# EDGAR Filing Document

**Accession Number:** 0000810695
**File Stem:** 0000910472-25-005061
**Filing Date:** 2025-11
**Character Count:** 239450
**Document Hash:** 4bd135297d2fceb16de4ed770a7cce15
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000910472-25-005061.hdr.sgml**: 20251128

**ACCESSION NUMBER**: 0000910472-25-005061

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251128

**DATE AS OF CHANGE**: 20251128

**PERIOD START**: 20251231

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-05010
- **FILM NUMBER:** 251536508

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

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

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

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

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

## Series and Classes Contracts Data

### Rational Strategic Allocation Fund (Series ID: S000026200)

| Class ID   | Class Name                                              | Ticker Symbol   |
|:---|:---|:---|
| C000078667 | Rational Strategic Allocation Fund Class A Shares       | RHSAX           |
| C000169251 | Rational Strategic Allocation Fund Class C Shares       | RHSCX           |
| C000169252 | Rational Strategic Allocation Fund Institutional Shares | RHSIX           |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **RATIONAL EQUITY ARMOR FUND** | **RATIONAL EQUITY ARMOR FUND** | **RATIONAL EQUITY ARMOR FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** |
| **September 30, 2025** | **September 30, 2025** | **September 30, 2025** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 87.3%** |  |
|  | **ASSET MANAGEMENT - 2.8%** |  |
| 346 | Blackrock, Inc. | &nbsp;&nbsp;&nbsp; $403391 |
| 5488 | Robinhood Markets, Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 785771 |
|  |  | &nbsp;&nbsp; 1189162 |
|  | **AUTOMOTIVE - 2.0%** |  |
| 1903 | Tesla, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 846302 |
|  | **BANKING - 5.3%** |  |
| 14685 | HSBC Holdings plc - ADR | &nbsp;&nbsp;&nbsp; 1042342 |
| 3769 | JPMorgan Chase & Company | &nbsp;&nbsp;&nbsp; 1188856 |
|  |  | &nbsp;&nbsp; 2231198 |
|  | **BIOTECH & PHARMA - 4.8%** |  |
| 3675 | AbbVie, Inc. | &nbsp;&nbsp;&nbsp; 850910 |
| 904 | Eli Lilly & Company | &nbsp;&nbsp;&nbsp; 689752 |
| 4106 | Novartis A.G. - ADR | &nbsp;&nbsp;&nbsp; 526553 |
|  |  | &nbsp;&nbsp; 2067215 |
|  | **CHEMICALS - 0.7%** |  |
| 3610 | Albemarle Corporation | &nbsp;&nbsp;&nbsp; 292699 |
|  | **DATA CENTER REIT - 0.9%** |  |
| 472 | Equinix, Inc. | &nbsp;&nbsp;&nbsp; 369690 |
|  | **DIVERSIFIED INDUSTRIALS - 2.6%** |  |
| 1725 | General Electric Company | &nbsp;&nbsp;&nbsp; 518915 |
| 2672 | Honeywell International, Inc. | &nbsp;&nbsp;&nbsp; 562455 |
|  |  | &nbsp;&nbsp; 1081370 |
|  | **E-COMMERCE DISCRETIONARY - 3.7%** |  |
| 7129 | Amazon.com, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1565315 |
|  | **ELECTRIC UTILITIES - 3.0%** |  |
| 1260 | Constellation Energy Corporation | &nbsp;&nbsp;&nbsp; 414628 |
| 6275 | NextEra Energy, Inc. | &nbsp;&nbsp;&nbsp; 473700 |
| 1196 | NRG Energy, Inc. | &nbsp;&nbsp;&nbsp; 193692 |
| 1046 | Vistra Corporation | &nbsp;&nbsp;&nbsp; 204932 |
|  |  | &nbsp;&nbsp; 1286952 |

---

---

| | | |
|:---|:---|:---|
| **RATIONAL EQUITY ARMOR FUND** | **RATIONAL EQUITY ARMOR FUND** | **RATIONAL EQUITY ARMOR FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **September 30, 2025** | **September 30, 2025** | **September 30, 2025** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 87.3% (Continued)** |  |
|  | **ENTERTAINMENT CONTENT - 1.3%** |  |
| 1400 | Electronic Arts, Inc. | &nbsp;&nbsp;&nbsp; $282379 |
| 963 | Take-Two Interactive Software, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 248801 |
|  |  | &nbsp;&nbsp; 531180 |
|  | **INDUSTRIAL REITS - 0.8%** |  |
| 2980 | Prologis, Inc. | &nbsp;&nbsp;&nbsp; 341270 |
|  | **INFRASTRUCTURE REIT - 0.8%** |  |
| 1748 | American Tower Corporation | &nbsp;&nbsp;&nbsp; 336175 |
|  | **INSURANCE - 2.0%** |  |
| 1639 | Berkshire Hathaway, Inc., Class B<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 823991 |
|  | **INTERNET MEDIA & SERVICES - 10.7%** |  |
| 7203 | Alphabet, Inc., Class A | &nbsp;&nbsp;&nbsp; 1751048 |
| 2168 | Meta Platforms, Inc., Class A | &nbsp;&nbsp;&nbsp; 1592136 |
| 968 | Netflix, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1160555 |
|  |  | &nbsp;&nbsp; 4503739 |
|  | **LEISURE FACILITIES & SERVICES - 1.3%** |  |
| 1870 | McDonald's Corporation | &nbsp;&nbsp;&nbsp; 568274 |
|  | **MACHINERY - 1.1%** |  |
| 984 | Caterpillar, Inc. | &nbsp;&nbsp;&nbsp; 469516 |
|  | **MEDICAL EQUIPMENT & DEVICES - 1.1%** |  |
| 1031 | Intuitive Surgical, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 461094 |
|  | **OIL & GAS PRODUCERS - 2.4%** |  |
| 6885 | Exxon Mobil Corporation | &nbsp;&nbsp;&nbsp; 776284 |
| 3637 | Williams Companies, Inc. (The) | &nbsp;&nbsp;&nbsp; 230404 |
|  |  | &nbsp;&nbsp; 1006688 |
|  | **RETAIL - CONSUMER STAPLES - 3.6%** |  |
| 538 | Costco Wholesale Corporation | &nbsp;&nbsp;&nbsp; 497989 |
| 9879 | Walmart, Inc. | &nbsp;&nbsp;&nbsp; 1018130 |
|  |  | &nbsp;&nbsp; 1516119 |

---

---

| | | |
|:---|:---|:---|
| **RATIONAL EQUITY ARMOR FUND** | **RATIONAL EQUITY ARMOR FUND** | **RATIONAL EQUITY ARMOR FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **September 30, 2025** | **September 30, 2025** | **September 30, 2025** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 87.3% (Continued)** |  |
|  | **RETAIL - DISCRETIONARY - 1.5%** |  |
| 1619 | Home Depot, Inc. (The) | &nbsp;&nbsp;&nbsp; $656003 |
|  | **SEMICONDUCTORS - 10.8%** |  |
| 2581 | Advanced Micro Devices, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 417580 |
| 4177 | Broadcom, Inc. | &nbsp;&nbsp;&nbsp; 1378034 |
| 11288 | NVIDIA Corporation | &nbsp;&nbsp;&nbsp; 2106115 |
| 2383 | Taiwan Semiconductor Manufacturing Company Ltd. - ADR | &nbsp;&nbsp;&nbsp; 665548 |
|  |  | &nbsp;&nbsp; 4567277 |
|  | **SOFTWARE - 16.8%** |  |
| 2079 | Cadence Design Systems, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 730270 |
| 4637 | Calix, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 284573 |
| 3892 | Microsoft Corporation | &nbsp;&nbsp;&nbsp; 2015860 |
| 1768 | Oracle Corporation | &nbsp;&nbsp;&nbsp; 497232 |
| 5533 | Palantir Technologies, Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1009330 |
| 2772 | Palo Alto Networks, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 564435 |
| 1203 | ServiceNow, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1107096 |
| 1563 | Synopsys, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 771169 |
| 2044 | Varonis Systems, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 117469 |
|  |  | &nbsp;&nbsp; 7097434 |
|  | **TECHNOLOGY HARDWARE - 3.1%** |  |
| 3209 | Apple, Inc. | &nbsp;&nbsp;&nbsp; 817107 |
| 6085 | Corning, Inc. | &nbsp;&nbsp;&nbsp; 499153 |
|  |  | &nbsp;&nbsp; 1316260 |
|  | **TECHNOLOGY SERVICES - 4.1%** |  |
| 671 | Booz Allen Hamilton Holding Corporation | &nbsp;&nbsp;&nbsp; 67066 |
| 3119 | International Business Machines Corporation | &nbsp;&nbsp;&nbsp; 880058 |
| 649 | Science Applications International Corporation | &nbsp;&nbsp;&nbsp; 64491 |
| 2090 | Visa, Inc., Class A | &nbsp;&nbsp;&nbsp; 713484 |
|  |  | &nbsp;&nbsp; 1725099 |
|  | **TOTAL COMMON STOCKS (Cost $28,572,818)** | &nbsp;&nbsp; 36850022 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **RATIONAL EQUITY ARMOR FUND** | **RATIONAL EQUITY ARMOR FUND** | **RATIONAL EQUITY ARMOR FUND** | **RATIONAL EQUITY ARMOR FUND** | **RATIONAL EQUITY ARMOR FUND** | **RATIONAL EQUITY ARMOR FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** |
| **Shares** |  |  |  |  | **Fair Value** |
|  | **EXCHANGE-TRADED FUNDS — 3.4%** | **EXCHANGE-TRADED FUNDS — 3.4%** |  |  |  |
|  | **EQUITY - 3.4%** | **EQUITY - 3.4%** |  |  |  |
| 12641 | iShares Cybersecurity and Tech ETF |  |  |  | &nbsp;&nbsp;&nbsp; $661504 |
| 3703 | iShares U.S. Aerospace & Defense ETF |  |  |  | &nbsp;&nbsp;&nbsp; 774889 |
|  |  |  |  |  | &nbsp;&nbsp; 1436393 |
|  | **TOTAL EXCHANGE-TRADED FUNDS (Cost $1,133,579)** | **TOTAL EXCHANGE-TRADED FUNDS (Cost $1,133,579)** |  |  | &nbsp;&nbsp; 1436393 |
|  | **SHORT-TERM INVESTMENTS — 1.2%** | **SHORT-TERM INVESTMENTS — 1.2%** |  |  |  |
|  | **MONEY MARKET FUNDS - 1.2%** | **MONEY MARKET FUNDS - 1.2%** |  |  |  |
| 527029 | First American Treasury Obligations Fund, Class X, 4.02% (Cost $527,029)<sup>(b)</sup> |  |  |  | &nbsp;&nbsp;&nbsp; 527029 |
| **Contracts<sup>(c)</sup>** |  |  |  |  |  |
|  | **FUTURE OPTIONS PURCHASED - 8.3%** | **Expiration Date** | **Exercise Price** | **Notional Value** |  |
|  | **CALL OPTIONS PURCHASED - 8.3%** | **CALL OPTIONS PURCHASED - 8.3%** |  |  |  |
| 10 | S&P Emini Future, Maturing October 2025 | 10/17/2025 | $100 | &nbsp;&nbsp;&nbsp; $50000 | &nbsp;&nbsp;&nbsp; 3312375 |
| 95 | S&P Emini Future, Maturing October 2025 | 10/17/2025 | 6800 | &nbsp;&nbsp;&nbsp; 32300000 | &nbsp;&nbsp;&nbsp; 176938 |
|  | **TOTAL CALL OPTIONS PURCHASED** (Cost - $3,499,250) | **TOTAL CALL OPTIONS PURCHASED** (Cost - $3,499,250) | **TOTAL CALL OPTIONS PURCHASED** (Cost - $3,499,250) |  | &nbsp;&nbsp; 3489313 |
|  | **PUT OPTIONS PURCHASED - 0.0%<sup>(d)</sup>** | **PUT OPTIONS PURCHASED - 0.0%<sup>(d)</sup>** |  |  |  |
| 10 | S&P Emini Future, Maturing October 2025 | 10/17/2025 | 2100 | &nbsp;&nbsp;&nbsp; 1050000 | &nbsp;&nbsp;&nbsp; 25 |
|  | **TOTAL PUT OPTIONS PURCHASED** (Cost - $125) | **TOTAL PUT OPTIONS PURCHASED** (Cost - $125) | **TOTAL PUT OPTIONS PURCHASED** (Cost - $125) |  |  |
|  | **TOTAL FUTURE OPTIONS PURCHASED** (Cost - $3,499,375) | **TOTAL FUTURE OPTIONS PURCHASED** (Cost - $3,499,375) |  |  | 3489338 |
|  | **TOTAL INVESTMENTS - 100.2% (Cost $33,732,801)** | **TOTAL INVESTMENTS - 100.2% (Cost $33,732,801)** |  |  | &nbsp;&nbsp;&nbsp; $42302782 |
|  | **CALL OPTIONS WRITTEN - (5.5)% (Premiums received - $2,298,250)** | **CALL OPTIONS WRITTEN - (5.5)% (Premiums received - $2,298,250)** |  |  | &nbsp;&nbsp;&nbsp; (2314500) |
|  | **PUT OPTIONS WRITTEN - 0.0% (Premiums received - $32,300)** | **PUT OPTIONS WRITTEN - 0.0% (Premiums received - $32,300)** |  |  | &nbsp;&nbsp;&nbsp; (15040) |
|  | **OTHER ASSETS IN EXCESS OF LIABILITIES- 5.3%** | **OTHER ASSETS IN EXCESS OF LIABILITIES- 5.3%** |  |  | &nbsp;&nbsp; 2225147 |
|  | **NET ASSETS - 100.0%** |  |  |  | &nbsp;&nbsp; $42198389 |
|  | **WRITTEN FUTURE OPTIONS - (5.5)% (Continued)** | **Expiration Date** | **Exercise Price** | **Notional Value** | **Fair Value** |
|  | **CALL OPTIONS WRITTEN- (5.5)%** | **CALL OPTIONS WRITTEN- (5.5)%** |  |  |  |
| 10 | S&P Emini Future, Maturing October 2025 | 10/17/2025 | 2100 | &nbsp;&nbsp;&nbsp; 1050000 |  |
|  | **TOTAL CALL OPTIONS WRITTEN** (Proceeds - $2,298,250) | **TOTAL CALL OPTIONS WRITTEN** (Proceeds - $2,298,250) | **TOTAL CALL OPTIONS WRITTEN** (Proceeds - $2,298,250) |  | &nbsp;&nbsp;&nbsp;$2314500 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **RATIONAL EQUITY ARMOR FUND** | **RATIONAL EQUITY ARMOR FUND** | **RATIONAL EQUITY ARMOR FUND** | **RATIONAL EQUITY ARMOR FUND** | **RATIONAL EQUITY ARMOR FUND** | **RATIONAL EQUITY ARMOR FUND** | **RATIONAL EQUITY ARMOR FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** |
| **Contracts<sup>(c)</sup> (continued)** |  |  |  |  |  |  |
|  | **WRITTEN FUTURE OPTIONS - (5.5)% (Continued)** | **Broker/Counterparty** | **Expiration Date** | **Exercise Price** | **Notional Value** | **Fair Value** |
|  | **PUT OPTIONS WRITTEN - 0.0%<sup>(e)</sup>** | **PUT OPTIONS WRITTEN - 0.0%<sup>(e)</sup>** | **PUT OPTIONS WRITTEN - 0.0%<sup>(e)</sup>** |  |  |  |
| 10 | S&P Emini Future, Maturing October 2025 | WED | 10/17/2025 | $100 | &nbsp;&nbsp;&nbsp; $50000 | &nbsp;&nbsp;&nbsp; $25 |
| 33 | S&P Emini Future, Maturing October 2025 | WED | 10/17/2025 | 6310 | &nbsp;&nbsp;&nbsp; 10411500 | &nbsp;&nbsp;&nbsp; 15015 |
|  | **TOTAL PUT OPTIONS WRITTEN** (Proceeds - $32,300) | **TOTAL PUT OPTIONS WRITTEN** (Proceeds - $32,300) | **TOTAL PUT OPTIONS WRITTEN** (Proceeds - $32,300) | **TOTAL PUT OPTIONS WRITTEN** (Proceeds - $32,300) |  | &nbsp;&nbsp; 15040 |
|  | **TOTAL FUTURE OPTIONS WRITTEN** (Proceeds - $2,330,550) | **TOTAL FUTURE OPTIONS WRITTEN** (Proceeds - $2,330,550) | **TOTAL FUTURE OPTIONS WRITTEN** (Proceeds - $2,330,550) |  |  | &nbsp;&nbsp; 2329540 |
| **OPEN FUTURES CONTRACTS** | **OPEN FUTURES CONTRACTS** | **OPEN FUTURES CONTRACTS** |  |  |  |  |
| **Number of Contracts** | **Open Long Futures Contracts** |  |  | **Expiration** | **Notional Amount<sup>(f)</sup>** | **Value and Unrealized Depreciation** |
| 82 | CBOE Volatility Index Future | CBOE Volatility Index Future |  | 10/23/2025 | &nbsp;&nbsp;&nbsp; $1442216 | &nbsp;&nbsp;&nbsp; $(30142) |
| 30 | CBOE Volatility Index Future | CBOE Volatility Index Future |  | 11/20/2025 | &nbsp;&nbsp;&nbsp; 577476 | &nbsp;&nbsp;&nbsp; (9179) |
| 75 | CBOE Volatility Index Future | CBOE Volatility Index Future |  | 12/18/2025 | &nbsp;&nbsp;&nbsp; 1485000 | &nbsp;&nbsp;&nbsp; (19104) |
| 28 | CBOE Volatility Index Future | CBOE Volatility Index Future |  | 01/22/2026 | &nbsp;&nbsp;&nbsp; 579278 | &nbsp;&nbsp;&nbsp; (8908) |
|  | **TOTAL FUTURES CONTRACTS** | **TOTAL FUTURES CONTRACTS** | **TOTAL FUTURES CONTRACTS** | **TOTAL FUTURES CONTRACTS** |  | &nbsp;&nbsp; $(67333) |
| **OPEN FUTURES CONTRACTS** | **OPEN FUTURES CONTRACTS** | **OPEN FUTURES CONTRACTS** |  |  |  |  |
| **Number of Contracts** | **Open Short Futures Contracts** |  |  | **Expiration** | **Notional Amount<sup>(f)</sup>** | **Value and Unrealized Depreciation** |
| 31 | CME E-Mini Standard & Poor's 500 Index Future | CME E-Mini Standard & Poor's 500 Index Future |  | 12/22/2025 | &nbsp;&nbsp;&nbsp; $10445063 | &nbsp;&nbsp;&nbsp; $(56188) |
|  | **TOTAL FUTURES CONTRACTS** | **TOTAL FUTURES CONTRACTS** | **TOTAL FUTURES CONTRACTS** | **TOTAL FUTURES CONTRACTS** |  |  |

---

---

| | |
|:---|:---|
| ADR | - American Depositary Receipt |
| ETF | - Exchange-Traded Fund |
| LTD | - Limited Company |
| PLC | - Public Limited Company |
| REIT | - Real Estate Investment Trust |
| WED | - Wedbush Securities |

---

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

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

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

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

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

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

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **RATIONAL TACTICAL RETURN FUND** | **RATIONAL TACTICAL RETURN FUND** | **RATIONAL TACTICAL RETURN FUND** | **RATIONAL TACTICAL RETURN FUND** | **RATIONAL TACTICAL RETURN FUND** | **RATIONAL TACTICAL RETURN FUND** | **RATIONAL TACTICAL RETURN FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** |
| **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** |
| **Principal Amount ($)** |  |  |  | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **U.S. GOVERNMENT & AGENCIES — 66.4%** | **U.S. GOVERNMENT & AGENCIES — 66.4%** | **U.S. GOVERNMENT & AGENCIES — 66.4%** |  |  |  |
|  | **U.S. TREASURY BILLS** — **66.4%** | **U.S. TREASURY BILLS** — **66.4%** | **U.S. TREASURY BILLS** — **66.4%** |  |  |  |
| 14000000 | United States Treasury Bill<sup>(a)</sup> | United States Treasury Bill<sup>(a)</sup> |  | 3.8500 | &nbsp;&nbsp;&nbsp;01/22/26 | $13833455 |
| 20000000 | United States Treasury Bill<sup>(a)</sup> | United States Treasury Bill<sup>(a)</sup> |  | 3.7100 | &nbsp;&nbsp;&nbsp;06/11/26 | 19496966 |
|  |  |  |  |  |  | 33330421 |
|  | **TOTAL U.S. GOVERNMENT & AGENCIES (Cost $33,282,470)** | **TOTAL U.S. GOVERNMENT & AGENCIES (Cost $33,282,470)** | **TOTAL U.S. GOVERNMENT & AGENCIES (Cost $33,282,470)** |  |  | 33330421 |
| **Shares** |  |  |  |  |  |  |
|  | **SHORT-TERM INVESTMENTS — 15.0%** | **SHORT-TERM INVESTMENTS — 15.0%** | **SHORT-TERM INVESTMENTS — 15.0%** |  |  |  |
|  | **MONEY MARKET FUNDS - 15.0%** | **MONEY MARKET FUNDS - 15.0%** | **MONEY MARKET FUNDS - 15.0%** |  |  |  |
| 7540407 | First American Treasury Obligations Fund, Class X, 4.02% (Cost $7,540,407)<sup>(b)</sup> | First American Treasury Obligations Fund, Class X, 4.02% (Cost $7,540,407)<sup>(b)</sup> |  |  |  | &nbsp;&nbsp;&nbsp; 7540407 |
| **Contracts<sup>(c)</sup>** |  |  |  |  |  |  |
|  | **FUTURE OPTIONS PURCHASED - 0.3%** | **Broker/Counterparty** | **Expiration Date** | **Exercise Price** | **Notional Value** |  |
|  | **PUT OPTIONS PURCHASED - 0.3%** | **PUT OPTIONS PURCHASED - 0.3%** | **PUT OPTIONS PURCHASED - 0.3%** |  |  |  |
| 1850 | S&P Emini Future, Maturing October 2025 | ADM | 10/02/2025 | $5550 | &nbsp;&nbsp;&nbsp; $513375000 | &nbsp;&nbsp;&nbsp; 4625 |
| 600 | S&P Emini Future, Maturing October 2025 | FCS | 10/02/2025 | 5550 | &nbsp;&nbsp;&nbsp; 166500000 | &nbsp;&nbsp;&nbsp; 1500 |
| 486 | S&P Emini Future, Maturing October 2025 | ADM | 10/03/2025 | 5700 | &nbsp;&nbsp;&nbsp; 138510000 | &nbsp;&nbsp;&nbsp; 2430 |
| 162 | S&P Emini Future, Maturing October 2025 | FCS | 10/03/2025 | 5700 | &nbsp;&nbsp;&nbsp; 46170000 | &nbsp;&nbsp;&nbsp; 810 |
| 525 | S&P Emini Future, Maturing October 2025 | ADM | 10/07/2025 | 6000 | &nbsp;&nbsp;&nbsp; 157500000 | &nbsp;&nbsp;&nbsp; 15750 |
| 175 | S&P Emini Future, Maturing October 2025 | FCS | 10/07/2025 | 6000 | &nbsp;&nbsp;&nbsp; 52500000 | &nbsp;&nbsp;&nbsp; 5250 |
| 1300 | S&P Emini Future, Maturing October 2025 | ADM | 10/10/2025 | 6000 | &nbsp;&nbsp;&nbsp; 390000000 | &nbsp;&nbsp;&nbsp; 100750 |
|  | **TOTAL PUT OPTIONS PURCHASED** (Cost - $197,595) | **TOTAL PUT OPTIONS PURCHASED** (Cost - $197,595) | **TOTAL PUT OPTIONS PURCHASED** (Cost - $197,595) | **TOTAL PUT OPTIONS PURCHASED** (Cost - $197,595) |  | &nbsp;&nbsp; 131115 |
|  | **TOTAL FUTURE OPTIONS PURCHASED** (Cost - $197,595) | **TOTAL FUTURE OPTIONS PURCHASED** (Cost - $197,595) | **TOTAL FUTURE OPTIONS PURCHASED** (Cost - $197,595) |  |  | 131115 |
|  | **TOTAL INVESTMENTS - 81.7% (Cost $41,020,472)** | **TOTAL INVESTMENTS - 81.7% (Cost $41,020,472)** | **TOTAL INVESTMENTS - 81.7% (Cost $41,020,472)** |  |  | &nbsp;&nbsp;&nbsp; $41001943 |
|  | **PUT OPTIONS WRITTEN - (0.4)% (Premiums received - $297,260)** | **PUT OPTIONS WRITTEN - (0.4)% (Premiums received - $297,260)** | **PUT OPTIONS WRITTEN - (0.4)% (Premiums received - $297,260)** |  |  | &nbsp;&nbsp;&nbsp; (184240) |
|  | **OTHER ASSETS IN EXCESS OF LIABILITIES- 18.7%** | **OTHER ASSETS IN EXCESS OF LIABILITIES- 18.7%** | **OTHER ASSETS IN EXCESS OF LIABILITIES- 18.7%** |  |  | &nbsp;&nbsp; 9370595 |
|  | **NET ASSETS - 100.0%** |  |  |  |  | &nbsp;&nbsp; $50188298 |
| **Contracts<sup>(c)</sup>** |  |  |  |  |  |  |
|  | **WRITTEN FUTURE OPTIONS - (0.4)%** |  |  |  |  |  |
|  | **PUT OPTIONS WRITTEN – (0.4)%** | **Broker/Counterparty** | **Expiration Date** | **Exercise Price** | **Notional Value** |  |
| 972 | S&P Emini Future, Maturing October 2025 | ADM | 10/03/2025 | $5600 | &nbsp;&nbsp;&nbsp;$272160000 | &nbsp;&nbsp;&nbsp;$2430 |
| 324 | S&P Emini Future, Maturing October 2025 | FCS | 10/03/2025 | 5600 | &nbsp;&nbsp;&nbsp; 95580000 | &nbsp;&nbsp;&nbsp; 810 |
| 1050 | S&P Emini Future, Maturing October 2025 | ADM | 10/07/2025 | 5900 | &nbsp;&nbsp;&nbsp; 294000000 | &nbsp;&nbsp;&nbsp; 23625 |
| 350 | S&P Emini Future, Maturing October 2025 FCS | FCS | 10/07/2025 | 5900 | &nbsp;&nbsp;&nbsp; 103250000 | &nbsp;&nbsp;&nbsp; 7875 |
| 2600 | S&P Emini Future, Maturing October 2025 | ADM | 10/10/2025 | 5900 | &nbsp;&nbsp;&nbsp; 767000000 | &nbsp;&nbsp;&nbsp; 149500 |
|  | **TOTAL PUT OPTIONS WRITTEN** (Proceeds - $297,260) | **TOTAL PUT OPTIONS WRITTEN** (Proceeds - $297,260) | **TOTAL PUT OPTIONS WRITTEN** (Proceeds - $297,260) | **TOTAL PUT OPTIONS WRITTEN** (Proceeds - $297,260) |  | &nbsp;&nbsp; 184240 |
|  |  |  |  |  |  | &nbsp;&nbsp; 184240 |

---

---

| |
|:---|
| **RATIONAL TACTICAL RETURN FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **September 30, 2025** |

---

---

| | |
|:---|:---|
| ADM | ADM Investor Services, Inc. |
| FCS | StoneX Group, Inc. |

---

<sup>(a)</sup> Zero coupon bond. Rate disclosed is the current yield as of September 30, 2025. <br> <sup>(b)</sup> Rate disclosed is the seven day effective yield as of September 30, 2025. <br> <sup>(c)</sup> Each contract is equivalent to one futures contract.

To

---

| | | |
|:---|:---|:---|
| **RATIONAL DYNAMIC BRANDS FUND** | **RATIONAL DYNAMIC BRANDS FUND** | **RATIONAL DYNAMIC BRANDS FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** |
| **September 30, 2025** | **September 30, 2025** | **September 30, 2025** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 99.8%** |  |
|  | **ASSET MANAGEMENT - 16.3%** |  |
| 24600 | Apollo Global Management, Inc. | &nbsp;&nbsp;&nbsp; $3278441 |
| 18300 | Blackstone, Inc. | &nbsp;&nbsp;&nbsp; 3126555 |
| 25500 | Brookfield Corporation | &nbsp;&nbsp;&nbsp; 1748790 |
| 3500 | Charles Schwab Corporation (The) | &nbsp;&nbsp;&nbsp; 334145 |
| 23350 | KKR & Company, Inc. | &nbsp;&nbsp;&nbsp; 3034333 |
|  |  | &nbsp;&nbsp; 11522264 |
|  | **E-COMMERCE DISCRETIONARY - 10.7%** |  |
| 20895 | Amazon.com, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 4587915 |
| 1250 | MercadoLibre, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 2921175 |
|  |  | &nbsp;&nbsp; 7509090 |
|  | **INSTITUTIONAL FINANCIAL SERVICES - 1.6%** |  |
| 1450 | Goldman Sachs Group, Inc. (The) | &nbsp;&nbsp;&nbsp; 1154708 |
|  | **INTERNET MEDIA & SERVICES - 23.3%** |  |
| 11000 | Alphabet, Inc., Class A | &nbsp;&nbsp;&nbsp; 2674100 |
| 4425 | Meta Platforms, Inc., Class A | &nbsp;&nbsp;&nbsp; 3249632 |
| 2905 | Netflix, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 3482863 |
| 4775 | Spotify Technology S.A.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 3332950 |
| 37700 | Uber Technologies, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 3693468 |
|  |  | &nbsp;&nbsp; 16433013 |
|  | **LEISURE FACILITIES & SERVICES - 5.2%** |  |
| 25000 | Chipotle Mexican Grill, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 979750 |
| 16450 | Live Nation Entertainment, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 2687930 |
|  |  | &nbsp;&nbsp; 3667680 |
|  | **RETAIL - CONSUMER STAPLES - 9.9%** |  |
| 3644 | Costco Wholesale Corporation | &nbsp;&nbsp;&nbsp; 3372996 |
| 34900 | Walmart, Inc. | &nbsp;&nbsp;&nbsp; 3596794 |
|  |  | &nbsp;&nbsp; 6969790 |
|  | **RETAIL - DISCRETIONARY - 4.9%** |  |
| 24000 | TJX Companies, Inc. (The) | &nbsp;&nbsp;&nbsp; 3468960 |
|  | **SOFTWARE - 17.3%** |  |
| 5100 | Intuit, Inc. | &nbsp;&nbsp;&nbsp; 3482841 |
| 7172 | Microsoft Corporation | &nbsp;&nbsp;&nbsp; 3714737 |

---

---

| | | |
|:---|:---|:---|
| **RATIONAL DYNAMIC BRANDS FUND** | **RATIONAL DYNAMIC BRANDS FUND** | **RATIONAL DYNAMIC BRANDS FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **September 30, 2025** | **September 30, 2025** | **September 30, 2025** |
| **Shares** |  | **Fair Value** |
|  | **COMMON STOCKS — 99.8% (Continued)** |  |
|  | **SOFTWARE - 17.3% (Continued)** |  |
| 3500 | ServiceNow, Inc.<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; $3220980 |
| 12200 | Shopify, Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1813042 |
|  |  | &nbsp;&nbsp; 12231600 |
|  | **SPECIALTY FINANCE - 4.0%** |  |
| 8500 | American Express Company | &nbsp;&nbsp;&nbsp; 2823360 |
|  | **TECHNOLOGY HARDWARE - 4.7%** |  |
| 12885 | Apple, Inc. | &nbsp;&nbsp;&nbsp; 3280908 |
|  | **TECHNOLOGY SERVICES - 1.9%** |  |
| 4000 | Affirm Holdings, Inc., Class A<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 292320 |
| 3000 | Visa, Inc., Class A | &nbsp;&nbsp;&nbsp; 1024140 |
|  |  | &nbsp;&nbsp; 1316460 |
|  | **TOTAL COMMON STOCKS (Cost $47,863,304)** | &nbsp;&nbsp; 70377833 |
|  | **SHORT-TERM INVESTMENTS — 0.3%** |  |
|  | **MONEY MARKET FUNDS - 0.3%** |  |
| 237433 | First American Treasury Obligations Fund, Class X, 4.02% (Cost $237,433)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; 237433 |
|  | **TOTAL INVESTMENTS - 100.1% (Cost $48,100,737)** | &nbsp;&nbsp;&nbsp; $70615266 |
|  | **LIABILITIES IN EXCESS OF OTHER ASSETS - (0.1)%** | &nbsp;&nbsp; (52754) |
|  | **NET ASSETS - 100.0%** | &nbsp;&nbsp; $70562512 |

---

S.A. - Société Anonyme <br>

<sup>(a)</sup> Non-income producing security. <br> <sup>(b)</sup> Rate disclosed is the seven day effective yield as of September 30, 2025.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **RATIONAL STRATEGIC ALLOCATION FUND** | **RATIONAL STRATEGIC ALLOCATION FUND** | **RATIONAL STRATEGIC ALLOCATION FUND** | **RATIONAL STRATEGIC ALLOCATION FUND** | **RATIONAL STRATEGIC ALLOCATION FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** |
| **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** |
| **Shares** |  |  |  | **Fair Value** |
|  | **OPEN END FUNDS — 81.6%** |  |  |  |
|  | **ALTERNATIVE - 4.0%** |  |  |  |
| 20991 | AQR Long-Short Equity Fund, Class N |  |  | &nbsp;&nbsp;&nbsp; $406391 |
|  | **OPEN-END FUNDS - 77.6%** |  |  |  |
| 727635 | Catalyst Systematic Alpha Fund, Class I<sup>(a)</sup> |  |  | &nbsp;&nbsp;&nbsp; 7671889 |
| 24259 | Catalyst/CIFC Senior Secured Income Fund, Class I<sup>(a)</sup> |  |  | &nbsp;&nbsp;&nbsp; 223425 |
| 2697 | Rational/Pier 88 Convertible Securities Fund, Institutional Class<sup>(a)</sup> |  |  | &nbsp;&nbsp;&nbsp; 30017 |
|  |  |  |  | &nbsp;&nbsp; 7925331 |
|  | **TOTAL OPEN END FUNDS (Cost $9,060,956)** |  |  | &nbsp;&nbsp; 8331722 |
| **Principal Amount ($)** |  | **Coupon Rate (%)** | **Maturity** |  |
|  | **U.S. GOVERNMENT & AGENCIES — 3.3%** |  |  |  |
|  | **U.S. TREASURY BILLS** — **3.3%** |  |  |  |
| 350000 | United States Treasury Bill<sup>(b)</sup> | 3.6400 | &nbsp;&nbsp;&nbsp;09/03/26 | 338598 |
|  | **TOTAL U.S. GOVERNMENT & AGENCIES (Cost $338,664)** |  |  | 338598 |
| **Shares** |  |  |  |  |
|  | **SHORT-TERM INVESTMENTS — 0.3%** |  |  |  |
|  | **MONEY MARKET FUNDS - 0.3%** |  |  |  |
| 30043 | First American Treasury Obligations Fund, Class X, 4.02% (Cost $30,043)<sup>(c)</sup> |  |  | &nbsp;&nbsp;&nbsp; 30043 |
|  | **TOTAL INVESTMENTS - 85.2% (Cost $9,429,663)** |  |  | &nbsp;&nbsp;&nbsp; $8700363 |
|  | **OTHER ASSETS IN EXCESS OF LIABILITIES- 14.8%** |  |  | &nbsp;&nbsp; 1508666 |
|  | **NET ASSETS - 100.0%** |  |  | &nbsp;&nbsp; $10209029 |
| **OPEN FUTURES CONTRACTS** | **OPEN FUTURES CONTRACTS** |  |  |  |
| **Number of Contracts** | **Open Long Futures Contracts** | **Expiration** | **Notional Amount<sup>(d)</sup>** | **Value and Unrealized Appreciation** |
| 31 | CME E-Mini Standard & Poor's 500 Index Future | 12/22/2025 | &nbsp;&nbsp;&nbsp; $10445063 | &nbsp;&nbsp;&nbsp; $110215 |
|  | **TOTAL FUTURES CONTRACTS** | **TOTAL FUTURES CONTRACTS** |  |  |

---

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

<sup>(b)</sup> Zero coupon bond. Rate disclosed is the current yield as of September 30, 2025.

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **RETURN STACKED BALANCED ALLOCATION & SYSTEMATIC MACRO FUND** | **RETURN STACKED BALANCED ALLOCATION & SYSTEMATIC MACRO FUND** | **RETURN STACKED BALANCED ALLOCATION & SYSTEMATIC MACRO FUND** | **RETURN STACKED BALANCED ALLOCATION & SYSTEMATIC MACRO FUND** | **RETURN STACKED BALANCED ALLOCATION & SYSTEMATIC MACRO FUND** |
| **CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)** | **CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)** | **CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)** | **CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)** | **CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)** |
| **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** |
| **Shares** |  |  |  | **Fair Value** |
|  | **EXCHANGE-TRADED FUNDS — 50.9%** |  |  |  |
|  | **EQUITY - 50.9%** |  |  |  |
| 31201 | iShares Core S&P 500 ETF, USD Class |  |  | &nbsp;&nbsp;&nbsp; $20882829 |
|  | **TOTAL EXCHANGE-TRADED FUNDS (Cost $17,243,216)** |  |  | &nbsp;&nbsp; 20882829 |
|  | **SHORT-TERM INVESTMENTS — 30.4%** |  |  |  |
|  | **MONEY MARKET FUNDS - 30.4%** |  |  |  |
| 12441601 | First American US Treasury Money Market Fund, Class Z, 3.98% (Cost $12,441,601)<sup>(a)</sup> |  |  | &nbsp;&nbsp;&nbsp; 12441601 |
|  | **TOTAL INVESTMENTS - 81.3% (Cost $29,684,817)** |  |  | &nbsp;&nbsp;&nbsp; $33324430 |
|  | **OTHER ASSETS IN EXCESS OF LIABILITIES- 18.7%** |  |  | &nbsp;&nbsp; 7663509 |
|  | **NET ASSETS - 100.0%** |  |  | &nbsp;&nbsp; $40987939 |
| **OPEN FUTURES CONTRACTS** | **OPEN FUTURES CONTRACTS** |  |  |  |
| **Number of Contracts** | **Open Long Futures Contracts** | **Expiration** | **Notional Amount<sup>(b)</sup>** | **Value and Unrealized Appreciation (Depreciation)** |
| 96 | CBOT 10 Year US Treasury Note Future | 12/22/2025 | &nbsp;&nbsp;&nbsp; $10800000 | &nbsp;&nbsp;&nbsp; $(17188) |
| 24 | CBOT 2 Year US Treasury Note Future | 01/01/2026 | &nbsp;&nbsp;&nbsp; 5001563 | &nbsp;&nbsp;&nbsp; 5297 |
| 257 | CBOT 5 Year US Treasury Note Future | 01/02/2026 | &nbsp;&nbsp;&nbsp; 28063196 | &nbsp;&nbsp;&nbsp; 33742 |
| 25 | CBOT Corn Future<sup>(c)</sup> | 12/15/2025 | &nbsp;&nbsp;&nbsp; 519375 | &nbsp;&nbsp;&nbsp; (4925) |
| 6 | CBOT Corn Future<sup>(c)</sup> | 03/16/2026 | &nbsp;&nbsp;&nbsp; 129600 | &nbsp;&nbsp;&nbsp; (1350) |
| 28 | CBOT US Treasury Bond Future | 12/22/2025 | &nbsp;&nbsp;&nbsp; 3264625 | &nbsp;&nbsp;&nbsp; 45937 |
| 66 | CBOT Wheat Future<sup>(c)</sup> | 12/15/2025 | &nbsp;&nbsp;&nbsp; 1676400 | &nbsp;&nbsp;&nbsp; (41388) |
| 16 | CBOT Wheat Future<sup>(c)</sup> | 03/16/2026 | &nbsp;&nbsp;&nbsp; 421600 | &nbsp;&nbsp;&nbsp; (10938) |
| 61 | CME Australian Dollar Currency Future | 12/16/2025 | &nbsp;&nbsp;&nbsp; 4039420 | &nbsp;&nbsp;&nbsp; 23595 |
| 74 | CME British Pound Currency Future | 12/16/2025 | &nbsp;&nbsp;&nbsp; 6221088 | &nbsp;&nbsp;&nbsp; (60387) |
| 4 | CME E-Mini NASDAQ 100 Index Future | 12/22/2025 | &nbsp;&nbsp;&nbsp; 1992140 | &nbsp;&nbsp;&nbsp; 6325 |
| 37 | CME Euro Foreign Exchange Currency Future | 12/16/2025 | &nbsp;&nbsp;&nbsp; 5453800 | &nbsp;&nbsp;&nbsp; (5550) |
| 12 | CME Nikkei 225 Index Future | 12/12/2025 | &nbsp;&nbsp;&nbsp; 2696400 | &nbsp;&nbsp;&nbsp; 23625 |
| 5 | COMEX Gold 100 Troy Ounces Future<sup>(c)</sup> | 12/30/2025 | &nbsp;&nbsp;&nbsp; 1936600 | &nbsp;&nbsp;&nbsp; 33100 |
| 14 | COMEX Silver Future<sup>(c)</sup> | 12/30/2025 | &nbsp;&nbsp;&nbsp; 3264800 | &nbsp;&nbsp;&nbsp; 145775 |
| 89 | Eurex 5 Year Euro BOBL Future | 12/09/2025 | &nbsp;&nbsp;&nbsp; 12309333 | &nbsp;&nbsp;&nbsp; 12128 |
| 14 | Eurex EURO STOXX 50 Future | 12/22/2025 | &nbsp;&nbsp;&nbsp; 910707 | &nbsp;&nbsp;&nbsp; 18232 |
| 9 | Euronext CAC 40 Index Future | 10/20/2025 | &nbsp;&nbsp;&nbsp; 834175 | &nbsp;&nbsp;&nbsp; 2844 |
| 21 | FTSE/MIB Index Future | 12/22/2025 | &nbsp;&nbsp;&nbsp; 5238166 | &nbsp;&nbsp;&nbsp; 27272 |
| 13 | HKG Hang Seng Index Future | 10/31/2025 | &nbsp;&nbsp;&nbsp; 2247894 | &nbsp;&nbsp;&nbsp; 34977 |
| 38 | ICE Gas Oil Future<sup>(c)</sup> | 11/13/2025 | &nbsp;&nbsp;&nbsp; 2610600 | &nbsp;&nbsp;&nbsp; (9199) |
| 40 | Long Gilt Future | 12/30/2025 | &nbsp;&nbsp;&nbsp; 4886827 | &nbsp;&nbsp;&nbsp; 10064 |
| 18 | MEFF Madrid IBEX 35 Index Future | 10/20/2025 | &nbsp;&nbsp;&nbsp; 3277128 | &nbsp;&nbsp;&nbsp; 61280 |
| 9 | NYBOT CSC C Coffee Future<sup>(c)</sup> | 12/19/2025 | &nbsp;&nbsp;&nbsp; 1265119 | &nbsp;&nbsp;&nbsp; (63506) |
| 2 | NYBOT CSC C Coffee Future<sup>(c)</sup> | 03/20/2026 | &nbsp;&nbsp;&nbsp; 269213 | &nbsp;&nbsp;&nbsp; 3244 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **RETURN STACKED BALANCED ALLOCATION & SYSTEMATIC MACRO FUND** | **RETURN STACKED BALANCED ALLOCATION & SYSTEMATIC MACRO FUND** | **RETURN STACKED BALANCED ALLOCATION & SYSTEMATIC MACRO FUND** | **RETURN STACKED BALANCED ALLOCATION & SYSTEMATIC MACRO FUND** | **RETURN STACKED BALANCED ALLOCATION & SYSTEMATIC MACRO FUND** |
| **CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** |
| **OPEN FUTURES CONTRACTS (Continued)** | **OPEN FUTURES CONTRACTS (Continued)** | | | |
| **Number of Contracts** | **Open Long Futures Contracts** | **Expiration** | **Notional Amount<sup>(b)</sup>** | **Value and Unrealized Appreciation (Depreciation)** |
| 7 | NYBOT CSC Cocoa Future<sup>(c)</sup> | 12/16/2025 | &nbsp;&nbsp;&nbsp; $472430 | &nbsp;&nbsp;&nbsp; $(85580) |
| 118 | NYBOT CSC Number 11 World Sugar Future<sup>(c)</sup> | 03/02/2026 | &nbsp;&nbsp;&nbsp; 2193855 | &nbsp;&nbsp;&nbsp; 48417 |
| 6 | NYMEX Light Sweet Crude Oil Future<sup>(c)</sup> | 10/22/2025 | &nbsp;&nbsp;&nbsp; 374220 | &nbsp;&nbsp;&nbsp; (12250) |
| 18 | NYMEX NY Harbor ULSD Future<sup>(c)</sup> | 11/03/2025 | &nbsp;&nbsp;&nbsp; 1757020 | &nbsp;&nbsp;&nbsp; (2730) |
| 15 | NYMEX Reformulated Gasoline Blendstock for Oxygen Blending RBOB Future<sup>(c)</sup> | 11/03/2025 | &nbsp;&nbsp;&nbsp; 1211049 | &nbsp;&nbsp;&nbsp; 6665 |
| 20 | TSE Japanese 10 Year Bond Future | 12/16/2025 | &nbsp;&nbsp;&nbsp; 18366629 | &nbsp;&nbsp;&nbsp; (116468) |
| 43 | TSE TOPIX (Tokyo Price Index) Future | 12/12/2025 | &nbsp;&nbsp;&nbsp; 9134149 | &nbsp;&nbsp;&nbsp; 26678 |
|  | **TOTAL OPEN LONG FUTURES CONTRACTS** | **TOTAL OPEN LONG FUTURES CONTRACTS** |  | &nbsp;&nbsp; $137738 |
| **OPEN FUTURES CONTRACTS** | **OPEN FUTURES CONTRACTS** |  |  |  |
| **Number of Contracts** | **Open Short Futures Contracts** | **Expiration** | **Notional Amount<sup>(b)</sup>** | **Value and Unrealized Appreciation (Depreciation)** |
| 11 | CBOT Soybean Future<sup>(c)</sup> | 01/15/2026 | &nbsp;&nbsp;&nbsp; $561138 | &nbsp;&nbsp;&nbsp; $17050 |
| 47 | CBOT Soybean Future<sup>(c)</sup> | 11/17/2025 | &nbsp;&nbsp;&nbsp; 2354113 | &nbsp;&nbsp;&nbsp; 68887 |
| 35 | CBOT Soybean Meal Future<sup>(c)</sup> | 03/16/2026 | &nbsp;&nbsp;&nbsp; 998200 | &nbsp;&nbsp;&nbsp; 9490 |
| 148 | CBOT Soybean Meal Future<sup>(c)</sup> | 12/15/2025 | &nbsp;&nbsp;&nbsp; 4044839 | &nbsp;&nbsp;&nbsp; 67741 |
| 10 | CBOT Soybean Oil Future<sup>(c)</sup> | 01/15/2026 | &nbsp;&nbsp;&nbsp; 299040 | &nbsp;&nbsp;&nbsp; 2520 |
| 25 | CBOT Soybean Oil Future<sup>(c)</sup> | 12/15/2025 | &nbsp;&nbsp;&nbsp; 742350 | &nbsp;&nbsp;&nbsp; 7884 |
| 118 | CME Canadian Dollar Currency Future | 12/17/2025 | &nbsp;&nbsp;&nbsp; 8507800 | &nbsp;&nbsp;&nbsp; 26970 |
| 19 | CME E-mini Russell 2000 Index Future | 12/22/2025 | &nbsp;&nbsp;&nbsp; 2332725 | &nbsp;&nbsp;&nbsp; (21555) |
| 19 | CME E-Mini Standard & Poor's 500 Index Future | 12/22/2025 | &nbsp;&nbsp;&nbsp; 6401813 | &nbsp;&nbsp;&nbsp; (41726) |
| 55 | CME Japanese Yen Currency Future | 12/16/2025 | &nbsp;&nbsp;&nbsp; 4684625 | &nbsp;&nbsp;&nbsp; (6594) |
| 90 | CME New Zealand Dollar Currency Future | 12/16/2025 | &nbsp;&nbsp;&nbsp; 5233050 | &nbsp;&nbsp;&nbsp; 100680 |
| 70 | CME Swiss Franc Currency Future | 12/16/2025 | &nbsp;&nbsp;&nbsp; 11088876 | &nbsp;&nbsp;&nbsp; 14318 |
| 7 | COMEX Copper Future<sup>(c)</sup> | 12/30/2025 | &nbsp;&nbsp;&nbsp; 849888 | &nbsp;&nbsp;&nbsp; (35338) |
| 1 | COMEX Copper Future<sup>(c)</sup> | 03/30/2026 | &nbsp;&nbsp;&nbsp; 123000 | &nbsp;&nbsp;&nbsp; (5662) |
| 46 | Eurex 10 Year Euro BUND Future | 12/09/2025 | &nbsp;&nbsp;&nbsp; 6943203 | &nbsp;&nbsp;&nbsp; (20366) |
| 8 | Eurex 30 Year Euro BUXL Future | 12/09/2025 | &nbsp;&nbsp;&nbsp; 1075182 | &nbsp;&nbsp;&nbsp; (6445) |
| 803 | Euronext Milling Wheat Future<sup>(c)</sup> | 12/11/2025 | &nbsp;&nbsp;&nbsp; 8778983 | &nbsp;&nbsp;&nbsp; 127544 |
| 3 | ICE Brent Crude Oil Future<sup>(c)</sup> | 11/03/2025 | &nbsp;&nbsp;&nbsp; 198090 | &nbsp;&nbsp;&nbsp; 1180 |
| 16 | KCBT Hard Red Winter Wheat Future<sup>(c)</sup> | 03/16/2026 | &nbsp;&nbsp;&nbsp; 415000 | &nbsp;&nbsp;&nbsp; 13300 |
| 68 | KCBT Hard Red Winter Wheat Future<sup>(c)</sup> | 12/15/2025 | &nbsp;&nbsp;&nbsp; 1692350 | &nbsp;&nbsp;&nbsp; 66425 |
| 7 | Montreal Exchange 10 Year Canadian Bond Future | 12/19/2025 | &nbsp;&nbsp;&nbsp; 616062 | &nbsp;&nbsp;&nbsp; (1005) |
| 20 | Montreal Exchange S&P/TSX 60 Index Future | 12/19/2025 | &nbsp;&nbsp;&nbsp; 5096266 | &nbsp;&nbsp;&nbsp; (76829) |
| 43 | NYBOT CTN Number 2 Cotton Future<sup>(c)</sup> | 03/10/2026 | &nbsp;&nbsp;&nbsp; 1452755 | &nbsp;&nbsp;&nbsp; 16365 |
| 105 | NYBOT CTN Number 2 Cotton Future<sup>(c)</sup> | 12/09/2025 | &nbsp;&nbsp;&nbsp; 3452925 | &nbsp;&nbsp;&nbsp; 39325 |
| 40 | NYMEX Henry Hub Natural Gas Future<sup>(c)</sup> | 10/30/2025 | &nbsp;&nbsp;&nbsp; 1321200 | &nbsp;&nbsp;&nbsp; (62500) |
| 2 | NYMEX Platinum Future<sup>(c)</sup> | 01/29/2026 | &nbsp;&nbsp;&nbsp; 160570 | &nbsp;&nbsp;&nbsp; (9625) |
| 12 | SFE S&P ASX Share Price Index 200 Future | 12/19/2025 | &nbsp;&nbsp;&nbsp; 1761098 | &nbsp;&nbsp;&nbsp; 545 |
|  | **TOTAL OPEN SHORT FUTURES CONTRACTS** | **TOTAL OPEN SHORT FUTURES CONTRACTS** |  | &nbsp;&nbsp; $292579 |

---

---

| |
|:---|
| **RETURN STACKED BALANCED ALLOCATION & SYSTEMATIC MACRO FUND** |
| **CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **September 30, 2025** |

---

ETF - Exchange-Traded Fund <br>

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

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **RATIONAL/PIER 88 CONVERTIBLE SECURITIES FUND** | **RATIONAL/PIER 88 CONVERTIBLE SECURITIES FUND** | **RATIONAL/PIER 88 CONVERTIBLE SECURITIES FUND** | **RATIONAL/PIER 88 CONVERTIBLE SECURITIES FUND** | **RATIONAL/PIER 88 CONVERTIBLE SECURITIES FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** |
| **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** |
| **Shares** |  |  |  | **Fair Value** |
|  | **COMMON STOCKS — 13.9%** |  |  |  |
|  | **AEROSPACE & DEFENSE - 1.8%** |  |  |  |
| 18300 | Moog, Inc., Class A |  |  | &nbsp;&nbsp;&nbsp; $3800361 |
|  | **AUTOMOTIVE - 1.8%** |  |  |  |
| 8700 | Tesla, Inc.<sup>(a)</sup> |  |  | &nbsp;&nbsp;&nbsp; 3869064 |
|  | **DIVERSIFIED INDUSTRIALS - 1.6%** |  |  |  |
| 18300 | ITT, Inc. |  |  | &nbsp;&nbsp;&nbsp; 3271308 |
|  | **E-COMMERCE DISCRETIONARY - 1.0%** |  |  |  |
| 11900 | eBay, Inc. |  |  | &nbsp;&nbsp;&nbsp; 1082305 |
| 15100 | Etsy, Inc.<sup>(a)</sup> |  |  | &nbsp;&nbsp;&nbsp; 1002489 |
|  |  |  |  | &nbsp;&nbsp; 2084794 |
|  | **INTERNET MEDIA & SERVICES - 4.0%** |  |  |  |
| 17100 | Alphabet, Inc., Class A |  |  | &nbsp;&nbsp;&nbsp; 4157010 |
| 10500 | Expedia Group, Inc. |  |  | &nbsp;&nbsp;&nbsp; 2244375 |
| 2700 | Meta Platforms, Inc., Class A |  |  | &nbsp;&nbsp;&nbsp; 1982826 |
|  |  |  |  | &nbsp;&nbsp; 8384211 |
|  | **LEISURE FACILITIES & SERVICES - 1.4%** |  |  |  |
| 103500 | Carnival Corporation<sup>(a)</sup> |  |  | &nbsp;&nbsp;&nbsp; 2992185 |
|  | **MEDICAL EQUIPMENT & DEVICES - 0.6%** |  |  |  |
| 4400 | Insulet Corporation<sup>(a)</sup> |  |  | &nbsp;&nbsp;&nbsp; 1358412 |
|  | **SEMICONDUCTORS - 1.7%** |  |  |  |
| 3900 | Monolithic Power Systems, Inc. |  |  | &nbsp;&nbsp;&nbsp; 3590496 |
|  | **TOTAL COMMON STOCKS (Cost $28,532,629)** |  |  | &nbsp;&nbsp; 29350831 |
|  |  | **Coupon Rate (%)** | **Maturity** |  |
|  | **PREFERRED STOCKS** — **22.1%** |  |  |  |
|  | **ASSET MANAGEMENT** — **6.0%** |  |  |  |
| 29700 | Apollo Global Management, Inc. | 6.7500 | &nbsp;&nbsp;&nbsp;07/31/26 | &nbsp;&nbsp;&nbsp; 2087316 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **RATIONAL/PIER 88 CONVERTIBLE SECURITIES FUND** | **RATIONAL/PIER 88 CONVERTIBLE SECURITIES FUND** | **RATIONAL/PIER 88 CONVERTIBLE SECURITIES FUND** | **RATIONAL/PIER 88 CONVERTIBLE SECURITIES FUND** | **RATIONAL/PIER 88 CONVERTIBLE SECURITIES FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** |
| **Shares** |  | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **ASSET MANAGEMENT** — **6.0% (Continued)** |  |  |  |
| 42100 | Ares Management Corporation | 6.7500 | &nbsp;&nbsp;&nbsp;10/01/27 | &nbsp;&nbsp;&nbsp; $2091949 |
| 161600 | KKR & Company, Inc. | 6.2500 | &nbsp;&nbsp;&nbsp;03/01/28 | &nbsp;&nbsp;&nbsp; 8459760 |
|  |  |  |  | 12639025 |
|  | **BANKING** — **9.7%** |  |  |  |
| 8048 | Bank of America Corporation | 7.2500 | &nbsp;&nbsp;&nbsp;Perpetual | &nbsp;&nbsp;&nbsp; 10301440 |
| 8200 | Wells Fargo & Company - Series L | 7.5000 | &nbsp;&nbsp;&nbsp;Perpetual | &nbsp;&nbsp;&nbsp; 10121178 |
|  |  |  |  | 20422618 |
|  | **ELECTRIC UTILITIES** — **1.6%** |  |  |  |
| 74400 | NextEra Energy, Inc. | 7.2340 | &nbsp;&nbsp;&nbsp;11/01/27 | &nbsp;&nbsp;&nbsp; 3499032 |
|  | **SEMICONDUCTORS** — **1.9%** |  |  |  |
| 70100 | Microchip Technology, Inc. | 7.5000 | &nbsp;&nbsp;&nbsp;03/15/28 | &nbsp;&nbsp;&nbsp; 4138003 |
|  | **TECHNOLOGY HARDWARE** — **2.9%** |  |  |  |
| 89140 | Hewlett Packard Enterprise Company | 7.6250 | &nbsp;&nbsp;&nbsp;09/01/27 | &nbsp;&nbsp;&nbsp; 6052606 |
|  | **TOTAL PREFERRED STOCKS (Cost $44,508,745)** |  |  | 46751284  |
| **Principal Amount ($)** |  | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **CONVERTIBLE BONDS — 58.0%** |  |  |  |
|  | **AUTOMOTIVE** — **3.2%** |  |  |  |
| 6740000 | Ford Motor Company<sup>(b)</sup> | 0.0000 | &nbsp;&nbsp;&nbsp;03/15/26 | 6830990 |
|  | **E-COMMERCE DISCRETIONARY** — **3.4%** |  |  |  |
| 8040000 | Etsy, Inc. | 0.2500 | &nbsp;&nbsp;&nbsp;06/15/28 | 7091280 |
|  | **ELECTRIC UTILITIES** — **6.9%** |  |  |  |
| 6930000 | Alliant Energy Corporation | 3.8750 | &nbsp;&nbsp;&nbsp;03/15/26 | 7453215 |
| 6280000 | PPL Capital Funding, Inc. | 2.8750 | &nbsp;&nbsp;&nbsp;03/15/28 | 7168620 |
|  |  |  |  | 14621835 |
|  | **GAS & WATER UTILITIES** — **3.1%** |  |  |  |
| 6510000 | American Water Capital Corporation | 3.6250 | &nbsp;&nbsp;&nbsp;06/15/26 | 6519114 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **RATIONAL/PIER 88 CONVERTIBLE SECURITIES FUND** | **RATIONAL/PIER 88 CONVERTIBLE SECURITIES FUND** | **RATIONAL/PIER 88 CONVERTIBLE SECURITIES FUND** | **RATIONAL/PIER 88 CONVERTIBLE SECURITIES FUND** | **RATIONAL/PIER 88 CONVERTIBLE SECURITIES FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** |
| **Principal Amount ($)** |  | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **CONVERTIBLE BONDS — 58.0% (Continued)** |  |  |  |
|  | **HOME CONSTRUCTION** — **3.4%** |  |  |  |
| 7022000 | Meritage Homes Corporation | 1.7500 | &nbsp;&nbsp;&nbsp;05/15/28 | $7186751 |
|  | **INSTITUTIONAL FINANCIAL SERVICES** — **0.5%** |  |  |  |
| 800000 | Coinbase Global, Inc. | 0.2500 | &nbsp;&nbsp;&nbsp;04/01/30 | 1004400 |
|  | **INTERNET MEDIA & SERVICES** — **5.1%** |  |  |  |
| 7339000 | Uber Technologies, Inc. | 0.8750 | &nbsp;&nbsp;&nbsp;12/01/28 | 10788330 |
|  | **LEISURE FACILITIES & SERVICES** — **2.5%** |  |  |  |
| 5780000 | DraftKings, Inc.<sup>(b)</sup> | 0.0000 | &nbsp;&nbsp;&nbsp;03/15/28 | 5187550 |
|  | **REAL ESTATE INVESTMENT TRUSTS** — **14.7%** |  |  |  |
| 7959000 | Digital Realty Trust, L.P.<sup>(c)</sup> | 1.8750 | &nbsp;&nbsp;&nbsp;11/15/29 | 8356950 |
| 6350000 | Kite Realty Group, L.P.<sup>(c)</sup> | 0.7500 | &nbsp;&nbsp;&nbsp;04/01/27 | 6452168 |
| 6310000 | Ventas Realty, L.P. | 3.7500 | &nbsp;&nbsp;&nbsp;06/01/26 | 8149365 |
| 4360000 | Welltower OP, LLC<sup>(c)</sup> | 2.7500 | &nbsp;&nbsp;&nbsp;05/15/28 | 8157560 |
|  |  |  |  | 31116043 |
|  | **SEMICONDUCTORS** — **4.3%** |  |  |  |
| 9952000 | ON Semiconductor Corporation | 0.5000 | &nbsp;&nbsp;&nbsp;03/01/29 | 9182423 |
|  | **SOFTWARE** — **4.1%** |  |  |  |
| 2320000 | Nutanix, Inc.<sup>(c)</sup> | 0.5000 | &nbsp;&nbsp;&nbsp;12/15/29 | 2611629 |
| 4032000 | Okta, Inc. | 0.3750 | &nbsp;&nbsp;&nbsp;06/15/26 | 3912953 |
| 2211000 | PROS Holdings, Inc. | 2.2500 | &nbsp;&nbsp;&nbsp;09/15/27 | 2178941 |
|  |  |  |  | 8703523 |
|  | **TECHNOLOGY SERVICES** — **6.8%** |  |  |  |
| 9457000 | Global Payments, Inc. | 1.5000 | &nbsp;&nbsp;&nbsp;03/01/31 | 8655565 |
| 5746000 | Shift4 Payments, Inc. | 0.5000 | &nbsp;&nbsp;&nbsp;08/01/27 | 5654538 |
|  |  |  |  | 14310103 |
|  | **TOTAL CONVERTIBLE BONDS (Cost $116,681,208)** |  |  | 122542342 |

---

---

| | | |
|:---|:---|:---|
| **RATIONAL/PIER 88 CONVERTIBLE SECURITIES FUND** | **RATIONAL/PIER 88 CONVERTIBLE SECURITIES FUND** | **RATIONAL/PIER 88 CONVERTIBLE SECURITIES FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **September 30, 2025** | **September 30, 2025** | **September 30, 2025** |
| **Shares** |  | **Fair Value** |
|  | **SHORT-TERM INVESTMENTS — 4.9%** |  |
|  | **MONEY MARKET FUNDS - 4.9%** |  |
| 10436637 | First American Treasury Obligations Fund, Class X, 4.02% (Cost $10,436,637)<sup>(d)</sup> | &nbsp;&nbsp;&nbsp; $10436637 |
|  | **TOTAL INVESTMENTS - 98.9% (Cost $200,159,219)** | &nbsp;&nbsp;&nbsp; $209081094 |
|  | **OTHER ASSETS IN EXCESS OF LIABILITIES- 1.1%** | &nbsp;&nbsp; 2365105 |
|  | **NET ASSETS - 100.0%** | &nbsp;&nbsp; $211446199 |

---

---

| | |
|:---|:---|
| LLC | - Limited Liability Company |
| LP | - Limited Partnership |
| PLC | - Public Limited Company |
| REIT | - Real Estate Investment Trust |

---

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

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

<sup>(c)</sup> Security exempt from registration under Rule 144A or Section 4(2) of the Securities Act of 1933. The security may be resold in transactions exempt from registration, normally to qualified institutional buyers. As of September 30, 2025 the total market value of 144A securities is $25,578,307 or 12.1% of net assets.

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** | **SCHEDULE OF INVESTMENTS (Unaudited)** |
| **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** |
| **Shares** |  |  | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **PREFERRED STOCKS** — **0.8%** | **PREFERRED STOCKS** — **0.8%** |  |  |  |
|  | **ASSET MANAGEMENT** — **0.8%** | **ASSET MANAGEMENT** — **0.8%** |  |  |  |
| 30 | Eaton Vance Ltd. Duration Income Fund Series A<sup>(a)</sup> |  | 6.5500 | &nbsp;&nbsp;&nbsp;Perpetual | &nbsp;&nbsp;&nbsp; $645000 |
| 12 | Eaton Vance Ltd. Duration Income Fund Series B<sup>(a)</sup> |  | 6.5500 | &nbsp;&nbsp;&nbsp;Perpetual | &nbsp;&nbsp;&nbsp; 258000 |
| 61 | Eaton Vance Ltd. Duration Income Fund Series C<sup>(a)</sup> |  | 6.5500 | &nbsp;&nbsp;&nbsp;Perpetual | &nbsp;&nbsp;&nbsp; 1311500 |
| 29 | Eaton Vance Ltd. Duration Income Fund Series D<sup>(a)</sup> |  | 6.5500 | &nbsp;&nbsp;&nbsp;Perpetual | &nbsp;&nbsp;&nbsp; 623500 |
| 24 | Eaton Vance Ltd. Duration Income Fund Series E<sup>(a)</sup> |  | 6.5800 | &nbsp;&nbsp;&nbsp;Perpetual | &nbsp;&nbsp;&nbsp; 516000 |
| 88 | Eaton Vance Senior Floating-Rate Trust Series A<sup>(a)</sup> |  | 6.5500 | &nbsp;&nbsp;&nbsp;Perpetual | &nbsp;&nbsp;&nbsp; 1892000 |
| 46 | Eaton Vance Senior Floating-Rate Trust Series B<sup>(a)</sup> |  | 6.5500 | &nbsp;&nbsp;&nbsp;Perpetual | &nbsp;&nbsp;&nbsp; 989000 |
| 136 | Eaton Vance Senior Floating-Rate Trust Series C<sup>(a)</sup> |  | 6.8700 | &nbsp;&nbsp;&nbsp;Perpetual | &nbsp;&nbsp;&nbsp; 2924000 |
| 18 | Eaton Vance Senior Floating-Rate Trust Series D |  | 6.5200 | &nbsp;&nbsp;&nbsp;Perpetual | &nbsp;&nbsp;&nbsp; 387000 |
|  |  |  |  |  | 9546000 |
|  | **TOTAL PREFERRED STOCKS (Cost $9,552,875)** | **TOTAL PREFERRED STOCKS (Cost $9,552,875)** |  |  | 9546000 |
| **Principal Amount ($)** |  | **Spread** |  |  |  |
|  | **ASSET BACKED SECURITIES — 79.0%** | **ASSET BACKED SECURITIES — 79.0%** |  |  |  |
|  | **AGENCY CMBS** — **0.1%** | **AGENCY CMBS** — **0.1%** |  |  |  |
| 1727556 | FREMF Mortgage Trust Series 2017-KF41<sup>(b),(c)</sup> | SOFR30A + 2.614% | 6.7200 | &nbsp;&nbsp;&nbsp;11/25/25 | 1656243 |
|  | **AGENCY MORTGAGE BACKED SECURITIES** — **0.2%** | **AGENCY MORTGAGE BACKED SECURITIES** — **0.2%** |  |  |  |
| 121123 | Fannie Mae Grantor Trust Series 1999-T2 A2<sup>(d)</sup> |  | 4.4720 | &nbsp;&nbsp;&nbsp;01/19/39 | 110054 |
| 206002 | Fannie Mae Interest Strip Series 362 2<sup>(e)</sup> |  | 4.5000 | &nbsp;&nbsp;&nbsp;08/25/35 | 24998 |
| 557750 | Fannie Mae REMIC Trust Series 2002-W6 2A<sup>(d)</sup> |  | 7.5000 | &nbsp;&nbsp;&nbsp;06/25/42 | 561685 |
| 155838 | Fannie Mae REMICS Series 2010-55 SH<sup>(c),(e)</sup> | -(SOFR30A + 0.114%) + 6.500% | 2.0290 | &nbsp;&nbsp;&nbsp;05/25/40 | 3418 |
| 252135 | Fannie Mae REMICS Series 2018-95 SA<sup>(c),(e)</sup> | -(SOFR30A + 0.114%) + 6.150% | 1.6790 | &nbsp;&nbsp;&nbsp;01/25/49 | 24806 |
| 228809 | Fannie Mae Trust Series 2004-W1 3A<sup>(d)</sup> |  | 5.2390 | &nbsp;&nbsp;&nbsp;01/25/43 | 226823 |
| 227223 | Freddie Mac REMICS Series 3753 SB<sup>(c),(e)</sup> | -(SOFR30A + 0.114%) + 6.000% | 1.5130 | &nbsp;&nbsp;&nbsp;11/15/40 | 22441 |
| 220946 | Freddie Mac Strips Series 365 257<sup>(d),(e)</sup> |  | 4.5000 | &nbsp;&nbsp;&nbsp;05/15/49 | 41212 |
| 28302315 | Ginnie Mae Strip Series 3 23<sup>(e)</sup> |  | 1.4000 | &nbsp;&nbsp;&nbsp;09/16/45 | 1563137 |
| 106610 | Government National Mortgage Association Series 2003-12 S<sup>(c),(e)</sup> | -(TSFR1M + 0.114%) + 7.550% | 3.3000 | &nbsp;&nbsp;&nbsp;02/20/33 | 9789 |
| 103410 | Government National Mortgage Association Series 2011-71 SG<sup>(c),(e)</sup> | -(TSFR1M + 0.114%) + 5.400% | 1.1500 | &nbsp;&nbsp;&nbsp;05/20/41 | 10306 |
| 124663 | Government National Mortgage Association Series 2011-89 SA<sup>(c),(e)</sup> | -(TSFR1M + 0.114%) + 5.450% | 1.2000 | &nbsp;&nbsp;&nbsp;06/20/41 | 12221 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** |
| **Principal Amount ($)** |  | **Spread** | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **ASSET BACKED SECURITIES — 79.0% (Continued)** | **ASSET BACKED SECURITIES — 79.0% (Continued)** |  |  |  |
|  | **AGENCY MORTGAGE BACKED SECURITIES** — **0.2% (Continued)** | **AGENCY MORTGAGE BACKED SECURITIES** — **0.2% (Continued)** |  |  |  |
| 1197601 | Government National Mortgage Association Series 2013-43 IO<sup>(d),(e)</sup> |  | 0.0230 | &nbsp;&nbsp;&nbsp;08/16/48 | $250 |
|  |  |  |  |  | 2611140 |
|  | **AUTO LOAN** — **0.1%** | **AUTO LOAN** — **0.1%** |  |  |  |
| 1630255 | CAL Receivables, LLC Series 2022-1 B<sup>(b),(c)</sup> | SOFR30A + 4.350% | 8.7220 | &nbsp;&nbsp;&nbsp;10/15/26 | 1629434 |
|  | **CDO** — **1.5%** | **CDO** — **1.5%** |  |  |  |
| 2800000 | Attentus CDO III Ltd. Series 3A D<sup>(a),(b),(c)</sup> | TSFR3M + 1.912% | 6.2410 | &nbsp;&nbsp;&nbsp;10/11/42 | 595204 |
| 2403950 | Kodiak CDO II Ltd. Series 2A B1<sup>(a),(b),(c)</sup> | TSFR3M + 1.162% | 5.4030 | &nbsp;&nbsp;&nbsp;11/07/42 | 1621532 |
| 2967458 | Nomura CRE CDO Ltd. Series 2007-2A D<sup>(b),(c)</sup> | TSFR3M + 0.712% | 4.9266 | &nbsp;&nbsp;&nbsp;05/21/42 |  |
| 7912461 | Taberna Preferred Funding I Ltd. Series 1A A2<sup>(a),(b),(c)</sup> | TSFR3M + 0.962% | 5.2470 | &nbsp;&nbsp;&nbsp;07/05/35 | 5872209 |
| 4000000 | Taberna Preferred Funding I Ltd. Series 1A B2<sup>(a),(b),(c)</sup> | TSFR3M + 1.362% | 5.6470 | &nbsp;&nbsp;&nbsp;07/05/35 | 2091796 |
| 7250000 | Taberna Preferred Funding II Ltd. Series 2005-2A A2<sup>(a),(b),(c)</sup> | TSFR3M + 0.912% | 5.2330 | &nbsp;&nbsp;&nbsp;11/05/35 | 5137379 |
| 5950000 | Taberna Preferred Funding IV Ltd. Series 4A B1<sup>(a),(b),(c)</sup> | TSFR3M + 1.062% | 5.3200 | &nbsp;&nbsp;&nbsp;05/05/36 | 868069 |
| 4622600 | Taberna Preferred Funding V Ltd. Series 5A A1B<sup>(a),(b),(c)</sup> | TSFR3M + 0.762% | 5.0200 | &nbsp;&nbsp;&nbsp;08/05/36 | 2323203 |
| 350084 | Wachovia Repackaged Asset Participating Securities Series 2003-1A A<sup>(b),(c)</sup> | PRIME + 0.550% | 5.8680 | &nbsp;&nbsp;&nbsp;02/08/35 | 280068 |
| 535297 | Wachovia Repackaged Asset Participating Securities Series 2003-1A B<sup>(b),(c)</sup> | PRIME + 0.550% | 5.8680 | &nbsp;&nbsp;&nbsp;02/08/35 | 376046 |
|  |  |  |  |  | 19165506 |
|  | **COLLATERALIZED MORTGAGE OBLIGATIONS** — **0.6%** | **COLLATERALIZED MORTGAGE OBLIGATIONS** — **0.6%** |  |  |  |
| 562833 | Banc of America Funding Trust Series 2016-R2 1A2<sup>(b),(d)</sup> |  | 8.4400 | &nbsp;&nbsp;&nbsp;05/01/33 | 590725 |
| 1200774 | BCAP, LLC Trust Series 2011-RR5-I 6A2<sup>(b),(d)</sup> |  | 4.7820 | &nbsp;&nbsp;&nbsp;02/26/36 | 1119883 |
| 2101488 | IndyMac INDX Mortgage Loan Trust Series 2004-AR3 AX2<sup>(d)</sup> |  | 4.5780 | &nbsp;&nbsp;&nbsp;07/25/34 | 1972189 |
| 474787 | JP Morgan Alternative Loan Trust Series 2007-A1 3A1<sup>(d)</sup> |  | 4.1570 | &nbsp;&nbsp;&nbsp;03/25/37 | 412638 |
| 587419 | JP Morgan Mortgage Trust Series 2005-A4 B1<sup>(d)</sup> |  | 5.6320 | &nbsp;&nbsp;&nbsp;07/25/35 | 566637 |
| 30298 | MortgageIT Trust Series 2005-3 B2<sup>(c)</sup> | TSFR1M + 2.664% | 6.8220 | &nbsp;&nbsp;&nbsp;08/25/35 | 34417 |
| 200544 | Nomura Asset Acceptance Corp Alternative Loan Series 1 1A6<sup>(f)</sup> |  | 6.3200 | &nbsp;&nbsp;&nbsp;03/25/47 | 189578 |
| 269013 | Nomura Asset Acceptance Corp Alternative Loan Series 2007-1 1A3<sup>(f)</sup> |  | 6.4570 | &nbsp;&nbsp;&nbsp;03/25/47 | 254273 |
| 785841 | Opteum Mortgage Acceptance Corporation Asset Backed Series 1 M9<sup>(c)</sup> | TSFR1M + 2.889% | 7.0470 | &nbsp;&nbsp;&nbsp;02/25/35 | 919521 |
| 1005783 | WaMu Mortgage Pass-Through Certificates Series Series 2005-AR9 A1A<sup>(c)</sup> | TSFR1M + 0.754% | 4.9120 | &nbsp;&nbsp;&nbsp;07/25/45 | 976951 |
|  |  |  |  |  | 7036812 |
|  | **HOME EQUITY** — **0.4%** | **HOME EQUITY** — **0.4%** |  |  |  |
| 312689 | ACE Securities Corp Home Equity Loan Trust Series Series HE3 M3<sup>(c)</sup> | TSFR1M + 5.379% | 9.5370 | &nbsp;&nbsp;&nbsp;10/25/32 | 557992 |
| 132957 | ACE Securities Corp Home Equity Loan Trust Series Series OP1 M1<sup>(c)</sup> | TSFR1M + 1.164% | 5.3220 | &nbsp;&nbsp;&nbsp;12/25/33 | 133438 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** |
| **Principal Amount ($)** |  | **Spread** | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **ASSET BACKED SECURITIES — 79.0% (Continued)** | **ASSET BACKED SECURITIES — 79.0% (Continued)** |  |  |  |
|  | **HOME EQUITY** — **0.4% (Continued)** | **HOME EQUITY** — **0.4% (Continued)** |  |  |  |
| 692700 | AFC Trust Series 2000-2 1A<sup>(c)</sup> | US0001M + 0.790% | 5.2270 | &nbsp;&nbsp;&nbsp;06/25/30 | $663458 |
| 696535 | Ameriquest Mortgage Securities, Inc. Asset-Backed Series 2003 11 M6<sup>(c)</sup> | TSFR1M + 5.739% | 4.3460 | &nbsp;&nbsp;&nbsp;11/25/33 | 674350 |
| 667059 | Bayview Financial Mortgage Pass-Through Trust Series 2004-D B2<sup>(c)</sup> | US0001M + 5.250% | 9.5300 | &nbsp;&nbsp;&nbsp;08/28/44 | 707481 |
| 145813 | Bear Stearns Asset Backed Securities I Trust Series 2004-HE7 M1<sup>(c)</sup> | US0001M + 0.900% | 5.1720 | &nbsp;&nbsp;&nbsp;08/25/34 | 142634 |
| 747840 | CIT Home Equity Loan Trust Series 2002-1 AF7<sup>(f)</sup> |  | 6.1100 | &nbsp;&nbsp;&nbsp;02/25/33 | 746566 |
| 59900 | CWHEQ Revolving Home Equity Loan Trust Series 2006-I 1A<sup>(c)</sup> | TSFR1M + 0.140% | 4.4050 | &nbsp;&nbsp;&nbsp;01/15/37 | 57668 |
| 218300 | CWHEQ Revolving Home Equity Loan Trust Series Series C 2A<sup>(c)</sup> | TSFR1M + 0.294% | 4.4450 | &nbsp;&nbsp;&nbsp;07/15/35 | 205692 |
| 397403 | Delta Funding Home Equity Loan Trust Series 1999-3 A1F<sup>(f)</sup> |  | 7.9620 | &nbsp;&nbsp;&nbsp;09/15/29 | 376761 |
| 162654 | GMACM Home Equity Loan Trust Series 2005-HE3 A3<sup>(c)</sup> | TSFR1M + 0.614% | 4.7720 | &nbsp;&nbsp;&nbsp;02/25/36 | 159411 |
| 601445 | Mastr Asset Backed Securities Trust Series 2005-NC1 M1<sup>(c)</sup> | TSFR1M + 0.834% | 4.9920 | &nbsp;&nbsp;&nbsp;12/25/34 | 558792 |
| 253263 | Terwin Mortgage Trust Series 2004-1HE M1<sup>(b),(c)</sup> | TSFR1M + 1.239% | 5.3970 | &nbsp;&nbsp;&nbsp;02/25/34 | 237506 |
|  |  |  |  |  | 5221749 |
|  | **NON AGENCY CMBS** — **35.4%** | **NON AGENCY CMBS** — **35.4%** |  |  |  |
| 12868174 | BAMLL Re-REMIC Trust Series 2016-GG10 AJA<sup>(b),(d)</sup> |  | 5.8200 | &nbsp;&nbsp;&nbsp;08/10/45 | 2058908 |
| 226350 | Banc of America Commercial Mortgage Trust Series 2006-4 C<sup>(d)</sup> |  | 5.7540 | &nbsp;&nbsp;&nbsp;07/10/46 | 220363 |
| 159150 | Bayview Commercial Asset Trust Series 2005-2A A2<sup>(b),(c)</sup> | TSFR1M + 0.639% | 4.7970 | &nbsp;&nbsp;&nbsp;08/25/35 | 154078 |
| 79575 | Bayview Commercial Asset Trust Series 2005-2A M1<sup>(b),(c)</sup> | TSFR1M + 0.759% | 4.9170 | &nbsp;&nbsp;&nbsp;08/25/35 | 79078 |
| 162133 | Bayview Commercial Asset Trust Series 2005-2A B1<sup>(b),(c)</sup> | TSFR1M + 1.839% | 5.9970 | &nbsp;&nbsp;&nbsp;08/25/35 | 169706 |
| 294386 | Bayview Commercial Asset Trust Series 2005-3A A1<sup>(b),(c)</sup> | US0001M + 0.480% | 4.9170 | &nbsp;&nbsp;&nbsp;11/25/35 | 284533 |
| 160992 | Bayview Commercial Asset Trust Series 2005-3A M5<sup>(b),(c)</sup> | TSFR1M + 1.074% | 5.3970 | &nbsp;&nbsp;&nbsp;11/25/35 | 165701 |
| 195491 | Bayview Commercial Asset Trust Series 2005-3A B1<sup>(b),(c)</sup> | TSFR1M + 1.764% | 6.0870 | &nbsp;&nbsp;&nbsp;11/25/35 | 224550 |
| 944468 | Bayview Commercial Asset Trust Series 2005-3A B2<sup>(b),(c)</sup> | TSFR1M + 2.559% | 6.8820 | &nbsp;&nbsp;&nbsp;11/25/35 | 1056043 |
| 530830 | Bayview Commercial Asset Trust Series 2005-3A B3<sup>(b),(c)</sup> | TSFR1M + 4.614% | 8.9370 | &nbsp;&nbsp;&nbsp;11/25/35 | 602834 |
| 303374 | Bayview Commercial Asset Trust Series 2006-1A M3<sup>(b),(c)</sup> | TSFR1M + 0.744% | 4.9020 | &nbsp;&nbsp;&nbsp;04/25/36 | 280390 |
| 463252 | Bayview Commercial Asset Trust Series 2006-1A M5<sup>(b),(c)</sup> | US0001M + 0.840% | 5.1120 | &nbsp;&nbsp;&nbsp;04/25/36 | 428559 |
| 494994 | Bayview Commercial Asset Trust Series 2006-1A M6<sup>(b),(c)</sup> | TSFR1M + 1.074% | 5.2320 | &nbsp;&nbsp;&nbsp;04/25/36 | 458444 |
| 550420 | Bayview Commercial Asset Trust Series 2006-1A B1<sup>(b),(c)</sup> | TSFR1M + 1.689% | 5.8470 | &nbsp;&nbsp;&nbsp;04/25/36 | 519193 |
| 82153 | Bayview Commercial Asset Trust Series 2006-2A B1<sup>(b),(c)</sup> | TSFR1M + 1.419% | 5.5770 | &nbsp;&nbsp;&nbsp;07/25/36 | 78400 |
| 45279 | Bayview Commercial Asset Trust Series 2006-2A B2<sup>(b),(c)</sup> | TSFR1M + 2.319% | 6.4770 | &nbsp;&nbsp;&nbsp;07/25/36 | 767205 |
| 133885 | Bayview Commercial Asset Trust Series 2006-4<sup>(b),(c)</sup> | TSFR1M + 0.459% | 4.6170 | &nbsp;&nbsp;&nbsp;12/25/36 | 129234 |
| 496393 | Bayview Commercial Asset Trust Series 2006-SP2 M5<sup>(b),(c)</sup> | TSFR1M + 0.849% | 5.0070 | &nbsp;&nbsp;&nbsp;01/25/37 | 463724 |
| 581377 | Bayview Commercial Asset Trust Series 2006-SP2 M6<sup>(b),(c)</sup> | TSFR1M + 0.954% | 5.1120 | &nbsp;&nbsp;&nbsp;01/25/37 | 574539 |
| 1719290 | Bayview Commercial Asset Trust Series 2007-2A M1<sup>(b),(c)</sup> | TSFR1M + 0.669% | 4.8270 | &nbsp;&nbsp;&nbsp;07/25/37 | 1663127 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** |
| **Principal Amount ($)** |  | **Spread** | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **ASSET BACKED SECURITIES — 79.0% (Continued)** | **ASSET BACKED SECURITIES — 79.0% (Continued)** |  |  |  |
|  | **NON AGENCY CMBS** — **35.4% (Continued)** | **NON AGENCY CMBS** — **35.4% (Continued)** |  |  |  |
| 1185151 | Bayview Commercial Asset Trust Series 2007-2A M2<sup>(b),(c)</sup> | TSFR1M + 0.729% | 4.8870 | &nbsp;&nbsp;&nbsp;07/25/37 | $1148325 |
| 994012 | Bayview Commercial Asset Trust Series 2007-3 M5<sup>(b),(c)</sup> | TSFR1M + 1.014% | 5.1720 | &nbsp;&nbsp;&nbsp;07/25/37 | 1128450 |
| 5743232 | BB-UBS Trust Series 2012-TFT B<sup>(b),(d)</sup> |  | 3.6780 | &nbsp;&nbsp;&nbsp;06/05/30 | 5647985 |
| 123480 | Bear Stearns Asset Backed Securities Trust Series 2003-3 M1<sup>(c)</sup> | TSFR1M + 1.344% | 5.5020 | &nbsp;&nbsp;&nbsp;06/25/43 | 128782 |
| 192604 | Bear Stearns Commercial Mortgage Securities Trust Series 2007-T26 AJ<sup>(d)</sup> |  | 5.5660 | &nbsp;&nbsp;&nbsp;01/12/45 | 190804 |
| 878000 | BWAY Mortgage Trust Series 2013-1515 C<sup>(b)</sup> |  | 3.4460 | &nbsp;&nbsp;&nbsp;03/10/33 | 810428 |
| 3064623 | BXP Trust Series 2017-CQHP A<sup>(b),(c)</sup> | TSFR1M + 0.897% | 5.0480 | &nbsp;&nbsp;&nbsp;11/15/34 | 2949669 |
| 1415987 | CD Mortgage Trust Series 2007-CD5 G<sup>(b),(d)</sup> |  | 6.5820 | &nbsp;&nbsp;&nbsp;11/15/44 | 1409239 |
| 3605440 | CD Mortgage Trust Series 2017-CD5 XA<sup>(d),(e)</sup> |  | 0.9110 | &nbsp;&nbsp;&nbsp;08/15/50 | 36273 |
| 9685000 | CFCRE Commercial Mortgage Trust Series 2011-C2 E<sup>(b),(d)</sup> |  | 5.0800 | &nbsp;&nbsp;&nbsp;12/15/47 | 9241547 |
| 2190000 | CFCRE Commercial Mortgage Trust Series 2011-C2 F<sup>(b),(d)</sup> |  | 5.0800 | &nbsp;&nbsp;&nbsp;12/15/47 | 1861816 |
| 326800 | CFCRE Commercial Mortgage Trust Series 2011-C2 D<sup>(b),(d)</sup> |  | 5.0800 | &nbsp;&nbsp;&nbsp;12/15/47 | 316132 |
| 10638718 | CG-CCRE Commercial Mortgage Trust Series 2014-FL1 B<sup>(b),(c)</sup> | TSFR1M + 1.264% | 5.4150 | &nbsp;&nbsp;&nbsp;06/15/31 | 9937650 |
| 422000 | Citigroup Commercial Mortgage Trust Series 2012-GC8 D<sup>(b),(d)</sup> |  | 5.2950 | &nbsp;&nbsp;&nbsp;09/10/45 | 253210 |
| 1420292 | Citigroup Commercial Mortgage Trust Series 2014-GC21 C<sup>(d)</sup> |  | 4.7800 | &nbsp;&nbsp;&nbsp;05/10/47 | 1387625 |
| 1960000 | COMM 2012-CCRE5 Mortgage Trust Series 2012-CR5 E<sup>(b),(d)</sup> |  | 4.6920 | &nbsp;&nbsp;&nbsp;12/10/45 | 1819356 |
| 8852414 | COMM 2015-CCRE22 Mortgage Trust Series CR22 B<sup>(d)</sup> |  | 3.9260 | &nbsp;&nbsp;&nbsp;03/10/48 | 8523116 |
| 2328715 | COMM Mortgage Trust Series 2012-LC4 C<sup>(d)</sup> |  | 5.6900 | &nbsp;&nbsp;&nbsp;12/10/44 | 2267146 |
| 6198389 | COMM Mortgage Trust Series 2012-CCRE1 D<sup>(b),(d)</sup> |  | 5.2740 | &nbsp;&nbsp;&nbsp;05/15/45 | 5668340 |
| 4026917 | COMM Mortgage Trust Series 2013-CCRE9 E<sup>(b),(d)</sup> |  | 4.6220 | &nbsp;&nbsp;&nbsp;07/10/45 | 3923958 |
| 19694173 | COMM Mortgage Trust Series 2012-CCRE3 B<sup>(b)</sup> |  | 3.9220 | &nbsp;&nbsp;&nbsp;10/15/45 | 18896087 |
| 11274000 | COMM Mortgage Trust Series 2013-LC6 E<sup>(b)</sup> |  | 3.5000 | &nbsp;&nbsp;&nbsp;01/10/46 | 10644853 |
| 85358 | COMM Mortgage Trust Series 2013-LC6 D<sup>(b),(d)</sup> |  | 3.8600 | &nbsp;&nbsp;&nbsp;01/10/46 | 82759 |
| 3128200 | COMM Mortgage Trust Series 2013-CCRE6 C<sup>(b),(d)</sup> |  | 3.7770 | &nbsp;&nbsp;&nbsp;03/10/46 | 3024177 |
| 4294500 | COMM Mortgage Trust Series 2013-CCRE6 D<sup>(b),(d)</sup> |  | 4.0000 | &nbsp;&nbsp;&nbsp;03/10/46 | 3763729 |
| 6327809 | COMM Mortgage Trust Series 2013-CCRE7 D<sup>(b),(d)</sup> |  | 4.3860 | &nbsp;&nbsp;&nbsp;03/10/46 | 5885363 |
| 4691670 | COMM Mortgage Trust Series 2010-C1 D<sup>(b),(d)</sup> |  | 5.9850 | &nbsp;&nbsp;&nbsp;07/10/46 | 4588933 |
| 1380000 | COMM Mortgage Trust Series 2014-CR14 C<sup>(d)</sup> |  | 3.7920 | &nbsp;&nbsp;&nbsp;02/10/47 | 1318261 |
| 1121694 | COMM Mortgage Trust Series 2014-CR14 B<sup>(d)</sup> |  | 3.7920 | &nbsp;&nbsp;&nbsp;02/10/47 | 1088332 |
| 610000 | COMM Mortgage Trust Series 2014-CCRE17 C<sup>(d)</sup> |  | 4.9420 | &nbsp;&nbsp;&nbsp;05/10/47 | 566579 |
| 10122497 | COMM Mortgage Trust Series 2014-CCRE18 E<sup>(b)</sup> |  | 3.6000 | &nbsp;&nbsp;&nbsp;07/15/47 | 9541546 |
| 2527023 | COMM Mortgage Trust Series 2015-CCRE23 D<sup>(d)</sup> |  | 4.3520 | &nbsp;&nbsp;&nbsp;05/10/48 | 2479127 |
| 14540072 | Commercial Mortgage Pass Through Certificates Series 2012-LTRT A2<sup>(b)</sup> |  | 3.4000 | &nbsp;&nbsp;&nbsp;10/05/30 | 14222956 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** |
| **Principal Amount ($)** |  | **Spread** | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **ASSET BACKED SECURITIES — 79.0% (Continued)** | **ASSET BACKED SECURITIES — 79.0% (Continued)** |  |  |  |
|  | **NON AGENCY CMBS** — **35.4% (Continued)** | **NON AGENCY CMBS** — **35.4% (Continued)** |  |  |  |
| 5790000 | Commercial Mortgage Pass Through Certificates Series 2012-LTRT B<sup>(b)</sup> |  | 3.8000 | &nbsp;&nbsp;&nbsp;10/05/30 | $5492741 |
| 48956 | Credit Suisse Commercial Mortgage Trust Series 2006-C4 C<sup>(b),(d)</sup> |  | 5.5220 | &nbsp;&nbsp;&nbsp;09/15/39 | 48042 |
| 2935145 | CSMC OA, LLC Series 2014-USA X1<sup>(a),(b),(d),(e)</sup> |  | 0.6860 | &nbsp;&nbsp;&nbsp;09/15/37 | 41 |
| 6066043 | DBUBS Mortgage Trust Series 2011-LC3A D<sup>(b),(d)</sup> |  | 5.5300 | &nbsp;&nbsp;&nbsp;08/10/44 | 5841898 |
| 371187 | FREMF Mortgage Trust Series 2020-KF74 C<sup>(b),(c)</sup> | SOFR30A + 6.364% | 10.7190 | &nbsp;&nbsp;&nbsp;01/25/27 | 367052 |
| 149126 | Greenwich Capital Commercial Mortgage Trust Series 2006-RR1 A1<sup>(b),(d)</sup> |  | 5.7775 | &nbsp;&nbsp;&nbsp;03/18/49 | 141342 |
| 143804 | GS Mortgage Securities Corporation Trust Series 2012-TMSQ B<sup>(b),(d)</sup> |  | 3.8450 | &nbsp;&nbsp;&nbsp;04/10/31 | 141603 |
| 6350000 | GS Mortgage Securities Corporation Trust Series 2012-TMSQ C<sup>(b),(d)</sup> |  | 3.8450 | &nbsp;&nbsp;&nbsp;04/10/31 | 6146750 |
| 1225723 | GS Mortgage Securities Trust Series 2011-GC5 C<sup>(b),(d)</sup> |  | 5.3140 | &nbsp;&nbsp;&nbsp;08/10/44 | 1080576 |
| 16791000 | GS Mortgage Securities Trust Series 2011-GC5 B<sup>(b),(d)</sup> |  | 5.3140 | &nbsp;&nbsp;&nbsp;08/10/44 | 15912705 |
| 2543737 | GS Mortgage Securities Trust Series 2007-GG10 AJ<sup>(d)</sup> |  | 5.6298 | &nbsp;&nbsp;&nbsp;08/10/45 | 406998 |
| 6450945 | GS Mortgage Securities Trust Series 2012-GCJ9 D<sup>(b),(d)</sup> |  | 4.7410 | &nbsp;&nbsp;&nbsp;11/10/45 | 6211515 |
| 8400840 | GS Mortgage Securities Trust Series 2013-GC14 F<sup>(b),(d)</sup> |  | 4.0250 | &nbsp;&nbsp;&nbsp;08/10/46 | 8289357 |
| 132488 | Impac CMB Trust Series 2004-8 3M2<sup>(c)</sup> | TSFR1M + 1.689% | 5.8470 | &nbsp;&nbsp;&nbsp;08/25/34 | 128360 |
| 91723 | Impac CMB Trust Series 2004-8 3B<sup>(c)</sup> | TSFR1M + 2.739% | 6.8970 | &nbsp;&nbsp;&nbsp;08/25/34 | 92445 |
| 3500000 | JP Morgan Chase Commercial Mortgage Series MINN A<sup>(b),(c)</sup> | TSFR1M + 1.317% | 5.4670 | &nbsp;&nbsp;&nbsp;11/15/35 | 3330943 |
| 21134824 | JP Morgan Chase Commercial Mortgage Securities Series 2012-WLDN A<sup>(b)</sup> |  | 3.9100 | &nbsp;&nbsp;&nbsp;05/05/30 | 20659503 |
| 12950000 | JP Morgan Chase Commercial Mortgage Securities Series C2 F<sup>(b)</sup> |  | 3.3920 | &nbsp;&nbsp;&nbsp;11/15/43 | 9329957 |
| 2004065 | JP Morgan Chase Commercial Mortgage Securities Series 2010-C2 D<sup>(b),(d)</sup> |  | 5.7690 | &nbsp;&nbsp;&nbsp;11/15/43 | 1881088 |
| 12770000 | JP Morgan Chase Commercial Mortgage Securities Series 2010-C2 E<sup>(b),(d)</sup> |  | 5.7690 | &nbsp;&nbsp;&nbsp;11/15/43 | 11956344 |
| 1358000 | JP Morgan Chase Commercial Mortgage Securities Series 2012-C6F<sup>(b),(d)</sup> |  | 5.1290 | &nbsp;&nbsp;&nbsp;05/15/45 | 1242822 |
| 16623288 | JP Morgan Chase Commercial Mortgage Securities Series 2012-C6 E<sup>(b),(d)</sup> |  | 5.1290 | &nbsp;&nbsp;&nbsp;05/15/45 | 16293910 |
| 315583 | JP Morgan Chase Commercial Mortgage Securities Series C6 D<sup>(d)</sup> |  | 5.1290 | &nbsp;&nbsp;&nbsp;05/15/45 | 313669 |
| 6878890 | JP Morgan Chase Commercial Mortgage Securities Series CBX E<sup>(b),(d)</sup> |  | 4.8460 | &nbsp;&nbsp;&nbsp;06/15/45 | 6553441 |
| 592409 | JP Morgan Chase Commercial Mortgage Securities Series 2011-C3B<sup>(b)(d)</sup> |  | 5.0130 | &nbsp;&nbsp;&nbsp;02/15/46 | 566753 |
| 9260000 | JP Morgan Chase Commercial Mortgage Securities Series 2011-C3 C<sup>(b),(d)</sup> |  | 5.3600 | &nbsp;&nbsp;&nbsp;02/15/46 | 8741127 |
| 2856000 | JP Morgan Chase Commercial Mortgage Securities Series 2011-C3 D<sup>(b),(d)</sup> |  | 5.7100 | &nbsp;&nbsp;&nbsp;02/15/46 | 2571875 |
| 107000 | JP Morgan Chase Commercial Mortgage Securities Series 2013-LC11 D<sup>(d)</sup> |  | 4.3390 | &nbsp;&nbsp;&nbsp;04/15/46 | 7778 |
| 513803 | JP Morgan Chase Commercial Mortgage Securities Series 2012-LC9 C<sup>(b),(d)</sup> |  | 3.6890 | &nbsp;&nbsp;&nbsp;12/15/47 | 504339 |
| 64686 | JPMBB Commercial Mortgage Securities Trust Series C12 C<sup>(d)</sup> |  | 4.0710 | &nbsp;&nbsp;&nbsp;07/15/45 | 62100 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** |
| **Principal Amount ($)** |  | **Spread** | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **ASSET BACKED SECURITIES — 79.0% (Continued)** | **ASSET BACKED SECURITIES — 79.0% (Continued)** |  |  |  |
|  | **NON AGENCY CMBS** — **35.4% (Continued)** | **NON AGENCY CMBS** — **35.4% (Continued)** |  |  |  |
| 5960582 | JPMBB Commercial Mortgage Securities Trust Series C15 D<sup>(b),(d)</sup> |  | 4.5948 | &nbsp;&nbsp;&nbsp;11/15/45 | $5399639 |
| 100 | LBSBN Series 2005-2A PS<sup>(g)</sup> |  | 0.0000 | &nbsp;&nbsp;&nbsp;09/27/30 | 2785000 |
| 2000000 | LOANME Trust SBL Series 2019-1 C<sup>(b),(f)</sup> |  | 15.0000 | &nbsp;&nbsp;&nbsp;08/15/30 | 90000 |
| 4161 | Merrill Lynch Mortgage Trust Series 2006-C1 B<sup>(d)</sup> |  | 6.2200 | &nbsp;&nbsp;&nbsp;05/12/39 | 4577 |
| 508023 | ML-CFC Commercial Mortgage Trust Series 2007-9 AJ<sup>(d)</sup> |  | 7.7120 | &nbsp;&nbsp;&nbsp;09/12/49 | 468686 |
| 230345 | ML-CFC Commercial Mortgage Trust Series 2007-9 AJA<sup>(d)</sup> |  | 7.7410 | &nbsp;&nbsp;&nbsp;09/12/49 | 212509 |
| 10007615 | Morgan Stanley Bank of America Merrill Lynch Trust Series C6 D<sup>(b),(d)</sup> |  | 4.3446 | &nbsp;&nbsp;&nbsp;11/15/45 | 8784809 |
| 4341086 | Morgan Stanley Bank of America Merrill Lynch Trust Series C6 C<sup>(d)</sup> |  | 4.5360 | &nbsp;&nbsp;&nbsp;11/15/45 | 3939811 |
| 350000 | Morgan Stanley Bank of America Merrill Lynch Trust Series C9 C<sup>(d)</sup> |  | 3.8360 | &nbsp;&nbsp;&nbsp;05/15/46 | 324409 |
| 7025614 | Morgan Stanley Bank of America Merrill Lynch Trust Series 2013-C10 C<sup>(d)</sup> |  | 4.0850 | &nbsp;&nbsp;&nbsp;07/15/46 | 6463441 |
| 4930000 | Morgan Stanley Bank of America Merrill Lynch Trust Series C10 D<sup>(b),(d)</sup> |  | 4.0850 | &nbsp;&nbsp;&nbsp;07/15/46 | 4055885 |
| 2402950 | Morgan Stanley Bank of America Merrill Lynch Trust Series 2013-C11 AS<sup>(d)</sup> |  | 4.2120 | &nbsp;&nbsp;&nbsp;08/15/46 | 2295339 |
| 4158000 | Morgan Stanley Bank of America Merrill Lynch Trust Series 2013-C12 D<sup>(b),(d)</sup> |  | 4.8590 | &nbsp;&nbsp;&nbsp;10/15/46 | 3797528 |
| 2772393 | Morgan Stanley Bank of America Merrill Lynch Trust Series C8 F<sup>(b),(d)</sup> |  | 4.3940 | &nbsp;&nbsp;&nbsp;12/15/48 | 2497564 |
| 66013 | Morgan Stanley Capital I Trust Series 2011-C2 D<sup>(b),(d)</sup> |  | 5.3850 | &nbsp;&nbsp;&nbsp;06/15/44 | 64395 |
| 10180000 | Morgan Stanley Capital I Trust Series 2011-C2 E<sup>(b),(d)</sup> |  | 5.3850 | &nbsp;&nbsp;&nbsp;06/15/44 | 9690384 |
| 919676 | Morgan Stanley Capital I Trust Series 2011-C3 E<sup>(b),(d)</sup> |  | 5.1050 | &nbsp;&nbsp;&nbsp;07/15/49 | 901751 |
| 2064950 | Morgan Stanley Capital I Trust Series 2011-C3 F<sup>(b),(d)</sup> |  | 5.1050 | &nbsp;&nbsp;&nbsp;07/15/49 | 1963983 |
| 1770000 | MSRW 2025-CC Pass-Through Trust Series CC D<sup>(b)</sup> |  | 8.3170 | &nbsp;&nbsp;&nbsp;08/15/30 | 1781305 |
| 5000000 | OWS Real Estate Finance, LLC Series MARG2 A<sup>(b),(c)</sup> |  | 8.1510 | &nbsp;&nbsp;&nbsp;08/15/27 | 4999941 |
| 8000000 | TMSQ Mortgage Trust Series 2014-1500 XA<sup>(b),(d),(e)</sup> |  | 0.2830 | &nbsp;&nbsp;&nbsp;10/10/36 | 23520 |
| 496481 | UBS-Barclays Commercial Mortgage Trust Series 2013-C5 B<sup>(b),(d)</sup> |  | 3.6490 | &nbsp;&nbsp;&nbsp;03/10/46 | 480216 |
| 3771068 | UBS-Barclays Commercial Mortgage Trust Series 2013-C5 C<sup>(b),(d)</sup> |  | 3.8440 | &nbsp;&nbsp;&nbsp;03/10/46 | 3471164 |
| 2477250 | UBS-Barclays Commercial Mortgage Trust Series 2013-C5 D<sup>(b),(d)</sup> |  | 3.8440 | &nbsp;&nbsp;&nbsp;03/10/46 | 1969525 |
| 5190585 | UBS-Citigroup Commercial Mortgage Trust Series 2011-C1 E<sup>(b),(d)</sup> |  | 5.9290 | &nbsp;&nbsp;&nbsp;01/10/45 | 3916613 |
| 1063572 | VA Gilbert AZ Subordinated Note Lease-Backed Pass-Through Trust<sup>(b)</sup> |  | 12.9970 | &nbsp;&nbsp;&nbsp;03/15/34 | 1270968 |
| 743059 | Wachovia Bank Commercial Mortgage Trust Series 2005-C21 E<sup>(b),(d)</sup> |  | 0.5280 | &nbsp;&nbsp;&nbsp;10/15/44 | 738308 |
| 22732 | Wells Fargo Commercial Mortgage Trust Series 2013-LC12 B<sup>(d)</sup> |  | 3.9130 | &nbsp;&nbsp;&nbsp;07/15/46 | 22058 |
| 11227000 | Wells Fargo Commercial Mortgage Trust Series 2013-LC12 C<sup>(d)</sup> |  | 3.9130 | &nbsp;&nbsp;&nbsp;07/15/46 | 10446086 |
| 7930257 | WFLD Mortgage Trust Series 2014-MONT A<sup>(b),(d)</sup> |  | 3.8800 | &nbsp;&nbsp;&nbsp;08/10/31 | 7575501 |
| 2202399 | WFRBS Commercial Mortgage Trust Series 2011-C4 D<sup>(b),(d)</sup> |  | 5.1500 | &nbsp;&nbsp;&nbsp;06/15/44 | 2093205 |
| 738582 | WFRBS Commercial Mortgage Trust Series 2013-C11 B<sup>(d)</sup> |  | 3.7140 | &nbsp;&nbsp;&nbsp;03/15/45 | 731476 |
| 9547065 | WFRBS Commercial Mortgage Trust Series 2012-C9 G<sup>(b),(d)</sup> |  | 4.8760 | &nbsp;&nbsp;&nbsp;11/15/45 | 9318967 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** |
| **Principal Amount ($)** |  | **Spread** | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **ASSET BACKED SECURITIES — 79.0% (Continued)** | **ASSET BACKED SECURITIES — 79.0% (Continued)** |  |  |  |
|  | **NON AGENCY CMBS** — **35.4% (Continued)** | **NON AGENCY CMBS** — **35.4% (Continued)** |  |  |  |
| 8901600 | WFRBS Commercial Mortgage Trust Series 2012-C9 F<sup>(b),(d)</sup> |  | 4.8760 | &nbsp;&nbsp;&nbsp;11/15/45 | $8728634 |
| 3625313 | WFRBS Commercial Mortgage Trust Series 2012-C9 E<sup>(b),(d)</sup> |  | 4.8760 | &nbsp;&nbsp;&nbsp;11/15/45 | 3596408 |
| 207902 | WFRBS Commercial Mortgage Trust Series 2012-C10 B |  | 3.7440 | &nbsp;&nbsp;&nbsp;12/15/45 | 195170 |
| 6956000 | WFRBS Commercial Mortgage Trust Series 2013-C14 D<sup>(b),(d)</sup> |  | 3.8167 | &nbsp;&nbsp;&nbsp;06/15/46 | 4343441 |
| 14507689 | WFRBS Commercial Mortgage Trust Series 2013-C14 C<sup>(d)</sup> |  | 3.8167 | &nbsp;&nbsp;&nbsp;06/15/46 | 12794093 |
| 10667262 | WFRBS Commercial Mortgage Trust Series 2013-C14 B<sup>(d)</sup> |  | 3.8410 | &nbsp;&nbsp;&nbsp;06/15/46 | 10039599 |
| 4757442 | WFRBS Commercial Mortgage Trust Series 2013-C15 B<sup>(d)</sup> |  | 4.2840 | &nbsp;&nbsp;&nbsp;08/15/46 | 4583652 |
| 1362632 | WFRBS Commercial Mortgage Trust Series 2014-LC14 D<sup>(b),(d)</sup> |  | 4.5860 | &nbsp;&nbsp;&nbsp;03/15/47 | 1329046 |
| 6647000 | WFRBS Commercial Mortgage Trust Series 2014-C25 E<sup>(b)</sup> |  | 3.3200 | &nbsp;&nbsp;&nbsp;11/15/47 | 6303716 |
| 6065078 | WFRBS Commercial Mortgage Trust Series 2014-C25 D<sup>(b),(d)</sup> |  | 3.8030 | &nbsp;&nbsp;&nbsp;11/15/47 | 5849611 |
| 554534 | WFRBS Commercial Mortgage Trust Series 2014-C23 AS<sup>(d)</sup> |  | 4.2100 | &nbsp;&nbsp;&nbsp;10/15/57 | 538141 |
| 4740000 | Worldwide Plaza Trust Series 2017-WWP A<sup>(b)</sup> |  | 3.5260 | &nbsp;&nbsp;&nbsp;11/10/36 | 3175797 |
| 5705000 | Worldwide Plaza Trust Series 2017-WWP B<sup>(b),(d)</sup> |  | 3.7150 | &nbsp;&nbsp;&nbsp;11/10/36 | 2002452 |
| 3000000 | X-Caliber Funding, LLC Series 2021-7 A<sup>(b),(c)</sup> | SOFRRATE + 3.120% | 7.3950 | &nbsp;&nbsp;&nbsp;01/06/26 | 2987181 |
|  |  |  |  |  | 448493740 |
|  | **NON-AGENCY RESIDENTIAL MORTGAGE BACKED SECURITIES** — **39.6%** | **NON-AGENCY RESIDENTIAL MORTGAGE BACKED SECURITIES** — **39.6%** |  |  |  |
| 1300807 | ABFC Trust Series 2002-WF2 CE<sup>(g)</sup> |  | 0.0000 | &nbsp;&nbsp;&nbsp;11/25/29 | 1250000 |
| 157372 | ABFC Trust Series 2003-OPT1 A3<sup>(c)</sup> | TSFR1M + 0.794% | 4.9520 | &nbsp;&nbsp;&nbsp;04/25/33 | 155591 |
| 184087 | ABFS Mortgage Loan Trust Series 2000-1 A1<sup>(f)</sup> |  | 8.4250 | &nbsp;&nbsp;&nbsp;07/15/31 | 156460 |
| 84498 | ABFS Mortgage Loan Trust Series 2000-3 A<sup>(f)</sup> |  | 8.1100 | &nbsp;&nbsp;&nbsp;09/15/31 | 69300 |
| 612373 | ABFS Mortgage Loan Trust Series 2001-3 A2<sup>(b),(f)</sup> |  | 6.1700 | &nbsp;&nbsp;&nbsp;03/15/32 | 613899 |
| 2141654 | ABFS Mortgage Loan Trust Series 2002-1 A5<sup>(f)</sup> |  | 7.0100 | &nbsp;&nbsp;&nbsp;12/15/32 | 1763726 |
| 531312 | ABFS Mortgage Loan Trust Series 2003-1 M<sup>(c)</sup> | TSFR1M + 2.364% | 6.5150 | &nbsp;&nbsp;&nbsp;08/15/33 | 530172 |
| 822757 | ABFS Mortgage Loan Trust Series 2002-4 M1<sup>(f)</sup> |  | 2.1160 | &nbsp;&nbsp;&nbsp;12/15/33 | 631367 |
| 84439 | ABN Amro Mortgage Corporation Series 2002-9 M |  | 5.7500 | &nbsp;&nbsp;&nbsp;12/25/32 | 84299 |
| 35640 | ABN Amro Mortgage Corporation Series 2003-3 A4 |  | 5.7500 | &nbsp;&nbsp;&nbsp;02/25/33 | 35351 |
| 707980 | Accredited Mortgage Loan Trust Series 2004-3 2A6<sup>(c)</sup> | TSFR1M + 0.984% | 5.1420 | &nbsp;&nbsp;&nbsp;10/25/34 | 680690 |
| 3654124 | Accredited Mortgage Loan Trust Series 2005-1 M5<sup>(c)</sup> | TSFR1M + 3.414% | 5.4200 | &nbsp;&nbsp;&nbsp;04/25/35 | 3792751 |
| 2373935 | ACE Securities Corp Home Equity Loan Trust Series 2001-HE1 CE<sup>(g)</sup> |  | 0.0000 | &nbsp;&nbsp;&nbsp;11/20/31 | 2135000 |
| 79186 | ACE Securities Corp Home Equity Loan Trust Series 2002-HE2 M1<sup>(c)</sup> | TSFR1M + 1.389% | 5.5470 | &nbsp;&nbsp;&nbsp;08/25/32 | 155052 |
| 26170 | ACE Securities Corp Home Equity Loan Trust Series HE2 M3<sup>(c)</sup> | TSFR1M + 3.339% | 7.4970 | &nbsp;&nbsp;&nbsp;08/25/32 | 44953 |
| 216785 | ACE Securities Corp Home Equity Loan Trust Series TC1 M2<sup>(c)</sup> | TSFR1M + 3.039% | 7.1970 | &nbsp;&nbsp;&nbsp;06/25/33 | 208429 |
| 320091 | ACE Securities Corp Home Equity Loan Trust Series HE1 M2<sup>(c)</sup> | TSFR1M + 1.764% | 5.9220 | &nbsp;&nbsp;&nbsp;03/25/34 | 321100 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** |
| **Principal Amount ($)** |  | **Spread** | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **ASSET BACKED SECURITIES — 79.0% (Continued)** | **ASSET BACKED SECURITIES — 79.0% (Continued)** |  |  |  |
|  | **NON-AGENCY RESIDENTIAL MORTGAGE BACKED SECURITIES** — **39.6% (Continued)** | **NON-AGENCY RESIDENTIAL MORTGAGE BACKED SECURITIES** — **39.6% (Continued)** |  |  |  |
| 28628 | ACE Securities Corp Home Equity Loan Trust Series RM1 M1<sup>(c)</sup> | TSFR1M + 1.164% | 5.3220 | &nbsp;&nbsp;&nbsp;07/25/34 | $28257 |
| 528589 | ACE Securities Corp Home Equity Loan Trust Series 2004-RM1 B1<sup>(b),(c)</sup> | TSFR1M + 5.364% | 9.6900 | &nbsp;&nbsp;&nbsp;07/25/34 | 457841 |
| 1531310 | ACE Securities Corp Home Equity Loan Trust Series 2005-WF1 M10<sup>(c)</sup> | TSFR1M + 3.614% | 7.7720 | &nbsp;&nbsp;&nbsp;05/25/35 | 1751905 |
| 69277 | ACE Securities Corp Manufactured Housing Trust Series 2003-MH1 B2<sup>(b),(h)</sup> |  | 0.0000 | &nbsp;&nbsp;&nbsp;08/15/30 | 67907 |
| 74659 | Adjustable Rate Mortgage Trust Series 2005-2 3A1<sup>(d)</sup> |  | 6.2370 | &nbsp;&nbsp;&nbsp;06/25/35 | 74261 |
| 69022 | Adjustable Rate Mortgage Trust Series 2005-4 1A1<sup>(d)</sup> |  | 3.3950 | &nbsp;&nbsp;&nbsp;08/25/35 | 52626 |
| 544209 | Adjustable Rate Mortgage Trust Series 2005-5 2A1<sup>(d)</sup> |  | 5.4540 | &nbsp;&nbsp;&nbsp;09/25/35 | 478461 |
| 160545 | Adjustable Rate Mortgage Trust Series 2005-6A 1A21<sup>(c)</sup> | TSFR1M + 0.634% | 4.7920 | &nbsp;&nbsp;&nbsp;11/25/35 | 140108 |
| 191068 | Adjustable Rate Mortgage Trust Series 2005-6A 1A1<sup>(c)</sup> | TSFR1M + 0.654% | 4.8120 | &nbsp;&nbsp;&nbsp;11/25/35 | 164301 |
| 58075 | Adjustable Rate Mortgage Trust Series 2005-10 3A31<sup>(d)</sup> |  | 4.0220 | &nbsp;&nbsp;&nbsp;01/25/36 | 51675 |
| 148616 | Adjustable Rate Mortgage Trust Series 2005-10 3A11<sup>(d)</sup> |  | 4.0220 | &nbsp;&nbsp;&nbsp;01/25/36 | 129627 |
| 100111 | Adjustable Rate Mortgage Trust Series 2005-10 6A1<sup>(c)</sup> | TSFR1M + 0.654% | 4.8120 | &nbsp;&nbsp;&nbsp;01/25/36 | 94509 |
| 370110 | Aegis Asset Backed Securities Trust Mortgage Series 2004-3 B2<sup>(c)</sup> | TSFR1M + 3.264% | 7.4220 | &nbsp;&nbsp;&nbsp;09/25/34 | 360510 |
| 482688 | Aegis Asset Backed Securities Trust Mortgage Series 2004-4 M3<sup>(c)</sup> | TSFR1M + 2.139% | 6.2970 | &nbsp;&nbsp;&nbsp;10/25/34 | 529558 |
| 2182250 | AFC Trust Series 1999-3 2A<sup>(c)</sup> | TSFR1M + 0.904% | 5.0620 | &nbsp;&nbsp;&nbsp;09/28/29 | 2070888 |
| 186740 | Alternative Loan Trust Series 2004-J6 M<sup>(d)</sup> |  | 9.8450 | &nbsp;&nbsp;&nbsp;11/25/31 | 187105 |
| 46285 | Alternative Loan Trust Series 2003-J3 1A2 |  | 5.2500 | &nbsp;&nbsp;&nbsp;11/25/33 | 46162 |
| 740342 | Alternative Loan Trust Series 2004-8CB M3<sup>(c)</sup> | US0001M + 2.850% | 7.1220 | &nbsp;&nbsp;&nbsp;06/25/34 | 950622 |
| 192652 | Alternative Loan Trust Series 2005-36 4A1<sup>(d)</sup> |  | 4.2540 | &nbsp;&nbsp;&nbsp;08/25/35 | 179306 |
| 382047 | Alternative Loan Trust Series 2005-43 5A1<sup>(d)</sup> |  | 5.3060 | &nbsp;&nbsp;&nbsp;09/25/35 | 344834 |
| 620632 | Alternative Loan Trust Series 2005-43 3A1<sup>(d)</sup> |  | 4.0800 | &nbsp;&nbsp;&nbsp;10/25/35 | 582427 |
| 45153 | Alternative Loan Trust Series 2005-51 2A1<sup>(c)</sup> | TSFR1M + 0.714% | 4.8500 | &nbsp;&nbsp;&nbsp;11/20/35 | 42137 |
| 1002187 | Alternative Loan Trust Series 2006-OC2 2A3<sup>(c)</sup> | TSFR1M + 0.694% | 4.8520 | &nbsp;&nbsp;&nbsp;02/25/36 | 930486 |
| 1468744 | Alternative Loan Trust Series 2006-J6 A2<sup>(c),(e)</sup> | -(TSFR1M + 0.114%) + 5.500% | 1.2280 | &nbsp;&nbsp;&nbsp;09/25/36 | 159872 |
| 1203889 | Alternative Loan Trust Series 2006-J6 A1<sup>(c)</sup> | TSFR1M + 0.614% | 2.3260 | &nbsp;&nbsp;&nbsp;09/25/36 | 437713 |
| 638016 | Alternative Loan Trust Series 2006-32CB A2<sup>(c),(e)</sup> | -(TSFR1M + 0.114%) + 5.330% | 1.0580 | &nbsp;&nbsp;&nbsp;11/25/36 | 64505 |
| 384347 | Alternative Loan Trust Series 2006-32CB A1<sup>(c)</sup> | TSFR1M + 0.784% | 2.8630 | &nbsp;&nbsp;&nbsp;11/25/36 | 173585 |
| 336729 | Alternative Loan Trust Series 2004-2CB 4A1 |  | 5.0000 | &nbsp;&nbsp;&nbsp;08/25/54 | 341483 |
| 497816 | American Home Mortgage Assets Trust Series 2006-1 2A1<sup>(c)</sup> | TSFR1M + 0.304% | 4.4620 | &nbsp;&nbsp;&nbsp;05/25/46 | 440769 |
| 6353185 | American Home Mortgage Investment Trust Series 2005-2 5A4D<sup>(f)</sup> |  | 5.8280 | &nbsp;&nbsp;&nbsp;09/25/35 | 4606696 |
| 105 | American Home Mortgage Investment Trust Series 2004-1 1M1<sup>(c)</sup> | TSFR1M + 1.014% | 5.1720 | &nbsp;&nbsp;&nbsp;04/25/44 | 105 |
| 841153 | American Home Mortgage Investment Trust Series 2005-4 5A<sup>(c)</sup> | TSFR6M + 2.178% | 1.6600 | &nbsp;&nbsp;&nbsp;11/25/45 | 312125 |
| 274050 | American Home Mortgage Investment Trust Series 2006-3 12A1<sup>(c)</sup> | TSFR1M + 0.494% | 4.6520 | &nbsp;&nbsp;&nbsp;12/25/46 | 264080 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** |
| **Principal Amount ($)** |  | **Spread** | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **ASSET BACKED SECURITIES — 79.0% (Continued)** | **ASSET BACKED SECURITIES — 79.0% (Continued)** |  |  |  |
|  | **NON-AGENCY RESIDENTIAL MORTGAGE BACKED SECURITIES** — **39.6% (Continued)** | **NON-AGENCY RESIDENTIAL MORTGAGE BACKED SECURITIES** — **39.6% (Continued)** |  |  |  |
| 361304 | Ameriquest Mortgage Securities Asset-Backed Series 2002-3 M3<sup>(c)</sup> | TSFR1M + 2.964% | 7.1220 | &nbsp;&nbsp;&nbsp;08/25/32 | $366174 |
| 90222 | Ameriquest Mortgage Securities Asset-Backed Series 2003-AR1 M3<sup>(c)</sup> | TSFR1M + 4.614% | 3.2570 | &nbsp;&nbsp;&nbsp;01/25/33 | 88646 |
| 992136 | Ameriquest Mortgage Securities Asset-Backed Series 2004-R3 M4<sup>(c)</sup> | TSFR1M + 2.874% | 7.0320 | &nbsp;&nbsp;&nbsp;05/25/34 | 921083 |
| 100466 | Ameriquest Mortgage Securities, Inc. Asset Backed Series R1 M1<sup>(c)</sup> | TSFR1M + 0.909% | 5.0670 | &nbsp;&nbsp;&nbsp;02/25/34 | 124392 |
| 123519 | Ameriquest Mortgage Securities, Inc. Asset Backed Pass Through Certificates Series 2002-AR1 M1<sup>(c)</sup> | TSFR1M + 1.179% | 3.2670 | &nbsp;&nbsp;&nbsp;09/25/32 | 125853 |
| 2165705 | Ameriquest Mortgage Securities, Inc. Asset Backed Pass Through Certificates Series 2002-C M1<sup>(c)</sup> | TSFR1M + 3.489% | 7.6470 | &nbsp;&nbsp;&nbsp;11/25/32 | 2276453 |
| 213784 | Ameriquest Mortgage Securities, Inc. Asset-Backed Series 2002-D M1<sup>(c)</sup> | TSFR1M + 3.864% | 3.0400 | &nbsp;&nbsp;&nbsp;02/25/33 | 197275 |
| 439723 | Ameriquest Mortgage Securities, Inc. Asset-Backed Series AR3 M5<sup>(c)</sup> | TSFR1M + 5.739% | 2.8260 | &nbsp;&nbsp;&nbsp;06/25/33 | 383994 |
| 215469 | Amortizing Residential Collateral Trust Series 2002-BC5 M2<sup>(c)</sup> | TSFR1M + 1.914% | 6.0720 | &nbsp;&nbsp;&nbsp;07/25/32 | 238126 |
| 171980 | Amresco Residential Securities Corporation Mort Loan Series 1999-1 M1<sup>(c)</sup> | TSFR1M + 0.864% | 4.7200 | &nbsp;&nbsp;&nbsp;11/25/29 | 151062 |
| 889697 | Argent Securities Inc Asset-Backed Pass-Through Series 2003-W3 M5<sup>(c)</sup> | TSFR1M + 5.739% | 3.9350 | &nbsp;&nbsp;&nbsp;09/25/33 | 804719 |
| 312827 | Argent Securities Inc Asset-Backed Pass-Through Series W6 AV1<sup>(c)</sup> | TSFR1M + 0.974% | 5.1320 | &nbsp;&nbsp;&nbsp;01/25/34 | 302951 |
| 161599 | Argent Securities Inc Asset-Backed Pass-Through Series W9 M1<sup>(c)</sup> | TSFR1M + 0.984% | 3.9070 | &nbsp;&nbsp;&nbsp;06/26/34 | 165577 |
| 2540300 | Asset Backed Securities Corporation Home Equity Loan Series 2003-HE1 M3<sup>(c)</sup> | TSFR1M + 5.364% | 9.5150 | &nbsp;&nbsp;&nbsp;01/15/33 | 2353256 |
| 366732 | Asset Backed Securities Corporation Home Equity Loan Series HE6 A2<sup>(c)</sup> | TSFR1M + 0.794% | 4.9520 | &nbsp;&nbsp;&nbsp;11/25/33 | 409747 |
| 542865 | Banc of America Alternative Loan Trust Series 2006-4 1A2<sup>(c),(e)</sup> | -(TSFR1M + 0.114%) + 5.150% | 0.8780 | &nbsp;&nbsp;&nbsp;05/25/46 | 32601 |
| 537939 | Banc of America Alternative Loan Trust Series 2006-4 1A1<sup>(c)</sup> | TSFR1M + 0.964% | 5.1220 | &nbsp;&nbsp;&nbsp;05/25/46 | 463624 |
| 294810 | Banc of America Alternative Loan Trust Series 2006-4 1A3 |  | 6.0000 | &nbsp;&nbsp;&nbsp;05/25/46 | 268416 |
| 237913 | Banc of America Alternative Loan Trust Series 2006-4 1A4 |  | 6.0000 | &nbsp;&nbsp;&nbsp;05/25/46 | 216609 |
| 625759 | Banc of America Alternative Loan Trust Series 2006-4 1A5 |  | 6.0000 | &nbsp;&nbsp;&nbsp;05/25/46 | 569735 |
| 1011236 | Banc of America Funding Corporation Series 2008-1 A2<sup>(d)</sup> |  | 4.4360 | &nbsp;&nbsp;&nbsp;09/25/48 | 976235 |
| 67741 | Banc of America Funding Trust Series 2016-R2 1A1<sup>(b),(d)</sup> |  | 4.7000 | &nbsp;&nbsp;&nbsp;05/01/33 | 67728 |
| 56770 | Banc of America Funding Trust Series 2003-1 B2 |  | 6.0000 | &nbsp;&nbsp;&nbsp;05/20/33 | 21103 |
| 39533 | Banc of America Funding Trust Series 2007-4 5A1 |  | 5.5000 | &nbsp;&nbsp;&nbsp;11/25/34 | 34653 |
| 377257 | Banc of America Funding Trust Series 2004-B 6A1<sup>(d)</sup> |  | 2.8310 | &nbsp;&nbsp;&nbsp;12/20/34 | 316596 |
| 120095 | Banc of America Funding Trust Series 2005-B 1A1<sup>(d)</sup> |  | 5.5570 | &nbsp;&nbsp;&nbsp;04/20/35 | 111687 |
| 1144833 | Banc of America Funding Trust Series 2005-E 2A1<sup>(d)</sup> |  | 3.6430 | &nbsp;&nbsp;&nbsp;05/20/35 | 1022726 |
| 2034397 | Banc of America Funding Trust Series 2015-R8 3A2<sup>(b),(d)</sup> |  | 4.6430 | &nbsp;&nbsp;&nbsp;08/26/35 | 1593583 |
| 46794 | Banc of America Funding Trust Series 2005-8 30PO<sup>(h)</sup> |  | 0.0000 | &nbsp;&nbsp;&nbsp;01/25/36 | 30724 |
| 1093665 | Banc of America Funding Trust Series 2006-A 5A1<sup>(d)</sup> |  | 3.5350 | &nbsp;&nbsp;&nbsp;02/20/36 | 960028 |
| 840393 | Banc of America Funding Trust Series 2006-A 4A1<sup>(d)</sup> |  | 5.4780 | &nbsp;&nbsp;&nbsp;02/20/36 | 816127 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** |
| **Principal Amount ($)** |  | **Spread** | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **ASSET BACKED SECURITIES — 79.0% (Continued)** | **ASSET BACKED SECURITIES — 79.0% (Continued)** |  |  |  |
|  | **NON-AGENCY RESIDENTIAL MORTGAGE BACKED SECURITIES** — **39.6% (Continued)** | **NON-AGENCY RESIDENTIAL MORTGAGE BACKED SECURITIES** — **39.6% (Continued)** |  |  |  |
| 365560 | Banc of America Funding Trust Series 2006-B 7A1<sup>(d)</sup> |  | 4.4620 | &nbsp;&nbsp;&nbsp;03/20/36 | $319943 |
| 151455 | Banc of America Funding Trust Series 2006-B 1A1<sup>(d)</sup> |  | 6.8710 | &nbsp;&nbsp;&nbsp;03/20/36 | 147218 |
| 120506 | Banc of America Funding Trust Series 2006-C 4A1<sup>(d)</sup> |  | 5.5630 | &nbsp;&nbsp;&nbsp;04/20/36 | 107739 |
| 483712 | Banc of America Funding Trust Series 2006-D 2A1<sup>(d)</sup> |  | 3.4990 | &nbsp;&nbsp;&nbsp;05/20/36 | 449225 |
| 4773 | Banc of America Funding Trust Series 2006-G 3A3<sup>(c)</sup> | TSFR12M + 2.465% | 6.2240 | &nbsp;&nbsp;&nbsp;07/20/36 | 4746 |
| 111615 | Banc of America Funding Trust Series 2006-F 1A2<sup>(d)</sup> |  | 6.3920 | &nbsp;&nbsp;&nbsp;07/20/36 | 93792 |
| 65635 | Banc of America Funding Trust Series 2007-7 30PO<sup>(h)</sup> |  | 0.0000 | &nbsp;&nbsp;&nbsp;09/25/37 | 30903 |
| 89293 | Banc of America Funding Trust Series 2006-I 5A1<sup>(d)</sup> |  | 3.5010 | &nbsp;&nbsp;&nbsp;10/20/46 | 76565 |
| 236108 | Banc of America Funding Trust Series 2006-J 4A1<sup>(d)</sup> |  | 4.9710 | &nbsp;&nbsp;&nbsp;01/20/47 | 204422 |
| 1142435 | Banc of America Funding Trust Series 2007-5 7A5 |  | 6.5000 | &nbsp;&nbsp;&nbsp;07/25/47 | 882066 |
| 315434 | Banc of America Funding Trust Series 2007-8 3A1 |  | 6.0000 | &nbsp;&nbsp;&nbsp;08/25/53 | 169495 |
| 326773 | Banc of America Funding Trust Series 2009-R9 3A3<sup>(b),(d)</sup> |  | 3.4750 | &nbsp;&nbsp;&nbsp;11/25/56 | 256231 |
| 3815703 | Banc of America Mortgage Trust Series 2004-G 3A1<sup>(d)</sup> |  | 5.1910 | &nbsp;&nbsp;&nbsp;08/25/34 | 2518970 |
| 29412 | Banc of America Mortgage Trust Series 2005-A 2A2<sup>(d)</sup> |  | 5.1130 | &nbsp;&nbsp;&nbsp;02/25/35 | 28706 |
| 581191 | Banc of America Mortgage Trust Series 2005-G 4A3<sup>(d)</sup> |  | 3.4800 | &nbsp;&nbsp;&nbsp;08/25/35 | 522338 |
| 586085 | Banc of America Mortgage Trust Series 2005-I 4A1<sup>(d)</sup> |  | 7.4130 | &nbsp;&nbsp;&nbsp;10/25/35 | 587474 |
| 3329 | Banc of America Mortgage Trust Series 2006-A 1A1<sup>(d)</sup> |  | 3.9260 | &nbsp;&nbsp;&nbsp;02/25/36 | 3180 |
| 58520 | Banc of America Mortgage Trust Series 2006-B 2A1<sup>(d)</sup> |  | 5.2140 | &nbsp;&nbsp;&nbsp;11/20/46 | 52017 |
| 4500000 | BankAmerica Manufactured Housing Contract Trust Series 2 B1<sup>(d)</sup> |  | 0.5400 | &nbsp;&nbsp;&nbsp;02/10/32 | 384804 |
| 998871 | Bayview Financial Asset Trust Series 2007-SR1A A<sup>(b),(c)</sup> | TSFR1M + 0.564% | 4.7220 | &nbsp;&nbsp;&nbsp;03/25/37 | 1002652 |
| 2488507 | Bayview Financial Asset Trust Series 2007-SR1A M1<sup>(b),(c)</sup> | TSFR1M + 0.914% | 5.0720 | &nbsp;&nbsp;&nbsp;03/25/37 | 2508834 |
| 1627501 | Bayview Financial Asset Trust Series 2007-SR1A M2<sup>(b),(c)</sup> | TSFR1M + 1.014% | 5.1720 | &nbsp;&nbsp;&nbsp;03/25/37 | 1639581 |
| 971125 | Bayview Financial Asset Trust Series 2007-SR1A M3<sup>(b),(c)</sup> | TSFR1M + 1.264% | 5.4220 | &nbsp;&nbsp;&nbsp;03/25/37 | 987561 |
| 2356712 | Bayview Financial Asset Trust Series 2007-SR1A M4<sup>(b),(c)</sup> | TSFR1M + 1.614% | 5.7720 | &nbsp;&nbsp;&nbsp;03/25/37 | 2392977 |
| 557232 | Bayview Financial Mortgage Pass-Through Trust Series A B1<sup>(c)</sup> | TSFR1M + 4.239% | 8.4050 | &nbsp;&nbsp;&nbsp;02/28/44 | 627986 |
| 4203428 | BCAP, LLC Trust Series 2013-RR7 4A4<sup>(b),(d)</sup> |  | 5.4320 | &nbsp;&nbsp;&nbsp;12/27/34 | 4099175 |
| 1648997 | BCAP, LLC Trust Series 2009-RR10 1A2<sup>(b),(d)</sup> |  | 5.9960 | &nbsp;&nbsp;&nbsp;02/26/36 | 1651857 |
| 1083948 | BCAP, LLC Trust Series 2010-RR11 3A3<sup>(b),(d)</sup> |  | 4.3680 | &nbsp;&nbsp;&nbsp;06/27/36 | 1036360 |
| 3699665 | BCAP, LLC Trust Series 2012-RR8 4A6<sup>(b),(d)</sup> |  | 2.4840 | &nbsp;&nbsp;&nbsp;11/20/36 | 3174848 |
| 982447 | BCMSC Trust Series 1998-C M1<sup>(d)</sup> |  | 7.5100 | &nbsp;&nbsp;&nbsp;01/15/29 | 979008 |
| 583997 | BCMSC Trust Series 1999-A M1<sup>(d)</sup> |  | 6.7850 | &nbsp;&nbsp;&nbsp;03/15/29 | 578993 |
| 731888 | BCMSC Trust Series 1999-B A2<sup>(d)</sup> |  | 0.6300 | &nbsp;&nbsp;&nbsp;12/15/29 | 45340 |
| 611382 | BCMSC Trust Series 1999-B A3<sup>(d)</sup> |  | 0.6300 | &nbsp;&nbsp;&nbsp;12/15/29 | 38988 |
| 4944914 | BCMSC Trust Series 1999-B A5<sup>(d)</sup> |  | 0.6300 | &nbsp;&nbsp;&nbsp;12/15/29 | 326757 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** |
| **Principal Amount ($)** |  | **Spread** | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **ASSET BACKED SECURITIES — 79.0% (Continued)** | **ASSET BACKED SECURITIES — 79.0% (Continued)** |  |  |  |
|  | **NON-AGENCY RESIDENTIAL MORTGAGE BACKED SECURITIES** — **39.6% (Continued)** | **NON-AGENCY RESIDENTIAL MORTGAGE BACKED SECURITIES** — **39.6% (Continued)** |  |  |  |
| 737790 | BCMSC Trust Series 1999-B A6<sup>(d)</sup> |  | 0.6300 | &nbsp;&nbsp;&nbsp;12/15/29 | $51499 |
| 124241 | Bear Stearns ALT-A Trust Series 2004-12 2A4<sup>(d)</sup> |  | 4.2840 | &nbsp;&nbsp;&nbsp;01/25/35 | 118291 |
| 1364374 | Bear Stearns ALT-A Trust Series 2005-10 11A1<sup>(c)</sup> | TSFR1M + 0.614% | 4.7720 | &nbsp;&nbsp;&nbsp;01/25/36 | 1290599 |
| 2016736 | Bear Stearns ALT-A Trust Series 2006-1 11A1<sup>(c)</sup> | TSFR1M + 0.594% | 4.7520 | &nbsp;&nbsp;&nbsp;02/25/36 | 1914712 |
| 366798 | Bear Stearns ALT-A Trust Series 2006-3 35A1<sup>(d)</sup> |  | 2.8450 | &nbsp;&nbsp;&nbsp;05/25/36 | 173584 |
| 143731 | Bear Stearns ALT-A Trust Series 2006-3 1A1<sup>(c)</sup> | TSFR1M + 0.494% | 4.6520 | &nbsp;&nbsp;&nbsp;05/25/36 | 123875 |
| 52248 | Bear Stearns ALT-A Trust Series 2006-3 33A1<sup>(d)</sup> |  | 5.2170 | &nbsp;&nbsp;&nbsp;05/25/36 | 32050 |
| 189427 | Bear Stearns ARM Trust Series 2004-9 23A1<sup>(d)</sup> |  | 7.2500 | &nbsp;&nbsp;&nbsp;11/25/34 | 188191 |
| 705754 | Bear Stearns ARM Trust Series 2005-6 3A1<sup>(d)</sup> |  | 5.9160 | &nbsp;&nbsp;&nbsp;08/25/35 | 690241 |
| 201281 | Bear Stearns ARM Trust Series 2006-4 1A1<sup>(d)</sup> |  | 6.4710 | &nbsp;&nbsp;&nbsp;10/25/36 | 195326 |
| 46971 | Bear Stearns ARM Trust Series 2007-5 3A1<sup>(d)</sup> |  | 4.5280 | &nbsp;&nbsp;&nbsp;08/25/47 | 41096 |
| 2702133 | Bear Stearns ARM Trust Series 2007-5 2A1<sup>(d)</sup> |  | 4.7480 | &nbsp;&nbsp;&nbsp;08/25/47 | 2463139 |
| 1722403 | Bear Stearns Asset Backed Securities I Trust Series 2004-FR3 M4<sup>(c)</sup> | TSFR1M + 2.814% | 5.2580 | &nbsp;&nbsp;&nbsp;09/25/34 | 1647852 |
| 3531164 | Bear Stearns Asset Backed Securities I Trust Series 2004-BO1 M9A<sup>(c)</sup> | TSFR1M + 6.114% | 10.2720 | &nbsp;&nbsp;&nbsp;10/25/34 | 3529670 |
| 148848 | Bear Stearns Asset Backed Securities I Trust Series 2004-HE10 M6<sup>(c)</sup> | TSFR1M + 4.764% | 5.5570 | &nbsp;&nbsp;&nbsp;12/25/34 | 199175 |
| 1006367 | Bear Stearns Asset Backed Securities I Trust Series TC1 M7<sup>(c)</sup> | TSFR1M + 4.614% | 4.8920 | &nbsp;&nbsp;&nbsp;05/25/35 | 1076135 |
| 960825 | Bear Stearns Asset Backed Securities I Trust Series 2005-TC1 M6<sup>(c)</sup> | TSFR1M + 2.664% | 4.8920 | &nbsp;&nbsp;&nbsp;05/25/35 | 981787 |
| 377670 | Bear Stearns Asset Backed Securities I Trust Series TC1 M5<sup>(c)</sup> | TSFR1M + 2.064% | 4.8920 | &nbsp;&nbsp;&nbsp;05/25/35 | 382385 |
| 3547332 | Bear Stearns Asset Backed Securities I Trust Series 2005-TC2 M8<sup>(b),(c)</sup> | TSFR1M + 4.614% | 4.9350 | &nbsp;&nbsp;&nbsp;08/25/35 | 3646905 |
| 122178 | Bear Stearns Asset Backed Securities I Trust Series 2005-AC5 1A1<sup>(c)</sup> | TSFR1M + 1.114% | 5.2720 | &nbsp;&nbsp;&nbsp;08/25/35 | 71450 |
| 2412279 | Bear Stearns Asset Backed Securities I Trust Series HE10 1M2<sup>(c)</sup> | TSFR1M + 0.464% | 4.7970 | &nbsp;&nbsp;&nbsp;12/25/36 | 2369025 |
| 1171529 | Bear Stearns Asset Backed Securities I Trust Series 2007-HE1 2M1<sup>(c)</sup> | TSFR1M + 0.384% | 4.6770 | &nbsp;&nbsp;&nbsp;01/25/37 | 1125056 |
| 10695 | Bear Stearns Asset Backed Securities Trust Series 2003-AC5 A1<sup>(f)</sup> |  | 5.7500 | &nbsp;&nbsp;&nbsp;10/25/33 | 12299 |
| 367823 | Bear Stearns Asset Backed Securities Trust Series 2003-SD1 A<sup>(c)</sup> | TSFR1M + 1.014% | 5.1720 | &nbsp;&nbsp;&nbsp;12/25/33 | 380766 |
| 1788000 | Bear Stearns Asset Backed Securities Trust Series 2006-SD1 M4<sup>(c)</sup> | TSFR1M + 2.364% | 6.5220 | &nbsp;&nbsp;&nbsp;04/25/36 | 1961370 |
| 540799 | Bear Stearns Asset Backed Securities Trust Series 2006-2 M6<sup>(c)</sup> | TSFR1M + 2.739% | 6.8970 | &nbsp;&nbsp;&nbsp;07/25/36 | 540219 |
| 2987000 | Bear Stearns Asset Backed Securities Trust Series 2006-2 M7<sup>(c)</sup> | TSFR1M + 3.864% | 8.0220 | &nbsp;&nbsp;&nbsp;07/25/36 | 2894459 |
| 23003 | Bear Stearns Asset Backed Securities Trust Series 2006-SD3 1A1A |  | 5.5000 | &nbsp;&nbsp;&nbsp;08/25/36 | 23403 |
| 408424 | Bear Stearns Asset Backed Securities Trust Series 2007-SD1 1A2A |  | 2.8740 | &nbsp;&nbsp;&nbsp;10/25/36 | 128157 |
| 277237 | Bear Stearns Asset Backed Securities Trust Series 2005-SD3 2M4<sup>(c)</sup> | TSFR1M + 3.264% | 7.4220 | &nbsp;&nbsp;&nbsp;11/25/39 | 316598 |
| 378272 | Bear Stearns Asset Backed Securities Trust Series 2005-SD4 2M3<sup>(c)</sup> | TSFR1M + 3.264% | 7.4220 | &nbsp;&nbsp;&nbsp;12/25/42 | 457094 |
| 902000 | Bear Stearns Asset Backed Securities Trust Series 2005-SD4 2M4<sup>(c)</sup> | TSFR1M + 3.264% | 7.4220 | &nbsp;&nbsp;&nbsp;12/25/42 | 1039620 |
| 25983 | Bear Stearns Asset Backed Securities Trust Series 2007-SD2 1PO<sup>(h)</sup> |  | 0.0000 | &nbsp;&nbsp;&nbsp;09/25/46 | 19496 |
| 131569 | Bear Stearns Asset Backed Securities Trust Series 2007-SD2 1A1B |  | 5.5000 | &nbsp;&nbsp;&nbsp;09/25/46 | 124345 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** |
| **Principal Amount ($)** |  | **Spread** | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **ASSET BACKED SECURITIES — 79.0% (Continued)** | **ASSET BACKED SECURITIES — 79.0% (Continued)** |  |  |  |
|  | **NON-AGENCY RESIDENTIAL MORTGAGE BACKED SECURITIES** — **39.6% (Continued)** | **NON-AGENCY RESIDENTIAL MORTGAGE BACKED SECURITIES** — **39.6% (Continued)** |  |  |  |
| 484354 | Bear Stearns Mortgage Funding Trust Series 2006-SL5 1A<sup>(c)</sup> | TSFR1M + 0.414% | 4.5720 | &nbsp;&nbsp;&nbsp;12/25/36 | $766569 |
| 100 | Bear Stearns Mortgage Funding Trust Series 2007-SL1 2A<sup>(c),(g)</sup> | US0001M + 0.300% | 0.0000 | &nbsp;&nbsp;&nbsp;03/25/37 |  |
| 1987029 | Bear Stearns Mortgage Funding Trust Series 2007-SL1 1A<sup>(c)</sup> | TSFR1M + 0.320% | 4.5920 | &nbsp;&nbsp;&nbsp;03/25/37 | 2668622 |
| 148140 | Bear Stearns Second Lien Trust Series 2007-1 1A<sup>(c)</sup> | TSFR1M + 0.494% | 4.4620 | &nbsp;&nbsp;&nbsp;01/25/37 | 145955 |
| 12743 | Bear Stearns Second Lien Trust Series 2007-1 3A<sup>(c)</sup> | TSFR1M + 0.554% | 4.7120 | &nbsp;&nbsp;&nbsp;08/25/37 | 12198 |
| 221189 | Bond Securitization Trust Series 2003-1 X<sup>(d),(g)</sup> |  | 0.0000 | &nbsp;&nbsp;&nbsp;10/25/34 | 206492 |
| 238196 | CDC Mortgage Capital Trust Series 2002-HE1 M<sup>(c)</sup> | TSFR1M + 1.989% | 6.1470 | &nbsp;&nbsp;&nbsp;01/25/33 | 976006 |
| 14701570 | Centex Home Equity Loan Trust Series 2004-A XIO<sup>(g)</sup> |  | 0.0000 | &nbsp;&nbsp;&nbsp;01/25/34 | 2662067 |
| 96651 | Centex Home Equity Loan Trust Series 2004-C M2<sup>(c)</sup> | TSFR1M + 0.909% | 4.4500 | &nbsp;&nbsp;&nbsp;06/25/34 | 94977 |
| 135817 | Centex Home Equity Loan Trust Series 2004-D MF2<sup>(f)</sup> |  | 6.0600 | &nbsp;&nbsp;&nbsp;09/25/34 | 135522 |
| 99344 | Chase Funding Loan Acquisition Trust Series OPT1 M2<sup>(c)</sup> | TSFR1M + 1.614% | 5.7720 | &nbsp;&nbsp;&nbsp;06/25/34 | 101590 |
| 37620 | Chase Funding Trust Series 2003-6 1A7<sup>(f)</sup> |  | 4.8340 | &nbsp;&nbsp;&nbsp;11/25/34 | 37306 |
| 201046 | Chase Funding Trust Series Series 2003-3 2B<sup>(c)</sup> | TSFR1M + 4.614% | 8.7720 | &nbsp;&nbsp;&nbsp;05/25/32 | 193901 |
| 903678 | ChaseFlex Trust Series 2005-2 3A4 |  | 7.5000 | &nbsp;&nbsp;&nbsp;06/25/35 | 550398 |
| 186185 | CHL Mortgage Pass-Through Trust Series 2004-2 2A1<sup>(d)</sup> |  | 4.6910 | &nbsp;&nbsp;&nbsp;02/25/34 | 171670 |
| 179550 | CHL Mortgage Pass-Through Trust Series 2004-5 2A7 |  | 5.0000 | &nbsp;&nbsp;&nbsp;05/25/34 | 174541 |
| 1179048 | CHL Mortgage Pass-Through Trust Series 2004-7 6A1<sup>(d)</sup> |  | 5.7410 | &nbsp;&nbsp;&nbsp;05/25/34 | 1135643 |
| 33729 | CHL Mortgage Pass-Through Trust Series 2004-8 1A6<sup>(h)</sup> |  | 0.0000 | &nbsp;&nbsp;&nbsp;07/25/34 | 26288 |
| 289854 | CHL Mortgage Pass-Through Trust Series 2004-14 4A1<sup>(d)</sup> |  | 5.5850 | &nbsp;&nbsp;&nbsp;08/25/34 | 274946 |
| 1486125 | CHL Mortgage Pass-Through Trust Series 2004-25 2A1<sup>(c)</sup> | TSFR1M + 0.794% | 4.9520 | &nbsp;&nbsp;&nbsp;02/25/35 | 1384886 |
| 1236 | CHL Mortgage Pass-Through Trust Series 2005-7 2A2<sup>(c)</sup> | TSFR1M + 0.834% | 4.9920 | &nbsp;&nbsp;&nbsp;03/25/35 | 422 |
| 1690287 | CHL Mortgage Pass-Through Trust Series 2005-11 3A3<sup>(d)</sup> |  | 3.6490 | &nbsp;&nbsp;&nbsp;04/25/35 | 1259688 |
| 214291 | CHL Mortgage Pass-Through Trust Series 2005-J2 3A12 |  | 5.0000 | &nbsp;&nbsp;&nbsp;08/25/35 | 129560 |
| 697117 | CHL Mortgage Pass-Through Trust Series 2005-31 2A3<sup>(d)</sup> |  | 4.4840 | &nbsp;&nbsp;&nbsp;01/25/36 | 631322 |
| 103251 | CHL Mortgage Pass-Through Trust Series 2007-J2 1A1 |  | 6.0000 | &nbsp;&nbsp;&nbsp;07/25/37 | 97013 |
| 334683 | CIT Home Equity Loan Trust Series 2002-2 MV2<sup>(c)</sup> | TSFR1M + 2.004% | 6.1620 | &nbsp;&nbsp;&nbsp;11/25/31 | 558510 |
| 72186 | Citicorp Mortgage Securities Trust Series 2006-1 1A4 |  | 6.0000 | &nbsp;&nbsp;&nbsp;02/25/36 | 67503 |
| 169307 | Citicorp Mortgage Securities, Inc. Series 2005-2 1A3 |  | 5.5000 | &nbsp;&nbsp;&nbsp;03/25/35 | 152828 |
| 86240 | Citigroup Mortgage Loan Trust Series 2004-HYB2 3A<sup>(d)</sup> |  | 5.9340 | &nbsp;&nbsp;&nbsp;03/25/34 | 74412 |
| 16216 | Citigroup Mortgage Loan Trust Series 2013-8 1A2<sup>(b),(d)</sup> |  | 5.3680 | &nbsp;&nbsp;&nbsp;05/25/35 | 15258 |
| 191007 | Citigroup Mortgage Loan Trust Series 2009-4 7A5<sup>(b),(d)</sup> |  | 5.4970 | &nbsp;&nbsp;&nbsp;05/25/35 | 181774 |
| 209756 | Citigroup Mortgage Loan Trust Series 2006-AR2 1A2<sup>(d)</sup> |  | 5.4550 | &nbsp;&nbsp;&nbsp;03/25/36 | 205634 |
| 311156 | Citigroup Mortgage Loan Trust Series 2006-AR3 1A2A<sup>(d)</sup> |  | 4.7300 | &nbsp;&nbsp;&nbsp;06/25/36 | 300118 |
| 255555 | Citigroup Mortgage Loan Trust Series 2013-8 2A2<sup>(b),(d)</sup> |  | 5.1480 | &nbsp;&nbsp;&nbsp;11/25/36 | 168847 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** |
| **Principal Amount ($)** |  | **Spread** | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **ASSET BACKED SECURITIES — 79.0% (Continued)** | **ASSET BACKED SECURITIES — 79.0% (Continued)** |  |  |  |
|  | **NON-AGENCY RESIDENTIAL MORTGAGE BACKED SECURITIES** — **39.6% (Continued)** | **NON-AGENCY RESIDENTIAL MORTGAGE BACKED SECURITIES** — **39.6% (Continued)** |  |  |  |
| 1177907 | Citigroup Mortgage Loan Trust Series 2008-RR1 A1A1<sup>(b),(c)</sup> | TSFR1M + 0.184% | 4.3420 | &nbsp;&nbsp;&nbsp;01/25/37 | $1050619 |
| 1412367 | Citigroup Mortgage Loan Trust Series 2007-6 1A4A<sup>(d)</sup> |  | 4.7790 | &nbsp;&nbsp;&nbsp;03/25/37 | 1372338 |
| 546110 | Citigroup Mortgage Loan Trust, Inc. Series 2004-RR1 2A1<sup>(b),(c)</sup> | TSFR1M + 0.514% | 4.6720 | &nbsp;&nbsp;&nbsp;01/25/29 | 523346 |
| 73685 | Citigroup Mortgage Loan Trust, Inc. Series HE3 M3<sup>(c)</sup> | TSFR1M + 3.639% | 7.7970 | &nbsp;&nbsp;&nbsp;12/25/33 | 109825 |
| 3301000 | Citigroup Mortgage Loan Trust, Inc. Series 2003-HE3 M4<sup>(c)</sup> | TSFR1M + 4.614% | 8.7720 | &nbsp;&nbsp;&nbsp;12/25/33 | 3701887 |
| 26625 | Citigroup Mortgage Loan Trust, Inc. Series 2004-NCM2 2CB3 |  | 8.0000 | &nbsp;&nbsp;&nbsp;08/25/34 | 27949 |
| 226910 | Citigroup Mortgage Loan Trust, Inc. Series 2004-RES1 M7<sup>(c)</sup> | TSFR1M + 2.739% | 6.8970 | &nbsp;&nbsp;&nbsp;11/25/34 | 871640 |
| 874194 | Citigroup Mortgage Loan Trust, Inc. Series 2005-9 2A3 |  | 5.7500 | &nbsp;&nbsp;&nbsp;11/25/35 | 684488 |
| 139295 | Citigroup Mortgage Loan Trust, Inc. Series 2005-SHL1M3<sup>(b),(c)</sup> | TSFR1M + 3.114% | 6.9630 | &nbsp;&nbsp;&nbsp;07/25/44 | 414400 |
| 62532 | CitiMortgage Alternative Loan Trust Series 2007-A1 1APO<sup>(h)</sup> |  | 0.0000 | &nbsp;&nbsp;&nbsp;01/25/37 | 35476 |
| 137767 | CitiMortgage Alternative Loan Trust Series 2007-A1 1A9<sup>(c),(e)</sup> | -(TSFR1M + 0.114%) + 5.400% | 1.1280 | &nbsp;&nbsp;&nbsp;01/25/37 | 10570 |
| 14417 | CitiMortgage Alternative Loan Trust Series 2007-A1 1A1 |  | 6.0000 | &nbsp;&nbsp;&nbsp;01/25/37 | 13025 |
| 11151101 | Conseco Finance Corporation Series 7 B2<sup>(d)</sup> |  | 0.3200 | &nbsp;&nbsp;&nbsp;10/15/26 | 207636 |
| 373845 | Conseco Finance Corporation Series 1996-8 B1<sup>(d)</sup> |  | 7.9500 | &nbsp;&nbsp;&nbsp;11/15/26 | 377695 |
| 1383123 | Conseco Finance Corporation Series 6 B1<sup>(d)</sup> |  | 8.0000 | &nbsp;&nbsp;&nbsp;09/15/27 | 1399439 |
| 2067341 | Conseco Finance Corporation Series 1997-8 M1<sup>(d)</sup> |  | 7.0200 | &nbsp;&nbsp;&nbsp;10/15/27 | 2104371 |
| 772697 | Conseco Finance Corporation Series 9 B1<sup>(d)</sup> |  | 7.6500 | &nbsp;&nbsp;&nbsp;01/15/28 | 783797 |
| 2784095 | Conseco Finance Corporation Series 1997-3 M1<sup>(d)</sup> |  | 7.5300 | &nbsp;&nbsp;&nbsp;03/15/28 | 2831322 |
| 1185194 | Conseco Finance Corporation Series 1997-2 M1<sup>(d)</sup> |  | 7.5400 | &nbsp;&nbsp;&nbsp;06/15/28 | 1249442 |
| 3300400 | Conseco Finance Corporation Series 7 M1<sup>(d)</sup> |  | 7.0300 | &nbsp;&nbsp;&nbsp;07/15/28 | 3355207 |
| 1721549 | Conseco Finance Corporation Series 1996-10 B1<sup>(d)</sup> |  | 7.2400 | &nbsp;&nbsp;&nbsp;11/15/28 | 1746460 |
| 160791 | Conseco Finance Corporation Series 1998-2 M1<sup>(d)</sup> |  | 6.9400 | &nbsp;&nbsp;&nbsp;12/01/28 | 162166 |
| 3170737 | Conseco Finance Corporation<sup>(d)</sup> |  | 6.9700 | &nbsp;&nbsp;&nbsp;05/15/29 | 3232124 |
| 2043877 | Conseco Finance Corporation Series 3 M1<sup>(d)</sup> |  | 6.8600 | &nbsp;&nbsp;&nbsp;03/01/30 | 2115958 |
| 375716 | Conseco Finance Corporation Series 3 A9<sup>(d)</sup> |  | 6.5300 | &nbsp;&nbsp;&nbsp;02/01/31 | 339808 |
| 1164178 | Conseco Finance Corporation Series 3 A8<sup>(d)</sup> |  | 7.0600 | &nbsp;&nbsp;&nbsp;02/01/31 | 1072596 |
| 1587039 | Conseco Finance Securitizations Corporation Series 6 A1<sup>(b),(d)</sup> |  | 2.4070 | &nbsp;&nbsp;&nbsp;06/01/30 | 409718 |
| 2082086 | Conseco Finance Securitizations Corporation Series 2002-1 M2<sup>(d)</sup> |  | 9.5460 | &nbsp;&nbsp;&nbsp;12/01/33 | 2048745 |
| 68087 | Contimortgage Home Equity Loan Trust Series 1996-4 A10<sup>(c)</sup> | TSFR1M + 0.594% | 4.7450 | &nbsp;&nbsp;&nbsp;01/15/28 | 55508 |
| 219722 | Countrywide Asset-Backed Certificates Series BC2 B<sup>(c)</sup> | TSFR1M + 4.464% | 8.6220 | &nbsp;&nbsp;&nbsp;08/25/33 | 236545 |
| 399974 | Countrywide Asset-Backed Certificates Series 2004-BC2 M5<sup>(c)</sup> | TSFR1M + 2.739% | 6.8970 | &nbsp;&nbsp;&nbsp;10/25/33 | 408313 |
| 21509 | Countrywide Asset-Backed Certificates Series 2004-S1 M1<sup>(f)</sup> |  | 5.2520 | &nbsp;&nbsp;&nbsp;02/25/35 | 21422 |
| 662152 | Countrywide Asset-Backed Certificates Series 2006-13 1AF5<sup>(f)</sup> |  | 3.9430 | &nbsp;&nbsp;&nbsp;01/25/37 | 570400 |
| 708124 | Countrywide Asset-Backed Certificates Series 2007-QX1 A1<sup>(c)</sup> | TSFR1M + 0.614% | 4.9370 | &nbsp;&nbsp;&nbsp;05/25/37 | 648258 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** |
| **Principal Amount ($)** |  | **Spread** | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **ASSET BACKED SECURITIES — 79.0% (Continued)** | **ASSET BACKED SECURITIES — 79.0% (Continued)** |  |  |  |
|  | **NON-AGENCY RESIDENTIAL MORTGAGE BACKED SECURITIES** — **39.6% (Continued)** | **NON-AGENCY RESIDENTIAL MORTGAGE BACKED SECURITIES** — **39.6% (Continued)** |  |  |  |
| 20597 | Countrywide Home Equity Loan Trust Series 2006-HW 2A1A<sup>(c)</sup> | TSFR1M + 0.264% | 4.4150 | &nbsp;&nbsp;&nbsp;11/15/36 | $18317 |
| 2651377 | Countrywide Home Equity Loan Trust Series 2006-HW 2A1B<sup>(c)</sup> | TSFR1M + 0.264% | 4.4150 | &nbsp;&nbsp;&nbsp;11/15/36 | 2288175 |
| 167817 | Credit Suisse First Boston Mortgage Securities Series 2005-8 6A1 |  | 5.5000 | &nbsp;&nbsp;&nbsp;08/25/30 | 89853 |
| 375426 | Credit Suisse First Boston Mortgage Securities Series MH29 B1<sup>(d)</sup> |  | 8.1000 | &nbsp;&nbsp;&nbsp;09/25/31 | 380595 |
| 150837 | Credit Suisse First Boston Mortgage Securities Series AR2 2M2<sup>(c)</sup> | TSFR1M + 2.514% | 6.6720 | &nbsp;&nbsp;&nbsp;02/25/32 | 166145 |
| 221868 | Credit Suisse First Boston Mortgage Securities Series 2002-P1A A<sup>(b),(d)</sup> |  | 5.0630 | &nbsp;&nbsp;&nbsp;03/25/32 | 213908 |
| 103327 | Credit Suisse First Boston Mortgage Securities Series 2002-18 1M2<sup>(d)</sup> |  | 7.0000 | &nbsp;&nbsp;&nbsp;06/25/32 | 100933 |
| 519489 | Credit Suisse First Boston Mortgage Securities Series 2002-HE1 A2<sup>(c)</sup> | TSFR1M + 0.854% | 3.6910 | &nbsp;&nbsp;&nbsp;08/25/32 | 499092 |
| 594781 | Credit Suisse First Boston Mortgage Securities Series HE16 B1<sup>(c)</sup> | TSFR1M + 2.914% | 7.0720 | &nbsp;&nbsp;&nbsp;10/25/32 | 698224 |
| 15010 | Credit Suisse First Boston Mortgage Securities Series 2002-AR31 CB2<sup>(d)</sup> |  | 7.0520 | &nbsp;&nbsp;&nbsp;11/25/32 | 14555 |
| 58860 | Credit Suisse First Boston Mortgage Securities Series 2002-AR31 CB1<sup>(d)</sup> |  | 7.0520 | &nbsp;&nbsp;&nbsp;11/25/32 | 57583 |
| 40866 | Credit Suisse First Boston Mortgage Securities Series 2003-8 CB2<sup>(d)</sup> |  | 5.6570 | &nbsp;&nbsp;&nbsp;04/25/33 | 38878 |
| 152533 | Credit Suisse First Boston Mortgage Securities Series AR26 9M3<sup>(c)</sup> | TSFR1M + 2.864% | 7.0220 | &nbsp;&nbsp;&nbsp;11/25/33 | 156303 |
| 500755 | Credit Suisse First Boston Mortgage Securities Series 2004-AR1 6M2<sup>(c)</sup> | TSFR1M + 2.214% | 6.3720 | &nbsp;&nbsp;&nbsp;02/25/34 | 569000 |
| 693258 | Credit Suisse First Boston Mortgage Securities Series 2004-FRE1 B3<sup>(c)</sup> | TSFR1M + 3.364% | 3.6050 | &nbsp;&nbsp;&nbsp;04/25/34 | 645081 |
| 50312 | Credit Suisse First Boston Mortgage Securities Series 2004-5 5A1 |  | 5.0000 | &nbsp;&nbsp;&nbsp;09/25/34 | 43212 |
| 677148 | Credit Suisse First Boston Mortgage Securities Series 2005-12 5A1 |  | 5.2500 | &nbsp;&nbsp;&nbsp;01/25/36 | 589989 |
| 1040 | Credit-Based Asset Servicing and Securitization Series 1999-3 A<sup>(b),(d)</sup> |  | 4.0940 | &nbsp;&nbsp;&nbsp;02/03/29 | 804 |
| 2663274 | Credit-Based Asset Servicing and Securitization Series CB1 B2<sup>(c)</sup> | TSFR1M + 5.889% | 10.0470 | &nbsp;&nbsp;&nbsp;02/25/30 | 2561167 |
| 876565 | Credit-Based Asset Servicing and Securitization Series 2002-CB2 M2<sup>(c)</sup> | TSFR1M + 2.064% | 6.2220 | &nbsp;&nbsp;&nbsp;04/25/32 | 921321 |
| 79456 | Credit-Based Asset Servicing and Securitization Series CB4 M1<sup>(c)</sup> | TSFR1M + 1.239% | 5.3970 | &nbsp;&nbsp;&nbsp;02/25/33 | 89013 |
| 4464000 | Credit-Based Asset Servicing and Securitization Series RP1 B3<sup>(b),(f)</sup> |  | 5.9000 | &nbsp;&nbsp;&nbsp;04/25/36 | 5056075 |
| 777553 | Credit-Based Asset Servicing and Securitization Series 2006-RP2 M1<sup>(b),(c)</sup> | TSFR1M + 1.164% | 5.3220 | &nbsp;&nbsp;&nbsp;07/25/36 | 860324 |
| 252549 | Credit-Based Asset Servicing and Securitization Series 2006-CB2 AF4<sup>(f)</sup> |  | 2.9980 | &nbsp;&nbsp;&nbsp;12/25/36 | 206800 |
| 712781 | Credit-Based Asset Servicing and Securitization Series 2007-SL1A A2<sup>(b),(c)</sup> | TSFR1M + 0.574% | 4.7320 | &nbsp;&nbsp;&nbsp;02/25/37 | 567503 |
| 134502 | Credit-Based Asset Servicing and Securitization Series 2007-SP1 M1<sup>(b),(f)</sup> |  | 4.2950 | &nbsp;&nbsp;&nbsp;12/25/37 | 210146 |
| 1014057 | Credit-Based Asset Servicing and Securitization Series 2004-RP1 M3<sup>(b),(c)</sup> | TSFR1M + 3.114% | 7.2720 | &nbsp;&nbsp;&nbsp;05/25/50 | 1012957 |
| 553042 | CSFB Mortgage-Backed Pass-Through Certificates Series 2005-AGE1 B3<sup>(c)</sup> | TSFR1M + 4.114% | 8.2720 | &nbsp;&nbsp;&nbsp;02/25/32 | 629670 |
| 502536 | CSFB Mortgage-Backed Pass-Through Certificates Series 2002-29 2B1 |  | 7.0000 | &nbsp;&nbsp;&nbsp;10/25/32 | 511455 |
| 23205 | CSFB Mortgage-Backed Pass-Through Certificates Series 2003-AR18 4M3<sup>(c)</sup> | TSFR1M + 3.014% | 7.1720 | &nbsp;&nbsp;&nbsp;07/25/33 | 22969 |
| 187278 | CSFB Mortgage-Backed Pass-Through Certificates Series 2003-27 8A1 |  | 6.0000 | &nbsp;&nbsp;&nbsp;11/25/33 | 191993 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** |
| **Principal Amount ($)** |  | **Spread** | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **ASSET BACKED SECURITIES — 79.0% (Continued)** | **ASSET BACKED SECURITIES — 79.0% (Continued)** |  |  |  |
|  | **NON-AGENCY RESIDENTIAL MORTGAGE BACKED SECURITIES** — **39.6% (Continued)** | **NON-AGENCY RESIDENTIAL MORTGAGE BACKED SECURITIES** — **39.6% (Continued)** |  |  |  |
| 477887 | CSFB Mortgage-Backed Pass-Through Certificates Series 2005-9 4A2<sup>(c)</sup> | TSFR1M + 0.464% | 4.6220 | &nbsp;&nbsp;&nbsp;10/25/35 | $404504 |
| 60882 | CSMC Series 2011-6R 4A2<sup>(b),(d)</sup> |  | 3.8430 | &nbsp;&nbsp;&nbsp;04/28/37 | 56698 |
| 1315757 | CSMC Mortgage-Backed Trust Series 2006-9 4A13 |  | 6.5000 | &nbsp;&nbsp;&nbsp;11/25/36 | 759146 |
| 512638 | CSMC Mortgage-Backed Trust Series 2007-1 5A13 |  | 6.0000 | &nbsp;&nbsp;&nbsp;02/25/37 | 275635 |
| 123667 | CSMC Mortgage-Backed Trust Series 2007-3 4A6<sup>(c)</sup> | TSFR1M + 0.364% | 4.5220 | &nbsp;&nbsp;&nbsp;04/25/37 | 95677 |
| 155636 | CSMC Mortgage-Backed Trust Series 2007-3 3A4 |  | 5.0000 | &nbsp;&nbsp;&nbsp;04/25/37 | 127784 |
| 2303021 | CSMC Mortgage-Backed Trust Series 2007-4 5A1 |  | 1.0480 | &nbsp;&nbsp;&nbsp;06/25/37 | 350238 |
| 168483 | CSMC Mortgage-Backed Trust Series 2007-4 1A1<sup>(c)</sup> | TSFR1M + 0.514% | 4.6720 | &nbsp;&nbsp;&nbsp;06/25/37 | 88111 |
| 1010644 | CWABS Asset-Backed Certificates Trust Series 2004-10 MV4<sup>(c)</sup> | TSFR1M + 1.689% | 3.9430 | &nbsp;&nbsp;&nbsp;12/25/34 | 933765 |
| 363522 | CWABS Asset-Backed Certificates Trust Series 2004-13 MF5<sup>(d)</sup> |  | 5.5680 | &nbsp;&nbsp;&nbsp;01/25/35 | 256347 |
| 1275267 | CWABS Asset-Backed Certificates Trust Series 2005-17 1AF4<sup>(f)</sup> |  | 3.6050 | &nbsp;&nbsp;&nbsp;05/25/36 | 1057996 |
| 1654695 | CWABS Asset-Backed Certificates Trust Series 2007-4 A5W<sup>(f)</sup> |  | 4.2630 | &nbsp;&nbsp;&nbsp;04/25/47 | 1374903 |
| 293047 | CWABS Inc Asset-Backed Certificates Series 2004-1 M1<sup>(c)</sup> | TSFR1M + 0.864% | 5.0220 | &nbsp;&nbsp;&nbsp;03/25/34 | 299961 |
| 8533 | CWABS Inc Asset-Backed Certificates Series 2004-1 M2<sup>(c)</sup> | TSFR1M + 0.939% | 5.0970 | &nbsp;&nbsp;&nbsp;03/25/34 | 13805 |
| 32187 | CWABS Revolving Home Equity Loan Trust Series 2004-O 2A<sup>(c)</sup> | TSFR1M + 0.394% | 4.5450 | &nbsp;&nbsp;&nbsp;02/15/34 | 31932 |
| 346473 | CWHEQ Home Equity Loan Trust Series 2006-S6 A5<sup>(d)</sup> |  | 5.9620 | &nbsp;&nbsp;&nbsp;03/25/34 | 332296 |
| 1027497 | CWHEQ Home Equity Loan Trust Series 2006-S5 A5 |  | 6.1550 | &nbsp;&nbsp;&nbsp;06/25/35 | 1589530 |
| 135342 | CWHEQ Home Equity Loan Trust Series 2006-S7 A5<sup>(d)</sup> |  | 5.9450 | &nbsp;&nbsp;&nbsp;11/25/35 | 136501 |
| 3676 | CWHEQ Revolving Home Equity Loan Trust Series H 2A<sup>(c)</sup> | TSFR1M + 0.354% | 4.5050 | &nbsp;&nbsp;&nbsp;12/15/35 | 3675 |
| 326567 | CWHEQ Revolving Home Equity Loan Trust Series 2005-K 2A4<sup>(c)</sup> | TSFR1M + 0.454% | 4.6050 | &nbsp;&nbsp;&nbsp;02/15/36 | 308305 |
| 4594563 | CWHEQ Revolving Home Equity Loan Trust Series 2006-I 2A<sup>(c)</sup> | TSFR1M + 0.254% | 4.4050 | &nbsp;&nbsp;&nbsp;01/15/37 | 4405135 |
| 249089 | CWHEQ Revolving Home Equity Loan Trust Series Series D 2A<sup>(c)</sup> | TSFR1M + 0.304% | 4.4550 | &nbsp;&nbsp;&nbsp;11/15/35 | 231972 |
| 2018184 | CWHEQ Revolving Home Equity Loan Trust Series Series B A<sup>(c)</sup> | TSFR1M + 0.264% | 4.4150 | &nbsp;&nbsp;&nbsp;02/15/37 | 1905644 |
| 350714 | CWHEQ Revolving Home Equity Loan Trust Series Series A A<sup>(c)</sup> | TSFR1M + 0.234% | 4.3850 | &nbsp;&nbsp;&nbsp;04/15/37 | 332141 |
| 919093 | Deutsche Alt-A Securities Mortgage Loan Trust Series 2007-1 1A4A<sup>(c)</sup> | TSFR1M + 0.334% | 4.4920 | &nbsp;&nbsp;&nbsp;08/25/37 | 804412 |
| 90283 | Deutsche Alt-B Securities Mortgage Loan Trust Series 2006-AB1 A3<sup>(f)</sup> |  | 6.3650 | &nbsp;&nbsp;&nbsp;02/25/36 | 84884 |
| 129956 | Deutsche Alt-B Securities, Inc. Mortgage Loan Trust Series 2006-AB2 A3<sup>(d)</sup> |  | 4.6870 | &nbsp;&nbsp;&nbsp;06/25/36 | 119951 |
| 1122279 | Deutsche Financial Capital Securitization, LLC Series 1998-I B1 |  | 7.2750 | &nbsp;&nbsp;&nbsp;04/15/28 | 1117818 |
| 679419 | Deutsche Mortgage Securities, Inc. Mortgage Loan Series 2006-PR1 3AF1<sup>(b),(c)</sup> | TSFR1M + 0.394% | 4.5450 | &nbsp;&nbsp;&nbsp;04/15/36 | 625968 |
| 1716853 | Deutsche Mortgage Securities, Inc. Mortgage Loan Series 2006-PR1 3AF2<sup>(b),(c)</sup> | TSFR1M + 0.394% | 4.5450 | &nbsp;&nbsp;&nbsp;04/15/36 | 1581785 |
| 607609 | Deutsche Mortgage Securities, Inc. Mortgage Loan Series 2006-PR1 4AF1<sup>(b),(c)</sup> | TSFR1M + 0.404% | 4.5550 | &nbsp;&nbsp;&nbsp;04/15/36 | 561893 |
| 25895 | Deutsche Mortgage Securities, Inc. Mortgage Loan Trust Series 2004-1 B2<sup>(d)</sup> |  | 5.5000 | &nbsp;&nbsp;&nbsp;09/25/33 | 25357 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** |
| **Principal Amount ($)** |  | **Spread** | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **ASSET BACKED SECURITIES — 79.0% (Continued)** | **ASSET BACKED SECURITIES — 79.0% (Continued)** |  |  |  |
|  | **NON-AGENCY RESIDENTIAL MORTGAGE BACKED SECURITIES** — **39.6% (Continued)** | **NON-AGENCY RESIDENTIAL MORTGAGE BACKED SECURITIES** — **39.6% (Continued)** |  |  |  |
| 135820 | DSLA Mortgage Loan Trust Series 2004-AR1 A2B<sup>(c)</sup> | TSFR1M + 0.954% | 5.0880 | &nbsp;&nbsp;&nbsp;09/19/44 | $120882 |
| 834221 | DSLA Mortgage Loan Trust Series 2004-AR2 A1B<sup>(c)</sup> | TSFR1M + 0.914% | 5.0480 | &nbsp;&nbsp;&nbsp;11/19/44 | 724812 |
| 554926 | DSLA Mortgage Loan Trust Series 2004-AR2 A2B<sup>(c)</sup> | TSFR1M + 0.914% | 5.0480 | &nbsp;&nbsp;&nbsp;11/19/44 | 512071 |
| 1512757 | DSLA Mortgage Loan Trust Series 2005-AR3 2A1B<sup>(c)</sup> | TSFR1M + 0.594% | 4.7280 | &nbsp;&nbsp;&nbsp;07/19/45 | 1386050 |
| 3792810 | DSLA Mortgage Loan Trust Series 2007-AR1 1A1B<sup>(c)</sup> | TSFR1M + 0.254% | 4.3880 | &nbsp;&nbsp;&nbsp;04/19/47 | 2963832 |
| 209774 | Equity One Mortgage Pass-Through Trust Series 2002-1 M1<sup>(d)</sup> |  | 6.2820 | &nbsp;&nbsp;&nbsp;08/25/32 | 208367 |
| 209469 | Finance America Mortgage Loan Trust Series 2004-3 M2<sup>(c)</sup> | TSFR1M + 1.059% | 5.2170 | &nbsp;&nbsp;&nbsp;11/25/34 | 195701 |
| 195762 | Finance America Mortgage Loan Trust Series 2004-3 M3<sup>(c)</sup> | TSFR1M + 1.134% | 5.2920 | &nbsp;&nbsp;&nbsp;11/25/34 | 177687 |
| 248998 | First Franklin Mortgage Loan Trust Series 2002-FF1 M2<sup>(c)</sup> | TSFR1M + 1.914% | 6.0720 | &nbsp;&nbsp;&nbsp;04/25/32 | 250064 |
| 9240 | First Franklin Mortgage Loan Trust Series 2003-FFB X<sup>(d),(g)</sup> |  | 0.0000 | &nbsp;&nbsp;&nbsp;02/25/33 | 9000 |
| 893839 | First Franklin Mortgage Loan Trust Series 2003-FF1<sup>(c)</sup> | TSFR1M + 2.739% | 6.8970 | &nbsp;&nbsp;&nbsp;03/25/33 | 1195897 |
| 397650 | First Franklin Mortgage Loan Trust Series 2003-FF4 M1<sup>(c)</sup> | TSFR1M + 1.914% | 6.1950 | &nbsp;&nbsp;&nbsp;10/25/33 | 395804 |
| 157074 | First Franklin Mortgage Loan Trust Series 2004-FF2 M5<sup>(c)</sup> | TSFR1M + 1.614% | 5.7720 | &nbsp;&nbsp;&nbsp;03/25/34 | 154403 |
| 4807869 | First Franklin Mortgage Loan Trust Series 2004-FFH2 M4<sup>(c)</sup> | TSFR1M + 1.689% | 5.8470 | &nbsp;&nbsp;&nbsp;06/25/34 | 4357481 |
| 1053418 | First Franklin Mortgage Loan Trust Series 2004-FFH3 M4<sup>(c)</sup> | TSFR1M + 1.719% | 6.0400 | &nbsp;&nbsp;&nbsp;10/25/34 | 887056 |
| 35943 | First Franklin Mortgage Loan Trust Series 2004-FFA X<sup>(b),(g)</sup> |  | 0.0000 | &nbsp;&nbsp;&nbsp;04/25/38 | 35000 |
| 135097 | First Horizon Alternative Mortgage Securities Series 2004-AA5 2A1<sup>(d)</sup> |  | 5.0830 | &nbsp;&nbsp;&nbsp;12/25/34 | 128479 |
| 333637 | First Horizon Alternative Mortgage Securities Series 2004-AA7 1A1<sup>(d)</sup> |  | 4.5530 | &nbsp;&nbsp;&nbsp;02/25/35 | 309595 |
| 24080 | First Horizon Alternative Mortgage Securities Series 2005-AA1 1A1<sup>(d)</sup> |  | 4.6400 | &nbsp;&nbsp;&nbsp;03/25/35 | 13528 |
| 1725535 | First Horizon Alternative Mortgage Securities Series 2005-AA3 2A1<sup>(d)</sup> |  | 3.2450 | &nbsp;&nbsp;&nbsp;05/25/35 | 811471 |
| 170258 | First Horizon Alternative Mortgage Securities Series 2005-AA5 1A1<sup>(d)</sup> |  | 5.4740 | &nbsp;&nbsp;&nbsp;07/25/35 | 87912 |
| 1112 | First Horizon Alternative Mortgage Securities Series 2006-AA4 1A1<sup>(d),(g)</sup> |  | 0.0000 | &nbsp;&nbsp;&nbsp;07/25/36 |  |
| 11105 | First Horizon Mortgage Pass-Through Trust Series 2000-H 4B2<sup>(d)</sup> |  | 6.3660 | &nbsp;&nbsp;&nbsp;05/25/30 | 10909 |
| 13500 | First Horizon Mortgage Pass-Through Trust Series 2000-H 3B1<sup>(d)</sup> |  | 6.4650 | &nbsp;&nbsp;&nbsp;05/25/30 | 13398 |
| 142573 | First Horizon Mortgage Pass-Through Trust Series 2004-FL1 1A1<sup>(c)</sup> | TSFR1M + 0.384% | 4.5420 | &nbsp;&nbsp;&nbsp;02/25/35 | 131715 |
| 151755 | First Horizon Mortgage Pass-Through Trust Series 2005-AR4 2A1<sup>(d)</sup> |  | 4.7470 | &nbsp;&nbsp;&nbsp;10/25/35 | 138979 |
| 576736 | First Horizon Mortgage Pass-Through Trust Series 2005-AR6 3A1<sup>(d)</sup> |  | 7.0000 | &nbsp;&nbsp;&nbsp;01/25/36 | 437926 |
| 459414 | First Horizon Mortgage Pass-Through Trust Series 2006-AR3 3A1<sup>(d)</sup> |  | 3.5150 | &nbsp;&nbsp;&nbsp;10/25/36 | 362105 |
| 352250 | First Horizon Mortgage Pass-Through Trust Series 2004-AR1 3A1<sup>(d)</sup> |  | 2.9890 | &nbsp;&nbsp;&nbsp;05/25/37 | 288187 |
| 31135 | First Horizon Mortgage Pass-Through Trust Series 2007-AR2 2A1<sup>(d)</sup> |  | 2.1610 | &nbsp;&nbsp;&nbsp;07/25/37 | 14899 |
| 148033 | FirstCity Capital Home Equity Loan Trust Series 1998-2 A3<sup>(b),(c)</sup> | TSFR1M + 1.714% | 5.8720 | &nbsp;&nbsp;&nbsp;01/25/29 | 148217 |
| 267008 | FirstCity Capital Home Equity Loan Trust Series 1998-2 A1<sup>(b)</sup> |  | 6.9900 | &nbsp;&nbsp;&nbsp;01/25/29 | 268051 |
| 662591 | Floating Rate Mortgage Pass-through Certificates Series 2 M3<sup>(c)</sup> | TSFR1M + 3.039% | 7.1970 | &nbsp;&nbsp;&nbsp;10/25/31 | 739371 |
| 182226 | Fremont Home Loan Trust Series 1999-3 A1<sup>(c)</sup> | TSFR1M + 0.824% | 4.9820 | &nbsp;&nbsp;&nbsp;12/25/29 | 178360 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** |
| **Principal Amount ($)** |  | **Spread** | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **ASSET BACKED SECURITIES — 79.0% (Continued)** | **ASSET BACKED SECURITIES — 79.0% (Continued)** |  |  |  |
|  | **NON-AGENCY RESIDENTIAL MORTGAGE BACKED SECURITIES** — **39.6% (Continued)** | **NON-AGENCY RESIDENTIAL MORTGAGE BACKED SECURITIES** — **39.6% (Continued)** |  |  |  |
| 189542 | Fremont Home Loan Trust Series 1999-3 A2<sup>(c)</sup> | TSFR1M + 0.904% | 5.0620 | &nbsp;&nbsp;&nbsp;12/25/29 | $185073 |
| 1084525 | Fremont Home Loan Trust Series 2002-2 M1<sup>(c)</sup> | TSFR1M + 1.839% | 5.9970 | &nbsp;&nbsp;&nbsp;10/25/33 | 1315341 |
| 35506 | Fremont Home Loan Trust Series 2004-B M7<sup>(c)</sup> | TSFR1M + 3.114% | 7.2720 | &nbsp;&nbsp;&nbsp;05/25/34 | 31641 |
| 4659 | Fremont Home Loan Trust Series 2005-A M3<sup>(c)</sup> | TSFR1M + 0.849% | 5.0070 | &nbsp;&nbsp;&nbsp;01/25/35 | 4618 |
| 162449 | Global Mortgage Securitization Ltd. Series 2004-A A2<sup>(b),(c)</sup> | TSFR1M + 0.434% | 4.5920 | &nbsp;&nbsp;&nbsp;11/25/32 | 160398 |
| 840780 | GMACM Home Equity Loan Trust Series 2004-HE3 A2VN<sup>(b),(c)</sup> | TSFR1M + 0.614% | 4.7720 | &nbsp;&nbsp;&nbsp;10/25/34 | 800072 |
| 9132 | GMACM Home Equity Loan Trust Series 2005-HE1 A1VN<sup>(b),(c)</sup> | TSFR1M + 0.614% | 4.7720 | &nbsp;&nbsp;&nbsp;08/25/35 | 4483 |
| 779391 | GMACM Home Equity Loan Trust Series 2005-HE3 A1VN<sup>(b),(c)</sup> | TSFR1M + 0.614% | 4.7720 | &nbsp;&nbsp;&nbsp;02/25/36 | 721079 |
| 756885 | GMACM Home Equity Loan Trust Series 2007-HE2 A1<sup>(c)</sup> | TSFR1M + 0.254% | 4.4120 | &nbsp;&nbsp;&nbsp;12/25/37 | 704888 |
| 574330 | GMACM Home Equity Loan Trust Series 2007-HE2 A4<sup>(f)</sup> |  | 7.4240 | &nbsp;&nbsp;&nbsp;12/25/37 | 566199 |
| 108825 | GMACM Mortgage Loan Trust Series 2004-J2 A9<sup>(h)</sup> |  | 0.0000 | &nbsp;&nbsp;&nbsp;06/25/34 | 93057 |
| 1608926 | GMACM Mortgage Loan Trust Series 2005-AR4 3A1<sup>(d)</sup> |  | 3.6970 | &nbsp;&nbsp;&nbsp;07/19/35 | 1380903 |
| 519439 | GMACM Mortgage Loan Trust Series 2004-GH1 B<sup>(f)</sup> |  | 5.5000 | &nbsp;&nbsp;&nbsp;07/25/35 | 381729 |
| 272150 | GMACM Mortgage Loan Trust Series 2005-AR6 3A1<sup>(d)</sup> |  | 3.7630 | &nbsp;&nbsp;&nbsp;11/19/35 | 238173 |
| 611985 | GreenPoint Mortgage Funding Trust Series 2006-AR2 4A1<sup>(c)</sup> | 12MTA + 2.000% | 6.1530 | &nbsp;&nbsp;&nbsp;03/25/36 | 555843 |
| 57232 | GreenPoint Mortgage Funding Trust Series 2006-AR3 4A1<sup>(c)</sup> | TSFR1M + 0.534% | 4.6920 | &nbsp;&nbsp;&nbsp;04/25/36 | 51312 |
| 230353 | GreenPoint Mortgage Funding Trust Series 2005-AR4 1A1<sup>(c)</sup> | TSFR1M + 0.634% | 4.7920 | &nbsp;&nbsp;&nbsp;10/25/45 | 226362 |
| 252490 | GreenPoint Mortgage Funding Trust Series 2005-AR4 3A1<sup>(c)</sup> | 12MTA + 1.400% | 5.5530 | &nbsp;&nbsp;&nbsp;10/25/45 | 201211 |
| 191151 | GreenPoint Mortgage Funding Trust Series 2005-AR5 3A1<sup>(c)</sup> | TSFR1M + 0.674% | 4.8320 | &nbsp;&nbsp;&nbsp;11/25/45 | 142130 |
| 1431426 | GreenPoint Mortgage Loan Trust Series 2004-1 A<sup>(c)</sup> | TSFR1M + 1.264% | 5.4220 | &nbsp;&nbsp;&nbsp;10/25/34 | 1210072 |
| 312037 | GreenPoint MTA Trust Series 2005-AR3 1A1<sup>(c)</sup> | TSFR1M + 0.594% | 4.7520 | &nbsp;&nbsp;&nbsp;08/25/45 | 263886 |
| 1541143 | GSAA Home Equity Trust Series 2004-5 M2<sup>(f)</sup> |  | 4.3110 | &nbsp;&nbsp;&nbsp;06/25/34 | 1380635 |
| 165126 | GSAA Home Equity Trust Series 2005-3 B1<sup>(c)</sup> | TSFR1M + 1.989% | 6.1470 | &nbsp;&nbsp;&nbsp;12/25/34 | 164497 |
| 953375 | GSAA Home Equity Trust Series 2005-2 B3<sup>(c)</sup> | TSFR1M + 3.564% | 7.7220 | &nbsp;&nbsp;&nbsp;12/25/34 | 898594 |
| 575421 | GSAA Home Equity Trust Series 2005-9 M2<sup>(c)</sup> | TSFR1M + 0.864% | 5.0220 | &nbsp;&nbsp;&nbsp;08/25/35 | 576559 |
| 309422 | GSAA Home Equity Trust Series 2007-7 A4<sup>(c)</sup> | TSFR1M + 0.654% | 4.8120 | &nbsp;&nbsp;&nbsp;07/25/37 | 299800 |
| 75703 | GSAMP Trust Series 2004-HE1 M1<sup>(c)</sup> | TSFR1M + 0.939% | 5.0970 | &nbsp;&nbsp;&nbsp;05/25/34 | 70191 |
| 1198286 | GSAMP Trust Series 2004-SD1 M2<sup>(c)</sup> | TSFR1M + 2.514% | 6.6720 | &nbsp;&nbsp;&nbsp;06/25/34 | 1079221 |
| 3806171 | GSAMP Trust Series 2004-AR2 M2<sup>(c)</sup> | TSFR1M + 1.014% | 5.1720 | &nbsp;&nbsp;&nbsp;08/25/34 | 4055812 |
| 140046 | GSMPS Mortgage Loan Trust Series 1998-2 A<sup>(b),(d)</sup> |  | 7.7500 | &nbsp;&nbsp;&nbsp;05/19/27 | 122275 |
| 48560 | GSMPS Mortgage Loan Trust Series 1998-3 A<sup>(b),(d)</sup> |  | 5.1250 | &nbsp;&nbsp;&nbsp;09/19/27 | 47043 |
| 41172 | GSMPS Mortgage Loan Trust Series 1998-1 A<sup>(b),(d)</sup> |  | 8.0000 | &nbsp;&nbsp;&nbsp;09/19/27 | 40271 |
| 109006 | GSMPS Mortgage Loan Trust Series 1999-2 A<sup>(b),(d)</sup> |  | 8.0000 | &nbsp;&nbsp;&nbsp;09/19/27 | 108521 |
| 290983 | GSMPS Mortgage Loan Trust Series 2001-2 A<sup>(b),(d)</sup> |  | 7.5000 | &nbsp;&nbsp;&nbsp;06/19/32 | 285206 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** |
| **Principal Amount ($)** |  | **Spread** | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **ASSET BACKED SECURITIES — 79.0% (Continued)** | **ASSET BACKED SECURITIES — 79.0% (Continued)** |  |  |  |
|  | **NON-AGENCY RESIDENTIAL MORTGAGE BACKED SECURITIES** — **39.6% (Continued)** | **NON-AGENCY RESIDENTIAL MORTGAGE BACKED SECURITIES** — **39.6% (Continued)** |  |  |  |
| 82682 | GSR Mortgage Loan Trust Series 2003-1 B1<sup>(d)</sup> |  | 5.7610 | &nbsp;&nbsp;&nbsp;03/25/33 | $78388 |
| 8655 | GSR Mortgage Loan Trust Series 2003-1 A2<sup>(c)</sup> | H15T1Y + 1.750% | 5.8800 | &nbsp;&nbsp;&nbsp;03/25/33 | 8652 |
| 63798 | GSR Mortgage Loan Trust Series 2003-3F B3<sup>(d)</sup> |  | 5.9290 | &nbsp;&nbsp;&nbsp;04/25/33 | 60400 |
| 141551 | GSR Mortgage Loan Trust Series 2003-4F B3<sup>(d)</sup> |  | 5.8940 | &nbsp;&nbsp;&nbsp;05/25/33 | 143398 |
| 36219 | GSR Mortgage Loan Trust Series 2003-9 A2<sup>(c)</sup> | TSFR12M + 2.465% | 6.2240 | &nbsp;&nbsp;&nbsp;08/25/33 | 35677 |
| 28007 | GSR Mortgage Loan Trust Series 2004-15F 3A1<sup>(c)</sup> | TSFR1M + 0.414% | 4.5720 | &nbsp;&nbsp;&nbsp;12/25/34 | 25586 |
| 211758 | GSR Mortgage Loan Trust Series 2005-1F 4A1<sup>(c)</sup> | TSFR1M + 0.414% | 4.5720 | &nbsp;&nbsp;&nbsp;01/25/35 | 197421 |
| 51194 | GSR Mortgage Loan Trust Series 2005-7F 2A6 |  | 5.5000 | &nbsp;&nbsp;&nbsp;09/25/35 | 50882 |
| 87275 | GSR Mortgage Loan Trust Series 2005-AR5 1A1<sup>(d)</sup> |  | 6.1720 | &nbsp;&nbsp;&nbsp;10/25/35 | 83338 |
| 200938 | GSR Mortgage Loan Trust Series 2005-AR7 5A1<sup>(d)</sup> |  | 4.6040 | &nbsp;&nbsp;&nbsp;11/25/35 | 169683 |
| 959677 | GSR Mortgage Loan Trust Series 2005-8F 2A6 |  | 5.5000 | &nbsp;&nbsp;&nbsp;11/25/35 | 921078 |
| 415764 | GSR Mortgage Loan Trust Series 2005-8F 2A4 |  | 5.5000 | &nbsp;&nbsp;&nbsp;11/25/35 | 400931 |
| 311538 | GSR Mortgage Loan Trust Series 2005-8F 2A1 |  | 5.5000 | &nbsp;&nbsp;&nbsp;11/25/35 | 300424 |
| 1026456 | GSR Mortgage Loan Trust Series 2006-2F 1A1 |  | 5.0000 | &nbsp;&nbsp;&nbsp;02/25/36 | 946297 |
| 157685 | GSR Mortgage Loan Trust Series 2006-1F 1A6<sup>(c)</sup> | TSFR1M + 1.064% | 5.2220 | &nbsp;&nbsp;&nbsp;02/25/36 | 1236468 |
| 705335 | GSR Mortgage Loan Trust Series 2006-1F 4A1 |  | 5.5000 | &nbsp;&nbsp;&nbsp;02/25/36 | 503979 |
| 7056 | GSR Mortgage Loan Trust Series 2006-1F 1A3 |  | 5.5000 | &nbsp;&nbsp;&nbsp;02/25/36 | 55204 |
| 4612 | GSR Mortgage Loan Trust Series 2006-1F 1A9 |  | 5.5000 | &nbsp;&nbsp;&nbsp;02/25/36 | 23902 |
| 1203458 | GSR Mortgage Loan Trust Series 2006-2F 2A13 |  | 5.7500 | &nbsp;&nbsp;&nbsp;02/25/36 | 1053547 |
| 1422005 | GSR Mortgage Loan Trust Series 2006-2F 2A17 |  | 5.7500 | &nbsp;&nbsp;&nbsp;02/25/36 | 1244871 |
| 100 | GSR Mortgage Loan Trust Series 2006-4F 5A11 |  | 5.5000 | &nbsp;&nbsp;&nbsp;05/25/36 | 710000 |
| 100 | GSR Mortgage Loan Trust Series 2006-4F 2A11 |  | 5.5000 | &nbsp;&nbsp;&nbsp;05/25/36 | 540000 |
| 200 | GSR Mortgage Loan Trust Series 2006-4F 2A2 |  | 5.5000 | &nbsp;&nbsp;&nbsp;05/25/36 | 939000 |
| 38331 | GSR Mortgage Loan Trust Series 2006-5F 2A4 |  | 6.0000 | &nbsp;&nbsp;&nbsp;06/25/36 | 100636 |
| 204027 | GSR Mortgage Loan Trust Series 2006-5F 2A2 |  | 6.0000 | &nbsp;&nbsp;&nbsp;06/25/36 | 535672 |
| 103547 | GSR Mortgage Loan Trust Series 2006-5F 2A1 |  | 6.0000 | &nbsp;&nbsp;&nbsp;06/25/36 | 271860 |
| 9191 | GSR Mortgage Loan Trust Series 2006-7F 2A1 |  | 6.0000 | &nbsp;&nbsp;&nbsp;08/25/36 | 1575000 |
| 16441 | GSR Mortgage Loan Trust Series 2006-10F 2A1 |  | 5.7500 | &nbsp;&nbsp;&nbsp;12/25/36 | 1290000 |
| 84186 | GSR Mortgage Loan Trust Series 2007-1F 2A4 |  | 5.5000 | &nbsp;&nbsp;&nbsp;01/25/37 | 178626 |
| 150781 | GSR Mortgage Loan Trust Series 2007-1F 2A2 |  | 5.5000 | &nbsp;&nbsp;&nbsp;01/25/37 | 725410 |
| 737176 | GSR Mortgage Loan Trust Series 2007-1F 3A1 |  | 6.0000 | &nbsp;&nbsp;&nbsp;01/25/37 | 436361 |
| 411259 | GSR Mortgage Loan Trust Series 2007-AR1 3A1<sup>(d)</sup> |  | 4.0350 | &nbsp;&nbsp;&nbsp;03/25/37 | 356875 |
| 1102006 | GSR Mortgage Loan Trust Series 2007-AR1 1A1<sup>(d)</sup> |  | 4.1650 | &nbsp;&nbsp;&nbsp;03/25/37 | 535194 |
| 171627 | GSR Mortgage Loan Trust Series 2007-AR2 5A1A<sup>(d)</sup> |  | 5.7240 | &nbsp;&nbsp;&nbsp;05/25/37 | 156964 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** |
| **Principal Amount ($)** |  | **Spread** | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **ASSET BACKED SECURITIES — 79.0% (Continued)** | **ASSET BACKED SECURITIES — 79.0% (Continued)** |  |  |  |
|  | **NON-AGENCY RESIDENTIAL MORTGAGE BACKED SECURITIES** — **39.6% (Continued)** | **NON-AGENCY RESIDENTIAL MORTGAGE BACKED SECURITIES** — **39.6% (Continued)** |  |  |  |
| 52449 | GSR Mortgage Loan Trust Series 2007-3F 2A1 |  | 5.7500 | &nbsp;&nbsp;&nbsp;05/25/37 | $2947751 |
| 23764 | GSR Mortgage Loan Trust Series 2007-4F 1A1 |  | 5.0000 | &nbsp;&nbsp;&nbsp;07/25/37 | 57096 |
| 1497776 | GSR Mortgage Loan Trust Series 2007-4F 2A1 |  | 5.7500 | &nbsp;&nbsp;&nbsp;07/25/37 | 3273380 |
| 45697 | HarborView Mortgage Loan Trust Series 2003-1 B1<sup>(d)</sup> |  | 5.0850 | &nbsp;&nbsp;&nbsp;05/19/33 | 34651 |
| 458921 | HarborView Mortgage Loan Trust Series 2003-1 A<sup>(d)</sup> |  | 5.0850 | &nbsp;&nbsp;&nbsp;05/19/33 | 421001 |
| 221134 | HarborView Mortgage Loan Trust Series 2004-1 B1<sup>(d)</sup> |  | 5.8290 | &nbsp;&nbsp;&nbsp;04/19/34 | 156031 |
| 681846 | HarborView Mortgage Loan Trust Series 2004-8 3A2<sup>(c)</sup> | TSFR1M + 0.914% | 5.0480 | &nbsp;&nbsp;&nbsp;11/19/34 | 578469 |
| 62903 | HarborView Mortgage Loan Trust Series 2004-9 4A2<sup>(c)</sup> | TSFR1M + 0.894% | 5.0280 | &nbsp;&nbsp;&nbsp;12/19/34 | 53793 |
| 3111520 | HarborView Mortgage Loan Trust Series 2005-2 1A<sup>(c)</sup> | TSFR1M + 0.634% | 1.1920 | &nbsp;&nbsp;&nbsp;05/19/35 | 851610 |
| 1823167 | HarborView Mortgage Loan Trust Series 2005-16 4A1B<sup>(c)</sup> | 12MTA + 2.000% | 6.1530 | &nbsp;&nbsp;&nbsp;01/19/37 | 1429463 |
| 18412 | Home Equity Asset Trust Series 2002-2 B1<sup>(c)</sup> | TSFR1M + 2.714% | 6.8720 | &nbsp;&nbsp;&nbsp;06/25/32 | 36472 |
| 358059 | Home Equity Asset Trust Series 2002-5 B1<sup>(c)</sup> | TSFR1M + 4.364% | 8.5220 | &nbsp;&nbsp;&nbsp;05/25/33 | 381654 |
| 160222 | Home Equity Asset Trust Series 2003-1 B2<sup>(c)</sup> | TSFR1M + 4.864% | 9.0220 | &nbsp;&nbsp;&nbsp;06/25/33 | 1277296 |
| 96264 | Home Equity Asset Trust Series 2003-8 B2<sup>(c)</sup> | TSFR1M + 3.364% | 7.5220 | &nbsp;&nbsp;&nbsp;04/25/34 | 143365 |
| 41806 | Home Equity Asset Trust Series 2004-3 B1<sup>(c)</sup> | US0001M + 2.600% | 6.8720 | &nbsp;&nbsp;&nbsp;08/25/34 | 350604 |
| 3094192 | Home Equity Asset Trust Series 2004-5 M6<sup>(c)</sup> | TSFR1M + 2.064% | 6.2220 | &nbsp;&nbsp;&nbsp;11/25/34 | 3328145 |
| 3766672 | Home Equity Asset Trust Series 2007-3 M1<sup>(c)</sup> | TSFR1M + 0.639% | 4.7970 | &nbsp;&nbsp;&nbsp;08/25/37 | 4628628 |
| 205436 | Home Equity Mortgage Loan Asset-Backed Trust Series C MV1<sup>(c)</sup> | TSFR1M + 0.784% | 4.5590 | &nbsp;&nbsp;&nbsp;12/25/31 | 371508 |
| 451374 | Home Equity Mortgage Loan Asset-Backed Trust Series C AV<sup>(c)</sup> | TSFR1M + 0.364% | 4.5590 | &nbsp;&nbsp;&nbsp;12/25/31 | 437119 |
| 100 | Home Equity Mortgage Loan Asset-Backed Trust Series A MF2<sup>(f)</sup> |  | 6.0980 | &nbsp;&nbsp;&nbsp;10/25/32 | 410000 |
| 187292 | Home Equity Mortgage Loan Asset-Backed Trust Series 2002-B M1<sup>(c)</sup> | TSFR1M + 1.539% | 5.6970 | &nbsp;&nbsp;&nbsp;10/25/33 | 189764 |
| 53360 | Home Equity Mortgage Loan Asset-Backed Trust Series 2004-A M2<sup>(c)</sup> | TSFR1M + 2.139% | 3.5220 | &nbsp;&nbsp;&nbsp;07/25/34 | 51441 |
| 173434 | Home Equity Mortgage Trust Series 2007-1 A1<sup>(c)</sup> | TSFR1M + 0.454% | 4.6120 | &nbsp;&nbsp;&nbsp;05/25/37 | 167399 |
| 294333 | IMC Home Equity Loan Trust Series 1996-2 A7 |  | 7.9500 | &nbsp;&nbsp;&nbsp;07/25/26 | 293856 |
| 440711 | IMC Home Equity Loan Trust Series 1998-3 A7<sup>(f)</sup> |  | 5.4320 | &nbsp;&nbsp;&nbsp;08/20/29 | 435976 |
| 35465 | IMC Home Equity Loan Trust Series 1998-5 A5<sup>(f)</sup> |  | 5.2790 | &nbsp;&nbsp;&nbsp;12/20/29 | 35420 |
| 59518 | Impac CMB Trust Series 2004-10 3A2<sup>(c)</sup> | TSFR1M + 0.914% | 5.0720 | &nbsp;&nbsp;&nbsp;03/25/35 | 57618 |
| 168814 | Impac CMB Trust Series 2005-4 2A1<sup>(c)</sup> | TSFR1M + 0.414% | 4.8720 | &nbsp;&nbsp;&nbsp;05/25/35 | 161635 |
| 114678 | Impac CMB Trust Series 2005-4 2A2<sup>(c)</sup> | TSFR1M + 0.494% | 5.0320 | &nbsp;&nbsp;&nbsp;05/25/35 | 110928 |
| 520309 | Impac CMB Trust Series 2005-4 2B1<sup>(c)</sup> | TSFR1M + 1.764% | 6.7470 | &nbsp;&nbsp;&nbsp;05/25/35 | 563699 |
| 458142 | Impac CMB Trust Series 2005-7 A1<sup>(c)</sup> | TSFR1M + 0.634% | 4.7920 | &nbsp;&nbsp;&nbsp;11/25/35 | 414340 |
| 146485 | Impac Secured Assets CMN Owner Trust Series 2003-3 M1<sup>(d)</sup> |  | 5.2370 | &nbsp;&nbsp;&nbsp;08/25/33 | 143733 |
| 107163 | Impac Secured Assets CMN Owner Trust Series 2005-1 4A<sup>(d)</sup> |  | 5.9390 | &nbsp;&nbsp;&nbsp;07/25/35 | 102680 |
| 96711 | IndyMac ARM Trust Series 2001-H1 1A<sup>(d)</sup> |  | 5.8220 | &nbsp;&nbsp;&nbsp;08/25/31 | 51352 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** |
| **Principal Amount ($)** |  | **Spread** | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **ASSET BACKED SECURITIES — 79.0% (Continued)** | **ASSET BACKED SECURITIES — 79.0% (Continued)** |  |  |  |
|  | **NON-AGENCY RESIDENTIAL MORTGAGE BACKED SECURITIES** — **39.6% (Continued)** | **NON-AGENCY RESIDENTIAL MORTGAGE BACKED SECURITIES** — **39.6% (Continued)** |  |  |  |
| 66206 | IndyMac IMSC Mortgage Loan Trust Series 2007-F3 PO<sup>(h)</sup> |  | 0.0000 | &nbsp;&nbsp;&nbsp;09/25/37 | $39396 |
| 2449005 | IndyMac INDA Mortgage Loan Trust Series 2005-AR2 3A1<sup>(d)</sup> |  | 4.5000 | &nbsp;&nbsp;&nbsp;01/25/36 | 2240264 |
| 14520 | IndyMac INDA Mortgage Loan Trust Series 2005-AR2 2A1<sup>(d)</sup> |  | 5.4990 | &nbsp;&nbsp;&nbsp;01/25/36 | 13682 |
| 59096 | IndyMac INDA Mortgage Loan Trust Series 2007-AR4 3A1<sup>(d)</sup> |  | 4.4490 | &nbsp;&nbsp;&nbsp;08/25/37 | 55778 |
| 1287941 | IndyMac INDX Mortgage Loan Trust Series 2005-AR9 2A1<sup>(d)</sup> |  | 4.4720 | &nbsp;&nbsp;&nbsp;07/25/35 | 1212160 |
| 400785 | IndyMac INDX Mortgage Loan Trust Series 2006-AR25 2A1<sup>(d)</sup> |  | 3.5450 | &nbsp;&nbsp;&nbsp;09/25/36 | 366322 |
| 306432 | Irwin Home Equity Loan Trust Series 2006-P1 1A<sup>(b),(c)</sup> | TSFR1M + 0.394% | 4.5520 | &nbsp;&nbsp;&nbsp;12/25/36 | 298845 |
| 150026 | Irwin Home Equity Loan Trust Series 2006-P1 2A3<sup>(b),(f)</sup> |  | 6.3000 | &nbsp;&nbsp;&nbsp;06/25/37 | 149408 |
| 716736 | Jefferies Resecuritization Trust Series 2009-R6 7A5<sup>(b),(d)</sup> |  | 5.5610 | &nbsp;&nbsp;&nbsp;08/26/35 | 680656 |
| 284271 | Jefferies Resecuritization Trust Series 2009-R7 6A2<sup>(b),(d)</sup> |  | 4.5950 | &nbsp;&nbsp;&nbsp;10/21/35 | 285926 |
| 243180 | JP Morgan Alternative Loan Trust Series 2005-S1 2A1 |  | 5.0000 | &nbsp;&nbsp;&nbsp;12/25/35 | 153498 |
| 307506 | JP Morgan Mortgage Trust Series 2004-S2 2A13<sup>(c)</sup> | TSFR1M + 0.514% | 4.6720 | &nbsp;&nbsp;&nbsp;11/25/34 | 289360 |
| 168476 | JP Morgan Mortgage Trust Series 2004-S2 4A5 |  | 6.0000 | &nbsp;&nbsp;&nbsp;11/25/34 | 155232 |
| 210640 | JP Morgan Mortgage Trust Series 2005-A6 5A1<sup>(d)</sup> |  | 6.1800 | &nbsp;&nbsp;&nbsp;08/25/35 | 213922 |
| 556836 | JP Morgan Mortgage Trust Series 2005-A8 1A1<sup>(d)</sup> |  | 5.0660 | &nbsp;&nbsp;&nbsp;11/25/35 | 433560 |
| 44801 | JP Morgan Mortgage Trust Series 2007-A2 3A1<sup>(d)</sup> |  | 4.8260 | &nbsp;&nbsp;&nbsp;04/25/37 | 37139 |
| 131096 | JP Morgan Mortgage Trust Series 2007-S2 3A2 |  | 6.0000 | &nbsp;&nbsp;&nbsp;06/25/37 | 128715 |
| 49981 | JP Morgan Mortgage Trust Series 2007-S2 3A3 |  | 6.5000 | &nbsp;&nbsp;&nbsp;06/25/37 | 49900 |
| 1133727 | JP Morgan Resecuritization Trust Series 2010-4 6A4<sup>(b),(d)</sup> |  | 4.5000 | &nbsp;&nbsp;&nbsp;10/26/36 | 1044065 |
| 1387085 | Lehman A.B.S Manufactured Housing Contract Trust Series 2002 A C<sup>(e)</sup> |  | 1.7570 | &nbsp;&nbsp;&nbsp;06/15/33 | 1380837 |
| 743386 | Lehman Mortgage Trust Series 2005-2 5A1<sup>(c)</sup> | TSFR1M + 1.014% | 5.1720 | &nbsp;&nbsp;&nbsp;12/25/35 | 399683 |
| 546679 | Lehman Mortgage Trust Series 2005-2 AX<sup>(e)</sup> |  | 5.5000 | &nbsp;&nbsp;&nbsp;12/25/35 | 81419 |
| 119708 | Lehman Mortgage Trust Series 2005-2 5A2<sup>(c)</sup> | -4.600(TSFR1M + 0.114%) + 28.060% | 8.4070 | &nbsp;&nbsp;&nbsp;12/25/35 | 106457 |
| 1367815 | Lehman Mortgage Trust Series 2007-5 8A1<sup>(c)</sup> | TSFR1M + 0.394% | 1.5590 | &nbsp;&nbsp;&nbsp;08/25/36 | 198738 |
| 1384359 | Lehman Mortgage Trust Series 2007-5 8A2<sup>(c),(e)</sup> | -(TSFR1M + 0.114%) + 7.720% | 3.4480 | &nbsp;&nbsp;&nbsp;08/25/36 | 174610 |
| 100107 | Lehman Mortgage Trust Series 2007-3 2A1<sup>(h)</sup> |  | 0.0000 | &nbsp;&nbsp;&nbsp;03/25/37 | 69046 |
| 230512 | Lehman Mortgage Trust Series 2007-10 2A2 |  | 1.4880 | &nbsp;&nbsp;&nbsp;01/25/38 | 61629 |
| 144907 | Lehman Mortgage Trust Series 2006-4 4A1 |  | 6.0000 | &nbsp;&nbsp;&nbsp;06/25/49 | 93486 |
| 2422951 | Lehman XS Trust Series 2005-4 1M1<sup>(c)</sup> | TSFR1M + 0.864% | 5.0220 | &nbsp;&nbsp;&nbsp;10/25/35 | 2828484 |
| 561612 | Lehman XS Trust Series 2005-5N 1A2<sup>(c)</sup> | TSFR1M + 0.474% | 4.6320 | &nbsp;&nbsp;&nbsp;11/25/35 | 558492 |
| 1015283 | Lehman XS Trust Series 2007-3 1AA1<sup>(c)</sup> | TSFR1M + 0.434% | 4.5920 | &nbsp;&nbsp;&nbsp;03/25/37 | 870519 |
| 237286 | Lehman XS Trust Series 2007-6 3A5<sup>(f)</sup> |  | 4.2040 | &nbsp;&nbsp;&nbsp;05/25/37 | 220783 |
| 316499 | Lehman XS Trust Series 2006-2N 1A1<sup>(c)</sup> | TSFR1M + 0.634% | 4.7920 | &nbsp;&nbsp;&nbsp;02/25/46 | 284903 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** |
| **Principal Amount ($)** |  | **Spread** | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **ASSET BACKED SECURITIES — 79.0% (Continued)** | **ASSET BACKED SECURITIES — 79.0% (Continued)** |  |  |  |
|  | **NON-AGENCY RESIDENTIAL MORTGAGE BACKED SECURITIES** — **39.6% (Continued)** | **NON-AGENCY RESIDENTIAL MORTGAGE BACKED SECURITIES** — **39.6% (Continued)** |  |  |  |
| 1913359 | Long Beach Mortgage Loan Trust Series 2002-1 M3<sup>(c)</sup> | TSFR1M + 3.864% | 8.0220 | &nbsp;&nbsp;&nbsp;05/25/32 | $2009975 |
| 427286 | Long Beach Mortgage Loan Trust Series 2003-2 M3<sup>(c)</sup> | TSFR1M + 3.489% | 7.6470 | &nbsp;&nbsp;&nbsp;06/25/33 | 466270 |
| 396610 | Long Beach Mortgage Loan Trust Series 2003-3 M3<sup>(c)</sup> | TSFR1M + 5.364% | 9.5220 | &nbsp;&nbsp;&nbsp;07/25/33 | 808510 |
| 210200 | Long Beach Mortgage Loan Trust Series 2004-5 A5<sup>(c)</sup> | TSFR1M + 0.674% | 4.8320 | &nbsp;&nbsp;&nbsp;09/25/34 | 210436 |
| 334354 | Long Beach Mortgage Loan Trust Series 2004-5 A6<sup>(c)</sup> | TSFR1M + 0.694% | 4.8520 | &nbsp;&nbsp;&nbsp;09/25/34 | 332603 |
| 4650286 | Long Beach Mortgage Loan Trust Series 2005-WL1 3M3<sup>(c)</sup> | TSFR1M + 1.089% | 5.2470 | &nbsp;&nbsp;&nbsp;06/25/45 | 4681560 |
| 14136 | Luminent Mortgage Trust Series 2006-7 2A1<sup>(c)</sup> | TSFR1M + 0.454% | 4.6120 | &nbsp;&nbsp;&nbsp;12/25/36 | 12404 |
| 168749 | Luminent Mortgage Trust Series 2006-7 1A1<sup>(c)</sup> | TSFR1M + 0.474% | 4.6320 | &nbsp;&nbsp;&nbsp;12/25/36 | 162813 |
| 871894 | Luminent Mortgage Trust Series 2007-2 2A1<sup>(c)</sup> | TSFR1M + 0.574% | 4.7320 | &nbsp;&nbsp;&nbsp;05/25/37 | 797198 |
| 89988 | MAFI II REMIC Trust Series 1999-A B1<sup>(b),(d)</sup> |  | 8.0000 | &nbsp;&nbsp;&nbsp;03/20/30 | 87622 |
| 254763 | MASTR Adjustable Rate Mortgages Trust Series 2004-11 B1<sup>(c)</sup> | TSFR1M + 2.364% | 6.5220 | &nbsp;&nbsp;&nbsp;11/25/34 | 251041 |
| 2535437 | MASTR Adjustable Rate Mortgages Trust Series 2004-14 B2<sup>(c)</sup> | TSFR1M + 3.514% | 7.6720 | &nbsp;&nbsp;&nbsp;01/25/35 | 2291466 |
| 636105 | MASTR Adjustable Rate Mortgages Trust Series 2005-2 3A1<sup>(d)</sup> |  | 4.4900 | &nbsp;&nbsp;&nbsp;03/25/35 | 563734 |
| 1795988 | MASTR Adjustable Rate Mortgages Trust Series 2005-6 3A2<sup>(d)</sup> |  | 1.7380 | &nbsp;&nbsp;&nbsp;07/25/35 | 596933 |
| 1022715 | MASTR Adjustable Rate Mortgages Trust Series 2005-6 3A1<sup>(d)</sup> |  | 1.7380 | &nbsp;&nbsp;&nbsp;07/25/35 | 349784 |
| 2827973 | MASTR Adjustable Rate Mortgages Trust Series 2007-1 2A1<sup>(d)</sup> |  | 5.0100 | &nbsp;&nbsp;&nbsp;11/25/36 | 1434821 |
| 283135 | MASTR Adjustable Rate Mortgages Trust Series 2006-OA2 2A1<sup>(c)</sup> | 12MTA + 0.800% | 4.9530 | &nbsp;&nbsp;&nbsp;12/25/46 | 253015 |
| 3343952 | MASTR Adjustable Rate Mortgages Trust Series 2006-OA2 1A1<sup>(c)</sup> | 12MTA + 0.800% | 4.9530 | &nbsp;&nbsp;&nbsp;12/25/46 | 2522050 |
| 278902 | MASTR Adjustable Rate Mortgages Trust Series 2007-3 22A5<sup>(c)</sup> | TSFR1M + 0.794% | 4.9520 | &nbsp;&nbsp;&nbsp;05/25/47 | 232214 |
| 9825 | MASTR Alternative Loan Trust Series 2004-10 4A1 |  | 6.0000 | &nbsp;&nbsp;&nbsp;09/25/34 | 9357 |
| 531348 | MASTR Alternative Loan Trust Series 2004-13 9A2 |  | 1.7780 | &nbsp;&nbsp;&nbsp;01/25/35 | 262141 |
| 49010 | MASTR Alternative Loan Trust Series 2005-6 30PO<sup>(h)</sup> |  | 0.0000 | &nbsp;&nbsp;&nbsp;12/25/35 | 9663 |
| 90619 | MASTR Alternative Loan Trust Series 2005-6 3A1 |  | 5.5000 | &nbsp;&nbsp;&nbsp;12/25/35 | 79170 |
| 2184142 | Mastr Asset Backed Securities Trust Series 2005-WF1 M9<sup>(c)</sup> | TSFR1M + 2.649% | 6.8070 | &nbsp;&nbsp;&nbsp;06/25/35 | 2329953 |
| 139674 | MASTR Asset Backed Securities Trust Series 2003-NC1 M4<sup>(c)</sup> | TSFR1M + 5.364% | 4.1070 | &nbsp;&nbsp;&nbsp;04/25/33 | 143575 |
| 935949 | MASTR Asset Backed Securities Trust Series 2004-OPT1 M1<sup>(c)</sup> | TSFR1M + 0.894% | 5.0520 | &nbsp;&nbsp;&nbsp;02/25/34 | 972687 |
| 330509 | MASTR Asset Securitization Trust Series 2002-NC1 M3<sup>(c)</sup> | TSFR1M + 3.264% | 7.4220 | &nbsp;&nbsp;&nbsp;10/25/32 | 319301 |
| 24746 | MASTR Asset Securitization Trust Series 2003-11 6A16 |  | 5.2500 | &nbsp;&nbsp;&nbsp;12/25/33 | 24605 |
| 73630 | MASTR Asset Securitization Trust Series 2004-9 3A7 |  | 5.2500 | &nbsp;&nbsp;&nbsp;07/25/34 | 71472 |
| 106631 | MASTR Asset Securitization Trust Series 2004-11 5A5 |  | 5.7500 | &nbsp;&nbsp;&nbsp;12/25/34 | 81511 |
| 942375 | MASTR Asset Securitization Trust Series 2004-11 5A4 |  | 5.7500 | &nbsp;&nbsp;&nbsp;12/25/34 | 719627 |
| 1182840 | MASTR Reperforming Loan Trust Series 2005-1 1A4<sup>(b)</sup> |  | 7.5000 | &nbsp;&nbsp;&nbsp;08/25/34 | 864569 |
| 44141 | MASTR Seasoned Securitization Trust Series 2003-1 3A2<sup>(c)</sup> | TSFR1M + 0.514% | 4.6720 | &nbsp;&nbsp;&nbsp;02/25/33 | 43209 |
| 48350 | Mellon Residential Funding Corporation Mortgage Pass Through Trust Series 1999-TBC3 B4<sup>(b),(d)</sup> |  | 5.1370 | &nbsp;&nbsp;&nbsp;10/20/29 | 48038 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** |
| **Principal Amount ($)** |  | **Spread** | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **ASSET BACKED SECURITIES — 79.0% (Continued)** | **ASSET BACKED SECURITIES — 79.0% (Continued)** |  |  |  |
|  | **NON-AGENCY RESIDENTIAL MORTGAGE BACKED SECURITIES** — **39.6% (Continued)** | **NON-AGENCY RESIDENTIAL MORTGAGE BACKED SECURITIES** — **39.6% (Continued)** |  |  |  |
| 31425 | Mellon Residential Funding Corporation Mortgage Pass Through Trust Series 1999-TBC3 B5<sup>(b),(d)</sup> |  | 5.1370 | &nbsp;&nbsp;&nbsp;10/20/29 | $28822 |
| 1194335 | MERIT Securities Corporation Series 11PA B3<sup>(b),(c)</sup> | US0001M + 2.364% | 7.2100 | &nbsp;&nbsp;&nbsp;09/28/32 | 1136731 |
| 109094 | Merrill Lynch Alternative Note Asset Trust Series 2007-AF1 1AF2 |  | 5.7500 | &nbsp;&nbsp;&nbsp;05/25/37 | 105199 |
| 242111 | Merrill Lynch Mortgage Backed Securities Trust Series 2007-1 2A1<sup>(d)</sup> |  | 4.3610 | &nbsp;&nbsp;&nbsp;04/25/37 | 211922 |
| 1720262 | Merrill Lynch Mortgage Investors Trust Series 2003-WMC2 B1<sup>(c)</sup> | TSFR1M + 4.389% | 8.5470 | &nbsp;&nbsp;&nbsp;02/25/34 | 1335727 |
| 927752 | Merrill Lynch Mortgage Investors Trust Series 2005-NC1 B3<sup>(c)</sup> | TSFR1M + 3.189% | 7.3470 | &nbsp;&nbsp;&nbsp;10/25/35 | 856791 |
| 154386 | Merrill Lynch Mortgage Investors Trust Series 2006-AF1 PO<sup>(h)</sup> |  | 0.0000 | &nbsp;&nbsp;&nbsp;08/25/36 |  |
| 1817725 | Merrill Lynch Mortgage Investors Trust Series 2006-FF1 B3<sup>(b),(c)</sup> | TSFR1M + 1.239% | 5.3970 | &nbsp;&nbsp;&nbsp;08/25/36 | 2193672 |
| 22912 | Merrill Lynch Mortgage Investors Trust MLCC Series 2003-D B1<sup>(c)</sup> | TSFR1M + 1.059% | 5.2170 | &nbsp;&nbsp;&nbsp;08/25/28 | 20696 |
| 20561 | Merrill Lynch Mortgage Investors Trust MLCC Series 2003-D B2<sup>(c)</sup> | TSFR1M + 2.364% | 6.5220 | &nbsp;&nbsp;&nbsp;08/25/28 | 16090 |
| 74261 | Merrill Lynch Mortgage Investors Trust MLCC Series 2003-F B1<sup>(c)</sup> | TSFR1M + 1.014% | 5.1720 | &nbsp;&nbsp;&nbsp;10/25/28 | 71238 |
| 90544 | Merrill Lynch Mortgage Investors Trust MLCC Series 2007-2 1A<sup>(d)</sup> |  | 6.6160 | &nbsp;&nbsp;&nbsp;06/25/37 | 89680 |
| 72783 | Merrill Lynch Mortgage Investors Trust MLMI Series 2003-A2 2M1<sup>(d)</sup> |  | 6.2160 | &nbsp;&nbsp;&nbsp;03/25/33 | 62966 |
| 262830 | Merrill Lynch Mortgage Investors Trust MLMI Series A1 M2<sup>(d)</sup> |  | 6.1350 | &nbsp;&nbsp;&nbsp;12/25/34 | 246316 |
| 1025746 | Merrill Lynch Mortgage Investors Trust MLMI Series 2005-A7 2A1<sup>(d)</sup> |  | 2.1580 | &nbsp;&nbsp;&nbsp;09/25/35 | 805754 |
| 514684 | Morgan Stanley A.B.S Capital I, Inc. Trust Series 2003-NC8 B2<sup>(c)</sup> | TSFR1M + 5.739% | 9.8970 | &nbsp;&nbsp;&nbsp;09/25/33 | 497155 |
| 406324 | Morgan Stanley A.B.S Capital I, Inc. Trust Series 2003-NC10 B3<sup>(c)</sup> | TSFR1M + 5.739% | 9.8970 | &nbsp;&nbsp;&nbsp;10/25/33 | 1026641 |
| 534201 | Morgan Stanley A.B.S Capital I, Inc. Trust Series 2004-NC4 M1<sup>(c)</sup> | TSFR1M + 0.924% | 5.0820 | &nbsp;&nbsp;&nbsp;04/25/34 | 541937 |
| 710403 | Morgan Stanley A.B.S Capital I, Inc. Trust Series SD2 B1<sup>(c)</sup> | TSFR1M + 4.164% | 8.3220 | &nbsp;&nbsp;&nbsp;04/25/34 | 783391 |
| 383131 | Morgan Stanley A.B.S Capital I, Inc. Trust Series 2004-SD3 B1<sup>(b),(c)</sup> | TSFR1M + 3.339% | 7.4970 | &nbsp;&nbsp;&nbsp;06/25/34 | 418125 |
| 684637 | Morgan Stanley A.B.S Capital I, Inc. Trust Series 2004-HE8 M2<sup>(c)</sup> | TSFR1M + 1.134% | 5.2920 | &nbsp;&nbsp;&nbsp;09/25/34 | 715242 |
| 484235 | Morgan Stanley A.B.S Capital I, Inc. Trust Series 2005-WMC2 M3<sup>(c)</sup> | TSFR1M + 0.819% | 4.9770 | &nbsp;&nbsp;&nbsp;02/25/35 | 481085 |
| 1657826 | Morgan Stanley A.B.S Capital I, Inc. Trust Series 2007-NC4 A2D<sup>(c)</sup> | TSFR1M + 0.364% | 4.5220 | &nbsp;&nbsp;&nbsp;05/25/37 | 1442029 |
| 161341 | Morgan Stanley Dean Witter Capital I, Inc. Trust Series AM1 M2<sup>(c)</sup> | TSFR1M + 2.589% | 6.7470 | &nbsp;&nbsp;&nbsp;01/25/32 | 404765 |
| 2061 | Morgan Stanley Dean Witter Capital I, Inc. Trust Series 2001-AM1 B1<sup>(c)</sup> | TSFR1M + 3.414% | 7.7670 | &nbsp;&nbsp;&nbsp;02/25/32 | 815000 |
| 100 | Morgan Stanley Dean Witter Capital I, Inc. Trust Series HE1 B1<sup>(c)</sup> | US0001M + 1.800% | 6.7602 | &nbsp;&nbsp;&nbsp;07/25/32 | 370000 |
| 207890 | Morgan Stanley Dean Witter Capital I, Inc. Trust Series NC1 M3<sup>(c)</sup> | TSFR1M + 3.264% | 7.4220 | &nbsp;&nbsp;&nbsp;11/25/32 | 328473 |
| 1642789 | Morgan Stanley Dean Witter Capital I, Inc. Trust Series 2003-NC2 B1<sup>(c)</sup> | TSFR1M + 5.739% | 9.8970 | &nbsp;&nbsp;&nbsp;02/25/33 | 1770163 |
| 4288 | Morgan Stanley Dean Witter Capital I, Inc. Trust Series 2002-AM3 B2<sup>(c)</sup> | TSFR1M + 5.739% | 11.0640 | &nbsp;&nbsp;&nbsp;02/25/33 | 1455000 |
| 74809 | Morgan Stanley Dean Witter Capital I, Inc. Trust Series 2003-HYB1 A1<sup>(d)</sup> |  | 5.2220 | &nbsp;&nbsp;&nbsp;03/25/33 | 67193 |
| 177341 | Morgan Stanley Mortgage Loan Trust Series 2005-4 1A |  | 5.0000 | &nbsp;&nbsp;&nbsp;08/25/35 | 176530 |
| 70999 | Morgan Stanley Mortgage Loan Trust Series 2005-8SL M1<sup>(c)</sup> | TSFR1M + 0.849% | 5.0070 | &nbsp;&nbsp;&nbsp;11/25/35 | 249744 |
| 398070 | Morgan Stanley Mortgage Loan Trust Series 2005-9AR<sup>(d)</sup> |  | 5.3340 | &nbsp;&nbsp;&nbsp;12/25/35 | 371157 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** |
| **Principal Amount ($)** |  | **Spread** | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **ASSET BACKED SECURITIES — 79.0% (Continued)** | **ASSET BACKED SECURITIES — 79.0% (Continued)** |  |  |  |
|  | **NON-AGENCY RESIDENTIAL MORTGAGE BACKED SECURITIES** — **39.6% (Continued)** | **NON-AGENCY RESIDENTIAL MORTGAGE BACKED SECURITIES** — **39.6% (Continued)** |  |  |  |
| 700507 | Morgan Stanley Mortgage Loan Trust Series 2005-10 4A1 |  | 5.5000 | &nbsp;&nbsp;&nbsp;12/25/35 | $385537 |
| 67933 | Morgan Stanley Mortgage Loan Trust Series 2006-2 1A |  | 5.2500 | &nbsp;&nbsp;&nbsp;12/25/52 | 61969 |
| 11965 | Morgan Stanley Re-REMIC Trust Series 2010-R7 3B<sup>(b)</sup> |  | 5.5000 | &nbsp;&nbsp;&nbsp;11/26/34 | 10951 |
| 2610326 | Morgan Stanley Re-REMIC Trust Series 2011-R1 1B<sup>(b),(d)</sup> |  | 5.9420 | &nbsp;&nbsp;&nbsp;02/26/37 | 3207002 |
| 532441 | Morgan Stanley Resecuritization Trust Series 2015-R7 1BXA<sup>(b),(d)</sup> |  | 7.0600 | &nbsp;&nbsp;&nbsp;02/26/29 | 479863 |
| 1116030 | Morgan Stanley Resecuritization Trust Series 2014-R4 4B2<sup>(b),(d)</sup> |  | 5.8710 | &nbsp;&nbsp;&nbsp;11/21/35 | 998655 |
| 12384694 | Mortgage Loan Resecuritization Trust Series 2009-RS1 B15<sup>(b),(c)</sup> | TSFR1M + 0.454% | 4.7350 | &nbsp;&nbsp;&nbsp;04/16/36 | 9090591 |
| 2196362 | MortgageIT Mortgage Loan Trust Series 2006-1 1A2<sup>(c)</sup> | TSFR1M + 0.514% | 4.6720 | &nbsp;&nbsp;&nbsp;04/25/36 | 1603350 |
| 200092 | MortgageIT Trust Series 2004-1 B2<sup>(c)</sup> | TSFR1M + 3.339% | 7.4970 | &nbsp;&nbsp;&nbsp;11/25/34 | 195976 |
| 338798775 | MortgageIT Trust Series 2005-2<sup>(g)</sup> |  | 0.0000 | &nbsp;&nbsp;&nbsp;05/25/35 | 3212499 |
| 219822 | MortgageIT Trust Series 2005-3 B3<sup>(c)</sup> | TSFR1M + 3.864% | 8.0220 | &nbsp;&nbsp;&nbsp;08/25/35 | 310157 |
| 200 | MortgageIT Trust Series 2005-4 M3<sup>(c),(g)</sup> | US0001M + 0.855% | 0.0000 | &nbsp;&nbsp;&nbsp;10/25/35 | 958125 |
| 787971 | MortgageIT Trust Series 2005-5 M2<sup>(c)</sup> | TSFR1M + 0.969% | 5.1270 | &nbsp;&nbsp;&nbsp;12/25/35 | 2223903 |
| 425989 | New Century Home Equity Loan Trust Series 2003-3 M3<sup>(c)</sup> | TSFR1M + 3.684% | 7.8420 | &nbsp;&nbsp;&nbsp;07/25/33 | 691469 |
| 156883 | New Century Home Equity Loan Trust Series 2003-A M1<sup>(b),(c)</sup> | TSFR1M + 1.239% | 3.2820 | &nbsp;&nbsp;&nbsp;10/25/33 | 179782 |
| 1233 | New Century Home Equity Loan Trust Series 2003-5 AI7<sup>(d)</sup> |  | 4.8340 | &nbsp;&nbsp;&nbsp;11/25/33 | 1228 |
| 894006 | New Century Home Equity Loan Trust Series 2003-6 M1<sup>(c)</sup> | TSFR1M + 1.194% | 5.3520 | &nbsp;&nbsp;&nbsp;01/25/34 | 901497 |
| 145902 | New Century Home Equity Loan Trust Series 2004-2 M2<sup>(c)</sup> | TSFR1M + 1.044% | 5.2020 | &nbsp;&nbsp;&nbsp;08/25/34 | 195448 |
| 10078237 | New Residential Mortgage Loan Trust Series 2019-5A B4IA<sup>(b),(d),(e)</sup> |  | 0.5000 | &nbsp;&nbsp;&nbsp;08/25/59 | 160105 |
| 14164446 | New Residential Mortgage Loan Trust Series 2019-5A B5IB<sup>(b),(d),(e)</sup> |  | 0.7500 | &nbsp;&nbsp;&nbsp;08/25/59 | 333512 |
| 6745 | Nomura Asset Acceptance Corporation Alternative Loan Series 2004-AP1 A5<sup>(f)</sup> |  | 5.8030 | &nbsp;&nbsp;&nbsp;03/25/34 | 6685 |
| 45081 | Nomura Asset Acceptance Corporation Alternative Loan Series 2004-AR1 5A3<sup>(c)</sup> | TSFR1M + 1.134% | 5.2920 | &nbsp;&nbsp;&nbsp;08/25/34 | 44691 |
| 1956877 | Nomura Asset Acceptance Corporation Alternative Loan Series 2004-AR2 M2<sup>(c)</sup> | TSFR1M + 1.814% | 5.9720 | &nbsp;&nbsp;&nbsp;10/25/34 | 2047445 |
| 1599108 | Nomura Asset Acceptance Corporation Alternative Loan Series 2006-AF1 2A<sup>(d)</sup> |  | 4.8940 | &nbsp;&nbsp;&nbsp;06/25/36 | 1170629 |
| 663917 | Nomura Asset Acceptance Corporation Alternative Loan Series AF2 4A<sup>(d)</sup> |  | 5.7830 | &nbsp;&nbsp;&nbsp;08/25/36 | 650831 |
| 7374645 | Nomura Asset Acceptance Corporation Alternative Loan Series 2007-3 A1<sup>(c)</sup> | US0001M + 0.260% | 4.5320 | &nbsp;&nbsp;&nbsp;07/25/37 | 6705216 |
| 3700970 | Nomura Asset Acceptance Corporation Alternative Loan Series 3 A2<sup>(c)</sup> | TSFR1M + 0.514% | 4.6720 | &nbsp;&nbsp;&nbsp;07/25/37 | 3353962 |
| 2975153 | Nomura Asset Acceptance Corporation Alternative Loan Series 3 A4<sup>(c)</sup> | TSFR1M + 0.574% | 4.7320 | &nbsp;&nbsp;&nbsp;07/25/37 | 2707990 |
| 4775840 | Nomura Asset Acceptance Corporation Alternative Loan Series 3 A3<sup>(c)</sup> | TSFR1M + 0.754% | 4.9120 | &nbsp;&nbsp;&nbsp;07/25/37 | 4342163 |
| 529718 | NovaStar Mortgage Funding Trust Series 2003-2 M2<sup>(c)</sup> | TSFR1M + 2.889% | 7.0470 | &nbsp;&nbsp;&nbsp;09/25/33 | 536208 |
| 585063 | NovaStar Mortgage Funding Trust Series 2006-MTA1 2A1A<sup>(c)</sup> | TSFR1M + 0.494% | 0.3980 | &nbsp;&nbsp;&nbsp;09/25/46 | 535808 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** |
| **Principal Amount ($)** |  | **Spread** | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **ASSET BACKED SECURITIES — 79.0% (Continued)** | **ASSET BACKED SECURITIES — 79.0% (Continued)** |  |  |  |
|  | **NON-AGENCY RESIDENTIAL MORTGAGE BACKED SECURITIES** — **39.6% (Continued)** | **NON-AGENCY RESIDENTIAL MORTGAGE BACKED SECURITIES** — **39.6% (Continued)** |  |  |  |
| 184971 | Oakwood Mortgage Investors, Inc. Series 1997-A B1 |  | 7.4500 | &nbsp;&nbsp;&nbsp;05/15/27 | $177983 |
| 2098 | Oakwood Mortgage Investors, Inc. Series 1997-B B1 |  | 7.7500 | &nbsp;&nbsp;&nbsp;08/15/27 | 2025 |
| 521022 | Oakwood Mortgage Investors, Inc. Series 1997-C B1<sup>(d)</sup> |  | 7.4500 | &nbsp;&nbsp;&nbsp;11/15/27 | 523240 |
| 697418 | Oakwood Mortgage Investors, Inc. Series 1997-D B1<sup>(d)</sup> |  | 7.3250 | &nbsp;&nbsp;&nbsp;02/15/28 | 702980 |
| 503290 | Oakwood Mortgage Investors, Inc. Series 1998-D M1<sup>(b)</sup> |  | 7.4150 | &nbsp;&nbsp;&nbsp;01/15/29 | 506930 |
| 930894 | Oakwood Mortgage Investors, Inc. Series D M1<sup>(d)</sup> |  | 8.0000 | &nbsp;&nbsp;&nbsp;11/15/29 | 939485 |
| 1054140 | Oakwood Mortgage Investors, Inc. Series 2000-C M1 |  | 8.4900 | &nbsp;&nbsp;&nbsp;10/15/30 | 1034280 |
| 1681641 | Oakwood Mortgage Investors, Inc. Series 2001-D A2<sup>(d)</sup> |  | 3.1940 | &nbsp;&nbsp;&nbsp;08/15/31 | 563696 |
| 3124253 | Oakwood Mortgage Investors, Inc. Series 2002-A M1<sup>(d)</sup> |  | 7.7600 | &nbsp;&nbsp;&nbsp;03/15/32 | 3150572 |
| 178972 | Option One Mortgage Loan Trust Series 2004-1 M4<sup>(c)</sup> | TSFR1M + 2.589% | 6.7470 | &nbsp;&nbsp;&nbsp;01/25/34 | 149819 |
| 139759 | Option One Mortgage Loan Trust Series 2004-2 M5<sup>(c)</sup> | TSFR1M + 3.114% | 7.2720 | &nbsp;&nbsp;&nbsp;05/25/34 | 133402 |
| 813510 | Option One Mortgage Loan Trust Series 2007-FXD1 1A1<sup>(f)</sup> |  | 5.8660 | &nbsp;&nbsp;&nbsp;01/25/37 | 699561 |
| 159129 | Option One Mortgage Loan Trust Series 2007-FXD2 2A6<sup>(f)</sup> |  | 5.6800 | &nbsp;&nbsp;&nbsp;03/25/37 | 140936 |
| 350992 | Option One Mortgage Loan Trust Series 2007-FXD2 2A5<sup>(f)</sup> |  | 6.1020 | &nbsp;&nbsp;&nbsp;03/25/37 | 310870 |
| 626280 | Option One Woodbridge Loan Trust Series 2004-1 M<sup>(b),(c)</sup> | TSFR1M + 1.614% | 5.7720 | &nbsp;&nbsp;&nbsp;02/25/34 | 621087 |
| 430583 | Origen Manufactured Housing Contract Trust Series 2007-A A2<sup>(d)</sup> |  | 6.6050 | &nbsp;&nbsp;&nbsp;04/15/37 | 400068 |
| 2436476 | Origen Manufactured Housing Contract Trust Series 2006-A A2<sup>(d)</sup> |  | 5.3950 | &nbsp;&nbsp;&nbsp;10/15/37 | 2184656 |
| 4732330 | Ownit Mortgage Loan Trust Series 2005-4 M1<sup>(c)</sup> | TSFR1M + 0.939% | 5.0970 | &nbsp;&nbsp;&nbsp;08/25/36 | 4286269 |
| 669460 | Park Place Securities, Inc. Asset-Backed Pass-Through Certificates Series WCW3 M2<sup>(c)</sup> | TSFR1M + 0.849% | 5.0070 | &nbsp;&nbsp;&nbsp;08/25/35 | 670282 |
| 195944 | PHHMC Series Trust Series 2006-4 B1<sup>(d)</sup> |  | 6.3010 | &nbsp;&nbsp;&nbsp;12/18/36 | 196391 |
| 60108 | Popular A.B.S, Inc. Series 1998-1 A1<sup>(f)</sup> |  | 7.2000 | &nbsp;&nbsp;&nbsp;12/25/29 | 57807 |
| 61338 | Prime Mortgage Trust Series 2004-1 1A6 |  | 5.2500 | &nbsp;&nbsp;&nbsp;08/25/34 | 60921 |
| 1511791 | Prime Mortgage Trust Series 2006-DR1 2A1<sup>(b)</sup> |  | 5.5000 | &nbsp;&nbsp;&nbsp;05/25/35 | 1420937 |
| 380405 | Prime Mortgage Trust Series 2006-DR1 2A2<sup>(b)</sup> |  | 6.0000 | &nbsp;&nbsp;&nbsp;05/25/35 | 325353 |
| 394445 | Provident Bank Home Equity Loan Trust Series 1984-4 A6 |  | 6.6900 | &nbsp;&nbsp;&nbsp;01/25/30 | 382901 |
| 359000 | Provident Bank Home Equity Loan Trust Series 1998-4 A9<sup>(c)</sup> | TSFR1M + 3.614% | 7.7720 | &nbsp;&nbsp;&nbsp;01/25/30 | 340397 |
| 1022432 | Provident Bank Home Equity Loan Trust Series 1999-3 A3<sup>(c)</sup> | TSFR1M + 0.894% | 4.6620 | &nbsp;&nbsp;&nbsp;01/25/31 | 955836 |
| 124195 | Provident Bank Home Equity Loan Trust Series 1999-3 A2<sup>(c)</sup> | TSFR1M + 0.954% | 4.6920 | &nbsp;&nbsp;&nbsp;01/25/31 | 114006 |
| 316206 | Provident Bank Home Equity Loan Trust Series 2004-2 A1<sup>(c)</sup> | TSFR1M + 0.654% | 4.8120 | &nbsp;&nbsp;&nbsp;08/25/31 | 301108 |
| 312902 | Quest Trust Series 2003-X3 M3<sup>(b),(c)</sup> | TSFR1M + 4.989% | 9.1470 | &nbsp;&nbsp;&nbsp;02/25/34 | 443290 |
| 366606 | RAAC Series Trust Series 2005-RP2 M6<sup>(b),(c)</sup> | US0001M + 3.115% | 6.2720 | &nbsp;&nbsp;&nbsp;06/25/35 | 367285 |
| 1873172 | RAAC Series Trust Series 2006-SP4 M4<sup>(c)</sup> | TSFR1M + 2.514% | 6.6720 | &nbsp;&nbsp;&nbsp;11/25/36 | 1871565 |
| 1572143 | RAAC Series Trust Series 2006-SP1 M2<sup>(c)</sup> | TSFR1M + 0.939% | 5.0970 | &nbsp;&nbsp;&nbsp;09/25/45 | 1154633 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** |
| **Principal Amount ($)** |  | **Spread** | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **ASSET BACKED SECURITIES — 79.0% (Continued)** | **ASSET BACKED SECURITIES — 79.0% (Continued)** |  |  |  |
|  | **NON-AGENCY RESIDENTIAL MORTGAGE BACKED SECURITIES** — **39.6% (Continued)** | **NON-AGENCY RESIDENTIAL MORTGAGE BACKED SECURITIES** — **39.6% (Continued)** |  |  |  |
| 4599239 | RAAC Series Trust Series 2006-RP1 M3<sup>(b),(c)</sup> | TSFR1M + 2.889% | 6.1220 | &nbsp;&nbsp;&nbsp;10/25/45 | $4588726 |
| 2759324 | RAAC Series Trust Series 2006-RP1 M4<sup>(b),(c)</sup> | TSFR1M + 2.927% | 6.1470 | &nbsp;&nbsp;&nbsp;10/25/45 | 2806512 |
| 4000000 | RAAC Series Trust Series 2006-RP4 M2<sup>(c)</sup> | TSFR1M + 1.614% | 5.7720 | &nbsp;&nbsp;&nbsp;01/25/46 | 3996473 |
| 303149 | RALI Series Trust Series 2004-QA4 NB1<sup>(d)</sup> |  | 5.5770 | &nbsp;&nbsp;&nbsp;09/25/34 | 271241 |
| 190597 | RALI Series Trust Series 2004-QA4 NB21<sup>(d)</sup> |  | 5.6820 | &nbsp;&nbsp;&nbsp;09/25/34 | 184362 |
| 321862 | RALI Series Trust Series 2004-QA6 NB2<sup>(d)</sup> |  | 4.4110 | &nbsp;&nbsp;&nbsp;12/26/34 | 299122 |
| 840079 | RALI Series Trust Series 2004-QA6 NB4<sup>(d)</sup> |  | 4.9330 | &nbsp;&nbsp;&nbsp;12/26/34 | 757450 |
| 1761178 | RALI Series Trust Series 2005-QA2 A1I<sup>(d)</sup> |  | 1.4360 | &nbsp;&nbsp;&nbsp;02/25/35 | 571200 |
| 163593 | RALI Series Trust Series 2005-QA2 NB2<sup>(d)</sup> |  | 4.9060 | &nbsp;&nbsp;&nbsp;02/25/35 | 145284 |
| 1498229 | RALI Series Trust Series 2005-QA2 A1II<sup>(d)</sup> |  | 4.9270 | &nbsp;&nbsp;&nbsp;02/25/35 | 828282 |
| 169643 | RALI Series Trust Series 2005-QA3 NB4<sup>(d),(g)</sup> |  | 0.0000 | &nbsp;&nbsp;&nbsp;03/25/35 | 31608 |
| 56971 | RALI Series Trust Series 2005-QA3 NB1<sup>(d)</sup> |  | 3.6580 | &nbsp;&nbsp;&nbsp;03/25/35 | 31059 |
| 670505 | RALI Series Trust Series 2005-QA6 NB23<sup>(d)</sup> |  | 2.2550 | &nbsp;&nbsp;&nbsp;05/25/35 | 314101 |
| 342457 | RALI Series Trust Series 2005-QA8 CB21<sup>(d)</sup> |  | 5.1900 | &nbsp;&nbsp;&nbsp;07/25/35 | 173059 |
| 27556 | RALI Series Trust Series 2005-QA8 NB2<sup>(d)</sup> |  | 5.2730 | &nbsp;&nbsp;&nbsp;07/25/35 | 25964 |
| 2608410 | RALI Series Trust Series 2005-QA9 NB21<sup>(d)</sup> |  | 1.6610 | &nbsp;&nbsp;&nbsp;08/25/35 | 901264 |
| 1110942 | RALI Series Trust Series 2005-QA9 CB3<sup>(d)</sup> |  | 4.8240 | &nbsp;&nbsp;&nbsp;08/25/35 | 1015970 |
| 4967776 | RALI Series Trust Series 2005-QA11 3A1<sup>(d)</sup> |  | 1.7660 | &nbsp;&nbsp;&nbsp;10/25/35 | 1668939 |
| 997659 | RALI Series Trust Series 2005-QA12 CB3<sup>(d)</sup> |  | 5.1560 | &nbsp;&nbsp;&nbsp;12/25/35 | 917831 |
| 121079 | RALI Series Trust Series 2005-QA12 NB2<sup>(d)</sup> |  | 6.4580 | &nbsp;&nbsp;&nbsp;12/25/35 | 118201 |
| 99115 | RALI Series Trust Series 2006-QA2 3A1<sup>(d)</sup> |  | 6.2930 | &nbsp;&nbsp;&nbsp;02/25/36 | 82991 |
| 7164933 | RALI Series Trust Series 2006-QS11 2A1 |  | 1.8440 | &nbsp;&nbsp;&nbsp;08/25/36 | 2375953 |
| 252368 | RALI Series Trust Series 2007-QS4 1A4 |  | 6.2500 | &nbsp;&nbsp;&nbsp;03/25/37 | 200142 |
| 597401 | RALI Series Trust Series 2005-QO4 2A1<sup>(c)</sup> | TSFR1M + 0.674% | 4.8320 | &nbsp;&nbsp;&nbsp;12/25/45 | 363324 |
| 2949446 | RALI Series Trust Series 2007-QO5 A<sup>(c)</sup> | 12MTA + 3.120% | 0.7650 | &nbsp;&nbsp;&nbsp;08/25/47 | 427430 |
| 477762 | RAMP Series Trust Series 2003-SL1 A41 |  | 8.0000 | &nbsp;&nbsp;&nbsp;04/25/31 | 206317 |
| 373497 | RAMP Series Trust Series 2005-SL2 A5 |  | 0.0010 | &nbsp;&nbsp;&nbsp;10/25/31 | 143090 |
| 387803 | RAMP Series Trust Series 2004-SL1 A8 |  | 6.5000 | &nbsp;&nbsp;&nbsp;11/25/31 | 348193 |
| 344239 | RAMP Series Trust Series 2004-SL3 A4 |  | 3.8360 | &nbsp;&nbsp;&nbsp;12/25/31 | 155530 |
| 369504 | RAMP Series Trust Series 2005-SL1 A3 |  | 0.9220 | &nbsp;&nbsp;&nbsp;05/25/32 | 49012 |
| 594331 | RAMP Series Trust Series 2005-SL1 A7 |  | 8.0000 | &nbsp;&nbsp;&nbsp;05/25/32 | 380940 |
| 235790 | RAMP Series Trust Series 2004-SL4 A5 |  | 1.8660 | &nbsp;&nbsp;&nbsp;07/25/32 | 75887 |
| 650166 | RAMP Series Trust Series 2003-RS7 MII2<sup>(c)</sup> | TSFR1M + 1.914% | 4.7010 | &nbsp;&nbsp;&nbsp;08/25/33 | 630919 |
| 357703 | RAMP Series Trust Series 2003-RS10 MII2<sup>(c)</sup> | TSFR1M + 1.814% | 4.8140 | &nbsp;&nbsp;&nbsp;11/25/33 | 353929 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** |
| **Principal Amount ($)** |  | **Spread** | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **ASSET BACKED SECURITIES — 79.0% (Continued)** | **ASSET BACKED SECURITIES — 79.0% (Continued)** |  |  |  |
|  | **NON-AGENCY RESIDENTIAL MORTGAGE BACKED SECURITIES** — **39.6% (Continued)** | **NON-AGENCY RESIDENTIAL MORTGAGE BACKED SECURITIES** — **39.6% (Continued)** |  |  |  |
| 1662458 | RAMP Series Trust Series 2004-RS7 A3<sup>(d)</sup> |  | 5.5780 | &nbsp;&nbsp;&nbsp;07/25/34 | $1491500 |
| 158183 | RAMP Series Trust Series 2006-RS6 A4<sup>(c)</sup> | TSFR1M + 0.654% | 4.8120 | &nbsp;&nbsp;&nbsp;11/25/36 | 129855 |
| 2612147 | RASC Series Trust Series 2004-KS11 M2<sup>(c)</sup> | US0001M + 1.000% | 5.2480 | &nbsp;&nbsp;&nbsp;12/25/34 | 2788640 |
| 2040349 | RBSGC Mortgage Loan Trust Series 2005-A 4A |  | 6.0000 | &nbsp;&nbsp;&nbsp;04/25/35 | 1785806 |
| 440400 | RBSGC Mortgage Loan Trust Series 2007-A 1A1 |  | 6.0000 | &nbsp;&nbsp;&nbsp;01/25/37 | 387551 |
| 1272421 | RBSSP Resecuritization Trust Series 2009-6 8A3<sup>(b),(d)</sup> |  | 4.1120 | &nbsp;&nbsp;&nbsp;08/26/35 | 359051 |
| 67659 | Renaissance Home Equity Loan Trust Series 2002-4 B<sup>(f)</sup> |  | 3.9450 | &nbsp;&nbsp;&nbsp;03/25/33 | 46568 |
| 66124 | Renaissance Home Equity Loan Trust Series 2004-3 AF6<sup>(f)</sup> |  | 5.3240 | &nbsp;&nbsp;&nbsp;11/25/34 | 62830 |
| 32809 | Renaissance Home Equity Loan Trust Series 2005-4 A4<sup>(f)</sup> |  | 5.8250 | &nbsp;&nbsp;&nbsp;02/25/36 | 32481 |
| 51243 | Reperforming Loan REMIC Trust Series 2004-R1 2A<sup>(b)</sup> |  | 6.5000 | &nbsp;&nbsp;&nbsp;11/25/34 | 49985 |
| 159378 | Reperforming Loan REMIC Trust Series 2004-R1 3A<sup>(b)</sup> |  | 7.5000 | &nbsp;&nbsp;&nbsp;11/25/34 | 159115 |
| 248656 | Reperforming Loan REMIC Trust Series 2006-R2 AF1<sup>(b),(c)</sup> | TSFR1M + 0.534% | 4.6920 | &nbsp;&nbsp;&nbsp;07/25/36 | 236204 |
| 145678 | Residential Asset Securitization Trust Series 2000-A6 B2 |  | 8.0000 | &nbsp;&nbsp;&nbsp;10/25/30 | 79558 |
| 195895 | Residential Asset Securitization Trust Series 2004-A2 2A1<sup>(c)</sup> | TSFR1M + 0.664% | 4.8220 | &nbsp;&nbsp;&nbsp;05/25/34 | 187405 |
| 226790 | Residential Asset Securitization Trust Series 2006-A3CB PO<sup>(h)</sup> |  |  | &nbsp;&nbsp;&nbsp;01/25/46 | 2 |
| 168786 | Residential Asset Securitization Trust Series 2006-A3CB AX<sup>(d),(e)</sup> |  | 6.0000 | &nbsp;&nbsp;&nbsp;01/25/46 | 30816 |
| 710397 | RFMSI Series Trust Series 2005-SA1 2A<sup>(d)</sup> |  | 4.0650 | &nbsp;&nbsp;&nbsp;03/25/35 | 652360 |
| 182140 | RFMSI Series Trust Series 2005-SA3 3A<sup>(d)</sup> |  | 5.5600 | &nbsp;&nbsp;&nbsp;08/25/35 | 158117 |
| 591137 | RFMSI Series Trust Series 2005-SA5 2A<sup>(d)</sup> |  | 5.3280 | &nbsp;&nbsp;&nbsp;11/25/35 | 530463 |
| 99646 | RFMSI Series Trust Series 2006-SA1 2A1<sup>(d)</sup> |  | 6.0970 | &nbsp;&nbsp;&nbsp;02/25/36 | 91818 |
| 69650 | RFMSI Series Trust Series 2006-SA3 3A1<sup>(d)</sup> |  | 5.5770 | &nbsp;&nbsp;&nbsp;09/25/36 | 59947 |
| 988485 | RFMSI Series Trust Series 2007-S9 1A1 |  | 2.2720 | &nbsp;&nbsp;&nbsp;10/25/37 | 448807 |
| 881588 | RFSC Series Trust Series 2002-RP2 A1<sup>(b),(c)</sup> | TSFR1M + 1.614% | 5.7720 | &nbsp;&nbsp;&nbsp;10/25/32 | 858743 |
| 284083 | RFSC Trust Series 2002-RP1 A1<sup>(b),(c)</sup> | TSFR1M + 0.974% | 5.1320 | &nbsp;&nbsp;&nbsp;03/25/33 | 278835 |
| 36911 | SACO I Trust Series 2005-WM2 M1<sup>(c)</sup> | TSFR1M + 0.939% | 5.0970 | &nbsp;&nbsp;&nbsp;07/25/35 | 41988 |
| 17666 | SACO I Trust Series 2007-2 A1<sup>(c)</sup> | TSFR1M + 0.434% | 4.5920 | &nbsp;&nbsp;&nbsp;02/25/37 | 17883 |
| 557924 | Sail Net Interest Margin Notes Series BC1A B<sup>(b),(h)</sup> |  |  | &nbsp;&nbsp;&nbsp;01/27/33 | 475436 |
| 576011 | Sail Net Interest Margin Notes Series 2003-6A A<sup>(b)</sup> |  | 7.0000 | &nbsp;&nbsp;&nbsp;07/27/33 | 1885884 |
| 2464373 | SASCO ARC NIM Series 2003-5<sup>(b)</sup> |  | 6.0000 | &nbsp;&nbsp;&nbsp;06/27/33 | 2457846 |
| 802959 | Sasco Net Interest Margin Trust Series BC2 C<sup>(b),(c)</sup> | TSFR1M + 3.114% | 7.2800 | &nbsp;&nbsp;&nbsp;02/27/33 | 830426 |
| 851698 | Saxon Asset Sec Trust Mortgage Loan Asset Backed Certificates Series 1999-5 BF<sup>(d)</sup> |  | 9.3000 | &nbsp;&nbsp;&nbsp;08/25/28 | 803874 |
| 2148923 | Saxon Asset Securities Trust Series 2001-2 M1<sup>(c)</sup> | TSFR1M + 0.909% | 5.0670 | &nbsp;&nbsp;&nbsp;03/25/31 | 1869536 |
| 284320 | Securitized Asset Backed Receivables, LLC Trust Series OP2 A2<sup>(c)</sup> | TSFR1M + 0.814% | 4.9720 | &nbsp;&nbsp;&nbsp;08/25/34 | 273975 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** |
| **Principal Amount ($)** |  | **Spread** | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **ASSET BACKED SECURITIES — 79.0% (Continued)** | **ASSET BACKED SECURITIES — 79.0% (Continued)** |  |  |  |
|  | **NON-AGENCY RESIDENTIAL MORTGAGE BACKED SECURITIES** — **39.6% (Continued)** | **NON-AGENCY RESIDENTIAL MORTGAGE BACKED SECURITIES** — **39.6% (Continued)** |  |  |  |
| 10633 | Sequoia Mortgage Trust Series 6 B2<sup>(c)</sup> | TSFR1M + 1.164% | 4.8700 | &nbsp;&nbsp;&nbsp;04/19/27 | $9779 |
| 17922 | Sequoia Mortgage Trust Series 2003-4 2B2<sup>(d)</sup> |  | 5.8360 | &nbsp;&nbsp;&nbsp;07/20/33 | 17111 |
| 27172 | Sequoia Mortgage Trust Series 2003-4 2B3<sup>(d)</sup> |  | 5.8360 | &nbsp;&nbsp;&nbsp;07/20/33 | 25838 |
| 12088 | Sequoia Mortgage Trust Series 2003-4 2B5<sup>(d)</sup> |  | 5.8360 | &nbsp;&nbsp;&nbsp;07/20/33 | 8889 |
| 92408 | Sequoia Mortgage Trust Series 2004-1 B1<sup>(c)</sup> | TSFR1M + 0.939% | 5.0750 | &nbsp;&nbsp;&nbsp;02/20/34 | 76716 |
| 3156043 | SHARPS OTC Series 2002-AQ1N<sup>(g)</sup> |  | 0.0000 | &nbsp;&nbsp;&nbsp;04/25/31 | 2150000 |
| 35922 | Sofi Mortgage Trust Series 2016-1A 1AMF<sup>(b),(d)</sup> |  | 3.0000 | &nbsp;&nbsp;&nbsp;11/25/46 | 32188 |
| 24040 | Soundview Home Loan Trust Series 2004-1 M2<sup>(c)</sup> | TSFR1M + 1.134% | 5.2920 | &nbsp;&nbsp;&nbsp;07/25/34 | 22196 |
| 142932 | Soundview Home Loan Trust Series 2004-1 M7<sup>(c)</sup> | TSFR1M + 3.039% | 7.1970 | &nbsp;&nbsp;&nbsp;07/25/34 | 118971 |
| 930065 | Soundview Home Loan Trust Series 2004-1 M9<sup>(c)</sup> | TSFR1M + 4.989% | 9.1470 | &nbsp;&nbsp;&nbsp;07/25/34 | 759480 |
| 27443586 | Soundview Home Loan Trust Series 2007-OPT4 X1<sup>(d),(e)</sup> |  | 0.5490 | &nbsp;&nbsp;&nbsp;09/25/37 | 666248 |
| 1310341 | Structured Adjustable Rate Mortgage Loan Trust Series 2005-14 A1<sup>(c)</sup> | TSFR1M + 0.424% | 4.5820 | &nbsp;&nbsp;&nbsp;07/25/35 | 774781 |
| 126575 | Structured Adjustable Rate Mortgage Loan Trust Series 2007-3 2A1<sup>(d)</sup> |  | 3.8430 | &nbsp;&nbsp;&nbsp;04/25/47 | 117495 |
| 260149 | Structured Asset Investment Loan Trust Series 2003-BC2 M1<sup>(c)</sup> | TSFR1M + 1.494% | 5.6520 | &nbsp;&nbsp;&nbsp;04/25/33 | 266599 |
| 264045 | Structured Asset Investment Loan Trust Series 2003-BC10 M2<sup>(c)</sup> | TSFR1M + 2.889% | 7.0470 | &nbsp;&nbsp;&nbsp;10/25/33 | 307311 |
| 2398064 | Structured Asset Investment Loan Trust Series 2003-BC10 M3<sup>(c)</sup> | TSFR1M + 3.414% | 7.5720 | &nbsp;&nbsp;&nbsp;10/25/33 | 2613790 |
| 312722 | Structured Asset Investment Loan Trust Series 2003-BC10 M4<sup>(c)</sup> | TSFR1M + 4.614% | 8.7720 | &nbsp;&nbsp;&nbsp;10/25/33 | 567299 |
| 223724 | Structured Asset Investment Loan Trust Series 2004-8 A1<sup>(c)</sup> | TSFR1M + 0.664% | 4.8220 | &nbsp;&nbsp;&nbsp;09/25/34 | 215728 |
| 759775 | Structured Asset Investment Loan Trust Series 2004-8 A6<sup>(c)</sup> | TSFR1M + 0.914% | 5.0720 | &nbsp;&nbsp;&nbsp;09/25/34 | 737862 |
| 395796 | Structured Asset Investment Loan Trust Series 2004-8 A9<sup>(c)</sup> | TSFR1M + 1.114% | 5.2720 | &nbsp;&nbsp;&nbsp;09/25/34 | 404235 |
| 151041 | Structured Asset Mortgage Investments II Trust Series 2004-AR5 2A3<sup>(d)</sup> |  | 4.8850 | &nbsp;&nbsp;&nbsp;10/19/34 | 140577 |
| 163457 | Structured Asset Mortgage Investments II Trust Series 2004-AR6 A1B<sup>(c)</sup> | TSFR1M + 0.514% | 4.6480 | &nbsp;&nbsp;&nbsp;02/19/35 | 164630 |
| 1089862 | Structured Asset Mortgage Investments II Trust Series 2006-AR3 21A1<sup>(c)</sup> | TSFR1M + 0.514% | 4.6720 | &nbsp;&nbsp;&nbsp;02/25/36 | 887989 |
| 1382657 | Structured Asset Mortgage Investments II Trust Series 2006-AR1 2A2<sup>(c)</sup> | TSFR1M + 0.734% | 4.8920 | &nbsp;&nbsp;&nbsp;02/25/36 | 1401805 |
| 4212945 | Structured Asset Mortgage Investments II Trust Series 2006-AR3 24A1<sup>(d)</sup> |  | 1.0890 | &nbsp;&nbsp;&nbsp;05/25/36 | 808351 |
| 103720 | Structured Asset Mortgage Investments II Trust Series 2006-AR3 22A1<sup>(d)</sup> |  | 2.5900 | &nbsp;&nbsp;&nbsp;05/25/36 | 42345 |
| 48044 | Structured Asset Mortgage Investments II Trust Series 2007-AR2 1A1<sup>(c)</sup> | TSFR1M + 0.414% | 4.5720 | &nbsp;&nbsp;&nbsp;02/25/37 | 46292 |
| 580542 | Structured Asset Mortgage Investments II Trust Series 2007-AR2 2A1<sup>(c)</sup> | TSFR1M + 0.374% | 1.6840 | &nbsp;&nbsp;&nbsp;03/25/37 | 219574 |
| 513612 | Structured Asset Mortgage Investments II Trust Series AR6 1A2<sup>(c)</sup> | TSFR1M + 0.834% | 4.9920 | &nbsp;&nbsp;&nbsp;09/25/45 | 465865 |
| 1257347 | Structured Asset Mortgage Investments II Trust Series 2006-AR5 3A1<sup>(c)</sup> | TSFR1M + 0.534% | 2.4150 | &nbsp;&nbsp;&nbsp;05/25/46 | 562851 |
| 961973 | Structured Asset Mortgage Investments II Trust Series 2006-AR5 2A1<sup>(c)</sup> | TSFR1M + 0.534% | 4.6920 | &nbsp;&nbsp;&nbsp;05/25/46 | 681247 |
| 211579 | Structured Asset Mortgage Investments Trust Series 2002-AR5 A2<sup>(c)</sup> | TSFR1M + 1.314% | 5.4480 | &nbsp;&nbsp;&nbsp;05/19/33 | 195663 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** |
| **Principal Amount ($)** |  | **Spread** | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **ASSET BACKED SECURITIES — 79.0% (Continued)** | **ASSET BACKED SECURITIES — 79.0% (Continued)** |  |  |  |
|  | **NON-AGENCY RESIDENTIAL MORTGAGE BACKED SECURITIES** — **39.6% (Continued)** | **NON-AGENCY RESIDENTIAL MORTGAGE BACKED SECURITIES** — **39.6% (Continued)** |  |  |  |
| 62525 | Structured Asset Securities Corporation Assistance Loan Series AL2 B1<sup>(b)</sup> |  | 3.3560 | &nbsp;&nbsp;&nbsp;01/25/31 | $53755 |
| 111878 | Structured Asset Securities Corporation Mortgage Series 2003-39EX M3<sup>(f)</sup> |  | 3.4340 | &nbsp;&nbsp;&nbsp;08/25/33 | 130866 |
| 863000 | Structured Asset Securities Corporation Mortgage Series 2004-9XS 2M2<sup>(f)</sup> |  | 5.7500 | &nbsp;&nbsp;&nbsp;05/25/34 | 975060 |
| 326523 | Structured Asset Securities Corporation Mortgage Series 2004-11XS 1A5A<sup>(f)</sup> |  | 4.7700 | &nbsp;&nbsp;&nbsp;06/25/34 | 323869 |
| 848847 | Structured Asset Securities Corporation Mortgage Certificates Series 2003-31A B1<sup>(d)</sup> |  | 5.8560 | &nbsp;&nbsp;&nbsp;10/25/33 | 769708 |
| 108 | Structured Asset Securities Corporation Mortgage Loan Series 2005-2XS 2A2<sup>(c)</sup> | TSFR1M + 1.614% | 5.8950 | &nbsp;&nbsp;&nbsp;02/25/35 | 1079 |
| 157113 | Structured Asset Securities Corporation Mortgage Loan Series WF2 B2<sup>(b),(c)</sup> | TSFR1M + 3.864% | 8.0220 | &nbsp;&nbsp;&nbsp;05/25/35 | 162046 |
| 129937 | Structured Asset Securities Corporation Mortgage Loan Series RF3 2A<sup>(b),(d)</sup> |  | 5.4460 | &nbsp;&nbsp;&nbsp;10/25/36 | 123219 |
| 16794 | Structured Asset Securities Corporation Mortgage Pass Series 2001-SB1 A2 |  | 3.3750 | &nbsp;&nbsp;&nbsp;08/25/31 | 16733 |
| 456109 | Structured Asset Securities Corporation Mortgage Pass Through Certificates Series 1998-6 B2 |  | 6.5000 | &nbsp;&nbsp;&nbsp;07/25/28 | 378610 |
| 1151741 | Structured Asset Securities Corporation Mortgage Pass Through Certificates Series 2003-40A B1<sup>(c)</sup> |  | 5.2880 | &nbsp;&nbsp;&nbsp;01/25/34 | 906569 |
| 1 | Structured Asset Securities Mortgage Pass-Through Series 2002-21A B1II<sup>(d)</sup> |  | 6.5470 | &nbsp;&nbsp;&nbsp;11/25/32 | 1 |
| 2674618 | TBW Mortgage-Backed Pass-Through Certificates Series 2006-1 1A1 |  | 1.0440 | &nbsp;&nbsp;&nbsp;04/25/36 | 698472 |
| 508696 | TBW Mortgage-Backed Pass-Through Certificates Series 2006-1 2A1 |  | 6.5000 | &nbsp;&nbsp;&nbsp;04/25/36 | 298251 |
| 483804 | TBW Mortgage-Backed Trust Series 2006-2 1A3 |  | 1.2700 | &nbsp;&nbsp;&nbsp;07/25/36 | 145259 |
| 1175332 | TBW Mortgage-Backed Trust Series 2006-6 A2B<sup>(f)</sup> |  | 0.8590 | &nbsp;&nbsp;&nbsp;01/25/37 | 246761 |
| 283584 | Terwin Mortgage Trust Series 2004-1HE M2<sup>(b),(c)</sup> | TSFR1M + 2.589% | 6.7470 | &nbsp;&nbsp;&nbsp;02/25/34 | 216075 |
| 2346558 | Terwin Mortgage Trust Series 2004-21HE 2M3<sup>(b),(c)</sup> | TSFR1M + 2.739% | 6.8970 | &nbsp;&nbsp;&nbsp;12/25/34 | 2359811 |
| 3050000 | Terwin Mortgage Trust Series 2006-8 1A2<sup>(b),(d)</sup> |  | 0.0580 | &nbsp;&nbsp;&nbsp;08/25/37 | 1378604 |
| 896246 | Terwin Mortgage Trust Series 2006-9HGA A3<sup>(b),(c)</sup> | TSFR1M + 0.674% | 1.3230 | &nbsp;&nbsp;&nbsp;10/25/37 | 277535 |
| 152477 | Terwin Mortgage Trust Series 2006-17HE A2B1<sup>(b),(c)</sup> | TSFR1M + 0.514% | 4.6720 | &nbsp;&nbsp;&nbsp;01/25/38 | 200911 |
| 268124 | Terwin Mortgage Trust Series 2007-6ALT A2<sup>(b),(c)</sup> | TSFR1M + 0.714% | 4.8720 | &nbsp;&nbsp;&nbsp;08/25/38 | 205356 |
| 466607 | Terwin Mortgage Trust Series TMTS Series 2003-2HE<sup>(c)</sup> | TSFR1M + 1.014% | 5.1720 | &nbsp;&nbsp;&nbsp;07/25/34 | 511082 |
| 360891 | Terwin Mortgage Trust Series TMTS Series 2004-3HE B2<sup>(b),(c)</sup> | TSFR1M + 2.964% | 7.1220 | &nbsp;&nbsp;&nbsp;03/25/35 | 423145 |
| 113410 | Thornburg Mortgage Securities Trust Series 2007-3 2A1<sup>(c)</sup> | TSFR12M + 1.965% | 5.5830 | &nbsp;&nbsp;&nbsp;06/25/47 | 111016 |
| 3060718 | Truman Capital Mortgage Loan Trust Series 2002-2 M2<sup>(b),(c)</sup> | TSFR1M + 4.764% | 8.9220 | &nbsp;&nbsp;&nbsp;11/25/32 | 2674847 |
| 380100 | Truman Capital Mortgage Loan Trust Series 2006-1 M1<sup>(b),(c)</sup> | TSFR1M + 0.834% | 4.9920 | &nbsp;&nbsp;&nbsp;03/25/36 | 354682 |
| 200207 | Truman Capital Mortgage Loan Trust Series 2005-1 M1<sup>(b),(c)</sup> | TSFR1M + 1.464% | 5.6220 | &nbsp;&nbsp;&nbsp;03/25/37 | 228316 |
| 524244 | UCFC Home Equity Loan Trust Series 1998-D BV1<sup>(c)</sup> | TSFR1M + 3.364% | 7.5150 | &nbsp;&nbsp;&nbsp;12/15/28 | 670285 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** |
| **Principal Amount ($)** |  | **Spread** | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **ASSET BACKED SECURITIES — 79.0% (Continued)** | **ASSET BACKED SECURITIES — 79.0% (Continued)** |  |  |  |
|  | **NON-AGENCY RESIDENTIAL MORTGAGE BACKED SECURITIES** — **39.6% (Continued)** | **NON-AGENCY RESIDENTIAL MORTGAGE BACKED SECURITIES** — **39.6% (Continued)** |  |  |  |
| 72019 | UCFC Manufactured Housing Contract Series 1997-3 M |  | 7.1150 | &nbsp;&nbsp;&nbsp;01/15/29 | $71638 |
| 722642 | UCFC Manufactured Housing Contract Series 1998-3 M1 |  | 6.5060 | &nbsp;&nbsp;&nbsp;01/15/30 | 720286 |
| 757726 | Voyager CNTYW Delaware Trust Series 2009-1 5AU0<sup>(b),(d)</sup> |  | 4.5050 | &nbsp;&nbsp;&nbsp;02/16/36 | 706730 |
| 1750372 | Voyager CNTYW Delaware Trust Series 2009-1 5AT3<sup>(b),(d)</sup> |  | 4.5050 | &nbsp;&nbsp;&nbsp;02/16/36 | 1666752 |
| 560927 | Voyager CNTYW Delaware Trust Series 2009-1 5AX4<sup>(b),(d),(e)</sup> |  | 4.6050 | &nbsp;&nbsp;&nbsp;02/16/36 | 523237 |
| 4593834 | Voyager CNTYW Delaware Trust Series 2009-1 5DS2<sup>(b),(d)</sup> |  | 4.4650 | &nbsp;&nbsp;&nbsp;05/16/36 | 4418181 |
| 965902 | Voyager IDYMC Delaware Trust Series 1 UAA3<sup>(b),(c)</sup> | US0001M + 1.700% | 4.4420 | &nbsp;&nbsp;&nbsp;09/26/36 | 924158 |
| 2295401 | Voyager OPTONE Delaware Trust Series 2009-1 SAA7<sup>(b),(d),(e)</sup> |  | 1.0000 | &nbsp;&nbsp;&nbsp;02/25/38 | 496555 |
| 829338 | Wachovia Mortgage Loan Trust, LLC Series 2005-A 2A1<sup>(d)</sup> |  | 3.9200 | &nbsp;&nbsp;&nbsp;08/20/35 | 765257 |
| 339182 | Wachovia Mortgage Loan Trust, LLC Series 2005-A 1A1<sup>(d)</sup> |  | 6.3580 | &nbsp;&nbsp;&nbsp;08/20/35 | 332835 |
| 32303 | Wachovia Mortgage Loan Trust, LLC Series 2006-A 1A1<sup>(d)</sup> |  | 2.8570 | &nbsp;&nbsp;&nbsp;05/20/36 | 30489 |
| 17103 | WaMu Mortgage Backed Pass Through Certificates Series 2001-AR5 B6<sup>(b),(d)</sup> |  | 6.1730 | &nbsp;&nbsp;&nbsp;12/19/39 | 13129 |
| 19149 | WaMu Mortgage Backed Pass Through Certificates Series 2001-AR5 B5<sup>(b),(d)</sup> |  | 6.1730 | &nbsp;&nbsp;&nbsp;12/19/39 | 17110 |
| 25522 | WaMu Mortgage Backed Pass Through Certificates Series 2001-AR5 B4<sup>(b),(d)</sup> |  | 6.1730 | &nbsp;&nbsp;&nbsp;12/19/39 | 23051 |
| 74834 | WaMu Mortgage Backed Pass Through Certificates Series 2001-AR5 B1<sup>(d)</sup> |  | 6.1730 | &nbsp;&nbsp;&nbsp;12/19/39 | 69520 |
| 80698 | WaMu Mortgage Pass-Through Certificates Series 2002-AR13 M1<sup>(d)</sup> |  | 7.3700 | &nbsp;&nbsp;&nbsp;10/25/32 | 77720 |
| 327689 | WaMu Mortgage Pass-Through Certificates Series 2002-AR19 B1<sup>(d)</sup> |  | 5.6500 | &nbsp;&nbsp;&nbsp;02/25/33 | 311189 |
| 1041865 | WaMu Mortgage Pass-Through Certificates Series 2003-S4 CB2<sup>(d)</sup> |  | 3.4080 | &nbsp;&nbsp;&nbsp;06/25/33 | 463571 |
| 26668 | WaMu Mortgage Pass-Through Certificates Series 2003-AR5 A7<sup>(d)</sup> |  | 5.7750 | &nbsp;&nbsp;&nbsp;06/25/33 | 26716 |
| 74263 | WaMu Mortgage Pass-Through Certificates Series 2003-AR6 A1<sup>(d)</sup> |  | 6.3810 | &nbsp;&nbsp;&nbsp;06/25/33 | 73280 |
| 139387 | WaMu Mortgage Pass-Through Certificates Series 2003-AR9 1B2<sup>(d)</sup> |  | 6.1390 | &nbsp;&nbsp;&nbsp;09/25/33 | 109515 |
| 146330 | WaMu Mortgage Pass-Through Certificates Series AR9 1B1<sup>(d)</sup> |  | 6.1390 | &nbsp;&nbsp;&nbsp;09/25/33 | 135359 |
| 529604 | WaMu Mortgage Pass-Through Certificates Series 2003-S13 CB1<sup>(d)</sup> |  | 5.9700 | &nbsp;&nbsp;&nbsp;01/25/34 | 511579 |
| 52046 | WaMu Mortgage Pass-Through Certificates Series 2004-S2 2A4 |  | 5.5000 | &nbsp;&nbsp;&nbsp;06/25/34 | 52501 |
| 32685 | WaMu Mortgage Pass-Through Certificates Series AR16 2A2<sup>(d)</sup> |  | 4.6470 | &nbsp;&nbsp;&nbsp;12/25/35 | 29873 |
| 34900 | WaMu Mortgage Pass-Through Certificates Series 2006-AR12 3A1<sup>(d)</sup> |  | 3.8660 | &nbsp;&nbsp;&nbsp;10/25/36 | 30834 |
| 165548 | WaMu Mortgage Pass-Through Certificates Series 2001-AR3 B1<sup>(d)</sup> |  | 3.5720 | &nbsp;&nbsp;&nbsp;11/25/41 | 147673 |
| 49035 | WaMu Mortgage Pass-Through Certificates Series 2002-AR6 B4<sup>(b),(c)</sup> | 12MTA + 1.400% | 5.5530 | &nbsp;&nbsp;&nbsp;06/25/42 | 40800 |
| 62243 | WaMu Mortgage Pass-Through Certificates Series 2002-AR6 B3<sup>(c)</sup> | 12MTA + 1.400% | 5.5530 | &nbsp;&nbsp;&nbsp;06/25/42 | 55518 |
| 60344 | WaMu Mortgage Pass-Through Certificates Series 2002-AR6 B2<sup>(c)</sup> | 12MTA + 1.400% | 5.5530 | &nbsp;&nbsp;&nbsp;06/25/42 | 54718 |
| 120417 | WaMu Mortgage Pass-Through Certificates Series 2002-AR6 B1<sup>(c)</sup> | 12MTA + 1.400% | 5.5530 | &nbsp;&nbsp;&nbsp;06/25/42 | 110089 |
| 33505 | WaMu Mortgage Pass-Through Certificates Series 2002-AR9 1B1<sup>(c)</sup> | 12MTA + 1.400% | 5.5530 | &nbsp;&nbsp;&nbsp;08/25/42 | 32267 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** |
| **Principal Amount ($)** |  | **Spread** | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **ASSET BACKED SECURITIES — 79.0% (Continued)** | **ASSET BACKED SECURITIES — 79.0% (Continued)** |  |  |  |
|  | **NON-AGENCY RESIDENTIAL MORTGAGE BACKED SECURITIES** — **39.6% (Continued)** | **NON-AGENCY RESIDENTIAL MORTGAGE BACKED SECURITIES** — **39.6% (Continued)** |  |  |  |
| 6659 | WaMu Mortgage Pass-Through Certificates Series 2002-AR9 1B3<sup>(c)</sup> | 12MTA + 1.400% | 5.5530 | &nbsp;&nbsp;&nbsp;08/25/42 | $4022 |
| 3576075 | Washington Mutual Asset-Backed Certificates Series 2006-HE5 1A<sup>(c)</sup> | TSFR1M + 0.424% | 4.1290 | &nbsp;&nbsp;&nbsp;10/25/36 | 2728626 |
| 1188596 | Washington Mutual Mortgage Pass-Through Series 2005-1 7A1 |  | 5.5000 | &nbsp;&nbsp;&nbsp;03/25/35 | 1029220 |
| 403604 | Washington Mutual Mortgage Pass-Through Series 7 1A2<sup>(c)</sup> | TSFR1M + 0.564% | 4.7220 | &nbsp;&nbsp;&nbsp;09/25/35 | 327859 |
| 314741 | Washington Mutual Mortgage Pass-Through Series 9 5A4<sup>(c)</sup> | TSFR1M + 35.094% | 4.6020 | &nbsp;&nbsp;&nbsp;11/25/35 | 317614 |
| 1609961 | Washington Mutual Mortgage Pass-Through Series 2006-AR1 A1A<sup>(c)</sup> | TSFR1M + 0.614% | 4.7720 | &nbsp;&nbsp;&nbsp;02/25/36 | 1353630 |
| 422593 | Washington Mutual Mortgage Pass-Through Series 2006-2 1A4<sup>(c)</sup> | US0001M + 0.700% | 4.9720 | &nbsp;&nbsp;&nbsp;03/25/36 | 389071 |
| 560978 | Washington Mutual Mortgage Pass-Through Series 2 1A1 |  | 6.0000 | &nbsp;&nbsp;&nbsp;03/25/36 | 555999 |
| 2270811 | Washington Mutual Mortgage Pass-Through Series 2006-2 3CB |  | 6.0000 | &nbsp;&nbsp;&nbsp;03/25/36 | 1777681 |
| 393453 | Washington Mutual Mortgage Pass-Through Series 2006-AR5 3A<sup>(c)</sup> | 12MTA + 0.940% | 5.0930 | &nbsp;&nbsp;&nbsp;07/25/46 | 242021 |
| 778413 | Washington Mutual Mortgage Pass-Through Series 2006-AR6 2A<sup>(c)</sup> | 12MTA + 0.960% | 5.1130 | &nbsp;&nbsp;&nbsp;08/25/46 | 448009 |
| 16148 | Washington Mutual MSC Mortgage Pass-Through Series 2002-S4 B5<sup>(b)</sup> |  | 6.5000 | &nbsp;&nbsp;&nbsp;10/19/29 | 15736 |
| 16148 | Washington Mutual MSC Mortgage Pass-Through Series 2002-S4 B4<sup>(b)</sup> |  | 6.5000 | &nbsp;&nbsp;&nbsp;10/19/29 | 15729 |
| 20272 | Washington Mutual MSC Mortgage Pass-Through Series 2003-AR1 2A<sup>(d)</sup> |  | 4.6330 | &nbsp;&nbsp;&nbsp;02/25/33 | 19804 |
| 375198 | Washington Mutual MSC Mortgage Pass-Through Series AR1 B2<sup>(d)</sup> |  | 5.2630 | &nbsp;&nbsp;&nbsp;02/25/33 | 326783 |
| 273596 | Washington Mutual MSC Mortgage Pass-Through Series 2003-MS2 CB4<sup>(b),(d)</sup> |  | 5.7600 | &nbsp;&nbsp;&nbsp;02/25/33 | 2698 |
| 30941 | Washington Mutual MSC Mortgage Pass-Through Series 2003-MS7 B1 |  | 5.7500 | &nbsp;&nbsp;&nbsp;03/25/33 | 30776 |
| 39482 | Washington Mutual MSC Mortgage Pass-Through Series 2003-MS3 CB3<sup>(d)</sup> |  | 5.7500 | &nbsp;&nbsp;&nbsp;03/25/33 | 36632 |
| 19312 | Washington Mutual MSC Mortgage Pass-Through Series 2003-MS9 2A |  | 7.5000 | &nbsp;&nbsp;&nbsp;04/25/33 | 19925 |
| 553093 | Washington Mutual MSC Mortgage Pass-Through Series 2003-AR2 M<sup>(d)</sup> |  | 4.9600 | &nbsp;&nbsp;&nbsp;05/25/33 | 545884 |
| 454536 | Washington Mutual MSC Mortgage Pass-Through Series 2004-RA2 CB1<sup>(d)</sup> |  | 6.9980 | &nbsp;&nbsp;&nbsp;07/25/33 | 379163 |
| 7712 | Wells Fargo Home Equity Asset-Backed Securities Series 2004-2 AI9<sup>(d)</sup> |  | 4.9800 | &nbsp;&nbsp;&nbsp;04/25/34 | 7866 |
| 1232491 | Wells Fargo Home Equity Asset-Backed Securities Series 2W AI8I |  | 4.9000 | &nbsp;&nbsp;&nbsp;09/25/34 | 1225097 |
| 483254 | Wells Fargo Home Equity Asset-Backed Securities Series 2 M7<sup>(c)</sup> | TSFR1M + 4.614% | 8.7720 | &nbsp;&nbsp;&nbsp;10/25/34 | 501929 |
| 693175 | Wells Fargo Home Equity Asset-Backed Securities Series 2005-1 M9<sup>(c)</sup> | TSFR1M + 2.664% | 6.8220 | &nbsp;&nbsp;&nbsp;04/25/35 | 708681 |
| 110858 | Wells Fargo Home Equity Asset-Backed Securities Series 2005-1 M10<sup>(c)</sup> | US0001M + 3.750% | 8.0220 | &nbsp;&nbsp;&nbsp;04/25/35 | 118299 |
| 22513 | Wells Fargo Mortgage Backed Securities Series 2003-I B2<sup>(d)</sup> |  | 6.3990 | &nbsp;&nbsp;&nbsp;09/25/33 | 17671 |
| 21487 | Wells Fargo Mortgage Backed Securities Series 2004-K 1A3<sup>(d)</sup> |  | 6.4900 | &nbsp;&nbsp;&nbsp;07/25/34 | 21923 |
|  |  |  |  |  | 501396371 |
|  | **OTHER ABS** — **0.1%** | **OTHER ABS** — **0.1%** |  |  |  |
| 64224 | AFC Trust Series 2000-4 1A<sup>(b),(c)</sup> | TSFR1M + 0.884% | 5.0420 | &nbsp;&nbsp;&nbsp;01/25/31 | 63702 |
| 197286 | Conseco Finance Securitizations Corporation Series 2001-3 M1<sup>(d)</sup> |  | 7.1500 | &nbsp;&nbsp;&nbsp;05/01/33 | 204408 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** |
| **Principal Amount ($)** |  | **Spread** | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **ASSET BACKED SECURITIES — 79.0% (Continued)** | **ASSET BACKED SECURITIES — 79.0% (Continued)** |  |  |  |
|  | **OTHER ABS** — **0.1% (Continued)** | **OTHER ABS** — **0.1% (Continued)** |  |  |  |
| 668943 | Credit-Based Asset Servicing and Securitization Series 2003-RP1 M2<sup>(b),(c)</sup> | TSFR1M + 4.614% | 8.7720 | &nbsp;&nbsp;&nbsp;03/25/33 | $570256 |
| 7871 | Oakwood Mortgage Investors, Inc. Series 1996-B B1<sup>(b),(d)</sup> |  | 8.4500 | &nbsp;&nbsp;&nbsp;10/15/26 | 7825 |
| 95184 | Oakwood Mortgage Investors, Inc. Series C B1<sup>(b)</sup> |  | 7.9600 | &nbsp;&nbsp;&nbsp;04/15/27 | 94674 |
|  |  |  |  |  | 940865 |
|  | **RESIDENTIAL MORTGAGE** — **0.9%** | **RESIDENTIAL MORTGAGE** — **0.9%** |  |  |  |
| 451756 | Argent Securities Inc Asset-Backed Pass-Through Series W11 M3<sup>(c)</sup> | TSFR1M + 1.239% | 5.3970 | &nbsp;&nbsp;&nbsp;11/25/34 | 452849 |
| 473304 | Countrywide Asset-Backed Certificates Series 8 M2<sup>(c)</sup> | TSFR1M + 1.314% | 5.4720 | &nbsp;&nbsp;&nbsp;12/25/34 | 472463 |
| 4468397 | CWABS Asset-Backed Certificates Trust Series 2006-14 M1<sup>(c)</sup> | TSFR1M + 0.549% | 4.7070 | &nbsp;&nbsp;&nbsp;02/25/37 | 4627087 |
| 278598 | First Franklin Mortgage Loan Trust Series 2004-FF5 A3C<sup>(c)</sup> | TSFR1M + 1.114% | 5.2720 | &nbsp;&nbsp;&nbsp;08/25/34 | 262695 |
| 417833 | First Franklin Mortgage Loan Trust Series 2004-FFH3 M2<sup>(c)</sup> | TSFR1M + 1.044% | 5.2020 | &nbsp;&nbsp;&nbsp;10/25/34 | 412416 |
| 1096856 | Fremont Home Loan Trust Series 2003-1 M1<sup>(c)</sup> | TSFR1M + 1.389% | 5.5470 | &nbsp;&nbsp;&nbsp;02/25/33 | 1223058 |
| 240402 | Merrill Lynch Mortgage Investors Trust Series Series WMC5 M1<sup>(c)</sup> | TSFR1M + 1.044% | 5.2020 | &nbsp;&nbsp;&nbsp;07/25/35 | 240553 |
| 152228 | RAAC Series Trust Series 2006-SP4 M3<sup>(c)</sup> | TSFR1M + 1.614% | 5.7720 | &nbsp;&nbsp;&nbsp;11/25/36 | 152066 |
| 290866 | Securitized Asset Backed Receivables, LLC Trust Series DO1 M2<sup>(c)</sup> | TSFR1M + 2.064% | 6.2220 | &nbsp;&nbsp;&nbsp;07/25/34 | 348990 |
| 3700207 | Structured Asset Investment Loan Trust Series BC12 2A<sup>(c)</sup> | TSFR1M + 0.834% | 4.9920 | &nbsp;&nbsp;&nbsp;11/25/33 | 3678322 |
|  |  |  |  |  | 11870499 |
|  | **STUDENT LOANS** — **0.1%** | **STUDENT LOANS** — **0.1%** |  |  |  |
| 1461006 | National Collegiate Trust Series 2007-A B<sup>(b),(c)</sup> | US0001M + 0.450% | 5.0500 | &nbsp;&nbsp;&nbsp;11/25/34 | 1358492 |
|  | **TOTAL ASSET BACKED SECURITIES (Cost $989,922,954)** | **TOTAL ASSET BACKED SECURITIES (Cost $989,922,954)** |  |  | 1001380851 |
|  | **CORPORATE BONDS — 14.1%** | **CORPORATE BONDS — 14.1%** |  |  |  |
|  | **BANKING** — **0.3%** | **BANKING** — **0.3%** |  |  |  |
| 3410000 | Southern Financial |  | 10.6000 | &nbsp;&nbsp;&nbsp;09/07/30 | 3449679 |
|  | **INSURANCE** — **12.2%** | **INSURANCE** — **12.2%** |  |  |  |
| 8499684 | Ambac Assurance Corporation |  | 5.1000 | &nbsp;&nbsp;&nbsp;06/07/60 | 10539608 |
| 93645891 | Ambac Assurance Corporation<sup>(b)</sup> |  | 5.1000 | &nbsp;&nbsp;&nbsp;06/07/69 | 116120905 |
| 10652561 | MBIA Global Funding, LLC<sup>(a),(b),(h)</sup> |  | 0.0000 | &nbsp;&nbsp;&nbsp;12/15/31 | 5294857 |
| 62490325 | MBIA Global Funding, LLC<sup>(a),(h)</sup> |  | 0.0000 | &nbsp;&nbsp;&nbsp;12/15/33 | 23277646 |
|  |  |  |  |  | 155233016 |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** | **RATIONAL SPECIAL SITUATIONS INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** |
| **Principal Amount ($)** |  | **Spread** | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **CORPORATE BONDS — 14.1% (Continued)** | **CORPORATE BONDS — 14.1% (Continued)** |  |  |  |
|  | **REAL ESTATE OWNERS & DEVELOPERS** — **0.4%** | **REAL ESTATE OWNERS & DEVELOPERS** — **0.4%** |  |  |  |
| 3500000 | Brixmor, LLC |  | 7.6500 | &nbsp;&nbsp;&nbsp;11/02/26 | $3466530 |
| 1630000 | Brixmor, LLC |  | 6.9000 | &nbsp;&nbsp;&nbsp;02/15/28 | 1619052 |
|  |  |  |  |  | 5085582 |
|  | **SPECIALTY FINANCE** — **1.2%** | **SPECIALTY FINANCE** — **1.2%** |  |  |  |
| 13697066 | MSP Deer Finance Syndicated Loan<sup>(g)</sup> |  | 17.0000 | &nbsp;&nbsp;&nbsp;04/09/26 | 7533386 |
| 1988199 | PDOF MSN Issuer, LLC<sup>(b),(c)</sup> | SOFRRATE + 4.500% | 8.6300 | &nbsp;&nbsp;&nbsp;03/01/26 | 1959119 |
| 830739 | US Capital Funding II Ltd.<sup>(a),(b),(c)</sup> | TSFR3M + 1.912% | 6.2080 | &nbsp;&nbsp;&nbsp;08/01/34 | 753720 |
| 1275000 | X-Caliber Funding, LLC<sup>(b)</sup> |  | 11.0000 | &nbsp;&nbsp;&nbsp;10/25/25 | 1265565 |
| 4000000 | X-Caliber Funding, LLC<sup>(b)</sup> |  | 7.0000 | &nbsp;&nbsp;&nbsp;09/24/26 | 3959920 |
|  |  |  |  |  | 15471710 |
|  | **TOTAL CORPORATE BONDS (Cost $204,604,217)** | **TOTAL CORPORATE BONDS (Cost $204,604,217)** |  |  | 179239987 |
|  | **TERM LOANS — 0.1%** | **TERM LOANS — 0.1%** |  |  |  |
|  | **PROFESSIONAL SERVICES** — **0.1%** | **PROFESSIONAL SERVICES** — **0.1%** |  |  |  |
| 1801915 | Farrel & Fuller Delayed Draw Term Loan |  | 18.0000 | &nbsp;&nbsp;&nbsp;03/13/29 | 1815429 |
|  | **TOTAL TERM LOANS (Cost $1,801,915)** | **TOTAL TERM LOANS (Cost $1,801,915)** |  |  | 1815429 |
| **Shares** |  |  |  |  |  |
|  | **SHORT-TERM INVESTMENTS — 6.5%** | **SHORT-TERM INVESTMENTS — 6.5%** |  |  |  |
|  | **MONEY MARKET FUNDS - 6.5%** | **MONEY MARKET FUNDS - 6.5%** |  |  |  |
| 82110537 | First American Treasury Obligations Fund, Class X, 4.02% (Cost $82,110,537)<sup>(i)</sup> |  |  |  | &nbsp;&nbsp;&nbsp; 82110537 |
|  | **TOTAL INVESTMENTS - 100.5% (Cost $1,287,992,498)** | **TOTAL INVESTMENTS - 100.5% (Cost $1,287,992,498)** |  |  | &nbsp;&nbsp;&nbsp; $1274092804 |
|  | **LIABILITIES IN EXCESS OF OTHER ASSETS - (0.5)%** | **LIABILITIES IN EXCESS OF OTHER ASSETS - (0.5)%** |  |  | &nbsp;&nbsp; (6044346) |
|  | **NET ASSETS - 100.0%** |  |  |  | &nbsp;&nbsp; $1268048458 |

---

---

| |
|:---|
| **RATIONAL SPECIAL SITUATIONS INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **September 30, 2025** |

---

---

| | |
|:---|:---|
| LLC | - Limited Liability Company |
| LTD | - Limited Company |
| REMIC | - Real Estate Mortgage Investment Conduit |
| 12MTA | Federal Reserve US 12 Month Cumulative Avg 1 Year CMT |
| H15T1Y | US Treasury Yield Curve Rate T Note Constant Maturity 1 Year |
| PRIME | Prime Rate by Country United States |
| SOFR30A | United States 30 Day Average SOFR Secured Overnight Financing Rate |
| SOFRRATE | United States SOFR Secured Overnight Financing Rate |
| TSFR1M | 1 Month Secured Overnight Financing Rate |
| TSFR3M | 3 Month Secured Overnight Financing Rate |
| TSFR6M | 6 Month Secured Overnight Financing Rate |
| TSFR12M | 12 Month Secured Overnight Financing Rate |
| US0001M | ICE LIBOR USD 1 Month |

---

<sup>(a)</sup> Illiquid security. The total fair value of these securities as of September 30, 2025 was $56,994,656, representing 4.6% of net assets.

<sup>(b)</sup> Security exempt from registration under Rule 144A or Section 4(2) of the Securities Act of 1933. The security may be resold in transactions exempt from registration, normally to qualified institutional buyers. As of September 30, 2025 the total market value of 144A securities is $628,653,786 or 49.6% of net assets.

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

<sup>(d)</sup> Variable rate security; the rate shown represents the rate on September 30, 2025.

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

<sup>(f)</sup> Step bond. Coupon rate is fixed rate that changes on a specified date. The rate shown is the current rate at September 30, 2025.

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

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **RATIONAL/RGN HEDGED EQUITY FUND** | **RATIONAL/RGN HEDGED EQUITY FUND** | **RATIONAL/RGN HEDGED EQUITY FUND** | **RATIONAL/RGN HEDGED EQUITY FUND** | **RATIONAL/RGN HEDGED EQUITY FUND** |
| **CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)** | **CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)** | **CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)** | **CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)** | **CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)** |
| **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** |
| **Shares** |  |  |  | **Fair Value** |
|  | **EXCHANGE-TRADED FUNDS — 81.6%** |  |  |  |
|  | **EQUITY - 81.6%** |  |  |  |
| 5606 | SPDR S&P 500 ETF |  |  | &nbsp;&nbsp;&nbsp; $3734605 |
| 8800 | Vanguard S&P 500 ETF |  |  | &nbsp;&nbsp;&nbsp; 5388944 |
|  |  |  |  | &nbsp;&nbsp; 9123549 |
|  | **TOTAL EXCHANGE-TRADED FUNDS (Cost $7,884,668)** |  |  | &nbsp;&nbsp; 9123549 |
|  | **SHORT-TERM INVESTMENTS — 4.2%** |  |  |  |
|  | **MONEY MARKET FUNDS - 4.2%** |  |  |  |
| 474601 | First American Treasury Obligations Fund, Class X, 4.02% (Cost $474,601)<sup>(a)</sup> |  |  | &nbsp;&nbsp;&nbsp; 474601 |
|  | **TOTAL INVESTMENTS - 85.8% (Cost $8,359,269)** |  |  | &nbsp;&nbsp;&nbsp; $9598150 |
|  | **OTHER ASSETS IN EXCESS OF LIABILITIES- 14.2%** |  |  | &nbsp;&nbsp; 1582715 |
|  | **NET ASSETS - 100.0%** |  |  | &nbsp;&nbsp; $11180865 |
| **OPEN FUTURES CONTRACTS** | **OPEN FUTURES CONTRACTS** |  |  |  |
| **Number of Contracts** | **Open Long Futures Contracts** | **Expiration** | **Notional Amount<sup>(b)</sup>** | **Value and Unrealized Appreciation (Depreciation)** |
| 5 | CBOT 10 Year US Treasury Note Future | 12/22/2025 | &nbsp;&nbsp;&nbsp; $562500 | &nbsp;&nbsp;&nbsp; $(328) |
| 1 | CBOT 5 Year US Treasury Note Future | 01/02/2026 | &nbsp;&nbsp;&nbsp; 109195 | &nbsp;&nbsp;&nbsp; 86 |
| 6 | CBOT Soybean Oil Future<sup>(c)</sup> | 12/15/2025 | &nbsp;&nbsp;&nbsp; 178164 | &nbsp;&nbsp;&nbsp; (12385) |
| 1 | CBOT US Treasury Bond Future | 12/22/2025 | &nbsp;&nbsp;&nbsp; 116594 | &nbsp;&nbsp;&nbsp; (125) |
| 1 | CME E-Mini NASDAQ 100 Index Future | 12/22/2025 | &nbsp;&nbsp;&nbsp; 498035 | &nbsp;&nbsp;&nbsp; 1320 |
| 2 | CME E-mini Russell 2000 Index Future | 12/22/2025 | &nbsp;&nbsp;&nbsp; 245550 | &nbsp;&nbsp;&nbsp; 720 |
| 9 | CME E-Mini Standard & Poor's 500 Index Future | 12/22/2025 | &nbsp;&nbsp;&nbsp; 3032438 | &nbsp;&nbsp;&nbsp; 13738 |
| 1 | CME Ether Future<sup>(c)</sup> | 11/03/2025 | &nbsp;&nbsp;&nbsp; 209575 | &nbsp;&nbsp;&nbsp; 395 |
| 30 | CME Mexican Peso Currency Future | 12/16/2025 | &nbsp;&nbsp;&nbsp; 811800 | &nbsp;&nbsp;&nbsp; 5080 |
| 37 | CME Micro Bitcoin Future<sup>(c)</sup> | 11/03/2025 | &nbsp;&nbsp;&nbsp; 426185 | &nbsp;&nbsp;&nbsp; 10713 |
| 3 | COMEX Gold 100 Troy Ounces Future<sup>(c)</sup> | 12/30/2025 | &nbsp;&nbsp;&nbsp; 1161960 | &nbsp;&nbsp;&nbsp; 12540 |
| 3 | COMEX Silver Future<sup>(c)</sup> | 12/30/2025 | &nbsp;&nbsp;&nbsp; 699600 | &nbsp;&nbsp;&nbsp; 17875 |
| 1 | Euro-BTP Italian Bond Future | 12/09/2025 | &nbsp;&nbsp;&nbsp; 140690 | &nbsp;&nbsp;&nbsp; 246 |
| 3 | FTSE 100 Index Future | 12/22/2025 | &nbsp;&nbsp;&nbsp; 379564 | &nbsp;&nbsp;&nbsp; 3581 |
| 2 | HKG Hang Seng Index Future | 10/31/2025 | &nbsp;&nbsp;&nbsp; 345830 | &nbsp;&nbsp;&nbsp; 2897 |
| 3 | ICE US MSCI Emerging Markets EM Index Future | 12/22/2025 | &nbsp;&nbsp;&nbsp; 203955 | &nbsp;&nbsp;&nbsp; 3210 |
| 8 | Micro E-mini S&P 500 Future | 12/22/2025 | &nbsp;&nbsp;&nbsp; 269550 | &nbsp;&nbsp;&nbsp; 3612 |
| 2 | NYBOT CSC C Coffee Future<sup>(c)</sup> | 12/19/2025 | &nbsp;&nbsp;&nbsp; 281138 | &nbsp;&nbsp;&nbsp; (13687) |
| 1 | NYMEX Henry Hub Natural Gas Future<sup>(c)</sup> | 10/30/2025 | &nbsp;&nbsp;&nbsp; 33030 | &nbsp;&nbsp;&nbsp; 280 |
| 3 | NYMEX NY Harbor ULSD Future<sup>(c)</sup> | 11/03/2025 | &nbsp;&nbsp;&nbsp; 292837 | &nbsp;&nbsp;&nbsp; (7) |
| 4 | NYMEX Reformulated Gasoline Blendstock for Oxygen Blending RBOB Future<sup>(c)</sup> | 11/03/2025 | &nbsp;&nbsp;&nbsp; 322946 | &nbsp;&nbsp;&nbsp; (4844) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **RATIONAL/RGN HEDGED EQUITY FUND** | **RATIONAL/RGN HEDGED EQUITY FUND** | **RATIONAL/RGN HEDGED EQUITY FUND** | **RATIONAL/RGN HEDGED EQUITY FUND** | **RATIONAL/RGN HEDGED EQUITY FUND** |
| **CONSOLIDATED CHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **CONSOLIDATED CHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **CONSOLIDATED CHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **CONSOLIDATED CHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **CONSOLIDATED CHEDULE OF INVESTMENTS (Unaudited) (Continued)** |
| **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** |
| **OPEN FUTURES CONTRACTS (Continued)** | **OPEN FUTURES CONTRACTS (Continued)** | | | |
| **Number of Contracts** | **Open Long Futures Contracts** | **Expiration** | **Notional Amount<sup>(b)</sup>** | **Value and Unrealized Appreciation (Depreciation)** |
| 2 | SGX Nikkei 225 Stock Index Future | 12/12/2025 | &nbsp;&nbsp;&nbsp; $303687 | &nbsp;&nbsp;&nbsp; $(1150) |
|  | **TOTAL OPEN LONG FUTURES CONTRACTS** | **TOTAL OPEN LONG FUTURES CONTRACTS** |  | &nbsp;&nbsp; $43767 |
| **OPEN FUTURES CONTRACTS** | **OPEN FUTURES CONTRACTS** |  |  |  |
| **Number of Contracts** | **Open Short Futures Contracts** | **Expiration** | **Notional Amount<sup>(b)</sup>** | **Value and Unrealized Appreciation (Depreciation)** |
| 5 | CBOT 2 Year US Treasury Note Future | 01/01/2026 | &nbsp;&nbsp;&nbsp; $1041992 | &nbsp;&nbsp;&nbsp; $461 |
| 5 | CBOT Corn Future<sup>(c)</sup> | 12/15/2025 | &nbsp;&nbsp;&nbsp; 103875 | &nbsp;&nbsp;&nbsp; 1263 |
| 2 | CBOT Soybean Future<sup>(c)</sup> | 11/17/2025 | &nbsp;&nbsp;&nbsp; 100175 | &nbsp;&nbsp;&nbsp; 2363 |
| 2 | CBOT Soybean Meal Future<sup>(c)</sup> | 12/15/2025 | &nbsp;&nbsp;&nbsp; 54660 | &nbsp;&nbsp;&nbsp; 1090 |
| 2 | CME Australian Dollar Currency Future | 12/16/2025 | &nbsp;&nbsp;&nbsp; 132440 | &nbsp;&nbsp;&nbsp; (1175) |
| 2 | CME British Pound Currency Future | 12/16/2025 | &nbsp;&nbsp;&nbsp; 168138 | &nbsp;&nbsp;&nbsp; (644) |
| 7 | CME Canadian Dollar Currency Future | 12/17/2025 | &nbsp;&nbsp;&nbsp; 504700 | &nbsp;&nbsp;&nbsp; 2420 |
| 1 | CME Euro Foreign Exchange Currency Future | 12/16/2025 | &nbsp;&nbsp;&nbsp; 147400 | &nbsp;&nbsp;&nbsp; (137) |
| 13 | CME Japanese Yen Currency Future | 12/16/2025 | &nbsp;&nbsp;&nbsp; 1107275 | &nbsp;&nbsp;&nbsp; (8632) |
| 6 | Eurex 10 Year Euro BUND Future | 12/09/2025 | &nbsp;&nbsp;&nbsp; 905635 | &nbsp;&nbsp;&nbsp; (1006) |
| 26 | Eurex 2 Year Euro SCHATZ Future | 12/09/2025 | &nbsp;&nbsp;&nbsp; 3265415 | &nbsp;&nbsp;&nbsp; 1206 |
| 8 | Eurex 5 Year Euro BOBL Future | 12/09/2025 | &nbsp;&nbsp;&nbsp; 1106457 | &nbsp;&nbsp;&nbsp; (719) |
| 2 | French Government Bond Futures | 12/09/2025 | &nbsp;&nbsp;&nbsp; 284926 | &nbsp;&nbsp;&nbsp; 378 |
| 6 | Long Gilt Future | 12/30/2025 | &nbsp;&nbsp;&nbsp; 733024 | &nbsp;&nbsp;&nbsp; (1755) |
| 1 | NYBOT CTN Number 2 Cotton Future<sup>(c)</sup> | 12/09/2025 | &nbsp;&nbsp;&nbsp; 32885 | &nbsp;&nbsp;&nbsp; 110 |
| 5 | SGX FTSE China A50 Futures Contract | 10/31/2025 | &nbsp;&nbsp;&nbsp; 75575 | &nbsp;&nbsp;&nbsp; 3 |
| 1 | Ultra 10-Year US Treasury Note Future | 12/22/2025 | &nbsp;&nbsp;&nbsp; 115078 | &nbsp;&nbsp;&nbsp; (437) |
| 1 | Ultra U.S. Treasury Bond Future | 12/22/2025 | &nbsp;&nbsp;&nbsp; 120063 | &nbsp;&nbsp;&nbsp; (313) |
|  | **TOTAL OPEN SHORT FUTURES CONTRACTS** | **TOTAL OPEN SHORT FUTURES CONTRACTS** |  | &nbsp;&nbsp; $(5524) |

---

ETF - Exchange-Traded Fund

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

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

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

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

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

  - **City:** INDIANAPOLIS

  - **State:** IN

  - **Foreign country:** US

  - **Zip / Postal Code:** 46208

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

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

- **a. Name of Series:** Rational Strategic Allocation Fund

- **b. EDGAR series identifier (if any):** S000026200

- **c. LEI of Series:** 549300P7C5XR7R111Q92

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

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-09-30

**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:** $10258578.14

**Total Liabilities:** $49548.76

**Net Assets:** $10209029.38

**Cash Not Reported:** $1426292.52

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000169252 | 3.99%                | 4.96%                | 5.82%                |
| Class ID C000169251 | 4.01%                | 4.85%                | 5.69%                |
| Class ID C000078667 | 3.97%                | 4.93%                | 5.85%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $181828.59                                 |
| Month 2  | $0.00                    | $315860.59                                 |
| Month 3  | $0.00                    | $255957.80                                 |

**Designated Index Information**

- **Index Name:** S&P 500 (Price)

- **Index Identifier:** 500

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Mutual Fd & Var Ins Tr              | R/P88-CNVRT-INS         | CUSIP: 628255390<br>LEI: 5493004PTLTEAXU9GG06 | Long             | EC               | RF                | US        |      2688 | NS      | $29919.86     | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Funds Inc.           | FIRST AM-TR OB-X        | CUSIP: 31846V328<br>LEI: 549300J5J5SJCZ9IA369 | Long             | STIV             | RF                | US        |     30043 | PA      | $30043.35     | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| AQR Funds                           | AQR-L/S EQTY-N          | CUSIP: 00203H438<br>LEI: 549300V0TAB4ICSX2404 | Long             | EC               | RF                | US        |     20991 | NS      | $406390.67    | 3.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Mutual Fund Series Trust            | CTLYST-S/S I-I          | CUSIP: 62827M888<br>LEI: 5493002ZGLQMLR4QMA96 | Long             | EC               | RF                | US        |     24111 | NS      | $222059.76    | 2.18%             |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury Bills        | B 09/03/26              | CUSIP: 912797RS8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    350000 | PA      | $338597.76    | 3.32%             | 2026-09-03      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Mutual Fund Series Trust            | CTLYST-S/A-I            | CUSIP: 62827M417<br>LEI: 5493002ZGLQMLR4QMA96 | Long             | EC               | RF                | US        |    727298 | NS      | $7668341.28   | 75.11%            |  |  |  | No            |                  1 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE (FLOOR) | S&P500 EMINI FUT  Dec25 | CUSIP: N/A<br>LEI: SNZ2OJLFK8MNNCLQOF39       | Long             | DE               | CORP              | US        |        31 | NC      | $110215.00    | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-10-28

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

**Signature:** Erik Naviloff

**Name of Signer:** Erik Naviloff

**Title:** Treasurer