# EDGAR Filing Document

**Accession Number:** 0000810695
**File Stem:** 0000910472-26-008455
**Filing Date:** 2026-5
**Character Count:** 193385
**Document Hash:** 1d847b067f2310f7050f9f3813e2b836
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000910472-26-008455.hdr.sgml**: 20260529

**ACCESSION NUMBER**: 0000910472-26-008455

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260529

**DATE AS OF CHANGE**: 20260529

**PERIOD START**: 20261231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Mutual Fund & Variable Insurance Trust
- **CENTRAL INDEX KEY:** 0000810695

**ORGANIZATION NAME:**
- **EIN:** 043023766
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-05010
- **FILM NUMBER:** 261043933

**BUSINESS ADDRESS:**
- **STREET 1:** C/O GEMINI FUND SERVICES, LLC
- **STREET 2:** 4221 NORTH 203RD STREET, SUITE 100
- **CITY:** ELKHORN
- **STATE:** NE
- **ZIP:** 68022-3474
- **BUSINESS PHONE:** 800-253-0412

**MAIL ADDRESS:**
- **STREET 1:** C/O GEMINI FUND SERVICES, LLC
- **STREET 2:** 4221 NORTH 203RD STREET, SUITE 100
- **CITY:** ELKHORN
- **STATE:** NE
- **ZIP:** 68022-3474

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** HUNTINGTON FUNDS
- **DATE OF NAME CHANGE:** 20040922

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** HUNTINGTON FUNDS /MA/
- **DATE OF NAME CHANGE:** 19990106

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MONITOR FUNDS
- **DATE OF NAME CHANGE:** 19920703

## Series and Classes Contracts Data

### Rational/Pier 88 Convertible Securities Fund (Series ID: S000067226)

| Class ID   | Class Name                                                        | Ticker Symbol   |
|:---|:---|:---|
| C000216241 | Rational/Pier 88 Convertible Securities Fund-Institutional Shares | PBXIX           |
| C000216242 | Rational/Pier 88 Convertible Securities Fund-Class A Shares       | PBXAX           |
| C000216243 | Rational/Pier 88 Convertible Securities Fund-Class C Shares       | PBXCX           |

## Nport-Ex

---

| |
|:---|
| **RATIONAL EQUITY ARMOR FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited)** |
| **March 31, 2026** |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 71.2%** |  |
|  | **AEROSPACE & DEFENSE - 2.0%** |  |
| 4054 | General Electric Company | $1150404 |
|  | **AUTOMOTIVE - 1.8%** |  |
| 2784 | Tesla, Inc.<sup>(a)</sup> | 1034952 |
|  | **BANKING - 6.5%** |  |
| 10534 | HSBC Holdings plc - ADR | 868950 |
| 7824 | JPMorgan Chase & Company | 2301508 |
| 7247 | Wells Fargo & Company | 576934 |
|  |  | 3747392 |
|  | **BIOTECH & PHARMA - 6.0%** |  |
| 5325 | AbbVie, Inc. | 1158134 |
| 1258 | Eli Lilly & Company | 1157071 |
| 7594 | Novartis A.G. - ADR | 1159984 |
|  |  | 3475189 |
|  | **E-COMMERCE DISCRETIONARY - 2.4%** |  |
| 6618 | Amazon.com, Inc.<sup>(a)</sup> | 1378331 |
|  | **ELECTRICAL EQUIPMENT - 1.3%** |  |
| 3021 | Vertiv Holdings Company, Class A | 757002 |
|  | **INSTITUTIONAL FINANCIAL SERVICES - 1.0%** |  |
| 681 | Goldman Sachs Group, Inc. (The) | 576119 |
|  | **INSURANCE - 5.5%** |  |
| 6637 | Berkshire Hathaway, Inc., Class B<sup>(a)</sup> | 3180450 |
|  | **INTERNET MEDIA & SERVICES - 6.8%** |  |
| 8034 | Alphabet, Inc., Class A | 2310257 |
| 4029 | Alphabet, Inc., Class C | 1155759 |
| 807 | Meta Platforms, Inc., Class A | 461709 |
|  |  | 3927725 |

---

---

| |
|:---|
| **RATIONAL EQUITY ARMOR FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **March 31, 2026** |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 71.2% (Continued)** |  |
|  | **LEISURE FACILITIES & SERVICES - 4.0%** |  |
| 7439 | McDonald's Corporation | $2311967 |
|  | **MACHINERY - 4.0%** |  |
| 1636 | Caterpillar, Inc. | 1159041 |
| 2054 | Deere & Company | 1157018 |
|  |  | 2316059 |
|  | **OIL & GAS PRODUCERS - 5.5%** |  |
| 11979 | Exxon Mobil Corporation | 2032357 |
| 15947 | Williams Companies, Inc. (The) | 1160623 |
|  |  | 3192980 |
|  | **RETAIL - CONSUMER STAPLES - 2.0%** |  |
| 9314 | Walmart, Inc. | 1157544 |
|  | **SEMICONDUCTORS - 12.1%** |  |
| 5687 | Advanced Micro Devices, Inc.<sup>(a)</sup> | 1156906 |
| 4479 | Broadcom, Inc. | 1386295 |
| 2794 | Micron Technology, Inc. | 943925 |
| 10633 | NVIDIA Corporation | 1854395 |
| 4825 | Taiwan Semiconductor Manufacturing Company Ltd. - ADR | 1630608 |
|  |  | 6972129 |
|  | **SOFTWARE - 6.2%** |  |
| 4048 | Microsoft Corporation | 1498447 |
| 8667 | Palantir Technologies, Inc., Class A<sup>(a)</sup> | 1267809 |
| 5049 | Palo Alto Networks, Inc.<sup>(a)</sup> | 809456 |
|  |  | 3575712 |
|  | **TECHNOLOGY HARDWARE - 4.1%** |  |
| 2498 | Apple, Inc. | 633967 |
| 5664 | Arista Networks, Inc.<sup>(a)</sup> | 695426 |
| 7687 | Corning, Inc. | 1045202 |
|  |  | 2374595 |
|  | **TOTAL COMMON STOCKS (Cost $34,186,186)** | 41128550 |

---

---

| |
|:---|
| **RATIONAL EQUITY ARMOR FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **March 31, 2026** |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Fair Value** |
|  | **EXCHANGE-TRADED FUNDS — 12.0%** |  |
|  | **EQUITY - 12.0%** |  |
| 23527 | Affinity World Leaders Equity ETF | $874969 |
| 7630 | Global X Copper Miners ETF | 582551 |
| 53245 | iShares MSCI Global Energy Producers ETF | 1396616 |
| 5282 | iShares U.S. Aerospace & Defense ETF | 1155438 |
| 4443 | State Street SPDR S&P 500 ETF Trust | 2889460 |
|  |  | 6899034 |
|  | **TOTAL EXCHANGE-TRADED FUNDS (Cost $6,729,761)** | 6899034 |
|  | **SHORT-TERM INVESTMENTS — 6.1%** |  |
|  | **MONEY MARKET FUNDS - 6.1%** |  |
| 3531213 | First American Treasury Obligations Fund, Class X, 3.58% (Cost $3,531,213)<sup>(b)</sup> | 3531213 |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Contracts<sup>(c)</sup>** |  | **Broker/<br> Counterparty** | **Expiration<br> Date** | **Exercise<br> Price** | **Exercise<br> Price** | **Notional<br> Value** | |
|  | **FUTURE OPTIONS PURCHASED - 8.5%** |  |  |  |  |  |  |
|  | **CALL OPTIONS PURCHASED - 6.3%** |  |  |  |  |  |  |
| 171 | S&P Emini Future, Maturing April 2026 | WED | 04/17/2026 | $| 6750 | $57712500 | $327038 |
| 68 | S&P Emini Future, Maturing April 2026 | WED | 04/17/2026 |  | 6800 | 23120000 | 79900 |
| 10 | S&P Emini Future, Maturing May 2026 | WED | 05/15/2026 |  | 100 | 50000 | 3219751 |
|  | **TOTAL CALL OPTIONS PURCHASED** (Cost - $3,773,763) | **TOTAL CALL OPTIONS PURCHASED** (Cost - $3,773,763) | **TOTAL CALL OPTIONS PURCHASED** (Cost - $3,773,763) | **TOTAL CALL OPTIONS PURCHASED** (Cost - $3,773,763) | **TOTAL CALL OPTIONS PURCHASED** (Cost - $3,773,763) |  | 3626689 |
|  | **PUT OPTIONS PURCHASED - 2.2%** |  |  |  |  |  |  |
| 102 | S&P Emini Future, Maturing April 2026 | WED | 04/17/2026 | $| 6800 | $34680000 | $1286475 |
| 10 | S&P Emini Future, Maturing May 2026 | WED | 05/15/2026 |  | 2100 | 1050000 | 200 |
|  | **TOTAL PUT OPTIONS PURCHASED** (Cost - $1,511,125) | **TOTAL PUT OPTIONS PURCHASED** (Cost - $1,511,125) | **TOTAL PUT OPTIONS PURCHASED** (Cost - $1,511,125) | **TOTAL PUT OPTIONS PURCHASED** (Cost - $1,511,125) | **TOTAL PUT OPTIONS PURCHASED** (Cost - $1,511,125) |  | 1286675 |
|  | **TOTAL FUTURE OPTIONS PURCHASED** (Cost - $5,284,888) | **TOTAL FUTURE OPTIONS PURCHASED** (Cost - $5,284,888) | **TOTAL FUTURE OPTIONS PURCHASED** (Cost - $5,284,888) | **TOTAL FUTURE OPTIONS PURCHASED** (Cost - $5,284,888) | **TOTAL FUTURE OPTIONS PURCHASED** (Cost - $5,284,888) |  | 4913364 |
|  | **TOTAL INVESTMENTS - 97.8% (Cost $49,732,048)** | **TOTAL INVESTMENTS - 97.8% (Cost $49,732,048)** | **TOTAL INVESTMENTS - 97.8% (Cost $49,732,048)** | **TOTAL INVESTMENTS - 97.8% (Cost $49,732,048)** |  |  | $56472161 |
|  | **CALL OPTIONS WRITTEN - (4.2)% (Premiums received - $2,444,000)** | **CALL OPTIONS WRITTEN - (4.2)% (Premiums received - $2,444,000)** | **CALL OPTIONS WRITTEN - (4.2)% (Premiums received - $2,444,000)** | **CALL OPTIONS WRITTEN - (4.2)% (Premiums received - $2,444,000)** | **CALL OPTIONS WRITTEN - (4.2)% (Premiums received - $2,444,000)** |  | (2426463) |
|  | **PUT OPTIONS WRITTEN - 0.0% (Premiums received - $38,925)** | **PUT OPTIONS WRITTEN - 0.0% (Premiums received - $38,925)** | **PUT OPTIONS WRITTEN - 0.0% (Premiums received - $38,925)** | **PUT OPTIONS WRITTEN - 0.0% (Premiums received - $38,925)** | **PUT OPTIONS WRITTEN - 0.0% (Premiums received - $38,925)** |  | (18388) |
|  | **OTHER ASSETS IN EXCESS OF LIABILITIES - 6.4%** | **OTHER ASSETS IN EXCESS OF LIABILITIES - 6.4%** | **OTHER ASSETS IN EXCESS OF LIABILITIES - 6.4%** | **OTHER ASSETS IN EXCESS OF LIABILITIES - 6.4%** | **OTHER ASSETS IN EXCESS OF LIABILITIES - 6.4%** |  | 3695949 |
|  | **NET ASSETS - 100.0%** |  |  |  |  |  | $57723259 |

---

---

| |
|:---|
| **RATIONAL EQUITY ARMOR FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **March 31, 2026** |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Contracts<sup>(c)</sup>** |  | **Counterparty** | **Expiration<br> Date** | **Exercise<br> Price** | **Notional<br> Value** | **Fair Value** |
|  | **WRITTEN FUTURE OPTIONS - (4.2)%** |  |  |  |  |  |
|  | **CALL OPTIONS WRITTEN- (4.2)%** |  |  |  |  |  |
| 9 | S&P Emini Future, Maturing April 2026 | WED | 04/17/2026 | $6150 | $2767500 | $201713 |
| 10 | S&P Emini Future, Maturing May 2026 | WED | 05/15/2026 | 2100 | 1050000 | 2224750 |
|  | **TOTAL CALL OPTIONS WRITTEN** (Proceeds - $2,444,000) | **TOTAL CALL OPTIONS WRITTEN** (Proceeds - $2,444,000) | **TOTAL CALL OPTIONS WRITTEN** (Proceeds - $2,444,000) | **TOTAL CALL OPTIONS WRITTEN** (Proceeds - $2,444,000) |  | 2426463 |
|  | **PUT OPTIONS WRITTEN – (0.0)%<sup>(d)</sup>** |  |  |  |  |  |
| 13 | S&P Emini Future, Maturing April 2026 | WED | 04/17/2026 | $6150 | $3997500 | $18363 |
| 10 | S&P Emini Future, Maturing May 2026 | WED | 05/15/2026 | 100 | 50000 | 25 |
|  | **TOTAL PUT OPTIONS WRITTEN** (Proceeds - $38,925) | **TOTAL PUT OPTIONS WRITTEN** (Proceeds - $38,925) | **TOTAL PUT OPTIONS WRITTEN** (Proceeds - $38,925) | **TOTAL PUT OPTIONS WRITTEN** (Proceeds - $38,925) |  | 18388 |
|  | **TOTAL LONG FUTURE OPTIONS WRITTEN** (Proceeds - $2,482,925) | **TOTAL LONG FUTURE OPTIONS WRITTEN** (Proceeds - $2,482,925) | **TOTAL LONG FUTURE OPTIONS WRITTEN** (Proceeds - $2,482,925) | **TOTAL LONG FUTURE OPTIONS WRITTEN** (Proceeds - $2,482,925) |  | $2444851 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **OPEN FUTURES CONTRACTS** | **OPEN FUTURES CONTRACTS** | **OPEN FUTURES CONTRACTS** | **OPEN FUTURES CONTRACTS** | |
| **Number of<br> Contracts** | **Open Long Futures Contracts** | **Expiration** | **Notional Amount<sup>(e)</sup>** | **Value and Unrealized<br> Depreciation** |
| 64 | CBOE Volatility Index Future | 04/16/2026 | $1601434 | $5191 |
| 75 | CBOE Volatility Index Future | 05/20/2026 | 1830900 | (10830) |
|  | **TOTAL LONG FUTURES CONTRACTS** |  |  | $(5639) |
| **OPEN FUTURES CONTRACTS** | **OPEN FUTURES CONTRACTS** | **OPEN FUTURES CONTRACTS** | **OPEN FUTURES CONTRACTS** | **OPEN FUTURES CONTRACTS** |
| **Number of<br> Contracts** | **Open Short Futures Contracts** | **Expiration** | **Notional Amount<sup>(e)</sup>** | **Value and Unrealized<br> Appreciation** |
| 18 | CME E-Mini Standard & Poor's 500 Index Future | 06/22/2026 | $5913675 | $46463 |
|  | **TOTAL SHORT FUTURES CONTRACTS** |  |  |  |
|  | **TOTAL OPEN FUTURES CONTRACTS** |  |  | $40824 |

---

---

| | |
|:---|:---|
| ADR | - American Depositary Receipt |
| ETF | - Exchange-Traded Fund |
| LTD | - Limited Company |
| MSCI | - Morgan Stanley Capital International |
| PLC | - Public Limited Company |
| SPDR | - Standard & Poor's Depositary Receipt |
| WED | -Wedbush Securities |

---

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

<sup>(b)</sup> Rate disclosed is the seven day effective yield as of March 31, 2026.

<sup>(c)</sup> Each contract is equivalent to one futures contract.

<sup>(d)</sup> Percentage rounds to greater than (0.1%).

<sup>(e)</sup> The amounts shown are the underlying reference notional amounts to stock exchange indices and equities upon which the fair value of the futures contracts held by the Fund are based. Notional values do not represent the current fair value of, and are not necessarily indicative of the future cash flows of the Fund's futures contracts. Further, the underlying price changes in relation to the variables specified by the notional values affects the fair value of these derivative financial instruments. The notional values as set forth within this schedule do not purport to represent economic value at risk to the Fund.

---

| |
|:---|
| **RATIONAL PREMIUM INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited)** |
| **March 31, 2026** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Amount ($)** |  | **Coupon Rate<br> (%)** | **Maturity** | **Fair Value** |
|  | **CORPORATE BONDS — 71.4%** |  |  |  |
|  | **ASSET MANAGEMENT — 7.8%** |  |  |  |
| 1000000 | Ares Capital Corporation | 2.1500 | &nbsp;&nbsp;07/15/26 | $991507 |
| 1000000 | Blue Owl Capital Corporation | 2.8750 | &nbsp;&nbsp;06/11/28 | 929555 |
|  |  |  |  | 1921062 |
|  | **AUTOMOTIVE — 4.6%** |  |  |  |
| 1000000 | Ford Motor Company | 9.6250 | &nbsp;&nbsp;04/22/30 | 1137126 |
|  | **BEVERAGES — 4.0%** |  |  |  |
| 1000000 | Constellation Brands, Inc. | 4.3500 | &nbsp;&nbsp;05/09/27 | 998661 |
|  | **FOOD — 4.0%** |  |  |  |
| 1000000 | Tyson Foods, Inc. | 3.5500 | &nbsp;&nbsp;06/02/27 | 990596 |
|  | **HEALTH CARE FACILITIES & SERVICES — 8.0%** |  |  |  |
| 1000000 | HCA, Inc. | 5.3750 | &nbsp;&nbsp;09/01/26 | 1000774 |
| 1000000 | Tenet Healthcare Corporation | 4.3750 | &nbsp;&nbsp;01/15/30 | 968622 |
|  |  |  |  | 1969396 |
|  | **INTERNET MEDIA & SERVICES — 8.1%** |  |  |  |
| 1000000 | Uber Technologies, Inc.<sup>(a)</sup> | 4.5000 | &nbsp;&nbsp;08/15/29 | 991787 |
| 1000000 | VeriSign, Inc. | 4.7500 | &nbsp;&nbsp;07/15/27 | 1000133 |
|  |  |  |  | 1991920 |
|  | **LEISURE PRODUCTS — 4.0%** |  |  |  |
| 1000000 | Mattel, Inc. | 5.0000 | &nbsp;&nbsp;11/17/30 | 993969 |
|  | **OIL & GAS PRODUCERS — 4.1%** |  |  |  |
| 1000000 | Energy Transfer, L.P. Midstream Finance Corporation<sup>(a)</sup> | 6.0000 | &nbsp;&nbsp;02/01/29 | 1007231 |
|  | **RETAIL - DISCRETIONARY — 11.0%** |  |  |  |
| 1000000 | Best Buy Company, Inc. | 1.9500 | &nbsp;&nbsp;10/01/30 | 890853 |
| 1000000 | Dick's Sporting Goods, Inc.<sup>(a)</sup> | 4.0000 | &nbsp;&nbsp;10/01/29 | 973293 |
| 1000000 | Lowe's Companies, Inc. | 1.7000 | &nbsp;&nbsp;10/15/30 | 880978 |
|  |  |  |  | 2745124 |
|  | **SEMICONDUCTORS — 7.7%** |  |  |  |
| 1000000 | Intel Corporation | 2.4500 | &nbsp;&nbsp;11/15/29 | 928945 |

---

---

| |
|:---|
| **RATIONAL PREMIUM INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **March 31, 2026** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Amount ($)** |  | **Coupon Rate<br> (%)** | **Maturity** | **Fair Value** |
|  | **CORPORATE BONDS — 71.4% (Continued)** |  |  |  |
|  | **SEMICONDUCTORS — 7.7% (Continued)** |  |  |  |
| 1000000 | Skyworks Solutions, Inc. | 1.8000 | &nbsp;&nbsp;06/01/26 | $995144 |
|  |  |  |  | 1924089 |
|  | **TECHNOLOGY HARDWARE — 4.1%** |  |  |  |
| 1000000 | Dell International, LLC / EMC Corporation | 4.7500 | &nbsp;&nbsp;04/01/28 | 1006990 |
|  | **TECHNOLOGY SERVICES — 4.0%** |  |  |  |
| 1000000 | Gartner, Inc.<sup>(a)</sup> | 4.5000 | &nbsp;&nbsp;07/01/28 | 983021 |
|  | **TOTAL CORPORATE BONDS (Cost $17,846,984)** |  |  | 17669185 |
|  | **U.S. GOVERNMENT & AGENCIES — 20.1%** |  |  |  |
|  | **U.S. TREASURY BILLS — 20.1%** |  |  |  |
| 5000000 | United States Treasury Bill<sup>(b)</sup> | 3.6300 | &nbsp;&nbsp;06/11/26 | 4964480 |
|  | **TOTAL U.S. GOVERNMENT & AGENCIES (Cost $4,961,838)** |  |  | 4964480 |
| **Shares** |  |  |  |  |
|  | **SHORT-TERM INVESTMENTS — 7.4%** |  |  |  |
|  | **MONEY MARKET FUNDS - 7.4%** |  |  |  |
| 1835553 | First American Treasury Obligations Fund, Class X, 3.58% (Cost $1,835,553)<sup>(c)</sup> |  |  | 1835553 |
|  | **TOTAL INVESTMENTS - 98.9% (Cost $24,644,375)** |  |  | $24469218 |
|  | **OTHER ASSETS IN EXCESS OF LIABILITIES - 1.1%** |  |  | 263046 |
|  | **NET ASSETS - 100.0%** |  |  | $24732264 |

---

LLC - Limited Liability Company

<sup>(a)</sup> Security exempt from registration under Rule 144A or Section 4(2) of the Securities Act of 1933. The security may be resold in transactions exempt from registration, normally to qualified institutional buyers. As of March 31, 2026 the total market value of 144A securities is $3,955,332 or 16.0% of net assets.

<sup>(b)</sup> Zero coupon bond.

<sup>(c)</sup> Rate disclosed is the seven day effective yield as of March 31, 2026.

---

| |
|:---|
| **RATIONAL PREMIUM INCOME FUND** |
| **SCHEDULE OF TOTAL RETURN SWAP CONTRACTS (Unaudited) (Continued)** |
| **March 31, 2026** |

---

**TOTAL RETURN SWAPS - (0.1) %**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Shares** | **Reference Entity** | **Payment<br> Frequency** | **Notional<br> Amount** | **Counterparty** | **Maturity Date** | **Pay Fixed Rate** | **Upfront Payments** | **Unrealized<br> Appreciation/<br> (Depreciation)** |
| 99710 | Custom Call Overwrite Strategy Series 1 Excess Return | Maturity | $(12000059) | Goldman Sachs | 1/5/2027 | 0.0000% |  | $(138557) |
| 144421 | Custom US Skew | Maturity | $(14878251) | Goldman Sachs | 1/5/2027 | 0.0000% |  | $161752 |
|  |  |  |  |  |  |  |  | $23195 |

---

---

| |
|:---|
| **RATIONAL PREMIUM INCOME FUND** |
| **SCHEDULE OF TOTAL RETURN SWAP CONTRACTS (Unaudited) (Continued)** |
| **March 31, 2026** |

---

**Custom Call Overwrite Strategy Series 1 Excess Return Total Return Swap Top 50 Holdings**

The following table represents the individual positions and related values of underlying securities of the Custom Call Overwrite Strategy Series 1 Excess Return Total Return Swap.

**Options Written**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Contracts** | **Name** | **Counterparty** | **Expiration Date** | **Exercise Price** | **Notional** | **Fair Value** |
| (0.0037) | S&P 500 Index | Goldman Sachs Call | 4/1/2026 | 6760 | 2510 | (2424) |
| (0.0037) | S&P 500 Index | Goldman Sachs Call | 4/2/2026 | 6710 | 2478 | (2411) |
| (0.0038) | S&P 500 Index | Goldman Sachs Call | 4/6/2026 | 6620 | 2491 | (2457) |
| (0.0038) | S&P 500 Index | Goldman Sachs Call | 4/7/2026 | 6605 | 2529 | (2500) |
| (0.0038) | S&P 500 Index | Goldman Sachs Call | 4/8/2026 | 6615 | 2544 | (2511) |

---

---

| |
|:---|
| **RATIONAL PREMIUM INCOME FUND** |
| **SCHEDULE OF TOTAL RETURN SWAP CONTRACTS (Unaudited) (Continued)** |
| **March 31, 2026** |

---

**Custom US Skew Total Return Swap Top 50 Holdings**

The following table represents the individual positions and related values of underlying securities of the Custom US Skew Total Return Swap.

**Options Purchased**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Contracts** | **Name** | **Counterparty** | **Call/Put** | **Expiration Date** | **Exercise Price** | **Notional** | **Fair Value** |
| 0.0061 | S&P 500 Index | Goldman Sachs | Call | 4/17/2026 | 6625 | 4073 | 4014 |
| 0.0054 | S&P 500 Index | Goldman Sachs | Call | 4/17/2026 | 6490 | 3492 | 3512 |
| 0.0044 | S&P 500 Index | Goldman Sachs | Put | 4/17/2026 | 5025 | 2215 | 2878 |
| 0.0031 | S&P 500 Index | Goldman Sachs | Call | 4/17/2026 | 6865 | 2127 | 2023 |
| 0.0030 | S&P 500 Index | Goldman Sachs | Call | 4/17/2026 | 6790 | 2056 | 1977 |
| 0.0028 | S&P 500 Index | Goldman Sachs | Call | 4/17/2026 | 6805 | 1918 | 1841 |
| 0.0025 | S&P 500 Index | Goldman Sachs | Call | 4/17/2026 | 6735 | 1713 | 1660 |
| 0.0026 | S&P 500 Index | Goldman Sachs | Put | 4/17/2026 | 5050 | 1300 | 1680 |
| 0.0022 | S&P 500 Index | Goldman Sachs | Put | 4/17/2026 | 4800 | 1041 | 1416 |
| 0.0051 | S&P 500 Index | Goldman Sachs | Call | 5/15/2026 | 6550 | 3334 | 3323 |
| 0.0070 | S&P 500 Index | Goldman Sachs | Put | 5/15/2026 | 4525 | 3147 | 4541 |
| 0.0046 | S&P 500 Index | Goldman Sachs | Call | 5/15/2026 | 6520 | 3013 | 3017 |
| 0.0057 | S&P 500 Index | Goldman Sachs | Put | 5/15/2026 | 4625 | 2635 | 3720 |
| 0.0037 | S&P 500 Index | Goldman Sachs | Call | 5/15/2026 | 6680 | 2439 | 2383 |
| 0.0050 | S&P 500 Index | Goldman Sachs | Put | 5/15/2026 | 4675 | 2344 | 3274 |
| 0.0040 | S&P 500 Index | Goldman Sachs | Put | 5/15/2026 | 4550 | 1814 | 2603 |
| 0.0034 | S&P 500 Index | Goldman Sachs | Put | 5/15/2026 | 4700 | 1604 | 2228 |
| 0.0034 | S&P 500 Index | Goldman Sachs | Put | 5/15/2026 | 4500 | 1514 | 2196 |
| 0.0032 | S&P 500 Index | Goldman Sachs | Put | 5/15/2026 | 4425 | 1402 | 2068 |
| 0.0020 | S&P 500 Index | Goldman Sachs | Call | 5/15/2026 | 6915 | 1380 | 1303 |
| 0.0020 | S&P 500 Index | Goldman Sachs | Call | 5/15/2026 | 6840 | 1362 | 1300 |
| 0.0019 | S&P 500 Index | Goldman Sachs | Call | 5/15/2026 | 6860 | 1277 | 1215 |
| 0.0027 | S&P 500 Index | Goldman Sachs | Put | 5/15/2026 | 4600 | 1231 | 1747 |
| 0.0026 | S&P 500 Index | Goldman Sachs | Put | 5/15/2026 | 4775 | 1218 | 1666 |
| 0.0018 | S&P 500 Index | Goldman Sachs | Call | 5/15/2026 | 6790 | 1193 | 1147 |
| 0.0022 | S&P 500 Index | Goldman Sachs | Put | 5/15/2026 | 4650 | 1036 | 1455 |
| 0.0032 | S&P 500 Index | Goldman Sachs | Call | 6/18/2026 | 6605 | 2142 | 2117 |
| 0.0030 | S&P 500 Index | Goldman Sachs | Call | 6/18/2026 | 6580 | 1944 | 1928 |
| 0.0024 | S&P 500 Index | Goldman Sachs | Call | 6/18/2026 | 6735 | 1639 | 1589 |
| 0.0036 | S&P 500 Index | Goldman Sachs | Put | 6/18/2026 | 4075 | 1471 | 2357 |
| 0.0025 | S&P 500 Index | Goldman Sachs | Put | 6/18/2026 | 4125 | 1039 | 1644 |
| 0.0033 | S&P 500 Index | Goldman Sachs | Put | 7/17/2026 | 3800 | 1239 | 2128 |

---

**Options Written**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Contracts** | **Name** | **Counterparty** | **Call/Put** | **Expiration Date** | **Exercise Price** | **Notional** | **Fair Value** |
| (0.0051) | S&P 500 Index | Goldman Sachs | Put | 4/17/2026 | 6300 | (3232) | (3349) |
| (0.0031) | S&P 500 Index | Goldman Sachs | Put | 4/17/2026 | 6310 | (1961) | (2029) |
| (0.0029) | S&P 500 Index | Goldman Sachs | Put | 4/17/2026 | 6260 | (1841) | (1919) |
| (0.0025) | S&P 500 Index | Goldman Sachs | Put | 4/17/2026 | 6200 | (1568) | (1651) |
| (0.0021) | S&P 500 Index | Goldman Sachs | Put | 4/17/2026 | 6270 | (1288) | (1341) |
| (0.0043) | S&P 500 Index | Goldman Sachs | Put | 5/15/2026 | 6270 | (2667) | (2777) |
| (0.0038) | S&P 500 Index | Goldman Sachs | Put | 5/15/2026 | 6275 | (2380) | (2476) |
| (0.0037) | S&P 500 Index | Goldman Sachs | Put | 5/15/2026 | 5920 | (2177) | (2400) |
| (0.0023) | S&P 500 Index | Goldman Sachs | Put | 5/15/2026 | 6150 | (1410) | (1497) |
| (0.0021) | S&P 500 Index | Goldman Sachs | Put | 5/15/2026 | 6125 | (1300) | (1385) |
| (0.0020) | S&P 500 Index | Goldman Sachs | Put | 5/15/2026 | 6175 | (1215) | (1285) |
| (0.0019) | S&P 500 Index | Goldman Sachs | Put | 5/15/2026 | 6210 | (1208) | (1270) |
| (0.0019) | S&P 500 Index | Goldman Sachs | Put | 5/15/2026 | 5970 | (1159) | (1267) |
| (0.0018) | S&P 500 Index | Goldman Sachs | Put | 5/15/2026 | 6200 | (1088) | (1146) |
| (0.0017) | S&P 500 Index | Goldman Sachs | Put | 5/15/2026 | 6250 | (1083) | (1131) |
| (0.0020) | S&P 500 Index | Goldman Sachs | Put | 6/18/2026 | 5725 | (1158) | (1320) |
| (0.0020) | S&P 500 Index | Goldman Sachs | Put | 6/18/2026 | 5775 | (1153) | (1304) |
| (0.0019) | S&P 500 Index | Goldman Sachs | Put | 6/18/2026 | 6050 | (1150) | (1241) |

---

---

| |
|:---|
| **RATIONAL DYNAMIC BRANDS FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited)** |
| **March 31, 2026** |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 92.3%** |  |
|  | **ADVERTISING & MARKETING - 2.6%** |  |
| 3300 | AppLovin Corporation, Class A<sup>(a)</sup> | $1313400 |
|  | **AEROSPACE & DEFENSE - 5.5%** |  |
| 6000 | General Electric Company | 1702620 |
| 4000 | HEICO Corporation | 1096800 |
|  |  | 2799420 |
|  | **ASSET MANAGEMENT - 4.7%** |  |
| 12300 | Apollo Global Management, Inc. | 1370466 |
| 9300 | Blackstone, Inc. | 1069407 |
|  |  | 2439873 |
|  | **BANKING - 2.2%** |  |
| 77000 | NU Holdings Ltd./Cayman Islands, Class A<sup>(a)</sup> | 1106490 |
|  | **E-COMMERCE DISCRETIONARY - 14.8%** |  |
| 17290 | Alibaba Group Holding Ltd. - ADR | 2169203 |
| 13395 | Amazon.com, Inc.<sup>(a)</sup> | 2789776 |
| 1525 | MercadoLibre, Inc.<sup>(a)</sup> | 2636756 |
|  |  | 7595735 |
|  | **INTERNET MEDIA & SERVICES - 24.7%** |  |
| 9000 | Alphabet, Inc., Class A | 2588040 |
| 28750 | Netflix, Inc.<sup>(a)</sup> | 2764312 |
| 5270 | Spotify Technology S.A.<sup>(a)</sup> | 2555476 |
| 36450 | Tencent Holdings Ltd. - ADR | 2304369 |
| 34500 | Uber Technologies, Inc.<sup>(a)</sup> | 2481585 |
|  |  | 12693782 |
|  | **RETAIL - CONSUMER STAPLES - 10.1%** |  |
| 2634 | Costco Wholesale Corporation | 2624597 |
| 20450 | Walmart, Inc. | 2541526 |
|  |  | 5166123 |
|  | **SEMICONDUCTORS - 9.8%** |  |
| 2000 | Broadcom, Inc. | 619020 |
| 12700 | NVIDIA Corporation | 2214880 |
| 6500 | Taiwan Semiconductor Manufacturing Company Ltd. - ADR | 2196675 |
|  |  | 5030575 |

---

---

| |
|:---|
| **RATIONAL DYNAMIC BRANDS FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **March 31, 2026** |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 92.3% (Continued)** |  |
|  | **SOFTWARE - 11.2%** |  |
| 1200 | Crowdstrike Holdings, Inc., Class A<sup>(a)</sup> | $468492 |
| 4647 | Microsoft Corporation | 1720180 |
| 7500 | Palantir Technologies, Inc., Class A<sup>(a)</sup> | 1097100 |
| 18700 | ServiceNow, Inc.<sup>(a)</sup> | 1955085 |
| 4000 | Shopify, Inc., Class A<sup>(a)</sup> | 474480 |
|  |  | 5715337 |
|  | **TECHNOLOGY HARDWARE - 6.7%** |  |
| 13530 | Apple, Inc. | 3433779 |
|  | **TOTAL COMMON STOCKS (Cost $41,666,419)** | 47294514 |
|  | **EXCHANGE-TRADED FUNDS — 3.0%** |  |
|  | **EQUITY - 3.0%** |  |
| 22000 | Global X Defense Tech ETF, USD Class | 1558480 |
|  | **TOTAL EXCHANGE-TRADED FUNDS (Cost $1,657,515)** | 1558480 |
|  | **SHORT-TERM INVESTMENTS — 4.8%** |  |
|  | **MONEY MARKET FUNDS - 4.8%** |  |
| 2454866 | First American Treasury Obligations Fund, Class X, 3.58% (Cost $2,454,866)<sup>(b)</sup> | 2454866 |
|  | **TOTAL INVESTMENTS - 100.1% (Cost $45,778,800)** | $51307860 |
|  | **LIABILITIES IN EXCESS OF OTHER ASSETS - (0.1)%** | (32832) |
|  | **NET ASSETS - 100.0%** | $51275028 |

---

---

| | |
|:---|:---|
| ADR | - American Depositary Receipt |
| ETF | - Exchange-Traded Fund |
| LTD | - Limited Company |
| S.A. | - Société Anonyme |

---

<sup>(a)</sup> Non-income producing security. <br><sup>(b)</sup> Rate disclosed is the seven day effective yield as of March 31, 2026.

---

| |
|:---|
| **RATIONAL STRATEGIC ALLOCATION FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited)** |
| **March 31, 2026** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Shares** |  |  |  | **Fair Value** |
|  | **OPEN END FUNDS — 73.7%** |  |  |  |
|  | **ALTERNATIVE - 5.3%** |  |  |  |
| 21339 | AQR Long-Short Equity Fund, Class N |  |  | $425501 |
|  | **OPEN-END FUNDS - 68.4%** |  |  |  |
| 596783 | Catalyst Systematic Alpha Fund, Class I<sup>(a)</sup> |  |  | 5290960 |
| 25046 | Catalyst/CIFC Senior Secured Income Fund, Class I<sup>(a)</sup> |  |  | 224910 |
| 2805 | Rational/Pier 88 Convertible Securities Fund, Institutional Class<sup>(a)</sup> |  |  | 29506 |
|  |  |  |  | 5545376 |
|  | **TOTAL OPEN END FUNDS (Cost $7,459,069)** |  |  | 5970877 |
| **Principal<br> Amount ($)** |  | **Coupon Rate<br> (%)** | **Maturity** |  |
|  | **U.S. GOVERNMENT & AGENCIES — 7.3%** |  |  |  |
|  | **U.S. TREASURY BILLS — 7.3%** |  |  |  |
| 600000 | United States Treasury Bill<sup>(b),(c)</sup> | 3.68 | &nbsp;&nbsp;09/03/26 | 590721 |
|  | **TOTAL U.S. GOVERNMENT & AGENCIES (Cost $591,019)** |  |  | 590721 |
| **Shares** |  |  |  |  |
|  | **SHORT-TERM INVESTMENTS — 4.8%** |  |  |  |
|  | **MONEY MARKET FUNDS - 4.8%** |  |  |  |
| 384796 | First American Treasury Obligations Fund, Class X, 3.58% (Cost $384,796)<sup>(d)</sup> |  |  | 384796 |
|  | **TOTAL INVESTMENTS - 85.8% (Cost $8,434,884)** |  |  | $6946394 |
|  | **OTHER ASSETS IN EXCESS OF LIABILITIES - 14.2%** |  |  | 1147769 |
|  | **NET ASSETS - 100.0%** |  |  | $8094163 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **OPEN FUTURES CONTRACTS** | **OPEN FUTURES CONTRACTS** | **OPEN FUTURES CONTRACTS** | | |
| **Number of<br> Contracts** | **Open Long Futures Contracts** | **Expiration** | **Notional<br> Amount<sup>(e)</sup>** | **Value and Unrealized<br> Depreciation** |
| 24 | CME E-Mini Standard & Poor's 500 Index Future | 06/22/2026 | $7884900 | $(138660) |
|  | **TOTAL FUTURES CONTRACTS** |  |  |  |

---

<sup>(a)</sup> Affiliated Company

<sup>(b)</sup> Zero coupon bond. Rate disclosed is the current yield as of March 31, 2026.

<sup>(c)</sup> As of March 31, 2026 a portion is held as collateral for futures with a market value of $590,721.

<sup>(d)</sup> Rate disclosed is the seven day effective yield as of March 31, 2026.

<sup>(e)</sup> The amounts shown are the underlying reference notional amounts to stock exchange indices and equities upon which the fair value of the futures contracts held by the Fund are based. Notional values do not represent the current fair value of, and are not necessarily indicative of the future cash flows of the Fund's futures contracts. Further, the underlying price changes in relation to the variables specified by the notional values affects the fair value of these derivative financial instruments. The notional values as set forth within this schedule do not purport to represent economic value at risk to the Fund.

---

| |
|:---|
| **RETURN STACKED<sup>®</sup> BALANCED ALLOCATION & SYSTEMATIC MACRO FUND** |
| **CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)** |
| **March 31, 2026** |

---

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Fair Value** |
|  | **EXCHANGE-TRADED FUNDS — 51.0%** |  |
|  | **EQUITY - 51.0%** |  |
| 31620 | iShares Core S&P 500 ETF | $20654500 |
|  | **TOTAL EXCHANGE-TRADED FUNDS (Cost $17,839,126)** | 20654500 |
| **Shares** |  | **Fair Value** |
|  | **SHORT-TERM INVESTMENTS — 39.8%** |  |
|  | **MONEY MARKET FUNDS - 39.8%** |  |
| 16102135 | First American US Treasury Money Market Fund, Class Z, 3.49% (Cost $16,102,135)<sup>(a)</sup> | 16102135 |
|  | **TOTAL INVESTMENTS - 90.8% (Cost $33,941,261)** | $36756635 |
|  | **OTHER ASSETS IN EXCESS OF LIABILITIES - 9.2%** | 3738588 |
|  | **NET ASSETS - 100.0%** | $40495223 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **OPEN FUTURES CONTRACTS** | **OPEN FUTURES CONTRACTS** | **OPEN FUTURES CONTRACTS** | **OPEN FUTURES CONTRACTS** | **OPEN FUTURES CONTRACTS** |
| **Number of<br> Contracts** | **Open Long Futures Contracts** | **Expiration** | **Notional Amount<sup>(b)</sup>** | **Value and Unrealized<br> Appreciation (Depreciation)** |
| 51 | CBOT 10 Year US Treasury Note | 06/22/2026 | $5663391 | $(2266) |
| 24 | CBOT 2 Year US Treasury Note Future | 07/01/2026 | 4978687 | (34609) |
| 37 | CBOT 5 Year US Treasury Note Future | 07/01/2026 | 4002648 | 3531 |
| 89 | CBOT Soybean Oil Future<sup>(c)</sup> | 05/15/2026 | 3678192 | 239352 |
| 43 | CBOT US Treasury Bond Futures | 06/22/2026 | 4896625 | (144781) |
| 148 | CME Australian Dollar Currency Future | 06/16/2026 | 10186100 | (227179) |
| 84 | CME British Pound Currency Future | 06/16/2026 | 6943650 | (55806) |
| 77 | CME Canadian Dollar Currency Future | 06/17/2026 | 5544000 | (60040) |
| 7 | CME E-Mini Standard & Poor's 500 Index Future | 06/22/2026 | 2299763 | 39288 |
| 1 | CME Euro Foreign Exchange Currency Future | 06/16/2026 | 144819 | (650) |
| 1 | COMEX Gold 100 Troy Ounces Future<sup>(c)</sup> | 06/29/2026 | 467860 | 6870 |
| 1 | COMEX Silver Future<sup>(c)</sup> | 05/28/2026 | 374595 | (61080) |
| 33 | Eurex EURO STOXX 50 Future | 06/22/2026 | 2095874 | (53436) |
| 50 | Euronext CAC 40 Index Future | 04/20/2026 | 4522076 | (38308) |
| 2 | FTSE 100 Index Future | 06/22/2026 | 269979 | 2065 |
| 2 | FTSE/MIB Index Future | 06/22/2026 | 503652 | (97) |
| 8 | HKG Hang Seng Index Future | 04/30/2026 | 1262852 | 76 |
| 21 | ICE Brent Crude Oil Future<sup>(c)</sup> | 05/01/2026 | 2183370 | 320 |
| 10 | ICE Gas Oil Future<sup>(c)</sup> | 05/13/2026 | 1239251 | 24875 |
| 5 | Long Gilt Future | 06/29/2026 | 580975 | 388 |
| 8 | MEFF Madrid IBEX 35 Index Future | 04/20/2026 | 1568793 | (5889) |
| 6 | NYBOT CSC C Coffee Future<sup>(c)</sup> | 05/19/2026 | 671288 | 5494 |
| 14 | NYMEX Light Sweet Crude Oil Future<sup>(c)</sup> | 04/22/2026 | 1419320 | 208460 |
| 1 | NYMEX Platinum Future<sup>(c)</sup> | 07/30/2026 | 98510 | 2605 |
| 11 | SFE S&P ASX Share Price Index 200 Future | 06/22/2026 | 1615225 | 9870 |

---

---

| |
|:---|
| **RETURN STACKED<sup>®</sup> BALANCED ALLOCATION & SYSTEMATIC MACRO FUND** |
| **CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **March 31, 2026** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **OPEN FUTURES CONTRACTS (Continued)** | **OPEN FUTURES CONTRACTS (Continued)** | **OPEN FUTURES CONTRACTS (Continued)** | **OPEN FUTURES CONTRACTS (Continued)** | **OPEN FUTURES CONTRACTS (Continued)** |
| **Number of<br> Contracts** | **Open Long Futures Contracts** | **Expiration** | **Notional Amount<sup>(b)</sup>** | **Value and Unrealized<br> Appreciation (Depreciation)** |
| 16 | TSE Japanese 10 Year Bond Futures | 06/16/2026 | $13136669 | $(112146) |
| 1 | TSE TOPIX (Tokyo Price Index) Future | 06/12/2026 | 220776 | (6619) |
|  | **TOTAL LONG FUTURE CONTRACTS** |  |  | $(259712) |
| **OPEN FUTURES CONTRACTS** | **OPEN FUTURES CONTRACTS** | **OPEN FUTURES CONTRACTS** | **OPEN FUTURES CONTRACTS** | **OPEN FUTURES CONTRACTS** |
| **Number of<br> Contracts** | **Open Short Futures Contracts** | **Expiration** | **Notional Amount<sup>(b)</sup>** | **Value and Unrealized<br> Appreciation (Depreciation)** |
| 66 | CBOT Corn Future<sup>(c)</sup> | 05/15/2026 | $1510575 | $(47850) |
| 16 | CBOT Soybean Future<sup>(c)</sup> | 05/15/2026 | 936800 | (6950) |
| 6 | CBOT Soybean Meal Future<sup>(c)</sup> | 05/15/2026 | 189840 | (600) |
| 23 | CBOT Wheat Future<sup>(c)</sup> | 05/15/2026 | 708688 | (73588) |
| 3 | CME E-Mini NASDAQ 100 Index Future | 06/22/2026 | 1434900 | (3315) |
| 19 | CME E-mini Russell 2000 Index Futures | 06/22/2026 | 2386590 | 35565 |
| 73 | CME Japanese Yen Currency Future | 06/16/2026 | 5779775 | 14640 |
| 97 | CME New Zealand Dollar Currency Future | 06/16/2026 | 5580410 | 147485 |
| 90 | CME Swiss Franc Currency Future | 06/16/2026 | 14172750 | 193106 |
| 13 | COMEX Copper Future<sup>(c)</sup> | 05/28/2026 | 1824550 | 24300 |
| 61 | Eurex 10 Year Euro BUND Future | 06/09/2026 | 8840488 | 61809 |
| 9 | Eurex 30 Year Euro BUXL Future | 06/09/2026 | 1146949 | (10540) |
| 20 | Eurex 5 Year Euro BOBL Future | 06/09/2026 | 2668285 | 11506 |
| 81 | Euronext Milling Wheat Future<sup>(c)</sup> | 05/12/2026 | 958434 | (9944) |
| 24 | KCBT Hard Red Winter Wheat Future<sup>(c)</sup> | 05/15/2026 | 762600 | (74162) |
| 23 | Montreal Exchange 10 Year Canadian Bond Future | 06/22/2026 | 1983807 | (16346) |
| 13 | Montreal Exchange S&P/TSX 60 Index Future | 06/22/2026 | 3565007 | (89260) |
| 2 | NYBOT CSC Cocoa Future<sup>(c)</sup> | 05/14/2026 | 66000 | 120 |
| 108 | NYBOT CSC Number 11 World Sugar Future<sup>(c)</sup> | 05/01/2026 | 1877299 | (121016) |
| 51 | NYBOT CTN Number 2 Cotton Future<sup>(c)</sup> | 05/07/2026 | 1785000 | (144635) |
| 43 | NYMEX Henry Hub Natural Gas Futures<sup>(c)</sup> | 04/29/2026 | 1240120 | 45410 |
| 1 | NYMEX NY Harbor ULSD Futures<sup>(c)</sup> | 05/01/2026 | 172780 | (5993) |
| 1 | NYMEX Reformulated Gasoline Blendstock for Oxygen Blending Future<sup>(c)</sup> | 05/01/2026 | 134564 | 353 |
|  | **TOTAL SHORT FUTURE CONTRACTS** |  |  | $(69905) |
|  | **TOTAL FUTURE CONTRACTS** |  |  | $(329617) |

---

ETF - Exchange-Traded Fund

<sup>(a)</sup> Rate disclosed is the seven day effective yield as of March 31, 2026.

<sup>(b)</sup> The amounts shown are the underlying reference notional amounts to stock exchange indices and equities upon which the fair value of the futures contracts held by the Fund are based. Notional values do not represent the current fair value of, and are not necessarily indicative of the future cash flows of the Fund's futures contracts. Further, the underlying price changes in relation to the variables specified by the notional values affects the fair value of these derivative financial instruments. The notional values as set forth within this schedule do not purport to represent economic value at risk to the Fund.

<sup>(c)</sup> All or a portion of this investment is a holding of the RDMF Fund Ltd.

---

| |
|:---|
| **RATIONAL/PIER 88 CONVERTIBLE SECURITIES FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited)** |
| **March 31, 2026** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Shares** |  |  |  | **Fair Value** |
|  | **COMMON STOCKS — 7.9%** |  |  |  |
|  | **AEROSPACE & DEFENSE - 0.5%** |  |  |  |
| 6900 | ATI, Inc.<sup>(a)</sup> |  |  | $1003674 |
|  | **DIVERSIFIED INDUSTRIALS - 2.4%** |  |  |  |
| 5300 | Dover Corporation |  |  | 1104785 |
| 20300 | ITT, Inc. |  |  | 3867759 |
|  |  |  |  | 4972544 |
|  | **HEALTH CARE REIT - 2.3%** |  |  |  |
| 23400 | Welltower, Inc. |  |  | 4626414 |
|  | **MEDICAL EQUIPMENT & DEVICES - 1.4%** |  |  |  |
| 33200 | Medtronic PLC |  |  | 2876780 |
|  | **OIL & GAS PRODUCERS - 1.3%** |  |  |  |
| 9100 | Cheniere Energy, Inc. |  |  | 2582216 |
|  | **TOTAL COMMON STOCKS (Cost $15,961,053)** |  |  | 16061628 |
|  |  | **Coupon Rate<br>(%)** | **Maturity** |  |
|  | **PREFERRED STOCKS — 24.8%** |  |  |  |
|  | **AEROSPACE & DEFENSE — 3.1%** |  |  |  |
| 97300 | Boeing Company (The) | 6.0000 | &nbsp;&nbsp;10/15/27 | 6315743 |
|  | **ASSET MANAGEMENT — 2.6%** |  |  |  |
| 71300 | Ares Management Corporation | 6.7500 | &nbsp;&nbsp;10/01/27 | 2579634 |
| 69800 | KKR & Company, Inc. | 6.2500 | &nbsp;&nbsp;03/01/28 | 2807356 |
|  |  |  |  | 5386990 |
|  | **BANKING — 9.3%** |  |  |  |
| 8048 | Bank of America Corporation | 7.2500 | &nbsp;&nbsp;Perpetual | 9589675 |
| 8200 | Wells Fargo & Company - Series L | 7.5000 | &nbsp;&nbsp;Perpetual | 9471000 |
|  |  |  |  | 19060675 |
|  | **ELECTRIC UTILITIES — 5.1%** |  |  |  |
| 201000 | NextEra Energy, Inc. | 7.2340 | &nbsp;&nbsp;11/01/27 | 10560540 |

---

---

| |
|:---|
| **RATIONAL/PIER 88 CONVERTIBLE SECURITIES FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **March 31, 2026** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Shares** |  | **Coupon Rate<br> (%)** | **Maturity** | **Fair Value** |
|  | **PREFERRED STOCKS — 24.8% (Continued)** |  |  |  |
|  | **SEMICONDUCTORS — 1.9%** |  |  |  |
| 68000 | Microchip Technology, Inc. | 7.5000 | &nbsp;&nbsp;03/15/28 | $3873960 |
|  | **TECHNOLOGY HARDWARE — 2.8%** |  |  |  |
| 89840 | Hewlett Packard Enterprise Company | 7.6250 | &nbsp;&nbsp;09/01/27 | 5795578 |
|  | **TOTAL PREFERRED STOCKS (Cost $52,328,438)** |  |  | 50993486 |
| **Principal<br> Amount ($)** |  |  |  |  |
|  | **CONVERTIBLE BONDS — 60.9%** |  |  |  |
|  | **BIOTECH & PHARMA — 2.5%** |  |  |  |
| 2049000 | Guardant Health, Inc.<sup>(b)</sup> | 0.0000 | &nbsp;&nbsp;11/15/27 | 2105835 |
| 2970000 | Halozyme Therapeutics, Inc. | 0.2500 | &nbsp;&nbsp;03/01/27 | 3079519 |
|  |  |  |  | 5185354 |
|  | **E-COMMERCE DISCRETIONARY — 4.5%** |  |  |  |
| 10430000 | Etsy, Inc. | 0.2500 | &nbsp;&nbsp;06/15/28 | 9312947 |
|  | **ELECTRIC UTILITIES — 16.5%** |  |  |  |
| 9980000 | Alliant Energy Corporation<sup>(c)</sup> | 3.2500 | &nbsp;&nbsp;05/30/28 | 10573546 |
| 8920000 | PPL Capital Funding, Inc. | 2.8750 | &nbsp;&nbsp;03/15/28 | 10449780 |
| 2820000 | Southern Company (The) | 4.5000 | &nbsp;&nbsp;06/15/27 | 3132436 |
| 7944000 | WEC Energy Group, Inc. | 4.3750 | &nbsp;&nbsp;06/01/29 | 9826728 |
|  |  |  |  | 33982490 |
|  | **ELECTRICAL EQUIPMENT — 0.8%** |  |  |  |
| 1460000 | Bloom Energy Corporation<sup>(b),(c)</sup> | 0.0000 | &nbsp;&nbsp;11/15/30 | 1554608 |
|  | **HOME CONSTRUCTION — 4.3%** |  |  |  |
| 9102000 | Meritage Homes Corporation | 1.7500 | &nbsp;&nbsp;05/15/28 | 8765226 |
|  | **INTERNET MEDIA & SERVICES — 4.8%** |  |  |  |
| 8169000 | Uber Technologies, Inc. | 0.8750 | &nbsp;&nbsp;12/01/28 | 9823223 |

---

---

| |
|:---|
| **RATIONAL/PIER 88 CONVERTIBLE SECURITIES FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **March 31, 2026** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br> Amount ($)** |  | **Coupon Rate<br> (%)** | **Maturity** | **Fair Value** |
|  | **CONVERTIBLE BONDS — 60.9% (Continued)** |  |  |  |
|  | **LEISURE FACILITIES & SERVICES — 2.5%** |  |  |  |
| 5780000 | DraftKings, Inc.<sup>(b)</sup> | 0.0000 | &nbsp;&nbsp;03/15/28 | $5202000 |
|  | **REAL ESTATE INVESTMENT TRUSTS — 8.2%** |  |  |  |
| 9509000 | Digital Realty Trust, L.P.<sup>(c)</sup> | 1.8750 | &nbsp;&nbsp;11/15/29 | 10066515 |
| 6350000 | Kite Realty Group, L.P.<sup>(c)</sup> | 0.7500 | &nbsp;&nbsp;04/01/27 | 6847140 |
|  |  |  |  | 16913655 |
|  | **SEMICONDUCTORS — 6.2%** |  |  |  |
| 3140000 | Microchip Technology, Inc.<sup>(b),(c)</sup> | 0.0000 | &nbsp;&nbsp;02/15/30 | 3063070 |
| 9952000 | ON Semiconductor Corporation | 0.5000 | &nbsp;&nbsp;03/01/29 | 9728080 |
|  |  |  |  | 12791150 |
|  | **SOFTWARE — 4.3%** |  |  |  |
| 4413000 | Cloudflare, Inc.<sup>(b),(c)</sup> | 0.0000 | &nbsp;&nbsp;06/15/30 | 5003256 |
| 3880000 | Datadog, Inc.<sup>(b)</sup> | 0.0000 | &nbsp;&nbsp;12/01/29 | 3750020 |
|  |  |  |  | 8753276 |
|  | **TECHNOLOGY SERVICES — 6.3%** |  |  |  |
| 11367000 | Global Payments, Inc. | 1.5000 | &nbsp;&nbsp;03/01/31 | 10014907 |
| 3196000 | Shift4 Payments, Inc. | 0.5000 | &nbsp;&nbsp;08/01/27 | 2996250 |
|  |  |  |  | 13011157 |
|  | **TOTAL CONVERTIBLE BONDS (Cost $124,889,229)** |  |  | 125295086 |
| **Shares** |  |  |  |  |
|  | **SHORT-TERM INVESTMENTS — 6.2%** |  |  |  |
|  | **MONEY MARKET FUNDS - 6.2%** |  |  |  |
| 12832164 | First American Treasury Obligations Fund, Class X, 3.58% (Cost $12,832,164)<sup>(d)</sup> |  |  | 12832164 |
|  | **TOTAL INVESTMENTS - 99.8% (Cost $206,010,884)** |  |  | $205182364 |
|  | **OTHER ASSETS IN EXCESS OF LIABILITIES - 0.2%** |  |  | 423335 |
|  | **NET ASSETS - 100.0%** |  |  | $205605699 |

---

PLC - Public Limited Company <br>REIT - Real Estate Investment Trust

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

<sup>(b)</sup> Zero coupon bond.

<sup>(c)</sup> Security exempt from registration under Rule 144A or Section 4(2) of the Securities Act of 1933. The security may be resold in transactions exempt from registration, normally to qualified institutional buyers. As of March 31, 2026 the total market value of 144A securities is $37,108,135 or 18.0% of net assets.

<sup>(d)</sup> Rate disclosed is the seven day effective yield as of March 31, 2026.

---

| |
|:---|
| **RATIONAL SPECIAL SITUATIONS INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited)** |
| **March 31, 2026** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Shares** | | | **Coupon<br>Rate (%)** | **Maturity** | **Fair Value** |
|  | **PREFERRED STOCKS — 0.7%** | **PREFERRED STOCKS — 0.7%** |  |  |  |
|  | **ASSET MANAGEMENT — 0.7%** | **ASSET MANAGEMENT — 0.7%** |  |  |  |
| 30 | Eaton Vance Ltd. Duration Income Fund Series A<sup>(a)</sup> | Eaton Vance Ltd. Duration Income Fund Series A<sup>(a)</sup> | 5.8750 | Perpetual | $622500 |
| 12 | Eaton Vance Ltd. Duration Income Fund Series B<sup>(a)</sup> | Eaton Vance Ltd. Duration Income Fund Series B<sup>(a)</sup> | 5.8750 | Perpetual | 249000 |
| 61 | Eaton Vance Ltd. Duration Income Fund Series C<sup>(a)</sup> | Eaton Vance Ltd. Duration Income Fund Series C<sup>(a)</sup> | 5.9390 | Perpetual | 1265750 |
| 29 | Eaton Vance Ltd. Duration Income Fund Series D<sup>(a)</sup> | Eaton Vance Ltd. Duration Income Fund Series D<sup>(a)</sup> | 5.8750 | Perpetual | 601750 |
| 24 | Eaton Vance Ltd. Duration Income Fund Series E<sup>(a)</sup> | Eaton Vance Ltd. Duration Income Fund Series E<sup>(a)</sup> | 5.8750 | Perpetual | 498000 |
| 88 | Eaton Vance Senior Floating-Rate Trust Series A<sup>(a)</sup> | Eaton Vance Senior Floating-Rate Trust Series A<sup>(a)</sup> | 5.8750 | Perpetual | 1826000 |
| 46 | Eaton Vance Senior Floating-Rate Trust Series B<sup>(a)</sup> | Eaton Vance Senior Floating-Rate Trust Series B<sup>(a)</sup> | 5.8750 | Perpetual | 954500 |
| 136 | Eaton Vance Senior Floating-Rate Trust Series C<sup>(a)</sup> | Eaton Vance Senior Floating-Rate Trust Series C<sup>(a)</sup> | 5.8590 | Perpetual | 2822000 |
| 18 | Eaton Vance Senior Floating-Rate Trust Series D | Eaton Vance Senior Floating-Rate Trust Series D | 5.8100 | Perpetual | 373500 |
|  |  |  |  |  | 9213000 |
|  | **TOTAL PREFERRED STOCKS (Cost $9,552,875)** | **TOTAL PREFERRED STOCKS (Cost $9,552,875)** |  |  | 9213000 |
| **Principal<br>Amount ($)** |  | **Spread** |  |  |  |
|  | **ASSET BACKED SECURITIES — 79.7%** |  |  |  |  |
|  | **AGENCY MORTGAGE BACKED SECURITIES — 0.2%** |  |  |  |  |
| 119345 | Fannie Mae Grantor Trust Series 1999-T2 A2<sup>(b)</sup> |  | 4.4720 | 01/19/39 | 110984 |
| 181675 | Fannie Mae Interest Strip Series 362 2<sup>(c)</sup> |  | 4.5000 | 08/25/35 | 20733 |
| 525080 | Fannie Mae REMIC Trust Series 2002-W6 2A<sup>(b)</sup> |  | 7.5000 | 06/25/42 | 527374 |
| 130289 | Fannie Mae REMICS Series 2010-55 SH<sup>(c),(d)</sup> | -(SOFR30A + 0.114%) + 6.500% | 2.7240 | 05/25/40 | 2420 |
| 233693 | Fannie Mae REMICS Series 2018-95 SA<sup>(c),(d)</sup> | -(SOFR30A + 0.114%) + 6.150% | 2.3740 | 01/25/49 | 21495 |
| 214196 | Fannie Mae Trust Series 2004-W1 3A<sup>(b)</sup> |  | 5.2490 | 01/25/43 | 212031 |
| 206273 | Freddie Mac REMICS Series 3753 SB<sup>(c),(d)</sup> | -(SOFR30A + 0.114%) + 6.000% | 2.2130 | 11/15/40 | 19035 |
| 204811 | Freddie Mac Strips Series 365 257<sup>(b),(c)</sup> |  | 4.5000 | 05/15/49 | 37437 |
| 1727556 | FREMF Mortgage Trust Series 2017-KF41<sup>(d),(e)</sup> | SOFR30A + 2.614% | 6.0500 | 11/25/26 | 1778902 |
| 93832 | Government National Mortgage Association Series 2003-12 S<sup>(c),(d)</sup> | -(TSFR1M + 0.114%) + 7.550% | 3.7600 | 02/20/33 | 7381 |
| 97469 | Government National Mortgage Association Series 2011-71 SG<sup>(c),(d)</sup> | -(TSFR1M + 0.114%) + 5.400% | 1.6100 | 05/20/41 | 7221 |
| 117776 | Government National Mortgage Association Series 2011-89 SA<sup>(c),(d)</sup> | -(TSFR1M + 0.114%) + 5.450% | 1.6600 | 06/20/41 | 8827 |
| 1156513 | Government National Mortgage Association Series 2013-43 IO<sup>(b),(c)</sup> |  | 0.0220 | 08/16/48 | 220 |
|  |  |  |  |  | 2754060 |

---

---

| |
|:---|
| **RATIONAL SPECIAL SITUATIONS INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **March 31, 2026** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Principal<br>Amount ($)** |  | **Spread** | **Coupon<br>Rate (%)** | **Maturity** | **Fair Value** |
|  | **ASSET BACKED SECURITIES — 79.7% (Continued)** |  |  |  |  |
|  | **CDO — 2.2%** |  |  |  |  |
| 2800000 | Attentus CDO III Ltd. Series 3A D<sup>(a),(d),(e)</sup> | TSFR3M + 1.912% | 5.5610 | 10/11/42 | $620396 |
| 7599160 | Kodiak CDO I Ltd. Series 1A C<sup>(a),(d),(e)</sup> | TSFR3M + 1.162% | 6.2940 | 08/07/37 | 5714712 |
| 2403950 | Kodiak CDO II Ltd. Series 2A B1<sup>(a),(d),(e)</sup> | TSFR3M + 1.162% | 4.8220 | 11/07/42 | 1835762 |
| 3081748 | Nomura CRE CDO Ltd. Series 2007-2A D<sup>(d),(e)</sup> | TSFR3M + 0.712% | 4.3760 | 05/21/42 |  |
| 7884392 | Taberna Preferred Funding I Ltd. Series 1A A2<sup>(a),(d),(e)</sup> | TSFR3M + 0.962% | 4.6130 | 07/05/35 | 5939431 |
| 7250000 | Taberna Preferred Funding II Ltd. Series 2005-2A A2<sup>(a),(d),(e)</sup> | TSFR3M + 0.912% | 4.5750 | 11/05/35 | 5329867 |
| 4622600 | Taberna Preferred Funding V Ltd. Series 5A A1B<sup>(a),(d),(e)</sup> | TSFR3M + 0.762% | 4.6622 | 08/05/36 | 2714807 |
| 10000000 | Taberna Preferred Funding VI Ltd. Series 6A A2<sup>(a),(d),(e)</sup> | TSFR3M + 0.762% | 4.4250 | 12/05/36 | 6414889 |
|  |  |  |  |  | 28569864 |
|  | **NON AGENCY CMBS — 33.6%** |  |  |  |  |
| 6000000 | BAMLL Commercial Mortgage Securities Trust Series BOC A<sup>(e)</sup> |  | 2.6270 | 01/15/32 | 5446141 |
| 12868174 | BAMLL Re-REMIC Trust Series 2016-GG10 AJA<sup>(a),(b),(e)</sup> |  | 5.6300 | 08/10/45 | 1544181 |
| 142048 | Banc of America Commercial Mortgage Trust Series 2006-4 C<sup>(b)</sup> |  | 5.7540 | 07/10/46 | 139960 |
| 138838 | Bayview Commercial Asset Trust Series 2005-2A A2<sup>(d),(e)</sup> | TSFR1M + 0.639% | 4.3180 | 08/25/35 | 135305 |
| 69419 | Bayview Commercial Asset Trust Series 2005-2A M1<sup>(d),(e)</sup> | TSFR1M + 0.759% | 4.4380 | 08/25/35 | 67352 |
| 182051 | Bayview Commercial Asset Trust Series 2005-2A B1<sup>(d),(e)</sup> | TSFR1M + 1.839% | 5.5180 | 08/25/35 | 199438 |
| 272859 | Bayview Commercial Asset Trust Series 2005-3A A1<sup>(d),(e)</sup> | US0001M + 0.480% | 4.2680 | 11/25/35 | 267281 |
| 149220 | Bayview Commercial Asset Trust Series 2005-3A M5<sup>(d),(e)</sup> | TSFR1M + 1.074% | 4.7480 | 11/25/35 | 160550 |
| 181196 | Bayview Commercial Asset Trust Series 2005-3A B1<sup>(d),(e)</sup> | TSFR1M + 1.764% | 5.4380 | 11/25/35 | 219165 |
| 875405 | Bayview Commercial Asset Trust Series 2005-3A B2<sup>(d),(e)</sup> | TSFR1M + 2.559% | 6.2330 | 11/25/35 | 1022703 |
| 492014 | Bayview Commercial Asset Trust Series 2005-3A B3<sup>(d),(e)</sup> | TSFR1M + 4.614% | 8.2880 | 11/25/35 | 578460 |
| 598920 | Bayview Commercial Asset Trust Series 2005-4A B1<sup>(d),(e)</sup> | TSFR1M + 2.214% | 5.8880 | 01/25/36 | 2555711 |
| 275446 | Bayview Commercial Asset Trust Series 2006-1A M3<sup>(d),(e)</sup> | TSFR1M + 0.744% | 4.4230 | 04/25/36 | 257251 |
| 420606 | Bayview Commercial Asset Trust Series 2006-1A M5<sup>(d),(e)</sup> | US0001M + 0.840% | 4.6330 | 04/25/36 | 393150 |
| 449426 | Bayview Commercial Asset Trust Series 2006-1A M6<sup>(d),(e)</sup> | TSFR1M + 1.074% | 4.7530 | 04/25/36 | 420486 |
| 499750 | Bayview Commercial Asset Trust Series 2006-1A B1<sup>(d),(e)</sup> | TSFR1M + 1.689% | 5.3680 | 04/25/36 | 475869 |
| 76173 | Bayview Commercial Asset Trust Series 2006-2A B1<sup>(d),(e)</sup> | TSFR1M + 1.419% | 5.0980 | 07/25/36 | 73558 |
| 73151 | Bayview Commercial Asset Trust Series 2006-2A B2<sup>(d),(e)</sup> | TSFR1M + 2.319% | 5.9980 | 07/25/36 | 1041745 |
| 118964 | Bayview Commercial Asset Trust Series 2006-4<sup>(d),(e)</sup> | TSFR1M + 0.459% | 4.1380 | 12/25/36 | 114651 |
| 460273 | Bayview Commercial Asset Trust Series 2006-SP2 M5<sup>(d),(e)</sup> | TSFR1M + 0.849% | 4.5280 | 01/25/37 | 432564 |
| 539074 | Bayview Commercial Asset Trust Series 2006-SP2 M6<sup>(d),(e)</sup> | TSFR1M + 0.954% | 4.6330 | 01/25/37 | 505119 |
| 1566228 | Bayview Commercial Asset Trust Series 2007-2A M1<sup>(d),(e)</sup> | TSFR1M + 0.669% | 4.3480 | 07/25/37 | 1423212 |
| 1079641 | Bayview Commercial Asset Trust Series 2007-2A M2<sup>(d),(e)</sup> | TSFR1M + 0.729% | 4.4080 | 07/25/37 | 979497 |
| 1096352 | Bayview Commercial Asset Trust Series 2007-3 M5<sup>(d),(e)</sup> | TSFR1M + 1.014% | 4.6930 | 07/25/37 | 1082552 |

---

---

| |
|:---|
| **RATIONAL SPECIAL SITUATIONS INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **March 31, 2026** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Principal<br>Amount ($)** |  | **Spread** | **Coupon<br>Rate (%)** | **Maturity** | **Fair Value** |
|  | **ASSET BACKED SECURITIES — 79.7% (Continued)** |  |  |  |  |
|  | **NON AGENCY CMBS — 33.6% (Continued)** |  |  |  |  |
| 5492651 | BB-UBS Trust Series 2012-TFT B<sup>(b),(e)</sup> |  | 3.5600 | 06/05/30 | $5203103 |
| 141448 | Bear Stearns Commercial Mortgage Securities Trust Series 2007-T26 AJ<sup>(b)</sup> |  | 5.5660 | 01/12/45 | 140409 |
| 1487315 | CD Mortgage Trust Series 2007-CD5 G<sup>(b),(e)</sup> |  | 6.3740 | 11/15/44 | 1480217 |
| 3531941 | CD Mortgage Trust Series 2017-CD5 XA<sup>(b),(c)</sup> |  | 0.7670 | 08/15/50 | 22130 |
| 319637 | CFCRE Commercial Mortgage Trust Series 2011-C2 D<sup>(b),(e)</sup> |  | 5.2490 | 12/15/47 | 309700 |
| 9685000 | CFCRE Commercial Mortgage Trust Series 2011-C2 E<sup>(b),(e)</sup> |  | 5.2490 | 12/15/47 | 9236395 |
| 2856555 | CFCRE Commercial Mortgage Trust Series 2016-C3 D<sup>(b),(e)</sup> |  | 3.0520 | 01/10/48 | 2764831 |
| 13388863 | CG-CCRE Commercial Mortgage Trust Series 2014-FL1 B<sup>(d),(e)</sup> | TSFR1M + 1.264% | 4.9370 | 06/15/31 | 13065211 |
| 225633 | Citigroup Commercial Mortgage Trust Series 2012-GC8 D<sup>(b),(e)</sup> |  | 4.9300 | 09/10/45 | 68308 |
| 1151057 | Citigroup Commercial Mortgage Trust Series 2014-GC21 C<sup>(b)</sup> |  | 4.7800 | 05/10/47 | 1137072 |
| 5000000 | Citigroup Commercial Mortgage Trust Series 2015-GC27 E<sup>(e)</sup> |  | 3.0000 | 02/10/48 | 4663464 |
| 21547720 | COMM Mortgage Trust Series 2012-CCRE3 B<sup>(e)</sup> |  | 3.9220 | 10/15/45 | 20954314 |
| 2310000 | COMM Mortgage Trust Series 2012-CCR3 D<sup>(b),(e)</sup> |  | 4.4340 | 10/15/45 | 1924322 |
| 1960000 | COMM Mortgage Trust Series 2012-CCRE5 E<sup>(b),(e)</sup> |  | 4.5410 | 12/10/45 | 1877917 |
| 1900000 | COMM Mortgage Trust Series 2013-LC6 F<sup>(e)</sup> |  | 3.5000 | 01/10/46 | 1606651 |
| 11274000 | COMM Mortgage Trust Series 2013-LC6 E<sup>(e)</sup> |  | 3.5000 | 01/10/46 | 10642253 |
| 50261 | COMM Mortgage Trust Series 2013-LC6 D<sup>(b),(e)</sup> |  | 3.7370 | 01/10/46 | 49310 |
| 6304453 | COMM Mortgage Trust Series 2013-CCRE7 D<sup>(b),(e)</sup> |  | 4.1520 | 03/10/46 | 5838773 |
| 1115940 | COMM Mortgage Trust Series 2014-CR14 B<sup>(b)</sup> |  | 3.1330 | 02/10/47 | 1094402 |
| 1380000 | COMM Mortgage Trust Series 2014-CR14 C<sup>(b)</sup> |  | 3.1330 | 02/10/47 | 1349991 |
| 2239651 | COMM Mortgage Trust Series 2014-UBS3 B |  | 4.3130 | 06/10/47 | 2188019 |
| 8452268 | COMM Mortgage Trust Series 2014-CCRE18 E<sup>(e)</sup> |  | 3.6000 | 07/15/47 | 7956133 |
| 3631295 | COMM Mortgage Trust Series 2014-UBS4 AM |  | 3.9680 | 08/10/47 | 3552996 |
| 6696186 | COMM Mortgage Trust Series 2014-LC17 E<sup>(e)</sup> |  | 3.1140 | 10/10/47 | 6445778 |
| 7988264 | COMM Mortgage Trust Series 2015-CCRE22 B<sup>(b)</sup> |  | 3.9260 | 03/10/48 | 7686113 |
| 4945232 | COMM Mortgage Trust Series 2015-CCR23 E<sup>(e)</sup> |  | 3.2340 | 05/10/48 | 4735551 |
| 20003729 | Commercial Mortgage Pass Through Certificates Series 2012-LTRT A2<sup>(e)</sup> |  | 3.4000 | 10/05/30 | 19756938 |
| 5790000 | Commercial Mortgage Pass Through Certificates Series 2012-LTRT B<sup>(e)</sup> |  | 3.8000 | 10/05/30 | 5531392 |
| 13623 | Credit Suisse Commercial Mortgage Trust Series C4 C<sup>(b),(e)</sup> |  | 5.5220 | 09/15/39 | 13500 |
| 1227312 | Csail Commercial Mortgage Trust Series 2015-C2 C<sup>(b)</sup> |  | 4.1200 | 06/15/57 | 1174668 |
| 5500000 | DBWF Mortgage Trust Series LCM A2<sup>(b),(e)</sup> |  | 3.4220 | 06/10/34 | 5246450 |
| 371187 | FREMF Mortgage Trust Series 2020-KF74 C<sup>(d),(e)</sup> | SOFR30A + 6.364% | 10.0330 | 01/25/27 | 368327 |
| 127435 | Greenwich Capital Commercial Mortgage Trust Series 2006-RR1 A1<sup>(b),(e)</sup> |  | 5.7780 | 03/18/49 | 121370 |

---

---

| |
|:---|
| **RATIONAL SPECIAL SITUATIONS INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **March 31, 2026** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Principal<br>Amount ($)** |  | **Spread** | **Coupon<br>Rate (%)** | **Maturity** | **Fair Value** |
|  | **ASSET BACKED SECURITIES — 79.7% (Continued)** |  |  |  |  |
|  | **NON AGENCY CMBS — 33.6% (Continued)** |  |  |  |  |
| 6000000 | GS Mortgage Securities Corp Trust Series 2013-PEMB A<sup>(b),(e)</sup> |  | 3.5490 | 03/05/33 | $4650600 |
| 6350000 | GS Mortgage Securities Corporation Trust Series 2012-TMSQ C<sup>(b),(e)</sup> |  | 3.7220 | 04/10/31 | 6227384 |
| 130611 | GS Mortgage Securities Corporation Trust Series 2012-TMSQ B<sup>(b),(e)</sup> |  | 3.7220 | 04/10/31 | 130360 |
| 2543737 | GS Mortgage Securities Trust Series 2007-GG10 AJ<sup>(b)</sup> |  | 5.6300 | 08/10/45 | 305248 |
| 7849768 | GS Mortgage Securities Trust Series 2013-GC14 F<sup>(b),(e)</sup> |  | 3.8880 | 08/10/46 | 7714296 |
| 1000000 | GSMS Trust Series 2026-DAWN D<sup>(b),(e)</sup> |  | 8.0680 | 04/10/31 | 996705 |
| 124666 | Impac CMB Trust Series 2004-8 3M2<sup>(d)</sup> | TSFR1M + 1.689% | 5.3680 | 08/25/34 | 122053 |
| 86307 | Impac CMB Trust Series 2004-8 3B<sup>(d)</sup> | TSFR1M + 2.739% | 6.4180 | 08/25/34 | 88059 |
| 7650000 | JP Morgan Chase Commercial Mortgage Series MINN A<sup>(d),(e)</sup> | TSFR1M + 1.317% | 4.9900 | 11/15/35 | 7072176 |
| 12950000 | JP Morgan Chase Commercial Mortgage Securities Series C2 F<sup>(e)</sup> |  | 3.3920 | 11/15/43 | 9329051 |
| 2004065 | JP Morgan Chase Commercial Mortgage Securities Series 2010-C2 D<sup>(b),(e)</sup> |  | 5.5820 | 11/15/43 | 1832288 |
| 12770000 | JP Morgan Chase Commercial Mortgage Securities Series 2010-C2 E<sup>(b),(e)</sup> |  | 5.5820 | 11/15/43 | 11945816 |
| 148890 | JP Morgan Chase Commercial Mortgage Securities Series C6 D<sup>(b)</sup> |  | 4.9670 | 05/15/45 | 148512 |
| 21123288 | JP Morgan Chase Commercial Mortgage Securities Series 2012-C6 E<sup>(b),(e)</sup> |  | 4.9670 | 05/15/45 | 20844429 |
| 1358000 | JP Morgan Chase Commercial Mortgage Securities<sup>(b),(e)</sup> |  | 4.9670 | 05/15/45 | 1285752 |
| 535593 | JP Morgan Chase Commercial Mortgage Securities Series 2011-C3 B<sup>(e)</sup> |  | 5.0130 | 02/15/46 | 514659 |
| 9260000 | JP Morgan Chase Commercial Mortgage Securities Series 2011-C3 C<sup>(b),(e)</sup> |  | 5.3600 | 02/15/46 | 8915395 |
| 22853 | JP Morgan Chase Commercial Mortgage Securities Series 2013-LC11 D<sup>(b)</sup> |  | 3.6070 | 04/15/46 | 1381 |
| 483283 | JP Morgan Chase Commercial Mortgage Securities Series 2012-LC9 C<sup>(b),(e)</sup> |  | 3.4990 | 12/15/47 | 476284 |
| 1571420 | JP Morgan Chase Commercial Mortgage Securities Series C10 C<sup>(b)</sup> |  | 3.9000 | 12/15/47 | 1516085 |
| 5960582 | JPMBB Commercial Mortgage Securities Trust Series C15 D<sup>(b),(e)</sup> |  | 4.2900 | 11/15/45 | 5533682 |
| 1199698 | JPMBB Commercial Mortgage Securities Trust Series 2013-C14 C<sup>(b)</sup> |  | 3.9310 | 08/15/46 | 1145461 |
| 2240000 | LBSBN Series 2005-2A PS<sup>(f)</sup> |  | 0.0000 | 09/27/30 | 2240000 |
| 2000000 | LOANME Trust SBL Series 2019-1 C<sup>(e),(g)</sup> |  | 15.0000 | 08/15/30 | 25000 |
| 499716 | ML-CFC Commercial Mortgage Trust Series 2007-9 AJ<sup>(b)</sup> |  | 6.8580 | 09/12/49 | 459537 |
| 226578 | ML-CFC Commercial Mortgage Trust Series 2007-9 AJA<sup>(b)</sup> |  | 6.8870 | 09/12/49 | 208360 |
| 10305615 | Morgan Stanley Bank of America Merrill Lynch Trust Series C6 D<sup>(b),(e)</sup> |  | 4.3450 | 11/15/45 | 9373972 |
| 4341086 | Morgan Stanley Bank of America Merrill Lynch Trust Series C6 C<sup>(b)</sup> |  | 4.5360 | 11/15/45 | 4015349 |
| 350000 | Morgan Stanley Bank of America Merrill Lynch Trust Series C9 C<sup>(b)</sup> |  | 3.7040 | 05/15/46 | 322753 |
| 13025614 | Morgan Stanley Bank of America Merrill Lynch Trust Series 2013-C10 C<sup>(b)</sup> |  | 3.9510 | 07/15/46 | 12035662 |
| 4930000 | Morgan Stanley Bank of America Merrill Lynch Trust Series C10 D<sup>(b),(e)</sup> |  | 3.9510 | 07/15/46 | 4093360 |

---

---

| |
|:---|
| **RATIONAL SPECIAL SITUATIONS INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **March 31, 2026** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Principal<br>Amount ($)** |  | **Spread** | **Coupon<br>Rate (%)** | **Maturity** | **Fair Value** |
|  | **ASSET BACKED SECURITIES — 79.7% (Continued)** |  |  |  |  |
|  | **NON AGENCY CMBS — 33.6% (Continued)** |  |  |  |  |
| 8456143 | Morgan Stanley Bank of America Merrill Lynch Trust Series 2013-C11 AS<sup>(b)</sup> |  | 3.8920 | 08/15/46 | $8095397 |
| 4158000 | Morgan Stanley Bank of America Merrill Lynch Trust Series 2013-C12 D<sup>(b),(e)</sup> |  | 4.6010 | 10/15/46 | 3857020 |
| 4546817 | Morgan Stanley Bank of America Merrill Lynch Trust Series C18 E<sup>(e)</sup> |  | 3.0000 | 10/15/47 | 4359320 |
| 1522728 | Morgan Stanley Bank of America Merrill Lynch Trust Series C19 D<sup>(e)</sup> |  | 3.2500 | 12/15/47 | 1495869 |
| 5426973 | Morgan Stanley Bank of America Merrill Lynch Trust Series C25 D |  | 3.0680 | 10/15/48 | 5286159 |
| 1429793 | Morgan Stanley Bank of America Merrill Lynch Trust Series C8 F<sup>(b),(e)</sup> |  | 4.1750 | 12/15/48 | 1297612 |
| 52889 | Morgan Stanley Capital I Trust Series 2011-C2 D<sup>(b),(e)</sup> |  | 5.2130 | 06/15/44 | 51758 |
| 7250000 | Morgan Stanley Capital I Trust Series 2011-C2 E<sup>(b),(e)</sup> |  | 5.2130 | 06/15/44 | 7032053 |
| 610994 | Morgan Stanley Capital I Trust Series 2011-C3 E<sup>(b),(e)</sup> |  | 4.9410 | 07/15/49 | 605419 |
| 2064950 | Morgan Stanley Capital I Trust Series 2011-C3 F<sup>(b),(e)</sup> |  | 4.9410 | 07/15/49 | 2022411 |
| 1770000 | MSRW Pass-Through Trust Series 2025-CC D<sup>(e)</sup> |  | 8.3170 | 08/15/30 | 1750122 |
| 5000000 | OWS Real Estate Finance, LLC Series MARG2 A<sup>(d),(e)</sup> | TSFR1M + 4.000% | 7.7500 | 08/15/27 | 5002251 |
| 38500000 | TMSQ Mortgage Trust Series 2014-1500 XA<sup>(b),(c),(e)</sup> |  | 0.1550 | 10/10/36 | 174174 |
| 3078079 | UBS-Barclays Commercial Mortgage Trust Series 2013-C5 B<sup>(b),(e)</sup> |  | 3.6490 | 03/10/46 | 2954925 |
| 5642068 | UBS-Barclays Commercial Mortgage Trust Series 2013-C5 C<sup>(b),(e)</sup> |  | 3.6490 | 03/10/46 | 5232962 |
| 1181748 | VA Gilbert AZ Subordinated Note Lease-Backed Pass-Through Trust<sup>(e)</sup> |  | 12.9970 | 03/15/34 | 1332101 |
| 1376928 | Wachovia Bank Commercial Mortgage Trust Series 2005-C21 E<sup>(b),(e)</sup> |  | 5.5570 | 10/15/44 | 1386111 |
| 9250000 | Wells Fargo Commercial Mortgage Trust Series 2016-C34 B |  | 4.0890 | 06/15/49 | 9171283 |
| 1900000 | Wells Fargo Commercial Mortgage Trust Series 2016-C34 C<sup>(b)</sup> |  | 5.1580 | 06/15/49 | 1848938 |
| 3044606 | Wells Fargo Commercial Mortgage Trust Series 2016-C33<sup>(e)</sup> |  | 3.1230 | 03/15/59 | 2968491 |
| 27495981 | WFLD Mortgage Trust Series 2014-MONT A<sup>(b),(e)</sup> |  | 3.7550 | 08/10/31 | 26935758 |
| 840000 | WFLD Mortgage Trust Series 2014-MONT B<sup>(b),(e)</sup> |  | 3.7550 | 08/10/31 | 811965 |
| 14507689 | WFRBS Commercial Mortgage Trust Series 2013-C14 C<sup>(b)</sup> |  | 3.7900 | 06/15/46 | 12755745 |
| 6956000 | WFRBS Commercial Mortgage Trust Series 2013-C14 D<sup>(b),(e)</sup> |  | 3.7900 | 06/15/46 | 4413920 |
| 10667262 | WFRBS Commercial Mortgage Trust Series 2013-C14 B<sup>(b)</sup> |  | 3.8410 | 06/15/46 | 10044569 |
| 4242072 | WFRBS Commercial Mortgage Trust Series 2013-C15 B<sup>(b)</sup> |  | 4.1520 | 08/15/46 | 4138113 |
| 6574014 | WFRBS Commercial Mortgage Trust Series 2014-C21 B<sup>(b)</sup> |  | 4.2130 | 08/15/47 | 6454099 |
| 6647000 | WFRBS Commercial Mortgage Trust Series 2014-C25 E<sup>(e)</sup> |  | 3.3200 | 11/15/47 | 6328933 |
| 5954811 | WFRBS Commercial Mortgage Trust Series 2014-C25 D<sup>(b),(e)</sup> |  | 3.8030 | 11/15/47 | 5835633 |
| 71372 | WFRBS Commercial Mortgage Trust Series 2014-C23 AS<sup>(b)</sup> |  | 4.2100 | 10/15/57 | 69465 |
| 3000000 | X-Caliber Funding, LLC Series 2021-7 A<sup>(d),(e)</sup> | SOFRRATE + 3.120% | 6.8000 | 04/15/26 | 2995269 |
|  |  |  |  |  | 438019423 |

---

---

| |
|:---|
| **RATIONAL SPECIAL SITUATIONS INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **March 31, 2026** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Principal<br>Amount ($)** |  | **Spread** | **Coupon<br>Rate (%)** | **Maturity** | **Fair Value** |
|  | **ASSET BACKED SECURITIES — 79.7% (Continued)** |  |  |  |  |
|  | **NON-AGENCY RESIDENTIAL MORTGAGE BACKED SECURITIES — 43.6%** |  |  |  |  |
| 1292580 | ABFC Trust Series 2002-WF2 CE<sup>(f)</sup> |  | 0.0000 | 11/25/29 | $1117737 |
| 155749 | ABFC Trust Series 2003-OPT1 A3<sup>(d)</sup> | TSFR1M + 0.794% | 4.4730 | 04/25/33 | 156200 |
| 182666 | ABFS Mortgage Loan Trust Series 2000-1 A1<sup>(g)</sup> |  | 8.4250 | 07/15/31 | 153885 |
| 78842 | ABFS Mortgage Loan Trust Series 2000-3 A<sup>(g)</sup> |  | 8.1100 | 09/15/31 | 62657 |
| 883665 | ABFS Mortgage Loan Trust Series 2001-3 A2<sup>(e),(g)</sup> |  | 6.1700 | 03/15/32 | 865071 |
| 2059329 | ABFS Mortgage Loan Trust Series 2002-1 A5<sup>(g)</sup> |  | 7.0100 | 12/15/32 | 1666238 |
| 474119 | ABFS Mortgage Loan Trust Series 2003-1 M<sup>(d)</sup> | TSFR1M + 2.364% | 6.0370 | 08/15/33 | 472816 |
| 721741 | ABFS Mortgage Loan Trust Series 2002-4 M1<sup>(g)</sup> |  | 4.4000 | 12/15/33 | 553513 |
| 677985 | Accredited Mortgage Loan Trust Series 2004-3 2A6<sup>(d)</sup> | TSFR1M + 0.984% | 4.6630 | 10/25/34 | 659538 |
| 3051962 | Accredited Mortgage Loan Trust Series 2005-1 M5<sup>(d)</sup> | TSFR1M + 3.414% | 5.9270 | 04/25/35 | 3164238 |
| 2243165 | ACE Securities Corp Home Equity Loan Trust Series HE1 CE<sup>(f)</sup> |  | 0.0000 | 11/20/31 | 2029784 |
| 206125 | ACE Securities Corp Home Equity Loan Trust Series TC1 M2<sup>(d)</sup> | TSFR1M + 3.039% | 6.7180 | 06/25/33 | 199224 |
| 12930 | ACE Securities Corp Home Equity Loan Trust Series HE1 M2<sup>(d)</sup> | TSFR1M + 1.764% | 5.4430 | 03/25/34 | 12915 |
| 528589 | ACE Securities Corp Home Equity Loan Trust Series 2004-RM1 B1<sup>(d),(e)</sup> | TSFR1M + 5.364% | 2.4140 | 07/25/34 | 466308 |
| 20657 | ACE Securities Corp Home Equity Loan Trust Series RM1 M1<sup>(d)</sup> | TSFR1M + 1.164% | 4.8430 | 07/25/34 | 20552 |
| 1531310 | ACE Securities Corp Home Equity Loan Trust Series 2005-WF1 M10<sup>(d)</sup> | TSFR1M + 3.614% | 7.2930 | 05/25/35 | 1793341 |
| 188124 | ACE Securities Corp Home Equity Loan Trust Series Series HE3 M3<sup>(d)</sup> | TSFR1M + 5.379% | 9.0580 | 10/25/32 | 420373 |
| 619126 | ACE Securities Corp Home Equity Loan Trust Series Series OP1 M1<sup>(d)</sup> | TSFR1M + 1.164% | 4.8430 | 12/25/33 | 635412 |
| 11577 | ACE Securities Corp Manufactured Housing Trust Series 2003-MH1 B2<sup>(e),(h)</sup> |  | 0.0000 | 08/15/30 | 11476 |
| 71979 | Adjustable Rate Mortgage Trust Series 2005-2 3A1<sup>(b)</sup> |  | 6.4900 | 06/25/35 | 72149 |
| 67634 | Adjustable Rate Mortgage Trust Series 2005-4 1A1<sup>(b)</sup> |  | 3.2860 | 08/25/35 | 53126 |
| 371535 | Adjustable Rate Mortgage Trust Series 2005-5 2A1<sup>(b)</sup> |  | 4.8980 | 09/25/35 | 317352 |
| 156316 | Adjustable Rate Mortgage Trust Series 2005-6A 1A21<sup>(d)</sup> | TSFR1M + 0.634% | 4.3130 | 11/25/35 | 138293 |
| 186035 | Adjustable Rate Mortgage Trust Series 2005-6A 1A1<sup>(d)</sup> | TSFR1M + 0.654% | 4.3330 | 11/25/35 | 161467 |
| 58775 | Adjustable Rate Mortgage Trust Series 2005-10 3A31<sup>(b)</sup> |  | 4.0700 | 01/25/36 | 55134 |
| 150404 | Adjustable Rate Mortgage Trust Series 2005-10 3A11<sup>(b)</sup> |  | 4.0700 | 01/25/36 | 138547 |
| 96720 | Adjustable Rate Mortgage Trust Series 2005-10 6A1<sup>(d)</sup> | TSFR1M + 0.654% | 4.3330 | 01/25/36 | 92606 |
| 547762 | Aegis Asset Backed Securities Trust Mortgage Series 2004-3 B2<sup>(d)</sup> | TSFR1M + 3.264% | 6.9430 | 09/25/34 | 493288 |
| 2105514 | AFC Trust Series 1999-3 2A<sup>(d)</sup> | TSFR1M + 0.904% | 4.5830 | 09/28/29 | 2013719 |
| 638660 | AFC Trust Series 2000-2 1A<sup>(d)</sup> | US0001M + 0.790% | 4.5780 | 06/25/30 | 616783 |
| 57939 | AFC Trust Series 2000-4 1A<sup>(d),(e)</sup> | TSFR1M + 0.884% | 4.5630 | 01/25/31 | 57751 |
| 181893 | Alternative Loan Trust Series 2004-J6 M<sup>(b)</sup> |  | 9.7800 | 11/25/31 | 181711 |
| 43561 | Alternative Loan Trust Series 2003-J3 1A2 |  | 5.2500 | 11/25/33 | 43237 |
| 740387 | Alternative Loan Trust Series 2004-8CB M3<sup>(d)</sup> | US0001M + 2.850% | 6.6430 | 06/25/34 | 986922 |

---

---

| |
|:---|
| **RATIONAL SPECIAL SITUATIONS INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **March 31, 2026** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Principal<br>Amount ($)** |  | **Spread** | **Coupon<br>Rate (%)** | **Maturity** | **Fair Value** |
|  | **ASSET BACKED SECURITIES — 79.7% (Continued)** |  |  |  |  |
|  | **NON-AGENCY RESIDENTIAL MORTGAGE BACKED SECURITIES — 43.6% (Continued)** |  |  |  |  |
| 370200 | Alternative Loan Trust Series 2005-43 5A1<sup>(b)</sup> |  | 5.3080 | 09/25/35 | $335391 |
| 981192 | Alternative Loan Trust Series 2006-OC2 2A3<sup>(d)</sup> | TSFR1M + 0.694% | 4.3730 | 02/25/36 | 922854 |
| 1468738 | Alternative Loan Trust Series 2006-J6 A2<sup>(c),(d)</sup> | -(TSFR1M + 0.114%) + 5.500% | 1.7070 | 09/25/36 | 153411 |
| 1203883 | Alternative Loan Trust Series 2006-J6 A1<sup>(d)</sup> | TSFR1M + 0.614% | 2.2970 | 09/25/36 | 419361 |
| 624639 | Alternative Loan Trust Series 2006-32CB A2<sup>(c),(d)</sup> | -(TSFR1M + 0.114%) + 5.330% | 1.5370 | 11/25/36 | 56172 |
| 376288 | Alternative Loan Trust Series 2006-32CB A1<sup>(d)</sup> | TSFR1M + 0.784% | 2.8130 | 11/25/36 | 162411 |
| 325132 | Alternative Loan Trust Series 2004-2CB 4A1 |  | 5.0000 | 08/25/54 | 322520 |
| 6086264 | American Home Mortgage Investment Trust Series 2005-2 5A4D<sup>(g)</sup> |  | 5.8280 | 09/25/35 | 4401576 |
| 328015 | Ameriquest Mortgage Securities Asset-Backed Series 2002-3 M3<sup>(d)</sup> | TSFR1M + 2.964% | 6.6430 | 08/25/32 | 326266 |
| 80498 | Ameriquest Mortgage Securities Asset-Backed Series 2003-AR1 M3<sup>(d)</sup> | TSFR1M + 4.614% | 3.5110 | 01/25/33 | 79508 |
| 992136 | Ameriquest Mortgage Securities Asset-Backed Series 2004-R3 M4<sup>(d)</sup> | TSFR1M + 2.874% | 6.5530 | 05/25/34 | 937378 |
| 436232 | Ameriquest Mortgage Securities Asset-Backed<sup>(d)</sup> | TSFR1M + 1.224% | 4.9030 | 03/25/35 | 431821 |
| 100466 | Ameriquest Mortgage Securities, Inc. Asset Backed Series R1 M1<sup>(d)</sup> | TSFR1M + 0.909% | 4.5880 | 02/25/34 | 128566 |
| 93436 | Ameriquest Mortgage Securities, Inc. Asset Backed Pass Through Certificates Series AR1 M1<sup>(d)</sup> | TSFR1M + 1.179% | 3.5330 | 09/25/32 | 97529 |
| 2063927 | Ameriquest Mortgage Securities, Inc. Asset Backed Pass Through Certificates Series 2002-C M1<sup>(d)</sup> | TSFR1M + 3.489% | 7.1680 | 11/25/32 | 2195741 |
| 402695 | Ameriquest Mortgage Securities, Inc. Asset-Backed Series AR3 M5<sup>(d)</sup> | TSFR1M + 5.739% | 3.1050 | 06/25/33 | 377649 |
| 696535 | Ameriquest Mortgage Securities, Inc. Asset-Backed Series 11 M6<sup>(d)</sup> | TSFR1M + 5.739% | 5.2840 | 11/25/33 | 704206 |
| 646933 | Ameriquest Mortgage Securities, Inc. Asset-Backed Series R1 A2<sup>(d)</sup> | TSFR1M + 0.714% | 4.3930 | 02/25/34 | 654799 |
| 98395 | Amortizing Residential Collateral Trust Series 2002-BC5 M2<sup>(d)</sup> | TSFR1M + 1.914% | 5.5930 | 07/25/32 | 118878 |
| 171979 | Amresco Residential Securities Corporation Mort Loan Series 1999-1 M1<sup>(d)</sup> | TSFR1M + 0.864% | 5.0400 | 11/25/29 | 147301 |
| 889697 | Argent Securities, Inc. Asset-Backed Pass-Through Series 2003-W3 M5<sup>(d)</sup> | TSFR1M + 5.739% | 4.2290 | 09/25/33 | 792984 |
| 296905 | Argent Securities, Inc. Asset-Backed Pass-Through Series W6 AV1<sup>(d)</sup> | TSFR1M + 0.974% | 4.6530 | 01/25/34 | 292052 |
| 120212 | Argent Securities, Inc. Asset-Backed Pass-Through Series W9 M1<sup>(d)</sup> | TSFR1M + 0.984% | 4.2250 | 06/26/34 | 130152 |
| 222831 | Argent Securities, Inc. Asset-Backed Pass-Through Series W11 M3<sup>(d)</sup> | TSFR1M + 1.239% | 4.9180 | 11/25/34 | 227683 |
| 57026 | Argent Securities, Inc. Asset-Backed Pass-Through Series W2 M1<sup>(d)</sup> | TSFR1M + 0.849% | 4.5280 | 10/25/35 | 56903 |
| 2431467 | Asset Backed Securities Corporation Home Equity Loan Series 2003-HE1 M3<sup>(d)</sup> | TSFR1M + 5.364% | 9.0370 | 01/15/33 | 2259008 |
| 174919 | Asset Backed Securities Corporation Home Equity Loan Series HE6 A2<sup>(d)</sup> | TSFR1M + 0.794% | 4.4730 | 11/25/33 | 216209 |
| 1056357 | Asset Backed Securities Corporation Home Equity Loan Series HE6 A3B<sup>(d)</sup> | TSFR1M + 1.074% | 4.7530 | 11/25/33 | 1086198 |
| 466327 | Banc of America Alternative Loan Trust Series 2006-4 1A2<sup>(c),(d)</sup> | -(TSFR1M + 0.114%) + 5.150% | 1.3570 | 05/25/46 | 24113 |

---

---

| |
|:---|
| **RATIONAL SPECIAL SITUATIONS INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **March 31, 2026** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Principal<br>Amount ($)** |  | **Spread** | **Coupon<br>Rate (%)** | **Maturity** | **Fair Value** |
|  | **ASSET BACKED SECURITIES — 79.7% (Continued)** |  |  |  |  |
|  | **NON-AGENCY RESIDENTIAL MORTGAGE BACKED SECURITIES — 43.6% (Continued)** |  |  |  |  |
| 462096 | Banc of America Alternative Loan Trust Series 2006-4 1A1<sup>(d)</sup> | TSFR1M + 0.964% | 4.6430 | 05/25/46 | $400170 |
| 253245 | Banc of America Alternative Loan Trust Series 2006-4 1A3 |  | 6.0000 | 05/25/46 | 231129 |
| 204370 | Banc of America Alternative Loan Trust Series 2006-4 1A4 |  | 6.0000 | 05/25/46 | 186518 |
| 537534 | Banc of America Alternative Loan Trust Series 2006-4 1A5 |  | 6.0000 | 05/25/46 | 490590 |
| 955647 | Banc of America Funding Corporation Series 2008-1 A2<sup>(b)</sup> |  | 4.4260 | 09/25/48 | 932660 |
| 530409 | Banc of America Funding Trust Series 2016-R2 1A2<sup>(b),(e)</sup> |  | 13.0130 | 05/01/33 | 551472 |
| 43286 | Banc of America Funding Trust Series 2003-1 B2 |  | 6.0000 | 05/20/33 | 9621 |
| 37011 | Banc of America Funding Trust Series 2007-4 5A1 |  | 5.5000 | 11/25/34 | 32447 |
| 361233 | Banc of America Funding Trust Series 2004-B 6A1<sup>(b)</sup> |  | 2.7880 | 12/20/34 | 305597 |
| 116007 | Banc of America Funding Trust Series 2005-B 1A1<sup>(b)</sup> |  | 5.3010 | 04/20/35 | 114082 |
| 955511 | Banc of America Funding Trust Series 2005-E 2A1<sup>(b)</sup> |  | 4.0360 | 05/20/35 | 871708 |
| 1940199 | Banc of America Funding Trust Series 2015-R8 3A2<sup>(b),(e)</sup> |  | 4.4680 | 08/26/35 | 1544204 |
| 42433 | Banc of America Funding Trust Series 2005-8 30PO<sup>(h)</sup> |  | 0.0000 | 01/25/36 | 27853 |
| 1076478 | Banc of America Funding Trust Series 2006-A 5A1<sup>(b)</sup> |  | 3.5220 | 02/20/36 | 1029467 |
| 610607 | Banc of America Funding Trust Series 2006-A 4A1<sup>(b)</sup> |  | 5.3550 | 02/20/36 | 575631 |
| 357934 | Banc of America Funding Trust Series 2006-B 7A1<sup>(b)</sup> |  | 4.1770 | 03/20/36 | 316689 |
| 146365 | Banc of America Funding Trust Series 2006-B 1A1<sup>(b)</sup> |  | 6.1210 | 03/20/36 | 143013 |
| 521990 | Banc of America Funding Trust Series 2006-C 4A1<sup>(b)</sup> |  | 5.3950 | 04/20/36 | 482396 |
| 463856 | Banc of America Funding Trust Series 2006-D 2A1<sup>(b)</sup> |  | 3.4990 | 05/20/36 | 437302 |
| 1003 | Banc of America Funding Trust Series 2006-G 3A3<sup>(d)</sup> | TSFR12M + 2.465% | 5.9390 | 07/20/36 | 998 |
| 104781 | Banc of America Funding Trust Series 2006-F 1A2<sup>(b)</sup> |  | 6.0460 | 07/20/36 | 89153 |
| 87360 | Banc of America Funding Trust Series 2006-I 5A1<sup>(b)</sup> |  | 3.3970 | 10/20/46 | 76259 |
| 226654 | Banc of America Funding Trust Series 2006-J 4A1<sup>(b)</sup> |  | 4.7520 | 01/20/47 | 197611 |
| 1132757 | Banc of America Funding Trust Series 2007-5 7A5 |  | 6.5000 | 07/25/47 | 877390 |
| 308396 | Banc of America Funding Trust Series 2007-8 3A1 |  | 6.0000 | 08/25/53 | 168092 |
| 3727849 | Banc of America Mortgage Trust Series 2004-G 3A1<sup>(b)</sup> |  | 5.1610 | 08/25/34 | 2447246 |
| 28404 | Banc of America Mortgage Trust Series 2005-A 2A2<sup>(b)</sup> |  | 4.7580 | 02/25/35 | 27896 |
| 574627 | Banc of America Mortgage Trust Series 2005-G 4A3<sup>(b)</sup> |  | 3.4820 | 08/25/35 | 524468 |
| 565471 | Banc of America Mortgage Trust Series 2005-I 4A1<sup>(b)</sup> |  | 6.6030 | 10/25/35 | 569142 |
| 2342 | Banc of America Mortgage Trust Series 2006-A 1A1<sup>(b)</sup> |  | 6.2440 | 02/25/36 | 2242 |
| 57318 | Banc of America Mortgage Trust Series 2006-B 2A1<sup>(b)</sup> |  | 4.9460 | 11/20/46 | 51429 |
| 937149 | Bayview Financial Asset Trust Series 2007-SR1A A<sup>(d),(e)</sup> | TSFR1M + 0.564% | 4.2430 | 03/25/37 | 948422 |
| 2334738 | Bayview Financial Asset Trust Series 2007-SR1A M1<sup>(d),(e)</sup> | TSFR1M + 0.914% | 4.5930 | 03/25/37 | 2366096 |
| 1526935 | Bayview Financial Asset Trust Series 2007-SR1A M2<sup>(d),(e)</sup> | TSFR1M + 1.014% | 4.6930 | 03/25/37 | 1551641 |

---

---

| |
|:---|
| **RATIONAL SPECIAL SITUATIONS INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **March 31, 2026** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br>Amount ($)** | **Spread** | **Coupon<br>Rate (%)** | **Maturity** | **Fair Value** |
| 911117 Bayview Financial Asset Trust Series 2007-SR1A M3<sup>(d),(e)</sup> | TSFR1M + 1.264% | 4.9430 | 03/25/37 | $933710 |
| 2211087 Bayview Financial Asset Trust Series 2007-SR1A M4<sup>(d),(e)</sup> | TSFR1M + 1.614% | 5.2930 | 03/25/37 | 2244982 |
| 641127 Bayview Financial Mortgage Pass-Through Trust Series D M2<sup>(b)</sup> |  | 5.5000 | 12/28/35 | 630074 |
| 260719 Bayview Financial Mortgage Pass-Through Trust Series A B1<sup>(d)</sup> | TSFR1M + 4.239% | 7.9130 | 02/28/44 | 320092 |
| 581819 Bayview Financial Mortgage Pass-Through Trust Series 2004-D B2<sup>(d)</sup> | US0001M + 5.250% | 9.0380 | 08/28/44 | 612134 |
| 4203428 BCAP, LLC Trust Series 2013-RR7 4A4<sup>(b),(e)</sup> |  | 4.0380 | 12/27/34 | 4112906 |
| 987596 BCAP, LLC Trust Series 2011-RR5-I 6A2<sup>(b),(e)</sup> |  | 4.5620 | 02/26/36 | 924281 |
| 1598204 BCAP, LLC Trust Series 2009-RR10 1A2<sup>(b),(e)</sup> |  | 6.0000 | 02/26/36 | 1559267 |
| 1800187 BCAP, LLC Trust Series 2011-RR4-I 1A6<sup>(b),(e)</sup> |  | 4.5300 | 03/26/36 | 1130025 |
| 651779 BCAP, LLC Trust Series 2010-RR11 3A3<sup>(b),(e)</sup> |  | 4.1980 | 06/27/36 | 627754 |
| 3516515 BCAP, LLC Trust Series 2012-RR8 4A6<sup>(b),(e)</sup> |  | 2.7040 | 11/20/36 | 3049991 |
| 1273748 BCMSC Trust Series 1998-B M1<sup>(b)</sup> |  | 6.8100 | 10/15/28 | 1262100 |
| 775611 BCMSC Trust Series 1998-C M1<sup>(b)</sup> |  | 7.5100 | 01/15/29 | 772749 |
| 460054 BCMSC Trust Series 1999-A M1<sup>(b)</sup> |  | 6.7850 | 03/15/29 | 456587 |
| 4944914 BCMSC Trust Series 1999-B A5<sup>(b)</sup> |  | 0.5200 | 12/15/29 | 259610 |
| 731888 BCMSC Trust Series 1999-B A2<sup>(b)</sup> |  | 0.5200 | 12/15/29 | 36023 |
| 611382 BCMSC Trust Series 1999-B A3<sup>(b)</sup> |  | 0.5200 | 12/15/29 | 30976 |
| 737790 BCMSC Trust Series 1999-B A6<sup>(b)</sup> |  | 0.5200 | 12/15/29 | 40912 |
| 121126 Bear Stearns ALT-A Trust Series 2004-12 2A4<sup>(b)</sup> |  | 4.1830 | 01/25/35 | 116250 |
| 1271301 Bear Stearns ALT-A Trust Series 2005-10 11A1<sup>(d)</sup> | TSFR1M + 0.614% | 4.2930 | 01/25/36 | 1244684 |
| 1924295 Bear Stearns ALT-A Trust Series 2006-1 11A1<sup>(d)</sup> | TSFR1M + 0.594% | 4.2730 | 02/25/36 | 1846846 |
| 366798 Bear Stearns ALT-A Trust Series 2006-3 35A1<sup>(b)</sup> |  | 2.8010 | 05/25/36 | 172833 |
| 47648 Bear Stearns ALT-A Trust Series 2006-3 33A1<sup>(b)</sup> |  | 5.1460 | 05/25/36 | 28621 |
| 1103902 Bear Stearns ALT-A Trust Series 2007-1 1A1<sup>(d)</sup> | TSFR1M + 0.434% | 4.1130 | 01/25/47 | 1039598 |
| 181715 Bear Stearns ARM Trust Series 2004-9 23A1<sup>(b)</sup> |  | 7.2500 | 11/25/34 | 181169 |
| 680081 Bear Stearns ARM Trust Series 2005-6 3A1<sup>(b)</sup> |  | 5.8770 | 08/25/35 | 668178 |
| 194609 Bear Stearns ARM Trust Series 2006-4 1A1<sup>(b)</sup> |  | 6.1230 | 10/25/36 | 194471 |
| 819782 Bear Stearns ARM Trust Series 2007-4 22A1<sup>(b)</sup> |  | 4.2430 | 06/25/47 | 741315 |
| 46156 Bear Stearns ARM Trust Series 2007-5 3A1<sup>(b)</sup> |  | 4.4830 | 08/25/47 | 40879 |
| 2654116 Bear Stearns ARM Trust Series 2007-5 2A1<sup>(b)</sup> |  | 4.7390 | 08/25/47 | 2446671 |
| 140302 Bear Stearns Asset Backed Securities I Trust Series 2004-HE7 M1<sup>(d)</sup> | US0001M + 0.900% | 4.6930 | 08/25/34 | 138356 |
| 1722404 Bear Stearns Asset Backed Securities I Trust Series 2004-FR3 M4<sup>(d)</sup> | TSFR1M + 2.814% | 5.7550 | 09/25/34 | 1699083 |
| 536808 Bear Stearns Asset Backed Securities I Trust Series 2004-BO1 M9A<sup>(d)</sup> | TSFR1M + 6.114% | 9.7930 | 10/25/34 | 536178 |
| 1006367 Bear Stearns Asset Backed Securities I Trust Series TC1 M7<sup>(d)</sup> | TSFR1M + 4.614% | 5.3510 | 05/25/35 | 1079865 |

---

---

| |
|:---|
| **RATIONAL SPECIAL SITUATIONS INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **March 31, 2026** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Principal<br>Amount ($)** |  | **Spread** | **Coupon<br>Rate (%)** | **Maturity** | **Fair Value** |
|  | **ASSET BACKED SECURITIES — 79.7% (Continued)** |  |  |  |  |
|  | **NON-AGENCY RESIDENTIAL MORTGAGE BACKED SECURITIES — 43.6% (Continued)** |  |  |  |  |
| 960825 | Bear Stearns Asset Backed Securities I Trust Series 2005-TC1 M6<sup>(d)</sup> | TSFR1M + 2.664% | 5.3510 | 05/25/35 | $985938 |
| 377670 | Bear Stearns Asset Backed Securities I Trust Series TC1 M5<sup>(d)</sup> | TSFR1M + 2.064% | 5.3510 | 05/25/35 | 383245 |
| 117615 | Bear Stearns Asset Backed Securities I Trust Series 2005-AC5 1A1<sup>(d)</sup> | TSFR1M + 1.114% | 4.7930 | 08/25/35 | 66920 |
| 3547332 | Bear Stearns Asset Backed Securities I Trust Series 2005-TC2 M8<sup>(d),(e)</sup> | TSFR1M + 4.614% | 5.4320 | 08/25/35 | 3659814 |
| 4243111 | Bear Stearns Asset Backed Securities I Trust Series HE11 M4<sup>(d)</sup> | TSFR1M + 1.089% | 4.7680 | 11/25/35 | 4159022 |
| 2412279 | Bear Stearns Asset Backed Securities I Trust Series HE10 1M2<sup>(d)</sup> | TSFR1M + 0.464% | 4.3180 | 12/25/36 | 2381604 |
| 1989349 | Bear Stearns Asset Backed Securities I Trust Series 2007-HE1 2M1<sup>(d)</sup> | TSFR1M + 0.384% | 4.1980 | 01/25/37 | 1938354 |
| 302848 | Bear Stearns Asset Backed Securities Trust Series 2003-AC5 A1<sup>(g)</sup> |  | 5.7500 | 10/25/33 | 373746 |
| 333317 | Bear Stearns Asset Backed Securities Trust Series 2003-SD1 A<sup>(d)</sup> | TSFR1M + 1.014% | 4.6930 | 12/25/33 | 352922 |
| 755078 | Bear Stearns Asset Backed Securities Trust Series SD3 M3<sup>(g)</sup> |  | 6.0000 | 09/25/34 | 852175 |
| 3297000 | Bear Stearns Asset Backed Securities Trust Series 2005-3 M3<sup>(d)</sup> | TSFR1M + 3.114% | 6.7930 | 09/25/35 | 3401213 |
| 1788000 | Bear Stearns Asset Backed Securities Trust Series 2006-SD1 M4<sup>(d)</sup> | TSFR1M + 2.364% | 6.0430 | 04/25/36 | 1912219 |
| 2778189 | Bear Stearns Asset Backed Securities Trust Series 2006-2 M7<sup>(d)</sup> | TSFR1M + 3.864% | 7.5430 | 07/25/36 | 2680697 |
| 11808 | Bear Stearns Asset Backed Securities Trust Series 2006-SD3 1A1A |  | 5.5000 | 08/25/36 | 11949 |
| 1549855 | Bear Stearns Asset Backed Securities Trust Series 2007-1 M1<sup>(d)</sup> | TSFR1M + 1.164% | 4.8430 | 01/25/37 | 1634139 |
| 277237 | Bear Stearns Asset Backed Securities Trust Series 2005-SD3 2M4<sup>(d)</sup> | TSFR1M + 3.264% | 6.9430 | 11/25/39 | 324008 |
| 902000 | Bear Stearns Asset Backed Securities Trust Series 2005-SD4 2M4<sup>(d)</sup> | TSFR1M + 3.264% | 6.9430 | 12/25/42 | 1054706 |
| 305997 | Bear Stearns Asset Backed Securities Trust Series 2005-SD4 2M3<sup>(d)</sup> | TSFR1M + 3.264% | 6.9430 | 12/25/42 | 378253 |
| 2581107 | Bear Stearns Asset Backed Securities Trust Series SD2 2M3<sup>(d)</sup> | TSFR1M + 3.864% | 7.5430 | 12/25/44 | 3255518 |
| 23965 | Bear Stearns Asset Backed Securities Trust Series 2007-SD2 1PO<sup>(h)</sup> |  | 0.0000 | 09/25/46 | 17814 |
| 118903 | Bear Stearns Asset Backed Securities Trust Series 2007-SD2 1A1B |  | 5.5000 | 09/25/46 | 111946 |
| 388701 | Bear Stearns Mortgage Funding Trust Series 2006-SL5 1A<sup>(d)</sup> | TSFR1M + 0.414% | 4.0930 | 12/25/36 | 731136 |
| 24050000 | Bear Stearns Mortgage Funding Trust Series 2007-SL1 2A<sup>(d)</sup> | US0001M + 0.300% | 4.0900 | 03/25/37 |  |
| 1714970 | Bear Stearns Mortgage Funding Trust Series 2007-SL1 1A<sup>(d)</sup> | US0001M + 0.320% | 4.1130 | 03/25/37 | 2546836 |
| 207571 | Bond Securitization Trust Series 2003-1 X<sup>(b),(f)</sup> |  | 0.0000 | 10/25/34 | 190965 |
| 67366 | CDC Mortgage Capital Trust Series 2002-HE1 M<sup>(d)</sup> | TSFR1M + 1.989% | 5.6680 | 01/25/33 | 844405 |
| 13796902 | Centex Home Equity Loan Trust Series 2004-A XIO<sup>(f)</sup> |  | 0.0000 | 01/25/34 | 2492300 |
| 90505 | Centex Home Equity Loan Trust Series 2004-C M2<sup>(d)</sup> | TSFR1M + 0.909% | 4.5880 | 06/25/34 | 89293 |
| 93681 | Centex Home Equity Loan Trust Series 2004-D MF2<sup>(g)</sup> |  | 6.0600 | 09/25/34 | 94300 |
| 14446 | Chase Funding Loan Acquisition Trust Series OPT1 M2<sup>(d)</sup> | TSFR1M + 1.614% | 5.2930 | 06/25/34 | 15255 |
| 34275 | Chase Funding Trust Series 2003-6 1A7<sup>(g)</sup> |  | 4.8560 | 11/25/34 | 33904 |
| 201046 | Chase Funding Trust Series Series 2003-3 2B<sup>(d)</sup> | TSFR1M + 4.614% | 8.2930 | 05/25/32 | 194401 |
| 106639 | Chase Funding Trust Series Series 2004-2 2M2<sup>(d)</sup> | TSFR1M + 1.614% | 5.2930 | 02/26/35 | 91679 |
| 903634 | ChaseFlex Trust Series 2005-2 3A4 |  | 7.5000 | 06/25/35 | 539767 |

---

---

| |
|:---|
| **RATIONAL SPECIAL SITUATIONS INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **March 31, 2026** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Principal<br>Amount ($)** |  | **Spread** | **Coupon<br>Rate (%)** | **Maturity** | **Fair Value** |
|  | **ASSET BACKED SECURITIES — 79.7% (Continued)** |  |  |  |  |
|  | **NON-AGENCY RESIDENTIAL MORTGAGE BACKED SECURITIES — 43.6% (Continued)** |  |  |  |  |
| 282149 | CHL Mortgage Pass-Through Trust Series 2003-53 M<sup>(b)</sup> |  | 6.1780 | 02/19/34 | $279467 |
| 181987 | CHL Mortgage Pass-Through Trust Series 2004-2 2A1<sup>(b)</sup> |  | 4.4370 | 02/25/34 | 169451 |
| 172673 | CHL Mortgage Pass-Through Trust Series 2004-5 2A7 |  | 5.0000 | 05/25/34 | 167434 |
| 1128699 | CHL Mortgage Pass-Through Trust Series 2004-7 6A1<sup>(b)</sup> |  | 5.3660 | 05/25/34 | 1095331 |
| 29635 | CHL Mortgage Pass-Through Trust Series 2004-8 1A6<sup>(h)</sup> |  | 0.0000 | 07/25/34 | 24812 |
| 1673623 | CHL Mortgage Pass-Through Trust Series 2004-25 2A1<sup>(d)</sup> | TSFR1M + 0.794% | 4.4730 | 02/25/35 | 1583279 |
| 1157 | CHL Mortgage Pass-Through Trust Series 2005-7 2A2<sup>(d)</sup> | TSFR1M + 0.834% | 4.5130 | 03/25/35 | 585 |
| 1639267 | CHL Mortgage Pass-Through Trust Series 2005-11 3A3<sup>(b)</sup> |  | 3.5980 | 04/25/35 | 1094032 |
| 208145 | CHL Mortgage Pass-Through Trust Series 2005-J2 3A12 |  | 5.0000 | 08/25/35 | 122637 |
| 669758 | CHL Mortgage Pass-Through Trust Series 2005-31 2A3<sup>(b)</sup> |  | 4.3500 | 01/25/36 | 615195 |
| 168559 | CHL Mortgage Pass-Through Trust Series 2006-J1 2A1 |  | 5.5000 | 02/25/36 | 165769 |
| 89580 | CHL Mortgage Pass-Through Trust Series 2007-J2 1A1 |  | 6.0000 | 07/25/37 | 83784 |
| 237012 | CIT Home Equity Loan Trust Series 2002-2 MV2<sup>(d)</sup> | TSFR1M + 2.004% | 5.6830 | 11/25/31 | 484102 |
| 567617 | CIT Home Equity Loan Trust Series 2002-1 AF7<sup>(g)</sup> |  | 6.1100 | 02/25/33 | 566295 |
| 70610 | Citicorp Mortgage Securities Trust Series 2006-1 1A4 |  | 6.0000 | 02/25/36 | 65805 |
| 153307 | Citicorp Mortgage Securities, Inc. Series 2005-2 1A3 |  | 5.5000 | 03/25/35 | 136064 |
| 84472 | Citigroup Mortgage Loan Trust Series 2004-HYB2 3A<sup>(b)</sup> |  | 5.3820 | 03/25/34 | 73098 |
| 13023 | Citigroup Mortgage Loan Trust Series 2013-8 1A2<sup>(b),(e)</sup> |  | 5.3000 | 05/25/35 | 12204 |
| 172494 | Citigroup Mortgage Loan Trust Series 2009-4 7A5<sup>(b),(e)</sup> |  | 5.4960 | 05/25/35 | 162759 |
| 199180 | Citigroup Mortgage Loan Trust Series 2006-AR2 1A2<sup>(b)</sup> |  | 5.0800 | 03/25/36 | 196401 |
| 247662 | Citigroup Mortgage Loan Trust Series 2013-8 2A2<sup>(b),(e)</sup> |  | 5.0870 | 11/25/36 | 161733 |
| 1086367 | Citigroup Mortgage Loan Trust Series 2008-RR1 A1A1<sup>(d),(e)</sup> | TSFR1M + 0.184% | 3.8630 | 01/25/37 | 970887 |
| 1116093 | Citigroup Mortgage Loan Trust Series 2007-6 1A4A<sup>(b)</sup> |  | 4.5710 | 03/25/37 | 1108319 |
| 528859 | Citigroup Mortgage Loan Trust, Inc. Series 2004-RR1 2A1<sup>(d),(e)</sup> | TSFR1M + 0.514% | 4.1930 | 01/25/29 | 504944 |
| 3020203 | Citigroup Mortgage Loan Trust, Inc. Series 2003-HE3 M4<sup>(d)</sup> | TSFR1M + 4.614% | 8.2930 | 12/25/33 | 3459990 |
| 26006 | Citigroup Mortgage Loan Trust, Inc. Series 2004-NCM2 2CB3 |  | 8.0000 | 08/25/34 | 27090 |
| 226910 | Citigroup Mortgage Loan Trust, Inc. Series 2004-RES1 M7<sup>(d)</sup> | TSFR1M + 2.739% | 6.4180 | 11/25/34 | 918857 |
| 677347 | Citigroup Mortgage Loan Trust, Inc. Series 5 1A5<sup>(b)</sup> |  | 2.9850 | 08/25/35 | 588108 |
| 855819 | Citigroup Mortgage Loan Trust, Inc. Series 2005-9 2A3 |  | 5.7500 | 11/25/35 | 676636 |
| 47266 | Citigroup Mortgage Loan Trust, Inc.<sup>(d),(e)</sup> | TSFR1M + 3.114% | 7.1060 | 07/25/44 | 316734 |
| 48563 | CitiMortgage Alternative Loan Trust Series 2007-A1 1APO<sup>(h)</sup> |  | 0.0000 | 01/25/37 | 26818 |
| 128612 | CitiMortgage Alternative Loan Trust Series 2007-A1 1A9<sup>(c),(d)</sup> | -(TSFR1M + 0.114%) + 5.400% | 1.6070 | 01/25/37 | 9178 |
| 13459 | CitiMortgage Alternative Loan Trust Series 2007-A1 1A1 |  | 6.0000 | 01/25/37 | 12184 |
| 11151101 | Conseco Finance Corporation Series 7 B2<sup>(b)</sup> |  | 0.0820 | 10/15/26 | 101961 |

---

---

| |
|:---|
| **RATIONAL SPECIAL SITUATIONS INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **March 31, 2026** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Principal<br>Amount ($)** |  | **Spread** | **Coupon<br>Rate (%)** | **Maturity** | **Fair Value** |
|  | **ASSET BACKED SECURITIES — 79.7% (Continued)** |  |  |  |  |
|  | **NON-AGENCY RESIDENTIAL MORTGAGE BACKED SECURITIES — 43.6% (Continued)** |  |  |  |  |
| 321594 | Conseco Finance Corporation Series 1996-8 B1<sup>(b)</sup> |  | 7.9500 | 11/15/26 | $323504 |
| 1012313 | Conseco Finance Corporation Series 6 B1<sup>(b)</sup> |  | 8.0000 | 09/15/27 | 1017987 |
| 1671476 | Conseco Finance Corporation Series 1997-8 M1<sup>(b)</sup> |  | 7.0200 | 10/15/27 | 1695210 |
| 548508 | Conseco Finance Corporation Series 9 B1<sup>(b)</sup> |  | 7.6500 | 01/15/28 | 553495 |
| 2178679 | Conseco Finance Corporation Series 1997-3 M1<sup>(b)</sup> |  | 7.5300 | 03/15/28 | 2206079 |
| 924004 | Conseco Finance Corporation Series 1997-2 M1<sup>(b)</sup> |  | 7.5400 | 06/15/28 | 968621 |
| 2681154 | Conseco Finance Corporation Series 7 M1<sup>(b)</sup> |  | 7.0300 | 07/15/28 | 2715225 |
| 1255932 | Conseco Finance Corporation Series 1996-10 B1<sup>(b)</sup> |  | 7.2400 | 11/15/28 | 1268709 |
| 132893 | Conseco Finance Corporation Series 1998-2 M1<sup>(b)</sup> |  | 6.9400 | 12/01/28 | 133890 |
| 152064 | Conseco Finance Corporation Series 4 M1<sup>(b)</sup> |  | 7.2200 | 02/15/29 | 152608 |
| 2475193 | Conseco Finance Corporation<sup>(b)</sup> |  | 6.9700 | 05/15/29 | 2512587 |
| 1683826 | Conseco Finance Corporation Series 3 M1<sup>(b)</sup> |  | 6.8600 | 03/01/30 | 1731181 |
| 143934 | Conseco Finance Corporation<sup>(b)</sup> |  | 6.9800 | 09/01/30 | 145299 |
| 325566 | Conseco Finance Corporation Series 3 A9<sup>(b)</sup> |  | 6.5300 | 02/01/31 | 292605 |
| 1008785 | Conseco Finance Corporation Series 3 A8<sup>(b)</sup> |  | 7.0600 | 02/01/31 | 921274 |
| 1578082 | Conseco Finance Securitizations Corporation Series 6 A1<sup>(b),(e)</sup> |  | 2.1460 | 06/01/30 | 359183 |
| 179190 | Conseco Finance Securitizations Corporation Series 3 M1<sup>(b)</sup> |  | 7.1500 | 05/01/33 | 184708 |
| 1893154 | Conseco Finance Securitizations Corporation Series 2002-1 M2<sup>(b)</sup> |  | 9.5460 | 12/01/33 | 1930992 |
| 61701 | Contimortgage Home Equity Loan Trust Series 1996-4 A10<sup>(d)</sup> | TSFR1M + 0.594% | 4.2670 | 01/15/28 | 49201 |
| 219722 | Countrywide Asset-Backed Certificates Series BC2 B<sup>(d)</sup> | TSFR1M + 4.464% | 8.1430 | 08/25/33 | 248748 |
| 379782 | Countrywide Asset-Backed Certificates Series 2004-BC2 M5<sup>(d)</sup> | TSFR1M + 2.739% | 6.4180 | 10/25/33 | 391127 |
| 19201 | Countrywide Asset-Backed Certificates Series 2004-S1 M1<sup>(g)</sup> |  | 5.2520 | 02/25/35 | 19139 |
| 921539 | Countrywide Asset-Backed Certificates Series 2006-13 1AF5<sup>(g)</sup> |  | 3.9240 | 01/25/37 | 807380 |
| 49952 | Countrywide Home Equity Loan Trust Series 2006-HW 2A1A<sup>(d)</sup> | TSFR1M + 0.264% | 3.9370 | 11/15/36 | 42725 |
| 2769832 | Countrywide Home Equity Loan Trust Series 2006-HW 2A1B<sup>(d)</sup> | TSFR1M + 0.264% | 3.9370 | 11/15/36 | 2319099 |
| 166679 | Credit Suisse First Boston Mortgage Securities Series 2005-8 6A1 |  | 5.5000 | 08/25/30 | 87162 |
| 344651 | Credit Suisse First Boston Mortgage Securities Series MH29 B1<sup>(b)</sup> |  | 8.1000 | 09/25/31 | 348881 |
| 89435 | Credit Suisse First Boston Mortgage Securities Series AR2 2M2<sup>(d)</sup> | TSFR1M + 2.514% | 6.1930 | 02/25/32 | 102539 |
| 203871 | Credit Suisse First Boston Mortgage Securities Series 2002-P1A A<sup>(b),(e)</sup> |  | 4.4590 | 03/25/32 | 198146 |
| 101077 | Credit Suisse First Boston Mortgage Securities Series 2002-18 1M2<sup>(b)</sup> |  | 7.0000 | 06/25/32 | 98808 |
| 409427 | Credit Suisse First Boston Mortgage Securities Series 2002-HE1 A2<sup>(d)</sup> | TSFR1M + 0.854% | 4.0310 | 08/25/32 | 398290 |
| 594781 | Credit Suisse First Boston Mortgage Securities Series HE16 B1<sup>(d)</sup> | TSFR1M + 2.914% | 6.5930 | 10/25/32 | 737637 |
| 55512 | Credit Suisse First Boston Mortgage Securities Series 2002-AR31 CB1<sup>(b)</sup> |  | 6.5220 | 11/25/32 | 54558 |
| 14156 | Credit Suisse First Boston Mortgage Securities Series 2002-AR31 CB2<sup>(b)</sup> |  | 6.5220 | 11/25/32 | 13947 |

---

---

| |
|:---|
| **RATIONAL SPECIAL SITUATIONS INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **March 31, 2026** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Principal<br>Amount ($)** |  | **Spread** | **Coupon<br>Rate (%)** | **Maturity** | **Fair Value** |
| | **ASSET BACKED SECURITIES — 79.7% (Continued)** | |  |  | |
|  | **NON-AGENCY RESIDENTIAL MORTGAGE BACKED SECURITIES — 43.6% (Continued)** |  |  |  |  |
| 34479 | Credit Suisse First Boston Mortgage Securities Series 2003-8 CB2<sup>(b)</sup> |  | 5.6750 | 04/25/33 | $32841 |
| 140057 | Credit Suisse First Boston Mortgage Securities Series AR26 9M3<sup>(d)</sup> | TSFR1M + 2.864% | 6.5430 | 11/25/33 | 146785 |
| 760441 | Credit Suisse First Boston Mortgage Securities Series 2004-AR1 6M2<sup>(d)</sup> | TSFR1M + 2.214% | 5.8930 | 02/25/34 | 898067 |
| 693258 | Credit Suisse First Boston Mortgage Securities Series 2004-FRE1 B3<sup>(d)</sup> | TSFR1M + 3.364% | 3.9370 | 04/25/34 | 651950 |
| 49902 | Credit Suisse First Boston Mortgage Securities Series 2004-5 5A1 |  | 5.0000 | 09/25/34 | 42973 |
| 657636 | Credit Suisse First Boston Mortgage Securities Series 2005-12 5A1 |  | 5.2500 | 01/25/36 | 569882 |
| 4118107 | Credit Suisse First Boston Mortgage Securities Series CF1 B<sup>(d),(e)</sup> | TSFR1M + 2.964% | 6.6380 | 03/25/45 | 4889783 |
| 373 | Credit-Based Asset Servicing and Securitization Series 1999-3 A<sup>(b),(e)</sup> |  | 3.1650 | 02/03/29 | 354 |
| 2532422 | Credit-Based Asset Servicing and Securitization Series CB1 B2<sup>(d)</sup> | TSFR1M + 5.889% | 9.5680 | 02/25/30 | 2453142 |
| 876565 | Credit-Based Asset Servicing and Securitization Series 2002-CB2 M2<sup>(d)</sup> | TSFR1M + 2.064% | 5.7430 | 04/25/32 | 938863 |
| 53377 | Credit-Based Asset Servicing and Securitization Series CB4 M1<sup>(d)</sup> | TSFR1M + 1.239% | 4.9180 | 02/25/33 | 63732 |
| 668943 | Credit-Based Asset Servicing and Securitization Series 2003-RP1 M2<sup>(d),(e)</sup> | TSFR1M + 4.614% | 8.2930 | 03/25/33 | 583807 |
| 4464000 | Credit-Based Asset Servicing and Securitization Series RP1 B3<sup>(e),(g)</sup> |  | 5.9000 | 04/25/36 | 5202263 |
| 528018 | Credit-Based Asset Servicing and Securitization Series 2006-RP2 M1<sup>(d),(e)</sup> | TSFR1M + 1.164% | 4.8430 | 07/25/36 | 624703 |
| 248255 | Credit-Based Asset Servicing and Securitization Series 2006-CB2 AF4<sup>(g)</sup> |  | 2.9210 | 12/25/36 | 202377 |
| 710632 | Credit-Based Asset Servicing and Securitization Series 2007-SL1A A2<sup>(d),(e)</sup> | TSFR1M + 0.574% | 4.2530 | 02/25/37 | 582005 |
| 775268 | Credit-Based Asset Servicing and Securitization Series 2004-RP1 M3<sup>(d),(e)</sup> | TSFR1M + 3.114% | 6.7930 | 05/25/50 | 773680 |
| 553042 | CSFB Mortgage-Backed Pass-Through Certificates Series 2005-AGE1 B3<sup>(d)</sup> | TSFR1M + 4.114% | 7.7930 | 02/25/32 | 646950 |
| 481775 | CSFB Mortgage-Backed Pass-Through Certificates Series 2002-29 2B1 |  | 7.0000 | 10/25/32 | 488207 |
| 6573 | CSFB Mortgage-Backed Pass-Through Certificates Series 2003-AR18 4M3<sup>(d)</sup> | TSFR1M + 3.014% | 6.6930 | 07/25/33 | 6547 |
| 182685 | CSFB Mortgage-Backed Pass-Through Certificates Series 2003-27 8A1 |  | 6.0000 | 11/25/33 | 184912 |
| 460411 | CSFB Mortgage-Backed Pass-Through Certificates Series 2005-9 4A2<sup>(d)</sup> | TSFR1M + 0.464% | 4.1430 | 10/25/35 | 388170 |
| 55436 | CSMC Series 2011-6R 4A2<sup>(b),(e)</sup> |  | 3.8390 | 04/28/37 | 52661 |
| 506393 | CSMC Mortgage-Backed Trust Series 2007-1 5A13 |  | 6.0000 | 02/25/37 | 261855 |
| 121503 | CSMC Mortgage-Backed Trust Series 2007-3 4A6<sup>(d)</sup> | TSFR1M + 0.364% | 4.0430 | 04/25/37 | 92930 |
| 147428 | CSMC Mortgage-Backed Trust Series 2007-3 3A4 |  | 5.0000 | 04/25/37 | 120128 |
| 2303021 | CSMC Mortgage-Backed Trust Series 2007-4 5A1 |  | 1.0390 | 06/25/37 | 348058 |
| 168483 | CSMC Mortgage-Backed Trust Series 2007-4 1A1<sup>(d)</sup> | TSFR1M + 0.514% | 4.1930 | 06/25/37 | 86648 |
| 961688 | CWABS Asset-Backed Certificates Trust Series 2004-10 MV4<sup>(d)</sup> | TSFR1M + 1.689% | 4.2120 | 12/25/34 | 910498 |
| 3138631 | CWABS Asset-Backed Certificates Trust Series 2005-13 AF5<sup>(g)</sup> |  | 6.5520 | 04/25/36 | 2824822 |
| 1275267 | CWABS Asset-Backed Certificates Trust Series 2005-17 1AF4<sup>(g)</sup> |  | 6.5470 | 05/25/36 | 1054244 |

---

---

| |
|:---|
| **RATIONAL SPECIAL SITUATIONS INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **March 31, 2026** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Principal<br>Amount ($)** |  | **Spread** | **Coupon<br>Rate (%)** | **Maturity** | **Fair Value** |
|  | **ASSET BACKED SECURITIES — 79.7% (Continued)** |  |  |  |  |
|  | **NON-AGENCY RESIDENTIAL MORTGAGE BACKED SECURITIES — 43.6% (Continued)** |  |  |  |  |
| 4486746 | CWABS Asset-Backed Certificates Trust Series 2006-14 M1<sup>(d)</sup> | TSFR1M + 0.549% | 4.2280 | 02/25/37 | $4814383 |
| 1616912 | CWABS Asset-Backed Certificates Trust Series 2007-4 A5W<sup>(g)</sup> |  | 4.2290 | 04/25/47 | 1316506 |
| 29334 | CWABS Revolving Home Equity Loan Trust Series 2004-O 2A<sup>(d)</sup> | TSFR1M + 0.394% | 4.0670 | 02/15/34 | 29206 |
| 228950 | CWABS, Inc. Asset-Backed Certificates Series 2004-1 M1<sup>(d)</sup> | TSFR1M + 0.864% | 4.5430 | 03/25/34 | 238278 |
| 217606 | CWABS, Inc. Asset-Backed Certificates Trust Series 2004-4 B<sup>(d)</sup> | US0001M + 4.500% | 8.2930 | 08/25/33 | 324698 |
| 324881 | CWHEQ Home Equity Loan Trust Series 2006-S6 A5<sup>(b)</sup> |  | 5.9620 | 03/25/34 | 310775 |
| 938615 | CWHEQ Home Equity Loan Trust Series 2006-S5 A5 |  | 6.1550 | 06/25/35 | 1469958 |
| 123796 | CWHEQ Home Equity Loan Trust Series 2006-S7 A5<sup>(b)</sup> |  | 5.9450 | 11/25/35 | 124305 |
| 288755 | CWHEQ Revolving Home Equity Loan Trust Series 2005-K 2A4<sup>(d)</sup> | TSFR1M + 0.454% | 4.1270 | 02/15/36 | 274508 |
| 55828 | CWHEQ Revolving Home Equity Loan Trust Series 2006-I 1A<sup>(d)</sup> | US0001M + 0.140% | 3.9270 | 01/15/37 | 54221 |
| 4252509 | CWHEQ Revolving Home Equity Loan Trust Series 2006-I 2A<sup>(d)</sup> | TSFR1M + 0.254% | 3.9270 | 01/15/37 | 4113520 |
| 2394727 | CWHEQ Revolving Home Equity Loan Trust Series Series C 2A<sup>(d)</sup> | TSFR1M + 0.294% | 3.9670 | 07/15/35 | 2302252 |
| 1394262 | CWHEQ Revolving Home Equity Loan Trust Series Series D 2A<sup>(d)</sup> | TSFR1M + 0.304% | 3.9770 | 11/15/35 | 1340311 |
| 2782745 | CWHEQ Revolving Home Equity Loan Trust Series Series J 1A<sup>(d)</sup> | TSFR1M + 0.364% | 4.0370 | 02/15/36 | 2675128 |
| 2405360 | CWHEQ Revolving Home Equity Loan Trust Series Series J 2A<sup>(d)</sup> | TSFR1M + 0.364% | 4.0370 | 02/15/36 | 2312105 |
| 1825742 | CWHEQ Revolving Home Equity Loan Trust Series Series B A<sup>(d)</sup> | TSFR1M + 0.264% | 3.9370 | 02/15/37 | 1739736 |
| 807550 | CWHEQ Revolving Home Equity Loan Trust Series Series A A<sup>(d)</sup> | TSFR1M + 0.234% | 3.9070 | 04/15/37 | 772056 |
| 371143 | Delta Funding Home Equity Loan Trust Series 1999-3 A1F<sup>(g)</sup> |  | 7.9620 | 09/15/29 | 352957 |
| 14284089 | Deutsche Alt-A Securities Mortgage Loan Trust Series AR3 1A2<sup>(d)</sup> | TSFR1M + 0.534% | 4.2130 | 06/25/37 | 12526818 |
| 1211776 | Deutsche Alt-A Securities Mortgage Loan Trust Series 2007-1 1A4A<sup>(d)</sup> | TSFR1M + 0.334% | 4.0130 | 08/25/37 | 1072384 |
| 85566 | Deutsche Alt-B Securities, Inc. Mortgage Loan Trust Series 2006-AB1 A3<sup>(g)</sup> |  | 6.3650 | 02/25/36 | 80077 |
| 123186 | Deutsche Alt-B Securities, Inc. Mortgage Loan Trust Series 2006-AB2 A3<sup>(b)</sup> |  | 6.2700 | 06/25/36 | 112157 |
| 751350 | Deutsche Financial Capital Securitization, LLC Series 1998-I B1 |  | 7.2750 | 04/15/28 | 747779 |
| 654327 | Deutsche Mortgage Securities, Inc. Mortgage Loan Series 2006-PR1 3AF1<sup>(d),(e)</sup> | TSFR1M + 0.394% | 4.0670 | 04/15/36 | 604233 |
| 1653448 | Deutsche Mortgage Securities, Inc. Mortgage Loan Series 2006-PR1 3AF2<sup>(d),(e)</sup> | TSFR1M + 0.394% | 4.0670 | 04/15/36 | 1526862 |
| 486676 | Deutsche Mortgage Securities, Inc. Mortgage Loan Series 2006-PR1 4AF1<sup>(d),(e)</sup> | TSFR1M + 0.404% | 4.0770 | 04/15/36 | 448426 |
| 24340 | Deutsche Mortgage Securities, Inc. Mortgage Loan Trust Series 2004-1 B2<sup>(b)</sup> |  | 5.5000 | 09/25/33 | 23804 |
| 133177 | DSLA Mortgage Loan Trust Series 2004-AR1 A2B<sup>(d)</sup> | TSFR1M + 0.954% | 4.6310 | 09/19/44 | 120030 |
| 524160 | DSLA Mortgage Loan Trust Series 2004-AR2 A2B<sup>(d)</sup> | TSFR1M + 0.914% | 4.5910 | 11/19/44 | 490395 |
| 803311 | DSLA Mortgage Loan Trust Series 2004-AR2 A1B<sup>(d)</sup> | TSFR1M + 0.914% | 4.5910 | 11/19/44 | 746337 |
| 1414270 | DSLA Mortgage Loan Trust Series 2005-AR3 2A1B<sup>(d)</sup> | TSFR1M + 0.594% | 4.2710 | 07/19/45 | 1310796 |

---

---

| |
|:---|
| **RATIONAL SPECIAL SITUATIONS INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **March 31, 2026** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br>Amount ($)** | **Spread** | **Coupon<br>Rate (%)** | **Maturity** | **Fair Value** |
| 4141203 DSLA Mortgage Loan Trust Series 2007-AR1 1A1B<sup>(d)</sup> | TSFR1M + 0.254% | 3.9310 | 04/19/47 | $3293932 |
| 201039 Equity One Mortgage Pass-Through Trust Series 2002-1 M1<sup>(b)</sup> |  | 6.2820 | 08/25/32 | 199359 |
| 209469 Finance America Mortgage Loan Trust Series 2004-3 M2<sup>(d)</sup> | TSFR1M + 1.059% | 4.7380 | 11/25/34 | 201611 |
| 195762 Finance America Mortgage Loan Trust Series 2004-3 M3<sup>(d)</sup> | TSFR1M + 1.134% | 4.8130 | 11/25/34 | 183591 |
| 248998 First Franklin Mortgage Loan Trust Series 2002-FF1 M2<sup>(d)</sup> | TSFR1M + 1.914% | 5.5930 | 04/25/32 | 251774 |
| 7920 First Franklin Mortgage Loan Trust Series 2003-FFB X<sup>(b),(f)</sup> |  | 0.0000 | 02/25/33 |  |
| 893839 First Franklin Mortgage Loan Trust Series 2003-FF1<sup>(d)</sup> | TSFR1M + 2.739% | 6.4180 | 03/25/33 | 1238601 |
| 157074 First Franklin Mortgage Loan Trust Series 2004-FF2 M5<sup>(d)</sup> | TSFR1M + 1.614% | 5.2930 | 03/25/34 | 155919 |
| 4807869 First Franklin Mortgage Loan Trust Series 2004-FFH2 M4<sup>(d)</sup> | TSFR1M + 1.689% | 5.3680 | 06/25/34 | 4479892 |
| 253411 First Franklin Mortgage Loan Trust Series 2004-FF5 A3C<sup>(d)</sup> | TSFR1M + 1.114% | 4.7930 | 08/25/34 | 238937 |
| 1057710 First Franklin Mortgage Loan Trust Series 2004-FFH3 M4<sup>(d)</sup> | TSFR1M + 1.719% | 4.4200 | 10/25/34 | 896430 |
| 609182 First Franklin Mortgage Loan Trust Series 2004-FFH3 M2<sup>(d)</sup> | TSFR1M + 1.044% | 4.4220 | 10/25/34 | 604080 |
| 146492 First Franklin Mortgage Loan Trust Series 2005-FFH3 M3<sup>(d)</sup> | TSFR1M + 0.984% | 4.6630 | 09/25/35 | 146797 |
| 9491 First Franklin Mortgage Loan Trust Series 2004-FFA X<sup>(e),(f)</sup> |  | 0.0000 | 04/25/38 | 9413 |
| 127648 First Horizon Alternative Mortgage Securities Series 2004-AA5 2A1<sup>(b)</sup> |  | 5.0030 | 12/25/34 | 122138 |
| 330932 First Horizon Alternative Mortgage Securities Series 2004-AA7 1A1<sup>(b)</sup> |  | 4.3110 | 02/25/35 | 308675 |
| 23754 First Horizon Alternative Mortgage Securities Series 2005-AA1 1A1<sup>(b)</sup> |  | 4.3410 | 03/25/35 | 13131 |
| 1725535 First Horizon Alternative Mortgage Securities Series 2005-AA3 2A1<sup>(b)</sup> |  | 3.1220 | 05/25/35 | 786939 |
| 164971 First Horizon Alternative Mortgage Securities Series 2005-AA5 1A1<sup>(b)</sup> |  | 5.1860 | 07/25/35 | 81337 |
| 1112 First Horizon Alternative Mortgage Securities Series 2006-AA4 1A1<sup>(b),(f)</sup> |  | 0.0000 | 07/25/36 |  |
| 9110 First Horizon Mortgage Pass-Through Trust Series 2000-H 4B2<sup>(b)</sup> |  | 5.9920 | 05/25/30 | 8976 |
| 11600 First Horizon Mortgage Pass-Through Trust Series 2000-H 3B1<sup>(b)</sup> |  | 6.4510 | 05/25/30 | 11538 |
| 136778 First Horizon Mortgage Pass-Through Trust Series 2004-FL1 1A1<sup>(d)</sup> | TSFR1M + 0.384% | 4.0630 | 02/25/35 | 128074 |
| 133780 First Horizon Mortgage Pass-Through Trust Series 2005-AR4 2A1<sup>(b)</sup> |  | 4.6430 | 10/25/35 | 122099 |
| 575640 First Horizon Mortgage Pass-Through Trust Series 2005-AR6 3A1<sup>(b)</sup> |  | 6.3750 | 01/25/36 | 412442 |
| 455020 First Horizon Mortgage Pass-Through Trust Series 2006-AR3 3A1<sup>(b)</sup> |  | 3.5150 | 10/25/36 | 365535 |
| 337235 First Horizon Mortgage Pass-Through Trust Series 2004-AR1 3A1<sup>(b)</sup> |  | 2.8770 | 05/25/37 | 280107 |
| 30983 First Horizon Mortgage Pass-Through Trust Series 2007-AR2 2A1<sup>(b)</sup> |  | 2.1110 | 07/25/37 | 14787 |
| 140436 FirstCity Capital Home Equity Loan Trust Series 1998-2 A3<sup>(d),(e)</sup> | TSFR1M + 1.714% | 5.3930 | 01/25/29 | 140986 |
| 255968 FirstCity Capital Home Equity Loan Trust Series 1998-2 A1<sup>(e)</sup> |  | 6.9900 | 01/25/29 | 256645 |
| 649029 Floating Rate Mortgage Pass-through Certificates Series 2 M3<sup>(d)</sup> | TSFR1M + 3.039% | 6.7180 | 10/25/31 | 732621 |
| 139592 Fremont Home Loan Trust Series 1999-3 A1<sup>(d)</sup> | TSFR1M + 0.824% | 4.5030 | 12/25/29 | 137281 |
| 160873 Fremont Home Loan Trust Series 1999-3 A2<sup>(d)</sup> | TSFR1M + 0.904% | 4.5830 | 12/25/29 | 157727 |
| 1001064 Fremont Home Loan Trust Series 2003-1 M1<sup>(d)</sup> | TSFR1M + 1.389% | 5.0680 | 02/25/33 | 1148543 |

---

---

| |
|:---|
| **RATIONAL SPECIAL SITUATIONS INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **March 31, 2026** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br>Amount ($)** | **Spread** | **Coupon<br>Rate (%)** | **Maturity** | **Fair Value** |
| 1070792 Fremont Home Loan Trust Series 2002-2 M1<sup>(d)</sup> | TSFR1M + 1.839% | 5.5180 | 10/25/33 | $1330823 |
| 35506 Fremont Home Loan Trust Series 2004-B M7<sup>(d)</sup> | TSFR1M + 3.114% | 6.7930 | 05/25/34 | 33001 |
| 1476 Fremont Home Loan Trust Series 2005-A M3<sup>(d)</sup> | TSFR1M + 0.849% | 4.5280 | 01/25/35 | 1471 |
| 109647 Global Mortgage Securitization Ltd. Series 2004-A A2<sup>(d),(e)</sup> | TSFR1M + 0.434% | 4.1130 | 11/25/32 | 108388 |
| 725643 GMACM Home Equity Loan Trust Series 2004-HE3 A2VN<sup>(d),(e)</sup> | TSFR1M + 0.614% | 4.2930 | 10/25/34 | 691773 |
| 8652 GMACM Home Equity Loan Trust Series 2005-HE1 A1VN<sup>(d),(e)</sup> | TSFR1M + 0.614% | 4.2880 | 08/25/35 | 4093 |
| 143952 GMACM Home Equity Loan Trust Series 2005-HE3 A3<sup>(d)</sup> | TSFR1M + 0.614% | 4.2930 | 02/25/36 | 140340 |
| 689776 GMACM Home Equity Loan Trust Series 2005-HE3 A1VN<sup>(d),(e)</sup> | TSFR1M + 0.614% | 4.2930 | 02/25/36 | 645737 |
| 677966 GMACM Home Equity Loan Trust Series 2007-HE2 A1<sup>(d)</sup> | TSFR1M + 0.254% | 3.9330 | 12/25/37 | 634163 |
| 514446 GMACM Home Equity Loan Trust Series 2007-HE2 A4<sup>(g)</sup> |  | 7.4240 | 12/25/37 | 501627 |
| 1555193 GMACM Mortgage Loan Trust Series 2005-AR4 3A1<sup>(b)</sup> |  | 3.6890 | 07/19/35 | 1348122 |
| 255779 GMACM Mortgage Loan Trust Series 2005-AR6 3A1<sup>(b)</sup> |  | 3.7230 | 11/19/35 | 228408 |
| 1285679 GreenPoint Mortgage Funding Trust Series 2006-AR2 4A1<sup>(d)</sup> | 12MTA + 2.000% | 5.9720 | 03/25/36 | 1185055 |
| 55765 GreenPoint Mortgage Funding Trust Series 2006-AR3 4A1<sup>(d)</sup> | TSFR1M + 0.534% | 4.2130 | 04/25/36 | 50860 |
| 245811 GreenPoint Mortgage Funding Trust Series 2005-AR4 1A1<sup>(d)</sup> | TSFR1M + 0.634% | 4.3130 | 10/25/45 | 232478 |
| 245228 GreenPoint Mortgage Funding Trust Series 2005-AR4 3A1<sup>(d)</sup> | 12MTA + 1.400% | 5.2590 | 10/25/45 | 193073 |
| 190769 GreenPoint Mortgage Funding Trust Series 2005-AR5 3A1<sup>(d)</sup> | TSFR1M + 0.674% | 4.3530 | 11/25/45 | 144269 |
| 1272453 GreenPoint Mortgage Loan Trust Series 2004-1 A<sup>(d)</sup> | TSFR1M + 1.264% | 4.9430 | 10/25/34 | 1086527 |
| 310545 GreenPoint MTA Trust Series 2005-AR3 1A1<sup>(d)</sup> | TSFR1M + 0.594% | 4.2730 | 08/25/45 | 265857 |
| 1542740 GSAA Home Equity Trust Series 2004-5 M2<sup>(g)</sup> |  | 4.2810 | 06/25/34 | 1375046 |
| 92688 GSAA Home Equity Trust Series 2005-3 B1<sup>(d)</sup> | TSFR1M + 1.989% | 5.6680 | 12/25/34 | 92622 |
| 918154 GSAA Home Equity Trust Series 2005-2 B3<sup>(d)</sup> | TSFR1M + 3.564% | 7.2430 | 12/25/34 | 876501 |
| 210671 GSAA Home Equity Trust Series 2005-9 M2<sup>(d)</sup> | TSFR1M + 0.864% | 4.5430 | 08/25/35 | 215971 |
| 165653 GSAA Home Equity Trust Series 2007-7 A4<sup>(d)</sup> | TSFR1M + 0.654% | 4.3330 | 07/25/37 | 162595 |
| 71801 GSAMP Trust Series 2004-HE1 M1<sup>(d)</sup> | TSFR1M + 0.939% | 4.6180 | 05/25/34 | 67244 |
| 1198286 GSAMP Trust Series 2004-SD1 M2<sup>(d)</sup> | TSFR1M + 2.514% | 6.1930 | 06/25/34 | 1092588 |
| 3067363 GSAMP Trust Series 2004-AR2 M2<sup>(d)</sup> | TSFR1M + 1.014% | 4.6930 | 08/25/34 | 3374370 |
| 140045 GSMPS Mortgage Loan Trust Series 1998-2 A<sup>(b),(e)</sup> |  | 7.7500 | 05/19/27 | 117569 |
| 48560 GSMPS Mortgage Loan Trust Series 1998-3 A<sup>(b),(e)</sup> |  | 5.1240 | 09/19/27 | 47077 |
| 104493 GSMPS Mortgage Loan Trust Series 1999-2 A<sup>(b),(e)</sup> |  | 8.0000 | 09/19/27 | 99835 |
| 40040 GSMPS Mortgage Loan Trust Series 1998-1 A<sup>(b),(e)</sup> |  | 8.0000 | 09/19/27 | 39341 |
| 271964 GSMPS Mortgage Loan Trust Series 2001-2 A<sup>(b),(e)</sup> |  | 7.5000 | 06/19/32 | 267171 |
| 79350 GSR Mortgage Loan Trust Series 2003-1 B1<sup>(b)</sup> |  | 5.2600 | 03/25/33 | 75777 |
| 8184 GSR Mortgage Loan Trust Series 2003-1 A2<sup>(d)</sup> | H15T1Y + 1.750% | 5.2700 | 03/25/33 | 8234 |

---

---

| |
|:---|
| **RATIONAL SPECIAL SITUATIONS INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **March 31, 2026** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Principal<br>Amount ($)** |  | **Spread** | **Coupon<br>Rate (%)** | **Maturity** | **Fair Value** |
|  | **ASSET BACKED SECURITIES — 79.7% (Continued)** |  |  |  |  |
|  | **NON-AGENCY RESIDENTIAL MORTGAGE BACKED SECURITIES — 43.6% (Continued)** |  |  |  |  |
| 58158 | GSR Mortgage Loan Trust Series 2003-3F B3<sup>(b)</sup> |  | 5.9290 | 04/25/33 | $55067 |
| 133892 | GSR Mortgage Loan Trust Series 2003-4F B3<sup>(b)</sup> |  | 5.8870 | 05/25/33 | 134458 |
| 33162 | GSR Mortgage Loan Trust Series 2003-9 A2<sup>(d)</sup> | TSFR12M + 2.465% | 5.9390 | 08/25/33 | 32848 |
| 7025 | GSR Mortgage Loan Trust Series 2004-15F 3A1<sup>(d)</sup> | TSFR1M + 0.414% | 4.0930 | 12/25/34 | 6264 |
| 187582 | GSR Mortgage Loan Trust Series 2005-1F 4A1<sup>(d)</sup> | TSFR1M + 0.414% | 4.0930 | 01/25/35 | 175084 |
| 46298 | GSR Mortgage Loan Trust Series 2005-7F 2A6 |  | 5.5000 | 09/25/35 | 45890 |
| 83749 | GSR Mortgage Loan Trust Series 2005-AR5 1A1<sup>(b)</sup> |  | 6.1450 | 10/25/35 | 80468 |
| 195746 | GSR Mortgage Loan Trust Series 2005-AR7 5A1<sup>(b)</sup> |  | 4.4590 | 11/25/35 | 166852 |
| 901285 | GSR Mortgage Loan Trust Series 2005-8F 2A6 |  | 5.5000 | 11/25/35 | 866796 |
| 390467 | GSR Mortgage Loan Trust Series 2005-8F 2A4 |  | 5.5000 | 11/25/35 | 375395 |
| 292582 | GSR Mortgage Loan Trust Series 2005-8F 2A1 |  | 5.5000 | 11/25/35 | 281289 |
| 102523 | GSR Mortgage Loan Trust Series 2006-1F 1A6<sup>(d)</sup> | TSFR1M + 1.064% | 4.7430 | 02/25/36 | 1200652 |
| 985426 | GSR Mortgage Loan Trust Series 2006-2F 1A1 |  | 5.0000 | 02/25/36 | 908940 |
| 700467 | GSR Mortgage Loan Trust Series 2006-1F 4A1 |  | 5.5000 | 02/25/36 | 492535 |
| 4588 | GSR Mortgage Loan Trust Series 2006-1F 1A3 |  | 5.5000 | 02/25/36 | 58945 |
| 2999 | GSR Mortgage Loan Trust Series 2006-1F 1A9 |  | 5.5000 | 02/25/36 | 24035 |
| 1163691 | GSR Mortgage Loan Trust Series 2006-2F 2A13 |  | 5.7500 | 02/25/36 | 1017705 |
| 1375017 | GSR Mortgage Loan Trust Series 2006-2F 2A17 |  | 5.7500 | 02/25/36 | 1202520 |
| 2604000 | GSR Mortgage Loan Trust Series 2006-4F 5A11<sup>(f)</sup> |  | 0.0000 | 05/25/36 | 695000 |
| 65147000 | GSR Mortgage Loan Trust Series 2006-4F 2A2<sup>(f)</sup> |  | 0.0000 | 05/25/36 | 924000 |
| 875000 | GSR Mortgage Loan Trust Series 2006-4F 2A11 |  | 5.5000 | 05/25/36 | 525000 |
| 27195 | GSR Mortgage Loan Trust Series 2006-5F 2A4 |  | 6.0000 | 06/25/36 | 91532 |
| 144754 | GSR Mortgage Loan Trust Series 2006-5F 2A2 |  | 6.0000 | 06/25/36 | 487209 |
| 73465 | GSR Mortgage Loan Trust Series 2006-5F 2A1 |  | 6.0000 | 06/25/36 | 247265 |
| 8768 | GSR Mortgage Loan Trust Series 2006-7F 2A1 |  | 6.0000 | 08/25/36 | 1511273 |
| 15206 | GSR Mortgage Loan Trust Series 2006-10F 2A1 |  | 5.7500 | 12/25/36 | 1213324 |
| 61355 | GSR Mortgage Loan Trust Series 2007-1F 2A4 |  | 5.5000 | 01/25/37 | 158879 |
| 109890 | GSR Mortgage Loan Trust Series 2007-1F 2A2 |  | 5.5000 | 01/25/37 | 701210 |
| 731445 | GSR Mortgage Loan Trust Series 2007-1F 3A1 |  | 6.0000 | 01/25/37 | 423256 |
| 402796 | GSR Mortgage Loan Trust Series 2007-AR1 3A1<sup>(b)</sup> |  | 3.8390 | 03/25/37 | 353414 |
| 1045161 | GSR Mortgage Loan Trust Series 2007-AR1 1A1<sup>(b)</sup> |  | 3.9820 | 03/25/37 | 486632 |
| 167127 | GSR Mortgage Loan Trust Series 2007-AR2 5A1A<sup>(b)</sup> |  | 5.2690 | 05/25/37 | 155880 |
| 49341 | GSR Mortgage Loan Trust Series 2007-3F 2A1 |  | 5.7500 | 05/25/37 | 1211919 |
| 16679 | GSR Mortgage Loan Trust Series 2007-4F 1A1 |  | 5.0000 | 07/25/37 | 51221 |

---

---

| |
|:---|
| **RATIONAL SPECIAL SITUATIONS INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **March 31, 2026** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Principal<br>Amount ($)** |  | **Spread** | **Coupon<br>Rate (%)** | **Maturity** | **Fair Value** |
|  | **ASSET BACKED SECURITIES — 79.7% (Continued)** |  |  |  |  |
|  | **NON-AGENCY RESIDENTIAL MORTGAGE BACKED SECURITIES — 43.6% (Continued)** |  |  |  |  |
| 1355409 | GSR Mortgage Loan Trust Series 2007-4F 2A1 |  | 5.7500 | 07/25/37 | $3172578 |
| 30975 | HarborView Mortgage Loan Trust Series 2003-1 B1<sup>(b)</sup> |  | 4.8100 | 05/19/33 | 22374 |
| 441525 | HarborView Mortgage Loan Trust Series 2003-1 A<sup>(b)</sup> |  | 4.8110 | 05/19/33 | 403366 |
| 182257 | HarborView Mortgage Loan Trust Series 2004-1 B1<sup>(b)</sup> |  | 5.4670 | 04/19/34 | 122348 |
| 664950 | HarborView Mortgage Loan Trust Series 2004-8 3A2<sup>(d)</sup> | TSFR1M + 0.914% | 4.5910 | 11/19/34 | 570861 |
| 60723 | HarborView Mortgage Loan Trust Series 2004-9 4A2<sup>(d)</sup> | TSFR1M + 0.894% | 4.5710 | 12/19/34 | 52811 |
| 3111704 | HarborView Mortgage Loan Trust Series 2005-2 1A<sup>(d)</sup> | TSFR1M + 0.634% | 1.1550 | 05/19/35 | 801475 |
| 1766525 | HarborView Mortgage Loan Trust Series 2005-16 4A1B<sup>(d)</sup> | 12MTA + 2.000% | 5.8590 | 01/19/37 | 1409995 |
| 278300 | Home Equity Asset Trust Series 2002-2 M2<sup>(d)</sup> | US0001M + 1.850% | 5.6430 | 06/25/32 | 261650 |
| 18412 | Home Equity Asset Trust Series 2002-2 B1<sup>(d)</sup> | TSFR1M + 2.714% | 6.3930 | 06/25/32 | 38617 |
| 358059 | Home Equity Asset Trust Series 5 B1<sup>(d)</sup> | TSFR1M + 4.364% | 8.0430 | 05/25/33 | 400961 |
| 160222 | Home Equity Asset Trust Series 2003-1 B2<sup>(d)</sup> | TSFR1M + 4.864% | 8.5430 | 06/25/33 | 1314333 |
| 96264 | Home Equity Asset Trust Series 2003-8 B2<sup>(d)</sup> | TSFR1M + 3.364% | 7.0430 | 04/25/34 | 149284 |
| 3094192 | Home Equity Asset Trust Series 2004-5 M6<sup>(d)</sup> | TSFR1M + 2.064% | 5.7430 | 11/25/34 | 3466964 |
| 3165568 | Home Equity Asset Trust Series 2007-3 M1<sup>(d)</sup> | TSFR1M + 0.639% | 4.3180 | 08/25/37 | 4136595 |
| 374271 | Home Equity Mortgage Loan Asset-Backed Trust Series C AV<sup>(d)</sup> | TSFR1M + 0.364% | 4.2740 | 12/25/31 | 364868 |
| 196929 | Home Equity Mortgage Loan Asset-Backed Trust Series C MV1<sup>(d)</sup> | TSFR1M + 0.784% | 4.2740 | 12/25/31 | 377987 |
| 1908000 | Home Equity Mortgage Loan Asset-Backed Trust Series A MF2<sup>(g)</sup> |  | 6.0980 | 10/25/32 | 410000 |
| 187292 | Home Equity Mortgage Loan Asset-Backed Trust Series 2002-B M1<sup>(d)</sup> | TSFR1M + 1.539% | 5.2180 | 10/25/33 | 189443 |
| 48566 | Home Equity Mortgage Loan Asset-Backed Trust Series 2004-A M2<sup>(d)</sup> | TSFR1M + 2.139% | 3.8810 | 07/25/34 | 47188 |
| 151148 | Home Equity Mortgage Trust Series 2007-1 A1<sup>(d)</sup> | TSFR1M + 0.454% | 4.1330 | 05/25/37 | 145805 |
| 293576 | IMC Home Equity Loan Trust Series 1996-2 A7 |  | 7.9500 | 07/25/26 | 292543 |
| 425324 | IMC Home Equity Loan Trust Series 1998-3 A7<sup>(g)</sup> |  | 5.4320 | 08/20/29 | 419405 |
| 33540 | IMC Home Equity Loan Trust Series 1998-5 A5<sup>(g)</sup> |  | 5.2410 | 12/20/29 | 33484 |
| 38284 | Impac CMB Trust Series 2004-10 3A2<sup>(d)</sup> | TSFR1M + 0.914% | 4.5930 | 03/25/35 | 37753 |
| 165281 | Impac CMB Trust Series 2005-4 2A1<sup>(d)</sup> | TSFR1M + 0.414% | 4.3930 | 05/25/35 | 161678 |
| 320110 | Impac CMB Trust Series 2005-4 2A2<sup>(d)</sup> | TSFR1M + 0.494% | 4.5530 | 05/25/35 | 316520 |
| 509420 | Impac CMB Trust Series 2005-4 2B1<sup>(d)</sup> | TSFR1M + 1.764% | 6.2680 | 05/25/35 | 569238 |
| 404175 | Impac CMB Trust Series 2005-6 1A1<sup>(d)</sup> | TSFR1M + 0.614% | 4.2930 | 10/25/35 | 377486 |
| 857546 | Impac CMB Trust Series 2005-7 A1<sup>(d)</sup> | TSFR1M + 0.634% | 4.3130 | 11/25/35 | 786741 |
| 119067 | Impac Secured Assets CMN Owner Trust Series 2003-3 M1<sup>(b)</sup> |  | 5.2160 | 08/25/33 | 116798 |
| 71974 | Impac Secured Assets CMN Owner Trust Series 2005-1 4A<sup>(b)</sup> |  | 6.2040 | 07/25/35 | 69579 |
| 416565 | Impac Secured Assets Trust Series 2006-3 A1<sup>(d)</sup> | TSFR1M + 0.454% | 4.1330 | 11/25/36 | 385927 |
| 88688 | IndyMac ARM Trust Series 2001-H1 1A<sup>(b)</sup> |  | 5.8220 | 08/25/31 | 46622 |

---

---

| |
|:---|
| **RATIONAL SPECIAL SITUATIONS INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **March 31, 2026** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Principal<br>Amount ($)** |  | **Spread** | **Coupon<br>Rate (%)** | **Maturity** | **Fair Value** |
|  | **ASSET BACKED SECURITIES — 79.7% (Continued)** |  |  |  |  |
|  | **NON-AGENCY RESIDENTIAL MORTGAGE BACKED SECURITIES — 43.6% (Continued)** |  |  |  |  |
| 2413113 | IndyMac INDA Mortgage Loan Trust Series 2005-AR2 3A1<sup>(b)</sup> |  | 4.4410 | 01/25/36 | $2232270 |
| 14328 | IndyMac INDA Mortgage Loan Trust Series 2005-AR2 2A1<sup>(b)</sup> |  | 5.2480 | 01/25/36 | 13526 |
| 58157 | IndyMac INDA Mortgage Loan Trust Series 2007-AR4 3A1<sup>(b)</sup> |  | 4.4380 | 08/25/37 | 55410 |
| 2020482 | IndyMac INDX Mortgage Loan Trust Series 2004-AR3 AX2<sup>(b)</sup> |  | 4.4030 | 07/25/34 | 1852668 |
| 940912 | IndyMac INDX Mortgage Loan Trust Series 2005-AR9 2A1<sup>(b)</sup> |  | 4.4770 | 07/25/35 | 898980 |
| 393064 | IndyMac INDX Mortgage Loan Trust Series 2006-AR25 2A1<sup>(b)</sup> |  | 3.4520 | 09/25/36 | 363264 |
| 260827 | Irwin Home Equity Loan Trust Series 2006-P1 1A<sup>(d),(e)</sup> | TSFR1M + 0.394% | 4.0730 | 12/25/36 | 255430 |
| 125048 | Irwin Home Equity Loan Trust Series 2006-P1 2A3<sup>(e),(g)</sup> |  | 6.3000 | 06/25/37 | 124785 |
| 589831 | Jefferies Resecuritization Trust Series 2009-R6 7A5<sup>(b),(e)</sup> |  | 5.3730 | 08/26/35 | 561597 |
| 263300 | Jefferies Resecuritization Trust Series 2009-R7 6A2<sup>(b),(e)</sup> |  | 4.5030 | 10/21/35 | 268193 |
| 242583 | JP Morgan Alternative Loan Trust Series 2005-S1 2A1 |  | 5.0000 | 12/25/35 | 147677 |
| 445805 | JP Morgan Alternative Loan Trust Series A1 3A1<sup>(b)</sup> |  | 4.1080 | 03/25/37 | 393749 |
| 294782 | JP Morgan Mortgage Trust Series 2004-S2 2A13<sup>(d)</sup> | TSFR1M + 0.514% | 4.1930 | 11/25/34 | 276668 |
| 140027 | JP Morgan Mortgage Trust Series 2004-S2 4A5 |  | 6.0000 | 11/25/34 | 127192 |
| 526085 | JP Morgan Mortgage Trust Series 2005-A4 B1<sup>(b)</sup> |  | 5.5730 | 07/25/35 | 520010 |
| 43834 | JP Morgan Mortgage Trust Series 2007-A2 3A1<sup>(b)</sup> |  | 4.5750 | 04/25/37 | 36220 |
| 60604 | JP Morgan Mortgage Trust Series 2007-S2 3A2 |  | 6.0000 | 06/25/37 | 59156 |
| 43418 | JP Morgan Mortgage Trust Series 2007-S2 3A3 |  | 6.5000 | 06/25/37 | 43084 |
| 1064191 | JP Morgan Resecuritization Trust Series 2010-4 6A4<sup>(b),(e)</sup> |  | 4.4720 | 10/26/36 | 988371 |
| 1262351 | Lehman A.B.S Manufactured Housing Contract Trust Series A C<sup>(c)</sup> |  | 1.7570 | 06/15/33 | 1220822 |
| 127895 | Lehman A.B.S Manufactured Housing Contract Trust Series B M1<sup>(b)</sup> |  | 6.6300 | 04/15/40 | 128646 |
| 726517 | Lehman Mortgage Trust Series 2005-2 5A1<sup>(d)</sup> | TSFR1M + 1.014% | 4.6930 | 12/25/35 | 376565 |
| 529802 | Lehman Mortgage Trust Series 2005-2 AX<sup>(c)</sup> |  | 5.5000 | 12/25/35 | 79564 |
| 116991 | Lehman Mortgage Trust Series 2005-2 5A2<sup>(d)</sup> | -4.600(TSFR1M + 0.114%) + 28.060% | 10.6120 | 12/25/35 | 97646 |
| 1366467 | Lehman Mortgage Trust Series 2007-5 8A1<sup>(d)</sup> | TSFR1M + 0.394% | 1.4770 | 08/25/36 | 181129 |
| 1382994 | Lehman Mortgage Trust Series 2007-5 8A2<sup>(c),(d)</sup> | -(TSFR1M + 0.114%) + 7.720% | 3.9270 | 08/25/36 | 172426 |
| 98064 | Lehman Mortgage Trust Series 2007-3 2A1<sup>(h)</sup> |  | 0.0000 | 03/25/37 | 68967 |
| 230755 | Lehman Mortgage Trust Series 2007-10 2A2 |  | 1.3600 | 01/25/38 | 56516 |
| 2042855 | Lehman Structured Securities Corporation Series 1 A1<sup>(d),(e)</sup> | TSFR1M + 0.454% | 4.1330 | 09/26/45 | 2000429 |
| 2210612 | Lehman XS Trust Series 2005-4 1M1<sup>(d)</sup> | TSFR1M + 0.864% | 4.5430 | 10/25/35 | 2663969 |
| 684957 | Lehman XS Trust Series 2005-5N 1A2<sup>(d)</sup> | TSFR1M + 0.474% | 4.1530 | 11/25/35 | 690751 |
| 1001547 | Lehman XS Trust Series 2007-3 1AA1<sup>(d)</sup> | TSFR1M + 0.434% | 4.1130 | 03/25/37 | 881596 |
| 211300 | Lehman XS Trust Series 2007-6 3A5<sup>(g)</sup> |  | 4.2080 | 05/25/37 | 196476 |

---

---

| |
|:---|
| **RATIONAL SPECIAL SITUATIONS INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **March 31, 2026** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Principal<br>Amount ($)** |  | **Spread** | **Coupon<br>Rate (%)** | **Maturity** | **Fair Value** |
|  | **ASSET BACKED SECURITIES — 79.7% (Continued)** |  |  |  |  |
|  | **NON-AGENCY RESIDENTIAL MORTGAGE BACKED SECURITIES — 43.6% (Continued)** |  |  |  |  |
| 1913359 | Long Beach Mortgage Loan Trust Series 2002-1 M3<sup>(d)</sup> | TSFR1M + 3.864% | 7.5430 | 05/25/32 | $2025516 |
| 427286 | Long Beach Mortgage Loan Trust Series 2003-2 M3<sup>(d)</sup> | TSFR1M + 3.489% | 7.1680 | 06/25/33 | 467922 |
| 364417 | Long Beach Mortgage Loan Trust Series 2003-3 M3<sup>(d)</sup> | TSFR1M + 5.364% | 9.0430 | 07/25/33 | 816632 |
| 552332 | Long Beach Mortgage Loan Trust Series 2004-5 A6<sup>(d)</sup> | TSFR1M + 0.694% | 4.3730 | 09/25/34 | 551694 |
| 60734 | Long Beach Mortgage Loan Trust Series 2004-5 M6<sup>(d)</sup> | TSFR1M + 2.614% | 6.2930 | 09/25/34 | 65707 |
| 4650286 | Long Beach Mortgage Loan Trust Series 2005-WL1 3M3<sup>(d)</sup> | TSFR1M + 1.089% | 4.7680 | 06/25/45 | 4818555 |
| 13857 | Luminent Mortgage Trust Series 2006-7 2A1<sup>(d)</sup> | TSFR1M + 0.454% | 4.1330 | 12/25/36 | 12401 |
| 143156 | Luminent Mortgage Trust Series 2006-7 1A1<sup>(d)</sup> | TSFR1M + 0.474% | 4.1530 | 12/25/36 | 140935 |
| 821124 | Luminent Mortgage Trust Series 2007-2 2A1<sup>(d)</sup> | TSFR1M + 0.574% | 4.2530 | 05/25/37 | 758260 |
| 78254 | MAFI II REMIC Trust Series 1999-A B1<sup>(b),(e)</sup> |  | 8.0000 | 03/20/30 | 76064 |
| 240710 | MASTR Adjustable Rate Mortgages Trust Series 2004-11 B1<sup>(d)</sup> | TSFR1M + 2.364% | 6.0430 | 11/25/34 | 239534 |
| 2399841 | MASTR Adjustable Rate Mortgages Trust Series 2004-14 B2<sup>(d)</sup> | TSFR1M + 3.514% | 7.1930 | 01/25/35 | 2187647 |
| 615778 | MASTR Adjustable Rate Mortgages Trust Series 2005-2 3A1<sup>(b)</sup> |  | 4.2060 | 03/25/35 | 551659 |
| 1795988 | MASTR Adjustable Rate Mortgages Trust Series 2005-6 3A2<sup>(b)</sup> |  | 1.6690 | 07/25/35 | 579995 |
| 1022715 | MASTR Adjustable Rate Mortgages Trust Series 2005-6 3A1<sup>(b)</sup> |  | 1.6690 | 07/25/35 | 339339 |
| 1527666 | MASTR Adjustable Rate Mortgages Trust Series 2005-6 6A1<sup>(b)</sup> |  | 3.5850 | 07/25/35 | 1446725 |
| 2827972 | MASTR Adjustable Rate Mortgages Trust Series 2007-1 2A1<sup>(b)</sup> |  | 2.7350 | 11/25/36 | 1408410 |
| 3157360 | MASTR Adjustable Rate Mortgages Trust Series 2006-OA2 1A1<sup>(d)</sup> | 12MTA + 0.800% | 4.6590 | 12/25/46 | 2449659 |
| 273216 | MASTR Adjustable Rate Mortgages Trust Series 2006-OA2 2A1<sup>(d)</sup> | 12MTA + 0.800% | 4.6590 | 12/25/46 | 246822 |
| 266151 | MASTR Adjustable Rate Mortgages Trust Series 2007-3 22A5<sup>(d)</sup> | TSFR1M + 0.794% | 4.4730 | 05/25/47 | 223473 |
| 9571 | MASTR Alternative Loan Trust Series 2004-10 4A1 |  | 6.0000 | 09/25/34 | 9087 |
| 531346 | MASTR Alternative Loan Trust Series 2004-13 9A2 |  | 1.7420 | 01/25/35 | 256603 |
| 87557 | MASTR Alternative Loan Trust Series 2005-6 3A1 |  | 5.5000 | 12/25/35 | 75623 |
| 580290 | Mastr Asset Backed Securities Trust Series 2005-NC1 M1<sup>(d)</sup> | TSFR1M + 0.834% | 4.5130 | 12/25/34 | 548677 |
| 2184142 | Mastr Asset Backed Securities Trust Series 2005-WF1 M9<sup>(d)</sup> | TSFR1M + 2.649% | 6.3280 | 06/25/35 | 2392804 |
| 1638777 | Mastr Asset Backed Securities Trust Series 2007-NCW A1<sup>(d),(e)</sup> | TSFR1M + 0.414% | 4.0930 | 05/25/37 | 1485758 |
| 139674 | MASTR Asset Backed Securities Trust Series 2003-NC1 M4<sup>(d)</sup> | TSFR1M + 5.364% | 4.5370 | 04/25/33 | 147209 |
| 1114083 | MASTR Asset Backed Securities Trust Series 2004-OPT1 M1<sup>(d)</sup> | TSFR1M + 0.894% | 4.5730 | 02/25/34 | 1191783 |
| 315027 | MASTR Asset Securitization Trust Series 2002-NC1 M3<sup>(d)</sup> | TSFR1M + 3.264% | 6.9430 | 10/25/32 | 304270 |
| 23075 | MASTR Asset Securitization Trust Series 2003-11 6A16 |  | 5.2500 | 12/25/33 | 22890 |
| 71037 | MASTR Asset Securitization Trust Series 2004-9 3A7 |  | 5.2500 | 07/25/34 | 68780 |
| 70782 | MASTR Asset Securitization Trust Series 2004-11 5A5 |  | 5.7500 | 12/25/34 | 60865 |
| 729602 | MASTR Asset Securitization Trust Series 2004-11 5A4 |  | 5.7500 | 12/25/34 | 630721 |
| 1149230 | MASTR Reperforming Loan Trust Series 2005-1 1A4<sup>(e)</sup> |  | 7.5000 | 08/25/34 | 817873 |

---

---

| |
|:---|
| **RATIONAL SPECIAL SITUATIONS INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **March 31, 2026** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Principal<br>Amount ($)** |  | **Spread** | **Coupon<br>Rate (%)** | **Maturity** | **Fair Value** |
|  | **ASSET BACKED SECURITIES — 79.7% (Continued)** |  |  |  |  |
|  | **NON-AGENCY RESIDENTIAL MORTGAGE BACKED SECURITIES — 43.6% (Continued)** |  |  |  |  |
| 36085 | MASTR Seasoned Securitization Trust Series 2003-1 3A2<sup>(d)</sup> | TSFR1M + 0.514% | 4.1930 | 02/25/33 | $35165 |
| 45725 | Mellon Residential Funding Corporation Mortgage Pass Through Trust Series 1999-TBC3 B4<sup>(b),(e)</sup> |  | 4.3870 | 10/20/29 | 44491 |
| 30245 | Mellon Residential Funding Corporation Mortgage Pass Through Trust Series 1999-TBC3 B5<sup>(b),(e)</sup> |  | 4.3900 | 10/20/29 | 22706 |
| 979579 | MERIT Securities Corporation Series 11PA B3<sup>(d),(e)</sup> | SOFRRATE + 2.364% | 7.2100 | 09/28/32 | 928390 |
| 106843 | Merrill Lynch Alternative Note Asset Trust Series 2007-AF1 1AF2 |  | 5.7500 | 05/25/37 | 101990 |
| 1707452 | Merrill Lynch Mortgage Investors Trust Series 2003-WMC2 B1<sup>(d)</sup> | TSFR1M + 4.389% | 8.0680 | 02/25/34 | 1373218 |
| 5653362 | Merrill Lynch Mortgage Investors Trust Series 2005-A3 M2<sup>(d)</sup> | US0001M + 0.975% | 4.7680 | 04/25/35 | 5715806 |
| 265042 | Merrill Lynch Mortgage Investors Trust Series WMC5 M1<sup>(d)</sup> | TSFR1M + 1.044% | 4.7230 | 07/25/35 | 267341 |
| 927752 | Merrill Lynch Mortgage Investors Trust Series 2005-NC1 B3<sup>(d)</sup> | TSFR1M + 3.189% | 6.8680 | 10/25/35 | 879920 |
| 152645 | Merrill Lynch Mortgage Investors Trust Series 2006-AF1 PO<sup>(h)</sup> |  | 0.0000 | 08/25/36 |  |
| 1040997 | Merrill Lynch Mortgage Investors Trust Series 2006-FF1 B3<sup>(d),(e)</sup> | TSFR1M + 1.239% | 4.9180 | 08/25/36 | 1443767 |
| 17782 | Merrill Lynch Mortgage Investors Trust MLCC Series 2003-D B1<sup>(d)</sup> | TSFR1M + 1.059% | 4.7380 | 08/25/28 | 15713 |
| 17958 | Merrill Lynch Mortgage Investors Trust MLCC Series 2003-D B2<sup>(d)</sup> | TSFR1M + 2.364% | 6.0430 | 08/25/28 | 13374 |
| 39549 | Merrill Lynch Mortgage Investors Trust MLCC Series 2003-F B1<sup>(d)</sup> | TSFR1M + 1.014% | 4.6930 | 10/25/28 | 37329 |
| 87772 | Merrill Lynch Mortgage Investors Trust MLCC Series 2007-2 1A<sup>(b)</sup> |  | 6.1630 | 06/25/37 | 87287 |
| 67134 | Merrill Lynch Mortgage Investors Trust MLMI Series 2003-A2 2M1<sup>(b)</sup> |  | 6.0660 | 03/25/33 | 58779 |
| 243682 | Merrill Lynch Mortgage Investors Trust MLMI Series A1 M2<sup>(b)</sup> |  | 5.8810 | 12/25/34 | 228392 |
| 1009244 | Merrill Lynch Mortgage Investors Trust MLMI Series 2005-A7 2A1<sup>(b)</sup> |  | 4.8460 | 09/25/35 | 791772 |
| 514684 | Morgan Stanley A.B.S Capital I, Inc. Trust Series 2003-NC8 B2<sup>(d)</sup> | TSFR1M + 5.739% | 9.4180 | 09/25/33 | 534785 |
| 560292 | Morgan Stanley A.B.S Capital I, Inc. Trust Series 2003-NC10 B3<sup>(d)</sup> | TSFR1M + 5.739% | 9.4180 | 10/25/33 | 1583087 |
| 342459 | Morgan Stanley A.B.S Capital I, Inc. Trust Series 2004-HE1<sup>(d)</sup> | TSFR1M + 0.854% | 4.5330 | 01/25/34 | 346745 |
| 504312 | Morgan Stanley A.B.S Capital I, Inc. Trust Series 2004-NC4 M1<sup>(d)</sup> | TSFR1M + 0.924% | 4.6030 | 04/25/34 | 520595 |
| 710403 | Morgan Stanley A.B.S Capital I, Inc. Trust Series SD2 B1<sup>(d)</sup> | TSFR1M + 4.164% | 7.8430 | 04/25/34 | 809354 |
| 157137 | Morgan Stanley A.B.S Capital I, Inc. Trust Series 2004-SD3 B1<sup>(d),(e)</sup> | TSFR1M + 3.339% | 7.0180 | 06/25/34 | 189355 |
| 496880 | Morgan Stanley A.B.S Capital I, Inc. Trust Series 2004-HE8 M2<sup>(d)</sup> | TSFR1M + 1.134% | 4.8130 | 09/25/34 | 540751 |
| 219322 | Morgan Stanley A.B.S Capital I, Inc. Trust Series 2005-WMC2 M3<sup>(d)</sup> | TSFR1M + 0.819% | 4.4980 | 02/25/35 | 218715 |
| 1635383 | Morgan Stanley A.B.S Capital I, Inc. Trust Series 2007-NC4 A2D<sup>(d)</sup> | TSFR1M + 0.364% | 4.0430 | 05/25/37 | 1398110 |
| 37983 | Morgan Stanley Dean Witter Capital I, Inc. Trust Series AM1 M2<sup>(d)</sup> | TSFR1M + 2.589% | 6.2680 | 01/25/32 | 306868 |
| 22796 | Morgan Stanley Dean Witter Capital I, Inc. Trust Series NC4 M2<sup>(d)</sup> | TSFR1M + 2.589% | 6.2680 | 01/25/32 | 79066 |
| 100 | Morgan Stanley Dean Witter Capital I, Inc. Trust Series HE1 B1<sup>(d)</sup> | US0001M + 1.800% | 6.4900 | 07/25/32 | 341754 |
| 112718 | Morgan Stanley Dean Witter Capital I, Inc. Trust Series NC1 M3<sup>(d)</sup> | TSFR1M + 3.264% | 6.9430 | 11/25/32 | 240695 |
| 1642789 | Morgan Stanley Dean Witter Capital I, Inc. Trust Series 2003-NC2 B1<sup>(d)</sup> | TSFR1M + 5.739% | 9.4180 | 02/25/33 | 1771821 |
| 4148 | Morgan Stanley Dean Witter Capital I, Inc. Trust Series 2002-AM3 B2<sup>(d)</sup> | TSFR1M + 5.739% | 11.0640 | 02/25/33 | 568693 |

---

---

| |
|:---|
| **RATIONAL SPECIAL SITUATIONS INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **March 31, 2026** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Principal<br>Amount ($)** |  | **Spread** | **Coupon<br>Rate (%)** | **Maturity** | **Fair Value** |
|  | **ASSET BACKED SECURITIES — 79.7% (Continued)** |  |  |  |  |
|  | **NON-AGENCY RESIDENTIAL MORTGAGE BACKED SECURITIES — 43.6% (Continued)** |  |  |  |  |
| 71577 | Morgan Stanley Dean Witter Capital I, Inc. Trust Series 2003-HYB1 A1<sup>(b)</sup> |  | 4.9370 | 03/25/33 | $64368 |
| 175318 | Morgan Stanley Mortgage Loan Trust Series 2005-4 1A |  | 5.0000 | 08/25/35 | 167050 |
| 440000 | Morgan Stanley Mortgage Loan Trust Series 2005-5AR 1M6<sup>(d)</sup> | TSFR1M + 1.239% | 4.9180 | 09/25/35 | 440653 |
| 694426 | Morgan Stanley Mortgage Loan Trust Series 2005-10 4A1 |  | 5.5000 | 12/25/35 | 372597 |
| 67345 | Morgan Stanley Mortgage Loan Trust Series 2006-2 1A |  | 5.2500 | 12/25/52 | 61113 |
| 11202 | Morgan Stanley Re-REMIC Trust Series 2010-R7 3B<sup>(e)</sup> |  | 5.5000 | 11/26/34 | 10225 |
| 2517511 | Morgan Stanley Re-REMIC Trust Series 2011-R1 1B<sup>(b),(e)</sup> |  | 5.9420 | 02/26/37 | 3143360 |
| 461372 | Morgan Stanley Resecuritization Trust Series 2015-R7 1BXA<sup>(b),(e)</sup> |  | 7.0600 | 02/26/29 | 415156 |
| 995874 | Morgan Stanley Resecuritization Trust Series 2014-R4 4B2<sup>(b),(e)</sup> |  | 5.2810 | 11/21/35 | 892736 |
| 12632317 | Mortgage Loan Resecuritization Trust Series 2009-RS1 B15<sup>(d),(e)</sup> | SOFRRATE + 0.454% | 4.1220 | 04/16/36 | 10082532 |
| 2090857 | MortgageIT Mortgage Loan Trust Series 2006-1 1A2<sup>(d)</sup> | TSFR1M + 0.514% | 4.1930 | 04/25/36 | 1533128 |
| 185009 | MortgageIT Trust Series 2004-1 B2<sup>(d)</sup> | TSFR1M + 3.339% | 7.0180 | 11/25/34 | 179974 |
| 338798775 | MortgageIT Trust Series 2005-2<sup>(f)</sup> |  | 0.0000 | 05/25/35 | 3099999 |
| 59640 | MortgageIT Trust Series 2005-3<sup>(d)</sup> | TSFR1M + 2.664% | 6.3430 | 08/25/35 | 69811 |
| 187725 | MortgageIT Trust Series 2005-3 B3<sup>(d)</sup> | TSFR1M + 3.864% | 7.5430 | 08/25/35 | 276682 |
| 3407867 | MortgageIT Trust Series 2005-4 M3<sup>(d),(f)</sup> | US0001M + 0.855% | 0.0000 | 10/25/35 | 980000 |
| 713260 | MortgageIT Trust Series 2005-5 M2<sup>(d)</sup> | TSFR1M + 0.969% | 4.6480 | 12/25/35 | 2072696 |
| 176847 | New Century Home Equity Loan Trust Series 2003-3 M3<sup>(d)</sup> | TSFR1M + 3.684% | 7.3630 | 07/25/33 | 397886 |
| 65037 | New Century Home Equity Loan Trust Series 2003-A M1<sup>(d),(e)</sup> | TSFR1M + 1.239% | 3.6620 | 10/25/33 | 91030 |
| 990 | New Century Home Equity Loan Trust Series 2003-5 AI7<sup>(b)</sup> |  | 4.8430 | 11/25/33 | 986 |
| 796520 | New Century Home Equity Loan Trust Series 2003-6 M1<sup>(d)</sup> | TSFR1M + 1.194% | 4.8730 | 01/25/34 | 810507 |
| 906 | New Century Home Equity Loan Trust Series 2004-2 M2<sup>(d)</sup> | TSFR1M + 1.044% | 4.7230 | 08/25/34 | 2257 |
| 223055 | New Century Home Equity Loan Trust Series 2005-B M1<sup>(d)</sup> | TSFR1M + 0.834% | 4.5130 | 10/25/35 | 222304 |
| 9713445 | New Residential Mortgage Loan Trust Series 2019-5A B4IA<sup>(b),(c),(e)</sup> |  | 0.5000 | 08/25/59 | 147264 |
| 13651749 | New Residential Mortgage Loan Trust Series 2019-5A B5IB<sup>(b),(c),(e)</sup> |  | 0.7500 | 08/25/59 | 306928 |
| 5712 | Nomura Asset Acceptance Corporation Alternative Loan Series 2004-AP1 A5<sup>(g)</sup> |  | 5.8030 | 03/25/34 | 5672 |
| 1929675 | Nomura Asset Acceptance Corporation Alternative Loan Series 2004-AR2 M2<sup>(d)</sup> | TSFR1M + 1.814% | 5.4930 | 10/25/34 | 2060786 |
| 1502055 | Nomura Asset Acceptance Corporation Alternative Loan Series 2006-AF1 2A<sup>(b)</sup> |  | 4.8870 | 06/25/36 | 1057980 |
| 564685 | Nomura Asset Acceptance Corporation Alternative Loan Series AF2 2A<sup>(b)</sup> |  | 4.0510 | 08/25/36 | 555573 |
| 522290 | Nomura Asset Acceptance Corporation Alternative Loan Series AF2 4A<sup>(b)</sup> |  | 5.5620 | 08/25/36 | 506012 |

---

---

| |
|:---|
| **RATIONAL SPECIAL SITUATIONS INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **March 31, 2026** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Principal<br>Amount ($)** |  | **Spread** | **Coupon<br>Rate (%)** | **Maturity** | **Fair Value** |
|  | **ASSET BACKED SECURITIES — 79.7% (Continued)** |  |  |  |  |
|  | **NON-AGENCY RESIDENTIAL MORTGAGE BACKED SECURITIES — 43.6% (Continued)** |  |  |  |  |
| 7055317 | Nomura Asset Acceptance Corporation Alternative Loan Series 2007-3 A1<sup>(d)</sup> | US0001M + 0.260% | 4.0530 | 07/25/37 | $6501322 |
| 3540716 | Nomura Asset Acceptance Corporation Alternative Loan Series 3 A2<sup>(d)</sup> | TSFR1M + 0.514% | 4.1930 | 07/25/37 | 3257884 |
| 2846326 | Nomura Asset Acceptance Corporation Alternative Loan Series 3 A4<sup>(d)</sup> | TSFR1M + 0.574% | 4.2530 | 07/25/37 | 2627658 |
| 4569042 | Nomura Asset Acceptance Corporation Alternative Loan Series 3 A3<sup>(d)</sup> | TSFR1M + 0.754% | 4.4330 | 07/25/37 | 4217190 |
| 182230 | Nomura Asset Acceptance Corporation Alternative Loan Series 1 1A6<sup>(g)</sup> |  | 6.3200 | 03/25/47 | 170800 |
| 1214567 | Nomura Asset Acceptance Corporation Alternative Loan Series 2007-1 1A3<sup>(g)</sup> |  | 6.4570 | 03/25/47 | 1138248 |
| 464636 | NovaStar Mortgage Funding Trust Series 2003-2 M2<sup>(d)</sup> | TSFR1M + 2.889% | 6.5680 | 09/25/33 | 470276 |
| 479535 | NovaStar Mortgage Funding Trust Series 2006-MTA1 2A1A<sup>(d)</sup> | TSFR1M + 0.494% | 0.4270 | 09/25/46 | 448101 |
| 605 | Oakwood Mortgage Investors, Inc. Series 1996-B B1<sup>(b),(e)</sup> |  | 8.4500 | 10/15/26 | 603 |
| 35800 | Oakwood Mortgage Investors, Inc. Series C B1<sup>(e)</sup> |  | 7.9600 | 04/15/27 | 35611 |
| 102277 | Oakwood Mortgage Investors, Inc. Series 1997-A B1 |  | 7.4500 | 05/15/27 | 98403 |
| 1279 | Oakwood Mortgage Investors, Inc. Series 1997-B B1 |  | 7.7500 | 08/15/27 | 1244 |
| 308712 | Oakwood Mortgage Investors, Inc. Series C B1<sup>(b)</sup> |  | 7.4500 | 11/15/27 | 309364 |
| 446774 | Oakwood Mortgage Investors, Inc. Series 1997-D B1<sup>(b)</sup> |  | 7.3250 | 02/15/28 | 449460 |
| 531583 | Oakwood Mortgage Investors, Inc. Series B M2<sup>(b)</sup> |  | 7.0250 | 05/15/28 | 542775 |
| 387701 | Oakwood Mortgage Investors, Inc. Series 1998-D M1<sup>(e)</sup> |  | 7.4150 | 01/15/29 | 389245 |
| 1052213 | Oakwood Mortgage Investors, Inc. Series 2000-C M1 |  | 8.4900 | 10/15/30 | 1022607 |
| 1620054 | Oakwood Mortgage Investors, Inc. Series 2001-D A2<sup>(b)</sup> |  | 2.8920 | 08/15/31 | 477022 |
| 607683 | Oakwood Mortgage Investors, Inc. Series E A4 |  | 6.8100 | 12/15/31 | 608771 |
| 2998130 | Oakwood Mortgage Investors, Inc. Series 2002-A M1<sup>(b)</sup> |  | 7.7600 | 03/15/32 | 3038331 |
| 785841 | Opteum Mortgage Acceptance Corporation Asset Backed Series 1 M9<sup>(d)</sup> | TSFR1M + 2.889% | 6.5680 | 02/25/35 | 946301 |
| 178972 | Option One Mortgage Loan Trust Series 2004-1 M4<sup>(d)</sup> | TSFR1M + 2.589% | 6.2680 | 01/25/34 | 152482 |
| 139759 | Option One Mortgage Loan Trust Series 2004-2 M5<sup>(d)</sup> | TSFR1M + 3.114% | 6.7930 | 05/25/34 | 137688 |
| 788718 | Option One Mortgage Loan Trust Series 2007-FXD1 1A1<sup>(g)</sup> |  | 5.8660 | 01/25/37 | 675984 |
| 144123 | Option One Mortgage Loan Trust Series 2007-FXD2 2A6<sup>(g)</sup> |  | 5.6800 | 03/25/37 | 124556 |
| 350992 | Option One Mortgage Loan Trust Series 2007-FXD2 2A5<sup>(g)</sup> |  | 6.1020 | 03/25/37 | 303345 |
| 567391 | Option One Woodbridge Loan Trust Series 2004-1 M<sup>(d),(e)</sup> | TSFR1M + 1.614% | 5.2930 | 02/25/34 | 560228 |
| 335120 | Origen Manufactured Housing Contract Trust Series 2007-A A2<sup>(b)</sup> |  | 5.0720 | 04/15/37 | 308135 |
| 2001918 | Origen Manufactured Housing Contract Trust Series 2006-A A2<sup>(b)</sup> |  | 3.9080 | 10/15/37 | 1786711 |
| 4537217 | Ownit Mortgage Loan Trust Series 2005-4 M1<sup>(d)</sup> | TSFR1M + 0.939% | 4.6180 | 08/25/36 | 4157646 |
| 1579714 | Park Place Securities, Inc. Asset-Backed Series WHQ1 M5<sup>(d)</sup> | TSFR1M + 1.239% | 4.9180 | 03/25/35 | 1567058 |
| 828569 | Park Place Securities, Inc. Asset-Backed Pass-Through Certificates Series WCW3 M2<sup>(d)</sup> | TSFR1M + 0.849% | 4.5280 | 08/25/35 | 838808 |

---

---

| |
|:---|
| **RATIONAL SPECIAL SITUATIONS INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **March 31, 2026** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Principal<br>Amount ($)** |  | **Spread** | **Coupon<br>Rate (%)** | **Maturity** | **Fair Value** |
|  | **ASSET BACKED SECURITIES — 79.7% (Continued)** |  |  |  |  |
|  | **NON-AGENCY RESIDENTIAL MORTGAGE BACKED SECURITIES — 43.6% (Continued)** |  |  |  |  |
| 234030 | PHHMC Series Trust Series 2005-4 A8<sup>(b)</sup> |  | 5.8350 | 07/18/35 | $228929 |
| 184914 | PHHMC Series Trust Series 2006-4 B1<sup>(b)</sup> |  | 6.3050 | 12/18/36 | 184566 |
| 39592 | Popular A.B.S, Inc. Series 1 A2<sup>(g)</sup> |  | 7.4800 | 11/25/29 | 37605 |
| 57413 | Popular A.B.S, Inc. Series 1998-1 A1<sup>(g)</sup> |  | 7.2000 | 12/25/29 | 54259 |
| 55542 | Prime Mortgage Trust Series 2004-1 1A6 |  | 5.2500 | 08/25/34 | 54906 |
| 1402110 | Prime Mortgage Trust Series 2006-DR1 2A1<sup>(e)</sup> |  | 5.5000 | 05/25/35 | 1299731 |
| 348661 | Prime Mortgage Trust Series 2006-DR1 2A2<sup>(e)</sup> |  | 6.0000 | 05/25/35 | 295403 |
| 415644 | Provident Bank Home Equity Loan Trust Series 1984-4 A6 |  | 6.6900 | 01/25/30 | 404705 |
| 329000 | Provident Bank Home Equity Loan Trust Series 1998-4 A9<sup>(d)</sup> | TSFR1M + 3.614% | 7.2930 | 01/25/30 | 314585 |
| 1895555 | Provident Bank Home Equity Loan Trust Series 1999-3 A1<sup>(d)</sup> | TSFR1M + 0.824% | 4.1480 | 01/25/31 | 1680351 |
| 975407 | Provident Bank Home Equity Loan Trust Series 1999-3 A3<sup>(d)</sup> | TSFR1M + 0.894% | 4.1830 | 01/25/31 | 910713 |
| 452456 | Provident Bank Home Equity Loan Trust Series 1999-3 A2<sup>(d)</sup> | TSFR1M + 0.954% | 4.2130 | 01/25/31 | 405538 |
| 544669 | Provident Bank Home Equity Loan Trust Series 2004-2 A1<sup>(d)</sup> | TSFR1M + 0.654% | 4.3330 | 08/25/31 | 479592 |
| 1073927 | Provident Home Equity Loan Trust Series 2000-1 A2<sup>(d)</sup> | TSFR1M + 0.634% | 4.3130 | 03/25/30 | 940219 |
| 1139962 | Provident Home Equity Loan Trust Series 2000-2 A2<sup>(d)</sup> | TSFR1M + 0.654% | 4.3330 | 08/25/31 | 995815 |
| 290265 | Quest Trust Series 2003-X3 M3<sup>(d),(e)</sup> | TSFR1M + 4.989% | 8.6680 | 02/25/34 | 422897 |
| 7229467 | RAAC Series Trust Series 2005-SP3 SB<sup>(f)</sup> |  | 0.0000 | 12/25/35 | 5969819 |
| 1585846 | RAAC Series Trust Series 2006-SP4 M4<sup>(d)</sup> | TSFR1M + 2.514% | 6.1930 | 11/25/36 | 1585743 |
| 1754998 | RAAC Series Trust Series 2006-SP1 M2<sup>(d)</sup> | TSFR1M + 0.939% | 4.6180 | 09/25/45 | 1356798 |
| 2990686 | RAAC Series Trust Series 2006-RP1 M3<sup>(d),(e)</sup> | TSFR1M + 2.889% | 5.6430 | 10/25/45 | 2983453 |
| 2759324 | RAAC Series Trust Series 2006-RP1 M4<sup>(d),(e)</sup> | TSFR1M + 2.927% | 5.6680 | 10/25/45 | 2804313 |
| 4000000 | RAAC Series Trust Series 2006-RP4 M2<sup>(d)</sup> | TSFR1M + 1.614% | 5.2930 | 01/25/46 | 4024342 |
| 182733 | RALI Series Trust Series 2004-QA4 NB21<sup>(b)</sup> |  | 5.3570 | 09/25/34 | 177629 |
| 295980 | RALI Series Trust Series 2004-QA4 NB1<sup>(b)</sup> |  | 5.5640 | 09/25/34 | 264579 |
| 306620 | RALI Series Trust Series 2004-QA6 NB2<sup>(b)</sup> |  | 4.3230 | 12/26/34 | 295825 |
| 706360 | RALI Series Trust Series 2004-QA6 NB4<sup>(b)</sup> |  | 4.5540 | 12/26/34 | 632181 |
| 1754350 | RALI Series Trust Series 2005-QA2 A1I<sup>(b)</sup> |  | 1.3880 | 02/25/35 | 564538 |
| 160120 | RALI Series Trust Series 2005-QA2 NB2<sup>(b)</sup> |  | 4.6780 | 02/25/35 | 143302 |
| 1487396 | RALI Series Trust Series 2005-QA2 A1II<sup>(b)</sup> |  | 4.6860 | 02/25/35 | 804281 |
| 159775 | RALI Series Trust Series 2005-QA3 NB4<sup>(b),(f)</sup> |  | 0.0000 | 03/25/35 | 21740 |
| 55226 | RALI Series Trust Series 2005-QA3 NB1<sup>(b)</sup> |  | 3.6740 | 03/25/35 | 30685 |
| 669522 | RALI Series Trust Series 2005-QA6 NB23<sup>(b)</sup> |  | 2.1420 | 05/25/35 | 308623 |
| 15146 | RALI Series Trust Series 2005-QA8 NB2<sup>(b)</sup> |  | 5.0100 | 07/25/35 | 14532 |
| 2604597 | RALI Series Trust Series 2005-QA9 NB21<sup>(b)</sup> |  | 1.6110 | 08/25/35 | 887308 |

---

---

| |
|:---|
| **RATIONAL SPECIAL SITUATIONS INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **March 31, 2026** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Principal<br>Amount ($)** |  | **Spread** | **Coupon<br>Rate (%)** | **Maturity** | **Fair Value** |
|  | **ASSET BACKED SECURITIES — 79.7% (Continued)** |  |  |  |  |
|  | **NON-AGENCY RESIDENTIAL MORTGAGE BACKED SECURITIES — 43.6% (Continued)** |  |  |  |  |
| 986832 | RALI Series Trust Series 2005-QA9 CB3<sup>(b)</sup> |  | 4.6110 | 08/25/35 | $899942 |
| 4957942 | RALI Series Trust Series 2005-QA11 3A1<sup>(b)</sup> |  | 1.6420 | 10/25/35 | 1659828 |
| 860791 | RALI Series Trust Series 2005-QA12 CB3<sup>(b)</sup> |  | 5.0850 | 12/25/35 | 792602 |
| 113738 | RALI Series Trust Series 2005-QA12 NB2<sup>(b)</sup> |  | 6.3890 | 12/25/35 | 111480 |
| 90033 | RALI Series Trust Series 2006-QA2 3A1<sup>(b)</sup> |  | 6.1550 | 02/25/36 | 75400 |
| 7124498 | RALI Series Trust Series 2006-QS11 2A1 |  | 1.8340 | 08/25/36 | 2377667 |
| 246915 | RALI Series Trust Series 2007-QS4 1A4 |  | 6.2500 | 03/25/37 | 195167 |
| 2279746 | RALI Series Trust Series 2007-QO1 A1<sup>(d)</sup> | TSFR1M + 0.414% | 4.0930 | 02/25/47 | 2121994 |
| 3539086 | RALI Series Trust Series QO4 A1A<sup>(d)</sup> | TSFR1M + 0.494% | 4.1730 | 05/25/47 | 3335361 |
| 477762 | RAMP Series Trust Series 2003-SL1 A41 |  | 2.3900 | 04/25/31 | 164458 |
| 354681 | RAMP Series Trust Series 2005-SL2 A5<sup>(f)</sup> |  | 0.0000 | 10/25/31 | 124913 |
| 179562 | RAMP Series Trust Series 2004-SL1 A8 |  | 6.5000 | 11/25/31 | 158894 |
| 315627 | RAMP Series Trust Series 2004-SL3 A4 |  | 3.8340 | 12/25/31 | 138612 |
| 354122 | RAMP Series Trust Series 2005-SL1 A3 |  | 0.9240 | 05/25/32 | 45813 |
| 541838 | RAMP Series Trust Series 2005-SL1 A7 |  | 8.0000 | 05/25/32 | 342861 |
| 230059 | RAMP Series Trust Series 2004-SL4 A5 |  | 1.6300 | 07/25/32 | 60332 |
| 650166 | RAMP Series Trust Series 2003-RS7 MII2<sup>(d)</sup> | TSFR1M + 1.914% | 4.9880 | 08/25/33 | 631514 |
| 357703 | RAMP Series Trust Series 2003-RS10 MII2<sup>(d)</sup> | TSFR1M + 1.814% | 5.2670 | 11/25/33 | 353751 |
| 1605567 | RAMP Series Trust Series 2004-RS7 A3<sup>(b)</sup> |  | 5.4510 | 07/25/34 | 1430293 |
| 155093 | RAMP Series Trust Series 2006-RS6 A4<sup>(d)</sup> | TSFR1M + 0.654% | 4.3330 | 11/25/36 | 127752 |
| 2524319 | RASC Series Trust Series 2004-KS11 M2<sup>(d)</sup> | SOFRRATE + 1.614% | 5.2880 | 12/25/34 | 2760219 |
| 1939068 | RBSGC Mortgage Loan Trust Series 2005-A 4A |  | 6.0000 | 04/25/35 | 1685692 |
| 420856 | RBSGC Mortgage Loan Trust Series 2007-A 1A1 |  | 6.0000 | 01/25/37 | 370861 |
| 1275235 | RBSSP Resecuritization Trust Series 2009-6 8A3<sup>(b),(e)</sup> |  | 4.0440 | 08/26/35 | 325787 |
| 288139 | RBSSP Resecuritization Trust Series 2010-1 3A2<sup>(b),(e)</sup> |  | 5.6980 | 08/26/35 | 287732 |
| 67659 | Renaissance Home Equity Loan Trust Series 2002-4 B<sup>(g)</sup> |  | 3.8800 | 03/25/33 | 47752 |
| 51607 | Renaissance Home Equity Loan Trust Series 2004-3 AF6<sup>(g)</sup> |  | 5.3240 | 11/25/34 | 48938 |
| 11868 | Renaissance Home Equity Loan Trust Series 2005-4 A4<sup>(g)</sup> |  | 5.8250 | 02/25/36 | 11785 |
| 40583 | Reperforming Loan REMIC Trust Series 2004-R1 2A<sup>(e)</sup> |  | 6.5000 | 11/25/34 | 39873 |
| 132529 | Reperforming Loan REMIC Trust Series 2004-R1 3A<sup>(e)</sup> |  | 7.5000 | 11/25/34 | 135586 |
| 223348 | Reperforming Loan REMIC Trust Series 2006-R2 AF1<sup>(d),(e)</sup> | TSFR1M + 0.534% | 4.2130 | 07/25/36 | 211534 |
| 539090 | Resecuritization Pass-Through Trust Series 2005-8R A5 |  | 6.0000 | 10/25/34 | 536975 |
| 137356 | Residential Asset Securitization Trust Series 2000-A6 B2 |  | 8.0000 | 10/25/30 | 77621 |
| 122676 | Residential Asset Securitization Trust Series 2004-A2 2A1<sup>(d)</sup> | TSFR1M + 0.664% | 4.3430 | 05/25/34 | 119311 |

---

---

| |
|:---|
| **RATIONAL SPECIAL SITUATIONS INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **March 31, 2026** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Principal<br>Amount ($)** |  | **Spread** | **Coupon<br>Rate (%)** | **Maturity** | **Fair Value** |
|  | **ASSET BACKED SECURITIES — 79.7% (Continued)** |  |  |  |  |
|  | **NON-AGENCY RESIDENTIAL MORTGAGE BACKED SECURITIES — 43.6% (Continued)** |  |  |  |  |
| 1296053 | Residential Asset Securitization Trust Series 2004-A7 A6 |  | 5.5000 | 10/25/34 | $1279427 |
| 226790 | Residential Asset Securitization Trust Series 2006-A3CB PO<sup>(h)</sup> |  | 0.0000 | 01/25/46 | 2 |
| 164309 | Residential Asset Securitization Trust Series 2006-A3CB AX<sup>(b),(c)</sup> |  | 6.0000 | 01/25/46 | 29775 |
| 490600 | RFMSI Series Trust Series 2005-SA1 2A<sup>(b)</sup> |  | 4.0900 | 03/25/35 | 450506 |
| 149890 | RFMSI Series Trust Series 2005-SA3 3A<sup>(b)</sup> |  | 5.3730 | 08/25/35 | 131441 |
| 556582 | RFMSI Series Trust Series 2005-SA5 2A<sup>(b)</sup> |  | 5.0470 | 11/25/35 | 496635 |
| 97393 | RFMSI Series Trust Series 2006-SA1 2A1<sup>(b)</sup> |  | 5.9410 | 02/25/36 | 90359 |
| 53114 | RFMSI Series Trust Series 2006-SA3 3A1<sup>(b)</sup> |  | 5.5120 | 09/25/36 | 46908 |
| 956455 | RFMSI Series Trust Series 2007-S9 1A1 |  | 2.2540 | 10/25/37 | 425179 |
| 815351 | RFSC Series Trust Series 2002-RP2 A1<sup>(d),(e)</sup> | TSFR1M + 1.614% | 5.2930 | 10/25/32 | 795140 |
| 265117 | RFSC Trust Series 2002-RP1 A1<sup>(d),(e)</sup> | TSFR1M + 0.974% | 4.6530 | 03/25/33 | 262347 |
| 28799 | SACO I Trust Series 2005-WM2 M1<sup>(d)</sup> | TSFR1M + 0.939% | 4.6180 | 07/25/35 | 33395 |
| 14147 | SACO I Trust Series 2007-2 A1<sup>(d)</sup> | TSFR1M + 0.434% | 4.1130 | 02/25/37 | 14587 |
| 479379 | Sail Net Interest Margin Notes Series BC1A B<sup>(e),(h)</sup> |  | 0.0000 | 01/27/33 | 420704 |
| 576011 | Sail Net Interest Margin Notes Series 2003-6A A<sup>(e)</sup> |  | 7.0000 | 07/27/33 | 1864773 |
| 1881001 | SASCO ARC NIM Series 2003-5<sup>(e)</sup> |  | 6.0000 | 06/27/33 | 1874396 |
| 180319 | SASCO Mortgage Loan Trust Series 2004-GEL3 M2<sup>(d)</sup> | TSFR1M + 2.514% | 4.9310 | 08/25/34 | 181715 |
| 983041 | Sasco Net Interest Margin Trust Series BC2 C<sup>(d),(e)</sup> | TSFR1M + 3.114% | 6.7910 | 02/27/33 | 1015434 |
| 760508 | Saxon Asset Sec Trust Mortgage Loan Asset Backed Certificates Series 1999-5 BF<sup>(b)</sup> |  | 9.3000 | 08/25/28 | 725396 |
| 258802 | Securitized Asset Backed Receivables, LLC Trust Series DO1 M2<sup>(d)</sup> | TSFR1M + 2.064% | 5.7430 | 07/25/34 | 326252 |
| 284320 | Securitized Asset Backed Receivables, LLC Trust Series OP2 A2<sup>(d)</sup> | TSFR1M + 0.814% | 4.4930 | 08/25/34 | 277823 |
| 17922 | Sequoia Mortgage Trust Series 2003-4 2B2<sup>(b)</sup> |  | 5.1300 | 07/20/33 | 16913 |
| 7682 | Sequoia Mortgage Trust Series 2003-4 2B5<sup>(b)</sup> |  | 5.1350 | 07/20/33 | 3868 |
| 27172 | Sequoia Mortgage Trust Series 2003-4 2B3<sup>(b)</sup> |  | 5.8355 | 07/20/33 | 27025 |
| 77628 | Sequoia Mortgage Trust Series 2004-1 B1<sup>(d)</sup> | TSFR1M + 0.939% | 4.6150 | 02/20/34 | 61731 |
| 222370620 | SHARPS OTC Series 2002-AQ1N<sup>(f)</sup> |  | 0.0000 | 04/25/31 | 2199999 |
| 24040 | Soundview Home Loan Trust Series 2004-1 M2<sup>(d)</sup> | TSFR1M + 1.134% | 4.8130 | 07/25/34 | 22602 |
| 142932 | Soundview Home Loan Trust Series 2004-1 M7<sup>(d)</sup> | TSFR1M + 3.039% | 6.7180 | 07/25/34 | 123761 |
| 930065 | Soundview Home Loan Trust Series 2004-1 M9<sup>(d)</sup> | TSFR1M + 4.989% | 8.6680 | 07/25/34 | 771595 |
| 26550811 | Soundview Home Loan Trust Series 2007-OPT4 X1<sup>(b),(c)</sup> |  | 0.3220 | 09/25/37 | 623396 |
| 1237189 | Structured Adjustable Rate Mortgage Loan Trust Series 2005-14 A1<sup>(d)</sup> | TSFR1M + 0.424% | 4.1030 | 07/25/35 | 709531 |
| 115678 | Structured Adjustable Rate Mortgage Loan Trust Series 2007-3 2A1<sup>(b)</sup> |  | 3.8390 | 04/25/47 | 109942 |
| 260149 | Structured Asset Investment Loan Trust Series 2003-BC2 M1<sup>(d)</sup> | TSFR1M + 1.494% | 5.1730 | 04/25/33 | 268901 |
| 260717 | Structured Asset Investment Loan Trust Series 2003-BC10 M2<sup>(d)</sup> | TSFR1M + 2.889% | 6.5680 | 10/25/33 | 312465 |

---

---

| |
|:---|
| **RATIONAL SPECIAL SITUATIONS INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **March 31, 2026** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Principal<br>Amount ($)** |  | **Spread** | **Coupon<br>Rate (%)** | **Maturity** | **Fair Value** |
|  | **ASSET BACKED SECURITIES — 79.7% (Continued)** |  |  |  |  |
|  | **NON-AGENCY RESIDENTIAL MORTGAGE BACKED SECURITIES — 43.6% (Continued)** |  |  |  |  |
| 2398064 | Structured Asset Investment Loan Trust Series 2003-BC10 M3<sup>(d)</sup> | TSFR1M + 3.414% | 7.0930 | 10/25/33 | $2704760 |
| 312722 | Structured Asset Investment Loan Trust Series 2003-BC10 M4<sup>(d)</sup> | TSFR1M + 4.614% | 8.2930 | 10/25/33 | 591134 |
| 3538247 | Structured Asset Investment Loan Trust Series BC12 2A<sup>(d)</sup> | TSFR1M + 0.834% | 4.5130 | 11/25/33 | 3536787 |
| 215154 | Structured Asset Investment Loan Trust Series 2004-8 A1<sup>(d)</sup> | TSFR1M + 0.664% | 4.3430 | 09/25/34 | 206171 |
| 719323 | Structured Asset Investment Loan Trust Series 2004-8 A6<sup>(d)</sup> | TSFR1M + 0.914% | 4.5930 | 09/25/34 | 705085 |
| 289677 | Structured Asset Investment Loan Trust Series 2004-8 A9<sup>(d)</sup> | TSFR1M + 1.114% | 4.7930 | 09/25/34 | 300062 |
| 141760 | Structured Asset Mortgage Investments II Trust Series 2004-AR5 2A3<sup>(b)</sup> |  | 4.7990 | 10/19/34 | 133333 |
| 141630 | Structured Asset Mortgage Investments II Trust Series 2004-AR6 A1B<sup>(d)</sup> | TSFR1M + 0.514% | 4.1910 | 02/19/35 | 144593 |
| 1059259 | Structured Asset Mortgage Investments II Trust Series 2006-AR3 21A1<sup>(d)</sup> | TSFR1M + 0.514% | 4.1930 | 02/25/36 | 883610 |
| 4212945 | Structured Asset Mortgage Investments II Trust Series 2006-AR3 24A1<sup>(b)</sup> |  | 1.0360 | 05/25/36 | 760579 |
| 103231 | Structured Asset Mortgage Investments II Trust Series 2006-AR3 22A1<sup>(b)</sup> |  | 2.5500 | 05/25/36 | 43076 |
| 45703 | Structured Asset Mortgage Investments II Trust Series 2007-AR2 1A1<sup>(d)</sup> | TSFR1M + 0.414% | 4.0930 | 02/25/37 | 44652 |
| 580542 | Structured Asset Mortgage Investments II Trust Series 2007-AR2 2A1<sup>(d)</sup> | TSFR1M + 0.374% | 1.6560 | 03/25/37 | 225703 |
| 399192 | Structured Asset Mortgage Investments II Trust Series AR6 1A2<sup>(d)</sup> | TSFR1M + 0.834% | 4.5130 | 09/25/45 | 365893 |
| 1257347 | Structured Asset Mortgage Investments II Trust Series 2006-AR5 3A1<sup>(d)</sup> | TSFR1M + 0.534% | 2.3750 | 05/25/46 | 566568 |
| 941657 | Structured Asset Mortgage Investments II Trust Series 2006-AR5 2A1<sup>(d)</sup> | TSFR1M + 0.534% | 4.2130 | 05/25/46 | 666889 |
| 177674 | Structured Asset Mortgage Investments Trust Series 2002-AR5 A2<sup>(d)</sup> | TSFR1M + 1.314% | 4.9910 | 05/19/33 | 165781 |
| 4705022 | Structured Asset Securities Corporation Series 2005-WF1 X<sup>(f)</sup> |  | 0.0000 | 02/25/35 | 3649215 |
| 49477 | Structured Asset Securities Corporation Assistance Loan Series AL2 B1<sup>(e)</sup> |  | 3.3560 | 01/25/31 | 43031 |
| 106375 | Structured Asset Securities Corporation Mortgage Series 2003-39EX M3<sup>(g)</sup> |  | 4.0590 | 08/25/33 | 127884 |
| 863000 | Structured Asset Securities Corporation Mortgage<sup>(g)</sup> |  | 3.5300 | 05/25/34 | 993503 |
| 305236 | Structured Asset Securities Corporation Mortgage Series 2004-11XS 1A5A<sup>(g)</sup> |  | 4.7400 | 06/25/34 | 303259 |
| 779818 | Structured Asset Securities Corporation Mortgage Certificates Series 2003-31A B1<sup>(b)</sup> |  | 5.7060 | 10/25/33 | 719542 |
| 157113 | Structured Asset Securities Corporation Mortgage Loan Series WF2 B2<sup>(d),(e)</sup> | TSFR1M + 3.864% | 7.5430 | 05/25/35 | 164571 |
| 110268 | Structured Asset Securities Corporation Mortgage Loan Series RF3 2A<sup>(b),(e)</sup> |  | 5.6440 | 10/25/36 | 104203 |
| 11942 | Structured Asset Securities Corporation Mortgage Pass Series 2001-SB1 A2 |  | 3.3750 | 08/25/31 | 11901 |

---

---

| |
|:---|
| **RATIONAL SPECIAL SITUATIONS INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **March 31, 2026** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Principal<br>Amount ($)** |  | **Spread** | **Coupon<br>Rate (%)** | **Maturity** | **Fair Value** |
|  | **ASSET BACKED SECURITIES — 79.7% (Continued)** |  |  |  |  |
|  | **NON-AGENCY RESIDENTIAL MORTGAGE BACKED SECURITIES — 43.6% (Continued)** |  |  |  |  |
| 441438 | Structured Asset Securities Corporation Mortgage Pass Through Certificates Series 1998-6 B2<sup>(f)</sup> |  | 0.0000 | 07/25/28 | $379235 |
| 1005352 | Structured Asset Securities Corporation Mortgage Pass Through Certificates Series 2003-40A B1<sup>(d)</sup> |  | 5.4230 | 01/25/34 | 794195 |
| 2674618 | TBW Mortgage-Backed Pass-Through Certificates Series 1 1A1<sup>(f)</sup> |  | 0.0000 | 04/25/36 | 689715 |
| 508696 | TBW Mortgage-Backed Pass-Through Certificates Series 2006-1 2A1 |  | 6.5000 | 04/25/36 | 327290 |
| 483804 | TBW Mortgage-Backed Trust Series 2006-2 1A3 |  | 1.2460 | 07/25/36 | 142193 |
| 234777 | Terwin Mortgage Trust Series 2004-1HE M1<sup>(d),(e)</sup> | TSFR1M + 1.239% | 4.9180 | 02/25/34 | 222811 |
| 283826 | Terwin Mortgage Trust Series 2004-1HE M2<sup>(d),(e)</sup> | TSFR1M + 2.589% | 6.2680 | 02/25/34 | 224546 |
| 365051 | Terwin Mortgage Trust Series TMTS 2003-2HE<sup>(d)</sup> | TSFR1M + 1.014% | 4.6930 | 07/25/34 | 415968 |
| 2346558 | Terwin Mortgage Trust Series 2004-21HE 2M3<sup>(d),(e)</sup> | TSFR1M + 2.739% | 6.4180 | 12/25/34 | 2349509 |
| 372885 | Terwin Mortgage Trust Series TMTS 2004-3HE B2<sup>(d),(e)</sup> | TSFR1M + 2.964% | 6.6430 | 03/25/35 | 439987 |
| 3050000 | Terwin Mortgage Trust Series 2006-8 1A2<sup>(b),(e)</sup> |  | 0.1020 | 08/25/37 | 1414971 |
| 107030 | Terwin Mortgage Trust Series 2006-17HE A2B1<sup>(d),(e)</sup> | TSFR1M + 0.514% | 4.1930 | 01/25/38 | 163953 |
| 2862430 | Truman Capital Mortgage Loan Trust Series 2002-2 M2<sup>(d),(e)</sup> | TSFR1M + 4.764% | 8.4430 | 11/25/32 | 2524504 |
| 369226 | Truman Capital Mortgage Loan Trust Series 2006-1 M1<sup>(d),(e)</sup> | TSFR1M + 0.834% | 4.5130 | 03/25/36 | 347742 |
| 174658 | Truman Capital Mortgage Loan Trust Series 1 M1<sup>(d),(e)</sup> | TSFR1M + 1.464% | 5.1430 | 03/25/37 | 205637 |
| 575750 | UCFC Home Equity Loan Trust Series 1998-D BV1<sup>(d)</sup> | TSFR1M + 3.364% | 7.0370 | 12/15/28 | 735200 |
| 48290 | UCFC Manufactured Housing Contract Series 3 M |  | 7.1150 | 01/15/29 | 48060 |
| 573841 | UCFC Manufactured Housing Contract Series 1998-3 M1 |  | 6.5060 | 01/15/30 | 571764 |
| 1532092 | Voyager CNTYW Delaware Trust Series 2009-1 5AT3<sup>(b),(e)</sup> |  | 4.0270 | 02/16/36 | 1469729 |
| 669991 | Voyager CNTYW Delaware Trust Series 2009-1 5AU0<sup>(b),(e)</sup> |  | 4.0270 | 02/16/36 | 629777 |
| 495978 | Voyager CNTYW Delaware Trust Series 2009-1 5AX4<sup>(b),(c),(e)</sup> |  | 4.1270 | 02/16/36 | 466253 |
| 4064764 | Voyager CNTYW Delaware Trust Series 2009-1 5DS2<sup>(b),(e)</sup> |  | 3.9870 | 05/16/36 | 3919954 |
| 828002 | Voyager IDYMC Delaware Trust Series 1 UAA3<sup>(d),(e)</sup> | TSFR1M + 0.284% | 3.9630 | 09/26/36 | 803781 |
| 2276021 | Voyager OPTONE Delaware Trust Series 2009-1 SAA7<sup>(b),(c),(e)</sup> |  | 2.4100 | 02/25/38 | 481321 |
| 395895 | Wachovia Mortgage Loan Trust, LLC Series 2005-A 2A1<sup>(b)</sup> |  | 3.7130 | 08/20/35 | 367911 |
| 28545 | Wachovia Mortgage Loan Trust, LLC Series 2006-A 1A1<sup>(b)</sup> |  | 2.8570 | 05/20/36 | 27114 |
| 63664 | WaMu Mortgage Backed Pass Through Certificates Series 2001-AR5 B1<sup>(b)</sup> |  | 5.7600 | 12/19/39 | 58606 |
| 21713 | WaMu Mortgage Backed Pass Through Certificates Series 2001-AR5 B4<sup>(b),(e)</sup> |  | 5.7600 | 12/19/39 | 19481 |
| 16291 | WaMu Mortgage Backed Pass Through Certificates Series 2001-AR5 B5<sup>(b),(e)</sup> |  | 5.7600 | 12/19/39 | 14474 |
| 15203 | WaMu Mortgage Backed Pass Through Certificates Series 2001-AR5 B6<sup>(b),(e)</sup> |  | 5.7600 | 12/19/39 | 11560 |
| 76012 | WaMu Mortgage Pass-Through Certificates Series 2002-AR13 M1<sup>(b)</sup> |  | 6.4950 | 10/25/32 | 73595 |

---

---

| |
|:---|
| **RATIONAL SPECIAL SITUATIONS INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **March 31, 2026** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Principal<br>Amount ($)** |  | **Spread** | **Coupon<br>Rate (%)** | **Maturity** | **Fair Value** |
|  | **ASSET BACKED SECURITIES — 79.7% (Continued)** |  |  |  |  |
|  | **NON-AGENCY RESIDENTIAL MORTGAGE BACKED SECURITIES — 43.6% (Continued)** |  |  |  |  |
| 297185 | WaMu Mortgage Pass-Through Certificates Series 2002-AR19 B1<sup>(b)</sup> |  | 5.2280 | 02/25/33 | $284097 |
| 1014935 | WaMu Mortgage Pass-Through Certificates Series 2003-S4 CB2<sup>(b)</sup> |  | 3.5200 | 06/25/33 | 450406 |
| 136603 | WaMu Mortgage Pass-Through Certificates Series 2003-AR9 1B2<sup>(b)</sup> |  | 5.3850 | 09/25/33 | 109018 |
| 137618 | WaMu Mortgage Pass-Through Certificates Series AR9 1B1<sup>(b)</sup> |  | 5.3850 | 09/25/33 | 126533 |
| 497553 | WaMu Mortgage Pass-Through Certificates Series 2003-S13 CB1<sup>(b)</sup> |  | 5.9790 | 01/25/34 | 480913 |
| 32036 | WaMu Mortgage Pass-Through Certificates Series AR16 2A2<sup>(b)</sup> |  | 4.5370 | 12/25/35 | 29542 |
| 30335 | WaMu Mortgage Pass-Through Certificates Series 2006-AR12 3A1<sup>(b)</sup> |  | 3.7070 | 10/25/36 | 26957 |
| 158554 | WaMu Mortgage Pass-Through Certificates Series 2001-AR3 B1<sup>(b)</sup> |  | 3.3550 | 11/25/41 | 143480 |
| 46591 | WaMu Mortgage Pass-Through Certificates Series 2002-AR6 B4<sup>(d),(e)</sup> | 12MTA + 1.400% | 5.2590 | 06/25/42 | 39371 |
| 59140 | WaMu Mortgage Pass-Through Certificates Series 2002-AR6 B3<sup>(d)</sup> | 12MTA + 1.400% | 5.2590 | 06/25/42 | 53441 |
| 57336 | WaMu Mortgage Pass-Through Certificates Series 2002-AR6 B2<sup>(d)</sup> | 12MTA + 1.400% | 5.2590 | 06/25/42 | 52637 |
| 114415 | WaMu Mortgage Pass-Through Certificates Series 2002-AR6 B1<sup>(d)</sup> | 12MTA + 1.400% | 5.2590 | 06/25/42 | 105869 |
| 28992 | WaMu Mortgage Pass-Through Certificates Series 2002-AR9 1B1<sup>(d)</sup> | 12MTA + 1.400% | 5.2590 | 08/25/42 | 28131 |
| 4855 | WaMu Mortgage Pass-Through Certificates Series 2002-AR9 1B3<sup>(d)</sup> | 12MTA + 1.400% | 5.2590 | 08/25/42 | 2831 |
| 1020704 | WaMu Mortgage Pass-Through Certificates Series AR9 A1A<sup>(d)</sup> | TSFR1M + 0.754% | 4.4330 | 07/25/45 | 1001394 |
| 3510111 | Washington Mutual Asset-Backed Certificates Series 2006-HE5 1A<sup>(d)</sup> | TSFR1M + 0.424% | 4.1030 | 10/25/36 | 2705895 |
| 1156792 | Washington Mutual Mortgage Pass-Through Series 2005-1 7A1 |  | 5.5000 | 03/25/35 | 1005009 |
| 306641 | Washington Mutual Mortgage Pass-Through Series 9 5A4<sup>(d)</sup> | TSFR1M + 35.094% | 8.1180 | 11/25/35 | 282087 |
| 1573536 | Washington Mutual Mortgage Pass-Through Series 2006-AR1 A1A<sup>(d)</sup> | TSFR1M + 0.614% | 4.2930 | 02/25/36 | 1345944 |
| 411323 | Washington Mutual Mortgage Pass-Through Series 2006-2 1A4<sup>(d)</sup> | US0001M + 0.700% | 4.4930 | 03/25/36 | 378129 |
| 2229158 | Washington Mutual Mortgage Pass-Through Series 2006-2 3CB |  | 6.0000 | 03/25/36 | 1753839 |
| 546019 | Washington Mutual Mortgage Pass-Through Series 2 1A1 |  | 6.0000 | 03/25/36 | 539175 |
| 388410 | Washington Mutual Mortgage Pass-Through Series 2006-AR5 3A<sup>(d)</sup> | 12MTA + 0.940% | 4.7990 | 07/25/46 | 241787 |
| 767669 | Washington Mutual Mortgage Pass-Through Series 2006-AR6 2A<sup>(d)</sup> | 12MTA + 0.960% | 4.8190 | 08/25/46 | 448542 |
| 13679 | Washington Mutual MSC Mortgage Pass-Through Series 2002-S4 B5<sup>(e)</sup> |  | 6.5000 | 10/19/29 | 13376 |
| 13679 | Washington Mutual MSC Mortgage Pass-Through Series 2002-S4 B4<sup>(e)</sup> |  | 6.5000 | 10/19/29 | 13371 |
| 19657 | Washington Mutual MSC Mortgage Pass-Through Series 2003-AR1 2A<sup>(b)</sup> |  | 4.3590 | 02/25/33 | 19331 |
| 360822 | Washington Mutual MSC Mortgage Pass-Through Series AR1 B2<sup>(b)</sup> |  | 4.9580 | 02/25/33 | 317781 |
| 257131 | Washington Mutual MSC Mortgage Pass-Through Series 2003-MS2 CB4<sup>(b),(e)</sup> |  | 5.7600 | 02/25/33 |  |
| 29682 | Washington Mutual MSC Mortgage Pass-Through Series 2003-MS7 B1 |  | 5.7500 | 03/25/33 | 29461 |
| 37889 | Washington Mutual MSC Mortgage Pass-Through Series 2003-MS3 CB3<sup>(b)</sup> |  | 5.7500 | 03/25/33 | 35201 |
| 501435 | Washington Mutual MSC Mortgage Pass-Through Series 2003-AR2 M<sup>(b)</sup> |  | 4.5660 | 05/25/33 | 494220 |

---

---

| |
|:---|
| **RATIONAL SPECIAL SITUATIONS INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **March 31, 2026** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Principal<br>Amount ($)** |  | **Spread** | **Coupon<br>Rate (%)** | **Maturity** | **Fair Value** |
|  | **ASSET BACKED SECURITIES — 79.7% (Continued)** |  |  |  |  |
|  | **NON-AGENCY RESIDENTIAL MORTGAGE BACKED SECURITIES — 43.6% (Continued)** |  |  |  |  |
| 379858 | Washington Mutual MSC Mortgage Pass-Through Series 2004-RA2 CB1<sup>(b)</sup> |  | 7.0000 | 07/25/33 | $312134 |
| 6138 | Wells Fargo Home Equity Asset-Backed Securities Series 2004-2 AI9<sup>(b)</sup> |  | 4.9800 | 04/25/34 | 6301 |
| 1143544 | Wells Fargo Home Equity Asset-Backed Securities Series 2W AI8I |  | 4.9000 | 09/25/34 | 1138441 |
| 454682 | Wells Fargo Home Equity Asset-Backed Securities Series 2 M7<sup>(d)</sup> | TSFR1M + 4.614% | 8.2930 | 10/25/34 | 480102 |
| 693175 | Wells Fargo Home Equity Asset-Backed Securities Series 2005-1 M9<sup>(d)</sup> | TSFR1M + 2.664% | 6.3430 | 04/25/35 | 709415 |
| 110858 | Wells Fargo Home Equity Asset-Backed Securities Series 2005-1 M10<sup>(d)</sup> | US0001M + 3.750% | 7.5430 | 04/25/35 | 115216 |
| 273067 | Wells Fargo Home Equity Asset-Backed Securities Series 3 M7<sup>(d)</sup> | TSFR1M + 1.839% | 5.5180 | 11/25/35 | 273058 |
| 20304 | Wells Fargo Mortgage Backed Securities Series 2003-I B2<sup>(b)</sup> |  | 6.3390 | 09/25/33 | 19375 |
| 19699 | Wells Fargo Mortgage Backed Securities Series 2004-K 1A3<sup>(b)</sup> |  | 6.4890 | 07/25/34 | 20163 |
|  |  |  |  |  | 566574454 |
|  | **STUDENT LOANS — 0.1%** |  |  |  |  |
| 1233416 | National Collegiate Trust Series 2007-A B<sup>(d),(e)</sup> | US0001M + 0.450% | 4.2380 | 11/25/34 | 1152546 |
|  | **TOTAL ASSET BACKED SECURITIES (Cost $1,028,642,187)** |  |  |  | 1037070347 |
|  | **CORPORATE BONDS — 14.8%** |  |  |  |  |
|  | **INSURANCE — 12.7%** |  |  |  |  |
| 8499683 | Ambac Assurance Corporation |  | 5.1000 | 06/07/60 | 11311607 |
| 93645891 | Ambac Assurance Corporation<sup>(e)</sup> |  | 5.1000 | 06/07/69 | 124626471 |
| 10652561 | MBIA Global Funding, LLC<sup>(a),(e),(h)</sup> |  | 0.0000 | 12/15/31 | 5301950 |
| 64989938 | MBIA Global Funding, LLC<sup>(a),(h)</sup> |  | 0.0000 | 12/15/33 | 24836681 |
|  |  |  |  |  | 166076709 |
|  | **REAL ESTATE OWNERS & DEVELOPERS — 0.4%** |  |  |  |  |
| 3500000 | Brixmor, LLC |  | 7.6500 | 11/02/26 | 3476373 |
| 1630000 | Brixmor, LLC |  | 6.9000 | 02/15/28 | 1620160 |
|  |  |  |  |  | 5096533 |
|  | **SPECIALTY FINANCE — 1.7%** |  |  |  |  |
| 10000000 | Argos Private Investments, LLC |  | 8.0000 | 12/31/27 | 10000000 |
| 16578291 | MSP Deer Finance Syndicated Loan |  | 17.0000 | 04/09/26 | 4144573 |
| 1973172 | PDOF MSN Issuer, LLC<sup>(d),(e)</sup> | SOFRRATE + 4.500% | 8.1300 | 03/15/27 | 1955189 |
| 783631 | US Capital Funding II Ltd.<sup>(a),(d),(e)</sup> | TSFR3M + 1.912% | 5.5750 | 08/01/34 | 716415 |

---

---

| |
|:---|
| **RATIONAL SPECIAL SITUATIONS INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **March 31, 2026** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal<br>Amount ($)** |  | **Coupon<br>Rate (%)** | **Maturity** | **Fair Value** |
|  | **CORPORATE BONDS — 14.8% (Continued)** |  |  |  |
|  | **SPECIALTY FINANCE — 1.7% (Continued)** |  |  |  |
| 4000000 | X-Caliber Funding, LLC<sup>(e)</sup> | 5.0000 | 10/15/26 | $3793716 |
| 1275000 | X-Caliber Funding, LLC<sup>(e)</sup> | 11.0000 | 10/15/26 | 1183747 |
|  |  |  |  | 21793640 |
|  | **TOTAL CORPORATE BONDS (Cost $214,443,763)** |  |  | 192966882 |
|  | **TERM LOANS — 0.1%** |  |  |  |
|  | **PROFESSIONAL SERVICES — 0.1%** |  |  |  |
| 1699467 | Farrel & Fuller Delayed Draw Term Loan | 18.0000 | 03/13/29 | 1712213 |
|  | **TOTAL TERM LOANS (Cost $1,699,467)** |  |  | 1712213 |
| **Shares** |  |  |  |  |
|  | **SHORT-TERM INVESTMENTS — 5.0%** |  |  |  |
|  | **MONEY MARKET FUNDS - 5.0%** |  |  |  |
| 65349277 | First American Treasury Obligations Fund, Class X, 3.58% (Cost $65,349,277)<sup>(i)</sup> |  |  | 65349277 |
|  | **TOTAL INVESTMENTS - 100.3% (Cost $1,319,687,569)** |  |  | $1306311719 |
|  | **LIABILITIES IN EXCESS OF OTHER ASSETS - (0.3)%** |  |  | (3579840) |
|  | **NET ASSETS - 100.0%** |  |  | $1302731879 |

---

---

| | |
|:---|:---|
| LLC | - Limited Liability Company |
| LTD | - Limited Company |
| REMIC | - Real Estate Mortgage Investment Conduit |
| 12MTA | Federal Reserve US 12 Month Cumulative Avg 1 Year CMT |
| H15T1Y | US Treasury Yield Curve Rate T Note Constant Maturity 1 Year |
| SOFR30A | United States 30 Day Average SOFR Secured Overnight Financing Rate |
| SOFRRATE | United States SOFR Secured Overnight Financing Rate |
| TSFR1M | 1 Month Secured Overnight Financing Rate |
| TSFR3M | 3 Month Secured Overnight Financing Rate |
| TSFR12M | 12 Month Secured Overnight Financing Rate |
| US0001M | ICE LIBOR USD 1 Month |

---

<sup>(a)</sup> Illiquid security. The total fair value of these securities as of March 31, 2026 was $69,808,591, representing 5.40% of net assets.

<sup>(b)</sup> Variable or floating rate security, the interest rate of which adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets.

<sup>(c)</sup> Interest only securities.

<sup>(d)</sup> Variable rate security; the rate shown represents the rate on March 31, 2026.

<sup>(e)</sup> Security exempt from registration under Rule 144A or Section 4(2) of the Securities Act of 1933. The security may be resold in transactions exempt from registration, normally to qualified institutional buyers. As of March 31, 2026 the total market value of 144A securities is $611,557,944 or 46.9% of net assets.

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

<sup>(g)</sup> Step bond. Coupon rate is fixed rate that changes on a specified date. The rate shown is the current rate at March 31, 2026.

<sup>(h)</sup> Zero coupon bond.

<sup>(i)</sup> Rate disclosed is the seven day effective yield as of March 31, 2026.

---

| |
|:---|
| **RATIONAL/RGN HEDGED EQUITY FUND** |
| **CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)** |
| **March 31, 2026** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Shares** | | | | **Fair Value** |
|  | **EXCHANGE-TRADED FUNDS — 81.5%** | **EXCHANGE-TRADED FUNDS — 81.5%** | **EXCHANGE-TRADED FUNDS — 81.5%** |  |
|  | **EQUITY - 81.5%** | **EQUITY - 81.5%** | **EQUITY - 81.5%** |  |
| 11435 | State Street SPDR S&P 500 ETF Trust | State Street SPDR S&P 500 ETF Trust | State Street SPDR S&P 500 ETF Trust | $7436638 |
| 12200 | Vanguard S&P 500 ETF | Vanguard S&P 500 ETF | Vanguard S&P 500 ETF | 7290110 |
|  |  |  |  | 14726748 |
|  | **TOTAL EXCHANGE-TRADED FUNDS (Cost $13,950,009)** | **TOTAL EXCHANGE-TRADED FUNDS (Cost $13,950,009)** | **TOTAL EXCHANGE-TRADED FUNDS (Cost $13,950,009)** | 14726748 |
|  | **SHORT-TERM INVESTMENTS — 2.8%** | **SHORT-TERM INVESTMENTS — 2.8%** | **SHORT-TERM INVESTMENTS — 2.8%** |  |
|  | **MONEY MARKET FUNDS - 2.8%** | **MONEY MARKET FUNDS - 2.8%** | **MONEY MARKET FUNDS - 2.8%** |  |
| 499221 | First American Treasury Obligations Fund, Class X, 3.58% (Cost $499,221)<sup>(a),(c)</sup> | First American Treasury Obligations Fund, Class X, 3.58% (Cost $499,221)<sup>(a),(c)</sup> | First American Treasury Obligations Fund, Class X, 3.58% (Cost $499,221)<sup>(a),(c)</sup> | 499221 |
|  | **TOTAL INVESTMENTS - 84.3% (Cost $14,449,230)** | **TOTAL INVESTMENTS - 84.3% (Cost $14,449,230)** | **TOTAL INVESTMENTS - 84.3% (Cost $14,449,230)** | $15225969 |
|  | **OTHER ASSETS IN EXCESS OF LIABILITIES - 15.7%** | **OTHER ASSETS IN EXCESS OF LIABILITIES - 15.7%** | **OTHER ASSETS IN EXCESS OF LIABILITIES - 15.7%** | 2836398 |
|  | **NET ASSETS - 100.0%** | **NET ASSETS - 100.0%** | **NET ASSETS - 100.0%** | $18062367 |
| **OPEN FUTURES CONTRACTS** | **OPEN FUTURES CONTRACTS** | **OPEN FUTURES CONTRACTS** | **OPEN FUTURES CONTRACTS** | **OPEN FUTURES CONTRACTS** |
| **Number of<br> Contracts** | **Open Long Futures Contracts** | **Expiration** | **Notional<br>Amount<sup>(b)</sup>** | **Value and<br>Unrealized<br>Appreciation<br>(Depreciation)** |
| 3 | CBOT 10 Year US Treasury Note Future | 06/22/2026 | $333141 | $422 |
| 1 | CBOT Corn Future<sup>(c)</sup> | 05/15/2026 | 22888 | (162) |
| 3 | CBOT Soybean Future<sup>(c)</sup> | 05/15/2026 | 175650 | 437 |
| 19 | CBOT Soybean Oil Future<sup>(c)</sup> | 05/15/2026 | 785232 | 38347 |
| 3 | CBOT US Treasure Bond Future | 06/22/2026 | 341625 | 1188 |
| 1 | CBOT Wheat Future<sup>(c)</sup> | 05/15/2026 | 30813 | 363 |
| 9 | CME Australian Dollar Currency Future | 06/16/2026 | 619425 | (5779) |
| 2 | CME British Pound Currency Future | 06/16/2026 | 165325 | (239) |
| 3 | CME E-Mini NASDAQ 100 Index Future | 06/22/2026 | 1434900 | 12875 |
| 3 | CME E-Mini Russell 2000 Index Future | 06/22/2026 | 376830 | 5605 |
| 21 | CME E-Mini Standard & Poor's 500 Index Future | 06/22/2026 | 6899287 | 92000 |
| 7 | CME Euro Foreign Exchange Currency Future | 06/16/2026 | 1013731 | 1669 |
| 6 | CME Mexican Peso Currency Future | 06/16/2026 | 166080 | (440) |
| 4 | CME Micro Bitcoin Future<sup>(c)</sup> | 04/27/2026 | 27214 | 178 |
| 1 | Euro-BTP Italian Bond Future | 06/09/2026 | 134397 | 1554 |
| 1 | HKG Hang Seng China Enterprises Index Future | 04/30/2026 | 53291 | 109 |
| 2 | HKG Hang Seng Index Future | 04/30/2026 | 315713 | 3215 |
| 6 | ICE US MSCI Emerging Markets EM Index Future | 06/22/2026 | 436380 | (90) |
| 1 | Micro E-Mini S&P 500 Future | 06/19/2026 | 32854 | (655) |
| 1 | NYBOT CSC Number 11 World Sugar Future<sup>(c)</sup> | 05/01/2026 | 17382 | 89 |
| 1 | NYBOT CTN Number 2 Cotton Future<sup>(c)</sup> | 05/07/2026 | 35000 | (615) |
| 6 | NYMEX Henry Hub Natural Gas Future<sup>(c)</sup> | 04/29/2026 | 173040 | (3720) |
| 2 | NYMEX Light Sweet Crude Oil Future<sup>(c)</sup> | 04/22/2026 | 202760 | (6080) |

---

---

| |
|:---|
| **RATIONAL/RGN HEDGED EQUITY FUND** |
| **CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **March 31, 2026** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **OPEN FUTURES CONTRACTS (Continued)** | **OPEN FUTURES CONTRACTS (Continued)** | **OPEN FUTURES CONTRACTS (Continued)** | **OPEN FUTURES CONTRACTS (Continued)** | **OPEN FUTURES CONTRACTS (Continued)** |
| **Number of<br>Contracts** | **Open Long Futures Contracts** | **Expiration** | **Notional<br>Amount<sup>(b)</sup>** | **Value and<br>Unrealized<br>Appreciation<br>(Depreciation)** |
| 4 | NYMEX NY Harbor ULSD Future<sup>(c)</sup> | 05/01/2026 | $691118 | $87962 |
| 5 | NYMEX Reformulated Gasoline Blendstock for Oxygen Blending Future<sup>(c)</sup> | 05/01/2026 | 672819 | 30921 |
| 1 | SGX Nikkei 225 Stock Index Future | 06/12/2026 | 161707 | (961) |
| 6 | Three-Month SOFR Future | 12/20/2028 | 1447950 | (188) |
| 3 | Ultra 10-Year US Treasury Note Future | 06/22/2026 | 340547 | 109 |
| 1 | Ultra U.S. Treasury Bond Future | 06/22/2026 | 116563 | 625 |
|  | **TOTAL LONG FUTURES CONTRACTS** |  |  | $258739 |
| **OPEN FUTURES CONTRACTS** | **OPEN FUTURES CONTRACTS** | **OPEN FUTURES CONTRACTS** | **OPEN FUTURES CONTRACTS** | **OPEN FUTURES CONTRACTS** |
| **Number of<br>Contracts** | **Open Short Futures Contracts** | **Expiration** | **Notional<br>Amount<sup>(b)</sup>** | **Value and<br>Unrealized<br>Appreciation<br>(Depreciation)** |
| 18 | CBOT 2 Year US Treasury Note Future | 07/01/2026 | $3734016 | $(5687) |
| 3 | CBOT 5 Year US Treasury Note Future | 07/01/2026 | 324539 | (352) |
| 7 | CME Canadian Dollar Currency Future | 06/17/2026 | 504000 | 5290 |
| 1 | CME Japanese Yen Currency Future | 06/16/2026 | 79175 | (113) |
| 1 | CME Yen Denominated Nikkei 225 Index Future | 06/12/2026 | 167204 | (173) |
| 1 | COMEX Copper Future<sup>(c)</sup> | 05/28/2026 | 140350 | (2537) |
| 3 | E-Mini Dow Jones Industrial Average Index Future | 06/22/2026 | 698730 | (10605) |
| 14 | Eurex 10 Year Euro BUND Future | 06/09/2026 | 2028964 | (1074) |
| 41 | Eurex 2 Year Euro SCHATZ Future | 06/09/2026 | 5011270 | (1957) |
| 2 | Eurex 30 Year Euro BUXL Future | 06/09/2026 | 254877 | (1156) |
| 17 | Eurex 5 Year Euro BOBL Future | 06/09/2026 | 2268042 | (1693) |
| 3 | Eurex EURO STOXX 50 Future | 06/22/2026 | 190534 | (208) |
| 5 | French Government Bond Future | 06/09/2026 | 685911 | (1514) |
| 2 | FTSE 100 Index Future | 06/22/2026 | 269979 | 549 |
| 1 | Long Gilt Future | 06/29/2026 | 116195 | (436) |
| 12 | SGX FTSE China A50 Futures Contract | 04/30/2026 | 174432 | 544 |
|  | **TOTAL SHORT FUTURES CONTRACTS** |  |  | $(21122) |
|  | **TOTAL FUTURES CONTRACTS** |  |  | $237617 |

---

ETF - Exchange-Traded Fund

<sup>(a)</sup> Rate disclosed is the seven day effective yield as of March 31, 2026.

<sup>(b)</sup> The amounts shown are the underlying reference notional amounts to stock exchange indices and equities upon which the fair value of the futures contracts held by the Fund are based. Notional values do not represent the current fair value of, and are not necessarily indicative of the future cash flows of the Fund's futures contracts. Further, the underlying price changes in relation to the variables specified by the notional values affects the fair value of these derivative financial instruments. The notional values as set forth within this schedule do not purport to represent economic value at risk to the Fund.

<sup>(c)</sup> All or a portion of this investment is a holding of the RRDEF Fund Ltd.

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Mutual Fund & Variable Insurance Trust

- **b. Investment Company Act file number:** 811-05010

- **c. CIK number of Registrant:** 0000810695

- **d. LEI of Registrant:** 5493002ZGLQMLR4QMA96

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

  - **Street Address 1:** 2960 N. MERIDIAN STREET

  - **City:** INDIANAPOLIS

  - **State:** IN

  - **Foreign country:** US

  - **Zip / Postal Code:** 46208

  - **Telephone number:** 800-253-0412

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

- **a. Name of Series:** Rational/Pier 88 Convertible Securities Fund

- **b. EDGAR series identifier (if any):** S000067226

- **c. LEI of Series:** 549300U10SED5ENMOS28

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

- **a. Date of fiscal year-end:** 2026-12-31

- **b. Date as of which information is reported:** 2026-03-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $205863347.53

**Total Liabilities:** $257648.87

**Net Assets:** $205605698.66

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 0.00000000 | **1-Year:** 5024.98444600 | **5-Year:** 7496.54700700 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

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

- **3-Month:** 21.78691000 | **1-Year:** 3710.11709500 | **5-Year:** 3393.01537300 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000216241 | 1.27%                | 0.18%                | -3.11%               |
| Class ID C000216242 | 1.28%                | 0.18%                | -3.17%               |
| Class ID C000216243 | 1.28%                | 0.09%                | -3.19%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $1353879.36              | $1093463.91                                |
| Month 2  | $-633868.06              | $539587.94                                 |
| Month 3  | $-436439.04              | $-5969834.57                               |

### Schedule of Portfolio Investments

| Name                              | Title               | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| ATI Inc                           | ATI INC             | CUSIP: 01741R102<br>LEI: ZW1LRE7C3H17O2ZN9B45 | Long             | EC               | CORP              | US        |      6900 | NS      | $1003674.00   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Alliant Energy Corporation        | LNT 3 1/4 05/30/28  | CUSIP: 018802AD0<br>LEI: 5493009ML300G373MZ12 | Long             | DBT              | CORP              | US        |   9980000 | PA      | $10573546.53  | 5.14%             | 2028-05-30      | Fixed         | 3.25%                 | Yes           |                  2 | On Loan: No      |
| Ares Management Corporation       | ARES 6 3/4          | CUSIP: 03990B309<br>LEI: 529900JUV61FH7B8VW38 | Long             | EP               | CORP              | US        |     71300 | NS      | $2579634.00   | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of America Corp.             | BAC 7 1/4 PERP      | CUSIP: 060505682<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EP               | CORP              | US        |      8048 | NS      | $9589674.88   | 4.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Bloom Energy Corporation          | BE 0 11/15/30       | CUSIP: 093712AN7<br>LEI: 549300XB5J9BFW5JXV97 | Long             | DBT              | CORP              | US        |   1460000 | PA      | $1554608.00   | 0.76%             | 2030-11-15      | Fixed         | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Boeing Co.                        | BA 6                | CUSIP: 097023204<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | EP               | CORP              | US        |     97300 | NS      | $6315743.00   | 3.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Cheniere Energy Inc               | CHENIERE ENERGY     | CUSIP: 16411R208<br>LEI: MIHC87W9WTYSYZWV1J40 | Long             | EC               | CORP              | US        |      9100 | NS      | $2582216.00   | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Cloudflare Inc                    | NET 0 06/15/30      | CUSIP: 18915MAE7<br>LEI: 5493007DY18BGNLDWU14 | Long             | DBT              | CORP              | US        |   4413000 | PA      | $5003255.78   | 2.43%             | 2030-06-15      | Fixed         | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Datadog Inc                       | DDOG 0 12/01/29     | CUSIP: 23804LAD5<br>LEI: 549300F6JNO0KRPO1K63 | Long             | DBT              | CORP              | US        |   3880000 | PA      | $3750020.00   | 1.82%             | 2029-12-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Digital Realty Trust, L.P.        | DLR 1 7/8 11/15/29  | CUSIP: 25389JAX4<br>LEI: CD4SPTZ3YBTHY0C1AH38 | Long             | DBT              | CORP              | US        |   9509000 | PA      | $10066514.48  | 4.90%             | 2029-11-15      | Fixed         | 1.88%                 | Yes           |                  2 | On Loan: No      |
| Dover Corporation                 | DOVER CORP          | CUSIP: 260003108<br>LEI: 549300FMC2ALGA7N9E80 | Long             | EC               | CORP              | US        |      5300 | NS      | $1104785.00   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| DraftKings Inc.                   | DKNG 0 03/15/28     | CUSIP: 26142RAB0<br>LEI: 2549006G33IUL6IVOD83 | Long             | DBT              | CORP              | US        |   5780000 | PA      | $5202000.00   | 2.53%             | 2028-03-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Etsy Inc                          | ETSY 0 1/4 06/15/28 | CUSIP: 29786AAN6<br>LEI: 54930089Q7XT501AEA40 | Long             | DBT              | CORP              | US        |  10430000 | PA      | $9312947.00   | 4.53%             | 2028-06-15      | Fixed         | 0.25%                 | No            |                  2 | On Loan: No      |
| First American Funds Inc.         | FIRST AM-TR OB-X    | CUSIP: 31846V328<br>LEI: 549300J5J5SJCZ9IA369 | Long             | STIV             | RF                | US        |  12832164 | PA      | $12832163.81  | 6.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Global Payments Inc               | GPN 1 1/2 03/01/31  | CUSIP: 37940XAU6<br>LEI: 549300NOMHGVQBX6S778 | Long             | DBT              | CORP              | US        |  11367000 | PA      | $10014907.29  | 4.87%             | 2031-03-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Guardant Health Inc               | GH 0 11/15/27       | CUSIP: 40131MAB5<br>LEI: 254900M8C3E5VC8BR186 | Long             | DBT              | CORP              | US        |   2049000 | PA      | $2105835.37   | 1.02%             | 2027-11-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Halozyme Therapeutics Inc         | HALO 0 1/4 03/01/27 | CUSIP: 40637HAD1<br>LEI: 529900242I3SV9AGM753 | Long             | DBT              | CORP              | US        |   2970000 | PA      | $3079518.75   | 1.50%             | 2027-03-01      | Fixed         | 0.25%                 | No            |                  2 | On Loan: No      |
| Hewlett Packard Enterprise Co.    | HPE 7 5/8           | CUSIP: 42824C208<br>LEI: 549300BX44RGX6ANDV88 | Long             | EP               | CORP              | US        |     89840 | NS      | $5795578.40   | 2.82%             |  |  |  | No            |                  1 | On Loan: No      |
| ITT Inc                           | ITT INC             | CUSIP: 45073V108<br>LEI: 549300KDSERHTJOXUS80 | Long             | EC               | CORP              | US        |     20300 | NS      | $3867759.00   | 1.88%             |  |  |  | No            |                  1 | On Loan: No      |
| KKR & Co Inc.                     | KKR 6 1/4           | CUSIP: 48251W500<br>LEI: 54930013V5I303TF9571 | Long             | EP               | CORP              | US        |     69800 | NS      | $2807356.00   | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Kite Realty Group, L.P.           | KRG 0 3/4 04/01/27  | CUSIP: 49803XAB9<br>LEI: 549300X6R2GYI8Y3OD81 | Long             | DBT              | CORP              | US        |   6350000 | PA      | $6847140.29   | 3.33%             | 2027-04-01      | Fixed         | 0.75%                 | Yes           |                  2 | On Loan: No      |
| Meritage Homes Corp               | MTH 1 3/4 05/15/28  | CUSIP: 59001ABF8<br>LEI: 52990044W9UMFJO2FB97 | Long             | DBT              | CORP              | US        |   9102000 | PA      | $8765226.00   | 4.26%             | 2028-05-15      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| Microchip Technology Incorporated | MCHP 7 1/2          | CUSIP: 595017302<br>LEI: 5493007PTFULNYZJ1R12 | Long             | EP               | CORP              | US        |     68000 | NS      | $3873960.00   | 1.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Microchip Technology Incorporated | MCHP 0 02/15/30     | CUSIP: 595017BM5<br>LEI: 5493007PTFULNYZJ1R12 | Long             | DBT              | CORP              | US        |   3140000 | PA      | $3063070.00   | 1.49%             | 2030-02-15      | Fixed         | 0.00%                 | Yes           |                  2 | On Loan: No      |
| NextEra Energy Inc                | NEE 7.234           | CUSIP: 65339F119<br>LEI: 254900RHL9MEUS5NKX63 | Long             | DBT              | CORP              | US        |    201000 | NS      | $10560540.00  | 5.14%             | 2027-11-01      | Fixed         | 7.23%                 | No            |                  1 | On Loan: No      |
| ON Semiconductor Corp.            | ON 0 1/2 03/01/29   | CUSIP: 682189AU9<br>LEI: ZV20P4CNJVT8V1ZGJ064 | Long             | DBT              | CORP              | US        |   9952000 | PA      | $9728080.00   | 4.73%             | 2029-03-01      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| PPL Capital Funding Inc.          | PPL 2 7/8 03/15/28  | CUSIP: 69352PAS2<br>LEI: 549300MROK5WY0D2NU17 | Long             | DBT              | CORP              | US        |   8920000 | PA      | $10449780.00  | 5.08%             | 2028-03-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| Shift4 Payments Inc               | FOUR 0 1/2 08/01/27 | CUSIP: 82452JAD1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3196000 | PA      | $2996250.00   | 1.46%             | 2027-08-01      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| Southern Co.                      | SO 4 1/2 06/15/27   | CUSIP: 842587DZ7<br>LEI: 549300FC3G3YU2FBZD92 | Long             | DBT              | CORP              | US        |   2820000 | PA      | $3132435.72   | 1.52%             | 2027-06-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Uber Technologies Inc             | UBER 0 7/8 12/01/28 | CUSIP: 90353TAM2<br>LEI: 549300B2FTG34FILDR98 | Long             | DBT              | CORP              | US        |   8169000 | PA      | $9823222.50   | 4.78%             | 2028-12-01      | Fixed         | 0.88%                 | No            |                  2 | On Loan: No      |
| WEC Energy Group Inc.             | WEC 4 3/8 06/01/29  | CUSIP: 92939UAR7<br>LEI: 549300IGLYTZUK3PVP70 | Long             | DBT              | CORP              | US        |   7944000 | PA      | $9826728.00   | 4.78%             | 2029-06-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                 | WFC 7 1/2 PERP      | CUSIP: 949746804<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EP               | CORP              | US        |      8200 | NS      | $9471000.00   | 4.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Welltower Inc.                    | WELLTOWER INC       | CUSIP: 95040Q104<br>LEI: 254900F33BIAR82QTA19 | Long             | EC               | CORP              | US        |     23400 | NS      | $4626414.00   | 2.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Medtronic PLC                     | MEDTRONIC PLC       | CUSIP: G5960L103<br>LEI: 549300GX3ZBSQWUXY261 | Long             | EC               | CORP              | IE        |     33200 | NS      | $2876780.00   | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-04-28

**Name of Applicant:** Mutual Fund & Variable Insurance Trust

**Signature:** Erik Naviloff

**Name of Signer:** Erik Naviloff

**Title:** Treasurer