# EDGAR Filing Document

**Accession Number:** 0001750821
**File Stem:** 0000910472-26-005783
**Filing Date:** 2026-4
**Character Count:** 173809
**Document Hash:** 33ec3298d204ea2b1c6b3b7ff17d9eca
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000910472-26-005783.hdr.sgml**: 20260427

**ACCESSION NUMBER**: 0000910472-26-005783

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260228

**FILED AS OF DATE**: 20260427

**DATE AS OF CHANGE**: 20260427

**PERIOD START**: 20260531

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Exchange Place Advisors Trust
- **CENTRAL INDEX KEY:** 0001750821

**ORGANIZATION NAME:**
- **EIN:** 462828241
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0531

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23373
- **FILM NUMBER:** 26897865

**BUSINESS ADDRESS:**
- **STREET 1:** 10 SOUTH LASALLE STREET, SUITE 1925
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60603
- **BUSINESS PHONE:** (312) 857-2160

**MAIL ADDRESS:**
- **STREET 1:** 10 SOUTH LASALLE STREET, SUITE 1925
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60603

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** North Square Investments Trust
- **DATE OF NAME CHANGE:** 20180821

## Series and Classes Contracts Data

### NORTH SQUARE PREFERRED AND INCOME SECURITIES FUND (Series ID: S000063488)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000205685 | CLASS I      | ORDNX           |

## Nport-Ex

North

Square

Spectrum

Alpha

Fund

Schedule

of

Investments

February

28,

2026

(Unaudited)

Sh

ar

e

s

F

a

i

r

V

a

lu

e

EXCHANGE-TRADED

FUNDS

—

2.2%

6,400

iShares®

Russell

2000

ETF

$

1,673,024

TOTAL

EXCHANGE-TRADED

FUNDS

(Cost $1,510,982)

1,673,024

MUTUAL

FUNDS

—

97.5%

2,319,930

North

Square

Dynamic

Small

Cap

Fund,

Class

I

(a)(b) 39,485,209

1,084,438

North

Square

Kennedy

MicroCap

Fund,

Class

I

(a) 14,845,962

1,361,324

North

Square

Select

Small

Cap

Fund,

Class

I

(a) 18,582,066

TOTAL

MUTUAL

FUNDS

(Cost $56,993,519)

72,913,237

SHORT-TERM

INVESTMENTS

—

0.5%

354,421

First

American

Treasury

Obligations

Fund,

Class

X,

3.60%

(c) 354,421

TOTAL

SHORT-TERM

INVESTMENTS

(Cost

$354,421)

354,421

TOTAL

INVESTMENTS

—

100.2%

(Cost

$58,858,922)

$

74,940,682

Liabilities

in

Excess

of

Other

Assets —

(0.2)%

(125,856)

NET

ASSETS

—

100.00%

$

74,814,826

(a) Affiliated

Company.

(b) Represents

an

investment

greater

than

25%

of

the

Fund's

net

assets.

Performance

of

the

Fund

may

be

adversely

impacted

by

concentrated

investments

in

securities.

As

of

February

28,

2026,

the

percentage

of

net

assets

invested

in

North

Square

Dynamic

Small

Cap

Fund,

Class

I

was

52.8%

of

the

Fund.

(c) Rate

disclosed

is

the

seven

day

effective

yield

as

of

February

28,

2026. ETF

-

Exchange-Traded

Funds

North

Square

Dynamic

Small

Cap

Fund

Schedule

of

Investments

February

28,

2026

(Unaudited)

Sh

ar

e

s

F

a

i

r

V

a

lu

e

COMMON

STOCKS

—

99.2%

COMMUNICATIONS

—

1.0%

ADVERTISING

&

MARKETING

—

0.1%

31,842

Magnite,

Inc.

(a) $

433,688

ENTERTAINMENT

CONTENT

—

0.1%

48,444

AMC

Networks,

Inc.,

Class

A

(a) 395,788

5,730

Sphere

Entertainment

Co.

(a) 681,927

1,077,715

INTERNET

MEDIA

&

SERVICES

—

0.3%

947,602

Nextdoor

Holdings,

Inc.

(a) 1,658,304

37,620

Upwork,

Inc.

(a) 504,860

2,163,164

TELECOMMUNICATIONS

—

0.5%

29,910

EchoStar

Corp.,

Class

A

(a) 3,455,502

TOTAL COMMUNICATIONS

7,130,069

CONSUMER

DISCRETIONARY

—

11.6%

APPAREL

&

TEXTILE

PRODUCTS

—

0.3%

60,270

Levi

Strauss

&

Co.,

Class

A

1,335,583

21,214

Rocky

Brands,

Inc.

958,873

2,294,456

AUTOMOTIVE

—

1.5%

18,459

Dorman

Products,

Inc.

(a) 2,175,578

206,283

Garrett

Motion,

Inc.

4,199,922

93,552

Holley,

Inc.

(a) 381,692

71,567

Motorcar

Parts

of

America,

Inc.

(a) 740,003

66,624

Standard

Motor

Products,

Inc.

2,643,640

10,140,835

CONSUMER

SERVICES

—

3.0%

39,990

Adtalem

Global

Education,

Inc.

(a) 3,919,020

29,590

Bright

Horizons

Family

Solutions,

Inc.

(a) 2,205,047

18,360

Grand

Canyon

Education,

Inc.

(a) 2,920,525

178,160

Laureate

Education,

Inc.

(a) 5,761,694

64,675

Stride,

Inc.

(a) 5,457,277

20,263,563

E-COMMERCE

DISCRETIONARY

—

0.5%

133,821

Revolve

Group,

Inc.

(a) 3,366,936

HOME

CONSTRUCTION

—

2.1%

18,032

Century

Communities,

Inc.

1,212,291

68,928

Interface,

Inc.

2,170,543

17,820

M/I

Homes,

Inc.

(a) 2,533,291

129,265

Taylor

Morrison

Home

Corp.

(a) 8,517,271

14,433,396

North

Square

Dynamic

Small

Cap

Fund

Schedule

of

Investments

(continued)

February

28,

2026

(Unaudited)

Sh

ar

e

s

F

a

i

r

V

a

lu

e

COMMON

STOCKS

—

99.2%

(Continued)

CONSUMER

DISCRETIONARY

—

11.6%

(Continued)

LEISURE

FACILITIES

&

SERVICES

—

2.6%

115,577

Accel

Entertainment,

Inc.

(a) $

1,312,955

143,540

Lindblad

Expeditions

Holdings,

Inc.

(a) 2,829,173

108,709

Madison

Square

Garden

Entertainment

Corp.

(a) 6,863,886

7,637

Monarch

Casino

&

Resort,

Inc.

733,916

599,430

Super

Group

(SGHC)

Ltd.

6,413,901

18,153,831

LEISURE

PRODUCTS

—

0.2%

272,920

Peloton

Interactive,

Inc.,

Class

A

(a) 1,097,139

RETAIL

-

DISCRETIONARY

—

1.4%

15,830

Abercrombie

&

Fitch

Co.,

Class

A

(a) 1,548,174

117,820

American

Eagle

Outfitters,

Inc.

2,894,837

74,379

Urban

Outfitters,

Inc.

(a) 4,923,890

9,366,901

WHOLESALE

-

DISCRETIONARY

—

0.0%

(b) 5,100

ePlus,

Inc.

411,366

TOTAL CONSUMER

DISCRETIONARY

79,528,423

CONSUMER

STAPLES

—

2.8%

BEVERAGES

—

1.1%

12,040

Coca-Cola

Consolidated,

Inc.

2,436,896

81,602

Vita

Coco

Co.,

Inc.

(The)

(a) 4,737,812

7,174,708

FOOD

—

1.6%

190,352

Dole

PLC

3,053,246

21,212

Marzetti

Co.

(The)

3,485,980

52,553

Nature's

Sunshine

Products,

Inc.

(a) 1,454,667

367,785

SunOpta,

Inc.

(a) 2,383,247

26,435

USANA

Health

Sciences,

Inc.

(a) 568,881

10,946,021

TOBACCO

&

CANNABIS

—

0.1%

7,160

Turning

Point

Brands,

Inc.

980,849

TOTAL CONSUMER

STAPLES

19,101,578

ENERGY

—

7.7%

OIL

&

GAS

PRODUCERS

—

2.0%

424,631

Clean

Energy

Fuels

Corp.

(a) 959,666

123,400

CNX

Resources

Corp.

(a) 5,155,652

38,660

Delek

US

Holdings,

Inc.

1,473,333

131,123

PBF

Energy,

Inc.,

Class

A

4,667,979

21,728

Summit

Midstream

Corp.

(a) 641,193

269,154

W&T

Offshore,

Inc.

(a) 713,258

13,611,081

North

Square

Dynamic

Small

Cap

Fund

Schedule

of

Investments

(continued)

February

28,

2026

(Unaudited)

Sh

ar

e

s

F

a

i

r

V

a

lu

e

COMMON

STOCKS

—

99.2%

(Continued)

ENERGY

—

7.7%

(Continued)

OIL

&

GAS

SERVICES

&

EQUIPMENT

—

2.9%

350,300

Borr

Drilling

Ltd.

(a) $

2,147,339

69,078

Bristow

Group,

Inc.

(a) 3,295,021

155,072

Flotek

Industries,

Inc.

(a) 2,380,355

33,012

Forum

Energy

Technologies,

Inc.

(a) 1,915,686

100,702

Matrix

Service

Co.

(a) 1,106,715

116,436

NPK International,

Inc.

(a) 1,680,171

96,843

Oceaneering

International,

Inc.

(a) 3,437,927

7,810

Solaris

Energy

Infrastructure,

Inc.,

Class

A

387,610

549,320

Transocean

Ltd.

3,559,594

19,910,418

RENEWABLE

ENERGY

—

2.6%

148,410

American

Superconductor

Corp.

(a) 4,835,198

279,159

Array

Technologies,

Inc.

(a) 2,116,025

49,931

EnerSys

8,296,036

165,249

Green

Plains,

Inc.

(a) 2,268,869

49,920

Shoals

Technologies

Group,

Inc.,

Class

A

(a) 296,025

17,812,153

TRANSPORTATION

&

LOGISTICS

—

0.2%

18,050

Scorpio

Tankers,

Inc.

1,427,394

TOTAL ENERGY

52,761,046

FINANCIALS

—

12.1%

ASSET

MANAGEMENT

—

0.7%

62,927

F&G

Annuities

&

Life,

Inc.

1,425,297

19,112

Oppenheimer

Holdings,

Inc.,

Class

A

1,649,174

10,986

Virtus

Investment

Partners,

Inc.

1,520,023

4,594,494

BANKING

—

6.0%

58,323

Axos

Financial,

Inc.

(a) 5,063,603

68,890

Banc

of

California,

Inc.

1,272,398

21,366

Bank

OZK

994,801

13,924

Bankwell

Financial

Group,

Inc.

650,251

92,155

California

BanCorp

1,687,358

65,972

Carter

Bankshares,

Inc.

(a) 1,374,856

21,757

CF

Bankshares,

Inc.

657,497

52,791

Colony

Bankcorp,

Inc.

(a) 1,046,845

55,708

Community

West

Bancshares

1,294,097

22,812

Independent

Bank

Corp.

792,717

137,369

Kearny

Financial

Corp.

1,050,873

80,851

Live

Oak

Bancshares,

Inc.

2,932,466

31,343

Meridian

Corp.

(a) 609,308

69,280

Midland

States

Bancorp,

Inc.

1,533,166

66,343

Northfield

Bancorp,

Inc.

885,016

North

Square

Dynamic

Small

Cap

Fund

Schedule

of

Investments

(continued)

February

28,

2026

(Unaudited)

Sh

ar

e

s

F

a

i

r

V

a

lu

e

COMMON

STOCKS

—

99.2%

(Continued)

FINANCIALS

—

12.1%

(Continued)

BANKING

—

6.0%

(Continued)

81,160

OFG

Bancorp

$

3,252,893

65,965

Orrstown

Financial

Services,

Inc.

2,370,782

54,299

Peapack

Gladstone

Financial

Corp.

1,818,473

23,267

Pinnacle

Financial

Partners,

Inc.

2,111,713

25,147

Ponce

Financial

Group,

Inc.

(a) 408,639

19,869

Southern

First

Bancshares,

Inc.,

151938513

(a) 1,109,485

25,008

Southern

Missouri

Bancorp,

Inc.

1,548,245

52,140

Texas

Capital

Bancshares,

Inc.

(a) 4,968,942

14,197

Third

Coast

Bancshares,

Inc.

(a) 562,343

28,674

Univest

Financial

Corp.

962,013

40,958,780

INSTITUTIONAL

FINANCIAL

SERVICES

—

2.0%

507,144

BGC

Group,

Inc.,

Class

A

4,828,011

159,990

Marex

Group

PLC

6,953,165

44,300

Virtu

Financial,

Inc.,

Class

A

1,834,463

13,615,639

INSURANCE

—

2.6%

33,030

Hamilton

Insurance

Group

Ltd.

(a) 1,043,418

75,280

Jackson

Financial,

Inc.

8,241,654

95,840

Kemper

Corp.

3,097,549

39,986

Mercury

General

Corp.

3,621,932

10,271

NMI

Holdings,

Inc.,

Class

A

(a) 403,753

4,770

Selective

Insurance

Group,

Inc.

400,871

77,797

Tiptree,

Inc.

1,324,883

18,134,060

SPECIALTY

FINANCE

—

0.8%

59,890

Chimera

Investment

Corp.

815,103

158,410

LendingClub

Corp.

(a) 2,361,893

241,840

Rithm

Capital

Corp.

2,430,492

5,607,488

TOTAL FINANCIALS

82,910,461

HEALTH

CARE

—

15.8%

BIOTECH

&

PHARMA

—

11.8%

183,498

Acadia

Pharmaceuticals,

Inc.

(a) 4,506,711

72,594

Agios

Pharmaceuticals,

Inc.

(a) 2,194,517

34,893

Axsome

Therapeutics,

Inc.

(a) 5,718,614

140,170

Bicara

Therapeutics,

Inc.

(a) 2,352,053

92,050

BridgeBio

Pharma,

Inc.

(a) 6,119,484

17,980

Cogent

Biosciences,

Inc.

(a) 698,523

18,130

CRISPR

Therapeutics

A.G.

(a) 1,090,338

131,875

Day

One

Biopharmaceuticals,

Inc.

(a) 1,397,875

115,451

Design

Therapeutics,

Inc.

(a) 1,205,308

9,575

Dianthus

Therapeutics,

Inc.

(a) 528,444

North

Square

Dynamic

Small

Cap

Fund

Schedule

of

Investments

(continued)

February

28,

2026

(Unaudited)

Sh

ar

e

s

F

a

i

r

V

a

lu

e

COMMON

STOCKS

—

99.2%

(Continued)

HEALTH

CARE

—

15.8%

(Continued)

BIOTECH

&

PHARMA

—

11.8%

(Continued)

150,980

Dyne

Therapeutics,

Inc.

(a) $

2,358,308

319,793

Fortrea

Holdings,

Inc.

(a) 3,428,181

39,060

Harmony

Biosciences

Holdings,

Inc.

(a) 1,114,772

89,301

Janux

Therapeutics,

Inc.

(a) 1,215,387

28,250

Kodiak

Sciences,

Inc.

(a) 757,100

111,420

Liquidia

Corp.

(a) 3,456,248

90,374

Mineralys

Therapeutics,

Inc.

(a) 2,644,343

20,340

Mirum

Pharmaceuticals,

Inc.

(a) 1,877,179

140,290

Nuvation

Bio,

Inc.

(a) 829,114

20,837

Praxis

Precision

Medicines,

Inc.

(a) 7,016,860

229,799

Savara,

Inc.

(a) 1,383,390

266,150

Syndax

Pharmaceuticals,

Inc.

(a) 5,778,116

41,968

TG

Therapeutics,

Inc.

(a) 1,262,817

43,880

Travere

Therapeutics,

Inc.

(a) 1,307,185

72,914

Tyra

Biosciences,

Inc.

(a) 2,428,765

44,850

Ultragenyx

Pharmaceutical,

Inc.

(a) 1,049,041

60,330

Vaxcyte,

Inc.

(a) 3,724,774

256,351

Verastem,

Inc.

(a) 1,466,328

158,637

Viridian

Therapeutics,

Inc.

(a) 4,660,755

24,797

Xenon

Pharmaceuticals,

Inc.

(a) 1,071,974

249,088

Xeris

Biopharma

Holdings,

Inc.

(a) 1,524,419

179,361

Zymeworks,

Inc.

(a) 4,177,318

80,344,241

HEALTH

CARE

FACILITIES

&

SERVICES

—

1.7%

341,849

Aveanna

Healthcare

Holdings,

Inc.

(a) 2,516,009

34,640

BrightSpring

Health

Services,

Inc.

(a) 1,435,135

68,050

PACS

Group,

Inc.

(a) 2,484,505

66,720

Progyny,

Inc.

(a) 1,180,277

273,608

Select

Medical

Holdings

Corp.

4,095,912

11,711,838

MEDICAL

EQUIPMENT

&

DEVICES

—

2.3%

78,160

Adaptive

Biotechnologies

Corp.

(a) 1,252,123

53,018

Bioventus,

Inc.

(a) 465,498

389,192

Butterfly

Network,

Inc.

(a) 1,475,038

67,666

Delcath

Systems,

Inc.

(a) 602,227

4,750

Glaukos

Corp.

(a) 571,900

28,401

iRadimed

Corp.

(a) 2,940,356

94,593

NeuroPace,

Inc.

(a) 1,379,166

174,210

NovoCure

Ltd.

(a) 2,381,451

76,353

RxSight,

Inc.

(a) 571,120

48,451

SI-BONE,

Inc.

(a) 751,959

58,893

Tactile

Systems

Technology,

Inc.

(a) 1,724,976

122,786

Varex

Imaging

Corp.

(a) 1,617,092

15,732,906

North

Square

Dynamic

Small

Cap

Fund

Schedule

of

Investments

(continued)

February

28,

2026

(Unaudited)

Sh

ar

e

s

F

a

i

r

V

a

lu

e

COMMON

STOCKS

—

99.2%

(Continued)

HEALTH

CARE

—

15.8%

(Continued)

MEDICAL

EQUIPMENT

&

DEVICES

—

2.3%

(Continued)

TOTAL HEALTH

CARE

$

107,788,985

INDUSTRIALS

—

23.2%

AEROSPACE

&

DEFENSE

—

1.5%

13,860

Astronics

Corp.

(a) 1,117,393

16,960

Ducommun,

Inc.

(a) 2,096,086

135,001

Innovative

Solutions

and

Suport,

Inc.

(a) 3,501,926

6,820

Moog,

Inc.,

Class

A

2,301,273

130,145

Ondas

Holdings,

Inc.

(a) 1,311,862

10,328,540

COMMERCIAL

SUPPORT

SERVICES

—

1.7%

37,270

ABM

Industries,

Inc.

1,658,515

26,150

Brink's

Co.

(The)

3,053,536

5,294

CRA

International,

Inc.

914,062

50,533

Innodata,

Inc.

(a) 2,232,043

20,479

V2X

Inc.

(a) 1,428,410

25,851

Willdan

Group,

Inc.

(a) 2,304,358

11,590,924

ELECTRICAL

EQUIPMENT

—

5.1%

94,240

Atmus

Filtration

Technologies,

Inc.

6,081,307

35,830

Bloom

Energy

Corp.,

Class

A

(a) 5,577,656

52,113

Napco

Security

Technologies,

Inc.

2,428,987

85,010

NEXTracker,

Inc.,

Class

A

(a) 8,934,551

67,619

nLight,

Inc.

(a) 3,799,512

23,664

Watts

Water

Technologies,

Inc.,

Class

A

7,779,303

34,601,316

ENGINEERING

&

CONSTRUCTION

—

8.4%

225,429

Centuri

Holdings,

Inc.

(a) 6,988,299

20,321

Energy

Services

of

America

Corp.

317,414

34,150

Everus

Construction

Group,

Inc.

(a) 4,127,710

125,122

Frontdoor,

Inc.

(a) 8,579,616

29,856

Great

Lakes

Dredge

&

Dock

Corp.

(a) 506,059

4,369

IES

Holdings,

Inc.

(a) 2,164,184

94,475

MISTRAS

Group,

Inc.

(a) 1,443,578

198,898

Montrose

Environmental

Group,

Inc.

(a) 5,811,800

19,146

MYR

Group,

Inc.

(a) 5,168,654

132,521

Orion

Group

Holdings,

Inc.

(a) 1,819,513

72,419

Primoris

Services

Corp.

10,914,992

9,870

Sterling

Infrastructure,

Inc.

(a) 4,225,643

75,132

Tutor

Perini

Corp.

5,662,699

57,730,161

INDUSTRIAL

INTERMEDIATE

PRODUCTS

—

1.0%

60,154

Insteel

Industries,

Inc.

2,242,541

North

Square

Dynamic

Small

Cap

Fund

Schedule

of

Investments

(continued)

February

28,

2026

(Unaudited)

Sh

ar

e

s

F

a

i

r

V

a

lu

e

COMMON

STOCKS

—

99.2%

(Continued)

INDUSTRIALS

—

23.2%

(Continued)

INDUSTRIAL

INTERMEDIATE

PRODUCTS

—

1.0%

(Continued)

18,303

Mueller

Industries,

Inc.

$

2,159,022

66,140

Xometry,

Inc.,

Class

A

(a) 2,712,732

7,114,295

MACHINERY

—

1.6%

71,612

Douglas

Dynamics,

Inc.

3,288,423

20,937

Federal

Signal

Corp.

2,437,695

49,973

Luxfer

Holdings

PLC

643,152

90,893

Manitowoc

Company,

Inc.

(The)

1,340,672

104,790

Mueller

Water

Products,

Inc.,

Class

A

3,136,365

10,846,307

MARINE

TRANSPORTATION

—

1.9%

76,579

Matson,

Inc.

12,722,069

TRANSPORTATION

&

LOGISTICS

—

1.5%

29,835

Covenant

Logistics

Group,

Inc.,

Class

A

878,343

40,940

Kirby

Corp.

(a) 5,314,012

77,146

Pangaea

Logistics

Solutions

Ltd.

721,315

50,493

Proficient

Auto

Logistics,

Inc.

(a) 382,232

185,261

Safe

Bulkers,

Inc.

1,215,312

83,413

Sun

Country

Airlines

Holdings,

Inc.

(a) 1,641,568

10,152,782

TRANSPORTATION

EQUIPMENT

—

0.5%

63,957

Blue

Bird

Corp.

(a) 3,726,774

TOTAL INDUSTRIALS

158,813,168

MATERIALS

—

5.8%

CHEMICALS

—

1.9%

50,230

Axalta

Coating

Systems

Ltd.

(a) 1,678,184

42,648

Balchem

Corp.

7,737,627

143,425

Perimeter

Solutions,

Inc.

(a) 3,367,619

12,783,430

CONSTRUCTION

MATERIALS

—

0.4%

112,870

Aspen

Aerogels,

Inc.

(a) 352,155

18,533

United

States

Lime

&

Minerals,

Inc.

2,115,727

2,467,882

CONTAINERS

&

PACKAGING

—

0.3%

63,840

O-I

Glass,

Inc.

855,456

175,197

Ranpak

Holdings

Corp.

(a) 897,008

16,958

TriMas

Corp.

662,719

2,415,183

FORESTRY,

PAPER

&

WOOD

PRODUCTS

—

0.6%

207,827

Magnera

Corp.

(a) 2,691,360

North

Square

Dynamic

Small

Cap

Fund

Schedule

of

Investments

(continued)

February

28,

2026

(Unaudited)

Sh

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e

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F

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V

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COMMON

STOCKS

—

99.2%

(Continued)

MATERIALS

—

5.8%

(Continued)

FORESTRY,

PAPER

&

WOOD

PRODUCTS

—

0.6%

(Continued)

152,641

Mativ

Holdings,

Inc.

$

1,654,628

4,345,988

METALS

&

MINING

—

2.1%

200,333

Constellium

SE,

Class

A

(a) 4,986,289

120,873

Hallador

Energy

Co.

(a) 2,197,471

56,402

Hecla

Mining

Co.

1,404,974

68,980

Warrior

Met

Coal,

Inc.

5,741,895

14,330,629

STEEL

—

0.5%

297,896

Cleveland-Cliffs,

Inc.

(a) 3,175,571

TOTAL MATERIALS

39,518,683

REAL

ESTATE

—

5.1%

REAL

ESTATE

SERVICES

—

1.2%

347,600

Cushman

&

Wakefield

Ltd.

(a) 4,661,316

54,018

Marcus

&

Millichap,

Inc.

1,426,615

165,198

Newmark

Group,

Inc.,

Class

A

2,398,675

8,486,606

REIT

—

3.9%

63,986

American

Assets

Trust,

Inc.

1,249,007

128,380

American

Healthcare

REIT,

Inc.

6,706,571

91,231

Chatham

Lodging

Trust

703,391

31,410

EPR

Properties

1,866,068

173,954

Hudson

Pacific

Properties,

Inc.

(a) 1,259,427

136,097

Industrial

Logistics

Properties

Trust

797,528

91,155

Outfront

Media,

Inc.

2,626,176

88,767

Postal

Realty

Trust,

Inc.,

Class

A

1,840,140

304,290

Sabra

Health

Care

REIT,

Inc.

6,253,159

193,792

Safehold,

Inc.

3,127,803

26,429,270

TOTAL REAL

ESTATE

34,915,876

TECHNOLOGY

—

12.0%

SEMICONDUCTORS

—

2.1%

73,267

Ambarella,

Inc.

(a) 4,420,931

13,420

Cohu,

Inc.

(a) 405,284

18,967

Kulicke

&

Soffa

Industries,

Inc.

1,322,379

185,299

MaxLinear,

Inc.,

Class

A

(a) 3,229,762

28,434

Rambus,

Inc.

(a) 2,833,732

23,570

Semtech

Corp.

(a) 2,126,485

14,338,573

SOFTWARE

—

5.1%

114,336

Alarm.com

Holdings,

Inc.

(a) 5,470,977

North

Square

Dynamic

Small

Cap

Fund

Schedule

of

Investments

(continued)

February

28,

2026

(Unaudited)

Sh

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COMMON

STOCKS

—

99.2%

(Continued)

TECHNOLOGY

—

12.0%

(Continued)

SOFTWARE

—

5.1%

(Continued)

50,758

Amplitude,

Inc.,

Class

A

(a) $

370,533

29,380

Appian

Corp.,

Class

A

(a) 783,564

162,970

AvePoint,

Inc.

(a) 1,756,817

93,922

Bandwidth,

Inc.,

Class

A

(a) 1,391,924

37,604

BioAge

Labs,

Inc.

(a) 837,441

168,181

Cerence,

Inc.

(a) 1,330,312

395,741

Fastly,

Inc.

(a) 7,566,568

37,140

Five9,

Inc.

(a) 647,722

685,266

Freshworks,

Inc.,

Class

A

(a) 5,358,780

46,080

GigaCloud

Technology,

Inc.,

Class

A

(a) 2,043,187

163,581

Phreesia,

Inc.

(a) 2,016,954

127,741

Planet

Labs

PBC

(a) 3,083,668

165,749

PubMatic,

Inc.,

Class

A

(a) 1,342,567

40,300

Zeta

Global

Holdings

Corp.,

Class

A

(a) 683,085

34,684,099

TECHNOLOGY

HARDWARE

—

3.0%

32,510

Avnet,

Inc.

2,140,458

45,270

Credo

Technology

Group

Holding

Ltd.

(a) 5,082,463

146,256

Cricut,

Inc.,

Class

A

628,901

39,409

Extreme

Networks,

Inc.

(a) 550,938

9,638

Fabrinet

(a) 5,258,782

89,440

Rigetti

Computing,

Inc.

(a) 1,558,045

24,120

TTM

Technologies,

Inc.

(a) 2,514,269

26,990

Viasat,

Inc.

(a) 1,235,602

31,950

Vistance

Networks,

Inc.

(a) 561,361

166,345

Xperi,

Inc.

(a) 1,019,695

20,550,514

TECHNOLOGY

SERVICES

—

1.8%

1,500,156

Bit

Digital,

Inc.

(a) 2,505,261

54,440

Cipher

Digital,

Inc.

(a) 849,264

111,530

Cleanspark,

Inc.

(a) 1,109,724

174,769

ExlService

Holdings,

Inc.

(a) 5,461,531

35,400

Genpact

Ltd.

1,406,088

201,392

Telos

Corp.

(a) 809,596

37,820

TeraWulf,

Inc.

(a) 613,440

12,754,904

TOTAL TECHNOLOGY

82,328,090

UTILITIES

—

2.1%

ELECTRIC

UTILITIES

—

2.1%

115,890

Avista

Corp.

4,707,452

9,880

Oklo,

Inc.

(a) 621,946

139,350

Portland

General

Electric

Co.

7,519,326

North

Square

Dynamic

Small

Cap

Fund

Schedule

of

Investments

(continued)

February

28,

2026

(Unaudited)

Sh

ar

e

s

F

a

i

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V

a

lu

e

COMMON

STOCKS

—

99.2%

(Continued)

UTILITIES

—

2.1%

(Continued)

ELECTRIC

UTILITIES

—

2.1%

(Continued)

134,141

XPLR

Infrastructure

LP

$

1,420,553

14,269,277

TOTAL UTILITIES

14,269,277

TOTAL

COMMON

STOCKS

(Cost $594,727,234)

679,065,656

EXCHANGE-TRADED

FUNDS

—

0.1%

1,060

iShares®

Russell

2000

ETF

277,094

TOTAL

EXCHANGE-TRADED

FUNDS

(Cost $276,411)

277,094

RIGHTS

—

0.0%

(b) HEALTH

CARE

—

0.0%

29,400

Novartis

A.G.

CVR

(a) —

—

TOTAL

RIGHTS

(Cost $–)

—

SHORT-TERM

INVESTMENTS

—

0.9%

6,220,739

First

American

Treasury

Obligations

Fund,

Class

X,

3.60%

(c) 6,220,739

TOTAL

SHORT-TERM

INVESTMENTS

(Cost

$6,220,739)

6,220,739

TOTAL

INVESTMENTS

—

100.2%

(Cost

$601,224,384)

$

685,563,489

Liabilities

in

Excess

of

Other

Assets —

(0.2)%

(1,031,077)

NET

ASSETS

—

100.00%

$

684,532,412

(a) Non-income

producing

security.

(b) Percentage

rounds

to

less

than

0.1%.

(c) Rate

disclosed

is

the

seven

day

effective

yield

as

of

February

28,

2026. ETF

-

Exchange-Traded

Funds

North

Square

Multi

Strategy

Fund

Schedule

of

Investments

February

28,

2026

(Unaudited)

Sh

ar

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s

F

a

i

r

V

a

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EXCHANGE-TRADED

FUNDS

—

53.0%

13,500

Invesco®

S&P

500®

GARP

ETF

$

1,557,495

24,000

iShares®

MSCI

EAFE

ETF

2,529,120

15,000

iShares®

MSCI

Emerging

Markets

ETF

938,700

4,300

iShares®

Russell

Mid-Cap

Growth

ETF

588,025

175,931

North

Square

RCIM

Tax-Advantaged

Preferred

and

Income

Securities

ETF

(a) 4,544,298

20,400

Vanguard®

Dividend

Appreciation

ETF

4,645,080

7,100

Vanguard®

Growth

ETF

3,272,177

12,485

Vanguard®

Value

ETF

2,587,641

TOTAL

EXCHANGE-TRADED

FUNDS

(Cost $16,309,829)

20,662,536

MUTUAL

FUNDS

—

46.2%

431,155

North

Square

Altrinsic

International

Equity

Fund,

Class

I

(a) 5,574,830

338,602

North

Square

Dynamic

Small

Cap

Fund,

Class

I

(a) 5,763,001

90,491

North

Square

Kennedy

MicroCap

Fund,

Class

I

(a) 1,238,818

349,778

North

Square

McKee

Bond,

Class

I

(a) 3,161,989

80,293

North

Square

Select

Small

Cap

Fund,

Class

I

(a) 1,096,006

116,089

North

Square

Strategic

Income

Fund,

Class

I

(a) 1,173,661

TOTAL

MUTUAL

FUNDS

(Cost $14,272,800)

18,008,305

SHORT-TERM

INVESTMENTS

—

0.7%

273,249

First

American

Treasury

Obligations

Fund,

Class

X,

3.60%

(b) 273,249

TOTAL

SHORT-TERM

INVESTMENTS

(Cost

$273,249)

273,249

TOTAL

INVESTMENTS

—

99.9%

(Cost

$30,855,878)

$

38,944,090

Other

Assets

in

Excess

of

Liabilities

—

0.1%

26,267

NET

ASSETS

—

100.00%

$

38,970,357

(a) Affiliated

Company.

(b) Rate

disclosed

is

the

seven

day

effective

yield

as

of

February

28,

2026. ETF

-

Exchange-Traded

Funds

MSCI

-

Morgan

Stanley

Capital

International

North

Square

Preferred

and

Income

Securities

Fund

Schedule

of

Investments

February

28,

2026

(Unaudited)

Sh

ar

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s

F

a

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V

a

lu

e

PREFERRED

STOCKS

—

1.7%

FINANCIALS

—

1.3%

BANKING

—

1.3%

1,532

Bank

Of

America

Corp.,

Series

L,

7.25%

$

1,904,292

2,368

Wells

Fargo

&

Co.,

Series

L,

7.50%

(a) 2,917,352

4,821,644

TOTAL

FINANCIALS

(Cost $4,839,036)

4,821,644

UTILITIES

—

0.4%

ELECTRIC

UTILITIES

—

0.4%

15,900

NextEra

Energy,

Inc.,

7.30%

896,601

10,837

Southern

Co.

(The),

Series

A,

7.13%

577,612

1,474,213

TOTAL

UTILITIES

(Cost $1,397,508)

1,474,213

TOTAL

PREFERRED

STOCKS

(Cost $6,236,544)

6,295,857

EXCHANGE-TRADED

FUNDS

—

1.3%

189,692

North

Square

RCIM

Tax-Advantaged

Preferred

and

Income

Securities

ETF

(b) 4,899,744

TOTAL

EXCHANGE-TRADED

FUNDS

(Cost $4,800,323)

4,899,744

P

r

i

nc

i

p

a

l

Amo

u

nt

($)

CORPORATE

BONDS

—

88.5%

COMMUNICATIONS

—

8.9%

ENTERTAINMENT

CONTENT

—

1.0%

5,000,000

Paramount

Global,

6.25%,

2/28/57

(c) 3,914,000

TELECOMMUNICATIONS

—

7.9%

4,800,000

Bell

Canada,

7.00%,

9/15/55

(H15T5Y

+

236bps)

(c) 5,082,907

11,000,000

Rogers

Communications,

Inc.,

7.13%,

4/15/55

(H15T5Y

+

262bps)

(c) 11,655,695

8,000,000

TELUS

Corp.,

7.00%,

10/15/55

(c) 8,445,160

5,000,000

Vodafone

Group

PLC,

5.13%,

6/04/81

(H15T5Y

+

307bps)

(c) 4,044,893

29,228,655

TOTAL COMMUNICATIONS

33,142,655

ENERGY

—

14.5%

OIL

&

GAS

PRODUCERS

—

14.5%

5,000,000

BP

Capital

Markets

PLC,

6.13%,

6/18/55

(H15T5Y

+

167bps)

(a)(c) 5,170,600

5,500,000

Enbridge,

Inc.,

7.20%,

6/27/54

(H15T5Y

+

297bps)

(c) 5,929,314

2,000,000

Enbridge,

Inc.,

5.50%,

7/15/77

(TSFR3M

+

368bps)

(c) 2,009,922

1,000,000

Enbridge,

Inc.,

5.75%,

7/15/80

(c) 1,018,541

11,815,000

Energy

Transfer

LP,

6.63%,

2/15/72

(US0003M

+

416bps)

(a)(c) 11,976,180

6,000,000

Petroleos

Mexicanos,

6.63%,

9/28/99

(a) 4,567,260

3,000,000

Phillips

Co.,

5.88%,

3/15/56

(H15T5Y

+

228bps)

(c) 3,016,965

9,000,000

Phillips

Co.,

6.20%,

3/15/56

(H15T5Y

+

217bps)

(c) 9,125,883

North

Square

Preferred

and

Income

Securities

Fund

Schedule

of

Investments

(continued)

February

28,

2026

(Unaudited)

P

r

i

nc

i

p

a

l

Amo

u

nt

($)

F

a

i

r

V

a

lu

e

CORPORATE

BONDS

—

88.5%

(Continued)

ENERGY

—

14.5%

(continued)

OIL

&

GAS

PRODUCERS

—

14.5%

(continued)

8,225,000

South

Bow

Canadian

Infrastructure

Holdings

Ltd.,

7.50%,

3/01/55

(c) $

8,735,180

2,892,000

Transcanada

Trust,

5.30%,

3/15/77

(US0003M

+

321bps)

(c) 2,913,864

54,463,709

TOTAL ENERGY

54,463,709

FINANCIALS

—

29.1%

ASSET

MANAGEMENT

—

2.9%

3,800,000

UBS

Group

AG,

7.13%,

12/31/49

(USISSO05

+

318bps)

(a)(c)(d)

3,894,954

8,000,000

UBS

Group

AG,

4.38%,

8/10/71

(a)(c) 7,285,735

11,180,689

BANKING

—

24.9%

2,000,000

Banco

Bilbao

Vizcaya

Argentaria

SA,

6.13%,

2/16/49

(USSW5

+

387bps)

(a)(c) 2,025,458

6,000,000

Banco

Santander

SA,

8.00%,

12/31/49

(H15T5Y

+

391bps)

(a)(c) 6,641,508

7,500,000

Bank

of

America

Corp.,

6.63%,

12/31/49

(H15T5Y

+

3bps)

(a)(c) 7,856,617

10,000,000

Citigroup,

Inc.,

6.95%,

2/15/80

(H15T5Y

+

273bps)

(a)(c) 10,304,610

2,000,000

Citigroup,

Inc.,

6.63%,

5/15/99

(a)(c) 2,068,852

6,405,000

Citizens

Financial

Group,

Inc.,

4.00%,

10/06/71

(a)(c) 6,373,325

4,800,000

HSBC

Holdings

PLC,

7.05%,

12/31/49

(H15T5Y

+

299bps)

(a)(c) 5,002,158

6,000,000

Huntington

Bancshares,

Inc.,

6.25%,

10/15/80

(H15T5Y

+

265bps)

(a)(c) 6,048,402

3,500,000

ING

Groep

NV,

4.25%,

10/16/69

(H15T5Y

+

286bps)

(a)(c) 3,164,635

7,500,000

JPMorgan

Chase

&

Co.,

3.65%,

12/31/69

(a)(c) 7,477,967

12,000,000

Nordea

Bank

Abp,

6.75%,

11/10/88

(H15T5Y

+

272bps)

(a)(c)(d)

12,401,584

10,000,000

Royal

Bank

of

Canada,

6.50%,

11/24/85

(c) 9,996,217

4,800,000

Svenska

Handelsbanken

AB,

4.75%,

3/01/71

(a)(c) 4,619,085

8,900,000

Truist

Financial

Corp.,

5.10%,

3/01/61

(H15T10Y

+

4bps)

(a)(c) 9,006,889

92,987,307

INSTITUTIONAL

FINANCIAL

SERVICES

—

1.3%

4,839,000

Bank

of

New

York

Mellon

Corp.,

4.63%,

12/20/49

4,838,185

TOTAL FINANCIALS

109,006,181

HEALTH

CARE

—

2.5%

HEALTH

CARE

FACILITIES

&

SERVICES

—

2.5%

4,000,000

CVS

Health

Corp.,

6.75%,

12/10/54

(H15T5Y

+

252bps)

(c) 4,163,000

5,000,000

CVS

Health

Corp.,

7.00%,

3/10/55

(H15T5Y

+

289bps)

(c) 5,262,045

9,425,045

TOTAL HEALTH

CARE

9,425,045

MATERIALS

—

1.5%

CHEMICALS

—

1.5%

8,400,000

FMC

Corp.,

8.45%,

11/01/55

(c) 5,531,991

TOTAL MATERIALS

5,531,991

North

Square

Preferred

and

Income

Securities

Fund

Schedule

of

Investments

(continued)

February

28,

2026

(Unaudited)

P

r

i

nc

i

p

a

l

Amo

u

nt

($)

F

a

i

r

V

a

lu

e

CORPORATE

BONDS

—

88.5%

(Continued)

UTILITIES

—

32.0%

ELECTRIC

UTILITIES

—

29.8%

7,000,000

Algonquin

Power

&

Utilities

Corp.,

4.75%,

1/18/82

(c) $

6,946,623

9,500,000

American

Electric

Power

Co.,

Inc.,

6.05%,

3/15/56

(H15T5Y

+

194bps)

(c) 9,537,192

7,650,000

CenterPoint

Energy,

Inc.,

6.85%,

2/15/55

(H15T5Y

+

295bps)

(c) 8,132,593

8,751,000

CMS

Energy

Corp.,

4.75%,

6/01/50

(H15T5Y

+

412bps)

(c) 8,695,667

9,000,000

Dominion

Energy,

Inc.,

6.20%,

2/15/56

(H15T10Y

+

2bps)

(c) 9,166,113

8,500,000

Duke

Energy

Corp.,

6.45%,

9/01/54

(H15T5Y

+

259bps)

(c) 8,959,595

8,000,000

Emera,

Inc.,

6.75%,

6/15/76

(c) 8,073,416

2,000,000

EUSHI

Finance,

Inc.,

7.63%,

12/15/54

(c) 2,112,780

1,000,000

EUSHI

Finance,

Inc.,

6.25%,

4/01/56

(H15T5Y

+

251bps)

(c) 1,007,669

10,000,000

Exelon

Corp.,

6.50%,

3/15/55

(H15T5Y

+

198bps)

(c) 10,470,117

8,700,000

NextEra

Energy

Capital

Holdings,

Inc.,

6.50%,

8/15/55

(H15T5Y

+

198bps)

(c) 9,227,316

10,792,000

NiSource,

Inc.,

6.38%,

3/31/55

(H15T5Y

+

253bps)

(c) 11,275,535

6,648,000

NRG

Energy,

Inc.,

10.25%,

12/31/49

(H15T5Y

+

592bps)

(a)(c)(d)

7,322,912

9,762,000

Vistra

Corp.,

8.88%,

12/31/49

(H15T5Y

+

505bps)

(a)(c)(d)

10,791,403

111,718,931

GAS

&

WATER

UTILITIES

—

2.2%

8,000,000

AltaGas

Ltd.,

7.20%,

10/15/54

(H15T5Y

+

357bps)

(c)(d) 8,362,216

TOTAL UTILITIES

120,081,147

TOTAL

CORPORATE

BONDS

(Cost $323,498,997)

331,650,728

Sh

ar

e

s

SHORT-TERM

INVESTMENTS

—

6.9%

25,810,174

First

American

Treasury

Obligations

Fund,

Class

X,

3.60%

(e) 25,810,174

TOTAL

SHORT-TERM

INVESTMENTS

(Cost

$25,810,174)

25,810,174

TOTAL

INVESTMENTS

—

98.4%

(Cost

$360,346,038)

$

368,656,503

Other

Assets

in

Excess

of

Liabilities

—

1.6%

6,151,326

NET

ASSETS

—

100.00%

$

374,807,829

(a) Security

is

perpetual

in

nature

and

has

no

stated

maturity

date.

(b) Affiliated

Company.

(c) Variable

rate

security.

Interest

rate

resets

periodically.

The

rate

shown

is

the

effective

interest

rate

as

of

February

28,

2026. For

securities

based

on

a

published

reference

rate

and

spread,

the

reference

rate

and

spread

(in

basis

points)

are

indicated

parenthetically.

Certain

variable

rate

securities

are

not

based

on

a

published

reference

rate

and

spread

but

are

determined

by

the

issuer

or

agent

and

are

based

on

current

market

conditions.

These

securities,

therefore,

do

not

indicate

a

reference

rate

and

spread.

(d) Security

exempt

from

registration

under

Rule

144A

or

Section

4(2)

of

the

Securities

Act

of

1933. The

security

may

be

resold

in

transactions

exempt

from

registration,

normally

to

qualified

institutional

buyers.

As

of

February

28,

2026

the

total

market

value

of

144A

securities

is

$42,773,069

or

11.4%

of

net

assets.

(e) Rate

disclosed

is

the

seven

day

effective

yield

as

of

February

28,

2026. ETF

-

Exchange-Traded

Fund

North

Square

Tactical

Growth

Fund

Schedule

of

Investments

February

28,

2026

(Unaudited)

Sh

ar

e

s

F

a

i

r

V

a

lu

e

EXCHANGE-TRADED

FUNDS

—

85.5%

153,075

Invesco

QQQ

Trust,

Series

$

92,960,917

189,900

iShares®

3-7

Year

Treasury

Bond

ETF

22,924,728

357,500

iShares®

MSCI

Canada

ETF

20,727,850

720,600

iShares®

MSCI

Eurozone

ETF

49,418,748

228,200

iShares®

Russell

2000

ETF

59,653,762

129,440

State

Street

SPDR®

S&P

500®

ETF

88,794,545

194,287

Vanguard

Growth

ETF

89,541,050

354,498

Vanguard

Value

ETF

73,473,255

TOTAL

EXCHANGE-TRADED

FUNDS

(Cost $248,106,340)

497,494,855

SHORT-TERM

INVESTMENTS

—

14.5%

84,501,479

First

American

Treasury

Obligations

Fund,

Class

X,

3.60%

(a) 84,501,479

TOTAL

SHORT-TERM

INVESTMENTS

(Cost

$84,501,479)

84,501,479

TOTAL

INVESTMENTS

—

100.0%

(Cost

$332,607,819)

$

581,996,334

Liabilities

in

Excess

of

Other

Assets —

0.0%

(b) (258,166)

NET

ASSETS

—

100.00%

$

581,738,168

(a) Rate

disclosed

is

the

seven

day

effective

yield

as

of

February

28,

2026. (b) Percentage

rounds

to

less

than

0.1%.

ETF

-

Exchange-Traded

Funds

MSCI

-

Morgan

Stanley

Capital

International

SPDR

-

Standard

and

Poor's

Depository

Receipt

North

Square

Tactical

Defensive

Fund

Schedule

of

Investments

February

28,

2026

(Unaudited)

Sh

ar

e

s

F

a

i

r

V

a

lu

e

EXCHANGE-TRADED

FUNDS

—

77.4%

21,800

Invesco

QQQ

Trust,

Series

$

13,238,922

184,000

SPDR®

Portfolio

Developed

World

ex-US

ETF

9,176,080

57,800

SPDR®

Portfolio

Emerging

Markets

ETF

2,919,478

34,300

SPDR®

Portfolio

S&P

600®

Small

Cap

ETF

1,733,865

182,200

State

Street®

SPDR®

Portfolio

S&P

500®

ETF

(a) 14,714,472

TOTAL

EXCHANGE-TRADED

FUNDS

(Cost $38,201,832)

41,782,817

SHORT-TERM

INVESTMENTS

—

22.6%

12,179,880

First

American

Treasury

Obligations

Fund,

Class

X,

3.60%

(b) 12,179,880

TOTAL

SHORT-TERM

INVESTMENTS

(Cost

$12,179,880)

12,179,880

TOTAL

INVESTMENTS

—

100.0%

(Cost

$50,381,712)

$

53,962,697

Other

Assets

in

Excess

of

Liabilities

—

0.0%

(c) 10,256

NET

ASSETS

—

100.00%

$

53,972,953

(a) Represents

an

investment

greater

than

25%

of

the

Fund's

net

assets.

Performance

of

the

Fund

may

be

adversely

impacted

by

concentrated

investments

in

securities.

As

of

February

28,

2026,

the

percentage

of

net

assets

invested

in

State

Street®

SPDR®

Portfolio

S&P

500®

ETF

was

27.3%

of

the

Fund.

(b) Rate

disclosed

is

the

seven

day

effective

yield

as

of

February

28,

2026. (c) Percentage

rounds

to

less

than

0.1%.

ETF

-

Exchange-Traded

Funds

SPDR

-

Standard

and

Poor's

Depository

Receipt

North

Square

Core

Plus

Bond

Fund

Schedule

of

Investments

February

28,

2026

(Unaudited)

Sh

ar

e

s

F

a

i

r

V

a

lu

e

PREFERRED

STOCKS

—

0.8%

FINANCIALS

—

0.8%

BANKING

—

0.3%

3,658

Webster

Financial

Corp.,

5.25%

(a) $

76,086

SPECIALTY

FINANCE

—

0.5%

4,750

Synchrony

Financial,

Series

B,

8.25%

(a) 124,070

TOTAL

FINANCIALS

(Cost $201,515)

200,156

TOTAL

PREFERRED

STOCKS

(Cost $201,515)

200,156

P

r

i

nc

i

p

a

l

Amo

u

nt

($)

ASSET

BACKED

SECURITIES

—

10.6%

99,572

Alternative

Loan

Trust

2003-22CB

1A1,

5.75%,

12/25/33

102,451

80,000

Applebee's

Funding

LLC

/

IHOP

Funding

LLC

2025-1A

A2,

6.72%,

6/07/55

(b) 81,379

116,528

Bear

Stearns

Asset

Backed

Securities

I

Trust

2004-HE7

M1,

4.69%,

8/25/34

(TSFR1M

+

101bps)

(c) 115,794

175,000

BMW

Vehicle

Lease

Trust

2024-2

A3,

4.18%,

2/25/27

175,407

3,500,000

Citigroup

Commercial

Mortgage

Trust

2020-555

X,

0.74%,

12/10/29

(b)(c) 91,211

89,143

Citigroup

Mortgage

Loan

Trust,

Inc.

2007-WFH3

M1,

4.18%,

6/25/37

(TSFR1M

+

50bps)

(c) 89,285

138,376

COMM

2010-C1

Mortgage

Trust,

5.79%,

7/10/46

(b)(c) 137,511

100,000

COMM

2013-CCRE7

Mortgage

Trust,

4.29%,

3/10/46

(b)(c) 94,075

9,242,000

CSMC

Series

2019-UVIL,

0.12%,

12/01/41

(b)(c) 50,043

34,618

Dell

Equipment

Finance

Trust

2023-3

A3,

5.93%,

6/22/26

34,766

101,614

HomeBanc

Mortgage

Trust

2005-3

M4,

4.79%,

7/25/35

(c) 102,520

60,000

Honda

Auto

Receivables

2024-3

A3

Owner

Trust,

4.57%,

10/21/27

60,394

25,000

Hyundai

Auto

Receivables

Trust 2024-C

A3,

4.41%,

5/15/29

25,187

108,196

Impac

CMB

Trust

Series

2005-4

IMI,

4.22%,

5/25/35

(TSFR1M

+

54bps)

(c) 105,501

58,066

JPMorgan

Chase

Commercial

Mortgage

Securities

Trust

2012-C6

D,

4.96%,

5/15/45

(c) 57,902

82,720

JPMorgan

Chase

Commercial

Mortgage

Securities

Trust

2012-WLDN

A,

3.91%,

5/05/30

81,893

165,086

Morgan

Stanley

Bank

of

America

Merrill

Lynch

Trust,

2012-C5,

4.68%,

8/15/45

(b)(c) 162,038

60,443

Morgan

Stanley

Bank

of

America

Merrill

Lynch,

2013-C11,

3.89%,

8/15/46

(c) 58,590

100,000

Morgan

Stanley

Capital

I

Trust

2014-150E

A,

3.91%,

9/09/32

(b) 94,451

148,413

Morgan

Stanley

Capital

I

Trust,

2011-C2,

5.21%,

6/15/44

(b)(c) 147,365

80,392

MSBAM

Commercial

Mortgage

Securities

Trust

2012-CKSV

A2,

3.28%,

10/15/30

(b) 78,340

188,000

Nissan

Auto

Lease

Trust

2025-A

A3,

4.75%,

3/15/28

190,209

75,000

SEB

Funding

LLC

2024-1A

A2,

7.39%,

4/30/54

(b) 77,178

77,505

Structured

Adjustable

Rate

Mortgage

Loan

Trust

2004-4

B1,

5.85%,

4/25/34

(c) 75,455

45,000

Verizon

Master

Trust

2024-3

A1A,

5.34%,

4/22/30

45,821

37,000

Verizon

Master

Trust

2025-7

A1A,

3.96%,

8/20/31

37,332

29,921

Wells

Fargo

Commercial

Mortgage

Trust

2015-C29,

4.26%,

6/01/48

(c) 29,104

North

Square

Core

Plus

Bond

Fund

Schedule

of

Investments

(continued)

February

28,

2026

(Unaudited)

P

r

i

nc

i

p

a

l

Amo

u

nt

($)

F

a

i

r

V

a

lu

e

ASSET

BACKED

SECURITIES

—

10.6%

(Continued)

83,495

Wells

Fargo

Commercial

Mortgage

Trust

2016-C32,

3.79%,

1/15/59

(b)(c) $

82,067

47,000

Wells

Fargo

Commercial

Mortgage

Trust

2026-5C8,

5.03%,

3/15/59

48,643

TOTAL

ASSET

BACKED

SECURITIES

(Cost $2,495,019)

2,531,912

CORPORATE

BONDS

—

39.2%

COMMUNICATIONS

—

5.0%

CABLE

&

SATELLITE

—

0.8%

100,000

Cable

One,

Inc.,

4.00%,

11/15/30

(b) 69,312

75,000

CCO

Holdings

LLC

/

CCO

Holdings

Capital

Corp.,

4.25%,

2/01/31

(b) 69,961

66,000

Comcast

Corp.,

3.25%,

11/01/39

52,724

191,997

ENTERTAINMENT

CONTENT

—

1.3%

30,000

AMC

Networks,

Inc.,

10.25%,

1/15/29

(b) 32,190

66,000

Fox

Corp.,

6.50%,

10/13/33

72,462

150,000

Paramount

Global,

6.25%,

2/28/57

(c) 117,420

35,000

TEGNA,

Inc.,

4.63%,

3/15/28

34,929

37,000

Walt

Disney

Co.

(The),

4.00%,

3/14/31

37,085

69,000

Walt

Disney

Co.

(The),

3.50%,

5/13/40

58,535

352,621

INTERNET

MEDIA

&

SERVICES

—

0.9%

45,000

Alphabet,

Inc.,

4.40%,

2/15/33

45,410

37,000

Alphabet,

Inc.,

4.70%,

11/15/35

37,479

18,000

Alphabet,

Inc.,

5.50%,

2/15/46

18,340

38,000

Meta

Platforms,

Inc.,

4.60%,

11/15/32

38,648

20,000

Meta

Platforms,

Inc.,

5.60%,

5/15/53

19,486

30,000

Ziff

Davis,

Inc.,

4.63%,

10/15/30

(b) 26,988

186,351

PUBLISHING

&

BROADCASTING

—

0.1%

35,000

Gray

Media,

Inc.,

7.25%,

8/15/33

(b) 36,166

TELECOMMUNICATIONS

—

1.9%

150,000

Rogers

Communications,

Inc.,

7.13%,

4/15/55

(H15T5Y

+

262bps)

(c) 158,941

35,000

Telecom

Italia

Capital

SA,

6.38%,

11/15/33

37,200

150,000

TELUS

Corp.,

7.00%,

10/15/55

(c) 158,347

110,000

Verizon

Communications,

Inc.,

2.65%,

11/20/40

80,211

434,699

TOTAL COMMUNICATIONS

1,201,834

CONSUMER

DISCRETIONARY

—

2.4%

APPAREL

&

TEXTILE

PRODUCTS

—

0.1%

30,000

Crocs,

Inc.,

4.25%,

3/15/29

(b) 29,253

AUTOMOTIVE

—

1.6%

30,000

American

Axle

&

Manufacturing,

Inc.,

6.38%,

10/15/32

(b) 30,552

60,000

Ford

Motor

Co.,

Class

B,

3.25%,

2/12/32

54,031

83,000

General

Motors

Financial

Co.,

Inc.,

5.35%,

1/07/30

86,172

North

Square

Core

Plus

Bond

Fund

Schedule

of

Investments

(continued)

February

28,

2026

(Unaudited)

P

r

i

nc

i

p

a

l

Amo

u

nt

($)

F

a

i

r

V

a

lu

e

CORPORATE

BONDS

—

39.2%

(Continued)

CONSUMER

DISCRETIONARY

—

2.4%

(continued)

AUTOMOTIVE

—

1.6%

(continued)

75,000

General

Motors

Financial

Co.,

Inc.,

5.75%,

3/30/66

(a)(c) $

75,195

125,000

Honda

Motor

Co.

Ltd.,

4.69%,

7/08/30

127,453

373,403

CONSUMER

SERVICES

—

0.1%

25,000

Rent-A-Center,

Inc.,

6.38%,

2/15/29

(b) 24,769

LEISURE

FACILITIES

&

SERVICES

—

0.1%

11,000

McDonald's

Corp.,

4.40%,

2/12/31

11,183

RETAIL

-

DISCRETIONARY

—

0.5%

30,000

Bath

&

Body

Works,

Inc.,

6.88%,

11/01/35

30,595

30,000

Gap,

Inc.

(The),

3.88%,

10/01/31

(b) 27,939

46,000

Lowe's

Companies,

Inc.,

4.50%,

10/15/32

46,215

30,000

Macy's

Retail

Holdings

LLC,

7.38%,

8/01/33

(b) 31,466

136,215

TOTAL CONSUMER

DISCRETIONARY

574,823

CONSUMER

STAPLES

—

1.4%

BEVERAGES

—

0.3%

47,000

Coca-Cola

Co.

(The),

3.45%,

3/25/30

46,481

11,000

Keurig

Dr

Pepper,

Inc.,

5.20%,

3/15/31

11,370

57,851

FOOD

—

0.4%

45,000

BellRing

Brands,

Inc.,

7.00%,

3/15/30

(b) 45,948

50,000

HLF

Financing

Sarl

LLC,

4.88%,

6/01/29

(b) 47,942

93,890

HOUSEHOLD

PRODUCTS

—

0.4%

40,000

Central

Garden

&

Pet

Co.,

4.13%,

10/15/30

38,631

53,000

Procter

&

Gamble

Co.

(The),

4.10%,

11/03/32

53,402

92,033

TOBACCO

&

CANNABIS

—

0.3%

29,000

Philip

Morris

International,

Inc.,

5.13%,

2/15/30

30,138

50,000

Turning

Point

Brands,

Inc.,

7.63%,

3/15/32

(b) 53,743

83,881

TOTAL CONSUMER

STAPLES

327,655

ENERGY

—

5.5%

OIL

&

GAS

PRODUCERS

—

4.9%

13,000

BP

Capital

Markets

America,

Inc.,

4.89%,

9/11/33

13,366

40,000

California

Resources

Corp.,

8.25%,

6/15/29

42,017

50,000

California

Resources

Corp.,

7.00%,

1/15/34

(b) 50,948

71,000

Chevron

USA,

Inc.,

4.82%,

4/15/32

73,917

80,000

ConocoPhillips

Co.,

5.30%,

5/15/53

75,944

75,000

Crescent

Energy

Finance

LLC,

7.75%,

7/31/29

(b) 75,422

North

Square

Core

Plus

Bond

Fund

Schedule

of

Investments

(continued)

February

28,

2026

(Unaudited)

P

r

i

nc

i

p

a

l

Amo

u

nt

($)

F

a

i

r

V

a

lu

e

CORPORATE

BONDS

—

39.2%

(Continued)

ENERGY

—

5.5%

(continued)

OIL

&

GAS

PRODUCERS

—

4.9%

(continued)

75,000

CVR

Energy,

Inc.,

7.50%,

2/15/31

(b) $

74,790

27,000

Energy

Transfer

LP,

3.75%,

5/15/30

26,568

125,000

Energy

Transfer

LP,

6.63%,

2/15/72

(US0003M

+

416bps)

(a)(c) 126,705

92,000

Exxon

Mobil

Corp.,

4.33%,

3/19/50

78,838

31,000

ONEOK,

Inc.,

4.95%,

10/15/32

31,551

20,000

ONEOK,

Inc.,

5.70%,

11/01/54

18,861

100,000

Petroleos

Mexicanos,

6.63%,

9/28/99

(a) 76,121

60,000

Phillips

Co.,

5.25%,

6/15/31

62,834

29,000

Shell

Finance

US,

Inc.,

4.75%,

1/06/36

29,235

150,000

South

Bow

Canadian

Infrastructure

Holdings

Ltd.,

7.50%,

3/01/55

(c) 159,304

55,000

TotalEnergies

Capital

SA,

5.49%,

4/05/54

54,401

50,000

TotalEnergies

Capital

USA

LLC,

4.57%,

1/13/33

50,638

68,000

Vital

Energy,

Inc.,

7.88%,

4/15/32

(b) 69,315

1,190,775

OIL

&

GAS

SERVICES

&

EQUIPMENT

—

0.6%

40,000

Helix

Energy

Solutions

Group,

Inc.,

9.75%,

3/01/29

(b) 42,062

40,000

Noble

Finance

II

LLC,

8.00%,

4/15/30

(b) 41,655

40,000

Weatherford

International

Ltd,

6.75%,

10/15/33

(b) 41,840

125,557

TOTAL ENERGY

1,316,332

FINANCIALS

—

12.5%

ASSET

MANAGEMENT

—

1.0%

15,000

Charles

Schwab

Corp.

(The),

4.91%,

11/14/36

(c) 15,010

30,000

Icahn

Enterprises

LP,

4.38%,

2/01/29

25,593

200,000

UBS

Group

AG,

7.13%,

12/31/49

(USISSO05

+

318bps)

(a)(b)(c)

204,998

245,601

BANKING

—

8.8%

200,000

Banco

Bilbao

Vizcaya

Argentaria

SA,

6.13%,

2/16/49

(USSW5

+

387bps)

(a)(c) 202,546

200,000

Banco

Santander

SA,

8.00%,

12/31/49

(H15T5Y

+

391bps)

(a)(c) 221,384

39,000

Bank

of

America

Corp.,

4.46%,

2/06/32

(c) 39,301

39,000

Bank

of

Nova

Scotia

(The),

5.13%,

2/14/31

(SOFRRATE

+

107bps)

(c) 40,394

60,000

Canadian

Imperial

Bank

of

Commerce,

5.26%,

4/08/29

62,286

51,000

Citigroup,

Inc.,

4.95%,

5/07/31

(c) 52,321

150,000

Citigroup,

Inc.,

6.95%,

2/15/80

(H15T5Y

+

273bps)

(a)(c) 154,569

200,000

HSBC

Holdings

PLC,

7.05%,

12/31/49

(H15T5Y

+

299bps)

(a)(c) 208,423

200,000

ING

Groep

NV,

4.25%,

10/16/69

(H15T5Y

+

286bps)

(a)(c) 180,836

132,000

JPMorgan

Chase

&

Co.,

5.14%,

1/24/31

(SOFRRATE

+

90bps)

(c) 136,999

58,000

JPMorgan

Chase

&

Co.,

4.81%,

10/22/36

(SOFRRATE

+

1bps)

(c) 57,912

154,000

Morgan

Stanley

Bank

NA,

3.85%,

2/18/28

154,033

154,000

Morgan

Stanley

Private

Bank

NA,

3.85%,

2/18/28

154,033

22,000

PNC

Financial

Services

Group,

Inc.

(The),

6.88%,

10/20/34

(SOFRRATE

+

2bps)

(c) 25,056

North

Square

Core

Plus

Bond

Fund

Schedule

of

Investments

(continued)

February

28,

2026

(Unaudited)

P

r

i

nc

i

p

a

l

Amo

u

nt

($)

F

a

i

r

V

a

lu

e

CORPORATE

BONDS

—

39.2%

(Continued)

FINANCIALS

—

12.5%

(continued)

BANKING

—

8.8%

(continued)

96,000

Royal

Bank

of

Canada,

4.65%,

10/18/30

(SOFRINDX

+

108bps)

(c) $

97,954

20,000

Toronto-Dominion

Bank

(The),

4.86%,

1/31/28

20,385

17,000

Truist

Financial

Corp.,

4.60%,

1/27/32

(c) 17,184

15,000

Truist

Financial

Corp.,

5.12%,

1/26/34

(c) 15,390

155,000

UBS

Bank

USA,

3.80%,

2/11/28

154,943

60,000

US

Bancorp,

5.05%,

2/12/31

(SOFRRATE

+

106bps)

(c) 61,998

68,000

Wells

Fargo

Bank

NA,

4.25%,

3/11/27

68,368

2,126,315

INSTITUTIONAL

FINANCIAL

SERVICES

—

2.2%

20,000

Bank

of

New

York

Mellon

Corp.

(The),

4.94%,

2/11/31

(c) 20,639

64,000

Bank

of

New

York

Mellon

Corp.

(The),

5.06%,

7/22/32

(c) 66,610

64,000

Goldman

Sachs

Bank

USA,

4.30%,

3/11/27

64,353

25,000

Goldman

Sachs

Bank

USA,

5.41%,

5/21/27

(SOFRRATE

+

75bps)

(c) 25,076

89,000

Goldman

Sachs

Bank

USA,

3.85%,

2/22/28

89,053

70,000

Goldman

Sachs

Group

Inc.

(The),

4.37%,

10/21/31

(c) 70,060

19,000

Goldman

Sachs

Group

Inc.

(The),

4.94%,

10/21/36

(c) 18,940

38,000

Morgan

Stanley,

5.23%,

1/15/31

(c) 39,359

94,000

Morgan

Stanley,

5.07%,

1/30/37

(c) 94,838

488,928

SPECIALTY

FINANCE

—

0.5%

26,000

Capital

One

Financial

Corp.,

5.46%,

7/26/30

(SOFRRATE

+

156bps)

(c) 26,982

31,000

Capital

One

Financial

Corp.,

4.49%,

9/11/31

(c) 31,012

30,000

FirstCash

Holdings,

Inc.,

4.63%,

9/01/28

(b) 29,656

40,000

OneMain

Finance

Corp.,

6.75%,

3/15/32

40,361

128,011

TOTAL FINANCIALS

2,988,855

HEALTH

CARE

—

2.5%

BIOTECH

&

PHARMA

—

0.7%

19,000

AbbVie,

Inc.,

4.40%,

3/15/33

19,085

46,000

Eli

Lilly

&

Co.,

5.00%,

2/09/54

43,245

58,000

Merck

&

Co.,

Inc.,

4.75%,

12/04/35

58,550

50,000

Prestige

Consumer

Healthcare,

Inc.,

3.75%,

4/01/31

(b) 46,793

167,673

HEALTH

CARE

FACILITIES

&

SERVICES

—

1.8%

18,000

Cigna

Group

(The),

4.88%,

9/15/32

18,418

64,000

Cigna

Group

(The),

5.25%,

1/15/36

65,759

175,000

CVS

Health

Corp.,

6.75%,

12/10/54

(H15T5Y

+

252bps)

(c) 182,131

30,000

HealthEquity

Inc.,

4.50%,

10/01/29

(b) 29,258

50,000

Pediatrix

Medical

Group,

Inc.,

5.38%,

2/15/30

(b) 49,715

28,000

UnitedHealth

Group,

Inc.,

2.30%,

5/15/31

25,576

35,000

UnitedHealth

Group,

Inc.,

5.15%,

7/15/34

36,180

North

Square

Core

Plus

Bond

Fund

Schedule

of

Investments

(continued)

February

28,

2026

(Unaudited)

P

r

i

nc

i

p

a

l

Amo

u

nt

($)

F

a

i

r

V

a

lu

e

CORPORATE

BONDS

—

39.2%

(Continued)

HEALTH

CARE

—

2.5%

(continued)

HEALTH

CARE

FACILITIES

&

SERVICES

—

1.8%

(continued)

22,000

UnitedHealth

Group,

Inc.,

5.88%,

2/15/53

$

22,389

429,426

TOTAL HEALTH

CARE

597,099

INDUSTRIALS

—

1.9%

AEROSPACE

&

DEFENSE

—

0.3%

37,000

Boeing

Co.

(The),

5.15%,

5/01/30

38,329

38,000

Lockheed

Martin

Corp.,

4.70%,

5/15/46

35,157

73,486

COMMERCIAL

SUPPORT

SERVICES

—

0.2%

60,000

VM

Consolidated

Inc.,

5.50%,

4/15/29

(b) 58,951

DIVERSIFIED

INDUSTRIALS

—

0.4%

87,000

Honeywell

International,

Inc.,

4.75%,

2/01/32

89,661

ELECTRICAL

EQUIPMENT

—

0.2%

35,000

Johnson

Controls

International

PLC,

5.50%,

4/19/29

36,614

INDUSTRIAL

INTERMEDIATE

PRODUCTS

—

0.1%

35,000

Enpro,

Inc.,

6.13%,

6/01/33

(b) 36,209

MACHINERY

—

0.1%

24,000

Caterpillar,

Inc.,

5.20%,

5/15/35

25,152

TRANSPORTATION

&

LOGISTICS

—

0.6%

80,000

Burlington

Northern

Santa

Fe

LLC,

4.55%,

9/01/44

72,394

21,177

FedEx

Corp.

2020-1

Class

AA

Pass

Through

Trust,

1.88%,

2/20/34

18,873

40,000

FedEx

Freight

Holding

Co.,

Inc.,

4.95%,

3/15/33

40,013

131,280

TOTAL INDUSTRIALS

451,353

MATERIALS

—

1.5%

CHEMICALS

—

0.4%

150,000

FMC

Corp.,

8.45%,

11/01/55

(c) 98,785

METALS

&

MINING

—

1.1%

50,000

Alliance

Resource

Operating

Partners

LP,

8.63%,

6/15/29

(b) 52,826

60,000

Eldorado

Gold

Corp.,

6.25%,

9/01/29

(b) 60,406

40,000

Hudbay

Minerals,

Inc.,

6.13%,

4/01/29

(b) 40,347

55,000

New

Gold,

Inc.,

6.88%,

4/01/32

(b) 58,655

50,000

SunCoke

Energy,

Inc.,

4.88%,

6/30/29

(b) 45,711

257,945

TOTAL MATERIALS

356,730

North

Square

Core

Plus

Bond

Fund

Schedule

of

Investments

(continued)

February

28,

2026

(Unaudited)

P

r

i

nc

i

p

a

l

Amo

u

nt

($)

F

a

i

r

V

a

lu

e

CORPORATE

BONDS

—

39.2%

(Continued)

REAL

ESTATE

—

0.5%

REAL

ESTATE

OWNERS

&

DEVELOPERS

—

0.1%

30,000

Howard

Hughes

Corp.

(The),

4.38%,

2/01/31

(b) $

28,555

REIT

—

0.4%

50,000

American

Tower

Corp.,

3.80%,

8/15/29

49,611

20,000

American

Tower

Corp.,

4.70%,

12/15/32

20,236

30,000

RLJ

Lodging

Trust

LP,

4.00%,

9/15/29

28,723

98,570

TOTAL REAL

ESTATE

127,125

TECHNOLOGY

—

1.5%

SEMICONDUCTORS

—

0.4%

35,000

Broadcom,

Inc.,

4.35%,

2/15/30

35,445

71,000

Broadcom,

Inc.,

4.90%,

7/15/32

73,147

108,592

SOFTWARE

—

0.8%

30,000

Consensus

Cloud

Solutions,

Inc.,

6.50%,

10/15/28

(b) 29,918

14,000

Oracle

Corp.,

4.55%,

2/04/29

14,030

90,000

Oracle

Corp.,

4.45%,

9/26/30

88,295

39,000

Oracle

Corp.,

5.88%,

9/26/45

35,358

30,000

ZoomInfo

Technologies

LLC/ZoomInfo

Finance

Corp.,

3.88%,

2/01/29

(b) 25,905

193,506

TECHNOLOGY

HARDWARE

—

0.3%

59,000

Apple,

Inc.,

2.95%,

9/11/49

40,332

30,000

Zebra

Technologies

Corp.,

6.50%,

6/01/32

(b) 30,773

71,105

TOTAL TECHNOLOGY

373,203

UTILITIES

—

4.5%

ELECTRIC

UTILITIES

—

3.7%

40,000

Alabama

Power

Co.,

3.45%,

10/01/49

29,172

15,000

Berkshire

Hathaway

Energy

Co.,

3.70%,

7/15/30

14,859

75,000

CenterPoint

Energy,

Inc.,

3.00%,

8/01/28

(b) 79,459

125,000

CenterPoint

Energy,

Inc.,

6.85%,

2/15/55

(H15T5Y

+

295bps)

(c) 132,886

50,000

Dominion

Energy,

Inc.,

6.20%,

2/15/56

(H15T10Y

+

2bps)

(c) 50,923

110,000

Duke

Energy

Carolinas

LLC,

5.30%,

2/15/40

112,487

19,000

Duke

Energy

Corp.,

4.95%,

9/15/35

19,047

75,000

Emera,

Inc.,

6.75%,

6/15/76

(c) 75,688

20,000

Entergy

Corp.,

1.90%,

6/15/28

19,117

27,000

Florida

Power

&

Light

Co.,

5.30%,

6/15/34

28,474

35,000

Florida

Power

&

Light

Co.,

5.30%,

4/01/53

34,123

109,000

MidAmerican

Energy

Co.,

4.25%,

7/15/49

91,218

15,000

NextEra

Energy

Capital

Holdings,

Inc.,

2.25%,

6/01/30

13,925

75,000

NRG

Energy,

Inc.,

10.25%,

12/31/49

(H15T5Y

+

592bps)

(a)(b)(c)

82,614

33,000

Virginia

Electric

and

Power

Co.,

4.95%,

3/15/36

32,959

North

Square

Core

Plus

Bond

Fund

Schedule

of

Investments

(continued)

February

28,

2026

(Unaudited)

P

r

i

nc

i

p

a

l

Amo

u

nt

($)

F

a

i

r

V

a

lu

e

CORPORATE

BONDS

—

39.2%

(Continued)

UTILITIES

—

4.5%

(continued)

ELECTRIC

UTILITIES

—

3.7%

(continued)

65,000

Virginia

Electric

and

Power

Co.,

5.45%,

4/01/53

$

62,575

879,526

GAS

&

WATER

UTILITIES

—

0.8%

125,000

AltaGas

Ltd.,

7.20%,

10/15/54

(H15T5Y

+

357bps)

(b)(c) 130,660

35,000

AmeriGas

Partners,

L.P.,

9.50%,

6/01/30

(b) 37,484

30,000

Suburban

Propane

Partners,

L.P.,

6.50%,

12/15/35

(b) 29,713

197,857

TOTAL UTILITIES

1,077,383

TOTAL

CORPORATE

BONDS

(Cost $9,351,130)

9,392,392

MORTGAGE-BACKED

SECURITIES

—

18.0%

262,748

Fannie

Mae

Pool

,

3.50%,

10/13/37

252,077

95,904

Fannie

Mae

Pool

,

5.00%,

6/01/43

97,569

170,490

Fannie

Mae

Pool

,

5.00%,

11/01/46

176,643

223,682

Fannie

Mae

Pool

,

2.50%,

12/01/47

199,792

70,890

Fannie

Mae

Pool

,

3.00%,

9/01/50

64,773

58,367

Fannie

Mae

Pool

,

2.50%,

5/01/51

51,686

45,951

Fannie

Mae

Pool

,

3.00%,

5/01/51

41,882

134,276

Fannie

Mae

Pool

,

2.50%,

10/01/51

117,344

38,844

Fannie

Mae

Pool

,

4.00%,

1/01/52

38,302

215,683

Fannie

Mae

Pool

,

5.50%,

11/01/52

220,753

25,525

Fannie

Mae

Pool

,

6.50%,

1/01/53

26,810

38,424

Fannie

Mae

Pool

,

6.00%,

9/01/53

40,303

126,196

Fannie

Mae

Pool

,

5.50%,

9/01/56

130,987

12,788

Fannie

Mae

REMICS

2023-21

,

5.00%,

1/25/53

12,975

87,827

Fannie

Mae

REMICS

2024-11

BK

,

5.00%,

2/25/51

87,794

28,217

Fannie

Mae

REMICS

2024-26

A

,

5.00%,

7/25/51

28,339

12,618

Fannie

Mae

REMICS

2202-22

AE

,

4.00%,

5/25/49

12,444

101,000

Federal

Farm

Credit

Banks

Funding

Corp.

,

4.59%,

8/25/31

101,146

156,000

Federal

Farm

Credit

Banks

Funding

Corp.

,

5.11%,

7/15/32

156,644

79,000

Federal

Farm

Credit

Banks

Funding

Corp.

,

4.94%,

3/03/33

79,604

85,000

Federal

Farm

Credit

Banks

Funding

Corp.

,

5.27%,

6/23/33

85,156

75,000

Federal

Home

Loan

Banks

,

4.85%,

9/24/32

75,175

130,000

Federal

Home

Loan

Banks

,

5.35%,

6/12/34

130,696

2,149,740

Freddie

Mac

Multifamily

Structured

Pass-Through

Certificates

,

0.94%,

5/01/29

(c) 54,459

650,000

Freddie

Mac

Multifamily

Structured

Pass-Through

Certificates

K-G04

,

2.63%,

11/25/30

(c) 67,402

75,435

Freddie

Mac

Pool

,

2.50%,

2/01/52

66,276

70,237

Freddie

Mac

Pool

,

3.50%,

4/01/52

66,698

232,094

Freddie

Mac

Pool

,

3.00%,

5/01/52

210,879

32,686

Freddie

Mac

Pool

,

5.50%,

11/01/55

33,349

90,663

Freddie

Mac

REMICS

4322

DJ

,

3.00%,

5/15/43

89,550

North

Square

Core

Plus

Bond

Fund

Schedule

of

Investments

(continued)

February

28,

2026

(Unaudited)

P

r

i

nc

i

p

a

l

Amo

u

nt

($)

F

a

i

r

V

a

lu

e

MORTGAGE-BACKED

SECURITIES

—

18.0%

(Continued)

36,048

Freddie

Mac

REMICS

5522

DE

,

5.50%,

11/25/51

$

36,542

54,569

Freddie

Mac

REMICS

5604

EA

,

4.50%,

4/25/52

54,691

181,272

Ginnie

Mae

II

Pool

,

2.50%,

8/20/50

157,830

115,280

Ginnie

Mae

II

Pool

,

2.50%,

12/20/50

100,908

87,170

Ginnie

Mae

II

Pool

,

2.00%,

1/20/51

73,925

206,988

Ginnie

Mae

II

Pool

,

2.00%,

3/20/51

172,840

317,414

Ginnie

Mae

II

Pool

,

3.00%,

10/20/51

291,617

75,406

Ginnie

Mae

II

Pool

,

3.00%,

3/20/52

69,157

189,421

Ginnie

Mae

II

Pool

,

5.00%,

11/20/52

191,561

21,243

Ginnie

Mae

II

Pool

,

2.50%,

2/20/53

18,817

71,841

Ginnie

Mae

II

Pool

,

5.50%,

9/01/53

(c) 73,285

196,705

Government

National

Mortgage

Association

2022-189

PT

,

2.50%,

10/20/51

168,391

42,674

Government

National

Mortgage

Association

2024-65

NB

,

5.50%,

2/20/48

42,673

60,000

Government

National

Mortgage

Association

2024-8

JL

,

5.00%,

1/20/54

60,771

TOTAL

MORTGAGE-BACKED

SECURITIES

(Cost $4,274,707)

4,330,515

NON

U.S.

GOVERNMENT

&

AGENCIES

—

2.0%

SUPRANATIONAL

—

1.4%

150,000

Asian

Development

Bank,

4.95%,

4/12/29

150,145

86,000

International

Bank

for

Reconstruction

&

Development,

1.62%,

3/11/30

79,698

100,000

International

Bank

for

Reconstruction

&

Development,

5.17%,

4/24/29

100,410

330,253

NON

U.S.

TREASURY

—

0.6%

2,500,000

Mexican

Bonos,

7.75%,

5/29/31

143,368

TOTAL

NON

U.S.

GOVERNMENT

&

AGENCIES

(Cost $469,524)

473,621

U.S.

GOVERNMENT

&

AGENCIES

—

24.7%

U.S.

TREASURY

BONDS

—

8.2%

203,000

United

States

Treasury

Bond,

2.75 %

,

11/15/42

161,163

234,000

United

States

Treasury

Bond,

4.75 %

,

11/15/43

240,929

270,000

United

States

Treasury

Bond,

2.00 %

,

8/15/51

161,568

177,000

United

States

Treasury

Bond,

4.00 %

,

11/15/52

159,082

391,000

United

States

Treasury

Note,

3.50 %

,

1/31/28

391,779

152,000

United

States

Treasury

Note/Bond,

4.88 %

,

8/15/45

158,151

158,000

United

States

Treasury

Note/Bond,

4.63 %

,

11/15/45

159,074

399,000

United

States

Treasury

Note/Bond,

3.13 %

,

5/15/48

314,415

200,000

United

States

Treasury

Note/Bond,

4.63 %

,

11/15/55

199,703

1,945,864

U.S.

TREASURY

NOTES

—

16.5%

158,000

United

States

Treasury

Inflation

Indexed

Bonds,

1.88 %

,

1/15/36

160,041

303,000

United

States

Treasury

Note,

4.13 %

,

7/31/31

311,267

174,000

United

States

Treasury

Note,

1.88 %

,

2/15/32

157,708

77,000

United

States

Treasury

Note,

4.25 %

,

8/15/35

78,925

310,000

United

States

Treasury

Note/Bond,

3.88 %

,

7/15/28

313,445

312,000

United

States

Treasury

Note/Bond,

3.50 %

,

11/15/28

312,914

470,000

United

States

Treasury

Note/Bond,

3.50 %

,

1/15/29

471,487

North

Square

Core

Plus

Bond

Fund

Schedule

of

Investments

(continued)

February

28,

2026

(Unaudited)

P

r

i

nc

i

p

a

l

Amo

u

nt

($)

F

a

i

r

V

a

lu

e

U.S.

GOVERNMENT

&

AGENCIES

—

24.7%

(Continued)

262,000

United

States

Treasury

Note/Bond,

3.63 %

,

10/31/30

$

263,330

275,000

United

States

Treasury

Note/Bond,

3.63 %

,

12/31/30

276,311

351,000

United

States

Treasury

Note/Bond,

3.75 %

,

1/31/31

354,620

157,000

United

States

Treasury

Note/Bond,

3.75 %

,

10/31/32

157,466

157,000

United

States

Treasury

Note/Bond,

3.88 %

,

12/31/32

158,570

266,000

United

States

Treasury

Note/Bond,

4.00 %

,

1/31/33

270,613

247,000

United

States

Treasury

Note/Bond,

4.00 %

,

11/15/35

247,926

145,000

United

States

Treasury

Note/Bond,

4.13 %

,

2/15/36

146,937

152,000

United

States

Treasury

Note/Bond,

4.38 %

,

2/15/38

156,756

140,000

United

States

Treasury

Note/Bond,

4.75 %

,

8/15/55

142,592

3,980,908

TOTAL

U.S.

GOVERNMENT

&

AGENCIES

(Cost $5,842,180)

5,926,772

C

ont

ra

ct

s

Description

Expiration

Date

Exercise

Price

Notional

Value

PURCHASED

CALL

OPTIONS

—

0.10%

E-mini

S&P

500®

6/22/2026

$

7,500.00

$

15,271,300

31,900

TOTAL

PURCHASED

CALL

OPTIONS

(Cost $61,050)

31,900

Sh

ar

e

s

SHORT-TERM

INVESTMENTS

—

2.90%

700,187

First

American

Treasury

Obligations

Fund,

Class

X,

3.60%

(d) 700,187

TOTAL

SHORT-TERM

INVESTMENTS

(Cost $700,187)

700,187

TOTAL

INVESTMENTS

—

98.3%

(Cost

$23,395,312)

$

23,587,455

Other

Assets

in

Excess

of

Liabilities

—

1.7%

397,034

NET

ASSETS

—

100.00%

$

23,984,489

(a) Security

is

perpetual

in

nature

and

has

no

stated

maturity

date.

(b) Security

exempt

from

registration

under

Rule

144A

or

Section

4(2)

of

the

Securities

Act

of

1933. The

security

may

be

resold

in

transactions

exempt

from

registration,

normally

to

qualified

institutional

buyers.

As

of

February

28,

2026

the

total

market

value

of

144A

securities

is

$3,206,525

or

13.4%

of

net

assets.

(c) Variable

rate

security.

Interest

rate

resets

periodically.

The

rate

shown

is

the

effective

interest

rate

as

of

February

28,

2026. For

securities

based

on

a

published

reference

rate

and

spread,

the

reference

rate

and

spread

(in

basis

points)

are

indicated

parenthetically.

Certain

variable

rate

securities

are

not

based

on

a

published

reference

rate

and

spread

but

are

determined

by

the

issuer

or

agent

and

are

based

on

current

market

conditions.

These

securities,

therefore,

do

not

indicate

a

reference

rate

and

spread.

(d) Rate

disclosed

is

the

seven

day

effective

yield

as

of

February

28,

2026. REMIC

Real

Estate

Mortgage

Investment

Conduit

North

Square

Core

Plus

Bond

Fund

Futures

Table

Schedule

of

Investments

February

28,

2026

(Unaudited)

Contracts

Long

Contracts

Expiration

Date

Notional

Amount

Value

and

Unrealized

Appreciation

(Depreciation)

10-Year

US

Treasury

Note

Future

06/22/2026

$

682,875

$

3,844

2-Year

US

Treasury

Note

Future

07/01/2026

3,348,374

3,609

5-Year

US

Treasury

Note

Future

07/01/2026

1,652,109

5,343

Ultra

10-Year

US

Treasury

Note

Future

06/22/2026

466,938

2,875

Ultra

US

Treasury

Bond

Future

06/22/2026

486,375

3,625

US

Treasury

Bond

Future

06/22/2026

710,813

4,688

$

23,984

Short

Contracts

(41) Bloomberg

U.S.

Corporate

High

Yield

Very

Liquid

Future

03/18/2026

$

(4,598,355)

$

(11,625)

(4) E-mini

S&P

500®

Index

Future

03/23/2026

(1,377,800)

15,513

$

3,888

North

Square

Kennedy

MicroCap

Fund

Schedule

of

Investments

February

28,

2026

(Unaudited)

Sh

ar

e

s

F

a

i

r

V

a

lu

e

COMMON

STOCKS

—

96.0%

COMMUNICATIONS

—

1.5%

ADVERTISING

&

MARKETING

—

0.2%

5,866

Magnite,

Inc.

(a) $

79,895

ENTERTAINMENT

CONTENT

—

0.3%

10,086

Inspired

Entertainment,

Inc.

(a) 82,301

INTERNET

MEDIA

&

SERVICES

—

1.0%

51,685

DHI

Group,

Inc.

(a) 128,696

4,200

LiveOne,

Inc.

(a) 23,058

18,352

OptimizeRx

Corp.

(a) 139,108

290,862

PUBLISHING

&

BROADCASTING

—

0.0%

(b) 1,068

Thryv

Holdings,

Inc.

(a) 2,478

TOTAL COMMUNICATIONS

455,536

CONSUMER

DISCRETIONARY

—

3.5%

APPAREL

&

TEXTILE

PRODUCTS

—

0.1%

3,413

Lakeland

Industries,

Inc.

31,297

AUTOMOTIVE

—

0.5%

3,131

Gentherm,

Inc.

(a) 102,603

5,705

Motorcar

Parts

of

America,

Inc.

(a) 58,990

161,593

CONSUMER

SERVICES

—

2.5%

29,628

Legacy

Education,

Inc.

(a) 407,977

3,590

Matthews

International

Corp.,

Class

A

94,884

4,451

Universal

Technical

Institute,

Inc.

(a) 161,126

3,584

Upbound

Group,

Inc.

76,877

740,864

LEISURE

FACILITIES

&

SERVICES

—

0.4%

8,789

First

Watch

Restaurant

Group,

Inc.

(a) 109,511

TOTAL CONSUMER

DISCRETIONARY

1,043,265

CONSUMER

STAPLES

—

3.9%

FOOD

—

2.8%

20,910

Nature's

Sunshine

Products,

Inc.

(a) 578,789

38,977

SunOpta,

Inc.

(a) 252,571

831,360

WHOLESALE

-

CONSUMER

STAPLES

—

1.1%

4,781

Chefs'

Warehouse,

Inc.

(The)

(a) 341,316

TOTAL CONSUMER

STAPLES

1,172,676

North

Square

Kennedy

MicroCap

Fund

Schedule

of

Investments

(continued)

February

28,

2026

(Unaudited)

Sh

ar

e

s

F

a

i

r

V

a

lu

e

COMMON

STOCKS

—

96.0%

(Continued)

ENERGY

—

5.8%

OIL

&

GAS

PRODUCERS

—

0.8%

7,906

Riley

Exploration

Permian,

Inc.

$

228,009

OIL

&

GAS

SERVICES

&

EQUIPMENT

—

4.8%

26,559

DNOW,

Inc.

(a) 312,865

21,124

Helix

Energy

Solutions

Group,

Inc.

(a) 194,129

22,446

Oil

States

International,

Inc.

(a) 293,818

6,320

Solaris

Energy

Infrastructure,

Inc.,

Class

A

313,662

6,196

Thermon

Group

Holdings,

Inc.

(a) 314,633

1,429,107

RENEWABLE

ENERGY

—

0.2%

2,186

American

Superconductor

Corp.

(a) 71,220

TOTAL ENERGY

1,728,336

FINANCIALS

—

21.3%

ASSET

MANAGEMENT

—

2.0%

8,038

Compass

Diversified

Holdings

60,204

10,783

Kayne

Anderson

BDC,

Inc.

144,708

12,447

Trinity

Capital,

Inc.

184,091

7,665

Voyager

Technologies,

Inc.

(a) 204,579

593,582

BANKING

—

14.7%

14,088

California

BanCorp

(a) 257,951

12,258

Capital

Bancorp,

Inc.

360,508

12,143

Carter

Bankshares,

Inc.

(a) 253,060

2,262

Coastal

Financial

Corp.

(a) 167,818

11,230

ConnectOne

Bancorp,

Inc.

297,932

16,418

Horizon

Bancorp,

Inc.

276,479

12,478

Investar

Holding

Corp.

352,254

5,835

Northeast

Bank

646,985

18,851

Old

Second

Bancorp,

Inc.

370,045

6,143

Origin

Bancorp,

Inc.

255,549

5,605

QCR

Holdings,

Inc.

484,832

13,223

Third

Coast

Bancshares,

Inc.

(a) 523,763

7,340

VersaBank

121,110

4,368,286

INSTITUTIONAL

FINANCIAL

SERVICES

—

0.3%

5,233

Perella

Weinberg

Partners

96,863

INSURANCE

—

2.8%

22,116

Abacus

Life,

Inc.

(a) 201,919

24,072

Crawford

&

Co.,

Class

A

259,015

14,342

James

River

Group

Holdings,

Inc.

100,394

16,311

Tiptree,

Inc.

277,776

839,104

North

Square

Kennedy

MicroCap

Fund

Schedule

of

Investments

(continued)

February

28,

2026

(Unaudited)

Sh

ar

e

s

F

a

i

r

V

a

lu

e

COMMON

STOCKS

—

96.0%

(Continued)

FINANCIALS

—

21.3%

(Continued)

SPECIALTY

FINANCE

—

1.5%

6,684

Applied

Digital

Corp.

(a) $

182,273

8,626

LendingClub

Corp.

(a) 128,614

4,343

Mid

Penn

Bancorp,

Inc.

139,714

450,601

TOTAL FINANCIALS

6,348,436

HEALTH

CARE

—

23.6%

BIOTECH

&

PHARMA

—

13.5%

34,548

Abeona

Therapeutics,

Inc.

(a) 176,886

13,778

Aldeyra

Therapeutics,

Inc.

(a) 75,228

23,316

Annexon,

Inc.

(a) 130,569

4,468

Apogee

Therapeutics,

Inc.

(a) 312,760

13,727

Arvinas,

Inc.

(a) 182,157

9,832

Avalo

Therapeutics,

Inc.

(a) 172,060

5,997

Celldex

Therapeutics,

Inc.

(a) 180,450

9,893

Cogent

Biosciences,

Inc.

(a) 384,343

18,663

CorMedix,

Inc.

(a) 133,067

13,760

Day

One

Biopharmaceuticals,

Inc.

(a) 145,856

6,162

Design

Therapeutics,

Inc.

(a) 64,331

2,706

Disc

Medicine,

Inc.

(a) 180,274

11,279

enGene

Holdings,

Inc.

(a) 114,031

25,697

Exagen,

Inc.

(a) 93,023

8,574

Immunome,

Inc.

(a) 187,428

16,118

MeiraGTx

Holdings

PLC

(a) 121,852

4,701

NewAmsterdam

Pharma

Co.

NV

(a) 166,697

2,156

Oruka

Therapeutics,

Inc.

(a) 74,188

33,340

Puma

Biotechnology,

Inc.

(a) 190,038

5,407

Rapport

Therapeutics,

Inc.

(a) 156,965

29,480

Rezolute,

Inc.

(a) 94,631

7,386

Tectonic

Therapeutic,

Inc.

(a) 173,202

13,977

TriSalus

Life

Sciences,

Inc.

(a) 70,724

6,713

Ultragenyx

Pharmaceutical,

Inc.

(a) 157,017

9,374

WAVE

Life

Sciences

Ltd.

(a) 130,580

25,428

Xeris

Biopharma

Holdings,

Inc.

(a) 155,619

4,023,976

HEALTH

CARE

FACILITIES

&

SERVICES

—

2.7%

35,304

AdaptHealth

Corp.

(a) 323,032

6,897

Park

Dental

Partners,

Inc.

(a) 130,077

20,642

Personalis,

Inc.

(a) 187,016

1,877

US

Physical

Therapy,

Inc.

155,716

795,841

MEDICAL

EQUIPMENT

&

DEVICES

—

7.4%

17,040

Adaptive

Biotechnologies

Corp.

(a) 272,981

14,073

Artivion,

Inc.

(a) 541,810

North

Square

Kennedy

MicroCap

Fund

Schedule

of

Investments

(continued)

February

28,

2026

(Unaudited)

Sh

ar

e

s

F

a

i

r

V

a

lu

e

COMMON

STOCKS

—

96.0%

(Continued)

HEALTH

CARE

—

23.6%

(Continued)

MEDICAL

EQUIPMENT

&

DEVICES

—

7.4%

(Continued)

10,834

AtriCure,

Inc.

(a) $

338,671

19,271

Bioventus,

Inc.

(a) 169,199

8,813

Delcath

Systems,

Inc.

(a) 78,436

2,950

Integer

Holdings

Corp.

(a) 255,706

36,159

Neogen

Corp.

(a) 406,066

7,347

OrthoPediatrics

Corp.

(a) 140,842

2,203,711

TOTAL HEALTH

CARE

7,023,528

INDUSTRIALS

—

12.1%

COMMERCIAL

SUPPORT

SERVICES

—

4.0%

6,313

Barrett

Business

Services,

Inc.

175,312

590

CRA

International,

Inc.

101,869

14,853

Healthcare

Services

Group,

Inc.

(a) 323,350

18,783

Kelly

Services,

Inc.,

Class

A

182,383

24,401

Quest

Resource

Holding

Corp.

(a) 43,190

26,032

Resources

Connection,

Inc.

97,880

3,598

V2X,

Inc.

(a) 250,961

1,174,945

ELECTRICAL

EQUIPMENT

—

2.1%

18,930

LSI

Industries,

Inc.

409,267

M-Tron

Industries,

Inc.

(a) 28,037

72,441

SmartRent,

Inc.

(a) 110,110

8,030

Stoneridge,

Inc.

(a) 63,357

610,771

ENGINEERING

&

CONSTRUCTION

—

1.3%

18,835

Orion

Group

Holdings,

Inc.

(a) 258,605

597

VSE

Corp.

135,561

394,166

INDUSTRIAL

INTERMEDIATE

PRODUCTS

—

1.9%

1,028

AZZ,

Inc.

139,788

20,742

Hillman

Solutions

Corp.

170,084

4,348

Insteel

Industries,

Inc.

162,093

4,108

Mayville

Engineering

Co.,

Inc.

(a) 86,268

558,233

MACHINERY

—

1.3%

4,900

Ichor

Holdings

Ltd.

(a) 232,995

630

Lindsay

Corp.

84,861

8,159

Titan

International,

Inc.

(a) 79,387

397,243

TRANSPORTATION

&

LOGISTICS

—

0.7%

6,290

Werner

Enterprises,

Inc.

220,716

North

Square

Kennedy

MicroCap

Fund

Schedule

of

Investments

(continued)

February

28,

2026

(Unaudited)

Sh

ar

e

s

F

a

i

r

V

a

lu

e

COMMON

STOCKS

—

96.0%

(Continued)

INDUSTRIALS

—

12.1%

(Continued)

TRANSPORTATION

EQUIPMENT

—

0.8%

15,879

Aebi

Schmidt

Holding

AG

$

228,975

TOTAL INDUSTRIALS

3,585,049

MATERIALS

—

5.6%

CHEMICALS

—

4.0%

15,589

LSB

Industries,

Inc.

(a) 181,144

3,276

Materion

Corp.

534,185

2,296

Minerals

Technologies,

Inc.

162,144

11,875

Park

Aerospace

Corp.

313,737

1,191,210

CONTAINERS

&

PACKAGING

—

1.6%

2,719

Ranpak

Holdings

Corp.

(a) 13,921

12,048

TriMas

Corp.

470,836

484,757

TOTAL MATERIALS

1,675,967

REAL

ESTATE

—

2.9%

REIT

—

2.9%

37,163

Chatham

Lodging

Trust

286,527

8,605

Community

Healthcare

Trust,

Inc.

147,059

10,470

CTO

Realty

Growth,

Inc.

203,956

9,372

Easterly

Government

Properties,

Inc.

218,180

855,722

TOTAL REAL

ESTATE

855,722

TECHNOLOGY

—

15.8%

SEMICONDUCTORS

—

3.2%

2,889

ACM

Research,

Inc.,

Class

A

(a) 160,860

6,717

Aehr

Test

Systmes

(a) 251,417

1,207

Axcelis

Technologies,

Inc.

(a) 99,710

6,657

Penguin

Solutions,

Inc.

(a) 138,333

10,059

Veeco

Instruments,

Inc.

(a) 307,403

957,723

SOFTWARE

—

5.4%

7,003

Adeia,

Inc.

144,892

19,305

Asure

Software,

Inc.

(a) 176,448

25,958

AudioEye,

Inc.

(a) 177,034

8,686

Computer

Programs

&

Systems,

Inc.

(a) 167,553

7,004

Domo,

Inc.

(a) 25,144

20,795

DoubleVerify

Holdings,

Inc.

(a) 219,179

51,285

Evolent

Health,

Inc.,

Class

A

(a) 166,676

33,868

Health

Catalyst,

Inc.

(a) 54,866

8,404

Red

Violet,

Inc.

(a) 363,977

North

Square

Kennedy

MicroCap

Fund

Schedule

of

Investments

(continued)

February

28,

2026

(Unaudited)

Sh

ar

e

s

F

a

i

r

V

a

lu

e

COMMON

STOCKS

—

96.0%

(Continued)

TECHNOLOGY

—

15.8%

(Continued)

SOFTWARE

—

5.4%

(Continued)

25,747

Sophia

Genetics

S.A.

(a) $

115,862

1,611,631

TECHNOLOGY

HARDWARE

—

5.7%

5,093

Applied

Optoelectronics,

Inc.

(a) 428,983

13,593

Aviat

Networks,

Inc.

(a) 340,369

16,417

CommScope

Holding

Co.,

Inc.

(a) 288,447

7,058

Kornit

Digital

Ltd.

(a) 107,917

11,494

PAR

Technology

Corp.

(a) 188,386

73,293

Powerfleet,

Inc.

(a) 261,656

1,224

Vishay

Precision

Group,

Inc.

(a) 56,390

1,672,148

TECHNOLOGY

SERVICES

—

1.5%

11,765

Cipher

Digital,

Inc.

(a) 183,534

3,124

ICF

International,

Inc.

259,698

443,232

TOTAL TECHNOLOGY

4,684,734

TOTAL

COMMON

STOCKS

(Cost $23,981,374)

28,573,249

EXCHANGE-TRADED

FUNDS

—

1.0%

1,776

iShares®

Micro-Cap

ETF

298,688

TOTAL

EXCHANGE-TRADED

FUNDS

(Cost $300,752)

298,688

RIGHT

—

0.0%

(b) HEALTH

CARE

—

0.0%

(b) 6,763

Alkermes

PLC

-

CVR

–

TOTAL

RIGHT

Cost

($–)

–

SHORT-TERM

INVESTMENTS

—

3.7%

1,094,095

First

American

Treasury

Obligations

Fund,

Class

X,

3.60%

(c) 1,094,095

TOTAL

SHORT-TERM

INVESTMENTS

(Cost

$1,094,095)

1,094,095

TOTAL

INVESTMENTS

—

100.7%

(Cost

$25,376,221)

$

29,966,032

Liabilities

in

Excess

of

Other

Assets —

(0.7)%

(215,206)

NET

ASSETS

—

100.00%

$

29,750,826

(a) Non-income

producing

security.

(b) Percentage

rounds

to

less

than

0.1%.

(c) Rate

disclosed

is

the

seven

day

effective

yield

as

of

February

28,

2026. North

Square

Kennedy

MicroCap

Fund

Schedule

of

Investments

(continued)

February

28,

2026

(Unaudited)

ETF

-

Exchange-Traded

Funds

North

Square

Select

Small

Cap

Fund

Schedule

of

Investments

February

28,

2026

(Unaudited)

Sh

ar

e

s

F

a

i

r

V

a

lu

e

COMMON

STOCKS

—

99.3%

CONSUMER

DISCRETIONARY

—

22.8%

AUTOMOTIVE

—

3.5%

83,791

Holley,

Inc.

(a) $

341,867

6,159

Phinia

,

Inc.

447,328

789,195

LEISURE

FACILITIES

&

SERVICES

—

7.8%

14,398

OneSpaWorld

Holdings

Ltd.

309,989

29,811

Pursuit

Attractions

and

Hospitality,

Inc.

(a) 1,036,231

3,220

Vail

Resorts,

Inc.

437,308

1,783,528

RETAIL

-

DISCRETIONARY

—

6.6%

1,648

Asbury

Automotive

Group,

Inc.

(a) 352,309

44,246

Driven

Brands

Holdings,

Inc.

(a) 486,706

18,027

Valvoline,

Inc.

(a) 681,421

1,520,436

WHOLESALE

-

DISCRETIONARY

—

4.9%

39,715

Openlane

,

Inc.

(a) 1,132,275

TOTAL CONSUMER

DISCRETIONARY

5,225,434

CONSUMER

STAPLES

—

6.3%

FOOD

—

3.0%

7,920

Cal-Maine

Foods,

Inc.

689,911

WHOLESALE

-

CONSUMER

STAPLES

—

3.3%

7,771

Performance

Food

Group

Co.

(a) 754,253

TOTAL CONSUMER

STAPLES

1,444,164

FINANCIALS

—

17.7%

BANKING

—

16.0%

16,059

First

Merchants

Corp.

627,586

7,563

Nicolet

Bankshares

,

Inc.

1,155,324

6,631

Southstate

Bank

Corp.

654,281

6,236

Stock

Yards

Bancorp,

Inc.

399,977

11,574

Webster

Financial

Corp.

834,832

3,672,000

INSTITUTIONAL

FINANCIAL

SERVICES

—

1.7%

8,658

Jefferies

Financial

Group,

Inc.

384,415

TOTAL FINANCIALS

4,056,415

HEALTH

CARE

—

3.0%

HEALTH

CARE

FACILITIES

&

SERVICES

—

3.0%

8,965

HealthEquity,

Inc.

(a) 685,733

TOTAL HEALTH

CARE

685,733

North

Square

Select

Small

Cap

Fund

Schedule

of

Investments

(continued)

February

28,

2026

(Unaudited)

Sh

ar

e

s

F

a

i

r

V

a

lu

e

COMMON

STOCKS

—

99.3%

(Continued)

INDUSTRIALS

—

23.7%

AEROSPACE

&

DEFENSE

—

3.9%

6,784

National

Presto

Industries,

Inc.

(a) $

895,081

COMMERCIAL

SUPPORT

SERVICES

—

2.4%

133,141

Emerald

Holding,

Inc.

555,198

ELECTRICAL

EQUIPMENT

—

7.0%

3,594

Bel

Fuse,

Inc.,

Class

B

825,578

12,441

M-Tron

Industries,

Inc.

(a) 787,391

1,612,969

ENGINEERING

&

CONSTRUCTION

—

3.8%

8,034

Arcosa

,

Inc.

863,494

MACHINERY

—

6.6%

5,874

JBT

Marel

Corp.

904,596

8,640

Terex

Corp.

594,346

1,498,942

TOTAL INDUSTRIALS

5,425,684

MATERIALS

—

13.3%

CONSTRUCTION

MATERIALS

—

3.2%

3,316

Eagle

Materials,

Inc.

742,121

CONTAINERS

&

PACKAGING

—

10.1%

50,523

Myers

Industries,

Inc.

1,130,199

30,435

TriMas

Corp.

1,189,400

2,319,599

TOTAL MATERIALS

3,061,720

REAL

ESTATE

—

3.1%

REAL

ESTATE

OWNERS

&

DEVELOPERS

—

3.1%

32,694

Legacy

Housing

Corp.

(a) 716,653

TOTAL REAL

ESTATE

716,653

TECHNOLOGY

—

9.4%

SOFTWARE

—

7.9%

108,994

ACV

Auctions,

Inc.

(a) 529,711

39,471

Alkami

Technology,

Inc.

(a) 653,047

1,253

Daily

Journal

Corp.

(a) 638,416

1,821,174

TECHNOLOGY

SERVICES

—

1.5%

27,589

Flywire

Corp.

(a) 339,621

TOTAL TECHNOLOGY

2,160,795

TOTAL

COMMON

STOCKS

(Cost $18,484,463)

22,776,598

North

Square

Select

Small

Cap

Fund

Schedule

of

Investments

(continued)

February

28,

2026

(Unaudited)

Sh

ar

e

s

F

a

i

r

V

a

lu

e

SHORT-TERM

INVESTMENTS

—

0.5%

121,703

First

American

Treasury

Obligations

Fund,

Class

X,

3.60%

(b) $

121,703

TOTAL

SHORT-TERM

INVESTMENTS

(Cost

$121,703)

121,703

TOTAL

INVESTMENTS

—

99.8%

(Cost

$18,606,166)

$

22,898,301

Other

Assets

in

Excess

of

Liabilities

—

0.2%

42,209

NET

ASSETS

—

100.00%

$

22,940,510

(a) Non-income

producing

security.

(b) Rate

disclosed

is

the

seven

day

effective

yield

as

of

February

28,

2026. North

Square

Altrinsic

International

Equity

Fund

Schedule

of

Investments

February

28,

2026

(Unaudited)

Sh

ar

e

s

F

air

V

alu

e

COMMON

STOCKS

—

96.2%

Belgium

—

1.0%

6,137

KBC

Groupe

N.V.

(a) $

831,555

Bermuda

—

4.0%

11,970

Axis

Capital

Holdings

Ltd.

1,265,468

6,697

Everest

Re

Group,

Ltd.

2,246,777

3,512,245

Canada

—

1.5%

5,006

Agnico

Eagle

Mines

Ltd.

1,259,510

China

—

1.5%

73,332

Alibaba

Group

Holding

Ltd.

1,327,075

France

—

10.2%

51,777

Bureau

Veritas

SA

1,800,200

6,716

Capgemini

SE

849,159

18,215

Cia

Generale

de

Establissements

Michelin

SCA

736,994

11,091

Danone

SA

954,277

16,804

Sanofi

1,644,251

21,021

SCOR

SE

766,518

26,731

TotalEnergies

SE

2,142,234

8,893,633

Germany

—

10.7%

8,115

Adidas

AG

1,506,348

6,644

Bayerische

Motoren

Werke

AG

696,652

20,100

Daimler

Truck

Holding

AG

1,014,620

8,524

Deutsche

Boerse

AG

2,330,681

22,052

Deutsche

Post

AG

1,299,165

8,426

GEA

Group

A.G.

653,615

3,649

Siemens

AG

1,055,597

14,150

Siemens

Healthineers

AG

144A

(b) 702,174

9,258,852

Hong

Kong

—

1.3%

71,123

Techtronic

Industries

Co.

Ltd.

1,151,890

India

—

1.5%

41,294

HDFC

Bank

Ltd.

-

ADR

1,315,214

Indonesia

—

1.2%

3,234,410

PT

Bank

Mandiri

(Persero)

Tbk

1,014,404

Ireland

—

9.5%

5,400

Aon

PLC,

Class

A

1,811,539

67,234

Bank

of

Ireland

Group

PLC

1,309,767

6,031

CRH

PLC

723,599

14,342

Kerry

Group

PLC,

Class

A

1,274,984

17,105

Medtronic

PLC

1,670,475

North

Square

Altrinsic

International

Equity

Fund

Schedule

of

Investments

(continued)

February

28,

2026

(Unaudited)

Sh

ar

e

s

F

air

V

alu

e

COMMON

STOCKS

—

96.2%

(Continued)

Ireland

—

9.5%

(Continued)

4,691

Willis

Towers

Watson

PLC

$

1,431,552

8,221,916

Israel

—

1.3%

7,578

Check

Point

Software

Technologies

Ltd.

(a) 1,152,386

Italy

—

1.1%

41,090

FinecoBank

SpA

967,485

Japan

—

15.2%

51,547

Daito

Trust

Construction

Co.,

Ltd.

1,187,012

68,930

Japan

Exchange

Group,

Inc.

938,064

83,573

Kubota

Corp.

1,698,804

69,689

Murata

Manufacturing

Co.

Ltd.,

F

1,822,363

3,244

SMC

Corp.

1,551,778

85,198

Sony

Group

Corp.

1,958,553

59,568

Sumitomo

Mitsui

Trust

Holdings,

Inc.

2,077,071

128,349

Suzuki

Motor

Corp.

1,941,070

13,174,715

Korea

(Republic

Of)

—

4.3%

9,690

Hana

Financial

Group,

Inc.

818,484

15,510

KB

Financial

Group,

Inc.

1,709,374

Samsung

Electronics

Co.

Ltd.

-

ADR

1,215,080

3,742,938

Mexico

—

3.8%

6,593

Fomento

Economico

Mexicano

SAB

de

CV

-

ADR

740,526

127,901

Grupo

Financiero

Banorte

SAB

de

CV

1,454,394

345,862

Wal-Mart

de

Mexico

SAB

de

CV

1,122,648

3,317,568

Netherlands

—

6.9%

16,920

Akzo

Nobel

N.V.

1,189,187

9,057

Euronext

N.V.

1,497,095

19,069

Heineken

N.V.

1,767,005

48,983

Koninklijke

Philips

N.V.

1,570,438

6,023,725

Norway

—

1.5%

41,427

DNB

Bank

ASA

1,311,322

South

Africa

—

0.1%

2,706

Standard

Bank

Group

Ltd.

54,501

Spain

—

1.0%

52,138

Bankinter

SA

865,563

Sweden

—

1.5%

59,865

Hexagon

AB

681,240

North

Square

Altrinsic

International

Equity

Fund

Schedule

of

Investments

(continued)

February

28,

2026

(Unaudited)

Sh

ar

e

s

F

air

V

alu

e

COMMON

STOCKS

—

96.2%

(Continued)

Sweden

—

1.5%

(Continued)

13,483

Sandvik

AB

(a) $

594,389

1,275,629

Switzerland

—

6.6%

9,102

Chubb

Ltd.

3,102,508

7,141

Nestle

SA

780,300

6,144

Sandoz

Group

AG

541,288

1,732

Zurich

Insurance

Group

Ltd.

1,306,610

5,730,706

United

Kingdom

—

10.6%

21,720

Admiral

Group

PLC

867,764

25,864

BP

PLC

-

ADR

1,005,075

53,553

Diageo

PLC

1,201,093

72,848

GSK

PLC

2,164,705

171,769

Haleon

PLC

942,896

116,191

Informa

PLC

1,312,386

11,817

Intertek

Group

PLC

753,033

51,019

Smith

&

Nephew

PLC

941,879

9,188,831

TOTAL

COMMON

STOCKS

(Cost

$61,688,342)

83,591,663

PREFERRED

STOCKS

—

0.6%

Brazil

—

0.6%

57,387

Itau

Unibanco

Holdings

SA

519,979

TOTAL

PREFERRED

STOCKS

(Cost

$295,970)

519,979

SHORT-TERM

INVESTMENTS

—

2.2%

1,908,413

First

American

Treasury

Obligations

Fund,

Class

X,

3.60%

(c) 1,908,413

TOTAL

SHORT-TERM

INVESTMENTS

(Cost

$1,908,413)

1,908,413

TOTAL

INVESTMENTS

—

99.0%

(Cost

$63,892,725)

$

86,020,055

Other

Assets

in

Excess

of

Liabilities

—

1.0%

837,547

NET

ASSETS

—

100.0%

$

86,857,602

(a) Non-income

producing

security.

(b) Security

exempt

from

registration

under

Rule

144A

or

Section

4(2)

of

the

Securities

Act

of

1933. The

security

may

be

resold

in

transactions

exempt

from

registration,

normally

to

qualified

institutional

buyers.

As

of

February

28,

2026

the

total

market

value

of

144A

securities

is

$702,174

or

0.8%

of

net

assets.

(c) Rate

disclosed

is

the

seven

day

effective

yield

as

of

February

28,

2026. ADR

-

American

Depositary

Receipt.

North

Square

McKee

Bond

Fund

Schedule

of

Investments

February

28,

2026

(Unaudited)

,

P

r

i

nc

i

p

a

l

Amo

u

nt

($)

F

a

i

r

V

a

lu

e

ASSET

BACKED

SECURITIES

—

2.6%

400,000

Aligned

Data

Centers

Issuer

LLC

2021-1A

A2,

1.94%,

8/15/46

(a) $

395,325

Ally

Auto

Receivables

Trust

2022-2

A3,

4.76%,

5/17/27

10,000

BBCMS

Mortgage

Trust

2017-C1

A4,

3.67%,

2/15/50

9,925

41,406

BBCMS

Mortgage

Trust

2022-C14

A1,

1.73%,

2/18/55

40,965

3,019

Carmax

Auto

Owner

Trust

2022-4

A3,

5.34%,

8/15/27

3,025

600,000

CarMax

Auto

Owner

Trust

2024-4

A3,

4.60%,

10/15/29

606,614

72,120

Dell

Equipment

Finance

Trust

2023-3

A3,

5.93%,

6/22/26

(a) 72,430

476,902

EQUS

2021-EQAZ

A

Mortgage

Trust,

4.70%,

10/15/36

(1MO

SOFR

+

102bps)

(a)(b) 477,092

5,000

Ford

Credit

Auto

Owner

Trust

2024-C

A3,

4.07%,

7/15/29

5,021

400,000

GMF

Floorplan

Owner

Revolving

Trust

2025-2A

A,

4.64%,

3/15/30

(a) 407,067

209,054

Harley-Davidson

Motorcycle

Trust

2024-A

A3,

5.37%,

3/15/29

211,835

520,000

NextGear

Floorplan

Master

Owner

Trust

2024-2A

A2,

4.42%,

9/15/27

(a) 525,362

1,050,000

Toyota

Auto

Receivables

2024-C

A3

Owner

Trust,

4.88%,

1/18/28

1,059,627

524,535

Tricon

Residential

2022-SFR2

A

Trust,

3.86%,

4/19/39

(a) 522,003

465,000

Verizon

Master

Trust

2023-7

A1A,

5.67%,

11/20/26

472,332

464,000

Verizon

Master

Trust

2025-7

A1A,

3.96%,

8/20/31

468,162

TOTAL

ASSET

BACKED

SECURITIES

(Cost $5,239,441)

5,277,176

CORPORATE

BONDS

—

29.2%

COMMUNICATIONS

—

2.6%

CABLE

&

SATELLITE

—

0.3%

812,000

Comcast

Corp.,

3.25%,

11/01/39

648,663

ENTERTAINMENT

CONTENT

—

0.9%

719,000

Fox

Corp.,

6.50%,

10/13/33

789,393

437,000

Walt

Disney

Co.

(The),

4.00%,

3/14/31

438,008

769,000

Walt

Disney

Co.

(The),

3.50%,

5/13/40

652,363

1,879,764

INTERNET

MEDIA

&

SERVICES

—

0.9%

579,000

Alphabet,

Inc.,

4.40%,

2/15/33

584,274

474,000

Alphabet,

Inc.,

4.70%,

11/15/35

480,134

219,000

Alphabet,

Inc.,

5.50%,

2/15/46

223,141

466,000

Meta

Platforms,

Inc.,

4.60%,

11/15/32

473,949

218,000

Meta

Platforms,

Inc.,

5.60%,

5/15/53

212,395

1,973,893

TELECOMMUNICATIONS

—

0.5%

1,227,000

Verizon

Communications,

Inc.,

2.65%,

11/20/40

894,720

TOTAL COMMUNICATIONS

5,397,040

CONSUMER

DISCRETIONARY

—

1.9%

AUTOMOTIVE

—

1.6%

640,000

Ford

Motor

Co.,

Class

B,

3.25%,

2/12/32

576,326

959,000

General

Motors

Financial

Co.,

Inc.,

5.35%,

1/07/30

995,651

North

Square

McKee

Bond

Fund

Schedule

of

Investments

(continued)

February

28,

2026

(Unaudited)

P

r

i

nc

i

p

a

l

Amo

u

nt

($)

F

a

i

r

V

a

lu

e

CORPORATE

BONDS

—

29.2%

(Continued)

CONSUMER

DISCRETIONARY

—

1.9%

(continued)

AUTOMOTIVE

—

1.6%

(continued)

1,582,000

Honda

Motor

Co.

Ltd.,

4.69%,

7/08/30

$

1,613,048

3,185,025

LEISURE

FACILITIES

&

SERVICES

—

0.0%

(c) 122,000

McDonald's

Corp.,

4.40%,

2/12/31

124,034

RETAIL

-

DISCRETIONARY

—

0.3%

571,000

Lowe's

Companies,

Inc.,

4.50%,

10/15/32

573,667

TOTAL CONSUMER

DISCRETIONARY

3,882,726

CONSUMER

STAPLES

—

0.8%

BEVERAGES

—

0.4%

541,000

Coca-Cola

Co.

(The),

3.45%,

3/25/30

535,026

159,000

Keurig

Dr

Pepper,

Inc.,

5.20%,

3/15/31

164,346

699,372

HOUSEHOLD

PRODUCTS

—

0.3%

643,000

Procter

&

Gamble

Co.

(The),

4.10%,

11/03/32

647,875

TOBACCO

&

CANNABIS

—

0.1%

292,000

Philip

Morris

International,

Inc.,

5.13%,

2/15/30

303,461

TOTAL CONSUMER

STAPLES

1,650,708

ENERGY

—

3.2%

OIL

&

GAS

PRODUCERS

—

3.2%

158,000

BP

Capital

Markets

America,

Inc.,

4.89%,

9/11/33

162,451

806,000

Chevron

Corp.,

4.82%,

4/15/32

839,111

831,000

ConocoPhillips

Co.,

5.30%,

5/15/53

788,867

323,000

Energy

Transfer

L.P.,

3.75%,

5/15/30

317,836

1,156,000

Exxon

Mobil

Corp.,

4.33%,

3/19/50

990,613

381,000

ONEOK,

Inc.,

4.95%,

10/15/32

387,775

269,000

ONEOK,

Inc.,

5.70%,

11/01/54

253,675

738,000

Phillips

Co.,

5.25%,

6/15/31

772,855

554,000

Saudi

Arabian

Oil

Co.,

5.00%,

2/02/36

(a) 555,066

351,000

Shell

Finance

US,

Inc.,

4.75%,

1/06/36

353,847

560,000

TotalEnergies

Capital

SA,

5.49%,

4/05/54

553,904

627,000

TotalEnergies

Capital

USA

LLC,

4.57%,

1/13/33

635,003

6,611,003

TOTAL ENERGY

6,611,003

FINANCIALS

—

11.4%

ASSET

MANAGEMENT

—

0.1%

179,000

Charles

Schwab

Corp.

(The),

4.91%,

11/14/36

(b) 179,124

BANKING

—

8.4%

245,000

American

Express

National

Bank,

4.05%,

4/10/28

246,086

North

Square

McKee

Bond

Fund

Schedule

of

Investments

(continued)

February

28,

2026

(Unaudited)

P

r

i

nc

i

p

a

l

Amo

u

nt

($)

F

a

i

r

V

a

lu

e

CORPORATE

BONDS

—

29.2%

(Continued)

FINANCIALS

—

11.4%

(continued)

BANKING

—

8.4%

(continued)

505,000

Bank

of

America

Corp.,

4.46%,

2/06/32

(b) $

508,891

487,000

Bank

of

Nova

Scotia

(The),

5.13%,

2/14/31

(SOFRRATE

+

107bps)

(b) 504,402

592,000

Canadian

Imperial

Bank

of

Commerce,

5.26%,

4/08/29

614,560

596,000

Citigroup,

Inc.,

4.95%,

5/07/31

(b) 611,438

737,000

Goldman

Sachs

Bank

USA,

3.85%,

2/24/28

737,142

510,000

HSBC

Holdings

PLC,

5.29%,

11/19/30

(b) 528,789

1,557,000

JPMorgan

Chase

&

Co.,

5.14%,

1/24/31

(SOFRRATE

+

90bps)

(b) 1,615,963

709,000

JPMorgan

Chase

&

Co.,

4.81%,

10/22/36

(SOFRRATE

+

1bps)

(b) 707,929

1,830,000

Morgan

Stanley

Bank

NA,

3.85%,

2/18/28

1,830,393

1,830,000

Morgan

Stanley

Private

Bank

NA,

3.85%,

2/18/28

1,830,393

690,000

Morgan

Stanley

Private

Bank

NA,

4.73%,

7/18/31

(SOFRRATE

+

108bps)

(b) 702,763

250,000

PNC

Financial

Services

Group,

Inc.

(The),

6.88%,

10/20/34

(SOFRRATE

+

2bps)

(b) 284,722

1,113,000

Royal

Bank

of

Canada,

4.65%,

10/18/30

(SOFRINDX

+

108bps)

(b) 1,135,657

240,000

Toronto-Dominion

Bank

(The),

4.86%,

1/31/28

244,616

300,000

Truist

Financial

Corp.,

4.60%,

1/27/32

(b) 303,240

185,000

Truist

Financial

Corp.,

5.12%,

1/26/34

(b) 189,810

1,860,000

UBS

Bank

USA,

3.80%,

2/11/28

1,859,322

750,000

UBS

Bank

USA,

3.95%,

2/19/30

752,058

685,000

US

Bancorp,

5.05%,

2/12/31

(SOFRRATE

+

106bps)

(b) 707,815

1,000,000

Wells

Fargo

Bank

NA,

4.25%,

3/11/27

1,005,414

16,921,403

INSTITUTIONAL

FINANCIAL

SERVICES

—

2.5%

296,000

Bank

of

New

York

Mellon

Corp.

(The),

4.94%,

2/11/31

(b) 305,455

852,000

Bank

of

New

York

Mellon

Corp.

(The),

5.06%,

7/22/32

(b) 886,751

245,000

Goldman

Sachs

Bank

USA,

4.30%,

3/11/27

246,350

1,320,000

Goldman

Sachs

Bank

USA,

3.85%,

2/22/28

1,320,784

893,000

Goldman

Sachs

Group

Inc.

(The),

4.37%,

10/21/31

(b) 893,763

219,000

Goldman

Sachs

Group

Inc.

(The),

4.94%,

10/21/36

(b) 218,304

429,000

Morgan

Stanley,

5.23%,

1/15/31

(b) 444,343

1,107,000

Morgan

Stanley,

5.07%,

1/30/37

(b) 1,116,868

5,432,618

SPECIALTY

FINANCE

—

0.4%

329,000

Capital

One

Financial

Corp.,

5.46%,

7/26/30

(SOFRRATE

+

156bps)

(b) 341,428

360,000

Capital

One

Financial

Corp.,

4.49%,

9/11/31

(b) 360,141

701,569

TOTAL FINANCIALS

23,234,714

HEALTH

CARE

—

1.8%

BIOTECH

&

PHARMA

—

0.8%

245,000

AbbVie,

Inc.,

4.40%,

3/15/33

246,100

513,000

Eli

Lilly

&

Co.,

5.00%,

2/09/54

482,280

North

Square

McKee

Bond

Fund

Schedule

of

Investments

(continued)

February

28,

2026

(Unaudited)

P

r

i

nc

i

p

a

l

Amo

u

nt

($)

F

a

i

r

V

a

lu

e

CORPORATE

BONDS

—

29.2%

(Continued)

HEALTH

CARE

—

1.8%

(continued)

BIOTECH

&

PHARMA

—

0.8%

(continued)

796,000

Merck

&

Co.,

Inc.,

4.75%,

12/04/35

$

803,554

1,531,934

HEALTH

CARE

FACILITIES

&

SERVICES

—

1.0%

207,000

Cigna

Group

(The),

4.88%,

9/15/32

211,808

883,000

Cigna

Group

(The),

5.25%,

1/15/36

907,262

263,000

UnitedHealth

Group,

Inc.,

2.30%,

5/15/31

240,228

393,000

UnitedHealth

Group,

Inc.,

5.15%,

7/15/34

406,247

266,000

UnitedHealth

Group,

Inc.,

5.88%,

2/15/53

270,704

2,036,249

TOTAL HEALTH

CARE

3,568,183

INDUSTRIALS

—

2.4%

AEROSPACE

&

DEFENSE

—

0.4%

394,000

Boeing

Co.

(The),

5.15%,

5/01/30

408,153

446,000

Lockheed

Martin

Corp.,

4.70%,

5/15/46

412,634

820,787

DIVERSIFIED

INDUSTRIALS

—

0.5%

1,079,000

Honeywell

International,

Inc.,

4.75%,

2/01/32

1,112,007

ELECTRICAL

EQUIPMENT

—

0.2%

299,000

Johnson

Controls

International

PLC,

5.50%,

4/19/29

312,786

MACHINERY

—

0.1%

249,000

Caterpillar,

Inc.,

5.20%,

5/15/35

260,948

TRANSPORTATION

&

LOGISTICS

—

1.2%

457,631

BNSF

Railway

Co.

2015-1

Pass

Through

Trust,

3.44%,

6/16/28

(a) 453,709

1,097,000

Burlington

Northern

Santa

Fe

LLC,

4.55%,

9/01/44

992,699

258,360

FedEx

Corp.

2020-1

Class

AA

Pass

Through

Trust,

1.88%,

2/20/34

230,248

500,000

FedEx

Freight

Holding

Co.,

Inc.,

4.95%,

3/15/33

(a) 500,162

8,608

Union

Pacific

Railroad

Co.

2005

Pass

Through

Trust,

5.08%,

1/02/29

8,766

155,401

Union

Pacific

Railroad

Co.

2014-1

Pass

Through

Trust,

3.23%,

5/14/26

155,168

2,340,752

TOTAL INDUSTRIALS

4,847,280

REAL

ESTATE

—

0.3%

REIT

—

0.3%

449,000

American

Tower

Corp.,

3.80%,

8/15/29

445,508

239,000

American

Tower

Corp.,

4.70%,

12/15/32

241,818

687,326

TOTAL REAL

ESTATE

687,326

TECHNOLOGY

—

1.9%

SEMICONDUCTORS

—

0.6%

398,000

Broadcom,

Inc.,

4.35%,

2/15/30

403,055

North

Square

McKee

Bond

Fund

Schedule

of

Investments

(continued)

February

28,

2026

(Unaudited)

P

r

i

nc

i

p

a

l

Amo

u

nt

($)

F

a

i

r

V

a

lu

e

CORPORATE

BONDS

—

29.2%

(Continued)

TECHNOLOGY

—

1.9%

(continued)

SEMICONDUCTORS

—

0.6%

(continued)

861,000

Broadcom,

Inc.,

4.90%,

7/15/32

$

887,041

1,290,096

SOFTWARE

—

0.8%

163,000

Oracle

Corp.,

4.55%,

2/04/29

163,346

1,054,000

Oracle

Corp.,

4.45%,

9/26/30

1,034,037

533,000

Oracle

Corp.,

5.88%,

9/26/45

483,219

1,680,602

TECHNOLOGY

HARDWARE

—

0.2%

632,000

Apple,

Inc.,

2.95%,

9/11/49

432,033

TECHNOLOGY

SERVICES

—

0.3%

600,000

International

Business

Machines

Corp.,

4.15%,

5/15/39

538,310

TOTAL TECHNOLOGY

3,941,041

UTILITIES

—

2.9%

ELECTRIC

UTILITIES

—

2.9%

494,000

Alabama

Power

Co.,

3.45%,

10/01/49

360,279

129,000

Berkshire

Hathaway

Energy

Co.,

3.70%,

7/15/30

127,787

1,446,000

Duke

Energy

Carolinas

LLC,

5.30%,

2/15/40

1,478,698

222,000

Duke

Energy

Corp.,

4.95%,

9/15/35

222,555

342,000

Entergy

Corp.,

1.90%,

6/15/28

326,897

363,000

Florida

Power

&

Light

Co.,

5.30%,

6/15/34

382,812

472,000

Florida

Power

&

Light

Co.,

5.30%,

4/01/53

460,178

1,334,000

MidAmerican

Energy

Co.,

4.25%,

7/15/49

1,116,374

136,000

NextEra

Energy

Capital

Holdings,

Inc.,

2.25%,

6/01/30

126,250

419,000

Virginia

Electric

and

Power

Co.,

4.95%,

3/15/36

418,480

862,000

Virginia

Electric

and

Power

Co.,

5.45%,

4/01/53

829,843

5,850,153

TOTAL UTILITIES

5,850,153

TOTAL

CORPORATE

BONDS

(Cost $59,001,404)

59,670,174

MORTGAGE-BACKED

SECURITIES

—

26.8%

257,164

Fannie

Mae

Pool

,

4.00%,

5/15/27

252,051

12,932

Fannie

Mae

Pool

,

5.00%,

11/01/29

13,134

17,429

Fannie

Mae

Pool

,

1.50%,

10/01/36

16,018

15,425

Fannie

Mae

Pool

,

2.50%,

4/01/37

14,621

82,723

Fannie

Mae

Pool

,

3.50%,

10/13/37

79,364

65,129

Fannie

Mae

Pool

,

3.50%,

12/01/37

64,257

238,457

Fannie

Mae

Pool

,

3.00%,

1/01/40

226,198

223,147

Fannie

Mae

Pool

,

3.00%,

10/01/40

211,588

206,839

Fannie

Mae

Pool

,

2.00%,

11/01/40

186,121

146,242

Fannie

Mae

Pool

,

2.00%,

1/01/41

131,221

176,931

Fannie

Mae

Pool

,

2.50%,

3/01/41

163,140

North

Square

McKee

Bond

Fund

Schedule

of

Investments

(continued)

February

28,

2026

(Unaudited)

P

r

i

nc

i

p

a

l

Amo

u

nt

($)

F

a

i

r

V

a

lu

e

MORTGAGE-BACKED

SECURITIES

—

26.8%

(Continued)

367,715

Fannie

Mae

Pool

,

2.50%,

9/01/41

$

339,071

413,210

Fannie

Mae

Pool

,

2.50%,

10/01/41

381,023

224,665

Fannie

Mae

Pool

,

2.50%,

11/01/41

206,977

264,508

Fannie

Mae

Pool

,

3.50%,

9/01/42

258,349

73,669

Fannie

Mae

Pool

,

3.00%,

4/01/46

68,541

68,423

Fannie

Mae

Pool

,

3.50%,

6/01/46

65,907

17,594

Fannie

Mae

Pool

,

3.00%,

11/01/46

16,305

170,490

Fannie

Mae

Pool

,

5.00%,

11/01/46

176,643

84,034

Fannie

Mae

Pool

,

3.00%,

4/01/48

77,818

311,404

Fannie

Mae

Pool

,

4.50%,

1/01/49

312,329

17,402

Fannie

Mae

Pool

,

2.50%,

7/01/49

15,544

68,533

Fannie

Mae

Pool

,

3.00%,

12/01/49

63,087

226,778

Fannie

Mae

Pool

,

2.50%,

5/01/50

193,451

1,049,130

Fannie

Mae

Pool

,

2.50%,

6/01/50

927,711

190,582

Fannie

Mae

Pool

,

5.00%,

6/01/50

194,893

113,363

Fannie

Mae

Pool

,

2.50%,

10/01/50

100,245

16,337

Fannie

Mae

Pool

,

2.00%,

1/01/51

13,804

301,402

Fannie

Mae

Pool

,

2.50%,

2/01/51

267,526

339,703

Fannie

Mae

Pool

,

2.50%,

2/01/51

298,604

250,410

Fannie

Mae

Pool

,

2.00%,

3/01/51

212,226

23,609

Fannie

Mae

Pool

,

2.00%,

5/01/51

19,726

22,297

Fannie

Mae

Pool

,

2.50%,

5/01/51

19,745

608,842

Fannie

Mae

Pool

,

2.50%,

6/01/51

538,894

323,550

Fannie

Mae

Pool

,

2.50%,

6/01/51

286,375

1,054,780

Fannie

Mae

Pool

,

2.50%,

7/01/51

931,014

615,378

Fannie

Mae

Pool

,

2.50%,

8/01/51

541,021

226,149

Fannie

Mae

Pool

,

2.50%,

10/01/51

197,632

23,275

Fannie

Mae

Pool

,

2.50%,

10/01/51

20,325

223,798

Fannie

Mae

Pool

,

2.00%,

1/01/52

188,168

225,194

Fannie

Mae

Pool

,

3.00%,

1/01/52

205,754

259,181

Fannie

Mae

Pool

,

3.50%,

1/01/52

245,592

533,150

Fannie

Mae

Pool

,

4.00%,

1/01/52

525,708

492,875

Fannie

Mae

Pool

,

2.00%,

2/01/52

416,562

36,730

Fannie

Mae

Pool

,

2.00%,

3/01/52

31,067

378,633

Fannie

Mae

Pool

,

5.00%,

11/01/52

382,643

215,301

Fannie

Mae

Pool

,

6.50%,

1/01/53

226,139

329,142

Fannie

Mae

Pool

,

6.00%,

9/01/53

345,234

490,346

Fannie

Mae

Pool

,

5.50%,

3/01/54

505,185

1,134,161

Fannie

Mae

Pool

,

6.00%,

3/01/55

1,182,091

52,058

Fannie

Mae

Pool

,

4.50%,

4/01/56

52,296

288,903

Fannie

Mae

Pool

,

4.50%,

8/01/56

288,798

436,199

Fannie

Mae

Pool

,

5.50%,

9/01/56

452,761

12,411

Fannie

Mae

REMICS

2005-69

AG

,

5.00%,

8/25/35

12,777

856,514

Fannie

Mae

REMICS

2005-W1

1A1

,

6.00%,

10/25/44

902,355

26,029

Fannie

Mae

REMICS

2012-111

EC

,

2.00%,

12/25/41

24,676

3,958

Fannie

Mae

REMICS

2012-145

EA

,

1.25%,

1/25/28

3,881

North

Square

McKee

Bond

Fund

Schedule

of

Investments

(continued)

February

28,

2026

(Unaudited)

P

r

i

nc

i

p

a

l

Amo

u

nt

($)

F

a

i

r

V

a

lu

e

MORTGAGE-BACKED

SECURITIES

—

26.8%

(Continued)

1,236

Fannie

Mae

REMICS

2012-34PC

,

5.50%,

1/25/32

$

1,239

100,696

Fannie

Mae

REMICS

2013-2

MA

,

3.50%,

2/25/43

98,014

54,683

Fannie

Mae

REMICS

2013-31

NL

,

4.00%,

4/25/33

54,839

300,000

Fannie

Mae

REMICS

2017-44

VB

,

3.50%,

10/25/37

296,641

39,952

Fannie

Mae

REMICS

2017-82

PA

,

3.00%,

4/25/45

38,889

195,544

Fannie

Mae

REMICS

2017-89

PL

,

3.00%,

6/25/43

193,842

57,648

Fannie

Mae

REMICS

2018-62

PT

,

3.50%,

9/25/48

56,556

49,354

Fannie

Mae

REMICS

2019-35

A

,

3.00%,

7/25/49

45,887

116,308

Fannie

Mae

REMICS

2019-37

AG

,

3.50%,

6/25/53

114,216

13,235

Fannie

Mae

REMICS

2019-39

LA

,

3.00%,

2/25/49

12,561

142,516

Fannie

Mae

REMICS

2020-12

JC

,

2.00%,

3/25/50

123,460

484,351

Fannie

Mae

REMICS

2020-48

DA

,

2.00%,

7/25/50

419,118

80,843

Fannie

Mae

REMICS

2020-78

CA

,

2.00%,

10/25/44

75,265

8,767

Fannie

Mae

REMICS

2021-3

ME

,

1.00%,

2/25/51

6,951

33,547

Fannie

Mae

REMICS

2022-75

A

,

5.50%,

1/25/49

33,956

299,102

Fannie

Mae

REMICS

2023-21

,

5.00%,

1/25/53

303,465

204,930

Fannie

Mae

REMICS

2024-11

BK

,

5.00%,

2/25/51

204,852

369,962

Fannie

Mae

REMICS

2024-26

A

,

5.00%,

7/25/51

371,558

305,410

Fannie

Mae

REMICS

2024-9

NP

,

5.50%,

6/25/44

309,238

1,240,000

Federal

Farm

Credit

Banks

Funding

Corp.

,

4.59%,

8/25/31

1,241,796

1,387,000

Federal

Farm

Credit

Banks

Funding

Corp.

,

5.11%,

7/15/32

1,392,728

852,000

Federal

Farm

Credit

Banks

Funding

Corp.

,

4.94%,

3/03/33

858,515

1,376,000

Federal

Farm

Credit

Banks

Funding

Corp.

,

5.27%,

6/23/33

1,378,520

920,000

Federal

Home

Loan

Banks

,

4.85%,

9/24/32

922,145

1,815,000

Federal

Home

Loan

Banks

,

5.35%,

6/12/34

1,824,716

29,262

Freddie

Mac

Gold

Pool

,

3.00%,

11/01/42

27,638

4,998

Freddie

Mac

Gold

Pool

,

3.00%,

11/01/46

4,642

194,198

Freddie

Mac

Gold

Pool

,

3.00%,

12/01/46

180,481

108,118

Freddie

Mac

Gold

Pool

,

3.00%,

1/01/47

100,001

441,499

Freddie

Mac

Pool

,

2.50%,

3/15/28

390,429

216,999

Freddie

Mac

Pool

,

3.50%,

6/15/29

206,334

224,685

Freddie

Mac

Pool

,

3.00%,

7/01/38

216,174

6,954

Freddie

Mac

Pool

,

2.50%,

5/01/50

5,932

112,315

Freddie

Mac

Pool

,

2.00%,

8/01/50

95,361

205,617

Freddie

Mac

Pool

,

2.50%,

11/01/50

180,000

176,072

Freddie

Mac

Pool

,

2.50%,

12/01/50

155,699

271,435

Freddie

Mac

Pool

,

2.00%,

2/01/51

227,048

587,947

Freddie

Mac

Pool

,

2.50%,

3/01/51

520,405

30,757

Freddie

Mac

Pool

,

2.50%,

5/01/51

27,219

22,164

Freddie

Mac

Pool

,

2.50%,

6/01/51

19,386

386,275

Freddie

Mac

Pool

,

2.50%,

9/01/51

343,003

360,446

Freddie

Mac

Pool

,

2.00%,

11/01/51

300,266

402,830

Freddie

Mac

Pool

,

3.00%,

12/01/51

367,810

630,559

Freddie

Mac

Pool

,

3.00%,

8/01/52

576,890

427,269

Freddie

Mac

Pool

,

5.00%,

12/01/52

437,972

462,108

Freddie

Mac

Pool

,

6.00%,

2/01/53

483,915

North

Square

McKee

Bond

Fund

Schedule

of

Investments

(continued)

February

28,

2026

(Unaudited)

P

r

i

nc

i

p

a

l

Amo

u

nt

($)

F

a

i

r

V

a

lu

e

MORTGAGE-BACKED

SECURITIES

—

26.8%

(Continued)

227,266

Freddie

Mac

Pool

,

5.50%,

6/01/53

$

232,366

16,836

Freddie

Mac

Pool

,

6.00%,

8/01/53

17,425

352,833

Freddie

Mac

Pool

,

5.50%,

9/01/53

365,088

16,755

Freddie

Mac

Pool

,

6.50%,

11/01/53

17,645

189,213

Freddie

Mac

Pool

,

5.50%,

11/01/54

195,247

497,701

Freddie

Mac

Pool

,

5.50%,

11/01/55

506,681

402,135

Freddie

Mac

Pool

,

5.50%,

11/01/55

410,294

8,069

Freddie

Mac

REMICS

4091

KC

,

3.00%,

8/15/40

8,051

8,546

Freddie

Mac

REMICS

4097

BG

,

2.00%,

12/15/41

8,195

20,399

Freddie

Mac

REMICS

4322

DJ

,

3.00%,

5/15/43

20,149

7,547

Freddie

Mac

REMICS

4338

HP

,

3.00%,

11/15/43

7,519

107,030

Freddie

Mac

REMICS

4569

DA

,

3.00%,

8/15/44

105,004

5,849

Freddie

Mac

REMICS

4590

AK

,

3.50%,

8/15/27

5,839

21,530

Freddie

Mac

REMICS

4628

KA

,

3.00%,

1/15/55

21,096

115,871

Freddie

Mac

REMICS

4639

KB

,

3.25%,

4/15/53

114,239

528,190

Freddie

Mac

REMICS

4948

E

,

2.50%,

10/25/48

493,647

82,481

Freddie

Mac

REMICS

4994

GA

,

2.00%,

3/25/44

79,255

222,073

Freddie

Mac

REMICS

4998

A

,

2.00%,

5/25/46

203,790

327,696

Freddie

Mac

REMICS

5009

TA

,

1.00%,

9/25/50

261,785

41,986

Freddie

Mac

REMICS

5019

GH

,

2.00%,

6/25/42

40,386

16,712

Freddie

Mac

REMICS

5056

PB

,

0.75%,

12/25/50

13,340

38,203

Freddie

Mac

REMICS

5070

JP

,

2.00%,

1/25/51

32,119

152,144

Freddie

Mac

REMICS

5072

NJ

,

1.00%,

1/25/50

120,250

683,082

Freddie

Mac

REMICS

5100

PD

,

1.50%,

2/25/49

571,479

97,186

Freddie

Mac

REMICS

5131

TG

,

1.00%,

4/25/49

84,520

224,820

Freddie

Mac

REMICS

5199

BA

,

3.00%,

6/25/48

212,651

947,136

Freddie

Mac

REMICS

5419

CA

,

5.50%,

9/25/49

957,502

392,291

Freddie

Mac

REMICS

5522

DE

,

5.50%,

11/25/51

397,667

773,713

Freddie

Mac

REMICS

5604

EA

,

4.50%,

4/25/52

775,435

69,344

Freddie

Mac

Structured

Pass-Through

Certificates

,

5.07%,

7/25/44

(12MTA

+

140bps)

(b) 67,860

10,688

Freddie

Mac

Structured

Pass-Through

Certificates

,

4.87%,

10/25/44

(12MTA

+

120bps)

(b) 9,915

225,646

Ginnie

Mae

I

Pool

,

3.00%,

8/15/45

209,230

9,656

Ginnie

Mae

II

Pool

,

3.50%,

4/20/27

9,613

4,252

Ginnie

Mae

II

Pool

,

3.50%,

7/20/27

4,232

354,045

Ginnie

Mae

II

Pool

,

3.50%,

12/20/34

351,142

1,808

Ginnie

Mae

II

Pool

,

5.00%,

6/20/48

1,844

39,664

Ginnie

Mae

II

Pool

,

5.00%,

7/20/48

40,469

341,948

Ginnie

Mae

II

Pool

,

3.50%,

1/20/50

326,631

207,505

Ginnie

Mae

II

Pool

,

2.50%,

12/20/50

181,634

1,049,177

Ginnie

Mae

II

Pool

,

2.00%,

2/20/51

870,802

2,440,702

Ginnie

Mae

II

Pool

,

2.00%,

3/20/51

2,038,042

745,628

Ginnie

Mae

II

Pool

,

2.00%,

4/20/51

619,784

1,299,787

Ginnie

Mae

II

Pool

,

2.50%,

6/20/51

1,126,876

407,631

Ginnie

Mae

II

Pool

,

2.50%,

9/20/51

356,564

North

Square

McKee

Bond

Fund

Schedule

of

Investments

(continued)

February

28,

2026

(Unaudited)

P

r

i

nc

i

p

a

l

Amo

u

nt

($)

F

a

i

r

V

a

lu

e

MORTGAGE-BACKED

SECURITIES

—

26.8%

(Continued)

708,820

Ginnie

Mae

II

Pool

,

3.00%,

3/20/52

$

650,080

362,028

Ginnie

Mae

II

Pool

,

4.00%,

7/20/52

344,500

371,414

Ginnie

Mae

II

Pool

,

5.00%,

11/20/52

375,610

266,638

Ginnie

Mae

II

Pool

,

2.50%,

2/20/53

236,194

284,492

Ginnie

Mae

II

Pool

,

5.50%,

9/01/53

(b) 290,210

405,913

Ginnie

Mae

II

Pool

,

6.00%,

9/20/53

418,221

779,388

Ginnie

Mae

II

Pool

,

3.00%,

12/20/53

702,757

823

Government

National

Mortgage

Association

2009-34

BH

,

4.00%,

5/20/39

820

53,146

Government

National

Mortgage

Association

2014-6

JA

,

2.75%,

6/20/42

52,304

471,462

Government

National

Mortgage

Association

2015-151

UB

,

2.00%,

3/20/45

440,492

3,035

Government

National

Mortgage

Association

2016-150

JG

,

2.50%,

10/20/45

3,010

3,854

Government

National

Mortgage

Association

2017-24

A

,

2.25%,

9/16/44

3,783

124,278

Government

National

Mortgage

Association

2018-76

EB

,

2.50%,

9/20/46

120,977

288,076

Government

National

Mortgage

Association

2020-45

ME

,

2.00%,

3/20/50

248,828

1,355,211

Government

National

Mortgage

Association

2021-154

CE

,

1.75%,

9/20/51

1,203,594

115,327

Government

National

Mortgage

Association

2021-77

LA

,

1.00%,

8/20/50

91,153

141,999

Government

National

Mortgage

Association

2021-83

KB

,

1.25%,

5/20/51

113,658

948,120

Government

National

Mortgage

Association

2022-189

PT

,

2.50%,

10/20/51

811,647

10,820

Government

National

Mortgage

Association

2022-213

GP

,

5.00%,

8/20/47

10,869

465,197

Government

National

Mortgage

Association

2022-218

EV

,

5.50%,

11/20/33

482,691

22,383

Government

National

Mortgage

Association

2022-99

GQ

,

3.50%,

1/20/52

22,185

14,401

Government

National

Mortgage

Association

2023-120

AK

,

6.00%,

11/20/44

14,529

64,071

Government

National

Mortgage

Association

2023-150

HE

,

6.00%,

3/20/42

64,468

213,199

Government

National

Mortgage

Association

2024-20

PC

,

5.50%,

2/20/54

218,280

3,455

Government

National

Mortgage

Association

2024-20

VG

,

5.50%,

8/20/35

3,519

11,175

Government

National

Mortgage

Association

2024-43

HP

,

5.00%,

7/20/53

11,292

222,547

Government

National

Mortgage

Association

2024-65

NB

,

5.50%,

2/20/48

222,542

540,000

Government

National

Mortgage

Association

2024-8

JL

,

5.00%,

1/20/54

546,940

413,000

Morgan

Stanley

Capital

I

Trust

2016-UBS12

,

3.60%,

12/17/49

409,795

925,000

PSMC

2020-3

Trust

,

3.00%,

11/25/50

(a)(b) 803,692

61,623

Seasoned

Credit

Risk

Transfer

Trust

2012-2

MA

,

2.00%,

11/25/60

54,691

352,000

UBS

Commercial

Mortgage

Trust

,

2.92%,

10/18/52

337,936

15,000

UBS

Commercial

Mortgage

Trust

2018-C8

A4

,

3.98%,

2/15/51

14,868

2,042,120

UMBS

Freddie

Mac

Pool

,

4.50%,

10/01/52

2,029,339

347,099

UMBS

Freddie

Mac

Pool

,

5.00%,

7/01/53

354,531

160,000

Wells

Fargo

Commercial

Mortgage

Trust

2016-C35

,

2.93%,

7/17/48

159,053

351,000

Wells

Fargo

Commercial

Mortgage

Trust

2017-RB1

,

3.64%,

3/15/50

345,130

36,384

Wells

Fargo

Commercial

Mortgage

Trust

2021-SAVE

,

5.05%,

2/15/40

(1MO

SOFR

+

136bps)

(a)(b) 36,324

624,000

Wells

Fargo

Commercial

Mortgage

Trust

2026-5C8

,

5.03%,

3/15/59

645,819

TOTAL

MORTGAGE-BACKED

SECURITIES

(Cost $54,956,425)

54,729,391

NON

U.S.

GOVERNMENT

&

AGENCIES

—

2.0%

SUPRANATIONAL

—

1.6%

2,060,000

Asian

Development

Bank,

4.95%,

4/12/29

2,061,988

1,098,000

International

Bank

for

Reconstruction

&

Development,

1.62%,

3/11/30

1,017,534

North

Square

McKee

Bond

Fund

Schedule

of

Investments

(continued)

February

28,

2026

(Unaudited)

P

r

i

nc

i

p

a

l

Amo

u

nt

($)

F

a

i

r

V

a

lu

e

NON

U.S.

GOVERNMENT

&

AGENCIES

—

2.0%

(Continued)

293,000

International

Bank

for

Reconstruction

&

Development,

5.17%,

4/24/29

$

294,202

3,373,724

SOVEREIGN

—

0.4%

753,000

Mexico

Government

International

Bond,

7.38%,

5/13/55

827,585

TOTAL

NON

U.S.

GOVERNMENT

&

AGENCIES

(Cost $4,174,359)

4,201,309

U.S.

GOVERNMENT

&

AGENCIES

—

36.9%

U.S.

TREASURY

BONDS

—

12.1%

2,573,000

United

States

Treasury

Bond,

2.75 %

,

11/15/42

2,042,721

2,954,000

United

States

Treasury

Bond,

4.75 %

,

11/15/43

3,041,466

3,418,000

United

States

Treasury

Bond,

2.00 %

,

8/15/51

2,045,326

2,245,000

United

States

Treasury

Bond,

4.00 %

,

11/15/52

2,017,738

4,974,000

United

States

Treasury

Note,

3.50 %

,

1/31/28

4,983,909

1,940,000

United

States

Treasury

Note/Bond,

4.88 %

,

8/15/45

2,018,509

2,021,000

United

States

Treasury

Note/Bond,

4.63 %

,

11/15/45

2,034,736

5,080,000

United

States

Treasury

Note/Bond,

3.13 %

,

5/15/48

4,003,080

2,528,000

United

States

Treasury

Note/Bond,

4.63 %

,

11/15/55

2,524,247

24,711,732

U.S.

TREASURY

NOTES

—

24.8%

2,002,000

United

States

Treasury

Inflation

Indexed

Bonds,

1.88 %

,

1/15/36

2,027,855

3,846,000

United

States

Treasury

Note,

4.13 %

,

7/31/31

3,950,939

2,243,000

United

States

Treasury

Note,

1.88 %

,

2/15/32

2,032,982

992,000

United

States

Treasury

Note,

4.25 %

,

8/15/35

1,016,800

3,946,000

United

States

Treasury

Note/Bond,

3.88 %

,

7/15/28

3,989,853

3,979,000

United

States

Treasury

Note/Bond,

3.50 %

,

11/15/28

3,990,657

5,993,000

United

States

Treasury

Note/Bond,

3.50 %

,

1/15/29

6,011,962

3,368,000

United

States

Treasury

Note/Bond,

3.63 %

,

10/31/30

3,385,103

3,483,000

United

States

Treasury

Note/Bond,

3.63 %

,

12/31/30

3,499,599

4,470,000

United

States

Treasury

Note/Bond,

3.75 %

,

1/31/31

4,516,097

2,004,000

United

States

Treasury

Note/Bond,

3.75 %

,

10/31/32

2,009,949

2,002,000

United

States

Treasury

Note/Bond,

3.88 %

,

12/31/32

2,022,020

3,398,000

United

States

Treasury

Note/Bond,

4.00 %

,

1/31/33

3,456,934

3,177,000

United

States

Treasury

Note/Bond,

4.00 %

,

11/15/35

3,188,914

1,881,000

United

States

Treasury

Note/Bond,

4.13 %

,

2/15/36

1,906,129

1,936,000

United

States

Treasury

Note/Bond,

4.38 %

,

2/15/38

1,996,576

1,765,000

United

States

Treasury

Note/Bond,

4.75 %

,

8/15/55

1,797,680

50,800,049

TOTAL

U.S.

GOVERNMENT

&

AGENCIES

(Cost $74,487,220)

75,511,781

North

Square

McKee

Bond

Fund

Schedule

of

Investments

(continued)

February

28,

2026

(Unaudited)

Sh

ar

e

s

F

a

i

r

V

a

lu

e

SHORT-TERM

INVESTMENTS

—

2.7%

5,546,310

First

American

Treasury

Obligations

Fund,

Class

X,

3.60%

(d) $

5,546,310

TOTAL

SHORT-TERM

INVESTMENTS

(Cost

$5,546,310)

5,546,310

TOTAL

INVESTMENTS

—

100.2%

(Cost

$203,405,159)

$

204,936,141

Liabilities

in

Excess

of

Other

Assets —

(0.2)%

(499,096)

NET

ASSETS

—

100.00%

$

204,437,045

(a) Security

exempt

from

registration

under

Rule

144A

or

Section

4(2)

of

the

Securities

Act

of

1933. The

security

may

be

resold

in

transactions

exempt

from

registration,

normally

to

qualified

institutional

buyers.

As

of

February

28,

2026

the

total

market

value

of

144A

securities

is

$4,748,232

or

2.3%

of

net

assets.

(b) Variable

rate

security.

Interest

rate

resets

periodically.

The

rate

shown

is

the

effective

interest

rate

as

of

February

28,

2026. For

securities

based

on

a

published

reference

rate

and

spread,

the

reference

rate

and

spread

(in

basis

points)

are

indicated

parenthetically.

Certain

variable

rate

securities

are

not

based

on

a

published

reference

rate

and

spread

but

are

determined

by

the

issuer

or

agent

and

are

based

on

current

market

conditions.

These

securities,

therefore,

do

not

indicate

a

reference

rate

and

spread.

(c) Percentage

rounds

to

less

than

0.1%.

(d) Rate

disclosed

is

the

seven

day

effective

yield

as

of

February

28,

2026. REMIC

Real

Estate

Mortgage

Investment

Conduit

North

Square

Strategic

Income

Fund

Schedule

of

Investments

February

28,

2026

(Unaudited)

Sh

ar

e

s

F

a

i

r

V

a

lu

e

COMMON

STOCKS

—

2.0%

ENERGY

—

1.0%

OIL

&

GAS

PRODUCERS

—

0.3%

17,214

Exxon

Mobil

Corp.

$

2,625,135

OIL

&

GAS

SERVICES

&

EQUIPMENT

—

0.7%

73,387

Halliburton

Co.

2,641,932

50,181

SLB

Ltd.

2,576,293

403,803

Transocean

Ltd.

(a) 2,616,643

7,834,868

TOTAL ENERGY

10,460,003

MATERIALS

—

1.0%

METALS

&

MINING

—

1.0%

10,760

Agnico

Eagle

Mines

Ltd.

2,707,216

51,746

Alamos

Gold,

Inc.,

Class

A

2,804,116

31,689

BHP

Group

Ltd.

-

ADR

2,584,871

71,819

Kinross

Gold

Corp.

2,656,585

10,752,788

TOTAL MATERIALS

10,752,788

TOTAL

COMMON

STOCKS

(Cost $20,786,228)

21,212,791

EXCHANGE-TRADED

FUNDS

—

3.4%

276,501

North

Square

RCIM

Tax-Advantaged

Preferred

&

Income

Securities

ETF

(b) 7,142,021

1,118,872

VanEck

JPMorgan

EM

Local

Currency

Bond

ETF

29,750,806

TOTAL

EXCHANGE-TRADED

FUNDS

(Cost $36,694,279)

36,892,827

P

r

i

nc

i

p

a

l

Amo

u

nt

($)

ASSET

BACKED

SECURITIES

—

10.2%

597,687

Aegis

Asset

Backed

Securities

Trust

2005-2,

4.51%,

6/25/35

(TSFR1M

+

83bps)

(c) 580,646

10,425,000

Applebee's

Funding

LLC

/

IHOP

Funding

LLC

2025-1A

A2,

6.72%,

6/07/55

(d) 10,604,727

26,130,000

Citigroup

Commercial

Mortgage

Trust

2015-101A,

1.10%,

1/14/43

(c)(d) 1,974,150

3,550,000

Citigroup

Commercial

Mortgage

Trust

2015-GC27,

3.00%,

2/01/48

(d) 3,354,035

72,000,000

Citigroup

Commercial

Mortgage

Trust

2020-555

X,

0.74%,

12/10/29

(c)(d) 1,876,342

6,189,848

COMM

2010-C1

Mortgage

Trust,

5.79%,

7/10/46

(c)(d) 6,151,175

350,000

COMM

2013-CCRE7

Mortgage

Trust,

4.29%,

3/10/46

(c)(d) 329,264

2,886,000

Credit

Suisse

Mortgage

Trust

2021-Gate

C,

6.48%,

12/15/36

(d)(e) 2,841,686

438,338

FBR

Securitization

Trust

2005-5

M2,

4.50%,

11/26/35

(TSFR1M

+

82bps)

(c) 437,428

3,288,361

GS

Mortgage

Securities

Corp.

Trust

2012-BWTR,

2.95%,

11/05/34

(d) 2,963,404

3,000,000

GS

Mortgage

Securities

Corp.

Trust

2015-GC32,

4.37%,

7/10/48

(c)(d) 2,919,721

4,970,000

HI-FI

Music

IP

Issuer

LP

2022-1A

A2,

3.94%,

2/01/62

(d) 4,932,964

3,952,373

HomeBanc

Mortgage

Trust

2005-3

M4,

4.79%,

7/25/35

(c) 3,987,605

North

Square

Strategic

Income

Fund

Schedule

of

Investments

(continued)

February

28,

2026

(Unaudited)

P

r

i

nc

i

p

a

l

Amo

u

nt

($)

F

a

i

r

V

a

lu

e

ASSET

BACKED

SECURITIES

—

10.2%

(Continued)

74,592

HSI

Asset

Securitization

Corp.

Trust

2006-OPT3,

4.33%,

2/25/36

(TSFR1M

+

65bps)

(c) $

74,185

755,576

Impac

CMB

Trust

Series

2005-4,

4.22%,

5/25/35

(TSFR1M

+

54bps)

(c) 736,754

4,003,658

JPMorgan

Chase

Commercial

Mortgage

Securities

Trust

2012-WLDN,

3.91%,

5/05/30

(d) 3,963,621

225,326

JPMorgan

Mortgage

Acquisition

Trust

2007-CH3,

4.05%,

3/25/37

(TSFR1M

+

37bps)

(c) 224,555

3,580,000

Kapitus

Asset

Securitization,

LLC

2024-1A,

5.49%,

9/10/31

(d) 3,610,086

562,346

Long

Beach

Mortgage

Loan

Trust

2005-1,

5.07%,

2/25/35

(TSFR1M

+

139bps)

(c) 559,661

4,630,817

Lyra

Music

Assets

Delaware

LP

2025-1A

A2,

5.60%,

9/20/65

(d) 4,711,184

2,756,772

Morgan

Stanley

Bank

of

America

Merrill

Lynch

Trust

2012-C5

E,

4.68%,

8/15/45

(c)(d) 2,705,875

2,072,014

Morgan

Stanley

Bank

of

America

Merrill

Lynch

Trust

2013-C7

C,

4.16%,

2/15/46

(c) 1,945,840

3,095,256

Morgan

Stanley

Bank

of

America

Merrill

Lynch

Trust

2015-C26

D,

3.06%,

10/01/48

(d) 2,974,674

399,084

Morgan

Stanley

Capital

I

Trust

2011-C2,

5.21%,

6/15/44

(c)(d) 396,269

2,500,000

Morgan

Stanley

Capital

I

Trust

2011-C2,

5.21%,

6/15/44

(c)(d) 2,432,881

2,800,000

Morgan

Stanley

Capital

I

Trust

2014-150E,

3.91%,

9/09/32

(d) 2,644,628

7,325,348

MSBAM

Commercial

Mortgage

Securities

Trust

2012-CKSV

A2,

3.28%,

10/15/30

(d) 7,138,323

3,500,000

Olympic

Tower

2017-OT

Mortgage

Trust,

3.57%,

5/01/39

(d) 3,363,889

13,590,000

Planet

Fitness

Master

Issuer

LLC

2025-1A

A2I,

5.27%,

12/06/55

(d) 13,825,322

159,583

Renaissance

Home

Equity

Loan

Trust

2005-3,

5.14%,

11/25/35

159,711

251,000,000

RIDE

2025-SHRE,

0.29%,

2/14/47

(c)(d) 2,359,977

1,303,621

Wells

Fargo

Commercial

Mortgage

Trust

2014-LC18,

4.19%,

12/15/47

(c) 1,287,790

688,194

Wells

Fargo

Commercial

Mortgage

Trust

2015-C29,

4.26%,

6/01/48

(c) 669,382

9,855,000

Zayo

Issuer

LLC

2025-3A

A2,

5.57%,

10/20/55

(d) 10,119,626

TOTAL

ASSET

BACKED

SECURITIES

(Cost $107,602,047)

108,857,380

CORPORATE

BONDS

—

28.3%

COMMUNICATIONS

—

2.7%

ENTERTAINMENT

CONTENT

—

0.5%

6,900,000

Paramount

Global,

6.25%,

2/28/57

(c) 5,401,320

TELECOMMUNICATIONS

—

2.2%

9,000,000

Bell

Canada,

7.00%,

9/15/55

(H15T5Y

+

236bps)

(c) 9,530,451

5,775,000

Rogers

Communications,

Inc.,

7.13%,

4/15/55

(H15T5Y

+

262bps)

(c) 6,119,240

5,700,000

TELUS

Corp.,

6.63%,

10/15/55

(c) 5,890,026

2,000,000

TELUS

Corp.,

7.00%,

10/15/55

(c) 2,111,290

23,651,007

TOTAL COMMUNICATIONS

29,052,327

North

Square

Strategic

Income

Fund

Schedule

of

Investments

(continued)

February

28,

2026

(Unaudited)

P

r

i

nc

i

p

a

l

Amo

u

nt

($)

F

a

i

r

V

a

lu

e

CORPORATE

BONDS

—

28.3%

(Continued)

CONSUMER

DISCRETIONARY

—

0.9%

AUTOMOTIVE

—

0.9%

9,416,000

General

Motors

Financial

Co.,

Inc.,

5.75%,

3/30/66

(c)(f) $

9,440,532

TOTAL CONSUMER

DISCRETIONARY

9,440,532

ENERGY

—

4.2%

OIL

&

GAS

PRODUCERS

—

4.2%

2,050,000

Enbridge,

Inc.,

7.20%,

6/27/54

(H15T5Y

+

297bps)

(c) 2,210,017

9,000,000

Enbridge,

Inc.,

5.75%,

7/15/80

(c) 9,166,869

9,500,000

Energy

Transfer

LP,

6.63%,

2/15/72

(US0003M

+

416bps)

(c)(f) 9,629,599

2,000,000

Phillips

Co.,

5.88%,

3/15/56

(H15T5Y

+

228bps)

(c) 2,011,310

6,000,000

Phillips

Co.,

6.20%,

3/15/56

(H15T5Y

+

217bps)

(c) 6,083,922

9,000,000

South

Bow

Canadian

Infrastructure

Holdings

Ltd.,

7.50%,

3/01/55

(c) 9,558,252

6,500,000

Transcanada

Trust,

5.50%,

9/15/79

(c) 6,585,605

45,245,574

TOTAL ENERGY

45,245,574

FINANCIALS

—

8.5%

ASSET

MANAGEMENT

—

1.1%

9,055,000

Charles

Schwab

Corp.

(The),

4.00%,

12/31/49

(H15T10Y

+

308bps)

(c)(f) 8,561,567

4,000,000

UBS

Group

AG,

4.38%,

8/10/71

(c)(f) 3,642,867

12,204,434

BANKING

—

7.4%

8,000,000

Bank

of

America

Corp.,

Series

FF,

5.88%,

3/15/49

(c)(f) 8,171,024

5,000,000

BNP

Paribas

SA,

6.88%,

12/15/99

(c)(d)(f)

5,028,390

7,500,000

Citigroup,

Inc.,

6.95%,

2/15/80

(H15T5Y

+

273bps)

(c)(f) 7,728,458

2,000,000

Citigroup,

Inc.,

6.63%,

5/15/99

(c)(f) 2,068,852

7,750,000

Citizens

Financial

Group,

Inc.,

4.00%,

10/06/71

(c)(f) 7,711,673

4,800,000

HSBC

Holdings

PLC,

7.05%,

12/31/49

(H15T5Y

+

299bps)

(c)(f) 5,002,158

6,000,000

Huntington

Bancshares,

Inc.,

6.25%,

10/15/80

(H15T5Y

+

265bps)

(c)(f) 6,048,402

8,000,000

JPMorgan

Chase

&

Co.,

3.65%,

12/31/69

(c)(f) 7,976,498

6,800,000

Nordea

Bank

Abp,

6.75%,

11/10/88

(H15T5Y

+

272bps)

(c)(d)(f)

7,027,564

5,000,000

Royal

Bank

of

Canada,

6.50%,

11/24/85

(c) 4,998,109

6,600,000

Svenska

Handelsbanken

AB,

4.75%,

3/01/71

(c)(f) 6,351,241

10,000,000

Truist

Financial

Corp.,

5.10%,

3/01/61

(H15T10Y

+

4bps)

(c)(f) 10,120,100

78,232,469

TOTAL FINANCIALS

90,436,903

HEALTH

CARE

—

0.6%

HEALTH

CARE

FACILITIES

&

SERVICES

—

0.6%

6,000,000

CVS

Health

Corp.,

6.75%,

12/10/54

(H15T5Y

+

252bps)

(c) 6,244,500

TOTAL HEALTH

CARE

6,244,500

North

Square

Strategic

Income

Fund

Schedule

of

Investments

(continued)

February

28,

2026

(Unaudited)

P

r

i

nc

i

p

a

l

Amo

u

nt

($)

F

a

i

r

V

a

lu

e

CORPORATE

BONDS

—

28.3%

(Continued)

MATERIALS

—

0.3%

CHEMICALS

—

0.3%

5,250,000

FMC

Corp.,

8.45%,

11/01/55

(c) $

3,457,495

TOTAL MATERIALS

3,457,495

UTILITIES

—

11.1%

ELECTRIC

UTILITIES

—

10.0%

5,467,000

Algonquin

Power

&

Utilities

Corp.,

4.75%,

1/18/82

(c) 5,425,313

4,782,000

American

Electric

Power

Co.,

Inc.,

6.95%,

12/15/54

(H15T5Y

+

268bps)

(c) 5,169,815

3,500,000

American

Electric

Power

Co.,

Inc.,

6.05%,

3/15/56

(H15T5Y

+

194bps)

(c) 3,513,703

9,725,000

CenterPoint

Energy,

Inc.,

3.00%,

8/01/28

(d) 10,303,151

3,000,000

CenterPoint

Energy,

Inc.,

6.85%,

2/15/55

(H15T5Y

+

295bps)

(c) 3,189,252

9,721,000

CMS

Energy

Corp.,

4.75%,

6/01/50

(H15T5Y

+

412bps)

(c) 9,659,534

11,000,000

Dominion

Energy,

Inc.,

6.20%,

2/15/56

(H15T10Y

+

201bps)

(c) 11,203,027

4,500,000

Duke

Energy

Corp.,

6.45%,

9/01/54

(H15T5Y

+

259bps)

(c) 4,743,315

5,436,000

Emera,

Inc.,

6.75%,

6/15/76

(c) 5,485,886

9,700,000

Exelon

Corp.,

6.50%,

3/15/55

(H15T5Y

+

198bps)

(c) 10,156,013

6,000,000

NextEra

Energy

Capital

Holdings,

Inc.,

6.38%,

8/15/55

(c) 6,235,896

7,500,000

NextEra

Energy

Capital

Holdings,

Inc.,

6.50%,

8/15/55

(H15T5Y

+

198bps)

(c) 7,954,583

7,000,000

NiSource,

Inc.,

6.38%,

3/31/55

(H15T5Y

+

253bps)

(c) 7,313,635

4,000,000

NRG

Energy,

Inc.,

10.25%,

12/31/49

(H15T5Y

+

592bps)

(c)(d)(f)

4,406,084

6,400,000

Southern

Co.

(The),

6.38%,

3/15/55

(c) 6,698,138

5,040,000

Vistra

Corp.,

8.88%,

12/31/49

(H15T5Y

+

505bps)

(c)(d)(f)

5,571,468

107,028,813

GAS

&

WATER

UTILITIES

—

1.1%

8,550,000

AltaGas

Ltd.,

7.20%,

10/15/54

(H15T5Y

+

357bps)

(c)(d) 8,937,118

3,000,000

NiSource,

Inc.,

5.75%,

7/15/56

(c) 3,019,197

11,956,315

TOTAL UTILITIES

118,985,128

TOTAL

CORPORATE

BONDS

(Cost $299,573,443)

302,862,459

MORTGAGE-BACKED

SECURITIES

—

31.7%

3,500,000

BXHPP

Trust

2021-FILM

,

4.44%,

8/15/36

(1MO

SOFR

+

76bps)

(c)(d) 3,338,125

4,789,814

Fannie

Mae

Pool

,

3.50%,

10/01/51

4,526,575

8,378,290

Fannie

Mae

Pool

,

2.50%,

12/01/51

7,303,822

3,217,307

Fannie

Mae

Pool

,

3.00%,

12/01/51

2,916,623

5,374,427

Fannie

Mae

Pool

,

3.50%,

4/01/52

5,105,253

2,305,806

Fannie

Mae

Pool

,

2.50%,

5/01/52

2,025,839

12,593,255

Fannie

Mae

Pool

,

4.00%,

5/01/52

12,260,163

8,503,653

Fannie

Mae

Pool

,

2.50%,

6/01/52

7,428,496

1,789,225

Fannie

Mae

Pool

,

3.00%,

7/01/52

1,622,308

2,043,053

Fannie

Mae

Pool

,

5.00%,

7/01/52

2,064,066

4,094,871

Fannie

Mae

Pool

,

4.50%,

11/01/52

4,068,823

5,001,889

Fannie

Mae

Pool

,

4.00%,

3/01/53

4,884,320

5,674,330

Fannie

Mae

Pool

,

4.50%,

6/01/53

5,638,818

North

Square

Strategic

Income

Fund

Schedule

of

Investments

(continued)

February

28,

2026

(Unaudited)

P

r

i

nc

i

p

a

l

Amo

u

nt

($)

F

a

i

r

V

a

lu

e

MORTGAGE-BACKED

SECURITIES

—

31.7%

(Continued)

2,552,069

Fannie

Mae

Pool

,

5.00%,

6/01/53

$

2,585,392

781,468

Fannie

Mae

Pool

,

6.00%,

10/01/53

807,742

2,826,655

Fannie

Mae

Pool

,

6.00%,

10/01/53

2,905,256

10,706,980

Fannie

Mae

Pool

,

4.00%,

11/01/53

10,454,300

6,766,879

Fannie

Mae

Pool

,

6.00%,

1/01/54

6,956,129

10,945,312

Fannie

Mae

Pool

,

5.50%,

5/01/54

11,188,689

4,386,363

Fannie

Mae

Pool

,

4.50%,

8/01/54

4,385,841

865,592

Fannie

Mae

Pool

,

6.00%,

11/01/54

897,025

12,872,464

Fannie

Mae

Pool

,

4.00%,

1/01/55

12,523,970

4,591,586

Fannie

Mae

Pool

,

5.00%,

6/01/55

4,645,333

6,621,999

Fannie

Mae

Pool

,

5.00%,

6/01/55

6,665,640

2,636,272

Fannie

Mae-Aces

2019-M24

XA

,

1.24%,

3/26/29

(c) 76,298

3,506,939

Fannie

Mae-Aces

2020-M10

X6

,

1.38%,

8/25/28

(c) 94,853

828,314

Fannie

Mae-Aces

2020-M39

1A1

,

0.75%,

9/25/28

795,518

39,722,498

Fannie

Mae-Aces

2025-M4

X

,

0.53%,

8/01/35

(c) 1,712,131

15,695,757

FHLMC

Multifamily

Structured

Pass-Through

Certificates

2021-RR19

X

,

2.02%,

4/27/29

(c) 650,129

30,000,000

FHLMC

Multifamily

Structured

Pass-Through

Certificates

K064

XAM

,

0.48%,

3/25/27

(c) 163,146

30,893,000

FHLMC

Multifamily

Structured

Pass-Through

Certificates

K067

XAM

,

0.47%,

8/25/27

(c) 210,100

7,570,000

FHLMC

Multifamily

Structured

Pass-Through

Certificates

K109

XAM

,

1.80%,

4/25/30

(c) 499,307

7,249,000

FHLMC

Multifamily

Structured

Pass-Through

Certificates

K110

XAM

,

1.84%,

4/25/30

(c) 497,690

1,835,000

FHLMC

Multifamily

Structured

Pass-Through

Certificates

K111

X3

,

3.18%,

4/25/48

(c) 220,313

3,332,000

FHLMC

Multifamily

Structured

Pass-Through

Certificates

K116

XAM

,

1.60%,

8/25/30

(c) 211,031

2,750,000

FHLMC

Multifamily

Structured

Pass-Through

Certificates

K122

X3

,

2.63%,

1/25/49

(c) 288,333

1,715,000

FHLMC

Multifamily

Structured

Pass-Through

Certificates

K124

X3

,

2.62%,

2/25/49

(c) 184,943

36,689,681

FHLMC

Multifamily

Structured

Pass-Through

Certificates

K738

X1

,

1.48%,

1/25/27

(c) 331,737

339,145

FHLMC

Multifamily

Structured

Pass-Through

Certificates

KJ37

A1

,

1.68%,

12/25/27

328,806

21,180,651

FHLMC

Multifamily

Structured

Pass-Through

Certificates

Q002

XA

,

0.92%,

7/25/33

(c) 670,706

14,829,220

Freddie

Mac

30-Year

Pool

,

3.50%,

9/01/52

13,999,166

123,159,827

Freddie

Mac

Multifamily

Structured

Pass-Through

Certificates

K057

X1

,

1.17%,

7/25/26

(c) 276,457

308,013,166

Freddie

Mac

Multifamily

Structured

Pass-Through

Certificates

K072

X1

,

0.36%,

12/25/27

(c) 1,863,295

3,455,000

Freddie

Mac

Multifamily

Structured

Pass-Through

Certificates

K119

X3

,

2.73%,

10/25/30

(c) 377,028

North

Square

Strategic

Income

Fund

Schedule

of

Investments

(continued)

February

28,

2026

(Unaudited)

P

r

i

nc

i

p

a

l

Amo

u

nt

($)

F

a

i

r

V

a

lu

e

MORTGAGE-BACKED

SECURITIES

—

31.7%

(Continued)

120,182,776

Freddie

Mac

Multifamily

Structured

Pass-Through

Certificates

K507

X1

,

0.09%,

9/25/28

(c) $

420,652

49,208,000

Freddie

Mac

Multifamily

Structured

Pass-Through

Certificates

K755

XAM

,

0.36%,

2/25/31

(c) 978,225

15,350,000

Freddie

Mac

Multifamily

Structured

Pass-Through

Certificates

KG04

X3

,

2.63%,

11/25/30

(c) 1,591,720

63,586,759

Freddie

Mac

Multifamily

Structured

Pass-Through

Certificates

KG06

X1

,

0.53%,

10/25/31

(c) 1,561,004

12,044,000

Freddie

Mac

Multifamily

Structured

Pass-Through

Certificates

KS16

X

,

1.18%,

1/25/32

(c) 602,723

3,913,586

Freddie

Mac

Pool

,

4.00%,

5/01/52

3,821,532

7,153,286

Freddie

Mac

Pool

,

3.50%,

6/01/52

6,788,632

12,636,775

Freddie

Mac

Pool

,

3.50%,

7/01/52

11,936,505

10,064,243

Freddie

Mac

Pool

,

3.50%,

9/01/52

9,575,800

7,481,020

Freddie

Mac

Pool

,

4.00%,

9/01/52

7,306,520

1,679,050

Freddie

Mac

Pool

,

4.50%,

2/01/53

1,666,030

2,617,691

Freddie

Mac

Pool

,

5.00%,

6/01/53

2,649,963

2,347,537

Freddie

Mac

Pool

,

5.50%,

6/01/53

2,421,265

1,508,774

Freddie

Mac

Pool

,

5.50%,

6/01/53

1,547,600

2,517,985

Freddie

Mac

Pool

,

6.00%,

11/01/53

2,623,360

1,732,672

Freddie

Mac

Pool

,

6.00%,

12/01/53

1,797,154

3,729,204

Freddie

Mac

Pool

,

6.50%,

12/01/53

3,915,539

6,356,300

Freddie

Mac

Pool

,

5.50%,

9/01/54

6,516,288

7,008,827

Freddie

Mac

Pool

,

5.00%,

11/01/54

7,089,765

8,491,728

Freddie

Mac

Pool

,

5.00%,

11/01/54

8,584,755

3,675,829

Freddie

Mac

Pool

,

5.00%,

12/01/54

3,733,811

1,591,459

Freddie

Mac

Pool

,

6.00%,

12/01/54

1,636,891

4,374,255

Freddie

Mac

Pool

,

6.00%,

7/01/55

4,489,748

9,675,319

Freddie

Mac

Pool

,

4.50%,

9/01/55

9,623,273

253,216,822

Freddie

Mac

Structured

Pass-Through

Certificates

2016-K59

X2A

,

0.10%,

11/25/49

(d) 63,507

7,690,000

Freddie

Mac

Structured

Pass-Through

Certificates

2020-RR02

AX

,

1.83%,

10/27/28

(c) 265,254

125,870,000

Freddie

Mac

Structured

Pass-Through

Certificates

KG08

X1

,

0.00%,

5/25/33

(c) 574,471

7,007,350

Ginnie

Mae

II

Pool

,

2.50%,

12/01/51

6,192,040

1,941,889

Ginnie

Mae

II

Pool

,

2.00%,

7/20/52

1,649,131

1,599,584

Ginnie

Mae

II

Pool

,

3.00%,

8/20/52

1,471,973

2,136,496

Ginnie

Mae

II

Pool

,

3.00%,

9/20/52

1,968,687

5,127,653

Ginnie

Mae

II

Pool

,

2.50%,

2/20/53

4,542,193

4,434,413

Ginnie

Mae

II

Pool

,

3.50%,

2/20/53

4,213,884

2,930,046

Ginnie

Mae

II

Pool

,

2.50%,

3/20/53

2,599,126

1,874,822

Ginnie

Mae

II

Pool

,

2.50%,

4/20/53

1,660,084

4,321,641

Ginnie

Mae

II

Pool

,

3.00%,

3/20/54

3,986,311

1,202,985

Government

National

Mortgage

Association

2017-76

,

0.74%,

12/16/56

(c) 55,026

35,989,876

Government

National

Mortgage

Association

2018-170

,

1.09%,

11/16/60

(c) 3,169,747

North

Square

Strategic

Income

Fund

Schedule

of

Investments

(continued)

February

28,

2026

(Unaudited)

P

r

i

nc

i

p

a

l

Amo

u

nt

($)

F

a

i

r

V

a

lu

e

MORTGAGE-BACKED

SECURITIES

—

31.7%

(Continued)

52,923,428

Government

National

Mortgage

Association

2020-121

,

0.88%,

8/16/60

(c) $

3,326,211

19,310,138

Government

National

Mortgage

Association

2020-155

,

1.27%,

9/16/60

(c) 1,714,958

47,742,298

Government

National

Mortgage

Association

2020-179

,

1.01%,

9/16/62

(c) 3,403,229

40,101,233

Government

National

Mortgage

Association

2020-41

,

1.00%,

1/16/62

(c) 2,922,738

53,919,778

Government

National

Mortgage

Association

2021-10

,

0.99%,

5/16/63

(c) 4,177,645

42,542,144

Government

National

Mortgage

Association

2021-150

,

1.04%,

11/16/63

(c) 3,408,391

49,793,053

Government

National

Mortgage

Association

2021-157

,

0.88%,

9/16/63

(c) 3,095,365

33,589,701

Government

National

Mortgage

Association

2021-17

,

1.05%,

1/01/61

(c) 2,674,708

42,287,662

Government

National

Mortgage

Association

2021-170

,

0.99%,

5/16/63

(c) 3,120,660

70,450,426

Government

National

Mortgage

Association

2021-198

,

0.81%,

11/16/61

(c) 4,060,361

10,681,076

Government

National

Mortgage

Association

2021-22

,

0.97%,

5/16/63

(c) 745,538

36,810,579

Government

National

Mortgage

Association

2021-51

,

1.02%,

10/16/62

(c) 2,661,928

30,278,622

Government

National

Mortgage

Association

2022-2

,

0.82%,

4/16/62

(c) 1,649,661

14,051,573

Government

National

Mortgage

Association

2024-178

,

0.68%,

7/16/66

(c) 872,329

48,545,748

Government

National

Mortgage

Association

2025-109

,

0.60%,

5/16/67

(c) 2,901,288

43,625,727

Government

National

Mortgage

Association

2025-31

,

0.58%,

8/16/67

(c) 2,779,801

52,939,339

Government

National

Mortgage

Association

2025-53

,

0.54%,

10/16/66

(c) 2,762,751

28,362,634

Government

National

Mortgage

Association

2025-74

,

0.71%,

2/16/67

(c) 1,568,808

1,959,630

UMBS

Fannie

Mae

Pool

,

5.00%,

3/01/53

1,988,547

3,464,471

UMBS

Fannie

Mae

Pool

,

4.50%,

7/01/53

3,450,340

TOTAL

MORTGAGE-BACKED

SECURITIES

(Cost $331,223,146)

339,224,981

NON

U.S.

GOVERNMENT

&

AGENCIES

—

2.8%

NON

U.S.

TREASURY

—

1.9%

363,000,000

Mexican

Bonos,

7.75%,

5/29/31

20,817,034

SOVEREIGN

—

0.9%

140,000,000

Republic

of

South

Africa

Government

Bond,

8.88%,

2/28/35

9,311,914

TOTAL

NON

U.S.

GOVERNMENT

&

AGENCIES

(Cost $29,076,945)

30,128,948

U.S.

GOVERNMENT

&

AGENCIES

—

15.9%

U.S.

TREASURY

INFLATION

PROTECTED

—

2.9%

30,100,000

United

States

Treasury

Inflation

Indexed

Bonds,

1.88 %

,

7/15/35

31,024,423

U.S.

TREASURY

BONDS

—

1.1%

12,190,000

United

States

Treasury

Note/Bond,

4.63 %

,

11/15/55

12,171,905

U.S.

TREASURY

NOTES

—

11.9%

50,360,000

United

States

Treasury

Note/Bond,

3.50 %

,

1/15/29

50,519,342

16,485,000

United

States

Treasury

Note/Bond,

3.75 %

,

1/31/31

16,655,002

59,640,000

United

States

Treasury

Note/Bond,

4.00 %

,

11/15/35

59,863,650

127,037,994

TOTAL

U.S.

GOVERNMENT

&

AGENCIES

(Cost $167,469,630)

170,234,322

North

Square

Strategic

Income

Fund

Schedule

of

Investments

(continued)

February

28,

2026

(Unaudited)

C

ont

ra

ct

s

Description

Expiration

Date

Exercise

Price

Notional

Value

F

a

i

r

V

a

lu

e

PURCHASED

CALL

OPTIONS

—

0.20%

1,825

E-mini

S&P

500®

6/22/2026

$

7,500.00

$

1,266,823,750

$

2,646,250

TOTAL

PURCHASED

CALL

OPTIONS

(Cost $4,920,688)

2,646,250

TOTAL

INVESTMENTS

—

94.5%

(Cost

$997,346,406)

$

1,012,059,958

Other

Assets

in

Excess

of

Liabilities

—

5.5%

59,186,621

NET

ASSETS

—

100.00%

$

1,071,246,579

(a) Non-income

producing

security.

(b) Affiliated

Company.

(c) Variable

rate

security.

Interest

rate

resets

periodically.

The

rate

shown

is

the

effective

interest

rate

as

of

February

28,

2026. For

securities

based

on

a

published

reference

rate

and

spread,

the

reference

rate

and

spread

(in

basis

points)

are

indicated

parenthetically.

Certain

variable

rate

securities

are

not

based

on

a

published

reference

rate

and

spread

but

are

determined

by

the

issuer

or

agent

and

are

based

on

current

market

conditions.

These

securities,

therefore,

do

not

indicate

a

reference

rate

and

spread.

(d) Security

exempt

from

registration

under

Rule

144A

or

Section

4(2)

of

the

Securities

Act

of

1933. The

security

may

be

resold

in

transactions

exempt

from

registration,

normally

to

qualified

institutional

buyers.

As

of

February

28,

2026

the

total

market

value

of

144A

securities

is

$142,869,230

or

13.3%

of

net

assets.

(e) Security

is

a

fix-to-float

security,

which

carries

a

fixed

coupon

until

a

certain

date,

upon

which

it

switches

to

a

floating

rate.

Rate

shown

is

the

fixed

rate.

(f) Security

is

perpetual

in

nature

and

has

no

stated

maturity

date.

ADR

-

American

Depositary

Receipt.

ETF

-

Exchange-Traded

Funds

North

Square

Strategic

Income

Fund

Schedule

of

Futures

Contracts

February

28,

2026

(Unaudited)

Contracts

Long

Contracts

Expiration

Date

Notional

Amount

Value

and

Unrealized

Appreciation

(Depreciation)

829

2-Year

US

Treasury

Note

Future

07/01/2026

$

173,487,681

$

119,401

Brazilian

Real

Future

04/01/2026

8,694,000

42,300

Ultra

US

Treasury

Bond

Future

06/22/2026

24,683,531

76,156

$

237,857

Short

Contracts

(150) Bloomberg

IG

Duration

Hedged

Credit

Future

03/18/2026

$

(16,473,750)

$

63,428

(289) E-mini

S&P

500®

Index

Future

03/23/2026

(99,546,050)

1,173,328

(231) Ultra

10-Year

US

Treasury

Note

Future

06/22/2026

(26,965,641)

(169,641)

$

1,067,115

North

Square

Strategic

Income

Fund

Schedule

of

Credit

Default

Swap

Contracts

February

28,

2026

(Unaudited)

\*

Buy

Protection

CENTRALLY

CLEARED

CREDIT

DEFAULT

SWAP

AGREEMENTS

Description

Fixed

Deal

(Pay)Rate

Maturity

Date

Notional

Value

Fair

Value

Amortized

Upfront

Payments

Paid/

(Received)

Unrealized

Appreciation

(Depreciation)

CDX.NA.IG

SERIES

45\*

1.00%

12/20/2030

$

575,000,000

(11,264,989)

(12,411,548)

$

1,146,559

$

1,146,559

North

Square

Small

Cap

Value

Fund

Schedule

of

Investments

February

28,

2026

(Unaudited)

Sh

ar

e

s

F

a

i

r

V

a

lu

e

COMMON

STOCKS

—

95.7%

CONSUMER

DISCRETIONARY

—

7.4%

AUTOMOTIVE

—

2.1%

211,210

Goodyear

Tire

&

Rubber

Co.

(The)

(a) $

1,742,483

19,353

Lear

Corp.

2,540,081

4,282,564

CONSUMER

SERVICES

—

1.1%

103,955

Upbound

Group,

Inc.

2,229,835

HOME

CONSTRUCTION

—

2.1%

66,996

Interface,

Inc.

2,109,704

31,918

Taylor

Morrison

Home

Corp.

(a) 2,103,077

4,212,781

RETAIL

-

DISCRETIONARY

—

2.1%

40,899

Advance

Auto

Parts,

Inc.

2,174,600

125,930

Sally

Beauty

Holdings,

Inc.

(a) 2,023,695

4,198,295

TOTAL CONSUMER

DISCRETIONARY

14,923,475

ENERGY

—

12.2%

OIL

&

GAS

PRODUCERS

—

8.2%

9,786

Chord

Energy

Corp.

1,060,509

15,298

Gulfport

Energy

Corp.

(a) 3,192,081

114,583

Murphy

Oil

Corp.

3,798,426

120,638

SM

Energy

Co.

2,790,357

84,470

Talos

Energy,

Inc.

(a) 1,034,758

460,282

Whitecap

Resources,

Inc.

4,593,614

16,469,745

OIL

&

GAS

SERVICES

&

EQUIPMENT

—

2.2%

295,521

DNOW,

Inc.

(a) 3,481,237

37,409

Innovex

International,

Inc.

(a) 985,727

4,466,964

RENEWABLE

ENERGY

—

1.8%

21,694

EnerSys

3,604,458

TOTAL ENERGY

24,541,167

FINANCIALS

—

17.6%

BANKING

—

11.2%

47,406

Ameris

Bancorp

3,681,550

80,797

Cathay

General

Bancorp

4,016,419

73,728

Hancock

Whitney

Corp.

4,852,040

53,603

International

Bancshares

Corp.

3,597,297

100,027

OFG

Bancorp

4,009,082

25,979

Pathward

Financial

Group,

Inc.

2,358,633

22,515,021

North

Square

Small

Cap

Value

Fund

Schedule

of

Investments

(continued)

February

28,

2026

(Unaudited)

Sh

ar

e

s

F

a

i

r

V

a

lu

e

COMMON

STOCKS

—

95.7%

(Continued)

FINANCIALS

—

17.6%

(Continued)

INSTITUTIONAL

FINANCIAL

SERVICES

—

1.8%

28,893

StoneX

Group,

Inc.

(a) $

3,683,858

INSURANCE

—

3.5%

169,239

Fidelis

Insurance

Holdings

Ltd.

3,225,695

22,068

Jackson

Financial,

Inc.

2,416,005

41,442

Kemper

Corp.

1,339,406

6,981,106

SPECIALTY

FINANCE

—

1.1%

16,643

Enova

International,

Inc.

(a) 2,314,209

TOTAL FINANCIALS

35,494,194

HEALTH

CARE

—

6.8%

BIOTECH

&

PHARMA

—

1.3%

10,908

ANI

Pharmaceuticals,

Inc.

(a) 806,101

280,259

SIGA

Technologies,

Inc.

(a) 1,813,276

2,619,377

HEALTH

CARE

FACILITIES

&

SERVICES

—

4.0%

348,370

AdaptHealth

Corp.

(a) 3,187,585

147,374

Pediatrax

Medical

Group,

Inc.

(a) 2,925,374

128,825

Select

Medical

Holdings

Corp.

1,928,510

8,041,469

MEDICAL

EQUIPMENT

&

DEVICES

—

1.5%

44,128

Livanova

PLC

(a) 3,115,437

TOTAL HEALTH

CARE

13,776,283

INDUSTRIALS

—

20.5%

COMMERCIAL

SUPPORT

SERVICES

—

2.4%

38,707

ABM

Industries,

Inc.

1,722,462

141,124

Healthcare

Services

Group,

Inc.

(a) 3,072,269

4,794,731

ELECTRICAL

EQUIPMENT

—

3.3%

14,738

Atkore,

Inc.

(a) 953,696

27,700

Belden,

Inc.

3,969,410

37,556

Ralliant

Corp.

(a) 1,723,445

6,646,551

ENGINEERING

&

CONSTRUCTION

—

1.0%

13,577

Primoris

Services

Corp.

2,046,325

INDUSTRIAL

INTERMEDIATE

PRODUCTS

—

2.7%

22,840

Timken

Co.

(The)

2,475,399

6,242

Valmont

Industries,

Inc.

2,870,883

5,346,282

North

Square

Small

Cap

Value

Fund

Schedule

of

Investments

(continued)

February

28,

2026

(Unaudited)

Sh

ar

e

s

F

a

i

r

V

a

lu

e

COMMON

STOCKS

—

95.7%

(Continued)

INDUSTRIALS

—

20.5%

(Continued)

INDUSTRIAL

SUPPORT

SERVICES

—

0.5%

27,510

Resideo

Technologies,

Inc.

(a) $

1,064,637

MACHINERY

—

5.2%

10,064

Alamo

Group,

Inc.

2,148,966

80,268

Gates

Industrial

Corp.

PLC

(a) 2,212,989

88,695

Terex

Corp.

6,101,329

10,463,284

TRANSPORTATION

&

LOGISTICS

—

5.4%

107,107

Ardmore

Shipping

Corp.

1,754,413

21,023

Copa

Holdings

SA,

Class

A

2,913,998

76,433

Global

Ship

Lease,

Inc.,

Class

A

3,139,868

39,220

Teekay

Tankers

Ltd.,

Class

A

3,069,749

10,878,028

TOTAL INDUSTRIALS

41,239,838

MATERIALS

—

10.1%

CHEMICALS

—

2.3%

41,912

Minerals

Technologies,

Inc.

2,959,825

291,036

Orion

Engineered

Carbons

SA

1,655,995

4,615,820

CONSTRUCTION

MATERIALS

—

0.5%

22,531

Apogee

Enterprises,

Inc.

897,184

METALS

&

MINING

—

5.5%

84,932

Century

Aluminum

Co.

(a) 4,379,094

36,769

Gold.com,

Inc.

2,113,114

168,413

New

Gold,

Inc.

(a) 2,260,103

33,031

Pan

American

Silver

Corp.

2,269,230

11,021,541

STEEL

—

1.8%

89,325

Worthington

Steel,

Inc.

3,712,347

TOTAL MATERIALS

20,246,892

REAL

ESTATE

—

4.4%

REAL

ESTATE

SERVICES

—

0.8%

113,621

Newmark

Group,

Inc.,

Class

A

1,649,777

REIT

—

3.6%

242,549

Apple

Hospitality

REIT,

Inc.

2,973,651

76,400

Cousins

Properties,

Inc.

1,769,424

16,379

Innovative

Industrial

Properties,

Inc.

867,432

59,119

NexPoint

Residential

Trust,

Inc.

1,666,564

7,277,071

TOTAL REAL

ESTATE

8,926,848

North

Square

Small

Cap

Value

Fund

Schedule

of

Investments

(continued)

February

28,

2026

(Unaudited)

Sh

ar

e

s

F

a

i

r

V

a

lu

e

COMMON

STOCKS

—

95.7%

(Continued)

TECHNOLOGY

—

10.9%

SEMICONDUCTORS

—

0.9%

89,529

Penguin

Solutions,

Inc.

(a) $

1,860,413

SOFTWARE

—

2.1%

35,108

Clear

Secure,

Inc.,

Class

A

1,707,653

19,156

Pegasystems,

Inc.

837,692

50,478

Teradata

Corp.

(a) 1,589,552

4,134,897

TECHNOLOGY

HARDWARE

—

6.5%

57,330

Avnet,

Inc.

3,774,607

133,094

Daktronics,

Inc.

(a) 3,431,163

103,239

Knowles

Corp.

(a) 2,805,004

108,115

NetScout

Systems,

Inc.

(a) 3,158,039

13,168,813

TECHNOLOGY

SERVICES

—

1.4%

23,285

Science

Applications

International

Corp.

2,148,274

68,883

TaskUs,

Inc.,

Class

A

(a) 731,538

2,879,812

TOTAL TECHNOLOGY

22,043,935

UTILITIES

—

5.8%

ELECTRIC

UTILITIES

—

2.4%

50,269

Avista

Corp.

2,041,927

180,193

Hawaiian

Electric

Industries,

Inc.

(a) 2,791,189

4,833,116

GAS

&

WATER

UTILITIES

—

3.4%

23,462

National

Fuel

Gas

Co.

2,135,746

39,505

Northwest

Natural

Holding

Co.

2,095,345

67,096

UGI

Corp.

2,510,062

6,741,153

TOTAL UTILITIES

11,574,269

TOTAL

COMMON

STOCKS

(Cost $164,264,226)

192,766,901

SHORT-TERM

INVESTMENTS

—

4.2%

8,448,043

First

American

Government

Obligations

Fund,

Class

X,

3.60%

(b) 8,448,043

TOTAL

SHORT-TERM

INVESTMENTS

(Cost

$8,448,043)

8,448,043

TOTAL

INVESTMENTS

—

99.9%

(Cost

$172,712,269)

$

201,214,944

Other

Assets

in

Excess

of

Liabilities

—

0.1%

158,658

NET

ASSETS

—

100.00%

$

201,373,602

(a) Non-income

producing

security.

(b) Rate

disclosed

is

the

seven

day

effective

yield

as

of

February

28,

2026. North

Square

RCIM

Tax-Advantaged

Preferred

and

Income

Securities

ETF

Schedule

of

Investments

February

28,

2026

(Unaudited)

Sh

ar

e

s

F

a

i

r

V

a

lu

e

PREFERRED

STOCKS

—

13.6%

COMMUNICATIONS

—

1.6%

TELECOMMUNICATIONS

—

1.6%

57,000

AT&T,

Inc.,

5.00%

(a) $

1,190,160

TOTAL

COMMUNICATIONS

(Cost $1,168,668)

1,190,160

FINANCIALS

—

12.0%

ASSET

MANAGEMENT

—

1.0%

28,300

Charles

Schwab

Corp.

(The),

Series

D,

5.95%

(a) 712,311

BANKING

—

7.3%

42,000

Citizens

Financial

Group,

Inc.,

6.50%

(a) 1,071,420

38,000

Fifth

Third

Bancorp,

6.88%

(a) 978,500

24,200

Huntington

Bancshares,

Inc.,

Series

J,

6.88%

(a) 621,940

36,300

KeyCorp,

Series

H,

6.20%

(a) 929,280

33,500

M&T

Bank

Corp.,

Series

J,

7.50%

(a) 899,475

16,000

Regions

Financial

Corp.,

6.95%

(a) 414,400

15,450

UMB

Financial

Corp.,

7.75%

(a) 414,060

7,481

Webster

Financial

Corp.,

5.25%

(a) 155,605

5,484,680

INSTITUTIONAL

FINANCIAL

SERVICES

—

1.4%

39,500

Morgan

Stanley,

6.50%

(a) 1,019,495

INSURANCE

—

0.9%

25,969

Allstate

Corp.

(The),

6.50%

(a) 693,372

SPECIALTY

FINANCE

—

1.4%

21,250

Capital

One

Financial

Corp.,

5.00%

(a) 417,350

21,647

Synchrony

Financial,

Series

B,

8.25%

(a) 565,420

982,770

TOTAL

FINANCIALS

(Cost $8,825,579)

8,892,628

TOTAL

PREFERRED

STOCKS

(Cost $9,994,247)

10,082,788

P

r

i

nc

i

p

a

l

Amo

u

nt

($)

CORPORATE

BONDS

—

81.1%

CONSUMER

DISCRETIONARY

—

2.6%

AUTOMOTIVE

—

2.6%

1,900,000

General

Motors

Financial

Co.,

Inc.,

6.50%,

3/30/73

(SOFR

+

344bps)

(a)(b) 1,932,076

TOTAL CONSUMER

DISCRETIONARY

1,932,076

ENERGY

—

5.7%

OIL

&

GAS

PRODUCERS

—

5.7%

1,975,000

BP

Capital

Markets

PLC,

6.45%,

3/01/74

(H15T5Y

+

240bps)

(a)(b) 2,106,082

North

Square

RCIM

Tax-Advantaged

Preferred

and

Income

Securities

ETF

Schedule

of

Investments

(continued)

February

28,

2026

(Unaudited)

P

r

i

nc

i

p

a

l

Amo

u

nt

($)

F

a

i

r

V

a

lu

e

CORPORATE

BONDS

—

81.1%

(Continued)

ENERGY

—

5.7%

(continued)

OIL

&

GAS

PRODUCERS

—

5.7%

(continued)

2,075,000

Transcanada

Trust,

5.30%,

3/15/77

(US0003M

+

321bps)

(b) $

2,090,687

4,196,769

TOTAL ENERGY

4,196,769

FINANCIALS

—

66.7%

ASSET

MANAGEMENT

—

4.1%

1,375,000

Charles

Schwab

Corp.

(The),

5.00%,

3/04/72

(H15T5Y

+

326bps)

(a)(b) 1,376,320

1,525,000

UBS

Group

A.G.,

9.25%,

5/13/72

(H15T5Y

+

475bps)

(a)(b)(c)

1,667,618

3,043,938

BANKING

—

48.7%

1,300,000

Banco

Bilbao

Vizcaya

Argentaria

S.A.,

9.38%,

9/19/73

(H15T5Y

+

510bps)

(a) (b) 1,451,130

1,200,000

Banco

Santander

SA,

9.63%,

2/21/73

(H15T5Y

+

531bps)

(a)(b) 1,337,603

850,000

Bank

of

America

Corp.,

6.30%,

12/29/49

(CMETRMSOFR

+

455bps)

(a)(b) 852,999

1,450,000

Bank

of

America

Corp.,

6.63%,

8/01/73

(H15T5Y

+

3bps)

(a)(b) 1,519,001

1,950,000

Bank

of

Montreal,

7.70%,

5/26/84

(H15T5Y

+

345bps)

(b) 2,071,317

1,700,000

Bank

of

Nova

Scotia

(The),

Series

4,

8.63%,

10/27/82

(H15T5Y

+

439bps)

(b) 1,797,682

2,050,000

Canadian

Imperial

Bank

of

Commerce,

7.00%,

10/28/85

(H15T5Y

+

300bps)

(b) 2,133,103

2,075,000

Citigroup,

Inc.,

7.63%,

2/15/72

(H15T5Y

+

321bps)

(a)(b) 2,200,515

200,000

First

Citizens

BancShares

,

Inc.,

7.96%,

6/15/70

(TSFR3M

+

423bps)

(a)(b)(c)

204,493

1,400,000

HSBC

Holdings

PLC,

7.05%,

12/05/73

(H15T5Y

+

299bps)

(a)(b) 1,467,614

1,500,000

ING

Groep

N.V.,

5.75%,

11/16/73

(H15T5Y

+

434bps)

(a)(b) 1,506,537

2,100,000

JPMorgan

Chase

&

Co.,

6.88%,

3/01/74

(H15T5Y

+

274bps)

(a)(b) 2,235,763

1,250,000

Lloyds

Banking

Group

PLC,

8.00%,

3/27/70

(H15T5Y

+

391bps)

(a)(b) 1,358,826

1,050,000

NatWest

Group

PLC,

8.13%,

6/30/72

(H15T5Y

+

375bps)

(a)(b) 1,184,660

600,000

Nordea

Bank

Abp

,

6.63%,

9/26/74

(H15T5Y

+

411bps)

(a)(b)(c)

601,403

2,075,000

PNC

Financial

Services

Group,

Inc.

(The),

6.25%,

6/15/73

(H15T7Y

+

281bps)

(a)(b) 2,152,902

2,000,000

Royal

Bank

of

Canada,

7.50%,

5/02/84

(H15T5Y

+

289bps)

(b) 2,121,686

1,250,000

Standard

Chartered

PLC,

7.75%,

2/15/73

(H15T5Y

+

498bps)

(a)(b)(c)

1,301,163

2,050,000

Toronto-Dominion

Bank

(The),

8.13%,

10/31/82

(H15T5Y

+

408bps)

(b) 2,146,639

1,750,000

Truist

Financial

Corp.,

5.10%,

3/01/69

(H15T10Y

+

4bps)

(a)(b) 1,771,032

300,000

Truist

Financial

Corp.,

Series

N,

6.67%,

3/01/73

(H15T5Y

+

300bps)

(a)(b) 302,256

2,110,000

US

Bancorp,

5.30%,

12/29/49

(SOFR

+

291bps)

(a)(b) 2,118,790

2,065,000

Wells

Fargo

&

Co.,

7.63%,

9/15/73

(H15T5Y

+

361bps)

(a)(b) 2,205,181

36,042,295

INSTITUTIONAL

FINANCIAL

SERVICES

—

9.1%

1,975,000

Bank

of

New

York

Mellon

Corp.

(The),

6.30%,

3/20/74

(H15T5Y

+

230bps)

(a) (b) 2,048,051

2,010,000

Goldman

Sachs

Group,

Inc.

(The),

7.50%,

8/18/70

(H15T5Y

+

316bps)

(a)(b) 2,151,721

North

Square

RCIM

Tax-Advantaged

Preferred

and

Income

Securities

ETF

Schedule

of

Investments

(continued)

February

28,

2026

(Unaudited)

P

r

i

nc

i

p

a

l

Amo

u

nt

($)

F

a

i

r

V

a

lu

e

CORPORATE

BONDS

—

81.1%

(Continued)

FINANCIALS

—

66.7%

(continued)

INSTITUTIONAL

FINANCIAL

SERVICES

—

9.1%

(continued)

350,000

Morgan

Stanley,

7.15%,

9/15/70

(TSFR3M

+

342bps)

(a)(b) $

353,044

2,050,000

State

Street

Corp.,

6.70%,

3/15/74

(H15T5Y

+

261bps)

(a)(b) 2,148,047

6,700,863

SPECIALTY

FINANCE

—

4.8%

1,550,000

Air

Lease

Corp.,

6.00%,

9/15/73

(H15T5Y

+

256bps)

(a)(b) 1,512,512

2,100,000

Capital

One

Financial

Corp.,

5.50%,

10/30/73

(TSFR3M

+

3bps)

(d) 2,113,364

3,625,876

TOTAL FINANCIALS

49,412,972

UTILITIES

—

6.1%

ELECTRIC

UTILITIES

—

6.1%

1,950,000

Dominion

Energy,

Inc.,

4.35%,

12/09/71

(H15T5Y

+

320bps)

(a)(b) 1,941,935

400,000

Electricite

de

France

SA,

9.13%,

6/15/73

(H15T5Y

+

541bps)

(a)(b)(c)

475,994

1,900,000

Vistra

Corp.,

8.88%,

1/15/71

(H15T5Y

+

505bps)

(a)(b)(c)

2,100,355

4,518,284

TOTAL UTILITIES

4,518,284

TOTAL

CORPORATE

BONDS

(Cost $59,524,727)

60,060,101

TOTAL

INVESTMENTS

—

94.7%

(Cost

$69,518,974)

$

70,142,889

Other

Assets

in

Excess

of

Liabilities

—

5.3%

3,930,589

NET

ASSETS

—

100.00%

$

74,073,478

(a) Security

is

perpetual

in

nature

and

has

no

stated

maturity

date.

(b) Variable

rate

security.

Interest

rate

resets

periodically.

The

rate

shown

is

the

effective

interest

rate

as

of

February

28,

2026. For

securities

based

on

a

published

reference

rate

and

spread,

the

reference

rate

and

spread

(in

basis

points)

are

indicated

parenthetically.

Certain

variable

rate

securities

are

not

based

on

a

published

reference

rate

and

spread

but

are

determined

by

the

issuer

or

agent

and

are

based

on

current

market

conditions.

These

securities,

therefore,

do

not

indicate

a

reference

rate

and

spread.

(c) Security

exempt

from

registration

under

Rule

144A

or

Section

4(2)

of

the

Securities

Act

of

1933. The

security

may

be

resold

in

transactions

exempt

from

registration,

normally

to

qualified

institutional

buyers.

As

of

February

28,

2026

the

total

market

value

of

144A

securities

is

$6,351,026

or

8.6%

of

net

assets.

(d) Security

is

a

fix-to-float

security,

which

carries

a

fixed

coupon

until

a

certain

date,

upon

which

it

switches

to

a

floating

rate.

Rate

shown

is

the

fixed

rate.

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Exchange Place Advisors Trust

- **b. Investment Company Act file number:** 811-23373

- **c. CIK number of Registrant:** 0001750821

- **d. LEI of Registrant:** 549300K2CKCXH4E67T58

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

  - **Street Address 1:** 200 West Madison St

  - **City:** Chicago

  - **State:** IL

  - **Foreign country:** US

  - **Zip / Postal Code:** 60606

  - **Telephone number:** 312-857-2160

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

- **a. Name of Series:** NORTH SQUARE PREFERRED AND INCOME SECURITIES FUND

- **b. EDGAR series identifier (if any):** S000063488

- **c. LEI of Series:** 549300CG4Z7YIUY16D47

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

- **a. Date of fiscal year-end:** 2026-05-31

- **b. Date as of which information is reported:** 2026-02-28

**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:** $374883800.06

**Total Liabilities:** $287334.78

**Net Assets:** $374596465.28

**Cash Not Reported:** $157986.08

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 343.78756810 | **1-Year:** 4293.59066997 | **5-Year:** 37487.03848763 | **10-Year:** 57119.42801877 | **30-Year:** 13.57875038

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

- **3-Month:** 419.20964280 | **1-Year:** 4942.16229791 | **5-Year:** 9680.43276814 | **10-Year:** 23625.30876290 | **30-Year:** 8446.91390959

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000205685 | 0.35%                | 0.70%                | 0.37%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-204.36                 | $-259151.99                                |
| Month 2  | $111546.02               | $866145.62                                 |
| Month 3  | $1650350.46              | $-1241590.95                               |

**Designated Index Information**

- **Index Name:** NS Pfd and Inc Securities DRP

- **Index Identifier:** NS PFD AND INC SEC DRP

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Rogers Communications Inc.                      | Rogers Communications Inc                                            | CUSIP: 775109DH1<br>LEI: 5493000M6Z4XFIP6PF03 | Long             | DBT              | CORP              | US        |  11000000 | PA      | $11655694.93  | 3.11%             | N/A             | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| ING Groep N.V.                                  | ING Groep NV                                                         | CUSIP: 456837AZ6<br>LEI: 549300NYKK9MWM7GGW15 | Long             | DBT              | CORP              | NL        |   3500000 | PA      | $3164634.90   | 0.84%             | N/A             | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Southern Co.                                    | Southern Company (The) Series A                                      | CUSIP: 842587842<br>LEI: 549300FC3G3YU2FBZD92 | Long             | EP               | CORP              | US        |     10837 | NS      | $577612.10    | 0.15%             | N/A             | Fixed         | 0.00%                 | No            |                  1 | On Loan: No      |
| Vodafone Group PLC                              | Vodafone Group PLC                                                   | CUSIP: 92857WBX7<br>LEI: 213800TB53ELEUKM7Q61 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $4044892.50   | 1.08%             | 2081-06-04      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| CVS Health Corp                                 | CVS Health Corp                                                      | CUSIP: 126650EH9<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $5262045.00   | 1.40%             | 2055-03-10      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Enbridge Inc.                                   | Enbridge Inc                                                         | CUSIP: 29250NAS4<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2009922.00   | 0.54%             | 2077-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| EUSHI Finance Inc.                              | EUSHI Finance Inc                                                    | CUSIP: 29882DAC7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1007669.00   | 0.27%             | 2056-04-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Svenska Handelsbanken AB                        | Svenska Handelsbanken AB                                             | CUSIP: W9T10ZZQ1<br>LEI: NHBDILHZTYCNBV5UYZ31 | Long             | DBT              | CORP              | SE        |   4800000 | PA      | $4619084.54   | 1.23%             | N/A             | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Centerpoint Energy Inc                          | CenterPoint Energy Inc                                               | CUSIP: 15189TBJ5<br>LEI: 21TPXMRRHFKOBHDC8J74 | Long             | DBT              | CORP              | US        |   7650000 | PA      | $8132592.60   | 2.17%             | 2055-02-15      | Fixed         | 6.85%                 | No            |                  2 | On Loan: No      |
| Telus Corp.                                     | TELUS Corp                                                           | CUSIP: 87971MCM3<br>LEI: 894500TX134IMF6NW757 | Long             | DBT              | CORP              | US        |   8000000 | PA      | $8445160.00   | 2.25%             | 2055-10-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| UBS Group AG                                    | UBS Group AG                                                         | CUSIP: H42097CB1<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | US        |   8000000 | PA      | $7285734.96   | 1.94%             | N/A             | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| Huntington Bancshares Incorporated              | Huntington Bancshares Inc/OH                                         | CUSIP: 446150BG8<br>LEI: 549300XTVCVV9I7B5T19 | Long             | DBT              | CORP              | US        |   6000000 | PA      | $6048402.00   | 1.61%             | 2080-10-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Exchange Place Advisors Trust                   | North Square RCIM Tax-Advantaged Preferred and Income Securities ETF | CUSIP: 301471108<br>LEI: 549300K2CKCXH4E67T58 | Long             | EC               | RF                | US        |    189692 | NS      | $4899744.36   | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| South Bow Canadian Infrastructure Holdings Ltd. | South Bow Canadian Infrastructure Holdings Ltd                       | CUSIP: 836720AJ1<br>LEI: 2549004FYUSYLPBT1G26 | Long             | DBT              | CORP              | US        |   8225000 | PA      | $8735180.30   | 2.33%             | 2055-03-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Dominion Energy Inc                             | Dominion Energy Inc                                                  | CUSIP: 25746UEA3<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |   9000000 | PA      | $9166113.00   | 2.45%             | 2056-02-15      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| American Electric Power Co, Inc.                | American Electric Power Co Inc                                       | CUSIP: 02557TAF6<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | DBT              | CORP              | US        |   9500000 | PA      | $9537192.50   | 2.55%             | 2056-03-15      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| UBS Group AG                                    | UBS Group AG                                                         | CUSIP: 225401BJ6<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | US        |   3800000 | PA      | $3894954.40   | 1.04%             | N/A             | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| Enbridge Inc.                                   | Enbridge Inc                                                         | CUSIP: 29250NCF0<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | US        |   5500000 | PA      | $5929313.50   | 1.58%             | 2054-06-27      | Fixed         | 7.20%                 | No            |                  2 | On Loan: No      |
| Truist Financial Corp.                          | Truist Financial Corp                                                | CUSIP: 89832QAF6<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |   8900000 | PA      | $9006889.00   | 2.40%             | N/A             | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| Duke Energy Corp                                | Duke Energy Corp.                                                    | CUSIP: 26441CCG8<br>LEI: I1BZKREC126H0VB1BL91 | Long             | DBT              | CORP              | US        |   8500000 | PA      | $8959595.00   | 2.39%             | 2054-09-01      | Fixed         | 6.45%                 | No            |                  2 | On Loan: No      |
| TransCanada Trust                               | TransCanada Trust                                                    | CUSIP: 89356BAC2<br>LEI: 549300Y0MFCAXLBWUV51 | Long             | DBT              | CORP              | CA        |   2892000 | PA      | $2913863.52   | 0.78%             | 2077-03-15      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| Paramount Global                                | Paramount Global                                                     | CUSIP: 92553PBC5<br>LEI: 5KYC8KF17ROCY24M3H09 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $3914000.00   | 1.04%             | 2057-02-28      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Petroleos Mexicanos Sa De CV                    | Petroleos Mexicanos                                                  | CUSIP: 71656MAF6<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |   6000000 | PA      | $4567260.00   | 1.22%             | 2099-09-28      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Citigroup Inc.                                  | Citigroup Inc                                                        | CUSIP: 17327CAV5<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10304610.00  | 2.75%             | N/A             | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| Banco Bilbao Vizcaya Argentaria SA              | Banco Bilbao Vizcaya Argentaria SA                                   | CUSIP: 05946KAF8<br>LEI: K8MS7FD7N5Z2WQ51AZ71 | Long             | DBT              | CORP              | ES        |   2000000 | PA      | $2025458.00   | 0.54%             | N/A             | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| Bank of America Corp.                           | Bank Of America Corp., Series L, 7.25%                               | CUSIP: 060505682<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EP               | CORP              | US        |      1532 | NS      | $1904291.32   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Algonquin Power & Utilities Corporation         | Algonquin Power & Utilities Corp                                     | CUSIP: 015857AH8<br>LEI: 549300K5VIUTJXQL7X75 | Long             | DBT              | CORP              | US        |   7000000 | PA      | $6946622.90   | 1.85%             | 2082-01-18      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                            | JPMogan Chase & Co.                                                  | CUSIP: 48128BAN1<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   7500000 | PA      | $7477966.80   | 2.00%             | N/A             | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| Royal Bank of Canada                            | Royal Bank of Canada                                                 | CUSIP: 780082AY9<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |  10000000 | PA      | $9996217.00   | 2.67%             | 2085-11-24      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Banco Santander SA                              | Banco Santander SA                                                   | CUSIP: 05964HBH7<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | US        |   6000000 | PA      | $6641508.00   | 1.77%             | N/A             | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| NextEra Energy Inc                              | NextEra Energy, Inc.                                                 | CUSIP: 65339F663<br>LEI: 254900RHL9MEUS5NKX63 | Long             | EP               | CORP              | US        |     15900 | NS      | $896601.00    | 0.24%             | N/A             | Fixed         | 0.00%                 | No            |                  1 | On Loan: No      |
| CMS Energy Corporation                          | CMS Energy Corp                                                      | CUSIP: 125896BU3<br>LEI: 549300IA9XFBAGNIBW29 | Long             | DBT              | CORP              | US        |   8751000 | PA      | $8695667.43   | 2.32%             | 2050-06-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Vistra Corp                                     | Vistra Corp                                                          | CUSIP: 92840MAD4<br>LEI: 549300KP43CPCUJOOG15 | Long             | DBT              | CORP              | US        |   9762000 | PA      | $10791402.90  | 2.88%             | N/A             | Fixed         | 8.87%                 | Yes           |                  2 | On Loan: No      |
| Enbridge Inc.                                   | Enbridge Inc                                                         | CUSIP: 29250NBC8<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |   1000000 | PA      | $1018541.00   | 0.27%             | 2080-07-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Citigroup Inc.                                  | Citigroup Inc.                                                       | CUSIP: 172967QJ3<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2068852.28   | 0.55%             | 2099-05-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Bell Canada                                     | Bell Telephone Co of Canada                                          | CUSIP: 0778FPAQ2<br>LEI: 5493000G3EFX9S7TDE29 | Long             | DBT              | CORP              | US        |   4800000 | PA      | $5082907.20   | 1.36%             | 2055-09-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| The Bank of New York Mellon Corp.               | Bank of New York Mellon Corp./The                                    | CUSIP: 064058AF7<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |   4839000 | PA      | $4838185.50   | 1.29%             | N/A             | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Emera Inc                                       | Emera, Inc.                                                          | CUSIP: 290876AD3<br>LEI: NQZVQT2P5IUF2PGA1Q48 | Long             | DBT              | CORP              | CA        |   8000000 | PA      | $8073416.00   | 2.16%             | 2076-06-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| NextEra Energy Capital Holdings Inc             | NextEra Energy Capital Holdings Inc                                  | CUSIP: 65339KDF4<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |   8700000 | PA      | $9227315.70   | 2.46%             | 2055-08-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| HSBC Holdings PLC                               | HSBC Holdings PLC                                                    | CUSIP: 404280FA2<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |   4800000 | PA      | $5002158.24   | 1.34%             | N/A             | Fixed         | 7.05%                 | No            |                  2 | On Loan: No      |
| CVS Health Corp                                 | CVS Health Corp                                                      | CUSIP: 126650EG1<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |   4000000 | PA      | $4163000.00   | 1.11%             | 2054-12-10      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Nordea Bank ABP                                 | Nordea Bank Abp                                                      | CUSIP: 65558RAQ2<br>LEI: 529900ODI3047E2LIV03 | Long             | DBT              | CORP              | US        |  12000000 | PA      | $12401583.60  | 3.31%             | 2088-11-10      | Fixed         | 6.75%                 | Yes           |                  2 | On Loan: No      |
| Bank of America Corp.                           | Bank of America Corp                                                 | CUSIP: 06055HAH6<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   7500000 | PA      | $7856617.50   | 2.10%             | N/A             | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| EUSHI Finance Inc.                              | EUSHI Finance Inc 7.625 12/15/54                                     | CUSIP: 29882DAB9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2112780.00   | 0.56%             | 2054-12-15      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| BP Capital Markets PLC                          | BP Capital Markets PLC                                               | CUSIP: 05565QDX3<br>LEI: 549300CRVT18MXX0AG93 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $5170600.00   | 1.38%             | 2055-06-18      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Phillips 66 Co.                                 | Phillips 66 Co                                                       | CUSIP: 718547BA9<br>LEI: RVJMT2IZVVSKIRJJBH76 | Long             | DBT              | CORP              | US        |   9000000 | PA      | $9125883.00   | 2.44%             | 2056-03-15      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| Altagas Ltd                                     | AltaGas Ltd                                                          | CUSIP: 021361AD2<br>LEI: 2549008X5V70MOS4HM10 | Long             | DBT              | CORP              | US        |   8000000 | PA      | $8362216.00   | 2.23%             | 2054-10-15      | Fixed         | 7.20%                 | Yes           |                  2 | On Loan: No      |
| Wells Fargo & Co.                               | Wells Fargo & Company                                                | CUSIP: 949746804<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EP               | CORP              | US        |      2368 | NS      | $2917352.32   | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| FMC Corp.                                       | FMC Corp                                                             | CUSIP: 302491AZ8<br>LEI: CKDHZ2X64EEBQCSP7013 | Long             | DBT              | CORP              | US        |   8400000 | PA      | $5531991.36   | 1.48%             | 2055-11-01      | Fixed         | 8.45%                 | No            |                  2 | On Loan: No      |
| First American Funds Inc.                       | First American Treasury Obligations Fund                             | CUSIP: 31846V328<br>LEI: 549300J5J5SJCZ9IA369 | Long             | STIV             | RF                | US        |  25810174 | PA      | $25810173.91  | 6.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Phillips 66 Co.                                 | Phillips 66 Co 5.875 03/15/56 A                                      | CUSIP: 718547AZ5<br>LEI: RVJMT2IZVVSKIRJJBH76 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3016965.00   | 0.81%             | 2056-03-15      | Fixed         | 5.87%                 | No            |                  2 | On Loan: No      |
| NRG Energy, Inc.                                | NRG Energy, Inc.                                                     | CUSIP: 629377CU4<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |   6648000 | PA      | $7322911.61   | 1.95%             | N/A             | Fixed         | 10.25%                | Yes           |                  2 | On Loan: No      |
| NiSource Inc.                                   | NiSource Inc                                                         | CUSIP: 65473PAT2<br>LEI: 549300D8GOWWH0SJB189 | Long             | DBT              | CORP              | US        |  10792000 | PA      | $11275535.56  | 3.01%             | 2055-03-31      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Energy Transfer LP                              | Energy Transfer LP                                                   | CUSIP: 29273VAJ9<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |  11815000 | PA      | $11976180.23  | 3.20%             | N/A             | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Exelon Corp.                                    | Exelon Corp                                                          | CUSIP: 30161NBQ3<br>LEI: 3SOUA6IRML7435B56G12 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10470116.60  | 2.80%             | 2055-03-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Citizens Financial Group Inc                    | Citizens Financial Group, Inc.                                       | CUSIP: 174610BD6<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | DBT              | CORP              | US        |   6405000 | PA      | $6373324.71   | 1.70%             | N/A             | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-02-28

**Name of Applicant:** Exchange Place Advisors Trust

**Signature:** Zachary Richmond

**Name of Signer:** Zachary Richmond

**Title:** Treasurer