# EDGAR Filing Document

**Accession Number:** 0001322252
**File Stem:** 0000910472-26-004627
**Filing Date:** 2026-3
**Character Count:** 139852
**Document Hash:** 8a7c0fce88b1da0ba7065f6e638e6a7f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000910472-26-004627.hdr.sgml**: 20260331

**ACCESSION NUMBER**: 0000910472-26-004627

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260131

**FILED AS OF DATE**: 20260331

**DATE AS OF CHANGE**: 20260331

**PERIOD START**: 20261031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** CRM Mutual Fund Trust
- **CENTRAL INDEX KEY:** 0001322252

**ORGANIZATION NAME:**
- **EIN:** 000000000

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-21749
- **FILM NUMBER:** 26816999

**BUSINESS ADDRESS:**
- **STREET 1:** C/O CRAMER ROSENTHAL MCGLYNN, LLC
- **STREET 2:** 28 HAVEMEYER PLACE
- **CITY:** GREENWICH
- **STATE:** CT
- **ZIP:** 06830
- **BUSINESS PHONE:** 212.326.5334

**MAIL ADDRESS:**
- **STREET 1:** C/O CRAMER ROSENTHAL MCGLYNN, LLC
- **STREET 2:** 28 HAVEMEYER PLACE
- **CITY:** GREENWICH
- **STATE:** CT
- **ZIP:** 06830

## Series and Classes Contracts Data

### CRM MID CAP VALUE FUND (Series ID: S000001322)

| Class ID   | Class Name    | Ticker Symbol   |
|:---|:---|:---|
| C000003538 | INSTITUTIONAL | CRIMX           |
| C000003539 | INVESTOR      | CRMMX           |

## Nport-Ex

**CRM SMALL CAP VALUE FUND**

**SCHEDULE OF INVESTMENTS**

**January 31, 2026 (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Value** |
|  | **COMMON STOCK — 98.6%** |  |
|  | **Consumer Discretionary - 12.2%** |  |
|  | Apparel & Textile Products **-** 2.7% |  |
| 42677 | Steven Madden Ltd.<sup>1</sup> | $1872667 |
|  | Automotive **-** 1.3% |  |
| 112818 | Dauch Corporation<sup>1</sup> | 899159 |
|  | Home Construction **-** 3.5% |  |
| 31303 | Champion Homes, Inc.<sup>1</sup> | 2453529 |
|  | Leisure Facilities & Services **-** 2.7% |  |
| 44006 | BJ's Restaurants, Inc.<sup>1</sup> | 1840331 |
|  | Retail - Discretionary **-** 2.0% |  |
| 15580 | Advance Auto Parts, Inc. <sup>2</sup> | 747996 |
| 12207 | Victoria's Secret & Company<sup>1</sup> | 665404 |
|  |  | 1413400 |
|  | **Total Consumer Discretionary** | 8479086 |
|  | **Energy - 7.0%** |  |
|  | Oil & Gas Producers **-** 4.0% |  |
| 23214 | Matador Resources Company | 1050201 |
| 45898 | Range Resources Corporation | 1737239 |
|  |  | 2787440 |
|  | Oil & Gas Services & Equipment **-** 2.0% |  |
| 118924 | TETRA Technologies, Inc.<sup>1</sup> | 1355734 |
|  | Renewable Energy **-** 1.0% |  |
| 73343 | Shoals Technologies Group, Inc., Class A<sup>1</sup> | 692358 |
|  | **Total Energy** | 4835532 |
|  | **Financials - 27.1%** |  |
|  | Banking **-** 18.1% |  |
| 20729 | Bank of Hawaii Corporation | 1550115 |

---

**CRM SMALL CAP VALUE FUND**

**SCHEDULE OF INVESTMENTS (Continued)**

**January 31, 2026 (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Value** |
|  | **Financials - 27.1% (Continued)** |  |
|  | Banking **-** 18.1% (Continued) |  |
| 59956 | BankUnited, Inc. | $2846111 |
| 376978 | Capitol Federal Financial, Inc. | 2744400 |
| 67974 | Central Pacific Financial Corporation | 2213913 |
| 39667 | First Interstate BancSystem, Inc., Class A | 1406988 |
| 129053 | TFS Financial Corporation | 1816421 |
|  |  | 12577948 |
|  | Institutional Financial Services **-** 3.0% |  |
| 28854 | Moelis & Company, Class A | 2067966 |
|  | Specialty Finance **-** 6.0% |  |
| 134267 | LendingClub Corporation<sup>1</sup> | 2270455 |
| 27940 | Stewart Information Services Corporation | 1883994 |
|  |  | 4154449 |
|  | **Total Financials** | 18800363 |
|  | **Health Care - 8.5%** |  |
|  | Health Care Facilities & Services **-** 2.6% |  |
| 80879 | Concentra Group Holdings Parent, Inc. | 1793896 |
|  | Medical Equipment & Devices **-** 5.9% |  |
| 27379 | Bio-Techne Corporation | 1754720 |
| 47563 | Omnicell, Inc.<sup>1</sup> | 2306806 |
|  |  | 4061526 |
|  | **Total Health Care** | 5855422 |
|  | **Industrials - 8.9%** |  |
|  | Electrical Equipment **-** 2.3% |  |
| 101546 | Hayward Holdings, Inc.<sup>1</sup> | 1638952 |
|  | Industrial Support Services **-** 3.7% |  |
| 5440 | Applied Industrial Technologies, Inc. | 1416631 |
| 56542 | WillScot Holdings Corporation<sup>1,2</sup> | 1132536 |
|  |  | 2549167 |

---

**CRM SMALL CAP VALUE FUND**

**SCHEDULE OF INVESTMENTS (Continued)**

**January 31, 2026 (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Value** |
|  | **Industrials - 8.9% (Continued)** |  |
|  | Transportation & Logistics **-** 2.9% |  |
| 42039 | Hub Group, Inc., Class A<sup>1</sup> | $2000216 |
|  | **Total Industrials** | 6188335 |
|  | **Materials - 8.9%** |  |
|  | Chemicals **-** 7.6% |  |
| 26414 | H.B. Fuller Company | 1587481 |
| 9383 | Quaker Chemical Corporation | 1442543 |
| 23211 | Rogers Corporation<sup>1</sup> | 2257038 |
|  |  | 5287062 |
|  | Containers & Packaging **-** 1.3% |  |
| 52799 | Clearwater Paper Corporation<sup>1</sup> | 888079 |
|  | **Total Materials** | 6175141 |
|  | **Real Estate - 7.4%** |  |
|  | REIT **-** 7.4% |  |
| 96539 | Independence Realty Trust, Inc. | 1612201 |
| 22528 | Terreno Realty Corporation | 1386373 |
| 142236 | Xenia Hotels & Resorts, Inc. | 2097981 |
|  | **Total Real Estate** | 5096555 |
|  | **Technology - 14.5%** |  |
|  | Semiconductors **-** 2.5% |  |
| 37926 | Cohu, Inc.<sup>1</sup> | 1082408 |
| 14528 | Ultra Clean Holdings, Inc.<sup>1</sup> | 634583 |
|  |  | 1716991 |
|  | Software **-** 4.9% |  |
| 174422 | ACV Auctions, Inc.<sup>1</sup> | 1362236 |
| 25310 | I3 Verticals, Inc., Class A<sup>1,2</sup> | 562135 |
| 179843 | ZoomInfo Technologies, Inc., Class A<sup>1</sup> | 1447736 |
|  |  | 3372107 |

---

**CRM SMALL CAP VALUE FUND**

**SCHEDULE OF INVESTMENTS (Continued)**

**January 31, 2026 (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Value** |
|  | **Technology - 14.5% (Continued)** |  |
|  | Technology Hardware **-** 7.1% |  |
| 75170 | ADTRAN Holdings, Inc. | $693067 |
| 105113 | Knowles Corporation<sup>1</sup> | 2547939 |
| 70141 | Viavi Solutions, Inc.<sup>1</sup> | 1715649 |
|  |  | 4956655 |
|  | **Total Technology** | 10045753 |
|  | **Utilities - 4.1%** |  |
|  | Gas & Water Utilities **-** 4.1% |  |
| 10896 | Chesapeake Utilities Corporation | 1402097 |
| 26825 | Middlesex Water Company | 1405094 |
|  | **Total Utilities** | 2807191 |
|  | **TOTAL COMMON STOCK (Cost $57,005,944)** | 68283378 |
|  | **SHORT-TERM INVESTMENTS — 0.5%** |  |
| 167970 | Blackrock Liquidity Funds T-Fund, Institutional Shares, 3.57%<sup>3</sup> | 167970 |
| 167969 | Federated Hermes Treasury Obligations Fund, Institutional Shares, 3.55%<sup>3</sup> | 167969 |
|  | **TOTAL SHORT TERM INVESTMENTS (Cost $335,939)** | 335939 |
|  | **TOTAL INVESTMENTS BEFORE SHORT TERM INVESTMENT HELD AS COLLATERAL FOR LOANED SECURITIES – 99.1% (Cost $57,341,883)** | 68619317 |

---

**CRM SMALL CAP VALUE FUND**

**SCHEDULE OF INVESTMENTS (Continued)**

**January 31, 2026 (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Value** |
|  | **SHORT TERM INVESTMENT HELD AS COLLATERAL FOR LOANED SECURITIES — 1.6%** |  |
| 1140481 | Invesco Government & Agency Portfolio, 3.55%<sup>3</sup> | $1140481 |
|  | **TOTAL SHORT TERM INVESTMENT HELD AS COLLATERAL FOR LOANED SECURITIES (Cost $1,140,481)** | 1140481 |
|  | **TOTAL INVESTMENTS - 100.7% (Cost $58,482,364)** | $69759798<sup>4</sup> |
|  | **LIABILITIES IN EXCESS OF OTHER ASSETS - (0.7)%** | (476688) |
|  | **NET ASSETS - 100.0%** | $69283110 |

---

<sup>1</sup> Non-income producing security.

<sup>2</sup> Security partially or fully on loan.

<sup>3</sup> Rate disclosed is the seven day effective yield as of January 31, 2026.

<sup>4</sup> At January 31, 2026, the market value of securities on loan for CRM Small Cap Value Fund was $1,119,686. In the event that the collateral received is insufficient to cover the value of the loaned securities and provided such collateral shortfall is not the result of investment losses, the Fund's securities lending agent, The Bank of New York Mellon, has agreed to pay the amount of the shortfall to the Fund, or at its discretion, replace the loaned securities.

**CRM SMALL/MID CAP VALUE FUND**

**SCHEDULE OF INVESTMENTS** 

**January 31, 2026 (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Value** |
|  | **COMMON STOCK — 98.4%** |  |
|  | **Consumer Discretionary - 15.7%** |  |
|  | Apparel & Textile Products **-** 2.6% |  |
| 83739 | Steven Madden Ltd.<sup>1</sup> | $3674467 |
|  | Automotive **-** 1.0% |  |
| 179923 | Dauch Corporation<sup>1</sup> | 1433986 |
|  | Home Construction **-** 3.8% |  |
| 70123 | Champion Homes, Inc.<sup>1</sup> | 5496241 |
|  | Leisure Facilities & Services **-** 4.5% |  |
| 69883 | BJ's Restaurants, Inc.<sup>1</sup> | 2922507 |
| 26581 | Vail Resorts, Inc. | 3537135 |
|  |  | 6459642 |
|  | Retail - Discretionary **-** 3.8% |  |
| 15863 | Advance Auto Parts, Inc. <sup>2</sup> | 761583 |
| 4744 | Burlington Stores, Inc.<sup>1</sup> | 1403560 |
| 19188 | Floor & Decor Holdings, Inc., Class A<sup>1</sup> | 1265640 |
| 38148 | Victoria's Secret & Company<sup>1</sup> | 2079447 |
|  |  | 5510230 |
|  | **Total Consumer Discretionary** | 22574566 |
|  | **Consumer Staples - 0.8%** |  |
|  | Food **-** 0.8% |  |
| 6935 | Marzetti Company (The) | 1189838 |
|  | **Energy - 4.6%** |  |
|  | Oil & Gas Producers **-** 3.6% |  |
| 35453 | Matador Resources Company | 1603894 |
| 93339 | Range Resources Corporation | 3532881 |
|  |  | 5136775 |

---

**CRM SMALL/MID CAP VALUE FUND**

**SCHEDULE OF INVESTMENTS (Continued)**

**January 31, 2026 (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Value** |
|  | **Energy - 4.6% (Continued)** |  |
|  | Oil & Gas Services & Equipment **-** 1.0% |  |
| 128400 | TETRA Technologies, Inc.<sup>1</sup> | $1463760 |
|  | **Total Energy** | 6600535 |
|  | **Financials - 18.2%** |  |
|  | Banking **-** 11.0% |  |
| 136526 | BankUnited, Inc. | 6480890 |
| 147126 | First Interstate BancSystem, Inc., Class A | 5218559 |
| 290830 | TFS Financial Corporation | 4093432 |
|  |  | 15792881 |
|  | Institutional Financial Services **-** 2.3% |  |
| 46491 | Moelis & Company, Class A | 3332010 |
|  | Specialty Finance **-** 4.9% |  |
| 41549 | First American Financial Corporation | 2625066 |
| 261908 | LendingClub Corporation<sup>1</sup> | 4428864 |
|  |  | 7053930 |
|  | **Total Financials** | 26178821 |
|  | **Health Care - 7.5%** |  |
|  | Health Care Facilities & Services **-** 1.9% |  |
| 121252 | Concentra Group Holdings Parent, Inc. | 2689369 |
|  | Medical Equipment & Devices **-** 5.6% |  |
| 65573 | Bio-Techne Corporation | 4202573 |
| 25107 | Cooper Companies, Inc. (The)<sup>1</sup> | 2043208 |
| 36607 | Omnicell, Inc.<sup>1</sup> | 1775440 |
|  |  | 8021221 |
|  | **Total Health Care** | 10710590 |
|  | **Industrials - 11.4%** |  |
|  | Electrical Equipment **-** 2.3% |  |
| 207198 | Hayward Holdings, Inc.<sup>1</sup> | 3344176 |

---

**CRM SMALL/MID CAP VALUE FUND**

**SCHEDULE OF INVESTMENTS (Continued)**

**January 31, 2026 (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Value** |
|  | **Industrials - 11.4% (Continued)** |  |
|  | Industrial Support Services **-** 1.9% |  |
| 139032 | WillScot Holdings Corporation<sup>1</sup> | $2784811 |
|  | Machinery **-** 3.0% |  |
| 27059 | Regal Rexnord Corporation | 4370029 |
|  | Transportation & Logistics **-** 4.2% |  |
| 125111 | Hub Group, Inc., Class A<sup>1</sup> | 5952781 |
|  | **Total Industrials** | 16451797 |
|  | **Materials - 8.5%** |  |
|  | Chemicals **-** 5.6% |  |
| 64561 | HB Fuller Company | 3880116 |
| 19163 | Qnity Electronics, Inc. | 1843097 |
| 24212 | Sensient Technologies Corporation | 2288518 |
|  |  | 8011731 |
|  | Construction Materials **-** 2.9% |  |
| 27944 | Advanced Drainage Systems, Inc. | 4248606 |
|  | **Total Materials** | 12260337 |
|  | **Real Estate - 6.7%** |  |
|  | REIT **-** 6.7% |  |
| 30598 | Sun Communities, Inc. | 3899104 |
| 58312 | Terreno Realty Corporation | 3588520 |
| 144147 | Xenia Hotels & Resorts, Inc. | 2126168 |
|  | **Total Real Estate** | 9613792 |
|  | **Technology - 21.4%** |  |
|  | Semiconductors **-** 10.9% |  |
| 23942 | MKS, Inc. | 5636186 |
| 29485 | Silicon Motion Technology Corporation - ADR | 3506651 |

---

**CRM SMALL/MID CAP VALUE FUND**

**SCHEDULE OF INVESTMENTS (Continued)**

**January 31, 2026 (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Value** |
|  | **Technology - 21.4% (Continued)** |  |
|  | Semiconductors **-** 10.9% (Continued) |  |
| 48459 | Tower Semiconductor Ltd.<sup>1</sup> | $6528881 |
|  |  | 15671718 |
|  | Software **-** 3.6% |  |
| 355635 | ACV Auctions, Inc.<sup>1</sup> | 2777509 |
| 292477 | ZoomInfo Technologies, Inc., Class A<sup>1</sup> | 2354440 |
|  |  | 5131949 |
|  | Technology Hardware **-** 6.9% |  |
| 6645 | Ciena Corporation<sup>1</sup> | 1673277 |
| 161098 | Knowles Corporation<sup>1</sup> | 3905016 |
| 6955 | Teledyne Technologies, Inc.<sup>1</sup> | 4314186 |
|  |  | 9892479 |
|  | **Total Technology** | 30696146 |
|  | **Utilities - 3.6%** |  |
|  | Electric Utilities **-** 2.7% |  |
| 50549 | Evergy, Inc. | 3878625 |
|  | Gas & Water Utilities **-** 0.9% |  |
| 7820 | Atmos Energy Corporation | 1300779 |
|  | **Total Utilities** | 5179404 |
|  | **TOTAL COMMON STOCK (Cost $119,811,110)** | 141455826 |
|  | **SHORT-TERM INVESTMENTS — 1.4%** |  |
| 994229 | Blackrock Liquidity Funds T-Fund, Institutional Shares, 3.57%<sup>3</sup> | 994229 |
| 994229 | Federated Hermes Treasury Obligations Fund, Institutional Shares, 3.55%<sup>3</sup> | 994229 |
|  | **TOTAL SHORT TERM INVESTMENTS (Cost $1,988,458)** | 1988458 |
|  | **TOTAL INVESTMENTS BEFORE SHORT TERM INVESTMENT HELD AS COLLATERAL FOR LOANED SECURITIES – 99.8% (Cost $121,799,568)** | 143444284 |

---

**CRM SMALL/MID CAP VALUE FUND**

**SCHEDULE OF INVESTMENTS (Continued)**

**January 31, 2026 (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Value** |
|  | **SHORT TERM INVESTMENT HELD AS COLLATERAL FOR LOANED SECURITIES — 0.6%** |  |
| 792230 | Invesco Government & Agency Portfolio, 3.55%<sup>3</sup> | $792230 |
|  | **TOTAL SHORT TERM INVESTMENT HELD AS COLLATERAL FOR LOANED SECURITIES (Cost $792,230)** | 792230 |
|  | **TOTAL INVESTMENTS - 100.4% (Cost $122,591,798)** | $144236514<sup>4</sup> |
|  | **LIABILITIES IN EXCESS OF OTHER ASSETS - (0.4)%** | (571922) |
|  | **NET ASSETS - 100.0%** | $143664592 |

---

ADR - American Depositary Receipt

<sup>1</sup> Non-income producing security.

<sup>2</sup> Security partially or fully on loan.

<sup>3</sup> Rate disclosed is the seven day effective yield as of January 31, 2026.

<sup>4</sup> At January 31, 2026, the market value of securities on loan for CRM Small/Mid Cap Value Fund was $761,583. In the event that the collateral received is insufficient to cover the value of the loaned securities and provided such collateral shortfall is not the result of investment losses, the Fund's securities lending agent, The Bank of New York Mellon, has agreed to pay the amount of the shortfall to the Fund, or at its discretion, replace the loaned securities.

**CRM MID CAP VALUE FUND**

**SCHEDULE OF INVESTMENTS**

**January 31, 2026 (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Value** |
|  | **COMMON STOCK — 95.8%** |  |
|  | **Consumer Discretionary - 8.7%** |  |
|  | Home Construction **-** 3.6% |  |
| 120929 | Champion Homes, Inc.<sup>1</sup> | $9478415 |
|  | Leisure Facilities & Services **-** 0.9% |  |
| 17542 | Vail Resorts, Inc. | 2334314 |
|  | Retail - Discretionary **-** 4.2% |  |
| 14645 | Burlington Stores, Inc.<sup>1</sup> | 4332870 |
| 133275 | Valvoline, Inc.<sup>1</sup> | 4360757 |
| 43505 | Victoria's Secret & Company<sup>1</sup> | 2371458 |
|  |  | 11065085 |
|  | **Total Consumer Discretionary** | 22877814 |
|  | **Energy - 2.5%** |  |
|  | Oil & Gas Producers **-** 2.5% |  |
| 59166 | Matador Resources Company | 2676670 |
| 102219 | Range Resources Corporation | 3868989 |
|  | **Total Energy** | 6545659 |
|  | **Financials - 12.3%** |  |
|  | Banking **-** 5.6% |  |
| 163945 | BankUnited, Inc. | 7782469 |
| 134481 | Truist Financial Corporation | 6915013 |
|  |  | 14697482 |
|  | Institutional Financial Services **-** 2.4% |  |
| 18263 | Evercore, Inc., Class A | 6451770 |
|  | Specialty Finance **-** 4.3% |  |
| 29067 | Capital One Financial Corporation | 6363638 |
| 78187 | First American Financial Corporation | 4939855 |
|  |  | 11303493 |
|  | **Total Financials** | 32452745 |

---

**CRM MID CAP VALUE FUND**

**SCHEDULE OF INVESTMENTS (Continued)**

**January 31, 2026 (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Value** |
|  | **Health Care - 6.9%** |  |
|  | Health Care Facilities & Services **-** 2.3% |  |
| 276670 | Concentra Group Holdings Parent, Inc. | $6136541 |
|  | Medical Equipment & Devices **-** 4.6% |  |
| 88866 | Bio-Techne Corporation | 5695422 |
| 78548 | Cooper Companies, Inc. (The)<sup>1</sup> | 6392236 |
|  |  | 12087658 |
|  | **Total Health Care** | 18224199 |
|  | **Industrials - 19.5%** |  |
|  | Aerospace & Defense **-** 2.9% |  |
| 23552 | Woodward, Inc. | 7485768 |
|  | Electrical Equipment **-** 6.1% |  |
| 34326 | AMETEK, Inc. | 7688337 |
| 221283 | Vontier Corporation | 8298112 |
|  |  | 15986449 |
|  | Industrial Support Services **-** 3.6% |  |
| 17828 | Applied Industrial Technologies, Inc. | 4642589 |
| 238813 | WillScot Holdings Corporation<sup>1,2</sup> | 4783425 |
|  |  | 9426014 |
|  | Machinery **-** 5.0% |  |
| 50276 | Regal Rexnord Corporation | 8119574 |
| 37384 | Xylem, Inc. | 5154132 |
|  |  | 13273706 |
|  | Transportation & Logistics **-** 1.9% |  |
| 67955 | Canadian Pacific Kansas City Ltd. | 5051775 |
|  | **Total Industrials** | 51223712 |
|  | **Materials - 14.2%** |  |
|  | Chemicals **-** 8.6% |  |
| 98800 | Ashland, Inc. | 6042608 |
| 35420 | Avery Dennison Corporation | 6570764 |

---

**CRM MID CAP VALUE FUND**

**SCHEDULE OF INVESTMENTS (Continued)**

**January 31, 2026 (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Value** |
|  | **Materials - 14.2% (Continued)** |  |
|  | Chemicals **-** 8.6% (Continued) |  |
| 37682 | Corteva, Inc. | $2743250 |
| 48101 | Qnity Electronics, Inc.<sup>1</sup> | 4626354 |
| 27538 | Sensient Technologies Corporation | 2602892 |
|  |  | 22585868 |
|  | Construction Materials **-** 5.6% |  |
| 38453 | Advanced Drainage Systems, Inc. | 5846394 |
| 50090 | CRH PLC | 6131517 |
| 13526 | Eagle Materials, Inc. | 2756734 |
|  |  | 14734645 |
|  | **Total Materials** | 37320513 |
|  | **Real Estate - 9.0%** |  |
|  | REIT **-** 9.0% |  |
| 54454 | Camden Property Trust | 5938209 |
| 35954 | CBRE Group, Inc., Class A<sup>1</sup> | 6124044 |
| 46211 | Sun Communities, Inc. | 5888668 |
| 94822 | Terreno Realty Corporation | 5835346 |
|  | **Total Real Estate** | 23786267 |
|  | **Technology - 17.8%** |  |
|  | Semiconductors **-** 6.4% |  |
| 97196 | Microchip Technology, Inc. | 7379121 |
| 25424 | MKS, Inc. | 5985064 |
| 44540 | Semtech Corporation<sup>1</sup> | 3552065 |
|  |  | 16916250 |
|  | Software **-** 3.4% |  |
| 672976 | ACV Auctions, Inc.<sup>1</sup> | 5255943 |
| 451829 | ZoomInfo Technologies, Inc., Class A<sup>1</sup> | 3637223 |
|  |  | 8893166 |
|  | Technology Hardware **-** 5.8% |  |
| 24728 | Ciena Corporation<sup>1</sup> | 6226758 |
| 14384 | Teledyne Technologies, Inc.<sup>1</sup> | 8922395 |
|  |  | 15149153 |

---

**CRM MID CAP VALUE FUND**

**SCHEDULE OF INVESTMENTS (Continued)**

**January 31, 2026 (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Value** |
|  | Technology Services **-** 2.2% |  |
| 82252 | Global Payments, Inc. | $5900758 |
|  | **Total Technology** | 46859327 |
|  | **Utilities - 4.9%** |  |
|  | Electric Utilities **-** 2.0% |  |
| 68142 | Evergy, Inc. | 5228536 |
|  | Gas & Water Utilities **-** 2.9% |  |
| 45875 | Atmos Energy Corporation | 7630847 |
|  | **Total Utilities** | 12859383 |
|  | **TOTAL COMMON STOCK (Cost $202,980,601)** | 252149619 |
|  | **SHORT-TERM INVESTMENTS — 3.4%** |  |
| 4468484 | Blackrock Liquidity Funds T-Fund, Institutional Shares, 3.57%<sup>3</sup> | 4468484 |
| 4468483 | Federated Hermes Treasury Obligations Fund, Institutional Shares, 3.55%<sup>3</sup> | 4468483 |
|  | **TOTAL SHORT TERM INVESTMENTS (Cost $8,936,967)** | 8936967 |
|  | **TOTAL INVESTMENTS BEFORE SHORT TERM INVESTMENT HELD AS COLLATERAL FOR LOANED SECURITIES – 99.2% (Cost $211,917,568)** | 261086586 |

---

**CRM MID CAP VALUE FUND**

**SCHEDULE OF INVESTMENTS (Continued)**

**January 31, 2026 (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Value** |
|  | **SHORT TERM INVESTMENT HELD AS COLLATERAL FOR LOANED SECURITIES — 0.1%** |  |
| 62688 | Invesco Government & Agency Portfolio, 3.55%<sup>3</sup> | $62688 |
|  | **TOTAL SHORT TERM INVESTMENT HELD AS COLLATERAL FOR LOANED SECURITIES (Cost $62,688)** | 62688 |
|  | **TOTAL INVESTMENTS - 99.3% (Cost $211,980,256)** | $261149274<sup>4</sup> |
|  | **OTHER ASSETS IN EXCESS OF LIABILITIES - 0.7%** | 1969965 |
|  | **NET ASSETS - 100.0%** | $263119239 |

---

<sup>1</sup> Non-income producing security.

<sup>2</sup> Security partially or fully on loan.

<sup>3</sup> Rate disclosed is the seven day effective yield as of September 30, 2025.

<sup>4</sup> At January 31, 2026, the market value of securities on loan for CRM Mid Cap Value Fund was $60,511. In the event that the collateral received is insufficient to cover the value of the loaned securities and provided such collateral shortfall is not the result of investment losses, the Fund's securities lending agent, The Bank of New York Mellon, has agreed to pay the amount of the shortfall to the Fund, or at its discretion, replace the loaned securities.

**CRM ALL CAP VALUE FUND**

**SCHEDULE OF INVESTMENTS**

**January 31, 2026 (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Value** |
|  | **COMMON STOCK — 96.9%** |  |
|  | **Consumer Discretionary - 9.3%** |  |
|  | Automotive **-** 1.0% |  |
| 24188 | Dauch Corporation<sup>1</sup> | $192778 |
|  | Home Construction **-** 3.8% |  |
| 8959 | Champion Homes, Inc.<sup>1</sup> | 702206 |
|  | Leisure Facilities & Services **-** 0.9% |  |
| 1256 | Vail Resorts, Inc. | 167136 |
|  | Retail - Discretionary **-** 3.6% |  |
| 616 | Burlington Stores, Inc.<sup>1</sup> | 182250 |
| 9696 | Valvoline, Inc.<sup>1,2</sup> | 317253 |
| 3082 | Victoria's Secret & Company<sup>1</sup> | 168000 |
|  |  | 667503 |
|  | **Total Consumer Discretionary** | 1729623 |
|  | **Energy - 4.7%** |  |
|  | Oil & Gas Producers **-** 2.4% |  |
| 4809 | Matador Resources Company | 217559 |
| 6225 | Range Resources Corporation | 235617 |
|  |  | 453176 |
|  | Oil & Gas Services & Equipment **-** 2.3% |  |
| 37431 | TETRA Technologies, Inc.<sup>1</sup> | 426713 |
|  | **Total Energy** | 879889 |
|  | **Financials - 18.7%** |  |
|  | Asset Management **-** 2.5% |  |
| 4509 | Charles Schwab Corporation (The) | 468575 |
|  | Banking **-** 7.3% |  |
| 9909 | BankUnited, Inc. | 470380 |
| 4044 | Citigroup, Inc. | 467931 |

---

**CRM ALL CAP VALUE FUND**

**SCHEDULE OF INVESTMENTS (Continued)**

**January 31, 2026 (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Value** |
|  | **Financials - 18.7% (Continued)** |  |
|  | Banking **-** 7.3% (Continued) |  |
| 8387 | Truist Financial Corporation | $431260 |
|  |  | 1369571 |
|  | Institutional Financial Services **-** 1.5% |  |
| 3810 | Moelis & Company, Class A | 273063 |
|  | Specialty Finance **-** 7.4% |  |
| 1973 | Capital One Financial Corporation | 431949 |
| 6903 | First American Financial Corporation | 436132 |
| 31058 | LendingClub Corporation<sup>1</sup> | 525191 |
|  |  | 1393272 |
|  | **Total Financials** | 3504481 |
|  | **Health Care - 7.7%** |  |
|  | Health Care Facilities & Services **-** 2.8% |  |
| 24041 | Concentra Group Holdings Parent, Inc. | 533229 |
|  | Medical Equipment & Devices **-** 4.9% |  |
| 5711 | Cooper Companies, Inc. (The)<sup>1</sup> | 464761 |
| 1197 | Danaher Corporation | 262011 |
| 3903 | Omnicell, Inc.<sup>1</sup> | 189296 |
|  |  | 916068 |
|  | **Total Health Care** | 1449297 |
|  | **Industrials - 14.9%** |  |
|  | Aerospace & Defense **-** 2.8% |  |
| 1610 | Woodward, Inc. | 511722 |
|  | Electrical Equipment **-** 2.4% |  |
| 12028 | Vontier Corporation | 451050 |
|  | Industrial Support Services **-** 2.3% |  |
| 21695 | WillScot Holdings Corporation<sup>1</sup> | 434551 |

---

**CRM ALL CAP VALUE FUND**

**SCHEDULE OF INVESTMENTS (Continued)**

**January 31, 2026 (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Value** |
|  | **Industrials - 14.9% (Continued)** |  |
|  | Machinery **-** 5.4% |  |
| 3944 | Regal Rexnord Corporation | $636956 |
| 2710 | Xylem, Inc. | 373628 |
|  |  | 1010584 |
|  | Transportation & Logistics **-** 2.0% |  |
| 7904 | Hub Group, Inc., Class A<sup>1</sup> | 376072 |
|  | **Total Industrials** | 2783979 |
|  | **Materials - 11.7%** |  |
|  | Chemicals **-** 7.4% |  |
| 6540 | Ashland, Inc. | 399986 |
| 4572 | Qnity Electronics, Inc. | 439735 |
| 5512 | Rogers Corporation<sup>1</sup> | 535987 |
|  |  | 1375708 |
|  | Construction Materials **-** 4.3% |  |
| 2453 | Advanced Drainage Systems, Inc. | 372954 |
| 3539 | CRH PLC | 433209 |
|  |  | 806163 |
|  | **Total Materials** | 2181871 |
|  | **Real Estate - 6.1%** |  |
|  | REIT **-** 6.1% |  |
| 2637 | CBRE Group, Inc., Class A<sup>1</sup> | 449161 |
| 3117 | Sun Communities, Inc. | 397199 |
| 4712 | Terreno Realty Corporation | 289976 |
|  | **Total Real Estate** | 1136336 |
|  | **Technology - 22.3%** |  |
|  | Semiconductors **-** 10.0% |  |
| 1418 | Broadcom, Inc. | 469784 |
| 7413 | Microchip Technology, Inc. | 562795 |
| 1799 | MKS, Inc. | 423503 |

---

**CRM ALL CAP VALUE FUND**

**SCHEDULE OF INVESTMENTS (Continued)**

**January 31, 2026 (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Value** |
|  | **Technology - 22.3% (Continued)** |  |
|  | Semiconductors **-** 10.0% (Continued) |  |
| 3117 | Tower Semiconductor Ltd.<sup>1</sup> | $419953 |
|  |  | 1876035 |
|  | Software **-** 4.1% |  |
| 50700 | ACV Auctions, Inc.<sup>1</sup> | 395967 |
| 46914 | ZoomInfo Technologies, Inc., Class A<sup>1</sup> | 377658 |
|  |  | 773625 |
|  | Technology Hardware **-** 5.1% |  |
| 1745 | Ciena Corporation<sup>1</sup> | 439408 |
| 20648 | Viavi Solutions, Inc.<sup>1</sup> | 505050 |
|  |  | 944458 |
|  | Technology Services **-** 3.1% |  |
| 8077 | Global Payments, Inc. | 579444 |
|  | **Total Technology** | 4173562 |
|  | **Utilities - 1.5%** |  |
|  | Electric Utilities **-** 1.5% |  |
| 3573 | Evergy, Inc. | 274156 |
|  | **TOTAL COMMON STOCK (Cost $14,648,790)** | 18113194 |
|  | **SHORT-TERM INVESTMENTS — 1.3%** |  |
| 125270 | Blackrock Liquidity Funds T-Fund, Institutional Shares, 3.57%<sup>3</sup> | 125270 |
| 125270 | Federated Hermes Treasury Obligations Fund, Institutional Shares, 3.55%<sup>3</sup> | 125270 |
|  | **TOTAL SHORT TERM INVESTMENTS (Cost $250,540)** | 250540 |
|  | **TOTAL INVESTMENTS BEFORE SHORT TERM INVESTMENT HELD AS COLLATERAL FOR LOANED SECURITIES – 98.2% (Cost $14,899,330)** | 18363734 |

---

**CRM ALL CAP VALUE FUND**

**SCHEDULE OF INVESTMENTS (Continued)**

**January 31, 2026 (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Value** |
|  | **SHORT TERM INVESTMENT HELD AS COLLATERAL FOR LOANED SECURITIES — 2.0%** |  |
| 362258 | Invesco Government & Agency Portfolio, 3.55%<sup>3</sup> | $362258 |
|  | **TOTAL SHORT TERM INVESTMENT HELD AS COLLATERAL FOR LOANED SECURITIES (Cost $362,258)** | 362258 |
|  | **TOTAL INVESTMENTS - 100.2% (Cost $15,261,588)** | $18725992<sup>4</sup> |
|  | **LIABILITIES IN EXCESS OF OTHER ASSETS - (0.2)%** | (31599) |
|  | **NET ASSETS - 100.0%** | $18694393 |

---

<sup>1</sup> Non-income producing security.

<sup>2</sup> Security partially or fully on loan.

<sup>3</sup> Rate disclosed is the seven day effective yield as of January 31, 2026.

<sup>4</sup> At January 31, 2026, the market value of securities on loan for CRM All Cap Value Fund was $317,253. In the event that the collateral received is insufficient to cover the value of the loaned securities and provided such collateral shortfall is not the result of investment losses, the Fund's securities lending agent, The Bank of New York Mellon, has agreed to pay the amount of the shortfall to the Fund, or at its discretion, replace the loaned securities.

**CRM LONG/SHORT OPPORTUNITIES FUND**

**SCHEDULE OF INVESTMENTS**

**January 31, 2026 (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Value** |
|  | **COMMON STOCK — 90.3%** |  |
|  | **Consumer Discretionary - 19.7%** |  |
|  | Apparel & Textile Products **-** 3.1% |  |
| 295257 | Steven Madden Ltd.<sup>1</sup> | $12955877 |
|  | Automotive **-** 2.9% |  |
| 805895 | Dauch Corporation<sup>1</sup> | 6422983 |
| 615342 | Mobileye Global, Inc., Class A<sup>1</sup> | 5525771 |
|  |  | 11948754 |
|  | Home Construction **-** 4.0% |  |
| 210329 | Champion Homes, Inc.<sup>1</sup> | 16485587 |
|  | Leisure Facilities & Services **-** 5.2% |  |
| 269616 | BJ's Restaurants, Inc.<sup>1</sup> | 11275342 |
| 75618 | Vail Resorts, Inc. | 10062487 |
|  |  | 21337829 |
|  | Retail - Discretionary **-** 4.5% |  |
| 45824 | Advance Auto Parts, Inc. | 2200010 |
| 23565 | Burlington Stores, Inc.<sup>1</sup> | 6971941 |
| 54749 | Floor & Decor Holdings, Inc., Class A<sup>1</sup> | 3611244 |
| 109948 | Victoria's Secret & Company<sup>1</sup> | 5993265 |
|  |  | 18776460 |
|  | **Total Consumer Discretionary** | 81504507 |
|  | **Energy - 4.9%** |  |
|  | Oil & Gas Producers **-** 2.8% |  |
| 305402 | Range Resources Corporation | 11559466 |
|  | Oil & Gas Services & Equipment **-** 2.1% |  |
| 777557 | TETRA Technologies, Inc.<sup>1</sup> | 8864150 |
|  | **Total Energy** | 20423616 |
|  | **Financials - 13.5%** |  |
|  | Banking **-** 7.9% |  |
| 427187 | BankUnited, Inc. | 20278566 |

---

**CRM LONG/SHORT OPPORTUNITIES FUND**

**SCHEDULE OF INVESTMENTS (Continued)**

**January 31, 2026 (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Value** |
|  | **Financials - 13.5% (Continued)** |  |
|  | Banking **-** 7.9% |  |
| 348744 | First Interstate BancSystem, Inc., Class A | $12369950 |
|  |  | 32648516 |
|  | Institutional Financial Services **-** 1.8% |  |
| 21703 | Evercore, Inc., Class A | 7667019 |
|  | Specialty Finance **-** 3.8% |  |
| 107765 | First American Financial Corporation | 6808593 |
| 528470 | LendingClub Corporation<sup>1</sup> | 8936427 |
|  |  | 15745020 |
|  | **Total Financials** | 56060555 |
|  | **Health Care - 5.5%** |  |
|  | Health Care Facilities & Services **-** 1.4% |  |
| 260306 | Concentra Group Holdings Parent, Inc. | 5773587 |
|  | Medical Equipment & Devices **-** 4.1% |  |
| 167844 | Bio-Techne Corporation | 10757122 |
| 77587 | Cooper Companies, Inc. (The)<sup>1</sup> | 6314030 |
|  |  | 17071152 |
|  | **Total Health Care** | 22844739 |
|  | **Industrials - 19.8%** |  |
|  | Electrical Equipment **-** 5.0% |  |
| 735928 | Hayward Holdings, Inc.<sup>1</sup> | 11877877 |
| 236463 | Vontier Corporation | 8867363 |
|  |  | 20745240 |
|  | Industrial Support Services **-** 2.7% |  |
| 555306 | WillScot Holdings Corporation<sup>1</sup> | 11122779 |
|  | Machinery **-** 5.1% |  |
| 80819 | Regal Rexnord Corporation | 13052269 |
| 57853 | Xylem, Inc. | 7976193 |
|  |  | 21028462 |

---

**CRM LONG/SHORT OPPORTUNITIES FUND**

**SCHEDULE OF INVESTMENTS (Continued)**

**January 31, 2026 (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Value** |
|  | **Industrials - 19.8% (Continued)** |  |
|  | Transportation & Logistics **-** 7.0% |  |
| 160909 | Canadian Pacific Kansas City Ltd. | $11961975 |
| 357776 | Hub Group, Inc., Class A<sup>1</sup> | 17022982 |
|  |  | 28984957 |
|  | **Total Industrials** | 81881438 |
|  | **Real Estate - 1.7%** |  |
|  | REIT **-** 1.7% |  |
| 56826 | Sun Communities, Inc. | 7241337 |
|  | **Technology - 22.4%** |  |
|  | Semiconductors **-** 11.7% |  |
| 76966 | MKS, Inc. | 18118566 |
| 117658 | Silicon Motion Technology Corporation - ADR | 13993066 |
| 121934 | Tower Semiconductor Ltd.<sup>1</sup> | 16428168 |
|  |  | 48539800 |
|  | Software **-** 3.8% |  |
| 1034160 | ACV Auctions, Inc.<sup>1</sup> | 8076790 |
| 925325 | ZoomInfo Technologies, Inc., Class A<sup>1</sup> | 7448866 |
|  |  | 15525656 |
|  | Technology Hardware **-** 6.9% |  |
| 22495 | Ciena Corporation<sup>1</sup> | 5664466 |
| 480352 | Knowles Corporation<sup>1</sup> | 11643733 |
| 18364 | Teledyne Technologies, Inc.<sup>1</sup> | 11391189 |
|  |  | 28699388 |
|  | **Total Technology** | 92764844 |
|  | **Utilities - 2.8%** |  |
|  | Electric Utilities **-** 2.8% |  |
| 152241 | Evergy, Inc. | 11681452 |
|  | **TOTAL COMMON STOCK (Cost $329,274,439)** | 374402488 |

---

**CRM LONG/SHORT OPPORTUNITIES FUND**

**SCHEDULE OF INVESTMENTS (Continued)**

**January 31, 2026 (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Value** |
|  | **SHORT-TERM INVESTMENTS — 13.3%** |  |
| 27491853 | Blackrock Liquidity Funds T-Fund, Institutional Shares, 3.57%<sup>2</sup> | $27491853 |
| 27491853 | Federated Hermes Treasury Obligations Fund, Institutional Shares, 3.55%<sup>2</sup> | 27491853 |
|  | **TOTAL SHORT TERM INVESTMENTS (Cost $54,983,706)** | 54983706 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Contracts<sup>3</sup>** |  | **Expiration Date** | **Exercise Price** | **Notional Value** | |
|  | **OPTIONS PURCHASED - 0.3%** |  |  |  |  |
|  | **CALL OPTIONS PURCHASED - 0.1%** |  |  |  |  |
| 6903 | CBOE Volatility Index | 02/19/2026 | $25.00 | $12038832 | 635076 |
|  | **TOTAL CALL OPTIONS PURCHASED (Cost - $641,314)** |  |  |  |  |
|  | **PUT OPTIONS PURCHASED - 0.2%** |  |  |  |  |
| 666 | Invesco QQQ Trust Series 1 | 02/17/2026 | 625.00 | 41416542 | 727272 |
|  | **TOTAL PUT OPTIONS PURCHASED (Cost - $413,608)** |  |  |  |  |
|  | **TOTAL OPTIONS PURCHASED (Cost - $1,054,922)** |  |  |  | 1362348 |
|  | **TOTAL INVESTMENTS IN SECURITIES – 103.9% (Cost - $385,313,067)** | **TOTAL INVESTMENTS IN SECURITIES – 103.9% (Cost - $385,313,067)** |  |  | 430748542 |

---

---

| | | |
|:---|:---|:---|
|  | **COMMON STOCK SOLD SHORT — (13.7)%** |  |
|  | **Consumer Discretionary - (6.4)%** |  |
|  | Apparel & Textile Products **-** (0.8)% |  |
| (42057) | On Holding A.G. | (1903079) |
| (62797) | VF Corporation | (1230193) |
|  |  | (3133272) |
|  | Home Construction **-** (0.7)% |  |
| (19220) | D.R. Horton, Inc. | (2860705) |
|  | Leisure Facilities & Services **-** (1.2)% |  |
| (60762) | MGM Resorts International | (2037957) |
| (30863) | Starbucks Corporation | (2837853) |
|  |  | (4875810) |
|  | Retail - Discretionary **-** (3.7)% |  |
| (29729) | Abercrombie & Fitch Company, Class A | (2902442) |
| (14597) | Dick's Sporting Goods, Inc. | (2948594) |
| (7537) | Lowe's Companies, Inc. | (2012831) |
| (82162) | Tractor Supply Company | (4180403) |

---

**CRM LONG/SHORT OPPORTUNITIES FUND**

**SCHEDULE OF INVESTMENTS (Continued)**

**January 31, 2026 (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Value** |
|  | **Consumer Discretionary - (6.4)% (Continued)** |  |
|  | Retail - Discretionary **-** (3.7)% (Continued) |  |
| (48799) | Urban Outfitters, Inc. | $(3457409) |
|  |  | (15501679) |
|  | **Total Consumer Discretionary** | (26371466) |
|  | **Consumer Staples - (1.3)%** |  |
|  | Retail - Consumer Staples **-** (1.3)% |  |
| (86704) | Kroger Company (The) | (5449346) |
|  | **Financials - (2.2)%** |  |
|  | Banking **-** (2.2)% |  |
| (220196) | Fulton Financial Corporation | (4547047) |
| (66264) | Hancock Whitney Corporation | (4558963) |
|  | **Total Financials** | (9106010) |
|  | **Industrials - (1.1)%** |  |
|  | Electrical Equipment **-** (0.3)% |  |
| (9567) | Bloom Energy Corporation, Class A | (1448157) |
|  | Machinery **-** (0.8)% |  |
| (140705) | Gates Industrial Corporation PLC | (3239029) |
|  | **Total Industrials** | (4687186) |
|  | **Technology - (2.7)%** |  |
|  | Semiconductors **-** (0.5)% |  |
| (8112) | Advanced Micro Devices, Inc. | (1920354) |
|  | Software **-** (2.2)% |  |
| (3553) | Adobe, Inc. | (1041917) |
| (8925) | Atlassian Corporation PLC, Class A | (1054757) |
| (19541) | Doximity, Inc., Class A | (732201) |
| (1969) | Intuit, Inc. | (982374) |
| (73862) | Phreesia, Inc. | (991967) |

---

**CRM LONG/SHORT OPPORTUNITIES FUND**

**SCHEDULE OF INVESTMENTS (Continued)**

**January 31, 2026 (Unaudited)**

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Value** |
|  | **Technology - (2.7)% (Continued)** |  |
|  | Software **-** (2.2)% (Continued) |  |
| (343843) | Rezolve AI PLC | $(887115) |
| (4666) | Salesforce, Inc. | (990545) |
| (4991) | Snowflake, Inc., Class A | (961766) |
| (27075) | Waystar Holding Corporation | (719112) |
| (5687) | Workday, Inc., Class A | (998808) |
|  |  | (9360562) |
|  | **Total Technology** | (11280916) |
|  | **TOTAL COMMON STOCK SOLD SHORT - (Proceeds - $56,631,697)** | (56894924) |
|  | **OTHER ASSETS IN EXCESS OF LIABILITIES - 9.8%** | 40604348 |
|  | **NET ASSETS - 100.0%** | $414457966 |

---

ADR - American Depositary Receipt

<sup>1</sup> Non-income producing security. <br> <sup>2</sup> Rate disclosed is the seven day effective yield as of January 31, 2026. <br> <sup>3</sup> Each option contract allows the holder of the option to purchase or sell 100 shares of the underlying security.

**CRM LONG/SHORT OPPORTUNITIES FUND**

**SCHEDULE OF INVESTMENTS (Continued)**

**January 31, 2026 (Unaudited)**

**OTC Total return swap agreements outstanding at January 31, 2026:**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Counterparty** | **Financing Rate<sup>(1)</sup>** | **Termination Date** | **Long (Short) Notional Amount<sup>(2)</sup>** | **Reference Entity** | **Fair Value** | **Upfront Premiums Paid (Received)** | **Unrealized Appreciation (Depreciation)** |
| Morgan Stanley | 4.29% (Fed Funds Rate + 0.65%) | 3/2/2026 | $5128388 | Capital One Financial Corporation | $(91857) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | $(91857) |
| Morgan Stanley | 4.29% (Fed Funds Rate + 0.65%) | 3/2/2026 | 7066671 | Charles Schwab | 764002 |  | 764002 |
| Morgan Stanley | 4.29% (Fed Funds Rate + 0.65%) | 3/2/2026 | 11668531 | NextEra Energy, Inc. | 1286890 |  | 1286890 |
| Morgan Stanley | 3.19% (Fed Funds Rate - 0.45%) | 7/28/2026 | (4755918) | Morgan Stanley Custom Swap (MSCM1453) Index<sup>(3)</sup> | (144250) |  | (144250) |
| Morgan Stanley | 3.19% (Fed Funds Rate - 0.45%) | 7/28/2026 | (4825935) | Morgan Stanley Custom Swap (MSCM1454) Index<sup>(3)</sup> | (203234) |  | (203234) |
| Morgan Stanley | 3.19% (Fed Funds Rate - 0.45%) | 7/28/2026 | (4849465) | Morgan Stanley Custom Swap (MSCM1455) Index<sup>(3)</sup> | (146369) |  | (146369) |
| Morgan Stanley | 3.19% (Fed Funds Rate - 0.45%) | 7/28/2026 | (4953289) | Morgan Stanley Custom Swap (MSCM1456) Index<sup>(3)</sup> | (75331) |  | (75331) |
| Morgan Stanley | 3.19% (Fed Funds Rate - 0.45%) | 7/28/2026 | (4931598) | Morgan Stanley Custom Swap (MSCM1457) Index<sup>(3)</sup> | (189653) |  | (189653) |
| Morgan Stanley | 3.19% (Fed Funds Rate - 0.45%) | 7/28/2026 | (4942188) | Morgan Stanley Custom Swap (MSCM1458) Index<sup>(3)</sup> | (105506) |  | (105506) |
| Morgan Stanley | 3.19% (Fed Funds Rate - 0.45%) | 7/28/2026 | (4944428) | Morgan Stanley Custom Swap (MSCM1459) Index<sup>(3)</sup> | (84653) |  | (84653) |
| Morgan Stanley | 3.19% (Fed Funds Rate - 0.45%) | 7/28/2026 | (4976711) | Morgan Stanley Custom Swap (MSCM1460) Index<sup>(3)</sup> | (48430) |  | (48430) |
| Morgan Stanley | 3.19% (Fed Funds Rate - 0.45%) | 7/28/2026 | (4950605) | Morgan Stanley Custom Swap (MSCM1461) Index<sup>(3)</sup> | 10292 |  | 10292 |
| Morgan Stanley | 3.19% (Fed Funds Rate - 0.45%) | 7/28/2026 | (4989202) | Morgan Stanley Custom Swap (MSCM1462) Index<sup>(3)</sup> | 49770 |  | 49770 |
| Morgan Stanley | 3.19% (Fed Funds Rate - 0.45%) | 7/28/2026 | (5025822) | Morgan Stanley Custom Swap (MSCM1463) Index<sup>(3)</sup> | 48487 |  | 48487 |
| Morgan Stanley | 3.19% (Fed Funds Rate - 0.45%) | 7/28/2026 | (4971477) | Morgan Stanley Custom Swap (MSCM1464) Index<sup>(3)</sup> | (18721) |  | (18721) |
| Morgan Stanley | 3.19% (Fed Funds Rate - 0.45%) | 7/28/2026 | (5007371) | Morgan Stanley Custom Swap (MSCM1465) Index<sup>(3)</sup> | 8237 |  | 8237 |
| Morgan Stanley | 3.19% (Fed Funds Rate - 0.45%) | 7/28/2026 | (5093788) | Morgan Stanley Custom Swap (MSCM1466) Index<sup>(3)</sup> | 126083 |  | 126083 |
| Morgan Stanley | 3.19% (Fed Funds Rate - 0.45%) | 7/28/2026 | (5072276) | Morgan Stanley Custom Swap (MSCM1467) Index<sup>(3)</sup> | 58371 |  | 58371 |
| Morgan Stanley | 3.19% (Fed Funds Rate - 0.45%) | 7/28/2026 | (4990633) | Morgan Stanley Custom Swap (MSCM1468) Index<sup>(3)</sup> | 53630 |  | 53630 |
| Morgan Stanley | 3.19% (Fed Funds Rate - 0.45%) | 7/28/2026 | (4979445) | Morgan Stanley Custom Swap (MSCM1469) Index<sup>(3)</sup> | 70686 |  | 70686 |
| Morgan Stanley | 3.19% (Fed Funds Rate - 0.45%) | 7/28/2026 | (4982805) | Morgan Stanley Custom Swap (MSCM1470) Index<sup>(3)</sup> | 97130 |  | 97130 |
| Morgan Stanley | 3.19% (Fed Funds Rate - 0.45%) | 7/28/2026 | (4940209) | Morgan Stanley Custom Swap (MSCM1471) Index<sup>(3)</sup> | 33209 |  | 33209 |
| Morgan Stanley | 3.19% (Fed Funds Rate - 0.45%) | 7/28/2026 | (4959678) | Morgan Stanley Custom Swap (MSCM1472) Index<sup>(3)</sup> | (12557) |  | (12557) |
| Total Unrealized Appreciation | Total Unrealized Appreciation |  |  |  |  |  | $2606787 |
| Total Unrealized (Depreciation) | Total Unrealized (Depreciation) |  |  |  |  |  | $(1120561) |
| Total | Total |  |  |  | $1486226 | $- | $1486226 |

---

<sup>(1)</sup> Paid monthly.

<sup>(2)</sup> Morgan Stanley acts as the counterparty to the total return swap contracts listed above. The Fund either receives fees from, or pays fees to, the counterparty, depending upon the total return of the benchmark, and the agreed - upon floating rate financing rate.

<sup>(3)</sup> See the tables below for the swap constituents.

**CRM LONG/SHORT OPPORTUNITIES FUND**

**SCHEDULE OF INVESTMENTS (Continued)**

**January 31, 2026 (Unaudited)**

The following table represents the individual positions and related values of underlying securities of Morgan Stanley Custom Basket (MSCM1453) Index total return swap with Morgan Stanley Bank as of January 31, 2026, termination date 7/28/26:

---

| | | | |
|:---|:---|:---|:---|
| **Reference Entity** | **Shares** | **Market Value** | **% of Total Index Value** |
| Church & Dwight Company, Inc. | 1718 | $165354 | 3.37% |
| Sysco Corporation | 1955 | 163913 | 3.34% |
| Constellation Brands, Inc. | 1044 | 163619 | 3.34% |
| Anheuser-Busch InBev S.A. - ADR | 2249 | 161237 | 3.29% |
| Advanced Micro Devices, Inc. | 673 | 159233 | 3.25% |
| Illumina, Inc. | 1098 | 159043 | 3.25% |
| Estee Lauder Companies, Inc. (The) | 1376 | 158578 | 3.24% |
| Johnson & Johnson | 696 | 158182 | 3.23% |
| Sherwin-Williams Company (The) | 445 | 157659 | 3.22% |
| Teva Pharmaceutical Industries Ltd. - ADR | 4616 | 157298 | 3.21% |
| Ecolab, Inc. | 549 | 154735 | 3.16% |
| PepsiCo, Inc. | 1004 | 154199 | 3.15% |
| Hershey Company (The) | 792 | 154160 | 3.15% |
| HCA Healthcare, Inc. | 309 | 150658 | 3.07% |
| Cardinal Health, Inc. | 701 | 150627 | 3.07% |
| Amgen, Inc. | 440 | 150464 | 3.07% |
| NVIDIA Corporation | 772 | 147628 | 3.01% |
| Canadian Imperial Bank of Commerce | 1590 | 146881 | 3.00% |
| McKesson Corporation | 176 | 145969 | 2.98% |
| Moody's Corporation | 282 | 145380 | 2.97% |
| Kroger Company (The) | 2306 | 144904 | 2.96% |
| General Mills, Inc. | 3098 | 143308 | 2.92% |
| Carlyle Group, Inc. | 2437 | 143247 | 2.92% |
| Nokia Corporation, Class A | 22265 | 143161 | 2.92% |
| Brookfield Corporation | 3139 | 142984 | 2.92% |
| Mettler-Toledo International, Inc. | 103 | 141887 | 2.90% |
| W. R. Berkley Corporation | 2054 | 140888 | 2.87% |
| CyberArk Software Ltd. | 323 | 139133 | 2.84% |
| Allstate Corporation (The) | 692 | 137712 | 2.81% |
| Blackstone, Inc. | 935 | 133098 | 2.72% |
| Progressive Corporation | 633 | 131577 | 2.68% |
| NetApp, Inc. | 1345 | 129605 | 2.64% |
| Coinbase Global, Inc., Class A | 637 | 124050 | 2.53% |
|  |  | $4900371 | 100.00% |

---

The following table represents the individual positions and related values of underlying securities of Morgan Stanley Custom Basket (MSCM1454) Index total return swap with Morgan Stanley Bank as of January 31, 2026, termination date 7/28/26:

---

| | | | |
|:---|:---|:---|:---|
| **Reference Entity** | **Shares** | **Market Value** | **% of Total Index Value** |
| Western Digital Corporation | 948 | $237145 | 4.71% |
| Church & Dwight Company, Inc. | 2153 | 207181 | 4.12% |
| Sysco Corporation | 2450 | 205393 | 4.08% |
| Anheuser-Busch InBev S.A. - ADR | 2792 | 200138 | 3.98% |
| Constellation Brands, Inc. | 1260 | 197454 | 3.93% |
| Teva Pharmaceutical Industries Ltd. - ADR | 5748 | 195875 | 3.89% |
| Sherwin-Williams Company (The) | 543 | 192427 | 3.83% |
| PepsiCo, Inc. | 1251 | 192143 | 3.82% |
| Estee Lauder Companies, Inc. (The) | 1666 | 192081 | 3.82% |

---

**CRM LONG/SHORT OPPORTUNITIES FUND**

**SCHEDULE OF INVESTMENTS (Continued)**

**January 31, 2026 (Unaudited)**

---

| | | | |
|:---|:---|:---|:---|
| **Reference Entity** | **Shares** | **Market Value** | **% of Total Index Value** |
| Illumina, Inc. | 1324 | $191735 | 3.81% |
| Ecolab, Inc. | 677 | 190991 | 3.80% |
| Hershey Company (The) | 975 | 189919 | 3.78% |
| Advanced Micro Devices, Inc. | 796 | 188440 | 3.75% |
| Motorola Solutions, Inc. | 467 | 187932 | 3.74% |
| Pfizer, Inc. | 7065 | 186787 | 3.71% |
| Amgen, Inc. | 543 | 185616 | 3.69% |
| Moody's Corporation | 356 | 183796 | 3.65% |
| NVIDIA Corporation | 942 | 180033 | 3.58% |
| General Mills, Inc. | 3891 | 179986 | 3.58% |
| Canadian Imperial Bank of Commerce | 1936 | 178873 | 3.56% |
| Kroger Company (The) | 2825 | 177574 | 3.53% |
| Nokia Corporation, Class A | 27325 | 175699 | 3.49% |
| Allstate Corporation (The) | 873 | 173670 | 3.45% |
| Carlyle Group, Inc. | 2923 | 171806 | 3.42% |
| NetApp, Inc. | 1671 | 160977 | 3.20% |
| Blackstone, Inc. | 1120 | 159537 | 3.17% |
| Coinbase Global, Inc., Class A | 752 | 146457 | 2.91% |
|  |  | $5029665 | 100.00% |

---

The following table represents the individual positions and related values of underlying securities of Morgan Stanley Custom Basket (MSCM1455) Index total return swap with Morgan Stanley Bank as of January 31, 2026, termination date 7/28/26:

---

| | | | |
|:---|:---|:---|:---|
| **Reference Entity** | **Shares** | **Market Value** | **% of Total Index Value** |
| CH Robinson Worldwide, Inc. | 350 | $68218 | 1.37% |
| Sysco Corporation | 804 | 67401 | 1.35% |
| Church & Dwight Company, Inc. | 696 | 66956 | 1.34% |
| Anheuser-Busch InBev S.A. - ADR | 925 | 66288 | 1.33% |
| Johnson & Johnson | 286 | 65080 | 1.30% |
| Carrier Global Corporation | 1088 | 64809 | 1.30% |
| Constellation Brands, Inc. | 411 | 64337 | 1.29% |
| Teva Pharmaceutical Industries Ltd. - ADR | 1887 | 64324 | 1.29% |
| PepsiCo, Inc. | 418 | 64244 | 1.29% |
| Lowe's Companies, Inc. | 239 | 63844 | 1.28% |
| Eaton Corporation PLC | 182 | 63805 | 1.28% |
| Home Depot, Inc. (The) | 170 | 63697 | 1.27% |
| Cummins, Inc. | 110 | 63696 | 1.27% |
| PACCAR, Inc. | 518 | 63687 | 1.27% |
| O'Reilly Automotive, Inc. | 646 | 63569 | 1.27% |
| Hershey Company (The) | 325 | 63309 | 1.27% |
| Casey's General Stores, Inc. | 104 | 62891 | 1.26% |
| Costco Wholesale Corporation | 67 | 62821 | 1.26% |
| Ecolab, Inc. | 222 | 62693 | 1.25% |
| Advanced Micro Devices, Inc. | 265 | 62653 | 1.25% |
| Sherwin-Williams Company (The) | 176 | 62463 | 1.25% |
| Williams-Sonoma, Inc. | 305 | 62444 | 1.25% |
| Caterpillar, Inc. | 95 | 62429 | 1.25% |
| Amgen, Inc. | 182 | 62371 | 1.25% |
| Estee Lauder Companies, Inc. (The) | 541 | 62363 | 1.25% |
| W. W. Grainger, Inc. | 58 | 62251 | 1.25% |
| Starbucks Corporation | 676 | 62154 | 1.24% |
| Jabil, Inc. | 262 | 62112 | 1.24% |

---

**CRM LONG/SHORT OPPORTUNITIES FUND**

**SCHEDULE OF INVESTMENTS (Continued)**

**January 31, 2026 (Unaudited)**

---

| | | | |
|:---|:---|:---|:---|
| **Reference Entity** | **Shares** | **Market Value** | **% of Total Index Value** |
| AT&T, Inc. | 2368 | $62063 | 1.24% |
| Westinghouse Air Brake Technologies Corporation | 270 | 62051 | 1.24% |
| Old Dominion Freight Line, Inc. | 357 | 61895 | 1.24% |
| Fastenal Company | 1422 | 61653 | 1.23% |
| Motorola Solutions, Inc. | 153 | 61547 | 1.23% |
| McDonald's Corporation | 195 | 61465 | 1.23% |
| Pfizer, Inc. | 2325 | 61463 | 1.23% |
| Hubbell, Inc. | 126 | 61334 | 1.23% |
| Cardinal Health, Inc. | 285 | 61196 | 1.22% |
| Hilton Worldwide Holdings, Inc. | 205 | 61119 | 1.22% |
| General Mills, Inc. | 1319 | 61003 | 1.22% |
| Rockwell Automation, Inc. | 145 | 60957 | 1.22% |
| United Parcel Service, Class B | 574 | 60932 | 1.22% |
| Darden Restaurants, Inc. | 304 | 60543 | 1.21% |
| Target Corporation | 573 | 60442 | 1.21% |
| Dollar General Corporation | 421 | 60406 | 1.21% |
| Cintas Corporation | 315 | 60382 | 1.21% |
| Ford Motor Company | 4344 | 60292 | 1.21% |
| Emerson Electric Company | 410 | 60194 | 1.20% |
| Ulta Beauty, Inc. | 93 | 60014 | 1.20% |
| Illumina, Inc. | 414 | 59952 | 1.20% |
| Boeing Company (The) | 256 | 59945 | 1.20% |
| Steris Corporation | 228 | 59844 | 1.20% |
| HCA Healthcare, Inc. | 122 | 59789 | 1.20% |
| Tractor Supply Company | 1174 | 59744 | 1.20% |
| Kroger Company (The) | 947 | 59515 | 1.19% |
| D.R. Horton, Inc. | 399 | 59454 | 1.19% |
| NVIDIA Corporation | 311 | 59447 | 1.19% |
| Ross Stores, Inc. | 313 | 59128 | 1.18% |
| General Motors Company | 704 | 59109 | 1.18% |
| McKesson Corporation | 71 | 58957 | 1.18% |
| Cognizant Technology Solutions Corporation | 717 | 58819 | 1.18% |
| Restaurant Brands International, Inc. | 877 | 58730 | 1.18% |
| Canadian Imperial Bank of Commerce | 631 | 58259 | 1.17% |
| International Paper Company (The) | 1444 | 58222 | 1.17% |
| Nokia Corporation, Class A | 9002 | 57881 | 1.16% |
| General Dynamics Corporation | 165 | 57775 | 1.16% |
| Tapestry, Inc. | 455 | 57773 | 1.16% |
| Ralph Lauren Corporation | 163 | 57677 | 1.15% |
| Moody's Corporation | 111 | 57254 | 1.15% |
| Progressive Corporation | 275 | 57159 | 1.14% |
| CyberArk Software Ltd. | 133 | 57102 | 1.14% |
| Apple, Inc. | 219 | 56808 | 1.14% |
| W. R. Berkley Corporation | 827 | 56748 | 1.14% |
| Allstate Corporation (The) | 285 | 56638 | 1.13% |
| Automatic Data Processing, Inc. | 227 | 56123 | 1.12% |
| Mettler-Toledo International, Inc. | 40 | 55543 | 1.11% |
| Waters Corporation | 148 | 54918 | 1.10% |
| Brookfield Corporation | 1199 | 54603 | 1.09% |
| CVS Health Corporation | 728 | 54218 | 1.09% |
| Carlyle Group, Inc. | 914 | 53713 | 1.07% |
| NetApp, Inc. | 557 | 53650 | 1.07% |
| Blackstone, Inc. | 360 | 51328 | 1.03% |

---

**CRM LONG/SHORT OPPORTUNITIES FUND**

**SCHEDULE OF INVESTMENTS (Continued)**

**January 31, 2026 (Unaudited)**

---

| | | | |
|:---|:---|:---|:---|
| **Reference Entity** | **Shares** | **Market Value** | **% of Total Index Value** |
| Lululemon Athletica, Inc. | 275 | $48070 | 0.96% |
| Coinbase Global, Inc., Class A | 230 | 44698 | 0.89% |
|  |  | $4996453 | 100.00% |

---

The following table represents the individual positions and related values of underlying securities of Morgan Stanley Custom Basket (MSCM1456) Index total return swap with Morgan Stanley Bank as of January 31, 2026, termination date 7/28/26:

---

| | | | |
|:---|:---|:---|:---|
| **Reference Entity** | **Shares** | **Market Value** | **% of Total Index Value** |
| Sysco Corporation | 1506 | $126274 | 2.51% |
| Western Digital Corporation | 501 | 125428 | 2.49% |
| Church & Dwight Company, Inc. | 1286 | 123761 | 2.46% |
| Anheuser-Busch InBev S.A. - ADR | 1725 | 123643 | 2.46% |
| Johnson & Johnson | 537 | 122025 | 2.43% |
| PepsiCo, Inc. | 791 | 121573 | 2.42% |
| Advanced Micro Devices, Inc. | 513 | 121446 | 2.42% |
| Constellation Brands, Inc. | 766 | 119954 | 2.39% |
| Hershey Company (The) | 613 | 119453 | 2.38% |
| AT&T, Inc. | 4518 | 118413 | 2.35% |
| Estee Lauder Companies, Inc. (The) | 1013 | 116782 | 2.32% |
| Teva Pharmaceutical Industries Ltd. - ADR | 3425 | 116711 | 2.32% |
| Jabil, Inc. | 490 | 116242 | 2.31% |
| Motorola Solutions, Inc. | 289 | 116163 | 2.31% |
| General Mills, Inc. | 2508 | 116035 | 2.31% |
| Sherwin-Williams Company (The) | 323 | 114669 | 2.28% |
| Pfizer, Inc. | 4324 | 114332 | 2.27% |
| Ecolab, Inc. | 405 | 114201 | 2.27% |
| Amgen, Inc. | 333 | 113865 | 2.26% |
| Cardinal Health, Inc. | 527 | 113340 | 2.25% |
| D.R. Horton, Inc. | 761 | 113267 | 2.25% |
| General Motors Company | 1338 | 112400 | 2.24% |
| NVIDIA Corporation | 587 | 112249 | 2.23% |
| Kroger Company (The) | 1781 | 111941 | 2.23% |
| Canadian Imperial Bank of Commerce | 1208 | 111632 | 2.22% |
| Steris Corporation | 423 | 111051 | 2.21% |
| HCA Healthcare, Inc. | 227 | 111026 | 2.21% |
| Ford Motor Company | 7968 | 110602 | 2.20% |
| McKesson Corporation | 133 | 110590 | 2.20% |
| Nokia Corporation, Class A | 16996 | 109285 | 2.17% |
| Apple, Inc. | 419 | 108757 | 2.16% |
| Illumina, Inc. | 747 | 108245 | 2.15% |
| W. R. Berkley Corporation | 1571 | 107749 | 2.14% |
| Progressive Corporation | 518 | 107712 | 2.14% |
| Cognizant Technology Solutions Corporation | 1300 | 106638 | 2.12% |
| Moody's Corporation | 206 | 106386 | 2.12% |
| CyberArk Software Ltd. | 244 | 105296 | 2.09% |
| Allstate Corporation (The) | 529 | 105242 | 2.09% |
| Brookfield Corporation | 2236 | 101869 | 2.03% |
| Waters Corporation | 275 | 101778 | 2.02% |
| Mettler-Toledo International, Inc. | 74 | 101678 | 2.02% |
| NetApp, Inc. | 1031 | 99372 | 1.98% |
| Carlyle Group, Inc. | 1675 | 98457 | 1.96% |
| Blackstone, Inc. | 676 | 96287 | 1.91% |

---

**CRM LONG/SHORT OPPORTUNITIES FUND**

**SCHEDULE OF INVESTMENTS (Continued)**

**January 31, 2026 (Unaudited)**

---

| | | | |
|:---|:---|:---|:---|
| **Reference Entity** | **Shares** | **Market Value** | **% of Total Index Value** |
| Coinbase Global, Inc., Class A | 439 | $85467 | 1.70% |
|  |  | $5029286 | 100.00% |

---

The following table represents the individual positions and related values of underlying securities of Morgan Stanley Custom Basket (MSCM1457) Index total return swap with Morgan Stanley Bank as of January 31, 2026, termination date 7/28/26:

---

| | | | |
|:---|:---|:---|:---|
| **Reference Entity** | **Shares** | **Market Value** | **% of Total Index Value** |
| Western Digital Corporation | 348 | $87102 | 1.70% |
| CH Robinson Worldwide, Inc. | 417 | 81352 | 1.59% |
| Sysco Corporation | 965 | 80892 | 1.58% |
| Church & Dwight Company, Inc. | 829 | 79837 | 1.56% |
| Anheuser-Busch InBev S.A. - ADR | 1102 | 78987 | 1.54% |
| Carrier Global Corporation | 1323 | 78854 | 1.54% |
| Advanced Micro Devices, Inc. | 331 | 78425 | 1.53% |
| PepsiCo, Inc. | 508 | 78016 | 1.52% |
| Constellation Brands, Inc. | 495 | 77604 | 1.51% |
| Caterpillar, Inc. | 117 | 76672 | 1.50% |
| Johnson & Johnson | 335 | 76202 | 1.49% |
| Estee Lauder Companies, Inc. (The) | 661 | 76192 | 1.49% |
| Eaton Corporation PLC | 216 | 75775 | 1.48% |
| O'Reilly Automotive, Inc. | 766 | 75366 | 1.47% |
| Hershey Company (The) | 386 | 75248 | 1.47% |
| Lowe's Companies, Inc. | 282 | 75190 | 1.47% |
| General Mills, Inc. | 1620 | 74938 | 1.46% |
| W. W. Grainger, Inc. | 69 | 74788 | 1.46% |
| Cummins, Inc. | 129 | 74712 | 1.46% |
| Home Depot, Inc. (The) | 199 | 74665 | 1.46% |
| Sherwin-Williams Company (The) | 210 | 74453 | 1.45% |
| D.R. Horton, Inc. | 499 | 74336 | 1.45% |
| Fastenal Company | 1713 | 74288 | 1.45% |
| Williams-Sonoma, Inc. | 363 | 74222 | 1.45% |
| PACCAR, Inc. | 603 | 74168 | 1.45% |
| Costco Wholesale Corporation | 79 | 74122 | 1.45% |
| Westinghouse Air Brake Technologies Corporation | 321 | 73918 | 1.44% |
| Starbucks Corporation | 803 | 73798 | 1.44% |
| Kroger Company (The) | 1174 | 73766 | 1.44% |
| Casey's General Stores, Inc. | 121 | 73565 | 1.44% |
| Teva Pharmaceutical Industries Ltd. - ADR | 2147 | 73184 | 1.43% |
| Ecolab, Inc. | 259 | 73004 | 1.43% |
| Pfizer, Inc. | 2752 | 72769 | 1.42% |
| Old Dominion Freight Line, Inc. | 420 | 72716 | 1.42% |
| Hubbell, Inc. | 149 | 72509 | 1.42% |
| Cardinal Health, Inc. | 336 | 72158 | 1.41% |
| McDonald's Corporation | 229 | 72056 | 1.41% |
| Emerson Electric Company | 489 | 71930 | 1.40% |
| Rockwell Automation, Inc. | 170 | 71668 | 1.40% |
| General Motors Company | 849 | 71351 | 1.39% |
| Cintas Corporation | 373 | 71324 | 1.39% |
| Boeing Company (The) | 305 | 71284 | 1.39% |
| Tractor Supply Company | 1395 | 70957 | 1.39% |
| International Paper Company (The) | 1759 | 70913 | 1.38% |
| Target Corporation | 671 | 70784 | 1.38% |

---

**CRM LONG/SHORT OPPORTUNITIES FUND**

**SCHEDULE OF INVESTMENTS (Continued)**

**January 31, 2026 (Unaudited)**

---

| | | | |
|:---|:---|:---|:---|
| **Reference Entity** | **Shares** | **Market Value** | **% of Total Index Value** |
| Hilton Worldwide Holdings, Inc. | 237 | $70764 | 1.38% |
| General Dynamics Corporation | 201 | 70673 | 1.38% |
| Steris Corporation | 268 | 70489 | 1.38% |
| NVIDIA Corporation | 368 | 70319 | 1.37% |
| Canadian Imperial Bank of Commerce | 761 | 70291 | 1.37% |
| Ford Motor Company | 5064 | 70285 | 1.37% |
| Ross Stores, Inc. | 372 | 70194 | 1.37% |
| McKesson Corporation | 84 | 70189 | 1.37% |
| United Parcel Service, Class B | 660 | 70111 | 1.37% |
| Dollar General Corporation | 485 | 69537 | 1.36% |
| Darden Restaurants, Inc. | 348 | 69430 | 1.36% |
| Apple, Inc. | 267 | 69349 | 1.35% |
| Restaurant Brands International, Inc. | 1031 | 69091 | 1.35% |
| Ulta Beauty, Inc. | 106 | 68727 | 1.34% |
| Ralph Lauren Corporation | 193 | 68124 | 1.33% |
| Moody's Corporation | 131 | 67497 | 1.32% |
| Tapestry, Inc. | 531 | 67419 | 1.32% |
| Brookfield Corporation | 1476 | 67244 | 1.31% |
| Nokia Corporation, Class A | 10247 | 65887 | 1.29% |
| Automatic Data Processing, Inc. | 266 | 65730 | 1.28% |
| CVS Health Corporation | 872 | 64981 | 1.27% |
| Blackstone, Inc. | 453 | 64516 | 1.26% |
| Carlyle Group, Inc. | 1092 | 64192 | 1.25% |
| CyberArk Software Ltd. | 149 | 64075 | 1.25% |
| Lululemon Athletica, Inc. | 329 | 57345 | 1.12% |
| Coinbase Global, Inc., Class A | 283 | 55094 | 1.08% |
|  |  | $5121613 | 100.00% |

---

The following table represents the individual positions and related values of underlying securities of Morgan Stanley Custom Basket (MSCM1458) Index total return swap with Morgan Stanley Bank as of January 31, 2026, termination date 7/28/26:

---

| | | | |
|:---|:---|:---|:---|
| **Reference Entity** | **Shares** | **Market Value** | **% of Total Index Value** |
| Sysco Corporation | 2144 | $179750 | 3.56% |
| Church & Dwight Company, Inc. | 1854 | 178479 | 3.54% |
| Anheuser-Busch InBev S.A. - ADR | 2462 | 176498 | 3.50% |
| Johnson & Johnson | 774 | 175850 | 3.48% |
| PepsiCo, Inc. | 1142 | 175503 | 3.48% |
| Cardinal Health, Inc. | 786 | 168955 | 3.35% |
| Constellation Brands, Inc. | 1076 | 168618 | 3.34% |
| Hershey Company (The) | 862 | 167831 | 3.32% |
| Motorola Solutions, Inc. | 417 | 167822 | 3.32% |
| General Mills, Inc. | 3625 | 167696 | 3.32% |
| Kroger Company (The) | 2663 | 167361 | 3.31% |
| Teva Pharmaceutical Industries Ltd. - ADR | 4897 | 166902 | 3.31% |
| Pfizer, Inc. | 6295 | 166453 | 3.30% |
| Estee Lauder Companies, Inc. (The) | 1444 | 166447 | 3.30% |
| Sherwin-Williams Company (The) | 467 | 165567 | 3.28% |
| Ecolab, Inc. | 586 | 165218 | 3.27% |
| NVIDIA Corporation | 860 | 164453 | 3.26% |
| McKesson Corporation | 195 | 162453 | 3.22% |
| D.R. Horton, Inc. | 1091 | 162421 | 3.22% |
| Canadian Imperial Bank of Commerce | 1736 | 160428 | 3.18% |

---

**CRM LONG/SHORT OPPORTUNITIES FUND**

**SCHEDULE OF INVESTMENTS (Continued)**

**January 31, 2026 (Unaudited)**

---

| | | | |
|:---|:---|:---|:---|
| **Reference Entity** | **Shares** | **Market Value** | **% of Total Index Value** |
| Nokia Corporation, Class A | 24532 | $157741 | 3.12% |
| General Motors Company | 1870 | 157100 | 3.11% |
| W. R. Berkley Corporation | 2267 | 155450 | 3.08% |
| Progressive Corporation | 747 | 155366 | 3.08% |
| Moody's Corporation | 300 | 154534 | 3.06% |
| Brookfield Corporation | 3370 | 153517 | 3.04% |
| Ford Motor Company | 11056 | 153464 | 3.04% |
| Allstate Corporation (The) | 754 | 150079 | 2.97% |
| Blackstone, Inc. | 1025 | 146008 | 2.89% |
| NetApp, Inc. | 1508 | 145335 | 2.88% |
| Carlyle Group, Inc. | 2462 | 144690 | 2.87% |
|  |  | $5047989 | 100.00% |

---

The following table represents the individual positions and related values of underlying securities of Morgan Stanley Custom Basket (MSCM1459) Index total return swap with Morgan Stanley Bank as of January 31, 2026, termination date 7/28/26:

---

| | | | |
|:---|:---|:---|:---|
| **Reference Entity** | **Shares** | **Market Value** | **% of Total Index Value** |
| Western Digital Corporation | 313 | $78359 | 1.56% |
| Advanced Micro Devices, Inc. | 309 | 73142 | 1.45% |
| CH Robinson Worldwide, Inc. | 368 | 71662 | 1.42% |
| Sysco Corporation | 845 | 70861 | 1.41% |
| Church & Dwight Company, Inc. | 732 | 70435 | 1.40% |
| Johnson & Johnson | 307 | 69794 | 1.39% |
| PepsiCo, Inc. | 449 | 68929 | 1.37% |
| Anheuser-Busch InBev S.A. - ADR | 953 | 68300 | 1.36% |
| Eaton Corporation PLC | 193 | 67979 | 1.35% |
| Cardinal Health, Inc. | 312 | 67071 | 1.33% |
| Constellation Brands, Inc. | 427 | 66916 | 1.33% |
| Teva Pharmaceutical Industries Ltd. - ADR | 1961 | 66833 | 1.33% |
| Caterpillar, Inc. | 102 | 66812 | 1.33% |
| Carrier Global Corporation | 1116 | 66490 | 1.32% |
| Kroger Company (The) | 1055 | 66297 | 1.32% |
| Motorola Solutions, Inc. | 164 | 65952 | 1.31% |
| O'Reilly Automotive, Inc. | 669 | 65858 | 1.31% |
| Jabil, Inc. | 278 | 65838 | 1.31% |
| W. W. Grainger, Inc. | 61 | 65828 | 1.31% |
| Cummins, Inc. | 114 | 65813 | 1.31% |
| Ecolab, Inc. | 231 | 65144 | 1.30% |
| Pfizer, Inc. | 2464 | 65138 | 1.30% |
| General Mills, Inc. | 1407 | 65110 | 1.29% |
| Hubbell, Inc. | 133 | 65096 | 1.29% |
| PACCAR, Inc. | 528 | 64945 | 1.29% |
| Starbucks Corporation | 706 | 64942 | 1.29% |
| NVIDIA Corporation | 340 | 64902 | 1.29% |
| Fastenal Company | 1495 | 64837 | 1.29% |
| Hershey Company (The) | 332 | 64659 | 1.29% |
| Williams-Sonoma, Inc. | 315 | 64543 | 1.28% |
| Rockwell Automation, Inc. | 153 | 64474 | 1.28% |
| Illumina, Inc. | 445 | 64438 | 1.28% |
| Westinghouse Air Brake Technologies Corporation | 280 | 64373 | 1.28% |
| McDonald's Corporation | 204 | 64342 | 1.28% |
| Steris Corporation | 244 | 64186 | 1.28% |

---

**CRM LONG/SHORT OPPORTUNITIES FUND**

**SCHEDULE OF INVESTMENTS (Continued)**

**January 31, 2026 (Unaudited)**

---

| | | | |
|:---|:---|:---|:---|
| **Reference Entity** | **Shares** | **Market Value** | **% of Total Index Value** |
| Casey's General Stores, Inc. | 106 | $64116 | 1.27% |
| Emerson Electric Company | 435 | 63975 | 1.27% |
| McKesson Corporation | 77 | 63939 | 1.27% |
| Canadian Imperial Bank of Commerce | 692 | 63908 | 1.27% |
| Costco Wholesale Corporation | 68 | 63817 | 1.27% |
| General Motors Company | 757 | 63629 | 1.27% |
| Estee Lauder Companies, Inc. (The) | 552 | 63629 | 1.27% |
| Dollar General Corporation | 440 | 63077 | 1.25% |
| Sherwin-Williams Company (The) | 178 | 63015 | 1.25% |
| W. R. Berkley Corporation | 917 | 62902 | 1.25% |
| Apple, Inc. | 242 | 62800 | 1.25% |
| Old Dominion Freight Line, Inc. | 363 | 62799 | 1.25% |
| Home Depot, Inc. (The) | 168 | 62765 | 1.25% |
| Target Corporation | 595 | 62744 | 1.25% |
| Lowe's Companies, Inc. | 235 | 62738 | 1.25% |
| Boeing Company (The) | 268 | 62557 | 1.24% |
| Hilton Worldwide Holdings, Inc. | 209 | 62387 | 1.24% |
| Nokia Corporation, Class A | 9687 | 62289 | 1.24% |
| General Dynamics Corporation | 177 | 62277 | 1.24% |
| Cintas Corporation | 325 | 62211 | 1.24% |
| Tractor Supply Company | 1219 | 62006 | 1.23% |
| Ross Stores, Inc. | 328 | 61858 | 1.23% |
| Darden Restaurants, Inc. | 310 | 61840 | 1.23% |
| United Parcel Service, Class B | 581 | 61704 | 1.23% |
| J.B. Hunt Transport Services, Inc. | 303 | 61520 | 1.22% |
| Ford Motor Company | 4421 | 61359 | 1.22% |
| Ulta Beauty, Inc. | 94 | 61000 | 1.21% |
| Restaurant Brands International, Inc. | 910 | 60945 | 1.21% |
| Moody's Corporation | 118 | 60878 | 1.21% |
| Progressive Corporation | 292 | 60684 | 1.21% |
| Brookfield Corporation | 1317 | 59994 | 1.19% |
| Ralph Lauren Corporation | 170 | 59990 | 1.19% |
| D.R. Horton, Inc. | 399 | 59405 | 1.18% |
| Tapestry, Inc. | 467 | 59297 | 1.18% |
| CyberArk Software Ltd. | 137 | 59214 | 1.18% |
| Allstate Corporation (The) | 296 | 58863 | 1.17% |
| International Paper Company (The) | 1448 | 58399 | 1.16% |
| CVS Health Corporation | 782 | 58255 | 1.16% |
| Automatic Data Processing, Inc. | 236 | 58243 | 1.16% |
| Mettler-Toledo International, Inc. | 42 | 58044 | 1.15% |
| NetApp, Inc. | 596 | 57389 | 1.14% |
| Blackstone, Inc. | 398 | 56720 | 1.13% |
| Carlyle Group, Inc. | 960 | 56411 | 1.12% |
| Lululemon Athletica, Inc. | 308 | 53722 | 1.07% |
|  |  | $5029612 | 100.00% |

---

**CRM LONG/SHORT OPPORTUNITIES FUND**

**SCHEDULE OF INVESTMENTS (Continued)**

**January 31, 2026 (Unaudited)**

The following table represents the individual positions and related values of underlying securities of Morgan Stanley Custom Basket (MSCM1460) Index total return swap with Morgan Stanley Bank as of January 31, 2026, termination date 7/28/26:

---

| | | | |
|:---|:---|:---|:---|
| **Reference Entity** | **Shares** | **Market Value** | **% of Total Index Value** |
| Western Digital Corporation | 360 | $90109 | 1.79% |
| Advanced Micro Devices, Inc. | 368 | 87074 | 1.73% |
| CH Robinson Worldwide, Inc. | 443 | 86314 | 1.72% |
| Sysco Corporation | 1028 | 86176 | 1.71% |
| Church & Dwight Company, Inc. | 882 | 84846 | 1.69% |
| AT&T, Inc. | 3218 | 84341 | 1.68% |
| PepsiCo, Inc. | 540 | 83023 | 1.65% |
| Johnson & Johnson | 364 | 82778 | 1.65% |
| Carrier Global Corporation | 1379 | 82186 | 1.64% |
| Anheuser-Busch InBev S.A. - ADR | 1145 | 82047 | 1.63% |
| Eaton Corporation PLC | 232 | 81573 | 1.62% |
| General Mills, Inc. | 1757 | 81277 | 1.62% |
| Cardinal Health, Inc. | 377 | 81055 | 1.61% |
| Amgen, Inc. | 235 | 80227 | 1.60% |
| Pfizer, Inc. | 3023 | 79929 | 1.59% |
| W. W. Grainger, Inc. | 74 | 79917 | 1.59% |
| Motorola Solutions, Inc. | 198 | 79740 | 1.59% |
| Caterpillar, Inc. | 121 | 79739 | 1.59% |
| Ecolab, Inc. | 282 | 79490 | 1.58% |
| Fastenal Company | 1832 | 79433 | 1.58% |
| Teva Pharmaceutical Industries Ltd. - ADR | 2330 | 79398 | 1.58% |
| PACCAR, Inc. | 645 | 79262 | 1.58% |
| NVIDIA Corporation | 413 | 78949 | 1.57% |
| Constellation Brands, Inc. | 503 | 78848 | 1.57% |
| Hubbell, Inc. | 162 | 78825 | 1.57% |
| Cummins, Inc. | 136 | 78653 | 1.56% |
| HCA Healthcare, Inc. | 161 | 78639 | 1.56% |
| Jabil, Inc. | 331 | 78582 | 1.56% |
| Kroger Company (The) | 1250 | 78567 | 1.56% |
| Estee Lauder Companies, Inc. (The) | 676 | 77920 | 1.55% |
| Rockwell Automation, Inc. | 184 | 77780 | 1.55% |
| Westinghouse Air Brake Technologies Corporation | 337 | 77627 | 1.54% |
| General Motors Company | 921 | 77406 | 1.54% |
| Emerson Electric Company | 526 | 77233 | 1.54% |
| Canadian Imperial Bank of Commerce | 836 | 77194 | 1.54% |
| Hershey Company (The) | 396 | 77033 | 1.53% |
| Steris Corporation | 293 | 76928 | 1.53% |
| McKesson Corporation | 93 | 76910 | 1.53% |
| W. R. Berkley Corporation | 1112 | 76248 | 1.52% |
| Old Dominion Freight Line, Inc. | 440 | 76230 | 1.52% |
| Apple, Inc. | 294 | 76166 | 1.52% |
| Illumina, Inc. | 525 | 76004 | 1.51% |
| Sherwin-Williams Company (The) | 214 | 75754 | 1.51% |
| Cintas Corporation | 396 | 75743 | 1.51% |
| Ford Motor Company | 5445 | 75576 | 1.50% |
| United Parcel Service, Class B | 707 | 75112 | 1.49% |
| Nokia Corporation, Class A | 11610 | 74651 | 1.49% |
| Boeing Company (The) | 319 | 74452 | 1.48% |
| United Therapeutics Corporation | 158 | 74349 | 1.48% |

---

**CRM LONG/SHORT OPPORTUNITIES FUND**

**SCHEDULE OF INVESTMENTS (Continued)**

**January 31, 2026 (Unaudited)**

---

| | | | |
|:---|:---|:---|:---|
| **Reference Entity** | **Shares** | **Market Value** | **% of Total Index Value** |
| General Dynamics Corporation | 212 | $74308 | 1.48% |
| Moody's Corporation | 143 | 73600 | 1.46% |
| Cognizant Technology Solutions Corporation | 896 | 73551 | 1.46% |
| Progressive Corporation | 353 | 73393 | 1.46% |
| Allstate Corporation (The) | 366 | 72852 | 1.45% |
| International Paper Company (The) | 1803 | 72713 | 1.45% |
| Brookfield Corporation | 1595 | 72675 | 1.45% |
| CyberArk Software Ltd. | 167 | 72041 | 1.43% |
| Waters Corporation | 194 | 71937 | 1.43% |
| Automatic Data Processing, Inc. | 291 | 71747 | 1.43% |
| D.R. Horton, Inc. | 478 | 71193 | 1.42% |
| Mettler-Toledo International, Inc. | 51 | 70312 | 1.40% |
| Blackstone, Inc. | 488 | 69484 | 1.38% |
| NetApp, Inc. | 714 | 68770 | 1.37% |
| Carlyle Group, Inc. | 1161 | 68232 | 1.36% |
| Coinbase Global, Inc., Class A | 314 | 61226 | 1.22% |
|  |  | $5025347 | 100.00% |

---

The following table represents the individual positions and related values of underlying securities of Morgan Stanley Custom Basket (MSCM1461) Index total return swap with Morgan Stanley Bank as of January 31, 2026, termination date 7/28/26:

---

| | | | |
|:---|:---|:---|:---|
| **Reference Entity** | **Shares** | **Market Value** | **% of Total Index Value** |
| Western Digital Corporation | 362 | $90604 | 1.83% |
| AT&T, Inc. | 3326 | 87163 | 1.76% |
| Sysco Corporation | 1019 | 85422 | 1.73% |
| Church & Dwight Company, Inc. | 881 | 84779 | 1.72% |
| Advanced Micro Devices, Inc. | 351 | 83012 | 1.68% |
| PepsiCo, Inc. | 540 | 82967 | 1.68% |
| Johnson & Johnson | 363 | 82418 | 1.67% |
| Anheuser-Busch InBev S.A. - ADR | 1141 | 81812 | 1.66% |
| Amgen, Inc. | 239 | 81686 | 1.65% |
| Pfizer, Inc. | 3081 | 81460 | 1.65% |
| Teva Pharmaceutical Industries Ltd. - ADR | 2386 | 81328 | 1.65% |
| General Mills, Inc. | 1750 | 80969 | 1.64% |
| O'Reilly Automotive, Inc. | 819 | 80581 | 1.63% |
| Cardinal Health, Inc. | 372 | 79949 | 1.62% |
| Ecolab, Inc. | 283 | 79880 | 1.62% |
| Motorola Solutions, Inc. | 198 | 79773 | 1.61% |
| NVIDIA Corporation | 417 | 79704 | 1.61% |
| Constellation Brands, Inc. | 506 | 79277 | 1.60% |
| Kroger Company (The) | 1261 | 79226 | 1.60% |
| HCA Healthcare, Inc. | 162 | 78933 | 1.60% |
| McDonald's Corporation | 250 | 78878 | 1.60% |
| Starbucks Corporation | 856 | 78675 | 1.59% |
| Progressive Corporation | 378 | 78597 | 1.59% |
| Steris Corporation | 298 | 78300 | 1.59% |
| General Motors Company | 931 | 78193 | 1.58% |
| McKesson Corporation | 94 | 78166 | 1.58% |
| W. R. Berkley Corporation | 1139 | 78147 | 1.58% |
| Canadian Imperial Bank of Commerce | 846 | 78120 | 1.58% |
| Allstate Corporation (The) | 392 | 78011 | 1.58% |
| Casey's General Stores, Inc. | 128 | 77726 | 1.57% |

---

**CRM LONG/SHORT OPPORTUNITIES FUND**

**SCHEDULE OF INVESTMENTS (Continued)**

**January 31, 2026 (Unaudited)**

---

| | | | |
|:---|:---|:---|:---|
| **Reference Entity** | **Shares** | **Market Value** | **% of Total Index Value** |
| Estee Lauder Companies, Inc. (The) | 672 | $77426 | 1.57% |
| Costco Wholesale Corporation | 82 | 77348 | 1.57% |
| Hershey Company (The) | 397 | 77272 | 1.56% |
| Sherwin-Williams Company (The) | 218 | 77192 | 1.56% |
| Jabil, Inc. | 325 | 77109 | 1.56% |
| Hilton Worldwide Holdings, Inc. | 258 | 76942 | 1.56% |
| Ford Motor Company | 5543 | 76932 | 1.56% |
| Home Depot, Inc. (The) | 204 | 76435 | 1.55% |
| Nokia Corporation, Class A | 11884 | 76416 | 1.55% |
| Illumina, Inc. | 527 | 76337 | 1.55% |
| United Therapeutics Corporation | 162 | 76288 | 1.54% |
| Williams-Sonoma, Inc. | 372 | 76209 | 1.54% |
| Tractor Supply Company | 1497 | 76169 | 1.54% |
| Ross Stores, Inc. | 401 | 75649 | 1.53% |
| Lowe's Companies, Inc. | 283 | 75455 | 1.53% |
| Ulta Beauty, Inc. | 117 | 75448 | 1.53% |
| Cognizant Technology Solutions Corporation | 917 | 75275 | 1.52% |
| Target Corporation | 713 | 75232 | 1.52% |
| Restaurant Brands International, Inc. | 1119 | 74946 | 1.52% |
| Ralph Lauren Corporation | 212 | 74798 | 1.51% |
| Darden Restaurants, Inc. | 375 | 74785 | 1.51% |
| Albemarle Corporation | 438 | 74748 | 1.51% |
| Brookfield Corporation | 1639 | 74635 | 1.51% |
| Dollar General Corporation | 512 | 73480 | 1.49% |
| Tapestry, Inc. | 577 | 73179 | 1.48% |
| CyberArk Software Ltd. | 168 | 72465 | 1.47% |
| D.R. Horton, Inc. | 482 | 71700 | 1.45% |
| Mettler-Toledo International, Inc. | 52 | 71665 | 1.45% |
| CVS Health Corporation | 960 | 71570 | 1.45% |
| Blackstone, Inc. | 499 | 71082 | 1.44% |
| NetApp, Inc. | 722 | 69591 | 1.41% |
| Carlyle Group, Inc. | 1183 | 69547 | 1.41% |
| Lululemon Athletica, Inc. | 366 | 63810 | 1.29% |
| Coinbase Global, Inc., Class A | 307 | 59716 | 1.21% |
|  |  | $4940607 | 100.00% |

---

The following table represents the individual positions and related values of underlying securities of Morgan Stanley Custom Basket (MSCM1462) Index total return swap with Morgan Stanley Bank as of January 31, 2026, termination date 7/28/26:

---

| | | | |
|:---|:---|:---|:---|
| **Reference Entity** | **Shares** | **Market Value** | **% of Total Index Value** |
| Western Digital Corporation | 356 | $89102 | 1.80% |
| AT&T, Inc. | 3243 | 84988 | 1.72% |
| Sysco Corporation | 993 | 83249 | 1.69% |
| Church & Dwight Company, Inc. | 849 | 81728 | 1.65% |
| Advanced Micro Devices, Inc. | 342 | 81052 | 1.64% |
| PepsiCo, Inc. | 525 | 80602 | 1.63% |
| Teva Pharmaceutical Industries Ltd. - ADR | 2345 | 79934 | 1.62% |
| NVIDIA Corporation | 418 | 79897 | 1.62% |
| Anheuser-Busch InBev S.A. - ADR | 1113 | 79773 | 1.61% |
| Johnson & Johnson | 350 | 79604 | 1.61% |
| Amgen, Inc. | 233 | 79561 | 1.61% |
| O'Reilly Automotive, Inc. | 806 | 79288 | 1.61% |
| Motorola Solutions, Inc. | 197 | 79175 | 1.60% |

---

**CRM LONG/SHORT OPPORTUNITIES FUND**

**SCHEDULE OF INVESTMENTS (Continued)**

**January 31, 2026 (Unaudited)**

---

| | | | |
|:---|:---|:---|:---|
| **Reference Entity** | **Shares** | **Market Value** | **% of Total Index Value** |
| General Motors Company | 942 | $79168 | 1.60% |
| Pfizer, Inc. | 2993 | 79131 | 1.60% |
| Ecolab, Inc. | 278 | 78318 | 1.59% |
| McDonald's Corporation | 248 | 78264 | 1.58% |
| HCA Healthcare, Inc. | 160 | 78065 | 1.58% |
| Allstate Corporation (The) | 391 | 77717 | 1.57% |
| General Mills, Inc. | 1678 | 77631 | 1.57% |
| Progressive Corporation | 373 | 77488 | 1.57% |
| Nokia Corporation, Class A | 12037 | 77399 | 1.57% |
| Canadian Imperial Bank of Commerce | 837 | 77335 | 1.57% |
| Starbucks Corporation | 840 | 77229 | 1.56% |
| Kroger Company (The) | 1226 | 77035 | 1.56% |
| Cardinal Health, Inc. | 358 | 77030 | 1.56% |
| Illumina, Inc. | 532 | 77004 | 1.56% |
| Ford Motor Company | 5532 | 76778 | 1.55% |
| Constellation Brands, Inc. | 490 | 76723 | 1.55% |
| Sherwin-Williams Company (The) | 216 | 76620 | 1.55% |
| Apple, Inc. | 294 | 76416 | 1.55% |
| McKesson Corporation | 92 | 76286 | 1.54% |
| Home Depot, Inc. (The) | 204 | 76280 | 1.54% |
| Hilton Worldwide Holdings, Inc. | 255 | 76144 | 1.54% |
| Tractor Supply Company | 1496 | 76138 | 1.54% |
| Steris Corporation | 290 | 76079 | 1.54% |
| W. R. Berkley Corporation | 1107 | 75893 | 1.54% |
| Williams-Sonoma, Inc. | 370 | 75816 | 1.53% |
| Costco Wholesale Corporation | 81 | 75693 | 1.53% |
| United Therapeutics Corporation | 161 | 75553 | 1.53% |
| Estee Lauder Companies, Inc. (The) | 655 | 75489 | 1.53% |
| Casey's General Stores, Inc. | 124 | 75340 | 1.53% |
| Ross Stores, Inc. | 399 | 75288 | 1.52% |
| Jabil, Inc. | 317 | 75240 | 1.52% |
| Hershey Company (The) | 384 | 74877 | 1.52% |
| Ulta Beauty, Inc. | 115 | 74655 | 1.51% |
| Ralph Lauren Corporation | 211 | 74563 | 1.51% |
| Lowe's Companies, Inc. | 278 | 74360 | 1.51% |
| Brookfield Corporation | 1620 | 73771 | 1.49% |
| Albemarle Corporation | 431 | 73573 | 1.49% |
| Target Corporation | 697 | 73524 | 1.49% |
| Darden Restaurants, Inc. | 368 | 73419 | 1.49% |
| Restaurant Brands International, Inc. | 1096 | 73391 | 1.49% |
| Tapestry, Inc. | 575 | 72958 | 1.48% |
| Dollar General Corporation | 507 | 72743 | 1.47% |
| Cognizant Technology Solutions Corporation | 883 | 72460 | 1.47% |
| Waters Corporation | 195 | 72180 | 1.46% |
| CVS Health Corporation | 965 | 71915 | 1.46% |
| D.R. Horton, Inc. | 481 | 71530 | 1.45% |
| CyberArk Software Ltd. | 166 | 71437 | 1.45% |
| Blackstone, Inc. | 482 | 68699 | 1.39% |
| Carlyle Group, Inc. | 1168 | 68640 | 1.39% |
| NetApp, Inc. | 711 | 68508 | 1.39% |
| Lululemon Athletica, Inc. | 377 | 65763 | 1.33% |
| Coinbase Global, Inc., Class A | 299 | 58269 | 1.18% |
|  |  | $4939778 | 100.00% |

---

**CRM LONG/SHORT OPPORTUNITIES FUND**

**SCHEDULE OF INVESTMENTS (Continued)**

**January 31, 2026 (Unaudited)**

The following table represents the individual positions and related values of underlying securities of Morgan Stanley Custom Basket (MSCM1463) Index total return swap with Morgan Stanley Bank as of January 31, 2026, termination date 7/28/26:

---

| | | | |
|:---|:---|:---|:---|
| **Reference Entity** | **Shares** | **Market Value** | **% of Total Index Value** |
| Western Digital Corporation | 261 | $65219 | 1.31% |
| CH Robinson Worldwide, Inc. | 330 | 64365 | 1.29% |
| AT&T, Inc. | 2439 | 63937 | 1.28% |
| Carrier Global Corporation | 1042 | 62087 | 1.25% |
| Church & Dwight Company, Inc. | 640 | 61613 | 1.24% |
| Sysco Corporation | 731 | 61302 | 1.23% |
| Eaton Corporation PLC | 174 | 61005 | 1.23% |
| Teva Pharmaceutical Industries Ltd. - ADR | 1789 | 60983 | 1.23% |
| O'Reilly Automotive, Inc. | 618 | 60836 | 1.22% |
| PepsiCo, Inc. | 395 | 60676 | 1.22% |
| Anheuser-Busch InBev S.A. - ADR | 842 | 60381 | 1.21% |
| Advanced Micro Devices, Inc. | 254 | 60125 | 1.21% |
| General Motors Company | 715 | 60098 | 1.21% |
| Amgen, Inc. | 175 | 59966 | 1.20% |
| Johnson & Johnson | 264 | 59912 | 1.20% |
| Progressive Corporation | 284 | 59162 | 1.19% |
| NVIDIA Corporation | 309 | 59150 | 1.19% |
| Pfizer, Inc. | 2236 | 59117 | 1.19% |
| McDonald's Corporation | 188 | 59084 | 1.19% |
| Motorola Solutions, Inc. | 147 | 59076 | 1.19% |
| Allstate Corporation (The) | 296 | 58930 | 1.18% |
| Caterpillar, Inc. | 89 | 58798 | 1.18% |
| W. W. Grainger, Inc. | 54 | 58793 | 1.18% |
| Ecolab, Inc. | 208 | 58775 | 1.18% |
| General Mills, Inc. | 1269 | 58725 | 1.18% |
| HCA Healthcare, Inc. | 120 | 58422 | 1.17% |
| PACCAR, Inc. | 475 | 58357 | 1.17% |
| Hubbell, Inc. | 120 | 58345 | 1.17% |
| Westinghouse Air Brake Technologies Corporation | 253 | 58298 | 1.17% |
| Cummins, Inc. | 101 | 58288 | 1.17% |
| Cardinal Health, Inc. | 271 | 58272 | 1.17% |
| Kroger Company (The) | 926 | 58221 | 1.17% |
| Ford Motor Company | 4192 | 58181 | 1.17% |
| Apple, Inc. | 224 | 58172 | 1.17% |
| Canadian Imperial Bank of Commerce | 629 | 58108 | 1.17% |
| Tractor Supply Company | 1141 | 58059 | 1.17% |
| Rockwell Automation, Inc. | 137 | 57959 | 1.16% |
| W. R. Berkley Corporation | 842 | 57778 | 1.16% |
| Estee Lauder Companies, Inc. (The) | 501 | 57702 | 1.16% |
| Illumina, Inc. | 398 | 57692 | 1.16% |
| Fastenal Company | 1330 | 57661 | 1.16% |
| Sherwin-Williams Company (The) | 163 | 57645 | 1.16% |
| United Therapeutics Corporation | 123 | 57581 | 1.16% |
| Emerson Electric Company | 391 | 57473 | 1.15% |
| Hilton Worldwide Holdings, Inc. | 192 | 57245 | 1.15% |
| Home Depot, Inc. (The) | 153 | 57190 | 1.15% |
| Constellation Brands, Inc. | 365 | 57140 | 1.15% |
| Starbucks Corporation | 621 | 57062 | 1.15% |
| McKesson Corporation | 69 | 57001 | 1.15% |

---

**CRM LONG/SHORT OPPORTUNITIES FUND**

**SCHEDULE OF INVESTMENTS (Continued)**

**January 31, 2026 (Unaudited)**

---

| | | | |
|:---|:---|:---|:---|
| **Reference Entity** | **Shares** | **Market Value** | **% of Total Index Value** |
| Costco Wholesale Corporation | 61 | $56889 | 1.14% |
| Albemarle Corporation | 333 | 56838 | 1.14% |
| J.B. Hunt Transport Services, Inc. | 280 | 56822 | 1.14% |
| Steris Corporation | 216 | 56666 | 1.14% |
| Cintas Corporation | 296 | 56647 | 1.14% |
| United Parcel Service, Class B | 533 | 56608 | 1.14% |
| Williams-Sonoma, Inc. | 276 | 56413 | 1.13% |
| Ross Stores, Inc. | 299 | 56352 | 1.13% |
| Ulta Beauty, Inc. | 87 | 56342 | 1.13% |
| Nokia Corporation, Class A | 8758 | 56311 | 1.13% |
| Old Dominion Freight Line, Inc. | 325 | 56260 | 1.13% |
| Hershey Company (The) | 288 | 56068 | 1.13% |
| Cognizant Technology Solutions Corporation | 682 | 56004 | 1.13% |
| Lowe's Companies, Inc. | 209 | 55808 | 1.12% |
| Restaurant Brands International, Inc. | 833 | 55773 | 1.12% |
| Brookfield Corporation | 1223 | 55710 | 1.12% |
| Ralph Lauren Corporation | 157 | 55419 | 1.11% |
| Moody's Corporation | 107 | 55307 | 1.11% |
| Tapestry, Inc. | 435 | 55212 | 1.11% |
| General Dynamics Corporation | 157 | 55124 | 1.11% |
| Casey's General Stores, Inc. | 91 | 55084 | 1.11% |
| CyberArk Software Ltd. | 128 | 54975 | 1.10% |
| Target Corporation | 521 | 54939 | 1.10% |
| Automatic Data Processing, Inc. | 222 | 54911 | 1.10% |
| Dollar General Corporation | 382 | 54721 | 1.10% |
| Boeing Company (The) | 234 | 54611 | 1.10% |
| Waters Corporation | 147 | 54386 | 1.09% |
| Jabil, Inc. | 229 | 54231 | 1.09% |
| Darden Restaurants, Inc. | 270 | 53842 | 1.08% |
| D.R. Horton, Inc. | 360 | 53515 | 1.07% |
| International Paper Company (The) | 1326 | 53459 | 1.07% |
| Mettler-Toledo International, Inc. | 39 | 53116 | 1.07% |
| CVS Health Corporation | 711 | 53021 | 1.07% |
| Carlyle Group, Inc. | 875 | 51461 | 1.03% |
| NetApp, Inc. | 534 | 51452 | 1.03% |
| Blackstone, Inc. | 360 | 51267 | 1.03% |
| Lululemon Athletica, Inc. | 282 | 49272 | 0.99% |
| Coinbase Global, Inc., Class A | 242 | 47112 | 0.95% |
|  |  | $4977915 | 100.00% |

---

The following table represents the individual positions and related values of underlying securities of Morgan Stanley Custom Basket (MSCM1464) Index total return swap with Morgan Stanley Bank as of January 31, 2026, termination date 7/28/26:

---

| | | | |
|:---|:---|:---|:---|
| **Reference Entity** | **Shares** | **Market Value** | **% of Total Index Value** |
| Western Digital Corporation | 349 | $87451 | 1.75% |
| AT&T, Inc. | 3296 | 86378 | 1.73% |
| Teva Pharmaceutical Industries Ltd. - ADR | 2437 | 83069 | 1.67% |
| Sysco Corporation | 982 | 82375 | 1.65% |
| Church & Dwight Company, Inc. | 854 | 82232 | 1.65% |
| PepsiCo, Inc. | 529 | 81281 | 1.63% |
| Anheuser-Busch InBev S.A. - ADR | 1129 | 80925 | 1.62% |
| HCA Healthcare, Inc. | 165 | 80545 | 1.61% |

---

**CRM LONG/SHORT OPPORTUNITIES FUND**

**SCHEDULE OF INVESTMENTS (Continued)**

**January 31, 2026 (Unaudited)**

---

| | | | |
|:---|:---|:---|:---|
| **Reference Entity** | **Shares** | **Market Value** | **% of Total Index Value** |
| General Motors Company | 958 | $80460 | 1.61% |
| General Mills, Inc. | 1739 | 80458 | 1.61% |
| Johnson & Johnson | 354 | 80455 | 1.61% |
| O'Reilly Automotive, Inc. | 817 | 80447 | 1.61% |
| Allstate Corporation (The) | 403 | 80115 | 1.61% |
| Amgen, Inc. | 234 | 80101 | 1.61% |
| Pfizer, Inc. | 3018 | 79798 | 1.60% |
| Progressive Corporation | 383 | 79567 | 1.60% |
| NVIDIA Corporation | 416 | 79451 | 1.59% |
| McDonald's Corporation | 252 | 79320 | 1.59% |
| Illumina, Inc. | 547 | 79141 | 1.59% |
| Advanced Micro Devices, Inc. | 334 | 79050 | 1.58% |
| Ford Motor Company | 5692 | 79008 | 1.58% |
| Ecolab, Inc. | 279 | 78788 | 1.58% |
| Cardinal Health, Inc. | 364 | 78299 | 1.57% |
| W. R. Berkley Corporation | 1140 | 78212 | 1.57% |
| United Therapeutics Corporation | 167 | 78173 | 1.57% |
| Motorola Solutions, Inc. | 193 | 77787 | 1.56% |
| Estee Lauder Companies, Inc. (The) | 673 | 77569 | 1.56% |
| Canadian Imperial Bank of Commerce | 838 | 77447 | 1.55% |
| Constellation Brands, Inc. | 494 | 77443 | 1.55% |
| Tractor Supply Company | 1518 | 77217 | 1.55% |
| Kroger Company (The) | 1225 | 76997 | 1.54% |
| Hilton Worldwide Holdings, Inc. | 257 | 76812 | 1.54% |
| Sherwin-Williams Company (The) | 216 | 76724 | 1.54% |
| McKesson Corporation | 92 | 76562 | 1.53% |
| Starbucks Corporation | 832 | 76548 | 1.53% |
| Home Depot, Inc. (The) | 204 | 76278 | 1.53% |
| Hershey Company (The) | 391 | 76236 | 1.53% |
| Nokia Corporation, Class A | 11819 | 75996 | 1.52% |
| Ross Stores, Inc. | 402 | 75921 | 1.52% |
| Restaurant Brands International, Inc. | 1133 | 75896 | 1.52% |
| Prologis, Inc. | 581 | 75874 | 1.52% |
| Steris Corporation | 288 | 75670 | 1.52% |
| Costco Wholesale Corporation | 80 | 75537 | 1.51% |
| Ulta Beauty, Inc. | 117 | 75533 | 1.51% |
| Ralph Lauren Corporation | 213 | 75358 | 1.51% |
| Tapestry, Inc. | 592 | 75175 | 1.51% |
| Cognizant Technology Solutions Corporation | 914 | 74966 | 1.50% |
| Williams-Sonoma, Inc. | 366 | 74903 | 1.50% |
| Dollar General Corporation | 520 | 74650 | 1.50% |
| Lowe's Companies, Inc. | 279 | 74488 | 1.49% |
| Brookfield Corporation | 1635 | 74455 | 1.49% |
| Waters Corporation | 200 | 74086 | 1.49% |
| D.R. Horton, Inc. | 496 | 73880 | 1.48% |
| CyberArk Software Ltd. | 171 | 73520 | 1.47% |
| CVS Health Corporation | 985 | 73395 | 1.47% |
| Target Corporation | 696 | 73372 | 1.47% |
| Casey's General Stores, Inc. | 121 | 73315 | 1.47% |
| Jabil, Inc. | 308 | 73070 | 1.46% |
| Mettler-Toledo International, Inc. | 53 | 72782 | 1.46% |
| Darden Restaurants, Inc. | 361 | 71906 | 1.44% |
| NetApp, Inc. | 746 | 71830 | 1.44% |

---

**CRM LONG/SHORT OPPORTUNITIES FUND**

**SCHEDULE OF INVESTMENTS (Continued)**

**January 31, 2026 (Unaudited)**

---

| | | | |
|:---|:---|:---|:---|
| **Reference Entity** | **Shares** | **Market Value** | **% of Total Index Value** |
| Carlyle Group, Inc. | 1180 | $69344 | 1.39% |
| Blackstone, Inc. | 473 | 67433 | 1.35% |
| Lululemon Athletica, Inc. | 383 | 66918 | 1.34% |
| Coinbase Global, Inc., Class A | 321 | 62515 | 1.25% |
|  |  | $4990507 | 100.00% |

---

The following table represents the individual positions and related values of underlying securities of Morgan Stanley Custom Basket (MSCM1465) Index total return swap with Morgan Stanley Bank as of January 31, 2026, termination date 7/28/26:

---

| | | | |
|:---|:---|:---|:---|
| **Reference Entity** | **Shares** | **Market Value** | **% of Total Index Value** |
| Western Digital Corporation | 334 | $83568 | 1.67% |
| AT&T, Inc. | 3175 | 83228 | 1.66% |
| Sysco Corporation | 973 | 81597 | 1.63% |
| Teva Pharmaceutical Industries Ltd. - ADR | 2374 | 80923 | 1.62% |
| General Motors Company | 957 | 80388 | 1.61% |
| NVIDIA Corporation | 418 | 79926 | 1.60% |
| HCA Healthcare, Inc. | 160 | 78295 | 1.57% |
| Ford Motor Company | 5607 | 77828 | 1.56% |
| Church & Dwight Company, Inc. | 808 | 77777 | 1.56% |
| Johnson & Johnson | 341 | 77549 | 1.55% |
| General Mills, Inc. | 1675 | 77496 | 1.55% |
| Anheuser-Busch InBev S.A. - ADR | 1081 | 77480 | 1.55% |
| PepsiCo, Inc. | 504 | 77475 | 1.55% |
| McDonald's Corporation | 246 | 77454 | 1.55% |
| Pfizer, Inc. | 2918 | 77149 | 1.54% |
| O'Reilly Automotive, Inc. | 782 | 76943 | 1.54% |
| Ecolab, Inc. | 273 | 76916 | 1.54% |
| Hilton Worldwide Holdings, Inc. | 257 | 76655 | 1.53% |
| Motorola Solutions, Inc. | 190 | 76646 | 1.53% |
| Allstate Corporation (The) | 385 | 76557 | 1.53% |
| Sherwin-Williams Company (The) | 215 | 76112 | 1.52% |
| Canadian Imperial Bank of Commerce | 824 | 76103 | 1.52% |
| Cardinal Health, Inc. | 354 | 76061 | 1.52% |
| Advanced Micro Devices, Inc. | 321 | 76009 | 1.52% |
| Progressive Corporation | 365 | 75954 | 1.52% |
| Steris Corporation | 289 | 75795 | 1.52% |
| W. R. Berkley Corporation | 1099 | 75399 | 1.51% |
| McKesson Corporation | 91 | 75313 | 1.51% |
| Adobe, Inc. | 256 | 75203 | 1.50% |
| Estee Lauder Companies, Inc. (The) | 651 | 74998 | 1.50% |
| Brookfield Corporation | 1644 | 74892 | 1.50% |
| Nokia Corporation, Class A | 11617 | 74696 | 1.49% |
| Atlassian Corporation | 631 | 74540 | 1.49% |
| Home Depot, Inc. (The) | 199 | 74361 | 1.49% |
| Tractor Supply Company | 1461 | 74333 | 1.49% |
| Prologis, Inc. | 569 | 74322 | 1.49% |
| Kroger Company (The) | 1179 | 74110 | 1.48% |
| Lowe's Companies, Inc. | 277 | 74092 | 1.48% |
| Ross Stores, Inc. | 393 | 74056 | 1.48% |
| Williams-Sonoma, Inc. | 362 | 74016 | 1.48% |
| Realty Income Corporation | 1208 | 73908 | 1.48% |
| Albemarle Corporation | 432 | 73640 | 1.47% |

---

**CRM LONG/SHORT OPPORTUNITIES FUND**

**SCHEDULE OF INVESTMENTS (Continued)**

**January 31, 2026 (Unaudited)**

---

| | | | |
|:---|:---|:---|:---|
| **Reference Entity** | **Shares** | **Market Value** | **% of Total Index Value** |
| Illumina, Inc. | 506 | $73270 | 1.46% |
| Tapestry, Inc. | 577 | 73167 | 1.46% |
| Starbucks Corporation | 795 | 73105 | 1.46% |
| Restaurant Brands International, Inc. | 1091 | 73057 | 1.46% |
| Ralph Lauren Corporation | 207 | 73056 | 1.46% |
| Hershey Company (The) | 374 | 72921 | 1.46% |
| Dollar General Corporation | 508 | 72839 | 1.46% |
| Costco Wholesale Corporation | 77 | 72610 | 1.45% |
| D.R. Horton, Inc. | 486 | 72350 | 1.45% |
| Salesforce, Inc. | 338 | 71832 | 1.44% |
| Target Corporation | 681 | 71829 | 1.44% |
| CyberArk Software Ltd. | 167 | 71803 | 1.44% |
| Workday, Inc., Class A | 407 | 71469 | 1.43% |
| Ulta Beauty, Inc. | 110 | 71349 | 1.43% |
| Constellation Brands, Inc. | 455 | 71306 | 1.43% |
| Darden Restaurants, Inc. | 356 | 71067 | 1.42% |
| Carlyle Group, Inc. | 1205 | 70814 | 1.42% |
| Casey's General Stores, Inc. | 117 | 70724 | 1.41% |
| Extra Space Storage, Inc. | 512 | 70596 | 1.41% |
| Intuit, Inc. | 141 | 70237 | 1.40% |
| Snowflake, Inc., Class A | 361 | 69586 | 1.39% |
| CVS Health Corporation | 930 | 69285 | 1.39% |
| Blackstone, Inc. | 484 | 68905 | 1.38% |
| Lululemon Athletica, Inc. | 394 | 68839 | 1.38% |
| Coinbase Global, Inc., Class A | 327 | 63677 | 1.27% |
|  |  | $4999456 | 100.00% |

---

The following table represents the individual positions and related values of underlying securities of Morgan Stanley Custom Basket (MSCM1466) Index total return swap with Morgan Stanley Bank as of January 31, 2026, termination date 7/28/26:

---

| | | | |
|:---|:---|:---|:---|
| **Reference Entity** | **Shares** | **Market Value** | **% of Total Index Value** |
| AT&T, Inc. | 4001 | $104857 | 2.11% |
| Teva Pharmaceutical Industries Ltd. - ADR | 2993 | 102006 | 2.05% |
| NVIDIA Corporation | 513 | 98020 | 1.97% |
| Johnson & Johnson | 431 | 97999 | 1.97% |
| General Motors Company | 1162 | 97581 | 1.96% |
| Western Digital Corporation | 389 | 97252 | 1.96% |
| Cardinal Health, Inc. | 451 | 96906 | 1.95% |
| McDonald's Corporation | 308 | 96878 | 1.95% |
| Pfizer, Inc. | 3631 | 96012 | 1.93% |
| Motorola Solutions, Inc. | 238 | 95822 | 1.93% |
| Canadian Imperial Bank of Commerce | 1027 | 94908 | 1.91% |
| Ford Motor Company | 6828 | 94766 | 1.91% |
| Hilton Worldwide Holdings, Inc. | 317 | 94665 | 1.91% |
| United Therapeutics Corporation | 200 | 93959 | 1.89% |
| Nokia Corporation, Class A | 14599 | 93869 | 1.89% |
| Adobe, Inc. | 320 | 93702 | 1.89% |
| O'Reilly Automotive, Inc. | 952 | 93663 | 1.89% |
| Prologis, Inc. | 717 | 93599 | 1.88% |
| Sherwin-Williams Company (The) | 264 | 93574 | 1.88% |
| Amgen, Inc. | 274 | 93544 | 1.88% |
| Target Corporation | 887 | 93509 | 1.88% |

---

**CRM LONG/SHORT OPPORTUNITIES FUND**

**SCHEDULE OF INVESTMENTS (Continued)**

**January 31, 2026 (Unaudited)**

---

| | | | |
|:---|:---|:---|:---|
| **Reference Entity** | **Shares** | **Market Value** | **% of Total Index Value** |
| Realty Income Corporation | 1522 | $93056 | 1.87% |
| Restaurant Brands International, Inc. | 1382 | 92591 | 1.86% |
| Ross Stores, Inc. | 489 | 92221 | 1.86% |
| CyberArk Software Ltd. | 214 | 91989 | 1.85% |
| Dollar General Corporation | 639 | 91632 | 1.85% |
| Home Depot, Inc. (The) | 244 | 91558 | 1.84% |
| Casey's General Stores, Inc. | 150 | 91171 | 1.84% |
| Atlassian Corporation | 768 | 90766 | 1.83% |
| Lowe's Companies, Inc. | 339 | 90605 | 1.82% |
| Darden Restaurants, Inc. | 453 | 90392 | 1.82% |
| Tapestry, Inc. | 711 | 90225 | 1.82% |
| Salesforce, Inc. | 424 | 90073 | 1.81% |
| Workday, Inc., Class A | 513 | 90027 | 1.81% |
| Tractor Supply Company | 1768 | 89966 | 1.81% |
| Costco Wholesale Corporation | 96 | 89939 | 1.81% |
| Ralph Lauren Corporation | 254 | 89901 | 1.81% |
| Starbucks Corporation | 975 | 89647 | 1.81% |
| Mettler-Toledo International, Inc. | 65 | 89474 | 1.80% |
| Intuit, Inc. | 179 | 89358 | 1.80% |
| Illumina, Inc. | 617 | 89286 | 1.80% |
| Williams-Sonoma, Inc. | 436 | 89265 | 1.80% |
| Extra Space Storage, Inc. | 647 | 89198 | 1.80% |
| Advanced Micro Devices, Inc. | 376 | 89096 | 1.79% |
| Albemarle Corporation | 522 | 89091 | 1.79% |
| Ulta Beauty, Inc. | 138 | 89050 | 1.79% |
| Carlyle Group, Inc. | 1506 | 88532 | 1.78% |
| D.R. Horton, Inc. | 595 | 88503 | 1.78% |
| Waters Corporation | 237 | 87856 | 1.77% |
| Snowflake, Inc., Class A | 455 | 87732 | 1.77% |
| Lululemon Athletica, Inc. | 495 | 86418 | 1.74% |
| CVS Health Corporation | 1154 | 85974 | 1.73% |
| Blackstone, Inc. | 603 | 85847 | 1.73% |
| Coinbase Global, Inc., Class A | 414 | 80679 | 1.62% |
|  |  | $4968209 | 100.00% |

---

The following table represents the individual positions and related values of underlying securities of Morgan Stanley Custom Basket (MSCM1467) Index total return swap with Morgan Stanley Bank as of January 31, 2026, termination date 7/28/26:

---

| | | | |
|:---|:---|:---|:---|
| **Reference Entity** | **Shares** | **Market Value** | **% of Total Index Value** |
| AT&T, Inc. | 2475 | $64863 | 1.29% |
| CH Robinson Worldwide, Inc. | 328 | 63947 | 1.28% |
| Sysco Corporation | 759 | 63678 | 1.27% |
| Teva Pharmaceutical Industries Ltd. - ADR | 1843 | 62814 | 1.25% |
| PepsiCo, Inc. | 404 | 62084 | 1.24% |
| Eaton Corporation PLC | 175 | 61390 | 1.22% |
| HCA Healthcare, Inc. | 125 | 61098 | 1.22% |
| Johnson & Johnson | 267 | 60694 | 1.21% |
| General Mills, Inc. | 1312 | 60676 | 1.21% |
| Cardinal Health, Inc. | 282 | 60608 | 1.21% |
| Carrier Global Corporation | 1016 | 60528 | 1.21% |
| General Motors Company | 719 | 60411 | 1.20% |
| NVIDIA Corporation | 316 | 60340 | 1.20% |

---

**CRM LONG/SHORT OPPORTUNITIES FUND**

**SCHEDULE OF INVESTMENTS (Continued)**

**January 31, 2026 (Unaudited)**

---

| | | | |
|:---|:---|:---|:---|
| **Reference Entity** | **Shares** | **Market Value** | **% of Total Index Value** |
| Prologis, Inc. | 461 | $60146 | 1.20% |
| McDonald's Corporation | 191 | 60064 | 1.20% |
| Anheuser-Busch InBev S.A. - ADR | 838 | 60046 | 1.20% |
| Western Digital Corporation | 240 | 60019 | 1.20% |
| Hershey Company (The) | 306 | 59609 | 1.19% |
| Allstate Corporation (The) | 299 | 59463 | 1.19% |
| McKesson Corporation | 71 | 59365 | 1.18% |
| W. R. Berkley Corporation | 864 | 59270 | 1.18% |
| Caterpillar, Inc. | 90 | 59159 | 1.18% |
| Pfizer, Inc. | 2236 | 59114 | 1.18% |
| Motorola Solutions, Inc. | 147 | 59095 | 1.18% |
| W. W. Grainger, Inc. | 55 | 59082 | 1.18% |
| Ford Motor Company | 4256 | 59078 | 1.18% |
| Sherwin-Williams Company (The) | 166 | 59021 | 1.18% |
| Ross Stores, Inc. | 312 | 58866 | 1.17% |
| Hilton Worldwide Holdings, Inc. | 197 | 58865 | 1.17% |
| Hubbell, Inc. | 121 | 58822 | 1.17% |
| Steris Corporation | 224 | 58734 | 1.17% |
| Progressive Corporation | 282 | 58659 | 1.17% |
| Realty Income Corporation | 959 | 58651 | 1.17% |
| Canadian Imperial Bank of Commerce | 632 | 58360 | 1.16% |
| O'Reilly Automotive, Inc. | 590 | 58077 | 1.16% |
| PACCAR, Inc. | 472 | 58047 | 1.16% |
| United Therapeutics Corporation | 124 | 58036 | 1.16% |
| Cummins, Inc. | 100 | 57929 | 1.16% |
| Dollar General Corporation | 404 | 57882 | 1.15% |
| Rockwell Automation, Inc. | 137 | 57851 | 1.15% |
| Cintas Corporation | 302 | 57846 | 1.15% |
| Target Corporation | 548 | 57790 | 1.15% |
| Nokia Corporation, Class A | 8978 | 57726 | 1.15% |
| Amgen, Inc. | 168 | 57481 | 1.15% |
| Westinghouse Air Brake Technologies Corporation | 250 | 57465 | 1.15% |
| Home Depot, Inc. (The) | 153 | 57368 | 1.14% |
| Casey's General Stores, Inc. | 94 | 57193 | 1.14% |
| Tapestry, Inc. | 451 | 57178 | 1.14% |
| Adobe, Inc. | 195 | 57092 | 1.14% |
| Emerson Electric Company | 388 | 57072 | 1.14% |
| Restaurant Brands International, Inc. | 851 | 57026 | 1.14% |
| Constellation Brands, Inc. | 363 | 56894 | 1.13% |
| Williams-Sonoma, Inc. | 278 | 56867 | 1.13% |
| United Parcel Service, Class B | 534 | 56710 | 1.13% |
| Darden Restaurants, Inc. | 284 | 56701 | 1.13% |
| Old Dominion Freight Line, Inc. | 327 | 56701 | 1.13% |
| Ralph Lauren Corporation | 160 | 56687 | 1.13% |
| Lowe's Companies, Inc. | 212 | 56679 | 1.13% |
| NetApp, Inc. | 588 | 56649 | 1.13% |
| Cognizant Technology Solutions Corporation | 690 | 56595 | 1.13% |
| Jabil, Inc. | 238 | 56563 | 1.13% |
| Fastenal Company | 1303 | 56504 | 1.13% |
| Estee Lauder Companies, Inc. (The) | 488 | 56298 | 1.12% |
| International Paper Company (The) | 1395 | 56234 | 1.12% |
| Costco Wholesale Corporation | 60 | 56207 | 1.12% |
| J.B. Hunt Transport Services, Inc. | 277 | 56136 | 1.12% |

---

**CRM LONG/SHORT OPPORTUNITIES FUND**

**SCHEDULE OF INVESTMENTS (Continued)**

**January 31, 2026 (Unaudited)**

---

| | | | |
|:---|:---|:---|:---|
| **Reference Entity** | **Shares** | **Market Value** | **% of Total Index Value** |
| General Dynamics Corporation | 160 | $56003 | 1.12% |
| Starbucks Corporation | 609 | 55991 | 1.12% |
| D.R. Horton, Inc. | 375 | 55769 | 1.11% |
| Mettler-Toledo International, Inc. | 41 | 55722 | 1.11% |
| Tractor Supply Company | 1093 | 55600 | 1.11% |
| Automatic Data Processing, Inc. | 225 | 55427 | 1.11% |
| Ulta Beauty, Inc. | 86 | 55419 | 1.11% |
| Carlyle Group, Inc. | 936 | 55013 | 1.10% |
| Illumina, Inc. | 379 | 54890 | 1.09% |
| Workday, Inc., Class A | 310 | 54462 | 1.09% |
| Advanced Micro Devices, Inc. | 230 | 54444 | 1.09% |
| Salesforce, Inc. | 256 | 54312 | 1.08% |
| Boeing Company (The) | 232 | 54248 | 1.08% |
| Waters Corporation | 146 | 54026 | 1.08% |
| Atlassian Corporation | 454 | 53693 | 1.07% |
| Snowflake, Inc., Class A | 276 | 53260 | 1.06% |
| Intuit, Inc. | 107 | 53158 | 1.06% |
| Albemarle Corporation | 310 | 52872 | 1.05% |
| CVS Health Corporation | 706 | 52595 | 1.05% |
| Lululemon Athletica, Inc. | 300 | 52311 | 1.04% |
| Coinbase Global, Inc., Class A | 262 | 50927 | 1.02% |
|  |  | $5014245 | 100.00% |

---

The following table represents the individual positions and related values of underlying securities of Morgan Stanley Custom Basket (MSCM1468) Index total return swap with Morgan Stanley Bank as of January 31, 2026, termination date 7/28/26:

---

| | | | |
|:---|:---|:---|:---|
| **Reference Entity** | **Shares** | **Market Value** | **% of Total Index Value** |
| AT&T, Inc. | 2272 | $59553 | 1.21% |
| CH Robinson Worldwide, Inc. | 303 | 59149 | 1.20% |
| Sysco Corporation | 703 | 58973 | 1.19% |
| Teva Pharmaceutical Industries Ltd. - ADR | 1685 | 57425 | 1.16% |
| PepsiCo, Inc. | 371 | 56955 | 1.15% |
| Eaton Corporation PLC | 162 | 56869 | 1.15% |
| Western Digital Corporation | 227 | 56738 | 1.15% |
| General Motors Company | 673 | 56506 | 1.14% |
| Caterpillar, Inc. | 86 | 56229 | 1.14% |
| Apple, Inc. | 216 | 56072 | 1.13% |
| Church & Dwight Company, Inc. | 580 | 55815 | 1.13% |
| Carrier Global Corporation | 935 | 55733 | 1.13% |
| General Mills, Inc. | 1203 | 55645 | 1.13% |
| HCA Healthcare, Inc. | 114 | 55580 | 1.12% |
| Johnson & Johnson | 243 | 55331 | 1.12% |
| Cardinal Health, Inc. | 257 | 55285 | 1.12% |
| Pfizer, Inc. | 2090 | 55251 | 1.12% |
| Allstate Corporation (The) | 277 | 55078 | 1.11% |
| Prologis, Inc. | 422 | 55038 | 1.11% |
| Anheuser-Busch InBev S.A. - ADR | 767 | 54981 | 1.11% |
| Ford Motor Company | 3953 | 54865 | 1.11% |
| W. R. Berkley Corporation | 799 | 54766 | 1.11% |
| W. W. Grainger, Inc. | 51 | 54719 | 1.11% |
| McDonald's Corporation | 173 | 54597 | 1.11% |
| Hershey Company (The) | 280 | 54595 | 1.11% |

---

**CRM LONG/SHORT OPPORTUNITIES FUND**

**SCHEDULE OF INVESTMENTS (Continued)**

**January 31, 2026 (Unaudited)**

---

| | | | |
|:---|:---|:---|:---|
| **Reference Entity** | **Shares** | **Market Value** | **% of Total Index Value** |
| NVIDIA Corporation | 286 | $54588 | 1.10% |
| Sherwin-Williams Company (The) | 154 | 54541 | 1.10% |
| McKesson Corporation | 65 | 54318 | 1.10% |
| Cummins, Inc. | 94 | 54260 | 1.10% |
| Steris Corporation | 207 | 54236 | 1.10% |
| Progressive Corporation | 260 | 54113 | 1.10% |
| Rockwell Automation, Inc. | 128 | 54089 | 1.09% |
| PACCAR, Inc. | 439 | 54000 | 1.09% |
| Realty Income Corporation | 882 | 53971 | 1.09% |
| Hubbell, Inc. | 110 | 53866 | 1.09% |
| Motorola Solutions, Inc. | 133 | 53717 | 1.09% |
| Hilton Worldwide Holdings, Inc. | 180 | 53672 | 1.09% |
| United Therapeutics Corporation | 114 | 53663 | 1.09% |
| Williams-Sonoma, Inc. | 262 | 53639 | 1.09% |
| Ross Stores, Inc. | 284 | 53628 | 1.09% |
| Ecolab, Inc. | 190 | 53617 | 1.09% |
| Westinghouse Air Brake Technologies Corporation | 233 | 53607 | 1.09% |
| Canadian Imperial Bank of Commerce | 578 | 53432 | 1.08% |
| Emerson Electric Company | 363 | 53339 | 1.08% |
| Old Dominion Freight Line, Inc. | 308 | 53262 | 1.08% |
| Cintas Corporation | 278 | 53164 | 1.08% |
| O'Reilly Automotive, Inc. | 540 | 53157 | 1.08% |
| Amgen, Inc. | 155 | 53154 | 1.08% |
| D.R. Horton, Inc. | 356 | 53005 | 1.07% |
| Fastenal Company | 1221 | 52953 | 1.07% |
| Constellation Brands, Inc. | 338 | 52898 | 1.07% |
| United Parcel Service, Class B | 496 | 52726 | 1.07% |
| CyberArk Software Ltd. | 122 | 52696 | 1.07% |
| Estee Lauder Companies, Inc. (The) | 455 | 52502 | 1.06% |
| Restaurant Brands International, Inc. | 784 | 52495 | 1.06% |
| Kroger Company (The) | 834 | 52432 | 1.06% |
| Mettler-Toledo International, Inc. | 38 | 52338 | 1.06% |
| Dollar General Corporation | 365 | 52327 | 1.06% |
| Home Depot, Inc. (The) | 140 | 52318 | 1.06% |
| Tapestry, Inc. | 412 | 52310 | 1.06% |
| Target Corporation | 496 | 52296 | 1.06% |
| Jabil, Inc. | 220 | 52288 | 1.06% |
| Extra Space Storage, Inc. | 379 | 52255 | 1.06% |
| Cognizant Technology Solutions Corporation | 637 | 52250 | 1.06% |
| Adobe, Inc. | 178 | 52208 | 1.06% |
| Casey's General Stores, Inc. | 86 | 52153 | 1.06% |
| Darden Restaurants, Inc. | 260 | 51827 | 1.05% |
| General Dynamics Corporation | 148 | 51803 | 1.05% |
| Brookfield Corporation | 1136 | 51759 | 1.05% |
| Lowe's Companies, Inc. | 194 | 51727 | 1.05% |
| Illumina, Inc. | 357 | 51649 | 1.05% |
| Ralph Lauren Corporation | 146 | 51563 | 1.04% |
| Carlyle Group, Inc. | 875 | 51413 | 1.04% |
| Automatic Data Processing, Inc. | 208 | 51303 | 1.04% |
| Costco Wholesale Corporation | 55 | 51256 | 1.04% |
| Nokia Corporation, Class A | 7917 | 50908 | 1.03% |
| Blackstone, Inc. | 356 | 50729 | 1.03% |
| Waters Corporation | 137 | 50650 | 1.03% |

---

**CRM LONG/SHORT OPPORTUNITIES FUND**

**SCHEDULE OF INVESTMENTS (Continued)**

**January 31, 2026 (Unaudited)**

---

| | | | |
|:---|:---|:---|:---|
| **Reference Entity** | **Shares** | **Market Value** | **% of Total Index Value** |
| &nbsp;&nbsp;Ulta Beauty, Inc. | 78 | $50572 | 1.02% |
| &nbsp;&nbsp;Starbucks Corporation | 549 | 50487 | 1.02% |
| &nbsp;&nbsp;International Paper Company (The) | 1245 | 50213 | 1.02% |
| &nbsp;&nbsp;Salesforce, Inc. | 235 | 49896 | 1.01% |
| &nbsp;&nbsp;Tractor Supply Company | 980 | 49866 | 1.01% |
| &nbsp;&nbsp;Workday, Inc., Class A | 283 | 49740 | 1.01% |
| &nbsp;&nbsp;Boeing Company (The) | 213 | 49682 | 1.01% |
| &nbsp;&nbsp;Snowflake, Inc., Class A | 256 | 49257 | 1.00% |
| &nbsp;&nbsp;Lululemon Athletica, Inc. | 281 | 48952 | 0.99% |
| &nbsp;&nbsp;Advanced Micro Devices, Inc. | 206 | 48863 | 0.99% |
| &nbsp;&nbsp;Albemarle Corporation | 283 | 48260 | 0.98% |
| &nbsp;&nbsp;CVS Health Corporation | 646 | 48118 | 0.97% |
| &nbsp;&nbsp;Coinbase Global, Inc., Class A | 247 | 48113 | 0.97% |
| &nbsp;&nbsp;Atlassian Corporation | 407 | 48079 | 0.97% |
| &nbsp;&nbsp;Intuit, Inc. | 95 | 47418 | 0.96% |
|  |  | $4937334 | 100.00% |

---

The following table represents the individual positions and related values of underlying securities of Morgan Stanley Custom Basket (MSCM1469) Index total return swap with Morgan Stanley Bank as of January 31, 2026, termination date 7/28/26:

---

| | | | |
|:---|:---|:---|:---|
| **Reference Entity** | **Shares** | **Market Value** | **% of Total Index Value** |
| AT&T, Inc. | 2654 | $69554 | 1.42% |
| CH Robinson Worldwide, Inc. | 349 | 68114 | 1.39% |
| Teva Pharmaceutical Industries Ltd. - ADR | 1936 | 65986 | 1.34% |
| Eaton Corporation PLC | 187 | 65815 | 1.34% |
| General Motors Company | 783 | 65810 | 1.34% |
| Western Digital Corporation | 258 | 64654 | 1.32% |
| Carrier Global Corporation | 1085 | 64627 | 1.32% |
| Caterpillar, Inc. | 98 | 64328 | 1.31% |
| HCA Healthcare, Inc. | 132 | 64323 | 1.31% |
| Ford Motor Company | 4630 | 64267 | 1.31% |
| Prologis, Inc. | 492 | 64263 | 1.31% |
| W. W. Grainger, Inc. | 59 | 64006 | 1.30% |
| Johnson & Johnson | 281 | 63848 | 1.30% |
| W. R. Berkley Corporation | 930 | 63812 | 1.30% |
| NVIDIA Corporation | 334 | 63785 | 1.30% |
| Pfizer, Inc. | 2405 | 63577 | 1.29% |
| Cardinal Health, Inc. | 295 | 63395 | 1.29% |
| Sherwin-Williams Company (The) | 179 | 63357 | 1.29% |
| Apple, Inc. | 244 | 63222 | 1.29% |
| Cummins, Inc. | 109 | 63197 | 1.29% |
| Allstate Corporation (The) | 317 | 63173 | 1.29% |
| Darden Restaurants, Inc. | 317 | 63155 | 1.29% |
| Target Corporation | 599 | 63134 | 1.29% |
| Realty Income Corporation | 1030 | 63013 | 1.28% |
| PACCAR, Inc. | 510 | 62638 | 1.28% |
| McDonald's Corporation | 199 | 62638 | 1.28% |
| Tapestry, Inc. | 493 | 62590 | 1.27% |
| Ross Stores, Inc. | 332 | 62588 | 1.27% |
| McKesson Corporation | 75 | 62576 | 1.27% |
| Hilton Worldwide Holdings, Inc. | 209 | 62521 | 1.27% |
| Motorola Solutions, Inc. | 155 | 62458 | 1.27% |

---

**CRM LONG/SHORT OPPORTUNITIES FUND**

**SCHEDULE OF INVESTMENTS (Continued)**

**January 31, 2026 (Unaudited)**

---

| | | | |
|:---|:---|:---|:---|
| **Reference Entity** | **Shares** | **Market Value** | **% of Total Index Value** |
| Rockwell Automation, Inc. | 148 | $62415 | 1.27% |
| Hubbell, Inc. | 128 | 62373 | 1.27% |
| Progressive Corporation | 299 | 62230 | 1.27% |
| Williams-Sonoma, Inc. | 304 | 62224 | 1.27% |
| Steris Corporation | 236 | 62105 | 1.27% |
| Restaurant Brands International, Inc. | 927 | 62091 | 1.26% |
| Old Dominion Freight Line, Inc. | 358 | 61947 | 1.26% |
| Westinghouse Air Brake Technologies Corporation | 269 | 61811 | 1.26% |
| United Parcel Service, Class B | 582 | 61794 | 1.26% |
| D.R. Horton, Inc. | 415 | 61749 | 1.26% |
| United Therapeutics Corporation | 131 | 61721 | 1.26% |
| Fastenal Company | 1423 | 61703 | 1.26% |
| Cintas Corporation | 321 | 61428 | 1.25% |
| Emerson Electric Company | 417 | 61325 | 1.25% |
| Extra Space Storage, Inc. | 444 | 61288 | 1.25% |
| Casey's General Stores, Inc. | 101 | 61159 | 1.25% |
| O'Reilly Automotive, Inc. | 621 | 61094 | 1.24% |
| Jabil, Inc. | 257 | 61041 | 1.24% |
| Ralph Lauren Corporation | 173 | 61037 | 1.24% |
| Ulta Beauty, Inc. | 94 | 60915 | 1.24% |
| Amgen, Inc. | 178 | 60840 | 1.24% |
| Home Depot, Inc. (The) | 161 | 60308 | 1.23% |
| General Dynamics Corporation | 171 | 60099 | 1.22% |
| CyberArk Software Ltd. | 139 | 60051 | 1.22% |
| Mettler-Toledo International, Inc. | 44 | 59941 | 1.22% |
| Adobe, Inc. | 204 | 59888 | 1.22% |
| Costco Wholesale Corporation | 64 | 59848 | 1.22% |
| Lowe's Companies, Inc. | 224 | 59800 | 1.22% |
| Carlyle Group, Inc. | 1017 | 59760 | 1.22% |
| Cognizant Technology Solutions Corporation | 727 | 59650 | 1.21% |
| Automatic Data Processing, Inc. | 241 | 59494 | 1.21% |
| Starbucks Corporation | 646 | 59401 | 1.21% |
| Dollar General Corporation | 414 | 59374 | 1.21% |
| Waters Corporation | 159 | 59017 | 1.20% |
| Illumina, Inc. | 407 | 58899 | 1.20% |
| Advanced Micro Devices, Inc. | 248 | 58620 | 1.19% |
| Boeing Company (The) | 250 | 58545 | 1.19% |
| International Paper Company (The) | 1447 | 58352 | 1.19% |
| Nokia Corporation, Class A | 9006 | 57907 | 1.18% |
| Salesforce, Inc. | 271 | 57589 | 1.17% |
| Workday, Inc., Class A | 326 | 57267 | 1.17% |
| Tractor Supply Company | 1120 | 56988 | 1.16% |
| Coinbase Global, Inc., Class A | 292 | 56767 | 1.16% |
| Snowflake, Inc., Class A | 295 | 56760 | 1.16% |
| Lululemon Athletica, Inc. | 323 | 56326 | 1.15% |
| Albemarle Corporation | 328 | 55959 | 1.14% |
| CVS Health Corporation | 742 | 55292 | 1.13% |
| Intuit, Inc. | 111 | 55268 | 1.13% |
| Atlassian Corporation | 450 | 53123 | 1.08% |
|  |  | $4909007 | 100.00% |

---

**CRM LONG/SHORT OPPORTUNITIES FUND**

**SCHEDULE OF INVESTMENTS (Continued)**

**January 31, 2026 (Unaudited)**

The following table represents the individual positions and related values of underlying securities of Morgan Stanley Custom Basket (MSCM1470) Index total return swap with Morgan Stanley Bank as of January 31, 2026, termination date 7/28/26:

---

| | | | |
|:---|:---|:---|:---|
| **Reference Entity** | **Shares** | **Market Value** | **% of Total Index Value** |
| AT&T, Inc. | 3796 | $99506 | 2.04% |
| CH Robinson Worldwide, Inc. | 484 | 94349 | 1.93% |
| Carrier Global Corporation | 1530 | 91160 | 1.87% |
| CVS Health Corporation | 1213 | 90376 | 1.85% |
| Eaton Corporation PLC | 256 | 89937 | 1.84% |
| Caterpillar, Inc. | 137 | 89841 | 1.84% |
| W. W. Grainger, Inc. | 83 | 89167 | 1.82% |
| PACCAR, Inc. | 723 | 88837 | 1.82% |
| NVIDIA Corporation | 463 | 88528 | 1.81% |
| Target Corporation | 839 | 88468 | 1.81% |
| Darden Restaurants, Inc. | 443 | 88406 | 1.81% |
| Hubbell, Inc. | 180 | 88005 | 1.80% |
| Apple, Inc. | 338 | 87728 | 1.80% |
| Rockwell Automation, Inc. | 208 | 87715 | 1.80% |
| Cummins, Inc. | 152 | 87712 | 1.79% |
| McDonald's Corporation | 278 | 87561 | 1.79% |
| D.R. Horton, Inc. | 588 | 87466 | 1.79% |
| Cintas Corporation | 457 | 87402 | 1.79% |
| Progressive Corporation | 420 | 87286 | 1.79% |
| Pfizer, Inc. | 3295 | 87122 | 1.78% |
| Ford Motor Company | 6268 | 87006 | 1.78% |
| Emerson Electric Company | 591 | 86900 | 1.78% |
| Tapestry, Inc. | 685 | 86888 | 1.78% |
| Westinghouse Air Brake Technologies Corporation | 377 | 86724 | 1.77% |
| Old Dominion Freight Line, Inc. | 501 | 86699 | 1.77% |
| Restaurant Brands International, Inc. | 1294 | 86660 | 1.77% |
| United Parcel Service, Class B | 815 | 86521 | 1.77% |
| Western Digital Corporation | 346 | 86480 | 1.77% |
| Fastenal Company | 1987 | 86147 | 1.76% |
| Adobe, Inc. | 294 | 86095 | 1.76% |
| Home Depot, Inc. (The) | 230 | 85995 | 1.76% |
| United Therapeutics Corporation | 183 | 85984 | 1.76% |
| Williams-Sonoma, Inc. | 419 | 85810 | 1.76% |
| O'Reilly Automotive, Inc. | 868 | 85401 | 1.75% |
| Lowe's Companies, Inc. | 319 | 85126 | 1.74% |
| Amgen, Inc. | 249 | 84973 | 1.74% |
| General Motors Company | 1011 | 84913 | 1.74% |
| Dollar General Corporation | 591 | 84818 | 1.74% |
| Automatic Data Processing, Inc. | 343 | 84681 | 1.73% |
| CyberArk Software Ltd. | 196 | 84436 | 1.73% |
| Mettler-Toledo International, Inc. | 61 | 84137 | 1.72% |
| Starbucks Corporation | 912 | 83880 | 1.72% |
| General Dynamics Corporation | 238 | 83620 | 1.71% |
| International Paper Company (The) | 2069 | 83429 | 1.71% |
| Illumina, Inc. | 574 | 83140 | 1.70% |
| Waters Corporation | 224 | 82983 | 1.70% |
| Advanced Micro Devices, Inc. | 346 | 82018 | 1.68% |
| Lululemon Athletica, Inc. | 468 | 81749 | 1.67% |
| Workday, Inc., Class A | 463 | 81323 | 1.66% |

---

**CRM LONG/SHORT OPPORTUNITIES FUND**

**SCHEDULE OF INVESTMENTS (Continued)**

**January 31, 2026 (Unaudited)**

---

| | | | |
|:---|:---|:---|:---|
| **Reference Entity** | **Shares** | **Market Value** | **% of Total Index Value** |
| Salesforce, Inc. | 382 | $81114 | 1.66% |
| Nokia Corporation, Class A | 12582 | 80902 | 1.66% |
| Coinbase Global, Inc., Class A | 414 | 80655 | 1.65% |
| Intuit, Inc. | 160 | 79878 | 1.63% |
| Tractor Supply Company | 1567 | 79720 | 1.63% |
| Snowflake, Inc., Class A | 410 | 79090 | 1.62% |
| Atlassian Corporation | 652 | 77091 | 1.58% |
| Albemarle Corporation | 450 | 76729 | 1.57% |
|  |  | $4886287 | 100.00% |

---

The following table represents the individual positions and related values of underlying securities of Morgan Stanley Custom Basket (MSCM1471) Index total return swap with Morgan Stanley Bank as of January 31, 2026, termination date 7/28/26:

---

| | | | |
|:---|:---|:---|:---|
| **Reference Entity** | **Shares** | **Market Value** | **% of Total Index Value** |
| AT&T, Inc. | 3126 | $81942 | 1.67% |
| Church & Dwight Company, Inc. | 823 | 79175 | 1.61% |
| General Mills, Inc. | 1697 | 78492 | 1.60% |
| Target Corporation | 740 | 78010 | 1.59% |
| PepsiCo, Inc. | 507 | 77851 | 1.59% |
| Anheuser-Busch InBev S.A. - ADR | 1078 | 77256 | 1.57% |
| Teva Pharmaceutical Industries Ltd. - ADR | 2266 | 77223 | 1.57% |
| Pfizer, Inc. | 2910 | 76939 | 1.57% |
| Cardinal Health, Inc. | 358 | 76858 | 1.57% |
| Darden Restaurants, Inc. | 383 | 76343 | 1.56% |
| Sherwin-Williams Company (The) | 215 | 76336 | 1.56% |
| Ulta Beauty, Inc. | 118 | 76330 | 1.56% |
| Hershey Company (The) | 392 | 76329 | 1.56% |
| Ross Stores, Inc. | 404 | 76307 | 1.56% |
| W. R. Berkley Corporation | 1112 | 76264 | 1.55% |
| Apple, Inc. | 293 | 76144 | 1.55% |
| Allstate Corporation (The) | 381 | 75885 | 1.55% |
| Hilton Worldwide Holdings, Inc. | 254 | 75810 | 1.55% |
| Tapestry, Inc. | 597 | 75795 | 1.54% |
| McDonald's Corporation | 241 | 75781 | 1.54% |
| Steris Corporation | 288 | 75753 | 1.54% |
| CVS Health Corporation | 1017 | 75750 | 1.54% |
| Estee Lauder Companies, Inc. (The) | 657 | 75685 | 1.54% |
| McKesson Corporation | 91 | 75669 | 1.54% |
| United Therapeutics Corporation | 161 | 75604 | 1.54% |
| Ford Motor Company | 5445 | 75578 | 1.54% |
| Sysco Corporation | 901 | 75558 | 1.54% |
| Ecolab, Inc. | 267 | 75393 | 1.54% |
| Ralph Lauren Corporation | 213 | 75341 | 1.54% |
| Amgen, Inc. | 220 | 75177 | 1.53% |
| Home Depot, Inc. (The) | 201 | 75109 | 1.53% |
| NVIDIA Corporation | 393 | 75098 | 1.53% |
| Johnson & Johnson | 330 | 75096 | 1.53% |
| Williams-Sonoma, Inc. | 366 | 74860 | 1.53% |
| HCA Healthcare, Inc. | 153 | 74798 | 1.52% |
| Motorola Solutions, Inc. | 186 | 74780 | 1.52% |
| Constellation Brands, Inc. | 477 | 74755 | 1.52% |
| Restaurant Brands International, Inc. | 1116 | 74749 | 1.52% |

---

**CRM LONG/SHORT OPPORTUNITIES FUND**

**SCHEDULE OF INVESTMENTS (Continued)**

**January 31, 2026 (Unaudited)**

---

| | | | |
|:---|:---|:---|:---|
| **Reference Entity** | **Shares** | **Market Value** | **% of Total Index Value** |
| Lowe's Companies, Inc. | 279 | $74592 | 1.52% |
| D.R. Horton, Inc. | 501 | 74585 | 1.52% |
| General Motors Company | 886 | 74454 | 1.52% |
| Dollar General Corporation | 519 | 74416 | 1.52% |
| Casey's General Stores, Inc. | 122 | 74177 | 1.51% |
| Cognizant Technology Solutions Corporation | 903 | 74131 | 1.51% |
| Mettler-Toledo International, Inc. | 54 | 73727 | 1.50% |
| Adobe, Inc. | 251 | 73662 | 1.50% |
| Costco Wholesale Corporation | 78 | 73644 | 1.50% |
| Progressive Corporation | 354 | 73575 | 1.50% |
| O'Reilly Automotive, Inc. | 742 | 73054 | 1.49% |
| NetApp, Inc. | 758 | 72994 | 1.49% |
| Lululemon Athletica, Inc. | 417 | 72811 | 1.48% |
| CyberArk Software Ltd. | 169 | 72747 | 1.48% |
| Illumina, Inc. | 502 | 72716 | 1.48% |
| Starbucks Corporation | 791 | 72713 | 1.48% |
| Waters Corporation | 195 | 72455 | 1.48% |
| Nokia Corporation, Class A | 11034 | 70948 | 1.45% |
| Advanced Micro Devices, Inc. | 298 | 70485 | 1.44% |
| Salesforce, Inc. | 330 | 70079 | 1.43% |
| Coinbase Global, Inc., Class A | 359 | 69973 | 1.43% |
| Workday, Inc., Class A | 398 | 69884 | 1.42% |
| Intuit, Inc. | 140 | 69695 | 1.42% |
| Albemarle Corporation | 408 | 69659 | 1.42% |
| Tractor Supply Company | 1365 | 69438 | 1.42% |
| Western Digital Corporation | 269 | 67323 | 1.37% |
| Snowflake, Inc., Class A | 348 | 67134 | 1.37% |
| Atlassian Corporation | 558 | 65993 | 1.34% |
|  |  | $4906887 | 100.00% |

---

The following table represents the individual positions and related values of underlying securities of Morgan Stanley Custom Basket (MSCM1472) Index total return swap with Morgan Stanley Bank as of January 31, 2026, termination date 7/28/26:

---

| | | | |
|:---|:---|:---|:---|
| **Reference Entity** | **Shares** | **Market Value** | **% of Total Index Value** |
| AT&T, Inc. | 2758 | $72294 | 1.45% |
| International Paper Company (The) | 1777 | 71661 | 1.44% |
| Teva Pharmaceutical Industries Ltd. - ADR | 2096 | 71432 | 1.44% |
| Ulta Beauty, Inc. | 110 | 71101 | 1.43% |
| Target Corporation | 674 | 71088 | 1.43% |
| Nokia Corporation, Class A | 11020 | 70858 | 1.42% |
| Cardinal Health, Inc. | 328 | 70513 | 1.42% |
| Pfizer, Inc. | 2656 | 70218 | 1.41% |
| HCA Healthcare, Inc. | 144 | 70140 | 1.41% |
| Dollar General Corporation | 489 | 70122 | 1.41% |
| Ross Stores, Inc. | 372 | 70114 | 1.41% |
| Lululemon Athletica, Inc. | 402 | 70103 | 1.41% |
| McKesson Corporation | 84 | 70066 | 1.41% |
| Cintas Corporation | 365 | 69951 | 1.41% |
| Home Depot, Inc. (The) | 186 | 69834 | 1.40% |
| CH Robinson Worldwide, Inc. | 358 | 69755 | 1.40% |
| Workday, Inc., Class A | 397 | 69700 | 1.40% |
| W. R. Berkley Corporation | 1015 | 69640 | 1.40% |

---

**CRM LONG/SHORT OPPORTUNITIES FUND**

**SCHEDULE OF INVESTMENTS (Continued)**

**January 31, 2026 (Unaudited)**

---

| | | | |
|:---|:---|:---|:---|
| **Reference Entity** | **Shares** | **Market Value** | **% of Total Index Value** |
| Apple, Inc. | 268 | $69637 | 1.40% |
| CyberArk Software Ltd. | 162 | 69587 | 1.40% |
| United Therapeutics Corporation | 148 | 69581 | 1.40% |
| Steris Corporation | 265 | 69570 | 1.40% |
| Old Dominion Freight Line, Inc. | 402 | 69560 | 1.40% |
| Automatic Data Processing, Inc. | 282 | 69555 | 1.40% |
| General Dynamics Corporation | 198 | 69541 | 1.40% |
| Allstate Corporation (The) | 349 | 69525 | 1.40% |
| United Parcel Service, Class B | 654 | 69466 | 1.40% |
| Lowe's Companies, Inc. | 260 | 69424 | 1.40% |
| CVS Health Corporation | 931 | 69390 | 1.40% |
| Fastenal Company | 1600 | 69379 | 1.40% |
| Sherwin-Williams Company (The) | 195 | 69327 | 1.39% |
| Darden Restaurants, Inc. | 348 | 69322 | 1.39% |
| Johnson & Johnson | 305 | 69303 | 1.39% |
| Progressive Corporation | 333 | 69229 | 1.39% |
| Boeing Company (The) | 296 | 69221 | 1.39% |
| Tractor Supply Company | 1360 | 69207 | 1.39% |
| McDonald's Corporation | 220 | 69203 | 1.39% |
| W. W. Grainger, Inc. | 64 | 69170 | 1.39% |
| Hilton Worldwide Holdings, Inc. | 232 | 69137 | 1.39% |
| Amgen, Inc. | 202 | 69101 | 1.39% |
| Tapestry, Inc. | 544 | 69087 | 1.39% |
| PACCAR, Inc. | 562 | 69085 | 1.39% |
| Carrier Global Corporation | 1159 | 69072 | 1.39% |
| O'Reilly Automotive, Inc. | 701 | 69007 | 1.39% |
| Ralph Lauren Corporation | 195 | 68987 | 1.39% |
| Williams-Sonoma, Inc. | 337 | 68975 | 1.39% |
| Restaurant Brands International, Inc. | 1027 | 68822 | 1.38% |
| NVIDIA Corporation | 360 | 68818 | 1.38% |
| Casey's General Stores, Inc. | 113 | 68769 | 1.38% |
| Intuit, Inc. | 138 | 68756 | 1.38% |
| Eaton Corporation PLC | 196 | 68738 | 1.38% |
| Salesforce, Inc. | 324 | 68736 | 1.38% |
| Ford Motor Company | 4951 | 68721 | 1.38% |
| Cummins, Inc. | 119 | 68708 | 1.38% |
| D.R. Horton, Inc. | 461 | 68587 | 1.38% |
| Westinghouse Air Brake Technologies Corporation | 298 | 68573 | 1.38% |
| Caterpillar, Inc. | 104 | 68494 | 1.38% |
| Waters Corporation | 185 | 68491 | 1.38% |
| Rockwell Automation, Inc. | 162 | 68490 | 1.38% |
| Costco Wholesale Corporation | 73 | 68396 | 1.38% |
| Mettler-Toledo International, Inc. | 50 | 68342 | 1.37% |
| Atlassian Corporation | 576 | 68049 | 1.37% |
| Hubbell, Inc. | 139 | 67919 | 1.37% |
| Starbucks Corporation | 738 | 67890 | 1.37% |
| Coinbase Global, Inc., Class A | 348 | 67770 | 1.36% |
| Emerson Electric Company | 460 | 67586 | 1.36% |
| General Motors Company | 804 | 67499 | 1.36% |
| Illumina, Inc. | 463 | 67056 | 1.35% |
| Snowflake, Inc., Class A | 348 | 66996 | 1.35% |
| Albemarle Corporation | 384 | 65453 | 1.32% |
| Advanced Micro Devices, Inc. | 275 | 65069 | 1.31% |
| Western Digital Corporation | 249 | 62299 | 1.25% |
|  |  | $4972265 | 100.00% |

---

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** CRM Mutual Fund Trust

- **b. Investment Company Act file number:** 811-21749

- **c. CIK number of Registrant:** 0001322252

- **d. LEI of Registrant:** 549300RX3217CTPTEU48

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

  - **Street Address 1:** 300 First Stamford Pl

  - **City:** Stamford

  - **State:** CT

  - **Foreign country:** US

  - **Zip / Postal Code:** 6902

  - **Telephone number:** 212-326-5300

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

- **a. Name of Series:** CRM MID CAP VALUE FUND

- **b. EDGAR series identifier (if any):** S000001322

- **c. LEI of Series:** 549300K3HZ4SL4IFDU96

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

- **a. Date of fiscal year-end:** 2026-10-31

- **b. Date as of which information is reported:** 2026-01-31

**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:** $264326448.61

**Total Liabilities:** $1207209.72

**Net Assets:** $263119238.89

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000003538 | 2.27%                | 1.87%                | 4.10%                |
| Class ID C000003539 | 2.29%                | 1.80%                | 4.12%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $5638451.80              | $-19849.40                                 |
| Month 2  | $9719467.48              | $-5123208.26                               |
| Month 3  | $1557076.74              | $9090480.58                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| ACV Auctions Inc                     | ACV Auctions, Inc.                                    | CUSIP: 00091G104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    672976 | NS      | $5255942.56   | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Advanced Drainage System Inc         | Advanced Drainage Systems, Inc.                       | CUSIP: 00790R104<br>LEI: 6QQTOZ5MF5DHM7K92I60 | Long             | EC               | CORP              | US        |     38453 | NS      | $5846394.12   | 2.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Ametek, Inc.                         | AMETEK, Inc.                                          | CUSIP: 031100100<br>LEI: 549300WZDEF9KKE40E98 | Long             | EC               | CORP              | US        |     34326 | NS      | $7688337.48   | 2.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Applied Industrial Technologies Inc. | Applied Industrial Technologies, Inc.                 | CUSIP: 03820C105<br>LEI: 549300NU173IJRC6PO38 | Long             | EC               | CORP              | US        |     17828 | NS      | $4642589.48   | 1.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Ashland Inc.                         | Ashland, Inc.                                         | CUSIP: 044186104<br>LEI: 529900E4L9R04SB8HB11 | Long             | EC               | CORP              | US        |     98800 | NS      | $6042608.00   | 2.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Atmos Energy Corp.                   | Atmos Energy Corporation                              | CUSIP: 049560105<br>LEI: QVLWEGTD2S8GJMO8D383 | Long             | EC               | CORP              | US        |     45875 | NS      | $7630847.50   | 2.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Avery Dennison Corporation           | Avery Dennison Corporation                            | CUSIP: 053611109<br>LEI: 549300PW7VPFCYKLIV37 | Long             | EC               | CORP              | US        |     35420 | NS      | $6570764.20   | 2.50%             |  |  |  | No            |                  1 | On Loan: No      |
| BankUnited Inc.                      | BankUnited, Inc.                                      | CUSIP: 06652K103<br>LEI: 96OVUWEW5D4YX6PFXD91 | Long             | EC               | CORP              | US        |    163945 | NS      | $7782469.15   | 2.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Bio-Techne Corp                      | Bio-Techne Corporation                                | CUSIP: 09073M104<br>LEI: 54930073RLKQ51TILZ35 | Long             | EC               | CORP              | US        |     88866 | NS      | $5695421.94   | 2.16%             |  |  |  | No            |                  1 | On Loan: No      |
| BlackRock Liquidity Funds            | Blackrock Liquidity Funds T-Fund Institutional Shares | CUSIP: 09248U718<br>LEI: 5493007YVNX55LTRQ706 | Long             | STIV             | RF                | US        |   4416022 | PA      | $4416022.18   | 1.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Burlington Stores Inc.               | Burlington Stores, Inc.                               | CUSIP: 122017106<br>LEI: 5299003Z37DVGKKC1W09 | Long             | EC               | CORP              | US        |     14645 | NS      | $4332869.70   | 1.65%             |  |  |  | No            |                  1 | On Loan: No      |
| CBRE Group Inc.                      | CBRE Group, Inc.                                      | CUSIP: 12504L109<br>LEI: 52990016II9MJ2OSWA10 | Long             | EC               | CORP              | US        |     35954 | NS      | $6124044.82   | 2.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Camden Property Trust                | Camden Property Trust                                 | CUSIP: 133131102<br>LEI: 5493002MYX22OHYJBD89 | Long             | EC               | CORP              | US        |     54454 | NS      | $5938208.70   | 2.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Canadian Pacific Kansas City Ltd.    | Canadian Pacific Kansas City Ltd.                     | CUSIP: 13646K108<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |     67955 | NS      | $5051774.70   | 1.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Capital One Financial Corp.          | Capital One Financial Corp.                           | CUSIP: 14040H105<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | EC               | CORP              | US        |     29067 | NS      | $6363638.31   | 2.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Ciena Corporation                    | Ciena Corporation                                     | CUSIP: 171779309<br>LEI: W0CZ7N0GH8UIGXDM1H41 | Long             | EC               | CORP              | US        |     24728 | NS      | $6226757.68   | 2.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Concentra Group Holdings Parent Inc  | Concentra Group Holdings Parent, Inc.                 | CUSIP: 20603L102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    276670 | NS      | $6136540.60   | 2.33%             |  |  |  | No            |                  1 | On Loan: No      |
| The Cooper Companies, Inc.           | Cooper Companies, Inc. (The)                          | CUSIP: 216648501<br>LEI: QJKMVPIGLH7530PCUE20 | Long             | EC               | CORP              | US        |     78548 | NS      | $6392236.24   | 2.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Corteva Inc                          | Corteva, Inc.                                         | CUSIP: 22052L104<br>LEI: 549300WZN9I2QKLS0O94 | Long             | EC               | CORP              | US        |     37682 | NS      | $2743249.60   | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Eagle Materials Inc.                 | Eagle Materials, Inc.                                 | CUSIP: 26969P108<br>LEI: 529900KRXRGXL61SG039 | Long             | EC               | CORP              | US        |     13526 | NS      | $2756734.06   | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Evercore Inc                         | Evercore, Inc.                                        | CUSIP: 29977A105<br>LEI: 529900P6KLPT95DW3W58 | Long             | EC               | CORP              | US        |     18263 | NS      | $6451770.01   | 2.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Evergy Inc                           | Evergy, Inc.                                          | CUSIP: 30034W106<br>LEI: 549300PGTHDQY6PSUI61 | Long             | EC               | CORP              | US        |     68142 | NS      | $5228535.66   | 1.99%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Financial Corporation | First American Financial Corporation                  | CUSIP: 31847R102<br>LEI: 549300B6VEZK3N0A1P55 | Long             | EC               | CORP              | US        |     78187 | NS      | $4939854.66   | 1.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Global Payments Inc                  | Global Payments, Inc.                                 | CUSIP: 37940X102<br>LEI: 549300NOMHGVQBX6S778 | Long             | EC               | CORP              | US        |     82252 | NS      | $5900758.48   | 2.24%             |  |  |  | No            |                  1 | On Loan: No      |
| MKS Inc.                             | MKS, Inc.                                             | CUSIP: 55306N104<br>LEI: 549300KEQATBHAGVF505 | Long             | EC               | CORP              | US        |     25424 | NS      | $5985063.84   | 2.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Matador Resources Company            | Matador Resources Company                             | CUSIP: 576485205<br>LEI: 549300CI3Q2UUK5R4G79 | Long             | EC               | CORP              | US        |     59166 | NS      | $2676669.84   | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Microchip Technology Incorporated    | Microchip Technology, Inc.                            | CUSIP: 595017104<br>LEI: 5493007PTFULNYZJ1R12 | Long             | EC               | CORP              | US        |     97196 | NS      | $7379120.32   | 2.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Money Market Obligations Trust       | Federated Hermes Treasury Oligations Fund             | CUSIP: 60934N500<br>LEI: 25490005VWJDWX717014 | Long             | STIV             | RF                | US        |   4416022 | PA      | $4416022.16   | 1.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Qnity Electronics Inc.               | Qnity Electronics, Inc.                               | CUSIP: 74743L100<br>LEI: 254900RSUG4J9TFFZX53 | Long             | EC               | CORP              | US        |     48101 | NS      | $4626354.18   | 1.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Range Resources Corp.                | Range Resources Corporation                           | CUSIP: 75281A109<br>LEI: H3Y3WLYCX0BTO1TRW162 | Long             | EC               | CORP              | US        |    102219 | NS      | $3868989.15   | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Regal Rexnord Corporation            | Regal Rexnord Corporation                             | CUSIP: 758750103<br>LEI: QH78R09VCJGQKPBPYU33 | Long             | EC               | CORP              | US        |     50276 | NS      | $8119574.00   | 3.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Semtech Corporation                  | Semtech Corporation                                   | CUSIP: 816850101<br>LEI: 549300J7WUY317SW6O61 | Long             | EC               | CORP              | US        |     44540 | NS      | $3552065.00   | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Sensient Technologies Corp           | Sensient Technologies Corporation                     | CUSIP: 81725T100<br>LEI: CMMZHMFZQG86EI7WZU92 | Long             | EC               | CORP              | US        |     27538 | NS      | $2602891.76   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Champion Homes Inc.                  | Champion Homes, Inc.                                  | CUSIP: 830830105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    120929 | NS      | $9478415.02   | 3.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Sun Communities, Inc.                | Sun Communities, Inc.                                 | CUSIP: 866674104<br>LEI: 549300H5GEOJYN41ZG57 | Long             | EC               | CORP              | US        |     46211 | NS      | $5888667.73   | 2.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Teledyne Technologies Inc            | Teledyne Technologies, Inc.                           | CUSIP: 879360105<br>LEI: 549300VSMO9KYQWDND94 | Long             | EC               | CORP              | US        |     14384 | NS      | $8922395.20   | 3.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Terreno Realty Corporation           | Terreno Realty Corporation                            | CUSIP: 88146M101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     94822 | NS      | $5835345.88   | 2.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Truist Financial Corp.               | Truist Financial Corporation                          | CUSIP: 89832Q109<br>LEI: 549300DRQQI75D2JP341 | Long             | EC               | CORP              | US        |    134481 | NS      | $6915013.02   | 2.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Vail Resorts, Inc.                   | Vail Resorts, Inc.                                    | CUSIP: 91879Q109<br>LEI: 529900PSZHRNU9HKH870 | Long             | EC               | CORP              | US        |     17542 | NS      | $2334313.94   | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Valvoline Inc                        | Valvoline, Inc.                                       | CUSIP: 92047W101<br>LEI: 549300CMHPBEY6VPOT75 | Long             | EC               | CORP              | US        |    133275 | NS      | $4360758.00   | 1.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Victorias Secret and Co              | Victoria's Secret & Company                           | CUSIP: 926400102<br>LEI: 5493006T3O70U3UWVF17 | Long             | EC               | CORP              | US        |     43505 | NS      | $2371457.55   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Vontier Corporation                  | Vontier Corporation                                   | CUSIP: 928881101<br>LEI: 549300VVSQLG4P5K4639 | Long             | EC               | CORP              | US        |    221283 | NS      | $8298112.50   | 3.15%             |  |  |  | No            |                  1 | On Loan: No      |
| WillScot Holdings Corporation        | WillScot Holdings Corporation                         | CUSIP: 971378104<br>LEI: 549300HJ4VIXF476Q166 | Long             | EC               | CORP              | US        |    238813 | NS      | $4783424.39   | 1.82%             |  |  |  | No            |                  1 | On Loan: —       |
| Woodward Inc.                        | Woodward, Inc.                                        | CUSIP: 980745103<br>LEI: YPYKXXTR8TFDH54ZMB45 | Long             | EC               | CORP              | US        |     23552 | NS      | $7485767.68   | 2.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Xylem, Inc.                          | Xylem Inc                                             | CUSIP: 98419M100<br>LEI: 549300DF5MV96DRYLQ48 | Long             | EC               | CORP              | US        |     37384 | NS      | $5154132.08   | 1.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Zoominfo Technologies Inc            | ZoomInfo Technologies, Inc.                           | CUSIP: 98980F104<br>LEI: 2549008GSAHW4UWFEM58 | Long             | EC               | CORP              | US        |    451829 | NS      | $3637223.45   | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| STIT GOVT AND AGENCY INST            | INVESCO STIT GOVT & AGENCY-INST (                     | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | US        |     62688 | PA      | $62688.19     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| CRH PLC                              | CRH plc                                               | CUSIP: G25508105<br>LEI: 549300MIDJNNTH068E74 | Long             | EC               | CORP              | US        |     50090 | NS      | $6131516.90   | 2.33%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-01-31

**Name of Applicant:** CRM Mutual Fund Trust

**Signature:** Zachary Richmond

**Name of Signer:** Zachary Richmond

**Title:** Treasurer