# EDGAR Filing Document

**Accession Number:** 0000915802
**File Stem:** 0001752724-23-076040
**Filing Date:** 2023-3
**Character Count:** 64966
**Document Hash:** 8a7f6f15487bdda3e95f7763b3af4352
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-076040.hdr.sgml**: 20230331

**ACCESSION NUMBER**: 0001752724-23-076040

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20230131

**FILED AS OF DATE**: 20230331

**DATE AS OF CHANGE**: 20230331

**PERIOD START**: 20230430

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FINANCIAL INVESTORS TRUST
- **CENTRAL INDEX KEY:** 0000915802
- **IRS NUMBER:** 841255767
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0430

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-08194
- **FILM NUMBER:** 23788585

**BUSINESS ADDRESS:**
- **STREET 1:** P.O. BOX 328
- **CITY:** DENVER
- **STATE:** CO
- **ZIP:** 80201-0328
- **BUSINESS PHONE:** 3036232577

**MAIL ADDRESS:**
- **STREET 1:** P.O. BOX 328
- **CITY:** DENVER
- **STATE:** CO
- **ZIP:** 80201-0328

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FGIC PUBLIC TRUST
- **DATE OF NAME CHANGE:** 19940325

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FEDERAL PUBLIC TRUST
- **DATE OF NAME CHANGE:** 19931206

## Series and Classes Contracts Data

### Emerald Insights Fund (Series ID: S000046191)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000144476 | Class A             | EFCAX           |
| C000144477 | Class C             | EFCCX           |
| C000144478 | Institutional Class | EFCIX           |
| C000144479 | Investor Class      | EFCNX           |

## Nport-Ex

**Schedule of Investments**

**Emerald Growth Fund**

January 31, 2023 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Shares** | | **Value<br> (Note 2)** |
| **COMMON STOCKS: 97.34%** | **COMMON STOCKS: 97.34%** | **COMMON STOCKS: 97.34%** |
| **Basic Materials: 1.59%** | **Basic Materials: 1.59%** |  |
| 305290 | Carpenter Technology Corp. | $14742454 |
| **Consumer Discretionary: 15.11%** | **Consumer Discretionary: 15.11%** |  |
| 89623 | Arhaus, Inc.<sup>(a)</sup> | 1268165 |
| 233934 | BJ's Restaurants, Inc.<sup>(a)</sup> | 7385296 |
| 72517 | Churchill Downs, Inc. | 17991468 |
| 213194 | Chuy's Holdings, Inc.<sup>(a)</sup> | 7297631 |
| 857715 | Everi Holdings, Inc.<sup>(a)</sup> | 14898510 |
| 27279 | Five Below, Inc.<sup>(a)</sup> | 5377509 |
| 156015 | Jack in the Box, Inc. | 11854020 |
| 75965 | Lindblad Expeditions Holdings, Inc.<sup>(a)</sup> | 903983 |
| 341977 | National Vision Holdings, Inc.<sup>(a)</sup> | 14055255 |
| 493720 | Noodles & Co.<sup>(a)</sup> | 3105499 |
| 563459 | Petco Health & Wellness Company<sup>(a)</sup> | 6586836 |
| 178398 | Planet Fitness, Inc., Class A<sup>(a)</sup> | 15101391 |
| 415410 | PlayAGS, Inc.<sup>(a)</sup> | 2745860 |
| 365405 | Portillo's, Inc.<sup>(a)</sup> | 8243537 |
| 86783 | SeaWorld Entertainment, Inc.<sup>(a)</sup> | 5414391 |
| 307891 | Sun Country Airlines Holdings, Inc.<sup>(a)</sup> | 5748325 |
| 45695 | Visteon Corp.<sup>(a)</sup> | 7143956 |
| 118328 | YETI Holdings, Inc.<sup>(a)</sup> | 5296361 |
|  |  | **140417993** |
| **Consumer Staples: 4.91%** | **Consumer Staples: 4.91%** |  |
| 101988 | Celsius Holdings, Inc.<sup>(a)</sup> | 10231436 |
| 222411 | Freshpet, Inc.<sup>(a)</sup> | 14085289 |
| 441699 | Simply Good Foods Co.<sup>(a)</sup> | 16033674 |
| 168384 | Utz Brands, Inc. | 2805277 |
| 549239 | Zevia PBC, Class A<sup>(a)</sup> | 2460591 |
|  |  | **45616267** |
| **Energy: 8.89%** | **Energy: 8.89%** |  |
| 129803 | Ameresco, Inc., Class A<sup>(a)</sup> | 8368399 |
| 292684 | Cactus, Inc. | 15837131 |
| 250286 | ChampionX Corp. | 8264444 |
| 57338 | Denbury, Inc.<sup>(a)</sup> | 4975792 |
| 289376 | Excelerate Energy, Inc. | 6742461 |
| 163330 | Matador Resources Co. | 10805913 |
| 349421 | Northern Oil and Gas, Inc. | 11712592 |
| 438347 | ProFrac Holding Corp.<sup>(a)</sup> | 9862807 |
| 1176312 | TETRA Technologies, Inc.<sup>(a)</sup> | 4658196 |
| 18950 | Valaris, Ltd.<sup>(a)</sup> | 1376528 |
|  |  | **82604263** |
| **Financial Services: 7.89%** | **Financial Services: 7.89%** |  |
| 48424 | Axos Financial, Inc.<sup>(a)</sup> | 2330163 |
| 24700 | Bancorp, Inc.<sup>(a)</sup> | 838071 |
| 440979 | BRP Group, Inc., Class A<sup>(a)</sup> | 12634048 |

---

---

| | | |
|:---|:---|:---|
| **Shares** | | **Value<br> (Note 2)** |
| **Financial Services (continued)** | **Financial Services (continued)** |  |
| 46078 | CNB Financial Corp. | $1111401 |
| 33284 | ConnectOne Bancorp, Inc. | 791161 |
| 2878 | Enterprise Financial Services Corp. | 153455 |
| 83227 | Houlihan Lokey, Inc. | 8245299 |
| 153281 | Mid Penn Bancorp, Inc. | 4823753 |
| 283725 | Moelis & Co., Class A | 13264144 |
| 346638 | Pacific Premier Bancorp, Inc. | 11210273 |
| 224993 | Palomar Holdings, Inc.<sup>(a)</sup> | 11499392 |
| 218932 | Skyward Specialty Insurance Group, Inc.<sup>(a)</sup> | 4052431 |
| 180500 | Trinity Capital, Inc. | 2416895 |
|  |  | **73370486** |
| **Health Care: 30.53%** | **Health Care: 30.53%** |  |
| 556041 | ACADIA Pharmaceuticals, Inc.<sup>(a)</sup> | 10581460 |
| 482017 | AdaptHealth Corp.<sup>(a)</sup> | 10329624 |
| 299452 | Alkermes PLC<sup>(a)</sup> | 8576305 |
| 352697 | Amylyx Pharmaceuticals, Inc.<sup>(a)</sup> | 13822195 |
| 181557 | ANI Pharmaceuticals, Inc.<sup>(a)</sup> | 8121045 |
| 167066 | Arvinas, Inc.<sup>(a)</sup> | 5474753 |
| 220514 | AtriCure, Inc.<sup>(a)</sup> | 9543846 |
| 166884 | Blueprint Medicines Corp.<sup>(a)</sup> | 7800158 |
| 227384 | Certara, Inc.<sup>(a)</sup> | 4411250 |
| 354252 | Collegium Pharmaceutical, Inc.<sup>(a)</sup> | 9947396 |
| 137391 | Cutera, Inc.<sup>(a)</sup> | 4785329 |
| 128191 | CVRx, Inc.<sup>(a)</sup> | 1948503 |
| 215570 | Cytokinetics, Inc.<sup>(a)</sup> | 9157414 |
| 837489 | DocGo, Inc.<sup>(a)</sup> | 8374890 |
| 76211 | Haemonetics Corp.<sup>(a)</sup> | 6447451 |
| 29297 | ICU Medical, Inc.<sup>(a)</sup> | 5661059 |
| 471248 | Insmed, Inc.<sup>(a)</sup> | 10145969 |
| 315636 | IVERIC bio, Inc.<sup>(a)</sup> | 7291192 |
| 33220 | Karuna Therapeutics, Inc.<sup>(a)</sup> | 6623736 |
| 228112 | Lantheus Holdings, Inc.<sup>(a)</sup> | 13116440 |
| 16613 | Madrigal Pharmaceuticals, Inc.<sup>(a)</sup> | 4788697 |
| 491987 | MannKind Corp.<sup>(a)</sup> | 2691169 |
| 203319 | Merit Medical Systems, Inc.<sup>(a)</sup> | 14506811 |
| 948720 | NeoGenomics, Inc.<sup>(a)</sup> | 11270794 |
| 31179 | Ocular Therapeutix, Inc.<sup>(a)</sup> | 121910 |
| 156543 | Orthofix Medical, Inc.<sup>(a)</sup> | 3386025 |
| 386718 | Privia Health Group, Inc.<sup>(a)</sup> | 10456855 |
| 64552 | Prometheus Biosciences, Inc.<sup>(a)</sup> | 7336980 |
| 207856 | Reata Pharmaceuticals, Inc., Class A<sup>(a)</sup> | 9006400 |
| 428491 | Replimune Group, Inc.<sup>(a)</sup> | 11933474 |
| 460443 | Thorne HealthTech, Inc.<sup>(a)</sup> | 2122642 |
| 253611 | TransMedics Group, Inc.<sup>(a)</sup> | 15982565 |
| 508168 | Treace Medical Concepts, Inc.<sup>(a)</sup> | 11733599 |
| 158687 | Ultragenyx Pharmaceutical, Inc.<sup>(a)</sup> | 7193282 |
| 34261 | United Therapeutics Corp.<sup>(a)</sup> | 9016467 |
|  |  | **283707685** |

---

---

| | | |
|:---|:---|:---|
| **Shares** | | **Value<br> (Note 2)** |
| **Industrials: 14.28%** | **Industrials: 14.28%** |  |
| 55830 | AAR Corp.<sup>(a)</sup> | $2871895 |
| 83852 | AeroVironment, Inc.<sup>(a)</sup> | 7460312 |
| 708748 | Babcock & Wilcox Enterprises, Inc.<sup>(a)</sup> | 4706087 |
| 81347 | Chart Industries, Inc.<sup>(a)</sup> | 10898871 |
| 114861 | Exponent, Inc. | 11777847 |
| 184756 | First Advantage Corp.<sup>(a)</sup> | 2564413 |
| 93759 | Forward Air Corp. | 10111908 |
| 58095 | Herc Holdings, Inc. | 9023316 |
| 129124 | I3 Verticals, Inc.<sup>(a)</sup> | 3734266 |
| 781929 | Kratos Defense & Security Solutions, Inc.<sup>(a)</sup> | 8953087 |
| 119981 | Mercury Systems, Inc.<sup>(a)</sup> | 5997250 |
| 216538 | Montrose Environmental Group, Inc.<sup>(a)</sup> | 11727698 |
| 41740 | Napco Security Technologies, Inc.<sup>(a)</sup> | 1209208 |
| 111641 | NV5 Global, Inc.<sup>(a)</sup> | 14880629 |
| 235764 | Shift4 Payments, Inc.<sup>(a)</sup> | 15098327 |
| 16000 | Tetra Tech, Inc. | 2488320 |
| 121634 | TriNet Group, Inc.<sup>(a)</sup> | 9177285 |
|  |  | **132680719** |
| **Real Estate: 0.96%** | **Real Estate: 0.96%** |  |
| 72834 | Hannon Armstrong Sustainable Infrastructure Capital, Inc. | 2688303 |
| 66884 | Ryman Hospitality Properties, Inc. | 6212855 |
|  |  | **8901158** |
| **REITs: 0.61%** | **REITs: 0.61%** |  |
| 88357 | Terreno Realty Corp. | 5692841 |
| **Technology: 10.41%** | **Technology: 10.41%** |  |
| 51987 | Ambarella, Inc.<sup>(a)</sup> | 4670512 |
| 167918 | Coherent, Inc.<sup>(a)</sup> | 7287641 |
| 144426 | Credo Technology Group Holding, Ltd.<sup>(a)</sup> | 2502903 |
| 179739 | EverQuote, Inc., Class A<sup>(a)</sup> | 2803928 |
| 22950 | IPG Photonics Corp.<sup>(a)</sup> | 2572695 |
| 115275 | Jamf Holding Corp.<sup>(a)</sup> | 2290514 |
| 155999 | MACOM Technology Solutions Holdings, Inc.<sup>(a)</sup> | 10455053 |
| 332166 | Model N, Inc.<sup>(a)</sup> | 13173704 |
| 179221 | PDF Solutions, Inc.<sup>(a)</sup> | 5695643 |
| 94930 | Perficient, Inc.<sup>(a)</sup> | 7038110 |
| 169555 | Rapid7, Inc.<sup>(a)</sup> | 6760158 |
| 313922 | SkyWater Technology, Inc.<sup>(a)</sup> | 3396636 |
| 195940 | Super Micro Computer, Inc.<sup>(a)</sup> | 14172340 |
| 103524 | Tenable Holdings, Inc.<sup>(a)</sup> | 4164771 |

---

---

| | | |
|:---|:---|:---|
| **Shares** | | **Value<br> (Note 2)** |
| **Technology (continued)** | **Technology (continued)** |  |
| 376958 | Varonis Systems, Inc.<sup>(a)</sup> | $9740595 |
|  |  | **96725203** |
| **Telecommunications: 1.05%** | **Telecommunications: 1.05%** |  |
| 115969 | Cogent Communications Holdings, Inc. | 7951994 |
| 163435 | Viavi Solutions, Inc.<sup>(a)</sup> | 1846816 |
|  |  | **9798810** |
| **Utilities: 1.12%** | **Utilities: 1.12%** |  |
| 430949 | Aris Water Solution, Inc. | 6675400 |
| 76078 | Evoqua Water Technologies Corp.<sup>(a)</sup> | 3690544 |
|  |  | **10365944** |
|  | **Total Common Stocks** |  |
|  | (Cost $669,093,972) | **904623823** |
| **SHORT-TERM INVESTMENT: 2.92%** | **SHORT-TERM INVESTMENT: 2.92%** |  |
|  | First American Government Obligations Fund |  |
| 27093967 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.129% (12/31/49) | 27093967 |
|  | **Total Short-Term Investment** |  |
|  | (Cost $27,093,967) | **27093967** |
| **Total Investments: 100.26%** | **Total Investments: 100.26%** |  |
| (Cost $696,187,939) | (Cost $696,187,939) | **931717790** |
| **Liabilities In Excess Of Other Assets: (0.26)%** | **Liabilities In Excess Of Other Assets: (0.26)%** | (2401271) |
| **Net Assets: 100.00%** | **Net Assets: 100.00%** | $**929316519** |

---

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

*For Fund compliance purposes, the Fund's industry classifications refer to any one or more of the industry sub-classifications used by one or more widely recognized market indexes or ratings group indexes, and/or as defined by Fund management. This definition may not apply for purposes of this report, which may combine industry sub-classifications for reporting ease. Industries are shown as a percentage of net assets.* 

 

*See Notes to Quarterly Schedule of Investments.* 

**Schedule of Investments**

**Emerald Insights Fund**

January 31, 2023 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Shares** | | **Value<br> (Note 2)** |
| **COMMON STOCKS: 98.95%** | **COMMON STOCKS: 98.95%** | **COMMON STOCKS: 98.95%** |
| **Basic Materials: 2.12%** | **Basic Materials: 2.12%** |  |
| 3612 | MP Materials Corp.<sup>(a)</sup> | $117426 |
| 2877 | Scotts Miracle-Gro Co. | 207691 |
|  |  | **325117** |
| **Communications: 0.70%** | **Communications: 0.70%** |  |
| 726 | Meta Platforms, Inc., Class A<sup>(a)</sup> | 108152 |
| **Consumer Discretionary: 23.11%** | **Consumer Discretionary: 23.11%** |  |
| 6999 | Amazon.com, Inc.<sup>(a)</sup> | 721807 |
| 43 | AutoZone, Inc.<sup>(a)</sup> | 104871 |
| 1045 | Churchill Downs, Inc. | 259264 |
| 13998 | Cinemark Holdings, Inc.<sup>(a)</sup> | 167136 |
| 256 | Costco Wholesale Corp. | 130852 |
| 1752 | Dick's Sporting Goods, Inc. | 229092 |
| 17001 | Everi Holdings, Inc.<sup>(a)</sup> | 295307 |
| 358 | Home Depot, Inc. | 116053 |
| 1677 | Hyatt Hotels Corp., Class A<sup>(a)</sup> | 182994 |
| 387 | Lululemon Athletica, Inc.<sup>(a)</sup> | 118763 |
| 16510 | Petco Health & Wellness Company<sup>(a)</sup> | 193002 |
| 17572 | PlayAGS, Inc.<sup>(a)</sup> | 116151 |
| 2629 | SeaWorld Entertainment, Inc.<sup>(a)</sup> | 164023 |
| 5753 | Sun Country Airlines Holdings, Inc.<sup>(a)</sup> | 107408 |
| 1268 | Take-Two Interactive Software, Inc.<sup>(a)</sup> | 143576 |
| 791 | Tesla, Inc.<sup>(a)</sup> | 137017 |
| 4405 | TJX Cos., Inc. | 360593 |
|  |  | **3547909** |
| **Consumer Staples: 1.10%** | **Consumer Staples: 1.10%** |  |
| 770 | CVS Health Corp. | 67930 |
| 1592 | Freshpet, Inc.<sup>(a)</sup> | 100821 |
|  |  | **168751** |
| **Energy: 7.35%** | **Energy: 7.35%** |  |
| 3248 | Cactus, Inc. | 175749 |
| 1129 | Cheniere Energy, Inc. | 172500 |
| 300 | Enphase Energy, Inc.<sup>(a)</sup> | 66414 |
| 5740 | Excelerate Energy, Inc. | 133742 |
| 8080 | Northern Oil and Gas, Inc. | 270842 |
| 78129 | TETRA Technologies, Inc.<sup>(a)</sup> | 309391 |
|  |  | **1128638** |
| **Financial Services: 2.11%** | **Financial Services: 2.11%** |  |
| 1177 | Euronet Worldwide, Inc.<sup>(a)</sup> | 132624 |
| 1901 | Palomar Holdings, Inc.<sup>(a)</sup> | 97160 |
| 252 | S&P Global, Inc. | 94485 |
|  |  | **324269** |

---

---

| | | |
|:---|:---|:---|
| **Shares** | | **Value<br> (Note 2)** |
| **Health Care: 14.52%** | **Health Care: 14.52%** |  |
| 1758 | Abbott Laboratories | $194347 |
| 7022 | ACADIA Pharmaceuticals, Inc.<sup>(a)</sup> | 133629 |
| 2000 | Amylyx Pharmaceuticals, Inc.<sup>(a)</sup> | 78380 |
| 963 | BioMarin Pharmaceutical, Inc.<sup>(a)</sup> | 111082 |
| 12993 | DocGo, Inc.<sup>(a)</sup> | 129930 |
| 244 | Eli Lilly & Co. | 83973 |
| 5470 | Insmed, Inc.<sup>(a)</sup> | 117769 |
| 2667 | Integer Holdings Corp.<sup>(a)</sup> | 175515 |
| 1360 | Lantheus Holdings, Inc.<sup>(a)</sup> | 78200 |
| 1716 | Merit Medical Systems, Inc.<sup>(a)</sup> | 122437 |
| 1903 | Reata Pharmaceuticals, Inc., Class A<sup>(a)</sup> | 82457 |
| 1929 | Sarepta Therapeutics, Inc.<sup>(a)</sup> | 241067 |
| 1567 | Ultragenyx Pharmaceutical, Inc.<sup>(a)</sup> | 71032 |
| 1491 | United Therapeutics Corp.<sup>(a)</sup> | 392386 |
| 434 | UnitedHealth Group, Inc. | 216648 |
|  |  | **2228852** |
| **Industrials: 12.00%** | **Industrials: 12.00%** |  |
| 39174 | Babcock & Wilcox Enterprises, Inc.<sup>(a)</sup> | 260115 |
| 2129 | Crown Holdings, Inc. | 187693 |
| 7399 | GXO Logistics, Inc.<sup>(a)</sup> | 387190 |
| 12861 | Kratos Defense & Security Solutions, Inc.<sup>(a)</sup> | 147258 |
| 1490 | MasTec, Inc.<sup>(a)</sup> | 146363 |
| 1609 | Visa, Inc., Class A | 370408 |
| 7102 | WillScot Mobile Mini Holdings Corp.<sup>(a)</sup> | 344163 |
|  |  | **1843190** |
| **Producer Durables: 0.97%** | **Producer Durables: 0.97%** |  |
| 2236 | Darling Ingredients, Inc.<sup>(a)</sup> | 148224 |
| **Technology: 34.24%** | **Technology: 34.24%** |  |
| 5654 | Alphabet, Inc., Class A<sup>(a)</sup> | 558841 |
| 1389 | Alteryx, Inc., Class A<sup>(a)</sup> | 77076 |
| 8635 | Apple, Inc. | 1245944 |
| 898 | Cadence Design Systems, Inc.<sup>(a)</sup> | 164181 |
| 3975 | Coherent, Inc.<sup>(a)</sup> | 172515 |
| 1326 | Crowdstrike Holdings, Inc., Class A<sup>(a)</sup> | 140423 |
| 5132 | Ebix, Inc. | 97816 |
| 2515 | Match Group, Inc.<sup>(a)</sup> | 136112 |
| 5450 | Microsoft Corp. | 1350565 |
| 398 | Mongodb Inc<sup>(a)</sup> | 85256 |
| 3543 | NVIDIA Corp. | 692196 |
| 949 | Palo Alto Networks, Inc.<sup>(a)</sup> | 150549 |
| 3946 | Pure Storage, Inc., Class A<sup>(a)</sup> | 114197 |
| 12773 | SkyWater Technology, Inc.<sup>(a)</sup> | 138204 |
| 1834 | Super Micro Computer, Inc.<sup>(a)</sup> | 132653 |
|  |  | **5256528** |

---

---

| | | |
|:---|:---|:---|
| **Shares** | | **Value<br> (Note 2)** |
| **Utilities: 0.73%** | **Utilities: 0.73%** | **Utilities: 0.73%** |
| 7262 | Aris Water Solution, Inc. | $112488 |
|  | **Total Common Stocks** |  |
|  | (Cost $11,061,185) | **15192118** |
| **SHORT-TERM INVESTMENT: 1.49%** | **SHORT-TERM INVESTMENT: 1.49%** |  |
|  | First American Government Obligations Fund |  |
| 228841 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.129% (12/31/49) | 228841 |
|  | **Total Short-Term Investment** |  |
|  | (Cost $228,841) | **228841** |
| **Total Investments: 100.44%** | **Total Investments: 100.44%** |  |
| (Cost $11,290,026) | (Cost $11,290,026) | **15420959** |
| **Liabilities In Excess Of Other Assets: (0.44)%** | **Liabilities In Excess Of Other Assets: (0.44)%** | (67925) |
| **Net Assets: 100.00%** | **Net Assets: 100.00%** | $**15353034** |

---

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

*For Fund compliance purposes, the Fund's industry classifications refer to any one or more of the industry sub-classifications used by one or more widely recognized market indexes or ratings group indexes, and/or as defined by Fund management. This definition may not apply for purposes of this report, which may combine industry sub-classifications for reporting ease. Industries are shown as a percentage of net assets.* 

 

*See Notes to Quarterly Schedule of Investments.* 

**Schedule of Investments**

**Emerald Finance & Banking Innovation Fund**

January 31, 2023 (Unaudited)

---

| | | |
|:---|:---|:---|
| **Shares** | | **Value<br> (Note 2)** |
| **BUSINESS DEVELOPMENT COMPANIES: 0.98%** | **BUSINESS DEVELOPMENT COMPANIES: 0.98%** | **BUSINESS DEVELOPMENT COMPANIES: 0.98%** |
| **Financial Services: 0.98%** | **Financial Services: 0.98%** | **Financial Services: 0.98%** |
| **Investment Companies: 0.98%** | **Investment Companies: 0.98%** |  |
| 38640 | FS KKR Capital Corp. | $759662 |
|  | **Total Business Development Companies** |  |
|  | (Cost $766,042) | **759662** |
| **COMMON STOCKS: 95.39%** | **COMMON STOCKS: 95.39%** |  |
| **Financial Services: 93.34%** | **Financial Services: 93.34%** |  |
| **Asset Managers And Custodians: 1.01%** | **Asset Managers And Custodians: 1.01%** |  |
| 60497 | Runway Growth Finance Corp. | 785856 |
| **Banks: 64.72%** | **Banks: 64.72%** |  |
| 37723 | Axos Financial, Inc.<sup>(a)</sup> | 1815231 |
| 45550 | Banc of California, Inc. | 793481 |
| 53279 | Bancorp, Inc.<sup>(a)</sup> | 1807756 |
| 17690 | Bank OZK | 807902 |
| 44246 | Byline Bancorp, Inc. | 1097301 |
| 13544 | Capital Bancorp, Inc. | 291196 |
| 79499 | CNB Financial Corp. | 1917516 |
| 35488 | Coastal Financial Corp.<sup>(a)</sup> | 1620737 |
| 116842 | Community Heritage Financial, Inc. | 2366050 |
| 24740 | ConnectOne Bancorp, Inc. | 588070 |
| 11968 | Customers Bancorp, Inc.<sup>(a)</sup> | 363468 |
| 17640 | Esquire Financial Holdings, Inc. | 820966 |
| 435568 | Finwise Bancorp<sup>(a)</sup> | 3785086 |
| 33310 | First BanCorp | 448019 |
| 11108 | First Bank | 150291 |
| 40740 | First Financial Bankshares, Inc. | 1451159 |
| 15513 | First Foundation, Inc. | 240917 |
| 5420 | First Republic Bank | 763570 |
| 18040 | Five Star Bancorp | 486358 |
| 38350 | Flushing Financial Corp. | 735936 |
| 56370 | F.N.B. Corp. | 804400 |
| 32190 | Heritage Financial Corp. | 918381 |
| 239146 | LINKBANCORP, Inc. | 1984912 |
| 25010 | Live Oak Bancshares, Inc. | 856092 |
| 53 | Mechanics Bank/Walnut Creek CA | 1272000 |
| 26716 | Metropolitan Bank Holding Corp.<sup>(a)</sup> | 1586396 |
| 22300 | MVB Financial Corp. | 492384 |
| 35617 | National Bank Holdings Corp. | 1504106 |
| 83280 | New York Community Bancorp, Inc. | 831967 |
| 32033 | Northeast Bancorp | 1511958 |
| 37196 | OFG Bancorp | 1053019 |
| 55341 | Pacific Premier Bancorp, Inc. | 1789728 |
| 9469 | Pathward Financial, Inc. | 469852 |
| 11920 | Pinnacle Financial Partners, Inc. | 938462 |
| 1196 | Popular, Inc. | 82093 |
| 142380 | Primis Financial Corp. | 1685779 |

---

---

| | | |
|:---|:---|:---|
| **Shares** | | **Value<br> (Note 2)** |
| **Banks (continued)** | **Banks (continued)** |  |
| 35580 | Seacoast Banking Corp. of Florida | $1142474 |
| 11495 | ServisFirst Bancshares, Inc. | 783729 |
| 3350 | Signature Bank | 431982 |
| 1520 | SVB Financial Group<sup>(a)</sup> | 459709 |
| 51960 | TFS Financial Corp. | 740430 |
| 15971 | Triumph Financial, Inc.<sup>(a)</sup> | 890064 |
| 28927 | Univest Financial Corp. | 785368 |
| 43600 | Valley National Bancorp | 517968 |
| 20422 | Washington Federal, Inc. | 724164 |
| 19470 | Webster Financial Corp. | 1025096 |
| 23916 | Western Alliance Bancorp | 1802549 |
| 8880 | Wintrust Financial Corp | 812254 |
|  |  | **50248326** |
| **Closed End Investments: 7.26%** | **Closed End Investments: 7.26%** |  |
| 40010 | Ares Capital Corp. | 774994 |
| 32530 | Blackstone Secured Lending Fund | 800238 |
| 40470 | Capital Southwest Corp. | 801711 |
| 53970 | NewtekOne, Inc. | 1002762 |
| 36405 | Oaktree Specialty Lending Corp<sup>(a)</sup> | 728464 |
| 70760 | PennantPark Floating Rate Capital, Ltd. | 769161 |
| 39840 | Sixth Street Specialty Lending, Inc. | 762936 |
|  |  | **5640266** |
| **Consumer Lending: 2.47%** | **Consumer Lending: 2.47%** |  |
| 28670 | Ally Financial, Inc. | 931488 |
| 19537 | OneMain Holdings, Inc. | 842826 |
| 20978 | SoFi Technologies, Inc.<sup>(a)</sup> | 145378 |
|  |  | **1919692** |
| **Diversified Finan Serv: 0.99%** | **Diversified Finan Serv: 0.99%** |  |
| 18000 | B Riley Financial, Inc. | 769140 |
| **Insurance: 0.38%** | **Insurance: 0.38%** |  |
| 15790 | Skyward Specialty Insurance Group, Inc.<sup>(a)</sup> | 292273 |
| **Investment Services: 0.18%** | **Investment Services: 0.18%** |  |
| 2340 | Coinbase Global, Inc., Class A<sup>(a)</sup> | 136843 |
| **Mortgage REITs: Commercial: 0.22%** | **Mortgage REITs: Commercial: 0.22%** |  |
| 9106 | Nexpoint Real Estate Finance, Inc. | 173469 |
| **Mortgage REITs: Diversified: 3.11%** | **Mortgage REITs: Diversified: 3.11%** |  |
| 71938 | AGNC Investment Corp. | 834481 |
| 55435 | Ellington Financial, Inc. | 761122 |
| 97580 | Redwood Trust, Inc. | 815769 |
|  |  | **2411372** |
| **Mortgage REITs: Residential: 7.42%** | **Mortgage REITs: Residential: 7.42%** |  |
| 34257 | Annaly Capital Management, Inc. | 804012 |
| 54670 | Arbor Realty Trust, Inc. | 816223 |
| 57760 | Dynex Capital, Inc. | 832322 |
| 56015 | PennyMac Mortgage Investment Trust | 854229 |

---

---

| | | |
|:---|:---|:---|
| **Shares** | | **Value<br> (Note 2)** |
| **Mortgage REITs: Residential (continued)** | **Mortgage REITs: Residential (continued)** |  |
| 62315 | Ready Capital Corp. | $824427 |
| 88690 | Rithm Capital Corp. | 834573 |
| 44330 | Two Harbors Investment Corp<sup>(a)</sup> | 795280 |
|  |  | **5761066** |
| **Open End And Misc Investment Vehicles: 2.30%** | **Open End And Misc Investment Vehicles: 2.30%** |  |
| 71726 | Blue Owl Capital, Inc. | 902313 |
| 66053 | Trinity Capital, Inc. | 884450 |
|  |  | **1786763** |
| **Property And Casualty Insurance: 2.21%** | **Property And Casualty Insurance: 2.21%** |  |
| 6153 | Kinsale Capital Group, Inc. | 1713241 |
| **Real Estate Holding And Development: 1.07%** | **Real Estate Holding And Development: 1.07%** |  |
| 55676 | Bridge Investment Group Holdings, Inc., Class A | 829016 |
| **Industrials: 1.06%** | **Industrials: 1.06%** |  |
| **Aerospace: 0.96%** | **Aerospace: 0.96%** |  |
| 240970 | Applied Digital Corp.<sup>(a)</sup> | 747007 |
| **Transaction Processing Services: 0.10%** | **Transaction Processing Services: 0.10%** |  |
| 1202 | Shift4 Payments, Inc.<sup>(a)</sup> | 76976 |
| **Real Estate: 0.99%** | **Real Estate: 0.99%** |  |
| **Infrastructure Reits: 0.99%** | **Infrastructure Reits: 0.99%** |  |
| 163638 | Power REIT<sup>(a)</sup> | 766464 |
|  | **Total Common Stocks** |  |
|  | (Cost $74,062,134) | **74057770** |
| **RIGHTS: 0.00%** | **RIGHTS: 0.00%** |  |
| 93600 | Terawulf, Inc., Strike Price $0.01, Expiration Date 12/31/2049<sup>(b)</sup> | 0 |
|  | **Total Rights** |  |
|  | (Cost $0) | **0** |
| **WARRANTS: 0.01%** | **WARRANTS: 0.01%** |  |
| 62749 | Paysafe, Ltd., Strike Price $11.50, Expiration Date 12/31/2028 | 6890 |
|  | **Total Warrants** |  |
|  | (Cost $211,219) | **6890** |

---

---

| | | |
|:---|:---|:---|
| **Shares** | | **Value<br> (Note 2)** |
| **SHORT-TERM INVESTMENT: 1.55%** | **SHORT-TERM INVESTMENT: 1.55%** |  |
|  | First American Government Obligations Fund |  |
| 1209131 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.129% (12/31/49) | $1209131 |
|  | **Total Short-Term Investment** |  |
|  | (Cost $1,209,131) | **1209131** |
| **Total Investments: 97.93%** | **Total Investments: 97.93%** |  |
| (Cost $76,248,526) | (Cost $76,248,526) | **76033453** |
| **Other Assets In Excess Of Liabilities: 2.07%** | **Other Assets In Excess Of Liabilities: 2.07%** | 1604831 |
| **Net Assets: 100.00%** | **Net Assets: 100.00%** | $**77638284** |

---

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

*<sup>(b)</sup>* *As a result of the use of significant unobservable inputs to determine fair value, these investments have been classified as level 3 assets. See also Note 2 to the Quarterly Schedule of Investments for additional information.*

 

*For Fund compliance purposes, the Fund's industry classifications refer to any one or more of the industry sub-classifications used by one or more widely recognized market indexes or ratings group indexes, and/or as defined by Fund management. This definition may not apply for purposes of this report, which may combine industry sub-classifications for reporting ease. Industries are shown as a percentage of net assets.* 

 

*See Notes to Quarterly Schedule of Investments.* 

Emerald Funds Notes to Quarterly Schedule of Investments

January 31, 2023 (Unaudited)

1. ORGANIZATION

Financial Investors Trust (the "Trust"), a Delaware statutory trust, is an open-end management investment company registered under the Investment Company Act of 1940, as amended (the "1940 Act"). The Trust consists of multiple separate portfolios or series. This quarterly report describes the Emerald Growth Fund, Emerald Insights Fund and Emerald Finance & Banking Innovation Fund (each a "Fund" and collectively, the "Funds"). The Emerald Growth Fund and Emerald Insights Fund seek to achieve long-term growth through capital appreciation The Emerald Finance & Banking Innovation Fund seeks to achieve long term growth through capital appreciation with income as a secondary objective.

2. SIGNIFICANT ACCOUNTING POLICIES

The accompanying Consolidated Schedule of Investments were prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP"). The preparation of Schedule of Investments in conformity with U.S. GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the Quarterly Schedule of Investments. Actual results could differ from those estimates. The Funds are considered an investment company for financial reporting purposes under U.S. GAAP and follows the accounting and reporting guidance applicable to investment companies in the Financial Accounting Standards Board Accounting Standards Codification Topic 946. The following is a summary of significant accounting policies consistently followed by the Funds in preparation of their Schedule of Investments.

**Investment Valuation:** The Funds generally value their securities based on market prices determined at the close of regular trading on the New York Stock Exchange ("NYSE"), normally, 4:00 p.m. Eastern Time, on each business day the NYSE is open for trading.

For equity securities and mutual funds that are traded on an exchange, the market price is usually the closing sale or official closing price on that exchange. In the case of equity securities not traded on an exchange, or if such closing prices are not otherwise available, the securities are valued at the mean of the most recent bid and ask prices on such day. Redeemable securities issued by open-end registered investment companies are valued at the investment company's applicable net asset value, with the exception of exchange-traded open-end investment companies, which are priced as equity securities.

The market price for debt obligations is generally the price supplied by an independent third-party pricing service approved by the Board of Trustees (the "Board"), which may use a matrix, formula or other objective method that takes into consideration quotations from dealers, market transactions in comparable investments, market indices and yield curves. If vendors are unable to supply a price, or if the price supplied is deemed to be unreliable, the market price may be determined using quotations received from one or more brokers–dealers that make a market in the security.

Equity securities that are primarily traded on foreign securities exchanges are valued at the preceding closing values of such securities on their respective exchanges, except when an occurrence subsequent to the time a value was so established is likely to have changed such value. In such an event, the fair values of those securities are determined in good faith through consideration of other factors in accordance with procedures established by and under the general supervision of the Board.

When such prices or quotations are not available, or when Emerald Mutual Fund Advisers Trust, (the "Adviser"), believes that they are unreliable, securities may be priced using fair value procedures approved by the Board.

**Fair Value Measurements:** A three-tier hierarchy has been established to classify fair value measurements for disclosure purposes. Inputs refer broadly to the assumptions that market participants would use in pricing the asset or liability, including assumptions about risk. Inputs may be observable or unobservable. Observable inputs are inputs that reflect the assumptions market participants would use in pricing the asset or liability that are developed based on market data obtained from sources independent of the reporting entity. Unobservable inputs are inputs that reflect the reporting entity's own assumptions about the assumptions market participants would use in pricing the asset or liability that are developed based on the best information available. Various inputs are used in determining the value of each Fund's investments as of the reporting period end. The designated input levels are not necessarily an indication of the risk or liquidity associated with these investments.

These inputs are categorized in the following hierarchy under applicable financial accounting standards:

---

| | |
|:---|:---|
| Level 1 – | Unadjusted quoted prices in active markets for identical investments, unrestricted assets or liabilities that the Funds have the ability to access at the measurement date; |
| Level 2 – | Quoted prices which are not active, quoted prices for similar assets or liabilities in active markets or inputs other than quoted prices that are observable (either directly or indirectly) for substantially the full term of the asset or liability; and |
| Level 3 – | Significant unobservable prices or inputs (including the Funds' own assumptions in determining the fair value of investments) where there is little or no market activity for the asset or liability at the measurement date. |

---

Emerald Funds Notes to Quarterly Schedule of Investments

January 31, 2022 (Unaudited)

The following is a summary of each input used to value the Funds as of January 31, 2023:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investments in Securities at Value<sup>(a)</sup>** | **Level 1 -<br> Quoted Prices** | **Level 2 -<br> Other Significant Observable Inputs** | **Level 3 -<br> Significant Unobservable Inputs** | **Total** |
| **Emerald Growth Fund** | **Emerald Growth Fund** | **Emerald Growth Fund** | **Emerald Growth Fund** | **Emerald Growth Fund** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Common Stocks | $904623823 | $– | $– | $904623823 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Short-Term Investment | 27093967 | – | – | 27093967 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TOTAL | $931717790 | $– | $– | $931717790 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investments in Securities at Value<sup>(a)</sup>** | **Level 1 -<br> Quoted Prices** | **Level 2 -<br> Other Significant Observable Inputs** | **Level 3 -<br> Significant Unobservable Inputs** | **Total** |
| **Emerald Insights Fund** | **Emerald Insights Fund** | **Emerald Insights Fund** | **Emerald Insights Fund** | **Emerald Insights Fund** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Common Stocks | $15192118 | $– | $– | $15192118 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Short-Term Investment | 228841 | – | – | 228841 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TOTAL | $15420959 | $– | $– | $15420959 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investments in Securities at Value<sup>(a)</sup>** | **Level 1 -<br> Quoted Prices** | **Level 2 -<br> Other Significant Observable Inputs** | **Level 3 -<br> Significant Unobservable Inputs** | **Total** |
| **Emerald Finance & Banking Innovation Fund** | **Emerald Finance & Banking Innovation Fund** | **Emerald Finance & Banking Innovation Fund** | **Emerald Finance & Banking Innovation Fund** | **Emerald Finance & Banking Innovation Fund** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Common Stocks | $– | $– | $– | $– |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Banks | $42827514 | $1272000 | $– | $44099514 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other | 29958256 |  |  | 29958256 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Rights |  |  | &nbsp;&nbsp;&nbsp;&nbsp;– <sup>(b)</sup> |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Short-Term Investment | 1209131 |  |  | 1209131 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Special Purpose Acquisition Companies | 759662 |  |  | 759662 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Warrants | 6890 | – | – | 6890 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TOTAL | $74761453 | $1272000 | $– | $76033453 |

---

*<sup>(a)</sup>* *For detailed descriptions of sector and industry, see the accompanying Schedule of Investments.*

*<sup>(b)</sup>* *Value is $0.00.*

For the three months ended January 31, 2023, the Emerald Finance & Banking Innovation Fund had securities that used significant unobservable inputs (Level 3) in determining fair value.

Emerald Funds Notes to Quarterly Schedule of Investments

January 31, 2023 (Unaudited)

The following is a reconciliation of the investments in which significant unobservable inputs (Level 3) were used in determining fair value:

---

| | | |
|:---|:---|:---|
| **Emerald Finance & Banking Innovation Fund** | **Rights** | **Total** |
| Balance as of April 30, 2023 | $- | $- |
| &nbsp;&nbsp;&nbsp;Accrued discount/ premium |  |  |
| &nbsp;&nbsp;&nbsp;Realized Gain/(Loss) |  |  |
| &nbsp;&nbsp;&nbsp;Change in Unrealized Appreciation/(Depreciation) |  |  |
| &nbsp;&nbsp;&nbsp;Purchases |  |  |
| &nbsp;&nbsp;&nbsp;Sales Proceeds |  |  |
| &nbsp;&nbsp;&nbsp;Transfer into Level 3 |  |  |
| &nbsp;&nbsp;&nbsp;Transfer out of Level 3 | - | - |
| Balance as of January 31, 2023 | $- | $- |
| &nbsp;&nbsp;&nbsp;Net change in unrealized appreciation/(depreciation) included in the Statements of Operations attributable to Level 3 investments held at January 31, 2023 | $- | $- |

---

**Investment Transactions and Investment Income:** Investment transactions are accounted for on the date the investments are purchased or sold (trade date). Realized gains and losses from investment transactions are reported on an identified cost basis, which is the same basis the Funds use for federal income tax purposes. Interest income, which includes accretion of discounts, is accrued and recorded as earned. Dividend income is recognized on the ex-dividend date or for certain foreign securities, as soon as information is available to the Funds. All of the realized and unrealized gains and losses and net investment income, are allocated daily to each class in proportion to its average daily net assets.

**Real Estate Investment Trusts ("REITs"):** The Funds may invest a portion of their assets in REITs and are subject to certain risks associated with direct investment in REITs. REITs may be affected by changes in the value of their underlying properties and by defaults by borrowers or tenants. REITs depend generally on their ability to generate cash flow to make distributions to shareowners, and certain REITs have self-liquidation provisions by which mortgages held may be paid in full and distributions of capital returns may be made at any time. In addition, the performance of a REIT may be affected by its failure to qualify for tax-free pass-through of income under the Code, or its failure to maintain exemption from registration under the 1940 Act. A Fund's investments in REITs may result in such Fund's receipt of cash in excess of the REITs' earnings. If the Fund receives such distributions all or a portion of these distributions will constitute a return of capital to such Fund. Receiving a return of capital distribution from REITs will reduce the amount of income available to be distributed to Fund shareholders. Income from REITs generally will not be eligible for treatment as qualified dividend income. As the final character of the distributions is not known until reported by the REITs on their 1099s, the Funds utilize an average of the prior year's reallocation information as an estimate for the current year character of distributions.

**Epidemic and Pandemic Risk:** Certain countries have been susceptible to epidemics, most recently COVID-19, which has been designated as a pandemic by world health authorities. The outbreak of such epidemics, together with any resulting restrictions on travel or quarantines imposed, could have a negative impact on the economy and business activity globally (including in the countries in which we invest), and thereby could adversely affect the performance of our investments. Furthermore, the rapid development of epidemics could preclude prediction as to their ultimate adverse impact on economic and market conditions, and, as a result, present material uncertainty and risk with respect to us and the performance of our investments.

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** FINANCIAL INVESTORS TRUST

- **b. Investment Company Act file number:** 811-08194

- **c. CIK number of Registrant:** 0000915802

- **d. LEI of Registrant:** 549300XD6LCPI5YWPZ35

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

  - **Street Address 1:** 1290 BROADWAY SUITE 1000

  - **City:** DENVER

  - **State:** CO

  - **Foreign country:** US

  - **Zip / Postal Code:** 80203

  - **Telephone number:** 3036232577

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

- **a. Name of Series:** Emerald Insights Fund

- **b. EDGAR series identifier (if any):** S000046191

- **c. LEI of Series:** 549300DA5H6L1G1MIQ82

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

- **a. Date of fiscal year-end:** 2023-04-30

- **b. Date as of which information is reported:** 2023-01-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $15447911.45

**Total Liabilities:** $47823.70

**Net Assets:** $15400087.75

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000144476 | -2.10%               | -12.38%              | 5.94%                |
| Class ID C000144477 | 1.65%                | -8.98%               | 10.12%               |
| Class ID C000144479 | 2.69%                | -8.02%               | 11.23%               |
| Class ID C000144478 | 2.73%                | -7.91%               | 11.24%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-272674.59              | $780656.86                                 |
| Month 2  | $-44784.27               | $-1381476.90                               |
| Month 3  | $31468.53                | $1609609.46                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Nvidia Corp                                | NVIDIA Corp.                               | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |      3543 | NS      | $692195.91    | 4.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Costco Wholesale Corp                      | Costco Wholesale Corp.                     | CUSIP: 22160K105<br>LEI: 29DX7H14B9S6O3FD6V18 | Long             | EC               | CORP              | US        |       256 | NS      | $130851.84    | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc                               | Alphabet, Inc.                             | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |      5654 | NS      | $558841.36    | 3.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Tetra Technologies Inc                     | TETRA Technologies, Inc.                   | CUSIP: 88162F105<br>LEI: 549300T5W131705EK832 | Long             | EC               | CORP              | US        |     78129 | NS      | $309390.84    | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Cactus Inc                                 | Cactus, Inc.                               | CUSIP: 127203107<br>LEI: 549300J3T8C9F8QFKV08 | Long             | EC               | CORP              | US        |      3248 | NS      | $175749.28    | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Home Depot Inc/the                         | Home Depot, Inc.                           | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |       358 | NS      | $116052.86    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Euronet Worldwide Inc                      | Euronet Worldwide, Inc.                    | CUSIP: 298736109<br>LEI: YG3575C4DSHJPA5KET68 | Long             | EC               | CORP              | US        |      1177 | NS      | $132624.36    | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Babcock & Wilcox Enterprises Inc           | Babcock & Wilcox Enterprises, Inc.         | CUSIP: 05614L209<br>LEI: 5493006H661OZN2C0T54 | Long             | EC               | CORP              | US        |     39174 | NS      | $260115.36    | 1.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Playags Inc                                | PlayAGS, Inc.                              | CUSIP: 72814N104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     17572 | NS      | $116150.92    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Aris Water Solution Inc                    | Aris Water Solution, Inc.                  | CUSIP: 04041L106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      7262 | NS      | $112488.38    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Enphase Energy Inc                         | Enphase Energy, Inc.                       | CUSIP: 29355A107<br>LEI: 5493008U7KIGMI59Z314 | Long             | EC               | CORP              | US        |       300 | NS      | $66414.00     | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Autozone Inc                               | AutoZone, Inc.                             | CUSIP: 053332102<br>LEI: GA3JGKJ41LJKXDN23E90 | Long             | EC               | CORP              | US        |        43 | NS      | $104870.55    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Palo Alto Networks Inc                     | Palo Alto Networks, Inc.                   | CUSIP: 697435105<br>LEI: 549300QXR2YVZV231H43 | Long             | EC               | CORP              | US        |       949 | NS      | $150549.36    | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Insmed Inc                                 | Insmed, Inc.                               | CUSIP: 457669307<br>LEI: 529900Q55QAG41CCAC11 | Long             | EC               | CORP              | US        |      5470 | NS      | $117769.10    | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Willscot Mobile Mini Holdings Corp         | WillScot Mobile Mini Holdings Corp.        | CUSIP: 971378104<br>LEI: 549300HJ4VIXF476Q166 | Long             | EC               | CORP              | US        |      7102 | NS      | $344162.92    | 2.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Amazon.com Inc                             | Amazon.com, Inc.                           | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |      6999 | NS      | $721806.87    | 4.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Reata Pharmaceuticals Inc                  | Reata Pharmaceuticals, Inc.                | CUSIP: 75615P103<br>LEI: 5299005F094GH9QDDD80 | Long             | EC               | CORP              | US        |      1903 | NS      | $82456.99     | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Scotts Miracle-gro Co/the                  | Scotts Miracle-Gro Co.                     | CUSIP: 810186106<br>LEI: 2TH9E0JTOUXOEGI2R879 | Long             | EC               | CORP              | US        |      2877 | NS      | $207690.63    | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Hyatt Hotels Corp                          | Hyatt Hotels Corp.                         | CUSIP: 448579102<br>LEI: T27JQIMTYSH41TCD5186 | Long             | EC               | CORP              | US        |      1677 | NS      | $182994.24    | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corp                             | Microsoft Corp.                            | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |      5450 | NS      | $1350564.50   | 8.77%             |  |  |  | No            |                  1 | On Loan: No      |
| United Therapeutics Corp                   | United Therapeutics Corp.                  | CUSIP: 91307C102<br>LEI: 5299005C4HZL4UWROC14 | Long             | EC               | CORP              | US        |      1491 | NS      | $392386.47    | 2.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Lantheus Holdings Inc                      | Lantheus Holdings, Inc.                    | CUSIP: 516544103<br>LEI: 5299005HUB5IOJGO7S39 | Long             | EC               | CORP              | US        |      1360 | NS      | $78200.00     | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Eli Lilly & Co                             | Eli Lilly & Co.                            | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |       244 | NS      | $83972.60     | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Amylyx Pharmaceuticals Inc                 | Amylyx Pharmaceuticals, Inc.               | CUSIP: 03237H101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2000 | NS      | $78380.00     | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Mp Materials Corp                          | MP Materials Corp.                         | CUSIP: 553368101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3612 | NS      | $117426.12    | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Tesla Inc                                  | Tesla, Inc.                                | CUSIP: 88160R101<br>LEI: 54930043XZGB27CTOV49 | Long             | EC               | CORP              | US        |       791 | NS      | $137017.02    | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Match Group Inc                            | Match Group, Inc.                          | CUSIP: 57667L107<br>LEI: 15OMOPB0A8K0EFUVD031 | Long             | EC               | CORP              | US        |      2515 | NS      | $136111.80    | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Dick's Sporting Goods Inc                  | Dick's Sporting Goods, Inc.                | CUSIP: 253393102<br>LEI: 529900SSBV5I4LWSK313 | Long             | EC               | CORP              | US        |      1752 | NS      | $229091.52    | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Merit Medical Systems Inc                  | Merit Medical Systems, Inc.                | CUSIP: 589889104<br>LEI: 549300OYTY138SP2CE83 | Long             | EC               | CORP              | US        |      1716 | NS      | $122436.60    | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Palomar Holdings Inc                       | Palomar Holdings, Inc.                     | CUSIP: 69753M105<br>LEI: 549300DOI1MUW11BLX74 | Long             | EC               | CORP              | US        |      1901 | NS      | $97160.11     | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Ultragenyx Pharmaceutical Inc              | Ultragenyx Pharmaceutical, Inc.            | CUSIP: 90400D108<br>LEI: 529900EV44GVDN1DCX77 | Long             | EC               | CORP              | US        |      1567 | NS      | $71032.11     | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Cvs Health Corp                            | CVS Health Corp.                           | CUSIP: 126650100<br>LEI: 549300EJG376EN5NQE29 | Long             | EC               | CORP              | US        |       770 | NS      | $67929.40     | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Lululemon Athletica Inc                    | Lululemon Athletica, Inc.                  | CUSIP: 550021109<br>LEI: 549300D9GZ4BMLDW5T40 | Long             | EC               | CORP              | US        |       387 | NS      | $118762.56    | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Sarepta Therapeutics Inc                   | Sarepta Therapeutics, Inc.                 | CUSIP: 803607100<br>LEI: 549300IKDPIED8J8IG21 | Long             | EC               | CORP              | US        |      1929 | NS      | $241067.13    | 1.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Kratos Defense & Security Solutions Inc    | Kratos Defense & Security Solutions, Inc.  | CUSIP: 50077B207<br>LEI: 5493000EKBN0UY1F3F88 | Long             | EC               | CORP              | US        |     12861 | NS      | $147258.45    | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Abbott Laboratories                        | Abbott Laboratories                        | CUSIP: 002824100<br>LEI: HQD377W2YR662HK5JX27 | Long             | EC               | CORP              | US        |      1758 | NS      | $194346.90    | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Sun Country Airlines Holdings Inc          | Sun Country Airlines Holdings, Inc.        | CUSIP: 866683105<br>LEI: 549300MOHOJN9GH0NJ48 | Long             | EC               | CORP              | US        |      5753 | NS      | $107408.51    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Take-two Interactive Software Inc          | Take-Two Interactive Software, Inc.        | CUSIP: 874054109<br>LEI: BOMSTHHJK882EWYX3334 | Long             | EC               | CORP              | US        |      1268 | NS      | $143575.64    | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Visa Inc                                   | Visa, Inc.                                 | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |      1609 | NS      | $370407.89    | 2.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple Inc                                  | Apple, Inc.                                | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |      8635 | NS      | $1245944.15   | 8.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Super Micro Computer Inc                   | Super Micro Computer, Inc.                 | CUSIP: 86800U104<br>LEI: 54930022CZO1N2UGVW07 | Long             | EC               | CORP              | US        |      1834 | NS      | $132653.22    | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Everi Holdings Inc                         | Everi Holdings, Inc.                       | CUSIP: 30034T103<br>LEI: 5299006DK5S7BG10K532 | Long             | EC               | CORP              | US        |     17001 | NS      | $295307.37    | 1.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Unitedhealth Group Inc                     | UnitedHealth Group, Inc.                   | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |       434 | NS      | $216648.46    | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Cheniere Energy Inc                        | Cheniere Energy, Inc.                      | CUSIP: 16411R208<br>LEI: MIHC87W9WTYSYZWV1J40 | Long             | EC               | CORP              | US        |      1129 | NS      | $172499.91    | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Crowdstrike Holdings Inc                   | Crowdstrike Holdings, Inc.                 | CUSIP: 22788C105<br>LEI: 549300YBY08K9KM4HX32 | Long             | EC               | CORP              | US        |      1326 | NS      | $140423.40    | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Freshpet Inc                               | Freshpet, Inc.                             | CUSIP: 358039105<br>LEI: 549300S4ZK8ZQ6HNPN59 | Long             | EC               | CORP              | US        |      1592 | NS      | $100821.36    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Integer Holdings Corp                      | Integer Holdings Corp.                     | CUSIP: 45826H109<br>LEI: 549300SUD2ED5XG6X569 | Long             | EC               | CORP              | US        |      2667 | NS      | $175515.27    | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Excelerate Energy Inc                      | Excelerate Energy, Inc.                    | CUSIP: 30069T101<br>LEI: OZ8GM8L4AHPKSWZMW205 | Long             | EC               | CORP              | US        |      5740 | NS      | $133742.00    | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Seaworld Entertainment Inc                 | SeaWorld Entertainment, Inc.               | CUSIP: 81282V100<br>LEI: 529900G0H4NV3IIK3269 | Long             | EC               | CORP              | US        |      2629 | NS      | $164023.31    | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Biomarin Pharmaceutical Inc                | BioMarin Pharmaceutical, Inc.              | CUSIP: 09061G101<br>LEI: NSLL8ITTRR0J5HEMR848 | Long             | EC               | CORP              | US        |       963 | NS      | $111082.05    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Petco Health & Wellness Co Inc             | Petco Health & Wellness Company            | CUSIP: 71601V105<br>LEI: 2549007TYGV6RVSE9M61 | Long             | EC               | CORP              | US        |     16510 | NS      | $193001.90    | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Docgo Inc                                  | DocGo, Inc.                                | CUSIP: 256086109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     12993 | NS      | $129930.00    | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Coherent Corp                              | Coherent, Inc.                             | CUSIP: 19247G107<br>LEI: 549300O5C25A0MMHHU33 | Long             | EC               | CORP              | US        |      3975 | NS      | $172515.00    | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Government Obligations Fund | First American Government Obligations Fund | CUSIP: 31846V336<br>LEI: 549300R5MYM6VZF1RM44 | Long             | STIV             | RF                | US        |    228841 | NS      | $228840.57    | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Churchill Downs Inc                        | Churchill Downs, Inc.                      | CUSIP: 171484108<br>LEI: 529900FODTBQC8MIS994 | Long             | EC               | CORP              | US        |      1045 | NS      | $259264.50    | 1.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Tjx Cos Inc/the                            | TJX Cos., Inc.                             | CUSIP: 872540109<br>LEI: V167QI9I69W364E2DY52 | Long             | EC               | CORP              | US        |      4405 | NS      | $360593.30    | 2.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Darling Ingredients Inc                    | Darling Ingredients, Inc.                  | CUSIP: 237266101<br>LEI: L1N0SPPKS7EXZYUMZ898 | Long             | EC               | CORP              | US        |      2236 | NS      | $148224.44    | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Skywater Technology Inc                    | SkyWater Technology, Inc.                  | CUSIP: 83089J108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     12773 | NS      | $138203.86    | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Alteryx Inc                                | Alteryx, Inc.                              | CUSIP: 02156B103<br>LEI: 549300XWZG0JHL7I0827 | Long             | EC               | CORP              | US        |      1389 | NS      | $77075.61     | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Pure Storage Inc                           | Pure Storage, Inc.                         | CUSIP: 74624M102<br>LEI: 549300NPDB0BZTK3WO90 | Long             | EC               | CORP              | US        |      3946 | NS      | $114197.24    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Meta Platforms Inc                         | Meta Platforms, Inc.                       | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |       726 | NS      | $108152.22    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| S&p Global Inc                             | S&P Global, Inc.                           | CUSIP: 78409V104<br>LEI: Y6X4K52KMJMZE7I7MY94 | Long             | EC               | CORP              | US        |       252 | NS      | $94484.88     | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Cinemark Holdings Inc                      | Cinemark Holdings, Inc.                    | CUSIP: 17243V102<br>LEI: 549300LL2QMPTYIE0K55 | Long             | EC               | CORP              | US        |     13998 | NS      | $167136.12    | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Northern Oil And Gas Inc                   | Northern Oil and Gas, Inc.                 | CUSIP: 665531307<br>LEI: OKFF0PIZDDMNH4UCYE51 | Long             | EC               | CORP              | US        |      8080 | NS      | $270841.60    | 1.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Cadence Design Systems Inc                 | Cadence Design Systems, Inc.               | CUSIP: 127387108<br>LEI: GCT7RXJOGLXPV0NXZY22 | Long             | EC               | CORP              | US        |       898 | NS      | $164181.34    | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Gxo Logistics Inc                          | GXO Logistics, Inc.                        | CUSIP: 36262G101<br>LEI: 5493007CNWMXN78JRN66 | Long             | EC               | CORP              | US        |      7399 | NS      | $387189.67    | 2.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Mongodb Inc                                | Mongodb Inc                                | CUSIP: 60937P106<br>LEI: 549300TPTG69WKWE1Z37 | Long             | EC               | CORP              | US        |       398 | NS      | $85255.58     | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Mastec Inc                                 | MasTec, Inc.                               | CUSIP: 576323109<br>LEI: 549300TMDIT8WREDOF45 | Long             | EC               | CORP              | US        |      1490 | NS      | $146362.70    | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Ebix Inc                                   | Ebix, Inc.                                 | CUSIP: 278715206<br>LEI: 549300DHXVZR5SW5QR44 | Long             | EC               | CORP              | US        |      5132 | NS      | $97815.92     | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Crown Holdings Inc                         | Crown Holdings, Inc.                       | CUSIP: 228368106<br>LEI: NYLWZIOY8PUNIT4JOE22 | Long             | EC               | CORP              | US        |      2129 | NS      | $187692.64    | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Acadia Pharmaceuticals Inc                 | ACADIA Pharmaceuticals, Inc.               | CUSIP: 004225108<br>LEI: 529900O3044NO0PEA039 | Long             | EC               | CORP              | US        |      7022 | NS      | $133628.66    | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2023-03-02

**Name of Applicant:** FINANCIAL INVESTORS TRUST

**Signature:** Jennell Panella

**Name of Signer:** Jennell Panella

**Title:** Treasurer