.125%, 05/01/30(B) |  | 2500000 |  | 2294959 |
| &nbsp;&nbsp;&nbsp;Volkswagen Group of America Finance |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.350%, 03/27/30(B) |  | 2165000 |  | 2219921 |
| &nbsp;&nbsp;&nbsp;Wells Fargo |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.900%, H15T5Y + 3.453%(A)(D) |  | 1160000 |  | 1151387 |
| &nbsp;&nbsp;&nbsp;WLB Asset II D Pte |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.500%, 12/21/26(B) |  | 1000000 |  | 964941 |
| &nbsp;&nbsp;&nbsp;WLB Asset VI Pte |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.250%, 12/21/27(B) |  | 1000000 |  | 1044262 |
| &nbsp;&nbsp;&nbsp;WLB Asset VII Pte |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.880%, 07/30/29(B) |  | 500000 |  | 501689 |
| &nbsp;&nbsp;&nbsp;YMCA of Greater New York |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.184%, 08/01/30 |  | 500000 |  | 502577 |
|  |  |  |  | 127521503 |
| **HEALTH CARE — 0.1%** | **HEALTH CARE — 0.1%** | **HEALTH CARE — 0.1%** | **HEALTH CARE — 0.1%** | **HEALTH CARE — 0.1%** |
| &nbsp;&nbsp;&nbsp;CVS Pass-Through Trust |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.036%, 12/10/28 |  | 892391 |  | 907039 |

---

---

| | | |
|:---|:---|:---|
| **CORPORATE OBLIGATIONS — continued** | **CORPORATE OBLIGATIONS — continued** | **CORPORATE OBLIGATIONS — continued** |
|  | **Face<br> Amount** | **Value** |
| **INDUSTRIALS — 0.7%** | **INDUSTRIALS — 0.7%** | **INDUSTRIALS — 0.7%** |
| &nbsp;&nbsp;&nbsp;Mileage Plan IP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.021%, 10/20/29(B) | $3205000 | $3194511 |
| &nbsp;&nbsp;&nbsp;Norfolk Southern |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.300%, 05/15/31 | 2500000 | 2255055 |
|  |  | 5449566 |
| **INFORMATION TECHNOLOGY — 0.4%** | **INFORMATION TECHNOLOGY — 0.4%** | **INFORMATION TECHNOLOGY — 0.4%** |
| &nbsp;&nbsp;&nbsp;Apple |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 06/20/27 | 1415000 | 1398244 |
| &nbsp;&nbsp;&nbsp;Arrow Electronics |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.150%, 08/21/29 | 1900000 | 1939605 |
|  |  | 3337849 |
| **MATERIALS — 0.5%** | **MATERIALS — 0.5%** | **MATERIALS — 0.5%** |
| &nbsp;&nbsp;&nbsp;Alcoa Nederland Holding BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.125%, 03/15/31(B) | 685000 | 723996 |
| &nbsp;&nbsp;&nbsp;Freeport-McMoRan |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 09/01/29 | 810000 | 822997 |
| &nbsp;&nbsp;&nbsp;LD Celulose International GmbH |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.950%, 01/26/32(B) | 200000 | 210443 |
| &nbsp;&nbsp;&nbsp;Smurfit Kappa Treasury ULC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.200%, 01/15/30 | 2250000 | 2318623 |
|  |  | 4076059 |
| **REAL ESTATE — 0.1%** | **REAL ESTATE — 0.1%** | **REAL ESTATE — 0.1%** |
| &nbsp;&nbsp;&nbsp;ERP Operating |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.150%, 12/01/28‡ | 1000000 | 1002971 |
| **UTILITIES — 2.3%** | **UTILITIES — 2.3%** | **UTILITIES — 2.3%** |
| &nbsp;&nbsp;&nbsp;Avangrid |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.800%, 06/01/29 | 2000000 | 1966131 |
| &nbsp;&nbsp;&nbsp;California Buyer |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.375%, 02/15/32(B) | 675000 | 682021 |
| &nbsp;&nbsp;&nbsp;CenterPoint Energy |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.000%, H15T5Y + 3.254%, 02/15/55(A) | 1500000 | 1569016 |
| &nbsp;&nbsp;&nbsp;Comision Federal de Electricidad |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.700%, 01/24/30(B) | 525000 | 530503 |
| &nbsp;&nbsp;&nbsp;Consumers 2023 Securitization Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.550%, 03/01/28 | 430798 | 437028 |
| &nbsp;&nbsp;&nbsp;Continental Wind |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 02/28/33(B) | 846145 | 867568 |
| &nbsp;&nbsp;&nbsp;NextEra Energy Capital Holdings |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.700%, H15T5Y + 2.364%, 09/01/54(A) | 3008000 | 3128452 |
| &nbsp;&nbsp;&nbsp;NextEra Energy Operating Partners |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.250%, 01/15/29(B)(C) | 1016000 | 1044990 |
| &nbsp;&nbsp;&nbsp;PG&E Recovery Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.838%, 06/01/33 | 2296670 | 2338002 |
| &nbsp;&nbsp;&nbsp;San Diego Gas & Electric |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.950%, 08/15/28 | 1000000 | 1022727 |

---

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS OPPORTUNISTIC BOND FUND**

**OCTOBER 31, 2025**

---

| | | |
|:---|:---|:---|
| **CORPORATE OBLIGATIONS — continued** | **CORPORATE OBLIGATIONS — continued** | **CORPORATE OBLIGATIONS — continued** |
|  | **Face<br> Amount** | **Value** |
| **UTILITIES — continued** | **UTILITIES — continued** | **UTILITIES — continued** |
| &nbsp;&nbsp;&nbsp;Sempra |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.625%, H15T5Y + 2.354%, 04/01/55(A) | $2029000 | $2061472 |
| &nbsp;&nbsp;&nbsp;Southern Power |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.900%, 01/15/26 | 880000 | 874072 |
|  |  | 16521982 |
| &nbsp;&nbsp;&nbsp;Total Corporate Obligations |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $169,845,538) |  | 170418597 |
| **MORTGAGE-BACKED SECURITIES — 19.2%** | **MORTGAGE-BACKED SECURITIES — 19.2%** | **MORTGAGE-BACKED SECURITIES — 19.2%** |
| **Agency Mortgage-Backed Obligations — 8.1%** | **Agency Mortgage-Backed Obligations — 8.1%** | **Agency Mortgage-Backed Obligations — 8.1%** |
| &nbsp;&nbsp;&nbsp;FHLMC Multiclass Certificates, Ser 2024-P016, Cl A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.615%, 09/25/33 (A) | $2500000 | $2527087 |
| &nbsp;&nbsp;&nbsp;FHLMC Multifamily ML Certificates, Ser 2023-ML18, Cl XCA, IO |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.439%, 09/25/37 (A) | 23051654 | 2428446 |
| &nbsp;&nbsp;&nbsp;FNMA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.136%, 07/01/29 (A) | 1000000 | 1017338 |
| &nbsp;&nbsp;&nbsp;GNMA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 12/20/54 | 3602366 | 3670214 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 09/20/54 | 7434456 | 7580367 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 07/20/54 | 7688949 | 7844746 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 06/20/54 | 3181583 | 3246942 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 05/20/54 | 3475064 | 3547424 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 04/20/54 | 5872765 | 5998346 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 02/20/54 | 2156691 | 2204621 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 12/20/53 | 4450292 | 4551693 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 11/20/53 | 5357110 | 5490602 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.000%, 10/20/53 | 4436428 | 4538754 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.500%, 09/20/54 | 522081 | 527199 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 02/20/53 | 542632 | 543655 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, 11/20/52 | 694804 | 696688 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 12/20/52 | 764465 | 751050 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 10/20/52 | 358670 | 352542 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 08/20/52 | 317056 | 311787 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 09/20/52 | 856769 | 816592 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.500%, 12/20/52 | 203245 | 186466 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.500%, 04/20/52 | 538291 | 495727 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 12/20/51 | 418348 | 376462 |
|  |  | 59704748 |
| **Non-Agency Mortgage-Backed Obligations — 11.1%** | **Non-Agency Mortgage-Backed Obligations — 11.1%** | **Non-Agency Mortgage-Backed Obligations — 11.1%** |
| &nbsp;&nbsp;&nbsp;Aventura Mall Trust, Ser AVM, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.112%, 07/05/40 (A)(B) | 1200000 | 1159683 |
| &nbsp;&nbsp;&nbsp;BBCMS Mortgage Trust, Ser 2018-TALL, Cl A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.952%, TSFR1M + 0.919%, 03/15/37 (A)(B) | 1670000 | 1573975 |

---

---

| | | |
|:---|:---|:---|
| **MORTGAGE-BACKED SECURITIES — continued** | **MORTGAGE-BACKED SECURITIES — continued** | **MORTGAGE-BACKED SECURITIES — continued** |
|  | **Face<br> Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;BBCMS Mortgage Trust, Ser 2018-TALL, Cl C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.351%, TSFR1M + 1.318%, 03/15/37 (A)(B) | $2400000 | $2184000 |
| &nbsp;&nbsp;&nbsp;BBCMS Mortgage Trust, Ser 2024-5C25, Cl C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.643%, 03/15/57 (A) | 925000 | 947437 |
| &nbsp;&nbsp;&nbsp;BBCMS Mortgage Trust, Ser CHRS, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.267%, 08/05/38 (A)(B) | 1500000 | 1347816 |
| &nbsp;&nbsp;&nbsp;BBCMS Mortgage Trust, Ser TALL, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.679%, TSFR1M + 1.646%, 03/15/37 (A)(B) | 1000000 | 890000 |
| &nbsp;&nbsp;&nbsp;BBCMS Trust, Ser SRCH, Cl B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.498%, 08/10/35 (B) | 1000000 | 968093 |
| &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust, Ser V13, Cl C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.908%, 02/15/58 (A) | 1750000 | 1763401 |
| &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust, Ser V15, Cl C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.268%, 06/15/58 | 410000 | 417905 |
| &nbsp;&nbsp;&nbsp;Benchmark Mortgage Trust, Ser V6, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 03/15/57 | 1200000 | 1082567 |
| &nbsp;&nbsp;&nbsp;BMO Mortgage Trust, Ser 2023-C7, Cl C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.123%, 12/15/56 (A) | 250000 | 264755 |
| &nbsp;&nbsp;&nbsp;BMO Mortgage Trust, Ser 5C5, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 02/15/57 (B) | 1400000 | 1246815 |
| &nbsp;&nbsp;&nbsp;BMO Mortgage Trust, Ser 5C8, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, 12/15/57 (B) | 1200000 | 1078858 |
| &nbsp;&nbsp;&nbsp;BPR Trust, Ser 2023-BRK2, Cl A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.899%, 10/05/38 (A)(B) | 2100000 | 2195234 |
| &nbsp;&nbsp;&nbsp;BPR Trust, Ser 2023-BRK2, Cl C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.335%, 10/05/38 (A)(B) | 1500000 | 1559617 |
| &nbsp;&nbsp;&nbsp;BX Commercial Mortgage Trust, Ser 2021-VOLT, Cl C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.247%, TSFR1M + 1.214%, 09/15/36 (A)(B) | 1211035 | 1210287 |
| &nbsp;&nbsp;&nbsp;BX Commercial Mortgage Trust, Ser 2022-AHP, Cl AS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.522%, TSFR1M + 1.490%, 01/17/39 (A)(B) | 2500000 | 2496094 |
| &nbsp;&nbsp;&nbsp;BX Trust, Ser 2022-CLS, Cl B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.300%, 10/13/27 (B) | 2200000 | 2214828 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cantor Commercial Real Estate Lending, Ser 2019-CF2, Cl E |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.500%, 11/15/52 (B) | 2000000 | 1498546 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Century Plaza Towers, Ser 2019-CPT, Cl A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.865%, 11/13/39 (B) | 530000 | 488851 |

---

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS OPPORTUNISTIC BOND FUND**

**OCTOBER 31, 2025**

---

| | | |
|:---|:---|:---|
| **MORTGAGE-BACKED SECURITIES — continued** | **MORTGAGE-BACKED SECURITIES — continued** | **MORTGAGE-BACKED SECURITIES — continued** |
|  | **Face<br> Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;Century Plaza Towers, Ser 2019-CPT, Cl B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.997%, 11/13/39 (A)(B) | $1000000 | $913361 |
| &nbsp;&nbsp;&nbsp;CFCRE Commercial Mortgage Trust, Ser 2016-C6, Cl AM |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.502%, 11/10/49 (A) | 3005000 | 2920953 |
| &nbsp;&nbsp;&nbsp;CHI Commercial Mortgage Trust, Ser SFT, Cl A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.482%, 04/15/42 (A)(B) | 500000 | 512842 |
| &nbsp;&nbsp;&nbsp;CHI Commercial Mortgage Trust, Ser SFT, Cl XA, IO |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.300%, 04/15/42 (A)(B) | 1975000 | 18684 |
| &nbsp;&nbsp;&nbsp;CHNGE Mortgage Trust, Ser 2022-NQM1, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.820%, 06/25/67 (B)(G) | 695382 | 693333 |
| &nbsp;&nbsp;&nbsp;Citigroup Commercial Mortgage Trust, Ser 2016-P6, Cl AS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.032%, 12/10/49 (A) | 1400000 | 1334026 |
| &nbsp;&nbsp;&nbsp;COMM Mortgage Trust, Ser 2022-HC, Cl A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.819%, 01/10/39 (B) | 386000 | 370474 |
| &nbsp;&nbsp;&nbsp;COMM Mortgage Trust, Ser 2022-HC, Cl C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.376%, 01/10/39 (B) | 500000 | 472201 |
| &nbsp;&nbsp;&nbsp;CSAIL Commercial Mortgage Trust, Ser C20, Cl C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.707%, 03/15/54 (A) | 1200000 | 1021014 |
| &nbsp;&nbsp;&nbsp;CSMC OA, Ser 2014-USA, Cl A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.953%, 09/15/37 (B) | 1000000 | 910625 |
| &nbsp;&nbsp;&nbsp;DLIC Re-REMIC Trust, Ser FRR1, Cl CK57 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.274%, 08/25/49 (A)(B) | 1565000 | 1509957 |
| &nbsp;&nbsp;&nbsp;Fashion Show Mall, Ser SHOW, Cl C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.074%, 10/10/41 (A)(B) | 2300000 | 2314093 |
| &nbsp;&nbsp;&nbsp;FIVE Mortgage Trust, Ser 2023-V1, Cl C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.296%, 02/10/56 (A) | 2223000 | 2242850 |
| &nbsp;&nbsp;&nbsp;FIVE Mortgage Trust, Ser V1, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.296%, 02/10/56 (A)(B) | 384000 | 366773 |
| &nbsp;&nbsp;&nbsp;GAM RE-REMIC Trust, Ser 2021-FRR2, Cl AK74, PO |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.000%, 09/27/51 (B) | 1500000 | 1325422 |
| &nbsp;&nbsp;&nbsp;GS Mortgage Securities II, Ser 2012-BWTR, Cl A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.954%, 11/05/34 (B) | 1669611 | 1446589 |
| &nbsp;&nbsp;&nbsp;Hudson Yards Mortgage Trust, Ser 2016-10HY, Cl A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.835%, 08/10/38 (B) | 1000000 | 984173 |
| &nbsp;&nbsp;&nbsp;Hudson Yards Mortgage Trust, Ser 2019-55HY, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.943%, 12/10/41 (A)(B) | 1500000 | 1346205 |

---

---

| | | |
|:---|:---|:---|
| **MORTGAGE-BACKED SECURITIES — continued** | **MORTGAGE-BACKED SECURITIES — continued** | **MORTGAGE-BACKED SECURITIES — continued** |
|  | **Face<br> Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;Hudson Yards Mortgage Trust, Ser SPRL, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.340%, 01/13/40 (A)(B) | $2000000 | $2077073 |
| &nbsp;&nbsp;&nbsp;JPMBB Commercial Mortgage Securities Trust, Ser 2015-C28, Cl C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.283%, 10/15/48 (A) | 297770 | 293315 |
| &nbsp;&nbsp;&nbsp;JPMDB Commercial Mortgage Securities Trust, Ser 2017-C5, Cl AS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.858%, 03/15/50 (A) | 2340000 | 2142885 |
| &nbsp;&nbsp;&nbsp;Life Mortgage Trust, Ser 2021-BMR, Cl C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.247%, TSFR1M + 1.214%, 03/15/38 (A)(B) | 80100 | 79699 |
| &nbsp;&nbsp;&nbsp;MAD Commercial Mortgage Trust, Ser 11MD, Cl C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.631%, 10/15/42 (A)(B) | 2730000 | 2748202 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley Capital I Trust, Ser 2018-L1, Cl C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.794%, 10/15/51 (A) | 2455000 | 2266416 |
| &nbsp;&nbsp;&nbsp;MSWF Commercial Mortgage Trust, Ser 1, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 05/15/56 (B) | 1550000 | 1214342 |
| &nbsp;&nbsp;&nbsp;NJ Trust, Ser GSP, Cl A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.481%, 01/06/29 (A)(B) | 1500000 | 1571051 |
| &nbsp;&nbsp;&nbsp;NYMT Loan Trust Series, Ser 2024-BPL2, Cl A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.509%, 05/25/39 (B)(G) | 1580000 | 1593748 |
| &nbsp;&nbsp;&nbsp;One Bryant Park Trust, Ser 2019-OBP, Cl A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.516%, 09/15/54 (B) | 1000000 | 922397 |
| &nbsp;&nbsp;&nbsp;OWS Real Estate Finance, Ser MARG2, Cl A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.033%, TSFR1M + 4.000%, 08/15/34 (A)(B) | 2310000 | 2309972 |
| &nbsp;&nbsp;&nbsp;RFM Reremic Trust, Ser FRR1, Cl AK55, PO |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.000%, 03/28/49 (B) | 1640000 | 1605188 |
| &nbsp;&nbsp;&nbsp;RFM Reremic Trust, Ser FRR1, Cl AK64 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.775%, 03/01/50 (A)(B) | 2100000 | 1994305 |
| &nbsp;&nbsp;&nbsp;RIDE Trust, Ser SHRE, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.747%, 02/14/47 (A)(B) | 1310000 | 1341379 |
| &nbsp;&nbsp;&nbsp;SFAVE Commercial Mortgage Securities Trust, Ser 2015-5AVE, Cl A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.872%, 01/05/43 (A)(B) | 802500 | 690850 |
| &nbsp;&nbsp;&nbsp;STWD Mortgage Trust, Ser 2021-LIH, Cl AS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.404%, TSFR1M + 1.371%, 11/15/36 (A)(B) | 715000 | 714115 |

---

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS OPPORTUNISTIC BOND FUND**

**OCTOBER 31, 2025**

---

| | | |
|:---|:---|:---|
| **MORTGAGE-BACKED SECURITIES — continued** | **MORTGAGE-BACKED SECURITIES — continued** | **MORTGAGE-BACKED SECURITIES — continued** |
|  | **Face<br> Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;STWD Mortgage Trust, Ser 2021-LIH, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.452%, TSFR1M + 2.419%, 11/15/36 (A)(B) | $450000 | $449165 |
| &nbsp;&nbsp;&nbsp;SUMIT Mortgage Trust, Ser 2022-BVUE, Cl A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.789%, 02/12/41 (B) | 660000 | 595029 |
| &nbsp;&nbsp;&nbsp;UBS Commercial Mortgage Trust, Ser 2017-C3, Cl C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.356%, 08/15/50 (A) | 1500000 | 1395471 |
| &nbsp;&nbsp;&nbsp;Verus Securitization Trust, Ser 2021-1, Cl A1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.815%, 01/25/66 (A)(B) | 541598 | 487640 |
| &nbsp;&nbsp;&nbsp;Verus Securitization Trust, Ser 2025-3, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.928%, 05/25/70 (B)(G) | 1663492 | 1675173 |
| &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust, Ser 2016-C35, Cl C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.176%, 07/15/48 (A) | 2000000 | 1964608 |
| &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust, Ser 2019-C49, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.000%, 03/15/52 (B) | 1500000 | 1301509 |
| &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust, Ser 2024-SVEN, Cl A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.011%, 06/10/37 (B) | 1500000 | 1557908 |
| &nbsp;&nbsp;&nbsp;Wells Fargo Commercial Mortgage Trust, Ser 609M, Cl A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.575%, TSFR1M + 1.542%, 08/15/42 (A)(B) | 500000 | 499375 |
|  |  | 80783152 |
| &nbsp;&nbsp;&nbsp;Total Mortgage-Backed Securities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $137,243,485) |  | 140487900 |
| **ASSET-BACKED SECURITIES — 18.9%** | **ASSET-BACKED SECURITIES — 18.9%** | **ASSET-BACKED SECURITIES — 18.9%** |
| **Automotive — 8.5%** | **Automotive — 8.5%** | **Automotive — 8.5%** |
| &nbsp;&nbsp;&nbsp;American Credit Acceptance Receivables Trust, Ser 2023-1, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.350%, 04/12/29 (B) | $2345000 | $2369380 |
| &nbsp;&nbsp;&nbsp;American Credit Acceptance Receivables Trust, Ser 2023-3, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.820%, 10/12/29 (B) | 1450000 | 1478083 |
| &nbsp;&nbsp;&nbsp;American Credit Acceptance Receivables Trust, Ser 2024-1, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.860%, 05/13/30 (B) | 1630000 | 1650090 |

---

---

| | | |
|:---|:---|:---|
| **ASSET-BACKED SECURITIES — continued** | **ASSET-BACKED SECURITIES — continued** | **ASSET-BACKED SECURITIES — continued** |
|  | **Face<br> Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;American Credit Acceptance Receivables Trust, Ser 2025-4, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, 09/12/31 (B) | $1515000 | $1513848 |
| &nbsp;&nbsp;&nbsp;Bridgecrest Lending Auto Securitization Trust, Ser 2025-2, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.620%, 03/17/31 | 3055000 | 3075833 |
| &nbsp;&nbsp;&nbsp;Carvana Auto Receivables Trust, Ser 2021-N2, Cl C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.070%, 03/10/28 | 105454 | 102793 |
| &nbsp;&nbsp;&nbsp;Consumer Portfolio Services Auto Trust, Ser 2025-A, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.660%, 04/15/31 (B) | 3520000 | 3558412 |
| &nbsp;&nbsp;&nbsp;CPS Auto Receivables Trust, Ser 2022-C, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.450%, 04/15/30 (B) | 500000 | 503775 |
| &nbsp;&nbsp;&nbsp;CPS Auto Receivables Trust, Ser 2023-A, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.440%, 04/16/29 (B) | 1800000 | 1829453 |
| &nbsp;&nbsp;&nbsp;CPS Auto Receivables Trust, Ser 2023-B, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.340%, 07/16/29 (B) | 1955000 | 1992990 |
| &nbsp;&nbsp;&nbsp;CPS Auto Receivables Trust, Ser 2023-D, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.800%, 01/15/30 (B) | 3555000 | 3707006 |
| &nbsp;&nbsp;&nbsp;Drive Auto Receivables Trust, Ser 2025-2, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.900%, 12/15/32 | 1460000 | 1446551 |
| &nbsp;&nbsp;&nbsp;Drive Auto Receivables Trust, Ser 2025-S1, Cl R2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.260%, 06/16/29 (B) | 1887756 | 1896535 |
| &nbsp;&nbsp;&nbsp;Exeter Automobile Receivables Trust, Ser 2021-2A, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.400%, 04/15/27 | 426879 | 423392 |
| &nbsp;&nbsp;&nbsp;Exeter Automobile Receivables Trust, Ser 2021-2A, Cl E |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.900%, 07/17/28 (B) | 1190000 | 1182830 |
| &nbsp;&nbsp;&nbsp;Exeter Automobile Receivables Trust, Ser 2022-6A, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.030%, 04/06/29 | 3950000 | 4049833 |
| &nbsp;&nbsp;&nbsp;Exeter Automobile Receivables Trust, Ser 2023-1A, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.690%, 06/15/29 | 1680000 | 1706457 |
| &nbsp;&nbsp;&nbsp;Exeter Automobile Receivables Trust, Ser 2024-1A, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.840%, 06/17/30 | 1005000 | 1018280 |
| &nbsp;&nbsp;&nbsp;Exeter Automobile Receivables Trust, Ser 2024-5A, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.060%, 02/18/31 | 1110000 | 1110740 |
| &nbsp;&nbsp;&nbsp;Exeter Automobile Receivables Trust, Ser 2025-3A, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.570%, 10/15/31 | 2040000 | 2054973 |

---

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS OPPORTUNISTIC BOND FUND**

**OCTOBER 31, 2025**

---

| | | |
|:---|:---|:---|
| **ASSET-BACKED SECURITIES — continued** | **ASSET-BACKED SECURITIES — continued** | **ASSET-BACKED SECURITIES — continued** |
|  | **Face<br> Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;Flagship Credit Auto Trust, Ser 2022-1, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.640%, 03/15/28 (B) | $1000000 | $934453 |
| &nbsp;&nbsp;&nbsp;GLS Auto Receivables Issuer Trust, Ser 2021-1A, Cl E |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.140%, 01/18/28 (B) | 1571564 | 1570339 |
| &nbsp;&nbsp;&nbsp;GLS Auto Receivables Issuer Trust, Ser 2022-3A, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.420%, 06/15/28 (B) | 500000 | 505593 |
| &nbsp;&nbsp;&nbsp;GLS Auto Receivables Issuer Trust, Ser 2023-2A, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.310%, 03/15/29 (B) | 430000 | 440139 |
| &nbsp;&nbsp;&nbsp;GLS Auto Receivables Issuer Trust, Ser 2025-2A, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.590%, 01/15/31 (B) | 1001000 | 1010503 |
| &nbsp;&nbsp;&nbsp;Octane Receivables Trust, Ser 2023-1A, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.760%, 03/20/30 (B) | 1080000 | 1119144 |
| &nbsp;&nbsp;&nbsp;Octane Receivables Trust, Ser 2023-2A, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.380%, 06/20/31 (B) | 3779000 | 3916436 |
| &nbsp;&nbsp;&nbsp;Octane Receivables Trust, Ser 2023-3A, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.580%, 09/20/29 (B) | 1000000 | 1040555 |
| &nbsp;&nbsp;&nbsp;Octane Receivables Trust, Ser 2024-1A, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.430%, 10/21/30 (B) | 1295000 | 1326097 |
| &nbsp;&nbsp;&nbsp;Octane Receivables Trust, Ser 2024-RPT1, Cl R1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.680%, 02/22/30 | 3875000 | 3874982 |
| &nbsp;&nbsp;&nbsp;Santander Drive Auto Receivables Trust, Ser 2023-S1, Cl R1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.140%, 04/18/28 (B) | 613397 | 613923 |
| &nbsp;&nbsp;&nbsp;Santander Drive Auto Receivables Trust, Ser 2024-S2, Cl R1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.800%, 12/16/28 (B) | 1955697 | 1955510 |
| &nbsp;&nbsp;&nbsp;Santander Drive Auto Receivables Trust, Ser 2025-1, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.430%, 03/17/31 | 600000 | 605288 |
| &nbsp;&nbsp;&nbsp;Tesla Auto Lease Trust, Ser 2024-A, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.300%, 06/21/27 (B) | 807831 | 810286 |
| &nbsp;&nbsp;&nbsp;Tesla Auto Lease Trust, Ser 2024-B, Cl A2A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.790%, 01/20/27 (B) | 399836 | 400124 |
| &nbsp;&nbsp;&nbsp;Tesla Auto Lease Trust, Ser 2024-B, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.820%, 10/20/27 (B) | 1000000 | 1003828 |
| &nbsp;&nbsp;&nbsp;Tesla Electric Vehicle Trust, Ser 2023-1, Cl A3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.380%, 06/20/28 (B) | 600000 | 604471 |

---

---

| | | | |
|:---|:---|:---|:---|
| **ASSET-BACKED SECURITIES — continued** | **ASSET-BACKED SECURITIES — continued** | **ASSET-BACKED SECURITIES — continued** | **ASSET-BACKED SECURITIES — continued** |
|  | **Face<br> Amount** | **Face<br> Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;Tesla Sustainable Energy Trust, Ser 2024-1A, Cl A3 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.290%, 06/20/50 (B) | $| 865000 | 867556 |
| &nbsp;&nbsp;&nbsp;Westlake Automobile Receivables Trust, Ser 2024-1A, Cl D |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.020%, 10/15/29 (B) |  | 1685000 | 1713159 |
| &nbsp;&nbsp;&nbsp;Westlake Automobile Receivables Trust, Ser 2025-1A, Cl D |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.540%, 11/15/30 (B) |  | 1435000 | 1455098 |
|  |  |  | 62438738 |
| **Other Asset-Backed Securities — 10.4%** | **Other Asset-Backed Securities — 10.4%** | **Other Asset-Backed Securities — 10.4%** | **Other Asset-Backed Securities — 10.4%** |
| &nbsp;&nbsp;&nbsp;Affirm Asset Securitization Trust, Ser 2024-X2, Cl D |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.080%, 12/17/29 (B) |  | 710000 | 715209 |
| &nbsp;&nbsp;&nbsp;Affirm Asset Securitization Trust, Ser 2025-X1, Cl D |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.110%, 04/15/30 (B) |  | 1215000 | 1218378 |
| &nbsp;&nbsp;&nbsp;AGL CLO 11, Ser 2025-11A, Cl CR |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.914%, TSFR3M + 1.950%, 10/15/38 (A)(B) |  | 1655000 | 1652809 |
| &nbsp;&nbsp;&nbsp;AGL CLO 13, Ser 2025-13A, Cl CR |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.684%, TSFR3M + 1.800%, 10/20/34 (A)(B) |  | 1765000 | 1762746 |
| &nbsp;&nbsp;&nbsp;AGL CLO 16, Ser 2025-16A, Cl DR |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.284%, TSFR3M + 2.400%, 01/20/35 (A)(B) |  | 3100000 | 3072162 |
| &nbsp;&nbsp;&nbsp;Barings Private Credit CLO, Ser 2024-1A, Cl A1AR |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.535%, TSFR3M + 1.630%, 10/15/36 (A)(B) |  | 3255000 | 3247488 |
| &nbsp;&nbsp;&nbsp;Cajun Global, Ser 2021-1, Cl A2 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.931%, 11/20/51 (B) |  | 1443750 | 1423056 |
| &nbsp;&nbsp;&nbsp;CIFC Funding, Ser 2025-3A, Cl CR2 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.694%, TSFR3M + 1.800%, 01/16/38 (A)(B) |  | 895000 | 893852 |
| &nbsp;&nbsp;&nbsp;CLI Funding VI, Ser 2020-1A, Cl A |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.080%, 09/18/45 (B) |  | 972806 | 913515 |
| &nbsp;&nbsp;&nbsp;Commonbond Student Loan Trust, Ser 2021-AGS, Cl B |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.400%, 03/25/52 (B) |  | 379217 | 294284 |
| &nbsp;&nbsp;&nbsp;Consumer Portfolio Services Auto Trust, Ser 2025-B, Cl D |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.560%, 07/15/31 (B) |  | 2940000 | 2963472 |
| &nbsp;&nbsp;&nbsp;Consumer Portfolio Services Auto Trust, Ser 2025-D, Cl D |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.450%, 02/17/32 (B) |  | 1035000 | 1036027 |

---

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS OPPORTUNISTIC BOND FUND**

**OCTOBER 31, 2025**

---

| | | |
|:---|:---|:---|
| **ASSET-BACKED SECURITIES — continued** | **ASSET-BACKED SECURITIES — continued** | **ASSET-BACKED SECURITIES — continued** |
|  | **Face<br> Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;EnFin Residential Solar Receivables Trust, Ser 2024-2A, Cl A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.980%, 09/20/55 (B) | $1814355 | $1739440 |
| &nbsp;&nbsp;&nbsp;Foundation Finance Trust, Ser 2023-2A, Cl C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.310%, 06/15/49 (B) | 1330662 | 1386058 |
| &nbsp;&nbsp;&nbsp;Frontier Issuer, Ser 2023-1, Cl A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.600%, 08/20/53 (B) | 1000000 | 1012422 |
| &nbsp;&nbsp;&nbsp;Frontier Issuer, Ser 2023-1, Cl C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11.500%, 08/20/53 (B) | 1000000 | 1037097 |
| &nbsp;&nbsp;&nbsp;Frontier Issuer, Ser 2024-1, Cl A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.190%, 06/20/54 (B) | 300000 | 308955 |
| &nbsp;&nbsp;&nbsp;Golub Capital Partners Clo 45M, Ser 2024-45A, Cl A1R |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.504%, TSFR3M + 1.620%, 07/20/37 (A)(B) | 3400000 | 3395145 |
| &nbsp;&nbsp;&nbsp;Golub Capital Partners Clo 47M, Ser 2024-47A, Cl A1AR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.941%, TSFR3M + 1.620%, 08/05/37 (A)(B) | 1385000 | 1381195 |
| &nbsp;&nbsp;&nbsp;Golub Capital Partners CLO, Ser 2025-78A, Cl C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.870%, TSFR3M + 2.000%, 04/21/39 (A)(B) | 1230000 | 1207075 |
| &nbsp;&nbsp;&nbsp;Guggenheim MM CLO, Ser 2021-3A, Cl A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.682%, TSFR3M + 1.812%, 01/21/34 (A)(B) | 3060000 | 3058008 |
| &nbsp;&nbsp;&nbsp;Hardee's Funding, Ser 2021-1A, Cl A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.865%, 06/20/51 (B) | 1316563 | 1225107 |
| &nbsp;&nbsp;&nbsp;Home Equity Loan Trust, Ser 2006-HSA2, Cl AI3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.442%, 03/25/36 (A) | 40889 | 761 |
| &nbsp;&nbsp;&nbsp;Hotwire Funding, Ser 2024-1A, Cl A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.893%, 06/20/54 (B) | 500000 | 507632 |
| &nbsp;&nbsp;&nbsp;Jersey Mike's Funding, Ser 2019-1A, Cl A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.433%, 02/15/50 (B) | 1625250 | 1619908 |
| &nbsp;&nbsp;&nbsp;Madison Park Funding XXXVI, Ser 2025-36A, Cl D1RR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.455%, TSFR3M + 2.550%, 04/15/35 (A)(B) | 6000000 | 5930520 |
| &nbsp;&nbsp;&nbsp;MetroNet Infrastructure Issuer, Ser 2025-2A, Cl A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.400%, 08/20/55 (B) | 1935000 | 1957374 |
| &nbsp;&nbsp;&nbsp;Mosaic Solar Loan Trust, Ser 2022-1A, Cl B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.160%, 01/20/53 (B) | 973749 | 703696 |

---

---

| | | |
|:---|:---|:---|
| **ASSET-BACKED SECURITIES — continued** | **ASSET-BACKED SECURITIES — continued** | **ASSET-BACKED SECURITIES — continued** |
|  | **Face<br> Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;Mosaic Solar Loan Trust, Ser 2023-2A, Cl C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.180%, 09/22/53 (B) | $1000000 | $367186 |
| &nbsp;&nbsp;&nbsp;MVW Owner Trust, Ser 2024-1A, Cl C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.200%, 02/20/43 (B) | 708763 | 721260 |
| &nbsp;&nbsp;&nbsp;MVW Owner Trust, Ser 2024-2A, Cl C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.920%, 03/20/42 (B) | 518807 | 510847 |
| &nbsp;&nbsp;&nbsp;Neuberger Berman Loan Advisers CLO 35, Ser 2025-35A, Cl DR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.034%, TSFR3M + 3.150%, 01/19/33 (A)(B) | 3200000 | 3188009 |
| &nbsp;&nbsp;&nbsp;Octagon Investment Partners 26, Ser 2018-1A, Cl CR |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.966%, TSFR3M + 2.062%, 07/15/30 (A)(B) | 1000000 | 1001600 |
| &nbsp;&nbsp;&nbsp;Pagaya AI Debt Grantor Trust And Pagaya AI Debt Trust, Ser 2024-6, Cl C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.068%, 11/15/31 (B) | 1239467 | 1249490 |
| &nbsp;&nbsp;&nbsp;Pagaya AI Debt Grantor Trust, Ser 2024-11, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.307%, 07/15/32 (B) | 944189 | 950104 |
| &nbsp;&nbsp;&nbsp;Pagaya AI Debt Grantor Trust, Ser 2024-9, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.174%, 03/15/32 (B) | 1141123 | 1147247 |
| &nbsp;&nbsp;&nbsp;Pagaya AI Debt Grantor Trust, Ser 2025-3, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.988%, 12/15/32 (B) | 959806 | 973939 |
| &nbsp;&nbsp;&nbsp;Pagaya AI Debt Grantor Trust, Ser 2025-5, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.865%, 03/15/33 (B) | 720000 | 721790 |
| &nbsp;&nbsp;&nbsp;Pagaya AI Debt Grantor Trust, Ser 2025-R2, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.802%, 10/15/32 (B) | 2510000 | 2510509 |
| &nbsp;&nbsp;&nbsp;Pagaya AI Debt Trust, Ser 2024-10, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.429%, 06/15/32 (B) | 996956 | 1003964 |
| &nbsp;&nbsp;&nbsp;Pagaya AI Debt Trust, Ser 2024-3, Cl C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.297%, 10/15/31 (B) | 1094824 | 1103159 |
| &nbsp;&nbsp;&nbsp;Pagaya AI Debt Trust, Ser 2025-1, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.282%, 07/15/32 (B) | 1019913 | 1024422 |
| &nbsp;&nbsp;&nbsp;Pagaya AI Debt Trust, Ser 2025-4, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.572%, 01/17/33 (B) | 1120000 | 1128320 |
| &nbsp;&nbsp;&nbsp;Pagaya Point of Sale Holdings Grantor Trust, Ser 2025-1, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.739%, 01/20/34 (B) | 760000 | 766465 |

---

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS OPPORTUNISTIC BOND FUND**

**OCTOBER 31, 2025**

---

| | | |
|:---|:---|:---|
| **ASSET-BACKED SECURITIES — continued** | **ASSET-BACKED SECURITIES — continued** | **ASSET-BACKED SECURITIES — continued** |
|  | **Face<br> Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;ServiceMaster Funding, Ser 2020-1, Cl A2I |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.841%, 01/30/51 (B) | $937960 | $885255 |
| &nbsp;&nbsp;&nbsp;SERVPRO Master Issuer, Ser 2019-1A, Cl A2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.882%, 10/25/49 (B) | 1692000 | 1686475 |
| &nbsp;&nbsp;&nbsp;Sierra Timeshare Receivables Funding, Ser 2025-3A, Cl C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.980%, 08/22/44 (B) | 1369000 | 1359426 |
| &nbsp;&nbsp;&nbsp;SoFi Consumer Loan Program Trust, Ser 2025-4, Cl D |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.270%, 08/25/35 (B) | 2345000 | 2345450 |
| &nbsp;&nbsp;&nbsp;Sunnova Helios XI Issuer, Ser 2023-A, Cl A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.300%, 05/20/50 (B) | 869741 | 797941 |
| &nbsp;&nbsp;&nbsp;Sunnova Helios XII Issuer, Ser 2023-B, Cl A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.300%, 08/22/50 (B) | 852616 | 790978 |
| &nbsp;&nbsp;&nbsp;Sunrun Neptune Issuer, Ser 2024-1A, Cl A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.270%, 02/01/55 (B) | 1274414 | 1256753 |
| &nbsp;&nbsp;&nbsp;Switch ABS Issuer, Ser 2025-2A, Cl A21 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.121%, 10/25/55 (B) | 1090000 | 1091004 |
| &nbsp;&nbsp;&nbsp;Trinity Rail Leasing, Ser 2025-1A, Cl A |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.090%, 10/19/55 (B) | 250000 | 249178 |
| &nbsp;&nbsp;&nbsp;Vivint Solar Financing V, Ser 2018-1A, Cl B |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.370%, 04/30/48 (B) | 109696 | 106528 |
| &nbsp;&nbsp;&nbsp;Westgate Resorts, Ser 2023-1A, Cl C |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.490%, 12/20/37 (B) | 1079542 | 1101785 |
|  |  | 75702475 |
| &nbsp;&nbsp;&nbsp;Total Asset-Backed Securities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $138,481,975) |  | 138141213 |
| **MUNICIPAL BONDS — 1.9%** | **MUNICIPAL BONDS — 1.9%** | **MUNICIPAL BONDS — 1.9%** |
| **Alaska — 0.1%** | **Alaska — 0.1%** | **Alaska — 0.1%** |
| &nbsp;&nbsp;&nbsp;City of Port Lions Alaska, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.000%, 10/01/32 | $380000 | $402635 |
| **Arizona — 0.1%** | **Arizona — 0.1%** | **Arizona — 0.1%** |
| &nbsp;&nbsp;&nbsp;Arizona Industrial Development Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.809%, 10/01/30 | 500000 | 506710 |
| **California — 0.4%** | **California — 0.4%** | **California — 0.4%** |
| &nbsp;&nbsp;&nbsp;California Community Choice Financing Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.125%, 04/01/30 | 1420000 | 1475700 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.950%, 08/01/29 | 825000 | 843754 |

---

---

| | | | |
|:---|:---|:---|:---|
| **MUNICIPAL BONDS — continued** | **MUNICIPAL BONDS — continued** | **MUNICIPAL BONDS — continued** | **MUNICIPAL BONDS — continued** |
|  | **Face<br> Amount** | **Face<br> Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;City of Los Angeles Department of Airports Customer Facility Charge Revenue, RB |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.258%, 05/15/30 | $| 1000000 | 968356 |
|  |  |  | 3287810 |
| **Hawaii — 0.1%** | **Hawaii — 0.1%** | **Hawaii — 0.1%** | **Hawaii — 0.1%** |
| &nbsp;&nbsp;&nbsp;State of Hawaii Department of Business Economic Development & Tourism, Ser A-2, RB |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.242%, 01/01/31 |  | 650632 | 640793 |
| **Illinois — 0.3%** | **Illinois — 0.3%** | **Illinois — 0.3%** | **Illinois — 0.3%** |
| &nbsp;&nbsp;&nbsp;Chicago Housing Authority, Ser B, RB |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.822%, 01/01/26 |  | 500000 | 499808 |
| &nbsp;&nbsp;&nbsp;Village of Deerfield Illinois, Ser B, GO |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.000%, 12/01/28 |  | 1250000 | 1249071 |
|  |  |  | 1748879 |
| **Indiana — 0.0%** | **Indiana — 0.0%** | **Indiana — 0.0%** | **Indiana — 0.0%** |
| &nbsp;&nbsp;&nbsp;City of Fort Wayne Indiana, RB |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10.750%, 12/01/29 |  | 234358 | 24 |
| **Iowa — 0.1%** | **Iowa — 0.1%** | **Iowa — 0.1%** | **Iowa — 0.1%** |
| &nbsp;&nbsp;&nbsp;Iowa Finance Authority, RB |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7.000%, 11/01/27 (B) |  | 415000 | 420459 |
| **Maryland — 0.0%** | **Maryland — 0.0%** | **Maryland — 0.0%** | **Maryland — 0.0%** |
| &nbsp;&nbsp;&nbsp;Montgomery County Housing Opportunities Commission, GO |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.482%, 12/01/29 |  | 250000 | 255981 |
| **New Hampshire — 0.4%** | **New Hampshire — 0.4%** | **New Hampshire — 0.4%** | **New Hampshire — 0.4%** |
| &nbsp;&nbsp;&nbsp;New Hampshire Business Finance Authority, RB |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.400%, 02/01/29 (A)(B) |  | 2500000 | 2500000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.270%, 07/01/33 (A)(B) |  | 850000 | 850000 |
|  |  |  | 3350000 |
| **New York — 0.2%** | **New York — 0.2%** | **New York — 0.2%** | **New York — 0.2%** |
| &nbsp;&nbsp;&nbsp;New York State Energy Research & Development Authority, Ser A, RB |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.822%, 04/01/28 |  | 500000 | 503209 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.621%, 04/01/27 |  | 820000 | 820529 |
|  |  |  | 1323738 |
| **Pennsylvania — 0.0%** | **Pennsylvania — 0.0%** | **Pennsylvania — 0.0%** | **Pennsylvania — 0.0%** |
| &nbsp;&nbsp;&nbsp;Redevelopment Authority of the City of Philadelphia, Ser A, RB |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.226%, 09/01/40 |  | 275000 | 279770 |

---

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS OPPORTUNISTIC BOND FUND**

**OCTOBER 31, 2025**

---

| | | |
|:---|:---|:---|
| **MUNICIPAL BONDS — continued** | **MUNICIPAL BONDS — continued** | **MUNICIPAL BONDS — continued** |
|  | **Face<br> Amount** | **Value** |
| **South Dakota — 0.0%** | **South Dakota — 0.0%** | **South Dakota — 0.0%** |
| &nbsp;&nbsp;&nbsp;South Dakota Housing Development Authority, Ser E, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.460%, 05/01/53 | $200000 | $203342 |
| **Wisconsin — 0.2%** | **Wisconsin — 0.2%** | **Wisconsin — 0.2%** |
| &nbsp;&nbsp;&nbsp;Public Finance Authority, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.250%, 06/01/31 (B) | 500000 | 506814 |
| &nbsp;&nbsp;&nbsp;Public Finance Authority, Ser A, RB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.292%, 07/01/29 | 500000 | 505276 |
|  |  | 1012090 |
| &nbsp;&nbsp;&nbsp;Total Municipal Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $13,499,277) |  | 13432231 |
| **SOVEREIGN DEBT — 1.6%** | **SOVEREIGN DEBT — 1.6%** | **SOVEREIGN DEBT — 1.6%** |
| **CANADA — 0.4%** | **CANADA — 0.4%** | **CANADA — 0.4%** |
| &nbsp;&nbsp;&nbsp;CDP Financial MTN |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.000%, 05/26/26(B) | $1000000 | $983609 |
| &nbsp;&nbsp;&nbsp;OMERS Finance Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.500%, 04/19/32 | 2000000 | 1921446 |
|  |  | 2905055 |
| **FINLAND — 0.2%** | **FINLAND — 0.2%** | **FINLAND — 0.2%** |
| &nbsp;&nbsp;&nbsp;Kuntarahoitus |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.625%, 10/09/29(B) | 1000000 | 994930 |
| **IRELAND — 0.3%** | **IRELAND — 0.3%** | **IRELAND — 0.3%** |
| &nbsp;&nbsp;&nbsp;BB Blue Financing DAC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.395%, 09/20/29 | 2500000 | 2436445 |
| **JAPAN — 0.5%** | **JAPAN — 0.5%** | **JAPAN — 0.5%** |
| &nbsp;&nbsp;&nbsp;Japan Bank for International Cooperation |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.375%, 10/05/27 | 2046000 | 2067225 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.625%, 01/20/27 | 1500000 | 1460548 |
| &nbsp;&nbsp;&nbsp;Japan International Cooperation Agency |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.250%, 05/22/30 | 230000 | 233138 |
|  |  | 3760911 |
| **NETHERLANDS — 0.2%** | **NETHERLANDS — 0.2%** | **NETHERLANDS — 0.2%** |
| &nbsp;&nbsp;&nbsp;Nederlandse Waterschapsbank |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.375%, 02/28/29(B) | 400000 | 407493 |

---

---

| | | |
|:---|:---|:---|
| **SOVEREIGN DEBT — continued** | **SOVEREIGN DEBT — continued** | **SOVEREIGN DEBT — continued** |
|  | **Face<br> Amount** | **Value** |
| **NETHERLANDS — continued** | **NETHERLANDS — continued** | **NETHERLANDS — continued** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.000%, 05/28/30(B) | $1000000 | $882717 |
|  |  | 1290210 |
| **SOUTH KOREA — 0.0%** | **SOUTH KOREA — 0.0%** | **SOUTH KOREA — 0.0%** |
| &nbsp;&nbsp;&nbsp;Korea Electric Power |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.875%, 01/31/27(B) | 250000 | 252291 |
| &nbsp;&nbsp;&nbsp;Total Sovereign Debt |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $11,584,468) |  | 11639842 |
| **BANK LOAN OBLIGATIONS — 0.4%** | **BANK LOAN OBLIGATIONS — 0.4%** | **BANK LOAN OBLIGATIONS — 0.4%** |
| **ECOLOGICAL SERVICES & EQUIPMENT — 0.4%** | **ECOLOGICAL SERVICES & EQUIPMENT — 0.4%** | **ECOLOGICAL SERVICES & EQUIPMENT — 0.4%** |
| &nbsp;&nbsp;&nbsp;LTR Intermediate Holdings Term Loan |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.460%, 05/05/28 | $247416 | $247416 |
| &nbsp;&nbsp;&nbsp;Terraform Power Operating Specified Refinancing Term Loan |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.002%, TSFR1M + 2.500%, 05/21/29(A) | 1620917 | 1615519 |
| &nbsp;&nbsp;&nbsp;Vistra Zero Operating Company Term Loan |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.324%, 03/20/31 | 995000 | 973697 |
| &nbsp;&nbsp;&nbsp;Total Bank Loan Obligations |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $2,942,092) |  | 2836632 |
| **U.S. GOVERNMENT AGENCY OBLIGATION — 0.0%** | **U.S. GOVERNMENT AGENCY OBLIGATION — 0.0%** | **U.S. GOVERNMENT AGENCY OBLIGATION — 0.0%** |
| &nbsp;&nbsp;&nbsp;United States International Development Finance |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.790%, 10/15/29 | $200551 | $191545 |
| &nbsp;&nbsp;&nbsp;Total U.S. Government Agency Obligation |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $192,567) |  | 191545 |
| **SHORT-TERM INVESTMENT — 0.5%** | **SHORT-TERM INVESTMENT — 0.5%** | **SHORT-TERM INVESTMENT — 0.5%** |
|  | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;State Street Institutional U.S. Government Money Market Fund, Institutional Class, 4.290%, (H) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $3,582,206) | 3582206 | $3582206 |
| &nbsp;&nbsp;&nbsp;Total Short-Term Investment |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $3,582,206) |  | 3582206 |
| &nbsp;&nbsp;&nbsp;Total Investments in Securities— 98.9% | &nbsp;&nbsp;&nbsp;Total Investments in Securities— 98.9% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $719,063,337) |  | $722890299 |

---

Percentages are based on Net Assets of $731,174,817.

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS OPPORTUNISTIC BOND FUND**

**OCTOBER 31, 2025**

A list of the open futures contracts held by the Fund at October 31, 2025, is as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Type of Contract | Number of<br> Contracts | Expiration<br> Date | Notional Amount | Value | Unrealized<br> Depreciation |
| Long Contracts |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;U.S. 5-Year Treasury Note | 49 | Dec-2025 | $5355842 | $5351336 | $(4506) |

---

&nbsp;&nbsp;&nbsp;&nbsp;‡ Real Estate
 Investment Trust.

(A) Variable or
 floating rate security. The rate shown is the effective interest rate as of period end. The rates for certain securities are not based
 on published reference rates and spreads and are either determined by the issuer or agent based on current market conditions; by using
 a formula based on the rates of underlying loans; or by adjusting periodically based on prevailing interest rates.

(B) Securities
 sold within the terms of a private placement memorandum, exempt from registration under section 144A of the Securities Act of 1933, as
 amended, and maybe sold only to dealers in the program or other "accredited investors". The total value of these securities at
 October 31, 2025 was $241,525,615 and represented 33.0% of Net Assets.

(C) This security
 or a partial position of this security is on loan at October 31, 2025. The total market value of securities on loan at October 31, 2025
 was $3,510,005.

(D) Perpetual security
 with no stated maturity date.

(E) Zero coupon
 security.

(F) No interest
 rate available.

(G) Step coupon
 security. Coupon rate will either increase (step-up bond) or decrease (step-down bond) at regular intervals until maturity. Interest rate
 shown reflects the rate currently in effect.

(H) This security
 was purchased with cash collateral received from securities lending. The total was of such securities as of October 31, 2025, was $3,582,206.

Cl — Class

CLO — Collateralized Loan Obligation

DAC — Designated Activity Company

FHLMC — Federal Home Loan Mortgage Corporation

FNMA — Federal National Mortgage Association

GNMA — Government National Mortgage Association

GO — General Obligation

H15T1Y — US Treasury Yield Curve Rate T Note Constant Maturity 1 Year

H15T5Y — US Treasury Yield Curve Rate T Note Constant Maturity 5 Year

IO — Interest Only

MTN — Medium Term Note

RB — Revenue Bond

REMIC — Real Estate Mortgage Investment Conduit

Ser — Series

SOFRRATE — Secured Overnight Financing Rate

SOFRINDX — Secured Overnight Financing Rate Index

TSFR1M — Term Secured Overnight Financing Rate 1 Month

TSFR3M — Term Secured Overnight Financing Rate 3 Month

US0003M — ICE LIBOR USD 1 Month

USBMMY3M — U.S. Treasury Bill Money Market Yield 3 Month

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS OPPORTUNISTIC BOND FUND**

**OCTOBER 31, 2025**

The following is a summary of the inputs used as of October 31, 2025, in valuing the Fund's investments and other financial instruments carried at market value:

---

| | | | | |
|:---|:---|:---|:---|:---|
| Investments in Securities | Level 1 | Level 2 | Level 3^ | Total |
| &nbsp;&nbsp;&nbsp;U.S. Treasury Obligations | $— | $242160133 | $— | $242160133 |
| &nbsp;&nbsp;&nbsp;Corporate Obligations |  | 170418597 |  | 170418597 |
| &nbsp;&nbsp;&nbsp;Mortgage-Backed Securities |  | 140487900 |  | 140487900 |
| &nbsp;&nbsp;&nbsp;Asset-Backed Securities |  | 134266231 | 3874982 | 138141213 |
| &nbsp;&nbsp;&nbsp;Municipal Bonds |  | 13432231 |  | 13432231 |
| &nbsp;&nbsp;&nbsp;Sovereign Debt |  | 11639842 |  | 11639842 |
| &nbsp;&nbsp;&nbsp;Short-Term Investment | 3582206 |  |  | 3582206 |
| &nbsp;&nbsp;&nbsp;Bank Loan Obligations |  | 2836632 |  | 2836632 |
| &nbsp;&nbsp;&nbsp;U.S. Government Agency Obligation |  | 191545 |  | 191545 |
| Total Investments in Securities | $3582206 | $715433111 | $3874982 | $722890299 |
| Other Financial Instruments | Level 1 | Level 2 | Level 3 | Total |
| &nbsp;&nbsp;&nbsp;Futures Contracts\* |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Unrealized Depreciation | $(4506) | $— | $— | $(4506) |
| Total Other Financial Instruments | $(4506) | $— | $— | $(4506) |

---

---

| | |
|:---|:---|
| ^ | A reconciliation of Level 3 investments, including certain disclosures related to significant inputs used in valuing Level 3 investments is only presented when the Fund has over 1% of Level 3 investments at the end of the period in relation to net assets. |

---

\* Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument.

Amounts designated as "–" are $0 or have been round to $0.

For more information on valuation inputs, see Note 2 — Significant Accounting Policies in the Notes to Financial Statements.

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS EQUITY INDEX FUND**

**OCTOBER 31, 2025**

---

| | | |
|:---|:---|:---|
| **SCHEDULE OF INVESTMENTS** | **SCHEDULE OF INVESTMENTS** | **SCHEDULE OF INVESTMENTS** |
| **COMMON STOCK — 99.7%#** | **COMMON STOCK — 99.7%#** | **COMMON STOCK — 99.7%#** |
|  | **Shares** | **Value** |
| **COMMUNICATION SERVICES — 10.6%** | **COMMUNICATION SERVICES — 10.6%** | **COMMUNICATION SERVICES — 10.6%** |
| &nbsp;&nbsp;&nbsp;Alphabet, Cl A | 469820 | $132108686 |
| &nbsp;&nbsp;&nbsp;Alphabet, Cl C | 379376 | 106915744 |
| &nbsp;&nbsp;&nbsp;AT&T | 820421 | 20305420 |
| &nbsp;&nbsp;&nbsp;Charter Communications, Cl A \* | 7309 | 1709137 |
| &nbsp;&nbsp;&nbsp;Comcast, Cl A | 308705 | 8592804 |
| &nbsp;&nbsp;&nbsp;Electronic Arts | 17721 | 3545263 |
| &nbsp;&nbsp;&nbsp;Fox, Cl A | 16486 | 1065820 |
| &nbsp;&nbsp;&nbsp;Fox, Cl B | 11642 | 680009 |
| &nbsp;&nbsp;&nbsp;Interpublic Group of | 28779 | 738469 |
| &nbsp;&nbsp;&nbsp;Match Group | 18904 | 611355 |
| &nbsp;&nbsp;&nbsp;Meta Platforms, Cl A | 172910 | 112106199 |
| &nbsp;&nbsp;&nbsp;Netflix \* | 34479 | 38577174 |
| &nbsp;&nbsp;&nbsp;News, Cl A | 29632 | 785248 |
| &nbsp;&nbsp;&nbsp;News, Cl B | 9837 | 299733 |
| &nbsp;&nbsp;&nbsp;Omnicom Group | 15222 | 1141954 |
| &nbsp;&nbsp;&nbsp;Paramount Skydance, Cl B (A) | 24280 | 373669 |
| &nbsp;&nbsp;&nbsp;Take-Two Interactive Software \* | 13646 | 3498425 |
| &nbsp;&nbsp;&nbsp;TKO Group Holdings, Cl A | 5430 | 1023012 |
| &nbsp;&nbsp;&nbsp;T-Mobile US | 58133 | 12210837 |
| &nbsp;&nbsp;&nbsp;Trade Desk, Cl A \* | 35100 | 1764828 |
| &nbsp;&nbsp;&nbsp;Verizon Communications | 491865 | 19546715 |
| &nbsp;&nbsp;&nbsp;Walt Disney | 142230 | 16017943 |
| &nbsp;&nbsp;&nbsp;Warner Bros Discovery \* | 194827 | 4373866 |
|  |  | 487992310 |
| **CONSUMER DISCRETIONARY — 10.5%** | **CONSUMER DISCRETIONARY — 10.5%** | **CONSUMER DISCRETIONARY — 10.5%** |
| &nbsp;&nbsp;&nbsp;Airbnb, Cl A \* | 33767 | 4272876 |
| &nbsp;&nbsp;&nbsp;Amazon.com \* | 763748 | 186522537 |
| &nbsp;&nbsp;&nbsp;Aptiv \* | 17137 | 1389811 |
| &nbsp;&nbsp;&nbsp;AutoZone \* | 1317 | 4839224 |
| &nbsp;&nbsp;&nbsp;Best Buy | 15495 | 1272759 |
| &nbsp;&nbsp;&nbsp;Booking Holdings | 2551 | 12953315 |
| &nbsp;&nbsp;&nbsp;Carnival \* | 85422 | 2462716 |
| &nbsp;&nbsp;&nbsp;Chipotle Mexican Grill, Cl A \* | 105500 | 3343295 |
| &nbsp;&nbsp;&nbsp;Darden Restaurants | 9210 | 1659181 |
| &nbsp;&nbsp;&nbsp;Deckers Outdoor \* | 11641 | 948742 |
| &nbsp;&nbsp;&nbsp;Domino's Pizza | 2458 | 979415 |
| &nbsp;&nbsp;&nbsp;DoorDash, Cl A \* | 29131 | 7410052 |
| &nbsp;&nbsp;&nbsp;DR Horton | 21819 | 3252777 |
| &nbsp;&nbsp;&nbsp;eBay | 35975 | 2925127 |
| &nbsp;&nbsp;&nbsp;Expedia Group | 9301 | 2046220 |
| &nbsp;&nbsp;&nbsp;Ford Motor | 307617 | 4039011 |
| &nbsp;&nbsp;&nbsp;Garmin | 21188 | 4532961 |
| &nbsp;&nbsp;&nbsp;General Motors | 74916 | 5175946 |
| &nbsp;&nbsp;&nbsp;Genuine Parts | 10946 | 1393535 |
| &nbsp;&nbsp;&nbsp;Hasbro | 10485 | 800110 |
| &nbsp;&nbsp;&nbsp;Hilton Worldwide Holdings | 18509 | 4756073 |
| &nbsp;&nbsp;&nbsp;Home Depot | 78297 | 29720758 |
| &nbsp;&nbsp;&nbsp;Lennar, Cl A | 17911 | 2216844 |
| &nbsp;&nbsp;&nbsp;LKQ | 20220 | 646231 |
| &nbsp;&nbsp;&nbsp;Lowe's | 44104 | 10502486 |

---

---

| | | | |
|:---|:---|:---|:---|
| **COMMON STOCK — continued** | **COMMON STOCK — continued** | **COMMON STOCK — continued** | **COMMON STOCK — continued** |
|  | **Shares** | **Value** | **Value** |
| **CONSUMER DISCRETIONARY— continued** | **CONSUMER DISCRETIONARY— continued** | **CONSUMER DISCRETIONARY— continued** | **CONSUMER DISCRETIONARY— continued** |
| &nbsp;&nbsp;&nbsp;Lululemon Athletica \* | 8583 | $| 1463745 |
| &nbsp;&nbsp;&nbsp;Marriott International, Cl A | 17731 |  | 4620344 |
| &nbsp;&nbsp;&nbsp;McDonald's | 56158 |  | 16759232 |
| &nbsp;&nbsp;&nbsp;Mohawk Industries \* | 4107 |  | 466719 |
| &nbsp;&nbsp;&nbsp;NIKE, Cl B | 95735 |  | 6183524 |
| &nbsp;&nbsp;&nbsp;Norwegian Cruise Line Holdings \* | 35571 |  | 797502 |
| &nbsp;&nbsp;&nbsp;NVR \* | 226 |  | 1629645 |
| &nbsp;&nbsp;&nbsp;O'Reilly Automotive \* | 66727 |  | 6301698 |
| &nbsp;&nbsp;&nbsp;Pool | 2584 |  | 690083 |
| &nbsp;&nbsp;&nbsp;PulteGroup | 15527 |  | 1861221 |
| &nbsp;&nbsp;&nbsp;Ralph Lauren, Cl A | 3045 |  | 973365 |
| &nbsp;&nbsp;&nbsp;Ross Stores | 25739 |  | 4090442 |
| &nbsp;&nbsp;&nbsp;Royal Caribbean Cruises | 19880 |  | 5702180 |
| &nbsp;&nbsp;&nbsp;Starbucks | 89457 |  | 7234388 |
| &nbsp;&nbsp;&nbsp;Tapestry | 20812 |  | 2285574 |
| &nbsp;&nbsp;&nbsp;Tesla \* | 220831 |  | 100822601 |
| &nbsp;&nbsp;&nbsp;TJX | 87794 |  | 12303451 |
| &nbsp;&nbsp;&nbsp;Tractor Supply | 41680 |  | 2255305 |
| &nbsp;&nbsp;&nbsp;Ulta Beauty \* | 3537 |  | 1838816 |
| &nbsp;&nbsp;&nbsp;Williams-Sonoma | 9679 |  | 1881017 |
| &nbsp;&nbsp;&nbsp;Yum! Brands | 21841 |  | 3018645 |
|  |  |  | 483241499 |
| **CONSUMER STAPLES — 5.3%** | **CONSUMER STAPLES — 5.3%** | **CONSUMER STAPLES — 5.3%** | **CONSUMER STAPLES — 5.3%** |
| &nbsp;&nbsp;&nbsp;Archer-Daniels-Midland | 66649 |  | 4034264 |
| &nbsp;&nbsp;&nbsp;Brown-Forman, Cl B | 14973 |  | 407715 |
| &nbsp;&nbsp;&nbsp;Bunge Global | 45273 |  | 4282826 |
| &nbsp;&nbsp;&nbsp;Campbell Soup | 58187 |  | 1753174 |
| &nbsp;&nbsp;&nbsp;Clorox | 9625 |  | 1082427 |
| &nbsp;&nbsp;&nbsp;Coca-Cola | 468538 |  | 32282268 |
| &nbsp;&nbsp;&nbsp;Colgate-Palmolive | 127284 |  | 9807232 |
| &nbsp;&nbsp;&nbsp;Conagra Brands | 179810 |  | 3090934 |
| &nbsp;&nbsp;&nbsp;Constellation Brands, Cl A | 13349 |  | 1753792 |
| &nbsp;&nbsp;&nbsp;Costco Wholesale | 38773 |  | 35339651 |
| &nbsp;&nbsp;&nbsp;Dollar General | 17339 |  | 1710666 |
| &nbsp;&nbsp;&nbsp;Dollar Tree \* | 15274 |  | 1513959 |
| &nbsp;&nbsp;&nbsp;Estee Lauder, Cl A | 18394 |  | 1778516 |
| &nbsp;&nbsp;&nbsp;General Mills | 144460 |  | 6733281 |
| &nbsp;&nbsp;&nbsp;Hershey | 26001 |  | 4410550 |
| &nbsp;&nbsp;&nbsp;Hormel Foods | 86117 |  | 1859266 |
| &nbsp;&nbsp;&nbsp;J M Smucker | 21422 |  | 2218248 |
| &nbsp;&nbsp;&nbsp;Kellanova | 39194 |  | 3255454 |
| &nbsp;&nbsp;&nbsp;Kenvue | 150981 |  | 2169597 |
| &nbsp;&nbsp;&nbsp;Keurig Dr Pepper | 221690 |  | 6021100 |
| &nbsp;&nbsp;&nbsp;Kimberly-Clark | 58297 |  | 6978734 |
| &nbsp;&nbsp;&nbsp;Kraft Heinz | 113456 |  | 2805767 |
| &nbsp;&nbsp;&nbsp;Kroger | 72542 |  | 4615847 |
| &nbsp;&nbsp;&nbsp;Lamb Weston Holdings | 10986 |  | 678166 |
| &nbsp;&nbsp;&nbsp;McCormick | 47261 |  | 3032266 |
| &nbsp;&nbsp;&nbsp;Molson Coors Beverage, Cl B | 50728 |  | 2217828 |
| &nbsp;&nbsp;&nbsp;Mondelez International, Cl A | 195728 |  | 11246531 |

---

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS EQUITY INDEX FUND**

**OCTOBER 31, 2025**

---

| | | | |
|:---|:---|:---|:---|
| **COMMON STOCK — continued** | **COMMON STOCK — continued** | **COMMON STOCK — continued** | **COMMON STOCK — continued** |
|  | **Shares** | **Value** | **Value** |
| **CONSUMER STAPLES— continued** | **CONSUMER STAPLES— continued** | **CONSUMER STAPLES— continued** | **CONSUMER STAPLES— continued** |
| &nbsp;&nbsp;&nbsp;Monster Beverage \* | 112208 | $| 7498861 |
| &nbsp;&nbsp;&nbsp;PepsiCo | 169959 |  | 24829310 |
| &nbsp;&nbsp;&nbsp;Sysco | 54618 |  | 4057025 |
| &nbsp;&nbsp;&nbsp;Target | 35727 |  | 3312607 |
| &nbsp;&nbsp;&nbsp;Tyson Foods, Cl A | 56477 |  | 2903482 |
| &nbsp;&nbsp;&nbsp;Walmart | 411339 |  | 41619280 |
|  |  |  | 241300624 |
| **ENERGY — 2.9%** | **ENERGY — 2.9%** | **ENERGY — 2.9%** | **ENERGY — 2.9%** |
| &nbsp;&nbsp;&nbsp;APA | 28152 |  | 637643 |
| &nbsp;&nbsp;&nbsp;Baker Hughes, Cl A | 77631 |  | 3758117 |
| &nbsp;&nbsp;&nbsp;Chevron | 160088 |  | 25249036 |
| &nbsp;&nbsp;&nbsp;ConocoPhillips | 103792 |  | 9222957 |
| &nbsp;&nbsp;&nbsp;Coterra Energy | 60039 |  | 1420523 |
| &nbsp;&nbsp;&nbsp;Devon Energy | 49980 |  | 1623850 |
| &nbsp;&nbsp;&nbsp;Diamondback Energy | 14808 |  | 2120357 |
| &nbsp;&nbsp;&nbsp;EOG Resources | 42967 |  | 4547627 |
| &nbsp;&nbsp;&nbsp;EQT Corporation | 49100 |  | 2630778 |
| &nbsp;&nbsp;&nbsp;Expand Energy Corporation | 18741 |  | 1936133 |
| &nbsp;&nbsp;&nbsp;Exxon Mobil | 365710 |  | 41822596 |
| &nbsp;&nbsp;&nbsp;Halliburton | 67113 |  | 1801313 |
| &nbsp;&nbsp;&nbsp;Kinder Morgan | 155014 |  | 4059817 |
| &nbsp;&nbsp;&nbsp;Marathon Petroleum | 23925 |  | 4663222 |
| &nbsp;&nbsp;&nbsp;Occidental Petroleum | 56587 |  | 2331384 |
| &nbsp;&nbsp;&nbsp;ONEOK | 49600 |  | 3323200 |
| &nbsp;&nbsp;&nbsp;Phillips 66 | 31803 |  | 4329660 |
| &nbsp;&nbsp;&nbsp;SLB Limited | 117442 |  | 4234958 |
| &nbsp;&nbsp;&nbsp;Targa Resources | 16935 |  | 2608667 |
| &nbsp;&nbsp;&nbsp;Texas Pacific Land | 1520 |  | 1433938 |
| &nbsp;&nbsp;&nbsp;Valero Energy | 24447 |  | 4145233 |
| &nbsp;&nbsp;&nbsp;Williams | 98647 |  | 5708702 |
|  |  |  | 133609711 |
| **FINANCIALS — 12.8%** | **FINANCIALS — 12.8%** | **FINANCIALS — 12.8%** | **FINANCIALS — 12.8%** |
| &nbsp;&nbsp;&nbsp;Aflac | 37880 |  | 4060357 |
| &nbsp;&nbsp;&nbsp;Allstate | 29319 |  | 5615175 |
| &nbsp;&nbsp;&nbsp;American Express | 42715 |  | 15408582 |
| &nbsp;&nbsp;&nbsp;American International Group | 43626 |  | 3444709 |
| &nbsp;&nbsp;&nbsp;Ameriprise Financial | 7419 |  | 3359101 |
| &nbsp;&nbsp;&nbsp;Aon, Cl A | 16969 |  | 5780999 |
| &nbsp;&nbsp;&nbsp;Apollo Global Management | 36212 |  | 4501514 |
| &nbsp;&nbsp;&nbsp;Arch Capital Group | 29263 |  | 2525689 |
| &nbsp;&nbsp;&nbsp;Arthur J Gallagher | 20175 |  | 5033461 |
| &nbsp;&nbsp;&nbsp;Assurant | 3971 |  | 840740 |
| &nbsp;&nbsp;&nbsp;Bank of America | 536269 |  | 28663578 |
| &nbsp;&nbsp;&nbsp;Bank of New York Mellon | 56618 |  | 6110781 |
| &nbsp;&nbsp;&nbsp;Berkshire Hathaway, Cl B \* | 155385 |  | 74202553 |
| &nbsp;&nbsp;&nbsp;Blackstone | 58006 |  | 8506000 |
| &nbsp;&nbsp;&nbsp;Block, Cl A \* | 43200 |  | 3280608 |
| &nbsp;&nbsp;&nbsp;Brown & Brown | 23104 |  | 1842313 |
| &nbsp;&nbsp;&nbsp;Capital One Financial | 50327 |  | 11071327 |
| &nbsp;&nbsp;&nbsp;Cboe Global Markets | 8231 |  | 2021863 |
| &nbsp;&nbsp;&nbsp;Charles Schwab | 134276 |  | 12691768 |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCK — continued** | **COMMON STOCK — continued** | **COMMON STOCK — continued** |
|  | **Shares** | **Value** |
| **FINANCIALS— continued** | **FINANCIALS— continued** | **FINANCIALS— continued** |
| &nbsp;&nbsp;&nbsp;Chubb | 41106 | $11383896 |
| &nbsp;&nbsp;&nbsp;Cincinnati Financial | 12306 | 1902385 |
| &nbsp;&nbsp;&nbsp;Citigroup | 144875 | 14665696 |
| &nbsp;&nbsp;&nbsp;Citizens Financial Group | 33949 | 1726986 |
| &nbsp;&nbsp;&nbsp;CME Group, Cl A | 28360 | 7529296 |
| &nbsp;&nbsp;&nbsp;Coinbase Global, Cl A \* | 17798 | 6118596 |
| &nbsp;&nbsp;&nbsp;Corpay \* | 5557 | 1446765 |
| &nbsp;&nbsp;&nbsp;Erie Indemnity, Cl A | 1999 | 584987 |
| &nbsp;&nbsp;&nbsp;Everest Group | 3301 | 1038230 |
| &nbsp;&nbsp;&nbsp;FactSet Research Systems | 2975 | 793730 |
| &nbsp;&nbsp;&nbsp;Fidelity National Information Services | 41127 | 2571260 |
| &nbsp;&nbsp;&nbsp;Fifth Third Bancorp | 52126 | 2169484 |
| &nbsp;&nbsp;&nbsp;Fiserv \* | 42775 | 2852665 |
| &nbsp;&nbsp;&nbsp;Franklin Resources | 24060 | 543997 |
| &nbsp;&nbsp;&nbsp;Global Payments | 19065 | 1482494 |
| &nbsp;&nbsp;&nbsp;Globe Life | 6375 | 838376 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group | 25318 | 19985270 |
| &nbsp;&nbsp;&nbsp;Hartford Financial Services Group | 24033 | 2984418 |
| &nbsp;&nbsp;&nbsp;Huntington Bancshares | 123751 | 1910715 |
| &nbsp;&nbsp;&nbsp;Interactive Brokers Group, Cl A | 35000 | 2462600 |
| &nbsp;&nbsp;&nbsp;Intercontinental Exchange | 45047 | 6589926 |
| &nbsp;&nbsp;&nbsp;Invesco | 35086 | 831538 |
| &nbsp;&nbsp;&nbsp;Jack Henry & Associates | 5730 | 853426 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase | 216394 | 67324501 |
| &nbsp;&nbsp;&nbsp;KeyCorp | 73367 | 1290526 |
| &nbsp;&nbsp;&nbsp;Loews | 13343 | 1328429 |
| &nbsp;&nbsp;&nbsp;M&T Bank | 12298 | 2261233 |
| &nbsp;&nbsp;&nbsp;Marsh & McLennan | 38689 | 6892445 |
| &nbsp;&nbsp;&nbsp;Mastercard, Cl A | 69251 | 38225859 |
| &nbsp;&nbsp;&nbsp;MetLife | 43929 | 3506413 |
| &nbsp;&nbsp;&nbsp;Moody's | 12142 | 5831803 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | 97724 | 16026736 |
| &nbsp;&nbsp;&nbsp;MSCI, Cl A | 6088 | 3583092 |
| &nbsp;&nbsp;&nbsp;Nasdaq | 35717 | 3053446 |
| &nbsp;&nbsp;&nbsp;Northern Trust | 15049 | 1936355 |
| &nbsp;&nbsp;&nbsp;PayPal Holdings \* | 75199 | 5209035 |
| &nbsp;&nbsp;&nbsp;PNC Financial Services Group | 30991 | 5657407 |
| &nbsp;&nbsp;&nbsp;Principal Financial Group | 15939 | 1339514 |
| &nbsp;&nbsp;&nbsp;Progressive | 51313 | 10570478 |
| &nbsp;&nbsp;&nbsp;Prudential Financial | 27701 | 2880904 |
| &nbsp;&nbsp;&nbsp;Raymond James Financial | 13965 | 2215827 |
| &nbsp;&nbsp;&nbsp;Regions Financial | 70180 | 1698356 |
| &nbsp;&nbsp;&nbsp;Robinhood Markets, Cl A \* | 60908 | 8940076 |
| &nbsp;&nbsp;&nbsp;S&P Global | 24592 | 11981468 |
| &nbsp;&nbsp;&nbsp;State Street | 22326 | 2582225 |
| &nbsp;&nbsp;&nbsp;Synchrony Financial | 29261 | 2176433 |
| &nbsp;&nbsp;&nbsp;T Rowe Price Group | 17291 | 1772846 |
| &nbsp;&nbsp;&nbsp;Travelers | 24399 | 6554059 |
| &nbsp;&nbsp;&nbsp;Truist Financial | 101434 | 4526999 |
| &nbsp;&nbsp;&nbsp;US Bancorp | 122438 | 5715406 |

---

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS EQUITY INDEX FUND**

**OCTOBER 31, 2025**

---

| | | | |
|:---|:---|:---|:---|
| **COMMON STOCK — continued** | **COMMON STOCK — continued** | **COMMON STOCK — continued** | **COMMON STOCK — continued** |
|  | **Shares** | **Value** | **Value** |
| **FINANCIALS— continued** | **FINANCIALS— continued** | **FINANCIALS— continued** | **FINANCIALS— continued** |
| &nbsp;&nbsp;&nbsp;Visa, Cl A | 145880 | $| 49707151 |
| &nbsp;&nbsp;&nbsp;W R Berkley | 23617 |  | 1684837 |
| &nbsp;&nbsp;&nbsp;Wells Fargo | 252135 |  | 21928181 |
| &nbsp;&nbsp;&nbsp;Willis Towers Watson | 7677 |  | 2403669 |
|  |  |  | 593033563 |
| **HEALTH CARE — 6.6%** | **HEALTH CARE — 6.6%** | **HEALTH CARE — 6.6%** | **HEALTH CARE — 6.6%** |
| &nbsp;&nbsp;&nbsp;Align Technology \* | 5305 |  | 731454 |
| &nbsp;&nbsp;&nbsp;Baxter International | 92100 |  | 1701087 |
| &nbsp;&nbsp;&nbsp;Boston Scientific \* | 208842 |  | 21034566 |
| &nbsp;&nbsp;&nbsp;Cardinal Health | 54774 |  | 10449236 |
| &nbsp;&nbsp;&nbsp;Cencora, Cl A | 35375 |  | 11950029 |
| &nbsp;&nbsp;&nbsp;Centene \* | 66400 |  | 2348568 |
| &nbsp;&nbsp;&nbsp;Cigna Group | 36438 |  | 8905812 |
| &nbsp;&nbsp;&nbsp;CVS Health | 139939 |  | 10936233 |
| &nbsp;&nbsp;&nbsp;DaVita \* | 11557 |  | 1375514 |
| &nbsp;&nbsp;&nbsp;Dexcom \* | 40213 |  | 2341201 |
| &nbsp;&nbsp;&nbsp;Edwards Lifesciences \* | 90534 |  | 7464528 |
| &nbsp;&nbsp;&nbsp;Elevance Health | 32440 |  | 10289968 |
| &nbsp;&nbsp;&nbsp;Henry Schein \* | 51530 |  | 3256696 |
| &nbsp;&nbsp;&nbsp;Hologic \* | 81981 |  | 6059216 |
| &nbsp;&nbsp;&nbsp;Humana | 16738 |  | 4656344 |
| &nbsp;&nbsp;&nbsp;IDEXX Laboratories \* | 11708 |  | 7370303 |
| &nbsp;&nbsp;&nbsp;Insulet \* | 8299 |  | 2597670 |
| &nbsp;&nbsp;&nbsp;Intuitive Surgical \* | 40321 |  | 21542704 |
| &nbsp;&nbsp;&nbsp;IQVIA Holdings \* | 111903 |  | 24222523 |
| &nbsp;&nbsp;&nbsp;McKesson | 17675 |  | 14340434 |
| &nbsp;&nbsp;&nbsp;Medtronic | 196090 |  | 17785363 |
| &nbsp;&nbsp;&nbsp;Molina Healthcare \* | 10996 |  | 1683048 |
| &nbsp;&nbsp;&nbsp;Quest Diagnostics | 42017 |  | 7392891 |
| &nbsp;&nbsp;&nbsp;ResMed | 31773 |  | 7844118 |
| &nbsp;&nbsp;&nbsp;STERIS | 29848 |  | 7035174 |
| &nbsp;&nbsp;&nbsp;Stryker | 52405 |  | 18668757 |
| &nbsp;&nbsp;&nbsp;West Pharmaceutical Services | 78936 |  | 22265478 |
| &nbsp;&nbsp;&nbsp;Zimmer Biomet Holdings | 59336 |  | 5966828 |
| &nbsp;&nbsp;&nbsp;Zoetis, Cl A | 278237 |  | 40091169 |
|  |  |  | 302306912 |
| **INDUSTRIALS — 7.8%** | **INDUSTRIALS — 7.8%** | **INDUSTRIALS — 7.8%** | **INDUSTRIALS — 7.8%** |
| &nbsp;&nbsp;&nbsp;3M | 53979 |  | 8987503 |
| &nbsp;&nbsp;&nbsp;A O Smith | 8956 |  | 591006 |
| &nbsp;&nbsp;&nbsp;Allegion | 11005 |  | 1824299 |
| &nbsp;&nbsp;&nbsp;AMETEK | 32825 |  | 6634261 |
| &nbsp;&nbsp;&nbsp;Automatic Data Processing | 46474 |  | 12097182 |
| &nbsp;&nbsp;&nbsp;Axon Enterprise \* | 6178 |  | 4523717 |
| &nbsp;&nbsp;&nbsp;Broadridge Financial Solutions | 15458 |  | 3406943 |
| &nbsp;&nbsp;&nbsp;Builders FirstSource \* | 8700 |  | 1010679 |
| &nbsp;&nbsp;&nbsp;Carrier Global | 73286 |  | 4359784 |
| &nbsp;&nbsp;&nbsp;Caterpillar | 42003 |  | 24246652 |
| &nbsp;&nbsp;&nbsp;CH Robinson Worldwide | 9293 |  | 1431029 |
| &nbsp;&nbsp;&nbsp;Cintas | 35836 |  | 6567664 |
| &nbsp;&nbsp;&nbsp;Copart \* | 74292 |  | 3195299 |
| &nbsp;&nbsp;&nbsp;CSX | 146682 |  | 5283486 |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCK — continued** | **COMMON STOCK — continued** | **COMMON STOCK — continued** |
|  | **Shares** | **Value** |
| **INDUSTRIALS— continued** | **INDUSTRIALS— continued** | **INDUSTRIALS— continued** |
| &nbsp;&nbsp;&nbsp;Cummins | 16901 | $7397230 |
| &nbsp;&nbsp;&nbsp;Dayforce \* | 12570 | 864062 |
| &nbsp;&nbsp;&nbsp;Deere | 27768 | 12818542 |
| &nbsp;&nbsp;&nbsp;Delta Air Lines | 51000 | 2926380 |
| &nbsp;&nbsp;&nbsp;Dover | 14670 | 2662018 |
| &nbsp;&nbsp;&nbsp;EMCOR Group | 4145 | 2801108 |
| &nbsp;&nbsp;&nbsp;Emerson Electric | 54154 | 7558274 |
| &nbsp;&nbsp;&nbsp;Equifax | 9742 | 2056536 |
| &nbsp;&nbsp;&nbsp;Expeditors International of Washington | 10681 | 1302014 |
| &nbsp;&nbsp;&nbsp;Fastenal | 141958 | 5841572 |
| &nbsp;&nbsp;&nbsp;FedEx | 17079 | 4334992 |
| &nbsp;&nbsp;&nbsp;GE Aerospace | 98440 | 30413038 |
| &nbsp;&nbsp;&nbsp;GE Vernova | 23866 | 13964951 |
| &nbsp;&nbsp;&nbsp;Generac Holdings \* | 4618 | 775916 |
| &nbsp;&nbsp;&nbsp;Howmet Aerospace | 38921 | 8015780 |
| &nbsp;&nbsp;&nbsp;Hubbell, Cl B | 4571 | 2148370 |
| &nbsp;&nbsp;&nbsp;IDEX | 5925 | 1015900 |
| &nbsp;&nbsp;&nbsp;Illinois Tool Works | 38649 | 9427264 |
| &nbsp;&nbsp;&nbsp;Ingersoll Rand | 28459 | 2172275 |
| &nbsp;&nbsp;&nbsp;JB Hunt Transport Services | 6018 | 1016199 |
| &nbsp;&nbsp;&nbsp;Johnson Controls International | 73890 | 8452277 |
| &nbsp;&nbsp;&nbsp;Lennox International | 2781 | 1404405 |
| &nbsp;&nbsp;&nbsp;Masco | 16491 | 1067957 |
| &nbsp;&nbsp;&nbsp;Nordson | 4225 | 979989 |
| &nbsp;&nbsp;&nbsp;Norfolk Southern | 17656 | 5003357 |
| &nbsp;&nbsp;&nbsp;Old Dominion Freight Line | 14555 | 2043813 |
| &nbsp;&nbsp;&nbsp;Otis Worldwide | 44481 | 4126058 |
| &nbsp;&nbsp;&nbsp;PACCAR | 60501 | 5953298 |
| &nbsp;&nbsp;&nbsp;Parker-Hannifin | 13693 | 10582361 |
| &nbsp;&nbsp;&nbsp;Paychex | 39792 | 4656858 |
| &nbsp;&nbsp;&nbsp;Paycom Software | 3940 | 737135 |
| &nbsp;&nbsp;&nbsp;Pentair | 16834 | 1790296 |
| &nbsp;&nbsp;&nbsp;Quanta Services | 13235 | 5944236 |
| &nbsp;&nbsp;&nbsp;Republic Services, Cl A | 29139 | 6067905 |
| &nbsp;&nbsp;&nbsp;Rockwell Automation | 10705 | 3943294 |
| &nbsp;&nbsp;&nbsp;Rollins | 52570 | 3028558 |
| &nbsp;&nbsp;&nbsp;Snap-on | 7291 | 2446495 |
| &nbsp;&nbsp;&nbsp;Southwest Airlines | 41371 | 1253541 |
| &nbsp;&nbsp;&nbsp;Stanley Black & Decker | 12187 | 825304 |
| &nbsp;&nbsp;&nbsp;Trane Technologies | 22804 | 10231015 |
| &nbsp;&nbsp;&nbsp;TransDigm Group | 6602 | 8638783 |
| &nbsp;&nbsp;&nbsp;Uber Technologies \* | 164100 | 15835650 |
| &nbsp;&nbsp;&nbsp;Union Pacific | 46670 | 10284668 |
| &nbsp;&nbsp;&nbsp;United Airlines Holdings \* | 25440 | 2392378 |
| &nbsp;&nbsp;&nbsp;United Parcel Service, Cl B | 57921 | 5584743 |
| &nbsp;&nbsp;&nbsp;United Rentals | 5616 | 4892547 |
| &nbsp;&nbsp;&nbsp;Veralto | 23820 | 2350558 |
| &nbsp;&nbsp;&nbsp;Verisk Analytics, Cl A | 14884 | 3256024 |
| &nbsp;&nbsp;&nbsp;Waste Management | 43756 | 8741136 |
| &nbsp;&nbsp;&nbsp;Westinghouse Air Brake Technologies | 20926 | 4278111 |

---

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS EQUITY INDEX FUND**

**OCTOBER 31, 2025**

---

| | | | |
|:---|:---|:---|:---|
| **COMMON STOCK — continued** | **COMMON STOCK — continued** | **COMMON STOCK — continued** | **COMMON STOCK — continued** |
|  | **Shares** | **Value** | **Value** |
| **INDUSTRIALS— continued** | **INDUSTRIALS— continued** | **INDUSTRIALS— continued** | **INDUSTRIALS— continued** |
| &nbsp;&nbsp;&nbsp;WW Grainger | 5046 | $| 4940034 |
| &nbsp;&nbsp;&nbsp;Xylem | 29591 |  | 4463802 |
|  |  |  | 359868511 |
| **INFORMATION TECHNOLOGY — 36.6%** | **INFORMATION TECHNOLOGY — 36.6%** | **INFORMATION TECHNOLOGY — 36.6%** | **INFORMATION TECHNOLOGY — 36.6%** |
| &nbsp;&nbsp;&nbsp;Accenture, Cl A | 49016 |  | 12258902 |
| &nbsp;&nbsp;&nbsp;Adobe \* | 33383 |  | 11360569 |
| &nbsp;&nbsp;&nbsp;Advanced Micro Devices \* | 128279 |  | 32854817 |
| &nbsp;&nbsp;&nbsp;Akamai Technologies \* | 11255 |  | 845250 |
| &nbsp;&nbsp;&nbsp;Amphenol, Cl A | 109390 |  | 15242403 |
| &nbsp;&nbsp;&nbsp;Analog Devices | 44866 |  | 10504477 |
| &nbsp;&nbsp;&nbsp;Apple | 1197842 |  | 323860542 |
| &nbsp;&nbsp;&nbsp;Applied Materials | 65855 |  | 15350801 |
| &nbsp;&nbsp;&nbsp;AppLovin, Cl A \* | 21305 |  | 13578316 |
| &nbsp;&nbsp;&nbsp;Arista Networks \* | 82850 |  | 13064617 |
| &nbsp;&nbsp;&nbsp;Autodesk \* | 16841 |  | 5074867 |
| &nbsp;&nbsp;&nbsp;Broadcom | 375147 |  | 138665586 |
| &nbsp;&nbsp;&nbsp;Cadence Design Systems \* | 21444 |  | 7262868 |
| &nbsp;&nbsp;&nbsp;CDW | 10314 |  | 1643742 |
| &nbsp;&nbsp;&nbsp;Cisco Systems | 352250 |  | 25752997 |
| &nbsp;&nbsp;&nbsp;Cognizant Technology Solutions, Cl A | 38401 |  | 2798665 |
| &nbsp;&nbsp;&nbsp;Crowdstrike Holdings, Cl A \* | 19615 |  | 10651141 |
| &nbsp;&nbsp;&nbsp;Datadog, Cl A \* | 25440 |  | 4141886 |
| &nbsp;&nbsp;&nbsp;Dell Technologies, Cl C | 23860 |  | 3865559 |
| &nbsp;&nbsp;&nbsp;EPAM Systems \* | 4383 |  | 716796 |
| &nbsp;&nbsp;&nbsp;F5 \* | 4521 |  | 1144039 |
| &nbsp;&nbsp;&nbsp;Fair Isaac \* | 1889 |  | 3134852 |
| &nbsp;&nbsp;&nbsp;First Solar \* | 8440 |  | 2252974 |
| &nbsp;&nbsp;&nbsp;Fortinet \* | 51270 |  | 4431266 |
| &nbsp;&nbsp;&nbsp;Gartner \* | 5960 |  | 1480106 |
| &nbsp;&nbsp;&nbsp;Gen Digital | 44148 |  | 1163741 |
| &nbsp;&nbsp;&nbsp;GoDaddy, Cl A \* | 10895 |  | 1450451 |
| &nbsp;&nbsp;&nbsp;Hewlett Packard Enterprise | 103219 |  | 2520608 |
| &nbsp;&nbsp;&nbsp;HP | 73923 |  | 2045449 |
| &nbsp;&nbsp;&nbsp;Intel \* | 344466 |  | 13775195 |
| &nbsp;&nbsp;&nbsp;International Business Machines | 73307 |  | 22535305 |
| &nbsp;&nbsp;&nbsp;Intuit | 21952 |  | 14654058 |
| &nbsp;&nbsp;&nbsp;Jabil | 8446 |  | 1865637 |
| &nbsp;&nbsp;&nbsp;Keysight Technologies \* | 13544 |  | 2478010 |
| &nbsp;&nbsp;&nbsp;KLA | 11788 |  | 14248627 |
| &nbsp;&nbsp;&nbsp;Lam Research | 105796 |  | 16658638 |
| &nbsp;&nbsp;&nbsp;Microchip Technology | 42428 |  | 2648356 |
| &nbsp;&nbsp;&nbsp;Micron Technology | 88768 |  | 19863615 |
| &nbsp;&nbsp;&nbsp;Microsoft | 594733 |  | 307958695 |
| &nbsp;&nbsp;&nbsp;Monolithic Power Systems | 3769 |  | 3787845 |
| &nbsp;&nbsp;&nbsp;Motorola Solutions | 13111 |  | 5332375 |
| &nbsp;&nbsp;&nbsp;NetApp | 15747 |  | 1854682 |
| &nbsp;&nbsp;&nbsp;NVIDIA | 1934507 |  | 391718322 |
| &nbsp;&nbsp;&nbsp;NXP Semiconductors | 21204 |  | 4434180 |
| &nbsp;&nbsp;&nbsp;ON Semiconductor \* | 32200 |  | 1612576 |

---

---

| | | | |
|:---|:---|:---|:---|
| **COMMON STOCK — continued** | **COMMON STOCK — continued** | **COMMON STOCK — continued** | **COMMON STOCK — continued** |
|  | **Shares** | **Value** | **Value** |
| **INFORMATION TECHNOLOGY— continued** | **INFORMATION TECHNOLOGY— continued** | **INFORMATION TECHNOLOGY— continued** | **INFORMATION TECHNOLOGY— continued** |
| &nbsp;&nbsp;&nbsp;Oracle | 130416 | $| 34248546 |
| &nbsp;&nbsp;&nbsp;Palantir Technologies, Cl A \* | 178975 |  | 35879118 |
| &nbsp;&nbsp;&nbsp;Palo Alto Networks \* | 52564 |  | 11576695 |
| &nbsp;&nbsp;&nbsp;PTC \* | 9427 |  | 1871637 |
| &nbsp;&nbsp;&nbsp;QUALCOMM | 94182 |  | 17037524 |
| &nbsp;&nbsp;&nbsp;Roper Technologies | 8469 |  | 3778444 |
| &nbsp;&nbsp;&nbsp;Salesforce | 75233 |  | 19591426 |
| &nbsp;&nbsp;&nbsp;Seagate Technology Holdings | 17169 |  | 4393204 |
| &nbsp;&nbsp;&nbsp;ServiceNow \* | 16369 |  | 15047694 |
| &nbsp;&nbsp;&nbsp;Skyworks Solutions | 11689 |  | 908469 |
| &nbsp;&nbsp;&nbsp;Super Micro Computer \* | 39500 |  | 2052420 |
| &nbsp;&nbsp;&nbsp;Synopsys \* | 14562 |  | 6608527 |
| &nbsp;&nbsp;&nbsp;TE Connectivity | 25872 |  | 6390643 |
| &nbsp;&nbsp;&nbsp;Teradyne | 12518 |  | 2275272 |
| &nbsp;&nbsp;&nbsp;Texas Instruments | 79257 |  | 12796835 |
| &nbsp;&nbsp;&nbsp;Trimble \* | 18700 |  | 1491325 |
| &nbsp;&nbsp;&nbsp;Tyler Technologies \* | 3405 |  | 1621665 |
| &nbsp;&nbsp;&nbsp;VeriSign | 6616 |  | 1586517 |
| &nbsp;&nbsp;&nbsp;Western Digital | 27301 |  | 4100883 |
| &nbsp;&nbsp;&nbsp;Workday, Cl A \* | 16998 |  | 4078160 |
| &nbsp;&nbsp;&nbsp;Zebra Technologies, Cl A \* | 4001 |  | 1077269 |
|  |  |  | 1682956676 |
| **MATERIALS — 1.8%** | **MATERIALS — 1.8%** | **MATERIALS — 1.8%** | **MATERIALS — 1.8%** |
| &nbsp;&nbsp;&nbsp;Air Products and Chemicals | 17514 |  | 4248721 |
| &nbsp;&nbsp;&nbsp;Albemarle | 9260 |  | 909610 |
| &nbsp;&nbsp;&nbsp;Amcor | 181435 |  | 1433337 |
| &nbsp;&nbsp;&nbsp;Avery Dennison | 6137 |  | 1073300 |
| &nbsp;&nbsp;&nbsp;Ball | 21368 |  | 1004296 |
| &nbsp;&nbsp;&nbsp;CF Industries Holdings | 12698 |  | 1057616 |
| &nbsp;&nbsp;&nbsp;Corteva | 54039 |  | 3320156 |
| &nbsp;&nbsp;&nbsp;Dow | 55828 |  | 1331498 |
| &nbsp;&nbsp;&nbsp;DuPont de Nemours | 32965 |  | 2691592 |
| &nbsp;&nbsp;&nbsp;Eastman Chemical | 9079 |  | 540382 |
| &nbsp;&nbsp;&nbsp;Ecolab | 22846 |  | 5857714 |
| &nbsp;&nbsp;&nbsp;Freeport-McMoRan | 112951 |  | 4710057 |
| &nbsp;&nbsp;&nbsp;International Flavors & Fragrances | 20167 |  | 1269916 |
| &nbsp;&nbsp;&nbsp;International Paper | 41530 |  | 1604719 |
| &nbsp;&nbsp;&nbsp;Linde | 44366 |  | 18558298 |
| &nbsp;&nbsp;&nbsp;LyondellBasell Industries, Cl A | 20295 |  | 942094 |
| &nbsp;&nbsp;&nbsp;Martin Marietta Materials | 4746 |  | 2909773 |
| &nbsp;&nbsp;&nbsp;Mosaic | 24966 |  | 685317 |
| &nbsp;&nbsp;&nbsp;Newmont | 100301 |  | 8121372 |
| &nbsp;&nbsp;&nbsp;Nucor | 18063 |  | 2710353 |
| &nbsp;&nbsp;&nbsp;Packaging Corp of America | 7033 |  | 1376780 |
| &nbsp;&nbsp;&nbsp;PPG Industries | 17785 |  | 1738484 |
| &nbsp;&nbsp;&nbsp;Sherwin-Williams | 18248 |  | 6294465 |
| &nbsp;&nbsp;&nbsp;Smurfit WestRock | 41041 |  | 1515234 |
| &nbsp;&nbsp;&nbsp;Steel Dynamics | 10889 |  | 1707395 |
| &nbsp;&nbsp;&nbsp;Vulcan Materials | 10398 |  | 3010221 |
|  |  |  | 80622700 |

---

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS EQUITY INDEX FUND**

**OCTOBER 31, 2025**

---

| | | |
|:---|:---|:---|
| **COMMON STOCK — continued** | **COMMON STOCK — continued** | **COMMON STOCK — continued** |
|  | **Shares** | **Value** |
| **REAL ESTATE — 2.3%** | **REAL ESTATE — 2.3%** | **REAL ESTATE — 2.3%** |
| &nbsp;&nbsp;&nbsp;American Tower ‡ | 42447 | $7597164 |
| &nbsp;&nbsp;&nbsp;AvalonBay Communities ‡ | 14284 | 2484273 |
| &nbsp;&nbsp;&nbsp;BXP ‡ | 11572 | 823811 |
| &nbsp;&nbsp;&nbsp;Camden Property Trust ‡ | 8367 | 832349 |
| &nbsp;&nbsp;&nbsp;CBRE Group, Cl A \* | 31775 | 4843463 |
| &nbsp;&nbsp;&nbsp;CoStar Group \* | 46000 | 3165260 |
| &nbsp;&nbsp;&nbsp;Crown Castle International ‡ | 34308 | 3095268 |
| &nbsp;&nbsp;&nbsp;Digital Realty Trust ‡ | 39014 | 6648376 |
| &nbsp;&nbsp;&nbsp;Equinix ‡ | 9763 | 8259596 |
| &nbsp;&nbsp;&nbsp;Equity Residential ‡ | 34182 | 2031778 |
| &nbsp;&nbsp;&nbsp;Essex Property Trust ‡ | 5068 | 1275970 |
| &nbsp;&nbsp;&nbsp;Extra Space Storage ‡ | 16704 | 2230652 |
| &nbsp;&nbsp;&nbsp;Federal Realty Investment Trust ‡ | 6166 | 593108 |
| &nbsp;&nbsp;&nbsp;Host Hotels & Resorts ‡ | 50291 | 805662 |
| &nbsp;&nbsp;&nbsp;Invitation Homes ‡ | 44400 | 1249860 |
| &nbsp;&nbsp;&nbsp;Iron Mountain ‡ | 23243 | 2392867 |
| &nbsp;&nbsp;&nbsp;Kimco Realty ‡ | 53255 | 1100248 |
| &nbsp;&nbsp;&nbsp;Mid-America Apartment Communities ‡ | 9213 | 1181383 |
| &nbsp;&nbsp;&nbsp;Prologis ‡ | 83488 | 10360026 |
| &nbsp;&nbsp;&nbsp;Public Storage ‡ | 12427 | 3461665 |
| &nbsp;&nbsp;&nbsp;Realty Income ‡ | 156030 | 9046619 |
| &nbsp;&nbsp;&nbsp;Regency Centers ‡ | 12887 | 888559 |
| &nbsp;&nbsp;&nbsp;SBA Communications, Cl A ‡ | 8450 | 1618006 |
| &nbsp;&nbsp;&nbsp;Simon Property Group ‡ | 41783 | 7343780 |
| &nbsp;&nbsp;&nbsp;UDR ‡ | 23683 | 797880 |
| &nbsp;&nbsp;&nbsp;Welltower ‡ | 122971 | 22262670 |
| &nbsp;&nbsp;&nbsp;Weyerhaeuser ‡ | 56769 | 1305687 |
|  |  | 107695980 |
| **UTILITIES — 2.5%** | **UTILITIES — 2.5%** | **UTILITIES — 2.5%** |
| &nbsp;&nbsp;&nbsp;Alliant Energy | 38300 | 2559206 |
| &nbsp;&nbsp;&nbsp;American Water Works | 20342 | 2612523 |
| &nbsp;&nbsp;&nbsp;Atmos Energy | 28946 | 4970607 |
| &nbsp;&nbsp;&nbsp;CenterPoint Energy | 118686 | 4538553 |
| &nbsp;&nbsp;&nbsp;CMS Energy | 43337 | 3187436 |
| &nbsp;&nbsp;&nbsp;Consolidated Edison | 53620 | 5223124 |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCK — continued** | **COMMON STOCK — continued** | **COMMON STOCK — continued** |
|  | **Shares** | **Value** |
| **UTILITIES— continued** | **UTILITIES— continued** | **UTILITIES— continued** |
| &nbsp;&nbsp;&nbsp;Constellation Energy | 24585 | $9268545 |
| &nbsp;&nbsp;&nbsp;Dominion Energy | 121267 | 7117160 |
| &nbsp;&nbsp;&nbsp;Edison International | 30287 | 1677294 |
| &nbsp;&nbsp;&nbsp;Entergy | 77130 | 7411422 |
| &nbsp;&nbsp;&nbsp;Eversource Energy | 35469 | 2617967 |
| &nbsp;&nbsp;&nbsp;Exelon | 173713 | 8011644 |
| &nbsp;&nbsp;&nbsp;FirstEnergy | 89457 | 4099814 |
| &nbsp;&nbsp;&nbsp;NextEra Energy | 212888 | 17329083 |
| &nbsp;&nbsp;&nbsp;NRG Energy | 16104 | 2767633 |
| &nbsp;&nbsp;&nbsp;PG&E | 173000 | 2761080 |
| &nbsp;&nbsp;&nbsp;Pinnacle West Capital | 9404 | 832442 |
| &nbsp;&nbsp;&nbsp;Public Service Enterprise Group | 59646 | 4805082 |
| &nbsp;&nbsp;&nbsp;Sempra | 90624 | 8331971 |
| &nbsp;&nbsp;&nbsp;Southern | 166043 | 15614684 |
|  |  | 115737270 |
| &nbsp;&nbsp;&nbsp;Total Common Stock |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $1,752,764,421) |  | 4588365756 |
| **RIGHTS — 0.0%** | **RIGHTS — 0.0%** | **RIGHTS — 0.0%** |
|  | **Number of**<br> **Rights** |  |
| &nbsp;&nbsp;&nbsp;Abiomed \* (B)(C) | 5594 | $— |
| &nbsp;&nbsp;&nbsp;Total Rights |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $–) |  |  |
| **SHORT-TERM INVESTMENT — 0.0%** | **SHORT-TERM INVESTMENT — 0.0%** | **SHORT-TERM INVESTMENT — 0.0%** |
|  | **Shares** |  |
| &nbsp;&nbsp;&nbsp;State Street Institutional U.S. Government Money Market Fund, Institutional Class, 4.290%, (D) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $391,664) | 391664 | $391664 |
| &nbsp;&nbsp;&nbsp;Total Short-Term Investment |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $391,664) |  | 391664 |
| &nbsp;&nbsp;&nbsp;Total Investments in Securities— 99.7% | &nbsp;&nbsp;&nbsp;Total Investments in Securities— 99.7% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $1,753,156,085) |  | $4588757420 |

---

Percentages are based on Net Assets of $4,600,897,729.

A list of the open futures contracts held by the Fund at October 31, 2025, is as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Type of Contract | Number of<br> Contracts | Expiration<br> Date | Notional Amount | Value | Unrealized<br> Appreciation |
| Long Contracts |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;S&P 500 Index E-MINI | 36 | Dec-2025 | $12370250 | $12373200 | $2950 |

---

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS EQUITY INDEX FUND**

**OCTOBER 31, 2025**

---

| | |
|:---|:---|
| \* | Non-income producing security. |
| ‡ | Real Estate Investment Trust. |
| # | More narrow industries are utilized for compliance purposes, whereas broad sectors are utilized for reporting purposes. |
| (A) | This security or a partial position of this security is on loan at October 31, 2025. The total market value of securities on loan at October 31, 2025 was $378,445. |
| (B) | Level 3 security in accordance with fair value hierarchy. |
| (C) | Expiration date not available. |
| (D) | This security was purchased with cash collateral received from securities lending. The total was of such securities as of October 31, 2025, was $391,664. |

---

Cl — Class

The following is a summary of the inputs used as of October 31, 2025, in valuing the Fund's investments and other financial instruments carried at market value:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Investments in Securities | Level 1 | Level 2 | Level 3^ |  | Total |
| &nbsp;&nbsp;&nbsp;Common Stock |  |  |  |  |  |
| Total Common Stock | $4588365756 | $— | $— |  | $4588365756 |
| &nbsp;&nbsp;&nbsp;Short-Term Investment | 391664 |  |  |  | 391664 |
| &nbsp;&nbsp;&nbsp;Rights |  |  |  | # |  |
| Total Investments in Securities | $4588757420 | $— | $— |  | $4588757420 |
| Other Financial Instruments | Level 1 | Level 2 | Level 3 |  | Total |
| &nbsp;&nbsp;&nbsp;Futures Contracts\* |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Unrealized Appreciation | $2950 | $— | $— |  | $2950 |
| Total Other Financial Instruments | $2950 | $— | $— |  | $2950 |

---

---

| | |
|:---|:---|
| ^ | A reconciliation of Level 3 investments, including certain disclosures related to significant inputs used in valuing Level 3 investments is only presented when the Fund has over 1% of Level 3 investments at the end of the period in relation to net assets. |

---

# Security or securities with a market value of $0.

\* Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument.

Amounts designated as "–" are $0 or have been round to $0.

For more information on valuation inputs, see Note 2 — Significant Accounting Policies in Notes to Financial Statements.

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS SMALL-CAP FUND**

**OCTOBER 31, 2025**

**SCHEDULE OF INVESTMENTS**

**COMMON STOCK — 98.9%**

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMUNICATION SERVICES — 3.2%** | **COMMUNICATION SERVICES — 3.2%** | **COMMUNICATION SERVICES — 3.2%** |
| &nbsp;&nbsp;&nbsp;Angi, Cl A \* | 18012 | $239018 |
| &nbsp;&nbsp;&nbsp;Cable One | 2048 | 304230 |
| &nbsp;&nbsp;&nbsp;Cargurus, Cl A \* | 31974 | 1122927 |
| &nbsp;&nbsp;&nbsp;Cars.com \* | 23579 | 253239 |
| &nbsp;&nbsp;&nbsp;Cinemark Holdings | 39062 | 1055065 |
| &nbsp;&nbsp;&nbsp;Cogent Communications Holdings | 19614 | 809078 |
| &nbsp;&nbsp;&nbsp;DoubleVerify Holdings, Cl Rights \* | 55639 | 633172 |
| &nbsp;&nbsp;&nbsp;Gogo \* | 34348 | 312567 |
| &nbsp;&nbsp;&nbsp;IAC \* | 27327 | 880476 |
| &nbsp;&nbsp;&nbsp;John Wiley & Sons, Cl A | 15403 | 567909 |
| &nbsp;&nbsp;&nbsp;Lumen Technologies \* | 362679 | 3728340 |
| &nbsp;&nbsp;&nbsp;Madison Square Garden Sports \* | 6737 | 1444345 |
| &nbsp;&nbsp;&nbsp;QuinStreet \* | 22169 | 327880 |
| &nbsp;&nbsp;&nbsp;Scholastic | 9375 | 268781 |
| &nbsp;&nbsp;&nbsp;Shenandoah Telecommunications | 22726 | 279984 |
| &nbsp;&nbsp;&nbsp;Shutterstock | 9044 | 226371 |
| &nbsp;&nbsp;&nbsp;TEGNA | 60446 | 1188973 |
| &nbsp;&nbsp;&nbsp;Telephone and Data Systems | 38689 | 1501907 |
| &nbsp;&nbsp;&nbsp;Thryv Holdings \* | 18482 | 142496 |
| &nbsp;&nbsp;&nbsp;TripAdvisor \* | 46306 | 743674 |
| &nbsp;&nbsp;&nbsp;Uniti Group \*‡ | 79542 | 458160 |
| &nbsp;&nbsp;&nbsp;Yelp, Cl A \* | 22509 | 742347 |
| &nbsp;&nbsp;&nbsp;Ziff Davis \* | 16563 | 561485 |
|  |  | 17792424 |
| **CONSUMER DISCRETIONARY — 12.7%** | **CONSUMER DISCRETIONARY — 12.7%** | **CONSUMER DISCRETIONARY — 12.7%** |
| &nbsp;&nbsp;&nbsp;Abercrombie & Fitch, Cl A \* | 500 | 36275 |
| &nbsp;&nbsp;&nbsp;Academy Sports & Outdoors | 24977 | 1196149 |
| &nbsp;&nbsp;&nbsp;Acushnet Holdings | 10359 | 801061 |
| &nbsp;&nbsp;&nbsp;Adient \* | 30527 | 707921 |
| &nbsp;&nbsp;&nbsp;Adtalem Global Education \* | 14019 | 1374142 |
| &nbsp;&nbsp;&nbsp;Advance Auto Parts | 23395 | 1102606 |
| &nbsp;&nbsp;&nbsp;American Axle & Manufacturing Holdings \* | 44586 | 276433 |
| &nbsp;&nbsp;&nbsp;American Eagle Outfitters | 61133 | 1021532 |
| &nbsp;&nbsp;&nbsp;Asbury Automotive Group \* | 7387 | 1732990 |
| &nbsp;&nbsp;&nbsp;BJ's Restaurants \* | 11308 | 384020 |
| &nbsp;&nbsp;&nbsp;Bloomin' Brands | 38190 | 260838 |
| &nbsp;&nbsp;&nbsp;Boot Barn Holdings \* | 11695 | 2217957 |
| &nbsp;&nbsp;&nbsp;BorgWarner | 81305 | 3492863 |
| &nbsp;&nbsp;&nbsp;Brinker International \* | 17509 | 1902528 |
| &nbsp;&nbsp;&nbsp;Buckle | 11317 | 620171 |
| &nbsp;&nbsp;&nbsp;Caleres | 12601 | 139115 |
| &nbsp;&nbsp;&nbsp;CarMax \* | 56808 | 2380823 |
| &nbsp;&nbsp;&nbsp;Carter's | 13689 | 429835 |
| &nbsp;&nbsp;&nbsp;Cavco Industries \* | 3028 | 1604234 |
| &nbsp;&nbsp;&nbsp;Century Communities | 10319 | 612949 |
| &nbsp;&nbsp;&nbsp;Champion Homes \* | 22069 | 1505768 |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCK — continued** | **COMMON STOCK — continued** | **COMMON STOCK — continued** |
|  | **Shares** | **Value** |
| **CONSUMER DISCRETIONARY— continued** | **CONSUMER DISCRETIONARY— continued** | **CONSUMER DISCRETIONARY— continued** |
| &nbsp;&nbsp;&nbsp;Cheesecake Factory (A) | 18266 | $909647 |
| &nbsp;&nbsp;&nbsp;Cracker Barrel Old Country Store (A) | 10856 | 365847 |
| &nbsp;&nbsp;&nbsp;Dana | 49278 | 1000343 |
| &nbsp;&nbsp;&nbsp;Dave & Buster's Entertainment \* | 15551 | 228444 |
| &nbsp;&nbsp;&nbsp;Dorman Products \* | 10440 | 1400317 |
| &nbsp;&nbsp;&nbsp;Dream Finders Homes, Cl A \* | 13437 | 266053 |
| &nbsp;&nbsp;&nbsp;Ethan Allen Interiors | 8675 | 209675 |
| &nbsp;&nbsp;&nbsp;Etsy \* | 37369 | 2316878 |
| &nbsp;&nbsp;&nbsp;Fox Factory Holding \* | 15831 | 350023 |
| &nbsp;&nbsp;&nbsp;Frontdoor \* | 28851 | 1916572 |
| &nbsp;&nbsp;&nbsp;Gentherm \* | 11467 | 421986 |
| &nbsp;&nbsp;&nbsp;G-III Apparel Group \* | 14319 | 384465 |
| &nbsp;&nbsp;&nbsp;Green Brick Partners \* | 11458 | 741791 |
| &nbsp;&nbsp;&nbsp;Group 1 Automotive | 4764 | 1893881 |
| &nbsp;&nbsp;&nbsp;Guess? | 12245 | 207920 |
| &nbsp;&nbsp;&nbsp;Hanesbrands \* | 141795 | 937265 |
| &nbsp;&nbsp;&nbsp;Helen of Troy \* | 12148 | 226317 |
| &nbsp;&nbsp;&nbsp;Installed Building Products | 8844 | 2195346 |
| &nbsp;&nbsp;&nbsp;Kohl's | 44199 | 719118 |
| &nbsp;&nbsp;&nbsp;Kontoor Brands | 19743 | 1597604 |
| &nbsp;&nbsp;&nbsp;La-Z-Boy, Cl Z | 15468 | 490336 |
| &nbsp;&nbsp;&nbsp;LCI Industries | 9109 | 942690 |
| &nbsp;&nbsp;&nbsp;Leggett & Platt | 53078 | 495749 |
| &nbsp;&nbsp;&nbsp;LGI Homes \* | 8719 | 355822 |
| &nbsp;&nbsp;&nbsp;M/I Homes \* | 10272 | 1285952 |
| &nbsp;&nbsp;&nbsp;MarineMax \* | 9108 | 225605 |
| &nbsp;&nbsp;&nbsp;Matthews International, Cl A | 16170 | 378701 |
| &nbsp;&nbsp;&nbsp;Meritage Homes | 27782 | 1876952 |
| &nbsp;&nbsp;&nbsp;Mister Car Wash \* | 58340 | 326121 |
| &nbsp;&nbsp;&nbsp;Monro | 13472 | 197365 |
| &nbsp;&nbsp;&nbsp;National Vision Holdings \* | 30811 | 793383 |
| &nbsp;&nbsp;&nbsp;Oxford Industries | 5731 | 211187 |
| &nbsp;&nbsp;&nbsp;Papa John's International | 14182 | 720587 |
| &nbsp;&nbsp;&nbsp;Patrick Industries | 12504 | 1305042 |
| &nbsp;&nbsp;&nbsp;Perdoceo Education | 24877 | 790094 |
| &nbsp;&nbsp;&nbsp;Phinia | 14618 | 758820 |
| &nbsp;&nbsp;&nbsp;Pursuit Attractions & Hospitality \* | 11439 | 405856 |
| &nbsp;&nbsp;&nbsp;Sabre \* | 198189 | 405296 |
| &nbsp;&nbsp;&nbsp;Sally Beauty Holdings \* | 37161 | 561503 |
| &nbsp;&nbsp;&nbsp;Shake Shack, Cl A \* | 16360 | 1578904 |
| &nbsp;&nbsp;&nbsp;Shoe Carnival | 6751 | 123746 |
| &nbsp;&nbsp;&nbsp;Signet Jewelers | 15542 | 1536327 |
| &nbsp;&nbsp;&nbsp;Six Flags Entertainment \* | 44758 | 1028539 |
| &nbsp;&nbsp;&nbsp;Sonic Automotive, Cl A | 5569 | 353799 |
| &nbsp;&nbsp;&nbsp;Sonos \* | 49335 | 847082 |
| &nbsp;&nbsp;&nbsp;Standard Motor Products | 7849 | 291433 |
| &nbsp;&nbsp;&nbsp;Steven Madden | 28347 | 961247 |
| &nbsp;&nbsp;&nbsp;Strategic Education | 10135 | 770057 |
| &nbsp;&nbsp;&nbsp;Stride \* | 17028 | 1158585 |

---

*The accompanying notes are an integral part of the financial statements.* 

**CATHOLIC RESPONSIBLE INVESTMENTS SMALL-CAP FUND**

**OCTOBER 31, 2025**

---

| | | | |
|:---|:---|:---|:---|
| **COMMON STOCK — continued** | **COMMON STOCK — continued** | **COMMON STOCK — continued** | **COMMON STOCK — continued** |
|  | **Shares** | **Value** | **Value** |
| **CONSUMER DISCRETIONARY— continued** | **CONSUMER DISCRETIONARY— continued** | **CONSUMER DISCRETIONARY— continued** | **CONSUMER DISCRETIONARY— continued** |
| &nbsp;&nbsp;&nbsp;Topgolf Callaway Brands \* | 59267 | $| 557702 |
| &nbsp;&nbsp;&nbsp;Tri Pointe Homes \* | 32879 |  | 1047196 |
| &nbsp;&nbsp;&nbsp;United Parks & Resorts \* | 11920 |  | 576928 |
| &nbsp;&nbsp;&nbsp;Upbound Group, Cl A | 19578 |  | 379422 |
| &nbsp;&nbsp;&nbsp;Urban Outfitters \* | 20209 |  | 1305703 |
| &nbsp;&nbsp;&nbsp;Victoria's Secret \* | 31323 |  | 1104136 |
| &nbsp;&nbsp;&nbsp;Wendy's | 65282 |  | 557508 |
| &nbsp;&nbsp;&nbsp;Winnebago Industries | 10532 |  | 397162 |
| &nbsp;&nbsp;&nbsp;Wolverine World Wide | 32738 |  | 743153 |
| &nbsp;&nbsp;&nbsp;XPEL \* | 9462 |  | 322654 |
|  |  |  | 70258046 |
| **CONSUMER STAPLES — 2.4%** | **CONSUMER STAPLES — 2.4%** | **CONSUMER STAPLES — 2.4%** | **CONSUMER STAPLES — 2.4%** |
| &nbsp;&nbsp;&nbsp;Andersons | 13501 |  | 625231 |
| &nbsp;&nbsp;&nbsp;Cal-Maine Foods | 17468 |  | 1533690 |
| &nbsp;&nbsp;&nbsp;Central Garden & Pet \* | 3080 |  | 94464 |
| &nbsp;&nbsp;&nbsp;Central Garden & Pet, Cl A \* | 19395 |  | 539375 |
| &nbsp;&nbsp;&nbsp;Chefs' Warehouse \* | 14501 |  | 855559 |
| &nbsp;&nbsp;&nbsp;Edgewell Personal Care | 17458 |  | 338511 |
| &nbsp;&nbsp;&nbsp;Energizer Holdings | 22829 |  | 530318 |
| &nbsp;&nbsp;&nbsp;Fresh Del Monte Produce | 13539 |  | 478604 |
| &nbsp;&nbsp;&nbsp;Freshpet \* | 20515 |  | 1009543 |
| &nbsp;&nbsp;&nbsp;Grocery Outlet Holding \* | 41968 |  | 571184 |
| &nbsp;&nbsp;&nbsp;Inter Parfums | 6923 |  | 617185 |
| &nbsp;&nbsp;&nbsp;J & J Snack Foods | 6527 |  | 552511 |
| &nbsp;&nbsp;&nbsp;John B Sanfilippo & Son | 3442 |  | 216089 |
| &nbsp;&nbsp;&nbsp;MGP Ingredients | 9477 |  | 229343 |
| &nbsp;&nbsp;&nbsp;National Beverage \* | 10360 |  | 355037 |
| &nbsp;&nbsp;&nbsp;PriceSmart | 9599 |  | 1103309 |
| &nbsp;&nbsp;&nbsp;Reynolds Consumer Products | 20547 |  | 502169 |
| &nbsp;&nbsp;&nbsp;Simply Good Foods \* | 37673 |  | 737261 |
| &nbsp;&nbsp;&nbsp;Tootsie Roll Industries | 7491 |  | 264372 |
| &nbsp;&nbsp;&nbsp;TreeHouse Foods \* | 21940 |  | 399308 |
| &nbsp;&nbsp;&nbsp;United Natural Foods \* | 24688 |  | 929503 |
| &nbsp;&nbsp;&nbsp;WD-40 | 5085 |  | 987914 |
|  |  |  | 13470480 |
| **ENERGY — 4.4%** | **ENERGY — 4.4%** | **ENERGY — 4.4%** | **ENERGY — 4.4%** |
| &nbsp;&nbsp;&nbsp;Archrock | 70059 |  | 1770391 |
| &nbsp;&nbsp;&nbsp;Atlas Energy Solutions, Cl A (A) | 39859 |  | 493454 |
| &nbsp;&nbsp;&nbsp;Bristow Group \* | 11634 |  | 473504 |
| &nbsp;&nbsp;&nbsp;Cactus, Cl A | 28833 |  | 1273554 |
| &nbsp;&nbsp;&nbsp;California Resources | 29941 |  | 1412317 |
| &nbsp;&nbsp;&nbsp;Comstock Resources \* | 35036 |  | 656925 |
| &nbsp;&nbsp;&nbsp;Core Laboratories | 23785 |  | 379133 |
| &nbsp;&nbsp;&nbsp;Crescent Energy, Cl A | 85759 |  | 722948 |
| &nbsp;&nbsp;&nbsp;CVR Energy \* | 13794 |  | 490929 |
| &nbsp;&nbsp;&nbsp;Dorian LPG | 17273 |  | 498326 |
| &nbsp;&nbsp;&nbsp;Helix Energy Solutions Group \* | 70528 |  | 473948 |
| &nbsp;&nbsp;&nbsp;Helmerich & Payne | 42883 |  | 1126108 |
| &nbsp;&nbsp;&nbsp;Innovex International \* | 18717 |  | 375650 |
| &nbsp;&nbsp;&nbsp;International Seaways | 16937 |  | 867683 |
| &nbsp;&nbsp;&nbsp;Kinetik Holdings, Cl A (A) | 19916 |  | 766965 |

---

---

| | | | |
|:---|:---|:---|:---|
| **COMMON STOCK — continued** | **COMMON STOCK — continued** | **COMMON STOCK — continued** | **COMMON STOCK — continued** |
|  | **Shares** | **Value** | **Value** |
| **ENERGY— continued** | **ENERGY— continued** | **ENERGY— continued** | **ENERGY— continued** |
| &nbsp;&nbsp;&nbsp;Kodiak Gas Services | 27878 | $| 1028141 |
| &nbsp;&nbsp;&nbsp;Liberty Energy, Cl A | 67527 |  | 1222914 |
| &nbsp;&nbsp;&nbsp;Magnolia Oil & Gas, Cl A | 74441 |  | 1671945 |
| &nbsp;&nbsp;&nbsp;Noble | 52165 |  | 1531043 |
| &nbsp;&nbsp;&nbsp;Northern Oil and Gas | 42048 |  | 930522 |
| &nbsp;&nbsp;&nbsp;Par Pacific Holdings \* | 21006 |  | 839820 |
| &nbsp;&nbsp;&nbsp;Patterson-UTI Energy | 159290 |  | 998748 |
| &nbsp;&nbsp;&nbsp;REX American Resources \* | 13136 |  | 420746 |
| &nbsp;&nbsp;&nbsp;RPC | 55162 |  | 286842 |
| &nbsp;&nbsp;&nbsp;SM Energy | 50388 |  | 1052605 |
| &nbsp;&nbsp;&nbsp;Talos Energy \* | 63747 |  | 625358 |
| &nbsp;&nbsp;&nbsp;Tidewater \* | 19462 |  | 984583 |
| &nbsp;&nbsp;&nbsp;Vital Energy \* | 18821 |  | 295678 |
| &nbsp;&nbsp;&nbsp;World Kinect | 26617 |  | 688049 |
|  |  |  | 24358829 |
| **FINANCIALS — 17.4%** | **FINANCIALS — 17.4%** | **FINANCIALS — 17.4%** | **FINANCIALS — 17.4%** |
| &nbsp;&nbsp;&nbsp;Acadian Asset Management | 9957 |  | 478932 |
| &nbsp;&nbsp;&nbsp;Adamas Trust ‡ | 31474 |  | 209932 |
| &nbsp;&nbsp;&nbsp;Ameris Bancorp | 24129 |  | 1728119 |
| &nbsp;&nbsp;&nbsp;AMERISAFE | 7131 |  | 285810 |
| &nbsp;&nbsp;&nbsp;Apollo Commercial Real Estate Finance ‡ | 49073 |  | 480425 |
| &nbsp;&nbsp;&nbsp;Arbor Realty Trust ‡(A) | 72253 |  | 729033 |
| &nbsp;&nbsp;&nbsp;ARMOUR Residential REIT ‡ | 45137 |  | 732122 |
| &nbsp;&nbsp;&nbsp;Artisan Partners Asset |  |  |  |
| &nbsp;&nbsp;&nbsp;Management, Cl A | 26478 |  | 1156029 |
| &nbsp;&nbsp;&nbsp;Assured Guaranty | 16809 |  | 1354469 |
| &nbsp;&nbsp;&nbsp;Atlantic Union Bankshares | 53546 |  | 1741316 |
| &nbsp;&nbsp;&nbsp;Axos Financial \* | 21181 |  | 1651694 |
| &nbsp;&nbsp;&nbsp;Banc of California | 49257 |  | 835891 |
| &nbsp;&nbsp;&nbsp;BancFirst | 7760 |  | 844754 |
| &nbsp;&nbsp;&nbsp;Bancorp \* | 17308 |  | 1131424 |
| &nbsp;&nbsp;&nbsp;Bank of Hawaii | 14942 |  | 970184 |
| &nbsp;&nbsp;&nbsp;BankUnited | 28260 |  | 1132661 |
| &nbsp;&nbsp;&nbsp;Banner | 12995 |  | 784768 |
| &nbsp;&nbsp;&nbsp;Beacon Financial Corporation | 31236 |  | 760292 |
| &nbsp;&nbsp;&nbsp;BGC Group, Cl A | 137089 |  | 1252993 |
| &nbsp;&nbsp;&nbsp;Blackstone Mortgage Trust, Cl A ‡ | 59916 |  | 1107248 |
| &nbsp;&nbsp;&nbsp;Bread Financial Holdings | 17525 |  | 1097941 |
| &nbsp;&nbsp;&nbsp;Capitol Federal Financial | 45913 |  | 277315 |
| &nbsp;&nbsp;&nbsp;Cathay General Bancorp | 25960 |  | 1179882 |
| &nbsp;&nbsp;&nbsp;Central Pacific Financial | 10138 |  | 289034 |
| &nbsp;&nbsp;&nbsp;City Holding | 5446 |  | 641974 |
| &nbsp;&nbsp;&nbsp;Cohen & Steers | 10347 |  | 706907 |
| &nbsp;&nbsp;&nbsp;Community Financial System | 19860 |  | 1101833 |
| &nbsp;&nbsp;&nbsp;Customers Bancorp \* | 11232 |  | 753892 |
| &nbsp;&nbsp;&nbsp;CVB Financial | 48675 |  | 894160 |
| &nbsp;&nbsp;&nbsp;Dime Community Bancshares | 16071 |  | 421864 |
| &nbsp;&nbsp;&nbsp;Donnelley Financial Solutions \* | 10331 |  | 474709 |
| &nbsp;&nbsp;&nbsp;Eagle Bancorp | 15701 |  | 262992 |
| &nbsp;&nbsp;&nbsp;Ellington Financial ‡ | 37533 |  | 499940 |

---

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS SMALL-CAP FUND**

**OCTOBER 31, 2025**

---

| | | |
|:---|:---|:---|
| **COMMON STOCK — continued** | **COMMON STOCK — continued** | **COMMON STOCK — continued** |
|  | **Shares** | **Value** |
| **FINANCIALS— continued** | **FINANCIALS— continued** | **FINANCIALS— continued** |
| &nbsp;&nbsp;&nbsp;Employers Holdings | 8834 | $336840 |
| &nbsp;&nbsp;&nbsp;Enact Holdings | 11085 | 395956 |
| &nbsp;&nbsp;&nbsp;Encore Capital Group \* | 9885 | 411018 |
| &nbsp;&nbsp;&nbsp;Enova International \* | 9598 | 1147633 |
| &nbsp;&nbsp;&nbsp;EVERTEC | 24040 | 684419 |
| &nbsp;&nbsp;&nbsp;EZCORP, Cl A \* | 21765 | 397211 |
| &nbsp;&nbsp;&nbsp;FB Financial | 15782 | 852386 |
| &nbsp;&nbsp;&nbsp;First BanCorp Puerto Rico | 59896 | 1167373 |
| &nbsp;&nbsp;&nbsp;First Bancorp Southern Pines | 15579 | 756205 |
| &nbsp;&nbsp;&nbsp;First Commonwealth Financial | 39151 | 598619 |
| &nbsp;&nbsp;&nbsp;First Financial Bancorp | 35978 | 842245 |
| &nbsp;&nbsp;&nbsp;First Hawaiian | 46826 | 1148642 |
| &nbsp;&nbsp;&nbsp;Franklin BSP Realty Trust ‡ | 30913 | 313458 |
| &nbsp;&nbsp;&nbsp;Fulton Financial | 68422 | 1188490 |
| &nbsp;&nbsp;&nbsp;Genworth Financial, Cl A \* | 154212 | 1301549 |
| &nbsp;&nbsp;&nbsp;Goosehead Insurance, Cl A | 10585 | 726872 |
| &nbsp;&nbsp;&nbsp;HA Sustainable Infrastructure Capital | 48555 | 1345459 |
| &nbsp;&nbsp;&nbsp;Hanmi Financial | 11222 | 296261 |
| &nbsp;&nbsp;&nbsp;HCI Group | 4095 | 835421 |
| &nbsp;&nbsp;&nbsp;Heritage Financial | 12757 | 283078 |
| &nbsp;&nbsp;&nbsp;Hilltop Holdings | 16570 | 535211 |
| &nbsp;&nbsp;&nbsp;Hope Bancorp | 48161 | 505209 |
| &nbsp;&nbsp;&nbsp;Horace Mann Educators | 15291 | 683661 |
| &nbsp;&nbsp;&nbsp;Independent Bank | 18755 | 1262024 |
| &nbsp;&nbsp;&nbsp;Jackson Financial, Cl A | 26835 | 2705236 |
| &nbsp;&nbsp;&nbsp;Lakeland Financial | 9593 | 547281 |
| &nbsp;&nbsp;&nbsp;Lincoln National | 63395 | 2662590 |
| &nbsp;&nbsp;&nbsp;MarketAxess Holdings | 14207 | 2273972 |
| &nbsp;&nbsp;&nbsp;Mercury General | 9990 | 772227 |
| &nbsp;&nbsp;&nbsp;Moelis, Cl A | 27871 | 1765070 |
| &nbsp;&nbsp;&nbsp;National Bank Holdings, Cl A | 14295 | 509760 |
| &nbsp;&nbsp;&nbsp;Navient | 25778 | 315265 |
| &nbsp;&nbsp;&nbsp;NBT Bancorp | 19686 | 796692 |
| &nbsp;&nbsp;&nbsp;NCR Atleos \* | 28135 | 1038181 |
| &nbsp;&nbsp;&nbsp;NMI Holdings, Cl A \* | 29147 | 1061825 |
| &nbsp;&nbsp;&nbsp;Northwest Bancshares | 54936 | 643301 |
| &nbsp;&nbsp;&nbsp;OFG Bancorp | 16727 | 646666 |
| &nbsp;&nbsp;&nbsp;Palomar Holdings \* | 10186 | 1161306 |
| &nbsp;&nbsp;&nbsp;Park National | 5374 | 817869 |
| &nbsp;&nbsp;&nbsp;Pathward Financial | 8625 | 587017 |
| &nbsp;&nbsp;&nbsp;Payoneer Global \* | 116021 | 671762 |
| &nbsp;&nbsp;&nbsp;PennyMac Mortgage Investment Trust ‡ | 32695 | 393648 |
| &nbsp;&nbsp;&nbsp;Piper Sandler | 6245 | 1993779 |
| &nbsp;&nbsp;&nbsp;PJT Partners | 9132 | 1471257 |
| &nbsp;&nbsp;&nbsp;PRA Group \* | 18392 | 252154 |
| &nbsp;&nbsp;&nbsp;Preferred Bank | 4325 | 390331 |
| &nbsp;&nbsp;&nbsp;ProAssurance \* | 21343 | 511165 |
| &nbsp;&nbsp;&nbsp;PROG Holdings | 14858 | 429842 |
| &nbsp;&nbsp;&nbsp;Provident Financial Services | 49079 | 897655 |
| &nbsp;&nbsp;&nbsp;Radian Group | 50893 | 1727308 |

---

---

| | | | |
|:---|:---|:---|:---|
| **COMMON STOCK — continued** | **COMMON STOCK — continued** | **COMMON STOCK — continued** | **COMMON STOCK — continued** |
|  | **Shares** | **Value** | **Value** |
| **FINANCIALS— continued** | **FINANCIALS— continued** | **FINANCIALS— continued** | **FINANCIALS— continued** |
| &nbsp;&nbsp;&nbsp;Ready Capital ‡ | 58038 | $| 170051 |
| &nbsp;&nbsp;&nbsp;Redwood Trust ‡ | 57270 |  | 304104 |
| &nbsp;&nbsp;&nbsp;Renasant | 35702 |  | 1200658 |
| &nbsp;&nbsp;&nbsp;S&T Bancorp | 14408 |  | 527909 |
| &nbsp;&nbsp;&nbsp;Safety Insurance Group | 5596 |  | 384613 |
| &nbsp;&nbsp;&nbsp;Seacoast Banking Corp of Florida | 32606 |  | 987962 |
| &nbsp;&nbsp;&nbsp;ServisFirst Bancshares | 18881 |  | 1326768 |
| &nbsp;&nbsp;&nbsp;Simmons First National, Cl A | 54368 |  | 944916 |
| &nbsp;&nbsp;&nbsp;SiriusPoint \* | 39044 |  | 710601 |
| &nbsp;&nbsp;&nbsp;Southside Bancshares | 10624 |  | 298747 |
| &nbsp;&nbsp;&nbsp;Stellar Bancorp | 17365 |  | 511052 |
| &nbsp;&nbsp;&nbsp;StepStone Group, Cl A | 27714 |  | 1687228 |
| &nbsp;&nbsp;&nbsp;Stewart Information Services | 10520 |  | 718200 |
| &nbsp;&nbsp;&nbsp;StoneX Group \* | 17444 |  | 1603452 |
| &nbsp;&nbsp;&nbsp;Tompkins Financial | 4772 |  | 302831 |
| &nbsp;&nbsp;&nbsp;Triumph Financial \* | 8827 |  | 480718 |
| &nbsp;&nbsp;&nbsp;Trupanion \* | 14431 |  | 577096 |
| &nbsp;&nbsp;&nbsp;TrustCo Bank NY | 7083 |  | 267100 |
| &nbsp;&nbsp;&nbsp;Trustmark | 22682 |  | 844224 |
| &nbsp;&nbsp;&nbsp;Two Harbors Investment ‡ | 43741 |  | 425163 |
| &nbsp;&nbsp;&nbsp;United Community Banks | 45641 |  | 1332717 |
| &nbsp;&nbsp;&nbsp;United Fire Group | 8516 |  | 257439 |
| &nbsp;&nbsp;&nbsp;Victory Capital Holdings, Cl A | 18568 |  | 1156229 |
| &nbsp;&nbsp;&nbsp;Virtu Financial, Cl A | 29872 |  | 1040740 |
| &nbsp;&nbsp;&nbsp;Virtus Investment Partners | 2383 |  | 388000 |
| &nbsp;&nbsp;&nbsp;WaFd | 29605 |  | 859433 |
| &nbsp;&nbsp;&nbsp;Walker & Dunlop | 13292 |  | 1062297 |
| &nbsp;&nbsp;&nbsp;Westamerica BanCorp | 9567 |  | 455868 |
| &nbsp;&nbsp;&nbsp;Western Union | 121348 |  | 1132177 |
| &nbsp;&nbsp;&nbsp;WisdomTree | 45181 |  | 540365 |
| &nbsp;&nbsp;&nbsp;World Acceptance \* | 1163 |  | 148248 |
| &nbsp;&nbsp;&nbsp;WSFS Financial | 21029 |  | 1095401 |
|  |  |  | 96771245 |
| **HEALTH CARE — 10.7%** | **HEALTH CARE — 10.7%** | **HEALTH CARE — 10.7%** | **HEALTH CARE — 10.7%** |
| &nbsp;&nbsp;&nbsp;Acadia Healthcare \* | 38856 |  | 835404 |
| &nbsp;&nbsp;&nbsp;ACADIA Pharmaceuticals \* | 53212 |  | 1207912 |
| &nbsp;&nbsp;&nbsp;AdaptHealth, Cl A \* | 48874 |  | 439377 |
| &nbsp;&nbsp;&nbsp;Addus HomeCare \* | 7183 |  | 839621 |
| &nbsp;&nbsp;&nbsp;ADMA Biologics \* | 99325 |  | 1537551 |
| &nbsp;&nbsp;&nbsp;Alkermes \* | 71335 |  | 2189985 |
| &nbsp;&nbsp;&nbsp;AMN Healthcare Services \* | 18732 |  | 368833 |
| &nbsp;&nbsp;&nbsp;Arcus Biosciences \* | 34563 |  | 681582 |
| &nbsp;&nbsp;&nbsp;Arrowhead Pharmaceuticals \* | 55064 |  | 2334163 |
| &nbsp;&nbsp;&nbsp;Artivion \* | 16990 |  | 770836 |
| &nbsp;&nbsp;&nbsp;Avanos Medical \* | 24859 |  | 276183 |
| &nbsp;&nbsp;&nbsp;BrightSpring Health Services \* | 43690 |  | 1443955 |
| &nbsp;&nbsp;&nbsp;Catalyst Pharmaceuticals \* | 56808 |  | 1208306 |
| &nbsp;&nbsp;&nbsp;Certara \* | 51687 |  | 601120 |
| &nbsp;&nbsp;&nbsp;Collegium Pharmaceutical \* | 17375 |  | 625500 |

---

*The accompanying notes are an integral part of the financial statements.* 

**CATHOLIC RESPONSIBLE INVESTMENTS SMALL-CAP FUND**

**OCTOBER 31, 2025**

---

| | | | |
|:---|:---|:---|:---|
| **COMMON STOCK — continued** | **COMMON STOCK — continued** | **COMMON STOCK — continued** | **COMMON STOCK — continued** |
|  | **Shares** | **Value** | **Value** |
| **HEALTH CARE— continued** | **HEALTH CARE— continued** | **HEALTH CARE— continued** | **HEALTH CARE— continued** |
| &nbsp;&nbsp;&nbsp;Concentra Group Holdings Parent | 46022 | $| 916757 |
| &nbsp;&nbsp;&nbsp;CONMED | 12515 |  | 550660 |
| &nbsp;&nbsp;&nbsp;CorVel \* | 12641 |  | 934802 |
| &nbsp;&nbsp;&nbsp;Embecta | 26242 |  | 350068 |
| &nbsp;&nbsp;&nbsp;Enovis \* | 25079 |  | 783468 |
| &nbsp;&nbsp;&nbsp;Fortrea Holdings \* | 47756 |  | 499528 |
| &nbsp;&nbsp;&nbsp;Glaukos \* | 22810 |  | 2008877 |
| &nbsp;&nbsp;&nbsp;Harmony Biosciences Holdings \* | 22053 |  | 630054 |
| &nbsp;&nbsp;&nbsp;HealthStream | 9077 |  | 223294 |
| &nbsp;&nbsp;&nbsp;ICU Medical \* | 10081 |  | 1210627 |
| &nbsp;&nbsp;&nbsp;Innoviva \* | 37086 |  | 674965 |
| &nbsp;&nbsp;&nbsp;Inspire Medical Systems \* | 11241 |  | 810251 |
| &nbsp;&nbsp;&nbsp;Integer Holdings \* | 13876 |  | 895973 |
| &nbsp;&nbsp;&nbsp;Integra LifeSciences Holdings \* | 31699 |  | 380705 |
| &nbsp;&nbsp;&nbsp;Krystal Biotech \* | 10673 |  | 2108024 |
| &nbsp;&nbsp;&nbsp;LeMaitre Vascular | 8391 |  | 726745 |
| &nbsp;&nbsp;&nbsp;Ligand Pharmaceuticals \* | 8428 |  | 1612361 |
| &nbsp;&nbsp;&nbsp;Merit Medical Systems \* | 22789 |  | 1994949 |
| &nbsp;&nbsp;&nbsp;Myriad Genetics \* | 53370 |  | 429095 |
| &nbsp;&nbsp;&nbsp;National HealthCare | 5022 |  | 599828 |
| &nbsp;&nbsp;&nbsp;Neogen \* | 97298 |  | 600329 |
| &nbsp;&nbsp;&nbsp;NeoGenomics \* | 56690 |  | 553861 |
| &nbsp;&nbsp;&nbsp;OmniAB \* | 3296 |  |  |
| &nbsp;&nbsp;&nbsp;OmniAB \* | 3296 |  |  |
| &nbsp;&nbsp;&nbsp;Omnicell \* | 19968 |  | 670326 |
| &nbsp;&nbsp;&nbsp;Pacira BioSciences \* | 23626 |  | 505124 |
| &nbsp;&nbsp;&nbsp;Phibro Animal Health, Cl A | 11049 |  | 464721 |
| &nbsp;&nbsp;&nbsp;Premier, Cl A | 32233 |  | 906392 |
| &nbsp;&nbsp;&nbsp;Prestige Consumer Healthcare \* | 23944 |  | 1451006 |
| &nbsp;&nbsp;&nbsp;Privia Health Group \* | 45442 |  | 1104241 |
| &nbsp;&nbsp;&nbsp;Progyny \* | 32607 |  | 610077 |
| &nbsp;&nbsp;&nbsp;Protagonist Therapeutics \* | 24869 |  | 1955201 |
| &nbsp;&nbsp;&nbsp;RadNet \* | 27107 |  | 2059861 |
| &nbsp;&nbsp;&nbsp;Schrodinger \* | 24576 |  | 517079 |
| &nbsp;&nbsp;&nbsp;Select Medical Holdings | 45203 |  | 625157 |
| &nbsp;&nbsp;&nbsp;STAAR Surgical \* | 21453 |  | 554989 |
| &nbsp;&nbsp;&nbsp;Supernus Pharmaceuticals \* | 24953 |  | 1375659 |
| &nbsp;&nbsp;&nbsp;Tandem Diabetes Care \* | 30662 |  | 429268 |
| &nbsp;&nbsp;&nbsp;Teleflex | 17423 |  | 2168641 |
| &nbsp;&nbsp;&nbsp;TG Therapeutics \* | 54988 |  | 1912483 |
| &nbsp;&nbsp;&nbsp;TransMedics Group \* | 13361 |  | 1757506 |
| &nbsp;&nbsp;&nbsp;UFP Technologies \* | 3257 |  | 627428 |
| &nbsp;&nbsp;&nbsp;US Physical Therapy | 6114 |  | 527455 |
| &nbsp;&nbsp;&nbsp;Veracyte \* | 35059 |  | 1264929 |
| &nbsp;&nbsp;&nbsp;Vericel \* | 25269 |  | 885931 |
| &nbsp;&nbsp;&nbsp;Waystar Holding \* | 44610 |  | 1599269 |
|  |  |  | 58828292 |
| **INDUSTRIALS — 17.8%** | **INDUSTRIALS — 17.8%** | **INDUSTRIALS — 17.8%** | **INDUSTRIALS — 17.8%** |
| &nbsp;&nbsp;&nbsp;AAR \* | 14992 |  | 1262476 |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCK — continued** | **COMMON STOCK — continued** | **COMMON STOCK — continued** |
|  | **Shares** | **Value** |
| **INDUSTRIALS— continued** | **INDUSTRIALS— continued** | **INDUSTRIALS— continued** |
| &nbsp;&nbsp;&nbsp;ABM Industries | 24241 | $1042363 |
| &nbsp;&nbsp;&nbsp;Air Lease, Cl A | 39474 | 2520810 |
| &nbsp;&nbsp;&nbsp;Alamo Group | 4156 | 742760 |
| &nbsp;&nbsp;&nbsp;Albany International, Cl A | 12183 | 689314 |
| &nbsp;&nbsp;&nbsp;Allegiant Travel \* | 6096 | 379049 |
| &nbsp;&nbsp;&nbsp;American Woodmark \* | 6199 | 395062 |
| &nbsp;&nbsp;&nbsp;Apogee Enterprises | 8761 | 320740 |
| &nbsp;&nbsp;&nbsp;ArcBest | 8578 | 637517 |
| &nbsp;&nbsp;&nbsp;Arcosa | 19038 | 1941876 |
| &nbsp;&nbsp;&nbsp;Armstrong World Industries | 16322 | 3108199 |
| &nbsp;&nbsp;&nbsp;Astec Industries | 9301 | 432776 |
| &nbsp;&nbsp;&nbsp;AZZ | 11277 | 1126009 |
| &nbsp;&nbsp;&nbsp;Boise Cascade | 14860 | 1047481 |
| &nbsp;&nbsp;&nbsp;Brady, Cl A | 16448 | 1248568 |
| &nbsp;&nbsp;&nbsp;CoreCivic \* | 43632 | 808501 |
| &nbsp;&nbsp;&nbsp;CSG Systems International | 10379 | 812364 |
| &nbsp;&nbsp;&nbsp;CSW Industrials | 6560 | 1642755 |
| &nbsp;&nbsp;&nbsp;Deluxe | 19507 | 353272 |
| &nbsp;&nbsp;&nbsp;DNOW \* | 43795 | 643787 |
| &nbsp;&nbsp;&nbsp;DXP Enterprises \* | 5139 | 614881 |
| &nbsp;&nbsp;&nbsp;Dycom Industries \* | 11068 | 3185260 |
| &nbsp;&nbsp;&nbsp;Enerpac Tool Group, Cl A | 20266 | 831717 |
| &nbsp;&nbsp;&nbsp;EnPro Industries | 8155 | 1892042 |
| &nbsp;&nbsp;&nbsp;Enviri \* | 35972 | 439218 |
| &nbsp;&nbsp;&nbsp;ESCO Technologies | 9816 | 2154318 |
| &nbsp;&nbsp;&nbsp;Everus Construction \* | 19868 | 1805757 |
| &nbsp;&nbsp;&nbsp;Federal Signal | 23264 | 2745850 |
| &nbsp;&nbsp;&nbsp;Forward Air \* | 11235 | 211330 |
| &nbsp;&nbsp;&nbsp;Franklin Electric | 14374 | 1362224 |
| &nbsp;&nbsp;&nbsp;Gates Industrial \* | 98453 | 2173842 |
| &nbsp;&nbsp;&nbsp;GEO Group \* | 56381 | 956786 |
| &nbsp;&nbsp;&nbsp;Gibraltar Industries \* | 11183 | 697707 |
| &nbsp;&nbsp;&nbsp;Granite Construction | 16540 | 1702131 |
| &nbsp;&nbsp;&nbsp;Greenbrier | 11604 | 484699 |
| &nbsp;&nbsp;&nbsp;Griffon | 15497 | 1146933 |
| &nbsp;&nbsp;&nbsp;Hayward Holdings \* | 78351 | 1329617 |
| &nbsp;&nbsp;&nbsp;Healthcare Services Group \* | 30089 | 537690 |
| &nbsp;&nbsp;&nbsp;Heartland Express | 23436 | 182801 |
| &nbsp;&nbsp;&nbsp;Heidrick & Struggles International | 8393 | 489899 |
| &nbsp;&nbsp;&nbsp;Hertz Global Holdings \*(A) | 52794 | 270833 |
| &nbsp;&nbsp;&nbsp;Hillenbrand | 29059 | 918264 |
| &nbsp;&nbsp;&nbsp;HNI | 17752 | 726412 |
| &nbsp;&nbsp;&nbsp;Hub Group, Cl A | 22786 | 839208 |
| &nbsp;&nbsp;&nbsp;Insteel Industries | 7886 | 246359 |
| &nbsp;&nbsp;&nbsp;Interface, Cl A | 23971 | 596878 |
| &nbsp;&nbsp;&nbsp;JetBlue Airways \* | 127272 | 534542 |
| &nbsp;&nbsp;&nbsp;John Bean Technologies | 20009 | 2523135 |
| &nbsp;&nbsp;&nbsp;Kadant | 4616 | 1277063 |
| &nbsp;&nbsp;&nbsp;Kennametal | 29114 | 639052 |
| &nbsp;&nbsp;&nbsp;Korn Ferry | 19955 | 1291089 |
| &nbsp;&nbsp;&nbsp;Lindsay | 4081 | 453971 |

---

*The accompanying notes are an integral part of the financial statements.* 

**CATHOLIC RESPONSIBLE INVESTMENTS SMALL-CAP FUND**

**OCTOBER 31, 2025**

---

| | | | |
|:---|:---|:---|:---|
| **COMMON STOCK — continued** | **COMMON STOCK — continued** | **COMMON STOCK — continued** | **COMMON STOCK — continued** |
|  | **Shares** | **Value** | **Value** |
| **INDUSTRIALS— continued** | **INDUSTRIALS— continued** | **INDUSTRIALS— continued** | **INDUSTRIALS— continued** |
| &nbsp;&nbsp;&nbsp;Liquidity Services \* | 10018 | $| 239831 |
| &nbsp;&nbsp;&nbsp;ManpowerGroup | 20587 |  | 631197 |
| &nbsp;&nbsp;&nbsp;Marten Transport | 21687 |  | 222292 |
| &nbsp;&nbsp;&nbsp;Masterbrand \* | 53172 |  | 671562 |
| &nbsp;&nbsp;&nbsp;Matson | 11944 |  | 1205747 |
| &nbsp;&nbsp;&nbsp;Mercury Systems \* | 20398 |  | 1579009 |
| &nbsp;&nbsp;&nbsp;MillerKnoll | 30896 |  | 482596 |
| &nbsp;&nbsp;&nbsp;Mueller Water Products, Cl A | 58724 |  | 1506858 |
| &nbsp;&nbsp;&nbsp;MYR Group \* | 6054 |  | 1317956 |
| &nbsp;&nbsp;&nbsp;OPENLANE \* | 41531 |  | 1097249 |
| &nbsp;&nbsp;&nbsp;Pitney Bowes | 63164 |  | 624060 |
| &nbsp;&nbsp;&nbsp;Powell Industries | 3717 |  | 1425061 |
| &nbsp;&nbsp;&nbsp;Proto Labs \* | 10024 |  | 498794 |
| &nbsp;&nbsp;&nbsp;Quanex Building Products | 24012 |  | 341211 |
| &nbsp;&nbsp;&nbsp;Resideo Technologies \* | 53238 |  | 2278586 |
| &nbsp;&nbsp;&nbsp;Robert Half | 39241 |  | 1027722 |
| &nbsp;&nbsp;&nbsp;Rush Enterprises, Cl A | 23839 |  | 1177885 |
| &nbsp;&nbsp;&nbsp;RXO \* | 66282 |  | 1175180 |
| &nbsp;&nbsp;&nbsp;Schneider National, Cl B | 18828 |  | 402354 |
| &nbsp;&nbsp;&nbsp;SkyWest \* | 15171 |  | 1524382 |
| &nbsp;&nbsp;&nbsp;SPX Technologies \* | 18856 |  | 4221670 |
| &nbsp;&nbsp;&nbsp;Standex International | 4701 |  | 1096414 |
| &nbsp;&nbsp;&nbsp;Sterling Infrastructure \* | 11596 |  | 4382128 |
| &nbsp;&nbsp;&nbsp;Sun Country Airlines Holdings \* | 20989 |  | 257745 |
| &nbsp;&nbsp;&nbsp;Sunrun \* | 90711 |  | 1883160 |
| &nbsp;&nbsp;&nbsp;Tennant | 6994 |  | 559520 |
| &nbsp;&nbsp;&nbsp;Titan International \* | 27129 |  | 204824 |
| &nbsp;&nbsp;&nbsp;Trinity Industries | 32371 |  | 885994 |
| &nbsp;&nbsp;&nbsp;UniFirst | 6024 |  | 929804 |
| &nbsp;&nbsp;&nbsp;Verra Mobility, Cl A \* | 62115 |  | 1441689 |
| &nbsp;&nbsp;&nbsp;Vestis | 61434 |  | 322529 |
| &nbsp;&nbsp;&nbsp;Vicor \* | 9441 |  | 856582 |
| &nbsp;&nbsp;&nbsp;Werner Enterprises | 22480 |  | 588976 |
| &nbsp;&nbsp;&nbsp;WillScot Holdings | 71807 |  | 1561802 |
| &nbsp;&nbsp;&nbsp;Worthington Enterprises | 12443 |  | 697928 |
| &nbsp;&nbsp;&nbsp;Zurn Elkay Water Solutions | 56383 |  | 2656203 |
|  |  |  | 98393687 |
| **INFORMATION TECHNOLOGY — 16.4%** | **INFORMATION TECHNOLOGY — 16.4%** | **INFORMATION TECHNOLOGY — 16.4%** | **INFORMATION TECHNOLOGY — 16.4%** |
| &nbsp;&nbsp;&nbsp;A10 Networks | 28467 |  | 507851 |
| &nbsp;&nbsp;&nbsp;ACI Worldwide \* | 39855 |  | 1898294 |
| &nbsp;&nbsp;&nbsp;ACM Research, Cl A \* | 20474 |  | 848852 |
| &nbsp;&nbsp;&nbsp;Adeia | 43958 |  | 749044 |
| &nbsp;&nbsp;&nbsp;Advanced Energy Industries | 14148 |  | 2868224 |
| &nbsp;&nbsp;&nbsp;Alarm.com Holdings \* | 19673 |  | 968305 |
| &nbsp;&nbsp;&nbsp;Alpha & Omega Semiconductor \* | 10976 |  | 307986 |
| &nbsp;&nbsp;&nbsp;Arlo Technologies \* | 41227 |  | 797330 |
| &nbsp;&nbsp;&nbsp;Axcelis Technologies \* | 11848 |  | 942627 |
| &nbsp;&nbsp;&nbsp;Badger Meter | 11073 |  | 1998123 |
| &nbsp;&nbsp;&nbsp;Benchmark Electronics | 14085 |  | 617205 |
| &nbsp;&nbsp;&nbsp;BlackLine \* | 20569 |  | 1177575 |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCK — continued** | **COMMON STOCK — continued** | **COMMON STOCK — continued** |
|  | **Shares** | **Value** |
| **INFORMATION TECHNOLOGY— continued** | **INFORMATION TECHNOLOGY— continued** | **INFORMATION TECHNOLOGY— continued** |
| &nbsp;&nbsp;&nbsp;Box, Cl A \* | 54899 | $1761709 |
| &nbsp;&nbsp;&nbsp;Calix \* | 22796 | 1559702 |
| &nbsp;&nbsp;&nbsp;CEVA \* | 9593 | 261025 |
| &nbsp;&nbsp;&nbsp;Cleanspark \* | 110092 | 1959638 |
| &nbsp;&nbsp;&nbsp;Clear Secure, Cl A | 34770 | 1059442 |
| &nbsp;&nbsp;&nbsp;Cohu \* | 18056 | 429552 |
| &nbsp;&nbsp;&nbsp;Corsair Gaming \* | 23453 | 191142 |
| &nbsp;&nbsp;&nbsp;CTS | 11076 | 459765 |
| &nbsp;&nbsp;&nbsp;Digi International \* | 13948 | 511613 |
| &nbsp;&nbsp;&nbsp;DigitalOcean Holdings \* | 27839 | 1131934 |
| &nbsp;&nbsp;&nbsp;Diodes \* | 17450 | 931132 |
| &nbsp;&nbsp;&nbsp;DXC Technology \* | 69624 | 988661 |
| &nbsp;&nbsp;&nbsp;Enphase Energy \* | 50636 | 1544904 |
| &nbsp;&nbsp;&nbsp;ePlus | 9906 | 724723 |
| &nbsp;&nbsp;&nbsp;Extreme Networks \* | 50346 | 957581 |
| &nbsp;&nbsp;&nbsp;FormFactor \* | 29172 | 1603001 |
| &nbsp;&nbsp;&nbsp;Grid Dynamics Holdings \* | 34163 | 319082 |
| &nbsp;&nbsp;&nbsp;Harmonic \* | 43237 | 462636 |
| &nbsp;&nbsp;&nbsp;Ichor Holdings \* | 14426 | 327182 |
| &nbsp;&nbsp;&nbsp;Impinj \* | 9908 | 2003001 |
| &nbsp;&nbsp;&nbsp;Insight Enterprises \* | 11825 | 1182500 |
| &nbsp;&nbsp;&nbsp;InterDigital | 9762 | 3533453 |
| &nbsp;&nbsp;&nbsp;Itron \* | 17178 | 1723469 |
| &nbsp;&nbsp;&nbsp;Knowles \* | 32271 | 761918 |
| &nbsp;&nbsp;&nbsp;Kulicke & Soffa Industries | 19593 | 782348 |
| &nbsp;&nbsp;&nbsp;LiveRamp Holdings \* | 26813 | 733067 |
| &nbsp;&nbsp;&nbsp;MARA Holdings \* | 144425 | 2638645 |
| &nbsp;&nbsp;&nbsp;MaxLinear, Cl A \* | 33680 | 510252 |
| &nbsp;&nbsp;&nbsp;Mirion Technologies, Cl A \* | 92791 | 2725272 |
| &nbsp;&nbsp;&nbsp;N-able \* | 36551 | 286194 |
| &nbsp;&nbsp;&nbsp;NCR Voyix \* | 59511 | 679020 |
| &nbsp;&nbsp;&nbsp;NetScout Systems \* | 25655 | 713209 |
| &nbsp;&nbsp;&nbsp;OSI Systems \* | 5930 | 1651268 |
| &nbsp;&nbsp;&nbsp;PC Connection | 4292 | 261683 |
| &nbsp;&nbsp;&nbsp;PDF Solutions \* | 12019 | 350113 |
| &nbsp;&nbsp;&nbsp;Penguin Solutions \* | 19010 | 423353 |
| &nbsp;&nbsp;&nbsp;Photronics \* | 22601 | 540164 |
| &nbsp;&nbsp;&nbsp;Plexus \* | 10140 | 1418586 |
| &nbsp;&nbsp;&nbsp;Progress Software \* | 17179 | 732513 |
| &nbsp;&nbsp;&nbsp;Q2 Holdings \* | 24701 | 1525534 |
| &nbsp;&nbsp;&nbsp;Qorvo \* | 31817 | 3020070 |
| &nbsp;&nbsp;&nbsp;Ralliant | 43728 | 1920534 |
| &nbsp;&nbsp;&nbsp;Rogers \* | 6578 | 575838 |
| &nbsp;&nbsp;&nbsp;Sandisk \* | 52236 | 10412202 |
| &nbsp;&nbsp;&nbsp;Sanmina \* | 20020 | 2743741 |
| &nbsp;&nbsp;&nbsp;ScanSource \* | 7811 | 335131 |
| &nbsp;&nbsp;&nbsp;Semtech \* | 33202 | 2253088 |
| &nbsp;&nbsp;&nbsp;SiTime \* | 8317 | 2408936 |
| &nbsp;&nbsp;&nbsp;SolarEdge Technologies \* | 23099 | 810544 |
| &nbsp;&nbsp;&nbsp;Sprinklr, Cl A \* | 46889 | 361983 |
| &nbsp;&nbsp;&nbsp;SPS Commerce \* | 14989 | 1232695 |
| &nbsp;&nbsp;&nbsp;Teradata \* | 36325 | 757376 |

---

*The accompanying notes are an integral part of the financial statements.* 

**CATHOLIC RESPONSIBLE INVESTMENTS SMALL-CAP FUND**

**OCTOBER 31, 2025**

---

| | | | |
|:---|:---|:---|:---|
| **COMMON STOCK — continued** | **COMMON STOCK — continued** | **COMMON STOCK — continued** | **COMMON STOCK — continued** |
|  | **Shares** | **Value** | **Value** |
| **INFORMATION TECHNOLOGY— continued** | **INFORMATION TECHNOLOGY— continued** | **INFORMATION TECHNOLOGY— continued** | **INFORMATION TECHNOLOGY— continued** |
| &nbsp;&nbsp;&nbsp;TTM Technologies \* | 39288 | $| 2640154 |
| &nbsp;&nbsp;&nbsp;Ultra Clean Holdings \* | 18482 |  | 506592 |
| &nbsp;&nbsp;&nbsp;Veeco Instruments \* | 22605 |  | 649894 |
| &nbsp;&nbsp;&nbsp;Viasat \* | 51723 |  | 2059610 |
| &nbsp;&nbsp;&nbsp;Viavi Solutions \* | 83941 |  | 1485756 |
| &nbsp;&nbsp;&nbsp;Vishay Intertechnology | 47756 |  | 810897 |
|  |  |  | 91026443 |
| **MATERIALS — 4.8%** | **MATERIALS — 4.8%** | **MATERIALS — 4.8%** | **MATERIALS — 4.8%** |
| &nbsp;&nbsp;&nbsp;AdvanSix | 10046 |  | 186755 |
| &nbsp;&nbsp;&nbsp;Alpha Metallurgical Resources \* | 4479 |  | 776031 |
| &nbsp;&nbsp;&nbsp;Balchem | 12194 |  | 1870438 |
| &nbsp;&nbsp;&nbsp;Celanese, Cl A | 43676 |  | 1678905 |
| &nbsp;&nbsp;&nbsp;Century Aluminum \* | 21642 |  | 641036 |
| &nbsp;&nbsp;&nbsp;Chemours | 61125 |  | 818464 |
| &nbsp;&nbsp;&nbsp;Element Solutions | 85336 |  | 2280178 |
| &nbsp;&nbsp;&nbsp;FMC | 48933 |  | 742314 |
| &nbsp;&nbsp;&nbsp;Hawkins | 7844 |  | 1112671 |
| &nbsp;&nbsp;&nbsp;HB Fuller | 20276 |  | 1163234 |
| &nbsp;&nbsp;&nbsp;Hecla Mining | 253070 |  | 3257011 |
| &nbsp;&nbsp;&nbsp;Ingevity \* | 14506 |  | 779262 |
| &nbsp;&nbsp;&nbsp;Innospec | 9331 |  | 686575 |
| &nbsp;&nbsp;&nbsp;Kaiser Aluminum | 6022 |  | 545172 |
| &nbsp;&nbsp;&nbsp;Koppers Holdings | 7625 |  | 215177 |
| &nbsp;&nbsp;&nbsp;Materion | 7965 |  | 913028 |
| &nbsp;&nbsp;&nbsp;Metallus \* | 15119 |  | 265943 |
| &nbsp;&nbsp;&nbsp;Minerals Technologies | 12058 |  | 684291 |
| &nbsp;&nbsp;&nbsp;O-I Glass, Cl I \* | 61599 |  | 695453 |
| &nbsp;&nbsp;&nbsp;Quaker Chemical | 5393 |  | 749034 |
| &nbsp;&nbsp;&nbsp;Sealed Air | 55268 |  | 1852031 |
| &nbsp;&nbsp;&nbsp;Sensient Technologies | 15956 |  | 1504491 |
| &nbsp;&nbsp;&nbsp;Stepan | 8073 |  | 349965 |
| &nbsp;&nbsp;&nbsp;SunCoke Energy | 31792 |  | 254654 |
| &nbsp;&nbsp;&nbsp;Sylvamo | 12742 |  | 517325 |
| &nbsp;&nbsp;&nbsp;Warrior Met Coal | 19902 |  | 1350152 |
| &nbsp;&nbsp;&nbsp;Worthington Steel | 12419 |  | 397284 |
|  |  |  | 26286874 |
| **REAL ESTATE — 7.1%** | **REAL ESTATE — 7.1%** | **REAL ESTATE — 7.1%** | **REAL ESTATE — 7.1%** |
| &nbsp;&nbsp;&nbsp;Acadia Realty Trust ‡ | 51581 |  | 983650 |
| &nbsp;&nbsp;&nbsp;Alexander & Baldwin ‡ | 27336 |  | 436556 |
| &nbsp;&nbsp;&nbsp;American Assets Trust ‡ | 17744 |  | 339088 |
| &nbsp;&nbsp;&nbsp;Apple Hospitality REIT ‡ | 82811 |  | 926655 |
| &nbsp;&nbsp;&nbsp;Armada Hoffler Properties ‡ | 31822 |  | 208116 |
| &nbsp;&nbsp;&nbsp;Brandywine Realty Trust ‡ | 79466 |  | 272568 |
| &nbsp;&nbsp;&nbsp;CareTrust REIT ‡ | 82773 |  | 2868084 |
| &nbsp;&nbsp;&nbsp;Centerspace ‡ | 7253 |  | 429740 |
| &nbsp;&nbsp;&nbsp;Curbline Properties ‡ | 37574 |  | 866456 |
| &nbsp;&nbsp;&nbsp;Cushman & Wakefield \* | 91045 |  | 1429406 |
| &nbsp;&nbsp;&nbsp;DiamondRock Hospitality ‡ | 77008 |  | 602203 |
| &nbsp;&nbsp;&nbsp;Douglas Emmett ‡ | 67850 |  | 877979 |
| &nbsp;&nbsp;&nbsp;Easterly Government Properties, Cl A ‡ | 18717 |  | 404661 |

---

---

| | | | |
|:---|:---|:---|:---|
| **COMMON STOCK — continued** | **COMMON STOCK — continued** | **COMMON STOCK — continued** | **COMMON STOCK — continued** |
|  | **Shares** | **Value** | **Value** |
| **REAL ESTATE— continued** | **REAL ESTATE— continued** | **REAL ESTATE— continued** | **REAL ESTATE— continued** |
| &nbsp;&nbsp;&nbsp;Elme Communities ‡ | 33973 | $| 558856 |
| &nbsp;&nbsp;&nbsp;Essential Properties Realty Trust ‡ | 74447 |  | 2224476 |
| &nbsp;&nbsp;&nbsp;eXp World Holdings | 41836 |  | 428401 |
| &nbsp;&nbsp;&nbsp;Four Corners Property Trust ‡ | 39250 |  | 927870 |
| &nbsp;&nbsp;&nbsp;Getty Realty ‡ | 19563 |  | 536613 |
| &nbsp;&nbsp;&nbsp;Global Net Lease ‡ | 91119 |  | 694327 |
| &nbsp;&nbsp;&nbsp;Highwoods Properties ‡ | 40606 |  | 1162550 |
| &nbsp;&nbsp;&nbsp;Innovative Industrial Properties, Cl A ‡ | 12669 |  | 635350 |
| &nbsp;&nbsp;&nbsp;JBG SMITH Properties ‡ | 27745 |  | 540750 |
| &nbsp;&nbsp;&nbsp;Kennedy-Wilson Holdings | 61019 |  | 461304 |
| &nbsp;&nbsp;&nbsp;LTC Properties ‡ | 17258 |  | 605411 |
| &nbsp;&nbsp;&nbsp;LXP Industrial Trust ‡ | 113749 |  | 1079478 |
| &nbsp;&nbsp;&nbsp;Macerich ‡ | 104872 |  | 1798555 |
| &nbsp;&nbsp;&nbsp;Marcus & Millichap | 11341 |  | 331271 |
| &nbsp;&nbsp;&nbsp;Millrose Properties ‡(A) | 45790 |  | 1474896 |
| &nbsp;&nbsp;&nbsp;NexPoint Residential Trust ‡ | 10950 |  | 335836 |
| &nbsp;&nbsp;&nbsp;Outfront Media ‡ | 55575 |  | 983122 |
| &nbsp;&nbsp;&nbsp;Pebblebrook Hotel Trust ‡ | 56428 |  | 590237 |
| &nbsp;&nbsp;&nbsp;Phillips Edison ‡ | 47192 |  | 1596977 |
| &nbsp;&nbsp;&nbsp;Ryman Hospitality Properties ‡ | 23671 |  | 2057247 |
| &nbsp;&nbsp;&nbsp;Safehold ‡ | 21841 |  | 315166 |
| &nbsp;&nbsp;&nbsp;Saul Centers ‡ | 4663 |  | 138071 |
| &nbsp;&nbsp;&nbsp;SITE Centers ‡ | 19579 |  | 143514 |
| &nbsp;&nbsp;&nbsp;SL Green Realty ‡ | 30005 |  | 1540757 |
| &nbsp;&nbsp;&nbsp;St. Joe | 15013 |  | 852438 |
| &nbsp;&nbsp;&nbsp;Summit Hotel Properties ‡ | 52719 |  | 270976 |
| &nbsp;&nbsp;&nbsp;Sunstone Hotel Investors ‡ | 72003 |  | 637227 |
| &nbsp;&nbsp;&nbsp;Tanger ‡ | 42523 |  | 1384549 |
| &nbsp;&nbsp;&nbsp;Terreno Realty ‡ | 39093 |  | 2233383 |
| &nbsp;&nbsp;&nbsp;Urban Edge Properties ‡ | 47263 |  | 908867 |
| &nbsp;&nbsp;&nbsp;Veris Residential ‡ | 33842 |  | 485971 |
| &nbsp;&nbsp;&nbsp;Whitestone REIT, Cl B ‡ | 16810 |  | 210797 |
| &nbsp;&nbsp;&nbsp;Xenia Hotels & Resorts ‡ | 35987 |  | 442640 |
|  |  |  | 39233045 |
| **UTILITIES — 2.0%** | **UTILITIES — 2.0%** | **UTILITIES — 2.0%** | **UTILITIES — 2.0%** |
| &nbsp;&nbsp;&nbsp;American States Water | 16575 |  | 1181963 |
| &nbsp;&nbsp;&nbsp;Avista | 35039 |  | 1333234 |
| &nbsp;&nbsp;&nbsp;California Water Service Group | 26198 |  | 1162667 |
| &nbsp;&nbsp;&nbsp;Chesapeake Utilities | 10007 |  | 1273691 |
| &nbsp;&nbsp;&nbsp;Clearway Energy, Cl A | 17065 |  | 511779 |
| &nbsp;&nbsp;&nbsp;Clearway Energy, Cl C | 36520 |  | 1166084 |
| &nbsp;&nbsp;&nbsp;H2O America | 15573 |  | 720251 |
| &nbsp;&nbsp;&nbsp;MDU Resources Group | 86236 |  | 1654007 |
| &nbsp;&nbsp;&nbsp;Middlesex Water | 9093 |  | 522575 |
| &nbsp;&nbsp;&nbsp;Northwest Natural Holding | 18027 |  | 820769 |

---

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS SMALL-CAP FUND**

**OCTOBER 31, 2025**

---

| | | |
|:---|:---|:---|
| **COMMON STOCK — continued** | **COMMON STOCK — continued** | **COMMON STOCK — continued** |
|  | **Shares** | **Value** |
| **UTILITIES— continued** |  |  |
| &nbsp;&nbsp;&nbsp;Unitil | 8887 | $433241 |
|  |  | 10780261 |
| &nbsp;&nbsp;&nbsp;Total Common Stock |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $420,808,285) |  | 547199626 |

---

**RIGHTS — 0.0%** 

---

| | | |
|:---|:---|:---|
|  | **Number of**<br>**Rights** | |
| &nbsp;&nbsp;&nbsp;Toriba Therapeutics \* (B)(C) | 2044 | $|
| &nbsp;&nbsp;&nbsp;Total Rights |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $123) |  |  |

---

Percentages are based on Net Assets of $552,783,568.

---

| | | |
|:---|:---|:---|
| **SHORT-TERM INVESTMENT — 0.8%** | **SHORT-TERM INVESTMENT — 0.8%** | **SHORT-TERM INVESTMENT — 0.8%** |
|  | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;State Street Institutional U.S. Government Money Market Fund, Institutional Class, 4.290%, (D) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $4,157,572) | 4157572 | $4157572 |
| &nbsp;&nbsp;&nbsp;Total Short-Term Investment |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $4,157,572) |  | 4157572 |
| &nbsp;&nbsp;&nbsp;Total Investments in Securities— 99.7% | &nbsp;&nbsp;&nbsp;Total Investments in Securities— 99.7% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $424,965,980) |  | $551357198 |

---

A list of the open futures contracts held by the Fund at October 31, 2025, is as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Type of Contract | Number of Contracts | Expiration Date | Notional Amount | Value | Unrealized Appreciation |
| Long Contracts Russell 2000 Index E-MINI | 40 | Dec-2025 | $4863280 | $4979800 | $116520 |

---

\* Non-income producing security.

&nbsp;&nbsp;&nbsp;&nbsp;‡ Real Estate Investment Trust.

&nbsp;&nbsp;&nbsp;&nbsp;(A) This security or a partial position of this security
 is on loan at October 31, 2025. The total market value of securities on loan at October 31, 2025 was $4,037,691.

&nbsp;&nbsp;&nbsp;&nbsp;(B) Level 3 security in
 accordance with fair value hierarchy.

&nbsp;&nbsp;&nbsp;&nbsp;(C) Expiration date not
 available.

&nbsp;&nbsp;&nbsp;&nbsp;(D) This security was purchased with cash collateral
 received from securities lending. The total was of such securities as of October 31, 2025, was $4,157,572.

Cl — Class

REIT — Real Estate Investment Trust

The following is a summary of the inputs used as of October 31, 2025, in valuing the Fund's investments and other financial instruments carried at market value:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Investments in Securities | Level 1 | Level 2 | Level 3^ |  | Total |
| &nbsp;&nbsp;&nbsp;Common Stock |  |  |  |  |  |
| Total Common Stock | $547199626 | $— | $— |  | $547199626 |
| &nbsp;&nbsp;&nbsp;Short-Term Investment | 4157572 |  |  |  | 4157572 |
| &nbsp;&nbsp;&nbsp;Rights |  |  |  | # |  |
| Total Investments in Securities | $551357198 | $— | $— |  | $551357198 |

---

*The accompanying notes are an integral part of the financial statements.* 

**CATHOLIC RESPONSIBLE INVESTMENTS SMALL-CAP FUND**

**OCTOBER 31, 2025**

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;Other Financial Instruments | Level 1 | Level 2 | Level 3 | Total |
| &nbsp;&nbsp;&nbsp;Futures Contracts\* |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Unrealized Appreciation | $116520 | $— | $— | $116520 |
| Total Other Financial Instruments | $116520 | $— | $— | $116520 |

---

---

| | |
|:---|:---|
| ^ | A reconciliation of Level 3 investments, including certain disclosures related to significant inputs used in valuing Level 3 investments is only presented when the Fund has over 1% of Level 3 investments at the end of the period in relation to net assets. |

---

# Security or securities with a market value of $0.

\* Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument.

Amounts designated as "–" are $0 or have been round to $0.

For more information on valuation inputs, see Note 2 — Significant Accounting Policies in the Notes to Financial Statements.

*The accompanying notes are an integral part of the financial statements.* 

**CATHOLIC RESPONSIBLE INVESTMENTS MULTI-STYLE US EQUITY FUND**

**OCTOBER 31, 2025**

**SCHEDULE OF INVESTMENTS**

**COMMON STOCK — 98.5%#**

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **COMMUNICATION SERVICES — 8.5%** | **COMMUNICATION SERVICES — 8.5%** | **COMMUNICATION SERVICES — 8.5%** |
| &nbsp;&nbsp;&nbsp;Alphabet, Cl A | 49198 | $13833986 |
| &nbsp;&nbsp;&nbsp;Alphabet, Cl C | 55176 | 15549700 |
| &nbsp;&nbsp;&nbsp;AT&T | 2825 | 69919 |
| &nbsp;&nbsp;&nbsp;Comcast, Cl A | 5114 | 142348 |
| &nbsp;&nbsp;&nbsp;Electronic Arts | 994 | 198860 |
| &nbsp;&nbsp;&nbsp;Meta Platforms, Cl A | 34858 | 22600184 |
| &nbsp;&nbsp;&nbsp;Netflix \* | 3123 | 3494200 |
| &nbsp;&nbsp;&nbsp;Spotify Technology \* | 329 | 215600 |
| &nbsp;&nbsp;&nbsp;Take-Two Interactive Software \* | 109 | 27944 |
| &nbsp;&nbsp;&nbsp;TKO Group Holdings, Cl A | 601 | 113228 |
| &nbsp;&nbsp;&nbsp;T-Mobile US | 17798 | 3738470 |
| &nbsp;&nbsp;&nbsp;Trade Desk, Cl A \* | 1068 | 53699 |
| &nbsp;&nbsp;&nbsp;Walt Disney | 44029 | 4958546 |
|  |  | 64996684 |
| **CONSUMER DISCRETIONARY — 8.0%** | **CONSUMER DISCRETIONARY — 8.0%** | **CONSUMER DISCRETIONARY — 8.0%** |
| &nbsp;&nbsp;&nbsp;Amazon.com \* | 148842 | 36350193 |
| &nbsp;&nbsp;&nbsp;Aptiv \* | 21202 | 1719482 |
| &nbsp;&nbsp;&nbsp;AutoNation \* | 8585 | 1715884 |
| &nbsp;&nbsp;&nbsp;AutoZone \* | 859 | 3156335 |
| &nbsp;&nbsp;&nbsp;Bath & Body Works | 664 | 16255 |
| &nbsp;&nbsp;&nbsp;Booking Holdings | 519 | 2635347 |
| &nbsp;&nbsp;&nbsp;Carvana, Cl A \* | 148 | 45368 |
| &nbsp;&nbsp;&nbsp;Cava Group \* | 11655 | 626223 |
| &nbsp;&nbsp;&nbsp;Chipotle Mexican Grill, Cl A \* | 49454 | 1567197 |
| &nbsp;&nbsp;&nbsp;Darden Restaurants | 300 | 54045 |
| &nbsp;&nbsp;&nbsp;Domino's Pizza | 129 | 51401 |
| &nbsp;&nbsp;&nbsp;DoorDash, Cl A \* | 1194 | 303718 |
| &nbsp;&nbsp;&nbsp;eBay | 1361 | 110663 |
| &nbsp;&nbsp;&nbsp;General Motors | 2774 | 191656 |
| &nbsp;&nbsp;&nbsp;Hilton Worldwide Holdings | 1005 | 258245 |
| &nbsp;&nbsp;&nbsp;Home Depot | 9036 | 3429975 |
| &nbsp;&nbsp;&nbsp;Lowe's | 1171 | 278850 |
| &nbsp;&nbsp;&nbsp;McDonald's | 2139 | 638342 |
| &nbsp;&nbsp;&nbsp;NIKE, Cl B | 1635 | 105605 |
| &nbsp;&nbsp;&nbsp;NVR \* | 26 | 187481 |
| &nbsp;&nbsp;&nbsp;O'Reilly Automotive \* | 35700 | 3371508 |
| &nbsp;&nbsp;&nbsp;Pool | 90 | 24035 |
| &nbsp;&nbsp;&nbsp;Ross Stores | 1437 | 228368 |
| &nbsp;&nbsp;&nbsp;Royal Caribbean Cruises | 800 | 229464 |
| &nbsp;&nbsp;&nbsp;Tapestry | 500 | 54910 |
| &nbsp;&nbsp;&nbsp;Tesla \* | 6239 | 2848478 |
| &nbsp;&nbsp;&nbsp;TJX | 2068 | 289810 |
| &nbsp;&nbsp;&nbsp;Ulta Beauty \* | 169 | 87860 |
| &nbsp;&nbsp;&nbsp;Wingstop | 187 | 40510 |
|  |  | 60617208 |
| **CONSUMER STAPLES — 4.3%** | **CONSUMER STAPLES — 4.3%** | **CONSUMER STAPLES — 4.3%** |
| &nbsp;&nbsp;&nbsp;Coca-Cola | 88727 | 6113290 |
| &nbsp;&nbsp;&nbsp;Coca-Cola Europacific Partners | 18958 | 1684039 |
| &nbsp;&nbsp;&nbsp;Colgate-Palmolive | 2622 | 202025 |
| &nbsp;&nbsp;&nbsp;Costco Wholesale | 4605 | 4197227 |

---

---

| | | | |
|:---|:---|:---|:---|
| **COMMON STOCK — continued** | **COMMON STOCK — continued** | **COMMON STOCK — continued** | **COMMON STOCK — continued** |
|  | **Shares** | **Value** | **Value** |
| **CONSUMER STAPLES— continued** | **CONSUMER STAPLES— continued** | **CONSUMER STAPLES— continued** | **CONSUMER STAPLES— continued** |
| &nbsp;&nbsp;&nbsp;elf Beauty \* | 473 | $| 57772 |
| &nbsp;&nbsp;&nbsp;Estee Lauder, Cl A | 1251 |  | 120959 |
| &nbsp;&nbsp;&nbsp;Kenvue | 3856 |  | 55411 |
| &nbsp;&nbsp;&nbsp;Keurig Dr Pepper | 6133 |  | 166572 |
| &nbsp;&nbsp;&nbsp;Kimberly-Clark | 697 |  | 83438 |
| &nbsp;&nbsp;&nbsp;Lamb Weston Holdings | 280 |  | 17284 |
| &nbsp;&nbsp;&nbsp;Mondelez International, Cl A | 2264 |  | 130090 |
| &nbsp;&nbsp;&nbsp;Monster Beverage \* | 42376 |  | 2831988 |
| &nbsp;&nbsp;&nbsp;PepsiCo | 2130 |  | 311172 |
| &nbsp;&nbsp;&nbsp;Sysco | 57103 |  | 4241611 |
| &nbsp;&nbsp;&nbsp;Target | 761 |  | 70560 |
| &nbsp;&nbsp;&nbsp;Tyson Foods, Cl A | 800 |  | 41128 |
| &nbsp;&nbsp;&nbsp;Unilever ADR | 76135 |  | 4582566 |
| &nbsp;&nbsp;&nbsp;US Foods Holding \* | 89837 |  | 6523963 |
| &nbsp;&nbsp;&nbsp;Walmart | 10533 |  | 1065729 |
|  |  |  | 32496824 |
| **ENERGY — 2.7%** | **ENERGY — 2.7%** | **ENERGY — 2.7%** | **ENERGY — 2.7%** |
| &nbsp;&nbsp;&nbsp;Cenovus Energy | 147218 |  | 2490929 |
| &nbsp;&nbsp;&nbsp;Chevron | 5007 |  | 789704 |
| &nbsp;&nbsp;&nbsp;ConocoPhillips | 49262 |  | 4377421 |
| &nbsp;&nbsp;&nbsp;Diamondback Energy | 29957 |  | 4289543 |
| &nbsp;&nbsp;&nbsp;EOG Resources | 1121 |  | 118647 |
| &nbsp;&nbsp;&nbsp;EQT Corporation | 1789 |  | 95855 |
| &nbsp;&nbsp;&nbsp;Expand Energy Corporation | 766 |  | 79135 |
| &nbsp;&nbsp;&nbsp;Exxon Mobil | 8353 |  | 955249 |
| &nbsp;&nbsp;&nbsp;Kinder Morgan | 3961 |  | 103739 |
| &nbsp;&nbsp;&nbsp;Marathon Petroleum | 25062 |  | 4884834 |
| &nbsp;&nbsp;&nbsp;SLB Limited | 42467 |  | 1531360 |
| &nbsp;&nbsp;&nbsp;Targa Resources | 921 |  | 141871 |
| &nbsp;&nbsp;&nbsp;Valero Energy | 1354 |  | 229584 |
| &nbsp;&nbsp;&nbsp;Williams | 3508 |  | 203008 |
|  |  |  | 20290879 |
| **FINANCIALS — 14.0%** | **FINANCIALS — 14.0%** | **FINANCIALS — 14.0%** | **FINANCIALS — 14.0%** |
| &nbsp;&nbsp;&nbsp;Allstate | 13223 |  | 2532469 |
| &nbsp;&nbsp;&nbsp;American Express | 15118 |  | 5453516 |
| &nbsp;&nbsp;&nbsp;American International Group | 3775 |  | 298074 |
| &nbsp;&nbsp;&nbsp;Aon, Cl A | 9506 |  | 3238504 |
| &nbsp;&nbsp;&nbsp;Apollo Global Management | 23420 |  | 2911340 |
| &nbsp;&nbsp;&nbsp;Ares Management, Cl A | 896 |  | 133244 |
| &nbsp;&nbsp;&nbsp;Arthur J Gallagher | 5425 |  | 1353483 |
| &nbsp;&nbsp;&nbsp;Axis Capital Holdings | 668 |  | 62565 |
| &nbsp;&nbsp;&nbsp;Bank of America | 21635 |  | 1156391 |
| &nbsp;&nbsp;&nbsp;Bank of New York Mellon | 2314 |  | 249750 |
| &nbsp;&nbsp;&nbsp;Berkshire Hathaway, Cl B \* | 18747 |  | 8952442 |
| &nbsp;&nbsp;&nbsp;Blackstone | 549 |  | 80505 |
| &nbsp;&nbsp;&nbsp;Block, Cl A \* | 4992 |  | 379093 |
| &nbsp;&nbsp;&nbsp;Blue Owl Capital, Cl A | 122984 |  | 1939458 |
| &nbsp;&nbsp;&nbsp;Capital One Financial | 14928 |  | 3284096 |
| &nbsp;&nbsp;&nbsp;Cboe Global Markets | 151 |  | 37092 |
| &nbsp;&nbsp;&nbsp;Charles Schwab | 34676 |  | 3277576 |
| &nbsp;&nbsp;&nbsp;Chubb | 2290 |  | 634193 |

---

*The accompanying notes are an integral part of the financial statements.* 

**CATHOLIC RESPONSIBLE INVESTMENTS MULTI-STYLE US EQUITY FUND**

**OCTOBER 31, 2025**

---

| | | | |
|:---|:---|:---|:---|
| **COMMON STOCK — continued** | **COMMON STOCK — continued** | **COMMON STOCK — continued** | **COMMON STOCK — continued** |
|  | **Shares** | **Value** | **Value** |
| **FINANCIALS— continued** | **FINANCIALS— continued** | **FINANCIALS— continued** | **FINANCIALS— continued** |
| &nbsp;&nbsp;&nbsp;Citigroup | 7230 | $| 731893 |
| &nbsp;&nbsp;&nbsp;CME Group, Cl A | 1350 |  | 358412 |
| &nbsp;&nbsp;&nbsp;Corebridge Financial | 3233 |  | 105267 |
| &nbsp;&nbsp;&nbsp;Corpay \* | 8160 |  | 2124456 |
| &nbsp;&nbsp;&nbsp;Equitable Holdings | 2059 |  | 101715 |
| &nbsp;&nbsp;&nbsp;Everest Group | 5776 |  | 1816668 |
| &nbsp;&nbsp;&nbsp;Fifth Third Bancorp | 3039 |  | 126483 |
| &nbsp;&nbsp;&nbsp;Fiserv \* | 757 |  | 50484 |
| &nbsp;&nbsp;&nbsp;Global Payments | 215 |  | 16718 |
| &nbsp;&nbsp;&nbsp;Goldman Sachs Group | 3904 |  | 3081700 |
| &nbsp;&nbsp;&nbsp;Hartford Financial Services Group | 1186 |  | 147278 |
| &nbsp;&nbsp;&nbsp;Huntington Bancshares | 222215 |  | 3431000 |
| &nbsp;&nbsp;&nbsp;Intercontinental Exchange | 19798 |  | 2896249 |
| &nbsp;&nbsp;&nbsp;JPMorgan Chase | 43992 |  | 13686791 |
| &nbsp;&nbsp;&nbsp;KeyCorp | 5000 |  | 87950 |
| &nbsp;&nbsp;&nbsp;Klarna Group \*(A) | 569 |  | 21377 |
| &nbsp;&nbsp;&nbsp;LPL Financial Holdings | 11590 |  | 4373023 |
| &nbsp;&nbsp;&nbsp;Marsh & McLennan | 2191 |  | 390327 |
| &nbsp;&nbsp;&nbsp;Mastercard, Cl A | 13223 |  | 7298964 |
| &nbsp;&nbsp;&nbsp;MetLife | 3977 |  | 317444 |
| &nbsp;&nbsp;&nbsp;Moody's | 20141 |  | 9673722 |
| &nbsp;&nbsp;&nbsp;Morgan Stanley | 27091 |  | 4442924 |
| &nbsp;&nbsp;&nbsp;Popular | 445 |  | 49604 |
| &nbsp;&nbsp;&nbsp;Progressive | 1068 |  | 220008 |
| &nbsp;&nbsp;&nbsp;RenaissanceRe Holdings | 501 |  | 127299 |
| &nbsp;&nbsp;&nbsp;Robinhood Markets, Cl A \* | 1295 |  | 190080 |
| &nbsp;&nbsp;&nbsp;Rocket, Cl A | 4331 |  | 72154 |
| &nbsp;&nbsp;&nbsp;S&P Global | 659 |  | 321071 |
| &nbsp;&nbsp;&nbsp;State Street | 772 |  | 89290 |
| &nbsp;&nbsp;&nbsp;TPG, Cl A | 2329 |  | 128188 |
| &nbsp;&nbsp;&nbsp;Tradeweb Markets, Cl A | 2501 |  | 263580 |
| &nbsp;&nbsp;&nbsp;Truist Financial | 842 |  | 37578 |
| &nbsp;&nbsp;&nbsp;US Bancorp | 6906 |  | 322372 |
| &nbsp;&nbsp;&nbsp;Visa, Cl A | 23518 |  | 8013523 |
| &nbsp;&nbsp;&nbsp;Voya Financial | 2284 |  | 170067 |
| &nbsp;&nbsp;&nbsp;Wells Fargo | 56917 |  | 4950071 |
| &nbsp;&nbsp;&nbsp;Western Alliance Bancorp | 852 |  | 65902 |
|  |  |  | 106275423 |
| **HEALTH CARE — 6.2%** | **HEALTH CARE — 6.2%** | **HEALTH CARE — 6.2%** | **HEALTH CARE — 6.2%** |
| &nbsp;&nbsp;&nbsp;BeOne Medicines ADR \* | 464 |  | 144063 |
| &nbsp;&nbsp;&nbsp;Boston Scientific \* | 3317 |  | 334088 |
| &nbsp;&nbsp;&nbsp;Cardinal Health | 800 |  | 152616 |
| &nbsp;&nbsp;&nbsp;Cencora, Cl A | 17756 |  | 5998155 |
| &nbsp;&nbsp;&nbsp;Centene \* | 83891 |  | 2967225 |
| &nbsp;&nbsp;&nbsp;Cigna Group | 965 |  | 235856 |
| &nbsp;&nbsp;&nbsp;CVS Health | 28322 |  | 2213364 |
| &nbsp;&nbsp;&nbsp;Elevance Health | 492 |  | 156062 |
| &nbsp;&nbsp;&nbsp;Humana | 8731 |  | 2428877 |
| &nbsp;&nbsp;&nbsp;IDEXX Laboratories \* | 5190 |  | 3267157 |
| &nbsp;&nbsp;&nbsp;Intuitive Surgical \* | 1114 |  | 595188 |

---

---

| | | | |
|:---|:---|:---|:---|
| **COMMON STOCK — continued** | **COMMON STOCK — continued** | **COMMON STOCK — continued** | **COMMON STOCK — continued** |
|  | **Shares** | **Value** | **Value** |
| **HEALTH CARE— continued** | **HEALTH CARE— continued** | **HEALTH CARE— continued** | **HEALTH CARE— continued** |
| &nbsp;&nbsp;&nbsp;IQVIA Holdings \* | 17358 | $| 3757313 |
| &nbsp;&nbsp;&nbsp;McKesson | 6639 |  | 5386486 |
| &nbsp;&nbsp;&nbsp;Medtronic | 36152 |  | 3278986 |
| &nbsp;&nbsp;&nbsp;Quest Diagnostics | 25720 |  | 4525434 |
| &nbsp;&nbsp;&nbsp;ResMed | 540 |  | 133315 |
| &nbsp;&nbsp;&nbsp;Stryker | 22137 |  | 7886085 |
| &nbsp;&nbsp;&nbsp;Veeva Systems, Cl A \* | 7966 |  | 2319699 |
| &nbsp;&nbsp;&nbsp;West Pharmaceutical Services | 4703 |  | 1326575 |
| &nbsp;&nbsp;&nbsp;Zimmer Biomet Holdings | 1518 |  | 152650 |
| &nbsp;&nbsp;&nbsp;Zoetis, Cl A | 120 |  | 17291 |
|  |  |  | 47276485 |
| **INDUSTRIALS — 11.0%** | **INDUSTRIALS — 11.0%** | **INDUSTRIALS — 11.0%** | **INDUSTRIALS — 11.0%** |
| &nbsp;&nbsp;&nbsp;Allegion | 9029 |  | 1496737 |
| &nbsp;&nbsp;&nbsp;AMETEK | 49593 |  | 10023241 |
| &nbsp;&nbsp;&nbsp;API Group \* | 2673 |  | 98420 |
| &nbsp;&nbsp;&nbsp;Automatic Data Processing | 162 |  | 42169 |
| &nbsp;&nbsp;&nbsp;Booz Allen Hamilton Holding, Cl A | 518 |  | 45149 |
| &nbsp;&nbsp;&nbsp;Canadian National Railway | 1255 |  | 120367 |
| &nbsp;&nbsp;&nbsp;Carrier Global | 1804 |  | 107320 |
| &nbsp;&nbsp;&nbsp;Caterpillar | 1385 |  | 799505 |
| &nbsp;&nbsp;&nbsp;CH Robinson Worldwide | 22497 |  | 3464313 |
| &nbsp;&nbsp;&nbsp;Cintas | 882 |  | 161644 |
| &nbsp;&nbsp;&nbsp;Copart \* | 59761 |  | 2570321 |
| &nbsp;&nbsp;&nbsp;CSX | 7584 |  | 273176 |
| &nbsp;&nbsp;&nbsp;Cummins | 8768 |  | 3837578 |
| &nbsp;&nbsp;&nbsp;Dayforce \* | 1366 |  | 93899 |
| &nbsp;&nbsp;&nbsp;Deere | 758 |  | 349915 |
| &nbsp;&nbsp;&nbsp;Dover | 1299 |  | 235717 |
| &nbsp;&nbsp;&nbsp;Emerson Electric | 23571 |  | 3289804 |
| &nbsp;&nbsp;&nbsp;Equifax | 478 |  | 100906 |
| &nbsp;&nbsp;&nbsp;Esab | 986 |  | 115184 |
| &nbsp;&nbsp;&nbsp;FedEx | 13407 |  | 3402965 |
| &nbsp;&nbsp;&nbsp;GE Aerospace | 19279 |  | 5956247 |
| &nbsp;&nbsp;&nbsp;GE Vernova | 449 |  | 262728 |
| &nbsp;&nbsp;&nbsp;HEICO | 10283 |  | 3267629 |
| &nbsp;&nbsp;&nbsp;Howmet Aerospace | 1334 |  | 274737 |
| &nbsp;&nbsp;&nbsp;Hubbell, Cl B | 9680 |  | 4549600 |
| &nbsp;&nbsp;&nbsp;Ingersoll Rand | 1399 |  | 106786 |
| &nbsp;&nbsp;&nbsp;Johnson Controls International | 1464 |  | 167467 |
| &nbsp;&nbsp;&nbsp;Lennox International | 60 |  | 30300 |
| &nbsp;&nbsp;&nbsp;Middleby \* | 607 |  | 75408 |
| &nbsp;&nbsp;&nbsp;Old Dominion Freight Line | 5255 |  | 737907 |
| &nbsp;&nbsp;&nbsp;PACCAR | 964 |  | 94858 |
| &nbsp;&nbsp;&nbsp;Parker-Hannifin | 447 |  | 345455 |
| &nbsp;&nbsp;&nbsp;Rockwell Automation | 111 |  | 40888 |
| &nbsp;&nbsp;&nbsp;Saia \* | 609 |  | 178132 |
| &nbsp;&nbsp;&nbsp;SiteOne Landscape Supply \* | 552 |  | 71633 |
| &nbsp;&nbsp;&nbsp;Stanley Black & Decker | 892 |  | 60406 |
| &nbsp;&nbsp;&nbsp;Trane Technologies | 491 |  | 220287 |
| &nbsp;&nbsp;&nbsp;TransDigm Group | 9700 |  | 12692547 |

---

*The accompanying notes are an integral part of the financial statements.* 

**CATHOLIC RESPONSIBLE INVESTMENTS MULTI-STYLE US EQUITY FUND**

**OCTOBER 31, 2025**

---

| | | | |
|:---|:---|:---|:---|
| **COMMON STOCK — continued** | **COMMON STOCK — continued** | **COMMON STOCK — continued** | **COMMON STOCK — continued** |
|  | **Shares** | **Value** | **Value** |
| **INDUSTRIALS— continued** | **INDUSTRIALS— continued** | **INDUSTRIALS— continued** | **INDUSTRIALS— continued** |
| &nbsp;&nbsp;&nbsp;TransUnion | 28982 | $| 2352759 |
| &nbsp;&nbsp;&nbsp;Uber Technologies \* | 80609 |  | 7778768 |
| &nbsp;&nbsp;&nbsp;Union Pacific | 634 |  | 139715 |
| &nbsp;&nbsp;&nbsp;United Airlines Holdings \* | 21869 |  | 2056561 |
| &nbsp;&nbsp;&nbsp;United Rentals | 7213 |  | 6283821 |
| &nbsp;&nbsp;&nbsp;Veralto | 22472 |  | 2217537 |
| &nbsp;&nbsp;&nbsp;Verisk Analytics, Cl A | 574 |  | 125568 |
| &nbsp;&nbsp;&nbsp;Vertiv Holdings, Cl A | 1030 |  | 198646 |
| &nbsp;&nbsp;&nbsp;Waste Connections | 712 |  | 119388 |
| &nbsp;&nbsp;&nbsp;Waste Management | 585 |  | 116865 |
| &nbsp;&nbsp;&nbsp;Westinghouse Air Brake Technologies | 12107 |  | 2475155 |
| &nbsp;&nbsp;&nbsp;WW Grainger | 160 |  | 156640 |
| &nbsp;&nbsp;&nbsp;Xylem | 756 |  | 114043 |
|  |  |  | 83896811 |
| **INFORMATION TECHNOLOGY — 36.3%** | **INFORMATION TECHNOLOGY — 36.3%** | **INFORMATION TECHNOLOGY — 36.3%** | **INFORMATION TECHNOLOGY — 36.3%** |
| &nbsp;&nbsp;&nbsp;Accenture, Cl A | 2729 |  | 682523 |
| &nbsp;&nbsp;&nbsp;Adobe \* | 625 |  | 212694 |
| &nbsp;&nbsp;&nbsp;Advanced Micro Devices \* | 14237 |  | 3646380 |
| &nbsp;&nbsp;&nbsp;Amphenol, Cl A | 89061 |  | 12409760 |
| &nbsp;&nbsp;&nbsp;Analog Devices | 26786 |  | 6271406 |
| &nbsp;&nbsp;&nbsp;Apple | 145575 |  | 39359113 |
| &nbsp;&nbsp;&nbsp;Applied Materials | 17304 |  | 4033562 |
| &nbsp;&nbsp;&nbsp;AppLovin, Cl A \* | 608 |  | 387497 |
| &nbsp;&nbsp;&nbsp;Arista Networks \* | 2822 |  | 445001 |
| &nbsp;&nbsp;&nbsp;Autodesk \* | 318 |  | 95826 |
| &nbsp;&nbsp;&nbsp;Broadcom | 56762 |  | 20980938 |
| &nbsp;&nbsp;&nbsp;Cadence Design Systems \* | 383 |  | 129718 |
| &nbsp;&nbsp;&nbsp;CDW | 348 |  | 55461 |
| &nbsp;&nbsp;&nbsp;Cisco Systems | 7201 |  | 526465 |
| &nbsp;&nbsp;&nbsp;Crowdstrike Holdings, Cl A \* | 573 |  | 311145 |
| &nbsp;&nbsp;&nbsp;Datadog, Cl A \* | 1704 |  | 277428 |
| &nbsp;&nbsp;&nbsp;Dell Technologies, Cl C | 27104 |  | 4391119 |
| &nbsp;&nbsp;&nbsp;Descartes Systems Group \* | 1831 |  | 161512 |
| &nbsp;&nbsp;&nbsp;Fair Isaac \* | 41 |  | 68041 |
| &nbsp;&nbsp;&nbsp;First Solar \* | 469 |  | 125195 |
| &nbsp;&nbsp;&nbsp;Flex \* | 52621 |  | 3289865 |
| &nbsp;&nbsp;&nbsp;Fortinet \* | 2515 |  | 217371 |
| &nbsp;&nbsp;&nbsp;Intel \* | 10700 |  | 427893 |
| &nbsp;&nbsp;&nbsp;International Business Machines | 2262 |  | 695361 |
| &nbsp;&nbsp;&nbsp;Intuit | 16920 |  | 11294946 |
| &nbsp;&nbsp;&nbsp;Keysight Technologies \* | 16132 |  | 2951511 |
| &nbsp;&nbsp;&nbsp;KLA | 396 |  | 478661 |
| &nbsp;&nbsp;&nbsp;Lam Research | 12654 |  | 1992499 |
| &nbsp;&nbsp;&nbsp;Marvell Technology | 1723 |  | 161514 |
| &nbsp;&nbsp;&nbsp;Microchip Technology | 56590 |  | 3532348 |
| &nbsp;&nbsp;&nbsp;Micron Technology | 32544 |  | 7282371 |
| &nbsp;&nbsp;&nbsp;Microsoft | 93966 |  | 48656535 |
| &nbsp;&nbsp;&nbsp;Monday.com \* | 187 |  | 38380 |
| &nbsp;&nbsp;&nbsp;Monolithic Power Systems | 432 |  | 434160 |

---

---

| | | | |
|:---|:---|:---|:---|
| **COMMON STOCK — continued** | **COMMON STOCK — continued** | **COMMON STOCK — continued** | **COMMON STOCK — continued** |
|  | **Shares** | **Value** | **Value** |
| **INFORMATION TECHNOLOGY— continued** | **INFORMATION TECHNOLOGY— continued** | **INFORMATION TECHNOLOGY— continued** | **INFORMATION TECHNOLOGY— continued** |
| &nbsp;&nbsp;&nbsp;NVIDIA | 241148 | $| 48830059 |
| &nbsp;&nbsp;&nbsp;NXP Semiconductors | 19096 |  | 3993356 |
| &nbsp;&nbsp;&nbsp;Oracle | 69931 |  | 18364580 |
| &nbsp;&nbsp;&nbsp;Palantir Technologies, Cl A \* | 5230 |  | 1048458 |
| &nbsp;&nbsp;&nbsp;Palo Alto Networks \* | 2162 |  | 476159 |
| &nbsp;&nbsp;&nbsp;PTC \* | 566 |  | 112374 |
| &nbsp;&nbsp;&nbsp;QUALCOMM | 3063 |  | 554097 |
| &nbsp;&nbsp;&nbsp;Roper Technologies | 164 |  | 73169 |
| &nbsp;&nbsp;&nbsp;Salesforce | 10896 |  | 2837427 |
| &nbsp;&nbsp;&nbsp;SAP ADR | 29273 |  | 7611273 |
| &nbsp;&nbsp;&nbsp;Seagate Technology Holdings | 847 |  | 216730 |
| &nbsp;&nbsp;&nbsp;ServiceNow \* | 4615 |  | 4242477 |
| &nbsp;&nbsp;&nbsp;Snowflake, Cl A \* | 11711 |  | 3219120 |
| &nbsp;&nbsp;&nbsp;Taiwan Semiconductor Manufacturing ADR | 14482 |  | 4350827 |
| &nbsp;&nbsp;&nbsp;TE Connectivity | 1443 |  | 356435 |
| &nbsp;&nbsp;&nbsp;Teradyne | 400 |  | 72704 |
| &nbsp;&nbsp;&nbsp;Trimble \* | 18471 |  | 1473062 |
| &nbsp;&nbsp;&nbsp;Tyler Technologies \* | 4674 |  | 2226039 |
| &nbsp;&nbsp;&nbsp;Western Digital | 700 |  | 105147 |
| &nbsp;&nbsp;&nbsp;Workday, Cl A \* | 347 |  | 83252 |
| &nbsp;&nbsp;&nbsp;Zebra Technologies, Cl A \* | 105 |  | 28271 |
|  |  |  | 276299215 |
| **MATERIALS — 4.9%** | **MATERIALS — 4.9%** | **MATERIALS — 4.9%** | **MATERIALS — 4.9%** |
| &nbsp;&nbsp;&nbsp;Agnico Eagle Mines | 300 |  | 48243 |
| &nbsp;&nbsp;&nbsp;Ball | 1331 |  | 62557 |
| &nbsp;&nbsp;&nbsp;CF Industries Holdings | 557 |  | 46392 |
| &nbsp;&nbsp;&nbsp;Corteva | 1405 |  | 86323 |
| &nbsp;&nbsp;&nbsp;CRH | 60167 |  | 7165890 |
| &nbsp;&nbsp;&nbsp;Dow | 781 |  | 18627 |
| &nbsp;&nbsp;&nbsp;Ecolab | 562 |  | 144097 |
| &nbsp;&nbsp;&nbsp;Franco-Nevada | 943 |  | 175992 |
| &nbsp;&nbsp;&nbsp;Freeport-McMoRan | 52468 |  | 2187916 |
| &nbsp;&nbsp;&nbsp;International Paper | 3404 |  | 131530 |
| &nbsp;&nbsp;&nbsp;Kinross Gold | 236841 |  | 5504185 |
| &nbsp;&nbsp;&nbsp;Linde | 26007 |  | 10878728 |
| &nbsp;&nbsp;&nbsp;Martin Marietta Materials | 2962 |  | 1816002 |
| &nbsp;&nbsp;&nbsp;Mosaic | 1242 |  | 34093 |
| &nbsp;&nbsp;&nbsp;Newmont | 42926 |  | 3475718 |
| &nbsp;&nbsp;&nbsp;Packaging Corp of America | 163 |  | 31909 |
| &nbsp;&nbsp;&nbsp;Reliance | 8470 |  | 2392182 |
| &nbsp;&nbsp;&nbsp;RPM International | 193 |  | 21091 |
| &nbsp;&nbsp;&nbsp;Sherwin-Williams | 623 |  | 214898 |
| &nbsp;&nbsp;&nbsp;Steel Dynamics | 11972 |  | 1877210 |
| &nbsp;&nbsp;&nbsp;Vulcan Materials | 504 |  | 145908 |
| &nbsp;&nbsp;&nbsp;West Fraser Timber | 1318 |  | 80398 |
|  |  |  | 36539889 |
| **REAL ESTATE — 0.8%** | **REAL ESTATE — 0.8%** | **REAL ESTATE — 0.8%** | **REAL ESTATE — 0.8%** |
| &nbsp;&nbsp;&nbsp;American Tower <sup>‡</sup> | 21604 |  | 3866684 |
| &nbsp;&nbsp;&nbsp;AvalonBay Communities <sup>‡</sup> | 466 |  | 81047 |
| &nbsp;&nbsp;&nbsp;BXP <sup>‡</sup> | 704 |  | 50118 |

---

*The accompanying notes are an integral part of the financial statements.* 

**CATHOLIC RESPONSIBLE INVESTMENTS MULTI-STYLE US EQUITY FUND**

**OCTOBER 31, 2025**

---

| | | |
|:---|:---|:---|
| **COMMON STOCK — continued** | **COMMON STOCK — continued** | **COMMON STOCK — continued** |
|  | **Shares** | **Value** |
| **REAL ESTATE— continued** | **REAL ESTATE— continued** | **REAL ESTATE— continued** |
| &nbsp;&nbsp;&nbsp;CBRE Group, Cl A \* | 1025 | $156241 |
| &nbsp;&nbsp;&nbsp;CoStar Group \* | 412 | 28350 |
| &nbsp;&nbsp;&nbsp;CubeSmart <sup>‡</sup> | 1816 | 68409 |
| &nbsp;&nbsp;&nbsp;Equinix <sup>‡</sup> | 350 | 296104 |
| &nbsp;&nbsp;&nbsp;Equity LifeStyle Properties <sup>‡</sup> | 400 | 24420 |
| &nbsp;&nbsp;&nbsp;Essex Property Trust <sup>‡</sup> | 347 | 87364 |
| &nbsp;&nbsp;&nbsp;Kimco Realty <sup>‡</sup> | 2767 | 57166 |
| &nbsp;&nbsp;&nbsp;Prologis <sup>‡</sup> | 2605 | 323254 |
| &nbsp;&nbsp;&nbsp;Public Storage <sup>‡</sup> | 434 | 120895 |
| &nbsp;&nbsp;&nbsp;Regency Centers <sup>‡</sup> | 743 | 51230 |
| &nbsp;&nbsp;&nbsp;Rexford Industrial Realty <sup>‡</sup> | 4593 | 189783 |
| &nbsp;&nbsp;&nbsp;Simon Property Group <sup>‡</sup> | 549 | 96492 |
| &nbsp;&nbsp;&nbsp;Sun Communities <sup>‡</sup> | 349 | 44183 |
| &nbsp;&nbsp;&nbsp;Welltower <sup>‡</sup> | 1661 | 300707 |
|  |  | 5842447 |
| **UTILITIES — 1.8%** | **UTILITIES — 1.8%** | **UTILITIES — 1.8%** |
| &nbsp;&nbsp;&nbsp;Alliant Energy | 1600 | 106912 |
| &nbsp;&nbsp;&nbsp;Atmos Energy | 964 | 165538 |
| &nbsp;&nbsp;&nbsp;CenterPoint Energy | 65777 | 2515313 |
| &nbsp;&nbsp;&nbsp;CMS Energy | 1442 | 106059 |
| &nbsp;&nbsp;&nbsp;Consolidated Edison | 2168 | 211185 |
| &nbsp;&nbsp;&nbsp;Constellation Energy | 729 | 274833 |
| &nbsp;&nbsp;&nbsp;Entergy | 39857 | 3829859 |
| &nbsp;&nbsp;&nbsp;Exelon | 1484 | 68442 |
| &nbsp;&nbsp;&nbsp;FirstEnergy | 118386 | 5425630 |
| &nbsp;&nbsp;&nbsp;NextEra Energy | 6635 | 540089 |
| &nbsp;&nbsp;&nbsp;PG&E | 16300 | 260148 |
| &nbsp;&nbsp;&nbsp;Sempra | 3297 | 303126 |
| &nbsp;&nbsp;&nbsp;Southern | 2144 | 201622 |
|  |  | 14008756 |
| &nbsp;&nbsp;&nbsp;Total Common Stock |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $495,331,004) |  | 748540621 |
| **SHORT-TERM INVESTMENT — 0.0%** | **SHORT-TERM INVESTMENT — 0.0%** | **SHORT-TERM INVESTMENT — 0.0%** |
| &nbsp;&nbsp;&nbsp;State Street Institutional U.S. Government Money Market Fund, Institutional Class, 4.290%, (B) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $20,625) | 20625 | $20625 |
| &nbsp;&nbsp;&nbsp;Total Short-Term Investment |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $20,625) |  | 20625 |
| &nbsp;&nbsp;&nbsp;Total Investments in Securities— 98.5% | &nbsp;&nbsp;&nbsp;Total Investments in Securities— 98.5% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $495,351,629) |  | $748561246 |

---

Percentages are based on Net Assets of $759,819,552.

\* Non-income producing security.

&nbsp;&nbsp;&nbsp;&nbsp;‡ Real Estate Investment
 Trust.

# More narrow industries are utilized for compliance purposes, whereas broad sectors are utilized for reporting purposes.

&nbsp;&nbsp;&nbsp;&nbsp;(A) This security or a partial
 position of this security is on loan at October 31, 2025. The total market value of securities on loan at October 31, 2025 was $20,136.

&nbsp;&nbsp;&nbsp;&nbsp;(B) This security was purchased
 with cash collateral received from securities lending. The total was of such securities as of October 31, 2025, was $20,625.

ADR — American Depositary Receipt

Cl — Class

As of October 31, 2025, all of the Fund's investments in securities were considered Level 1, in accordance with the authoritative guidance of fair value measurements and disclosure under accounting principles generally accepted in the United States of America.

For more information on valuation inputs, see Note 2 — Significant Accounting Policies in the Notes to Financial Statements.

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS INTERNATIONAL EQUITY FUND**

**OCTOBER 31, 2025**

**SCHEDULE OF INVESTMENTS**

**COMMON STOCK — 97.7%**

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **AUSTRALIA — 0.2%** |  |  |
| **Materials — 0.2%** |  |  |
| &nbsp;&nbsp;&nbsp;Sandfire Resources \* | 367531 | $3894802 |
| **AUSTRIA — 0.5%** |  |  |
| **Financials — 0.5%** |  |  |
| &nbsp;&nbsp;&nbsp;Erste Group Bank | 106759 | 11073933 |
| **BELGIUM — 0.9%** |  |  |
| **Consumer Staples — 0.6%** |  |  |
| &nbsp;&nbsp;&nbsp;Anheuser-Busch InBev | 191018 | 11663426 |
| **Materials — 0.3%** |  |  |
| &nbsp;&nbsp;&nbsp;Syensqo | 87119 | 7201028 |
|  |  | 18864454 |
| **BERMUDA — 0.8%** |  |  |
| **Financials — 0.8%** |  |  |
| &nbsp;&nbsp;&nbsp;Arch Capital Group | 198497 | 17132276 |
| **BRAZIL — 1.5%** |  |  |
| **Consumer Discretionary — 0.1%** |  |  |
| &nbsp;&nbsp;&nbsp;C&A MODAS | 150900 | 453948 |
| &nbsp;&nbsp;&nbsp;Cury Construtora e Incorporadora | 94200 | 611364 |
| &nbsp;&nbsp;&nbsp;Cyrela Brazil Realty Empreendimentos e Participacoes | 134800 | 762719 |
| &nbsp;&nbsp;&nbsp;Direcional Engenharia | 369300 | 1169932 |
|  |  | 2997963 |
| **Consumer Staples — 0.1%** |  |  |
| &nbsp;&nbsp;&nbsp;JBS \* | 104221 | 1376608 |
| **Financials — 0.9%** |  |  |
| &nbsp;&nbsp;&nbsp;NU Holdings, Cl A \* | 1068802 | 17218400 |
| &nbsp;&nbsp;&nbsp;Pagseguro Digital, Cl A | 178996 | 1716572 |
|  |  | 18934972 |
| **Industrials — 0.1%** |  |  |
| &nbsp;&nbsp;&nbsp;Localiza Rent a Car | 365286 | 2664445 |
| **Materials — 0.3%** |  |  |
| &nbsp;&nbsp;&nbsp;Gerdau ADR | 481977 | 1682100 |
| &nbsp;&nbsp;&nbsp;Suzano | 473100 | 4286333 |
|  |  | 5968433 |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCK — continued** | | |
|  |<br>**Shares** |<br>**Value** |
| **BRAZIL — continued** |  |  |
| **Utilities — 0.0%** |  |  |
| &nbsp;&nbsp;&nbsp;Cia de Saneamento de Minas Gerais Copasa MG | 39500 | $276236 |
|  |  | 32218657 |
| **CANADA — 4.7%** |  |  |
| **Consumer Discretionary — 0.5%** |  |  |
| &nbsp;&nbsp;&nbsp;Dollarama | 81700 | 10630359 |
| **Energy — 0.2%** |  |  |
| &nbsp;&nbsp;&nbsp;ARC Resources | 281000 | 5188217 |
| **Industrials — 2.4%** |  |  |
| &nbsp;&nbsp;&nbsp;Canadian Pacific Kansas City |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(CAD) | 231973 | 16709870 |
| &nbsp;&nbsp;&nbsp;Canadian Pacific Kansas City |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(USD) | 252928 | 18198170 |
| &nbsp;&nbsp;&nbsp;Stantec | 49700 | 5509335 |
| &nbsp;&nbsp;&nbsp;Waste Connections | 62171 | 10424833 |
|  |  | 50842208 |
| **Information Technology — 1.3%** |  |  |
| &nbsp;&nbsp;&nbsp;Shopify, Cl A \* | 102815 | 17875416 |
| &nbsp;&nbsp;&nbsp;Shopify, Cl A \* | 58600 | 10198905 |
|  |  | 28074321 |
| **Materials — 0.3%** |  |  |
| &nbsp;&nbsp;&nbsp;Barrick Gold | 185244 | 6086881 |
|  |  | 100821986 |
| **CAYMAN ISLANDS — 0.0%** |  |  |
| **Financials — 0.0%** |  |  |
| &nbsp;&nbsp;&nbsp;XP, Cl A | 30824 | 561613 |
| **CHILE — 0.1%** |  |  |
| **Consumer Discretionary — 0.1%** |  |  |
| &nbsp;&nbsp;&nbsp;Falabella | 158646 | 995994 |
| **Industrials — 0.0%** |  |  |
| &nbsp;&nbsp;&nbsp;Latam Airlines Group \* | 32242333 | 735079 |
|  |  | 1731073 |
| **CHINA — 7.0%** |  |  |
| **Communication Services — 3.8%** |  |  |
| &nbsp;&nbsp;&nbsp;Kuaishou Technology, Cl B | 129800 | 1204851 |
| &nbsp;&nbsp;&nbsp;NetEase ADR | 26310 | 3686031 |
| &nbsp;&nbsp;&nbsp;Tencent Holdings | 875792 | 71123522 |
| &nbsp;&nbsp;&nbsp;Tencent Music Entertainment Group ADR | 106649 | 2380406 |

---

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS INTERNATIONAL EQUITY FUND**

**OCTOBER 31, 2025**

---

| | | |
|:---|:---|:---|
| **COMMON STOCK — continued** | | |
|  |<br>**Shares** |<br>**Value** |
| **CHINA — continued** | | |
| **Communication Services— continued** |  |  |
| &nbsp;&nbsp;&nbsp;Weibo ADR | 113502 | $1234902 |
|  |  | 79629712 |
| **Consumer Discretionary — 1.2%** |  |  |
| &nbsp;&nbsp;&nbsp;Alibaba Group Holding ADR | 49791 | 8485880 |
| &nbsp;&nbsp;&nbsp;Atour Lifestyle Holdings ADR | 17647 | 687527 |
| &nbsp;&nbsp;&nbsp;Guangdong Xinbao Electrical Appliances Holdings, Cl A | 280200 | 595797 |
| &nbsp;&nbsp;&nbsp;Haier Smart Home, Cl A | 363400 | 1181485 |
| &nbsp;&nbsp;&nbsp;Pop Mart International Group | 92600 | 2633460 |
| &nbsp;&nbsp;&nbsp;Vipshop Holdings ADR | 65868 | 1152031 |
| &nbsp;&nbsp;&nbsp;Yum China Holdings | 270464 | 11700273 |
|  |  | 26436453 |
| **Consumer Staples — 0.1%** |  |  |
| &nbsp;&nbsp;&nbsp;Guangdong Haid Group, Cl A | 106295 | 872517 |
| &nbsp;&nbsp;&nbsp;Kweichow Moutai, Cl A | 11500 | 2313210 |
| &nbsp;&nbsp;&nbsp;Muyuan Foods, Cl A | 63264 | 447720 |
|  |  | 3633447 |
| **Energy — 0.1%** |  |  |
| &nbsp;&nbsp;&nbsp;PetroChina, Cl H | 2792000 | 2885530 |
| **Financials — 1.2%** |  |  |
| &nbsp;&nbsp;&nbsp;China Construction Bank, Cl H | 8073921 | 7991822 |
| &nbsp;&nbsp;&nbsp;China Galaxy Securities, Cl H | 1397000 | 2009302 |
| &nbsp;&nbsp;&nbsp;China International Capital, Cl H | 235200 | 639737 |
| &nbsp;&nbsp;&nbsp;China Life Insurance, Cl H | 655000 | 2065099 |
| &nbsp;&nbsp;&nbsp;New China Life Insurance, Cl H | 296100 | 1870840 |
| &nbsp;&nbsp;&nbsp;People's Insurance Group of China, Cl H | 2280000 | 2047255 |
| &nbsp;&nbsp;&nbsp;PICC Property & Casualty, Cl H | 596000 | 1407766 |
| &nbsp;&nbsp;&nbsp;Ping An Insurance Group of China, Cl H | 682000 | 4925948 |
| &nbsp;&nbsp;&nbsp;Qifu Technology ADR | 72463 | 1749981 |
|  |  | 24707750 |
| **Health Care — 0.0%** |  |  |
| &nbsp;&nbsp;&nbsp;Sinopharm Group, Cl H | 283200 | 705745 |
| **Industrials — 0.3%** |  |  |
| &nbsp;&nbsp;&nbsp;China Railway Group, Cl H | 2140000 | 1085346 |
| &nbsp;&nbsp;&nbsp;COSCO SHIPPING Holdings, Cl H | 952200 | 1650986 |
| &nbsp;&nbsp;&nbsp;Harbin Electric, Cl H | 430000 | 706894 |
| &nbsp;&nbsp;&nbsp;Yutong Bus, Cl A | 436100 | 1981553 |
|  |  | 5424779 |
| **Materials — 0.3%** |  |  |
| &nbsp;&nbsp;&nbsp;China Hongqiao Group | 853000 | 3237978 |
| &nbsp;&nbsp;&nbsp;China Lumena New Materials \*(A) | 15350 |  |
| &nbsp;&nbsp;&nbsp;Jiangxi Copper, Cl H | 166000 | 692478 |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCK — continued** | | |
|  |<br>**Shares** |<br>**Value** |
| **CHINA — continued** |  |  |
| **Materials— continued** |  |  |
| &nbsp;&nbsp;&nbsp;Yunnan Yuntianhua, Cl A | 239000 | $966327 |
| &nbsp;&nbsp;&nbsp;Zhejiang NHU, Cl A | 646079 | 2207540 |
|  |  | 7104323 |
|  |  | 150527739 |
| **DENMARK — 0.2%** |  |  |
| **Health Care — 0.2%** |  |  |
| &nbsp;&nbsp;&nbsp;Ascendis Pharma ADR \* | 18643 | 3758429 |
| **FRANCE — 9.1%** |  |  |
| **Consumer Discretionary — 2.4%** |  |  |
| &nbsp;&nbsp;&nbsp;Hermes International | 2284 | 5659275 |
| &nbsp;&nbsp;&nbsp;Kering | 120566 | 42872668 |
| &nbsp;&nbsp;&nbsp;LVMH Moet Hennessy Louis Vuitton | 7177 | 5079697 |
|  |  | 53611640 |
| **Consumer Staples — 0.7%** |  |  |
| &nbsp;&nbsp;&nbsp;Danone | 87476 | 7735984 |
| &nbsp;&nbsp;&nbsp;L'Oreal | 21266 | 8886488 |
|  |  | 16622472 |
| **Energy — 0.3%** |  |  |
| &nbsp;&nbsp;&nbsp;Gaztransport Et Technigaz | 20868 | 4138050 |
| &nbsp;&nbsp;&nbsp;Technip Energies | 67442 | 2744131 |
|  |  | 6882181 |
| **Financials — 1.5%** |  |  |
| &nbsp;&nbsp;&nbsp;AXA | 104750 | 4551053 |
| &nbsp;&nbsp;&nbsp;BNP Paribas | 210487 | 16325847 |
| &nbsp;&nbsp;&nbsp;Societe Generale | 138682 | 8807141 |
| &nbsp;&nbsp;&nbsp;Worldline \*(B) | 524863 | 1424879 |
|  |  | 31108920 |
| **Health Care — 0.3%** |  |  |
| &nbsp;&nbsp;&nbsp;Abivax \* | 14398 | 1504116 |
| &nbsp;&nbsp;&nbsp;Ipsen | 28951 | 4073996 |
|  |  | 5578112 |
| **Industrials — 2.7%** |  |  |
| &nbsp;&nbsp;&nbsp;Alstom \* | 1092165 | 27349173 |
| &nbsp;&nbsp;&nbsp;Cie de Saint-Gobain | 174281 | 16938840 |
| &nbsp;&nbsp;&nbsp;Elis | 135481 | 3778111 |
| &nbsp;&nbsp;&nbsp;Rexel | 116986 | 4061949 |
| &nbsp;&nbsp;&nbsp;Schneider Electric | 11624 | 3316483 |
|  |  | 55444556 |
| **Information Technology — 0.8%** |  |  |
| &nbsp;&nbsp;&nbsp;Capgemini | 84456 | 13010658 |
| &nbsp;&nbsp;&nbsp;Dassault Systemes | 134552 | 3834201 |
|  |  | 16844859 |

---

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS INTERNATIONAL EQUITY FUND**

**OCTOBER 31, 2025**

---

| | | |
|:---|:---|:---|
| **COMMON STOCK — continued** | | |
|  |<br>**Shares** |<br>**Value** |
| **FRANCE — continued** |  |  |
| **Materials — 0.4%** |  |  |
| &nbsp;&nbsp;&nbsp;Air Liquide | 40332 | $7816317 |
|  |  | 193909057 |
| **GERMANY — 9.6%** |  |  |
| **Communication Services — 1.8%** |  |  |
| &nbsp;&nbsp;&nbsp;Deutsche Telekom | 1089434 | 33790836 |
| &nbsp;&nbsp;&nbsp;Scout24 | 43785 | 5070387 |
|  |  | 38861223 |
| **Financials — 1.3%** |  |  |
| &nbsp;&nbsp;&nbsp;Deutsche Bank | 218784 | 7843052 |
| &nbsp;&nbsp;&nbsp;Deutsche Boerse | 45705 | 11589920 |
| &nbsp;&nbsp;&nbsp;Hannover Rueck | 30467 | 8709378 |
|  |  | 28142350 |
| **Industrials — 2.7%** |  |  |
| &nbsp;&nbsp;&nbsp;Daimler Truck Holding | 121561 | 4879046 |
| &nbsp;&nbsp;&nbsp;Siemens Energy \* | 421645 | 52601481 |
|  |  | 57480527 |
| **Information Technology — 3.2%** |  |  |
| &nbsp;&nbsp;&nbsp;Infineon Technologies | 397857 | 15813351 |
| &nbsp;&nbsp;&nbsp;Nemetschek | 97217 | 11248596 |
| &nbsp;&nbsp;&nbsp;SAP | 164030 | 42717110 |
|  |  | 69779057 |
| **Materials — 0.4%** |  |  |
| &nbsp;&nbsp;&nbsp;LANXESS | 329107 | 7847754 |
| **Utilities — 0.2%** |  |  |
| &nbsp;&nbsp;&nbsp;E.ON | 208844 | 3891061 |
| &nbsp;&nbsp;&nbsp;RWE | 1067 | 52600 |
|  |  | 3943661 |
|  |  | 206054572 |
| **GREECE — 0.5%** |  |  |
| **Consumer Discretionary — 0.0%** |  |  |
| &nbsp;&nbsp;&nbsp;FF Group \*(A) | 8921 |  |
| &nbsp;&nbsp;&nbsp;JUMBO | 44044 | 1400013 |
|  |  | 1400013 |
| **Financials — 0.5%** |  |  |
| &nbsp;&nbsp;&nbsp;National Bank of Greece | 680169 | 10010934 |
|  |  | 11410947 |
| **HONG KONG — 1.4%** |  |  |
| **Consumer Discretionary — 0.1%** |  |  |
| &nbsp;&nbsp;&nbsp;Geely Automobile Holdings | 669000 | 1586738 |
| **Consumer Staples — 0.0%** |  |  |
| &nbsp;&nbsp;&nbsp;JD Health International \* | 92750 | 723848 |
| &nbsp;&nbsp;&nbsp;WH Group | 75534 | 72642 |
|  |  | 796490 |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCK — continued** | | |
|  |<br>**Shares** |<br>**Value** |
| **HONG KONG — continued** | **HONG KONG — continued** | **HONG KONG — continued** |
| **Financials — 1.1%** | **Financials — 1.1%** | **Financials — 1.1%** |
| &nbsp;&nbsp;&nbsp;AIA Group | 1594000 | $15507502 |
| &nbsp;&nbsp;&nbsp;Prudential | 687797 | 9567059 |
|  |  | 25074561 |
| **Health Care — 0.1%** |  |  |
| &nbsp;&nbsp;&nbsp;BeOne Medicines \* | 52000 | 1249935 |
| **Information Technology — 0.1%** |  |  |
| &nbsp;&nbsp;&nbsp;Lenovo Group | 1178000 | 1718160 |
|  |  | 30425884 |
| **INDIA — 2.9%** |  |  |
| **Consumer Discretionary — 0.2%** |  |  |
| &nbsp;&nbsp;&nbsp;Eicher Motors | 13745 | 1083965 |
| &nbsp;&nbsp;&nbsp;Mahindra & Mahindra | 44826 | 1760231 |
| &nbsp;&nbsp;&nbsp;Maruti Suzuki India | 8851 | 1611905 |
|  |  | 4456101 |
| **Consumer Staples — 0.1%** |  |  |
| &nbsp;&nbsp;&nbsp;Varun Beverages | 489006 | 2584099 |
| **Energy — 0.1%** |  |  |
| &nbsp;&nbsp;&nbsp;Bharat Petroleum | 364156 | 1460886 |
| **Financials — 1.7%** |  |  |
| &nbsp;&nbsp;&nbsp;Bank of India | 957684 | 1508397 |
| &nbsp;&nbsp;&nbsp;BSE | 33747 | 942745 |
| &nbsp;&nbsp;&nbsp;Canara Bank | 1710989 | 2638257 |
| &nbsp;&nbsp;&nbsp;ICICI Bank ADR | 646749 | 19596495 |
| &nbsp;&nbsp;&nbsp;L&T Finance | 487897 | 1485986 |
| &nbsp;&nbsp;&nbsp;LIC Housing Finance | 207919 | 1336904 |
| &nbsp;&nbsp;&nbsp;Muthoot Finance | 64785 | 2321257 |
| &nbsp;&nbsp;&nbsp;REC | 783431 | 3306102 |
| &nbsp;&nbsp;&nbsp;South Indian Bank | 3259466 | 1344492 |
|  |  | 34480635 |
| **Health Care — 0.1%** |  |  |
| &nbsp;&nbsp;&nbsp;Dr Lal PathLabs | 45394 | 1603218 |
| &nbsp;&nbsp;&nbsp;Yatharth Hospital & Trauma Care Services \* | 82627 | 741095 |
|  |  | 2344313 |
| **Industrials — 0.1%** |  |  |
| &nbsp;&nbsp;&nbsp;Polycab India | 15921 | 1380955 |
| **Information Technology — 0.2%** |  |  |
| &nbsp;&nbsp;&nbsp;Infosys ADR (B) | 121619 | 2015227 |
| &nbsp;&nbsp;&nbsp;Persistent Systems | 19749 | 1314260 |
|  |  | 3329487 |
| **Materials — 0.4%** |  |  |
| &nbsp;&nbsp;&nbsp;APL Apollo Tubes | 117177 | 2363421 |

---

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS INTERNATIONAL EQUITY FUND**

**OCTOBER 31, 2025**

---

| | | |
|:---|:---|:---|
| **COMMON STOCK — continued** | | |
|  |<br>**Shares** |<br>**Value** |
| **INDIA — continued** | **INDIA — continued** | **INDIA — continued** |
| **Materials— continued** |  |  |
| &nbsp;&nbsp;&nbsp;Chambal Fertilisers and Chemicals | 194930 | $1055292 |
| &nbsp;&nbsp;&nbsp;Hindalco Industries | 180938 | 1725753 |
| &nbsp;&nbsp;&nbsp;JK Cement | 13601 | 951551 |
| &nbsp;&nbsp;&nbsp;National Aluminium | 401418 | 1056950 |
| &nbsp;&nbsp;&nbsp;NMDC | 2396911 | 2044791 |
| &nbsp;&nbsp;&nbsp;Paradeep Phosphates | 715803 | 1340963 |
| &nbsp;&nbsp;&nbsp;Rallis India | 210575 | 612868 |
| &nbsp;&nbsp;&nbsp;Welspun | 102316 | 1113220 |
|  |  | 12264809 |
|  |  | 62301285 |
| **INDONESIA — 0.3%** |  |  |
| **Consumer Staples — 0.0%** |  |  |
| &nbsp;&nbsp;&nbsp;Indofood Sukses Makmur | 1050400 | 467444 |
| **Financials — 0.2%** |  |  |
| &nbsp;&nbsp;&nbsp;Bank Central Asia | 7563300 | 3872349 |
| **Industrials — 0.1%** |  |  |
| &nbsp;&nbsp;&nbsp;Astra International | 4694300 | 1735781 |
| **Utilities — 0.0%** |  |  |
| &nbsp;&nbsp;&nbsp;Perusahaan Gas Negara | 6253200 | 653812 |
|  |  | 6729386 |
| **IRELAND — 2.6%** |  |  |
| **Consumer Discretionary — 0.1%** |  |  |
| &nbsp;&nbsp;&nbsp;PDD Holdings ADR \* | 11281 | 1521469 |
| **Financials — 1.0%** |  |  |
| &nbsp;&nbsp;&nbsp;AIB Group | 1173874 | 10833369 |
| &nbsp;&nbsp;&nbsp;Aon, Cl A | 30718 | 10465008 |
|  |  | 21298377 |
| **Health Care — 0.4%** |  |  |
| &nbsp;&nbsp;&nbsp;ICON \* | 48270 | 8293752 |
| **Industrials — 0.8%** |  |  |
| &nbsp;&nbsp;&nbsp;Experian | 253787 | 11839326 |
| &nbsp;&nbsp;&nbsp;Ryanair Holdings | 188017 | 5699991 |
|  |  | 17539317 |
| **Materials — 0.3%** |  |  |
| &nbsp;&nbsp;&nbsp;Smurfit WestRock | 209800 | 7745816 |
|  |  | 56398731 |
| **ISRAEL — 0.6%** |  |  |
| **Information Technology — 0.6%** |  |  |
| &nbsp;&nbsp;&nbsp;Monday.com \* | 57182 | 11736034 |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCK — continued** | | |
|  |<br>**Shares** |<br>**Value** |
| **ISRAEL — continued** | **ISRAEL — continued** | **ISRAEL — continued** |
| **Information Technology— continued** |  |  |
| &nbsp;&nbsp;&nbsp;Wix.com \* | 6962 | $1013249 |
|  |  | 12749283 |
|  |  | 12749283 |
| **ITALY — 1.9%** |  |  |
| **Consumer Discretionary — 0.9%** |  |  |
| &nbsp;&nbsp;&nbsp;Ferrari | 31453 | 12612642 |
| &nbsp;&nbsp;&nbsp;PRADA | 1044900 | 6164925 |
|  |  | 18777567 |
| **Financials — 0.7%** |  |  |
| &nbsp;&nbsp;&nbsp;UniCredit | 208472 | 15457437 |
| **Utilities — 0.3%** |  |  |
| &nbsp;&nbsp;&nbsp;Enel | 668741 | 6773928 |
|  |  | 41008932 |
| **JAPAN — 9.2%** |  |  |
| **Communication Services — 1.9%** |  |  |
| &nbsp;&nbsp;&nbsp;KDDI | 139400 | 2222880 |
| &nbsp;&nbsp;&nbsp;Nintendo | 455700 | 38880482 |
|  |  | 41103362 |
| **Financials — 1.1%** |  |  |
| &nbsp;&nbsp;&nbsp;Sompo Holdings | 608000 | 18535703 |
| &nbsp;&nbsp;&nbsp;Sumitomo Mitsui Financial Group | 146100 | 3956896 |
|  |  | 22492599 |
| **Health Care — 0.8%** |  |  |
| &nbsp;&nbsp;&nbsp;Hoya | 101400 | 16476496 |
| **Industrials — 2.9%** |  |  |
| &nbsp;&nbsp;&nbsp;FANUC | 554100 | 18497720 |
| &nbsp;&nbsp;&nbsp;Kajima | 182200 | 5875819 |
| &nbsp;&nbsp;&nbsp;Komatsu | 125300 | 4192903 |
| &nbsp;&nbsp;&nbsp;Mitsubishi Electric | 450800 | 12803957 |
| &nbsp;&nbsp;&nbsp;SMC | 43500 | 14896346 |
| &nbsp;&nbsp;&nbsp;TOPPAN Holdings | 226900 | 5551466 |
|  |  | 61818211 |
| **Information Technology — 2.1%** |  |  |
| &nbsp;&nbsp;&nbsp;Keyence | 25300 | 9393063 |
| &nbsp;&nbsp;&nbsp;Murata Manufacturing | 584200 | 12600386 |
| &nbsp;&nbsp;&nbsp;Renesas Electronics | 1865800 | 23050061 |
|  |  | 45043510 |
| **Materials — 0.1%** |  |  |
| &nbsp;&nbsp;&nbsp;Toyo Seikan Group Holdings | 102900 | 2310954 |

---

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS INTERNATIONAL EQUITY FUND**

**OCTOBER 31, 2025**

---

| | | |
|:---|:---|:---|
| **COMMON STOCK — continued** | | |
|  |<br>**Shares** |<br>**Value** |
| **JAPAN — continued** | **JAPAN — continued** | **JAPAN — continued** |
| **Utilities — 0.3%** | **Utilities — 0.3%** | **Utilities — 0.3%** |
| &nbsp;&nbsp;&nbsp;Chubu Electric Power | 486000 | $6760616 |
|  |  | 196005748 |
| **JERSEY — 0.1%** |  |  |
| **Financials — 0.1%** |  |  |
| &nbsp;&nbsp;&nbsp;CVC Capital Partners | 91198 | 1525203 |
| **LUXEMBOURG — 1.3%** |  |  |
| **Communication Services — 1.3%** |  |  |
| &nbsp;&nbsp;&nbsp;Spotify Technology \* | 43058 | 28216769 |
| **MALAYSIA — 0.1%** |  |  |
| **Industrials — 0.1%** |  |  |
| &nbsp;&nbsp;&nbsp;Zetrix AI Berhad | 8259000 | 1664058 |
| **MEXICO — 0.3%** |  |  |
| **Consumer Discretionary — 0.0%** |  |  |
| &nbsp;&nbsp;&nbsp;Alsea | 134300 | 372173 |
| **Consumer Staples — 0.1%** |  |  |
| &nbsp;&nbsp;&nbsp;Arca Continental | 138900 | 1346060 |
| **Financials — 0.2%** |  |  |
| &nbsp;&nbsp;&nbsp;Gentera | 703000 | 1670011 |
| &nbsp;&nbsp;&nbsp;Grupo Financiero Banorte, Cl O | 210300 | 1977114 |
|  |  | 3647125 |
|  |  | 5365358 |
| **NETHERLANDS — 7.5%** |  |  |
| **Communication Services — 0.3%** |  |  |
| &nbsp;&nbsp;&nbsp;Universal Music Group | 224237 | 6022576 |
| **Consumer Staples — 0.6%** |  |  |
| &nbsp;&nbsp;&nbsp;Heineken | 167564 | 12992328 |
| **Financials — 1.3%** |  |  |
| &nbsp;&nbsp;&nbsp;Adyen \* | 11315 | 19414170 |
| &nbsp;&nbsp;&nbsp;ASR Nederland | 44290 | 2959833 |
| &nbsp;&nbsp;&nbsp;ING Groep | 253211 | 6331106 |
|  |  | 28705109 |
| **Health Care — 0.7%** |  |  |
| &nbsp;&nbsp;&nbsp;Koninklijke Philips | 558884 | 15331343 |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCK — continued** | | |
|  |<br>**Shares** |<br>**Value** |
| **NETHERLANDS — continued** | **NETHERLANDS — continued** | **NETHERLANDS — continued** |
| **Information Technology — 3.8%** |  |  |
| &nbsp;&nbsp;&nbsp;ASM International | 28626 | $18598829 |
| &nbsp;&nbsp;&nbsp;ASML Holding | 26469 | 28023596 |
| &nbsp;&nbsp;&nbsp;ASML Holding, Cl G | 28671 | 30369183 |
| &nbsp;&nbsp;&nbsp;BE Semiconductor Industries | 18372 | 3136571 |
|  |  | 80128179 |
| **Materials — 0.8%** |  |  |
| &nbsp;&nbsp;&nbsp;Akzo Nobel | 251758 | 16659859 |
|  |  | 159839394 |
| **NEW ZEALAND — 0.1%** |  |  |
| **Health Care — 0.1%** |  |  |
| &nbsp;&nbsp;&nbsp;Fisher & Paykel Healthcare | 118728 | 2518801 |
| **POLAND — 0.1%** |  |  |
| **Financials — 0.1%** |  |  |
| &nbsp;&nbsp;&nbsp;Powszechny Zaklad Ubezpieczen | 109812 | 1757230 |
| **QATAR — 0.0%** |  |  |
| **Communication Services — 0.0%** |  |  |
| &nbsp;&nbsp;&nbsp;Ooredoo QPSC | 243889 | 907089 |
| **RUSSIA — 0.0%** |  |  |
| **Financials — 0.0%** |  |  |
| &nbsp;&nbsp;&nbsp;Sberbank of Russia PJSC ADR (A) | 55964 |  |
| **SAUDI ARABIA — 0.1%** |  |  |
| **Financials — 0.1%** |  |  |
| &nbsp;&nbsp;&nbsp;Riyad Bank | 111487 | 809576 |
| &nbsp;&nbsp;&nbsp;Saudi National Bank | 74423 | 791934 |
|  |  | 1601510 |
|  |  | 1601510 |
| **SINGAPORE — 3.5%** |  |  |
| **Communication Services — 0.0%** |  |  |
| &nbsp;&nbsp;&nbsp;JOYY ADR | 12185 | 722692 |
| **Consumer Discretionary — 2.1%** |  |  |
| &nbsp;&nbsp;&nbsp;Sea ADR \* | 216217 | 33783906 |
| &nbsp;&nbsp;&nbsp;Trip.com Group | 161350 | 11352020 |
|  |  | 45135926 |

---

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS INTERNATIONAL EQUITY FUND**

**OCTOBER 31, 2025**

---

| | | |
|:---|:---|:---|
| **COMMON STOCK — continued** | | |
|  |<br>**Shares** |<br>**Value** |
| **SINGAPORE — continued** |  |  |
| **Financials — 0.4%** |  |  |
| &nbsp;&nbsp;&nbsp;United Overseas Bank | 306100 | $8142424 |
| **Information Technology — 1.0%** |  |  |
| &nbsp;&nbsp;&nbsp;Seagate Technology Holdings | 80212 | 20524647 |
|  |  | 74525689 |
| **SOUTH AFRICA — 0.4%** |  |  |
| **Communication Services — 0.0%** |  |  |
| &nbsp;&nbsp;&nbsp;MTN Group Limited | 98393 | 983280 |
| **Financials — 0.1%** |  |  |
| &nbsp;&nbsp;&nbsp;FirstRand | 290883 | 1380899 |
| &nbsp;&nbsp;&nbsp;Old Mutual | 1011915 | 791499 |
|  |  | 2172398 |
| **Materials — 0.3%** |  |  |
| &nbsp;&nbsp;&nbsp;Gold Fields | 87645 | 3380226 |
| &nbsp;&nbsp;&nbsp;Impala Platinum Holdings | 212824 | 2281490 |
|  |  | 5661716 |
|  |  | 8817394 |
| **SOUTH KOREA — 3.2%** |  |  |
| **Communication Services — 0.2%** |  |  |
| &nbsp;&nbsp;&nbsp;Krafton \* | 3827 | 740707 |
| &nbsp;&nbsp;&nbsp;KT | 27973 | 963547 |
| &nbsp;&nbsp;&nbsp;LG Uplus | 60044 | 641847 |
|  |  | 2346101 |
| **Consumer Discretionary — 0.3%** |  |  |
| &nbsp;&nbsp;&nbsp;Hankook Tire & Technology | 15878 | 515519 |
| &nbsp;&nbsp;&nbsp;Hyundai Mobis | 9444 | 2088422 |
| &nbsp;&nbsp;&nbsp;Hyundai Motor | 11654 | 2363309 |
| &nbsp;&nbsp;&nbsp;Kia | 27882 | 2338704 |
| &nbsp;&nbsp;&nbsp;Youngone | 17316 | 702122 |
|  |  | 8008076 |
| **Energy — 0.1%** |  |  |
| &nbsp;&nbsp;&nbsp;HD Hyundai | 6643 | 954155 |
| **Financials — 0.5%** |  |  |
| &nbsp;&nbsp;&nbsp;DB Insurance | 10595 | 941723 |
| &nbsp;&nbsp;&nbsp;Hana Financial Group | 41881 | 2509031 |
| &nbsp;&nbsp;&nbsp;KIWOOM Securities | 4191 | 870526 |
| &nbsp;&nbsp;&nbsp;Samsung Securities | 17674 | 956548 |
| &nbsp;&nbsp;&nbsp;Shinhan Financial Group | 32421 | 1665225 |
| &nbsp;&nbsp;&nbsp;Woori Financial Group | 89334 | 1590297 |
|  |  | 8533350 |
| **Health Care — 0.1%** |  |  |
| &nbsp;&nbsp;&nbsp;PharmaResearch | 4301 | 1628391 |

---

---

| | | |
|:---|:---|:---|
| **COMMON STOCK — continued** | | |
|  |<br>**Shares** |<br>**Value** |
| **SOUTH KOREA — continued** |  |  |
| **Industrials — 0.2%** |  |  |
| &nbsp;&nbsp;&nbsp;Doosan | 1079 | $712965 |
| &nbsp;&nbsp;&nbsp;GS Holdings | 12915 | 434093 |
| &nbsp;&nbsp;&nbsp;Hanwha | 23873 | 1596727 |
| &nbsp;&nbsp;&nbsp;HD Korea Shipbuilding & Offshore Engineering | 3983 | 1323872 |
| &nbsp;&nbsp;&nbsp;Korean Air Lines | 40872 | 634261 |
| &nbsp;&nbsp;&nbsp;LX International | 25015 | 528527 |
| &nbsp;&nbsp;&nbsp;Samsung E&A | 22061 | 401076 |
|  |  | 5631521 |
| **Information Technology — 1.7%** |  |  |
| &nbsp;&nbsp;&nbsp;BH | 33720 | 433209 |
| &nbsp;&nbsp;&nbsp;LG Innotek | 2788 | 470314 |
| &nbsp;&nbsp;&nbsp;Samsung Electronics GDR | 3597 | 6713204 |
| &nbsp;&nbsp;&nbsp;Samsung Electronics | 283724 | 21357670 |
| &nbsp;&nbsp;&nbsp;SK Hynix | 23468 | 9131247 |
|  |  | 38105644 |
| **Utilities — 0.1%** |  |  |
| &nbsp;&nbsp;&nbsp;Korea Electric Power | 74657 | 2234786 |
|  |  | 67442024 |
| **SPAIN — 0.4%** |  |  |
| **Consumer Discretionary — 0.3%** |  |  |
| &nbsp;&nbsp;&nbsp;Industria de Diseno Textil | 117956 | 6522344 |
| **Utilities — 0.1%** |  |  |
| &nbsp;&nbsp;&nbsp;Iberdrola | 90961 | 1845919 |
|  |  | 8368263 |
| **SWEDEN — 1.1%** |  |  |
| **Consumer Discretionary — 0.2%** |  |  |
| &nbsp;&nbsp;&nbsp;Electrolux, Cl B \* | 814834 | 5262193 |
| **Industrials — 0.5%** |  |  |
| &nbsp;&nbsp;&nbsp;Atlas Copco, Cl A | 622026 | 10431218 |
| **Information Technology — 0.4%** |  |  |
| &nbsp;&nbsp;&nbsp;Hexagon, Cl B | 623023 | 7600614 |
|  |  | 23294025 |
| **SWITZERLAND — 1.9%** |  |  |
| **Consumer Staples — 0.0%** |  |  |
| &nbsp;&nbsp;&nbsp;Nestle | 375 | 35920 |
| **Financials — 0.8%** |  |  |
| &nbsp;&nbsp;&nbsp;UBS Group | 429817 | 16488067 |

---

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS INTERNATIONAL EQUITY FUND**

**OCTOBER 31, 2025**

**COMMON STOCK — continued**

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **SWITZERLAND — continued** |  |  |
| **Health Care — 0.5%** |  |  |
| &nbsp;&nbsp;&nbsp;Alcon | 102739 | $7676731 |
| &nbsp;&nbsp;&nbsp;Galderma Group | 23339 | 4345134 |
|  |  | 12021865 |
| **Industrials — 0.6%** |  |  |
| &nbsp;&nbsp;&nbsp;ABB | 171922 | 12813824 |
|  |  | 41359676 |
| **TAIWAN — 7.4%** |  |  |
| **Consumer Discretionary — 0.0%** |  |  |
| &nbsp;&nbsp;&nbsp;Pou Chen | 630000 | 599440 |
| **Industrials — 0.1%** |  |  |
| &nbsp;&nbsp;&nbsp;Eva Airways | 1217000 | 1428596 |
| **Information Technology — 7.3%** |  |  |
| &nbsp;&nbsp;&nbsp;Accton Technology | 77000 | 2677807 |
| &nbsp;&nbsp;&nbsp;ADATA Technology | 166000 | 1065646 |
| &nbsp;&nbsp;&nbsp;Arcadyan Technology | 115000 | 751543 |
| &nbsp;&nbsp;&nbsp;Asia Vital Components | 36087 | 1652088 |
| &nbsp;&nbsp;&nbsp;ASPEED Technology | 6772 | 1200968 |
| &nbsp;&nbsp;&nbsp;Delta Electronics | 60000 | 1929832 |
| &nbsp;&nbsp;&nbsp;Elite Material | 48000 | 2108914 |
| &nbsp;&nbsp;&nbsp;Gigabyte Technology | 112000 | 1015318 |
| &nbsp;&nbsp;&nbsp;Global Unichip | 9000 | 444960 |
| &nbsp;&nbsp;&nbsp;Gold Circuit Electronics | 124000 | 1861757 |
| &nbsp;&nbsp;&nbsp;Hon Hai Precision Industry | 600000 | 4990432 |
| &nbsp;&nbsp;&nbsp;King Slide Works | 5000 | 663309 |
| &nbsp;&nbsp;&nbsp;King Yuan Electronics | 90000 | 631028 |
| &nbsp;&nbsp;&nbsp;MPI | 16000 | 1084878 |
| &nbsp;&nbsp;&nbsp;Taiwan Semiconductor Manufacturing | 1586000 | 76698461 |
| &nbsp;&nbsp;&nbsp;Taiwan Semiconductor Manufacturing ADR | 174646 | 52468898 |
| &nbsp;&nbsp;&nbsp;Taiwan Surface Mounting Technology | 171000 | 609590 |
| &nbsp;&nbsp;&nbsp;Wistron | 425000 | 2059687 |
| &nbsp;&nbsp;&nbsp;Wiwynn | 19000 | 2679373 |
|  |  | 156594489 |
|  |  | 158622525 |
| **THAILAND — 0.2%** |  |  |
| **Consumer Discretionary — 0.0%** |  |  |
| &nbsp;&nbsp;&nbsp;Com7, Cl F | 973200 | 751476 |
| **Consumer Staples — 0.2%** |  |  |
| &nbsp;&nbsp;&nbsp;Charoen Pokphand Foods | 1354900 | 883378 |
| &nbsp;&nbsp;&nbsp;CP ALL | 1097600 | 1560613 |
|  |  | 2443991 |

---

**COMMON STOCK — continued**

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares** | **Value** | **Value** |
| **THAILAND — continued** |  |  |  |
| **Real Estate — 0.0%** |  |  |  |
| &nbsp;&nbsp;&nbsp;Sansiri | 4370400 | $| 189194 |
|  |  |  | 3384661 |
| **TÜRKIYE — 0.2%** |  |  |  |
| **Consumer Staples — 0.0%** |  |  |  |
| &nbsp;&nbsp;&nbsp;Ulker Biskuvi Sanayi | 336226 |  | 862803 |
| **Industrials — 0.1%** |  |  |  |
| &nbsp;&nbsp;&nbsp;Anadolu Grubu Holding | 561040 |  | 342064 |
| &nbsp;&nbsp;&nbsp;Turk Hava Yollari AO | 162485 |  | 1125320 |
|  |  |  | 1467384 |
| **Real Estate — 0.1%** |  |  |  |
| &nbsp;&nbsp;&nbsp;Emlak Konut Gayrimenkul Yatirim Ortakligi ‡ | 1887910 |  | 905027 |
|  |  |  | 3235214 |
| **UNITED ARAB EMIRATES — 0.2%** | **UNITED ARAB EMIRATES — 0.2%** | **UNITED ARAB EMIRATES — 0.2%** | **UNITED ARAB EMIRATES — 0.2%** |
| **Communication Services — 0.0%** | **Communication Services — 0.0%** | **Communication Services — 0.0%** | **Communication Services — 0.0%** |
| &nbsp;&nbsp;&nbsp;Emirates Telecommunications Group PJSC | 182168 |  | 961808 |
| **Real Estate — 0.2%** |  |  |  |
| &nbsp;&nbsp;&nbsp;Aldar Properties PJSC | 549741 |  | 1346930 |
| &nbsp;&nbsp;&nbsp;Emaar Properties PJSC | 577098 |  | 2233164 |
|  |  |  | 3580094 |
|  |  |  | 4541902 |
| **UNITED KINGDOM — 12.3%** |  |  |  |
| **Consumer Discretionary — 2.2%** |  |  |  |
| &nbsp;&nbsp;&nbsp;Berkeley Group Holdings | 106373 |  | 5635738 |
| &nbsp;&nbsp;&nbsp;Compass Group | 612430 |  | 20273700 |
| &nbsp;&nbsp;&nbsp;SSP Group | 7119896 |  | 14391101 |
| &nbsp;&nbsp;&nbsp;WH Smith | 651240 |  | 5785652 |
|  |  |  | 46086191 |
| **Consumer Staples — 1.2%** |  |  |  |
| &nbsp;&nbsp;&nbsp;Diageo | 633416 |  | 14571380 |
| &nbsp;&nbsp;&nbsp;Unilever | 190550 |  | 11435168 |
|  |  |  | 26006548 |
| **Energy — 0.7%** |  |  |  |
| &nbsp;&nbsp;&nbsp;BP | 2520194 |  | 14767065 |
| &nbsp;&nbsp;&nbsp;Shell (EUR) | 1553 |  | 58387 |
| &nbsp;&nbsp;&nbsp;Shell (GBP) | 1668 |  | 62540 |
|  |  |  | 14887992 |
| **Financials — 3.3%** |  |  |  |
| &nbsp;&nbsp;&nbsp;3i Group | 555704 |  | 32162687 |
| &nbsp;&nbsp;&nbsp;Barclays | 4114373 |  | 22070520 |
| &nbsp;&nbsp;&nbsp;NatWest Group | 1218612 |  | 9382600 |

---

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS INTERNATIONAL EQUITY FUND**

**OCTOBER 31, 2025**

**COMMON STOCK — continued**

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **UNITED KINGDOM — continued** | **UNITED KINGDOM — continued** | **UNITED KINGDOM — continued** |
| **Financials— continued** |  |  |
| &nbsp;&nbsp;&nbsp;Standard Chartered | 370508 | $7606398 |
|  |  | 71222205 |
| **Health Care — 1.1%** |  |  |
| &nbsp;&nbsp;&nbsp;Haleon | 1481172 | 6888596 |
| &nbsp;&nbsp;&nbsp;Smith & Nephew | 906392 | 16739412 |
|  |  | 23628008 |
| **Industrials — 1.5%** |  |  |
| &nbsp;&nbsp;&nbsp;Ashtead Group | 95899 | 6406306 |
| &nbsp;&nbsp;&nbsp;Howden Joinery Group | 325285 | 3694977 |
| &nbsp;&nbsp;&nbsp;RELX (EUR) | 277018 | 12217317 |
| &nbsp;&nbsp;&nbsp;Smiths Group | 67058 | 2220822 |
| &nbsp;&nbsp;&nbsp;Weir Group | 139324 | 5424226 |
| &nbsp;&nbsp;&nbsp;Wizz Air Holdings \* | 77729 | 1069388 |
|  |  | 31033036 |
| **Information Technology — 0.5%** |  |  |
| &nbsp;&nbsp;&nbsp;Halma | 79231 | 3692473 |
| &nbsp;&nbsp;&nbsp;Sage Group | 424861 | 6422683 |
|  |  | 10115156 |
| **Materials — 0.8%** |  |  |
| &nbsp;&nbsp;&nbsp;Glencore | 1055713 | 5058057 |
| &nbsp;&nbsp;&nbsp;Linde | 30383 | 12709209 |
| &nbsp;&nbsp;&nbsp;Rio Tinto | 535 | 38573 |
|  |  | 17805839 |
| **Real Estate — 0.4%** |  |  |
| &nbsp;&nbsp;&nbsp;Segro ‡ | 816337 | 7491886 |
| **Utilities — 0.6%** |  |  |
| &nbsp;&nbsp;&nbsp;National Grid | 918941 | 13780312 |
|  |  | 262057173 |
| **UNITED STATES — 2.2%** |  |  |
| **Consumer Discretionary — 1.8%** |  |  |
| &nbsp;&nbsp;&nbsp;Carnival \* | 543902 | 15680695 |
| &nbsp;&nbsp;&nbsp;Coupang, Cl A \* | 721410 | 23063478 |
|  |  | 38744173 |
| **Financials — 0.1%** |  |  |
| &nbsp;&nbsp;&nbsp;Eurobank Ergasias Services and Holdings | 645020 | 2429575 |
| **Industrials — 0.3%** |  |  |
| &nbsp;&nbsp;&nbsp;Ferguson Enterprises | 22644 | 5627034 |
| **Materials — 0.0%** |  |  |
| &nbsp;&nbsp;&nbsp;Anglogold Ashanti | 9253 | 634604 |
|  |  | 47435386 |

---

**COMMON STOCK — continued**

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **URUGUAY — 1.1%** | **URUGUAY — 1.1%** | **URUGUAY — 1.1%** |
| **Consumer Discretionary — 1.1%** | **Consumer Discretionary — 1.1%** | **Consumer Discretionary — 1.1%** |
| &nbsp;&nbsp;&nbsp;MercadoLibre \* | 10382 | $24161613 |
| Total Common Stock<br> (Cost $1,547,680,218) |  | 2088219744 |
| **SHORT-TERM INVESTMENT — 0.1%** | **SHORT-TERM INVESTMENT — 0.1%** | **SHORT-TERM INVESTMENT — 0.1%** |
| State Street Institutional U.S. Government Money Market Fund, Institutional Class, 4.290%, (C)<br> (Cost $2,675,798) | 2675798 | $2675798 |
| Total Short-Term Investment<br> (Cost $2,675,798) |  | 2675798 |
| Total Investments in Securities— 97.8%<br> (Cost $1,550,356,016) | Total Investments in Securities— 97.8%<br> (Cost $1,550,356,016) | $2090895542 |

---

Percentages are based on Net Assets of $2,136,864,029.

\* Non-income producing security.

&nbsp;&nbsp;&nbsp;&nbsp;‡ Real Estate Investment Trust.

&nbsp;&nbsp;&nbsp;&nbsp;(A) Level 3 security in accordance with
 fair value hierarchy.

&nbsp;&nbsp;&nbsp;&nbsp;(B) This security or a partial position
 of this security is on loan at October 31, 2025. The total market value of securities on loan at October 31, 2025 was $2,582,850.

&nbsp;&nbsp;&nbsp;&nbsp;(C) This security was purchased with cash
 collateral received from securities lending. The total was of such securities as of October 31, 2025, was $2,675,798.

ADR — American Depositary Receipt

CAD — Canadian Dollar

Cl — Class

EUR — Euro

GBP — British Pound

GDR — Global Depositary Receipt

PJSC — Public Joint-Stock Company

QPSC — Qatari Joint-Stock Company

USD — U.S. Dollar

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS INTERNATIONAL EQUITY FUND**

**OCTOBER 31, 2025**

The following is a summary of the inputs used as of October 31, 2025, in valuing the Fund's investments carried at market value:

---

| | | | | |
|:---|:---|:---|:---|:---|
| Investments in Securities | Level 1 | Level 2 | Level 3^ | Total |
| &nbsp;&nbsp;&nbsp;Common Stock |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Australia | $– | $3894802 | $– | $3894802 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Austria |  | 11073933 |  | 11073933 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Belgium |  | 18864454 |  | 18864454 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bermuda | 17132276 |  |  | 17132276 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brazil | 32218657 |  |  | 32218657 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Canada | 100821986 |  |  | 100821986 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cayman Islands | 561613 |  |  | 561613 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chile | 1731073 |  |  | 1731073 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;China | 31949548 | 118578191 |  | 150527739 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Denmark | 3758429 |  |  | 3758429 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;France |  | 193909057 |  | 193909057 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Germany |  | 206054572 |  | 206054572 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Greece | 1400013 | 10010934 |  | 11410947 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hong Kong |  | 30425884 |  | 30425884 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;India | 21611722 | 40689563 |  | 62301285 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indonesia |  | 6729386 |  | 6729386 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ireland | 28026045 | 28372686 |  | 56398731 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Israel | 12749283 |  |  | 12749283 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Italy |  | 41008932 |  | 41008932 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Japan |  | 196005748 |  | 196005748 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Jersey |  | 1525203 |  | 1525203 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Luxembourg | 28216769 |  |  | 28216769 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Malaysia |  | 1664058 |  | 1664058 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mexico | 5365358 |  |  | 5365358 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Netherlands | 30369183 | 129470211 |  | 159839394 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;New Zealand |  | 2518801 |  | 2518801 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Poland |  | 1757230 |  | 1757230 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Qatar |  | 907089 |  | 907089 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Russia |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Saudi Arabia |  | 1601510 |  | 1601510 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Singapore | 55031245 | 19494444 |  | 74525689 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;South Africa |  | 8817394 |  | 8817394 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;South Korea |  | 67442024 |  | 67442024 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Spain |  | 8368263 |  | 8368263 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sweden |  | 23294025 |  | 23294025 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Switzerland |  | 41359676 |  | 41359676 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Taiwan | 52468898 | 106153627 |  | 158622525 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Thailand |  | 3384661 |  | 3384661 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Türkiye |  | 3235214 |  | 3235214 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;United Arab Emirates |  | 4541902 |  | 4541902 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;United Kingdom | 12709209 | 249347964 |  | 262057173 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;United States | 44371207 | 3064179 |  | 47435386 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Uruguay | 24161613 | – | – | 24161613 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Common Stock | 504654127 | 1583565617 | – | 2088219744 |
| &nbsp;&nbsp;&nbsp;Short-Term Investment | 2675798 | – | – | 2675798 |
| Total Investments in Securities | $507329925 | $1583565617 | $– | $2090895542 |

---

---

| | |
|:---|:---|
| ^ | A reconciliation of Level 3 investments, including certain disclosures related to significant inputs used in valuing Level 3 investments is only presented when the Fund has over 1% of Level 3 investments at the end of the period in relation to net assets. |

---

# Security or securities with a market value of $0.

Amounts designated as "–" are $0 or have been round to $0.

For more information on valuation inputs, see Note 2 — Significant Accounting Policies in the Notes to Financial Statements.

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS INTERNATIONAL SMALL-CAP FUND**

**OCTOBER 31, 2025**

**SCHEDULE OF INVESTMENTS**

**COMMON STOCK — 93.7%**

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **AUSTRALIA — 4.9%** | **AUSTRALIA — 4.9%** | **AUSTRALIA — 4.9%** |
| **Communication Services — 0.1%** | **Communication Services — 0.1%** | **Communication Services — 0.1%** |
| &nbsp;&nbsp;&nbsp;Aussie Broadband | 17637 | $68653 |
| **Consumer Staples — 0.1%** | **Consumer Staples — 0.1%** | **Consumer Staples — 0.1%** |
| &nbsp;&nbsp;&nbsp;Inghams Group | 102782 | 162770 |
| **Financials — 0.5%** | **Financials — 0.5%** | **Financials — 0.5%** |
| &nbsp;&nbsp;&nbsp;Steadfast Group | 149845 | 549225 |
| **Health Care — 0.5%** | **Health Care — 0.5%** | **Health Care — 0.5%** |
| &nbsp;&nbsp;&nbsp;Ansell | 21126 | 504976 |
| &nbsp;&nbsp;&nbsp;Nanosonics \* | 34977 | 104805 |
| &nbsp;&nbsp;&nbsp;Regis Healthcare | 10116 | 49056 |
|  |  | 658837 |
| **Industrials — 0.9%** | **Industrials — 0.9%** | **Industrials — 0.9%** |
| &nbsp;&nbsp;&nbsp;Emeco Holdings \* | 123244 | 96723 |
| &nbsp;&nbsp;&nbsp;Monadelphous Group | 52775 | 802571 |
| &nbsp;&nbsp;&nbsp;Service Stream | 66735 | 99058 |
|  |  | 998352 |
| **Information Technology — 0.5%** | **Information Technology — 0.5%** | **Information Technology — 0.5%** |
| &nbsp;&nbsp;&nbsp;Bravura Solutions | 37035 | 69742 |
| &nbsp;&nbsp;&nbsp;IRESS | 15879 | 91993 |
| &nbsp;&nbsp;&nbsp;Technology One | 12623 | 304176 |
|  |  | 465911 |
| **Materials — 2.3%** | **Materials — 2.3%** | **Materials — 2.3%** |
| &nbsp;&nbsp;&nbsp;Catalyst Metals \* | 36856 | 163110 |
| &nbsp;&nbsp;&nbsp;Metals X \* | 424004 | 234065 |
| &nbsp;&nbsp;&nbsp;Orora | 134497 | 177015 |
| &nbsp;&nbsp;&nbsp;Perenti | 478775 | 848438 |
| &nbsp;&nbsp;&nbsp;Perseus Mining | 231081 | 733838 |
| &nbsp;&nbsp;&nbsp;Ramelius Resources | 157086 | 340021 |
| &nbsp;&nbsp;&nbsp;Westgold Resources | 12059 | 41817 |
|  |  | 2538304 |
|  |  | 5442052 |
| **AUSTRIA — 1.3%** | **AUSTRIA — 1.3%** | **AUSTRIA — 1.3%** |
| **Financials — 1.0%** | **Financials — 1.0%** | **Financials — 1.0%** |
| &nbsp;&nbsp;&nbsp;BAWAG Group | 5115 | 661908 |
| &nbsp;&nbsp;&nbsp;Vienna Insurance Group Wiener Versicherung Gruppe | 8063 | 414123 |
|  |  | 1076031 |
| **Industrials — 0.3%** | **Industrials — 0.3%** | **Industrials — 0.3%** |
| &nbsp;&nbsp;&nbsp;ANDRITZ | 962 | 72831 |
| &nbsp;&nbsp;&nbsp;Palfinger | 4137 | 155186 |
| &nbsp;&nbsp;&nbsp;Porr Ag | 4886 | 155278 |
|  |  | 383295 |
|  |  | 1459326 |

---

**COMMON STOCK — continued** 

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **BELGIUM — 1.2%** | **BELGIUM — 1.2%** | **BELGIUM — 1.2%** |
| **Industrials — 0.6%** | **Industrials — 0.6%** | **Industrials — 0.6%** |
| &nbsp;&nbsp;&nbsp;Ackermans & van Haaren | 621 | $154867 |
| &nbsp;&nbsp;&nbsp;Azelis Group | 21450 | 253981 |
| &nbsp;&nbsp;&nbsp;Deme Group | 1783 | 269750 |
|  |  | 678598 |
| **Information Technology — 0.2%** | **Information Technology — 0.2%** | **Information Technology — 0.2%** |
| &nbsp;&nbsp;&nbsp;Barco | 12277 | 175329 |
| **Materials — 0.4%** | **Materials — 0.4%** | **Materials — 0.4%** |
| &nbsp;&nbsp;&nbsp;Titan Cement International | 10128 | 454094 |
|  |  | 1308021 |
| **BERMUDA — 0.8%** | **BERMUDA — 0.8%** | **BERMUDA — 0.8%** |
| **Financials — 0.8%** | **Financials — 0.8%** | **Financials — 0.8%** |
| &nbsp;&nbsp;&nbsp;Lancashire Holdings | 96132 | 844255 |
| **BRAZIL — 0.6%** | **BRAZIL — 0.6%** | **BRAZIL — 0.6%** |
| **Consumer Discretionary — 0.2%** | **Consumer Discretionary — 0.2%** | **Consumer Discretionary — 0.2%** |
| &nbsp;&nbsp;&nbsp;C&A MODAS | 71900 | 216295 |
| **Industrials — 0.1%** | **Industrials — 0.1%** | **Industrials — 0.1%** |
| &nbsp;&nbsp;&nbsp;Marcopolo | 73500 | 93766 |
| **Utilities — 0.3%** | **Utilities — 0.3%** | **Utilities — 0.3%** |
| &nbsp;&nbsp;&nbsp;Companhia de Saneamento do Parana - Sanepar | 65100 | 415734 |
|  |  | 725795 |
| **CANADA — 6.8%** | **CANADA — 6.8%** | **CANADA — 6.8%** |
| **Communication Services — 0.3%** | **Communication Services — 0.3%** | **Communication Services — 0.3%** |
| &nbsp;&nbsp;&nbsp;Cogeco | 1800 | 75320 |
| &nbsp;&nbsp;&nbsp;Quebecor, Cl B | 7629 | 243601 |
|  |  | 318921 |
| **Consumer Discretionary — 0.7%** | **Consumer Discretionary — 0.7%** | **Consumer Discretionary — 0.7%** |
| &nbsp;&nbsp;&nbsp;Aritzia \* | 6732 | 470709 |
| &nbsp;&nbsp;&nbsp;Linamar | 5175 | 280513 |
|  |  | 751222 |
| **Energy — 1.9%** | **Energy — 1.9%** | **Energy — 1.9%** |
| &nbsp;&nbsp;&nbsp;North American Construction Group | 6435 | 100304 |
| &nbsp;&nbsp;&nbsp;Parex Resources | 31486 | 403139 |
| &nbsp;&nbsp;&nbsp;PrairieSky Royalty | 60600 | 1089040 |
| &nbsp;&nbsp;&nbsp;Precision Drilling \* | 1358 | 81549 |
| &nbsp;&nbsp;&nbsp;Secure Energy Services | 7467 | 93314 |
| &nbsp;&nbsp;&nbsp;Total Energy Services | 22786 | 229299 |
|  |  | 1996645 |

---

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS INTERNATIONAL SMALL-CAP FUND**

**OCTOBER 31, 2025**

**COMMON STOCK — continued**

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **CANADA — continued** | **CANADA — continued** | **CANADA — continued** |
| **Financials — 0.6%** | **Financials — 0.6%** | **Financials — 0.6%** |
| &nbsp;&nbsp;&nbsp;Definity Financial | 3420 | $159266 |
| &nbsp;&nbsp;&nbsp;Onex | 6800 | 592085 |
|  |  | 751351 |
| **Health Care — 0.4%** | **Health Care — 0.4%** | **Health Care — 0.4%** |
| &nbsp;&nbsp;&nbsp;Extendicare, Cl Trust Units | 39771 | 455856 |
| **Industrials — 0.6%** | **Industrials — 0.6%** | **Industrials — 0.6%** |
| &nbsp;&nbsp;&nbsp;Finning International | 8669 | 469288 |
| &nbsp;&nbsp;&nbsp;MDA Space \* | 10644 | 207995 |
|  |  | 677283 |
| **Information Technology — 0.1%** | **Information Technology — 0.1%** | **Information Technology — 0.1%** |
| &nbsp;&nbsp;&nbsp;Docebo \* | 3573 | 89634 |
| **Materials — 1.4%** | **Materials — 1.4%** | **Materials — 1.4%** |
| &nbsp;&nbsp;&nbsp;Fortuna Mining \* | 18606 | 153905 |
| &nbsp;&nbsp;&nbsp;Hudbay Minerals | 22007 | 353080 |
| &nbsp;&nbsp;&nbsp;IAMGOLD \* | 15389 | 178366 |
| &nbsp;&nbsp;&nbsp;OceanaGold | 11211 | 251000 |
| &nbsp;&nbsp;&nbsp;Silvercorp Metals | 9713 | 63083 |
| &nbsp;&nbsp;&nbsp;Torex Gold Resources \* | 6465 | 267339 |
| &nbsp;&nbsp;&nbsp;Transcontinental, Cl Common Subs. Receipt | 19526 | 274394 |
| &nbsp;&nbsp;&nbsp;Wesdome Gold Mines \* | 6424 | 97014 |
|  |  | 1638181 |
| **Real Estate — 0.8%** | **Real Estate — 0.8%** | **Real Estate — 0.8%** |
| &nbsp;&nbsp;&nbsp;Colliers International Group | 2103 | 335829 |
| &nbsp;&nbsp;&nbsp;Primaris REIT ‡ | 30327 | 332890 |
| &nbsp;&nbsp;&nbsp;Slate Grocery REIT, Cl Common Subs. Receipt ‡ | 18717 | 195165 |
|  |  | 863884 |
|  |  | 7542977 |
| **CAYMAN ISLANDS — 0.2%** | **CAYMAN ISLANDS — 0.2%** | **CAYMAN ISLANDS — 0.2%** |
| **Financials — 0.2%** | **Financials — 0.2%** | **Financials — 0.2%** |
| &nbsp;&nbsp;&nbsp;StoneCo, Cl A \* | 9094 | 172877 |
| **Materials — 0.0%** | **Materials — 0.0%** | **Materials — 0.0%** |
| &nbsp;&nbsp;&nbsp;Jinan Acetate Chemical | 28000 | 54794 |
|  |  | 227671 |
| **CHINA — 2.0%** | **CHINA — 2.0%** | **CHINA — 2.0%** |
| **Communication Services — 0.3%** | **Communication Services — 0.3%** | **Communication Services — 0.3%** |
| &nbsp;&nbsp;&nbsp;Meitu | 122000 | 135464 |
| &nbsp;&nbsp;&nbsp;Newborn Town \* | 182000 | 247368 |
|  |  | 382832 |
| **Consumer Discretionary — 0.6%** | **Consumer Discretionary — 0.6%** | **Consumer Discretionary — 0.6%** |
| &nbsp;&nbsp;&nbsp;Atour Lifestyle Holdings ADR | 5116 | 199319 |
| &nbsp;&nbsp;&nbsp;Chervon Holdings | 82100 | 212956 |

---

**COMMON STOCK — continued** 

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **CHINA — continued** | **CHINA — continued** | **CHINA — continued** |
| **Consumer Discretionary— continued** | **Consumer Discretionary— continued** | **Consumer Discretionary— continued** |
| &nbsp;&nbsp;&nbsp;JNBY Design | 93000 | 215672 |
|  |  | 627947 |
| **Consumer Staples — 0.0%** | **Consumer Staples — 0.0%** | **Consumer Staples — 0.0%** |
| &nbsp;&nbsp;&nbsp;Star Lake Bioscience Zhaoqing Guangdong, Cl A | 34200 | 34548 |
| **Financials — 0.3%** | **Financials — 0.3%** | **Financials — 0.3%** |
| &nbsp;&nbsp;&nbsp;FinVolution Group ADR | 44435 | 271498 |
| &nbsp;&nbsp;&nbsp;LexinFintech Holdings ADR | 13161 | 63436 |
| &nbsp;&nbsp;&nbsp;ZhongAn Online P&C Insurance, Cl H \* | 29400 | 63290 |
|  |  | 398224 |
| **Industrials — 0.1%** | **Industrials — 0.1%** | **Industrials — 0.1%** |
| &nbsp;&nbsp;&nbsp;Lonking Holdings | 235000 | 93653 |
| **Materials — 0.4%** | **Materials — 0.4%** | **Materials — 0.4%** |
| &nbsp;&nbsp;&nbsp;Fufeng Group | 412000 | 426388 |
| **Real Estate — 0.3%** | **Real Estate — 0.3%** | **Real Estate — 0.3%** |
| &nbsp;&nbsp;&nbsp;Country Garden Services Holdings | 101000 | 80292 |
| &nbsp;&nbsp;&nbsp;Greentown Service Group | 142000 | 81558 |
| &nbsp;&nbsp;&nbsp;Onewo, Cl H | 37000 | 106280 |
|  |  | 268130 |
|  |  | 2231722 |
| **COLOMBIA — 0.1%** | **COLOMBIA — 0.1%** | **COLOMBIA — 0.1%** |
| **Financials — 0.1%** | **Financials — 0.1%** | **Financials — 0.1%** |
| &nbsp;&nbsp;&nbsp;Grupo de Inversiones Suramericana | 12496 | 151677 |
| **DENMARK — 1.1%** | **DENMARK — 1.1%** | **DENMARK — 1.1%** |
| **Financials — 0.3%** | **Financials — 0.3%** | **Financials — 0.3%** |
| &nbsp;&nbsp;&nbsp;Jyske Bank | 2703 | 318165 |
| **Health Care — 0.6%** | **Health Care — 0.6%** | **Health Care — 0.6%** |
| &nbsp;&nbsp;&nbsp;ALK-Abello \* | 20715 | 684348 |
| **Industrials — 0.2%** | **Industrials — 0.2%** | **Industrials — 0.2%** |
| &nbsp;&nbsp;&nbsp;Per Aarsleff Holding | 2478 | 281795 |
|  |  | 1284308 |
| **FINLAND — 1.0%** | **FINLAND — 1.0%** | **FINLAND — 1.0%** |
| **Consumer Discretionary — 0.0%** | **Consumer Discretionary — 0.0%** | **Consumer Discretionary — 0.0%** |
| &nbsp;&nbsp;&nbsp;Puuilo | 4204 | 68928 |

---

 

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS INTERNATIONAL SMALL-CAP FUND**

**OCTOBER 31, 2025**

**COMMON STOCK — continued** 

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **FINLAND — continued** | **FINLAND — continued** | **FINLAND — continued** |
| **Industrials — 0.5%** | **Industrials — 0.5%** | **Industrials — 0.5%** |
| &nbsp;&nbsp;&nbsp;Metso | 32957 | $541189 |
| **Materials — 0.5%** | **Materials — 0.5%** | **Materials — 0.5%** |
| &nbsp;&nbsp;&nbsp;Huhtamaki | 15840 | 533049 |
|  |  | 1143166 |
| **FRANCE — 2.9%** | **FRANCE — 2.9%** | **FRANCE — 2.9%** |
| **Communication Services — 0.1%** | **Communication Services — 0.1%** | **Communication Services — 0.1%** |
| &nbsp;&nbsp;&nbsp;Pullup Entertainment | 2580 | 55803 |
| **Consumer Discretionary — 0.1%** | **Consumer Discretionary — 0.1%** | **Consumer Discretionary — 0.1%** |
| &nbsp;&nbsp;&nbsp;Valeo | 8331 | 115333 |
| **Energy — 1.0%** | **Energy — 1.0%** | **Energy — 1.0%** |
| &nbsp;&nbsp;&nbsp;Etablissements Maurel et Prom | 9151 | 51076 |
| &nbsp;&nbsp;&nbsp;Gaztransport Et Technigaz | 2225 | 441210 |
| &nbsp;&nbsp;&nbsp;Technip Energies | 15966 | 649637 |
|  |  | 1141923 |
| **Financials — 0.1%** | **Financials — 0.1%** | **Financials — 0.1%** |
| &nbsp;&nbsp;&nbsp;Pluxee | 7171 | 138713 |
| **Industrials — 0.1%** | **Industrials — 0.1%** | **Industrials — 0.1%** |
| &nbsp;&nbsp;&nbsp;Elis | 2663 | 74262 |
| **Information Technology — 1.2%** | **Information Technology — 1.2%** | **Information Technology — 1.2%** |
| &nbsp;&nbsp;&nbsp;Alten | 14497 | 1195512 |
| &nbsp;&nbsp;&nbsp;VusionGroup | 485 | 134988 |
|  |  | 1330500 |
| **Utilities — 0.3%** | **Utilities — 0.3%** | **Utilities — 0.3%** |
| &nbsp;&nbsp;&nbsp;Rubis SCA | 10379 | 377389 |
|  |  | 3233923 |
| **GERMANY — 3.3%** | **GERMANY — 3.3%** | **GERMANY — 3.3%** |
| **Communication Services — 0.6%** | **Communication Services — 0.6%** | **Communication Services — 0.6%** |
| &nbsp;&nbsp;&nbsp;CTS Eventim & KGaA | 5901 | 529390 |
| &nbsp;&nbsp;&nbsp;Springer Nature & KGaA | 5506 | 137514 |
|  |  | 666904 |
| **Consumer Discretionary — 0.2%** | **Consumer Discretionary — 0.2%** | **Consumer Discretionary — 0.2%** |
| &nbsp;&nbsp;&nbsp;HUGO BOSS | 1053 | 46779 |
| &nbsp;&nbsp;&nbsp;TUI \* | 14805 | 126321 |
|  |  | 173100 |
| **Energy — 0.1%** | **Energy — 0.1%** | **Energy — 0.1%** |
| &nbsp;&nbsp;&nbsp;Friedrich Vorwerk Group | 980 | 105656 |
| **Industrials — 0.5%** | **Industrials — 0.5%** | **Industrials — 0.5%** |
| &nbsp;&nbsp;&nbsp;Cewe Stiftung & KGAA | 419 | 48074 |
| &nbsp;&nbsp;&nbsp;KION Group | 898 | 63893 |

---

**COMMON STOCK — continued** 

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **GERMANY — continued** | **GERMANY — continued** | **GERMANY — continued** |
| **Industrials— continued** | **Industrials— continued** | **Industrials— continued** |
| &nbsp;&nbsp;&nbsp;Krones | 2404 | 349647 |
| &nbsp;&nbsp;&nbsp;MBB | 665 | 146169 |
| &nbsp;&nbsp;&nbsp;thyssenKrupp Marine Systems \* | 376 | 35445 |
|  |  | 643228 |
| **Information Technology — 1.2%** | **Information Technology — 1.2%** | **Information Technology — 1.2%** |
| &nbsp;&nbsp;&nbsp;Atoss Software | 3571 | 479571 |
| &nbsp;&nbsp;&nbsp;Bechtle | 13504 | 571578 |
| &nbsp;&nbsp;&nbsp;IONOS Group \* | 7554 | 268650 |
|  |  | 1319799 |
| **Materials — 0.1%** | **Materials — 0.1%** | **Materials — 0.1%** |
| &nbsp;&nbsp;&nbsp;thyssenkrupp | 7513 | 78837 |
| **Real Estate — 0.6%** | **Real Estate — 0.6%** | **Real Estate — 0.6%** |
| &nbsp;&nbsp;&nbsp;TAG Immobilien | 43022 | 715166 |
|  |  | 3702690 |
| **HONG KONG — 1.6%** | **HONG KONG — 1.6%** | **HONG KONG — 1.6%** |
| **Consumer Discretionary — 0.2%** | **Consumer Discretionary — 0.2%** | **Consumer Discretionary — 0.2%** |
| &nbsp;&nbsp;&nbsp;JS Global Lifestyle \* | 396000 | 90692 |
| &nbsp;&nbsp;&nbsp;TCL Electronics Holdings | 44000 | 52231 |
| &nbsp;&nbsp;&nbsp;Yue Yuen Industrial Holdings | 33500 | 61425 |
|  |  | 204348 |
| **Consumer Staples — 0.3%** | **Consumer Staples — 0.3%** | **Consumer Staples — 0.3%** |
| &nbsp;&nbsp;&nbsp;China Foods | 204000 | 108872 |
| &nbsp;&nbsp;&nbsp;First Pacific | 318000 | 256702 |
|  |  | 365574 |
| **Financials — 0.7%** | **Financials — 0.7%** | **Financials — 0.7%** |
| &nbsp;&nbsp;&nbsp;Bank of East Asia | 284000 | 488886 |
| &nbsp;&nbsp;&nbsp;Dah Sing Banking Group | 66400 | 93974 |
| &nbsp;&nbsp;&nbsp;Dah Sing Financial Holdings | 52800 | 244087 |
|  |  | 826947 |
| **Industrials — 0.3%** | **Industrials — 0.3%** | **Industrials — 0.3%** |
| &nbsp;&nbsp;&nbsp;ANE Cayman | 192500 | 284184 |
| **Real Estate — 0.1%** | **Real Estate — 0.1%** | **Real Estate — 0.1%** |
| &nbsp;&nbsp;&nbsp;China Overseas Property Holdings | 125000 | 78005 |
|  |  | 1759058 |
| **HUNGARY — 0.5%** | **HUNGARY — 0.5%** | **HUNGARY — 0.5%** |
| **Communication Services — 0.5%** | **Communication Services — 0.5%** | **Communication Services — 0.5%** |
| &nbsp;&nbsp;&nbsp;Magyar Telekom Telecommunications ADR | 104546 | 548644 |

---

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS INTERNATIONAL SMALL-CAP FUND**

**OCTOBER 31, 2025**

**COMMON STOCK — continued** 

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **INDIA — 3.6%** | **INDIA — 3.6%** | **INDIA — 3.6%** |
| **Communication Services — 0.1%** | **Communication Services — 0.1%** | **Communication Services — 0.1%** |
| &nbsp;&nbsp;&nbsp;Tips Music | 20423 | $121162 |
| **Consumer Discretionary — 0.1%** | **Consumer Discretionary — 0.1%** | **Consumer Discretionary — 0.1%** |
| &nbsp;&nbsp;&nbsp;Garware Technical Fibres | 9945 | 84979 |
| **Consumer Staples — 0.4%** | **Consumer Staples — 0.4%** | **Consumer Staples — 0.4%** |
| &nbsp;&nbsp;&nbsp;Kaveri Seed | 29929 | 350874 |
| &nbsp;&nbsp;&nbsp;LT Foods | 15919 | 75388 |
|  |  | 426262 |
| **Financials — 0.2%** | **Financials — 0.2%** | **Financials — 0.2%** |
| &nbsp;&nbsp;&nbsp;Karur Vysya Bank | 81954 | 224515 |
| &nbsp;&nbsp;&nbsp;Motilal Oswal Financial Services | 4758 | 52417 |
|  |  | 276932 |
| **Health Care — 1.1%** | **Health Care — 1.1%** | **Health Care — 1.1%** |
| &nbsp;&nbsp;&nbsp;Acutaas Chemicals | 3524 | 68506 |
| &nbsp;&nbsp;&nbsp;Ajanta Pharma | 7126 | 197895 |
| &nbsp;&nbsp;&nbsp;Artemis Medicare Services | 20414 | 56881 |
| &nbsp;&nbsp;&nbsp;Indegene | 60167 | 365396 |
| &nbsp;&nbsp;&nbsp;Sai Life Sciences \* | 40698 | 420725 |
|  |  | 1109403 |
| **Industrials — 1.0%** | **Industrials — 1.0%** | **Industrials — 1.0%** |
| &nbsp;&nbsp;&nbsp;BLS International Services | 11942 | 42279 |
| &nbsp;&nbsp;&nbsp;Force Motors | 2463 | 489629 |
| &nbsp;&nbsp;&nbsp;International Gemological | 19260 | 73245 |
| &nbsp;&nbsp;&nbsp;Nava | 68725 | 478733 |
| &nbsp;&nbsp;&nbsp;Shipping Corp of India | 20601 | 60117 |
|  |  | 1144003 |
| **Information Technology — 0.0%** | **Information Technology — 0.0%** | **Information Technology — 0.0%** |
| &nbsp;&nbsp;&nbsp;Coforge | 2515 | 50337 |
| &nbsp;&nbsp;&nbsp;E2E Networks \* | 1516 | 52735 |
| &nbsp;&nbsp;&nbsp;Websol Energy System \* | 2933 | 40144 |
|  |  | 143216 |
| **Materials — 0.5%** | **Materials — 0.5%** | **Materials — 0.5%** |
| &nbsp;&nbsp;&nbsp;Epigral | 6349 | 120762 |
| &nbsp;&nbsp;&nbsp;Godawari Power and Ispat | 86952 | 277688 |
| &nbsp;&nbsp;&nbsp;Gulf Oil Lubricants India | 4801 | 66838 |
| &nbsp;&nbsp;&nbsp;National Aluminium | 30785 | 81058 |
|  |  | 546346 |
| **Real Estate — 0.2%** | **Real Estate — 0.2%** | **Real Estate — 0.2%** |
| &nbsp;&nbsp;&nbsp;Mindspace Business Parks REIT ‡ | 15379 | 80557 |
| &nbsp;&nbsp;&nbsp;NESCO | 5912 | 91097 |
|  |  | 171654 |
|  |  | 4023957 |
| **INDONESIA — 0.4%** | **INDONESIA — 0.4%** | **INDONESIA — 0.4%** |
| **Consumer Staples — 0.1%** | **Consumer Staples — 0.1%** | **Consumer Staples — 0.1%** |
| &nbsp;&nbsp;&nbsp;Perusahaan Perkebunan London Sumatra Indonesia | 468300 | 39530 |

---

**COMMON STOCK — continued** 

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **INDONESIA — continued** | **INDONESIA — continued** | **INDONESIA — continued** |
| **Consumer Staples— continued** | **Consumer Staples— continued** | **Consumer Staples— continued** |
| &nbsp;&nbsp;&nbsp;Triputra Agro Persada | 1268000 | 143346 |
|  |  | 182876 |
| **Energy — 0.2%** | **Energy — 0.2%** | **Energy — 0.2%** |
| &nbsp;&nbsp;&nbsp;Adaro Andalan Indonesia \* | 189100 | 97211 |
| &nbsp;&nbsp;&nbsp;Elnusa | 1676000 | 51441 |
|  |  | 148652 |
| **Real Estate — 0.1%** | **Real Estate — 0.1%** | **Real Estate — 0.1%** |
| &nbsp;&nbsp;&nbsp;Pakuwon Jati | 5922600 | 130880 |
|  |  | 462408 |
| **ISRAEL — 1.0%** | **ISRAEL — 1.0%** | **ISRAEL — 1.0%** |
| **Consumer Discretionary — 0.1%** | **Consumer Discretionary — 0.1%** | **Consumer Discretionary — 0.1%** |
| &nbsp;&nbsp;&nbsp;Global-e Online, Cl E \* | 3866 | 140838 |
| **Consumer Staples — 0.2%** | **Consumer Staples — 0.2%** | **Consumer Staples — 0.2%** |
| &nbsp;&nbsp;&nbsp;Oddity Tech, Cl A \* | 6237 | 282224 |
| **Financials — 0.1%** | **Financials — 0.1%** | **Financials — 0.1%** |
| &nbsp;&nbsp;&nbsp;Harel Insurance Investments & Financial Services | 2137 | 74578 |
| **Industrials — 0.2%** | **Industrials — 0.2%** | **Industrials — 0.2%** |
| &nbsp;&nbsp;&nbsp;El Al Israel Airlines \* | 35925 | 149478 |
| &nbsp;&nbsp;&nbsp;Fiverr International \* | 2981 | 67490 |
|  |  | 216968 |
| **Information Technology — 0.4%** | **Information Technology — 0.4%** | **Information Technology — 0.4%** |
| &nbsp;&nbsp;&nbsp;Camtek \*(A) | 741 | 91751 |
| &nbsp;&nbsp;&nbsp;Innoviz Technologies \* | 46572 | 86624 |
| &nbsp;&nbsp;&nbsp;Tower Semiconductor \* | 2611 | 222379 |
|  |  | 400754 |
|  |  | 1115362 |
| **ITALY — 4.1%** | **ITALY — 4.1%** | **ITALY — 4.1%** |
| **Consumer Discretionary — 0.6%** | **Consumer Discretionary — 0.6%** | **Consumer Discretionary — 0.6%** |
| &nbsp;&nbsp;&nbsp;De' Longhi | 15144 | 553500 |
| &nbsp;&nbsp;&nbsp;OVS | 20383 | 103009 |
|  |  | 656509 |
| **Consumer Staples — 0.1%** | **Consumer Staples — 0.1%** | **Consumer Staples — 0.1%** |
| &nbsp;&nbsp;&nbsp;Orsero | 4833 | 101393 |
| **Financials — 0.5%** | **Financials — 0.5%** | **Financials — 0.5%** |
| &nbsp;&nbsp;&nbsp;Azimut Holding | 13264 | 519809 |
| **Health Care — 0.4%** | **Health Care — 0.4%** | **Health Care — 0.4%** |
| &nbsp;&nbsp;&nbsp;Amplifon | 26158 | 447635 |
| **Industrials — 1.0%** | **Industrials — 1.0%** | **Industrials — 1.0%** |
| &nbsp;&nbsp;&nbsp;Interpump Group | 16493 | 852355 |

---

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS INTERNATIONAL SMALL-CAP FUND**

**OCTOBER 31, 2025**

**COMMON STOCK — continued** 

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares** | **Value** | **Value** |
| **ITALY — continued** | **ITALY — continued** | **ITALY — continued** | **ITALY — continued** |
| **Industrials— continued** | **Industrials— continued** | **Industrials— continued** | **Industrials— continued** |
| &nbsp;&nbsp;&nbsp;TREVI - Finanziaria Industriale \* | 269811 | $| 135945 |
| &nbsp;&nbsp;&nbsp;Webuild | 50812 |  | 205623 |
|  |  |  | 1193923 |
| **Information Technology — 0.1%** | **Information Technology — 0.1%** | **Information Technology — 0.1%** | **Information Technology — 0.1%** |
| &nbsp;&nbsp;&nbsp;Reply | 558 |  | 78418 |
| **Materials — 1.4%** | **Materials — 1.4%** | **Materials — 1.4%** | **Materials — 1.4%** |
| &nbsp;&nbsp;&nbsp;Buzzi | 26358 |  | 1590027 |
|  |  |  | 4587714 |
| **JAPAN — 24.3%** | **JAPAN — 24.3%** | **JAPAN — 24.3%** | **JAPAN — 24.3%** |
| **Communication Services — 0.3%** | **Communication Services — 0.3%** | **Communication Services — 0.3%** | **Communication Services — 0.3%** |
| &nbsp;&nbsp;&nbsp;DeNA | 3900 |  | 68401 |
| &nbsp;&nbsp;&nbsp;Japan Communications \* | 45300 |  | 44026 |
| &nbsp;&nbsp;&nbsp;NexTone \* | 14900 |  | 212154 |
| &nbsp;&nbsp;&nbsp;Toei | 1500 |  | 53342 |
|  |  |  | 377923 |
| **Consumer Discretionary — 3.8%** | **Consumer Discretionary — 3.8%** | **Consumer Discretionary — 3.8%** | **Consumer Discretionary — 3.8%** |
| &nbsp;&nbsp;&nbsp;Chiyoda Co. | 7000 |  | 44443 |
| &nbsp;&nbsp;&nbsp;Foster Electric | 23700 |  | 409905 |
| &nbsp;&nbsp;&nbsp;Fujita Kanko | 6000 |  | 434527 |
| &nbsp;&nbsp;&nbsp;Greens | 4800 |  | 70192 |
| &nbsp;&nbsp;&nbsp;Intermestic | 14400 |  | 202971 |
| &nbsp;&nbsp;&nbsp;JTEKT | 16700 |  | 167127 |
| &nbsp;&nbsp;&nbsp;Mazda Motor | 17700 |  | 122012 |
| &nbsp;&nbsp;&nbsp;McDonald's Holdings Japan | 8800 |  | 344379 |
| &nbsp;&nbsp;&nbsp;Mitsubishi Motors | 68100 |  | 166014 |
| &nbsp;&nbsp;&nbsp;Open House Group | 3500 |  | 168490 |
| &nbsp;&nbsp;&nbsp;PIA \* | 1900 |  | 37041 |
| &nbsp;&nbsp;&nbsp;Seiko Group | 4600 |  | 211325 |
| &nbsp;&nbsp;&nbsp;Shimamura | 11000 |  | 709420 |
| &nbsp;&nbsp;&nbsp;Stanley Electric | 37000 |  | 727021 |
| &nbsp;&nbsp;&nbsp;Toyoda Gosei | 8300 |  | 192170 |
| &nbsp;&nbsp;&nbsp;Toyota Boshoku | 5700 |  | 86700 |
| &nbsp;&nbsp;&nbsp;Workman | 5100 |  | 191896 |
|  |  |  | 4285633 |
| **Consumer Staples — 1.7%** | **Consumer Staples — 1.7%** | **Consumer Staples — 1.7%** | **Consumer Staples — 1.7%** |
| &nbsp;&nbsp;&nbsp;Chubu Shiryo | 10600 |  | 110158 |
| &nbsp;&nbsp;&nbsp;Earth | 1600 |  | 52292 |
| &nbsp;&nbsp;&nbsp;euglena \* | 13200 |  | 36355 |
| &nbsp;&nbsp;&nbsp;Ezaki Glico | 12000 |  | 383614 |
| &nbsp;&nbsp;&nbsp;Fruta Fruta \* | 23600 |  | 38082 |
| &nbsp;&nbsp;&nbsp;H2O Retailing | 3400 |  | 46016 |
| &nbsp;&nbsp;&nbsp;Lacto Japan | 8600 |  | 192617 |
| &nbsp;&nbsp;&nbsp;Lion | 27800 |  | 274040 |
| &nbsp;&nbsp;&nbsp;Maruha Nichiro | 6800 |  | 152058 |
| &nbsp;&nbsp;&nbsp;San-A, Cl A | 30700 |  | 534207 |

---

**COMMON STOCK — continued** 

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares** | **Value** | **Value** |
| **JAPAN — continued** | **JAPAN — continued** | **JAPAN — continued** | **JAPAN — continued** |
| **Consumer Staples— continued** | **Consumer Staples— continued** | **Consumer Staples— continued** | **Consumer Staples— continued** |
| &nbsp;&nbsp;&nbsp;Showa Sangyo | 16300 | $| 311254 |
|  |  |  | 2130693 |
| **Financials — 2.5%** | **Financials — 2.5%** | **Financials — 2.5%** | **Financials — 2.5%** |
| &nbsp;&nbsp;&nbsp;77 Bank | 4000 |  | 171510 |
| &nbsp;&nbsp;&nbsp;Aichi Financial Group | 6323 |  | 163088 |
| &nbsp;&nbsp;&nbsp;Credit Saison | 6400 |  | 155963 |
| &nbsp;&nbsp;&nbsp;Hachijuni Bank | 24400 |  | 245873 |
| &nbsp;&nbsp;&nbsp;Hyakugo Bank | 23200 |  | 143930 |
| &nbsp;&nbsp;&nbsp;J Trust | 22300 |  | 58660 |
| &nbsp;&nbsp;&nbsp;Juroku Financial Group | 3300 |  | 120229 |
| &nbsp;&nbsp;&nbsp;Kyoto Financial Group | 6000 |  | 121594 |
| &nbsp;&nbsp;&nbsp;Oita Bank | 2700 |  | 89146 |
| &nbsp;&nbsp;&nbsp;Shiga Bank | 2900 |  | 117185 |
| &nbsp;&nbsp;&nbsp;Shizuoka Financial Group | 35800 |  | 482313 |
| &nbsp;&nbsp;&nbsp;Tokyo Century | 15300 |  | 180633 |
| &nbsp;&nbsp;&nbsp;Tokyo Kiraboshi Financial Group | 3100 |  | 147659 |
| &nbsp;&nbsp;&nbsp;TOMONY Holdings | 26100 |  | 115703 |
| &nbsp;&nbsp;&nbsp;Traders Holdings | 13300 |  | 77200 |
| &nbsp;&nbsp;&nbsp;Zenkoku Hosho | 19100 |  | 392702 |
|  |  |  | 2783388 |
| **Industrials — 8.3%** | **Industrials — 8.3%** | **Industrials — 8.3%** | **Industrials — 8.3%** |
| &nbsp;&nbsp;&nbsp;ALSOK | 53600 |  | 366479 |
| &nbsp;&nbsp;&nbsp;Chiyoda Corp. \* | 102500 |  | 271374 |
| &nbsp;&nbsp;&nbsp;Daihen | 900 |  | 58914 |
| &nbsp;&nbsp;&nbsp;Daiseki | 30700 |  | 645961 |
| &nbsp;&nbsp;&nbsp;Glory | 44700 |  | 1068461 |
| &nbsp;&nbsp;&nbsp;gremz | 5500 |  | 82046 |
| &nbsp;&nbsp;&nbsp;Hamakyorex | 12300 |  | 122053 |
| &nbsp;&nbsp;&nbsp;Hoshizaki | 20700 |  | 728594 |
| &nbsp;&nbsp;&nbsp;Japan Elevator Service Holdings | 24800 |  | 292053 |
| &nbsp;&nbsp;&nbsp;Kamigumi | 21100 |  | 633611 |
| &nbsp;&nbsp;&nbsp;MEITEC Group Holdings | 50000 |  | 1025294 |
| &nbsp;&nbsp;&nbsp;MISUMI Group | 35800 |  | 558358 |
| &nbsp;&nbsp;&nbsp;Namura Shipbuilding | 4600 |  | 156070 |
| &nbsp;&nbsp;&nbsp;Nankai Electric Railway | 9500 |  | 171662 |
| &nbsp;&nbsp;&nbsp;NGK Insulators | 17700 |  | 298733 |
| &nbsp;&nbsp;&nbsp;Nishi-Nippon Railroad | 27000 |  | 392365 |
| &nbsp;&nbsp;&nbsp;NTN | 99700 |  | 222665 |
| &nbsp;&nbsp;&nbsp;Sato Holdings | 19500 |  | 276873 |
| &nbsp;&nbsp;&nbsp;Sumitomo Warehouse | 19300 |  | 407218 |
| &nbsp;&nbsp;&nbsp;Taikisha | 27100 |  | 536714 |
| &nbsp;&nbsp;&nbsp;TRE Holdings | 6100 |  | 61146 |
| &nbsp;&nbsp;&nbsp;YAMABIKO | 37400 |  | 625069 |
|  |  |  | 9001713 |
| **Information Technology — 3.8%** | **Information Technology — 3.8%** | **Information Technology — 3.8%** | **Information Technology — 3.8%** |
| &nbsp;&nbsp;&nbsp;Change Holdings | 9300 |  | 68190 |
| &nbsp;&nbsp;&nbsp;Cybozu | 18200 |  | 362285 |
| &nbsp;&nbsp;&nbsp;DTS | 109600 |  | 913380 |

---

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS INTERNATIONAL SMALL-CAP FUND**

**OCTOBER 31, 2025**

**COMMON STOCK — continued** 

---

| | | | |
|:---|:---|:---|:---|
|  | **Shares** | **Value** | **Value** |
| **JAPAN — continued** | **JAPAN — continued** | **JAPAN — continued** | **JAPAN — continued** |
| **Information Technology— continued** | **Information Technology— continued** | **Information Technology— continued** | **Information Technology— continued** |
| &nbsp;&nbsp;&nbsp;Ferrotec Holdings | 9100 | $| 298412 |
| &nbsp;&nbsp;&nbsp;Horiba | 7300 |  | 678472 |
| &nbsp;&nbsp;&nbsp;ISB | 6600 |  | 76863 |
| &nbsp;&nbsp;&nbsp;Japan Material | 16900 |  | 211224 |
| &nbsp;&nbsp;&nbsp;Maruwa | 2100 |  | 593960 |
| &nbsp;&nbsp;&nbsp;Oki Electric Industry | 68600 |  | 819881 |
| &nbsp;&nbsp;&nbsp;Siix | 27300 |  | 244932 |
|  |  |  | 4267599 |
| **Materials — 1.8%** | **Materials — 1.8%** | **Materials — 1.8%** | **Materials — 1.8%** |
| &nbsp;&nbsp;&nbsp;Aica Kogyo | 12200 |  | 287403 |
| &nbsp;&nbsp;&nbsp;Artience | 4200 |  | 85631 |
| &nbsp;&nbsp;&nbsp;Fuji Seal International | 27500 |  | 483694 |
| &nbsp;&nbsp;&nbsp;Lintec | 4500 |  | 114405 |
| &nbsp;&nbsp;&nbsp;Nihon Parkerizing | 43000 |  | 373617 |
| &nbsp;&nbsp;&nbsp;Nippon Chemical Industrial | 2200 |  | 39946 |
| &nbsp;&nbsp;&nbsp;Nippon Light Metal Holdings | 20200 |  | 294263 |
| &nbsp;&nbsp;&nbsp;Nippon Paper Industries | 36200 |  | 270927 |
| &nbsp;&nbsp;&nbsp;Sakata INX | 6200 |  | 91556 |
|  |  |  | 2041442 |
| **Real Estate — 2.1%** | **Real Estate — 2.1%** | **Real Estate — 2.1%** | **Real Estate — 2.1%** |
| &nbsp;&nbsp;&nbsp;B-Lot | 9000 |  | 101909 |
| &nbsp;&nbsp;&nbsp;Global One Real Estate Investment ‡ | 570 |  | 524267 |
| &nbsp;&nbsp;&nbsp;Japan Excellent ‡ | 95 |  | 90711 |
| &nbsp;&nbsp;&nbsp;Kasumigaseki Capital | 800 |  | 43628 |
| &nbsp;&nbsp;&nbsp;KDX Realty Investment ‡ | 115 |  | 127368 |
| &nbsp;&nbsp;&nbsp;Leopalace21 | 35300 |  | 144211 |
| &nbsp;&nbsp;&nbsp;Orix JREIT ‡ | 1239 |  | 838954 |
| &nbsp;&nbsp;&nbsp;Sekisui House Reit ‡ | 845 |  | 435051 |
|  |  |  | 2306099 |
|  |  |  | 27194490 |
| **LUXEMBOURG — 0.2%** | **LUXEMBOURG — 0.2%** | **LUXEMBOURG — 0.2%** | **LUXEMBOURG — 0.2%** |
| **Energy — 0.2%** | **Energy — 0.2%** | **Energy — 0.2%** | **Energy — 0.2%** |
| &nbsp;&nbsp;&nbsp;d'Amico International Shipping | 33876 |  | 175729 |
| **MALAYSIA — 0.6%** | **MALAYSIA — 0.6%** | **MALAYSIA — 0.6%** | **MALAYSIA — 0.6%** |
| **Industrials — 0.1%** | **Industrials — 0.1%** | **Industrials — 0.1%** | **Industrials — 0.1%** |
| &nbsp;&nbsp;&nbsp;Zetrix AI Berhad | 434900 |  | 87625 |
| **Real Estate — 0.5%** | **Real Estate — 0.5%** | **Real Estate — 0.5%** | **Real Estate — 0.5%** |
| &nbsp;&nbsp;&nbsp;Eco World Development Group | 261400 |  | 128433 |
| &nbsp;&nbsp;&nbsp;Pavilion Real Estate Investment Trust ‡ | 727200 |  | 321304 |
| &nbsp;&nbsp;&nbsp;SP Setia Group | 717600 |  | 147985 |
|  |  |  | 597722 |
|  |  |  | 685347 |

---

**COMMON STOCK — continued** 

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **MEXICO — 0.2%** | **MEXICO — 0.2%** | **MEXICO — 0.2%** |
| **Financials — 0.2%** | **Financials — 0.2%** | **Financials — 0.2%** |
| &nbsp;&nbsp;&nbsp;Gentera | 101400 | $240881 |
| **NETHERLANDS — 1.4%** | **NETHERLANDS — 1.4%** | **NETHERLANDS — 1.4%** |
| **Industrials — 1.3%** | **Industrials — 1.3%** | **Industrials — 1.3%** |
| &nbsp;&nbsp;&nbsp;Aalberts | 16120 | 511389 |
| &nbsp;&nbsp;&nbsp;Arcadis | 13595 | 650127 |
| &nbsp;&nbsp;&nbsp;Koninklijke Heijmans NorthV | 2199 | 155996 |
| &nbsp;&nbsp;&nbsp;Signify | 2295 | 55010 |
|  |  | 1372522 |
| **Real Estate — 0.1%** | **Real Estate — 0.1%** | **Real Estate — 0.1%** |
| &nbsp;&nbsp;&nbsp;Wereldhave ‡ | 8094 | 172150 |
|  |  | 1544672 |
| **NORWAY — 1.8%** | **NORWAY — 1.8%** | **NORWAY — 1.8%** |
| **Energy — 0.0%** | **Energy — 0.0%** | **Energy — 0.0%** |
| &nbsp;&nbsp;&nbsp;Sea1 offshore | 27858 | 55208 |
| &nbsp;&nbsp;&nbsp;Solstad Offshore \* | 13151 | 56493 |
|  |  | 111701 |
| **Financials — 0.7%** | **Financials — 0.7%** | **Financials — 0.7%** |
| &nbsp;&nbsp;&nbsp;SpareBank 1 SMN | 40136 | 739143 |
| **Industrials — 0.4%** | **Industrials — 0.4%** | **Industrials — 0.4%** |
| &nbsp;&nbsp;&nbsp;Hoegh Autoliners | 38976 | 349671 |
| &nbsp;&nbsp;&nbsp;Wallenius Wilhelmsen, Cl B | 12259 | 95993 |
|  |  | 445664 |
| **Information Technology — 0.5%** | **Information Technology — 0.5%** | **Information Technology — 0.5%** |
| &nbsp;&nbsp;&nbsp;Atea | 34772 | 530397 |
| **Materials — 0.2%** | **Materials — 0.2%** | **Materials — 0.2%** |
| &nbsp;&nbsp;&nbsp;Elopak | 39791 | 187539 |
|  |  | 2014444 |
| **PHILIPPINES — 0.4%** | **PHILIPPINES — 0.4%** | **PHILIPPINES — 0.4%** |
| **Real Estate — 0.4%** | **Real Estate — 0.4%** | **Real Estate — 0.4%** |
| &nbsp;&nbsp;&nbsp;AREIT ‡ | 408100 | 297494 |
| &nbsp;&nbsp;&nbsp;Robinsons Land | 445700 | 112855 |
|  |  | 410349 |
|  |  | 410349 |
| **POLAND — 0.1%** | **POLAND — 0.1%** | **POLAND — 0.1%** |
| **Health Care — 0.1%** | **Health Care — 0.1%** | **Health Care — 0.1%** |
| &nbsp;&nbsp;&nbsp;Diagnostyka | 2438 | 122075 |

---

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS INTERNATIONAL SMALL-CAP FUND**

**OCTOBER 31, 2025**

**COMMON STOCK — continued** 

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **PORTUGAL — 0.4%** | **PORTUGAL — 0.4%** | **PORTUGAL — 0.4%** |
| **Consumer Staples — 0.4%** | **Consumer Staples — 0.4%** | **Consumer Staples — 0.4%** |
| &nbsp;&nbsp;&nbsp;Sonae SGPS | 261621 | $426811 |
| **SAUDI ARABIA — 0.3%** | **SAUDI ARABIA — 0.3%** | **SAUDI ARABIA — 0.3%** |
| **Industrials — 0.3%** | **Industrials — 0.3%** | **Industrials — 0.3%** |
| &nbsp;&nbsp;&nbsp;Al Babtain Power & Telecommunication | 21944 | 367298 |
| **SINGAPORE — 0.8%** | **SINGAPORE — 0.8%** | **SINGAPORE — 0.8%** |
| **Real Estate — 0.8%** | **Real Estate — 0.8%** | **Real Estate — 0.8%** |
| &nbsp;&nbsp;&nbsp;Digital Core REIT Management Pte ‡ | 321100 | 165360 |
| &nbsp;&nbsp;&nbsp;ESR-LOGOS REIT ‡ | 100230 | 220195 |
| &nbsp;&nbsp;&nbsp;UOL Group | 83900 | 512622 |
|  |  | 898177 |
|  |  | 898177 |
| **SOUTH AFRICA — 1.0%** | **SOUTH AFRICA — 1.0%** | **SOUTH AFRICA — 1.0%** |
| **Communication Services — 0.0%** | **Communication Services — 0.0%** | **Communication Services — 0.0%** |
| &nbsp;&nbsp;&nbsp;Telkom SOC | 15488 | 43335 |
| **Consumer Staples — 0.2%** | **Consumer Staples — 0.2%** | **Consumer Staples — 0.2%** |
| &nbsp;&nbsp;&nbsp;AVI | 43196 | 240497 |
| **Financials — 0.4%** | **Financials — 0.4%** | **Financials — 0.4%** |
| &nbsp;&nbsp;&nbsp;Investec | 59337 | 446850 |
| **Materials — 0.1%** | **Materials — 0.1%** | **Materials — 0.1%** |
| &nbsp;&nbsp;&nbsp;Omnia Holdings | 24594 | 108168 |
| **Real Estate — 0.3%** | **Real Estate — 0.3%** | **Real Estate — 0.3%** |
| &nbsp;&nbsp;&nbsp;Redefine Properties ‡ | 861407 | 268456 |
|  |  | 1107306 |
| **SOUTH KOREA — 2.6%** | **SOUTH KOREA — 2.6%** | **SOUTH KOREA — 2.6%** |
| **Consumer Discretionary — 0.1%** | **Consumer Discretionary — 0.1%** | **Consumer Discretionary — 0.1%** |
| &nbsp;&nbsp;&nbsp;LF | 7642 | 97909 |
| **Consumer Staples — 0.0%** | **Consumer Staples — 0.0%** | **Consumer Staples — 0.0%** |
| &nbsp;&nbsp;&nbsp;Binggrae | 1018 | 51586 |
| **Financials — 0.7%** | **Financials — 0.7%** | **Financials — 0.7%** |
| &nbsp;&nbsp;&nbsp;Hanwha General Insurance \* | 41480 | 157512 |
| &nbsp;&nbsp;&nbsp;JB Financial Group | 19803 | 311774 |
| &nbsp;&nbsp;&nbsp;KIWOOM Securities | 1380 | 286644 |
|  |  | 755930 |

---

**COMMON STOCK — continued** 

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **SOUTH KOREA — continued** | **SOUTH KOREA — continued** | **SOUTH KOREA — continued** |
| **Industrials — 1.1%** | **Industrials — 1.1%** | **Industrials — 1.1%** |
| &nbsp;&nbsp;&nbsp;HD HYUNDAI MIPO | 952 | $161261 |
| &nbsp;&nbsp;&nbsp;Korea Electric Terminal | 5069 | 219815 |
| &nbsp;&nbsp;&nbsp;Kyung Dong Navien | 3988 | 197352 |
| &nbsp;&nbsp;&nbsp;S-1, Cl 1 | 12827 | 674510 |
|  |  | 1252938 |
| **Information Technology — 0.2%** | **Information Technology — 0.2%** | **Information Technology — 0.2%** |
| &nbsp;&nbsp;&nbsp;Cafe24 \* | 2722 | 68306 |
| &nbsp;&nbsp;&nbsp;Jusung Engineering | 3829 | 82077 |
|  |  | 150383 |
| **Materials — 0.5%** | **Materials — 0.5%** | **Materials — 0.5%** |
| &nbsp;&nbsp;&nbsp;Han Kuk Carbon | 5292 | 135878 |
| &nbsp;&nbsp;&nbsp;Hansol Chemical | 836 | 135855 |
| &nbsp;&nbsp;&nbsp;KCC | 887 | 273147 |
| &nbsp;&nbsp;&nbsp;Unid | 1495 | 70442 |
|  |  | 615322 |
|  |  | 2924068 |
| **SPAIN — 1.7%** | **SPAIN — 1.7%** | **SPAIN — 1.7%** |
| **Consumer Discretionary — 0.1%** | **Consumer Discretionary — 0.1%** | **Consumer Discretionary — 0.1%** |
| &nbsp;&nbsp;&nbsp;Gestamp Automocion | 22308 | 86434 |
| **Consumer Staples — 1.0%** | **Consumer Staples — 1.0%** | **Consumer Staples — 1.0%** |
| &nbsp;&nbsp;&nbsp;Distribuidora Internacional de Alimentacion \* | 4172 | 137708 |
| &nbsp;&nbsp;&nbsp;Viscofan | 16852 | 1048728 |
|  |  | 1186436 |
| **Information Technology — 0.3%** | **Information Technology — 0.3%** | **Information Technology — 0.3%** |
| &nbsp;&nbsp;&nbsp;Indra Sistemas | 5352 | 296458 |
| **Materials — 0.3%** | **Materials — 0.3%** | **Materials — 0.3%** |
| &nbsp;&nbsp;&nbsp;Vidrala | 3777 | 360266 |
|  |  | 1929594 |
| **SWEDEN — 3.8%** | **SWEDEN — 3.8%** | **SWEDEN — 3.8%** |
| **Communication Services — 0.2%** | **Communication Services — 0.2%** | **Communication Services — 0.2%** |
| &nbsp;&nbsp;&nbsp;Hemnet Group | 12772 | 278985 |
| **Consumer Discretionary — 0.2%** | **Consumer Discretionary — 0.2%** | **Consumer Discretionary — 0.2%** |
| &nbsp;&nbsp;&nbsp;Clas Ohlson, Cl B | 6369 | 232459 |
| **Consumer Staples — 0.5%** | **Consumer Staples — 0.5%** | **Consumer Staples — 0.5%** |
| &nbsp;&nbsp;&nbsp;AAK | 20516 | 574150 |
| **Financials — 0.2%** | **Financials — 0.2%** | **Financials — 0.2%** |
| &nbsp;&nbsp;&nbsp;Hoist Finance | 16718 | 174362 |
| **Health Care — 1.4%** | **Health Care — 1.4%** | **Health Care — 1.4%** |
| &nbsp;&nbsp;&nbsp;Ambea | 22486 | 303428 |

---

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS INTERNATIONAL SMALL-CAP FUND**

**OCTOBER 31, 2025**

**COMMON STOCK — continued** 

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **SWEDEN — continued** | **SWEDEN — continued** | **SWEDEN — continued** |
| **Health Care— continued** | **Health Care— continued** | **Health Care— continued** |
| &nbsp;&nbsp;&nbsp;Asker Healthcare Group \* | 26390 | 239305 |
| &nbsp;&nbsp;&nbsp;Attendo | 60310 | 512126 |
| &nbsp;&nbsp;&nbsp;Camurus \* | 6069 | 399572 |
|  |  | 1454431 |
| **Industrials — 0.8%** | **Industrials — 0.8%** | **Industrials — 0.8%** |
| &nbsp;&nbsp;&nbsp;Beijer Ref, Cl B | 23882 | 377693 |
| &nbsp;&nbsp;&nbsp;Loomis, Cl B | 7215 | 290897 |
| &nbsp;&nbsp;&nbsp;Peab, Cl B | 32619 | 264204 |
|  |  | 932794 |
| **Materials — 0.5%** | **Materials — 0.5%** | **Materials — 0.5%** |
| &nbsp;&nbsp;&nbsp;Hexpol | 61299 | 557799 |
|  |  | 4204980 |
| **SWITZERLAND — 1.7%** | **SWITZERLAND — 1.7%** | **SWITZERLAND — 1.7%** |
| **Financials — 0.4%** | **Financials — 0.4%** | **Financials — 0.4%** |
| &nbsp;&nbsp;&nbsp;Vontobel Holding | 5027 | 382143 |
| **Industrials — 1.1%** | **Industrials — 1.1%** | **Industrials — 1.1%** |
| &nbsp;&nbsp;&nbsp;Bossard Holding | 2236 | 487103 |
| &nbsp;&nbsp;&nbsp;Bucher Industries | 721 | 320723 |
| &nbsp;&nbsp;&nbsp;Montana Aerospace \* | 12094 | 480685 |
|  |  | 1288511 |
| **Real Estate — 0.2%** | **Real Estate — 0.2%** | **Real Estate — 0.2%** |
| &nbsp;&nbsp;&nbsp;International Workplace Group | 76668 | 228199 |
|  |  | 1898853 |
| **TAIWAN — 4.4%** | **TAIWAN — 4.4%** | **TAIWAN — 4.4%** |
| **Consumer Discretionary — 0.4%** | **Consumer Discretionary — 0.4%** | **Consumer Discretionary — 0.4%** |
| &nbsp;&nbsp;&nbsp;Depo Auto Parts Industries | 96000 | 425279 |
| **Industrials — 0.4%** | **Industrials — 0.4%** | **Industrials — 0.4%** |
| &nbsp;&nbsp;&nbsp;Advanced Energy Solution Holding | 2000 | 76136 |
| &nbsp;&nbsp;&nbsp;Sincere Navigation | 92000 | 72263 |
| &nbsp;&nbsp;&nbsp;Tigerair Taiwan | 20000 | 44020 |
| &nbsp;&nbsp;&nbsp;United Integrated Services | 8000 | 222678 |
|  |  | 415097 |
| **Information Technology — 3.3%** | **Information Technology — 3.3%** | **Information Technology — 3.3%** |
| &nbsp;&nbsp;&nbsp;Airoha Technology | 9000 | 145720 |
| &nbsp;&nbsp;&nbsp;Arcadyan Technology | 36000 | 235265 |
| &nbsp;&nbsp;&nbsp;Asia Optical | 48000 | 243457 |
| &nbsp;&nbsp;&nbsp;ASPEED Technology | 1000 | 177343 |
| &nbsp;&nbsp;&nbsp;ASROCK | 29000 | 301680 |
| &nbsp;&nbsp;&nbsp;Chenbro Micom | 5000 | 149409 |
| &nbsp;&nbsp;&nbsp;Chroma ATE | 23000 | 608964 |
| &nbsp;&nbsp;&nbsp;Compeq Manufacturing | 18000 | 50872 |
| &nbsp;&nbsp;&nbsp;Genius Electronic Optical | 6000 | 81529 |
| &nbsp;&nbsp;&nbsp;Gold Circuit Electronics | 19000 | 285269 |

---

**COMMON STOCK — continued** 

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **TAIWAN — continued** | **TAIWAN — continued** | **TAIWAN — continued** |
| **Information Technology— continued** | **Information Technology— continued** | **Information Technology— continued** |
| &nbsp;&nbsp;&nbsp;Insyde Software | 6000 | 44248 |
| &nbsp;&nbsp;&nbsp;ITE Technology | 22000 | 93015 |
| &nbsp;&nbsp;&nbsp;Lotes | 6000 | 267514 |
| &nbsp;&nbsp;&nbsp;MPI | 7000 | 474634 |
| &nbsp;&nbsp;&nbsp;Pixart Imaging | 30000 | 225197 |
| &nbsp;&nbsp;&nbsp;Posiflex Technology | 10000 | 70063 |
| &nbsp;&nbsp;&nbsp;RichWave Technology | 23000 | 114976 |
| &nbsp;&nbsp;&nbsp;Winbond Electronics \* | 91000 | 159154 |
|  |  | 3728309 |
| **Materials — 0.3%** | **Materials — 0.3%** | **Materials — 0.3%** |
| &nbsp;&nbsp;&nbsp;Eternal Materials | 274000 | 362983 |
|  |  | 4931668 |
| **THAILAND — 0.4%** | **THAILAND — 0.4%** | **THAILAND — 0.4%** |
| **Energy — 0.1%** | **Energy — 0.1%** | **Energy — 0.1%** |
| &nbsp;&nbsp;&nbsp;Bangchak NVDR | 132200 | 120631 |
| **Industrials — 0.2%** | **Industrials — 0.2%** | **Industrials — 0.2%** |
| &nbsp;&nbsp;&nbsp;Regional Container Lines | 329600 | 262275 |
| **Utilities — 0.1%** | **Utilities — 0.1%** | **Utilities — 0.1%** |
| &nbsp;&nbsp;&nbsp;Rojana Industrial Park | 635600 | 88046 |
|  |  | 470952 |
| **TÜRKIYE — 0.5%** | **TÜRKIYE — 0.5%** | **TÜRKIYE — 0.5%** |
| **Financials — 0.0%** | **Financials — 0.0%** | **Financials — 0.0%** |
| &nbsp;&nbsp;&nbsp;Turkiye Sinai Kalkinma Bankasi \* | 217279 | 66489 |
| **Real Estate — 0.5%** | **Real Estate — 0.5%** | **Real Estate — 0.5%** |
| &nbsp;&nbsp;&nbsp;Reysas Gayrimenkul Yatirim Ortakligi \*‡ | 1120711 | 550124 |
|  |  | 616613 |
| **UNITED KINGDOM — 8.9%** | **UNITED KINGDOM — 8.9%** | **UNITED KINGDOM — 8.9%** |
| **Communication Services — 0.4%** | **Communication Services — 0.4%** | **Communication Services — 0.4%** |
| &nbsp;&nbsp;&nbsp;Rightmove | 45132 | 396326 |
| **Consumer Discretionary — 2.0%** | **Consumer Discretionary — 2.0%** | **Consumer Discretionary — 2.0%** |
| &nbsp;&nbsp;&nbsp;Carnival ADR \* | 17618 | 458244 |
| &nbsp;&nbsp;&nbsp;Currys | 268187 | 495080 |
| &nbsp;&nbsp;&nbsp;Domino's Pizza Group | 178871 | 457503 |
| &nbsp;&nbsp;&nbsp;Dunelm Group | 7605 | 111709 |
| &nbsp;&nbsp;&nbsp;Games Workshop Group | 3141 | 657828 |
| &nbsp;&nbsp;&nbsp;SSP Group | 45718 | 92408 |
|  |  | 2272772 |

---

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS INTERNATIONAL SMALL-CAP FUND**

**OCTOBER 31, 2025**

**COMMON STOCK — continued** 

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **UNITED KINGDOM — continued** | **UNITED KINGDOM — continued** | **UNITED KINGDOM — continued** |
| **Consumer Staples — 1.4%** | **Consumer Staples — 1.4%** | **Consumer Staples — 1.4%** |
| &nbsp;&nbsp;&nbsp;Cranswick | 1704 | $110560 |
| &nbsp;&nbsp;&nbsp;Nomad Foods | 45213 | 510907 |
| &nbsp;&nbsp;&nbsp;Premier Foods | 153165 | 367417 |
| &nbsp;&nbsp;&nbsp;Tate & Lyle | 101754 | 516649 |
|  |  | 1505533 |
| **Financials — 1.8%** | **Financials — 1.8%** | **Financials — 1.8%** |
| &nbsp;&nbsp;&nbsp;abrdn | 21213 | 56582 |
| &nbsp;&nbsp;&nbsp;AJ Bell | 38396 | 271099 |
| &nbsp;&nbsp;&nbsp;Beazley | 28668 | 350760 |
| &nbsp;&nbsp;&nbsp;Foresight Group Holdings | 60756 | 364272 |
| &nbsp;&nbsp;&nbsp;Man Group | 35625 | 98437 |
| &nbsp;&nbsp;&nbsp;OSB Group | 26249 | 186074 |
| &nbsp;&nbsp;&nbsp;Paragon Banking Group | 62418 | 680835 |
|  |  | 2008059 |
| **Health Care — 0.1%** | **Health Care — 0.1%** | **Health Care — 0.1%** |
| &nbsp;&nbsp;&nbsp;ConvaTec Group | 28398 | 91213 |
| **Industrials — 2.0%** | **Industrials — 2.0%** | **Industrials — 2.0%** |
| &nbsp;&nbsp;&nbsp;Diploma | 5521 | 407349 |
| &nbsp;&nbsp;&nbsp;Howden Joinery Group | 42494 | 482698 |
| &nbsp;&nbsp;&nbsp;IMI | 33006 | 1037797 |
| &nbsp;&nbsp;&nbsp;Johnson Service Group | 93917 | 167263 |
| &nbsp;&nbsp;&nbsp;Mitie Group | 60243 | 130319 |
| &nbsp;&nbsp;&nbsp;Stolt-Nielsen | 3975 | 133488 |
|  |  | 2358914 |
| **Materials — 0.7%** | **Materials — 0.7%** | **Materials — 0.7%** |
| &nbsp;&nbsp;&nbsp;Capital | 85522 | 134836 |
| &nbsp;&nbsp;&nbsp;Elementis | 187556 | 405463 |
| &nbsp;&nbsp;&nbsp;Endeavour Mining | 4241 | 171667 |
|  |  | 711966 |
| **Real Estate — 0.1%** | **Real Estate — 0.1%** | **Real Estate — 0.1%** |
| &nbsp;&nbsp;&nbsp;Savills | 8690 | 115170 |
| **Utilities — 0.4%** | **Utilities — 0.4%** | **Utilities — 0.4%** |
| &nbsp;&nbsp;&nbsp;Drax Group | 47560 | 450811 |
|  |  | 9910764 |
| **UNITED STATES — 0.8%** | **UNITED STATES — 0.8%** | **UNITED STATES — 0.8%** |
| **Consumer Staples — 0.3%** | **Consumer Staples — 0.3%** | **Consumer Staples — 0.3%** |
| &nbsp;&nbsp;&nbsp;Primo Brands | 15227 | 334537 |

---

**COMMON STOCK — continued** 

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **UNITED STATES — continued** | **UNITED STATES — continued** | **UNITED STATES — continued** |
| **Industrials — 0.5%** | **Industrials — 0.5%** | **Industrials — 0.5%** |
| &nbsp;&nbsp;&nbsp;Reliance Worldwide | 197549 | $535948 |
|  |  | 870485 |
| &nbsp;&nbsp;&nbsp;Total Common Stock | &nbsp;&nbsp;&nbsp;Total Common Stock | &nbsp;&nbsp;&nbsp;Total Common Stock |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $87,835,217) |  | 104740282 |
| **EXCHANGE-TRADED FUNDS — 1.5%** | **EXCHANGE-TRADED FUNDS — 1.5%** | **EXCHANGE-TRADED FUNDS — 1.5%** |
| **INTERNATIONAL — 1.5%** | **INTERNATIONAL — 1.5%** | **INTERNATIONAL — 1.5%** |
| &nbsp;&nbsp;&nbsp;iShares Core MSCI Emerging Markets ETF | 4377 | $298818 |
| &nbsp;&nbsp;&nbsp;iShares MSCI Canada ETF | 2444 | 124008 |
| &nbsp;&nbsp;&nbsp;iShares MSCI EAFE Small-Capital ETF | 16063 | 1224161 |
| &nbsp;&nbsp;&nbsp;Total Exchange-Traded Funds | &nbsp;&nbsp;&nbsp;Total Exchange-Traded Funds | &nbsp;&nbsp;&nbsp;Total Exchange-Traded Funds |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $1,420,530) |  | 1646987 |
| **PREFERRED STOCK — 0.1%** | **PREFERRED STOCK — 0.1%** | **PREFERRED STOCK — 0.1%** |
| **BRAZIL — 0.1%** | **BRAZIL — 0.1%** | **BRAZIL — 0.1%** |
| **Industrials — 0.0%** | **Industrials — 0.0%** | **Industrials — 0.0%** |
| &nbsp;&nbsp;&nbsp;Schulz (B) | 60600 | $54803 |
| **Utilities — 0.1%** | **Utilities — 0.1%** | **Utilities — 0.1%** |
| &nbsp;&nbsp;&nbsp;Companhia de Saneamento do Parana – Sanepar (B) | 54300 | 68667 |
| &nbsp;&nbsp;&nbsp;Total Preferred Stock | &nbsp;&nbsp;&nbsp;Total Preferred Stock | &nbsp;&nbsp;&nbsp;Total Preferred Stock |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $130,546) |  | 123470 |
| **RIGHTS — 0.0%** | **RIGHTS — 0.0%** | **RIGHTS — 0.0%** |
|  | **Number of<br> Rights** |  |
| &nbsp;&nbsp;&nbsp;Vidrala \* (C) | 3777 | $17874 |
| &nbsp;&nbsp;&nbsp;Total Rights | &nbsp;&nbsp;&nbsp;Total Rights | &nbsp;&nbsp;&nbsp;Total Rights |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $–) |  | 17874 |

---

 

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS INTERNATIONAL SMALL-CAP FUND**

**OCTOBER 31, 2025**

**SHORT-TERM INVESTMENT — 0.1%**

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| &nbsp;&nbsp;&nbsp;State Street Institutional U.S. Government Money Market Fund, Institutional Class, 4.290%, (D) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $81,500) | 81500 | $81500 |
| &nbsp;&nbsp;&nbsp;Total Short-Term Investment | &nbsp;&nbsp;&nbsp;Total Short-Term Investment |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $81,500) |  | 81500 |
| &nbsp;&nbsp;&nbsp;Total Investments in Securities— 95.4% | &nbsp;&nbsp;&nbsp;Total Investments in Securities— 95.4% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $89,467,793) |  | $106610113 |

---

Percentages are based on Net Assets of $111,710,509.

A list of the open futures contracts held by the Fund at October 31, 2025, is as follows:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Type of Contract | Number of <br> Contracts | Expiration<br> Date | Notional Amount | Value | Unrealized <br> Appreciation/ <br> (Depreciation) |
| Long Contracts | Long Contracts | Long Contracts | Long Contracts | Long Contracts | Long Contracts |
| &nbsp;&nbsp;&nbsp;CAD Currency | 4 | Dec-2025 | $288306 | $286060 | $(2246) |
| &nbsp;&nbsp;&nbsp;MSCI EAFE Index | 8 | Dec-2025 | 1115128 | 1122840 | 7712 |
| &nbsp;&nbsp;&nbsp;MSCI Emerging Markets | 7 | Dec-2025 | 471661 | 492660 | 20999 |
| &nbsp;&nbsp;&nbsp;Russell 2000 Index E-MINI | 1 | Dec-2025 | 125047 | 124495 | (552) |
| &nbsp;&nbsp;&nbsp;S&P TSX 60 Index | 1 | Dec-2025 | 247040 | 254305 | 7265 |
|  |  |  | $2247182 | $2280360 | $33178 |

---

\* Non-income producing security.

&nbsp;&nbsp;&nbsp;&nbsp;‡ Real Estate Investment Trust.

&nbsp;&nbsp;&nbsp;&nbsp;(A) This security or a partial position
 of this security is on loan at October 31, 2025. The total market value of securities on loan at October 31, 2025 was $79,751.

&nbsp;&nbsp;&nbsp;&nbsp;(B) There is currently no rate available.

&nbsp;&nbsp;&nbsp;&nbsp;(C) Expiration date not available.

&nbsp;&nbsp;&nbsp;&nbsp;(D) This security was purchased with cash
 collateral received from securities lending. The total was of such securities as of October 31, 2025, was $81,500.

ADR — American Depositary Receipt

Cl — Class

EAFE — Europe, Australasia, and the Far East

ETF — Exchange-Traded Fund

REIT — Real Estate Investment Trust

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS INTERNATIONAL SMALL-CAP FUND**

**OCTOBER 31, 2025**

The following is a summary of the inputs used as of October 31, 2025, in valuing the Fund's investments and other financial instruments carried at market value:

---

| | | | | |
|:---|:---|:---|:---|:---|
| Investments in Securities | Level 1 | Level 2 | Level 3 | Total |
| Common Stock | Common Stock | Common Stock | Common Stock | Common Stock |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Australia | $– | $5442052 | $– | $5442052 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Austria |  | 1459326 |  | 1459326 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Belgium |  | 1308021 |  | 1308021 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bermuda |  | 844255 |  | 844255 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brazil | 725795 |  |  | 725795 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Canada | 7542977 |  |  | 7542977 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cayman Islands | 172877 | 54794 |  | 227671 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;China | 747209 | 1484513 |  | 2231722 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Colombia | 151677 |  |  | 151677 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Denmark |  | 1284308 |  | 1284308 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Finland |  | 1143166 |  | 1143166 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;France |  | 3233923 |  | 3233923 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Germany | 35445 | 3667245 |  | 3702690 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hong Kong | 90692 | 1668366 |  | 1759058 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hungary |  | 548644 |  | 548644 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;India |  | 4023957 |  | 4023957 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indonesia | 143346 | 319062 |  | 462408 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Israel | 891306 | 224056 |  | 1115362 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Italy |  | 4587714 |  | 4587714 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Japan | 90711 | 27103779 |  | 27194490 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Luxembourg |  | 175729 |  | 175729 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Malaysia |  | 685347 |  | 685347 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mexico | 240881 |  |  | 240881 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Netherlands |  | 1544672 |  | 1544672 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Norway |  | 2014444 |  | 2014444 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Philippines | 297494 | 112855 |  | 410349 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Poland |  | 122075 |  | 122075 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Portugal |  | 426811 |  | 426811 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Saudi Arabia |  | 367298 |  | 367298 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Singapore |  | 898177 |  | 898177 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;South Africa | 240497 | 866809 |  | 1107306 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;South Korea |  | 2924068 |  | 2924068 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Spain |  | 1929594 |  | 1929594 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sweden |  | 4204980 |  | 4204980 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Switzerland |  | 1898853 |  | 1898853 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Taiwan |  | 4931668 |  | 4931668 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Thailand |  | 470952 |  | 470952 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Türkiye | 550124 | 66489 |  | 616613 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;United Kingdom | 2028508 | 7882256 |  | 9910764 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;United States | 334537 | 535948 | – | 870485 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Common Stock | 14284076 | 90456206 | – | 104740282 |
| &nbsp;&nbsp;&nbsp;Exchange-Traded Funds | 1646987 |  |  | 1646987 |
| &nbsp;&nbsp;&nbsp;Preferred Stock |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brazil | 123470 | – | – | 123470 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Preferred Stock | 123470 | – | – | 123470 |
| &nbsp;&nbsp;&nbsp;Rights | 17874 |  |  | 17874 |
| &nbsp;&nbsp;&nbsp;Short-Term Investment | 81500 | – | – | 81500 |
| Total Investments in Securities | $16153907 | $90456206 | $– | $106610113 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;Other Financial Instruments | Level 1 | Level 2 | Level 3 | Total |
| &nbsp;&nbsp;&nbsp;Futures Contracts\* |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Unrealized Appreciation | $35976 | $— | $— | $35976 |
| &nbsp;&nbsp;&nbsp;Futures Contracts\* |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Unrealized Depreciation | (2798) |  |  | (2798) |
| Total Other Financial Instruments | $33178 | $— | $— | $33178 |

---

\* Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument.

Amounts designated as "–" are $0 or have been round to $0.

For more information on valuation inputs, see Note 2 — Significant Accounting Policies in Notes to Financial Statements.

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS MAGNUS 45/55 FUND**

**OCTOBER 31, 2025**

**SCHEDULE OF INVESTMENTS**

**OPEN-END MUTUAL FUNDS — 99.6%**

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **EQUITY — 34.7%** | **EQUITY — 34.7%** | **EQUITY — 34.7%** |
| &nbsp;&nbsp;&nbsp;Catholic Responsible Investments Equity Index Fund, Cl Institutional Shares<sup>†(A)</sup> | 2207008 | $32597512 |
| &nbsp;&nbsp;&nbsp;Catholic Responsible Investments Multi-Style US Equity Fund, Cl Institutional Shares<sup>†</sup> | 779931 | 10006515 |
| &nbsp;&nbsp;&nbsp;Catholic Responsible Investments Small-Cap Fund, Cl Institutional Shares<sup>†</sup> | 612266 | 6294094 |
|  |  | 48898121 |
| **FIXED INCOME — 53.7%** | **FIXED INCOME — 53.7%** | **FIXED INCOME — 53.7%** |
| &nbsp;&nbsp;&nbsp;Catholic Responsible Investments Bond Fund, Cl Institutional Shares<sup>†(A)</sup> | 4419671 | 38009174 |
| &nbsp;&nbsp;&nbsp;Catholic Responsible Investments Opportunistic Bond Fund, Cl Institutional Shares<sup>†(A)</sup> | 2008558 | 18800104 |
| &nbsp;&nbsp;&nbsp;Catholic Responsible Investments Short Duration Bond Fund, Cl Institutional Shares<sup>†(A)</sup> | 1927082 | 18750510 |
|  |  | 75559788 |
| **INTERNATIONAL — 11.2%** | **INTERNATIONAL — 11.2%** | **INTERNATIONAL — 11.2%** |
| &nbsp;&nbsp;&nbsp;Catholic Responsible Investments International Equity Fund, Cl Institutional Shares<sup>†</sup> | 1096555 | 12610378 |
| &nbsp;&nbsp;&nbsp;Catholic Responsible Investments International Small-Cap Fund, Cl Institutional Shares<sup>†</sup> | 262508 | 3071339 |
|  |  | 15681717 |
| &nbsp;&nbsp;&nbsp;Total Open-End Mutual Funds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $112,974,308) |  | 140139626 |
| &nbsp;&nbsp;&nbsp;Total Investments in Securities— 99.6% | &nbsp;&nbsp;&nbsp;Total Investments in Securities— 99.6% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $112,974,308) |  | $140139626 |

---

Percentages are based on Net Assets of $140,749,646.

&nbsp;&nbsp;&nbsp;&nbsp;† Investment in Affiliated Security.

&nbsp;&nbsp;&nbsp;&nbsp;(A) Represents greater than 10% of the
 Fund's total investments. For further financial information, please go to the Fund's website at https://cbisonline.com/us/legal-financial/.

As of October 31, 2025, all of the Fund's investments in securities were considered Level 1, in accordance with the authoritative guidance of fair value measurements and disclosure under accounting principles generally accepted in the United States of America.

For more information on valuation inputs, see Note 2 — Significant Accounting Policies in the Notes to Financial Statements.

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS MAGNUS 45/55 FUND**

**OCTOBER 31, 2025**

The following is a summary of the Fund's transactions with affiliates for the year ended October 31, 2025:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Description** | **Value 10/31/2024** | **Purchases at Cost** | **Proceeds from Sales** | **Change in Unrealized Appreciation** | **Realized Gain (Loss)** | **Value 10/31/2025** | **Income** | **Capital Gains** |
| Catholic Responsible Investments Equity Index Fund, Cl Institutional Shares | $31416873 | $1907796 | $(6211106) | $3899232 | $1584717 | $32597512 | $357683 | $306507 |
| Catholic Responsible Investments Multi-Style US Equity Fund, Cl Institutional Shares | 9591146 | 1021916 | (1590785) | 860304 | 123934 | 10006515 | 52664 | 578006 |
| Catholic Responsible Investments Small-Cap Fund, Cl Institutional Shares | 6070886 | 687754 | (654792) | 179895 | 10351 | 6294094 | 68008 | 52329 |
| Catholic Responsible Investments Bond Fund, Cl Institutional Shares | 36293499 | 5209731 | (4001502) | 1173113 | (665667) | 38009174 | 1571612 |  |
| Catholic Responsible Investments Opportunistic Bond Fund, Cl Institutional Shares | 18100374 | 2567876 | (2000751) | 190876 | (58271) | 18800104 | 850850 |  |
| Catholic Responsible Investments Short Duration Bond Fund, Cl Institutional Shares | 17985547 | 2639087 | (2000750) | 211622 | (84996) | 18750510 | 776324 |  |
| Catholic Responsible Investments International Equity Fund, Cl Institutional Shares | 11746325 | 1382684 | (1974431) | 1315373 | 140427 | 12610378 | 224039 | 655613 |
| Catholic Responsible Investments International Small-Cap Fund, Cl Institutional Shares | 2932607 | 206203 | (576525) | 451273 | 57781 | 3071339 | 80445 |  |
| Totals: | $134137257 | $15623047 | $(19010642) | $8281688 | $1108276 | $140139626 | $3981625 | $1592455 |

---

Amounts designated as "–" are $0.

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS MAGNUS 60/40 ALPHA PLUS FUND**

**OCTOBER 31, 2025**

**SCHEDULE OF INVESTMENTS**

**OPEN-END MUTUAL FUNDS — 99.9%**

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **EQUITY — 46.0%** | **EQUITY — 46.0%** | **EQUITY — 46.0%** |
| &nbsp;&nbsp;&nbsp;Catholic Responsible Investments Equity Index Fund, Cl Institutional Shares<sup>†(A)</sup> | 16231289 | $239736140 |
| &nbsp;&nbsp;&nbsp;Catholic Responsible Investments Multi-Style US Equity Fund, Cl Institutional Shares<sup>†(A)</sup> | 29171895 | 374275413 |
| &nbsp;&nbsp;&nbsp;Catholic Responsible Investments Small-Cap Fund, Cl Institutional Shares<sup>†</sup> | 8918332 | 91680456 |
|  |  | 705692009 |
| **FIXED INCOME — 39.1%** | **FIXED INCOME — 39.1%** | **FIXED INCOME — 39.1%** |
| &nbsp;&nbsp;&nbsp;Catholic Responsible Investments Bond Fund, Cl Institutional Shares<sup>†(A)</sup> | 35062863 | 301540626 |
| &nbsp;&nbsp;&nbsp;Catholic Responsible Investments Opportunistic Bond Fund, Cl Institutional Shares<sup>†</sup> | 15931491 | 149118757 |
| &nbsp;&nbsp;&nbsp;Catholic Responsible Investments Short Duration Bond Fund, Cl Institutional Shares<sup>†</sup> | 15284425 | 148717458 |
|  |  | 599376841 |
| **INTERNATIONAL — 14.8%** | **INTERNATIONAL — 14.8%** | **INTERNATIONAL — 14.8%** |
| &nbsp;&nbsp;&nbsp;Catholic Responsible Investments International Equity Fund, Cl Institutional Shares<sup>†(A)</sup> | 15946308 | 183382543 |
| &nbsp;&nbsp;&nbsp;Catholic Responsible Investments International Small-Cap Fund, Cl Institutional Shares<sup>†</sup> | 3819974 | 44693700 |
|  |  | 228076243 |
| &nbsp;&nbsp;&nbsp;Total Open-End Mutual Funds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $1,179,462,814) |  | 1533145093 |
| &nbsp;&nbsp;&nbsp;Total Investments in Securities— 99.9% | &nbsp;&nbsp;&nbsp;Total Investments in Securities— 99.9% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $1,179,462,814) |  | $1533145093 |

---

Percentages are based on Net Assets of $1,534,089,383.

&nbsp;&nbsp;&nbsp;&nbsp;† Investment in Affiliated Security.

&nbsp;&nbsp;&nbsp;&nbsp;(A) Represents greater than 10% of the
 Fund's total investments. For further financial information, please go to the Fund's website at https://cbisonline.com/us/legal-financial/.

As of October 31, 2025, all of the Fund's investments in securities were considered Level 1, in accordance with the authoritative guidance of fair value measurements and disclosure under accounting principles generally accepted in the United States of America.

For more information on valuation inputs, see Note 2 — Significant Accounting Policies in the Notes to Financial Statements.

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS MAGNUS 60/40 ALPHA PLUS FUND**

**OCTOBER 31, 2025**

The following is a summary of the Fund's transactions with affiliates for the year ended October 31, 2025:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Description** | **Value 10/31/2024** | **Purchases at Cost** | **Proceeds from Sales** | **Change in Unrealized Appreciation** | **Realized Gain (Loss)** | **Value 10/31/2025** | **Income** | **Capital Gains** |
| Catholic Responsible Investments Equity Index Fund, Cl Institutional Shares | $220048924 | $9480902 | $(29083651) | $36687946 | $2602019 | $239736140 | $2563592 | $2174255 |
| Catholic Responsible Investments Multi-Style US Equity Fund, Cl Institutional Shares | 341815591 | 37993339 | (44155468) | 36759499 | 1862452 | 374275413 | 1936793 | 20875998 |
| Catholic Responsible Investments Small-Cap Fund, Cl Institutional Shares | 84480171 | 12891518 | (10447673) | 4375115 | 381325 | 91680456 | 1006078 | 738124 |
| Catholic Responsible Investments Bond Fund, Cl Institutional Shares | 275092781 | 47038327 | (24705282) | 8658025 | (4543225) | 301540626 | 12246180 |  |
| Catholic Responsible Investments Opportunistic Bond Fund, Cl Institutional Shares | 137183010 | 24160664 | (13248439) | 2062418 | (1038896) | 149118757 | 6617635 |  |
| Catholic Responsible Investments Short Duration Bond Fund, Cl Institutional Shares | 136316223 | 24448409 | (13038673) | 1573626 | (582127) | 148717458 | 6038523 |  |
| Catholic Responsible Investments International Equity Fund, Cl Institutional Shares | 163167332 | 20903030 | (22780963) | 21252133 | 841011 | 183382543 | 3236028 | 9241835 |
| Catholic Responsible Investments International Small-Cap Fund, Cl Institutional Shares | 40760298 | 2270537 | (5777140) | 6930948 | 509057 | 44693700 | 1151051 |  |
| Totals: | $1398864330 | $179186726 | $(163237289) | $118299710 | $31616 | $1533145093 | $34795880 | $33030212 |

---

Amounts designated as "–" are $0.

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS MAGNUS 60/40 BETA PLUS FUND**

**OCTOBER 31, 2025**

**SCHEDULE OF INVESTMENTS**

**OPEN-END MUTUAL FUNDS — 99.9%**

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **EQUITY — 46.2%** | **EQUITY — 46.2%** | **EQUITY — 46.2%** |
| &nbsp;&nbsp;&nbsp;Catholic Responsible Investments Equity Index Fund, Cl Institutional Shares<sup>†(A)</sup> | 18298740 | $270272383 |
| &nbsp;&nbsp;&nbsp;Catholic Responsible Investments Small-Cap Fund, Cl Institutional Shares<sup>†</sup> | 3873681 | 39821437 |
|  |  | 310093820 |
| **FIXED INCOME — 38.9%** | **FIXED INCOME — 38.9%** | **FIXED INCOME — 38.9%** |
| &nbsp;&nbsp;&nbsp;Catholic Responsible Investments Bond Fund, Cl Institutional Shares<sup>†(A)</sup> | 15258932 | 131226819 |
| &nbsp;&nbsp;&nbsp;Catholic Responsible Investments Opportunistic Bond Fund, Cl Institutional Shares<sup>†</sup> | 6937766 | 64937489 |
| &nbsp;&nbsp;&nbsp;Catholic Responsible Investments Short Duration Bond Fund, Cl Institutional Shares<sup>†</sup> | 6657166 | 64774228 |
|  |  | 260938536 |
| **INTERNATIONAL — 14.8%** | **INTERNATIONAL — 14.8%** | **INTERNATIONAL — 14.8%** |
| &nbsp;&nbsp;&nbsp;Catholic Responsible Investments International Equity Fund, Cl Institutional Shares<sup>†(A)</sup> | 6934062 | 79741715 |
| &nbsp;&nbsp;&nbsp;Catholic Responsible Investments International Small-Cap Fund, Cl Institutional Shares<sup>†</sup> | 1662364 | 19449663 |
|  |  | 99191378 |
| &nbsp;&nbsp;&nbsp;Total Open-End Mutual Funds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $503,798,136) |  | 670223734 |
| &nbsp;&nbsp;&nbsp;Total Investments in Securities— 99.9% | &nbsp;&nbsp;&nbsp;Total Investments in Securities— 99.9% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $503,798,136) |  | $670223734 |

---

Percentages are based on Net Assets of $670,879,520.

&nbsp;&nbsp;&nbsp;&nbsp;† Investment in Affiliated Security.

&nbsp;&nbsp;&nbsp;&nbsp;(A) Represents greater than 10% of the
 Fund's total investments. For further financial information, please go to the Fund's website at https://cbisonline.com/us/legal-financial/.

As of October 31, 2025, all of the Fund's investments in securities were considered Level 1, in accordance with the authoritative guidance of fair value measurements and disclosure under accounting principles generally accepted in the United States of America.

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS MAGNUS 60/40 BETA PLUS FUND**

**OCTOBER 31, 2025**

The following is a summary of the Fund's transactions with affiliates for the year ended October 31, 2025:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Description** | **Value 10/31/2024** | **Purchases at Cost** | **Proceeds from Sales** | **Change in Unrealized Appreciation** | **Realized Gain (Loss)** | **Value 10/31/2025** | **Income** | **Capital Gains** |
| Catholic Responsible Investments Equity Index Fund, Cl Institutional Shares | $198893753 | $63255361 | $(35507748) | $41328085 | $2302932 | $270272383 | $2546346 | $1962702 |
| Catholic Responsible Investments Small-Cap Fund, Cl Institutional Shares | 28290860 | 13029862 | (4088035) | 2508984 | 79766 | 39821437 | 362185 | 246755 |
| Catholic Responsible Investments Bond Fund, Cl Institutional Shares | 85564779 | 49903910 | (6049822) | 2814833 | (1006881) | 131226819 | 4580081 |  |
| Catholic Responsible Investments Opportunistic Bond Fund, Cl Institutional Shares | 43090098 | 24467704 | (3024910) | 499683 | (95086) | 64937489 | 2479350 |  |
| Catholic Responsible Investments Short Duration Bond Fund, Cl Institutional Shares | 42600301 | 24844719 | (3024910) | 477314 | (123196) | 64774228 | 2256476 |  |
| Catholic Responsible Investments International Equity Fund, Cl Institutional Shares | 55999278 | 22620348 | (8995924) | 9298717 | 819296 | 79741715 | 1211416 | 3166503 |
| Catholic Responsible Investments International Small-Cap Fund, Cl Institutional Shares | 14147535 | 4955380 | (2755223) | 2805548 | 296423 | 19449663 | 436433 |  |
| Totals: | $468586604 | $203077284 | $(63446572) | $59733164 | $2273254 | $670223734 | $13872287 | $5375960 |

---

Amounts designated as "–" are $0.

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS MAGNUS 75/25 FUND**

**OCTOBER 31, 2025**

**SCHEDULE OF INVESTMENTS**

**OPEN-END MUTUAL FUNDS — 99.6%**

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value** |
| **EQUITY — 57.3%** | **EQUITY — 57.3%** | **EQUITY — 57.3%** |
| &nbsp;&nbsp;&nbsp;Catholic Responsible Investments Equity Index Fund, Cl Institutional Shares<sup>†(A)</sup> | 4043208 | $59718178 |
| &nbsp;&nbsp;&nbsp;Catholic Responsible Investments Multi-Style US Equity Fund, Cl Institutional Shares<sup>†(A)</sup> | 2015343 | 25856845 |
| &nbsp;&nbsp;&nbsp;Catholic Responsible Investments Small-Cap Fund, Cl Institutional Shares<sup>†</sup> | 1223628 | 12578899 |
|  |  | 98153922 |
| **FIXED INCOME — 24.0%** | **FIXED INCOME — 24.0%** | **FIXED INCOME — 24.0%** |
| &nbsp;&nbsp;&nbsp;Catholic Responsible Investments Bond Fund, Cl Institutional Shares<sup>†(A)</sup> | 2411929 | 20742591 |
| &nbsp;&nbsp;&nbsp;Catholic Responsible Investments Opportunistic Bond Fund, Cl Institutional Shares<sup>†</sup> | 1095562 | 10254462 |
| &nbsp;&nbsp;&nbsp;Catholic Responsible Investments Short Duration Bond Fund, Cl Institutional Shares<sup>†</sup> | 1050846 | 10224729 |
|  |  | 41221782 |
| **INTERNATIONAL — 18.3%** | **INTERNATIONAL — 18.3%** | **INTERNATIONAL — 18.3%** |
| &nbsp;&nbsp;&nbsp;Catholic Responsible Investments International Equity Fund, Cl Institutional Shares<sup>†(A)</sup> | 2189609 | 25180498 |
| &nbsp;&nbsp;&nbsp;Catholic Responsible Investments International Small-Cap Fund, Cl Institutional Shares<sup>†</sup> | 523769 | 6128103 |
|  |  | 31308601 |
| &nbsp;&nbsp;&nbsp;Total Open-End Mutual Funds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $111,134,669) |  | 170684305 |
| &nbsp;&nbsp;&nbsp;Total Investments in Securities— 99.6% | &nbsp;&nbsp;&nbsp;Total Investments in Securities— 99.6% |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $111,134,669) |  | $170684305 |

---

Percentages are based on Net Assets of $171,387,024.

&nbsp;&nbsp;&nbsp;&nbsp;† Investment in Affiliated Security.

&nbsp;&nbsp;&nbsp;&nbsp;(A) Represents greater than 10% of the
 Fund's total investments. For further financial information, please go to the Fund's website at https://cbisonline.com/us/legal-financial/.

As of October 31, 2025, all of the Fund's investments in securities were considered Level 1, in accordance with the authoritative guidance of fair value measurements and disclosure under accounting principles generally accepted in the United States of America.

For more information on valuation inputs, see Note 2 — Significant Accounting Policies in the Notes to Financial Statements.

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS MAGNUS 75/25 FUND**

**OCTOBER 31, 2025**

The following is a summary of the Fund's transactions with affiliates for the year ended October 31, 2025:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Description** | **Value 10/31/2024** | **Purchases at Cost** | **Proceeds from Sales** | **Change in Unrealized Appreciation** | **Realized Gain (Loss)** | **Value 10/31/2025** | **Income** | **Capital Gains** |
| Catholic Responsible Investments Equity Index Fund, Cl Institutional Shares | $122018679 | $9035458 | $(80928044) | $(16316257) | $25908342 | $59718178 | $974605 | $1023019 |
| Catholic Responsible Investments Multi-Style US Equity Fund, Cl Institutional Shares | 51819186 | 6254253 | (33676973) | (3304813) | 4765192 | 25856845 | 207635 | 2658162 |
| Catholic Responsible Investments Small-Cap Fund, Cl Institutional Shares | 25379386 | 3955574 | (16717170) | (2016204) | 1977313 | 12578899 | 229169 | 186637 |
| Catholic Responsible Investments Bond Fund, Cl Institutional Shares | 38827657 | 8443469 | (26862493) | 3650279 | (3316321) | 20742591 | 1180218 |  |
| Catholic Responsible Investments Opportunistic Bond Fund, Cl Institutional Shares | 19375264 | 4201064 | (13431246) | 338659 | (229279) | 10254462 | 639476 |  |
| Catholic Responsible Investments Short Duration Bond Fund, Cl Institutional Shares | 19067010 | 4479269 | (13431246) | 552488 | (442792) | 10224729 | 580587 |  |
| Catholic Responsible Investments International Equity Fund, Cl Institutional Shares | 49705570 | 7066478 | (33871805) | (2270123) | 4550378 | 25180498 | 685664 | 2324700 |
| Catholic Responsible Investments International Small-Cap Fund, Cl Institutional Shares | 12563575 | 1024077 | (8655496) | 50907 | 1145040 | 6128103 | 242084 |  |
| Totals: | $338756327 | $44459642 | $(227574473) | $(19315064) | $34357873 | $170684305 | $4739438 | $6192518 |

---

Amounts designated as "–" are $0.

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS**

**OCTOBER 31, 2025**

**STATEMENTS OF ASSETS AND LIABILITIES**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Catholic Responsible Investments Ultra Short Bond Fund** | **Catholic Responsible Investments Short Duration Bond Fund** | **Catholic Responsible Investments Bond Fund** | **Catholic Responsible Investments Opportunistic Bond Fund** |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Investments, at Value (Cost $68,717,627, $536,979,528, $2,468,418,662 and $719,063,337) | $68751168 | $542613367 \* | $2442319467 \* | $722890299 \* |
| &nbsp;&nbsp;&nbsp;Repurchase Agreements, at Value (Cost $25,700,000, $4,100,000, $– and $–) | 25700000 | 4100000 |  |  |
| &nbsp;&nbsp;&nbsp;Cash and Cash Equivalents | 618531 | 1236854 | 39831317 | 13406111 |
| &nbsp;&nbsp;&nbsp;Receivable for Capital Shares Sold | 200000 | 19166 | 300157 | 13748 |
| &nbsp;&nbsp;&nbsp;Dividend and Interest Receivable | 153033 | 3946325 | 18536970 | 3844840 |
| &nbsp;&nbsp;&nbsp;Receivable for Investment Securities Sold |  |  | 2465722 |  |
| &nbsp;&nbsp;&nbsp;Cash Pledged as Collateral for Futures Contracts |  |  | 5827851 | 82191 |
| &nbsp;&nbsp;&nbsp;Prepaid Expenses | 8582 | 8582 | 17615 | 13704 |
| **Total Assets** | 95431314 | 551924294 | 2509299099 | 740250893 |
| **Liabilities:** | **Liabilities:** | **Liabilities:** | **Liabilities:** | **Liabilities:** |
| &nbsp;&nbsp;&nbsp;Audit Fees Payable | 16750 | 16750 | 19900 | 20800 |
| &nbsp;&nbsp;&nbsp;Payable Due to Adviser | 13222 | 120166 | 633038 | 208333 |
| &nbsp;&nbsp;&nbsp;Pricing Fees Payable | 9775 | 20521 | 19131 | 5477 |
| &nbsp;&nbsp;&nbsp;Mercer Non-Advisor Fee Payable | 6449 | 35175 | 160495 | 47643 |
| &nbsp;&nbsp;&nbsp;Legal Fees Payable | 6443 | 12887 | 25773 | 19330 |
| &nbsp;&nbsp;&nbsp;Transfer Agent Fees Payable | 6029 | 4705 | 9352 | 7387 |
| &nbsp;&nbsp;&nbsp;Payable Due to Administrator | 1498 | 8789 | 40621 | 12367 |
| &nbsp;&nbsp;&nbsp;Chief Compliance Officer Fees Payable | 1011 | 2023 | 4046 | 3034 |
| &nbsp;&nbsp;&nbsp;Trustees' Fees Payable | 44 | 89 | 178 | 133 |
| &nbsp;&nbsp;&nbsp;Payable for Investment Securities Purchased |  | 3484636 | 17340944 | 5060870 |
| &nbsp;&nbsp;&nbsp;Payable Upon Return of Securities Loaned |  | 1087515 | 11907264 | 3582206 |
| &nbsp;&nbsp;&nbsp;Payable for Capital Shares Redeemed |  | 35709 | 66856 | 24289 |
| &nbsp;&nbsp;&nbsp;Shareholder Servicing Fees Payable |  |  | 51337 | 54825 |
| &nbsp;&nbsp;&nbsp;Other Accrued Expenses | 20948 | 27944 | 43849 | 29382 |
| **Total Liabilities** | 82169 | 4856909 | 30322784 | 9076076 |
| **Commitments and Contingencies †** | **Commitments and Contingencies †** | **Commitments and Contingencies †** | **Commitments and Contingencies †** | **Commitments and Contingencies †** |
| **Net Assets** | $95349145 | $547067385 | $2478976315 | $731174817 |
| **Net Assets Consist of:** | **Net Assets Consist of:** | **Net Assets Consist of:** | **Net Assets Consist of:** | **Net Assets Consist of:** |
| &nbsp;&nbsp;&nbsp;Paid-in Capital | $95234429 | $562215704 | $2674850412 | $758916955 |
| &nbsp;&nbsp;&nbsp;Total Distributable Earnings (Accumulated Losses) | 114716 | (15148319) | (195874097) | (27742138) |
| **Net Assets** | $95349145 | $547067385 | $2478976315 | $731174817 |
| &nbsp;&nbsp;&nbsp;**Institutional Shares:** | &nbsp;&nbsp;&nbsp;**Institutional Shares:** | &nbsp;&nbsp;&nbsp;**Institutional Shares:** | &nbsp;&nbsp;&nbsp;**Institutional Shares:** | &nbsp;&nbsp;&nbsp;**Institutional Shares:** |
| &nbsp;&nbsp;&nbsp;Net Assets | $95349145 | $547067385 | $2359286300 | $637747082 |
| &nbsp;&nbsp;&nbsp;Outstanding Shares of Beneficial Interest (Unlimited Authorization - No Par Value) | 9517525 | 56200617 | 274452960 | 68111389 |
| &nbsp;&nbsp;&nbsp;Net Asset Value, Offering and Redemption Price Per Share | $10.02 | $9.73 | $8.60 | $9.36 |
| &nbsp;&nbsp;&nbsp;**Investor Shares:** | &nbsp;&nbsp;&nbsp;**Investor Shares:** | &nbsp;&nbsp;&nbsp;**Investor Shares:** | &nbsp;&nbsp;&nbsp;**Investor Shares:** | &nbsp;&nbsp;&nbsp;**Investor Shares:** |
| &nbsp;&nbsp;&nbsp;Net Assets | $N/A | $N/A | $119690015 | $93427735 |
| &nbsp;&nbsp;&nbsp;Outstanding Shares of Beneficial Interest (Unlimited Authorization - No Par Value) | N/A | N/A | 13926762 | 9978484 |
| &nbsp;&nbsp;&nbsp;Net Asset Value, Offering and Redemption Price Per Share | $N/A | $N/A | $8.59 | $9.36 |
| \* Includes Market Value of Securities on Loan | $– | $1064855 | $11652089 | $3510005 |

---

† See Note 5 in the Notes to Financial
 Statements

*Amounts designated as "—" are $0.*

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS**

**OCTOBER 31, 2025**

**STATEMENTS OF ASSETS AND LIABILITIES**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Catholic Responsible Investments Equity Index Fund** | **Catholic Responsible Investments Small-Cap Fund** | **Catholic Responsible Investments Multi-Style US Equity Fund** | **Catholic Responsible Investments International Equity Fund** | **Catholic Responsible Investments International Small-Cap Fund** |
| **Assets:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Investments, at Value (Cost $1,753,156,085, $424,965,980, $495,351,629, $1,550,356,016 and $89,467,793) | $4588757420 \* | $551357198 \* | $748561246 \* | $2090895542 \* | $106610113 \* |
| &nbsp;&nbsp;&nbsp;Foreign Currency, at Value (Cost $–, $–, $–, $2,267,682 and $281,758) |  |  |  | 2281486 | 292599 |
| &nbsp;&nbsp;&nbsp;Cash and Cash Equivalents | 11699764 | 5186537 | 11992443 | 25974038 | 4565112 |
| &nbsp;&nbsp;&nbsp;Dividend and Interest Receivable | 2010229 | 174411 | 97467 | 2249159 | 272406 |
| &nbsp;&nbsp;&nbsp;Cash Pledged as Collateral for Futures Contracts | 699444 | 434148 |  |  | 90493 |
| &nbsp;&nbsp;&nbsp;Receivable for Capital Shares Sold | 357672 | 64559 | 5548 | 136047 | 693 |
| &nbsp;&nbsp;&nbsp;Reclaim Receivable | 16935 |  | 43589 | 2619900 | 196743 |
| &nbsp;&nbsp;&nbsp;Receivable for Investment Securities Sold | 3091 |  | 1178891 | 27647794 | 120670 |
| &nbsp;&nbsp;&nbsp;Variation Margin Receivable | 2950 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Unrealized Appreciation on Spot Currency Contracts |  |  |  |  | 54 |
| &nbsp;&nbsp;&nbsp;Prepaid Expenses | 23461 | 9829 | 13704 | 21469 | 9487 |
| **Total Assets** | 4603570966 | 557226682 | 761892888 | 2151825435 | 112158370 |
| **Liabilities:** | **Liabilities:** | **Liabilities:** | **Liabilities:** | **Liabilities:** | **Liabilities:** |
| &nbsp;&nbsp;&nbsp;Payable for Capital Shares Redeemed | 1059991 | 26881 | 23756 | 131306 | 7307 |
| &nbsp;&nbsp;&nbsp;Payable for Investment Securities Purchased | 492368 | 7148 | 1462174 | 9385711 |  |
| &nbsp;&nbsp;&nbsp;Payable Upon Return of Securities Loaned | 391664 | 4157572 | 20625 | 2675798 | 81500 |
| &nbsp;&nbsp;&nbsp;Rating Expense Payable | 362784 | 85727 |  |  |  |
| &nbsp;&nbsp;&nbsp;Payable Due to Adviser | 152421 | 95778 | 403761 | 1353241 | 50897 |
| &nbsp;&nbsp;&nbsp;Payable Due to Administrator | 73522 | 9076 | 13391 | 35296 | 1883 |
| &nbsp;&nbsp;&nbsp;Mercer Non-Advisor Fee Payable | 70132 | 8873 | 52145 | 133048 | 7575 |
| &nbsp;&nbsp;&nbsp;Audit Fees Payable | 14600 | 18800 | 16750 | 19900 | 14600 |
| &nbsp;&nbsp;&nbsp;Pricing Fees Payable | 11084 | 2745 | 3116 | 6062 | 2349 |
| &nbsp;&nbsp;&nbsp;Transfer Agent Fees Payable | 8409 | 4549 | 7085 | 9000 | 3765 |
| &nbsp;&nbsp;&nbsp;Legal Fees Payable | 6443 | 6443 | 25773 | 19330 | 19330 |
| &nbsp;&nbsp;&nbsp;Chief Compliance Officer Fees Payable | 1012 | 1011 | 4046 | 3034 | 3034 |
| &nbsp;&nbsp;&nbsp;Trustees' Fees Payable | 45 | 44 | 178 | 133 | 133 |
| &nbsp;&nbsp;&nbsp;Shareholder Servicing Fees Payable |  |  | 6363 | 78034 |  |
| &nbsp;&nbsp;&nbsp;Unrealized Depreciation on Spot Currency Contracts |  |  |  | 3092 |  |
| &nbsp;&nbsp;&nbsp;Accrued Foreign Capital Gains Tax on Appreciated Securities |  |  |  | 991930 | 159974 |
| &nbsp;&nbsp;&nbsp;Payable for Variation Margin. |  |  |  |  | 2313 |
| &nbsp;&nbsp;&nbsp;Other Accrued Expenses | 28762 | 18467 | 34173 | 116491 | 93201 |
| **Total Liabilities** | 2673237 | 4443114 | 2073336 | 14961406 | 447861 |
| **Commitments and Contingencies †** | **Commitments and Contingencies †** | **Commitments and Contingencies †** | **Commitments and Contingencies †** | **Commitments and Contingencies †** | **Commitments and Contingencies †** |
| **Net Assets** | $4600897729 | $552783568 | $759819552 | $2136864029 | $111710509 |
| **Net Assets Consist of:** | **Net Assets Consist of:** | **Net Assets Consist of:** | **Net Assets Consist of:** | **Net Assets Consist of:** | **Net Assets Consist of:** |
| &nbsp;&nbsp;&nbsp;Paid-in Capital | $1706362123 | $418345917 | $471661060 | $1551493329 | $87226398 |
| &nbsp;&nbsp;&nbsp;Total Distributable Earnings | 2894535606 | 134437651 | 288158492 | 585370700 | 24484111 |
| **Net Assets** | $4600897729 | $552783568 | $759819552 | $2136864029 | $111710509 |

---

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS**

**OCTOBER 31, 2025**

**STATEMENTS OF ASSETS AND LIABILITIES**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Catholic Responsible Investments Equity Index Fund** | **Catholic Responsible Investments Small-Cap Fund** | **Catholic Responsible Investments Multi-Style US Equity Fund** | **Catholic Responsible Investments International Equity Fund** | **Catholic Responsible Investments International Small-Cap Fund** |
| **Institutional Shares:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net Assets | $4600897729 | $552783568 | $714148033 | $1972286382 | $111710509 |
| &nbsp;&nbsp;&nbsp;Outstanding Shares of Beneficial Interest (Unlimited Authorization - No Par Value) | 311416181 | 53747713 | 55652993 | 171544272 | 9551207 |
| &nbsp;&nbsp;&nbsp;Net Asset Value, Offering and Redemption Price Per Share | $14.77 | $10.28 | $12.83 | $11.50 | $11.70 |
| **Investor Shares:** | **Investor Shares:** | **Investor Shares:** | **Investor Shares:** | **Investor Shares:** | **Investor Shares:** |
| &nbsp;&nbsp;&nbsp;Net Assets | $N/A | $N/A | $45671519 | $164577647 | $N/A |
| &nbsp;&nbsp;&nbsp;Outstanding Shares of Beneficial Interest (Unlimited Authorization - No Par Value) | N/A | N/A | 3559064 | 14308323 | N/A |
| &nbsp;&nbsp;&nbsp;Net Asset Value, Offering and Redemption Price Per Share | $N/A | $N/A | $12.83 | $11.50 | $N/A |
| &nbsp;&nbsp;&nbsp;\* Includes Market Value of Securities on Loan | $378445 | $4037691 | $20136 | $2582850 | $79751 |

---

† See Note 5 in the Notes to Financial
 Statements

*Amounts designated as "—" are $0.*

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS**

**OCTOBER 31, 2025**

**STATEMENTS OF ASSETS AND LIABILITIES**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Catholic Responsible Investments Magnus 45/55 Fund** | **Catholic Responsible Investments Magnus 60/40 Alpha Plus Fund** | **Catholic Responsible Investments Magnus 60/40 Beta Plus Fund** | **Catholic Responsible Investments Magnus 75/25 Fund** |
| **Assets:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Affiliated Investments, at Value (Cost $112,974,308, $1,179,462,814, $503,798,136 and $111,134,669) | $140139626 | $1533145093 | $670223734 | $170684305 |
| &nbsp;&nbsp;&nbsp;Cash and Cash Equivalents | 600919 | 1060763 | 703031 | 697057 |
| &nbsp;&nbsp;&nbsp;Receivable for Investment Securities Sold | 42457 | 59402 | 97913 | 43520 |
| &nbsp;&nbsp;&nbsp;Due from Adviser | 10886 |  |  | 10898 |
| &nbsp;&nbsp;&nbsp;Receivable for Capital Shares Sold |  | 23115 | 231126 |  |
| &nbsp;&nbsp;&nbsp;Prepaid Expenses | 13704 | 16233 | 13704 | 13787 |
| **Total Assets** | 140807592 | 1534304606 | 671269508 | 171449567 |
| **Liabilities:** | **Liabilities:** | **Liabilities:** | **Liabilities:** | **Liabilities:** |
| &nbsp;&nbsp;&nbsp;Audit Fees Payable | 14600 | 14600 | 14600 | 14600 |
| &nbsp;&nbsp;&nbsp;Mercer Non-Advisor Fee Payable | 8915 | 96911 | 38622 | 13799 |
| &nbsp;&nbsp;&nbsp;Transfer Agent Fees Payable | 6444 | 7704 | 6868 | 6493 |
| &nbsp;&nbsp;&nbsp;Legal Fees Payable | 6443 | 6443 | 6443 | 6443 |
| &nbsp;&nbsp;&nbsp;Shareholder Servicing Fees Payable | 5732 | 58993 | 22269 | 7030 |
| &nbsp;&nbsp;&nbsp;Chief Compliance Officer Fees Payable | 1012 | 1012 | 1011 | 1011 |
| &nbsp;&nbsp;&nbsp;Pricing Fees Payable | 75 | 75 | 75 | 75 |
| &nbsp;&nbsp;&nbsp;Trustees' Fees Payable | 45 | 45 | 45 | 45 |
| &nbsp;&nbsp;&nbsp;Interest payable | 19 | 35 | 22 | 22 |
| &nbsp;&nbsp;&nbsp;Payable for Investment Securities Purchased |  | 23115 |  |  |
| &nbsp;&nbsp;&nbsp;Payable for Capital Shares Redeemed |  |  | 281126 |  |
| &nbsp;&nbsp;&nbsp;Other Accrued Expenses | 14661 | 6290 | 18907 | 13025 |
| **Total Liabilities** | 57946 | 215223 | 389988 | 62543 |
| **Commitments and Contingencies †** | **Commitments and Contingencies †** | **Commitments and Contingencies †** | **Commitments and Contingencies †** | **Commitments and Contingencies †** |
| **Net Assets** | $140749646 | $1534089383 | $670879520 | $171387024 |
| **Net Assets Consist of:** | **Net Assets Consist of:** | **Net Assets Consist of:** | **Net Assets Consist of:** | **Net Assets Consist of:** |
| &nbsp;&nbsp;&nbsp;Paid-in Capital | $109326259 | $1130796814 | $490961098 | $69739437 |
| &nbsp;&nbsp;&nbsp;Total Distributable Earnings | 31423387 | 403292569 | 179918422 | 101647587 |
| **Net Assets** | $140749646 | $1534089383 | $670879520 | $171387024 |
| &nbsp;&nbsp;&nbsp;**Institutional Shares:** | &nbsp;&nbsp;&nbsp;**Institutional Shares:** | &nbsp;&nbsp;&nbsp;**Institutional Shares:** | &nbsp;&nbsp;&nbsp;**Institutional Shares:** | &nbsp;&nbsp;&nbsp;**Institutional Shares:** |
| &nbsp;&nbsp;&nbsp;Net Assets | $104040914 | $1119227620 | $493698270 | $124127188 |
| &nbsp;&nbsp;&nbsp;Outstanding Shares of Beneficial Interest (Unlimited Authorization - No Par Value) | 9251375 | 96368978 | 41499314 | 10129346 |
| &nbsp;&nbsp;&nbsp;Net Asset Value, Offering and Redemption Price Per Share | $11.25 | $11.61 | $11.90 | $12.25 |
| &nbsp;&nbsp;&nbsp;**Investor Shares:** | &nbsp;&nbsp;&nbsp;**Investor Shares:** | &nbsp;&nbsp;&nbsp;**Investor Shares:** | &nbsp;&nbsp;&nbsp;**Investor Shares:** | &nbsp;&nbsp;&nbsp;**Investor Shares:** |
| &nbsp;&nbsp;&nbsp;Net Assets | $36708732 | $414861763 | $177181250 | $47259836 |
| &nbsp;&nbsp;&nbsp;Outstanding Shares of Beneficial Interest (Unlimited Authorization - No Par Value) | 3267469 | 35762117 | 14903094 | 3862772 |
| &nbsp;&nbsp;&nbsp;Net Asset Value, Offering and Redemption Price Per Share | $11.23 | $11.60 | $11.89 | $12.23 |

---

† See Note 5 in the Notes to Financial Statements

*Amounts designated as "—" are $0*

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS**

**FOR THE YEAR ENDED**

**OCTOBER 31, 2025**

**STATEMENTS OF OPERATIONS**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Catholic Responsible Investments Ultra Short Bond Fund** | **Catholic Responsible Investments Short Duration Bond Fund** | **Catholic Responsible Investments Bond Fund** | **Catholic Responsible Investments Opportunistic Bond Fund** |
| **Investment Income:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Interest Income | 4130637 | 24613162 | 114409678 | 37100428 |
| &nbsp;&nbsp;&nbsp;Income from Securities Lending, Net | 438 | 4109 | 14192 | 8130 |
| **Total Investment Income** | 4131075 | 24617271 | 114423870 | 37108558 |
| **Expenses:** | **Expenses:** | **Expenses:** | **Expenses:** | **Expenses:** |
| &nbsp;&nbsp;&nbsp;Investment Advisory Fees | 222798 | 1546777 | 7074372 | 2475102 |
| &nbsp;&nbsp;&nbsp;Administration Fees | 17008 | 98364 | 457398 | 142426 |
| &nbsp;&nbsp;&nbsp;Trustees' Fees | 12382 | 24764 | 49527 | 37146 |
| &nbsp;&nbsp;&nbsp;Chief Compliance Officer Fees | 3157 | 6315 | 12630 | 9472 |
| &nbsp;&nbsp;&nbsp;Shareholder Servicing Fees (Investor Shares) |  |  | 146925 | 112865 |
| &nbsp;&nbsp;&nbsp;Pricing Fees | 39359 | 76939 | 168110 | 69737 |
| &nbsp;&nbsp;&nbsp;Transfer Agent Fees | 30455 | 28304 | 53627 | 43290 |
| &nbsp;&nbsp;&nbsp;Registration Fees | 23745 | 26564 | 49994 | 39123 |
| &nbsp;&nbsp;&nbsp;Legal Fees | 19159 | 38318 | 76636 | 57477 |
| &nbsp;&nbsp;&nbsp;Audit Fees. | 16750 | 16750 | 19900 | 20800 |
| &nbsp;&nbsp;&nbsp;Custodian Fees | 10339 | 5401 | 42410 | 13494 |
| &nbsp;&nbsp;&nbsp;Mercer Non-Advisor Fee | 6449 | 35175 | 160495 | 47643 |
| &nbsp;&nbsp;&nbsp;Printing Fees | 1470 | 7707 | 35961 | 10652 |
| &nbsp;&nbsp;&nbsp;Other Expenses | 14701 | 25733 | 65645 | 33400 |
| **Total Expenses** | 417772 | 1937111 | 8413630 | 3112627 |
| **Less:** | **Less:** | **Less:** | **Less:** | **Less:** |
| &nbsp;&nbsp;&nbsp;Waiver of Investment Advisory Fees | (105757) | (131804) | – | (99180) |
| **Net Expenses** | 312015 | 1805307 | 8413630 | 3013447 |
| **Net Investment Income** | 3819060 | 22811964 | 106010240 | 34095111 |
| **Net Realized Gain (Loss) on:** | **Net Realized Gain (Loss) on:** | **Net Realized Gain (Loss) on:** | **Net Realized Gain (Loss) on:** | **Net Realized Gain (Loss) on:** |
| Investments | 8557 | 193520 | (12990010) | 2695215 |
| Futures Contracts |  | (670092) | (978358) | (1868479) |
| Foreign Currency Transactions | – | 4 | – | – |
| **Net Realized Gain (Loss)** | 8557 | (476568) | (13968368) | 826736 |
| **Net Change in Unrealized Appreciation (Depreciation) on:** | **Net Change in Unrealized Appreciation (Depreciation) on:** | **Net Change in Unrealized Appreciation (Depreciation) on:** | **Net Change in Unrealized Appreciation (Depreciation) on:** | **Net Change in Unrealized Appreciation (Depreciation) on:** |
| Investments | (51068) | 3926654 | 40073282 | 3315338 |
| Futures Contracts | – | 521734 | 4737653 | 1050372 |
| **Net Change in Unrealized Appreciation (Depreciation)** | (51068) | 4448388 | 44810935 | 4365710 |
| **Net Realized and Unrealized Gain (Loss).** | (42511) | 3971820 | 30842567 | 5192446 |
| **Net Increase in Net Assets Resulting from Operations** | $3776549 | $26783784 | $136852807 | $39287557 |

---

*Amounts designated as "—" are $0.*

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS**

**FOR THE YEAR ENDED**

**OCTOBER 31, 2025**

**STATEMENTS OF OPERATIONS**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Catholic Responsible Investments Equity Index Fund** | **Catholic Responsible Investments Small-Cap Fund** | **Catholic Responsible Investments Multi-Style US Equity Fund** | **Catholic Responsible Investments International Equity Fund** | **Catholic Responsible Investments International Small-Cap Fund** |
| **Investment Income:** | | | | | |
| &nbsp;&nbsp;&nbsp;Dividend Income | $49368803 | $6689619 | $8541146 | $39873873 | $3588529 |
| &nbsp;&nbsp;&nbsp;Interest Income | 342296 | 172898 | 441366 | 1792053 | 252427 |
| &nbsp;&nbsp;&nbsp;Income from Securities Lending, Net | 1023 | 31880 | 5220 | 22196 | 10947 |
| &nbsp;&nbsp;&nbsp;Less: Foreign Taxes Withheld | (75582) | (9828) | (154272) | (3844799) | (413448) |
| **Total Investment Income** | 49636540 | 6884569 | 8833460 | 37843323 | 3438455 |
| **Expenses:** | **Expenses:** | **Expenses:** | **Expenses:** | **Expenses:** | **Expenses:** |
| &nbsp;&nbsp;&nbsp;Investment Advisory Fees | 2494096 | 1091551 | 4841902 | 13655847 | 1060892 |
| &nbsp;&nbsp;&nbsp;Administration Fees | 792994 | 104136 | 161502 | 359439 | 21085 |
| &nbsp;&nbsp;&nbsp;Trustees' Fees | 12382 | 12382 | 49527 | 37146 | 37146 |
| &nbsp;&nbsp;&nbsp;Chief Compliance Officer Fees | 3157 | 3157 | 12630 | 9472 | 9472 |
| &nbsp;&nbsp;&nbsp;Shareholder Servicing Fees (Investor Shares) |  |  | 66179 | 192235 |  |
| &nbsp;&nbsp;&nbsp;Rating Fees | 649076 | 165821 |  |  |  |
| &nbsp;&nbsp;&nbsp;Custodian Fees | 73880 | 31581 | 46187 | 303769 | 84169 |
| &nbsp;&nbsp;&nbsp;Mercer Non-Advisor Fee | 70132 | 8873 | 52145 | 133048 | 7575 |
| &nbsp;&nbsp;&nbsp;Printing Fees | 63166 | 8104 | 12085 | 32463 | 6669 |
| &nbsp;&nbsp;&nbsp;Pricing Fees | 54027 | 12226 | 14958 | 25682 | 9330 |
| &nbsp;&nbsp;&nbsp;Transfer Agent Fees | 47377 | 26381 | 41457 | 50939 | 22259 |
| &nbsp;&nbsp;&nbsp;Registration Fees | 37393 | 23973 | 37685 | 65884 | 28503 |
| &nbsp;&nbsp;&nbsp;Legal Fees | 19159 | 19159 | 76636 | 57477 | 57477 |
| &nbsp;&nbsp;&nbsp;Audit Fees | 14600 | 18800 | 16750 | 19900 | 14600 |
| &nbsp;&nbsp;&nbsp;Other Expenses | 84549 | 20846 | 45109 | 68316 | 81086 |
| **Total Expenses** | 4415988 | 1546990 | 5474752 | 15011617 | 1440263 |
| **Less:** | **Less:** | **Less:** | **Less:** | **Less:** | **Less:** |
| &nbsp;&nbsp;&nbsp;Waiver of Investment Advisory Fees | (673060) | – | – | – | (168823) |
| **Net Expenses** | 3742928 | 1546990 | 5474752 | 15011617 | 1271440 |
| **Net Investment Income** | 45893612 | 5337579 | 3358708 | 22831706 | 2167015 |
| **Net Realized Gain (Loss) on:** | **Net Realized Gain (Loss) on:** | **Net Realized Gain (Loss) on:** | **Net Realized Gain (Loss) on:** | **Net Realized Gain (Loss) on:** | **Net Realized Gain (Loss) on:** |
| Investments | 90101278 | 18261668 | 37199509 | 72403418 | 10235008 |
| Futures Contracts | 1462928 | 527098 |  |  | 396191 |
| Accrued Foreign Capital Gains Tax |  |  |  | (958059) | (110674) |
| Foreign Currency Transactions | – | – | – | 613109 | 44411 |
| **Net Realized Gain (Loss)** | 91564206 | 18788766 | 37199509 | 72058468 | 10564936 |
| **Net Change in Unrealized Appreciation (Depreciation) on:** |  |  |  |  |  |
| Investments | 699044614 | 8579474 | 93360874 | 277779435 | 8974134 |
| Futures Contracts | 127450 | 114160 |  |  | 165326 |
| Accrued Foreign Capital Gains Tax on Appreciated Securities |  |  |  | 755963 | 81 |
| Translation of Other Assets and Liabilities Denominated in Foreign Currencies | – | – | – | 16090 | 8858 |
| **Net Change in Unrealized Appreciation (Depreciation)** | 699172064 | 8693634 | 93360874 | 278551488 | 9148399 |
| **Net Realized and Unrealized Gain** | 790736270 | 27482400 | 130560383 | 350609956 | 19713335 |
| **Net Increase in Net Assets Resulting from Operations** | $836629882 | $32819979 | $133919091 | $373441662 | $21880350 |

---

*Amounts designated as "—" are $0.*

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS**

**FOR THE YEAR ENDED**

**OCTOBER 31, 2025**

**STATEMENTS OF OPERATIONS**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Catholic Responsible Investments Magnus 45/55 Fund** | **Catholic Responsible Investments Magnus 60/40 Alpha Plus Fund** | **Catholic Responsible Investments Magnus 60/40 Beta Plus Fund** | **Catholic Responsible Investments Magnus 75/25 Fund** |
| **Investment Income:** | | | | |
| &nbsp;&nbsp;&nbsp;Affiliated Dividend Income | $3981625 | $34795880 | $13872287 | $4739438 |
| &nbsp;&nbsp;&nbsp;Interest Income | 20722 | 39833 | 25152 | 24463 |
| **Total Investment Income** | 4002347 | 34835713 | 13897439 | 4763901 |
| **Expenses:** | **Expenses:** | **Expenses:** | **Expenses:** | **Expenses:** |
| &nbsp;&nbsp;&nbsp;Shareholder Servicing Fees (Investor Shares) | 48889 | 589851 | 179945 | 65028 |
| &nbsp;&nbsp;&nbsp;Trustees' Fees | 12382 | 12382 | 12382 | 12382 |
| &nbsp;&nbsp;&nbsp;Chief Compliance Officer Fees | 3157 | 3158 | 3157 | 3157 |
| &nbsp;&nbsp;&nbsp;Transfer Agent Fees | 37882 | 44471 | 39638 | 38481 |
| &nbsp;&nbsp;&nbsp;Registration Fees | 35886 | 57974 | 44108 | 38817 |
| &nbsp;&nbsp;&nbsp;Legal Fees | 19159 | 19159 | 19159 | 19159 |
| &nbsp;&nbsp;&nbsp;Audit Fees | 14600 | 14600 | 14600 | 14600 |
| &nbsp;&nbsp;&nbsp;Mercer Non-Advisor Fee | 8915 | 96911 | 38622 | 13799 |
| &nbsp;&nbsp;&nbsp;Printing Fees | 1988 | 21318 | 7892 | 3859 |
| &nbsp;&nbsp;&nbsp;Custodian Fees | 18 | 160 | 18 | 166 |
| &nbsp;&nbsp;&nbsp;Other Expenses | 15000 | 34252 | 19284 | 17168 |
| **Total Expenses** | 197876 | 894236 | 378805 | 226616 |
| **Less:** | **Less:** | **Less:** | **Less:** | **Less:** |
| &nbsp;&nbsp;&nbsp;Waiver of Expenses | (122248) | (66462) | (100122) | (120197) |
| **Net Expenses** | 75628 | 827774 | 278683 | 106419 |
| **Net Investment Income** | 3926719 | 34007939 | 13618756 | 4657482 |
| **Net Realized Gain on:** | **Net Realized Gain on:** | **Net Realized Gain on:** | **Net Realized Gain on:** | **Net Realized Gain on:** |
| Affiliated Investments | 1108276 | 31616 | 2273254 | 34357873 |
| Capital Gain Distributions Received from Affiliated Funds | 1592455 | 33030212 | 5375960 | 6192518 |
| **Net Realized Gain** | 2700731 | 33061828 | 7649214 | 40550391 |
| **Net Change in Unrealized Appreciation <br> (Depreciation) on:** | **Net Change in Unrealized Appreciation <br> (Depreciation) on:** | **Net Change in Unrealized Appreciation <br> (Depreciation) on:** | **Net Change in Unrealized Appreciation <br> (Depreciation) on:** | **Net Change in Unrealized Appreciation <br> (Depreciation) on:** |
| Affiliated Investments | 8281688 | 118299710 | 59733164 | (19315064) |
| **Net Change in Unrealized Appreciation <br> (Depreciation)** | 8281688 | 118299710 | 59733164 | (19315064) |
| **Net Realized and Unrealized Gain** | 10982419 | 151361538 | 67382378 | 21235327 |
| **Net Increase in Net Assets Resulting from Operations** | $14909138 | $185369477 | $81001134 | $25892809 |

---

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS**

**OCTOBER 31, 2025**

**STATEMENTS OF CHANGES IN NET ASSETS**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Catholic Responsible Investments Ultra Short Bond Fund** | **Catholic Responsible Investments Ultra Short Bond Fund** | **Catholic Responsible Investments Short Duration Bond Fund** | **Catholic Responsible Investments Short Duration Bond Fund** |
|  | **Year Ended October 31, 2025** | **Year Ended October 31, 2024** | **Year Ended October 31, 2025** | **Year Ended October 31, 2024** |
| **Operations:** | | | | |
| &nbsp;&nbsp;&nbsp;Net Investment Income | $3819060 | $3271009 | $22811964 | $21247977 |
| &nbsp;&nbsp;&nbsp;Net Realized Gain (Loss) | 8557 | 2781 | (476568) | (2181411) |
| &nbsp;&nbsp;&nbsp;Net Change in Unrealized Appreciation (Depreciation) | (51068) | 53199 | 4448388 | 13336182 |
| &nbsp;&nbsp;&nbsp;**Net Increase in Net Assets Resulting from Operations** | 3776549 | 3326989 | 26783784 | 32402748 |
| **Distributions:** | **Distributions:** | **Distributions:** | **Distributions:** | **Distributions:** |
| &nbsp;&nbsp;&nbsp;Institutional Shares | (3921312) | (3269104) | (22543307) | (20954065) |
| &nbsp;&nbsp;&nbsp;**Total Distributions** | (3921312) | (3269104) | (22543307) | (20954065) |
| **Capital Share Transactions:** | **Capital Share Transactions:** | **Capital Share Transactions:** | **Capital Share Transactions:** | **Capital Share Transactions:** |
| &nbsp;&nbsp;&nbsp;**Institutional:** | &nbsp;&nbsp;&nbsp;**Institutional:** | &nbsp;&nbsp;&nbsp;**Institutional:** | &nbsp;&nbsp;&nbsp;**Institutional:** | &nbsp;&nbsp;&nbsp;**Institutional:** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Issued | 119150736 | 86305592 | 88325052 | 69656278 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reinvestment of Dividends and Distributions | 3908420 | 3248940 | 22290335 | 20612579 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Redeemed | (93745830) | (81887557) | (63924574) | (79070736) |
| &nbsp;&nbsp;&nbsp;**Net Institutional Share Transactions** | 29313326 | 7666975 | 46690813 | 11198121 |
| &nbsp;&nbsp;&nbsp;**Net Increase in Net Assets from Share Transactions** | 29313326 | 7666975 | 46690813 | 11198121 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Increase in Net Assets** | 29168563 | 7724860 | 50931290 | 22646804 |
| **Net Assets:** | **Net Assets:** | **Net Assets:** | **Net Assets:** | **Net Assets:** |
| &nbsp;&nbsp;&nbsp;Beginning of Year | 66180582 | 58455722 | 496136095 | 473489291 |
| &nbsp;&nbsp;&nbsp;End of Year. | $95349145 | $66180582 | $547067385 | $496136095 |
| **Shares Transactions:** | **Shares Transactions:** | **Shares Transactions:** | **Shares Transactions:** | **Shares Transactions:** |
| &nbsp;&nbsp;&nbsp;Institutional: | &nbsp;&nbsp;&nbsp;Institutional: | &nbsp;&nbsp;&nbsp;Institutional: | &nbsp;&nbsp;&nbsp;Institutional: | &nbsp;&nbsp;&nbsp;Institutional: |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Issued | 11874457 | 8593797 | 9101283 | 7243252 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reinvestment of Dividends and Distributions | 390100 | 324009 | 2299758 | 2145662 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Redeemed | (9339275) | (8152072) | (6584868) | (8233464) |
| &nbsp;&nbsp;&nbsp;**Net Institutional Shares Capital Share Transactions** | 2925282 | 765734 | 4816173 | 1155450 |
| **Net Increase in Shares Outstanding from Share Transactions** | 2925282 | 765734 | 4816173 | 1155450 |

---

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS**

**OCTOBER 31, 2025**

**STATEMENTS OF CHANGES IN NET ASSETS**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Catholic Responsible Investments Bond Fund** | **Catholic Responsible Investments Bond Fund** | **Catholic Responsible Investments Opportunistic Bond Fund** | **Catholic Responsible Investments Opportunistic Bond Fund** |
|  | **Year Ended October 31, 2025** | **Year Ended October 31, 2024** | **Year Ended October 31, 2025** | **Year Ended October 31, 2024** |
| **Operations:** | | | | |
| &nbsp;&nbsp;&nbsp;Net Investment Income | $106010240 | $91200469 | $34095111 | $28858295 |
| &nbsp;&nbsp;&nbsp;Net Realized Gain (Loss) | (13968368) | (14914497) | 826736 | 579128 |
| &nbsp;&nbsp;&nbsp;Net Change in Unrealized Appreciation (Depreciation) | 44810935 | 135801654 | 4365710 | 22168904 |
| &nbsp;&nbsp;&nbsp;**Net Increase in Net Assets Resulting from Operations** | 136852807 | 212087626 | 39287557 | 51606327 |
| **Distributions:** | **Distributions:** | **Distributions:** | **Distributions:** | **Distributions:** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Institutional Shares | (99733069) | (86758144) | (30103785) | (26274147) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investor Shares | (4267756) | (3014383) | (3518639) | (2454257) |
| &nbsp;&nbsp;&nbsp;**Total Distributions** | (104000825) | (89772527) | (33622424) | (28728404) |
| **Capital Share Transactions:** | **Capital Share Transactions:** | **Capital Share Transactions:** | **Capital Share Transactions:** | **Capital Share Transactions:** |
| &nbsp;&nbsp;&nbsp;**Institutional:** | &nbsp;&nbsp;&nbsp;**Institutional:** | &nbsp;&nbsp;&nbsp;**Institutional:** | &nbsp;&nbsp;&nbsp;**Institutional:** | &nbsp;&nbsp;&nbsp;**Institutional:** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Issued | 330703733 | 400368664 | 92522442 | 122384357 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reinvestment of Dividends and Distributions | 92074107 | 81066125 | 28798610 | 25192879 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Redemption Fees - Note 2 |  | 721 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Redeemed | (283500633) | (127924302) | (119726202) | (36398994) |
| &nbsp;&nbsp;&nbsp;**Net Institutional Share Transactions** | 139277207 | 353511208 | 1594850 | 111178242 |
| &nbsp;&nbsp;&nbsp;**Investor:** | &nbsp;&nbsp;&nbsp;**Investor:** | &nbsp;&nbsp;&nbsp;**Investor:** | &nbsp;&nbsp;&nbsp;**Investor:** | &nbsp;&nbsp;&nbsp;**Investor:** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Issued | 54231896 | 39051520 | 30656056 | 37971157 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reinvestment of Dividends and Distributions | 4009487 | 2869228 | 3323963 | 2351810 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Redemption Fees - Note 2 |  | 2540 |  | 8 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Redeemed | (16836216) | (25188991) | (5330148) | (4495150) |
| &nbsp;&nbsp;&nbsp;**Net Investor Share Transactions** | 41405167 | 16734297 | 28649871 | 35827825 |
| &nbsp;&nbsp;&nbsp;**Net Increase in Net Assets from Share Transactions** | 180682374 | 370245505 | 30244721 | 147006067 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Increase in Net Assets** | 213534356 | 492560604 | 35909854 | 169883990 |
| **Net Assets:** | **Net Assets:** | **Net Assets:** | **Net Assets:** | **Net Assets:** |
| &nbsp;&nbsp;&nbsp;Beginning of Year | 2265441959 | 1772881355 | 695264963 | 525380973 |
| &nbsp;&nbsp;&nbsp;End of Year | $2478976315 | $2265441959 | $731174817 | $695264963 |
| **Shares Transactions:** | **Shares Transactions:** | **Shares Transactions:** | **Shares Transactions:** | **Shares Transactions:** |
| &nbsp;&nbsp;&nbsp;Institutional: | &nbsp;&nbsp;&nbsp;Institutional: | &nbsp;&nbsp;&nbsp;Institutional: | &nbsp;&nbsp;&nbsp;Institutional: | &nbsp;&nbsp;&nbsp;Institutional: |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Issued | 39039830 | 47547935 | 9918165 | 13172549 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reinvestment of Dividends and Distributions | 10857184 | 9580886 | 3092424 | 2731353 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Redeemed | (33550872) | (15168348) | (12853262) | (3945238) |
| &nbsp;&nbsp;&nbsp;**Net Institutional Shares Capital Share Transactions** | 16346142 | 41960473 | 157327 | 11958664 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investor: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investor: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investor: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investor: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investor: |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Issued | 6421612 | 4603970 | 3277477 | 4119763 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reinvestment of Dividends and Distributions | 472733 | 339176 | 356788 | 254788 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Redeemed | (1987821) | (2979660) | (572092) | (487303) |
| &nbsp;&nbsp;&nbsp;**Net Investor Shares Capital Share Transactions** | 4906524 | 1963486 | 3062173 | 3887248 |
| **Net Increase in Shares Outstanding from Share Transactions** | 21252666 | 43923959 | 3219500 | 15845912 |

---

*Amounts designated as "—" are $0.*

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS**

**OCTOBER 31, 2025**

**STATEMENTS OF CHANGES IN NET ASSETS**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Catholic Responsible Investments Equity Index Fund** | **Catholic Responsible Investments Equity Index Fund** | **Catholic Responsible Investments Small-Cap Fund** | **Catholic Responsible Investments Small-Cap Fund** |
|  | **Year Ended October 31, 2025** | **Year Ended October 31, 2024** | **Year Ended October 31, 2025** | **Year Ended October 31, 2024** |
| **Operations:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net Investment Income | $45893612 | $46777822 | $5337579 | $7901222 |
| &nbsp;&nbsp;&nbsp;Net Realized Gain | 91564206 | 65500830 | 18788766 | 19570959 |
| &nbsp;&nbsp;&nbsp;Net Change in Unrealized Appreciation (Depreciation) | 699172064 | 1012495057 | 8693634 | 99424827 |
| &nbsp;&nbsp;&nbsp;**Net Increase in Net Assets Resulting from Operations** | 836629882 | 1124773709 | 32819979 | 126897008 |
| **Distributions:** | **Distributions:** | **Distributions:** | **Distributions:** | **Distributions:** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Institutional Shares | (85790058) | (46433637) | (11245633) | (7069815) |
| &nbsp;&nbsp;&nbsp;**Total Distributions** | (85790058) | (46433637) | (11245633) | (7069815) |
| **Capital Share Transactions:** | **Capital Share Transactions:** | **Capital Share Transactions:** | **Capital Share Transactions:** | **Capital Share Transactions:** |
| &nbsp;&nbsp;&nbsp;**Institutional:** | &nbsp;&nbsp;&nbsp;**Institutional:** | &nbsp;&nbsp;&nbsp;**Institutional:** | &nbsp;&nbsp;&nbsp;**Institutional:** | &nbsp;&nbsp;&nbsp;**Institutional:** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Issued | 506937581 | 380418492 | 73484961 | 56161494 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reinvestment of Dividends and Distributions | 81061158 | 43763993 | 10305663 | 6464219 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Redemption Fees - Note 2 |  | 252 |  | 20 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Redeemed | (702726159) | (600703986) | (112124483) | (50656953) |
| &nbsp;&nbsp;&nbsp;**Net Institutional Share Transactions** | (114727420) | (176521249) | (28333859) | 11968780 |
| &nbsp;&nbsp;&nbsp;**Net Increase (Decrease) in Net Assets from Share Transactions** | (114727420) | (176521249) | (28333859) | 11968780 |
| &nbsp;&nbsp;&nbsp;**Total Increase (Decrease) in Net Assets** | 636112404 | 901818823 | (6759513) | 131795973 |
| **Net Assets:** | **Net Assets:** | **Net Assets:** | **Net Assets:** | **Net Assets:** |
| &nbsp;&nbsp;&nbsp;Beginning of Year | 3964785325 | 3062966502 | 559543081 | 427747108 |
| &nbsp;&nbsp;&nbsp;End of Year | $4600897729 | $3964785325 | $552783568 | $559543081 |
| **Shares Transactions:** | **Shares Transactions:** | **Shares Transactions:** | **Shares Transactions:** | **Shares Transactions:** |
| &nbsp;&nbsp;&nbsp;Institutional: | &nbsp;&nbsp;&nbsp;Institutional: | &nbsp;&nbsp;&nbsp;Institutional: | &nbsp;&nbsp;&nbsp;Institutional: | &nbsp;&nbsp;&nbsp;Institutional: |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Issued | 39042333 | 33434548 | 7986710 | 6019214 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reinvestment of Dividends and Distributions | 6226477 | 3814045 | 1043669 | 662969 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Redeemed | (53397098) | (52863952) | (11489781) | (5394184) |
| &nbsp;&nbsp;&nbsp;**Net Institutional Shares Capital Share Transactions** | (8128288) | (15615359) | (2459402) | 1287999 |
| **Net Increase (Decrease) in Shares Outstanding from Share Transactions** | (8128288) | (15615359) | (2459402) | 1287999 |

---

*Amounts designated as "—" are $0.*

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS**

**OCTOBER 31, 2025**

**STATEMENTS OF CHANGES IN NET ASSETS**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Catholic Responsible Investments Multi-Style US Equity Fund** | **Catholic Responsible Investments Multi-Style US Equity Fund** | **Catholic Responsible Investments International Equity Fund** | **Catholic Responsible Investments International Equity Fund** |
|  | **Year Ended October 31, 2025** | **Year Ended October 31, 2024** | **Year Ended October 31, 2025** | **Year Ended October 31, 2024** |
| **Operations:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net Investment Income | $3358708 | $5075196 | $22831706 | $19230577 |
| &nbsp;&nbsp;&nbsp;Net Realized Gain | 37199509 | 87833181 | 72058468 | 105208511 |
| &nbsp;&nbsp;&nbsp;Net Change in Unrealized Appreciation (Depreciation) | 93360874 | 123568163 | 278551488 | 186850133 |
| &nbsp;&nbsp;&nbsp;**Net Increase in Net Assets Resulting from Operations** | 133919091 | 216476540 | 373441662 | 311289221 |
| **Distributions:** | **Distributions:** | **Distributions:** | **Distributions:** | **Distributions:** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Institutional Shares | (52592309) | (4226839) | (113341163) | (22472807) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investor Shares | (2835403) | (180457) | (7396388) | (1055263) |
| &nbsp;&nbsp;&nbsp;**Total Distributions** | (55427712) | (4407296) | (120737551) | (23528070) |
| **Capital Share Transactions:** | **Capital Share Transactions:** | **Capital Share Transactions:** | **Capital Share Transactions:** | **Capital Share Transactions:** |
| &nbsp;&nbsp;&nbsp;**Institutional:** | &nbsp;&nbsp;&nbsp;**Institutional:** | &nbsp;&nbsp;&nbsp;**Institutional:** | &nbsp;&nbsp;&nbsp;**Institutional:** | &nbsp;&nbsp;&nbsp;**Institutional:** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Issued | 25624881 | 50806356 | 527780406 | 224522982 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reinvestment of Dividends and Distributions | 48227466 | 3878800 | 104741107 | 20826400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Redemption Fees - Note 2 |  | 1 |  | 1405 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Redeemed | (243165364) | (114098703) | (330357687) | (216147682) |
| &nbsp;&nbsp;&nbsp;**Net Institutional Share Transactions** | (169313017) | (59413546) | 302163826 | 29203105 |
| &nbsp;&nbsp;&nbsp;**Investor:** | &nbsp;&nbsp;&nbsp;**Investor:** | &nbsp;&nbsp;&nbsp;**Investor:** | &nbsp;&nbsp;&nbsp;**Investor:** | &nbsp;&nbsp;&nbsp;**Investor:** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Issued | 2827545 | 478233 | 68260498 | 46715810 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reinvestment of Dividends and Distributions | 2682387 | 162602 | 7336058 | 1031702 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Redemption Fees - Note 2 |  | 17 |  | 4037 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Redeemed | (10843656) | (8063115) | (25288190) | (12126335) |
| &nbsp;&nbsp;&nbsp;**Net Investor Share Transactions** | (5333724) | (7422263) | 50308366 | 35625214 |
| &nbsp;&nbsp;&nbsp;**Net Increase (Decrease) in Net Assets from Share Transactions** | (174646741) | (66835809) | 352472192 | 64828319 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Increase (Decrease) in Net Assets** | (96155362) | 145233435 | 605176303 | 352589470 |
| **Net Assets:** | **Net Assets:** | **Net Assets:** | **Net Assets:** | **Net Assets:** |
| &nbsp;&nbsp;&nbsp;Beginning of Year | 855974914 | 710741479 | 1531687726 | 1179098256 |
| &nbsp;&nbsp;&nbsp;End of Year | $759819552 | $855974914 | $2136864029 | $1531687726 |
| **Shares Transactions:** | **Shares Transactions:** | **Shares Transactions:** | **Shares Transactions:** | **Shares Transactions:** |
| &nbsp;&nbsp;&nbsp;Institutional: | &nbsp;&nbsp;&nbsp;Institutional: | &nbsp;&nbsp;&nbsp;Institutional: | &nbsp;&nbsp;&nbsp;Institutional: | &nbsp;&nbsp;&nbsp;Institutional: |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Issued | 2302701 | 4626007 | 51732174 | 22582232 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reinvestment of Dividends and Distributions | 4284107 | 354285 | 10900473 | 2075279 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Redeemed | (20754833) | (10529132) | (31500931) | (21628301) |
| &nbsp;&nbsp;&nbsp;**Net Institutional Shares Capital Share Transactions** | (14168025) | (5548840) | 31131716 | 3029210 |
| &nbsp;&nbsp;&nbsp;Investor: | &nbsp;&nbsp;&nbsp;Investor: | &nbsp;&nbsp;&nbsp;Investor: | &nbsp;&nbsp;&nbsp;Investor: | &nbsp;&nbsp;&nbsp;Investor: |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Issued | 241269 | 41214 | 6789365 | 4665422 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reinvestment of Dividends and Distributions | 238450 | 14927 | 761641 | 102039 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Redeemed | (918739) | (760071) | (2423438) | (1272521) |
| &nbsp;&nbsp;&nbsp;**Net Investor Shares Capital Share Transactions** | (439020) | (703930) | 5127568 | 3494940 |
| **Net Increase (Decrease) in Shares Outstanding from Share Transactions** | (14607045) | (6252770) | 36259284 | 6524150 |

---

*Amounts designated as "—" are $0.*

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS**

**OCTOBER 31, 2025**

**STATEMENTS OF CHANGES IN NET ASSETS**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Catholic Responsible Investments International Small-Cap Fund** | **Catholic Responsible Investments International Small-Cap Fund** | **Catholic Responsible Investments Magnus 45/55 Fund** | **Catholic Responsible Investments Magnus 45/55 Fund** |
|  | **Year Ended October 31, 2025** | **Year Ended October 31, 2024** | **Year Ended October 31, 2025** | **Year Ended October 31, 2024** |
| **Operations:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net Investment Income | $2167015 | $1583164 | $3926719 | $3757646 |
| &nbsp;&nbsp;&nbsp;Net Realized Gain | 10564936 | 5012297 | 2700731 | 670869 |
| &nbsp;&nbsp;&nbsp;Net Change in Unrealized Appreciation (Depreciation) | 9148399 | 12506567 | 8281688 | 18191245 |
| &nbsp;&nbsp;&nbsp;**Net Increase in Net Assets Resulting from Operations** | 21880350 | 19102028 | 14909138 | 22619760 |
| **Distributions:** | **Distributions:** | **Distributions:** | **Distributions:** | **Distributions:** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Institutional Shares | (2954118) | (1977492) | (2954275) | (2355327) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investor Shares |  |  | (958935) | (885252) |
| &nbsp;&nbsp;&nbsp;**Total Distributions** | (2954118) | (1977492) | (3913210) | (3240579) |
| **Capital Share Transactions:** | **Capital Share Transactions:** | **Capital Share Transactions:** | **Capital Share Transactions:** | **Capital Share Transactions:** |
| &nbsp;&nbsp;&nbsp;**Institutional:** | &nbsp;&nbsp;&nbsp;**Institutional:** | &nbsp;&nbsp;&nbsp;**Institutional:** | &nbsp;&nbsp;&nbsp;**Institutional:** | &nbsp;&nbsp;&nbsp;**Institutional:** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Issued | 13732476 | 22470821 | 1476343 | 2721544 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reinvestment of Dividends and Distributions | 2811381 | 1885426 | 2954275 | 2355327 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Redeemed | (30048677) | (6341436) | (7760952) | (3593131) |
| &nbsp;&nbsp;&nbsp;**Net Institutional Share Transactions** | (13504820) | 18014811 | (3330334) | 1483740 |
| &nbsp;&nbsp;&nbsp;**Investor:** | &nbsp;&nbsp;&nbsp;**Investor:** | &nbsp;&nbsp;&nbsp;**Investor:** | &nbsp;&nbsp;&nbsp;**Investor:** | &nbsp;&nbsp;&nbsp;**Investor:** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Issued | N/A | N/A | 5111614 | 2431801 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reinvestment of Dividends and Distributions | N/A | N/A | 948594 | 784095 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Redeemed | N/A | N/A | (7592569) | (4837007) |
| &nbsp;&nbsp;&nbsp;**Net Investor Share Transactions** | N/A | N/A | (1532361) | (1621111) |
| &nbsp;&nbsp;&nbsp;**Net Increase (Decrease) in Net Assets from Share Transactions** | (13504820) | 18014811 | (4862695) | (137371) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Increase in Net Assets** | 5421412 | 35139347 | 6133233 | 19241810 |
| **Net Assets:** | **Net Assets:** | **Net Assets:** | **Net Assets:** | **Net Assets:** |
| &nbsp;&nbsp;&nbsp;Beginning of Year | 106289097 | 71149750 | 134616413 | 115374603 |
| &nbsp;&nbsp;&nbsp;End of Year | $111710509 | $106289097 | $140749646 | $134616413 |
| **Shares Transactions:** | **Shares Transactions:** | **Shares Transactions:** | **Shares Transactions:** | **Shares Transactions:** |
| &nbsp;&nbsp;&nbsp;Institutional: | &nbsp;&nbsp;&nbsp;Institutional: | &nbsp;&nbsp;&nbsp;Institutional: | &nbsp;&nbsp;&nbsp;Institutional: | &nbsp;&nbsp;&nbsp;Institutional: |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Issued | 1289899 | 2333344 | 143883 | 261393 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reinvestment of Dividends and Distributions | 265551 | 192514 | 290775 | 246631 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Redeemed | (2773519) | (651964) | (729532) | (369650) |
| &nbsp;&nbsp;&nbsp;**Net Institutional Shares Capital Share Transactions** | (1218069) | 1873894 | (294874) | 138374 |
| &nbsp;&nbsp;&nbsp;Investor: | &nbsp;&nbsp;&nbsp;Investor: | &nbsp;&nbsp;&nbsp;Investor: | &nbsp;&nbsp;&nbsp;Investor: | &nbsp;&nbsp;&nbsp;Investor: |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Issued | N/A | N/A | 463232 | 249850 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reinvestment of Dividends and Distributions | N/A | N/A | 93274 | 82104 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Redeemed | N/A | N/A | (730447) | (486777) |
| &nbsp;&nbsp;&nbsp;**Net Investor Shares Capital Share Transactions** | N/A | N/A | (173941) | (154823) |
| **Net Increase (Decrease) in Shares Outstanding from Share Transactions** | (1218069) | 1873894 | (468815) | (16449) |

---

*Amounts designated as "—" are $0.*

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS**

**OCTOBER 31, 2025**

**STATEMENTS OF CHANGES IN NET ASSETS**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Catholic Responsible Investments Magnus 60/40 Alpha Plus Fund** | **Catholic Responsible Investments Magnus 60/40 Alpha Plus Fund** | **Catholic Responsible Investments Magnus 60/40 Beta Plus Fund** | **Catholic Responsible Investments Magnus 60/40 Beta Plus Fund** |
|  | **Year Ended October 31, 2025** | **Year Ended October 31, 2024** | **Year Ended October 31, 2025** | **Year Ended October 31, 2024** |
| **Operations:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Net Investment Income | $34007939 | $29527658 | $13618756 | $11426968 |
| &nbsp;&nbsp;&nbsp;Net Realized Gain | 33061828 | 11803906 | 7649214 | 1499633 |
| &nbsp;&nbsp;&nbsp;Net Change in Unrealized Appreciation (Depreciation) | 118299710 | 203107031 | 59733164 | 82274310 |
| &nbsp;&nbsp;&nbsp;**Net Increase in Net Assets Resulting from Operations** | 185369477 | 244438595 | 81001134 | 95200911 |
| **Distributions:** | **Distributions:** | **Distributions:** | **Distributions:** | **Distributions:** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Institutional Shares | (34294145) | (18248704) | (11291383) | (7738109) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investor Shares | (12276388) | (7054159) | (3060847) | (2885351) |
| &nbsp;&nbsp;&nbsp;**Total Distributions** | (46570533) | (25302863) | (14352230) | (10623460) |
| **Capital Share Transactions:** | **Capital Share Transactions:** | **Capital Share Transactions:** | **Capital Share Transactions:** | **Capital Share Transactions:** |
| &nbsp;&nbsp;&nbsp;**Institutional:** | &nbsp;&nbsp;&nbsp;**Institutional:** | &nbsp;&nbsp;&nbsp;**Institutional:** | &nbsp;&nbsp;&nbsp;**Institutional:** | &nbsp;&nbsp;&nbsp;**Institutional:** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Issued | 27891177 | 140008722 | 87219011 | 22654706 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reinvestment of Dividends and Distributions | 34294146 | 18248705 | 11291383 | 7738109 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Redeemed | (65279658) | (25340833) | (24007126) | (17898632) |
| &nbsp;&nbsp;&nbsp;**Net Institutional Share Transactions** | (3094335) | 132916594 | 74503268 | 12494183 |
| &nbsp;&nbsp;&nbsp;**Investor:** | &nbsp;&nbsp;&nbsp;**Investor:** | &nbsp;&nbsp;&nbsp;**Investor:** | &nbsp;&nbsp;&nbsp;**Investor:** | &nbsp;&nbsp;&nbsp;**Investor:** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Issued | 23113856 | 8726284 | 87048025 | 7810880 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reinvestment of Dividends and Distributions | 11858454 | 6779560 | 2968988 | 2825877 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Redeemed | (36386793) | (15153294) | (29458172) | (44229572) |
| &nbsp;&nbsp;&nbsp;**Net Investor Share Transactions** | (1414483) | 352550 | 60558841 | (33592815) |
| &nbsp;&nbsp;&nbsp;**Net Increase (Decrease) in Net Assets from Share Transactions** | (4508818) | 133269144 | 135062109 | (21098632) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Increase in Net Assets** | 134290126 | 352404876 | 201711013 | 63478819 |
| **Net Assets:** | **Net Assets:** | **Net Assets:** | **Net Assets:** | **Net Assets:** |
| &nbsp;&nbsp;&nbsp;Beginning of Year | 1399799257 | 1047394381 | 469168507 | 405689688 |
| &nbsp;&nbsp;&nbsp;End of Year | $1534089383 | $1399799257 | $670879520 | $469168507 |
| **Shares Transactions:** | **Shares Transactions:** | **Shares Transactions:** | **Shares Transactions:** | **Shares Transactions:** |
| &nbsp;&nbsp;&nbsp;Institutional: | &nbsp;&nbsp;&nbsp;Institutional: | &nbsp;&nbsp;&nbsp;Institutional: | &nbsp;&nbsp;&nbsp;Institutional: | &nbsp;&nbsp;&nbsp;Institutional: |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Issued | 2488640 | 13917585 | 8740145 | 2161097 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reinvestment of Dividends and Distributions | 3294000 | 1886891 | 1061464 | 797743 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Redeemed | (6064151) | (2493896) | (2199559) | (1767027) |
| &nbsp;&nbsp;&nbsp;**Net Institutional Shares Capital Share Transactions** | (281511) | 13310580 | 7602050 | 1191813 |
| &nbsp;&nbsp;&nbsp;Investor: | &nbsp;&nbsp;&nbsp;Investor: | &nbsp;&nbsp;&nbsp;Investor: | &nbsp;&nbsp;&nbsp;Investor: | &nbsp;&nbsp;&nbsp;Investor: |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Issued | 2147215 | 874074 | 7639852 | 765309 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reinvestment of Dividends and Distributions | 1138905 | 700998 | 278801 | 291027 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Redeemed | (3288364) | (1517744) | (2785117) | (4253011) |
| &nbsp;&nbsp;&nbsp;**Net Investor Shares Capital Share Transactions** | (2244) | 57328 | 5133536 | (3196675) |
| **Net Increase (Decrease) in Shares Outstanding from Share Transactions** | (283755) | 13367908 | 12735586 | (2004862) |

---

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS**

**OCTOBER 31, 2025**

**STATEMENTS OF CHANGES IN NET ASSETS**

---

| | | |
|:---|:---|:---|
|  | **Catholic Responsible Investments Magnus 75/25 Fund** | **Catholic Responsible Investments Magnus 75/25 Fund** |
|  | **Year Ended October 31, 2025** | **Year Ended October 31, 2024** |
| **Operations:** | | |
| &nbsp;&nbsp;&nbsp;Net Investment Income | $4657482 | $5950354 |
| &nbsp;&nbsp;&nbsp;Net Realized Gain | 40550391 | 654381 |
| &nbsp;&nbsp;&nbsp;Net Change in Unrealized Appreciation (Depreciation) | (19315064) | 60181025 |
| &nbsp;&nbsp;&nbsp;**Net Increase in Net Assets Resulting from Operations** | 25892809 | 66785760 |
| **Distributions:** | **Distributions:** | **Distributions:** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Institutional Shares | (6347464) | (5258918) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investor Shares | (1034420) | (774184) |
| &nbsp;&nbsp;&nbsp;**Total Distributions** | (7381884) | (6033102) |
| **Capital Share Transactions:** | **Capital Share Transactions:** | **Capital Share Transactions:** |
| &nbsp;&nbsp;&nbsp;**Institutional:** | &nbsp;&nbsp;&nbsp;**Institutional:** | &nbsp;&nbsp;&nbsp;**Institutional:** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Issued | 17416876 | 31701352 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reinvestment of Dividends and Distributions | 6347465 | 5258918 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Redeemed | (210967952) | (11144925) |
| &nbsp;&nbsp;&nbsp;**Net Institutional Share Transactions** | (187203611) | 25815345 |
| &nbsp;&nbsp;&nbsp;**Investor:** | &nbsp;&nbsp;&nbsp;**Investor:** | &nbsp;&nbsp;&nbsp;**Investor:** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Issued | 795939 | 12398998 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reinvestment of Dividends and Distributions | 1034420 | 774185 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Redeemed | (1080964) | (14124112) |
| &nbsp;&nbsp;&nbsp;**Net Investor Share Transactions** | 749395 | (950929) |
| &nbsp;&nbsp;&nbsp;**Net Increase (Decrease) in Net Assets from Share Transactions** | (186454216) | 24864416 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total Increase (Decrease) in Net Assets** | (167943291) | 85617074 |
| **Net Assets:** | **Net Assets:** | **Net Assets:** |
| &nbsp;&nbsp;&nbsp;Beginning of Year | 339330315 | 253713241 |
| &nbsp;&nbsp;&nbsp;End of Year | $171387024 | $339330315 |
| **Shares Transactions:** | **Shares Transactions:** | **Shares Transactions:** |
| &nbsp;&nbsp;&nbsp;Institutional: | &nbsp;&nbsp;&nbsp;Institutional: | &nbsp;&nbsp;&nbsp;Institutional: |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Issued | 1540966 | 2968946 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reinvestment of Dividends and Distributions | 587776 | 539274 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Redeemed | (19442757) | (1081340) |
| &nbsp;&nbsp;&nbsp;**Net Institutional Shares Capital Share Transactions** | (17314015) | 2426880 |
| &nbsp;&nbsp;&nbsp;Investor: | &nbsp;&nbsp;&nbsp;Investor: | &nbsp;&nbsp;&nbsp;Investor: |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Issued | 68286 | 1127102 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reinvestment of Dividends and Distributions | 95779 | 79390 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Redeemed | (92922) | (1360378) |
| &nbsp;&nbsp;&nbsp;**Net Investor Shares Capital Share Transactions** | 71143 | (153886) |
| **Net Increase (Decrease) in Shares Outstanding from Share Transactions** | (17242872) | 2272994 |

---

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS**

**OCTOBER 31, 2025**

**FINANCIAL HIGHLIGHTS**

**Selected Per Share Data & Ratios**

**For the Fiscal Years or Period Ended October 31, For A Share Outstanding Throughout the Years or Period**

---

| | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Net Asset Value, Beginning of Year or Period | Net Investment Income\* | Net Realized and Unrealized Gain (Loss) | Total from Operations | Distributions from Net Investment Income | Distributions from Net Realized Capital Gains | Total Distributions | Redemption Fees\*\* | | Net Asset Value, End of Year or Period | Total Return† | Net Assets, End of Year or Period (000) | Ratio of Expenses to Average Net Assets | Ratio of Expenses to Average Net Assets (excluding waivers) | Ratio of Net Investment Income to Average Net Assets | Portfolio Turnover Rate |
| **Catholic Responsible Investments Ultra Short Bond Fund** | **Catholic Responsible Investments Ultra Short Bond Fund** | **Catholic Responsible Investments Ultra Short Bond Fund** | **Catholic Responsible Investments Ultra Short Bond Fund** | **Catholic Responsible Investments Ultra Short Bond Fund** | **Catholic Responsible Investments Ultra Short Bond Fund** | **Catholic Responsible Investments Ultra Short Bond Fund** | **Catholic Responsible Investments Ultra Short Bond Fund** | **Catholic Responsible Investments Ultra Short Bond Fund** | **Catholic Responsible Investments Ultra Short Bond Fund** | **Catholic Responsible Investments Ultra Short Bond Fund** | **Catholic Responsible Investments Ultra Short Bond Fund** | **Catholic Responsible Investments Ultra Short Bond Fund** | **Catholic Responsible Investments Ultra Short Bond Fund** | **Catholic Responsible Investments Ultra Short Bond Fund** | **Catholic Responsible Investments Ultra Short Bond Fund** | **Catholic Responsible Investments Ultra Short Bond Fund** |
| **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** |
| 2025 | $10.04 | $0.43 | $– | $0.43 | $(0.42) | $(0.03) | $(0.45) | $– |  | $10.02 | 4.34% | $95349 | 0.35% | 0.47% | 4.28% | 96% |
| 2024 | $10.03 | $0.52 | $0.02 | $0.54 | $(0.50) | $(0.03) | $(0.53) | $– |  | $10.04 | 5.38% | $66181 | 0.35% | 0.54% | 5.16% | 118% |
| 2023 | $9.99 | $0.45 | $0.01 | $0.46 | $(0.42) | $– | $(0.42) | $– |  | $10.03 | 4.76% | $58456 | 0.35% | 0.54% | 4.46% | 93% |
| 2022<sup>(1)</sup> | $10.00 | $0.07 | $– <sup>(a)</sup> | $0.07 | $(0.08) | $– | $(0.08) | $– |  | $9.99 | 0.69% | $53159 | 0.35% | 0.58% | 0.80% | 14% |
| **Catholic Responsible Investments Short Duration Bond Fund** | **Catholic Responsible Investments Short Duration Bond Fund** | **Catholic Responsible Investments Short Duration Bond Fund** | **Catholic Responsible Investments Short Duration Bond Fund** | **Catholic Responsible Investments Short Duration Bond Fund** | **Catholic Responsible Investments Short Duration Bond Fund** | **Catholic Responsible Investments Short Duration Bond Fund** | **Catholic Responsible Investments Short Duration Bond Fund** | **Catholic Responsible Investments Short Duration Bond Fund** | **Catholic Responsible Investments Short Duration Bond Fund** | **Catholic Responsible Investments Short Duration Bond Fund** | **Catholic Responsible Investments Short Duration Bond Fund** | **Catholic Responsible Investments Short Duration Bond Fund** | **Catholic Responsible Investments Short Duration Bond Fund** | **Catholic Responsible Investments Short Duration Bond Fund** | **Catholic Responsible Investments Short Duration Bond Fund** | **Catholic Responsible Investments Short Duration Bond Fund** |
| **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** |
| 2025 | $9.66 | $0.43 | $0.06 | $0.49 | $(0.42) | $– | $(0.42) | $– |  | $9.73 | 5.31% | $547067 | 0.35% | 0.38% | 4.42% | 50% |
| 2024 | $9.43 | $0.42 | $0.23 | $0.65 | $(0.42) | $– | $(0.42) | $– |  | $9.66 | 6.95% | $496136 | 0.35% | 0.38% | 4.39% | 50% |
| 2023 | $9.41 | $0.31 | $0.03 | $0.34 | $(0.32) | $– | $(0.32) | $– |  | $9.43 | 3.62% | $473489 | 0.35% | 0.38% | 3.25% | 59% |
| 2022<sup>(1)</sup> | $10.00 | $0.13 | $(0.58) | $(0.45) | $(0.14) | $– | $(0.14) | $– |  | $9.41 | (4.52)% | $473663 | 0.35% | 0.37% | 1.54% | 95% |
| **Catholic Responsible Investments Bond Fund** | **Catholic Responsible Investments Bond Fund** | **Catholic Responsible Investments Bond Fund** | **Catholic Responsible Investments Bond Fund** | **Catholic Responsible Investments Bond Fund** | **Catholic Responsible Investments Bond Fund** | **Catholic Responsible Investments Bond Fund** | **Catholic Responsible Investments Bond Fund** | **Catholic Responsible Investments Bond Fund** | **Catholic Responsible Investments Bond Fund** | **Catholic Responsible Investments Bond Fund** | **Catholic Responsible Investments Bond Fund** | **Catholic Responsible Investments Bond Fund** | **Catholic Responsible Investments Bond Fund** | **Catholic Responsible Investments Bond Fund** | **Catholic Responsible Investments Bond Fund** | **Catholic Responsible Investments Bond Fund** |
| **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** |
| 2025 | $8.48 | $0.38 | $0.11 | $0.49 | $(0.37) | $– | $(0.37) | $– |  | $8.60 | 5.92% | $2359286 | 0.35% | 0.35% | 4.50% | 81% |
| 2024 | $7.94 | $0.37 | $0.53 | $0.90 | $(0.36) | $– | $(0.36) | $– | # | $8.48 | 11.46% | $2188958 | 0.35% | 0.35% | 4.39% | 97% |
| 2023 | $8.23 | $0.35 | $(0.30) | $0.05 | $(0.34) | $– | $(0.34) | $– |  | $7.94 | 0.57% | $1716839 | 0.36% | 0.36% | 4.11% | 54% |
| 2022<sup>(1)</sup> | $10.00 | $0.20 | $(1.77) | $(1.57) | $(0.20) | $– | $(0.20) | $– |  | $8.23 | (15.86)% | $1624983 | 0.36% | 0.36% | 2.39% | 86% |
| **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** |
| 2025 | $8.48 | $0.37 | $0.10 | $0.47 | $(0.36) | $– | $(0.36) | $– |  | $8.59 | 5.76% | $119690 | 0.50% | 0.50% | 4.35% | 81% |
| 2024 | $7.94 | $0.36 | $0.53 | $0.89 | $(0.35) | $– | $(0.35) | $– | # | $8.48 | 11.30% | $76484 | 0.50% | 0.50% | 4.24% | 97% |
| 2023 | $8.23 | $0.33 | $(0.29) | $0.04 | $(0.33) | $– | $(0.33) | $– |  | $7.94 | 0.41% | $56043 | 0.51% | 0.51% | 3.96% | 54% |
| 2022<sup>(1)</sup> | $10.00 | $0.18 | $(1.76) | $(1.58) | $(0.19) | $– | $(0.19) | $– |  | $8.23 | (15.97)% | $50830 | 0.51% | 0.51% | 2.23% | 86% |

---

\* *Per share data calculated using the average shares method.*

\*\* *See Note 2 in the Notes to Financial Statements.*

&nbsp;&nbsp;&nbsp;&nbsp;*†* *Total return is for the period indicated and has not been annualized if less than one year. Returns do not reflect the deduction of taxes the shareholder would pay on fund distributions or redemption of fund shares.* 

*#* *Amount represents less than $0.005 per share.*

&nbsp;&nbsp;&nbsp;&nbsp;*(1)* *Commenced operations on December 6, 2021. All ratios for the period have been annualized.* 

&nbsp;&nbsp;&nbsp;&nbsp;*(a)* *Amount is less than $0.005 per share.* 

*Amounts designated as "—" are $0.*

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS**

**OCTOBER 31, 2025**

**FINANCIAL HIGHLIGHTS**

**Selected Per Share Data & Ratios**

**For the Fiscal Years or Period Ended October 31, For A Share Outstanding Throughout the Years or Period**

---

| | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Net Asset Value, Beginning of Year or Period | Net Investment Income\* | Net Realized and Unrealized Gain (Loss) | Total from Operations | Distributions from Net Investment Income | Distributions from Net Realized Capital Gains | Total Distributions | Redemption Fees\*\* | | Net Asset Value, End of Year or Period | Total Return† | Net Assets, End of Year or Period (000) | Ratio of Expenses to Average Net Assets | Ratio of Expenses to Average Net Assets (excluding waivers) | Ratio of Net Investment Income to Average Net Assets | Portfolio Turnover Rate |
| **Catholic Responsible Investments Opportunistic Bond Fund** | **Catholic Responsible Investments Opportunistic Bond Fund** | **Catholic Responsible Investments Opportunistic Bond Fund** | **Catholic Responsible Investments Opportunistic Bond Fund** | **Catholic Responsible Investments Opportunistic Bond Fund** | **Catholic Responsible Investments Opportunistic Bond Fund** | **Catholic Responsible Investments Opportunistic Bond Fund** | **Catholic Responsible Investments Opportunistic Bond Fund** | **Catholic Responsible Investments Opportunistic Bond Fund** | **Catholic Responsible Investments Opportunistic Bond Fund** | **Catholic Responsible Investments Opportunistic Bond Fund** | **Catholic Responsible Investments Opportunistic Bond Fund** | **Catholic Responsible Investments Opportunistic Bond Fund** | **Catholic Responsible Investments Opportunistic Bond Fund** | **Catholic Responsible Investments Opportunistic Bond Fund** | **Catholic Responsible Investments Opportunistic Bond Fund** | **Catholic Responsible Investments Opportunistic Bond Fund** |
| **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** |
| 2025 | $9.29 | $0.45 | $0.06 | $0.51 | $(0.44) | $– | $(0.44) | $– |  | $9.36 | 5.75% | $637747 | 0.41% | 0.42% | 4.82% | 160% |
| 2024 | $8.90 | $0.45 | $0.38 | $0.83 | $(0.44) | $– | $(0.44) | $– | # | $9.29 | 9.42% | $631035 | 0.41% | 0.43% | 4.83% | 118% |
| 2023 | $9.04 | $0.41 | $(0.14) | $0.27 | $(0.41) | $– | $(0.41) | $– |  | $8.90 | 2.94% | $498415 | 0.41% | 0.44% | 4.45% | 74% |
| 2022<sup>(1)</sup> | $10.00 | $0.19 | $(0.96) | $(0.77) | $(0.19) | $– | $(0.19) | $– |  | $9.04 | (7.75)% | $462249 | 0.41% | 0.44% | 2.24% | 179% |
| **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** |
| 2025 | $9.29 | $0.44 | $0.06 | $0.50 | $(0.43) | $– | $(0.43) | $– |  | $9.36 | 5.58% | $93428 | 0.56% | 0.57% | 4.67% | 160% |
| 2024 | $8.90 | $0.43 | $0.39 | $0.82 | $(0.43) | $– | $(0.43) | $– | # | $9.29 | 9.25% | $64230 | 0.56% | 0.58% | 4.68% | 118% |
| 2023 | $9.04 | $0.39 | $(0.14) | $0.25 | $(0.39) | $– | $(0.39) | $– |  | $8.90 | 2.81% | $26966 | 0.56% | 0.59% | 4.29% | 74% |
| 2022<sup>(1)</sup> | $10.00 | $0.18 | $(0.96) | $(0.78) | $(0.18) | $– | $(0.18) | $– |  | $9.04 | (7.88)% | $27438 | 0.56% | 0.60% | 2.10% | 179% |
| **Catholic Responsible Investments Equity Index Fund** | **Catholic Responsible Investments Equity Index Fund** | **Catholic Responsible Investments Equity Index Fund** | **Catholic Responsible Investments Equity Index Fund** | **Catholic Responsible Investments Equity Index Fund** | **Catholic Responsible Investments Equity Index Fund** | **Catholic Responsible Investments Equity Index Fund** | **Catholic Responsible Investments Equity Index Fund** | **Catholic Responsible Investments Equity Index Fund** | **Catholic Responsible Investments Equity Index Fund** | **Catholic Responsible Investments Equity Index Fund** | **Catholic Responsible Investments Equity Index Fund** | **Catholic Responsible Investments Equity Index Fund** | **Catholic Responsible Investments Equity Index Fund** | **Catholic Responsible Investments Equity Index Fund** | **Catholic Responsible Investments Equity Index Fund** | **Catholic Responsible Investments Equity Index Fund** |
| **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** |
| 2025 | $12.41 | $0.15 | $2.48 | $2.63 | $(0.15) | $(0.12) | $(0.27) | $– |  | $14.77 | 21.59% | $4600898 | 0.09% | 0.11% | 1.10% | 26% |
| 2024 | $9.14 | $0.14 | $3.27 | $3.41 | $(0.14) | $– | $(0.14) | $– | # | $12.41 | 37.46% | $3964785 | 0.09% | 0.10% | 1.26% | 24% |
| 2023 | $8.40 | $0.13 | $0.74 | $0.87 | $(0.13) | $– | $(0.13) | $– |  | $9.14 | 10.43% | $3062967 | 0.09% | 0.11% | 1.48% | 17% |
| 2022<sup>(1)</sup> | $10.00 | $0.11 | $(1.61) | $(1.50) | $(0.10) | $– | $(0.10) | $– |  | $8.40 | (15.01)% | $2837203 | 0.09% | 0.11% | 1.34% | 21% |
| **Catholic Responsible Investments Small-Cap Fund** | **Catholic Responsible Investments Small-Cap Fund** | **Catholic Responsible Investments Small-Cap Fund** | **Catholic Responsible Investments Small-Cap Fund** | **Catholic Responsible Investments Small-Cap Fund** | **Catholic Responsible Investments Small-Cap Fund** | **Catholic Responsible Investments Small-Cap Fund** | **Catholic Responsible Investments Small-Cap Fund** | **Catholic Responsible Investments Small-Cap Fund** | **Catholic Responsible Investments Small-Cap Fund** | **Catholic Responsible Investments Small-Cap Fund** | **Catholic Responsible Investments Small-Cap Fund** | **Catholic Responsible Investments Small-Cap Fund** | **Catholic Responsible Investments Small-Cap Fund** | **Catholic Responsible Investments Small-Cap Fund** | **Catholic Responsible Investments Small-Cap Fund** | **Catholic Responsible Investments Small-Cap Fund** |
| **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** |
| 2025 | $9.96 | $0.10 | $0.43 | $0.53 | $(0.12) | $(0.09) | $(0.21) | $– |  | $10.28 | 5.45% | $552784 | 0.28% | 0.28% | 0.98% | 26% |
| 2024 | $7.79 | $0.14 | $2.16 | $2.30 | $(0.13) | $– | $(0.13) | $– | # | $9.96 | 29.49% | $559543 | 0.28% | 0.28% | 1.51% | 28% |
| 2023 | $8.92 | $0.12 | $(0.82) | $(0.70) | $(0.12) | $(0.31) | $(0.43) | $– |  | $7.79 | (8.15)% | $427747 | 0.29% | 0.29% | 1.41% | 30% |
| 2022<sup>(1)</sup> | $10.00 | $0.09 | $(1.08) | $(0.99) | $(0.09) | $– | $(0.09) | $– |  | $8.92 | (9.88)% | $462990 | 0.29% | 0.29% | 1.09% | 25% |

---

\* *Per share data calculated using the average shares method.*

\*\* *See Note 2 in the Notes to Financial Statements.*

&nbsp;&nbsp;&nbsp;&nbsp;*†* *Total return is for the period indicated and has not been annualized if less than one year. Returns do not reflect the deduction of taxes the shareholder would pay on fund distributions or redemption of fund shares.* 

*#* *Amount represents less than $0.005 per share.*

&nbsp;&nbsp;&nbsp;&nbsp;*(1)* *Commenced operations on December 6, 2021. All ratios for the period have been annualized.* 

*Amounts designated as "—" are $0.*

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS**

**OCTOBER 31, 2025**

**FINANCIAL HIGHLIGHTS**

**Selected Per Share Data & Ratios**

**For the Fiscal Years or Period Ended October 31, For A Share Outstanding Throughout the Years or Period**

---

| | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Net Asset Value, Beginning of Year or Period | Net Investment Income\* | Net Realized and Unrealized Gain (Loss) | Total from Operations | Distributions from Net Investment Income | Distributions from Net Realized Capital Gains | Total Distributions | Redemption Fees\*\* | | Net Asset Value, End of Year or Period | Total Return† | Net Assets, End of Year or Period (000) | Ratio of Expenses to Average Net Assets | Ratio of Expenses to Average Net Assets (excluding waivers) | Ratio of Net Investment Income to Average Net Assets | Portfolio Turnover Rate |
| **Catholic Responsible Investments Multi-Style US Equity Fund** | **Catholic Responsible Investments Multi-Style US Equity Fund** | **Catholic Responsible Investments Multi-Style US Equity Fund** | **Catholic Responsible Investments Multi-Style US Equity Fund** | **Catholic Responsible Investments Multi-Style US Equity Fund** | **Catholic Responsible Investments Multi-Style US Equity Fund** | **Catholic Responsible Investments Multi-Style US Equity Fund** | **Catholic Responsible Investments Multi-Style US Equity Fund** | **Catholic Responsible Investments Multi-Style US Equity Fund** | **Catholic Responsible Investments Multi-Style US Equity Fund** | **Catholic Responsible Investments Multi-Style US Equity Fund** | **Catholic Responsible Investments Multi-Style US Equity Fund** | **Catholic Responsible Investments Multi-Style US Equity Fund** | **Catholic Responsible Investments Multi-Style US Equity Fund** | **Catholic Responsible Investments Multi-Style US Equity Fund** | **Catholic Responsible Investments Multi-Style US Equity Fund** | **Catholic Responsible Investments Multi-Style US Equity Fund** |
| **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** |
| 2025 | $11.60 | $0.05 | $1.95 | $2.00 | $(0.06) | $(0.71) | $(0.77) | $– |  | $12.83 | 18.35% | $714148 | 0.67% | 0.67% | 0.42% | 41% |
| 2024 | $8.88 | $0.07 | $2.71 | $2.78 | $(0.06) | $– | $(0.06) | $– | # | $11.60 | 31.33% | $809613 | 0.65% | 0.65% | 0.62% | 178% |
| 2023 | $8.03 | $0.05 | $0.85 | $0.90 | $(0.05) | $– | $(0.05) | $– |  | $8.88 | 11.17% | $669001 | 0.66% | 0.66% | 0.56% | 32% |
| 2022<sup>(1)</sup> | $10.00 | $0.03 | $(1.97) | $(1.94) | $(0.03) | $– | $(0.03) | $– |  | $8.03 | (19.39)% | $618980 | 0.67% | 0.67% | 0.39% | 33% |
| **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** |
| 2025 | $11.60 | $0.03 | $1.96 | $1.99 | $(0.05) | $(0.71) | $(0.76) | $– |  | $12.83 | 18.17% | $45672 | 0.82% | 0.82% | 0.27% | 41% |
| 2024 | $8.88 | $0.05 | $2.71 | $2.76 | $(0.04) | $– | $(0.04) | $– | # | $11.60 | 31.14% | $46362 | 0.80% | 0.80% | 0.48% | 178% |
| 2023 | $8.03 | $0.04 | $0.85 | $0.89 | $(0.04) | $– | $(0.04) | $– |  | $8.88 | 11.00% | $41740 | 0.81% | 0.81% | 0.41% | 32% |
| 2022<sup>(1)</sup> | $10.00 | $0.02 | $(1.97) | $(1.95) | $(0.02) | $– | $(0.02) | $– |  | $8.03 | (19.50)% | $42604 | 0.82% | 0.82% | 0.23% | 33% |
| **Catholic Responsible Investments International Equity Fund** | **Catholic Responsible Investments International Equity Fund** | **Catholic Responsible Investments International Equity Fund** | **Catholic Responsible Investments International Equity Fund** | **Catholic Responsible Investments International Equity Fund** | **Catholic Responsible Investments International Equity Fund** | **Catholic Responsible Investments International Equity Fund** | **Catholic Responsible Investments International Equity Fund** | **Catholic Responsible Investments International Equity Fund** | **Catholic Responsible Investments International Equity Fund** | **Catholic Responsible Investments International Equity Fund** | **Catholic Responsible Investments International Equity Fund** | **Catholic Responsible Investments International Equity Fund** | **Catholic Responsible Investments International Equity Fund** | **Catholic Responsible Investments International Equity Fund** | **Catholic Responsible Investments International Equity Fund** | **Catholic Responsible Investments International Equity Fund** |
| **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** |
| 2025 | $10.24 | $0.13 | $1.91 | $2.04 | $(0.19) | $(0.59) | $(0.78) | $– |  | $11.50 | 21.58% | $1972286 | 0.80% | 0.80% | 1.25% | 46% |
| 2024 | $8.24 | $0.13 | $2.03 | $2.16 | $(0.16) | $– | $(0.16) | $– | # | $10.24 | 26.27% | $1437638 | 0.80% | 0.80% | 1.34% | 52% |
| 2023 | $7.40 | $0.13 | $0.85 | $0.98 | $(0.14) | $– | $(0.14) | $– |  | $8.24 | 13.24% | $1132230 | 0.81% | 0.81% | 1.53% | 47% |
| 2022<sup>(1)</sup> | $10.00 | $0.13 | $(2.61) | $(2.48) | $(0.12) | $– | $(0.12) | $– |  | $7.40 | (24.88)% | $1008309 | 0.82% | 0.82% | 1.68% | 46% |
| **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** |
| 2025 | $10.24 | $0.12 | $1.91 | $2.03 | $(0.18) | $(0.59) | $(0.77) | $– |  | $11.50 | 21.39% | $164578 | 0.95% | 0.95% | 1.12% | 46% |
| 2024 | $8.24 | $0.12 | $2.03 | $2.15 | $(0.15) | $– | $(0.15) | $– | # | $10.24 | 26.14% | $94050 | 0.95% | 0.95% | 1.19% | 52% |
| 2023 | $7.40 | $0.12 | $0.85 | $0.97 | $(0.13) | $– | $(0.13) | $– |  | $8.24 | 13.07% | $46868 | 0.96% | 0.96% | 1.36% | 47% |
| 2022<sup>(1)</sup> | $10.00 | $0.12 | $(2.61) | $(2.49) | $(0.11) | $– | $(0.11) | $– |  | $7.40 | (24.98)% | $47864 | 0.97% | 0.97% | 1.52% | 46% |
| **Catholic Responsible Investments International Small-Cap Fund** | **Catholic Responsible Investments International Small-Cap Fund** | **Catholic Responsible Investments International Small-Cap Fund** | **Catholic Responsible Investments International Small-Cap Fund** | **Catholic Responsible Investments International Small-Cap Fund** | **Catholic Responsible Investments International Small-Cap Fund** | **Catholic Responsible Investments International Small-Cap Fund** | **Catholic Responsible Investments International Small-Cap Fund** | **Catholic Responsible Investments International Small-Cap Fund** | **Catholic Responsible Investments International Small-Cap Fund** | **Catholic Responsible Investments International Small-Cap Fund** | **Catholic Responsible Investments International Small-Cap Fund** | **Catholic Responsible Investments International Small-Cap Fund** | **Catholic Responsible Investments International Small-Cap Fund** | **Catholic Responsible Investments International Small-Cap Fund** | **Catholic Responsible Investments International Small-Cap Fund** | **Catholic Responsible Investments International Small-Cap Fund** |
| **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** |
| 2025 | $9.87 | $0.21 | $1.91 | $2.12 | $(0.29) | $– | $(0.29) | $– |  | $11.70 | 21.73% | $111711 | 1.15%<sup>(2)</sup> | 1.30%<sup>(2)</sup> | 1.96%<sup>(3)</sup> | 59% |
| 2024 | $8.00 | $0.16 | $1.91 | $2.07 | $(0.20) | $– | $(0.20) | $– | # | $9.87 | 25.88% | $106289 | 1.15% | 1.34% | 1.69% | 135% |
| 2023 | $7.57 | $0.19 | $0.44 | $0.63 | $(0.20) | $– | $(0.20) | $– |  | $8.00 | 8.12% | $71150 | 1.15% | 1.30% | 2.19% | 68% |
| 2022<sup>(1)</sup> | $10.00 | $0.18 | $(2.47) | $(2.29) | $(0.14) | $– | $(0.14) | $– |  | $7.57 | (22.99)% | $65161 | 1.15% | 1.40% | 2.17% | 69% |

---

\* *Per share data calculated using the average shares method.*

\*\* *See Note 2 in the Notes to Financial Statements.*

&nbsp;&nbsp;&nbsp;&nbsp;*†* *Total return is for the period indicated and has not been annualized if less than one year. Returns do not reflect the deduction of taxes the shareholder would pay on fund distributions or redemption of fund shares.* 

*#* *Amount represents less than $0.005 per share.*

&nbsp;&nbsp;&nbsp;&nbsp;*(1)* *Commenced operations on December 6, 2021. All ratios for the period have been annualized.* 

&nbsp;&nbsp;&nbsp;&nbsp;*(2)* *The Fund will also indirectly bear their prorated share of expenses of any underlying funds in which it invests. Such expenses are not included in the calculation of this ratio.* 

&nbsp;&nbsp;&nbsp;&nbsp;*(3)* *The net investment income ratio does not reflect the proportionate share of income and expenses of the underlying funds in which the Fund invests.* 

*Amounts designated as "—" are $0.*

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS**

**OCTOBER 31, 2025**

**FINANCIAL HIGHLIGHTS**

**Selected Per Share Data & Ratios**

**For the Fiscal Years or Period Ended October 31, For A Share Outstanding Throughout the Years or Periods**

---

| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Net Asset Value, Beginning of Year or Period | Net Investment Income\* | Net Realized and Unrealized Gain (Loss) | Total from Operations | Distributions from Net Investment Income | Distributions from Net Realized Capital Gains | Total Distributions | Redemption Fees\*\* | Net Asset Value, End of Year or Period | Total Return† | Net Assets, End of Year or Period (000) | Ratio of Expenses to Average Net Assets | Ratio of Expenses to Average Net Assets (excluding waivers) | Ratio of Net Investment Income to Average Net Assets | Portfolio Turnover Rate |
| **Catholic Responsible Investments Magnus 45/55 Fund** | **Catholic Responsible Investments Magnus 45/55 Fund** | **Catholic Responsible Investments Magnus 45/55 Fund** | **Catholic Responsible Investments Magnus 45/55 Fund** | **Catholic Responsible Investments Magnus 45/55 Fund** | **Catholic Responsible Investments Magnus 45/55 Fund** | **Catholic Responsible Investments Magnus 45/55 Fund** | **Catholic Responsible Investments Magnus 45/55 Fund** | **Catholic Responsible Investments Magnus 45/55 Fund** | **Catholic Responsible Investments Magnus 45/55 Fund** | **Catholic Responsible Investments Magnus 45/55 Fund** | **Catholic Responsible Investments Magnus 45/55 Fund** | **Catholic Responsible Investments Magnus 45/55 Fund** | **Catholic Responsible Investments Magnus 45/55 Fund** | **Catholic Responsible Investments Magnus 45/55 Fund** | **Catholic Responsible Investments Magnus 45/55 Fund** |
| **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** |
| 2025 | $10.37 | $0.31 | $0.88 | $1.19 | $(0.31) | $– | $(0.31) | $– | $11.25 | 11.80% | $104041 | 0.02%<sup>(1)</sup> | 0.11%<sup>(1)</sup> | 2.98%<sup>(2)</sup> | 12% |
| 2024 | $8.87 | $0.29 | $1.46 | $1.75 | $(0.25) | $– | $(0.25) | $– | $10.37 | 19.91% | $98975 | –%<sup>(1)</sup> | 0.11%<sup>(1)</sup> | 2.96%<sup>(2)</sup> | 10% |
| 2023 | $8.60 | $0.27 | $0.15 | $0.42 | $(0.15) | $– | $(0.15) | $– | $8.87 | 4.96% | $83489 | –%<sup>(1)</sup> | 0.14%<sup>(1)</sup> | 2.94%<sup>(2)</sup> | 8% |
| 2022<sup>(3)</sup> | $10.00 | $0.15 | $(1.54) | $(1.39) | $(0.01) | $– | $(0.01) | $– | $8.60 | (13.93)% | $42017 | –%<sup>(1)</sup> | 0.20%<sup>(1)</sup> | 1.75%<sup>(2)</sup> | 9% |
| **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** |
| 2025 | $10.36 | $0.30 | $0.87 | $1.17 | $(0.30) | $– | $(0.30) | $– | $11.23 | 11.64% | $36709 | 0.17%<sup>(1)</sup> | 0.26%<sup>(1)</sup> | 2.82%<sup>(2)</sup> | 12% |
| 2024 | $8.87 | $0.28 | $1.45 | $1.73 | $(0.24) | $– | $(0.24) | $– | $10.36 | 19.73% | $35641 | 0.15%<sup>(1)</sup> | 0.26%<sup>(1)</sup> | 2.81%<sup>(2)</sup> | 10% |
| 2023 | $8.59 | $0.24 | $0.18 | $0.42 | $(0.14) | $– | $(0.14) | $– | $8.87 | 4.80% | $31886 | 0.15%<sup>(1)</sup> | 0.29%<sup>(1)</sup> | 2.69%<sup>(2)</sup> | 8% |
| 2022<sup>(3)</sup> | $10.00 | $0.13 | $(1.53) | $(1.40) | $(0.01) | $– | $(0.01) | $– | $8.59 | (14.03)% | $29405 | 0.15%<sup>(1)</sup> | 0.35%<sup>(1)</sup> | 1.56%<sup>(2)</sup> | 9% |
| **Catholic Responsible Investments Magnus 60/40 Alpha Plus Fund** | **Catholic Responsible Investments Magnus 60/40 Alpha Plus Fund** | **Catholic Responsible Investments Magnus 60/40 Alpha Plus Fund** | **Catholic Responsible Investments Magnus 60/40 Alpha Plus Fund** | **Catholic Responsible Investments Magnus 60/40 Alpha Plus Fund** | **Catholic Responsible Investments Magnus 60/40 Alpha Plus Fund** | **Catholic Responsible Investments Magnus 60/40 Alpha Plus Fund** | **Catholic Responsible Investments Magnus 60/40 Alpha Plus Fund** | **Catholic Responsible Investments Magnus 60/40 Alpha Plus Fund** | **Catholic Responsible Investments Magnus 60/40 Alpha Plus Fund** | **Catholic Responsible Investments Magnus 60/40 Alpha Plus Fund** | **Catholic Responsible Investments Magnus 60/40 Alpha Plus Fund** | **Catholic Responsible Investments Magnus 60/40 Alpha Plus Fund** | **Catholic Responsible Investments Magnus 60/40 Alpha Plus Fund** | **Catholic Responsible Investments Magnus 60/40 Alpha Plus Fund** | **Catholic Responsible Investments Magnus 60/40 Alpha Plus Fund** |
| **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** |
| 2025 | $10.57 | $0.26 | $1.14 | $1.40 | $(0.26) | $(0.10) | $(0.36) | $– | $11.61 | 13.64% | $1119227 | 0.02%<sup>(1)</sup> | 0.02%<sup>(1)</sup> | 2.41%<sup>(2)</sup> | 11% |
| 2024 | $8.80 | $0.24 | $1.74 | $1.98 | $(0.21) | $– | $(0.21) | $– | $10.57 | 22.77% | $1022035 | –%<sup>(1)</sup> | 0.02%<sup>(1)</sup> | 2.36%<sup>(2)</sup> | 8% |
| 2023 | $8.43 | $0.20 | $0.32 | $0.52 | $(0.15) | $– | $(0.15) | $– | $8.80 | 6.23% | $733461 | –%<sup>(1)</sup> | 0.02%<sup>(1)</sup> | 2.28%<sup>(2)</sup> | 4% |
| 2022<sup>(3)</sup> | $10.00 | $0.12 | $(1.68) | $(1.56) | $(0.01) | $– | $(0.01) | $– | $8.43 | (15.63)% | $702135 | –%<sup>(1)</sup> | 0.03%<sup>(1)</sup> | 1.75%<sup>(2)</sup> | 9% |
| **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** |
| 2025 | $10.56 | $0.24 | $1.14 | $1.38 | $(0.24) | $(0.10) | $(0.34) | $– | $11.60 | 13.47% | $414862 | 0.17%<sup>(1)</sup> | 0.17%<sup>(1)</sup> | 2.26%<sup>(2)</sup> | 11% |
| 2024 | $8.79 | $0.22 | $1.75 | $1.97 | $(0.20) | $– | $(0.20) | $– | $10.56 | 22.59% | $377764 | 0.15%<sup>(1)</sup> | 0.17%<sup>(1)</sup> | 2.21%<sup>(2)</sup> | 8% |
| 2023 | $8.42 | $0.19 | $0.31 | $0.50 | $(0.13) | $– | $(0.13) | $– | $8.79 | 6.07% | $313933 | 0.15%<sup>(1)</sup> | 0.17%<sup>(1)</sup> | 2.13%<sup>(2)</sup> | 4% |
| 2022<sup>(3)</sup> | $10.00 | $0.10 | $(1.67) | $(1.57) | $(0.01) | $– | $(0.01) | $– | $8.42 | (15.74)% | $296153 | 0.15%<sup>(1)</sup> | 0.18%<sup>(1)</sup> | 1.20%<sup>(2)</sup> | 9% |

---

\* *Per share data calculated using the average shares method.*

\*\* *See Note 2 in the Notes to Financial Statements.*

&nbsp;&nbsp;&nbsp;&nbsp;*†* *Total return is for the period indicated and has not been annualized if less than one year. Returns do not reflect the deduction of taxes the shareholder would pay on fund distributions or redemption of fund shares.* 

&nbsp;&nbsp;&nbsp;&nbsp;*(1)* *The Fund will also indirectly bear their prorated share of expenses of any underlying funds in which is invests. Such expenses are not included in the calculation of this ratio.* 

&nbsp;&nbsp;&nbsp;&nbsp;*(2)* *Net investment income ratios do not reflect the proportionate share of income and expenses of the underlying funds in which the fund invests.* 

&nbsp;&nbsp;&nbsp;&nbsp;*(3)* *Commenced operations on December 6, 2021. All ratios for the period have been annualized.* 

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS**

**OCTOBER 31, 2025**

**FINANCIAL HIGHLIGHTS**

**Selected Per Share Data & Ratios**

**For the Fiscal Years or Period Ended October 31, For A Share Outstanding Throughout the Years or Periods**

---

| | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Net Asset Value, Beginning of Year or Period | Net Investment Income\* | Net Realized and Unrealized Gain (Loss) | Total from Operations | Distributions from Net Investment Income | Distributions from Net Realized Capital Gains | Total Distributions | Redemption Fees\*\* | Net Asset Value, End of Year or Period | Total Return† | Net Assets, End of Year or Period (000) | Ratio of Expenses to Average Net Assets | Ratio of Expenses to Average Net Assets (excluding waivers) | Ratio of Net Investment Income to Average Net Assets | Portfolio Turnover Rate |
| **Catholic Responsible Investments Magnus 60/40 Beta Plus Fund** | **Catholic Responsible Investments Magnus 60/40 Beta Plus Fund** | **Catholic Responsible Investments Magnus 60/40 Beta Plus Fund** | **Catholic Responsible Investments Magnus 60/40 Beta Plus Fund** | **Catholic Responsible Investments Magnus 60/40 Beta Plus Fund** | **Catholic Responsible Investments Magnus 60/40 Beta Plus Fund** | **Catholic Responsible Investments Magnus 60/40 Beta Plus Fund** | **Catholic Responsible Investments Magnus 60/40 Beta Plus Fund** | **Catholic Responsible Investments Magnus 60/40 Beta Plus Fund** | **Catholic Responsible Investments Magnus 60/40 Beta Plus Fund** | **Catholic Responsible Investments Magnus 60/40 Beta Plus Fund** | **Catholic Responsible Investments Magnus 60/40 Beta Plus Fund** | **Catholic Responsible Investments Magnus 60/40 Beta Plus Fund** | **Catholic Responsible Investments Magnus 60/40 Beta Plus Fund** | **Catholic Responsible Investments Magnus 60/40 Beta Plus Fund** | **Catholic Responsible Investments Magnus 60/40 Beta Plus Fund** |
| **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** |
| 2025 | $10.75 | $0.28 | $1.21 | $1.49 | $(0.28) | $(0.06) | $(0.34) | $– | $11.90 | 14.21% | $493699 | 0.02%<sup>(1)</sup> | 0.04%<sup>(1)</sup> | 2.52%<sup>(2)</sup> | 12% |
| 2024 | $8.88 | $0.26 | $1.85 | $2.11 | $(0.24) | $– | $(0.24) | $– | $10.75 | 23.92% | $364271 | –%<sup>(1)</sup> | 0.03%<sup>(1)</sup> | 2.53%<sup>(2)</sup> | 11% |
| 2023 | $8.55 | $0.23 | $0.27 | $0.50 | $(0.17) | $– | $(0.17) | $– | $8.88 | 5.99% | $290585 | –%<sup>(1)</sup> | 0.04%<sup>(1)</sup> | 2.52%<sup>(2)</sup> | 8% |
| 2022<sup>(3)</sup> | $10.00 | $0.15 | $(1.59) | $(1.44) | $(0.01) | $– | $(0.01) | $– | $8.55 | (14.42)% | $274863 | –%<sup>(1)</sup> | 0.06%<sup>(1)</sup> | 1.82%<sup>(2)</sup> | 5% |
| **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** |
| 2025 | $10.74 | $0.27 | $1.20 | $1.47 | $(0.26) | $(0.06) | $(0.32) | $– | $11.89 | 14.03% | $177181 | 0.17%<sup>(1)</sup> | 0.19%<sup>(1)</sup> | 2.44%<sup>(2)</sup> | 12% |
| 2024 | $8.88 | $0.24 | $1.84 | $2.08 | $(0.22) | $– | $(0.22) | $– | $10.74 | 23.74% | $104898 | 0.15%<sup>(1)</sup> | 0.18%<sup>(1)</sup> | 2.36%<sup>(2)</sup> | 11% |
| 2023 | $8.53 | $0.21 | $0.29 | $0.50 | $(0.15) | $– | $(0.15) | $– | $8.88 | 5.84% | $115105 | 0.15%<sup>(1)</sup> | 0.19%<sup>(1)</sup> | 2.37%<sup>(2)</sup> | 8% |
| 2022<sup>(3)</sup> | $10.00 | $0.12 | $(1.58) | $(1.46) | $(0.01) | $– | $(0.01) | $– | $8.53 | (14.63)% | $112716 | 0.15%<sup>(1)</sup> | 0.21%<sup>(1)</sup> | 1.47%<sup>(2)</sup> | 5% |
| **Catholic Responsible Investments Magnus 75/25 Fund** | **Catholic Responsible Investments Magnus 75/25 Fund** | **Catholic Responsible Investments Magnus 75/25 Fund** | **Catholic Responsible Investments Magnus 75/25 Fund** | **Catholic Responsible Investments Magnus 75/25 Fund** | **Catholic Responsible Investments Magnus 75/25 Fund** | **Catholic Responsible Investments Magnus 75/25 Fund** | **Catholic Responsible Investments Magnus 75/25 Fund** | **Catholic Responsible Investments Magnus 75/25 Fund** | **Catholic Responsible Investments Magnus 75/25 Fund** | **Catholic Responsible Investments Magnus 75/25 Fund** | **Catholic Responsible Investments Magnus 75/25 Fund** | **Catholic Responsible Investments Magnus 75/25 Fund** | **Catholic Responsible Investments Magnus 75/25 Fund** | **Catholic Responsible Investments Magnus 75/25 Fund** | **Catholic Responsible Investments Magnus 75/25 Fund** |
| **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** | **Institutional Shares** |
| 2025 | $10.87 | $0.22 | $1.45 | $1.67 | $(0.25) | $(0.04) | $(0.29) | $– | $12.25 | 15.79% | $124127 | 0.02%<sup>(1)</sup> | 0.07%<sup>(1)</sup> | 1.97%<sup>(2)</sup> | 18% |
| 2024 | $8.76 | $0.20 | $2.12 | $2.32 | $(0.19) | $(0.02) | $(0.21) | $– | $10.87 | 26.69% | $298182 | –%<sup>(1)</sup> | 0.06%<sup>(1)</sup> | 1.99%<sup>(2)</sup> | 7% |
| 2023 | $8.40 | $0.18 | $0.40 | $0.58 | $(0.14) | $(0.08) | $(0.22) | $– | $8.76 | 7.09% | $219190 | –%<sup>(1)</sup> | 0.07%<sup>(1)</sup> | 2.05%<sup>(2)</sup> | 5% |
| 2022<sup>(3)</sup> | $10.00 | $0.12 | $(1.71) | $(1.59) | $(0.01) | $– | $(0.01) | $– | $8.40 | (15.94)% | $188299 | –%<sup>(1)</sup> | 0.08%<sup>(1)</sup> | 1.40%<sup>(2)</sup> | 5% |
| **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** | **Investor Shares** |
| 2025 | $10.85 | $0.20 | $1.46 | $1.66 | $(0.24) | $(0.04) | $(0.28) | $– | $12.23 | 15.59% | $47260 | 0.17%<sup>(1)</sup> | 0.22%<sup>(1)</sup> | 1.81%<sup>(2)</sup> | 18% |
| 2024 | $8.75 | $0.18 | $2.12 | $2.30 | $(0.18) | $(0.02) | $(0.20) | $– | $10.85 | 26.53% | $41148 | 0.15%<sup>(1)</sup> | 0.21%<sup>(1)</sup> | 1.78%<sup>(2)</sup> | 7% |
| 2023 | $8.38 | $0.17 | $0.41 | $0.58 | $(0.13) | $(0.08) | $(0.21) | $– | $8.75 | 6.92% | $34523 | 0.15%<sup>(1)</sup> | 0.22%<sup>(1)</sup> | 1.88%<sup>(2)</sup> | 5% |
| 2022<sup>(3)</sup> | $10.00 | $0.10 | $(1.71) | $(1.61) | $(0.01) | $– | $(0.01) | $– | $8.38 | (16.15)% | $31925 | 0.15%<sup>(1)</sup> | 0.23%<sup>(1)</sup> | 1.23%<sup>(2)</sup> | 5% |

---

\* *Per share data calculated using the average shares method.*

\*\* *See Note 2 in the Notes to Financial Statements.*

&nbsp;&nbsp;&nbsp;&nbsp;*†* *Total return is for the period indicated and has not been annualized if less than one year. Returns do not reflect the deduction of taxes the shareholder would pay on fund distributions or redemption of fund shares.* 

&nbsp;&nbsp;&nbsp;&nbsp;*(1)* *The Fund will also indirectly bear their prorated share of expenses of any underlying funds in which is invests. Such expenses are not included in the calculation of this ratio.* 

&nbsp;&nbsp;&nbsp;&nbsp;*(2)* *Net investment income ratios do not reflect the proportionate share of income and expenses of the underlying funds in which the fund invests.* 

&nbsp;&nbsp;&nbsp;&nbsp;*(3)* *Commenced operations on December 6, 2021. All ratios for the period have been annualized.* 

*The accompanying notes are an integral part of the financial statements.*

**CATHOLIC RESPONSIBLE INVESTMENTS**

**OCTOBER 31, 2025**

**NOTES TO FINANCIAL STATEMENTS**

**1. Organization:**

Catholic Responsible Investments Funds (the "Trust") is an open-end management investment company that currently offers shares of thirteen active separate diversified portfolios: the Catholic Responsible Investments Ultra Short Bond Fund, Catholic Responsible Investments Short Duration Bond Fund, Catholic Responsible Investments Bond Fund, Catholic Responsible Investments Opportunistic Bond Fund, Catholic Responsible Investments Equity Index Fund, Catholic Responsible Investments Small-Cap Fund, Catholic Responsible Investments Multi-Style US Equity Fund, Catholic Responsible Investments International Equity Fund, Catholic Responsible Investments International Small-Cap Fund, Catholic Responsible Investments Magnus 45/55 Fund, Catholic Responsible Investments Magnus 60/40 Alpha Plus Fund, Catholic Responsible Investments Magnus 60/40 Beta Plus Fund, and Catholic Responsible Investments Magnus 75/25 Fund (each, a "Fund" and together, the "Funds"). The Trust was established as a Delaware statutory trust pursuant to an Agreement and Declaration of Trust dated July 8, 2021 and amended and restated November 17, 2021 (the "Declaration of Trust"). The Declaration of Trust permits the Trust to offer separate series ("portfolios") of units of beneficial interest ("shares") and separate classes of shares of such portfolios. Each share of each portfolio represents an equal proportionate interest in that portfolio with each other share of that portfolio. The Funds are successors to the funds of the Catholic United Investment Trust (the "Predecessor Funds"). The Predecessor Funds were managed by Christian Brothers Investment Services, Inc. ("CBIS," or, the "Adviser") using investment objectives, strategies, policies and restrictions that were in all material respects equivalent to those used in managing the Funds. The Predecessor Funds dissolved and reorganized into the Investor Shares and Institutional Shares of each Fund on December 6, 2021. All of the assets of the Predecessor Funds were transferred to the Funds in connection with the reorganization.

The investment objective of the Catholic Responsible Investments Ultra Short Bond Fund seeks to provide current income consistent with the preservation of capital.

The investment objective of the Catholic Responsible Investments Short Duration Bond Fund seeks maximum current income consistent with the preservation of capital.

The investment objective of the Catholic Responsible Investments Bond Fund seeks current income and long-term capital appreciation.

The investment objective of the Catholic Responsible Investments Opportunistic Bond Fund seeks current income and to provide relatively low correlation to equity assets.

The investment objective of the Catholic Responsible Investments Equity Index Fund seeks to replicate as closely as possible, before expenses, the performance of the S&P 500<sup>®</sup> Index.

The investment objective of the Catholic Responsible Investments Small-Cap Fund seeks to replicate the performance of the S&P SmallCap 600<sup>®</sup> Index, an index representing small capitalization companies.

The investment objective of the Catholic Responsible Investments Multi-Style US Equity Fund seeks to achieve long-term capital appreciation.

The investment objective of the Catholic Responsible Investments International Equity Fund seeks to achieve long-term capital appreciation.

The investment objective of the Catholic Responsible Investments International Small-Cap Fund seeks to achieve long-term capital appreciation.

The investment objective of each of the Catholic Responsible Investments Magnus 45/55 Fund, Catholic Responsible Investments Magnus 60/40 Alpha Plus Fund, Catholic Responsible Investments Magnus 60/40 Beta Plus Fund and Catholic Responsible Investments Magnus 75/25 Fund (together, the "Magnus Funds") seeks to achieve current income and long-term capital appreciation by investing in other Catholic Responsible Investments Funds mutual funds (the "Underlying Funds").

**CATHOLIC RESPONSIBLE INVESTMENTS**

**OCTOBER 31, 2025**

Each Fund's investment objective is not a fundamental policy and may be changed by the Funds' Board of Trustees (the "Board") without shareholder approval.

**2. Significant Accounting Policies:**

The accompanying financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America ("U.S. GAAP") and are presented in U.S. dollars which is the functional currency of the Funds. Each Fund is an investment company and therefore applies the accounting and reporting guidance issued by the U.S. Financial Accounting Standards Board ("FASB") in Accounting Standards Codification ("ASC") Topic 946, Financial Services -- Investment Companies. The following are significant accounting policies which are consistently followed in the preparation of the financial statements.

*Use of Estimates* — The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amount of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting year. Actual results could differ from those estimates and such differences could be material.

*Security Valuation* — The Funds record their investments at fair valuing using the following methodologies. Securities listed on a securities exchange, market or automated quotation system for which quotations are readily available (except for securities traded on the NASDAQ Stock Market (the "NASDAQ")), including securities traded over the counter, are valued at the last quoted sale price on an exchange or market (foreign or domestic) on which they are traded on valuation date (or at approximately 4:00 pm ET if a security's primary exchange is normally open at that time), or, if there is no such reported sale on the valuation date, at the most recent quoted bid price. For securities traded on NASDAQ, the NASDAQ Official Closing Price will be used. If available, debt securities are priced based upon valuations provided by independent, third-party pricing agents. Such values generally reflect the last reported sales price if the security is actively traded. The third-party pricing agents may also value debt securities at an evaluated bid price by employing methodologies that utilize actual market transactions, broker-supplied valuations, or other methodologies designed to identify the market value for such securities. Such methodologies generally consider such factors as security prices, yields, maturities, call features, ratings and developments relating to specific securities in arriving at valuations. On the first day a new debt security purchase is recorded, if a price is not available on the automated pricing feeds from our primary and secondary pricing vendors nor is it available from an independent broker, the security may be valued at its purchase price. Each day thereafter, the debt security will be valued according to the Trusts' Fair Value Procedures until an independent source can be secured. Debt obligations with remaining maturities of sixty days or less may be valued at their amortized cost, which approximates market value provided that it is determined the amortized cost continues to approximate fair value. Should existing credit, liquidity or interest rate conditions in the relevant markets and issuer specific circumstances suggest that amortized cost does not approximate fair value, then the amortized cost method may not be used. The prices for foreign securities are reported in local currency and converted to U.S. dollars using currency exchange rates. Futures are valued at the final settled price or in lieu of a settled price at the last sale price on the day of valuation. Securities of investment companies that are not exchange-traded (e.g., open-end mutual funds) are valued using such company's end-of-business-day net asset value per share. Repurchase agreements are valued using the repurchase price to be paid.

For securities that principally trade on a foreign market or exchange, a significant gap in time can exist between the time of a particular security's last trade and the time at which a Fund calculates its net asset value. The closing prices of such securities may no longer reflect their market value at the time a Fund calculates net asset value if an event that could materially affect the value of those securities (a "Significant Event") has occurred between the time of the security's last close and the time that a Fund calculates net asset value. A Significant Event may relate to a single issuer or to an entire market sector. If the Trust's Board of Trustees (the "Board") becomes aware of a Significant Event that has occurred with respect to a security or group of securities after the closing of the exchange or market on which the security or securities principally trade, but before the time at which a Fund calculates net asset value, it may request that a Fair Value Committee (the "Committee") meeting be called.

**CATHOLIC RESPONSIBLE INVESTMENTS**

**OCTOBER 31, 2025**

Securities for which market prices are not "readily available" are valued in accordance with fair value procedures (the "Fair Value Procedures") established by the Adviser and approved by the Board. Pursuant to Rule 2a-5 under the 1940 Act, the Board has designated the Adviser as the "valuation designee" to determine the fair value of securities and other instruments for which no readily available market quotations are available. The Fair Value Procedures are implemented through a Committee of the Adviser.

In accordance with the authoritative guidance on fair value measurements and disclosure under U.S. GAAP, the Funds disclose the fair value of their investments in a hierarchy that prioritizes the inputs to valuation techniques used to measure the fair value. The objective of a fair value measurement is to determine the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (an exit price). Accordingly, the fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The three levels of the fair value hierarchy under ASC 820 are described below:

Level 1 — Unadjusted quoted prices in active markets for identical, unrestricted assets or liabilities that the Funds have the ability to access at the measurement date;

Level 2 — Other significant observable inputs (includes quoted prices for similar securities, interest rates, prepayment speeds, credit risk, referenced indices, quoted prices in inactive markets, adjusted quoted prices in active markets, adjusted quoted prices on foreign equity securities that were adjusted in accordance with the Adviser's pricing procedures, etc.)

Level 3 — Significant unobservable prices or inputs (including the Fund's own assumptions in determining the fair value of investments) where there is little or no market activity for the asset or liability at the measurement date.

Investments are classified within the level of the lowest significant input considered in determining fair value. Investments classified within Level 3 whose fair value measurement considers several inputs may include Level 1 or Level 2 inputs as components of the overall fair value measurement.

The unobservable inputs used to determine fair value of recurring Level 3 assets may have similar or diverging impacts on valuation. Significant increases and decreases in these inputs in isolation and interrelationships between those inputs could result in significantly higher or lower fair value measurement.

For the year ended October 31, 2025, there have been no significant changes to the Funds' fair value methodologies.

*Federal Income Taxes* — It is each Fund's intention to continue to qualify as a regulated investment company for Federal income tax purposes by complying with the appropriate provisions of Subchapter M of the Internal Revenue Code of 1986, as amended, and to distribute substantially all of its income to shareholders. Accordingly, no provision for Federal income taxes has been made in the financial statements.

The Funds evaluate tax positions taken or expected to be taken in the course of preparing the Funds' tax returns to determine whether it is "more likely- than-not" (i.e., greater than 50-percent) that each tax position will be sustained upon examination by a taxing authority based on the technical merits of the position. Tax positions deemed to meet the more-likely-than-not threshold are recorded as a tax benefit in the current year. The Funds did not record any tax provision in the current year. However, management's conclusions regarding tax positions taken may be subject to review and adjustment at a later date based on factors including, but not limited to, examination by tax authorities (i.e., the open tax year ends, since inception), on-going analysis of and changes to tax laws, regulations and interpretations thereof.

As of and during the year ended October 31, 2025, the Funds did not have a liability for any unrecognized tax benefits. The Funds recognize interest and penalties, if any, related to unrecognized tax benefits as income tax expense in the Statements of Operations. During the year the Funds did not incur any interest or penalties.

**CATHOLIC RESPONSIBLE INVESTMENTS**

**OCTOBER 31, 2025**

Withholding taxes on foreign dividends have been provided for in accordance with the Funds' understanding of the applicable country's tax rules and rates. The Funds or their agent files withholding tax reclaims in certain jurisdictions to recover certain amounts previously withheld. The Funds may record a reclaim receivable based on collectability, which includes factors such as the jurisdiction's applicable laws, payment history and market convention. Professional fees paid to those that provide assistance in receiving the tax reclaims, which generally are contingent upon successful receipt of reclaimed amounts, are recorded in Professional Fees on the Statements of Operations, if applicable, once the amounts are due. The professional fees related to pursuing these tax reclaims are not subject to the Adviser's expense limitation agreement.

*Foreign Taxes* — The Funds may be subject to taxes imposed by countries in which they invest. Such taxes are generally based on either income or gains earned or repatriated. The Funds accrue and apply such taxes to net investment income, net realized gains and net unrealized appreciation as income and/or capital gains are earned. For the year ended October 31, 2025, the Catholic Responsible Investments International Equity Fund and the Catholic Responsible Investments International Small-Cap Fund have accrued foreign tax in the amount of $991,930 and $159,974, respectively, presented on the Statements of Assets and Liabilities.

*Security Transactions and Investment Income* — Security transactions are accounted for on trade date for financial reporting purposes. Dividend income is recorded on the ex-dividend date and interest income is recognized on the accrual basis. Costs used in determining realized gains and losses on the sales of investment securities are based on specific identification. Interest income is recognized on an accrual basis from settlement date. Discounts and premiums on securities purchased are accreted and amortized using the effective interest method. Realized gains (losses) on paydowns of mortgage-backed and asset-backed securities are recorded as an adjustment to interest income.

*Futures Contracts* — A futures contract is an agreement involving the delivery of a particular asset on a specified future date at an agreed upon price. The Funds may invest in exchange traded futures. These contracts are generally used to provide the return of a type of security without purchasing the securities of the underlying futures contract or to manage the Fund's overall exposure to the market risk of the fixed income and equity markets. Upon entering into futures contracts, the Fund maintains an amount of cash or liquid securities, with a value equal to a percentage of the contract amount, with either a futures commission merchant or with its custodian in an account in the broker's name. This amount is known as initial margin. During the year, the futures contract is open, payments are received from or made to the broker based upon the changes in the value of the contract (the variation margin).

A margin deposit held at one counterparty for the futures contracts is included in "Cash pledged as Collateral for Futures Contracts" on the Statements of Assets and Liabilities and would be noted on the Schedule of Investments, if applicable. Variation margin payments are paid or received, depending upon whether unrealized gains or losses are incurred. When the futures contract is closed, the Fund records a realized gain or loss equal to the difference between the proceeds from (or cost of) the closing transaction and the amount invested in the futures contract.

For the year ended October 31, 2025, the quarterly average notional value of futures contracts held was as follows (000):

---

| | |
|:---|:---|
| **Catholic Responsible Investments Short Duration Bond Fund** | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Average Quarterly Notional Value Long | $54419 |
| **Catholic Responsible Investments Bond Fund** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Average Quarterly Notional Value Long | $129359 |
| **Catholic Responsible Investments Opportunistic Bond Fund** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Average Quarterly Notional Value Long | $15979 |
| **Catholic Responsible Investments Equity Index Fund** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Average Quarterly Notional Value Long | $10697 |
| **Catholic Responsible Investments Small-Cap Fund** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Average Quarterly Notional Value Long | $2768 |
| **Catholic Responsible Investments International Small-Cap Fund** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Average Quarterly Notional Value Long | $3933 |

---

**CATHOLIC RESPONSIBLE INVESTMENTS**

**OCTOBER 31, 2025**

The following tables are the exposure by type of risk on derivatives held throughout the year:

---

| | | | |
|:---|:---|:---|:---|
| **Catholic Responsible Investments Short Duration Bond Fund**<br> Statements of Assets and Liabilities Location | **Catholic Responsible Investments Short Duration Bond Fund**<br> Statements of Assets and Liabilities Location | **Asset <br> Derivatives** | **Liability <br> Derivatives** |
| Interest Risk<br> Futures contracts | Unrealized appreciation (depreciation)<br> on futures contracts\* | $106253 | $(51491) |
|  |  | $106253 | $(51491) |

---

---

| | | | |
|:---|:---|:---|:---|
| **Catholic Responsible Investments Bond Fund**<br> Statements of Assets and Liabilities Location | **Catholic Responsible Investments Bond Fund**<br> Statements of Assets and Liabilities Location | **Asset <br> Derivatives** | **Liability <br> Derivatives** |
| Interest Risk<br> Futures contracts | Unrealized appreciation (depreciation)<br> on futures contracts\* | $1226543 | $&nbsp;&nbsp;&nbsp;&nbsp; — |
|  |  | $1226543 | $— |

---

---

| | | | |
|:---|:---|:---|:---|
| **Catholic Responsible Investments Opportunistic Bond Fund**<br> Statements of Assets and Liabilities Location | **Catholic Responsible Investments Opportunistic Bond Fund**<br> Statements of Assets and Liabilities Location | **Asset <br> Derivatives** | **Liability <br> Derivatives** |
| Interest Risk<br> Futures contracts | Unrealized appreciation (depreciation)<br> on futures contracts\* | $&nbsp;&nbsp;&nbsp;&nbsp; — | $(4506) |
|  |  | $— | $(4506) |

---

---

| | | | |
|:---|:---|:---|:---|
| **Catholic Responsible Investments Equity Index Fund**<br> Statements of Assets and Liabilities Location | **Catholic Responsible Investments Equity Index Fund**<br> Statements of Assets and Liabilities Location | **Asset <br> Derivatives** | **Liability <br> Derivatives** |
| Equity Risk<br> Futures contracts | Unrealized appreciation (depreciation)<br> on futures contracts\* | $2950 | $&nbsp;&nbsp;&nbsp;&nbsp; — |
|  |  | $2950 | $— |

---

---

| | | | |
|:---|:---|:---|:---|
| **Catholic Responsible Investments Small-Cap Fund**<br> Statements of Assets and Liabilities Location | **Catholic Responsible Investments Small-Cap Fund**<br> Statements of Assets and Liabilities Location | **Asset <br> Derivatives** | **Liability <br> Derivatives** |
| Equity Risk<br> Futures contracts | Unrealized appreciation (depreciation)<br> on futures contracts\* | $116520 | $&nbsp;&nbsp;&nbsp;&nbsp; — |
|  |  | $116520 | $— |

---

---

| | | | |
|:---|:---|:---|:---|
| **Catholic Responsible Investments International Small-Cap Fund**<br> Statements of Assets and Liabilities Location | **Catholic Responsible Investments International Small-Cap Fund**<br> Statements of Assets and Liabilities Location | **Asset<br> Derivatives** | **Liability<br> Derivatives** |
| Currency Risk<br> Futures contracts | Unrealized appreciation (depreciation)<br> on futures contracts\* | $— | $(2246) |
| Equity Risk<br> Futures contracts | Unrealized appreciation (depreciation)<br> on futures contracts\* | 35976 | (552) |
|  |  | $35976 | $(2798) |

---

\* Unrealized appreciation (depreciation) on Futures Contracts is included in distributable earnings (accumulated losses).

**CATHOLIC RESPONSIBLE INVESTMENTS**

**OCTOBER 31, 2025**

The effect of derivative instruments on the Statements of Operations for the year ended October 31, 2025, was as follows:

---

| | | |
|:---|:---|:---|
| **Catholic Responsible Investments Short Duration Bond Fund** | **Net Realized Gain (Loss)\*** | **Change in Unrealized Appreciation (Depreciation)\*\*** |
| Interest Risk<br> Futures contracts | $(670092) | $521734 |
|  | $(670092) | $521734 |

---

---

| | | |
|:---|:---|:---|
| **Catholic Responsible Investments Bond Fund** | **Net Realized Gain (Loss)\*** | **Change in Unrealized Appreciation (Depreciation)\*\*** |
| Interest Risk<br> Futures contracts | $(978358) | $4737653 |
|  | $(978358) | $4737653 |

---

---

| | | |
|:---|:---|:---|
| **Catholic Responsible Investments Opportunistic Bond Fund** | **Net Realized Gain (Loss)\*** | **Change in Unrealized Appreciation (Depreciation)\*\*** |
| Interest Risk<br> Futures contracts | $(1868479) | $1050372 |
|  | $(1868479) | $1050372 |

---

---

| | | |
|:---|:---|:---|
| **Catholic Responsible Investments Equity Index Fund** | **Net Realized Gain (Loss)\*** | **Change in Unrealized Appreciation (Depreciation)\*\*** |
| Equity Risk<br> Futures contracts | $1462928 | $127450 |
|  | $1462928 | $127450 |

---

---

| | | |
|:---|:---|:---|
| **Catholic Responsible Investments Small-Cap Fund** | **Net Realized Gain (Loss)\*** | **Change in Unrealized Appreciation (Depreciation)\*\*** |
| Equity Risk<br> Futures contracts | $527098 | $114160 |
|  | $527098 | $114160 |

---

**CATHOLIC RESPONSIBLE INVESTMENTS**

**OCTOBER 31, 2025**

---

| | | |
|:---|:---|:---|
| **Catholic Responsible Investments International Small-Cap Fund** | **Net Realized Gain (Loss)\*** | **Change in Unrealized Appreciation (Depreciation)\*\*** |
| Currency Risk<br> Futures contracts | $(24536 | $(2246 |
|  | | |
| Equity Risk<br> Futures contracts | 420727 | 167572 |
|  | $396191 | $165326 |

---

\* Futures contracts are included in net realized gain (loss) on Futures Contracts.

\*\* Futures contracts are included in change in net unrealized appreciation (depreciation) on Futures Contracts.

*Cash and Cash Equivalents* — Idle cash may be swept into various time deposit accounts and money market sweep accounts and is classified as cash on the Statements of Assets and Liabilities. The Funds maintain cash in bank deposit accounts which, at times, may exceed United States federally insured limits. Amounts invested are available on the same business day.

*Foreign Currency Translation* — The books and records of the Funds are maintained in U.S. dollars. Investment securities and other assets and liabilities denominated in a foreign currency are translated into U.S. dollars on the date of valuation. The Funds do not isolate that portion of realized or unrealized gains and losses resulting from changes in the foreign exchange rate from fluctuations arising from changes in the market prices of the securities. These gains and losses are included in net realized and gains and losses on investments and net change in unrealized appreciation (depreciation) on investments on the Statements of Operations. Net realized and unrealized gains and losses on foreign currency transactions represent net foreign exchange gains or losses from foreign currency exchange contracts, disposition of foreign currencies, currency gains or losses realized between trade and settlement dates on securities transactions and the difference between the amount of the investment income and foreign withholding taxes recorded on the Funds' books and the U.S. dollar equivalent amounts actually received or paid.

*Expenses* — Expenses of the Trust that can be directly attributed to a particular Fund are borne by that Fund. Expenses which cannot be directly attributed to a Fund are apportioned among the Funds of the Trust based on the number of funds and/or relative net assets.

Classes — Class specific expenses are borne by that class of shares. Income, realized and unrealized gains/losses and non class-specific expenses are allocated to the respective class on the basis of relative daily net assets.

*Dividends and Distributions to Shareholders* —The Catholic Responsible Investments Ultra Short Bond Fund, Catholic Responsible Investments Short Duration Bond Fund, Catholic Responsible Investments Bond Fund and Catholic Responsible Investments Opportunistic Bond Fund distribute their net investment income monthly and make distributions of their net realized capital gains, if any, at least annually. The Catholic Responsible Investments Equity Index Fund, Catholic Responsible Investments Small-Cap Fund, Catholic Responsible Investments Multi-Style US Equity Fund, Catholic Responsible Investments International Equity Fund and Catholic Responsible Investments International Small-Cap Fund distribute their net investment income quarterly and make distributions or their net realized capital gains, if any, at least annually. The Catholic Responsible Investments Magnus 45/55 Fund, Catholic Responsible Investments Magnus 60/40 Alpha Plus Fund, Catholic Responsible Investments Magnus 60/40 Beta Plus Fund and Catholic Responsible Investments Magnus 75/25 Fund distribute their net investment income and make distributions of their net realized capital gains, if any, at least annually. All distributions are recorded on ex-dividend date.

*Investments in REITs* — Dividend income from Real Estate Investment Trusts ("REIT") is recorded based on the income included in distributions received from the REIT investments using published REIT reclassifications, including some management estimates when actual amounts are not available. Distributions received in excess of this estimated amount are recorded as a reduction of the cost of investments or reclassified to capital gains. The actual amounts of income, return of capital, and capital gains are only determined by each REIT after its fiscal year-end, and may differ from the estimated amounts.

**CATHOLIC RESPONSIBLE INVESTMENTS**

**OCTOBER 31, 2025**

*Redemption Fees* — A redemption fee of 2.00% of the value of the shares sold will be imposed on shares of the Catholic Responsible Investments Opportunistic Bond Fund, Catholic Responsible Investments Bond Fund, Catholic Responsible Investments Equity Index Fund, Catholic Responsible Investments Multi-Style US Equity Fund, Catholic Responsible Investments International Equity Fund, Catholic Responsible Investments Small-Cap Fund and Catholic Responsible Investments International Small-Cap Fund redeemed within 30 days or less after their date of purchase (subject to certain exceptions as discussed below in "Redemption Fees"). Such fees are retained by the Funds for the benefit of the remaining shareholders and are recorded as additions to fund capital.

*Securities Lending* — Each Fund may lend portfolio securities to brokers, dealers and other financial organizations that meet capital and other credit requirements or other criteria established by the Board. These loans, if and when made, may not exceed 33 <sup>1</sup>⁄3% of the total asset value of the Fund (including the loan collateral). Each Fund will not lend portfolio securities to its Adviser or its affiliates unless it has applied for and received specific authority to do so from the SEC. Loans of portfolio securities will be fully collateralized by cash, letters of credit or U.S. Government securities, and the collateral will be maintained in an amount equal to at least 100% of the current market value of the loaned securities by marking to market daily, although the borrower will be required to deliver collateral of 102% and 105% of the market value of borrowed securities for domestic and foreign issuers, respectively. Any gain or loss in the market price of the securities loaned that might occur during the term of the loan would be for the account of the Fund. The investment of cash collateral subjects a Fund to market risk. A Fund remains obligated to return all collateral to the borrower under the terms of its securities lending arrangements even if the value of the investments made with the collateral has declined. Accordingly, if the value of a security in which the cash collateral has been invested declines, the loss would be borne by the Fund, and the Fund may be required to liquidate other investments in order to return collateral to the borrower at the end of a loan. Income from securities lending is determined by the amount of interest earned on collateral, net of any rebate and securities lending agent fees. The following table discloses the securities on loan as of October 31, 2025:

---

| | | |
|:---|:---|:---|
|  | **Market Value Securities on Loan** | **Cash Collateral for Securities on Loan** |
| Catholic Responsible Investments Short Duration Bond Fund | $1064855 | $1087515 |
| Catholic Responsible Investments Bond Fund | 11652089 | 11907264 |
| Catholic Responsible Investments Opportunistic Bond Fund | 3510005 | 3582206 |
| Catholic Responsible Investments Equity Index Fund | 378445 | 391664 |
| Catholic Responsible Investments Small-Cap Fund | 4037691 | 4157572 |
| Catholic Responsible Investments Multi-Style US Equity Fund | 20136 | 20625 |
| Catholic Responsible Investments International Equity Fund | 2582850 | 2675798 |
| Catholic Responsible Investments International Small Cap Fund | 79751 | 81500 |

---

*Repurchase Agreements* — A repurchase agreement is an agreement in which one party sells securities to another party in return for cash with an agreement to repurchase equivalent securities at an agreed-upon price and on an agreed-upon future date. A Fund may enter into repurchase agreements with financial institutions and follow certain procedures designed to minimize the risks inherent in such agreements. These procedures include effecting repurchase transactions only with large, well-capitalized and well-established financial institutions deemed creditworthy by the Adviser. The repurchase agreements entered into by a Fund will provide that the underlying collateral shall have a value equal to at least 102% of the resale price stated in the agreement at all times. The Adviser monitors compliance with this requirement as well as the ongoing financial condition and creditworthiness of the counterparty. Under all repurchase agreements entered into by a Fund, the Fund's custodian or its agent must take possession of the underlying collateral. In the event of a default or bankruptcy by a selling financial institution, a Fund will seek to liquidate such collateral. However, the exercising of each Fund's right to liquidate such collateral could involve certain costs or delays and, to the extent that proceeds from any sale upon a default of the obligation to repurchase were less than the repurchase price, the Fund could suffer a loss. At times, the investments of each of the Funds in repurchase agreements may be substantial when, in the view of the Adviser, liquidity or other considerations so warrant.

*Segment Reporting* — In this reporting period, the Funds adopted the Financial Accounting Standards Board ("FASB") Accounting Standards Update ("ASU") 2023-07, Segment Reporting (Topic 280) – "Improvements to Reportable Segment Disclosures" ("ASU 2023-07"). Adoption of the new standard impacted financial statement disclosures only and did not affect the Funds' financial position or the results of its operations. An operating segment is defined in Topic 280 as a component of a public entity that engages in business activities from which it may recognize revenues and incur expenses, has operating results that are regularly reviewed by the public entity's chief operating decision maker ("CODM") to make decisions about resources to be allocated to the segment and assess its performance, and has discrete financial information available. SIMC acts as the Funds' CODM. The CODM has determined that the Funds represent a single operating segment, as the CODM monitors the operating results of the Funds as a whole and the Funds' long-term strategic asset allocation is pre-determined in accordance with the terms of its prospectus, based on a defined investment strategy which is executed by the Funds' portfolio managers as a team. The financial information in the form of the Funds' schedules of investments, total returns, expense ratios and changes in net assets (i.e., changes in net assets resulting from operations, subscriptions and redemptions), which are used by the CODM to assess the segment's performance versus the Funds' comparative benchmarks and to make resource allocation decisions for the Funds' single segment, is consistent with that presented within the Funds' financial statements. Segment assets are reflected on the accompanying Statements of Assets and Liabilities as "Total Assets" and significant segment expenses are listed on the accompanying Statements of Operations.

**CATHOLIC RESPONSIBLE INVESTMENTS**

**OCTOBER 31, 2025**

**3. Transactions with Affiliates:**

Certain officers of the Trust are also employees of SEI Investments Global Funds Services (the "Administrator"), a wholly owned subsidiary of SEI Investments Company, and/or SEI Investments Distribution Co. (the "Distributor"). Such officers are paid no fees by the Trust, other than the Chief Compliance Officer ("CCO") as described below, for serving as officers of the Trust.

A portion of the services provided by the CCO and his staff, whom are employees of the Administrator, are paid for by the Trust as incurred. The services include regulatory oversight of the Trust's Advisors and service providers as required by SEC regulations. The CCO's services and fees have been approved by and are reviewed by the Board.

The Magnus Funds invest solely in underlying Catholic Responsible Investments Funds.

**4. Administration, Distribution, Shareholder Servicing, Transfer Agent and Custody Agreements:**

The Funds and the Administrator are parties to an Administration Agreement under which the Administrator provides management and administrative services to the Funds. For these services, the Administrator is paid an asset-based fee, which will vary depending on the number of share classes and the average daily net assets of the Funds.

For the year ended October 31, 2025, the Funds were charged the following for these services:

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| | |
|:---|:---|
|  | **Administration Fees** |
| Catholic Responsible Investments Ultra Short Bond Fund | $17008 |
| Catholic Responsible Investments Short Duration Bond Fund | 98364 |
| Catholic Responsible Investments Bond Fund | 457398 |
| Catholic Responsible Investments Opportunistic Bond Fund | 142426 |
| Catholic Responsible Investments Equity Index Fund | 792994 |
| Catholic Responsible Investments Small-Cap Fund | 104136 |
| Catholic Responsible Investments Multi-Style US Equity Fund | 161502 |
| Catholic Responsible Investments International Equity Fund | 359439 |
| Catholic Responsible Investments International Small-Cap Fund | 21085 |

---

The Trust and the Distributor are parties to a Distribution Agreement. The Distributor receives no fees under the agreement.

The Funds have adopted a shareholder servicing plan that provides that the Funds may pay financial intermediaries for shareholder services in an annual amount not to exceed 0.15% based on the average daily net assets of the Funds' Investor Shares. The Funds do not pay these service fees on shares purchased directly. In addition to payments made directly to financial intermediaries by the Funds, the Adviser or its affiliates may, at their own expense, pay financial intermediaries for these and other services to the Funds' shareholders. For the year ended October 31, 2025, these amounts can be found on the Statements of Operations under Shareholder Servicing Fees.

**CATHOLIC RESPONSIBLE INVESTMENTS**

**OCTOBER 31, 2025**

Atlantic Shareholder Services, LLC serves as the Transfer Agent and dividend disbursing agent for the Funds under a transfer agency agreement.

Brown Brothers Harriman & Co. serves as custodian (the "Custodian") for the Funds. The Custodian plays no role in determining the investment policies of the Funds or which securities are to be purchased and sold by the Funds.

**5. Investment Advisory and Sub-Advisory Agreements:**

The Trust and the Adviser have entered into an investment advisory agreement (the "Advisory Agreement"). Pursuant to the Advisory Agreement, the Adviser provides investment advisory services to the Funds and oversees the investment sub-advisory services provided to the Funds. Pursuant to separate sub-advisory agreements (the "Sub-Advisory Agreements" and, together with the Advisory Agreement, the "Investment Advisory Agreements") with the Adviser, and under the supervision of the Adviser and the Board, one or more Sub-Advisers are responsible for the day-to-day investment management of all or a distinct portion of the assets of the Funds. The Adviser pays each Fund's Sub-Advisers out of the fee it receives from such Fund.

After its initial two year term, the continuance of each Investment Advisory Agreement with respect to each Fund must be specifically approved at least annually: (i) by the vote of a majority of the outstanding voting securities of that Fund or by the Trustees; and (ii) by the vote of a majority of the Trustees who are not parties to such Investment Advisory Agreement or "interested persons" (as defined under the 1940 Act) of any party thereto, cast in person at a meeting called for the purpose of voting on such approval. The Advisory Agreement will terminate automatically in the event of its assignment and is terminable at any time without penalty by the Board or, with respect to a Fund, by a majority of the outstanding voting securities of that Fund, or by the Adviser on not less than 30 days' nor more than 60 days' written notice to the Trust. Each Sub-Advisory Agreement will terminate automatically in the event of its assignment or in the event of the termination of the Advisory Agreement and is terminable at any time without penalty by the Board or, with respect to a Fund, by a majority of the outstanding voting securities of that Fund, or by the Adviser or Sub-Adviser on not less than 30 days' nor more than 60 days' written notice to the other party.

For its services under the Advisory Agreement, the Adviser is entitled to a fee, which is calculated daily and paid monthly, at the following annual rates based on the average daily net assets of each Fund:

---

| | |
|:---|:---|
|  | **Advisory Fee** |
| Catholic Responsible Investments Ultra Short Bond Fund | 0.25% |
| Catholic Responsible Investments Short Duration Bond Fund | 0.30% |
| Catholic Responsible Investments Bond Fund | 0.30% |
| Catholic Responsible Investments Opportunistic Bond Fund | 0.35% |
| Catholic Responsible Investments Equity Index Fund | 0.06% |
| Catholic Responsible Investments Small-Cap Fund | 0.20% |
| Catholic Responsible Investments Multi-Style US Equity Fund | 0.60% |
| Catholic Responsible Investments International Equity Fund | 0.74% |
| Catholic Responsible Investments International Small-Cap Fund | 0.96% |
| Catholic Responsible Investments Magnus 45/55 Fund | 0.00% |
| Catholic Responsible Investments Magnus 60/40 Alpha Plus Fund | 0.00% |
| Catholic Responsible Investments Magnus 60/40 Beta Plus Fund | 0.00% |
| Catholic Responsible Investments Magnus 75/25 Fund | 0.00% |

---

The Magnus Funds do not pay an advisory fee due to the fact their sole investments are in underlying Catholic Responsible Investments Funds.

For each Fund, the Adviser has contractually agreed to waive fees and reimburse expenses to the extent necessary to keep the Fund's total annual Fund operating expenses (excluding shareholder servicing fees, interest, taxes, brokerage commissions and other costs and expenses relating to the securities that are purchased and sold by the Fund, dividend and interest expenses on securities sold short, acquired fund fees and expenses, fees and expenses incurred in connection with tax reclaim recovery services, other expenditures which are capitalized in accordance with U.S. GAAP, and other non-routine expenses (collectively, "excluded expenses")) for each of that Fund's share class(es) from exceeding certain levels as set forth below until February 28, 2026 (each, a "contractual expense limit").

**CATHOLIC RESPONSIBLE INVESTMENTS**

**OCTOBER 31, 2025**

In addition, the Adviser may receive from a Fund the difference between the total annual Fund operating expenses (not including excluded expenses) and the Fund's contractual expense limit to recoup all or a portion of its prior fee waivers or expense reimbursements made during the rolling three-year period preceding the date of the recoupment if at any point total annual Fund operating expenses (not including excluded expenses) are below the contractual expense limit (i) at the time of the fee waiver and/or expense reimbursement and (ii) at the time of the recoupment. This agreement may be terminated: (i) by the Board, for any reason at any time; or (ii) by the Adviser, upon ninety (90) days' prior written notice to the Trust, effective as of the close of business on February 28, 2026.

---

| | |
|:---|:---|
|  | **Contractual Expense Limit** |
| Catholic Responsible Investments Ultra Short Bond Fund | 0.35% |
| Catholic Responsible Investments Short Duration Bond Fund | 0.35% |
| Catholic Responsible Investments Bond Fund | 0.37% |
| Catholic Responsible Investments Opportunistic Bond Fund | 0.41% |
| Catholic Responsible Investments Equity Index Fund | 0.09% |
| Catholic Responsible Investments Small-Cap Fund | 0.31% |
| Catholic Responsible Investments Multi-Style US Equity Fund | 0.69% |
| Catholic Responsible Investments International Equity Fund | 0.84% |
| Catholic Responsible Investments International Small-Cap Fund | 1.15% |
| Catholic Responsible Investments Magnus 45/55 Fund | 0.03%\* |
| Catholic Responsible Investments Magnus 60/40 Alpha Plus Fund | 0.03%\* |
| Catholic Responsible Investments Magnus 60/40 Beta Plus Fund | 0.03%\* |
| Catholic Responsible Investments Magnus 75/25 Fund | 0.03%\* |

---

\* Prior to March 1, 2025, the contractual expense limit for the Catholic Responsible Investments Magnus 45/55 Fund, Catholic Responsible Investments Magnus 60/40 Beta Plus Fund, Catholic Responsible Investments Magnus 60/40 Alpha Plus Fund and Catholic Responsible Investments Magnus 75/25 Fund was 0.00%.

As of October 31, 2025, the Adviser may seek as reimbursement of previously reduced fees for the Funds as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Expiring 2026** | **Expiring 2027** | **Expiring 2028** | **Total** |
| Catholic Responsible Investments Ultra Short Bond Fund | $119892 | $120305 | $105757 | $345954 |
| Catholic Responsible Investments Short Duration Bond Fund | 108877 | 126787 | 131804 | 367468 |
| Catholic Responsible Investments Opportunistic Bond Fund | 135820 | 85697 | 99180 | 320697 |
| Catholic Responsible Investments Equity Index Fund | 646139 | 538451 | 673060 | 1857650 |
| Catholic Responsible Investments International Small-Cap Fund | 112207 | 167040 | 168823 | 448070 |
| Catholic Responsible Investments Magnus 45/55 Fund | 150449 | 139503 | 122248 | 412200 |
| Catholic Responsible Investments Magnus 60/40 Alpha Plus Fund | 233502 | 193808 | 66462 | 493772 |
| Catholic Responsible Investments Magnus 60/40 Beta Plus Fund | 181673 | 154264 | 100122 | 436059 |
| Catholic Responsible Investments Magnus 75/25 Fund | 182270 | 171834 | 120198 | 474302 |

---

During the year ended October 31, 2025, the Funds did not recapture any previously waived fees and/or reimbursed expenses.

The Adviser has entered into a sub-advisory agreement with each of its sub-advisers. Each sub-adviser makes investment decisions for the assets it has been allocated to manage. The Adviser oversees the sub-advisers for compliance with each Fund's investment objective, policies, strategies and restrictions, and monitors each sub-adviser's adherence to its investment style. The Board oversees the Adviser and the Sub-advisers, establishes policies that they must follow in their management activities, and oversees the hiring, termination, and replacement of Sub-advisers recommended by the Adviser. The Adviser has engaged Mercer Investments LLC ("Mercer") as the primary sub-adviser to each Fund. Mercer provides both sub-advisory and non-advisory services pursuant to a pair of agreements, each dated as of February 25, 2025. Under the sub-advisory agreement, Mercer assists the Adviser with the evaluation and selection of sub-advisers and the determination of portfolio allocations among such sub-advisers. Additionally, the Adviser has engaged the following sub-advisers to manage a portion of the assets of each Fund, as follows:

**CATHOLIC RESPONSIBLE INVESTMENTS**

**OCTOBER 31, 2025**

---

| | |
|:---|:---|
| **Fund** | **Sub-Adviser(s) managing a portion of Fund assets** |
| Catholic Responsible Investments Ultra Short Bond Fund | Wellington Management Company LLP |
| Catholic Responsible Investments Short Duration Bond Fund | Teachers Advisors, LLC <br> Wellington Management Company LLP |
| Catholic Responsible Investments Bond Fund | Brandywine Global Investment Management, LLC <br> Loomis, Sayles & Company, L.P. <br> Sun Life Capital Management (U.S.) LLC <br> Teachers Advisors, LLC |
| Catholic Responsible Investments Opportunistic Bond Fund | Brandywine Global Investment Management, LLC <br> Sun Life Capital Management (U.S.) LLC <br> Teachers Advisors, LLC |
| Catholic Responsible Investments Equity Index Fund | RhumbLine Advisers |
| Catholic Responsible Investments Small-Cap Fund | RhumbLine Advisers |
| Catholic Responsible Investments Multi-Style US Equity Fund | Boston Partners Global Investors, Inc. <br> Mar Vista Investment Partners, LLC <br> T. Rowe Price Associates, Inc. <br> William Blair Investment Management, LLC |
| Catholic Responsible Investments International Equity Fund | Causeway Capital Management LLC <br> Principal Global Investors, LLC <br> WCM Investment Management, LLC |
| Catholic Responsible Investments International Small-Cap Fund | Allspring Global Investments, LLC <br> Lazard Asset Management LLC <br> Parametric Portfolio Associates LLC |

---

**CATHOLIC RESPONSIBLE INVESTMENTS**

**OCTOBER 31, 2025**

**6. Investment Transactions:**

For the year ended October 31, 2025, the purchases and sales of investment securities other than short-term investments and in-kind transactions, if applicable, were as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | **U.S. Government** | **Other** | **Total** |
| Catholic Responsible Investments Ultra Short Bond Fund |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Purchases | $— | $17979967 | $17979967 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sales | 128833 | 15336796 | 15465629 |
| Catholic Responsible Investments Short Duration Bond Fund |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Purchases | 138519698 | 139929298 | 278448996 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sales | 110810319 | 132728322 | 243538641 |
| Catholic Responsible Investments Bond Fund |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Purchases | 1132042855 | 832456145 | 1964499000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sales | 1125661352 | 640205452 | 1765866804 |
| Catholic Responsible Investments Opportunistic Bond Fund |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Purchases | 770370907 | 163748344 | 934119251 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sales | 750362538 | 154843797 | 905206335 |
| Catholic Responsible Investments Equity Index Fund |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Purchases |  | 1062353485 | 1062353485 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sales |  | 1222873708 | 1222873708 |
| Catholic Responsible Investments Small-Cap Fund |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Purchases |  | 140039200 | 140039200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sales |  | 169885969 | 169885969 |
| Catholic Responsible Investments Multi-Style US Equity Fund |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Purchases |  | 324126129 | 324126129 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sales |  | 543154734 | 543154734 |
| Catholic Responsible Investments International Equity Fund |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Purchases |  | 1063129239 | 1063129239 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sales |  | 826779043 | 826779043 |
| Catholic Responsible Investments International Small-Cap Fund |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Purchases |  | 60576172 | 60576172 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sales |  | 71098436 | 71098436 |
| Catholic Responsible Investments Magnus 45/55 Fund |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Purchases |  | 15623047 | 15623047 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sales |  | 19010642 | 19010642 |
| Catholic Responsible Investments Magnus 60/40 Alpha Plus Fund |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Purchases |  | 179186726 | 179186726 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sales |  | 163237289 | 163237289 |
| Catholic Responsible Investments Magnus 60/40 Beta Plus Fund |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Purchases |  | 203077286 | 203077286 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sales |  | 63446574 | 63446574 |
| Catholic Responsible Investments Magnus 75/25 Fund |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Purchases |  | 44459643 | 44459643 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sales |  | 227575142 | 227575142 |

---

**7. Federal Tax Information:**

The amount and character of income and capital gain distributions to be paid, if any, are determined in accordance with Federal income tax regulations, which may differ from U.S. GAAP. As a result, net investment income (loss) and net realized gain/(loss) on investment transactions for a reporting period may differ significantly from distributions during the period. The book/tax differences may be temporary or permanent. The permanent differences are primarily related to GAAP amortization adjustments, reclass for REIT dividends, reclass of distributions, passive foreign investment company gain reclass, GAAP reclass for foreign tax, gains and losses on paydowns of mortgage and asset backed securities for tax purposes and redemption-in-kind. To the extent these differences are permanent in nature, they are charged or credited to distributable earnings (accumulated losses) or paid-in capital as appropriate, in the period that the difference arises. During the fiscal year ended October 31, 2025, there were no permanent differences credited or charged to Paid-in Capital and Distributable Earnings.

**CATHOLIC RESPONSIBLE INVESTMENTS**

**OCTOBER 31, 2025**

The tax character of dividends and distributions declared during the fiscal year ended October 31, 2025 and the year ended October 31, 2024, were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Ordinary Income** | **Long-Term Capital Gain** | **Return of Capital** | **Total** |
| Catholic Responsible Investments Ultra Short Bond Fund |  |  |  |  |
| &nbsp;&nbsp;&nbsp;2025 | $3902838 | $18474 | $— | $3921312 |
| &nbsp;&nbsp;&nbsp;2024 | 3268453 | 651 |  | 3269104 |
| Catholic Responsible Investments Short Duration Bond Fund |  |  |  |  |
| &nbsp;&nbsp;&nbsp;2025 | 22543307 |  |  | 22543307 |
| &nbsp;&nbsp;&nbsp;2024 | 20954065 |  |  | 20954065 |
| Catholic Responsible Investments Bond Fund |  |  |  |  |
| &nbsp;&nbsp;&nbsp;2025 | 104000825 |  |  | 104000825 |
| &nbsp;&nbsp;&nbsp;2024 | 89772527 |  |  | 89772527 |
| Catholic Responsible Investments Opportunistic Bond Fund |  |  |  |  |
| &nbsp;&nbsp;&nbsp;2025 | 33622424 |  |  | 33622424 |
| &nbsp;&nbsp;&nbsp;2024 | 28728404 |  |  | 28728404 |
| Catholic Responsible Investments Equity Index Fund |  |  |  |  |
| &nbsp;&nbsp;&nbsp;2025 | 46941079 | 38848979 |  | 85790058 |
| &nbsp;&nbsp;&nbsp;2024 | 46433637 |  |  | 46433637 |
| Catholic Responsible Investments Small-Cap Fund |  |  |  |  |
| &nbsp;&nbsp;&nbsp;2025 | 5958977 | 5286656 |  | 11245633 |
| &nbsp;&nbsp;&nbsp;2024 | 7069815 |  |  | 7069815 |
| Catholic Responsible Investments Multi-Style US Equity Fund |  |  |  |  |
| &nbsp;&nbsp;&nbsp;2025 | 8947279 | 46480433 |  | 55427712 |
| &nbsp;&nbsp;&nbsp;2024 | 4407296 |  |  | 4407296 |
| Catholic Responsible Investments International Equity Fund |  |  |  |  |
| &nbsp;&nbsp;&nbsp;2025 | 33279772 | 87457779 |  | 120737551 |
| &nbsp;&nbsp;&nbsp;2024 | 23528070 |  |  | 23528070 |
| Catholic Responsible Investments International Small-Cap Fund |  |  |  |  |
| &nbsp;&nbsp;&nbsp;2025 | 2954118 |  |  | 2954118 |
| &nbsp;&nbsp;&nbsp;2024 | 1977492 |  |  | 1977492 |
| Catholic Responsible Investments Magnus 45/55 Fund |  |  |  |  |
| &nbsp;&nbsp;&nbsp;2025 | 3913210 |  |  | 3913210 |
| &nbsp;&nbsp;&nbsp;2024 | 3240579 |  |  | 3240579 |
| Catholic Responsible Investments Magnus 60/40 Alpha Plus Fund |  |  |  |  |
| &nbsp;&nbsp;&nbsp;2025 | 34279597 | 12290936 |  | 46570533 |
| &nbsp;&nbsp;&nbsp;2024 | 25058053 | 244810 |  | 25302863 |
| Catholic Responsible Investments Magnus 60/40 Beta Plus Fund |  |  |  |  |
| &nbsp;&nbsp;&nbsp;2025 | 11752826 | 2599404 |  | 14352230 |
| &nbsp;&nbsp;&nbsp;2024 | 10623460 |  |  | 10623460 |
| Catholic Responsible Investments Magnus 75/25 Fund |  |  |  |  |
| &nbsp;&nbsp;&nbsp;2025 | 6419522 | 962362 |  | 7381884 |
| &nbsp;&nbsp;&nbsp;2024 | 5427018 | 606084 |  | 6033102 |

---

**CATHOLIC RESPONSIBLE INVESTMENTS**

**OCTOBER 31, 2025**

As of October 31, 2025, the components of distributable earnings (accumulated losses) on a tax basis were as follows:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Undistributed Ordinary Income** | **Undistributed Long-Term Capital Gain** | **Capital Loss Carryforwards** | **Unrealized Appreciation (Depreciation)** | **Other Temporary Differences** | **Total Distributable Earnings (Accumulated Losses)** |
| Catholic Responsible Investments Ultra Short Bond Fund | $72877 | $8298 | $— | $33541 | $— | $114716 |
| Catholic Responsible Investments Short Duration Bond Fund | 49199 |  | (19815134) | 5572559 | (954943) | (15148319) |
| Catholic Responsible Investments Bond Fund | 546659 |  | (166721268) | (30017278) | 317790 | (195874097) |
| Catholic Responsible Investments Opportunistic Bond Fund | 121871 |  | (31766243) | 3902229 | 5 | (27742138) |
| Catholic Responsible Investments Equity Index Fund | 8839463 | 108998485 |  | 2776697658 |  | 2894535606 |
| Catholic Responsible Investments Small-Cap Fund | 8462153 | 16703606 |  | 109271892 |  | 134437651 |
| Catholic Responsible Investments Multi-Style US Equity Fund |  | 39405729 |  | 248752763 |  | 288158492 |
| Catholic Responsible Investments International Equity Fund | 12647528 | 67510213 |  | 505209397 | 3562 | 585370700 |
| Catholic Responsible Investments International Small-Cap Fund | 2320757 | 6970037 |  | 15193374 | (57) | 24484111 |
| Catholic Responsible Investments Magnus 45/55 Fund | 3113698 | 2968388 |  | 25341301 |  | 31423387 |
| Catholic Responsible Investments Magnus 60/40 Alpha Plus Fund | 27559194 | 33708760 |  | 342024618 | (3) | 403292569 |
| Catholic Responsible Investments Magnus 60/40 Beta Plus Fund | 13095399 | 6713914 |  | 160109109 |  | 179918422 |
| Catholic Responsible Investments Magnus 75/25 Fund | 3505195 | 40618999 |  | 57523389 | 4 | 101647587 |

---

**CATHOLIC RESPONSIBLE INVESTMENTS**

**OCTOBER 31, 2025**

For Federal income tax purposes, capital loss carryforwards may be carried forward and applied against future capital gains. Losses carried forward are as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | **Short-Term Loss** | **Long-Term Loss** | **Total** |
| Catholic Responsible Investments Short Duration Bond Fund | $6863348 | $12951786 | $19815134 |
| Catholic Responsible Investments Bond Fund | 55721041 | 111000227 | 166721268 |
| Catholic Responsible Investments Opportunistic Bond Fund | 14927032 | 16839211 | 31766243 |

---

During the year ended October 31, 2025, the Catholic Responsible Investments Short Duration Bond Fund utilized $1,091,029, the Catholic Responsible Investments Opportunistic Bond Fund utilized $2,096,881, the Catholic Responsible Investments International Small-Cap Equity Fund utilized $2,554,091 and the Catholic Responsible Investments Magnus 45/55 Fund utilized $175,047, respectively, of capital loss carryforward to offset capital gains.

The differences between book and tax-basis unrealized appreciation and depreciation are attributable primarily to the tax deferral of losses on wash sales, passive foreign investment companies and perpetual bonds. The federal tax cost and aggregate gross unrealized appreciation and depreciation on investments held by the Funds at October 31, 2025, were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Federal Tax Cost** | **Aggregate Gross Unrealized Appreciation** | **Aggregate Gross Unrealized Depreciation** | **Net Unrealized Appreciation (Depreciation)** |
| Catholic Responsible Investments Ultra Short Bond Fund | $94417627 | $41431 | $(7890) | $33541 |
| Catholic Responsible Investments Short Duration Bond Fund | 541140811 | 6167562 | (595003) | 5572559 |
| Catholic Responsible Investments Bond Fund | 2472336745 | 29145260 | (59162538) | (30017278) |
| Catholic Responsible Investments Opportunistic Bond Fund | 718988070 | 8284319 | (4382090) | 3902229 |
| Catholic Responsible Investments Equity Index Fund | 1812059762 | 2889429934 | (112732276) | 2776697658 |
| Catholic Responsible Investments Small-Cap Fund | 442085306 | 172924943 | (63653051) | 109271892 |
| Catholic Responsible Investments Multi-Style US Equity Fund | 499808483 | 262518185 | (13765422) | 248752763 |
| Catholic Responsible Investments International Equity Fund | 1584785577 | 585518168 | (80308771) | 505209397 |
| Catholic Responsible Investments International Small-Cap Fund | 91270159 | 21003929 | (5810555) | 15193374 |
| Catholic Responsible Investments Magnus 45/55 Fund | 114798325 | 27689879 | (2348578) | 25341301 |
| Catholic Responsible Investments Magnus 60/40 Alpha Plus Fund | 1191120475 | 363389071 | (21364453) | 342024618 |
| Catholic Responsible Investments Magnus 60/40 Beta Plus Fund | 510114625 | 168717165 | (8608056) | 160109109 |
| Catholic Responsible Investments Magnus 75/25 Fund | 113160916 | 59549637 | (2026248) | 57523389 |

---

**CATHOLIC RESPONSIBLE INVESTMENTS**

**OCTOBER 31, 2025**

**8. Concentration of Shareholders:**

At October 31, 2025, the percentage of total shares outstanding over 5% held by each Class, which are comprised of individual shareholders and omnibus accounts that are held on behalf of various individual shareholders, was as follows:

---

| | | |
|:---|:---|:---|
|  | **No. of**<br> **Shareholders %**  | **Ownership** |
| Catholic Responsible Investments Ultra Short Bond Fund, Institutional Class | 2 | 18 |
| Catholic Responsible Investments Short Duration Bond Fund, Institutional Class | 4 | 52 |
| Catholic Responsible Investments Bond Fund, Institutional Class | 3 | 28 |
| Catholic Responsible Investments Bond Fund, Investor Class | 2 | 53 |
| Catholic Responsible Investments Opportunistic Bond Fund, Institutional Class | 4 | 54 |
| Catholic Responsible Investments Opportunistic Bond Fund, Investor Class | 1 | 72 |
| Catholic Responsible Investments Equity Index Fund, Institutional Class | 4 | 30 |
| Catholic Responsible Investments Small-Cap Fund, Institutional Class | 3 | 34 |
| Catholic Responsible Investments Multi-Style US Equity Fund, Institutional Class | 2 | 60 |
| Catholic Responsible Investments Multi-Style US Equity Fund, Investor Class | 5 | 33 |
| Catholic Responsible Investments International Equity Fund, Institutional Class | 4 | 40 |
| Catholic Responsible Investments International Equity Fund, Investor Class | 1 | 66 |
| Catholic Responsible Investments International Small-Cap Fund, Institutional Class | 4 | 76 |
| Catholic Responsible Investments Magnus 45/55 Fund, Institutional Class | 4 | 66 |
| Catholic Responsible Investments Magnus 45/55 Fund, Investor Class | 6 | 60 |
| Catholic Responsible Investments Magnus 60/40 Alpha Plus Fund, Institutional Class | 5 | 39 |
| Catholic Responsible Investments Magnus 60/40 Alpha Plus Fund, Investor Class | N/A | N/A |
| Catholic Responsible Investments Magnus 60/40 Beta Plus Fund, Institutional Class | 5 | 35 |
| Catholic Responsible Investments Magnus 60/40 Beta Plus Fund, Investor Class | 2 | 24 |
| Catholic Responsible Investments Magnus 75/25 Fund, Institutional Class | 7 | 79 |
| Catholic Responsible Investments Magnus 75/25 Fund, Investor Class | 4 | 78 |

---

**9. Indemnifications:**

In the normal course of business, the Funds enter into contracts that provide general indemnifications. The Funds' maximum exposure under these arrangements is dependent on future claims that may be made against the Funds and, therefore, cannot be established; however, based on experience, the risk of loss from such claim is considered remote.

**10. Concentration of Risks:**

As with all mutual funds, there is no guarantee that the Funds will achieve their investment objectives. You could lose money by investing in the Funds. A Fund share is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any government agency. The principal risk factors affecting shareholders' investments in the Funds are set forth below.

*Active Management Risk (Catholic Responsible Investments Ultra Short Bond Fund, Catholic Responsible Investments Short Duration Bond Fund, Catholic Responsible Investments Bond Fund, Catholic Responsible Investments Opportunistic Bond Fund, Catholic Responsible Investments Multi-Style US Equity Fund, Catholic Responsible Investments International Equity Fund and Catholic Responsible Investments International Small-Cap Fund)* — Each Fund is subject to the risk that the Adviser's or the sub-advisers' judgments, as applicable, about the attractiveness, value, or potential appreciation of the Fund's investments may prove to be incorrect. If the investments selected and strategies employed by a Fund fail to produce the intended results, an investment in the Fund could decline in value or the Fund could underperform in comparison to its benchmark index or other funds with similar objectives and investment strategies.

*Adjustable Rate Mortgages Risk (Catholic Responsible Investments Short Duration Bond Fund, Catholic Responsible Investments Bond Fund and Catholic Responsible Investments Opportunistic Bond Fund)* — Adjustable Rate Mortgages ("ARMs") contain maximum and minimum rates beyond which the mortgage interest rate may not vary over the lifetime of the security. In addition, many ARMs provide for additional limitations on the maximum amount by which the mortgage interest rate may adjust for any single adjustment period. Alternatively, certain ARMs contain limitations on changes in the required monthly payment. In the event that a monthly payment is not sufficient to pay the interest accruing on an ARM, any excess interest is added to the principal balance of the mortgage loan, which is repaid through future monthly payments. If the monthly payment for such an instrument exceeds the sum of the interest accrued at the applicable mortgage interest rate and the principal payment required at such point to amortize the outstanding principal balance over the remaining term of the loan, the excess is used to reduce the then-outstanding principal balance of the ARM.

**CATHOLIC RESPONSIBLE INVESTMENTS**

**OCTOBER 31, 2025**

In addition, certain ARMs may provide for an initial fixed, below-market or teaser interest rate. During this initial fixed-rate period, the payment due from the related mortgagor may be less than that of a traditional loan. However, after the teaser rate expires, the monthly payment required to be made by the mortgagor may increase dramatically when the interest rate on the mortgage loan adjusts. This increased burden on the mortgagor may increase the risk of delinquency or default on the mortgage loan and in turn, losses on the mortgage-backed securities into which that loan has been bundled.

*Affiliated Fund Risk (Catholic Responsible Investments Magnus 45/55 Fund, Catholic Responsible Investments Magnus 60/40 Alpha Plus Fund, Catholic Responsible Investments Magnus 60/40 Beta Plus Fund and Catholic Responsible Investments Magnus 75/25 Fund) —* In managing each Fund, the Adviser will have authority to select and substitute Underlying Funds. The Adviser may be subject to potential conflicts of interest in selecting Underlying Funds because the fees paid to the Adviser by some Underlying Funds are higher than the fees paid by other underlying funds. However, the Adviser is a fiduciary to the Funds and is legally obligated to act in the Funds' best interests when selecting Underlying Funds. If an Underlying Fund holds interests in an affiliated fund, a Fund may be prohibited from purchasing shares of that Underlying Fund.

*Asset Allocation Risk (Catholic Responsible Investments Magnus 45/55 Fund, Catholic Responsible Investments Magnus 60/40 Alpha Plus Fund, Catholic Responsible Investments Magnus 60/40 Beta Plus Fund and Catholic Responsible Investments Magnus 75/25 Fund)* — Each Fund is subject to asset allocation risk, which is the risk that the selection of the Underlying Funds and the allocation of the Fund's assets among the various asset classes and market segments will cause the Fund to underperform other funds with a similar investment objective. The value of an investment in a Fund is based primarily on the prices of the Underlying Funds in which the Fund invests. In turn, the price of each Underlying Fund is based on the value of its assets. The ability of a Fund to meet its investment objective is directly related to its asset allocation among the Underlying Funds and its direct investments and the ability of the Underlying Funds to meet their investment objectives and for the direct investments to perform positively. If the Adviser's asset allocation strategy does not work as intended, a Fund may not achieve its objective.

*Asset-Backed Securities Risk (Catholic Responsible Investments Ultra Short Bond Fund, Catholic Responsible Investments Short Duration Bond Fund, Catholic Responsible Investments Bond Fund and Catholic Responsible Investments Opportunistic Bond Fund)* — Asset-backed securities are securities backed by non-mortgage assets such as company receivables, truck and auto loans, leases and credit card receivables. Asset-backed securities may be issued as pass-through certificates, which represent undivided fractional ownership interests in the underlying pools of assets. Asset-backed securities may also be debt instruments, which are also known as collateralized obligations and are generally issued as the debt of a special purpose entity, such as a trust, organized solely for the purpose of owning such assets and issuing debt obligations. Repayment depends largely on the cash flows generated by the assets backing the securities. Asset-backed securities entail prepayment risk, which may vary depending on the type of asset, but is generally less than the prepayment risk associated with mortgage-backed securities, which is discussed below. Asset-backed securities present credit risks that are not presented by mortgage-backed securities. This is because asset-backed securities generally do not have the benefit of a security interest in collateral that is comparable in quality to mortgage assets. If the issuer of an asset-backed security defaults on its payment obligations, there is the possibility that, in some cases, a Fund will be unable to possess and sell the underlying collateral and that the Fund's recoveries on repossessed collateral may not be available to support payments on the security. In the event of a default, a Fund may suffer a loss if it cannot sell collateral quickly and receive the amount it is owed.

*Bank Loans Risk (Catholic Responsible Investments Short Duration Bond Fund, Catholic Responsible Investments Bond Fund and Catholic Responsible Investments Opportunistic Bond Fund)* — Each Fund may purchase assignments of portions of bank loans from third parties or by investing in participations in bank loans. With respect to loans purchased by assignment, each Fund generally has a contractual relationship with the borrower and, therefore, direct rights against the borrower in the event of a default. With respect to participations, each Fund typically has a contractual right with the lender, generally a bank selling the participation, and, therefore, assumes the credit risk of the lender in addition to the credit risk of the borrower. In the event of an insolvency of the lender selling the participation, each Fund may be treated as a general creditor of the lender but may not have a senior claim to the lender's loan to the borrower. Certain bank loans, including certain participations in bank loans, may be illiquid and each Fund may not be able to sell such loans quickly for a fair price. While a liquid secondary market for bank loans has increased over the years, particularly with respect to loans held directly, the secondary market for such instruments is not as liquid as for other types of investments. Loans continue to trade in an unregulated inter-dealer or inter-bank secondary market. Purchases and sales of bank loans are generally subject to the contractual restrictions that must be satisfied before a loan can be bought or sold. These restrictions may impede each Fund's ability to buy or sell bank loans, may negatively impact the transaction price, may result in delayed settlement of bank loan transactions, and/or may delay each Fund's ability to make timely redemptions of Fund shares. In addition, the lack of a highly liquid secondary market may have an adverse impact on the value of such investments and on each Fund's ability to dispose of such investments quickly, particularly in response to a specific economic event or the sudden deterioration in the creditworthiness of the borrower. Additionally, in the event of an insolvency, a court could subordinate a bank loan to presently existing or future indebtedness of the borrower to take other action detrimental to the lenders.

**CATHOLIC RESPONSIBLE INVESTMENTS**

**OCTOBER 31, 2025**

*Capital Gain Risk (Catholic Responsible Investments Equity Index Fund and Catholic Responsible Investments Small-Cap Fund)* — A substantial portion of each Fund's net asset value is attributable to net unrealized capital gains on portfolio securities. If a Fund realizes capital gains in excess of realized capital losses in any fiscal year, it makes capital gain distributions to shareholders. You may receive distributions that are attributable to appreciation of portfolio securities that happened before you made your investment. Unless you purchase shares through a tax-advantaged account (such as an IRA or 401(k) plan), these distributions will be taxable to you even though they economically represent a return of a portion of your investment. You should consult your tax adviser about your investment in the Funds.

*Catholic Values Investing Risk (All Funds)* — Each Fund considers the Adviser's Catholic Responsible Investment criteria in its investment process and may choose not to purchase, or may sell, including at inopportune times which would result in losses to the Fund, otherwise profitable investments in companies which have been identified as being in conflict with the Adviser's Catholic Responsible Investment criteria. This means that a Fund may underperform other similar mutual funds that do not consider these criteria when making investment decisions. In addition, there can be no guarantee that the activities of the companies identified by each Fund's investment process will align (or be perceived to align) with the principles contained in the Adviser's Catholic Responsible Investment criteria.

*Collateralized Loan Obligations Risk (Catholic Responsible Investments Ultra Short Bond Fund, Catholic Responsible Investments Short Duration Bond Fund, Catholic Responsible Investments Bond Fund and Catholic Responsible Investments Opportunistic Bond Fund)* — Collateralized loan obligations are investment vehicles typically collateralized by a pool of loans, which may include, among others, senior secured loans, senior unsecured loans, and subordinate corporate loans, including loans that may be rated below investment grade or equivalent unrated loans. Collateralized loan obligations are subject to the risks of substantial losses due to actual defaults by borrowers of the loans underlying the collateralized loan obligations, which will be greater during periods of economic or financial stress. Collateralized loan obligations may also lose value due to collateral defaults and disappearance of subordinate tranches, market anticipation of defaults, and investor aversion to collateralized loan obligation securities as a class. The Funds may invest in collateralized loan obligations that hold loans of non-creditworthy borrowers or in subordinate tranches of a collateralized loan obligation, which may absorb losses from underlying borrower defaults before senior tranches. Investments in such collateralized loan obligations present a greater risk of loss. In addition, collateralized loan obligations are subject to interest rate risk and credit risk.

Legislation such as the Dodd-Frank Wall Street Reform and Consumer Protection Act (the "Dodd-Frank Act"), which was signed into law on July 21, 2010, together with uncertainty about the nature and timing of regulations that will be promulgated to implement such legislation, may continue to create uncertainty in the credit and other financial markets. Given that all applicable final implementing rules and regulations have not yet been published or are not yet in effect, the potential impact of these actions on collateralized loan obligations that may be owned by the Funds is unknown. If existing transactions are not exempted from the new rules or regulations, compliance with those rules and regulations could impose significant costs on the issuers of collateralized loan obligations and ultimately adversely impact the holders (including the Funds) of those types of securities.

**CATHOLIC RESPONSIBLE INVESTMENTS**

**OCTOBER 31, 2025**

*Commercial Paper Risk (Catholic Responsible Investments Ultra Short Bond Fund)* — Commercial paper is a short-term obligation with a maturity generally ranging from one to 270 days and is issued by U.S. or foreign companies or other entities in order to finance their current operations. Such investments are unsecured and usually discounted from their value at maturity. The value of commercial paper may be affected by changes in the credit rating or financial condition of the issuing entities and will tend to fall when interest rates rise and rise when interest rates fall. Asset-backed commercial paper may be issued by structured investment vehicles or other conduits that are organized to issue the commercial paper and to purchase trade receivables or other financial assets. The repayment of asset-backed commercial paper depends primarily on the cash collections received from such an issuer's underlying asset portfolio and the issuer's ability to issue new asset-backed commercial paper.

*Corporate Fixed Income Securities Risk (Catholic Responsible Investments Ultra Short Bond Fund, Catholic Responsible Investments Short Duration Bond Fund, Catholic Responsible Investments Bond Fund and Catholic Responsible Investments Opportunistic Bond Fund)* — The Funds may invest in corporate fixed income securities. Corporate fixed income securities are fixed income securities issued by public and private businesses. Corporate fixed income securities respond to economic developments, especially changes in interest rates, as well as perceptions of the creditworthiness and business prospects of individual issuers. Corporate fixed income securities are subject to the risk that the issuer may not be able to pay interest or, ultimately, to repay principal upon maturity. Interruptions or delays of these payments could adversely affect the market value of the security. In addition, due to lack of uniformly available information about issuers or differences in the issuers' sensitivity to changing economic conditions, it may be difficult to measure the credit risk of corporate securities.

*Credit Risk (Catholic Responsible Investments Ultra Short Bond Fund, Catholic Responsible Investments Short Duration Bond Fund, Catholic Responsible Investments Bond Fund and Catholic Responsible Investments Opportunistic Bond Fund)* — Credit risk is the risk that a decline in the credit quality of an investment could cause a Fund to lose money. A Fund could lose money if the issuer or guarantor of a portfolio security or a counterparty to a derivative contract fails to make timely payment or otherwise honor its obligations. Fixed income securities rated below investment grade (junk bonds) (described elsewhere in this section) involve greater risks of default or downgrade and are generally more volatile than investment grade securities. Discontinuation of these payments could substantially adversely affect the market value of the security.

*Credit Spread Risk (Catholic Responsible Investments Short Duration Bond Fund, Catholic Responsible Investments Bond Fund and Catholic Responsible Investments Opportunistic Bond Fund)* – Credit spread is the difference in yield between securities that results from differences in each security's respective credit quality. Credit spreads may increase when market participants believe that bonds generally have a greater risk of default, which could result in a decline in the market values of a Fund's debt securities.

*Derivatives Risk (Catholic Responsible Investments Short Duration Bond Fund, Catholic Responsible Investments Bond Fund, Catholic Responsible Investments Opportunistic Bond Fund, Catholic Responsible Investments Multi-Style US Equity Fund, Catholic Responsible Investments International Equity Fund and Catholic Responsible Investments International Small-Cap Fund) – Derivatives are instruments that derive their value from an underlying security, financial asset or an index. Examples of derivative instruments include* futures contracts, forward contracts, options and swaps. Changes in the market value of a security that is a reference asset for a derivative instrument may not be proportionate to changes in the market value of the derivative instrument itself. There may not be a liquid market for a Fund to sell a derivative instrument, which could result in difficulty in closing the position. Moreover, certain derivative instruments can magnify the extent of losses incurred due to changes in the market value of the securities to which they relate. Some derivative instruments are subject to counterparty risk. A default by the counterparty on its payments to a Fund will cause the value of your investment in the Fund to decrease. A Fund's use of derivatives is also subject to credit risk, leverage risk, lack of availability risk, valuation risk, correlation risk and tax risk. Credit risk is described elsewhere in this section. Leverage risk is the risk that a small percentage of assets invested in derivatives can have a disproportionately larger impact on a Fund's performance. A Fund's counterparties to its derivative contracts present the same types of credit risk as issuers of fixed income securities. Lack of availability risk is the risk that suitable derivative transactions, such as roll-forward contracts, may not be available in all circumstances for risk management or other purposes. Valuation risk is the risk that a particular derivative may be valued incorrectly. Correlation risk is the risk that changes in the value of the derivative may not correlate perfectly with the underlying asset, rate or index. Tax risk is the risk that the use of derivatives may cause a Fund to realize higher amounts of short-term capital gains, thereby increasing the amount of taxes payable by some shareholders. These risks could cause a Fund to lose more than the principal amount invested. Some derivatives have the potential for unlimited loss, regardless of the size of a Fund's initial investment. Derivatives are also subject to a number of other risks described elsewhere in the Funds' prospectus.

**CATHOLIC RESPONSIBLE INVESTMENTS**

**OCTOBER 31, 2025**

Derivatives transactions conducted outside of the U.S. may not be conducted in the same manner as those entered into on U.S. exchanges, and may be subject to different margin, exercise, settlement or expiration procedures. Derivatives transactions conducted outside the U.S. also are subject to the risks affecting foreign securities, currencies and other instruments, in addition to other risks.

Both U.S. and non-U.S. regulators have adopted and implemented regulations governing derivatives markets, including Rule 18f-4 under the Investment Company Act of 1940, as amended (the "1940 Act"). The ultimate impact of the regulations remains unclear. Additional regulation of derivatives may make derivatives more costly, limit their availability or utility, limit or restrict their use by a Fund, otherwise adversely affect their performance or disrupt markets. Additionally, regulation relating to the Funds' use of derivatives and related instruments, including Rule 18f-4, could potentially limit or impact the Funds' ability to invest in derivatives, limit the Funds' ability to employ certain strategies that use derivatives and/or adversely affect the value of derivatives and the Funds' performance.

*Forward Contracts* – A forward contract, also called a "forward," involves a negotiated obligation to purchase or sell a specific security or currency at a future date (with or without delivery required), 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 contracts are not traded on exchanges; rather, a bank or dealer will act as agent or as principal in order to make or take future delivery of a specified lot of a particular security or currency for a Fund's account. Risks associated with forwards may include: (i) an imperfect correlation between the movement in prices of forward contracts and the securities or currencies underlying them; (ii) an illiquid market for forwards; (iii) difficulty in obtaining an accurate value for the forwards; and (iv) the risk that the counterparty to the forward contract will default or otherwise fail to honor its obligation. Because forwards require only a small initial investment in the form of a deposit or margin, they involve a high degree of leverage.

*Futures Contracts* – Futures contracts, or "futures," provide for the future sale by one party and purchase by another party of a specified amount of a specific security or asset at a specified future time and at a specified price (with or without delivery required). The risks of futures include: (i) leverage risk; (ii) correlation or tracking risk; and (iii) liquidity risk. Because futures require only a small initial investment in the form of a deposit or margin, they involve a high degree of leverage. Accordingly, the fluctuation of the value of futures in relation to the underlying assets upon which they are based is magnified. Thus, a Fund may experience losses that exceed losses experienced by funds that do not use futures contracts and which may be unlimited, depending on the structure of the contract. There may be imperfect correlation, or even no correlation, between price movements of a futures contract and price movements of investments for which futures are used as a substitute, or which futures are intended to hedge.

Lack of correlation (or tracking) may be due to factors unrelated to the value of the investments being substituted or hedged, such as speculative or other pressures on the markets in which these instruments are traded. Consequently, the effectiveness of futures as a security substitute or as a hedging vehicle will depend, in part, on the degree of correlation between price movements in the futures and price movements in underlying securities or assets. While futures contracts are generally liquid instruments, under certain market conditions they may become illiquid. Futures exchanges may impose daily or intra-day price change limits and/or limit the volume of trading.

Additionally, government regulation may further reduce liquidity through similar trading restrictions. As a result, a Fund may be unable to close out its futures contracts at a time that is advantageous. If movements in the markets for security futures contracts or the underlying security decrease the value of a Fund's positions in security futures contracts, the Fund may be required to have or make additional funds available to its brokerage firm as margin. If a Fund's account is under the minimum margin requirements set by the exchange or the brokerage firm, its position may be liquidated at a loss, and the Fund will be liable for the deficit, if any, in its account. A Fund may also experience losses due to systems failures or inadequate system back-up or procedures at the brokerage firm(s) carrying the Fund's positions. The successful use of futures depends upon a variety of factors, particularly the ability of the Adviser to predict movements of the underlying securities markets, which requires different skills than predicting changes in the prices of individual securities. There can be no assurance that any particular futures strategy adopted will succeed.

**CATHOLIC RESPONSIBLE INVESTMENTS**

**OCTOBER 31, 2025**

*Options –* An option is a contract between two parties for the purchase and sale of a financial instrument for a specified price at any time during the option period. Unlike a futures contract, an option grants the purchaser, in exchange for a premium payment, a right (not an obligation) to buy or sell a financial instrument. An option on a futures contract gives the purchaser the right, in exchange for a premium, to assume a position in a futures contract at a specified exercise price during the term of the option. The seller of an uncovered call (buy) option assumes the risk of a theoretically unlimited increase in the market price of the underlying security above the exercise price of the option. The securities necessary to satisfy the exercise of the call option may be unavailable for purchase except at much higher prices. Purchasing securities to satisfy the exercise of the call option can itself cause the price of the securities to rise further, sometimes by a significant amount, thereby exacerbating the loss. The buyer of a call option assumes the risk of losing an entire premium in the call option without ever getting the opportunity to exercise the option. The seller (writer) of a put (sell) option that is covered (e.g., the writer has a short position in the underlying security) assumes the risk of an increase in the market price of the underlying security above the sales price (in establishing the short position) of the underlying security plus the premium received and gives up the opportunity for gain on the underlying security below the exercise price of the option. The seller of an uncovered put option assumes the risk of a decline in the market price of the underlying security below the exercise price of the option. The buyer of a put option assumes the risk of losing an entire premium in the put option without ever getting the opportunity to exercise the option. An option's time value (i.e., the component of the option's value that exceeds the in-the-money amount) tends to diminish over time. Even though an option may be in-the-money to the buyer at various times prior to its expiration date, the buyer's ability to realize the value of an option depends on when and how the option may be exercised. For example, the terms of a transaction may provide for the option to be exercised automatically if it is in-the-money on the expiration date. Conversely, the terms may require timely delivery of a notice of exercise, and exercise may be subject to other conditions (such as the occurrence or non-occurrence of certain events, such as knock-in, knock-out or other barrier events) and timing requirements, including the "style" of the option.

*Swap Agreements – Swaps are agreements whereby two parties agree to exchange payment streams calculated by reference to an underlying asset, such as a rate, index, currency, instrument or securities. Swaps typically involve credit risk, market risk, liquidity risk, funding risk, operational risk, legal and documentation risk, regulatory risk and/or tax risk. Interest rate swaps involve one party, in return for a premium, agreeing to make payments to another party to the extent that interest rates exceed or fall below a specified rate (a "cap" or "floor," respectively). Swap agreements involve the risk that the party with whom a Fund has entered into the swap will default on its obligation to pay the Fund and the risk that the Fund will not be able to meet its obligations to the other party to the agreement. Certain* derivatives, including swaps, may be subject to fees and expenses, and by investing in such derivatives indirectly through a Fund, a shareholder will bear the expenses of such derivatives in addition to expenses of the Fund.

Total return swaps are contracts that obligate a party to pay interest in exchange for payment by the other party of the total return generated by a security, a basket of securities, an index or an index component. Total return swaps give a Fund the right to receive the appreciation in the value of a specified security, index or other instrument in return for a fee paid to the counterparty, which will typically be an agreed upon interest rate. If the underlying asset in a total return swap declines in value over the term of the swap, a Fund may also be required to pay the dollar value of that decline to the counterparty.

A credit default swap enables a Fund to buy or sell protection against a defined credit event of an issuer or a basket of securities. The buyer of a credit default swap is generally obligated to pay the seller a periodic stream of payments over the term of the contract in return for a contingent payment upon the occurrence of a credit event with respect to an underlying reference obligation. If a Fund is a seller of protection and a credit event occurs (as defined under the terms of that particular swap agreement), the Fund will generally either: (i) pay to the buyer an amount equal to the notional amount of the swap and take delivery of the referenced obligation, other deliverable obligations, or underlying securities comprising a referenced index or (ii) pay a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising a referenced index. If a Fund is a buyer of protection and a credit event occurs (as defined under the terms of that particular swap agreement), the Fund will either: (i) receive from the seller of protection an amount equal to the notional amount of the swap and deliver the referenced obligation, other deliverable obligations or underlying securities comprising the referenced index or (ii) receive a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index. Recovery values are calculated by market makers considering either industry standard recovery rates or entity specific factors and other considerations until a credit event occurs. If a credit event has occurred, the recovery value is generally determined by a facilitated auction whereby a minimum number of allowable broker bids, together with a specified valuation method, are used to calculate the settlement value.

**CATHOLIC RESPONSIBLE INVESTMENTS**

**OCTOBER 31, 2025**

*Credit default swaps involve special risks in addition to those mentioned above because they are difficult to value, are highly susceptible to liquidity and credit risk, and generally pay a return to the party that has paid the premium only in the event of an actual default by the issuer of the underlying obligation (as opposed to a credit downgrade or other indication of financial difficulty). Like a long or short position in a physical security, credit default swaps are subject to the same factors that cause changes in the market value of the underlying asset.*

*The Dodd-Frank Act created a new statutory framework that comprehensively regulated the OTC derivatives markets for the first time. Key Dodd-Frank Act provisions relating to OTC derivatives require rulemaking by the U.S. Securities and Exchange Commission (the "SEC") and the Commodity Futures Trading Commission (the "CFTC"), not all of which has been proposed or finalized as of the date of the Funds' prospectus. Prior to the Dodd-Frank Act, the OTC derivatives markets were traditionally traded on a bilateral basis (so-called "bilateral OTC transactions"). Under the Dodd-Frank Act, certain OTC derivatives transactions are now required to be centrally cleared and traded on exchanges or electronic trading platforms called swap execution facilities. Bilateral OTC transactions differ from exchange-traded or cleared derivatives transactions in several respects. Bilateral OTC transactions are transacted directly with dealers and not with a clearing corporation. As bilateral OTC transactions are entered into directly with a dealer, there is a risk of nonperformance by the dealer as a result of its insolvency or otherwise. Under regulations adopted by the CFTC and federal banking regulators (commonly referred to as "Margin Rules"), a Fund is required to post collateral (known as variation margin) to cover the mark-to-market exposure in respect of its uncleared swaps. These rules also mandate that collateral in the form of initial margin be posted to cover potential future exposure attributable to uncleared swap transactions for certain entities, which may include the Funds.*

*Duration Risk (Catholic Responsible Investments Ultra Short Bond Fund, Catholic Responsible Investments Short Duration Bond Fund, Catholic Responsible Investments Bond Fund and Catholic Responsible Investments Opportunistic Bond Fund)* – Duration is a measure of the expected life of a fixed income security that is used to determine the sensitivity of a security's price to changes in interest rates. For example, if a fixed income security has a five-year duration, it will decrease in value by approximately 5% if interest rates rise 1% and increase in value by approximately 5% if interest rates fall 1%. Fixed income instruments with higher duration typically have higher risk and higher volatility. Longer-term fixed income securities in which a portfolio may invest are more volatile than shorter-term fixed income securities. A portfolio with a longer average portfolio duration is typically more sensitive to changes in interest rates than a portfolio with a shorter average portfolio duration.

*Emerging Markets Securities Risk (Catholic Responsible Investments Short Duration Bond Fund, Catholic Responsible Investments Bond Fund, Catholic Responsible Investments Opportunistic Bond Fund, Catholic Responsible Investments Multi-Style US Equity Fund, Catholic Responsible Investments International Equity Fund and Catholic Responsible Investments International Small-Cap Fund)* – Emerging market countries may be more likely to experience political turmoil or rapid changes in market or economic conditions than more developed countries. Emerging market countries often have less uniformity in accounting and reporting requirements and unreliable securities valuation. It is sometimes difficult to obtain and enforce court judgments in such countries and there is often a greater potential for nationalization and/or expropriation of assets by the government of an emerging market country. In addition, the financial stability of issuers (including governments) in emerging market countries may be more precarious than in other countries. As a result, there will tend to be an increased risk of price volatility associated with a Fund's investments in emerging market countries, which may be magnified by currency fluctuations relative to the U.S. dollar.

**CATHOLIC RESPONSIBLE INVESTMENTS**

**OCTOBER 31, 2025**

*Equity Risk (Catholic Responsible Investments Equity Index Fund, Catholic Responsible Investments Small-Cap Fund, Catholic Responsible Investments Multi-Style US Equity Fund, Catholic Responsible Investments International Equity Fund and Catholic Responsible Investments International Small-Cap Fund) –* Equity securities include common and preferred stocks, convertible securities, rights and warrants, depositary receipts, private placements, "new issues" and shares of exchange-traded funds ("ETFs"). Common stock represents an equity or ownership interest in an issuer. Preferred stock provides a fixed dividend that is paid before any dividends are paid to common stockholders, and which takes precedence over common stock in the event of a liquidation. Like common stock, preferred stocks represent partial ownership in a company, although preferred stock shareholders do not enjoy any of the voting rights of common stockholders. Also, unlike common stock, a preferred stock pays a fixed dividend that does not fluctuate, although the company does not have to pay this dividend if it lacks the financial ability to do so. Investments in equity securities in general are subject to market risks that may cause their prices to fluctuate over time. The value of securities convertible into equity securities, such as warrants or convertible debt, is also affected by prevailing interest rates, the credit quality of the issuer and any call provision. Fluctuations in the value of equity securities in which a Fund invests will cause the Fund's NAV to fluctuate.

*Fixed Income Market Risk (Catholic Responsible Investments Ultra Short Bond Fund, Catholic Responsible Investments Short Duration Bond Fund, Catholic Responsible Investments Bond Fund and Catholic Responsible Investments Opportunistic Bond Fund) —* The prices of a Fund's fixed income securities respond to economic developments, particularly interest rate changes, as well as to perceptions about the creditworthiness of individual issuers, including governments and their agencies. Generally, a Fund's fixed income securities will decrease in value if interest rates rise and vice versa. Fixed income securities may have fixed, variable or floating rates. There is a risk that the current interest rate on floating and variable rate instruments may not accurately reflect existing market interest rates. Also, longer-term securities are generally more sensitive to changes in the level of interest rates, so the average maturity or duration of these securities affects risk. Changes in government policy, including the Federal Reserve's decisions with respect to raising interest rates or terminating certain programs such as quantitative easing, could increase the risk that interest rates will rise. Rising interest rates may, in turn, increase volatility and reduce liquidity in the fixed income markets, and result in a decline in the value of the fixed income investments held by a Fund. These risks may be heightened in a low interest rate environment. In addition, reductions in dealer market-making capacity as a result of structural or regulatory changes could further decrease liquidity and/or increase volatility in the fixed income markets. In the case of foreign securities, price fluctuations will reflect international economic and political events, as well as changes in currency valuations relative to the U.S. dollar. As a result of these market conditions, a Fund's value may fluctuate and/or the Fund may experience increased redemptions from shareholders, which may impact the Fund's liquidity or force the Fund to sell securities into a declining or illiquid market. Broad movements in financial markets may adversely affect the price of a Fund's investments, regardless of how well the companies in which the Fund invests perform. In addition, the impact of any epidemic, pandemic or natural disaster, or widespread fear that such events may occur, could negatively affect the global economy, as well as the economies of individual countries, the financial performance of individual companies and sectors, and the markets in general in significant and unforeseen ways. Any such impact could adversely affect the prices and liquidity of the securities and other instruments in which a Fund invests, which in turn could negatively impact the Fund's performance and cause losses on your investment in the Fund.

*Floating Rate Securities Risk (Catholic Responsible Investments Ultra Short Bond Fund, Catholic Responsible Investments Short Duration Bond Fund, Catholic Responsible Investments Bond Fund and Catholic Responsible Investments Opportunistic Bond Fund)* — Each Fund may invest in obligations with interest rates that are reset periodically. Although floating rate securities are generally less sensitive to interest rate changes than fixed rate instruments, the value of floating rate securities may decline if their interest rates do not rise as quickly, or as much, as general interest rates. Floating rate securities are issued by a wide variety of issuers and may be issued for a wide variety of purposes, including as a method of reconstructing cash flows. Issuers of floating rate securities may include, but are not limited to, financial companies, merchandising entities, bank holding companies, and other entities. In addition to the risks associated with the floating nature of interest payments, investors remain exposed to other underlying risks associated with the issuer of the floating rate security, such as credit risk.

*Foreign Company Risk (Catholic Responsible Investments Short-Duration Bond Fund, Catholic Responsible Investments Bond Fund, Catholic Responsible Investments Opportunistic Bond Fund, Catholic Responsible Investments Multi-Style US Equity Fund, Catholic Responsible Investments International Equity Fund and Catholic Responsible Investments International Small-Cap Fund)* — Investing in issuers located in foreign countries poses distinct risks because political and economic events unique to a country or region will affect those markets and their issuers. These events will not necessarily affect the U.S. economy or similar issuers located in the United States. More specifically, investing in foreign issuers includes risks of adverse changes in foreign economic, political, regulatory and other conditions, changes in currency exchange rates or exchange control regulations (including limitations on currency movements and exchanges), differing accounting, auditing, financial reporting and legal standards and practices, differing securities market structures, and higher transaction costs. In certain countries, legal remedies available to investors may be more limited than those available with respect to investments in the U.S. In addition, the securities of some foreign companies may be less liquid and, at times, more volatile than securities of comparable U.S. companies. A Fund may also experience more rapid or extreme changes in value as compared to a fund that invests solely in securities of U.S. companies because the securities markets of many foreign countries are relatively small and consist of a limited number of companies representing a small number of industries. Investing in foreign issuers also poses the risk that the cost of buying, selling and holding foreign securities, including brokerage, tax and custody costs, may be higher than the costs involved in domestic transactions. In addition, investments in foreign countries are generally denominated in a foreign currency. As a result, changes in the value of those currencies compared to the U.S. dollar may affect (positively or negatively) the value of a Fund's investments. These currency movements may happen separately from, and in response to, events that do not otherwise affect the value of the security in the issuer's home country. Additionally, periodic U.S. Government restrictions on investments in issuers from certain foreign countries may result in a Fund having to sell such prohibited securities at inopportune times. Such prohibited securities may have less liquidity as a result of such U.S. Government designation and the market price of such prohibited securities may decline, which may cause a Fund to incur losses.

**CATHOLIC RESPONSIBLE INVESTMENTS**

**OCTOBER 31, 2025**

*Foreign Currency Risk (Catholic Responsible Investments International Equity Fund and Catholic Responsible Investments International Small-Cap Fund)* — Because non-U.S. securities are usually denominated in currencies other than the dollar, the value of a Fund's portfolio may be influenced by currency exchange rates and exchange control regulations. The currencies of emerging market countries may experience significant declines against the U.S. dollar, and devaluation may occur subsequent to investments in these currencies by a Fund. Inflation and rapid fluctuations in inflation rates have had, and may continue to have, negative effects on the economies and securities markets of certain emerging market countries.

*Foreign Sovereign Debt Securities Risk (Catholic Responsible Investments Short-Duration Bond Fund, Catholic Responsible Investments Bond Fund and Catholic Responsible Investments Opportunistic Bond Fund)* – The risks that (i) the governmental entity that controls the repayment of sovereign debt may not be willing or able to repay the principal and/or interest when it becomes due because of factors such as debt service burden, political constraints, cash flow problems and other national economic factors; (ii) governments may default on their debt securities, which may require holders of such securities to participate in debt rescheduling or additional lending to defaulting governments; and (iii) there is no bankruptcy proceeding by which defaulted sovereign debt may be collected in whole or in part. These risks are typically heightened with respect to emerging market countries.

*Geographic Focus Risk (Catholic Responsible Investments Ultra Short Bond Fund, Catholic Responsible Investments Short Duration Bond Fund, Catholic Responsible Investments Opportunistic Bond Fund, Catholic Responsible Investments Multi-Style US Equity Fund and Catholic Responsible Investments International Small-Cap Fund)* — To the extent that it focuses its investments in a particular country or geographic region, a Fund may be more susceptible to economic, political, regulatory or other events or conditions affecting issuers and countries within that country or geographic region. As a result, such Fund may be subject to greater price volatility and risk of loss than a fund holding more geographically diverse investments.

*Investing in the United States Risk.* A Fund that focuses its investments in the United States may be more susceptible to economic, political, regulatory or other events or conditions affecting issuers within the United States, and may be subject to greater price volatility and risk of loss, than a fund holding more geographically diverse investments.

*Growth Investment Style Risk (Catholic Responsible Investments Multi-Style US Equity Fund and Catholic Responsible Investments International Small-Cap Fund)* — The Fund may invest in securities of companies that the Adviser or a sub-adviser believes have superior prospects for robust and sustainable growth of revenues and earnings. An investment in growth stocks may be susceptible to rapid price swings, especially during periods of economic uncertainty. Growth stocks typically have little or no dividend income to cushion the effect of adverse market conditions. In addition, growth stocks may be particularly volatile in the event of earnings disappointments or other financial difficulties experienced by the issuer. In addition, these may be companies with new, limited or cyclical product lines, markets or financial resources, and the management of such companies may be dependent upon one or a few key people. The stocks of such companies can therefore be subject to more abrupt or erratic market movements than stocks of larger, more established companies or the stock market in general.

**CATHOLIC RESPONSIBLE INVESTMENTS**

**OCTOBER 31, 2025**

*High Yield Bond Risk (Catholic Responsible Investments Short Duration Bond Fund, Catholic Responsible Investments Bond Fund and Catholic Responsible Investments Opportunistic Bond Fund)* — High yield, or "junk," bonds are highly speculative securities that are usually issued by smaller, less creditworthy and/or highly leveraged (indebted) companies. Compared with investment-grade bonds, high yield bonds are considered to carry a greater degree of risk and are considered to be less likely to make payments of interest and principal. In particular, lower-quality high yield bonds (rated CCC, CC, C, or unrated securities judged to be of comparable quality) are subject to a greater degree of credit risk than higher-quality high yield bonds and may be near default. High yield bonds rated D are in default. Market developments and the financial and business conditions of the issuers of these securities generally influence their price and liquidity more than changes in interest rates, when compared to investment-grade debt securities.

*Impact Investing Risk (Catholic Responsible Investments Short Duration Bond Fund, Catholic Responsible Investments Bond Fund and Catholic Responsible Investments Opportunistic Bond Fund)* – Each Fund invests part of its portfolio in securities that align with a proprietary impact investing framework for public fixed-income markets, which may exclude securities of certain issuers for nonfinancial reasons. Because of this, the Funds may forgo some market opportunities available to funds that do not use these criteria.

*Indexing Strategy/Index Tracking Risk (Catholic Responsible Investments Equity Index Fund and Catholic Responsible Investments Small-Cap Fund) –* A Fund that is managed with an indexing investment strategy attempts to track the performance of an unmanaged index of securities, which differs from an actively-managed fund, which typically seeks to outperform a benchmark index. Such Fund generally will buy and will not sell a security included in the benchmark index as long as the security is part of the benchmark index regardless of any sudden or material decline in value or foreseeable material decline in value of the security, even though the Adviser or a sub-adviser may make a different investment decision for other actively managed accounts or portfolios that hold the security. As a result, such Fund's performance may be less favorable than that of a portfolio managed using an active investment strategy. The structure and composition of the benchmark index will affect the performance, volatility, and risk of the index (in absolute terms and by comparison with other indices) and, consequently, the performance, volatility, and risk of the Fund. Such Fund's performance may not match the performance of the benchmark index for a number of reasons. For example, the Fund incurs a number of operating expenses, including taxes, not applicable to the index and incurs costs associated with buying and selling securities, especially when rebalancing the Fund's securities holdings to reflect changes in the composition of the index. As discussed elsewhere in this section, the performance of a Fund managed pursuant to an indexing investment strategy may also be affected because of the impact of the Adviser's Catholic Responsible Investment criteria on the portfolio holdings of the Fund. In addition, the Fund may not be fully invested at times, either as a result of cash flows into or out of the Fund or reserves of cash held by the Fund to meet redemptions. Changes in the composition of the index and regulatory requirements also may impact a Fund's ability to match the return of the index. Index tracking risk may be heightened during times of increased market volatility or other unusual market conditions.

*Index Correlation Risk (Catholic Responsible Investments Multi-Style US Equity Fund)* – Because a portion of the Fund weighs each sector and industry approximately the same as its index, the Fund's ability to broadly reallocate this portion of its portfolio due to changes in outlook for a particular sector or industry is more limited than other actively-managed funds with greater flexibility to overweight or underweight certain sectors and industries due to changes in market conditions. As a result, the Fund's performance may lag the performance of other actively-managed funds with more flexible investment programs.

*Industry Concentration Risk (Catholic Responsible Investments Equity Index Fund and Catholic Responsible Investments Small-Cap Fund) –* Each Fund will concentrate its investments (i.e., hold 25% or more of its total assets) in a particular industry or group of industries to approximately the same extent that its underlying index is so concentrated. Concentrating Fund investments in companies conducting business in the same industry will subject a Fund to a greater risk of loss as a result of adverse economic, business or other developments affecting that industry than if its investments were not so concentrated.

**CATHOLIC RESPONSIBLE INVESTMENTS**

**OCTOBER 31, 2025**

*Inflation Protected Securities Risk (Catholic Responsible Investments Short Duration Bond Fund, Catholic Responsible Investments Bond Fund and Catholic Responsible Investments Opportunistic Bond Fund) –* The value of inflation protected securities, generally will fluctuate in response to changes in "real" interest rates. Real interest rates represent nominal (or stated) interest rates reduced by the expected impact of inflation. The value of an inflation protected security generally decreases when real interest rates rise and generally increases when real interest rates fall. In addition, the principal value of an inflation protected security is periodically adjusted up or down along with the rate of inflation. If the measure of inflation falls, the principal value of the inflation protected security will be adjusted downwards, and consequently, the interest payable on the security will be reduced.

*Initial Public Offering Risk (Catholic Responsible Investments Multi-Style US Equity Fund) — The Fund may invest in initial public offerings ("IPOs"). An IPO is a company's first offering of stock to the public. IPO risk is the risk that the market value of IPO shares will fluctuate considerably due to factors such as the absence of a prior public market, unseasoned trading, the small number of shares available for trading and limited information about a company's* business model, quality of management, earnings growth potential, and other criteria used to evaluate its investment prospects. Accordingly, investments in IPO shares involve greater risks than investments in shares of companies that have traded publicly on an exchange for extended periods of time. Investments in IPO shares may also involve high transaction costs, and are subject to market risk and liquidity risk, which are described elsewhere in this section.

Because of the price volatility of IPO shares, the Fund may choose to hold IPO shares for a very short period of time. This may increase the turnover of the Fund's portfolio and may lead to increased expenses to the Fund, such as commissions and transaction costs. By selling IPO shares, the Fund may realize taxable gains it will subsequently distribute to shareholders. In addition, the market for IPO shares can be speculative and/or inactive for extended periods of time. There is no assurance that the Fund will be able to obtain allocable portions of IPO shares. The limited number of shares available for trading in some IPOs may make it more difficult for the Fund to buy or sell significant amounts of shares without an unfavorable impact on prevailing prices. Investors in IPO shares can be affected by substantial dilution in the value of their shares, by sales of additional shares and by concentration of control in existing management and principal shareholders.

*Interest Rate Risk (Catholic Responsible Investments Ultra Short Bond Fund, Catholic Responsible Investments Short Duration Bond Fund, Catholic Responsible Investments Bond Fund and Catholic Responsible Investments Opportunistic Bond Fund)* — Interest rate risk is the risk that a change in interest rates will cause a fall in the value of fixed income securities, including U.S. Government securities, in which a Fund invests. In a low interest rate environment, the risk of a decline in value of a Fund's portfolio securities associated with rising rates is heightened because there may be a greater likelihood of rates increasing, potentially rapidly. In a declining interest rate environment, a Fund generally will be required to invest available cash in instruments with lower interest rates than those of the current portfolio securities. Although U.S. Government securities are considered to be among the safest investments, they are not guaranteed against price movements due to changing interest rates. Obligations issued by some U.S. Government agencies are backed by the U.S. Treasury, whereas others are backed solely by the ability of the agency to borrow from the U.S. Treasury or by the agency's own resources. Interest rate risk may be heightened for investments in emerging market countries.

*Investment in Underlying Funds Risk (Catholic Responsible Investments Magnus 45/55 Fund, Catholic Responsible Investments Magnus 60/40 Alpha Plus Fund, Catholic Responsible Investments Magnus 60/40 Beta Plus Fund and Catholic Responsible Investments Magnus 75/25 Fund)* — The value of an investment in the Funds is based primarily on the prices of the Underlying Funds in which the Funds invest. In turn, the price of each Underlying Fund is based on the value of its assets. Each Fund, and thus its shareholders, bears its own direct expenses in addition to bearing a proportionate share of expenses of the Underlying Funds, which may make owning shares of such Fund more costly than owning shares of the Underlying Funds directly. Before investing in the Funds, investors should assess the risks associated with the Underlying Funds and the types of investments made by those Underlying Funds. These risks include any combination of the risks described elsewhere in this section, although a Fund's exposure to a particular risk will be proportionate to the Fund's overall asset allocation and Underlying Fund allocation.

*Large-Capitalization Company Risk (Catholic Responsible Investments Equity Index Fund, Catholic Responsible Investments Multi-Style US Equity Fund and Catholic Responsible Investments International Equity Fund) —* If valuations of large-capitalization companies appear to be greatly out of proportion to the valuations of small- or medium-capitalization companies, investors may migrate to the stocks of small- and medium-sized companies. Additionally, larger, more-established companies may be unable to respond quickly to new competitive challenges such as changes in technology and consumer tastes. Larger companies also may not be able to attain the high growth rates of successful smaller companies.

**CATHOLIC RESPONSIBLE INVESTMENTS**

**OCTOBER 31, 2025**

*Liquidity Risk (Catholic Responsible Investments Short-Duration Bond Fund, Catholic Responsible Investments Bond Fund, Catholic Responsible Investments Opportunistic Bond Fund and Catholic Responsible Investments Multi-Style US Equity Fund)* – An illiquid investment is an investment that a Fund reasonably expects cannot be sold or disposed of in current market conditions in 7 calendar days or less without the sale or disposition significantly changing the market value of the investment. Pursuant to Rule 22e-4 under the 1940 Act, a Fund may invest up to 15% of its net assets in illiquid investments. Certain restricted securities that may be resold to institutional investors under Rule 144A under the Securities Act of 1933 and Section 4(2) commercial paper may be deemed liquid under guidelines approved by the Board. The Trust has implemented a liquidity risk management program and related procedures to identify illiquid investments pursuant to Rule 22e-4.

Although the Funds will invest primarily in liquid, publicly traded securities, the Funds may make investments that trade in lower volumes or that otherwise may be illiquid. Also, the Funds may make investments that may become less liquid in response to market developments or adverse investor perceptions. Less liquid or illiquid investments may be difficult to value. An inability to sell one or more portfolio positions can adversely affect the Funds' value or prevent the Funds from being able to take advantage of other investment opportunities.

Liquidity risk may also refer to the risk that the Funds will not be able to pay redemption proceeds within the allowable time period because of unusual market conditions, an unusually high volume of redemption requests or other reasons. Although the Funds retain the ability to meet redemption requests through in-kind exchanges, subject to certain conditions, the Funds may need to raise cash to meet redemption requests through sales of portfolio securities or permissible borrowings. If a Fund is forced to sell securities at an unfavorable time and/or under unfavorable conditions, the Fund may have to lower the selling price, sell other investments, or forgo another, more appealing investment opportunity. Such sales may adversely affect a Fund's NAV*.*

*Market Risk (Catholic Responsible Investments Opportunistic Bond Fund, Catholic Responsible Investments Multi-Style US Equity Fund and Catholic Responsible Investments International Small-Cap Fund)* — The risk that the market value of an investment may move up and down, sometimes rapidly and unpredictably. A Fund's NAV per share will fluctuate with the market prices of its portfolio securities. Market risk may affect a single issuer, an industry, a sector or the equity or bond market as a whole. Markets for securities in which a Fund invests may decline significantly in response to adverse issuer, political, regulatory, market, economic or other developments that may cause broad changes in market value, public perceptions concerning these developments, and adverse investor sentiment or publicity. Similarly, the impact of any epidemic, pandemic or natural disaster, or widespread fear that such events may occur, could negatively affect the global economy, as well as the economies of individual countries, the financial performance of individual companies and sectors, and the markets in general in significant and unforeseen ways. Any such impact could adversely affect the prices and liquidity of the securities and other instruments in which a Fund invests, which in turn could negatively impact the Fund's performance and cause losses on your investment in the Fund. Recent examples include pandemic risks related to COVID-19 and aggressive measures taken worldwide in response by governments, including closing borders, restricting international and domestic travel, and the imposition of prolonged quarantines of large populations, and by businesses, including changes to operations and reducing staff.

*Money Market Securities Risk (Catholic Responsible Investments Ultra Short Bond Fund)* — The value of money market instruments may be affected by changing interest rates and by changes in the credit ratings of the investments. An investment in a money market fund is not a bank deposit and is not insured or guaranteed by any bank, the FDIC or any other government agency. A money market fund's sponsor has no legal obligation to provide financial support to the fund, and there should be no expectation that the sponsor will provide financial support to the fund at any time. Certain money market funds float their net asset value while others seek to preserve the value of investments at a stable net asset value (typically, $1.00 per share). An investment in a money market fund, even an investment in a fund seeking to maintain a stable net asset value per share, is not guaranteed and it is possible for the Fund to lose money by investing in these and other types of money market funds. Under certain circumstances where a money market fund experiences heightened redemptions, it may be required to impose a mandatory liquidity fee on amounts the Fund redeems from the money market fund (i.e., impose a liquidity fee). In addition, a money market fund may impose a liquidity fee of up to 2% on amounts the Fund redeems from the money market fund during circumstances where the money market fund's board of directors determines such fee would be in the money market fund's best interests. These measures may result in an investment loss. Money market funds and the securities they invest in are subject to comprehensive regulations. The regulations governing money market funds were recently amended in July 2023, and their implementation and interpretation, as well as enforcement, may affect the manner of operation, performance and/or yield of money market funds.

**CATHOLIC RESPONSIBLE INVESTMENTS**

**OCTOBER 31, 2025**

*Mortgage-Backed Securities Risk (Catholic Responsible Investments Ultra Short Bond Fund, Catholic Responsible Investments Short Duration Bond Fund, Catholic Responsible Investments Bond Fund and Catholic Responsible Investments Opportunistic Bond Fund)* — Mortgage-backed securities are fixed income securities representing an interest in a pool of underlying mortgage loans. Mortgage-backed securities are sensitive to changes in interest rates, but may respond to these changes differently from other fixed income securities due to the possibility of prepayment of the underlying mortgage loans. As a result, it may not be possible to determine in advance the actual maturity date or average life of a mortgage-backed security. Rising interest rates tend to discourage refinancing, with the result that the average life and volatility of the security will increase, exacerbating its decrease in market price. When interest rates fall, however, mortgage-backed securities may not gain as much in market value because of the expectation of additional mortgage prepayments, which must be reinvested at lower interest rates.

*Non-Diversification Risk (Catholic Responsible Investments Equity Index Fund and Catholic Responsible Investments Small-Cap Fund) —*To the extent the Funds become non-diversified, the Funds may invest a relatively high percentage of their assets in a limited number of issuers. Therefore, when the Funds are non-diversified, the Funds' performance may be more vulnerable to changes in the market value of a single issuer or group of issuers and more susceptible to risks associated with a single economic, political or regulatory occurrence than when the Funds' invested assets are diversified.

 

*Operational and Cybersecurity Risk (Catholic Responsible Investments Multi-Style US Equity Fund)* — The Fund, its service providers, including the Adviser and Sub-Advisers, and other market participants increasingly depend on complex information technology and communications systems to conduct business functions. These systems are subject to a number of different threats or risks that could adversely affect the Fund and its shareholders, despite the efforts of the Fund and its service providers to adopt technologies, processes and practices intended to mitigate these risks.

For example, unauthorized third parties may attempt to improperly access, modify, disrupt the operations of or prevent access to these systems or data within them (a "cyber-attack"), whether systems of the Fund, its service providers, counterparties or other market participants. Power or communications outages, acts of god, information technology equipment malfunctions, operational errors and inaccuracies within software or data processing systems may also disrupt business operations or impact critical data. Market events also may occur at a pace that overloads current information technology and communication systems and processes of the Fund, its service providers or other market participants, impacting the ability to conduct the Fund's operations. Cyber-attacks, disruptions or failures that affect the Fund's service providers or counterparties may adversely affect the Fund and its shareholders, including by causing losses for the Fund or impairing Fund operations. For example, the Fund's service providers' assets or sensitive or confidential information may be misappropriated, data may be corrupted and operations may be disrupted (e.g., cyber-attacks or operational failures may cause the release of private shareholder information or confidential Fund information, interfere with the processing of shareholder transactions, impact the ability to calculate the Fund's NAV and impede trading). In addition, cyber-attacks, disruptions or failures may cause reputational damage and subject the Fund's service providers to regulatory fines, litigation costs, penalties or financial losses, reimbursement or other compensation costs and/or additional compliance costs. While the Fund and its service providers may establish business continuity and other plans and processes to address the possibility of cyber-attacks, disruptions or failures, there are inherent limitations in such plans and systems, including that they do not apply to third parties, such as other market participants, as well as the possibility that certain risks have not been identified or that unknown threats may emerge in the future. The Fund's service providers may also incur substantial costs for cybersecurity risk management, including insurance, in order to prevent or mitigate future cyber security incidents, and the Fund and its shareholders could be negatively impacted as a result of such costs. The Fund, the Adviser and the Sub-Advisers have limited ability to prevent or mitigate cyber security incidents affecting third-party service providers and such third-party service providers may have limited indemnification obligations to the Fund, the Adviser or the Sub-Advisers. Issuers of securities in which the Fund invests are also subject to cyber security risks, and the value of these securities could decline if the issuers experience cyber-attacks or other cyber-failures. Similar types of operational and technology risks are also present for issuers of securities or other instruments in which the Fund invests, which could result in material adverse consequences for such issuers, and may cause the Fund's investments to lose value. In addition, cyber-attacks involving the Fund's counterparties could affect such counterparties' ability to meet their obligations to the Fund, which may result in losses to the Fund and its shareholders. Furthermore, as a result of cyber-attacks, disruptions or failures, an exchange or market may close or issue trading halts on specific securities or the entire market, which may result in the Fund being, among other things, unable to buy or sell certain securities or unable to accurately price its investments. The Fund cannot directly control any cybersecurity plans and systems put in place by its service providers, Fund counterparties, issuers in which the Fund invests or securities markets and exchanges.

**CATHOLIC RESPONSIBLE INVESTMENTS**

**OCTOBER 31, 2025**

*Portfolio Turnover Risk (Catholic Responsible Investments Ultra Short Bond Fund, Catholic Responsible Investments Short-Duration Bond Fund, Catholic Responsible Investments Bond Fund, Catholic Responsible Investments Opportunistic Bond Fund and Catholic Responsible Investments Multi-Style US Equity Fund)* — Due to its investment strategy, a Fund may buy and sell securities frequently. Such a strategy often involves higher expenses, including brokerage commissions, and may increase the amount of capital gains (in particular, short-term capital gains) realized by a Fund. Shareholders may pay tax on such capital gains.

*Prepayment and Extension Risk (Catholic Responsible Investments Ultra Short Bond Fund, Catholic Responsible Investments Short Duration Bond Fund, Catholic Responsible Investments Bond Fund and Catholic Responsible Investments Opportunistic Bond Fund) —* When interest rates fall, issuers of high interest debt obligations may pay off the debts earlier than expected (prepayment risk), and a Fund may have to reinvest the proceeds at lower yields. When interest rates rise, issuers of lower interest debt obligations may pay off the debts later than expected (extension risk), thus keeping a Fund's assets tied up in lower interest debt obligations.

*Quantitative Strategy Risk (Catholic Responsible Investments International Equity Fund)* — A quantitative investment strategy generally involves the use of computers to implement a systematic or rules-based approach to selecting investments based on specific measurable factors. Due to the significant role technology plays in such strategies, they carry the risk of unintended or unrecognized issues or flaws in the design, coding, implementation or maintenance of the computer programs or technology used in the development and implementation of the quantitative strategy. These issues or flaws, which can be difficult to identify, may result in the implementation of a portfolio that is different from that which was intended, and could negatively impact investment returns. Such risks should be viewed as an inherent element of investing in an investment strategy that relies heavily upon quantitative models and computerization.

*Repurchase Agreement Risk (Catholic Responsible Investments Ultra Short Bond Fund, Catholic Responsible Investments Short Duration Bond Fund, Catholic Responsible Investments Bond Fund and Catholic Responsible Investments Opportunistic Bond Fund)* — Under a repurchase agreement, the seller of a security to a Fund agrees to repurchase the security at a mutually agreed-upon time and price. If the seller in a repurchase agreement transaction defaults on its obligation under the agreement, a Fund may suffer delays and incur costs or lose money in exercising its rights under the agreement.

*Sector and Industry Focus Risk (Catholic Responsible Investments Multi-Style US Equity Fund) — Because the Fund may, from time to time, be more heavily invested in particular sectors or industries, the value of its shares may be especially sensitive to factors and economic risks that specifically affect those sectors or industries. As a result, the Fund's share price may at times fluctuate more widely than the value of shares of a mutual fund that invests in a broader range of sectors or industries.*

*Small- and Mid-Capitalization Company Risk (Catholic Responsible Investments Multi-Style US Equity Fund and Catholic Responsible Investments International Equity Fund)* — Investing in equity securities of small- and mid-capitalization companies often involves greater risk than is customarily associated with investments in larger capitalization companies. This increased risk may be due to the greater business risks of smaller size companies, limited markets and financial resources, narrow product lines and the frequent lack of depth of management. Stock prices of smaller companies may be based in substantial part on future expectations rather than current achievements. The securities of smaller companies are often traded over-the-counter ("OTC") and, even if listed on a national securities exchange, may not be traded in volumes typical for that exchange. Consequently, the securities of smaller companies may be less liquid, may have limited market stability and may be subject to more severe, abrupt or erratic market movements than securities of larger, more established companies or the market averages in general. Further, smaller companies may have less publicly available information and, when available, it may be inaccurate or incomplete.

**CATHOLIC RESPONSIBLE INVESTMENTS**

**OCTOBER 31, 2025**

*Small-Capitalization Company Risk (Catholic Responsible Investments Small-Cap Fund and Catholic Responsible Investments International Small-Cap Fund)* — The small-capitalization companies in which a Fund invests may be more vulnerable to adverse business or economic events than larger, more established companies. In particular, investments in these small-sized companies may pose additional risks, including liquidity risk, because these companies tend to have limited product lines, markets and financial resources, and may depend upon a relatively small management group. Therefore, small-capitalization stocks may be more volatile than those of larger companies. These securities may be traded OTC or listed on an exchange.

*U.S. Government Securities Risk (Catholic Responsible Investments Ultra Short Bond Fund, Catholic Responsible Investments Short Duration Bond Fund, Catholic Responsible Investments Bond Fund and Catholic Responsible Investments Opportunistic Bond Fund)* — A Fund's investment in U.S. government obligations may include securities issued or guaranteed as to principal and interest by the U.S. government, or its agencies or instrumentalities. Obligations issued by some U.S. government agencies are backed by the U.S. Treasury, whereas others are backed solely by the ability of the agency to borrow from the U.S. Treasury or by the agency's own resources. There can be no assurance that the U.S. government would provide financial support to its agencies or instrumentalities (including government-sponsored enterprises) where it is not obligated to do so. In addition, U.S. government securities are not guaranteed against price movements due to changing interest rates.

*Value Investment Style Risk (Catholic Responsible Investments Multi-Style US Equity Fund, Catholic Responsible Investments International Equity Fund and Catholic Responsible Investments International Small-Cap Fund)* — Value investing focuses on companies with stocks that appear undervalued in light of factors such as the company's earnings, book value, revenues or cash flow. If the Adviser's or a sub-adviser's assessment of a company's value or prospects for exceeding earnings expectations or market conditions is wrong, a Fund could suffer losses or produce poor performance relative to other funds. In addition, "value stocks" can continue to be undervalued by the market for long periods of time.

*When-Issued and Delayed Delivery Securities Risk (Catholic Responsible Investments Ultra Short Bond Fund)* — When-issued and delayed delivery securities and forward commitments involve the risk that the security the Fund buys will lose value prior to its delivery. There also is the risk that the security will not be issued or that the other party to the transaction will not meet its obligation. If this occurs, the Fund may lose both the investment opportunity for the assets it set aside to pay for the security and any gain in the security's price.

**11. In-Kind Transfers of Securities:**

The Funds may issue or redeem shares in-kind. These securities and cash, if any, are transferred at their current value on the date of such transactions. Any recognized gain is included on the Statements of Operations under Net Realized Gain (Loss) on Investments. There were no in-kind transfers during the year ended October 31, 2025.

**12. Recent Accounting Pronouncement:**

In December 2023, the FASB issued Accounting Standards Update 2023-09 ("ASU 2023-09"), Income Taxes (Topic 740) Improvements to Income Tax Disclosures, which amends quantitative and qualitative income tax disclosure requirements in order to increase disclosure consistency, bifurcate income tax information by jurisdiction and remove information that is no longer beneficial. ASU 2023-09 is effective for annual periods beginning after December 15, 2024, and early adoption is permitted. Fund Management is evaluating the impacts of these changes on the Funds' financial statements.

**13. Subsequent Events:**

The Funds have evaluated the need for additional disclosures and/or adjustments resulting from subsequent events through the date the financial statements were issued. Based on this evaluation, no additional disclosures and/or adjustments, other than that listed below, were required to the financial statements.

**CATHOLIC RESPONSIBLE INVESTMENTS**

**OCTOBER 31, 2025**

**REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM**

**To the Shareholders and Board of Trustees of**

**Catholic Responsible Investments Funds**

**Opinion on the Financial Statements**

We have audited the accompanying statements of assets and liabilities, including the schedules of investments, of Catholic Responsible Investments Funds comprising Catholic Responsible Investments Ultra Short Bond Fund, Catholic Responsible Investments Short Duration Bond Fund, Catholic Responsible Investments Bond Fund, Catholic Responsible Investments Opportunistic Bond Fund, Catholic Responsible Investments Equity Index Fund, Catholic Responsible Investments Small-Cap Fund, Catholic Responsible Investments Multi-Style US Equity Fund, Catholic Responsible Investments International Equity Fund, Catholic Responsible Investments International Small-Cap Fund, Catholic Responsible Investments Magnus 45/55 Fund, Catholic Responsible Investments Magnus 60/40 Alpha Plus Fund, Catholic Responsible Investments Magnus 60/40 Beta Plus Fund, and Catholic Responsible Investments Magnus 75/25 Fund (the "Funds") as of October 31, 2025, the related statements of operations for the year then ended, the statements of changes in net assets for each of the two years in the period then ended, the financial highlights for each of the three years in the period then ended, and the related notes (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Funds as of October 31, 2025, the results of their operations for the year then ended, the changes in net assets for each of the two years in the period then ended, and the financial highlights for each of the three years in the period then ended, in conformity with accounting principles generally accepted in the United States of America.

The Funds' financial highlights for the period ended October 31, 2022, were audited by other auditors whose report dated December 29, 2022, expressed an unqualified opinion on those financial highlights.

**Basis for Opinion**

These financial statements are the responsibility of the Funds' management. Our responsibility is to express an opinion on the Funds' financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) ("PCAOB") and are required to be independent with respect to the Funds in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our procedures included confirmation of securities owned as of October 31, 2025, by correspondence with the custodian, agent banks and brokers; when replies were not received from brokers, we performed other auditing procedures. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

We have served as the Funds' auditor since 2023.

![](fp0096588-1_02.jpg)

COHEN & COMPANY, LTD.

Philadelphia, Pennsylvania

December 29, 2025

**CATHOLIC RESPONSIBLE INVESTMENTS**

**OCTOBER 31, 2025**

**NOTICE TO SHAREHOLDERS (Unaudited)**

For shareholders that do not have an October 31, 2025 tax year end, this notice is for informational purposes only. For shareholders with a tax year end October 31, 2025, please consult your tax advisor as to the pertinence of this notice. For the fiscal year ended October 31, 2025, the Funds are designating the following items with regard to distributions paid during the period.

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| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **<br> **Long Term**<br> **Capital Gain**<br> **Distribution**  | **Ordinary**<br> **Income**<br> **Distributions**  | **Total <br>Distributions** | **Dividends**<br> **Qualifying**<br> **for Corporate**<br> **Dividend**<br> **Receivable**<br> **Deduction<sup>(1)</sup>**  | **Qualifying**<br> **Dividend**<br> **Income<sup>(2)</sup>**  | **U.S.**<br> **Government**<br> **Interest<sup>(3)</sup>**  | **Qualified**<br> **Interest**<br> **Income<sup>(4)</sup>**  | **Qualified**<br> **Short**<br> **Term**<br> **Capital**<br> **Gain<sup>(5)</sup>**  | **Qualifying**<br> **Business**<br> **Income<sup>(6)</sup>**  |
| Catholic Responsible Investments Ultra Short Bond Fund | 0.47% | 99.53% | 100.00% | 0.00% | 0.00% | 31.46% | 44.79% | 100.00% | 0.00% |
| Catholic Responsible Investments Short Duration Bond Fund | 0.00% | 100.00% | 100.00% | 0.00% | 0.00% | 20.83% | 92.57% | 0.00% | 0.00% |
| Catholic Responsible Investments Bond Fund | 0.00% | 100.00% | 100.00% | 0.00% | 0.00% | 26.49% | 94.14% | 0.00% | 0.00% |
| Catholic Responsible Investments Opportunistic Bond Fund | 0.00% | 100.00% | 100.00% | 0.00% | 0.00% | 21.88% | 94.98% | 0.00% | 0.00% |
| Catholic Responsible Investments Equity Index Fund | 45.28% | 54.72% | 100.00% | 83.73% | 88.81% | 0.00% | 0.62% | 0.00% | 4.67% |
| Catholic Responsible Investments Small-Cap Fund | 47.01% | 52.99% | 100.00% | 43.07% | 44.00% | 0.00% | 1.08% | 0.00% | 23.50% |
| Catholic Responsible Investments Multi-Style US Equity Fund | 83.86% | 16.14% | 100.00% | 89.81% | 95.19% | 0.00% | 5.91% | 100.00% | 2.25% |
| Catholic Responsible Investments International Equity Fund | 70.13% | 29.87% | 100.00% | 0.36% | 82.48% | 0.00% | 3.44% | 0.00% | 0.00% |
| Catholic Responsible Investments International Small-Cap Fund | 0.00% | 100.00% | 100.00% | 72.83% | 94.73% | 0.00% | 4.08% | 0.00% | 0.00% |
| Catholic Responsible Investments Magnus 45/55 Fund | 0.00% | 100.00% | 100.00% | 16.31% | 23.68% | 0.81% | 68.04% | 100.00% | 0.51% |
| Catholic Responsible Investments Magnus 60/40 Alpha Plus Fund | 26.26% | 73.74% | 100.00% | 28.14% | 23.56% | 14.19% | 57.28% | 100.00% | 0.58% |
| Catholic Responsible Investments Magnus 60/40 Beta Plus Fund | 18.00% | 82.00% | 100.00% | 27.58% | 40.14% | 15.98% | 53.30% | 0.00% | 1.10% |
| Catholic Responsible Investments Magnus 75/25 Fund | 12.95% | 87.05% | 100.00% | 26.63% | 40.41% | 6.84% | 30.26% | 100.00% | 0.86% |

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**CATHOLIC RESPONSIBLE INVESTMENTS**

**OCTOBER 31, 2025**

&nbsp;&nbsp;&nbsp;&nbsp;(1) Qualifying
 dividends represent dividends which qualify for the corporate dividends received deduction and is reflected as a percentage of ordinary
 Income distributions (the total of short term capital gain and net investment income distributions).

&nbsp;&nbsp;&nbsp;&nbsp;(2) The

 Act of 2003 and is reflected as a percentage of ordinary income distributions (the total of short term capital gain and net investment
 income distributions). It is the intention of each of the aforementioned funds to designate the maximum amount permitted by law.

&nbsp;&nbsp;&nbsp;&nbsp;(3) "U.S.
 Government Interest" represents the amount of interest that was derived from U.S. Government obligations and distributed during
 the fiscal year. This amount is reflected as a percentage of total ordinary income distributions (the total of short term capital gain
 and net investment income distributions). Generally, interest from direct U.S. Government obligations is exempt from state income tax.
 However, for shareholders who are residents of California, Connecticut and New York, the statutory threshold requirements were not satisfied
 to permit exemption of these amounts from state income.

&nbsp;&nbsp;&nbsp;&nbsp;(4) The percentage

 and is a percentage of ordinary income distributions that are exempt from U.S. withholding tax when paid for foreign investors.

&nbsp;&nbsp;&nbsp;&nbsp;(5) The

 Act of 2004 and is reflected as a percentage of short-term capital gain distributions that is exempt from U.S. withholding tax when paid
 to foreign investors.

&nbsp;&nbsp;&nbsp;&nbsp;(6) The
 percentage of this column represents that amount of ordinary dividend income that qualified for 20% Business Income Deduction.

The Funds intend to pass through foreign tax credit to shareholders. For the fiscal year ended October 31, 2025, the amount of foreign source income and foreign tax credit are as follows:

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| | | |
|:---|:---|:---|
|  | Foreign Source Income | Foreign Tax Credit Pass Through |
| Catholic Responsible Investments International Equity Fund | $28209011 | $3969797 |
| Catholic Responsible Investments International Small Cap Fund | 2780218 | 496322 |
| Catholic Responsible Investments Magnus 45/55 Fund | 204734 | 16339 |
| Catholic Responsible Investments Magnus 60/40 Alpha Plus Fund | 2943815 | 235137 |
| Catholic Responsible Investments Magnus 60/40 Beta Plus Fund | 1112304 | 88708 |
| Catholic Responsible Investments Magnus 75/25 Fund | 569487 | 49605 |

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The information reported herein may differ from the information and distributions taxable to the shareholders for the calendar year ending December 31, 2025. Complete information will be computed and reported in conjunction with your 2025 Form 1099-DIV.

**CATHOLIC RESPONSIBLE INVESTMENTS**

**OCTOBER 31, 2025 (Unaudited)**

**OTHER INFORMATION (FORM N-CSR ITEMS 8-11)**

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

Not applicable.

**Item 9. Proxy Disclosures for Open-End Management 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 Management Investment Companies.**

Included within the Statement(s) of Operations of the financial statements.

**Item 11. Statement Regarding Basis for Approval of Investment Advisory Contract.**

Pursuant to Section 15 of the Investment Company Act of 1940 (the "1940 Act"), the Funds' advisory and sub-advisory agreements (the "Agreements") must be renewed at least annually after their initial two-year term: (i) by the vote of the Board of Trustees (the "Board" or the "Trustees") of Catholic Responsible Investments Funds (the "Trust") or by a vote of a majority of the shareholders of the Funds; and (ii) by the vote of a majority of the Trustees who are not parties to the Agreements or "interested persons" of any party thereto, as defined in the 1940 Act (the "Independent Trustees"), cast in person at a meeting called for the purpose of voting on such renewal.

A Board meeting was held on August 19–20, 2025 to decide whether to renew the following Agreements for additional one-year terms:

● &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; the advisory agreement between Christian Brothers Investment Services, Inc. (the "Adviser") and the Trust, on behalf of the Funds; and

● &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; the sub-advisory agreements between the Adviser and certain sub-advisers on behalf of the Funds shown in the following table (each, a "Sub-Adviser" and together, the "Sub-Advisers"), pursuant to which the Sub-Advisers serve as investment sub-advisers to the Funds:

---

| | |
|:---|:---|
| **Sub-Adviser** | **Fund(s)** |
| Brandywine Global Investment Management, LLC | Catholic Responsible Investments Opportunistic Bond Fund |
| | Catholic Responsible Investments Bond Fund |
| Causeway Capital Management LLC | Catholic Responsible Investments International Equity Fund |
| Lazard Asset Management LLC | Catholic Responsible Investments International Small-Cap Fund |
| Principal Global Investors, LLC | Catholic Responsible Investments International Equity Fund |
| Wellington Management Company LLP | Catholic Responsible Investments Ultra Short Bond Fund |
| | Catholic Responsible Investments Short Duration Bond Fund |

---

**CATHOLIC RESPONSIBLE INVESTMENTS**

**OCTOBER 31, 2025 (Unaudited)**

In preparation for the meeting, the Trustees requested that the Adviser and the Sub-Advisers furnish information necessary to evaluate the terms of the Agreements. Prior to the meeting, the Independent Trustees of the Funds met to review and discuss the information provided and submitted a request for additional information to the Adviser and the Sub-Advisers, and information was provided in response to this request. The Trustees used this information, as well as other information that the Adviser, the Sub-Advisers and other service providers of the Funds presented or submitted to the Board at the meeting and other meetings held during the prior year, to help them decide whether to renew the Agreements for an additional year.

Specifically, the Board requested and received written materials from the Adviser, the Sub-Advisers and other service providers of the Funds regarding: (i) the nature, extent and quality of the Adviser's and the Sub-Advisers' services; (ii) the Adviser's and the Sub-Advisers' investment management personnel; (iii) the Adviser's and the Sub-Advisers' operations and information about their financial condition, capitalization, profitability or financial viability to advise or sub-advise the Funds; (iv) the Adviser's and the Sub-Advisers' brokerage practices (including any soft dollar arrangements) and investment strategies; (v) the Funds' advisory fees paid to the Adviser and the Sub-Advisers and the Funds' overall fees and operating expenses compared with peer groups of mutual funds; (vi) the level of the Adviser's and the Sub-Advisers' profitability from their relationships with the Funds, including both direct and indirect benefits accruing to the Adviser and the Sub-Advisers and their affiliates; (vii) the Adviser's and the Sub-Advisers' potential economies of scale; (viii) the Adviser's and the Sub-Advisers' compliance programs, including a description of material compliance matters and material compliance violations; (ix) the Adviser's and the Sub-Advisers' policies on and compliance procedures for personal securities transactions; and (x) the Funds' performance compared with peer groups of mutual funds and the Funds' benchmark indices.

Representatives from the Adviser and the Sub-Advisers, along with other Fund service providers, presented additional information and participated in question and answer sessions at the Board meeting to help the Trustees evaluate the Adviser's and the Sub-Advisers' services, fees and other aspects of the Agreements. The Independent Trustees received advice from independent counsel and met in executive sessions outside the presence of Fund management, the Adviser and the Sub-Advisers.

At the Board meeting, the Trustees, including all of the Independent Trustees, based on their evaluation of the information provided by the Adviser, the Sub-Advisers and other service providers of the Funds, renewed the Agreements. In considering the renewal of the Agreements, the Board considered various factors that they determined were relevant, including: (i) the nature, extent and quality of the services provided by the Adviser and the Sub-Advisers; (ii) the investment performance of the Funds and the Adviser and the Sub-Advisers; (iii) the costs of the services provided and profits realized by the Adviser and the Sub-Advisers from their relationships with the Funds, including both direct and indirect benefits accruing to the Adviser and the Sub-Advisers and their affiliates; (iv) the extent to which economies of scale are being realized by the Adviser and the Sub-Advisers; and (v) whether fee levels reflect such economies of scale for the benefit of Fund investors, as discussed in further detail below.

**Nature, Extent and Quality of Services Provided by the Adviser and the Sub-Advisers**

In considering the nature, extent and quality of the services provided by the Adviser and the Sub-Advisers, the Board reviewed the portfolio management services provided by the Adviser and the Sub-Advisers to the Funds, including the quality and continuity of the Adviser's and the Sub-Advisers' portfolio management personnel, the resources of the Adviser and the Sub-Advisers, and the Adviser's and the Sub-Advisers' compliance histories and compliance programs. The Trustees reviewed the terms of the Agreements. The Trustees also reviewed the Adviser's and the Sub-Advisers' investment and risk management approaches for the Funds. The Trustees considered that the Adviser supervises and monitors the performance of the Sub-Advisers. The most recent investment adviser registration forms ("Form ADV") for the Adviser and the Sub-Advisers were available to the Board, as were the responses of the Adviser and the Sub-Advisers to a detailed series of questions which included, among other things, information about the investment advisory services provided by the Adviser and the Sub-Advisers to the Funds.

**CATHOLIC RESPONSIBLE INVESTMENTS**

**OCTOBER 31, 2025 (Unaudited)**

The Trustees also considered other services provided to the Funds by the Adviser and the Sub-Advisers such as selecting broker-dealers for executing portfolio transactions, monitoring adherence to the Funds' investment restrictions, and monitoring compliance with various Fund policies and procedures and with applicable securities laws and regulations. Based on the factors above, as well as those discussed below, the Board concluded, within the context of its full deliberations, that the nature, extent and quality of the services provided to the Funds by the Adviser and the Sub-Advisers were sufficient to support renewal of the Agreements.

**Investment Performance of the Funds, the Adviser and the Sub-Advisers**

The Board was provided with regular reports regarding the Funds' performance over various time periods. The Trustees also reviewed reports prepared by the Funds' administrator comparing the Funds' performance to their benchmark indices and peer groups of mutual funds as classified by Lipper, an independent provider of investment company data, over various periods of time. Representatives from the Adviser and the Sub-Advisers provided information regarding and led discussions of factors impacting the performance of the Funds, outlining current market conditions and explaining their expectations and strategies for the future. The Trustees determined that the Funds' performance was satisfactory, or, where the Funds' performance was materially below their benchmarks and/or peer groups, the Trustees were satisfied by the reasons for the underperformance and/or the steps taken by the Adviser and the Sub-Advisers in an effort to improve the performance of the Funds. Based on this information, the Board concluded, within the context of its full deliberations, that the investment results that the Adviser and the Sub-Advisers had been able to achieve for the Funds were sufficient to support renewal of the Agreements.

**Costs of Advisory Services, Profitability and Economies of Scale**

In considering the advisory fees payable by the Funds to the Adviser and the Sub-Advisers, as well as the fees payable by the Adviser to the Sub-Advisers, the Trustees reviewed, among other things, a report of the advisory fees paid to the Adviser and the Sub-Advisers. The Trustees also reviewed reports prepared by the Funds' administrator comparing the Funds' net and gross expense ratios and advisory fees to those paid by peer groups of mutual funds as classified by Lipper. The Trustees reviewed the management fees charged by the Adviser and applicable Sub-Advisers to other clients with comparable mandates. The Trustees considered any differences in management fees and took into account the respective demands, resources and complexity associated with the Funds and other client accounts as well as the extensive regulatory, compliance and tax regimes to which the Funds are subject. The Trustees also considered that the Adviser, not the Funds, paid the Sub-Advisers pursuant to the sub-advisory agreements and that the fees payable to the Sub-Advisers reflected arms-length negotiations between the Adviser and the Sub-Advisers. The Trustees evaluated both the fee under the sub-advisory agreements and the portion of the fee under the advisory agreement retained by the Adviser. The Board concluded, within the context of its full deliberations, that the advisory fees were reasonable in light of the nature and quality of the services rendered by the Adviser and the Sub-Advisers.

The Trustees reviewed the costs of services provided by and the profits realized by the Adviser and the Sub-Advisers from their relationship with the Funds, including both direct benefits and indirect benefits, such as research and brokerage services received under soft dollar arrangements, accruing to the Adviser and the Sub-Advisers and their affiliates. The Trustees considered how the Adviser's and the Sub-Advisers' profitability was affected by factors such as their organizational structures and methods for allocating expenses. The Trustees concluded that the profit margins of the Adviser and the Sub-Advisers with respect to the management of the Funds were not unreasonable. The Board also considered the Adviser's and the Sub-Advisers' commitment to managing the Funds and the Adviser's willingness to continue its expense limitation and fee waiver arrangements with the Funds.

The Trustees considered the Adviser's and Sub-Advisers' views relating to economies of scale in connection with the Funds as Fund assets grow and the extent to which the benefits of any such economies of scale are shared with the Funds and Fund shareholders. The Board considered the existence of any economies of scale and whether those were passed along to the Funds' shareholders through a graduated advisory fee schedule or other means, including fee waivers. The Trustees recognized that economies of scale are difficult to identify and quantify and are rarely identifiable on a fund-by-fund basis. Based on this evaluation, the Board concluded that the advisory fees were reasonable in light of the information that was provided to the Trustees by the Adviser and the Sub-Advisers with respect to economies of scale.

**CATHOLIC RESPONSIBLE INVESTMENTS**

**OCTOBER 31, 2025 (Unaudited)**

**Renewal of the Agreements**

Based on the Board's deliberations and its evaluation of the information described above and other factors and information it believed relevant in the exercise of its reasonable business judgment, the Board, including all of the Independent Trustees, with the assistance of Fund counsel and Independent Trustees' counsel, unanimously concluded that the terms of the Agreements, including the fees payable thereunder, were fair and reasonable and agreed to renew the Agreements for another year. In its deliberations, the Board did not identify any absence of information as material to its decision, or any particular factor (or conclusion with respect thereto) or single piece of information that was all-important, controlling or determinative of its decision, but considered all of the factors together, and each Trustee may have attributed different weights to the various factors (and conclusions with respect thereto) and information.

**CATHOLIC RESPONSIBLE INVESTMENTS**

**OCTOBER 31, 2025 (Unaudited)**

**The Board's Considerations in Approving Amendments to the Mercer Sub-Advisory Agreement**

At a meeting held on February 25–26, 2025 (the "February Meeting"), the members of the Board of Trustees (the "Board" or the "Trustees") of Catholic Responsible Investments Funds (the "Trust" or the "Funds") considered certain amendments to the Funds' sub-advisory agreement between Christian Brothers Investment Services, Inc., the Funds' investment adviser (the "Adviser") and Mercer Investments LLC ("Mercer"), the Funds' primary sub-adviser (the "Mercer Agreement" and, as amended, the "Amended and Restated Mercer Agreement"). The amendments revise the description of the advisory services performed by Mercer under the Amended and Restated Mercer Agreement and remove references to certain non-advisory services, which Mercer would provide under a separate non-advisory Services Agreement. The Board approved the Amended and Restated Mercer Agreement pursuant to a "managers of managers" exemptive order obtained from the SEC that permits the Adviser to, among other things, materially amend the Funds' sub-advisory agreements with the approval of the Board, but without obtaining shareholder approval, if doing so does not result in an increase in the aggregate advisory fee rate payable by a Fund.

When considering whether to approve the Amended and Restated Mercer Agreement, the Board took into account, among other information, the information it received in connection with the February Meeting and discussions with representatives from the Adviser, Mercer, the Funds' administrator, counsel to the Funds and counsel to the members of the Board who are not parties to the Amended and Restated Mercer Agreement or "interested persons" of any party thereto, as defined in the Investment Company Act of 1940, as amended (the "Independent Trustees"), regarding the terms of the amendments. The Trustees also took into account their prior findings and conclusions relating to the initial approval of the Mercer Agreement at a meeting of the Board held on May 20–21, 2024 (the "May 2024 Meeting"). In particular, the Board considered, among other things, that the Amended and Restated Mercer Agreement clarified the advisory services that Mercer would perform thereunder and the fees payable for those advisory services relative to non-advisory services. The Board also took into account that although the amendments would change the fees paid to Mercer for advisory services provided to the Funds, such changes would not result in an increase to the aggregate advisory fee rates payable by the Funds because the Adviser, and not the Funds, would pay Mercer pursuant to the Amended and Restated Mercer Agreement, and that the fees payable to Mercer reflected an arms-length negotiation between the Adviser and Mercer.

Because Mercer had not yet provided services to the Funds for a full year as of the February Meeting, its performance record with respect to the Funds was limited and it was not possible to determine with a reasonable measure of certainty the profitability that Mercer might achieve with respect to the Funds or the extent to which economies of scale would be realized by Mercer as the assets of the Funds grow. Accordingly, the Trustees did not make any conclusions regarding Mercer's performance with respect to the Funds, Mercer's profitability, or the extent to which economies of scale would be realized by Mercer as the assets of the Funds grow, but will do so during future considerations of the Amended and Restated Mercer Agreement.

Based on the Board's deliberations and its evaluation of the information described above and other factors and information it believed relevant in the exercise of its reasonable business judgment, the Board, including all of the Independent Trustees, with the assistance of Fund counsel and Independent Trustees' counsel, unanimously concluded that the amendments to the Mercer Agreement were fair and reasonable. In its deliberations, the Board did not identify any absence of information as material to its decision, or any particular factor (or conclusion with respect thereto) or single piece of information that was all-important, controlling or determinative of its decision, but considered all of the factors together, and each Trustee may have attributed different weights to the various factors (and conclusions with respect thereto) and information.

**NOTES** 

**NOTES** 

**NOTES** 

**Catholic Responsible Investments Funds**

**Investment Adviser:**

Christian Brothers Investment Services, Inc.

125 S. Wacker Drive

Suite 2400

Chicago, Illinois 60606

**Administrator:**

SEI Investments Global Fund Services

One Freedom Valley Drive

Oaks, Pennsylvania 19456

**Distributor:**

SEI Investments Distribution Co.

One Freedom Valley Drive

Oaks, Pennsylvania 19456

**Legal Counsel:**

Morgan, Lewis & Bockius LLP

2222 Market Street

Philadelphia, Pennsylvania 19103

This information must be preceded or accompanied by a current prospectus for the Funds described.

CRI-AR-001-0400

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

Included under Item 7.

**Item 9. Proxy Disclosures for Open-End Management Investment Companies.**

Included under Item 7.

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

Included under Item 7.

**Item 11. Statement Regarding Basis for Approval of Investment Advisory Contract.**

Included under Item 7.

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

Not applicable to open-end management investment companies.

**Item 13. Portfolio Managers of Closed-End Management Investment Companies.**

Not applicable to open-end management investment companies.

**Item 14. Purchases of Equity Securities by Closed-End Management Company and Affiliated Purchasers.**

Not applicable to open-end management investment companies.

**Item 15. Submission of Matters to a Vote of Security Holders.**

There have been no changes to the procedures by which shareholders may recommend nominees to the Registrant's Board of Trustees during the period covered by this report.

**Item 16. Controls and Procedures.**

(a) The
 Registrant's principal executive and principal financial officers, or persons performing similar functions, have concluded that the Registrant's
 disclosure controls and procedures, as defined in Rule 30a-3(c) under the Act (17 CFR § 270.30a-3(c)), as of a date within 90 days
 of the filing date of the report, are effective based on the evaluation of these controls and procedures required by Rule 30a-3(b) under
 the Act (17 CFR § 270.30a-3(b)) and Rule 13a-15(b) or Rule 15d-15(b) under the Securities Exchange Act of 1934, as amended (17 CFR
 § 240.13a-15(b) or § 240.15d-15(b)).

(b) There
 has been no change in the Registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the Act (17 CFR §
 270.30a-3(d)) 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.

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

Not applicable to open-end management investment companies.

**Item 18. Recovery of Erroneously Awarded Compensation.**

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

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

**Item 19. Exhibits.**

(a)(1) [Code of Ethics attached hereto.](fp0096588-1_ex99code.htm)

(a)(2) Not applicable.

(a)(3) [A separate certification for the principal executive officer and the principal financial officer of the Registrant, as required by Rule 30a-2(a) under the Act (17 CFR § 270.30a-2(a)), are filed herewith.](fp0096588-1_ex99cert.htm)

(a)(4) Not applicable.

(a)(5) Not applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) [Officer certifications, as required by Rule 30a-2(b) under the Act (17 CFR § 270.30a-2(b)), also accompany this filing as exhibits.](fp0096588-1_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) | Catholic Responsible Investments Funds |
| By (Signature and Title) | /s/ Michael Beattie |
|  | Michael Beattie |
|  | Principal Executive Officer |
| Date: January 8, 2026 |  |

---

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/ Michael Beattie |
|  | Michael Beattie |
|  | Principal Executive Officer |
| Date: January 8, 2026 |  |
| By (Signature and Title) | /s/ Andrew Metzger |
|  | Andrew Metzger |
|  | Principal Financial Officer |
| Date: January 8, 2026 |  |

---

## Ex-99.Code

**THE ADVISORS' INNER CIRCLE FUND**

**THE ADVISORS' INNER CIRCLE FUND II**

**THE ADVISORS' INNER CIRCLE FUND III**

**BISHOP STREET FUNDS**

**GALLERY TRUST <br> FROST FAMILY OF FUNDS**

**CATHOLIC RESPONSIBLE INVESTMENTS FUNDS**

**SYMMETRY PANORAMIC TRUST**

**WILSHIRE PRIVATE ASSETS MASTER FUND**

**WILSHIRE PRIVATE ASSETS FUND**

**FINANCIAL OFFICER CODE OF ETHICS**

I. Introduction

The reputation and integrity of The Advisors' Inner Circle Fund, The Advisors' Inner Circle Fund II, The Advisors' Inner Circle Fund III, Bishop Street Funds, Gallery Trust, Frost Family of Funds, Catholic Responsible Investments Funds, Symmetry Panoramic Trust, Wilshire Private Assets Master Fund and Wilshire Private Assets Fund (each a "Trust" and, collectively, the "Trusts") are valuable assets that are vital to the each Trust's success. The Trusts' senior financial officers ("SFOs") are responsible for conducting the Trusts' business in a manner that demonstrates a commitment to the highest standards of integrity. The Trusts' SFOs include the principal executive officer, the principal financial officer, comptroller or principal accounting officer, and any person who performs a similar function.

The Sarbanes-Oxley Act of 2002 (the "Act") effected sweeping corporate disclosure and financial reporting reform on public companies, including mutual funds, to address corporate malfeasance and assure investors that the companies in which they invest are accurately and completely disclosing financial information. Under the Act, all public companies (including the Trusts) must either have a code of ethics for their SFOs, or disclose why they do not. The Act was intended to foster corporate environments which encourage employees to question and report unethical and potentially illegal business practices. Each Trust has chosen to adopt this Financial Officer Code of Ethics (the "Code") to encourage its SFOs to act in a manner consistent with the highest principles of ethical conduct.

II. Purposes of the Code

The purposes of this Code are:

● To promote honest and ethical conduct by each Trust's SFOs, including the ethical handling of actual or apparent conflicts of interest between personal and professional relationships;

● To assist each Trust's SFOs in recognizing and avoiding conflicts of interest, including disclosing to an appropriate person any material transaction or relationship that reasonably could be expected to give rise to such a conflict;

● To promote full, fair, accurate, timely, and understandable disclosure in reports and documents that the Trusts file with, or submit to, the SEC and in other public communications made by the Trusts;

● To promote compliance with applicable laws, rules and regulations;

● To encourage the prompt internal reporting to an appropriate person of violations of this Code; and

● To establish accountability for adherence to this Code.

III. Questions about this Code

Each Trust's compliance officer designated to oversee compliance with the Trust's Code of Ethics adopted pursuant to Rule 17j-1 shall serve as Compliance Officer for the implementation and administration of this Code. You should direct your questions about this Code to the Compliance Officer.

IV. Conduct Guidelines

Each Trust has adopted the following guidelines under which the Trust's SFOs must perform their official duties and conduct the business affairs of the Trust.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**1.** **Ethical and honest conduct is of paramount importance.** Each Trust's
SFOs must act with honesty and integrity and avoid violations of this Code, including the avoidance of actual or apparent conflicts
of interest with the Trust in personal and professional relationships.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2.** **SFOs must disclose material transactions or relationships.** Each Trust's
SFOs must disclose to the Compliance Officer any actual or apparent conflicts of interest the SFO may have with the Trust that
reasonably could be expected to give rise to any violations of this Code. Such conflicts of interest may arise as a result of material
transactions or business or personal relationships to which the SFO may be a party. If it is not possible to disclose the matter
to the Compliance Officer, it should be disclosed to the Trust's Chief Financial Officer, Chief Executive Officer or another
appropriate person. In addition to disclosing any actual or apparent conflicts of interest in which an SFO is personally involved,
the Trusts' SFOs have an obligation to report any other actual or apparent conflicts which they discover or of which they
otherwise become aware. If you are unsure whether a particular fact pattern gives rise to a conflict of interest, or whether a
particular transaction or relationship is "material," you should bring the matter to the attention of the Compliance
Officer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**3.** **Standards for quality of information shared with service providers of the Trusts.** Each Trust's SFOs must at all times seek to provide information to the Trust's
service providers (adviser, administrator, outside auditor, outside counsel, custodian, *etc.*) that is accurate, complete,
objective, relevant, timely, and understandable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**4.** **Standards for quality of information included in periodic reports.** Each Trust's SFOs must at all times endeavor to ensure full, fair, timely, accurate, and understandable disclosure in the
Trust's periodic reports.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**5.** **Compliance with laws.** Each Trust's SFOs must comply with the
federal securities laws and other laws and rules applicable to the Trusts, such as the Internal Revenue Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.** **Standard of care.** Each Trust's SFOs must at all times act
in good faith and with due care, competence and diligence, without misrepresenting material facts or allowing your independent
judgment to be subordinated. Each Trust's SFOs must conduct the affairs of the Trust in a responsible manner, consistent
with this Code.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**7.** **Confidentiality of information.** Each Trust's SFOs must respect
and protect the confidentiality of information acquired in the course of their professional duties, except when authorized by the
Trust to disclose it or where disclosure is otherwise legally mandated. You may not use confidential information acquired in the
course of your work for personal advantage.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**8.** **Sharing of information and educational standards.** Each Trust's
SFOs should share information with relevant parties to keep them informed of the business affairs of the Trust, as appropriate,
and maintain skills important and relevant to the Trust's needs.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**9.** **Promote ethical conduct.** Each Trust's SFOs should at all times
proactively promote ethical behavior among peers in your work environment.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**10.** **Standards for recordkeeping.** Each Trust's SFOs must at all
times endeavor to ensure that the Trust's financial books and records are thoroughly and accurately maintained to the best
of their knowledge in a manner consistent with applicable laws and this Code.

V. Waivers of this Code

You may request a waiver of a provision of this Code by submitting your request in writing to the Compliance Officer for appropriate review. For example, if a family member works for a service provider that prepares a Trust's financial statements, you may have a potential conflict of interest in reviewing those statements and should seek a waiver of this Code to review the work. An executive officer of each Trust, or another appropriate person (such as a designated Board or Audit Committee member), will decide whether to grant a waiver. All waivers of this code must be disclosed to the applicable Trust's shareholders to the extent required by SEC rules.

VI. Affirmation of the Code

Upon adoption of the Code, each Trust's SFOs must affirm in writing that they have received, read and understand the Code, and annually thereafter must affirm that they have complied with the requirements of the Code. To the extent necessary, each Trust's Compliance Officer will provide guidance on the conduct required by this Code and the manner in which violations or suspected violations must be reported and waivers must be requested.

VII. Reporting Violations

In the event that an SFO discovers or, in good faith, suspects a violation of this Code, the SFO <u>must</u> immediately report the violation or suspected violation to the Compliance Officer. The Compliance Officer may, in his or her discretion, consult with another member of the Trust's senior management or the Board in determining how to address the suspected violation. For example, a Code violation may occur when a periodic report or financial statement of a Trust omits a material fact, or is technically accurate but, in the view of the SFO, is written in a way that obscures its meaning.

SFOs who report violations or suspected violations in good faith will not be subject to retaliation of any kind. Reported violations will be investigated and addressed promptly and will be treated as confidential to the extent possible.

VIII. Violations of the Code

Dishonest or unethical conduct or conduct that is illegal will constitute a violation of this Code, regardless of whether this Code specifically refers to such particular conduct. A violation of this Code may result in disciplinary action, up to and including removal as an SFO of the Trust. A variety of laws apply to the Trusts and their operations, including the Securities Act of 1933, the Investment Company Act of 1940, state laws relating to duties owed by Trust officers, and criminal laws. The Trusts will report any suspected criminal violations to the appropriate authorities, and will investigate, address and report, as appropriate, non-criminal violations.

Dated: September 2025

## Ex-99.Cert

**CERTIFICATION**

**Pursuant to Rule 30a-2(a) under the Investment Company Act of 1940**

**and Section 302 of the Sarbanes-Oxley Act of 2002**

I, Michael Beattie, certify that:

1. I
 have reviewed this report on Form N-CSR of the Catholic Responsible Investments Funds
 (the "Registrant");

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;

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;

4. The
 Registrant's other certifying officer(s), if any, 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

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: January 8, 2026 |
| /s/ Michael Beattie |
| Michael Beattie |
| Principal Executive Officer |

---

**CERTIFICATION**

**Pursuant to Rule 30a-2(a) under the Investment Company Act of 1940**

**and Section 302 of the Sarbanes-Oxley Act of 2002**

I, Andrew Metzger, certify that:

1. I
 have reviewed this report on Form N-CSR of the Catholic Responsible Investments Funds
 (the "Registrant");

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;

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;

4. The
 Registrant's other certifying officer(s), if any, 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

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: January 8, 2026 |
| /s/ Andrew Metzger |
| Andrew Metzger |
| Principal Financial Officer |

---

## Exhibit 99.906

**CERTIFICATION**

**Pursuant to 18 U.S.C. Section 1350, As Adopted Pursuant to Section 906**

**of the Sarbanes-Oxley Act of 2002**

The undersigned, Michael Beattie, the Principal Executive Officer of the Catholic Reponsible Investments Funds (the "Fund"), with respect to the Fund's Form N-CSR for the period ended October 31, 2025, as filed with the Securities and Exchange Commission, hereby certifies, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that, to the best of my knowledge:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. such
 Form N-CSR fully complies with the requirements of Section 13(a) or 15(d) of the Securities
 Exchange Act of 1934; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. the
 information contained in such Form N-CSR fairly presents, in all material respects, the
 financial condition and results of operations of the Fund.

---

| | |
|:---|:---|
| Dated: January 8, 2026 |  |
|  | /s/ Michael Beattie |
|  | Michael Beattie |
|  | Principal Executive Officer |

---

**CERTIFICATION**

**Pursuant to 18 U.S.C. Section 1350, As Adopted Pursuant to Section 906**

**of the Sarbanes-Oxley Act of 2002**

The undersigned, Andrew Metzger, the Principal Financial Officer of the Catholic Responsible Investments Funds (the "Fund"), with respect to the Fund's Form N-CSR for the period ended October 31, 2025, as filed with the Securities and Exchange Commission, hereby certifies, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that, to the best of my knowledge:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. such
 Form N-CSR fully complies with the requirements of Section 13(a) or 15(d) of the Securities
 Exchange Act of 1934; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. the
 information contained in such Form N-CSR fairly presents, in all material respects, the
 financial condition and results of operations of the Fund.

---

| | |
|:---|:---|
| Dated: January 8, 2026 |  |
|  | /s/ Andrew Metzger |
|  | Andrew Metzger |
|  | Principal Financial Officer |

---