# EDGAR Filing Document

**Accession Number:** 0001141819
**File Stem:** 0001133228-26-008018
**Filing Date:** 2026-5
**Character Count:** 84429
**Document Hash:** d1aef92fde9b09d5daa832e6bc51eba1
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001133228-26-008018.hdr.sgml**: 20260505

**ACCESSION NUMBER**: 0001133228-26-008018

**CONFORMED SUBMISSION TYPE**: N-CSR

**PUBLIC DOCUMENT COUNT**: 28

**CONFORMED PERIOD OF REPORT**: 20260228

**FILED AS OF DATE**: 20260505

**DATE AS OF CHANGE**: 20260505

**EFFECTIVENESS DATE**: 20260505

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** TRUST FOR PROFESSIONAL MANAGERS
- **CENTRAL INDEX KEY:** 0001141819

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** N-CSR
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-10401
- **FILM NUMBER:** 26942958

**BUSINESS ADDRESS:**
- **STREET 1:** U.S. BANCORP FUND SERVICES LLC
- **STREET 2:** 615 EAST MICHIGAN ST 2ND FLOOR
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53202
- **BUSINESS PHONE:** 4147655067

**MAIL ADDRESS:**
- **STREET 1:** U.S. BANCORP FUND SERVICES LLC
- **STREET 2:** 615 EAST MICHIGAN ST 2ND FLOOR
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53202

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ZODIAC TRUST
- **DATE OF NAME CHANGE:** 20010601

## Series and Classes Contracts Data

### Bright Rock Mid Cap Growth Fund (Series ID: S000029035)

| Class ID   | Class Name                                                 | Ticker Symbol   |
|:---|:---|:---|
| C000089150 | Bright Rock Mid Cap Growth Fund Institutional Class Shares | BQMGX           |

### Bright Rock Quality Large Cap Fund (Series ID: S000029036)

| Class ID   | Class Name                                                    | Ticker Symbol   |
|:---|:---|:---|
| C000089152 | Bright Rock Quality Large Cap Fund Institutional Class Shares | BQLCX           |

?xml version='1.0' encoding='ASCII'? 2025-12-26190607_BrightRockMidCapGrowthFund_InstitutionalClass_TSRAnnual

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

**FORM N-CSR**

**CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES**

Investment Company Act file number 811-10401

**Trust for Professional Managers**

(Exact name of registrant as specified in charter)

615 East Michigan Street

Milwaukee, WI 53202

(Address of principal executive offices) (Zip code)

Jay S. Fitton

U.S. Bancorp Fund Services, LLC

615 East Michigan Street

Milwaukee, WI 53202

(Name and address of agent for service)

(513) 520-5925

Registrant's telephone number, including area code

Date of fiscal year end: **<u>February 28, 2026</u>**

Date of reporting period: **<u>February 28, 2026</u>**

**<u>Item 1. Reports to Stockholders.</u>**

(a) ---

| | |
|:---|:---|
| ![image](img123001_202409061211356.jpg) | **Bright Rock Mid Cap Growth Fund**  |
| ![image](img123001_202409061211356.jpg) | Institutional Class \| BQMGX  |
| ![image](img123001_202409061211356.jpg) | Annual Shareholder Report \| February 28, 2026  |

---

This annual shareholder report contains important information about the Bright Rock Mid Cap Growth Fund (the "Fund") for the period of March 1, 2025, to February 28, 2026. You can find additional information about the Fund at https://www.brightrockfunds.com/literature.html. You can also request this information by contacting us at 1-866-273-7223. **This report** **describes changes to the Fund that occurred during the reporting period.**

**WHAT WERE THE FUND COSTS FOR THE PAST YEAR?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000** **investment** | **Costs paid as a percentage of** **a $10,000 investment** |
| Institutional Class | $92 | 0.90% |

---

**HOW DID THE FUND PERFORM LAST YEAR AND WHAT AFFECTED ITS PERFORMANCE?**

The Fund's underperformance for fiscal year 2026 relative to the Russell Midcap Growth Total Return Index stemmed from the underperformance of the Fund's holdings in the Industrials and Financials sectors, which detracted 5.11% and 2.59% from relative performance, respectively. These results were offset by positive performance of the Fund's holdings in the Consumer Staples and Technology sectors, which contributed 2.70% and 3.03% to relative performance, respectively.

---

| | |
|:---|:---|
| **Top Contributors** | **Top Contributors** |
| ↑ | Amphenol Corp. - Class A |
| ↑ | Arista Networks, Inc. |
| ↑ | Monster Beverage Corp. |
| ↑ | IDEXX Laboratories, Inc. |
| ↑ | The Hershey Co. |

---

---

| | |
|:---|:---|
| **Top Detractors** | **Top Detractors** |
| ↓ | Tyler Technologies, Inc. |
| ↓ | FactSet Research Systems, Inc. |
| ↓ | Copart, Inc. |
| ↓ | Pinterest, Inc. - Class A |
| ↓ | Morningstar, Inc. |

---

**HOW DID THE FUND PERFORM** **OVER THE PAST 10 YEARS?** **\***

The $100,000 chart reflects a hypothetical $100,000 investment in the class of shares noted. The chart uses total return NAV performance and assumes reinvestment of dividends and capital gains. Fund expenses, including management fees and other expenses, were deducted.

Bright Rock Mid Cap Growth Fund PAGE 1 TSR-AR-89833W451

------

**CUMULATIVE PERFORMANCE** (Initial Investment of $100,000)

![image](ts6767img002.jpg)

**ANNUAL AVERAGE TOTAL RETURN (%)**

---

| | | | |
|:---|:---|:---|:---|
|  | **1 Year** | **5 Year** | **10 Year** |
| **Institutional Class**  | 5.31 | 6.14 | 10.65 |
| **Russell 3000 Total Return Index**  | 17.02 | 12.80 | 15.08 |
| **Russell Midcap Growth Total Return Index**  | 8.22 | 6.34 | 13.19 |

---

Visit https://www.brightrockfunds.com/literature.html for more recent performance information.

\* **The Fund's past performance is not a good predictor of how the Fund will perform in the future.** *The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.*

**KEY FUND STATISTICS** (as of February 28, 2026)

---

| | |
|:---|:---|
| **Net Assets** | $98637929 |
| **Number of Holdings** | 36 |
| **Net Advisory Fee** | $508081 |
| **Portfolio Turnover** | 16% |

---

**WHAT DID THE FUND INVEST IN?** (% of net assets as of February 28, 2026)

---

| | |
|:---|:---|
| **Top 10 Issuers** | **(%)** |
|  Amphenol Corp.  | 6.4% |
|  Arista Networks, Inc.  | 6.1% |
|  The Hershey Co.  | 4.8% |
|  Fastenal Co.  | 4.7% |
|  IDEXX Laboratories, Inc.  | 4.7% |
|  Monster Beverage Corp.  | 4.6% |
|  AMETEK, Inc.  | 4.2% |
|  Tractor Supply Co.  | 4.2% |
|  ResMed, Inc.  | 4.0% |
|  Jack Henry & Associates, Inc.  | 3.2% |

---

**Sector Breakdown** **\***

![image](ts6767img003.jpg)

\* The Global Industry Classification Standard ("GICS®") was developed by and/or is the exclusive property of MSCI, Inc. ("MSCI") and Standard & Poor's Financial Services LLC ("S&P"). GICS® is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services.

**Changes to Fund's Annual Management Fee**

This is a summary of certain changes to the Fund for the period of March 1, 2025, to February 28, 2026. For more complete information, you may review the Fund's prospectus at https://www.brightrockfunds.com/literature.html or upon request at 1-866-273-7223.

Effective June 28, 2025, the Fund's annual management fee rate was reduced from 0.75% to 0.45% of the Fund's average daily net assets.

Bright Rock Mid Cap Growth Fund PAGE 2 TSR-AR-89833W451

------

For additional information about the Fund, including its prospectus, financial information, holdings and proxy voting information, scan the QR code or visit https://www.brightrockfunds.com/literature.html.

**HOUSEHOLDING**

To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). If you would prefer that your Fund documents not be householded, please contact the Fund at 1-866-273-7223, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by the Fund or your financial intermediary.

Bright Rock Mid Cap Growth Fund PAGE 3 TSR-AR-89833W451

10000012122514365614635515817320422822619322054924796426126027512810000012629314678315419416483722307025049423027129613434805640728310000012153614656816100417366325398724301522281627859331911034533820.920.112.512.29.47.66.65.13.81.8 ------

---

| | |
|:---|:---|
| ![image](img123001_202409061211356.jpg) | **Bright Rock Quality Large Cap Fund**  |
| ![image](img123001_202409061211356.jpg) | Institutional Class \| BQLCX  |
| ![image](img123001_202409061211356.jpg) | Annual Shareholder Report \| February 28, 2026  |

---

This annual shareholder report contains important information about the Bright Rock Quality Large Cap Fund (the "Fund") for the period of March 1, 2025, to February 28, 2026. You can find additional information about the Fund at https://www.brightrockfunds.com/literature.html. You can also request this information by contacting us at 1-866-273-7223. **This report** **describes changes to the Fund that occurred during the reporting period.**

**WHAT WERE THE FUND COSTS FOR THE PAST YEAR?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Class Name** | **Costs of a $10,000** **investment** | **Costs paid as a percentage of** **a $10,000 investment** |
| Institutional Class | $74 | 0.71% |

---

**HOW DID THE FUND PERFORM LAST YEAR AND WHAT AFFECTED ITS PERFORMANCE?**

The Fund's underperformance for the fiscal year 2026 relative to the S&P 500 Total Return Index was driven primarily by our stock selection within the Technology sector. The Fund's Technology sector holdings returned -8.37%, compared to 20.61% for the sector as a whole. 3 of the Fund's 5 largest performance detractors were Roper Technologies, Inc., Accenture PLC, and Intuit, Inc. all of which are in the Technology sector.

---

| | |
|:---|:---|
| **Top Contributors** | **Top Contributors** |
| ↑ | Alphabet, Inc. - Class A |
| ↑ | Merck & Co., Inc. |
| ↑ | iShares U.S. Energy ETF |
| ↑ | TJX Cos., Inc. |
| ↑ | NextEra Energy, Inc. |

---

---

| | |
|:---|:---|
| **Top Detractors** | **Top Detractors** |
| ↓ | UnitedHealth Group, Inc. |
| ↓ | Accenture PLC - Class A |
| ↓ | Roper Technologies, Inc. |
| ↓ | Intuit, Inc. |
| ↓ | Copart, Inc. |

---

**HOW DID THE FUND PERFORM** **OVER THE PAST 10 YEARS?** **\***

The $100,000 chart reflects a hypothetical $100,000 investment in the class of shares noted. The chart uses total return NAV performance and assumes reinvestment of dividends and capital gains. Fund expenses, including management fees and other expenses, were deducted.

**CUMULATIVE PERFORMANCE** (Initial Investment of $100,000)

![image](ts6768img002.jpg)

Bright Rock Quality Large Cap Fund PAGE 1 TSR-AR-89833W436

------

**ANNUAL AVERAGE TOTAL RETURN (%)**

---

| | | | |
|:---|:---|:---|:---|
|  | **1 Year** | **5 Year** | **10 Year** |
| **Institutional Class**  | 9.37 | 11.92 | 11.93 |
| **S&P 500 Total Return Index**  | 16.99 | 14.19 | 15.50 |

---

Visit https://www.brightrockfunds.com/literature.html for more recent performance information.

\* **The Fund's past performance is not a good predictor of how the Fund will perform in the future.** *The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares.*

**KEY FUND STATISTICS** (as of February 28, 2026)

---

| | |
|:---|:---|
| **Net Assets** | $438328874 |
| **Number of Holdings** | 43 |
| **Net Advisory Fee** | $2088248 |
| **Portfolio Turnover** | 46% |

---

**WHAT DID THE FUND INVEST IN?** (% of net assets as of February 28, 2026)

---

| | |
|:---|:---|
| **Top 10 Issuers** | **(%)** |
|  Alphabet, Inc.  | 7.5% |
|  Microsoft Corp.  | 5.7% |
|  iShares U.S. Energy ETF  | 4.0% |
|  Merck & Co., Inc.  | 4.0% |
|  Mastercard, Inc.  | 3.5% |
|  Chubb Ltd.  | 3.5% |
|  TJX Cos., Inc.  | 3.4% |
|  Apple, Inc.  | 3.4% |
|  Thermo Fisher Scientific, Inc.  | 3.3% |
|  Union Pacific Corp.  | 3.2% |

---

**Sector Breakdown** **\***

![image](ts6768img003.jpg)

\* The Global Industry Classification Standard ("GICS®") was developed by and/or is the exclusive property of MSCI, Inc. ("MSCI") and Standard & Poor's Financial Services LLC ("S&P"). GICS® is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services.

**Changes to Fund's Annual Management Fee**

This is a summary of certain changes to the Fund for the period of March 1, 2025, to February 28, 2026. For more complete information, you may review the Fund's prospectus at https://www.brightrockfunds.com/literature.html or upon request at 1-866-273-7223.

Effective June 28, 2025, the Fund's annual management fee rate was reduced from 0.65% to 0.45% of the Fund's average daily net assets.

For additional information about the Fund, including its prospectus, financial information, holdings and proxy voting information, scan the QR code or visit https://www.brightrockfunds.com/literature.html.

**HOUSEHOLDING**

To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). If you would prefer that your Fund documents not be householded, please contact the Fund at 1-866-273-7223, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by the Fund or your financial intermediary.

Bright Rock Quality Large Cap Fund PAGE 2 TSR-AR-89833W436

10000011464012557913301514130917579520278420072725514028225130868710000012497514634715319516574721760925327323379330498836112542248620.417.412.210.78.18.17.97.63.54.1 ------

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

**<u>Item 2. Code of Ethics.</u>**

The registrant has adopted a code of ethics that applies to the registrant's principal executive officer and principal financial officer. The registrant has not made any amendments to its code of ethics during the period covered by this report. The registrant has not granted any waivers from any provisions of the code of ethics during the period covered by this report. A copy of the registrant's Code of Ethics is incorporated by reference to the Registrant's Form N-CSR filed on May 9, 2011.

**<u>Item 3. Audit Committee Financial Expert.</u>**

The registrant's board of trustees has determined that there is at least one audit committee financial expert serving on its audit committee. Dr. Michael Akers and Lisa Zúñiga Ramírez are the "audit committee financial expert" and are considered to be "independent" as each term is defined in Item 3 of Form N-CSR.

**<u>Item 4. Principal Accountant Fees and Services.</u>**

The registrant has engaged its principal accountant to perform audit services, audit-related services, tax services and other services during the past two fiscal years. "Audit services" refer to performing an audit of the registrant's annual financial statements or services that are normally provided by the accountant in connection with statutory and regulatory filings or engagements for those fiscal years. "Audit-related services" refer to the assurance and related services by the principal accountant that are reasonably related to the performance of the audit. "Tax services" refer to professional services rendered by the principal accountant for tax compliance, tax advice, and tax planning. "Other services" provided by the principal accountant were Cohen & Company, Ltd ("Cohen & Co."). The following table details the aggregate fees billed or expected to be billed for each of the last two fiscal years for audit fees, audit-related fees, tax fees and other fees by the principal accountant.

---

| | | |
|:---|:---|:---|
| | FYE 2/28/2026 | FYE 2/29/2025 |
| (a) Audit Fees | $32000 | $32000 |
| (b) Audit-Related Fees | $0 | $0 |
| (c) Tax Fees | $7000 | $6000 |
| (d) All Other Fees | $0 | $0 |

---

(e)(1) The audit committee has adopted pre-approval policies and procedures that require the audit committee to pre-approve all audit and non-audit services of the registrant, including services provided to any entity affiliated with the registrant.

(e)(2) The percentage of fees billed by Cohen & Co. applicable to non-audit services pursuant to waiver of pre-approval requirement were as follows:

---

| | | |
|:---|:---|:---|
| | FYE 2/28/2026 | FYE 2/29/2025 |
| Audit-Related Fees | 0% | 0% |
| Tax Fees | 0% | 0% |
| All Other Fees | 0% | 0% |

---

(f) All of the principal accountant's hours spent on auditing the registrant's financial statements were attributed to work performed by full-time permanent employees of the principal accountant.

 

(g) The following table indicates the non-audit fees billed or expected to be billed by the registrant's accountant for services to the registrant and to the registrant's investment adviser (and any other controlling entity, etc.—not sub-adviser) for the last two years.

 

---

| | | |
|:---|:---|:---|
| Non-Audit Related Fees | FYE 2/28/2026 | FYE 2/29/2025 |
| Registrant | $0 | $0 |
| Registrant's Investment Adviser | $0 | $0 |

---

(h) The audit committee of the board of trustees has considered whether the provision of non-audit services that were rendered to the registrant's investment adviser is compatible with maintaining the principal accountant's independence and has concluded that the provision of such non-audit services by the accountant has not compromised the accountant's independence.

(i) Not applicable

(j) Not applicable

**<u>Item 5. Audit Committee of Listed Registrants.</u>**

Not applicable.

**<u>Item 6. Investments.</u>**

(a) Schedule of Investments is included as part of the report to shareholders filed under Item 7(a) of this Form.

(b) Not Applicable

**<u>Item 7. Financial Statements and Financial Highlights for Open-End Investment Companies.</u>**

(a) ![](brflogo.jpg)

**BRIGHT ROCK MID CAP GROWTH FUND**

**BRIGHT ROCK QUALITY LARGE CAP FUND** 

Annual Financial Statements and

Additional Information

February 28, 2026

------

**TABLE OF CONTENTS** 

---

| | |
|:---|:---|
|  | **Page**  |
| [Schedules of Investments](#a_700)<br>|  |
| &nbsp;&nbsp;&nbsp; [Bright Rock Mid Cap Growth Fund](#mcgf) | [1](#mcgf) |
| &nbsp;&nbsp;&nbsp; [Bright Rock Quality Large Cap Fund](#qlcf) | [4](#qlcf) |
| [Statements of Assets and Liabilities](#sal) | [7](#sal) |
| [Statements of Operations](#sop) | [8](#sop) |
| [Statements of Changes in Net Assets](#scna) | [9](#scna) |
| [Financial Highlights](#a_800)<br>|  |
| &nbsp;&nbsp;&nbsp; [Bright Rock Mid Cap Growth Fund](#fihi1) | [10](#fihi1) |
| &nbsp;&nbsp;&nbsp; [Bright Rock Quality Large Cap Fund](#fihi2) | [11](#fihi2) |
| [Notes to Financial Statements](#notes) | [12](#notes) |
| [Report of Independent Registered Public Accounting Firm](#report) | [18](#report) |
| [Additional Information](#add) | [19](#add) |

---

------

**[**TABLE OF CONTENTS**](#TOC)**

**BRIGHT ROCK MID CAP GROWTH FUND** 

**SCHEDULE OF INVESTMENTS** 

**February 28, 2026** 

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value**  |
| **COMMON STOCKS - 98.2%**<br>|  |  |
| **Aerospace & Defense - 2.3%**<br>|  |  |
| HEICO Corp. | 7000 | $2236220  |
| **Beverages - 4.6%** | **Beverages - 4.6%** |  |
| Monster Beverage Corp.<sup>(a)</sup> | 53000 | 4520900  |
| **Capital Markets - 2.7%**<br>|  |  |
| FactSet Research Systems, Inc. | 6000 | 1300860  |
| Morningstar, Inc. | 7500 | 1373550  |
|  |  | 2674410  |
| **Commercial Services & Supplies - 6.0%** | **Commercial Services & Supplies - 6.0%** |  |
| Copart, Inc.<sup>(a)</sup> | 75000 | 2856750  |
| Rollins, Inc. | 50250 | 3059723  |
|  |  | 5916473  |
| **Communications Equipment - 6.1%** | **Communications Equipment - 6.1%** |  |
| Arista Networks, Inc.<sup>(a)</sup> | 45000 | 6007500  |
| **Construction Materials - 2.5%** | **Construction Materials - 2.5%** |  |
| Vulcan Materials Co. | 8000 | 2480000  |
| **Consumer Staples Distribution & Retail - 1.8%** | **Consumer Staples Distribution & Retail - 1.8%** |  |
| Sysco Corp. | 20000 | 1823200  |
| **Containers & Packaging - 2.6%** | **Containers & Packaging - 2.6%** |  |
| AptarGroup, Inc. | 17500 | 2514925  |
| **Electrical Equipment - 4.2%** | **Electrical Equipment - 4.2%** |  |
| AMETEK, Inc. | 17500 | 4186350  |
| **Electronic Equipment, Instruments & Components - 6.4%** | **Electronic Equipment, Instruments & Components - 6.4%** |  |
| Amphenol Corp. - Class A | 43000 | 6280580  |
| **Entertainment - 2.5%** | **Entertainment - 2.5%** |  |
| Live Nation Entertainment, Inc.<sup>(a)</sup> | 15000 | 2432100  |
| **Financial Services - 3.2%** | **Financial Services - 3.2%** |  |
| Jack Henry & Associates, Inc. | 19600 | 3184216  |
| **Food Products - 4.8%** | **Food Products - 4.8%** |  |
| The Hershey Co. | 20000 | 4725600  |
| **Health Care Equipment & Supplies - 10.9%** | **Health Care Equipment & Supplies - 10.9%** |  |
| Edwards Lifesciences Corp.<sup>(a)</sup> | 25000 | 2161750  |
| IDEXX Laboratories, Inc.<sup>(a)</sup> | 7000 | 4597110  |
| ResMed, Inc. | 15500 | 3972030  |
|  |  | 10730890  |
| **Hotels, Restaurants & Leisure - 3.5%** | **Hotels, Restaurants & Leisure - 3.5%** |  |
| Chipotle Mexican Grill, Inc.<sup>(a)</sup> | 30000 | 1116600  |
| Hilton Worldwide Holdings, Inc. | 7500 | 2338350  |
|  |  | 3454950  |

---

The accompanying notes are an integral part of these financial statements.

1<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**BRIGHT ROCK MID CAP GROWTH FUND** 

**SCHEDULE OF INVESTMENTS** 

**February 28, 2026(Continued)** 

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value**  |
| **COMMON STOCKS - (Continued)** <br>|  |  |
| **Household Products - 1.3%** | **Household Products - 1.3%** |  |
| Clorox Co. | 10400 | $1322464  |
| **Insurance - 1.7%** | **Insurance - 1.7%** |  |
| Arthur J Gallagher & Co. | 7500 | 1711500  |
| **Interactive Media & Services - 1.3%** | **Interactive Media & Services - 1.3%** |  |
| Pinterest, Inc. - Class A<sup>(a)</sup> | 74000 | 1267620  |
| **Life Sciences Tools & Services - 1.3%** | **Life Sciences Tools & Services - 1.3%** |  |
| West Pharmaceutical Services, Inc. | 5000 | 1271700  |
| **Machinery - 2.9%** | **Machinery - 2.9%** |  |
| Lincoln Electric Holdings, Inc. | 10000 | 2870500  |
| **Oil, Gas & Consumable Fuels - 6.6%** | **Oil, Gas & Consumable Fuels - 6.6%** |  |
| Coterra Energy, Inc. | 50000 | 1529500  |
| DT Midstream, Inc. | 15000 | 2082600  |
| ONEOK, Inc. | 34850 | 2884534  |
|  |  | 6496634  |
| **Software - 8.4%** | **Software - 8.4%** |  |
| Bentley Systems, Inc. - Class B | 50000 | 1827500  |
| Fair Isaac Corp.<sup>(a)</sup> | 1600 | 2254976  |
| PTC, Inc.<sup>(a)</sup> | 12500 | 1957375  |
| Tyler Technologies, Inc.<sup>(a)</sup> | 6250 | 2216812  |
|  |  | 8256663  |
| **Specialty Retail - 5.9%** | **Specialty Retail - 5.9%** |  |
| Ross Stores, Inc. | 8000 | 1645120  |
| Tractor Supply Co. | 80000 | 4147200  |
|  |  | 5792320  |
| **Trading Companies & Distributors - 4.7%** | **Trading Companies & Distributors - 4.7%** |  |
| Fastenal Co. | 101600 | 4677664  |
| &nbsp;&nbsp;&nbsp; **TOTAL COMMON STOCKS** <br>**(Cost $43,977,911)** |  | 96835379  |
| **SHORT-TERM INVESTMENTS**<br>|  |  |
| **MONEY MARKET FUNDS - 1.8%**<br>|  |  |
| Morgan Stanley Institutional Liquidity Funds - Institutional Class, 3.59%<sup>(b)</sup> | 1819232 | 1819232  |
| &nbsp;&nbsp;&nbsp; **TOTAL MONEY MARKET FUNDS** <br>**(Cost $1,819,232)** |  | 1819232  |
| &nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS - 100.0%** <br>**(Cost $45,797,143)** |  | $98654611  |
| Liabilities in Excess of Other Assets - (0.0)%<sup>(c)</sup> |  | (16682)  |
| **TOTAL NET ASSETS - 100.0%** |  | $98637929 |

---

The accompanying notes are an integral part of these financial statements.

2<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**BRIGHT ROCK MID CAP GROWTH FUND** 

**SCHEDULE OF INVESTMENTS** 

**February 28, 2026(Continued)** 

Percentages are stated as a percent of net assets.

The Global Industry Classification Standard ("GICS<sup>®</sup>") was developed by and/or is the exclusive property of MSCI, Inc. ("MSCI") and Standard & Poor's Financial Services LLC ("S&P"). GICS<sup>®</sup> is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services.

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

<sup>(b)</sup> The rate shown represents the 7-day annualized yield as of February 28, 2026.

<sup>(c)</sup> Represents less than 0.05% of net assets. 

The accompanying notes are an integral part of these financial statements.

3<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**BRIGHT ROCK QUALITY LARGE CAP FUND** 

**SCHEDULE OF INVESTMENTS** 

**February 28, 2026** 

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value**  |
| **COMMON STOCKS - 94.1%**<br>|  |  |
| **Banks - 1.5%**<br>|  |  |
| JPMorgan Chase & Co. | 22000 | $6606600  |
| **Beverages - 2.5%**<br>|  |  |
| PepsiCo, Inc. | 65000 | 11033100  |
| **Capital Markets - 6.8%**<br>|  |  |
| Blackrock, Inc. | 10500 | 11163915  |
| Charles Schwab Corp. | 125000 | 11900000  |
| Intercontinental Exchange, Inc. | 25000 | 4103250  |
| Morgan Stanley | 16000 | 2664160  |
|  |  | 29831325  |
| **Chemicals - 3.3%**<br>|  |  |
| Ecolab, Inc. | 18000 | 5550300  |
| Linde PLC | 17500 | 8891400  |
|  |  | 14441700  |
| **Commercial Services & Supplies - 2.0%**<br>|  |  |
| Copart, Inc.<sup>(a)</sup> | 227000 | 8646430  |
| **Consumer Staples Distribution & Retail - 2.0%**<br>|  |  |
| Walmart, Inc. | 69000 | 8828550  |
| **Diversified Telecommunication Services - 2.0%**<br>|  |  |
| Verizon Communications, Inc. | 170000 | 8523800  |
| **Electric Utilities - 2.4%**<br>|  |  |
| NextEra Energy, Inc. | 110000 | 10314700  |
| **Energy Equipment & Services - 1.5%**<br>|  |  |
| SLB Ltd. | 130000 | 6674200  |
| **Financial Services - 5.6%**<br>|  |  |
| Mastercard, Inc. - Class A | 30000 | 15516300  |
| Visa, Inc. - Class A | 28250 | 9043955  |
|  |  | 24560255  |
| **Food Products - 1.8%**<br>|  |  |
| McCormick & Co., Inc. | 110000 | 7814400  |
| **Ground Transportation - 3.2%**<br>|  |  |
| Union Pacific Corp. | 53500 | 14176430  |
| **Health Care Providers & Services - 1.5%**<br>|  |  |
| Elevance Health, Inc. | 21000 | 6720000  |
| **Health Care Technology - 1.8%**<br>|  |  |
| Veeva Systems, Inc. - Class A<sup>(a)</sup> | 43000 | 7826430  |
| **Hotels, Restaurants & Leisure - 2.1%**<br>|  |  |
| Starbucks Corp. | 95000 | 9311900  |

---

The accompanying notes are an integral part of these financial statements.

4<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**BRIGHT ROCK QUALITY LARGE CAP FUND** 

**SCHEDULE OF INVESTMENTS** 

**February 28, 2026(Continued)** 

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value**  |
| **COMMON STOCKS - (Continued)** <br>|  |  |
| **Household Products - 1.3%**<br>|  |  |
| Colgate-Palmolive Co. | 59000 | $5849260  |
| **Industrial Conglomerates - 2.9%**<br>|  |  |
| Honeywell International, Inc. | 52500 | 12788475  |
| **Insurance - 3.5%**<br>|  |  |
| Chubb Ltd. | 45000 | 15338700  |
| **Interactive Media & Services - 8.7%**<br>|  |  |
| Alphabet, Inc. - Class A | 105000 | 32734800  |
| Meta Platforms, Inc. - Class A | 8000 | 5185440  |
|  |  | 37920240  |
| **IT Services - 2.0%**<br>|  |  |
| Cognizant Technology Solutions Corp. - Class A | 135000 | 8698050  |
| **Life Sciences Tools & Services - 3.3%**<br>|  |  |
| Thermo Fisher Scientific, Inc. | 27500 | 14330525  |
| **Multi-Utilities - 1.1%**<br>|  |  |
| WEC Energy Group, Inc. | 42000 | 4912320  |
| **Oil, Gas & Consumable Fuels - 2.4%**<br>|  |  |
| EOG Resources, Inc. | 35000 | 4342800  |
| Exxon Mobil Corp. | 40000 | 6100000  |
|  |  | 10442800  |
| **Pharmaceuticals - 5.6%**<br>|  |  |
| Merck & Co., Inc. | 142000 | 17582440  |
| Zoetis, Inc. | 54000 | 7079400  |
|  |  | 24661840  |
| **Semiconductors & Semiconductor Equipment - 6.1%**<br>|  |  |
| NVIDIA Corp. | 80000 | 14175200  |
| Texas Instruments, Inc. | 59000 | 12514490  |
|  |  | 26689690  |
| **Software - 7.8%**<br>|  |  |
| Intuit, Inc. | 22500 | 9203175  |
| Microsoft Corp. | 64000 | 25135360  |
|  |  | 34338535  |
| **Specialty Retail - 3.9%**<br>|  |  |
| Home Depot, Inc. | 5000 | 1903600  |
| TJX Cos., Inc. | 92500 | 14953550  |
|  |  | 16857150  |
| **Technology Hardware, Storage & Peripherals - 3.4%**<br>|  |  |
| Apple, Inc. | 56000 | 14794080  |

---

The accompanying notes are an integral part of these financial statements.

5<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**BRIGHT ROCK QUALITY LARGE CAP FUND** 

**SCHEDULE OF INVESTMENTS** 

**February 28, 2026(Continued)** 

---

| | | |
|:---|:---|:---|
|  | **Shares** | **Value**  |
| **COMMON STOCKS - (Continued)** <br>|  |  |
| **Textiles, Apparel & Luxury Goods - 2.1%**<br>|  |  |
| NIKE, Inc. - Class B | 150000 | $9327000  |
| &nbsp;&nbsp;&nbsp; **TOTAL COMMON STOCKS** <br>**(Cost $254,192,170)** |  | 412258485  |
| **EXCHANGE TRADED FUNDS - 5.2%**<br>|  |  |
| iShares U.S. Energy ETF | 300000 | 17718000  |
| State Street Technology Select Sector SPDR ETF | 36511 | 5066267  |
| &nbsp;&nbsp;&nbsp; **TOTAL EXCHANGE TRADED FUNDS** <br>**(Cost $9,937,339)** |  | 22784267  |
| **SHORT-TERM INVESTMENTS**<br>|  |  |
| **MONEY MARKET FUNDS - 2.2%**<br>|  |  |
| Morgan Stanley Institutional Liquidity Funds - Institutional Class, 3.59%<sup>(b)</sup> | 9680084 | 9680084  |
| &nbsp;&nbsp;&nbsp; **TOTAL MONEY MARKET FUNDS** <br>**(Cost $9,680,084)** |  | 9680084  |
| &nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS - 101.5%** <br>**(Cost $273,809,593)** |  | $444722836  |
| Liabilities in Excess of Other Assets - (1.5)% |  | (6393962)  |
| **TOTAL NET ASSETS - 100.0%** |  | $438328874 |

---

Percentages are stated as a percent of net assets.

PLC - Public Limited Company

The Global Industry Classification Standard ("GICS<sup>®</sup>") was developed by and/or is the exclusive property of MSCI, Inc. ("MSCI") and Standard & Poor's Financial Services LLC ("S&P"). GICS<sup>®</sup> is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services.

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

<sup>(b)</sup> The rate shown represents the 7-day annualized yield as of February 28, 2026.

The accompanying notes are an integral part of these financial statements.

6<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**BRIGHT ROCK FUNDS** 

**STATEMENTS OF ASSETS AND LIABILITIES** 

**February 28, 2026** 

---

| | | |
|:---|:---|:---|
|  | **Bright Rock** <br>**Mid Cap** <br>**Growth Fund** | **Bright Rock** <br>**Quality Large** <br>**Cap Fund**  |
| **ASSETS:**<br>|  |  |
| Investments, at value | $98654611 | $444722836  |
| Dividends receivable | 78261 | 488819  |
| Receivable for fund shares sold | 51434 | 725594  |
| Prepaid expenses and other assets | 5134 | 6160  |
| &nbsp;&nbsp;&nbsp; **Total assets** | 98789440 | 445943409  |
| **LIABILITIES:**<br>|  |  |
| Payable for investments purchased |  | 7107396 |
| Payable for fund administration and accounting fees | 49520 | 156296  |
| Payable to Adviser | 31989 | 143508  |
| Payable for audit fees | 19518 | 19501  |
| Payable for transfer agent fees and expenses | 9080 | 14704  |
| Payable for capital shares redeemed | 6457 | 126500  |
| Payable for compliance fees | 4167 | 4165  |
| Payable for custodian fees | 1574 | 7126  |
| Payable for shareholder servicing fees | 1267 | 12061  |
| Payable for expenses and other liabilities | 27939 | 23278  |
| &nbsp;&nbsp;&nbsp; **Total liabilities** | 151511 | 7614535  |
| **NET ASSETS** | $98637929 | $438328874  |
| **Net Assets Consists of:**<br>|  |  |
| Paid-in capital | $45370852 | $262276537  |
| Total distributable earnings | 53267077 | 176052337  |
| &nbsp;&nbsp;&nbsp; **Total net assets** | $98637929 | $438328874  |
| **Institutional Class**<br>|  |  |
| Net assets | $98637929 | $438328874  |
| Shares issued and outstanding<sup>(a)</sup> | 4046588 | 19123090  |
| Net asset value per share | $24.38 | $22.92  |
| **Cost:**<br>|  |  |
| &nbsp;&nbsp;&nbsp; Investments, at cost | $45797143 | $273809593 |

---

<sup>(a)</sup> Unlimited shares authorized, $0.001 par value. 

The accompanying notes are an integral part of these financial statements.

7<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**BRIGHT ROCK FUNDS** 

**STATEMENTS OF OPERATIONS** 

**For the Year Ended February 28, 2026** 

---

| | | |
|:---|:---|:---|
|  | **Bright Rock** <br>**Mid Cap** <br>**Growth Fund** | **Bright Rock** <br>**Quality Large** <br>**Cap Fund**  |
| **INVESTMENT INCOME:** <br>|  |  |
| Dividend income | $1101820 | $6774713  |
| &nbsp;&nbsp;&nbsp; **Total investment income** | 1101820 | 6774713  |
| **EXPENSES:** <br>|  |  |
| Investment advisory fee | 508081 | 2088248  |
| Fund administration and accounting fees | 147581 | 449523  |
| Trustees' fees | 33931 | 33911  |
| Transfer agent fees | 32531 | 187573  |
| Federal and state registration fees | 23564 | 27322  |
| Legal fees | 19460 | 32962  |
| Audit fees | 17515 | 17505  |
| Compliance fees | 12500 | 12495  |
| Custodian fees | 9347 | 41045  |
| Reports to shareholders | 8601 | 12892  |
| Interest expense |  | 381  |
| Other expenses and fees | 25757 | 11779  |
| &nbsp;&nbsp;&nbsp; Total expenses | 838868 | 2915636  |
| **Net investment income** | 262952 | 3859077  |
| **REALIZED AND UNREALIZED GAIN (LOSS)**<br>|  |  |
| Net realized gain (loss) from investments | 1132661 | 20918077  |
| Net change in unrealized appreciation (depreciation) on investments | 3528924 | 12576149  |
| **Net realized and unrealized gain (loss)** | 4661585 | 33494226  |
|  **NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS** | $4924537 | $37353303 |

---

The accompanying notes are an integral part of these financial statements.

8<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**BRIGHT ROCK FUNDS** 

**STATEMENTS OF CHANGES IN NET ASSETS** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Bright Rock** <br>**Mid Cap Growth Fund** | **Bright Rock** <br>**Mid Cap Growth Fund** | **Bright Rock** <br>**Quality Large Cap Fund**  | **Bright Rock** <br>**Quality Large Cap Fund**  |
|  | **Year Ended February 28,**  | **Year Ended February 28,**  | **Year Ended February 28,**  | **Year Ended February 28,**  |
|  | **2026** | **2025** | **2026** | **2025**  |
| **OPERATIONS:**<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp; Net investment income (loss) | $262952 | $124056 | $3859077 | $2641935  |
| &nbsp;&nbsp;&nbsp; Net realized gain (loss) | 1132661 | 9393466 | 20918077 | 31916017  |
| &nbsp;&nbsp;&nbsp; Net change in unrealized appreciation (depreciation) | 3528924 | (4820945) | 12576149 | 5461290  |
| &nbsp;&nbsp;&nbsp; **Net increase (decrease) in net assets from operations** | 4924537 | 4696577 | 37353303 | 40019242  |
| **DISTRIBUTIONS TO SHAREHOLDERS:**<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp; From earnings - Institutional Class | (3708845) | (5499131) | (30810489) | (34090946)  |
| &nbsp;&nbsp;&nbsp; **Total distributions to shareholders** | (3708845) | (5499131) | (30810489) | (34090946)  |
| **CAPITAL TRANSACTIONS:**<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp; Shares sold - Institutional Class | 9660187 | 7843696 | 43341732 | 37065809  |
| &nbsp;&nbsp;&nbsp; Shares issued from reinvestment of distributions - Institutional Class | 3688040 | 5305363 | 28326683 | 32312868  |
| &nbsp;&nbsp;&nbsp; Shares redeemed - Institutional Class | (6819888) | (9888930) | (41558096) | (60051651)  |
| &nbsp;&nbsp;&nbsp; **Net increase (decrease) in net assets from capital transactions** | 6528339 | 3260129 | 30110319 | 9327026  |
| **Net increase (decrease) in net assets** | 7744031 | 2457575 | 36653133 | 15255322  |
| **NET ASSETS:**<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp; Beginning of the year | 90893898 | 88436323 | 401675741 | 386420419  |
| &nbsp;&nbsp;&nbsp; End of the year | $98637929 | $90893898 | $438328874 | $401675741  |
| **SHARES TRANSACTIONS**<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp; Shares sold - Institutional Class | 398582 | 313916 | 1924539 | 1606969  |
| &nbsp;&nbsp;&nbsp; Shares issued from reinvestment of distributions - Institutional Class | 155811 | 206434 | 1261485 | 1422469  |
| &nbsp;&nbsp;&nbsp; Shares redeemed - Institutional Class | (279965) | (395763) | (1842480) | (2602694)  |
| &nbsp;&nbsp;&nbsp; **Total increase (decrease) in shares outstanding** | 274428 | 124587 | 1343544 | 426744 |

---

The accompanying notes are an integral part of these financial statements.

9<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**BRIGHT ROCK MID CAP GROWTH FUND** 

**FINANCIAL HIGHLIGHTS** 

**INSTITUTIONAL CLASS** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Year Ended February 28,** | **Year Ended February 28,** | **Year Ended** <br>**February 29,** <br>**2024** | **Year Ended February 28,**  | **Year Ended February 28,**  |
|  | **2026** | **2025** | **Year Ended** <br>**February 29,** <br>**2024** | **2023** | **2022**  |
| **PER SHARE DATA:**<br>|  |  |  |  |  |
| Net asset value, beginning of year | $24.10 | $24.25 | &nbsp;&nbsp; $21.56 | $23.35 | $22.90  |
| **INVESTMENT OPERATIONS:**<br>|  |  |  |  |  |
| Net investment income (loss)<sup>(a)</sup> | 0.07 | 0.03 | 0.03 | (0.01) | (0.07)  |
|  Net realized and unrealized gain (loss) on investments<sup>(b)</sup> | 1.18 | 1.35 | 2.66 | (0.59) | 2.65  |
| **Total from investment operations** | 1.25 | 1.38 | 2.69 | (0.60) | 2.58  |
| **LESS DISTRIBUTIONS FROM:**<br>|  |  |  |  |  |
| Net investment income | (0.00)<sup>(c)</sup> | (0.06) | &nbsp;&nbsp; — |  | —  |
| Net realized gains | (0.97) | (1.47) | &nbsp;&nbsp; — | (1.19) | (2.13)  |
| **Total distributions** | (0.97) | (1.53) | &nbsp;&nbsp; — | (1.19) | (2.13)  |
| **Net asset value, end of year** | $24.38 | $24.10 | &nbsp;&nbsp; $24.25 | $21.56 | $23.35  |
| Total return | 5.31% | 5.36% | &nbsp;&nbsp; 12.43% | -2.29% | 10.52%  |
| **SUPPLEMENTAL DATA AND RATIOS:**<br>|  |  |  |  |  |
| Net assets, end of year (in thousands) | $98638 | $90894 | &nbsp;&nbsp; $88436 | $94877 | $90405  |
| Ratio of expenses to average net assets | 0.90% | 1.12% | &nbsp;&nbsp; 1.17% | 1.13% | 1.07%  |
|  Ratio of net investment income (loss) to average net assets | 0.28% | 0.14% | &nbsp;&nbsp; 0.13% | (0.04)% | (0.28)%  |
| Portfolio turnover rate | 16% | 18% | &nbsp;&nbsp; 8% | 18% | 20% |

---

<sup>(a)</sup> Net investment income per share has been calculated based on average shares outstanding during the years.

<sup>(b)</sup> Realized and unrealized gains and losses per share in the caption are balancing amounts necessary to reconcile the change in net asset value per share for the years, and may not reconcile with the aggregate gains and losses in the Statement of Operations due to share transactions for the years.

<sup>(c)</sup> Amount represents less than 0.005%. 

The accompanying notes are an integral part of these financial statements.

10<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**BRIGHT ROCK QUALITY LARGE CAP FUND** 

**FINANCIAL HIGHLIGHTS** 

**INSTITUTIONAL CLASS** 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Year Ended February 28,** | **Year Ended February 28,** | **Year Ended** <br>**February 29,** <br>**2024** | **Year Ended February 28,**  | **Year Ended February 28,**  |
|  | **2026** | **2025** | **Year Ended** <br>**February 29,** <br>**2024** | **2023** | **2022**  |
| **PER SHARE DATA:**<br>|  |  |  |  |  |
| Net asset value, beginning of year | $22.59 | $22.27 | $18.04 | $21.08 | $19.87  |
| **INVESTMENT OPERATIONS:**<br>|  |  |  |  |  |
| Net investment income<sup>(a)</sup> | 0.21 | 0.15 | 0.15 | 0.16 | 0.20  |
|  Net realized and unrealized gain (loss) on investments<sup>(b)</sup> | 1.86 | 2.22 | 4.68 | (0.41) | 2.94  |
| **Total from investment operations** | 2.07 | 2.37 | 4.83 | (0.25) | 3.14  |
| **LESS DISTRIBUTIONS FROM:**<br>|  |  |  |  |  |
| Net investment income | (0.20) | (0.15) | (0.14) | (0.16) | (0.23)  |
| Net realized gains | (1.54) | (1.90) | (0.46) | (2.63) | (1.70)  |
| **Total distributions** | (1.74) | (2.05) | (0.60) | (2.79) | (1.93)  |
| **Net asset value, end of year** | $22.92 | $22.59 | $22.27 | $18.04 | $21.08  |
| Total return | 9.37% | 10.63% | 27.11% | -1.01% | 15.35%  |
| **SUPPLEMENTAL DATA AND RATIOS:**<br>|  |  |  |  |  |
| Net assets, end of year (in thousands) | $438329 | $401676 | $386420 | $307065 | $320491  |
| Ratio of expenses to average net assets<sup>(c)</sup> | 0.71% | 0.85% | 0.87% | 0.88% | 0.83%  |
|  Ratio of net investment income (loss) to average net assets<sup>(c)</sup> | 0.94% | 0.66% | 0.74% | 0.79% | 0.87%  |
| Portfolio turnover rate | 46% | 31% | 27% | 40% | 30% |

---

<sup>(a)</sup> Net investment income per share has been calculated based on average shares outstanding during the years.

<sup>(b)</sup> Realized and unrealized gains and losses per share in the caption are balancing amounts necessary to reconcile the change in net asset value per share for the years, and may not reconcile with the aggregate gains and losses in the Statement of Operations due to share transactions for the years.

<sup>(c)</sup> Ratios do not include the income and expenses of the underlying funds in which the Fund invests.

The accompanying notes are an integral part of these financial statements.

11<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**BRIGHT ROCK FUNDS** 

**NOTES TO FINANCIAL STATEMENTS** 

**February 28, 2026** 

(1) ORGANIZATION

Trust for Professional Managers (the "Trust") was organized as a Delaware statutory trust under a Declaration of Trust dated May 29, 2001. The Trust is registered under the Investment Company Act of 1940, as amended (the "1940 Act"), as an open-end management investment company. The Bright Rock Funds (each, a "Fund" and together, the "Funds") are comprised of the Bright Rock Mid Cap Growth Fund (the "Mid Cap Growth Fund") and the Bright Rock Quality Large Cap Fund (the "Quality Large Cap Fund"), each representing a distinct diversified series with its own investment objective and policies within the Trust. The investment objective of both Funds is long-term capital appreciation. The Trust may issue an unlimited number of shares of beneficial interest at $0.001 par value. The assets of the Funds are segregated, and a shareholder's interest is limited to the Fund in which shares are held. Each Fund is a series of an investment company and accordingly follows the investment company accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standard Codification Topic 946 "Financial Services – Investment Companies". Each Fund has registered both Investor Class shares and Institutional Class shares. Each Fund currently offers only Institutional Class shares. The Institutional Class shares of each Fund commenced operations on May 26, 2010. Bright Rock Capital Management, LLC (the "Adviser") serves as the Funds' investment adviser.

(2) SIGNIFICANT ACCOUNTING POLICIES

The following is a summary of significant accounting policies consistently followed by the Funds in the preparation of the financial statements. These policies are in conformity with accounting principles generally accepted in the United States of America ("GAAP").

&nbsp;&nbsp;&nbsp;&nbsp;(a) *Investment Valuation.* Each equity security owned by a Fund that is listed on a securities exchange, except for securities listed on the NASDAQ
 Stock Market, LLC ("NASDAQ"), is valued at its last sale price on that exchange on the date as of which assets are valued.
 Forward currency contracts are valued at the mean between the bid and asked prices by an approved independent pricing service ("Pricing
 Service"). Commodities futures contracts and options thereon traded on a commodities exchange or board of trade are valued at the
 last sale price at the close of trading. Rights and warrants are valued at the last sale price at the close of the exchange on which the
 security is primarily traded.

If the security is listed on more than one exchange, a Fund will use the price of the exchange that the Fund generally considers to be the principal exchange on which the security is traded. Portfolio securities listed on NASDAQ will be valued at the NASDAQ Official Closing Price, which may not necessarily represent the last sale price. If there has been no sale on such exchange or on NASDAQ on such day, the security is valued at the mean between the most recent quoted bid and asked prices at the close of the exchange on such day or the security shall be valued at the latest sales price on the "composite market" for the day such security is being valued. The composite market is defined as a consolidation of the trade information provided by national securities and foreign exchanges and over-the-counter markets as published by a Pricing Service.

Money market funds, demand notes and repurchase agreements are valued at cost. If cost does not represent current market value the securities will be priced at fair value.

Redeemable securities issued by open-end, registered investment companies are valued at the NAVs of such companies for purchase and/or redemption orders placed on that day. If, on a particular day, a share of an investment company is not listed on NASDAQ, such security's fair value will be determined. All exchange- traded funds are valued at the last reported sale price on the exchange on which the security is principally traded. In the event market quotations are not readily available, such security will be valued at its fair value.

If market quotations are not readily available, a security or other asset will be valued at its fair value in accordance with Rule 2a-5 of the 1940 Act as determined under the Adviser's fair value pricing procedures, subject to oversight by the Board of Trustees. These fair value pricing procedures will also be used to price a security when corporate events, events in the securities market and/or world events cause the Adviser to believe that a security's last sale price may not reflect its actual fair market value. The intended effect of using fair value pricing procedures is to ensure that the Funds are accurately priced. The Adviser will regularly evaluate whether the Funds' fair value pricing procedures continue to be appropriate in light of the specific circumstances of the Funds and the quality of prices obtained through the application of such procedures.

12<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**BRIGHT ROCK FUNDS** 

**NOTES TO FINANCIAL STATEMENTS** 

**February 28, 2026(Continued)** 

FASB Accounting Standards Codification, "Fair Value Measurement" Topic 820 ("ASC 820"), establishes an authoritative definition of fair value and sets out a hierarchy for measuring fair value. ASC 820 requires an entity to evaluate certain factors to determine whether there has been a significant decrease in volume and level of activity for the security such that recent transactions and quoted prices may not be determinative of fair value and further analysis and adjustment may be necessary to estimate fair value. ASC 820 also requires enhanced disclosure regarding the inputs and valuation techniques used to measure fair value in those instances as well as expanded disclosure of valuation levels for major security types. These inputs are summarized in the three broad levels listed below:

Level 1 – Quoted prices in active markets for identical securities.

Level 2 – Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).

Level 3 – Significant unobservable inputs (including the Funds' own assumptions in determining the fair value of investments).

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. The following is a summary of the inputs used to value the Funds' investments carried at fair value as of February 28, 2026:

**Mid Cap Growth Fund** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1** | **Level 2** | **Level 3** | **Total**  |
| **Assets:**<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp; Common Stocks | $96835379 | $— | $— | $96835379  |
| &nbsp;&nbsp;&nbsp; Money Market Funds | 1819232 |  |  | 1819232  |
| **Total Assets** | $98654611 | $— | $— | $98654611 |

---

**Quality Large Cap Fund** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Level 1** | **Level 2** | **Level 3** | **Total**  |
| **Assets:**<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp; Common Stocks | $412258485 | $— | $— | $412258485  |
| &nbsp;&nbsp;&nbsp; Exchange Traded Funds | 22784267 |  |  | 22784267  |
| &nbsp;&nbsp;&nbsp; Money Market Funds | 9680084 |  |  | 9680084  |
| **Total Assets** | $444722836 | $— | $— | $444722836 |

---

See the Schedule of Investments for industry classifications.

For the year ended February 28, 2026, the Funds did not hold any Level 3 securities. The Funds did not hold financial derivative instruments during the year ended February 28, 2026.

&nbsp;&nbsp;&nbsp;&nbsp;(b) *Federal Income Taxes.* Each Fund complies with the requirements of Subchapter M of the Internal Revenue Code necessary to qualify as a regulated
 investment company and make the requisite distributions of income and capital gains to its shareholders sufficient to relieve each Fund
 from all or substantially all federal income taxes. Therefore, no federal income tax provision has been provided.

&nbsp;&nbsp;&nbsp;&nbsp;(c) *Distributions to Shareholders.* The Mid Cap Growth Fund will make distributions of net investment income and net capital gain, if any, at least
 annually. The Quality Large Cap Fund will make distributions of net investment income, if any, at least quarterly, and net capital gain,
 if any, at least annually. Distributions from net realized gains for book purposes may include short-term capital gains. All short-term
 capital gains are included in ordinary income for tax purposes. Distributions to shareholders are recorded on the ex-dividend date. The
 Funds may also pay a special distribution at the end of the calendar year to comply with federal tax requirements.

13<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**BRIGHT ROCK FUNDS** 

**NOTES TO FINANCIAL STATEMENTS** 

**February 28, 2026(Continued)** 

The amount of the dividends from net investment income and distributions from net realized gains are determined in accordance with federal income tax regulations, which may differ from GAAP. These differences are either temporary or permanent in nature. To the extent these differences are permanent in nature, such amounts are reclassified within the composition of net assets based on their federal tax-basis treatment.

&nbsp;&nbsp;&nbsp;&nbsp;(d) *Use of Estimates.* The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect
 the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements
 and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

&nbsp;&nbsp;&nbsp;&nbsp;(e) *Share Valuation.* The NAV per share of each Fund is calculated by dividing the sum of the value of the securities held by each Fund, plus cash or
 other assets, minus all liabilities (including estimated accrued expenses) by the total number of shares outstanding for each Fund, rounded
 to the nearest cent. The Funds' shares will not be priced on the days on which the New York Stock Exchange is closed for trading.
 The offering and redemption price per share for each Fund is equal to the Fund's NAV per share.

&nbsp;&nbsp;&nbsp;&nbsp;(f) *Allocation of Income, Expenses and Gains/Losses.* Income, expenses (other than those deemed attributable to a specific share class), and gains
 and losses of the Funds are allocated daily to each class of shares based upon the ratio of net assets represented by each class as a
 percentage of the net assets of each Fund. Expenses deemed directly attributable to a class of shares are recorded by the specific class.
 Most Fund expenses are allocated by class based on relative net assets. Expenses associated with a specific fund in the Trust are charged
 to that fund. Common Trust expenses are typically allocated evenly between the funds of the Trust, or by other equitable means.

&nbsp;&nbsp;&nbsp;&nbsp;(g) *Other.* Investment
 transactions are recorded on the trade date. The Funds determine the gain or loss from investment transactions using the best tax relief
 order. Dividend income is recognized on the ex-dividend date and interest income is recognized on an accrual basis.

&nbsp;&nbsp;&nbsp;&nbsp;(h) *Segment Reporting.* Management has evaluated the impact of adopting Accounting Standards Update ("ASU") 2023-07, Segment Reporting (Topic 280):
 Improvements to Reportable Segment Disclosures with respect to the financial statements and disclosures and determined there is no material
 impact for the Funds. Each Fund operates as a single segment entity. Each Fund's income, expenses, assets, and performance are regularly
 monitored and assessed by the Director of Research of the Adviser, who serves as the chief operating decision maker, using the information
 presented in the financial statements and financial highlights.

(3) FEDERAL TAX MATTERS

The tax character of distributions paid to shareholders for the years ended February 28, 2026 and February 28, 2025 were as follows:

---

| | | |
|:---|:---|:---|
|  | **Ordinary** <br>**Income** | **Long-Term** <br>**Capital Gain**  |
| **Mid Cap Growth Fund**<br>|  |  |
| Year ended February 28, 2026 | $18391  | $3690454  |
| Year ended February 28, 2025 | $219066 | $5280065 |

---

---

| | | |
|:---|:---|:---|
|  | **Ordinary** <br>**Income** | **Long-Term** <br>**Capital Gain**  |
| **Quality Large Cap Fund**<br>|  |  |
| Year ended February 28, 2026 | $3857840  | $26952649  |
| Year ended February 28, 2025 | $3437479  | $30653467 |

---

14<br>

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**[**TABLE OF CONTENTS**](#TOC)**

**BRIGHT ROCK FUNDS** 

**NOTES TO FINANCIAL STATEMENTS** 

**February 28, 2026(Continued)** 

As of February 28, 2026, the components of accumulated earnings (losses) on a tax basis were as follows:

---

| | | |
|:---|:---|:---|
|  | **Mid Cap** <br>**Growth Fund** | **Quality Large** <br>**Cap Fund**  |
| Cost basis of investments for federal income tax purposes | $45797143  | $273809593  |
| Gross tax unrealized appreciation | 54739595 | 173330152 |
| Gross tax unrealized depreciation | (1882127) | (2416909) |
| Net tax unrealized appreciation | 52857468 | 170913243 |
| Undistributed ordinary income | 262952 | 607411 |
| Undistributed long-term capital gain | 146657 | 4531682 |
| Total accumulated earnings | 409609 | 5139093 |
| Other accumulated loss |  | 1 |
| Total distributable earnings | $53267077  | $176052337 |

---

GAAP requires that certain components of net assets relating to permanent differences be reclassified between financial and tax reporting. These reclassifications have no effect on net assets or net asset value per share. For the fiscal year ended February 28, 2026, no such reclassifications were required.

The Funds had no material uncertain tax positions and had not recorded a liability for unrecognized tax benefits as of February 28, 2026. Also, the Funds recognized no interest and penalties related to uncertain tax benefits in fiscal year 2026. At February 28, 2026, the fiscal years 2023 through 2026 remained open to examination in the Funds' major tax jurisdictions.

(4) INVESTMENT ADVISER

The Trust has entered into an Investment Advisory Agreement (the "Agreement") with the Adviser to furnish investment advisory services to the Funds. Under the terms of the Agreement, the Trust, on behalf of the Mid Cap Growth Fund and the Quality Large Cap Fund, compensated the Adviser for its management services at the annual rates of 0.75% and 0.65%, respectively, of each Fund's average daily net assets from March 1, 2025 through June 27, 2025, and 0.45% of each Fund's average daily net assets from June 28, 2025 through February 28, 2026.

The Adviser has contractually agreed to waive its management fee and/or reimburse each Fund's other expenses at least through June 28, 2027, to the extent necessary to ensure that each Fund's total operating expenses (exclusive of front-end or contingent deferred sales loads, Rule 12b-1 fees, shareholder servicing plan fees, taxes, leverage expenses, interest, brokerage commissions, expenses incurred in connection with any merger or reorganization, dividends or interest on short positions, acquired fund fees and expenses and extraordinary expenses such as litigation) do not exceed 1.25% of each Fund's average daily net assets. Any such waiver or reimbursement is subject to later adjustment to allow the Adviser to recoup amounts waived or reimbursed within three years from the date such amount was waived or reimbursed, subject to the operating expense limitation agreement, if such reimbursements will not cause a Fund to exceed the lesser of: (1) the expense limitation in place at the time of the waiver and/or expense payment; or (2) the expense limitation in place at the time of the recoupment. The Funds did not have any previously waived expenses subject to potential recoupment at year end.

(5) RELATED PARTY TRANSACTIONS

U.S. Bancorp Fund Services, LLC (doing business as U.S. Bank Global Fund Services) ("Fund Services") serves as the Funds' administrator under a Fund Administration Servicing Agreement. Fund Services prepares various federal and state regulatory filings, reports and returns for the Funds; prepares reports and materials to be supplied to the Trustees; monitors the activities of the Funds' custodian, transfer agent and accountant; and coordinates the preparation and payment of the Funds' expenses and reviews the Funds' expense accruals. Fund Services also serves as the Funds' accountant under a Fund Accounting Servicing Agreement and transfer agent under a Transfer Agent Servicing Agreement. U.S. Bank, National Association ("U.S. Bank"), an affiliate of Fund Services, serves as each Fund's custodian. Fees and expenses incurred for the year ended February 28, 2026, and owed as of February 28, 2026, are included in the Statements of Operations and Statements of Assets and Liabilities, respectively.

15<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**BRIGHT ROCK FUNDS** 

**NOTES TO FINANCIAL STATEMENTS** 

**February 28, 2026(Continued)** 

The Funds each have a line of credit with U.S. Bank (see Note 7).

The Trust's Chief Compliance Officer ("CCO") is an employee of Fund Services. Fees and expenses incurred for the year ended February 28, 2026, and owed as of February 28, 2026, are included in the Statements of Operations and Statements of Assets and Liabilities, respectively.

(6) INVESTMENT TRANSACTIONS

The aggregate purchases and sales of securities, excluding short-term investments, by the Funds during the year ended February 28, 2026 are summarized below. There were no purchases or sales of U.S. government securities by the Funds during the year ended February 28, 2026.

---

| | | |
|:---|:---|:---|
|  | **Mid Cap** <br>**Growth Fund** | **Quality Large** <br>**Cap Fund**  |
| Purchases | $17099442 | $187743207  |
| Sales | $14434985 | $186615189 |

---

(7) LINE OF CREDIT

The Funds each have lines of credit, maturing August 1, 2026, of the lesser of 33.33% of the fair value of unencumbered net assets of a Fund or the amount of $3,500,000 and $25,000,000 for the Mid Cap Growth Fund and Quality Large Cap Fund, respectively. These unsecured lines of credit are intended to provide short-term financing, if necessary, and subject to certain restrictions, in connection with shareholder redemptions. The credit facility is with the Funds' custodian, U.S. Bank. Interest on amounts borrowed under the line of credit will be accrued at the prime rate, which was 6.75% as of February 28, 2026. The following table provides information regarding usage of the line of credit for the Quality Large Cap Fund for the year ended February 28, 2026. The Mid Cap Growth Fund did not utilize its line of credit during the year ended February 28, 2026.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Days** <br>**Utilized** | **Average** <br>**Amount of** <br>**Borrowing** | **Average** <br>**Borrowing** <br>**Rate** | **Interest** <br>**Expense\*** | **Maximum** <br>**Amount of** <br>**Borrowing** | **Date of** <br>**Maximum** <br>**Borrowing**  |
| Quality Large Cap Fund | &nbsp;&nbsp;&nbsp;&nbsp; 3 | $609000 | &nbsp;&nbsp;&nbsp; 7.50% | &nbsp;&nbsp; $381 | $609000 | 6/27/2025 |

---

\* Interest expense is reported on the Statements of Operations.

(8) BENEFICIAL OWNERSHIP

The beneficial ownership, either directly or indirectly, of more than 25% of the voting securities of a fund creates a presumption of control of the fund, under Section 2(a)(9) of the 1940 Act. At February 28, 2026, SEI Private Trust Company, for benefit of Rockland Trust Company, held 84.14% and 66.05% of shares outstanding for the Bright Rock Mid Cap Growth Fund and the Bright Rock Quality Large Cap Fund, respectively. LPL Financial, for the benefit of its customers, held 32.77% of the Bright Rock Quality Large Cap Fund's shares outstanding.

(9) SUBSEQUENT EVENT

On March 16, 2026, the Quality Large Cap Fund declared and paid a distribution of $814,990 to the shareholders of record on March 13, 2026.

The Funds have evaluated events and transactions that have occurred subsequent to February 28, 2026 and determined there were no other subsequent events that would require recognition or disclosure in financial statements.

(10) RECENT MARKET EVENTS

U.S. and international markets have experienced and may continue to experience significant periods of volatility in recent years and months due to a number of economic, political and global macro factors including uncertainty regarding inflation and central banks' interest rate changes, the possibility of a national or global recession, trade tensions, and tariffs, political events and geopolitical conflicts. As a result of continuing political tensions and armed conflicts, including the wars in Europe and the Middle East, markets have experienced increased volatility. These developments, as well as other events, could result in further market volatility and negatively affect financial asset

16<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**BRIGHT ROCK FUNDS** 

**NOTES TO FINANCIAL STATEMENTS** 

**February 28, 2026(Continued)** 

prices, the liquidity of certain securities and the normal operations of securities exchanges and other markets, despite government efforts to address market disruptions. Continuing market volatility as a result of recent market conditions or other events may have adverse effects on the performance of the Funds.

(11) NEW ACCOUNTING PRONOUCEMENT

In December 2023, the FASB issued ASU 2023-09 Income Taxes (Topic 740): Improvements to Income Tax Disclosures. Effective for annual periods beginning after December 15, 2024, the amendments require greater disaggregation of disclosures related to income taxes paid. The Funds have adopted ASU 2023-09, with no material impact on the Funds' financial statements.

17<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**BRIGHT ROCK FUNDS** 

**REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM** 

To the Shareholders of Bright Rock Funds and

Board of Trustees of Trust for Professional Managers

<u>Opinion on the Financial Statements</u>

We have audited the accompanying statements of assets and liabilities, including the schedules of investments, of Bright Rock Mid Cap Growth Fund and Bright Rock Quality Large Cap Fund ("Bright Rock Funds" or the "Funds"), each a series of Trust for Professional Managers, as of February 28, 2026, the related statements of operations for the year then ended, the statements of changes in net assets and the financial highlights for each of the two years in the period then ended, and the related notes (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the Funds as of February 28, 2026, the results of their operations for the year then ended and the changes in net assets and the financial highlights for each of the two years in the period then ended, in conformity with accounting principles generally accepted in the United States of America.

The Funds' financial statements and financial highlights for the year ended February 29, 2024, and prior, were audited by other auditors whose report dated April 25, 2024, expressed an unqualified opinion on those financial statements and financial highlights.

<u>Basis for Opinion</u>

These financial statements are the responsibility of the Funds' management. Our responsibility is to express an opinion on the Funds' financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) ("PCAOB") and are required to be independent with respect to the Funds in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our procedures included confirmation of securities owned as of February 28, 2026, by correspondence with the custodian or brokers. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

We have served as the Funds' auditor since 2024.

![](efp-23453_cc_meckstroth.jpg)

COHEN & COMPANY, LTD.

Milwaukee, Wisconsin

April 28, 2026

18<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**BRIGHT ROCK FUNDS** 

**ADDITIONAL INFORMATION (Unaudited)** 

**The below information is required disclosure for Form N-CSR**

**Item 8. Changes in and Disagreements with Accountants for Open-End Investment Companies.** 

There were no changes in or disagreements with accountants during the period covered by this report.

**Item 9. Proxy Disclosure for Open-End Investment Companies** 

There were no matters submitted to a vote of shareholders during the period covered by this report.

**Item 10. Remuneration Paid to Directors, Officers, and Others of Open-End Investment Companies.** 

Information regarding remuneration paid by the Funds is disclosed within the financial statements.

**Item 11. Statement Regarding Basis for Approval of Investment Advisory Contract.** 

Not applicable.

**Tax Information** 

For the fiscal year ended February 28, 2026, certain dividends paid by the Funds may be subject to a maximum tax rate of 20%, as provided for by the Jobs and Growth Tax Relief Reconciliation Act of 2003. The percentage of dividends declared from ordinary income designated as qualified dividend income was as follows:

---

| | |
|:---|:---|
| Quality Large Cap Fund  | 100.00%  |
| Mid Cap Growth Fund  | 100.00% |

---

For corporate shareholders, the percent of ordinary income distributions qualifying for the corporate dividends received deduction for the fiscal year ended February 28, 2026, was as follows:

---

| | |
|:---|:---|
| Quality Large Cap Fund  | 100.00%  |
| Mid Cap Growth Fund  | 100.00% |

---

For the fiscal year ended February 28, 2026, taxable ordinary income distributions that are designated as short-term capital gain distributions under Internal Revenue Code Section 871(k)(2)(c) were as follows:

---

| | |
|:---|:---|
| Quality Large Cap Fund  | 6.43%  |
| Mid Cap Growth Fund  | 0.00% |

---

19<br>

------

**[**TABLE OF CONTENTS**](#TOC)**

**Investment Adviser** 

**Bright Rock Capital Management, LLC** 

**2036 Washington Street** 

**Hanover, Massachusetts 02339** 

**Independent Registered Public Accounting Firm** 

**Cohen & Company, Ltd.** 

**342 North Water Street, Suite 830** 

**Milwaukee, Wisconsin 53202** 

**Legal Counsel** 

**Godfrey & Kahn, S.C.** 

**833 East Michigan Street, Suite 1800** 

**Milwaukee, Wisconsin 53202** 

**Custodian** 

**U.S. Bank National Association** 

**Custody Operations** 

**1555 North River Center Drive, Suite 302** 

**Milwaukee, Wisconsin 53212** 

**Transfer Agent, Fund Accountant and Fund Administrator** 

**U.S. Bancorp Fund Services, LLC** 

**615 East Michigan Street** 

**Milwaukee, Wisconsin 53202** 

**Distributor** 

**Quasar Distributors, LLC** 

**190 Middle Street, Suite 301** 

**Portland, Maine 04101** 

This report is intended for shareholders of the Funds and may not be used as sales literature unless preceded or accompanied by a current prospectus.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Financial Highlights are included within the financial statements filed under Item 7(a)
 of this Form.

**<u>Item 8. Changes in and Disagreements with Accountants for Open-End Investment Companies.</u>**

There were no changes in or disagreements with accountants during the period covered by this report.

**<u>Item 9. Proxy Disclosure for Open-End Investment Companies.</u>**

There were no matters submitted to a vote of shareholders during the period covered by this report.

**<u>Item 10. Remuneration Paid to Directors, Officers, and Others of Open-End Investment Companies.</u>**

This information is included within the financial statements filed under Item 7(a) of this Form.

**<u>Item 11. Statement Regarding Basis for Approval of Investment Advisory Contract.</u>**

Not applicable as the investment advisory contract was not approved during the past six month period.

**<u>Item 12. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.</u>**

Not applicable to open-end investment companies.

**<u>Item 13. Portfolio Managers of Closed-End Management Investment Companies.</u>**

Not applicable to open-end investment companies.

**<u>Item 14. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.</u>**

Not applicable to open-end investment companies.

**<u>Item 15. Submission of Matters to a Vote of Security Holders.</u>**

There have been no material changes to the procedures by which shareholders may recommend nominees to the registrant's board of trustees.

**<u>Item 16. Controls and Procedures.</u>**

&nbsp;&nbsp;&nbsp;&nbsp;(a) The Registrant's Principal Executive Officer and Principal Financial Officer have
 reviewed the Registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940
 (the "Act")) as of a date within 90 days of the filing of this report, as required by Rule 30a-3(b) under the Act and Rules
 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934. Based on their review, such officers have concluded that the disclosure
 controls and procedures are effective in ensuring that information required to be disclosed in this report is appropriately recorded,
 processed, summarized and reported and made known to them by others within the Registrant and by the Registrant's service provider.

&nbsp;&nbsp;&nbsp;&nbsp;(b) There were no changes in the Registrant's internal control over financial reporting
 (as defined in Rule 30a-3(d) under the Act) that occurred during the period covered by this report that have materially affected, or are
 reasonably likely to materially affect, the Registrant's internal control over financial reporting.

**<u>Item 17. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies</u>**

Not applicable to open-end investment companies.

**<u>Item 18. Recovery of Erroneously Awarded Compensation.</u>**

Not applicable

**<u>Item 19. Exhibits.</u>**

&nbsp;&nbsp;&nbsp;&nbsp;*(a)* [(1) *Any code of ethics or amendment thereto, that is the subject of the disclosure required by Item 2, to the extent that the registrant intends to satisfy Item 2 requirements through filing an exhibit.* Incorporated by reference to the Registrant's Form N-CSR filed May 9, 2011.](https://www.sec.gov/Archives/edgar/data/1141819/000089853111000215/brf-ex99codeeth.htm)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) *Any policy required by the listing standards adopted pursuant to Rule 10D-1 under the Exchange Act (17 CFR 240.10D-1) by the registered national securities exchange or registered national securities association upon which the registrant's securities are listed.* Not applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[(3) *A separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the Investment Company Act of 1940 (17 CFR 270.30a-2(a)).* Filed herewith.](brf-efp23453_ex99cert.htm)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) *Any written solicitation to purchase securities under Rule 23c-1 under the Act sent or given during the period covered by the report by or on behalf of the registrant to 10 or more persons.* Not applicable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) *Change in the registrant's independent public accountant. Provide the information called for by Item 4 of Form 8-K under the Exchange Act (17 CFR 249.308). Unless otherwise specified by Item 4, or related to and necessary for a complete understanding of information not previously disclosed, the information should relate to events occurring during the reporting period.* Not applicable.

 

&nbsp;&nbsp;&nbsp;&nbsp;*(b)* [*Certifications pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.* Furnished herewith.](brf-efp23453_ex99906cert.htm)

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

(Registrant) Trust for Professional Managers

---

| | |
|:---|:---|
| By (Signature and Title)\* | /s/ Jennifer Lima |
|  | Jennifer Lima, Principal Executive Officer |

---

Date <u>4/28/2026</u>

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

---

| | |
|:---|:---|
| By (Signature and Title)\* | /s/ Jennifer Lima |
|  | Jennifer Lima, Principal Executive Officer |

---

Date <u>4/28/2026</u>

---

| | |
|:---|:---|
| By (Signature and Title)\* | /s/ Kelly Strauss |
|  | Kelly Strauss, Principal Financial Officer |

---

Date <u>4/28/2026</u>

*\* Print the name and title of each signing officer under his or her signature.*

## Ex-99.Cert

**EX.99.CERT**

**<u>CERTIFICATIONS</u>**

I, Jennifer Lima, certify that:

&nbsp;&nbsp;&nbsp;&nbsp;1. I have reviewed this report on Form N-CSR of Trust for Professional Managers;

&nbsp;&nbsp;&nbsp;&nbsp;2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary
to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period
covered by this report;

&nbsp;&nbsp;&nbsp;&nbsp;3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material
respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required
to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

&nbsp;&nbsp;&nbsp;&nbsp;4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and
procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined
in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision,
to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others
within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under
our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements
for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions
about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report
based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the period
covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control
over financial reporting; and

&nbsp;&nbsp;&nbsp;&nbsp;5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee
of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which
are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information;
and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's
internal control over financial reporting.

---

| | | |
|:---|:---|:---|
| Date: | 4/28/2026 | /s/ Jennifer Lima |
|  |  | Jennifer Lima<br> Principal Executive Officer |

---

**<u>CERTIFICATIONS</u>**

I, Kelly Strauss, certify that:

&nbsp;&nbsp;&nbsp;&nbsp;1. I have reviewed this report on Form N-CSR of Trust for Professional Managers;

&nbsp;&nbsp;&nbsp;&nbsp;2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary
to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period
covered by this report;

&nbsp;&nbsp;&nbsp;&nbsp;3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material
respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required
to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

&nbsp;&nbsp;&nbsp;&nbsp;4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and
procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined
in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Designed such disclosure controls and procedures, or caused such disclosure
controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including
its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report
is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under
our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements
for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions
about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report
based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the period
covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control
over financial reporting; and

&nbsp;&nbsp;&nbsp;&nbsp;5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee
of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which
are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information;
and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's
internal control over financial reporting.

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| | | |
|:---|:---|:---|
| Date: | 4/28/2026 | /s/ Kelly Strauss |
|  |  | Kelly Strauss<br> Principal Financial Officer |

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## Exhibit 99.906

**EX.99.906CERT**

**<u>Certification Pursuant to Section 906 of the Sarbanes-Oxley Act</u>**

Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, each of the undersigned officers of the Trust for Professional Managers (the "Trust"), does hereby certify, to such officer's knowledge, that the report on Form N-CSR of the Trust, for the year ended February 28, 2026 fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as applicable, and that the information contained in the Form N-CSR fairly presents, in all material respects, the financial condition and results of operations of the Trust for the stated period.

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| | | |
|:---|:---|:---|
| /s/ Jennifer Lima | /s/ Jennifer Lima | /s/ Kelly Strauss |
| Jennifer Lima<br> Principal Executive Officer, Trust for Professional Managers | Jennifer Lima<br> Principal Executive Officer, Trust for Professional Managers | Kelly Strauss<br> Principal Financial Officer, Trust for Professional Managers<br>|
| Dated: | 4/28/2026 |  |

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This statement accompanies this report on Form N-CSR pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 and shall not be deemed as filed by the Trust for purposes of Section 18 of the Securities Exchange Act of 1934.