CATALYST INSIDER BUYING FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)

September 30, 2025

Shares			Fair Value
		COMMON STOCKS — 86.0%
		AEROSPACE & DEFENSE - 0.6%
	900	TAT Technologies Ltd.(a)	$	39,627
	56	TransDigm Group, Inc.		73,809
				113,436
		ASSET MANAGEMENT - 19.4%
	910	Apollo Global Management, Inc.		121,276
	655	Ares Management Corporation, Class A		104,728
	8,425	Blue Owl Capital, Inc.		142,635
	1,635	KKR & Company, Inc.		212,468
	1,710	LPL Financial Holdings, Inc.		568,900
	2,560	Raymond James Financial, Inc.		441,856
	13,650	Robinhood Markets, Inc., Class A(a)		1,954,407
				3,546,270
		AUTOMOTIVE - 0.1%
	700	XPEL, Inc.(a)		23,149
		BANKING - 0.4%
	2,450	Merchants Bancorp		77,910
		BIOTECH & PHARMA - 4.2%
	100	Corcept Therapeutics, Inc.(a)		8,311
	6,875	TransMedics Group, Inc.(a),(b)		771,375
				779,686
		CONSUMER SERVICES - 2.9%
	3,560	Stride, Inc.(a)		530,226
		ELECTRICAL EQUIPMENT - 1.5%
	1,525	Badger Meter, Inc.		272,335
		ENGINEERING & CONSTRUCTION - 5.6%
	850	Comfort Systems USA, Inc.		701,402
	220	IES Holdings, Inc.(a)		87,483
	590	Quanta Services, Inc.		244,508
				1,033,393

CATALYST INSIDER BUYING FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

September 30, 2025

Shares			Fair Value
		COMMON STOCKS — 86.0% (Continued)
		HEALTH CARE FACILITIES & SERVICES - 3.5%
	140	Ensign Group, Inc. (The)	$	24,188
	1,190	Medpace Holdings, Inc.(a)		611,850
				636,038
		INSTITUTIONAL FINANCIAL SERVICES - 2.9%
	5,174	StoneX Group, Inc.(a)		522,160
		INSURANCE - 3.1%
	420	Brown & Brown, Inc.		39,392
	12,850	International General Insurance Holdings Ltd.		298,120
	540	Kinsale Capital Group, Inc.		229,640
				567,152
		INTERNET MEDIA & SERVICES - 8.0%
	215	Alphabet, Inc., Class A		52,267
	900	Groupon, Inc.(a)		21,015
	680	Meta Platforms, Inc., Class A		499,378
	6,400	Opera Ltd. - ADR		132,096
	7,840	Uber Technologies, Inc.(a)		768,085
				1,472,841
		METALS & MINING - 3.6%
	950	Agnico Eagle Mines Ltd.		160,132
	10,450	Kinross Gold Corporation		259,683
	2,875	Newmont Corporation		242,391
				662,206
		OIL & GAS PRODUCERS - 0.2%
	100	Murphy USA, Inc.		38,826
		RETAIL - DISCRETIONARY - 1.5%
	15	AutoZone, Inc.(a)		64,354
	1,875	O’Reilly Automotive, Inc.(a)		202,143
				266,497
		SOFTWARE - 16.5%
	6,900	AvePoint, Inc.(a)		103,569
	2,600	Cellebrite DI Ltd.(a)		48,178
	1,115	CyberArk Software Ltd.(a)		538,712

CATALYST INSIDER BUYING FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

September 30, 2025

Shares			Fair Value
		COMMON STOCKS — 86.0% (Continued)
		SOFTWARE - 16.5% (Continued)
	5,075	Fortinet, Inc.(a)	$	426,706
	21,700	GigaCloud Technology, Inc., Class A(a)		616,280
	80	Microsoft Corporation		41,436
	660	Monday.com Ltd.(a)		127,835
	11,380	Oddity Tech Ltd.(a)		708,975
	280	Qualys, Inc.(a)		37,052
	400	Rubrik, Inc., Class A(a)		32,900
	700	Samsara, Inc., Class A(a)		26,075
	650	Synopsys, Inc.(a)		320,704
				3,028,422
		SPECIALTY FINANCE - 0.6%
	525	Dave, Inc.(a)		104,659
		TECHNOLOGY HARDWARE - 2.7%
	2,800	Arista Networks, Inc.(a)		407,988
	635	Fiserv, Inc.(a)		81,871
				489,859
		TECHNOLOGY SERVICES - 4.7%
	766	Mastercard, Inc., Class A		435,708
	60	MSCI, Inc.		34,045
	7,500	Nayax Ltd.(a)		357,075
	80	Visa, Inc., Class A		27,310
				854,138
		TELECOMMUNICATIONS - 0.6%
	9,700	Allot Ltd.(a)		102,626
		WHOLESALE - DISCRETIONARY - 3.4%
	4,630	Climb Global Solutions, Inc.		624,310
	135	Copart, Inc.(a)		6,071
				630,381
		TOTAL COMMON STOCKS (Cost $12,290,446)		15,752,210

CATALYST INSIDER BUYING FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

September 30, 2025

Principal Amount ($)			Coupon Rate (%)	Maturity	Fair Value
		U.S. GOVERNMENT & AGENCIES — 12.6%
		U.S. TREASURY BILLS — 12.6%
	1,492,000	United States Treasury Bill(d),(f)	—	10/30/25	$	1,487,144
	850,000	United States Treasury Bill(d),(f)	—	08/06/26		824,151
		TOTAL U.S. GOVERNMENT & AGENCIES (Cost $2,310,165)				2,311,295
Shares					Fair Value
		SHORT-TERM INVESTMENTS — 3.0%
		COLLATERAL FOR SECURITIES LOANED - 1.1%
	205,390	Mount Vernon Liquid Assets Portfolio, 4.22% (Cost $205,390)(e)				205,390
		MONEY MARKET FUNDS - 1.9%
	336,101	First American Treasury Obligations Fund, Class X, 4.02% (Cost $336,101)(e)				336,101
		TOTAL SHORT-TERM INVESTMENTS (Cost $541,491)				541,491
		TOTAL INVESTMENTS - 101.6% (Cost $15,142,102)			$	18,604,996
		LIABILITIES IN EXCESS OF OTHER ASSETS - (1.6)%				(293,170	)
		NET ASSETS - 100.0%			$	18,311,826

ADR	- American Depositary Receipt
LTD	- Limited Company
MSCI	- Morgan Stanley Capital International

(a)	Non-income producing security.
(b)	All or a portion of this security is on loan. The total fair value of securities on loan as of September 30, 2025 was $200,389.
(c)	Security was purchased with cash received as collateral for securities on loan at September 30, 2025. Total collateral had a value of $205,390 at September 30, 2025.
(d)	Zero coupon bond.
(e)	Rate disclosed is the seven day effective yield as of September 30, 2025.
(f)	All or a portion of this investment is a holding of the CIBF Fund Ltd.

CATALYST INSIDER BUYING FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

September 30, 2025

TOTAL RETURN SWAP - (1.4)% +

Shares		Reference Entity	Payment Frequency	Pay Fixed Rate	Upfront Payments	Counterparty	Maturity	Notional Amount			Unrealized Depreciation
	7,000	CIBC Macro Hedge Index	Monthly	0.5000%	—	CIBC	11/30/2025		(23,248,671	)	$	(247,481	)
											$	(247,481	)

The CIBC Macro Hedge Index (“CIBQMCRO”) is a rules based index designed to capitalize on structural inefficiencies and behavioral biases present within the commodity markets. The CIBQMCRO is comprised of five rules-based index components created by CIBC. *

+ This instrument is held by CIBF Fund Ltd.

* Additional information can be found on https://indices.cibccm.com/CIBQMCRO/

CATALYST/WARRINGTON STRATEGIC PROGRAM FUND

SCHEDULE OF INVESTMENTS (Unaudited)

September 30, 2025

Principal Amount ($)			Coupon Rate (%)	Maturity	Fair Value
		U.S. GOVERNMENT & AGENCIES — 77.3%
		U.S. TREASURY BILLS — 77.3%
	23,000,000	United States Treasury Bill(a)(d)	3.7517	01/22/26	$	22,726,751
	37,000,000	United States Treasury Bill(a)	3.5399	06/11/26		36,075,887
						58,802,638
		TOTAL U.S. GOVERNMENT & AGENCIES (Cost $58,708,524)				58,802,638
Shares
		SHORT-TERM INVESTMENTS — 14.7%
		MONEY MARKET FUNDS - 14.7%
	11,167,728	First American Treasury Obligations Fund, Class X, 4.02% (Cost $11,167,728)(b)				11,167,728

Contracts(c)			Broker/ Counterparty	Expiration Date	Exercise Price		Notional Value		Fair Value
		FUTURE OPTIONS PURCHASED - 0.1%
		PUT OPTIONS PURCHASED - 0.1%
	780	S&P Emini Future, Maturing October 2025	ADM	10/01/2025	$	6,000	$	234,000,000	$	1,950
	220	S&P Emini Future, Maturing October 2025	FCS	10/01/2025		6,000		66,000,000		550
	390	S&P Emini Future, Maturing October 2025	ADM	10/01/2025		6,400		124,800,000		4,875
	110	S&P Emini Future, Maturing October 2025	FCS	10/01/2025		6,400		35,200,000		1,375
	2,200	S&P Emini Future, Maturing October 2025	ADM	10/02/2025		5,500		605,000,000		5,500
	600	S&P Emini Future, Maturing October 2025	FCS	10/02/2025		5,500		165,000,000		1,500
	780	S&P Emini Future, Maturing October 2025	ADM	10/06/2025		6,075		236,925,000		23,400
	220	S&P Emini Future, Maturing October 2025	FCS	10/06/2025		6,075		66,825,000		6,600
	390	S&P Emini Future, Maturing October 2025	ADM	10/06/2025		6,375		124,312,500		36,075
	110	S&P Emini Future, Maturing October 2025	FCS	10/06/2025		6,375		35,062,500		10,175
		TOTAL PUT OPTIONS PURCHASED (Cost - $275,750)								92,000
		TOTAL FUTURE OPTIONS PURCHASED (Cost - $275,750)								92,000
		TOTAL INVESTMENTS - 92.1% (Cost $70,152,002)							$	70,062,366
		PUT OPTIONS WRITTEN – (0.1)% (Premiums received - $267,500)								(87,500	)
		OTHER ASSETS IN EXCESS OF LIABILITIES - 8.0%								6,067,045
		NET ASSETS - 100.0%							$	76,041,911
Contracts(c)			Counterparty	Expiration Date	Exercise Price		Notional Value		Fair Value
		WRITTEN FUTURE OPTIONS - 0.1%
		PUT OPTIONS WRITTEN - 0.1%
	1,560	S&P Emini Future, Maturing October 2025	ADM	10/01/2025	$	5,750	$	448,500,000	$	3,900
	440	S&P Emini Future, Maturing October 2025	FCS	10/01/2025		5,750		126,500,000		1,100
	780	S&P Emini Future, Maturing October 2025	ADM	10/01/2025		6,200		241,800,000		5,850

CATALYST/WARRINGTON STRATEGIC PROGRAM FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

September 30, 2025

Contracts(c)			Counterparty	Expiration Date	Exercise Price		Notional Value		Fair Value
		WRITTEN FUTURE OPTIONS - 0.1% (Continued)
		PUT OPTIONS WRITTEN - 0.1% (Continued)
	220	S&P Emini Future, Maturing October 2025	FCS	10/01/2025	$	6,200	$	68,200,000	$	1,650
	1,560	S&P Emini Future, Maturing October 2025	ADM	10/06/2025		5,800		452,400,000		19,500
	440	S&P Emini Future, Maturing October 2025	FCS	10/06/2025		5,800		127,600,000		5,500
	780	S&P Emini Future, Maturing October 2025	ADM	10/06/2025		6,225		242,775,000		39,000
	220	S&P Emini Future, Maturing October 2025	FCS	10/06/2025		6,225		68,475,000		11,000
		TOTAL PUT OPTIONS WRITTEN (Proceeds - $267,500)								87,500
		TOTAL FUTURE OPTIONS WRITTEN (Proceeds - $267,500)							$	87,500

ADM	ADM Investor Services, Inc.
FCS	StoneX Group, Inc.

(a)	Zero coupon bond.
(b)	Rate disclosed is the seven day effective yield as of September 30, 2025.
(c)	Each contract is equivalent to one futures contract.
(d)	All or a portion held as collateral for options.

CATALYST INSIDER INCOME FUND

SCHEDULE OF INVESTMENTS (Unaudited)

September 30, 2025

Principal Amount ($)			Coupon Rate (%)	Maturity	Fair Value
		CONVERTIBLE BONDS — 25.2%
		ASSET MANAGEMENT — 4.4%
	2,600,000	New Mountain Finance Corporation	7.5000	10/15/25	$	2,602,600
		SPECIALTY FINANCE — 20.8%
	4,203,000	PennyMac Corporation	5.5000	03/15/26		4,194,594
	1,000,000	PennyMac Corporation	8.5000	06/01/29		1,033,500
	7,000,000	Two Harbors Investment Corporation	6.2500	01/15/26		7,000,003
						12,228,097
		TOTAL CONVERTIBLE BONDS (Cost $14,703,548)				14,830,697
		CORPORATE BONDS — 73.7%
		AEROSPACE & DEFENSE — 4.3%
	2,500,000	TransDigm, Inc.(a)	6.7500	08/15/28		2,550,840
		ASSET MANAGEMENT — 13.8%
	2,800,000	Ares Capital Corporation	2.8750	06/15/28		2,674,004
	2,700,000	Blue Owl Capital Corporation	2.8750	06/11/28		2,556,177
	2,900,000	Main Street Capital Corporation	3.0000	07/14/26		2,864,604
						8,094,785
		AUTOMOTIVE — 4.5%
	2,250,000	Ford Motor Company	9.6250	04/22/30		2,627,435
		BEVERAGES — 3.4%
	2,000,000	Keurig Dr Pepper, Inc.	3.4000	11/15/25		1,997,075
		CHEMICALS — 5.1%
	2,967,000	DuPont de Nemours, Inc.	4.4930	11/15/25		2,966,047
		ENGINEERING & CONSTRUCTION — 0.1%
	50,000	MasTec, Inc.(a)	6.6250	08/15/29		50,214
		HEALTH CARE FACILITIES & SERVICES — 4.8%
	2,800,000	HCA, Inc.	5.2500	06/15/26		2,805,769

CATALYST INSIDER INCOME FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

September 30, 2025

Principal Amount ($)			Coupon Rate (%)	Maturity	Fair Value
		CORPORATE BONDS — 73.7% (Continued)
		HOME CONSTRUCTION — 4.3%
	2,500,000	Century Communities, Inc.	6.7500	06/01/27	$	2,501,146
		INSURANCE — 6.1%
	2,862,526	Ambac Assurance Corporation(a),(b)	5.1000	Perpetual		3,564,948
		INTERNET MEDIA & SERVICES — 1.2%
	722,000	Expedia Group, Inc.	5.0000	02/15/26		722,059
		LEISURE PRODUCTS — 4.2%
	2,500,000	Mattel, Inc.(a)	3.3750	04/01/26		2,482,513
		METALS & MINING — 0.5%
	299,000	Warrior Met Coal, Inc.(a)	7.8750	12/01/28		304,732
		OIL & GAS PRODUCERS — 3.4%
	2,000,000	Murphy Oil USA, Inc.	5.6250	05/01/27		2,003,862
		SEMICONDUCTORS — 7.1%
	1,675,000	Amkor Technology, Inc.(a)	6.6250	09/15/27		1,679,923
	2,500,000	Skyworks Solutions, Inc.	1.8000	06/01/26		2,459,174
						4,139,097
		STEEL — 2.5%
	1,450,000	Steel Dynamics, Inc.	5.0000	12/15/26		1,450,437
		TELECOMMUNICATIONS — 4.2%
	2,500,000	Verizon Communications, Inc.	0.8500	11/20/25		2,488,621
		TRANSPORTATION & LOGISTICS — 4.2%
	2,500,000	United Airlines, Inc.(a)	4.3750	04/15/26		2,494,737
		TOTAL CORPORATE BONDS (Cost $43,395,401)				43,244,317

CATALYST INSIDER INCOME FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

September 30, 2025

Shares			Fair Value
		SHORT-TERM INVESTMENTS — 12.5%
		MONEY MARKET FUNDS - 12.5%
	7,337,332	First American Treasury Obligations Fund, Class X, 4.02% (Cost $7,337,332)(c)	$	7,337,332
		TOTAL INVESTMENTS - 111.4% (Cost $65,436,281)	$	65,412,346
		LIABILITIES IN EXCESS OF OTHER ASSETS - (11.4)%		(6,712,259	)
		NET ASSETS - 100.0%	$	58,700,087

(a)	Security exempt from registration under Rule 144A or Section 4(2) of the Securities Act of 1933. The security may be resold in transactions exempt from registration, normally to qualified institutional buyers. As of September 30, 2025 the total market value of 144A securities is 13,127,907 or 22.4% of net assets.
(b)	Security in default. Non income producing.
(c)	Rate disclosed is the seven day effective yield as of September 30, 2025.

CATALYST SYSTEMATIC ALPHA FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)

September 30, 2025

Shares					Fair Value
		OPEN END FUNDS — 16.9%
		FIXED INCOME - 16.9%
	265,046	Catalyst International Income Opportunities Fund(a)			$	32,869,651
		TOTAL OPEN END FUNDS (Cost $30,000,000)				32,869,651
Principal Amount ($)			Coupon Rate (%)	Maturity
		CONVERTIBLE BONDS — 0.2%
		ASSET MANAGEMENT — 0.1%
	225,000	New Mountain Finance Corporation	7.5000	10/15/25		225,225
		SPECIALTY FINANCE — 0.1%
	225,000	Two Harbors Investment Corporation	6.2500	01/15/26		225,000
		TOTAL CONVERTIBLE BONDS (Cost $424,260)				450,225
		CORPORATE BONDS — 27.8%
		AEROSPACE & DEFENSE — 1.5%
	3,000,000	Boeing Company (The)	3.1000	05/01/26		2,980,509
		AUTOMOTIVE — 1.5%
	3,000,000	Ford Motor Company	4.3460	12/08/26		2,988,528
		BIOTECH & PHARMA — 3.3%
	6,500,000	Gilead Sciences, Inc.	3.6500	03/01/26		6,490,027
		FOOD — 4.1%
	7,960,000	Kraft Heinz Foods Company	3.0000	06/01/26		7,895,985
		HEALTH CARE FACILITIES & SERVICES — 1.6%
	3,000,000	HCA, Inc.	5.2500	06/15/26		3,006,181
		LEISURE FACILITIES & SERVICES — 4.1%
	8,000,000	McDonald’s Corporation Series MTN	3.7000	01/30/26		7,986,203

CATALYST SYSTEMATIC ALPHA FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

September 30, 2025

Principal Amount ($)			Coupon Rate (%)	Maturity	Fair Value
		CORPORATE BONDS — 27.8% (Continued)
		LEISURE PRODUCTS — 0.5%
	1,000,000	Mattel, Inc.(b)	3.3750	04/01/26	$	993,005
		SEMICONDUCTORS — 6.1%
	9,000,000	Intel Corporation	4.8750	02/10/26		9,019,449
	3,000,000	Skyworks Solutions, Inc.	1.8000	06/01/26		2,951,009
						11,970,458
		TECHNOLOGY SERVICES — 5.1%
	10,000,000	International Business Machines Corporation	3.3000	05/15/26		9,957,201
		TOTAL CORPORATE BONDS (Cost $54,117,147)				54,268,097
			Discount Rate (%)
		U.S. GOVERNMENT & AGENCIES — 46.6%
		U.S. TREASURY BILLS — 46.6%
	9,000,000	United States Treasury Bill(c),(d),(f)	2.0038	10/02/25		8,998,998
	20,500,000	United States Treasury Bill(d),(f)	3.6956	02/19/26		20,201,169
	19,000,000	United States Treasury Bill(d),(f)	3.7056	03/19/26		18,667,528
	8,050,000	United States Treasury Bill(c),(d),(f)	3.6081	04/16/26		7,890,252
	24,000,000	United States Treasury Bill(c),(d),(f)	3.5371	07/09/26		23,335,023
	9,300,000	United States Treasury Bill(c),(d),(f)	3.5316	08/06/26		9,017,180
	3,000,000	United States Treasury Bill(c),(d),(f)	3.4648	09/03/26		2,902,407
						91,012,557
		TOTAL U.S. GOVERNMENT & AGENCIES (Cost $90,936,332)				91,012,557
Shares
		SHORT-TERM INVESTMENTS — 10.3%
		MONEY MARKET FUNDS - 10.3%
	20,175,627	First American Treasury Obligations Fund, Class X, 4.02%(c),(e)				20,175,627
		TOTAL SHORT-TERM INVESTMENTS (Cost $20,175,627)				20,175,627

CATALYST SYSTEMATIC ALPHA FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

September 30, 2025

	Fair Value
TOTAL INVESTMENTS - 101.8% (Cost $195,653,366)	$	198,776,157
LIABILITIES IN EXCESS OF OTHER ASSETS - (1.8)%		(3,504,393	)
NET ASSETS - 100.0%	$	195,271,764

(a)	Non-income producing security.
(b)	Security exempt from registration under Rule 144A or Section 4(2) of the Securities Act of 1933. The security may be resold in transactions exempt from registration, normally to qualified institutional buyers. As of September 30, 2025 the total market value of 144A securities is 993,005 or 0.5% of net assets.
(c)	All or a portion of this investment is a holding of the CSACS Fund Limited.
(d)	Zero coupon bond.
(e)	Rate disclosed is the seven day effective yield as of September 30, 2025.
(f)	This security is segregated as Collateral for a Swap Contract.

CATALYST SYSTEMATIC ALPHA FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

September 30, 2025

TOTAL RETURN SWAPS - (1.9)%

The BNP Paribas Catalyst Systematic Alpha Non-Commodities Index (“BCKTSAXE”) is a rules based index designed to capitalize on structural inefficiencies and behavioral biases present within the equity, fixed income, and currency markets. The BCKTSAXE Index is comprised of four rules-based Index components created by BNP Paribas.*

The BNP Paribas Catalyst Systematic Alpha Commodities Index (“BCKTSACE”) is a rules based index designed to capitalize on structural inefficiencies and behavioral biases present within the commodity markets. The BCKTSACE Index is comprised of two rules-based Index components created by BNP Paribas.*

The Barclays BEFSRPPM Index (“BEFSRPPM Strategy”) is a rules-based strategy designed to capitalize on structural inefficiencies and behavioral biases present within the equity, fixed income, and currency markets. The BEFSRPPM Strategy is comprised of thirteen rules-based Index components created by Barclays.**

The CIBC Multi Asset Systematic Alpha Index (“CIBQMASA”) is a rules based index designed to capitalize on structural inefficiencies and behavioral biases present within the equity, fixed income, commodity and currency markets. The CIBQMASA Index is comprised of five rules-based Index components created by CIBC.***

Custom Asset Series X1 Excess Return Strategy (“RCXTCAX1”) is a rules-based index containing strategies across a mix of non-commodity asset classes which look to invest in premias including carry, volatility, trend and relative value. The index has 13 components which comprise the broader index.

Custom Asset Series X2 Excess Return Strategy (“RCXTCAX2”) is a rules-based index containing two commodities strategies (one based on carry and the other on curve RV).

The XRJPCT12 is a cross-assets rules-based index that considers short-term and long-term portfolio dynamics to optimize the weight to ensure diversification and avoid concentration risk. We add a layer of Volatility Targeting to adjust the overall portfolio exposure dynamically to maintain a target volatility of 12%. The index is comprised of seven rules-based index components created by JPMorgan. ****

Shares	Reference Entity	Payment Frequency	Notional Amount	Counterparty	Maturity	Pay Fixed Rate	Upfront Payments	Unrealized Appreciation/ (Depreciation)
30,470	BNP Paribas Catalyst Systematic Alpha Non-Commodities Index *	Maturity	(133,987,149)	BNP Paribas	1/12/2026	0.2000%	—	$	361,484
30,470	BNP Paribas Catalyst Systematic Alpha Commodities Index +*	Monthly	(132,350,979)	BNP Paribas	1/12/2026	0.2000%	—		(4,052,517	)
5,350	CIBC Multi Asset Systematic Alpha Index +***	Monthly	(15,185,127)	CIBC	4/30/2026	0.1000%	—		(183,023	)
16,522	Barclays BEFSRPPM Index**	Maturity	(10,000,000)	Barclays	4/7/2026	0.0000%	—		(593,260	)
179,083	Custom Asset Series X1 Excess Return Strategy	Monthly	(14,529,004)	Goldman Sachs	2/12/2026	1.0690%	—		213,434
179,083	Custom Asset Series X2 Excess Return Strategy +	Monthly	(3,637,176)	Goldman Sachs	2/12/2026	0.7170%	—		61,230
8,197	J.P. Morgan XRJPCT12 Index +****	Quarterly	(19,702,254)	JP Morgan	12/3/2025	0.2800%	—		412,261
								$	(3,780,391	)

+ This instrument is held by CSACS Fund Ltd.

* Additional information can be found on https://marketing-indx.bnpparibas.com/casaindex/index-performance/

** Additional information can be found on https://indices.cib.barclays/IM/12/en/indices/details.app;ticker=BXIIRPPM

*** Additional information can be found on https://indices.cibccm.com/CIBQMASA/

**** Additional information can be found on http://www.jpmorganindices.com/indices/XRJPCT12

CATALYST SYSTEMATIC ALPHA FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

September 30, 2025

Custom Asset Series X1 Excess Return Strategy Total Return SwapTop 50 Holdings

The following table represents the individual positions and related values of underlying securities of the Custom Asset Series X1 Excess Return Strategy Total Return Swap.

Credit Default Swaps

Contracts			Name	Counterparty	Pay/Receive	Interest Rate		Maturity Date	Notional			Fair Value
	(3,591,828	)	CDX.NA.HY.44-V1.5Y	Goldman Sachs	Pay	0.0500		6/20/2030		(3,591,828	)		290,721
	(4,412,977	)	CDX.NA.IG.44-V1.5Y	Goldman Sachs	Pay	0.0100		6/20/2030		(4,412,977	)		101,170
	(8,511,534	)	iTraxx Europe.43-V1.5Y	Goldman Sachs	Pay	0.0100		6/20/2030		(8,511,534	)		226,410
Equity Forwards
	Contracts		Name	Counterparty					Notional			Value and Unrealized Appreciation (Depreciation)
	(816	)	S&P 500 Index	Goldman Sachs						(5,458,176	)		—
	(652	)	S&P 500 Index	Goldman Sachs						(4,361,750	)		—
	481		S&P 500 Index	Goldman Sachs						3,218,895			—
Open Long Futures
	Contracts		Name				Expiration Date		Notional			Value and Unrealized Appreciation (Depreciation)
	42,970		Euro BTPs					12/8/2025		6,050,674			—
	45,813		Euro OATs					12/8/2025		6,532,318			—
	(5,838,725	)	JGB					12/11/2025		(5,368,456	)		—
	4,664,937		JGB					12/11/2025		4,289,209			—
	35,871		Ten-Year Australian Government Bonds					12/15/2025		2,694,799			—
	(94,238	)	Ultra 10yr US Notes					12/19/2025		(10,872,489	)		—
	(28,006	)	US 10-year Treasury Note					12/19/2025		(3,150,709	)		—

Options Purchased
Contracts			Name	Counterparty	Call/Put	Expiration Date	Exercise Price		Notional			Fair Value
	540		S&P 500 Index	Goldman Sachs	Put	11/21/2025		5,600		3,614,119			5,859
Options Written
Contracts			Name	Counterparty	Call/Put	Expiration Date	Exercise Price		Notional			Fair Value
	(4,741,026	)	CDX.NA.IG.44-V1.5Y	Goldman Sachs		10/15/2025		50		(4,741,026	)		(5,584	)
	(3,740,035	)	CDX.NA.IG.44-V1.5Y	Goldman Sachs		10/15/2025		58		(3,740,035	)		(308	)
	(5,704,939	)	CDX.NA.IG.44-V1.5Y	Goldman Sachs		10/15/2025		47.5000		(5,704,939	)		(2,634	)
	(5,704,939	)	CDX.NA.IG.44-V1.5Y	Goldman Sachs		10/15/2025		55.0000		(5,704,939	)		(701	)
	(6,140,274	)	CDX.NA.IG.44-V1.5Y	Goldman Sachs		10/15/2025		52.5000		(6,140,274	)		(1,229	)
	(4,297,658	)	iTraxx Europe.43-V1.5Y	Goldman Sachs		10/15/2025		52.5		(5,049,748	)		(7,007	)
	(5,060,426	)	iTraxx Europe.43-V1.5Y	Goldman Sachs		10/15/2025		50.0000		(5,946,000	)		(3,618	)
	(3,374,491	)	iTraxx Europe.43-V1.5Y	Goldman Sachs		10/15/2025		60		(3,965,027	)		(423	)
	(3,755,515	)	iTraxx Europe.43-V1.5Y	Goldman Sachs		10/15/2025		55		(4,412,731	)		(1,102	)
	(4,712,851	)	iTraxx Europe.43-V1.5Y	Goldman Sachs		10/15/2025		57.5		(5,537,600	)		(878	)
	(714	)	S&P 500 Index	Goldman Sachs	Call	10/03/2025		6,870		(4,775,838	)		(71	)
	(843	)	S&P 500 Index	Goldman Sachs	Call	10/03/2025		6,820		(5,636,599	)		(209	)
	(974	)	S&P 500 Index	Goldman Sachs	Call	10/03/2025		6,780		(6,511,916	)		(1,349	)
	(987	)	S&P 500 Index	Goldman Sachs	Call	10/03/2025		6,910		(6,601,407	)		(89	)
	(1,151	)	S&P 500 Index	Goldman Sachs	Call	10/03/2025		6,880		(7,701,554	)		(114	)
	(1,355	)	S&P 500 Index	Goldman Sachs	Call	10/03/2025		6,775		(9,063,201	)		(2,343	)
	(1,487	)	S&P 500 Index	Goldman Sachs	Call	10/10/2025		6,850		(9,942,729	)		(3,881	)
	(553	)	S&P 500 Index	Goldman Sachs	Call	10/10/2025		6,950		(3,698,439	)		(192	)
	(465	)	S&P 500 Index	Goldman Sachs	Call	10/17/2025		6,915		(3,110,275	)		(1,676	)
	(404	)	S&P 500 Index	Goldman Sachs	Call	10/24/2025	$	6,975		(2,701,762	)		(1,748	)
	(500	)	S&P 500 Index	Goldman Sachs	Put	11/21/2025		5,900		(3,346,809	)		(9,208	)
Interest Rate Swaps
Contracts			Name	Counterparty	Pay/Receive	Interest Rate	Maturity Date		Notional			Fair Value
	3,823,741		10yr Point On US Dollar	Goldman Sachs	Receive	0.0370		10/3/2035		3,823,741			(19,968	)
	3,421,996		10yr Point On US Dollar	Goldman Sachs	Receive	0.0350		10/10/2035		3,421,996			25,231
	3,608,725		10yr Point On US Dollar	Goldman Sachs	Receive	0.0350		10/15/2035		3,608,725			29,634
	(4,177,481	)	10yr Point On US Dollar	Goldman Sachs	Pay	0.0350		10/16/2035		(4,177,481	)		(34,206	)
	4,365,774		10yr Point On US Dollar	Goldman Sachs	Receive	0.0350		10/17/2035		4,365,774			54,078
	(9,223,230	)	10yr Point On US Dollar	Goldman Sachs	Pay	0.0350		10/22/2035		(9,223,230	)		(90,965	)
	3,831,828		10yr Point On US Dollar	Goldman Sachs	Receive	0.0360		10/24/2035		3,831,828			8,717
	(8,410,193	)	10yr Point On US Dollar	Goldman Sachs	Pay	0.0360		10/29/2035		(8,410,193	)		(12,062	)
	(6,741,589	)	10yr Point On US Dollar	Goldman Sachs	Pay	0.0360		10/29/2035		(6,741,589	)		(9,782	)
	(5,291,091	)	10yr Point On US Dollar	Goldman Sachs	Pay	0.0370		10/31/2035		(5,291,091	)		19,155
	3,636,854		10yr Point On US Dollar	Goldman Sachs	Receive	0.0360		11/5/2035		3,636,854			(6,990	)
	4,918,689		20yr Point On US Dollar	Goldman Sachs	Receive	0.0410		10/3/2045		4,918,689			(86,766	)
	(4,702,686	)	20yr Point On US Dollar	Goldman Sachs	Pay	0.0380		10/23/2045		(4,702,686	)		(54,793	)
	(3,015,198	)	20yr Point On US Dollar	Goldman Sachs	Pay	0.0400		10/30/2045		(3,015,198	)		11,304
	3,004,938		30yr Point On US Dollar	Goldman Sachs	Receive	0.0410		10/4/2055		3,004,938			(80,359	)

CATALYST SYSTEMATIC ALPHA FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

September 30, 2025

Custom Asset Series X2 Excess Return Strategy Total Return SwapTop 50 Holdings

Open Long Futures
Contracts			Name	Expiration Date	Notional			Value and Unrealized Appreciation (Depreciation)
	17,854		Brent Crude Oil	01/2026		1,171,567			—
	82,478		Chicago Wheat	03/2026		434,657			—
	126,249		Coffee	03/2026		453,171			—
	328,015		Copper HG	12/2025		1,593,004			—
	307,711		Corn	12/2025		1,278,540			—
	107,124		Corn	03/2026		462,774			—
	106,624		Corn	05/2026		471,011			—
	772		Gasoil	01/2026		513,109			—
	727		Gold	12/2025		2,816,833			—
	330,806		Live Cattle	04/2026		787,815			—
	208,532		Natural Gas	05/2026		733,614			—
	52,420		Soybean	11/2025		525,121			—
	46,493		Soybean	07/2026		493,180			—
	1,169,576		Soybean Oil	05/2026		590,168			—
	15,749		WTI Crude Oil	01/2026		971,372			—
Open Short Futures
Contracts			Name	Expiration Date	Notional			Value and Unrealized Appreciation (Depreciation)
	(301	)	Aluminium	11/2025		(808,137	)		—
	(7,826	)	Brent Crude Oil	12/2025		(516,760	)		—
	(19,036	)	Brent Crude Oil	01/2026		(1,249,166	)		—
	(95,073	)	Chicago Wheat	12/2025		(482,970	)		—
	(171,285	)	Coffee	12/2025		(642,061	)		—
	(233,885	)	Copper HG	12/2025		(1,135,862	)		—
	(224,188	)	Corn	12/2025		(931,503	)		—
	(747	)	Gasoil	11/2025		(513,246	)		—
	(335,298	)	Live Cattle	12/2025		(787,196	)		—
	(468,056	)	Natural Gas	11/2025		(1,545,990	)		—
	(109,221	)	Soybean	11/2025		(1,094,122	)		—
	(2,123	)	Soybean Meal	12/2025		(580,174	)		—
	(1,488,999	)	Soybean Oil	12/2025		(736,905	)		—
	(2,811,863	)	Sugar	03/2026		(466,769	)		—
	(17,287	)	WTI Crude Oil	11/2025		(1,078,162	)		—

Options Purchased
Contracts			Name	Counterparty	Call/Put	Expiration Date	Exercise Price	Notional			Fair Value
	12,957		Brent Crude Oil	Goldman Sachs	Call	10/28/2025	81.00		855,544			1,814
	9,394		Brent Crude Oil	Goldman Sachs	Put	10/28/2025	58.00		620,261			1,973
	9,047		Brent Crude Oil	Goldman Sachs	Put	10/28/2025	59.00		597,377			2,533
	8,483		Brent Crude Oil	Goldman Sachs	Call	10/28/2025	79.00		560,113			1,442
	8,451		Brent Crude Oil	Goldman Sachs	Put	10/28/2025	56.00		558,022			1,183
	8,258		Brent Crude Oil	Goldman Sachs	Call	10/28/2025	78.00		545,282			1,569
	8,011		Brent Crude Oil	Goldman Sachs	Call	10/28/2025	78.50		528,956			1,442
	7,412		Brent Crude Oil	Goldman Sachs	Put	10/28/2025	57.00		489,411			1,260
	6,809		Brent Crude Oil	Goldman Sachs	Put	10/28/2025	55.50		449,587			817
Options Written
Contracts			Name	Counterparty	Call/Put	Expiration Date	Exercise Price	Notional			Fair Value
	(7,314	)	Brent Crude Oil	Goldman Sachs	Put	10/28/2025	65.75		(482,910	)		(13,676	)
	(8,002	)	Brent Crude Oil	Goldman Sachs	Put	10/28/2025	67.25		(528,350	)		(21,604	)
	(111,150	)	Corn	Goldman Sachs	Call	10/24/2025	4.55		(461,827	)		(417	)
	(115,360	)	Corn	Goldman Sachs	Call	10/24/2025	4.40		(479,322	)		(1,009	)
	(158,618	)	Corn	Goldman Sachs	Call	10/24/2025	4.45		(659,059	)		(991	)
	(174,826	)	Corn	Goldman Sachs	Call	10/24/2025	4.35		(726,401	)		(2,185	)
	(174,943	)	Corn	Goldman Sachs	Call	10/24/2025	4.30		(726,889	)		(3,280	)
	(55,331	)	Soybean	Goldman Sachs	Call	10/24/2025	10.80		(554,275	)		(346	)
	(56,372	)	Soybean	Goldman Sachs	Call	10/24/2025	10.60		(564,710	)		(634	)
	(57,050	)	Soybean	Goldman Sachs	Call	10/24/2025	10.70		(571,503	)		(428	)
	(66,930	)	Soybean	Goldman Sachs	Call	10/24/2025	10.50		(670,469	)		(1,088	)

CATALYST SYSTEMATIC ALPHA FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

September 30, 2025

J.P. Morgan XRJPCT12 Index Total Return Swap Holdings

Shares		Name	Fair Value
	19.63	J.P. Morgan Locator Curve Carry Index (JMABLCCU)		4,635
	9.35	J.P. Morgan FX Neo Carry Index (JMFXTNCL)		1,854
	1.53	J.P. Morgan Cross Asset Trend Following Index (AIJPLT2U)		1,085
	19.99	J.P.Morgan ERP Global Trend 4 Factor Multi-Factor (L/S) USD Index (Series 1)(JPQTR4W1)		2,059
	3.26	J.P. Morgan Helix 3 Index (JHLXH3US)		1,159
	10.76	J.P. Morgan Intraday Bespoke Index (JPOSIOB5)		1,141
	5.67	J.P. Morgan U.S. Technology Momentum QES Long Short Bespoke Index (JPUSNQIM)		1,129

CATALYST/ASPECT ENHANCED MULTI-ASSET FUND

SCHEDULE OF INVESTMENTS (Unaudited)

September 30, 2025

Shares			Fair Value
		EXCHANGE-TRADED FUNDS — 38.7%
		FIXED INCOME - 38.7%
	121,939	iShares Core U.S. Aggregate Bond ETF	$	12,224,384
		TOTAL EXCHANGE-TRADED FUNDS (Cost $11,971,140)		12,224,384
		SHORT-TERM INVESTMENTS — 40.6%
		MONEY MARKET FUNDS - 40.6%
	12,808,216	First American Treasury Obligations Fund, Class X, 4.02%(a),(c)		12,808,216
		TOTAL SHORT-TERM INVESTMENTS (Cost $12,808,216)		12,808,216
		TOTAL INVESTMENTS - 79.3% (Cost $24,779,356)	$	25,032,600
		OTHER ASSETS IN EXCESS OF LIABILITIES - 20.7%		6,524,992
		NET ASSETS - 100.0%	$	31,557,592

OPEN FUTURES CONTRACTS
Number of Contracts	Open Long Futures Contracts	Expiration	Notional Amount(b)		Value and Unrealized Appreciation (Depreciation)
1	3 Month Euro Euribor Future	03/16/2027	$	287,377	$	(234	)
1	3 Month Euro Euribor Future	06/15/2027		287,201		(351	)
1	3 Month Euro Euribor Future	09/14/2027		287,025		(190	)
1	3 Month Euro Euribor Future	12/14/2027		286,848		(366	)
10	3-Month CORRA Futures	06/17/2026		1,756,531		710
18	3-Month CORRA Futures	09/16/2026		3,161,917		5,224
14	3-Month CORRA Futures	12/16/2026		2,458,389		3,883
10	3-Month CORRA Futures	03/17/2027		1,755,004		2,605
5	3-Month CORRA Futures	06/16/2027		877,053		918
3	3-Month CORRA Futures	09/15/2027		525,989		490
2	Carbon Emissions Future(c)	12/16/2025		177,788		(2,787	)
15	CBOT 10 Year US Treasury Note Future	12/22/2025		1,687,500		(8,438	)
1	CBOT 2 Year US Treasury Note Future	01/01/2026		208,398		(477	)
12	CBOT 5 Year US Treasury Note Future	01/02/2026		1,310,344		(5,992	)
2	CBOT US Treasury Bond Futures	12/22/2025		233,188		(2,312	)
1	CME British Pound Currency Future	12/16/2025		84,069		(565	)
1	CME E-Mini NASDAQ 100 Index Future	12/22/2025		498,035		10,909
3	CME E-mini Russell 2000 Index Futures	12/22/2025		368,325		5,900
58	CME E-Mini Standard & Poor’s 500 Index Future	12/22/2025		19,542,375		268,612
1	CME E-Mini Standard & Poor’s MidCap 400 Index Future	12/22/2025		328,620		(2,255	)

CATALYST/ASPECT ENHANCED MULTI-ASSET FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

September 30, 2025

OPEN FUTURES CONTRACTS (Continued)
Number of Contracts	Open Long Futures Contracts	Expiration	Notional Amount(b)		Value and Unrealized Appreciation (Depreciation)
3	CME Feeder Cattle Future(c)	11/21/2025	$	539,025	$	(950	)
2	CME Feeder Cattle Future(c)	01/30/2026		353,050		5,975
5	CME Lean Hogs Future(c)	12/15/2025		177,450		1,550
12	CME Lean Hogs Future(c)	02/17/2026		433,440		140
7	CME Live Cattle Future(c)	01/01/2026		657,370		(17,750	)
6	CME Live Cattle Future(c)	03/02/2026		569,220		(6,240	)
6	CME Live Cattle Future(c)	05/01/2026		571,560		9,280
1	CME Nikkei 225 Index Future	12/12/2025		224,700		10,750
1	COMEX Copper Future(c)	12/30/2025		121,413		4,650
6	COMEX Gold 100 Troy Ounces Future(c)	12/30/2025		2,323,920		215,330
4	COMEX Silver Future(c)	12/30/2025		932,800		129,705
2	E-mini Dow Jones Industrial Average Index Futures	12/22/2025		466,890		4,930
1	Eurex DAX Index Future	12/22/2025		704,714		4,665
8	Eurex EURO STOXX 50 Future	12/22/2025		520,404		7,733
5	Euro-BTP Italian Bond Futures	12/09/2025		703,452		1,626
5	Euronext CAC 40 Index Future	10/20/2025		463,430		4,413
13	EUX Short term Euro-BTP Futures	12/09/2025		1,647,282		(1,172	)
8	FTSE 100 Index Future	12/22/2025		1,012,171		8,292
2	FTSE/MIB Index Future	12/22/2025		498,873		(2,908	)
1	Future on STOXX Europe 600 ESG-X	12/22/2025		23,949		(1	)
14	HKG Hang Seng China Enterprises Index Future	10/31/2025		861,388		19,445
5	HKG Hang Seng Index Future	10/31/2025		864,575		23,187
1	ICE Gas Oil Future(c)	11/13/2025		68,700		550
1	ICE Gas Oil Future(c)	12/12/2025		67,350		(1,675	)
4	ICE US mini MSCI EAFE Index Futures	12/22/2025		557,060		1,515
11	ICE US MSCI Emerging Markets EM Index Futures	12/22/2025		747,835		12,705
1	LME Copper Future(c)	12/16/2025		256,785		(993	)
2	LME Primary Aluminum Future(c)	12/16/2025		134,045		(863	)
1	LME Zinc Future(c)	12/16/2025		74,229		(547	)
1	MDE Crude Palm Oil Future(c)	12/16/2025		25,854		(667	)
12	Montreal Exchange 10 Year Canadian Bond Future	12/19/2025		1,056,107		1,100
37	Montreal Exchange 2 Year Canadian Bond Future	12/19/2025		2,815,186		4,411
22	Montreal Exchange 5 Year Canadian Bond Future	12/19/2025		1,823,307		2,346
3	Montreal Exchange S&P/TSX 60 Index Future	12/19/2025		764,440		18,085
1	NYBOT CSC C Coffee Future(c)	12/19/2025		140,569		11,175
1	NYMEX NY Harbor ULSD Futures(c)	11/03/2025		97,612		(937	)
1	NYMEX Palladium Future(c)	12/30/2025		128,740		(2,810	)
6	NYMEX Platinum Future(c)	01/29/2026		481,710		37,150
1	NYMEX Reformulated Gasoline Blendstock for Oxygen Future(c)	11/03/2025		80,737		(751	)
12	OML Stockholm OMXS30 Index Future	10/20/2025		339,683		1,807
1	OSE Platinum Future(c)	08/27/2026		25,226		2,834
6	SAFEX FTSE/JSE Top 40 Index Future	12/19/2025		354,928		14,164
4	SFE 10 Year Australian Bond Future	12/16/2025		299,971		(1,499	)
1	SFE 3 Year Australian Bond Future	12/16/2025		70,685		(271	)
4	SFE 90 Day Australian Bank Accepted Bills Future	06/12/2026		2,624,569		(957	)
4	SFE 90 Day Australian Bank Accepted Bills Future	09/11/2026		2,624,440		(1,338	)
2	SFE 90 Day Australian Bank Accepted Bills Future	12/11/2026		1,312,156		(605	)
2	SFE 90 Day Australian Bank Accepted Bills Future	03/12/2027		1,312,028		(636	)

CATALYST/ASPECT ENHANCED MULTI-ASSET FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

September 30, 2025

OPEN FUTURES CONTRACTS (Continued)
Number of Contracts	Open Long Futures Contracts	Expiration	Notional Amount(b)		Value and Unrealized Appreciation (Depreciation)
1	SFE 90 Day Australian Bank Accepted Bills Future	06/11/2027	$	655,966	$	(349	)
3	SFE S&P ASX Share Price Index 200 Future	12/19/2025		440,275		(617	)
24	SGX Asiaclear TSI Iron Ore CFR China 62% FE Fines Future(c)	12/01/2025		248,591		516
88	SGX FTSE China A50 Futures Contract	10/31/2025		1,330,120		3,223
4	SGX FTSE Taiwan Index Futures	10/31/2025		342,120		(3,020	)
4	SGX MSCI Singapore Index Future	10/31/2025		138,725		(258	)
2	SGX Nikkei 225 Stock Index Future	12/12/2025		303,687		10,605
7	TEF SET50 Index Future	12/30/2025		35,216		(738	)
2	Three Month SONIA Index Futures	06/16/2027		648,107		(620	)
3	Three Month SONIA Index Futures	09/15/2027		971,858		(989	)
2	Three Month SONIA Index Futures	12/15/2027		647,670		(687	)
1	Three Month SONIA Index Futures	03/15/2028		323,734		(284	)
2	Three-Month SOFR Futures	03/17/2027		484,525		(1,000	)
4	Three-Month SOFR Futures	06/16/2027		969,150		(1,763	)
6	Three-Month SOFR Futures	09/15/2027		1,453,500		(2,513	)
7	Three-Month SOFR Futures	12/15/2027		1,695,138		(2,412	)
8	Three-Month SOFR Futures	03/15/2028		1,936,400		(2,213	)
7	Three-Month SOFR Futures	06/21/2028		1,693,475		(2,238	)
3	TSE TOPIX (Tokyo Price Index) Future	12/12/2025		637,266		5,725
9	TurkDEX ISE 30 Futures	11/03/2025		27,048		(1,247	)
	TOTAL LONG FUTURES CONTRACTS				$	790,348
Number of Contracts	Open Short Futures Contracts	Expiration	Notional Amount(b)		Value and Unrealized Appreciation (Depreciation)
11	3 Month Euro Euribor Future	03/16/2026	$	3,164,211	$	2,094
3	3 Month Euro Euribor Future	06/15/2026		863,143		102
2	3 Month Euro Euribor Future	09/14/2026		575,340		15
1	CBOT Corn Future(c)	03/16/2026		21,600		525
4	CBOT Corn Future(c)	12/15/2025		83,100		(1,612	)
2	CBOT Soybean Future(c)	11/17/2025		100,175		663
27	CBOT Soybean Meal Future(c)	12/15/2025		737,910		23,240
8	CBOT Wheat Future(c)	03/16/2026		210,800		4,513
11	CBOT Wheat Future(c)	12/15/2025		279,400		9,625
1	CME Canadian Dollar Currency Future	12/17/2025		72,100		(20	)
1	CME Japanese Yen Currency Future	12/16/2025		85,175		(382	)
1	CME New Zealand Dollar Currency Future	12/16/2025		58,145		(45	)
1	Cocoa Future(c)	12/12/2025		63,614		2,551
6	Eurex 10 Year Euro BUND Future	12/09/2025		905,635		(2,211	)
20	Eurex 2 Year Euro SCHATZ Future	12/09/2025		2,511,857		68
5	Eurex 30 Year Euro BUXL Future	12/09/2025		671,989		(9,897	)
5	Eurex 5 Year Euro BOBL Future	12/09/2025		691,536		(812	)
31	Euronext Milling Wheat Future(c)	12/11/2025		338,915		16,846
1	Euronext Rapeseed Future(c)	02/02/2026		27,295		322
1	French Government Bond Futures	12/09/2025		142,463		(281	)
6	IFSC NIFTY 50 Index Futures	10/29/2025		297,138		3,152

CATALYST/ASPECT ENHANCED MULTI-ASSET FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

September 30, 2025

OPEN FUTURES CONTRACTS (Continued)
Number of Contracts	Open Short Futures Contracts	Expiration	Notional Amount(b)		Value and Unrealized Appreciation (Depreciation)
17	KCBT Hard Red Winter Wheat Future(c)	12/15/2025	$	423,087	$	26,788
1	LME Lead Future(c)	12/16/2025		49,549		97
2	LME Nickel Future(c)	12/16/2025		182,525		(1,865	)
14	Long Gilt Future	12/30/2025		1,710,389		(5,192	)
5	MGE Red Wheat Future(c)	12/15/2025		140,688		4,412
21	NYBOT CSC Number 11 World Sugar Future(c)	03/02/2026		390,432		(3,203	)
15	NYBOT CSC Number 11 World Sugar Future(c)	05/01/2026		271,152		(1,870	)
6	NYBOT CTN Number 2 Cotton Future(c)	12/09/2025		197,310		3,485
5	NYMEX Henry Hub Natural Gas Futures(c)	10/30/2025		165,150		(340	)
3	NYMEX Henry Hub Natural Gas Futures(c)	11/26/2025		116,400		(1,440	)
1	SAFEX White Maize Future(c)	12/23/2025		21,223		590
9	SFE 90 Day Australian Bank Accepted Bills Future	12/12/2025		5,903,259		1,608
7	SFE 90 Day Australian Bank Accepted Bills Future	03/13/2026		4,592,547		701
15	Three Month SONIA Index Futures	06/16/2026		4,854,247		1,372
3	Three Month SONIA Index Futures	09/15/2026		971,707		115
2	Three Month SONIA Index Futures	12/15/2026		648,107		(101	)
1	Three Month SONIA Index Futures	03/17/2027		324,104		(50	)
4	Three-Month SOFR Futures	06/16/2026		965,050		(175	)
4	Three-Month SOFR Futures	09/15/2026		967,150		(62	)
4	TSE Japanese 10 Year Bond Futures	12/16/2025		3,673,327		17,700
5	TTF Natural Gas Base Load Monthly Futures(c)	10/31/2025		132,754		4,567
1	WCE Canola Future(c)	01/15/2026		8,886		224
1	White Sugar Future(c)	11/17/2025		23,415		(450	)
	TOTAL SHORT FUTURES CONTRACTS				$	95,367
	TOTAL FUTURES CONTRACTS				$	885,715

OPEN FORWARD FOREIGN CURRENCY CONTRACTS
							Unrealized
Foreign Currency	Settlement Date	Counterparty	Local Currency		U.S. Dollar Value		Appreciation/ (Depreciation)
To Buy:
Brazilian Real	10/02/2025	Deutsche Bank		9,282,823	$	1,744,139	$	44,138
Australian Dollar	10/15/2025	Deutsche Bank		800,000		529,396		(2,103	)
British Pound	10/15/2025	Deutsche Bank		1,200,000		1,614,021		(9,866	)
Canadian Dollar	10/15/2025	Deutsche Bank		2,357,962		1,695,953		(4,048	)
Euro	10/15/2025	Deutsche Bank		1,150,000		1,351,392		(2,300	)
Israeli Shekel	10/15/2025	Deutsche Bank		2,990,269		902,750		2,749
Japanese Yen	10/15/2025	Deutsche Bank		169,814,698		1,150,436		436
Mexican Peso	10/15/2025	Deutsche Bank		43,991,856		2,397,644		47,642

CATALYST/ASPECT ENHANCED MULTI-ASSET FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

September 30, 2025

OPEN FORWARD FOREIGN CURRENCY CONTRACTS (Continued)
							Unrealized
Foreign Currency	Settlement Date	Counterparty	Local Currency		U.S. Dollar Value		Appreciation/ (Depreciation)
To Buy: (continued)
New Zealand Dollar	10/15/2025	Deutsche Bank		1,600,000	$	928,217	$	(8,526	)
Singapore Dollar	10/15/2025	Deutsche Bank		256,639		199,212		(788	)
South African Rand	10/15/2025	Deutsche Bank		17,568,243		1,016,192		16,192
Swiss Franc	10/15/2025	Deutsche Bank		552,971		696,041		(3,959	)
Thailand Baht	10/15/2025	Deutsche Bank		14,252,338		439,781		(10,219	)
Chinese Yuan Offshore	10/15/2025	Deutsche Bank		5,688,774		798,967		(1,033	)
Brazilian Real	11/04/2025	Deutsche Bank		7,501,435		1,397,401		(2,607	)
Australian Dollar	11/19/2025	Deutsche Bank		300,000		198,611		456
British Pound	11/19/2025	Deutsche Bank		750,000		1,008,840		124
Euro	11/19/2025	Deutsche Bank		850,000		1,000,892		327
Israeli Shekel	11/19/2025	Deutsche Bank		2,145,187		647,701		(2,299	)
Mexican Peso	11/19/2025	Deutsche Bank		35,029,426		1,901,947		1,946
South African Rand	11/19/2025	Deutsche Bank		17,356,865		1,001,457		1,456
Swiss Franc	11/19/2025	Deutsche Bank		277,435		350,660		660
Thailand Baht	11/19/2025	Deutsche Bank		4,839,110		149,605		(395	)
Chilean Peso	12/17/2025	Deutsche Bank		286,358,472		297,829		(2,171	)
Columbian Peso	12/17/2025	Deutsche Bank		2,596,341,998		654,519		4,516
Indian Rupee	12/17/2025	Deutsche Bank		13,263,734		148,577		(1,423	)
Indonesia Rupiah	12/17/2025	Deutsche Bank		822,745,979		49,171		(829	)
Peruvian Sole	12/17/2025	Deutsche Bank		1,412,432		406,091		6,091
Philippine Peso	12/17/2025	Deutsche Bank		2,843,360		48,615		(1,385	)
South Korean Won	12/17/2025	Deutsche Bank		137,702,348		98,443		(1,557	)
Taiwanese Dollar	12/17/2025	Deutsche Bank		4,483,510		148,062		(1,938	)
					$	24,972,562	$	69,287
To Sell:
Brazilian Real	10/02/2025	Deutsche Bank		9,282,825	$	1,744,139	$	(3,901	)
Australian Dollar	10/15/2025	Deutsche Bank		800,000		529,396		(2,838	)
British Pound	10/15/2025	Deutsche Bank		1,200,000		1,614,016		(800	)
Canadian Dollar	10/15/2025	Deutsche Bank		2,353,214		1,692,536		7,464
Chinese Yuan Offshore	10/15/2025	Deutsche Bank		5,693,599		799,641		359
Euro	10/15/2025	Deutsche Bank		1,150,000		1,351,393		(1,376	)
Israeli Shekel	10/15/2025	Deutsche Bank		2,984,180		900,911		(911	)
Japanese Yen	10/15/2025	Deutsche Bank		170,075,381		1,152,203		(2,203	)
Mexican Peso	10/15/2025	Deutsche Bank		43,240,983		2,356,722		(6,721	)
New Zealand Dollar	10/15/2025	Deutsche Bank		1,600,000		928,207		8,943
Singapore Dollar	10/15/2025	Deutsche Bank		257,787		200,103		(103	)
South African Rand	10/15/2025	Deutsche Bank		17,313,614		1,001,465		(1,465	)
Swiss Franc	10/15/2025	Deutsche Bank		557,145		701,295		(1,295	)
Thailand Baht	10/15/2025	Deutsche Bank		14,492,886		447,204		2,796
Canadian Dollar	11/19/2025	Deutsche Bank		1,943,635		1,400,225		(225	)
Chinese Yuan Offshore	11/19/2025	Deutsche Bank		2,487,773		350,272		(272	)
Japanese Yen	11/19/2025	Deutsche Bank		139,999,425		951,791		(1,791	)
New Zealand Dollar	11/19/2025	Deutsche Bank		1,100,000		639,009		(145	)
Singapore Dollar	11/19/2025	Deutsche Bank		128,520		100,023		(23	)
Swiss Franc	11/19/2025	Deutsche Bank		39,629		50,088		(88	)
Chilean Peso	12/17/2025	Deutsche Bank		384,674,162		400,081		(82	)
Indian Rupee	12/17/2025	Deutsche Bank		97,682,454		1,094,210		5,790
Indonesia Rupiah	12/17/2025	Deutsche Bank		4,987,773,851		298,090		1,910

CATALYST/ASPECT ENHANCED MULTI-ASSET FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

September 30, 2025

OPEN FORWARD FOREIGN CURRENCY CONTRACTS (Continued)
							Unrealized
Foreign Currency	Settlement Date	Counterparty	Local Currency		U.S. Dollar Value		Appreciation/ (Depreciation)
To Sell: (continued)
Peruvian Sole	12/17/2025	Deutsche Bank		174,645	$	50,213	$	(213	)
Philippine Peso	12/17/2025	Deutsche Bank		2,915,374		49,846		154
South Korean Won	12/17/2025	Deutsche Bank		555,846,472		397,373		2,626
Taiwanese Dollar	12/17/2025	Deutsche Bank		15,098,977		498,621		1,379
					$	21,699,073	$	6,969
Total							$	76,256

OPEN FORWARD FOREIGN CURRENCY CONTRACTS (Continued)
Foreign Currency		Settlement Date	Counterparty	Local Currency Amount Purchased Sell		Local Currency Amount Purchased Sell		U.S. Dollar Market Value Buy		U.S. Dollar Market Value Sell			Unrealized Appreciation/ (Depreciation)
To Buy:	To Sell:
British Pound	Euro	10/15/2025	Deutsche Bank		1,178,755		1,350,000		1,585,447		(1,586,422	)	$	(975	)
Czech Koruna	Euro	10/15/2025	Deutsche Bank		14,658,236		600,000		707,278		(705,075	)		2,203
Euro	British Pound	10/15/2025	Deutsche Bank		1,350,000		1,177,191		1,586,415		(1,583,337	)		3,078
Euro	Czech Koruna	10/15/2025	Deutsche Bank		600,000		14,593,720		705,075		(704,164	)		911
Euro	Hungarian Forints	10/15/2025	Deutsche Bank		1,600,000		626,410,055		1,880,201		(1,883,830	)		(3,629	)
Euro	Japanese Yen	10/15/2025	Deutsche Bank		3,900,000		674,705,580		4,582,990		(4,570,901	)		12,089
Euro	Norwegian Krone	10/15/2025	Deutsche Bank		1,500,000		17,604,746		1,762,687		(1,764,042	)		(1,355	)
Euro	Polish Zloty	10/15/2025	Deutsche Bank		1,200,000		5,125,427		1,410,149		(1,409,793	)		356
Euro	Swedish Krona	10/15/2025	Deutsche Bank		1,200,000		13,267,698		1,410,149		(1,410,735	)		(586	)
Euro	Swiss Franc	10/15/2025	Deutsche Bank		1,000,000		932,293		1,175,124		(1,173,508	)		1,616
Hungarian Forints	Euro	10/15/2025	Deutsche Bank		632,175,867		1,600,000		1,901,168		(1,880,202	)		20,966
Japanese Yen	Euro	10/15/2025	Deutsche Bank		677,354,706		3,900,000		4,588,845		(4,582,989	)		5,856
Norwegian Krone	Euro	10/15/2025	Deutsche Bank		17,561,143		1,500,000		1,759,674		(1,762,687	)		(3,013	)
Polish Zloty	Euro	10/15/2025	Deutsche Bank		5,115,901		1,200,000		1,407,171		(1,410,150	)		(2,979	)
Swedish Krona	Euro	10/15/2025	Deutsche Bank		13,172,883		1,200,000		1,400,654		(1,410,149	)		(9,495	)
Swiss Franc	Euro	10/15/2025	Deutsche Bank		933,746		1,000,000		1,175,333		(1,175,125	)		208
Czech Koruna	Euro	11/19/2025	Deutsche Bank		13,395,731		550,000		646,825		(647,637	)		(812	)
Euro	British Pound	11/19/2025	Deutsche Bank		1,250,000		1,094,152		1,471,902		(1,471,769	)		133
Euro	Japanese Yen	11/19/2025	Deutsche Bank		3,350,000		581,433,034		3,944,696		(3,952,893	)		(8,197	)
Euro	Swiss Franc	11/19/2025	Deutsche Bank		700,000		652,990		824,265		(825,339	)		(1,074	)
Hungarian Forints	Euro	11/19/2025	Deutsche Bank		491,356,534		1,250,000		1,474,414		(1,471,902	)		2,512

CATALYST/ASPECT ENHANCED MULTI-ASSET FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

September 30, 2025

OPEN FORWARD FOREIGN CURRENCY CONTRACTS (Continued)
Foreign Currency		Settlement Date	Counterparty	Local Currency Amount Purchased Sell		Local Currency Amount Purchased Sell		U.S. Dollar Market Value Buy		U.S. Dollar Market Value Sell			Unrealized Appreciation/ (Depreciation)
To Buy: (continued)	To Sell: (continued)
Norwegian Krone	Euro	11/19/2025	Deutsche Bank		13,536,742		1,150,000		1,356,590		(1,354,150	)	$	2,440
Polish Zloty	Euro	11/19/2025	Deutsche Bank		3,641,476		850,000		1,001,095		(1,000,894	)		201
Swedish Krona	Euro	11/19/2025	Deutsche Bank		8,852,186		800,000		943,303		(942,018	)		1,285
								$	40,701,450	$	40,679,711		$	21,739
Total													$	21,739

(a)	Rate disclosed is the seven day effective yield as of September 30, 2025.
(b)	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.
(c)	All or a portion of this investment is a holding of the CAEMAF Fund Limited.

CATALYST ENERGY INFRASTRUCTURE FUND

SCHEDULE OF INVESTMENTS (Unaudited)

September 30, 2025

Shares			Fair Value
		COMMON STOCKS — 99.8%
		OIL & GAS PRODUCERS - 99.8%
	159,281	Cheniere Energy, Inc.	$	37,427,848
	167,910	DT Midstream, Inc.		18,983,905
	366,049	Enbridge, Inc.		18,470,833
	2,156,405	Energy Transfer, L.P.		37,003,910
	564,894	Enterprise Products Partners, L.P.		17,664,235
	201,361	Hess Midstream, L.P., Class A		6,957,023
	662,578	Kinder Morgan, Inc.		18,757,583
	426,663	Kinetik Holdings, Inc.		18,235,577
	362,219	MPLX, L.P.		18,092,839
	4,642,512	NextDecade Corporation(a)		31,522,656
	243,414	ONEOK, Inc.		17,761,920
	445,057	Pembina Pipeline Corporation		18,007,006
	938,873	Plains GP Holdings, L.P., Class A		17,125,044
	203,969	South Bow Corporation		5,770,283
	211,971	Targa Resources Corporation		35,513,621
	346,288	TC Energy Corporation		18,841,530
	1,875,673	Venture Global, Inc.		26,615,800
	464,840	Western Midstream Partners, L.P.		18,263,564
	304,251	Williams Companies, Inc. (The)		19,274,301
				400,289,478
		TOTAL COMMON STOCKS (Cost $291,026,353)		400,289,478
		TOTAL INVESTMENTS - 99.8% (Cost $291,026,353)	$	400,289,478
		OTHER ASSETS IN EXCESS OF LIABILITIES - 0.2%		603,658
		NET ASSETS - 100.0%	$	400,893,136

LP  - Limited Partnership

^(a) Non-income producing security.

CATALYST/WELTON ADVANTAGE MULTI-STRATEGY FUND

SCHEDULE OF INVESTMENTS (Unaudited)

September 30, 2025

Shares			Fair Value
		COMMON STOCKS — 65.6%
		AEROSPACE & DEFENSE - 1.5%
	869	Boeing Company (The)(a)	$	187,556
	434	General Dynamics Corporation		147,994
	434	Howmet Aerospace, Inc.		85,164
	434	L3Harris Technologies, Inc.		132,548
	869	RTX Corporation		145,410
	869	Textron, Inc.		73,422
				772,094
		ASSET MANAGEMENT - 0.4%
	434	Apollo Global Management, Inc.		57,839
	434	Blackstone, Inc.		74,149
	869	Charles Schwab Corporation (The)		82,964
				214,952
		AUTOMOTIVE - 2.0%
	13,035	Ford Motor Company		155,899
	1,738	General Motors Company		105,966
	1,738	Tesla, Inc.(a)		772,923
				1,034,788
		BANKING - 4.3%
	10,428	Bank of America Corporation		537,981
	869	Citigroup, Inc.		88,204
	1,738	Fifth Third Bancorp		77,428
	2,607	Huntington Bancshares, Inc.		45,023
	2,172	JPMorgan Chase & Company		685,113
	434	M&T Bank Corporation		85,767
	869	PNC Financial Services Group, Inc. (The)		174,608
	1,738	Regions Financial Corporation		45,831
	1,738	Truist Financial Corporation		79,461
	2,172	US Bancorp		104,973
	3,041	Wells Fargo & Company		254,897
				2,179,286
		BEVERAGES - 0.3%
	2,607	Coca-Cola Company (The)		172,896

CATALYST/WELTON ADVANTAGE MULTI-STRATEGY FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

September 30, 2025

Shares			Fair Value
		COMMON STOCKS — 65.6% (Continued)
		CHEMICALS - 0.7%
	1,303	DuPont de Nemours, Inc.	$	101,504
	434	Ecolab, Inc.		118,855
	434	Sherwin-Williams Company (The)		150,277
				370,636
		COMMERCIAL SUPPORT SERVICES - 0.9%
	869	Cintas Corporation		178,371
	869	Republic Services, Inc.		199,418
	434	Waste Management, Inc.		95,840
				473,629
		CONSTRUCTION MATERIALS - 0.3%
	434	Vulcan Materials Company		133,507
		CONTAINERS & PACKAGING - 0.2%
	434	Packaging Corporation of America		94,582
		DATA CENTER REIT - 0.3%
	869	Digital Realty Trust, Inc.		150,233
		DIVERSIFIED INDUSTRIALS - 1.7%
	869	3M Company		134,851
	869	Emerson Electric Company		113,995
	434	General Electric Company		130,556
	1,303	Honeywell International, Inc.		274,283
	869	Illinois Tool Works, Inc.		226,600
				880,285
		E-COMMERCE DISCRETIONARY - 0.2%
	869	eBay, Inc.		79,036
		ELECTRIC UTILITIES - 4.2%
	869	Ameren Corporation		90,706
	869	American Electric Power Company, Inc.		97,763
	1,303	CMS Energy Corporation		95,458
	869	Consolidated Edison, Inc.		87,352
	2,172	Dominion Energy, Inc.		132,861

CATALYST/WELTON ADVANTAGE MULTI-STRATEGY FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

September 30, 2025

Shares			Fair Value
		COMMON STOCKS — 65.6% (Continued)
		ELECTRIC UTILITIES - 4.2% (Continued)
	1,303	Duke Energy Corporation	$	161,246
	869	Entergy Corporation		80,982
	1,303	Eversource Energy		92,695
	2,172	Exelon Corporation		97,762
	1,738	FirstEnergy Corporation		79,635
	5,214	NextEra Energy, Inc.		393,605
	2,172	PPL Corporation		80,712
	1,738	Public Service Enterprise Group, Inc.		145,053
	1,738	Sempra		156,385
	1,738	Southern Company (The)		164,710
	869	WEC Energy Group, Inc.		99,579
	1,303	Xcel Energy, Inc.		105,087
				2,161,591
		ELECTRICAL EQUIPMENT - 1.5%
	434	AMETEK, Inc.		81,592
	869	Amphenol Corporation, Class A		107,539
	434	Hubbell, Inc.		186,754
	434	Keysight Technologies, Inc.(a)		75,915
	434	Rockwell Automation, Inc.		151,696
	434	Trane Technologies PLC		183,131
				786,627
		ENGINEERING & CONSTRUCTION - 0.1%
	434	Jacobs Solutions, Inc.		65,039
		FOOD - 0.2%
	1,738	Mondelez International, Inc., Class A		108,573
		HEALTH CARE REIT - 0.8%
	7,386	Healthpeak Properties, Inc.		141,442
	1,738	Ventas, Inc.		121,643
	869	Welltower, Inc.		154,803
				417,888
		HOME CONSTRUCTION - 0.3%
	434	DR Horton, Inc.		73,550

CATALYST/WELTON ADVANTAGE MULTI-STRATEGY FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

September 30, 2025

Shares			Fair Value
		COMMON STOCKS — 65.6% (Continued)
		HOME CONSTRUCTION - 0.3% (Continued)
	434	PulteGroup, Inc.	$	57,344
				130,894
		HOTEL REIT - 0.2%
	6,083	Host Hotels & Resorts, Inc.		103,533
		INDUSTRIAL REIT - 0.8%
	3,476	Prologis, Inc.		398,072
		INDUSTRIAL SUPPORT SERVICES - 0.2%
	2,172	Fastenal Company		106,515
		INSTITUTIONAL FINANCIAL SERVICES - 0.5%
	434	Bank of New York Mellon Corporation (The)		47,289
	434	Intercontinental Exchange, Inc.		73,120
	869	Nasdaq, Inc.		76,863
	434	State Street Corporation		50,348
				247,620
		INSURANCE - 3.0%
	869	Aflac, Inc.		97,067
	434	Allstate Corporation (The)		93,158
	869	American International Group, Inc.		68,251
	434	Aon PLC, Class A		154,756
	434	Arthur J. Gallagher & Company		134,427
	434	Brown & Brown, Inc.		40,705
	434	Cincinnati Financial Corporation		68,615
	434	Marsh & McLennan Companies, Inc.		87,464
	1,738	MetLife, Inc.		143,159
	869	Principal Financial Group, Inc.		72,049
	1,303	Progressive Corporation (The)		321,777
	869	Prudential Financial, Inc.		90,150
	434	Travelers Companies, Inc. (The)		121,181
	434	W R Berkley Corporation		33,253
				1,526,012

CATALYST/WELTON ADVANTAGE MULTI-STRATEGY FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

September 30, 2025

Shares			Fair Value
		COMMON STOCKS — 65.6% (Continued)
		INTERNET MEDIA & SERVICES - 2.7%
	3,041	Alphabet, Inc., Class A	$	739,267
	869	Meta Platforms, Inc., Class A		638,176
				1,377,443
		LEISURE FACILITIES & SERVICES - 2.1%
	3,041	Carnival Corporation(a)		87,915
	869	Hilton Worldwide Holdings, Inc.		225,453
	869	Marriott International, Inc., Class A		226,322
	869	McDonald’s Corporation		264,081
	434	Royal Caribbean Cruises Ltd.		140,434
	869	Yum! Brands, Inc.		132,088
				1,076,293
		MACHINERY - 1.1%
	434	Caterpillar, Inc.		207,082
	434	Deere & Company		198,451
	869	Xylem, Inc.		128,178
				533,711
		MEDICAL EQUIPMENT & DEVICES - 1.6%
	3,041	Boston Scientific Corporation(a)		296,893
	1,303	Edwards Lifesciences Corporation(a)		101,334
	434	ResMed, Inc.		118,799
	869	Stryker Corporation		321,243
				838,269
		METALS & MINING - 0.1%
	869	Newmont Corporation		73,265
		MULTI ASSET CLASS REIT - 0.2%
	1,303	WP Carey, Inc.		88,044
		OFFICE REIT - 0.2%
	1,303	BXP, Inc.		96,865
		OIL & GAS PRODUCERS – 5.0%
	434	Cheniere Energy, Inc.		101,981
	2,607	Chevron Corporation		404,842

CATALYST/WELTON ADVANTAGE MULTI-STRATEGY FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

September 30, 2025

Shares			Fair Value
		COMMON STOCKS — 65.6% (Continued)
		OIL & GAS PRODUCERS – 5.0% (Continued)
	3,476	ConocoPhillips	$	328,796
	434	Diamondback Energy, Inc.		62,105
	6,083	Exxon Mobil Corporation		685,859
	4,779	Kinder Morgan, Inc.		135,293
	869	Marathon Petroleum Corporation		167,491
	2,172	MPLX, L.P.		108,491
	2,172	Occidental Petroleum Corporation		102,627
	1,303	ONEOK, Inc.		95,080
	869	Phillips 66		118,201
	434	Valero Energy Corporation		73,893
	2,172	Williams Companies, Inc. (The)		137,596
				2,522,255
		OIL & GAS SERVICES & EQUIPMENT - 0.2%
	1,738	Baker Hughes Company		84,675
		REAL ESTATE INVESTMENT TRUSTS - 0.5%
	1,303	Iron Mountain, Inc.		132,828
	3,041	VICI Properties, Inc.		99,167
				231,995
		REAL ESTATE SERVICES - 0.1%
	434	CBRE Group, Inc., Class A(a)		68,381
		RENEWABLE ENERGY - 0.2%
	434	First Solar, Inc.(a)		95,710
		RESIDENTIAL REIT - 0.6%
	434	AvalonBay Communities, Inc.		83,836
	1,303	Equity Residential		84,343
	434	Essex Property Trust, Inc.		116,164
				284,343
		RETAIL - DISCRETIONARY - 3.1%
	1,303	Best Buy Company, Inc.		98,533
	869	Genuine Parts Company		120,443
	1,738	Home Depot, Inc. (The)		704,221

CATALYST/WELTON ADVANTAGE MULTI-STRATEGY FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

September 30, 2025

Shares			Fair Value
		COMMON STOCKS — 65.6% (Continued)
		RETAIL - DISCRETIONARY - 3.1% (Continued)
	1,303	Lowe’s Companies, Inc.	$	327,457
	869	O’Reilly Automotive, Inc.(a)		93,687
	869	TJX Companies, Inc. (The)		125,605
	1,738	Tractor Supply Company		98,840
				1,568,786
		RETAIL REIT - 0.5%
	4,779	Kimco Realty Corporation		104,421
	869	Simon Property Group, Inc.		163,084
				267,505
		SELF-STORAGE REIT - 0.3%
	434	Public Storage		125,361
		SEMICONDUCTORS - 4.8%
	1,738	Advanced Micro Devices, Inc.(a)		281,191
	869	Analog Devices, Inc.		213,513
	1,303	Applied Materials, Inc.		266,776
	1,303	Broadcom, Inc.		429,873
	869	Lam Research Corporation		116,359
	1,303	Marvell Technology, Inc.		109,543
	869	Micron Technology, Inc.		145,401
	3,910	NVIDIA Corporation		729,529
	869	Texas Instruments, Inc.		159,661
				2,451,846
		SOFTWARE - 4.3%
	434	Autodesk, Inc.(a)		137,869
	434	Cadence Design Systems, Inc.(a)		152,447
	869	Fortinet, Inc.(a)		73,066
	434	Intuit, Inc.		296,383
	1,303	Microsoft Corporation		674,888
	434	Oracle Corporation		122,058
	869	Palo Alto Networks, Inc.(a)		176,946
	434	ServiceNow, Inc.(a)		399,402
	869	SS&C Technologies Holdings, Inc.		77,132

CATALYST/WELTON ADVANTAGE MULTI-STRATEGY FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

September 30, 2025

Shares			Fair Value
		COMMON STOCKS — 65.6% (Continued)
		SOFTWARE - 4.3% (Continued)
	434	Workday, Inc., Class A(a)	$	104,477
				2,214,668
		SPECIALTY FINANCE - 0.6%
	869	American Express Company		288,647
	434	Synchrony Financial		30,836
				319,483
		TECHNOLOGY HARDWARE - 3.5%
	2,607	Apple, Inc.		663,820
	869	Arista Networks, Inc.(a)		126,622
	5,214	Cisco Systems, Inc.		356,742
	869	Dell Technologies, Inc., Class C		123,198
	3,910	Hewlett Packard Enterprise Company		96,030
	3,476	HP, Inc.		94,651
	434	Motorola Solutions, Inc.		198,464
	869	NetApp, Inc.		102,942
				1,762,469
		TECHNOLOGY SERVICES - 5.0%
	434	Automatic Data Processing, Inc.		127,379
	434	Block, Inc.(a)		31,365
	434	Broadridge Financial Solutions, Inc.		103,366
	434	Equifax, Inc.		111,334
	434	Fiserv, Inc.(a)		55,956
	434	International Business Machines Corporation		122,457
	1,303	Mastercard, Inc., Class A		741,159
	434	Moody’s Corporation		206,792
	1,303	PayPal Holdings, Inc.(a)		87,379
	434	S&P Global, Inc.		211,232
	2,172	Visa, Inc., Class A		741,478
				2,539,897
		TELECOMMUNICATIONS - 1.9%
	9,124	AT&T, Inc.		257,662
	1,738	T-Mobile US, Inc.		416,042
	6,083	Verizon Communications, Inc.		267,348
				941,052

CATALYST/WELTON ADVANTAGE MULTI-STRATEGY FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

September 30, 2025

Shares			Fair Value
		COMMON STOCKS — 65.6% (Continued)
		TRANSPORTATION & LOGISTICS - 1.2%
	1,738	Delta Air Lines, Inc.	$	98,632
	869	Expeditors International of Washington, Inc.		106,531
	434	FedEx Corporation		102,342
	1,303	Union Pacific Corporation		307,989
				615,494
		TRANSPORTATION EQUIPMENT - 0.7%
	434	Cummins, Inc.		183,309
	869	PACCAR, Inc.		85,440
	434	Westinghouse Air Brake Technologies Corporation		87,004
				355,753
		WHOLESALE - CONSUMER STAPLES - 0.5%
	1,738	Archer-Daniels-Midland Company		103,829
	869	Sysco Corporation		71,553
	1,303	US Foods Holding Corporation(a)		99,836
				275,218
		TOTAL COMMON STOCKS (Cost $32,092,092)		33,417,069
		SHORT-TERM INVESTMENTS — 9.3%
		MONEY MARKET FUNDS - 9.3%
	4,752,952	First American Treasury Obligations Fund, Class X, 4.02%(b)(d)		4,752,952
		TOTAL SHORT-TERM INVESTMENTS (Cost $4,752,952)		4,752,952
		TOTAL INVESTMENTS - 74.9% (Cost $36,845,044)	$	38,170,021
		OTHER ASSETS IN EXCESS OF LIABILITIES - 25.1%		12,807,506
		NET ASSETS - 100.0%	$	50,977,527

OPEN FUTURES CONTRACTS
Number of Contracts	Open Long Futures Contracts	Expiration	Notional Amount(c)		Value and Unrealized Appreciation (Depreciation)
88	CBOT 10 Year US Treasury Note Future	12/22/2025	$	9,900,000	$	1,077

CATALYST/WELTON ADVANTAGE MULTI-STRATEGY FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

September 30, 2025

OPEN FUTURES CONTRACTS (Continued)
Number of Contracts	Open Long Futures Contracts	Expiration	Notional Amount(c)		Value and Unrealized Appreciation (Depreciation)
136	CBOT 5 Year US Treasury Note Future	01/02/2026	$	14,850,563	$	(13,471	)
43	CBOT US Treasury Bond Futures	12/22/2025		5,013,531		(5,001	)
49	CME Australian Dollar Currency Future	12/16/2025		3,244,780		(1,600	)
128	CME British Pound Currency Future	12/16/2025		10,760,800		(56,331	)
8	CME E-Mini NASDAQ 100 Index Future	12/22/2025		3,984,280		58,412
15	CME E-Mini Standard & Poor’s 500 Index Future	12/22/2025		5,054,062		53,237
105	CME Euro Foreign Exchange Currency Future	12/16/2025		15,477,000		54,675
58	CME Euro FX/Japanese Yen Cross Rate Currency Future	12/16/2025		8,485,284		43,657
4	COMEX Copper Future(d)	12/30/2025		485,650		25,825
21	COMEX Gold 100 Troy Ounces Future(d)	12/30/2025		8,133,720		970,310
4	Eurex DAX Index Future	12/22/2025		2,818,854		54,232
37	Eurex EURO STOXX 50 Future	12/22/2025		2,406,868		56,969
6	HKG Hang Seng Index Future	10/31/2025		1,037,490		15,517
11	LME Copper Future(d)	12/16/2025		2,824,643		125,905
88	LME Lead Future(d)	12/16/2025		4,360,334		(45,061	)
48	LME Primary Aluminum Future(d)	12/16/2025		3,217,068		73,084
36	LME Zinc Future(d)	12/16/2025		2,672,226		129,250
6	NYBOT CSC C Coffee Future(d)	12/19/2025		843,413		96,844
46	NYMEX Light Sweet Crude Oil Future(d)	10/22/2025		2,869,020		(87,850	)
12	SGX Nikkei 225 Stock Index Future	12/12/2025		1,822,123		39,526
147	Three-Month SOFR Futures	09/15/2027		35,610,750		(21,050	)
	TOTAL LONG FUTURES CONTRACTS				$	1,568,156
Number of Contracts	Open Short Futures Contracts	Expiration	Notional Amount(c)		Value and Unrealized Appreciation (Depreciation)
199	CBOT 2 Year US Treasury Note Future	01/01/2026	$	41,471,289	$	(32,652	)
90	CBOT Soybean Future(d)	11/17/2025		4,507,875		30,863
331	CME Canadian Dollar Currency Future	12/17/2025		23,865,100		95,477
273	CME Japanese Yen Currency Future	12/16/2025		23,252,775		(10,279	)
94	Eurex 10 Year Euro BUND Future	12/09/2025		14,188,284		(20,983	)
100	Eurex 2 Year Euro SCHATZ Future	12/09/2025		12,559,286		11,809
179	Eurex 5 Year Euro BOBL Future	12/09/2025		24,756,973		25,919
54	Long Gilt Future	12/30/2025		6,597,216		(24,871	)
162	NYBOT CSC Number 11 World Sugar Future(d)	03/02/2026		3,011,905		(28,370	)
107	NYBOT CTN Number 2 Cotton Future(d)	12/09/2025		3,518,695		80,410
54	NYMEX Henry Hub Natural Gas Futures(d)	10/30/2025		1,783,620		(25,690	)
103	Three Month SONIA Index Futures	09/15/2027		33,367,124		(6,759	)
16	TSE Japanese 10 Year Bond Futures	12/16/2025		14,693,303		86,842
	TOTAL SHORT FUTURES CONTRACTS				$	181,716
	TOTAL FUTURES CONTRACTS				$	1,749,872

CATALYST/WELTON ADVANTAGE MULTI-STRATEGY FUND
SCHEDULE OF INVESTMENTS (Unaudited) (Continued)
September 30, 2025

(a)	Non-income producing security.
(b)	Rate disclosed is the seven day effective yield as of September 30, 2025.
(c)	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.
(d)	All or a portion of this investment is a holding of the CWAMSF Fund Limited.

CATALYST NASDAQ-100 HEDGED EQUITY FUND

SCHEDULE OF INVESTMENTS (Unaudited)

September 30, 2025

Shares			Fair Value
		COMMON STOCKS — 51.0%
		ADVERTISING & MARKETING - 0.1%
	223	Trade Desk, Inc. (The), Class A(a)	$	10,929
		AUTOMOTIVE - 1.8%
	742	Tesla, Inc.(a)		329,982
		BEVERAGES - 0.9%
	231	Coca-Cola Europacific Partners PLC(b)		20,885
	676	Keurig Dr Pepper, Inc.		17,245
	480	Monster Beverage Corporation(a),(b)		32,309
	670	PepsiCo, Inc.		94,094
				164,533
		BIOTECH & PHARMA - 1.4%
	267	Amgen, Inc.		75,348
	294	AstraZeneca PLC - ADR		22,556
	69	Biogen, Inc.(a)		9,666
	617	Gilead Sciences, Inc.		68,487
	53	Regeneron Pharmaceuticals, Inc.		29,800
	124	Vertex Pharmaceuticals, Inc.(a)		48,563
				254,420
		CABLE & SATELLITE - 0.4%
	70	Charter Communications, Inc., Class A(a)		19,257
	1,834	Comcast Corporation, Class A		57,625
				76,882
		CHEMICALS - 0.6%
	235	Linde PLC		111,625
		COMMERCIAL SUPPORT SERVICES - 0.2%
	204	Cintas Corporation		41,873
		DIVERSIFIED INDUSTRIALS - 0.4%
	320	Honeywell International, Inc.		67,360
		E-COMMERCE DISCRETIONARY - 3.2%
	2,166	Amazon.com, Inc.(a)		475,589

CATALYST NASDAQ-100 HEDGED EQUITY FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

September 30, 2025

Shares			Fair Value
		COMMON STOCKS — 51.0% (Continued)
		E-COMMERCE DISCRETIONARY - 3.2% (Continued)
	28	MercadoLibre, Inc.(a)	$	65,434
	327	PDD Holdings, Inc. - ADR(a),(b)		43,220
				584,243
		ELECTRIC UTILITIES - 0.7%
	267	American Electric Power Company, Inc.		30,038
	156	Constellation Energy Corporation		51,334
	503	Exelon Corporation		22,640
	287	Xcel Energy, Inc.		23,147
				127,159
		ENTERTAINMENT CONTENT - 1.0%
	151	AppLovin Corporation, Class A(a)		108,500
	124	Electronic Arts, Inc.(b)		25,011
	87	Take-Two Interactive Software, Inc.(a)		22,477
	1,225	Warner Bros Discovery, Inc.(a)		23,924
				179,912
		FOOD - 0.3%
	637	Mondelez International, Inc., Class A		39,794
	628	The Kraft Heinz Company		16,353
				56,147
		INDUSTRIAL SUPPORT SERVICES - 0.2%
	573	Fastenal Company		28,100
		INTERNET MEDIA & SERVICES - 7.1%
	218	Airbnb, Inc., Class A(a)		26,470
	1,177	Alphabet, Inc., Class A		286,129
	1,104	Alphabet, Inc., Class C		268,879
	16	Booking Holdings, Inc.		86,388
	198	DoorDash, Inc., Class A(a),(b)		53,854
	439	Meta Platforms, Inc., Class A		322,393
	209	Netflix, Inc.(a)		250,574
				1,294,687
		LEISURE FACILITIES & SERVICES - 0.5%
	137	Marriott International, Inc., Class A(b)		35,680

CATALYST NASDAQ-100 HEDGED EQUITY FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

September 30, 2025

Shares			Fair Value
		COMMON STOCKS — 51.0% (Continued)
		LEISURE FACILITIES & SERVICES - 0.5% (Continued)
	552	Starbucks Corporation	$	46,699
				82,379
		LEISURE PRODUCTS - 0.2%
	39	Axon Enterprise, Inc.(a)		27,988
		MEDICAL EQUIPMENT & DEVICES - 0.7%
	197	DexCom, Inc.(a)		13,256
	233	GE HealthCare Technologies, Inc.		17,498
	40	IDEXX Laboratories, Inc.(a)		25,556
	179	Intuitive Surgical, Inc.(a)		80,054
				136,364
		OIL & GAS PRODUCERS - 0.1%
	143	Diamondback Energy, Inc.		20,463
		OIL & GAS SERVICES & EQUIPMENT - 0.1%
	490	Baker Hughes Company		23,873
		RETAIL - CONSUMER STAPLES - 1.1%
	221	Costco Wholesale Corporation		204,564
		RETAIL - DISCRETIONARY - 0.4%
	57	Lululemon Athletica, Inc.(a)		10,142
	425	O’Reilly Automotive, Inc.(a)		45,819
	158	Ross Stores, Inc.(b)		24,078
				80,039
		SEMICONDUCTORS - 13.0%
	804	Advanced Micro Devices, Inc.(a)		130,079
	248	Analog Devices, Inc.		60,934
	405	Applied Materials, Inc.		82,920
	69	ARM Holdings PLC - ADR(a),(b)		9,763
	44	ASML Holding N.V. - ADR		42,595
	1,559	Broadcom, Inc.		514,329
	275	GLOBALFOUNDRIES, Inc.(a),(b)		9,856
	2,169	Intel Corporation(b)		72,770

CATALYST NASDAQ-100 HEDGED EQUITY FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

September 30, 2025

Shares			Fair Value
		COMMON STOCKS — 51.0% (Continued)
		SEMICONDUCTORS - 13.0% (Continued)
	67	KLA Corporation	$	72,266
	653	Lam Research Corporation		87,437
	416	Marvell Technology, Inc.		34,973
	273	Microchip Technology, Inc.		17,532
	555	Micron Technology, Inc.		92,863
	4,997	NVIDIA Corporation		932,339
	126	NXP Semiconductors N.V.		28,694
	209	ON Semiconductor Corporation(a)		10,306
	550	QUALCOMM, Inc.		91,498
	455	Texas Instruments, Inc.		83,597
				2,374,751
		SOFTWARE - 9.2%
	217	Adobe, Inc.(a)		76,547
	84	Atlassian Corporation, Class A(a),(b)		13,415
	104	Autodesk, Inc.(a)		33,038
	138	Cadence Design Systems, Inc.(a)		48,474
	126	Crowdstrike Holdings, Inc., Class A(a)		61,788
	160	Datadog, Inc., Class A(a)		22,784
	387	Fortinet, Inc.(a)		32,539
	139	Intuit, Inc.		94,924
	1,498	Microsoft Corporation		775,889
	1,116	Palantir Technologies, Inc., Class A(a)		203,581
	329	Palo Alto Networks, Inc.(a)		66,991
	54	Roper Technologies, Inc.		26,929
	612	Shopify, Inc., Class A(a)		90,949
	123	Strategy, Inc., Class A(a),(b)		39,632
	93	Synopsys, Inc.(a)		45,885
	108	Workday, Inc., Class A(a)		25,999
	78	Zscaler, Inc.(a)		23,373
				1,682,737
		TECHNOLOGY HARDWARE - 5.0%
	3,035	Apple, Inc.		772,802
	1,997	Cisco Systems, Inc.		136,635
				909,437

CATALYST NASDAQ-100 HEDGED EQUITY FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

September 30, 2025

Shares			Fair Value
		COMMON STOCKS — 51.0% (Continued)
		TECHNOLOGY SERVICES - 1.2%
	204	Automatic Data Processing, Inc.	$	59,875
	66	CDW Corporation		10,512
	245	Cognizant Technology Solutions Corporation, Class A		16,432
	212	CoStar Group, Inc.(a)		17,886
	183	Paychex, Inc.		23,197
	487	PayPal Holdings, Inc.(a)		32,658
	223	Thomson Reuters Corporation		34,639
	70	Verisk Analytics, Inc.		17,606
				212,805
		TELECOMMUNICATIONS - 0.7%
	553	T-Mobile US, Inc.		132,377
		TRANSPORTATION & LOGISTICS - 0.3%
	939	CSX Corporation		33,344
	105	Old Dominion Freight Line, Inc.		14,782
				48,126
		TRANSPORTATION EQUIPMENT - 0.1%
	262	PACCAR, Inc.		25,760
		WHOLESALE - DISCRETIONARY - 0.1%
	481	Copart, Inc.(a)		21,631
		TOTAL COMMON STOCKS (Cost $6,217,762)		9,311,146
		EXCHANGE-TRADED FUNDS — 34.0%
		EQUITY - 34.0%
	10,336	Invesco QQQ Trust Series 1		6,205,424
		TOTAL EXCHANGE-TRADED FUNDS (Cost $5,035,414)		6,205,424

CATALYST NASDAQ-100 HEDGED EQUITY FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

September 30, 2025

Shares			Fair Value
		SHORT-TERM INVESTMENTS — 6.4%
		COLLATERAL FOR SECURITIES LOANED - 2.1%
	387,741	Mount Vernon Liquid Assets Portfolio, LLC, 4.22% (Cost $387,741)(c)(f)	$	387,741
		MONEY MARKET FUNDS - 4.3%
	776,518	First American Treasury Obligations Fund, Class X, 4.02% (Cost $776,517)(c)		776,517
		TOTAL SHORT-TERM INVESTMENTS (Cost $1,164,258)		1,164,258

Contracts(d)			Broker/ Counterparty	Expiration Date	Exercise Price		Notional Value
		FUTURE OPTIONS PURCHASED - 0.5%
		CALL OPTIONS PURCHASED - 0.5%
	54	S&P Emini Future, Maturing October 2025	WED	10/17/2025	$	6,800	$	18,360,000		100,575
		TOTAL CALL OPTIONS PURCHASED (Cost - $116,100)
		TOTAL FUTURE OPTIONS PURCHASED (Cost - $116,100)								100,575
		TOTAL INVESTMENTS - 91.9% (Cost $12,533,534)							$	16,781,403
		PUT OPTIONS WRITTEN - 0.0%(e) (Premiums received - $18,525)								(8,645	)
		OTHER ASSETS IN EXCESS OF LIABILITIES - 8.1%								1,487,768
		NET ASSETS - 100.0%							$	18,260,526
Contracts(d)			Counterparty	Expiration Date	Exercise Price		Notional Value		Fair Value
		WRITTEN FUTURE OPTIONS - 0.0% (e)
		PUT OPTIONS WRITTEN - 0.0%(e)
	19	S&P Emini Future, Maturing October 2025	WED	10/17/2025	$	6,310	$	5,994,500	$	8,645
		TOTAL PUT OPTIONS WRITTEN (Proceeds - $18,525)
		TOTAL FUTURE OPTIONS WRITTEN (Proceeds - $18,525)							$	8,645

OPEN FUTURES CONTRACTS
Number of Contracts	Open Long Futures Contracts	Expiration	Notional Amount(f)		Value and Unrealized Depreciation
53	CBOE Volatility Index Future	10/23/2025	$	932,164	$	(19,927	)
19	CBOE Volatility Index Future	11/20/2025		365,735		(5,720	)
48	CBOE Volatility Index Future	12/18/2025		950,400		(12,227	)
18	CBOE Volatility Index Future	01/22/2026		372,393		(5,693	)
	TOTAL FUTURES CONTRACTS				$	(43,567	)

CATALYST NASDAQ-100 HEDGED EQUITY FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

September 30, 2025

ADR	- American Depositary Receipt
LLC	- Limited Liability Company
NV	- Naamioze Vennootschap
PLC	- Public Limited Company
WED	- Wedbush Securities

(a)	Non-income producing security.
(b)	All or a portion of these securities are on loan. Total loaned securities had a value of $375,770 at September 30, 2025.
(c)	Rate disclosed is the seven day effective yield as of September 30, 2025.
(d)	Each contract is equivalent to one futures contract.
(e)	Percentage rounds to greater than (0.1%).
(f)	Security was purchased with cash received as collateral for securities on loan at September 30, 2025. Total collateral had a value of $387,741 at September 30, 2025.

CATALYST/MAP GLOBAL EQUITY FUND

SCHEDULE OF INVESTMENTS (Unaudited)

September 30, 2025

Shares			Fair Value
		COMMON STOCKS — 91.5%
		AEROSPACE & DEFENSE - 0.5%
	4,666	Kratos Defense & Security Solutions, Inc.(a)	$	426,332
		APPAREL & TEXTILE PRODUCTS - 0.9%
	1,000	LVMH Moet Hennessy Louis Vuitton S.E.		611,059
	1,200	LVMH Moet Hennessy Louis Vuitton SE - ADR		146,772
				757,831
		BEVERAGES - 3.6%
	125,000	Arca Continental COM NPV		1,312,661
	4,950,000	Thai Beverage PCL		1,784,455
				3,097,116
		BIOTECH & PHARMA - 12.2%
	11,900	Johnson & Johnson		2,206,498
	22,002	Novartis A.G. - ADR		2,821,536
	64,000	Sanofi - ADR		3,020,801
	162,000	Takeda Pharmaceutical Company Ltd. - ADR		2,371,680
				10,420,515
		CHEMICALS - 2.2%
	55,000	Mosaic Company (The)		1,907,400
		CONSTRUCTION MATERIALS - 1.7%
	82,010	MDU Resources Group, Inc.		1,460,598
		DIVERSIFIED INDUSTRIALS - 2.7%
	2,602	Eaton Corporation PLC		973,799
	6,400	Honeywell International, Inc.		1,347,200
				2,320,999
		ELECTRICAL EQUIPMENT - 0.7%
	4,856	Daikin Industries Ltd.(b)		560,917
		ENGINEERING & CONSTRUCTION - 4.7%
	20,502	Everus Construction Group, Inc.(a)		1,758,046
	69,675	Tetra Tech, Inc.		2,325,751
				4,083,797

CATALYST/MAP GLOBAL EQUITY FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

September 30, 2025

Shares			Fair Value
		COMMON STOCKS — 91.5% (Continued)
		ENTERTAINMENT CONTENT - 2.2%
	510,000	Vivendi S.A.	$	1,794,999
	25,500	Vivendi S.A. - ADR		88,013
				1,883,012
		FOOD - 5.9%
	384,700	GrainCorp Ltd.		2,290,638
	29,500	Nestle S.A. - ADR		2,707,215
				4,997,853
		GAS & WATER UTILITIES - 3.1%
	28,270	National Fuel Gas Company		2,611,300
		HOME CONSTRUCTION - 0.9%
	14,000	Fortune Brands Innovations, Inc.		747,460
		HOUSEHOLD PRODUCTS - 1.8%
	26,000	Unilever plc - ADR		1,541,280
		INSTITUTIONAL FINANCIAL SERVICES - 0.9%
	2,775	CME Group, Inc.		749,777
		INSURANCE - 1.2%
	3,000	Aon PLC, Class A		1,069,740
		INTERNET MEDIA & SERVICES - 7.0%
	8,124	Alphabet, Inc., Class C		1,978,600
	5,428	Meta Platforms, Inc., Class A		3,986,215
				5,964,815
		LEISURE FACILITIES & SERVICES - 1.3%
	164,640	Arcos Dorados Holdings, Inc., Class A		1,111,320
		MEDICAL EQUIPMENT & DEVICES - 2.9%
	26,425	Medtronic PLC		2,516,717
		METALS & MINING - 3.3%
	29,000	Freeport-McMoRan, Inc.		1,137,380

CATALYST/MAP GLOBAL EQUITY FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

September 30, 2025

Shares			Fair Value
		COMMON STOCKS — 91.5% (Continued)
		METALS & MINING - 3.3% (Continued)
	188,340	Grupo Mexico S.A.B. de C.V., Class B	$	1,638,598
				2,775,978
		OIL & GAS PRODUCERS - 2.9%
	13,327	Chevron Corporation		2,069,550
	4,000	ConocoPhillips		378,360
				2,447,910
		PUBLISHING & BROADCASTING - 0.5%
	256,280	Louis Hachette Group(b)		464,240
		RETAIL - CONSUMER STAPLES - 5.9%
	11,000	PriceSmart, Inc.		1,333,090
	423,500	Wal-Mart de Mexico SAB de CV		1,308,178
	23,000	Walmart, Inc.		2,370,379
				5,011,647
		RETAIL - DISCRETIONARY - 1.0%
	2,104	Home Depot, Inc. (The)		852,520
		SEMICONDUCTORS - 4.8%
	7,854	Applied Materials, Inc.		1,608,029
	6,598	Micron Technology, Inc.		1,103,977
	5,500	Tokyo Electron Ltd.		980,482
	4,000	Tokyo Electron Ltd. - ADR		358,400
				4,050,888
		SOFTWARE - 4.3%
	7,110	Microsoft Corporation		3,682,625
		TECHNOLOGY HARDWARE - 3.6%
	44,810	Cisco Systems, Inc.		3,065,900
		TECHNOLOGY SERVICES - 2.2%
	8,688	Fidelity National Information Services, Inc.		572,887
	3,900	Visa, Inc., Class A		1,331,382
				1,904,269

CATALYST/MAP GLOBAL EQUITY FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

September 30, 2025

Shares					Fair Value
		COMMON STOCKS — 91.5% (Continued)
		TELECOMMUNICATIONS - 2.9%
	152,000	Orange S.A. - ADR			$	2,466,960
		TOBACCO & CANNABIS - 1.6%
	32,463	Imperial Brands plc - ADR				1,382,924
		WHOLESALE - CONSUMER STAPLES - 2.1%
	22,003	Bunge Global S.A.				1,787,744
		TOTAL COMMON STOCKS (Cost $55,477,329)				78,122,384
Shares					Fair Value
		EXCHANGE-TRADED FUNDS — 5.4%
		COMMODITY - 4.9%
	54,900	SPDR Gold MiniShares Trust(a)				4,197,105
		FIXED INCOME - 0.5%
	5,000	SPDR Bloomberg 1-3 Month T-Bill ETF				458,750
		TOTAL EXCHANGE-TRADED FUNDS (Cost $2,556,320)				4,655,855
Shares			Coupon Rate (%)	Maturity		Fair Value
		PREFERRED STOCK — 1.9%
		HOUSEHOLD PRODUCTS — 1.9%
	20,600	Henkel A.G. & Company KGaA(b)	—			1,661,446
		TOTAL PREFERRED STOCK (Cost $1,686,122)				1,661,446

CATALYST/MAP GLOBAL EQUITY FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

September 30, 2025

Shares			Fair Value
		SHORT-TERM INVESTMENT — 1.0%
		MONEY MARKET FUND - 1.0%
	884,169	First American Treasury Obligations Fund, Class X, 4.05% (Cost $884,169)(c)	$	884,169
		TOTAL INVESTMENTS - 99.8% (Cost $60,603,940)	$	85,323,854
		OTHER ASSETS IN EXCESS OF LIABILITIES - 0.2%		178,118
		NET ASSETS - 100.0%	$	85,501,972

ADR	- American Depositary Receipt
ETF	- Exchange-Traded Fund
LTD	- Limited Company
PLC	- Public Limited Company
S/A	- Société Anonyme
SPDR	- Standard & Poor’s Depositary Receipt

(a)	Non-income producing security.
(b)	The value of this security has been determined in good faith under policies of the Board of Trustees.
(c)	Rate disclosed is the seven day effective yield as of September 30, 2025.

CATALYST/LYONS TACTICAL ALLOCATION FUND

SCHEDULE OF INVESTMENTS (Unaudited)

September 30, 2025

Shares			Fair Value
		COMMON STOCKS — 86.1%
		AEROSPACE & DEFENSE - 5.8%
	2,948	Howmet Aerospace, Inc.	$	578,486
	2,900	RTX Corporation		485,257
				1,063,743
		COMMERCIAL SUPPORT SERVICES - 4.3%
	3,545	Waste Management, Inc.		782,842
		ELECTRICAL EQUIPMENT - 6.5%
	7,850	Vertiv Holdings Company		1,184,251
		HEALTH CARE FACILITIES & SERVICES - 8.0%
	2,144	HCA Healthcare, Inc.		913,772
	714	McKesson Corporation		551,594
				1,465,366
		INTERNET MEDIA & SERVICES - 8.8%
	2,811	Alphabet, Inc., Class A		683,354
	1,254	Meta Platforms, Inc., Class A		920,913
				1,604,267
		LEISURE FACILITIES & SERVICES - 4.3%
	2,977	Marriott International, Inc., Class A		775,330
		MACHINERY - 2.6%
	613	Parker-Hannifin Corporation		464,746
		RETAIL - CONSUMER STAPLES - 2.4%
	4,275	Dollar General Corporation		441,821
		RETAIL - DISCRETIONARY - 9.3%
	243	AutoZone, Inc.(a)		1,042,528
	1,736	Carvana Company(a)		654,889
				1,697,417
		SEMICONDUCTORS - 12.4%
	1,570	Broadcom, Inc.		517,959
	919	KLA Corporation		991,233

CATALYST/LYONS TACTICAL ALLOCATION FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

September 30, 2025

Shares			Fair Value
		COMMON STOCKS — 86.1% (Continued)
		SEMICONDUCTORS - 12.4% (Continued)
	4,001	NVIDIA Corporation	$	746,507
				2,255,699
		SOFTWARE - 13.4%
	2,522	Cadence Design Systems, Inc.(a)		885,878
	1,910	Microsoft Corporation		989,285
	3,000	Palantir Technologies, Inc., Class A(a)		547,260
				2,422,423
		TECHNOLOGY HARDWARE - 8.3%
	4,000	Apple, Inc.		1,018,520
	3,440	Arista Networks, Inc.(a)		501,242
				1,519,762
		TOTAL COMMON STOCKS (Cost $12,097,555)		15,677,667
		TOTAL INVESTMENTS - 86.1% (Cost $12,097,555)	$	15,677,667
		OTHER ASSETS IN EXCESS OF LIABILITIES - 13.9%		2,539,784
		NET ASSETS - 100.0%	$	18,217,451

^(a) Non-income producing security.

CATALYST/MAP GLOBAL BALANCED FUND

SCHEDULE OF INVESTMENTS (Unaudited)

September 30, 2025

Shares			Fair Value
		COMMON STOCKS — 55.9%
		AEROSPACE & DEFENSE - 0.3%
	526	Kratos Defense & Security Solutions, Inc.(a)	$	48,061
		APPAREL & TEXTILE PRODUCTS - 0.4%
	100	LVMH Moet Hennessy Louis Vuitton S.E.		61,106
		BEVERAGES - 1.5%
	7,800	Arca Continental S.A.B. de C.V.		81,910
	375,000	Thai Beverage PCL		135,186
				217,096
		BIOTECH & PHARMA - 9.3%
	1,960	Johnson & Johnson		363,423
	2,240	Novartis A.G. - ADR		287,258
	7,528	Sanofi S.A. - ADR		355,322
	23,000	Takeda Pharmaceutical Company Ltd. - ADR		336,720
				1,342,723
		CHEMICALS - 1.1%
	4,790	Mosaic Company		166,117
		CONSTRUCTION MATERIALS - 0.9%
	7,400	MDU Resources Group, Inc.		131,794
		DIVERSIFIED INDUSTRIALS - 1.1%
	270	Eaton Corporation PLC		101,048
	250	Honeywell International, Inc.		52,625
				153,673
		ENGINEERING & CONSTRUCTION - 2.7%
	2,190	Everus Construction Group, Inc.(a)		187,793
	5,985	Tetra Tech, Inc.		199,778
				387,571
		ENTERTAINMENT CONTENT - 1.5%
	33,980	Vivendi S.E.		119,596
	30,000	Vivendi S.E. - ADR		103,545
				223,141

CATALYST/MAP GLOBAL BALANCED FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

September 30, 2025

Shares			Fair Value
		COMMON STOCKS — 55.9% (Continued)
		FOOD - 3.2%
	24,000	GrainCorp Ltd.	$	142,904
	3,533	Nestle S.A. - ADR		324,223
				467,127
		GAS & WATER UTILITIES - 2.4%
	3,775	National Fuel Gas Company		348,697
		HOME CONSTRUCTION - 0.2%
	500	Fortune Brands Innovations, Inc.		26,695
		HOUSEHOLD PRODUCTS - 1.2%
	2,900	Unilever PLC - ADR		171,912
		INSTITUTIONAL FINANCIAL SERVICES - 0.7%
	360	CME Group, Inc.		97,268
		INSURANCE - 1.2%
	500	Aon PLC, Class A		178,290
		INTERNET MEDIA & SERVICES - 1.8%
	600	Alphabet, Inc., Class C		146,130
	153	Meta Platforms, Inc., Class A		112,360
				258,490
		LEISURE FACILITIES & SERVICES - 0.8%
	17,450	Arcos Dorados Holdings, Inc., Class A		117,788
		MEDICAL EQUIPMENT & DEVICES - 1.9%
	2,900	Medtronic PLC		276,196
		METALS & MINING - 1.3%
	2,000	Freeport-McMoRan, Inc.		78,440
	12,000	Grupo Mexico S.A.B. de C.V., Class B		104,403
				182,843
		OIL & GAS PRODUCERS - 1.8%
	1,300	Chevron Corporation		201,877

CATALYST/MAP GLOBAL BALANCED FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

September 30, 2025

Shares			Fair Value
		COMMON STOCKS — 55.9% (Continued)
		OIL & GAS PRODUCERS - 1.8% (Continued)
	555	ConocoPhillips	$	52,497
				254,374
		PUBLISHING & BROADCASTING - 0.5%
	37,700	Louis Hachette Group		68,292
		RETAIL - CONSUMER STAPLES - 2.8%
	1,339	PriceSmart, Inc.		162,274
	45,942	Wal-Mart de Mexico SAB de CV		141,913
	1,000	Walmart, Inc.		103,060
				407,247
		RETAIL - DISCRETIONARY - 0.9%
	323	Home Depot, Inc.		130,876
		SEMICONDUCTORS - 2.7%
	600	Applied Materials, Inc.		122,844
	680	Micron Technology, Inc.		113,778
	650	Tokyo Electron Ltd.		115,875
	400	Tokyo Electron Ltd. - ADR		35,840
				388,337
		SOFTWARE - 4.3%
	1,190	Microsoft Corporation		616,361
		TECHNOLOGY HARDWARE - 2.5%
	5,325	Cisco Systems, Inc.		364,337
		TECHNOLOGY SERVICES - 1.2%
	1,000	Fidelity National Information Services, Inc.		65,940
	300	Visa, Inc., Class A		102,414
				168,354
		TELECOMMUNICATIONS – 2.9%
	26,340	Orange S.A. - ADR		427,498

CATALYST/MAP GLOBAL BALANCED FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

September 30, 2025

Shares					Fair Value
		COMMON STOCKS — 55.9% (Continued)
		TOBACCO & CANNABIS - 1.0%
	3,340	Imperial Brands PLC - ADR			$	142,284
		WHOLESALE - CONSUMER STAPLES - 1.8%
	3,217	Bunge Global S.A.				261,381
		TOTAL COMMON STOCKS (Cost $5,668,857)				8,085,929
		EXCHANGE-TRADED FUNDS — 4.5%
		COMMODITY - 4.5%
	8,500	SPDR Gold MiniShares Trust(a)				649,825
		TOTAL EXCHANGE-TRADED FUNDS (Cost $314,458)
			Dividend Rate(b)
		PREFERRED STOCKS — 1.9%
		HOUSEHOLD PRODUCTS — 1.9%
	3,500	Henkel A.G. & Company KGaA	2.04			282,285
		TOTAL PREFERRED STOCKS (Cost $323,349)
Principal Amount ($)			Coupon Rate (%)	Maturity
		CORPORATE BONDS — 36.5%
		AEROSPACE & DEFENSE — 2.1%
	300,000	Spirit AeroSystems, Inc.	3.8500	06/15/26		298,180
		AUTOMOTIVE — 3.4%
	300,000	Ford Motor Credit Company, LLC	5.8500	05/17/27		303,848
	200,000	Honda Motor Company Ltd.	2.5340	03/10/27		195,774
						499,622

CATALYST/MAP GLOBAL BALANCED FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

September 30, 2025

Principal Amount ($)			Coupon Rate (%)	Maturity	Fair Value
		CORPORATE BONDS — 36.5% (Continued)
		CABLE & SATELLITE — 1.7%
	250,000	Grupo Televisa S.A.B	4.6250	01/30/26	$	248,120
		CHEMICALS — 1.4%
	200,000	Methanex Corporation	5.1250	10/15/27		200,389
		HOME & OFFICE PRODUCTS — 1.4%
	201,000	Steelcase, Inc.	5.1250	01/18/29		200,759
		INSTITUTIONAL FINANCIAL SERVICES — 3.0%
	250,000	Nomura Holdings, Inc.	1.6530	07/14/26		245,294
	200,000	Nomura Holdings, Inc.	2.3290	01/22/27		195,129
						440,423
		LEISURE FACILITIES & SERVICES — 1.5%
	225,000	Six Flags Entertainment Corp / Canada’s Wonderland Company / Magnum Management Corp	5.3750	04/15/27		224,549
		LEISURE PRODUCTS — 1.6%
	225,000	Brunswick Corporation	5.8500	03/18/29		233,107
		OIL & GAS SERVICES & EQUIPMENT — 1.4%
	200,000	Oceaneering International, Inc.	6.0000	02/01/28		203,232
		PUBLISHING & BROADCASTING — 3.4%
	466,000	Belo Corporation	7.7500	06/01/27		486,869
		REAL ESTATE INVESTMENT TRUSTS — 2.0%
	275,000	Elme Communities	7.2500	02/25/28		288,661
		RETAIL - DISCRETIONARY — 1.6%
	225,000	Nordstrom, Inc.	6.9500	03/15/28		233,018
		SPECIALTY FINANCE — 7.4%
	200,000	AerCap Ireland Capital DAC / AerCap Global Aviation Trust	2.4500	10/29/26		196,572
	625,000	Aircastle Ltd.	4.2500	06/15/26		624,531

CATALYST/MAP GLOBAL BALANCED FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

September 30, 2025

Principal Amount ($)			Coupon Rate (%)	Maturity	Fair Value
		CORPORATE BONDS — 36.5% (Continued)
		SPECIALTY FINANCE — 7.4% (Continued)
	250,000	Ally Financial, Inc.	5.7500	11/20/25	$	250,140
						1,071,243
		STEEL — 2.9%
	400,000	ArcelorMittal S.A.	6.5500	11/29/27		417,524
		TOBACCO & CANNABIS — 1.7%
	250,000	BAT International Finance PLC	1.6680	03/25/26		247,015
		TOTAL CORPORATE BONDS (Cost $5,260,726)				5,292,711
Shares
		SHORT-TERM INVESTMENTS — 0.5%
		MONEY MARKET FUNDS - 0.5%
	70,829	First American Treasury Obligations Fund, Class X, 4.02% (Cost $70,829)(c)				70,829
		TOTAL INVESTMENTS - 99.3% (Cost $11,638,219)			$	14,381,579
		OTHER ASSETS IN EXCESS OF LIABILITIES - 0.7%				115,054
		NET ASSETS - 100.0%			$	14,496,633

ADR	- American Depositary Receipt
A.G.	- Aktiengesellschaft
DAC	- Designated Activity Company
KGaA	- Kommanditgesellschaft auf Aktien
LLC	- Limited Liability Company
Ltd.	- Limited Company
PCL	- Public Company Limited
PLC	- Public Limited Company
S.A.	- Société Anonyme
S.A.B	- Sociedad Anónima Bursátil
S.A.B de C.V.	- Sociedad Anónima Bursátil de Capital Variable
S.E.	- Societas Europeae
SPDR	- Standard & Poor’s Depositary Receipt

(a)	Non-income producing security.
(b)	Euro. Pays annually.
(c)	Rate disclosed is the seven day effective yield as of September 30, 2025.

CATALYST/MILLBURN HEDGE STRATEGY FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)

September 30, 2025

Shares			Fair Value
		EXCHANGE-TRADED FUNDS — 50.4%
		EQUITY - 50.4%
	1,697,608	Dimensional Emerging Core Equity Market ETF	$	53,525,580
	1,534,780	Dimensional International Core Equity 2 ETF		50,325,436
	2,939,529	Dimensional US Core Equity 2 ETF		113,377,634
	986,101	Dimensional US High Profitability ETF		37,245,035
	7,838,358	iShares Core S&P Mid-Cap ETF		511,531,243
	2,208,715	iShares Core S&P Small-Cap ETF		262,461,603
	776,099	iShares MSCI Australia ETF		20,954,673
	675,879	iShares MSCI Brazil ETF		20,952,249
	417,732	iShares MSCI Canada ETF		21,116,353
	178,952	iShares MSCI France ETF		7,861,361
	675,976	iShares MSCI Hong Kong ETF		14,567,283
	2,276,392	iShares MSCI India ETF		118,508,968
	1,509,275	iShares MSCI Intl Quality Factor ETF		66,694,862
	803,643	iShares MSCI Japan ETF		64,460,205
	195,858	iShares MSCI Malaysia ETF		5,076,639
	314,747	iShares MSCI Mexico ETF		21,468,893
	458,054	iShares MSCI Singapore ETF		12,981,250
	111,939	iShares MSCI South Africa ETF		7,175,290
	216,614	iShares MSCI Spain ETF		10,722,393
	471,240	iShares MSCI Switzerland ETF		26,031,298
	992,815	iShares MSCI Taiwan ETF		63,162,890
	76,746	iShares MSCI Thailand ETF		4,519,572
	99,658	iShares MSCI Turkey ETF		3,411,293
	1,357,538	iShares MSCI United Kingdom ETF		56,975,870
	3,752,960	iShares MSCI USA Min Vol Factor ETF		357,056,614
	228,911	iShares MSCI USA Quality Factor ETF		44,523,190
	1,465,713	iShares Russell 1000 ETF		535,688,787
	1,507,119	iShares Russell 2000 ETF		364,662,513
	685,140	iShares Russell Mid-Cap ETF		66,150,267
	467,964	SPDR S&P 500 ETF Trust		311,748,258
	6,211,582	Vanguard FTSE Emerging Markets ETF		336,543,513
	102,070	Vanguard FTSE Europe ETF		8,145,186
	398,909	Vanguard Large-Cap ETF		122,808,125
	379,615	Vanguard Mid-Cap ETF		111,508,110

CATALYST/MILLBURN HEDGE STRATEGY FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

September 30, 2025

Shares					Fair Value
		EXCHANGE-TRADED FUNDS — 50.4% (Continued)
		EQUITY - 50.4% (Continued)
	1,174,363	Vanguard Real Estate ETF			$	107,360,265
	229,564	Vanguard S&P 500 ETF				140,580,402
	341,352	Vanguard Small-Cap ETF				86,798,987
	464,642	WisdomTree India Earnings Fund				20,537,176
						4,189,219,266
		TOTAL EXCHANGE-TRADED FUNDS (Cost $2,763,087,757)				4,189,219,266
Principal Amount ($)			Coupon Rate (%)	Maturity
		U.S. GOVERNMENT & AGENCIES — 40.6%
		U.S. TREASURY NOTES — 40.6%
	1,827,489,000	United States Treasury Note(c)(d)	2.2500	11/15/25		1,823,594,913
	985,570,000	United States Treasury Note(c)(d)	1.6250	02/15/26		977,223,770
	585,927,000	United States Treasury Note(d)	1.5000	08/15/26		574,661,891
						3,375,480,574
		TOTAL U.S. GOVERNMENT & AGENCIES (Cost $3,373,531,737)				3,375,480,574
Shares
		SHORT-TERM INVESTMENTS — 7.3%
		MONEY MARKET FUNDS - 7.3%
	604,052,183	First American Treasury Obligations Fund, Class X, 4.02%(a)(c)				604,052,183
		TOTAL SHORT-TERM INVESTMENTS (Cost $604,052,183)				604,052,183
		TOTAL INVESTMENTS - 98.3% (Cost $6,740,671,677)			$	8,168,752,023
		OTHER ASSETS IN EXCESS OF LIABILITIES - 1.7%				142,923,429
		NET ASSETS - 100.0%			$	8,311,675,452

OPEN FUTURES CONTRACTS
Number of Contracts	Open Long Futures Contracts	Expiration	Notional Amount(b)		Value and Unrealized Appreciation (Depreciation)
10,655	CBOT 10 Year US Treasury Note Future	12/22/2025	$	1,198,687,499	$	(1,118,579	)

CATALYST/MILLBURN HEDGE STRATEGY FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

September 30, 2025

OPEN FUTURES CONTRACTS (Continued)
Number of Contracts	Open Long Futures Contracts	Expiration	Notional Amount(b)		Value and Unrealized Appreciation (Depreciation)
1,864	CBOT US Treasury Bond Futures	12/22/2025	$	217,330,750	$	589,031
84	CME Live Cattle Future(c)	01/01/2026		7,888,440		(13,080	)
926	CME Mexican Peso Currency Future	12/16/2025		25,057,560		107,095
566	COMEX Gold 100 Troy Ounces Future(c)	12/30/2025		219,223,120		3,773,990
469	COMEX Silver Future(c)	12/30/2025		109,370,800		2,804,500
6,015	Eurex 10 Year Euro BUND Future	12/09/2025		907,899,213		678,839
3,348	Eurex 2 Year Euro SCHATZ Future	12/09/2025		420,484,903		(123,927	)
1,035	Eurex 30 Year Euro BUXL Future	12/09/2025		139,101,667		354,603
4,713	Eurex 5 Year Euro BOBL Future	12/09/2025		651,841,430		84,644
37	Eurex DAX Index Future	12/22/2025		26,074,401		30,024
750	Eurex EURO STOXX 50 Future	12/22/2025		48,787,861		(57,197	)
3,749	Euro-BTP Italian Bond Futures	12/09/2025		527,447,946		968,888
3,304	French Government Bond Futures	12/09/2025		470,697,816		61,155
253	FTSE 100 Index Future	12/22/2025		32,009,919		10,591
3,335	HKG Hang Seng China Enterprises Index Future	10/31/2025		205,194,902		2,369,345
2,361	HKG Hang Seng Index Future	10/31/2025		408,252,218		4,552,314
2,147	ICE Brent Crude Oil Future(c)	11/03/2025		141,766,410		(5,264,420	)
414	ICE Gas Oil Future(c)	11/13/2025		28,441,800		(301,425	)
222	ICE Gas Oil Future(c)	12/12/2025		14,951,700		40,725
79	ICE Gas Oil Future(c)	01/13/2026		5,251,525		14,650
2,336	KFE KOSPI 200 Index Future	12/12/2025		197,968,570		7,421,818
199	LME Copper Future(c)	12/16/2025		51,100,362		12,275
38	LME Primary Aluminum Future(c)	12/16/2025		2,546,846		6,109
2,258	Long Gilt Future	12/30/2025		275,861,368		68,319
12	MEFF Madrid IBEX 35 Index Future	10/20/2025		2,184,752		(620	)
4,318	Montreal Exchange 10 Year Canadian Bond Future	12/19/2025		380,022,480		3,021,033
73	NYBOT CSC C Coffee Future(c)	12/19/2025		10,261,519		45,600
39	NYBOT CSC Cocoa Future(c)	12/16/2025		2,632,110		(202,570	)
276	NYMEX Henry Hub Natural Gas Futures(c)	10/30/2025		9,116,280		354,860
747	NYMEX Light Sweet Crude Oil Future(c)	10/22/2025		46,590,390		(2,020,510	)
38	NYMEX NY Harbor ULSD Futures(c)	11/03/2025		3,709,264		(100,816	)
5	NYMEX Platinum Future(c)	01/29/2026		401,425		(450	)
858	OSE Nikkei 225 Index Future	12/12/2025		261,056,768		6,180,880
2,683	SGX FTSE China A50 Futures Contract	10/31/2025		40,553,545		(41,890	)
424	SGX FTSE Taiwan Index Futures	10/31/2025		36,264,720		89,910
332	SGX Nikkei 225 Stock Index Future	12/12/2025		50,412,062		991,601
25	Three-Month SOFR Futures	06/16/2027		6,057,188		1,563
884	Three-Month SOFR Futures	09/15/2027		214,149,000		22,862
983	Three-Month SOFR Futures	12/15/2027		238,045,738		248,088
435	Three-Month SOFR Futures	03/15/2028		105,291,750		48,987
118	TSE Japanese 10 Year Bond Futures	12/16/2025		108,363,113		(177,258	)
549	TSE TOPIX (Tokyo Price Index) Future	12/12/2025		116,619,710		(67,880	)
647	Ultra U.S. Treasury Bond Futures	12/22/2025		77,680,438		426,094
	TOTAL LONG FUTURES CONTRACTS				$	25,889,771

CATALYST/MILLBURN HEDGE STRATEGY FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

September 30, 2025

OPEN FUTURES CONTRACTS (Continued)
Number of Contracts	Open Short Futures Contracts	Expiration	Notional Amount(b)		Value and Unrealized Appreciation (Depreciation)
125	3 Month Euro Euribor Future	03/16/2027	$	35,922,091	$	5,454
1,594	3 Month Euro Euribor Future	06/15/2026		458,616,518		364,170
281	3 Month Euro Euribor Future	06/15/2027		80,703,378		24,724
647	3 Month Euro Euribor Future	09/14/2026		186,122,637		89,026
250	3 Month Euro Euribor Future	09/14/2027		71,756,134		24,923
257	3 Month Euro Euribor Future	12/15/2026		73,901,077		17,078
224	3 Month Euro Euribor Future	12/14/2027		64,254,050		16,638
485	BMF Ibovespa Index Future	10/16/2025		13,409,011		21,734
214	Carbon Emissions Future(c)	12/16/2025		19,023,339		49,048
9,567	CBOT 2 Year US Treasury Note Future	01/01/2026		1,993,747,857		(1,373,860	)
9,036	CBOT 5 Year US Treasury Note Future	01/02/2026		986,688,848		536,177
2,557	CBOT Corn Future(c)	12/15/2025		53,121,675		371,438
3,821	CBOT Soybean Future(c)	11/17/2025		191,384,338		7,457,287
482	CBOT Soybean Meal Future(c)	12/15/2025		13,173,060		612,990
1,785	CBOT Soybean Oil Future(c)	12/15/2025		53,003,790		1,869,930
246	CBOT Wheat Future(c)	12/15/2025		6,248,400		223,587
1,952	CME Australian Dollar Currency Future	12/16/2025		129,261,440		328,439
497	CME British Pound Currency Future	12/16/2025		41,782,169		(163,119	)
1,614	CME Canadian Dollar Currency Future	12/17/2025		116,369,400		1,287,765
279	CME E-Mini NASDAQ 100 Index Future	12/22/2025		138,951,765		(298,170	)
2,271	CME E-mini Russell 2000 Index Futures	12/22/2025		278,822,025		795,255
688	CME E-Mini Standard & Poor’s 500 Index Future	12/22/2025		231,813,000		(557,825	)
255	CME E-Mini Standard & Poor’s MidCap 400 Index Future	12/22/2025		83,798,100		1,040,850
618	CME Euro Foreign Exchange Currency Future	12/16/2025		91,093,200		(286,419	)
1,553	CME Japanese Yen Currency Future	12/16/2025		132,276,774		489,828
470	CME Lean Hogs Future(c)	12/15/2025		16,680,300		41,410
363	CME New Zealand Dollar Currency Future	12/16/2025		21,106,635		566,455
559	CME Swiss Franc Currency Future	12/16/2025		88,552,588		107,850
408	COMEX Copper Future(c)	12/30/2025		49,536,300		(1,467,837	)
1,143	E-mini Dow Jones Industrial Average Index Futures	12/22/2025		266,827,635		(761,965	)
1,004	Euronext CAC 40 Index Future	10/20/2025		93,056,821		(561,740	)
57	FTSE/MIB Index Future	12/22/2025		14,217,880		(122,822	)
297	ICE Brent Crude Oil Future(c)	12/01/2025		19,489,140		34,000
75	ICE Brent Crude Oil Future(c)	12/31/2025		4,899,000		5,730
49	ICE Brent Crude Oil Future(c)	02/02/2026		3,191,860		3,620
73	ICE Brent Crude Oil Future(c)	03/02/2026		4,749,380		(1,260	)
23	ICE Brent Crude Oil Future(c)	04/01/2026		1,495,460		660
717	ICE US mini MSCI EAFE Index Futures	12/22/2025		99,853,005		227,595
847	ICE US MSCI Emerging Markets EM Index Futures	12/22/2025		57,583,295		(143,310	)
1,295	IFSC NIFTY 50 Index Futures	10/29/2025		64,132,285		656,914
152	KCBT Hard Red Winter Wheat Future(c)	12/15/2025		3,782,900		86,113
12	LME Lead Future(c)	12/16/2025		594,591		1,014
43	LME Nickel Future(c)	12/16/2025		3,924,291		(7,750	)
46	LME Zinc Future(c)	12/16/2025		3,414,511		(40,492	)
210	Montreal Exchange S&P/TSX 60 Index Future	12/19/2025		53,510,798		(191,590	)
61	NYBOT CSC Number 11 World Sugar Future(c)	03/02/2026		1,134,112		(22,120	)
590	NYBOT CTN Number 2 Cotton Future(c)	12/09/2025		19,402,150		277,020

CATALYST/MILLBURN HEDGE STRATEGY FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

September 30, 2025

OPEN FUTURES CONTRACTS (Continued)
Number of Contracts	Open Short Futures Contracts	Expiration	Notional Amount(b)		Value and Unrealized Appreciation (Depreciation)
183	NYMEX Henry Hub Natural Gas Futures(c)	02/26/2026	$	6,630,090	$	(49,910	)
160	NYMEX Henry Hub Natural Gas Futures(c)	11/26/2025		6,208,000		(117,890	)
390	NYMEX Henry Hub Natural Gas Futures(c)	12/30/2025		16,290,300		76,010
281	NYMEX Henry Hub Natural Gas Futures(c)	01/29/2026		11,180,990		(120,630	)
90	NYMEX Light Sweet Crude Oil Future(c)	12/22/2025		5,551,200		20,650
6	NYMEX Light Sweet Crude Oil Future(c)	01/21/2026		368,880		1,050
7	NYMEX Light Sweet Crude Oil Future(c)	02/23/2026		429,520		320
8	NYMEX Light Sweet Crude Oil Future(c)	03/23/2026		490,320		460
389	NYMEX Light Sweet Crude Oil Future(c)	11/21/2025		24,102,440		163,460
65	NYMEX NY Harbor ULSD Futures(c)	01/01/2026		6,233,136		12,293
23	NYMEX NY Harbor ULSD Futures(c)	02/02/2026		2,192,240		1,802
170	NYMEX NY Harbor ULSD Futures(c)	12/01/2025		16,424,142		32,806
507	NYMEX Reformulated Gasoline Blendstock for Oxygen Future(c)	12/01/2025		39,919,862		149,646
676	NYMEX Reformulated Gasoline Blendstock for Oxygen Future(c)	11/03/2025		54,577,943		160,884
181	NYMEX Reformulated Gasoline Blendstock for Oxygen Future(c)	01/01/2026		14,072,822		62,694
86	NYMEX Reformulated Gasoline Blendstock for Oxygen Future(c)	02/02/2026		6,700,260		29,858
370	SAFEX FTSE/JSE Top 40 Index Future	12/19/2025		21,887,233		(574,343	)
2,658	SFE 10 Year Australian Bond Future	12/16/2025		199,330,920		(170,731	)
3,015	SFE 3 Year Australian Bond Future	12/16/2025		213,115,938		50,708
107	SFE S&P ASX Share Price Index 200 Future	12/19/2025		15,703,126		44,041
2,985	TEF SET50 Index Future	12/30/2025		15,017,039		55,031
22	Three Month SONIA Index Futures	09/15/2027		7,126,959		(1,480	)
82	Three Month SONIA Index Futures	06/16/2027		26,572,389		(4,375	)
926	Three Month SONIA Index Futures	09/15/2026		299,933,461		227,459
455	Three Month SONIA Index Futures	12/15/2026		147,444,355		111,200
117	Three Month SONIA Index Futures	12/15/2027		37,888,693		(1,655	)
101	Three Month SONIA Index Futures	03/17/2027		32,734,500		(5,096	)
102	Three Month SONIA Index Futures	03/15/2028		33,020,880		(6,322	)
1,488	Three-Month SOFR Futures	12/16/2026		360,282,000		(234,062	)
626	Three-Month SOFR Futures	03/17/2027		151,656,325		(74,475	)
2,807	Three-Month SOFR Futures	09/15/2026		678,697,514		(453,014	)
425	TTF Natural Gas Base Load Monthly Futures(c)	10/31/2025		11,284,064		83,761
	TOTAL SHORT FUTURES CONTRACTS				$	11,104,593
	TOTAL FUTURES CONTRACTS				$	36,994,364

CATALYST/MILLBURN HEDGE STRATEGY FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)

September 30, 2025 (Unaudited)

OPEN FORWARD FOREIGN CURRENCY CONTRACTS
							Unrealized
Foreign Currency	Settlement Date	Counterparty	Local Currency		U.S. Dollar Value		Appreciation/ (Depreciation)
To Buy:
Australian Dollar	10/01/2025	Bank Of America Merrill Lynch		148,020,000	$	97,929,211	$	733,495
British Pound	10/01/2025	Deutsche Bank		16,320,000		21,948,757		36,782
Canadian Dollar	10/01/2025	Deutsche Bank		156,950,000		112,796,002		45,972
Euro	10/01/2025	Deutsche Bank		33,120,000		38,882,366		65,258
Japanese Yen	10/01/2025	Deutsche Bank		18,187,999,999		123,003,264		624,696
Mexican Peso	10/01/2025	Deutsche Bank		326,470,000		17,823,528		21,031
New Zealand Dollar	10/01/2025	Bank Of America Merrill Lynch		56,370,000		32,682,051		64,906
Norwegian Krone	10/01/2025	Bank Of America Merrill Lynch		273,010,000		27,354,094		(18,074	)
Polish Zloty	10/01/2025	Bank Of America Merrill Lynch		90,890,000		25,005,501		45,441
Singapore Dollar	10/01/2025	Bank Of America Merrill Lynch		34,580,000		26,808,486		5,862
South African Rand	10/01/2025	Bank Of America Merrill Lynch		218,630,000		12,660,039		2,668
Swedish Krona	10/01/2025	Bank Of America Merrill Lynch		233,290,000		24,779,440		3,106
Swiss Franc	10/01/2025	Bank Of America Merrill Lynch		73,500,000		92,337,843		137,838
Australian Dollar	10/02/2025	Bank Of America Merrill Lynch		72,380,000		47,886,204		147,031
British Pound	10/02/2025	Deutsche Bank		66,610,000		89,583,747		58,000
Euro	10/02/2025	Deutsche Bank		20,790,000		24,407,139		(153	)
Japanese Yen	10/02/2025	Deutsche Bank		36,139,000,000		244,403,718		674,838
Mexican Peso	10/02/2025	Deutsche Bank		708,940,000		38,704,357		32,210
New Zealand Dollar	10/02/2025	Bank Of America Merrill Lynch		130,170,000		75,469,619		43,367
Norwegian Krone	10/02/2025	Bank Of America Merrill Lynch		44,260,000		4,434,608		1,817
Polish Zloty	10/02/2025	Bank Of America Merrill Lynch		102,880,000		28,304,173		17,946
Singapore Dollar	10/02/2025	Bank Of America Merrill Lynch		87,080,000		67,509,631		23,362
South African Rand	10/02/2025	Bank Of America Merrill Lynch		437,520,000		25,335,135		7,410
Swedish Krona	10/02/2025	Bank Of America Merrill Lynch		267,440,000		28,406,761		8,807
Swiss Franc	10/02/2025	Bank Of America Merrill Lynch		73,420,000		92,237,340		(149,724	)
Israeli Shekel	10/03/2025	Bank Of America Merrill Lynch		45,120,000		13,621,544		(27,943	)
Chinese Yuan Offshore	10/09/2025	Bank Of America Merrill Lynch		654,500,000		91,866,609		(1,109	)
Chinese Yuan Offshore	10/10/2025	Bank Of America Merrill Lynch		1,292,210,000		181,390,139		118,719
Australian Dollar	10/15/2025	Bank Of America Merrill Lynch		495,120,000		327,633,939		831,770
Brazilian Real	10/15/2025	Bank Of America Merrill Lynch		4,710,429,999		882,200,559		21,437,887
British Pound	10/15/2025	Deutsche Bank		727,640,000		978,677,374		(3,840,760	)
Canadian Dollar	10/15/2025	Deutsche Bank		366,480,000		263,560,994		(32,042	)
Chilean Peso	10/15/2025	Bank Of America Merrill Lynch		40,215,999,999		41,832,200		194,468
Euro	10/15/2025	Deutsche Bank		1,378,390,000		1,619,571,939		1,849,769
Indian Rupee	10/15/2025	Bank Of America Merrill Lynch		7,424,060,000		83,502,828		(646,959	)
Israeli Shekel	10/15/2025	Bank Of America Merrill Lynch		281,560,000		85,001,810		795,882
Japanese Yen	10/15/2025	Deutsche Bank		135,110,999,991		915,118,287		(1,729,037	)
Mexican Peso	10/15/2025	Deutsche Bank		13,405,619,999		730,798,821		10,858,191
New Zealand Dollar	10/15/2025	Bank Of America Merrill Lynch		836,070,000		484,995,034		(7,715,185	)
Norwegian Krone	10/15/2025	Bank Of America Merrill Lynch		3,592,100,000		359,933,868		(3,040,912	)
Polish Zloty	10/15/2025	Bank Of America Merrill Lynch		803,940,000		221,136,829		117,747
Singapore Dollar	10/15/2025	Bank Of America Merrill Lynch		444,230,000		344,770,560		(2,991,642	)
South African Rand	10/15/2025	Bank Of America Merrill Lynch		3,711,430,000		214,710,211		2,194,874
South Korean Won	10/15/2025	Bank Of America Merrill Lynch		220,700,999,999		157,298,457		(1,874,845	)

CATALYST/MILLBURN HEDGE STRATEGY FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

September 30, 2025 (Unaudited) (Continued)

OPEN FORWARD FOREIGN CURRENCY CONTRACTS (Continued)
							Unrealized
Foreign Currency	Settlement Date	Counterparty	Local Currency		U.S. Dollar Value		Appreciation/ (Depreciation)
To Buy: (continued)
Swedish Krona	10/15/2025	Bank Of America Merrill Lynch		2,718,800,000	$	289,045,626	$	(1,566,728	)
Swiss Franc	10/15/2025	Bank Of America Merrill Lynch		492,810,000		620,155,908		(2,178,915	)
Chinese Yuan Offshore	10/15/2025	Bank Of America Merrill Lynch		7,506,799,997		1,054,139,619		(3,703,634	)
British Pound	11/19/2025	Deutsche Bank		146,780,000		197,437,058		(83,263	)
Chilean Peso	11/19/2025	Bank Of America Merrill Lynch		2,978,000,000		3,097,742		3,183
Euro	11/19/2025	Deutsche Bank		57,800,000		68,053,460		24,409
Norwegian Krone	11/19/2025	Bank Of America Merrill Lynch		31,130,000		3,119,691		(562	)
Singapore Dollar	11/19/2025	Bank Of America Merrill Lynch		117,190,000		91,192,572		(40,081	)
South African Rand	11/19/2025	Bank Of America Merrill Lynch		1,753,150,000		101,167,419		(146,788	)
South Korean Won	11/19/2025	Bank Of America Merrill Lynch		28,967,000,000		20,675,543		(23,580	)
Swedish Krona	11/19/2025	Bank Of America Merrill Lynch		484,590,000		51,632,774		(320,677	)
Chinese Yuan Offshore	11/19/2025	Bank Of America Merrill Lynch		1,761,899,999		248,036,559		75,566
					$	12,166,068,987	$	11,171,695
To Sell:
Australian Dollar	10/01/2025	Bank Of America Merrill Lynch		148,020,000	$	97,929,209	$	(604,579	)
British Pound	10/01/2025	Deutsche Bank		16,320,000		21,948,761		(23,816	)
Canadian Dollar	10/01/2025	Deutsche Bank		156,950,000		112,796,004		(18,108	)
Euro	10/01/2025	Deutsche Bank		33,120,000		38,882,368		(34,748	)
Japanese Yen	10/01/2025	Deutsche Bank		18,187,999,999		123,003,260		(594,387	)
Mexican Peso	10/01/2025	Deutsche Bank		326,470,000		17,823,528		(15,973	)
New Zealand Dollar	10/01/2025	Bank Of America Merrill Lynch		56,370,000		32,682,050		(68,592	)
Norwegian Krone	10/01/2025	Bank Of America Merrill Lynch		273,010,000		27,354,093		47,110
Polish Zloty	10/01/2025	Bank Of America Merrill Lynch		90,890,000		25,005,502		(43,951	)
Singapore Dollar	10/01/2025	Bank Of America Merrill Lynch		34,580,000		26,808,488		(1,262	)
South African Rand	10/01/2025	Bank Of America Merrill Lynch		218,630,000		12,660,038		(2,669	)
Swedish Krona	10/01/2025	Bank Of America Merrill Lynch		233,290,000		24,779,440		34,952
Swiss Franc	10/01/2025	Bank Of America Merrill Lynch		73,500,000		92,337,842		(140,682	)
Australian Dollar	10/02/2025	Bank Of America Merrill Lynch		72,380,000		47,886,206		29,367
British Pound	10/02/2025	Deutsche Bank		66,610,000		89,583,752		72,497
Euro	10/02/2025	Deutsche Bank		20,790,000		24,407,138		37,230
Japanese Yen	10/02/2025	Deutsche Bank		36,138,999,999		244,403,716		224,999
Mexican Peso	10/02/2025	Deutsche Bank		708,940,000		38,704,359		(13,456	)
New Zealand Dollar	10/02/2025	Bank Of America Merrill Lynch		130,170,000		75,469,620		(10,071	)
Norwegian Krone	10/02/2025	Bank Of America Merrill Lynch		44,260,000		4,434,608		5,271
Polish Zloty	10/02/2025	Bank Of America Merrill Lynch		102,880,000		28,304,171		59,305
Singapore Dollar	10/02/2025	Bank Of America Merrill Lynch		87,080,000		67,509,633		38,228
South African Rand	10/02/2025	Bank Of America Merrill Lynch		437,520,000		25,335,132		25,979
Swedish Krona	10/02/2025	Bank Of America Merrill Lynch		267,440,000		28,406,760		5,559
Swiss Franc	10/02/2025	Bank Of America Merrill Lynch		73,420,000		92,237,343		(86,764	)
Israeli Shekel	10/03/2025	Bank Of America Merrill Lynch		45,120,000		13,621,539		21,609
Chinese Yuan Offshore	10/09/2025	Bank Of America Merrill Lynch		654,500,000		91,866,610		(29,071	)
Chinese Yuan Offshore	10/10/2025	Bank Of America Merrill Lynch		1,292,210,000		181,390,142		(83,826	)
Australian Dollar	10/15/2025	Bank Of America Merrill Lynch		1,454,730,000		962,633,139		(4,957,217	)
Brazilian Real	10/15/2025	Bank Of America Merrill Lynch		2,183,790,000		408,994,675		(5,161,608	)
British Pound	10/15/2025	Deutsche Bank		727,640,000		978,677,372		5,889,949
Canadian Dollar	10/15/2025	Deutsche Bank		1,728,700,000		1,243,227,159		11,812,904
Chilean Peso	10/15/2025	Bank Of America Merrill Lynch		40,216,000,000		41,832,202		(280,497	)
Chinese Yuan Offshore	10/15/2025	Bank Of America Merrill Lynch		7,506,800,000		1,054,139,619		1,535,025

CATALYST/MILLBURN HEDGE STRATEGY FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

September 30, 2025 (Unaudited) (Continued)

OPEN FORWARD FOREIGN CURRENCY CONTRACTS (Continued)
							Unrealized
Foreign Currency	Settlement Date	Counterparty	Local Currency		U.S. Dollar Value		Appreciation/ (Depreciation)
To Sell: (continued)
Euro	10/15/2025	Deutsche Bank		1,378,390,000	$	1,619,571,936	$	2,113,538
Indian Rupee	10/15/2025	Bank Of America Merrill Lynch		11,781,820,000		132,517,159		710,651
Israeli Shekel	10/15/2025	Bank Of America Merrill Lynch		181,850,000		54,899,772		(204,071	)
Japanese Yen	10/15/2025	Deutsche Bank		224,929,999,989		1,523,470,009		905,818
Mexican Peso	10/15/2025	Deutsche Bank		7,233,550,000		394,332,363		(4,993,913	)
New Zealand Dollar	10/15/2025	Bank Of America Merrill Lynch		1,718,070,000		996,633,561		10,963,070
Norwegian Krone	10/15/2025	Bank Of America Merrill Lynch		3,592,100,000		359,933,869		(73,200	)
Polish Zloty	10/15/2025	Bank Of America Merrill Lynch		456,560,000		125,584,286		134,133
Singapore Dollar	10/15/2025	Bank Of America Merrill Lynch		444,230,000		344,770,560		1,405,402
South African Rand	10/15/2025	Bank Of America Merrill Lynch		3,711,430,000		214,710,212		(3,124,470	)
South Korean Won	10/15/2025	Bank Of America Merrill Lynch		220,700,999,999		157,298,448		1,552,867
Swedish Krona	10/15/2025	Bank Of America Merrill Lynch		2,718,800,000		289,045,626		1,753,981
Swiss Franc	10/15/2025	Bank Of America Merrill Lynch		492,810,000		620,155,906		(283,990	)
Chilean Peso	11/19/2025	Bank Of America Merrill Lynch		3,011,000,000		3,132,069		7,847
Chinese Yuan Offshore	11/19/2025	Bank Of America Merrill Lynch		7,233,209,999		1,018,276,018		(1,472,562	)
Norwegian Krone	11/19/2025	Bank Of America Merrill Lynch		317,270,000		31,795,198		16,718
Singapore Dollar	11/19/2025	Bank Of America Merrill Lynch		252,640,000		196,594,345		(454,824	)
South African Rand	11/19/2025	Bank Of America Merrill Lynch		688,490,000		39,730,061		(212,002	)
South Korean Won	11/19/2025	Bank Of America Merrill Lynch		47,974,000,000		34,242,020		(79,441	)
Swedish Krona	11/19/2025	Bank Of America Merrill Lynch		1,603,450,000		170,846,638		(390,596	)
Swiss Franc	11/19/2025	Bank Of America Merrill Lynch		522,710,000		660,527,179		(1,642,928	)
					$	15,385,142,713	$	14,300,735
Total							$	25,472,430

ETF	- Exchange-Traded Fund
MSCI	- Morgan Stanley Capital International
SPDR	- Standard & Poor’s Depositary Receipt

(a)	Rate disclosed is the seven day effective yield as of September 30, 2025.
(b)	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.
(c)	All or a portion of this investment is a holding of the CMHSF Fund Limited.
(d)	Held as collateral for futures.

CATALYST DYNAMIC ALPHA FUND

SCHEDULE OF INVESTMENTS (Unaudited)

September 30, 2025

Shares			Fair Value
		COMMON STOCKS — 99.3%
		AEROSPACE & DEFENSE - 3.0%
	2,800	TransDigm Group, Inc.	$	3,690,456
		APPAREL & TEXTILE PRODUCTS - 3.1%
	12,450	Ralph Lauren Corporation		3,903,822
		ASSET MANAGEMENT - 5.6%
	6,250	LPL Financial Holdings, Inc.		2,079,313
	34,025	Robinhood Markets, Inc., Class A(a)		4,871,699
				6,951,012
		AUTOMOTIVE - 1.6%
	16,200	Autoliv, Inc.(b)		2,000,700
		BANKING - 3.2%
	55,550	HSBC Holdings plc - ADR(b)		3,942,939
		BIOTECH & PHARMA - 3.8%
	17,025	Corcept Therapeutics, Inc.(a)		1,414,948
	25,650	Novartis A.G. - ADR		3,289,356
				4,704,304
		CONSUMER SERVICES - 1.0%
	7,950	Stride, Inc.(a),(b)		1,184,073
		E-COMMERCE DISCRETIONARY - 4.4%
	24,775	Amazon.com, Inc.(a)		5,439,847
		ELECTRICAL EQUIPMENT - 6.9%
	55,000	Amphenol Corporation, Class A		6,806,250
	10,250	Generac Holdings, Inc.(a)		1,715,850
				8,522,100
		ENGINEERING & CONSTRUCTION - 5.4%
	5,850	EMCOR Group, Inc.		3,799,809
	8,725	Sterling Infrastructure, Inc.(a)		2,963,708
				6,763,517

CATALYST DYNAMIC ALPHA FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

September 30, 2025

Shares			Fair Value
		COMMON STOCKS — 99.3% (Continued)
		ENTERTAINMENT CONTENT - 6.4%
	5,000	AppLovin Corporation, Class A(a)	$	3,592,700
	24,575	Sea Ltd. - ADR(a)		4,392,290
				7,984,990
		HEALTH CARE FACILITIES & SERVICES - 4.9%
	20,675	Cardinal Health, Inc.		3,245,147
	14,575	Quest Diagnostics, Inc.		2,777,704
				6,022,851
		HOME CONSTRUCTION - 1.9%
	17,250	Toll Brothers, Inc.		2,382,915
		INSTITUTIONAL FINANCIAL SERVICES - 1.4%
	5,100	Evercore, Inc., Class A		1,720,332
		INTERNET MEDIA & SERVICES - 14.3%
	13,425	Expedia Group, Inc.		2,869,594
	7,225	Meta Platforms, Inc., Class A		5,305,896
	16,900	Reddit, Inc., Class A(a)		3,886,831
	32,660	Uber Technologies, Inc.(a)		3,199,700
	8,825	VeriSign, Inc.		2,467,205
				17,729,226
		OIL & GAS SERVICES & EQUIPMENT - 1.9%
	60,000	TechnipFMC plc		2,367,000
		SEMICONDUCTORS - 6.2%
	27,500	Taiwan Semiconductor Manufacturing Company Ltd. - ADR		7,680,475
		SOFTWARE - 6.9%
	7,275	Crowdstrike Holdings, Inc., Class A(a)		3,567,514
	17,075	Palantir Technologies, Inc., Class A(a)		3,114,822
	20,700	SS&C Technologies Holdings, Inc.		1,837,332
				8,519,668
		SPECIALTY FINANCE - 3.8%
	14,225	American Express Company		4,724,976

CATALYST DYNAMIC ALPHA FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

September 30, 2025

Shares			Fair Value
		COMMON STOCKS — 99.3% (Continued)
		TECHNOLOGY HARDWARE - 11.3%
	52,375	Corning, Inc.	$	4,296,321
	12,025	F5, Inc.(a)		3,886,360
	103,100	Flex Ltd.(a)		5,976,706
				14,159,387
		WHOLESALE - CONSUMER STAPLES - 2.3%
	37,375	US Foods Holding Corporation(a)		2,863,673
		TOTAL COMMON STOCKS (Cost $87,298,390)		123,258,263
Shares			Fair Value
		SHORT-TERM INVESTMENTS — 2.4%
		COLLATERAL FOR SECURITIES LOANED - 2.0%
	2,396,380	Mount Vernon Liquid Assets Portfolio, 4.22% (Cost $2,396,380)(c),(d)		2,396,380
		MONEY MARKET FUND - 0.4%
	548,260	First American Treasury Obligations Fund, Class X, 4.05% (Cost $548,260)(c)		548,260
		TOTAL SHORT-TERM INVESTMENTS (Cost $2,944,640)		2,944,640
		TOTAL INVESTMENTS - 101.7% (Cost $90,243,030)	$	126,202,903
		LIABILITIES IN EXCESS OF OTHER ASSETS - (1.7)%		(2,076,791	)
		NET ASSETS - 100.0%	$	124,126,112

ADR	- American Depositary Receipt
LTD	- Limited Company
PLC	- Public Limited Company

(a)	Non-income producing security.
(b)	All or a portion of this security is on loan. The total fair value of the securities on loan as of September 30, 2025 was $2,330,358.
(c)	Rate disclosed is the seven day effective yield as of September 30, 2025.
(d)	Security was purchased with cash received as collateral for securities on loan at September 30, 2025. Total collateral had a value of $2,396,380 at September 30, 2025.

CATALYST/CIFC SENIOR SECURED INCOME FUND

SCHEDULE OF INVESTMENTS (Unaudited)

September 30, 2025

Shares						Fair Value
		EXCHANGE-TRADED FUNDS — 5.0%
		FIXED INCOME - 5.0%
	901,688	Invesco Senior Loan ETF				$	18,872,330
	374,591	SPDR Blackstone Senior Loan ETF					15,575,494
							34,447,824
		TOTAL EXCHANGE-TRADED FUNDS (Cost $34,559,095)					34,447,824
Principal Amount ($)			Spread	Coupon Rate (%)	Maturity
		ASSET BACKED SECURITIES — 4.3%
		CLO — 4.3%
	2,000,000	Apidos CLO LI Ltd.  Series 2024-51A E(a),(b)	TSFR3M + 4.850%	9.1750	01/20/38		2,023,627
	1,500,000	Apidos Clo XL Ltd.  Series 2022-40A ER(a),(b)	TSFR3M + 5.600%	9.9180	07/15/37		1,502,597
	1,250,000	Apidos CLO XXXII  Series 2019-32A ER(a),(b)	TSFR3M + 5.500%	9.8250	01/20/33		1,249,906
	1,000,000	Benefit Street Partners CLO XVI Ltd.  Series 2018-16A ER2(a),(b)	TSFR3M + 4.900%	9.2220	01/17/38		994,502
	1,510,000	Benefit Street Partners CLO XXVIII Ltd.  Series 2022-28A ER(a),(b)	TSFR3M + 5.400%	9.7250	10/20/37		1,519,191
	500,000	BlueMountain CLO Ltd.  Series 2018-3A E(a),(b)	TSFR3M + 6.212%	10.5300	10/25/30		468,321
	500,000	BlueMountain CLO XXII Ltd.  Series 2018-22A E(a),(b)	TSFR3M + 5.312%	9.6290	07/15/31		455,122
	500,000	Carbone Clo Ltd.  Series 2017-1A D(a),(b)	TSFR3M + 6.162%	10.4870	01/20/31		498,207
	2,000,000	Carlyle Global Market Strategies CLO Ltd  Series 2014-2R(a),(b)	TSFR3M + 5.612%	9.8230	05/15/31		1,992,680
	1,000,000	Cook Park CLO Ltd.  Series 2018-1A E(a),(b)	TSFR3M + 5.662%	9.9840	04/17/30		993,303
	1,000,000	Dewolf Park CLO Ltd.  Series 2017-1A E(a),(b)	TSFR3M + 6.462%	10.7790	10/15/30		1,004,788
	750,000	Dryden 54 Senior Loan Fund  Series 2017-54A E(a),(b)	TSFR3M + 6.462%	10.7870	10/19/29		736,090
	500,000	Harbor Park CLO Ltd.  Series 2018-1A E(a),(b)	TSFR3M + 5.862%	10.1870	01/20/31		500,862
	500,000	Highbridge Loan Management Ltd.  Series 2013-2A DR(a),(b)	TSFR3M + 6.862%	11.1870	10/20/29		499,938
	2,000,000	KKR CLO 14 Ltd.  Series 14 ER(a),(b)	TSFR3M + 6.412%	10.7290	07/15/31		1,979,942
	1,500,000	Meacham Park Clo Ltd.  Series 2024-1A E(a),(b)	TSFR3M + 5.350%	9.6750	10/20/37		1,509,125
	500,000	Neuberger Berman Loan Advisers CLO 59 Ltd.  Series 2024-59A E(a),(b)	TSFR3M + 4.800%	9.1190	01/23/39		499,313
	500,000	Octagon Investment Partners 26 Ltd.  Series 2016-1A ER(a),(b)	TSFR3M + 5.662%	9.9790	07/15/30		475,843
	500,000	Octagon Investment Partners XVII Ltd.  Series 2013-1A ER2(a),(b)	TSFR3M + 5.412%	9.7300	01/25/31		487,018
	1,500,000	Octagon Investment Partners XXII Ltd.  Series 2014-1A ERR(a),(b)	TSFR3M + 5.712%	10.0440	01/22/30		1,460,261
	1,325,000	OHA Credit Funding 2 LTD  Series 2019-2A ER2(a),(b)	TSFR3M + 4.800%	9.1250	01/21/38		1,291,501
	750,000	OHA Credit Partners VII Ltd.  Series 2012-7A ER4(a),(b)	TSFR3M + 4.500%	8.7040	02/20/38		749,149
	2,000,000	Palmer Square CLO Ltd.  Series 2023-1A ER(a),(b)	TSFR3M + 4.900%	9.2250	01/20/38		2,013,895
	1,000,000	Rockford Tower CLO Ltd.  Series 2017-3A E(a),(b)	TSFR3M + 6.012%	10.3370	10/20/30		983,208
	1,000,000	Shackleton CLO Ltd.  Series 2013-4RA D(a),(b)	TSFR3M + 6.112%	10.4320	04/13/31		983,111

CATALYST/CIFC SENIOR SECURED INCOME FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

September 30, 2025

Principal Amount ($)			Spread	Coupon Rate (%)	Maturity	Fair Value
		ASSET BACKED SECURITIES — 4.3% (Continued)
		CLO — 4.3% (Continued)
	1,000,000	THL Credit Wind River Clo Ltd.  Series 2018-1A E(a),(b)	TSFR3M + 5.762%	10.0790	07/15/30	$	1,004,669
	500,000	Upland CLO Ltd.  Series 2016-1A DR(a),(b)	TSFR3M + 6.162%	10.4870	04/20/31		501,461
	1,000,000	VOYA CLO  Series 2017-2A D(a),(b)	TSFR3M + 6.282%	10.5990	06/07/30		999,950
	29,806	Wellfleet CLO Ltd.  Series 2015-1A ER3(a),(b)	TSFR3M + 7.312%	11.6370	07/20/29		16,393
							29,393,973
		TOTAL ASSET BACKED SECURITIES (Cost $29,383,034)					29,393,973
		CORPORATE BONDS — 4.7%
		ADVERTISING & MARKETING — 0.3%
	2,000,000	Outfront Media Capital, LLC / Outfront Media(a)		4.2500	01/15/29		1,922,548
		AEROSPACE & DEFENSE — 0.0%
	401,000	TransDigm, Inc.(a)		6.7500	01/31/34		414,895
		AUTOMOTIVE — 0.1%
	700,000	Nissan Motor Company Ltd.(a)		8.1250	07/17/35		751,905
		CHEMICALS — 0.3%
	2,500,000	Valvoline, Inc.(a)		3.6250	06/15/31		2,290,303
		COMMERCIAL SUPPORT SERVICES — –%(c)
	207,000	ADT Security Corporation (The)(a)		5.8750	10/15/33		—
		CONTAINERS & PACKAGING — 0.4%
	1,144,000	Clydesdale Acquisition Holdings, Inc.(a)		6.7500	04/15/32		1,174,344
	1,441,000	Graphic Packaging International, LLC(a)		3.5000	03/01/29		1,367,375
							2,541,719
		FOOD — 0.3%
	2,019,972	Chobani Holdco II, LLC(a)		8.7500	10/01/29		2,146,828
		HEALTH CARE FACILITIES & SERVICES — 0.3%
	1,090,000	LifePoint Health, Inc.(a)		11.0000	10/15/30		1,202,680

CATALYST/CIFC SENIOR SECURED INCOME FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

September 30, 2025

Principal Amount ($)			Coupon Rate (%)	Maturity	Fair Value
		CORPORATE BONDS — 4.7% (Continued)
		HEALTH CARE FACILITIES & SERVICES — 0.3% (Continued)
	910,000	LifePoint Health, Inc.(a)	8.3750	02/15/32	$	970,662
						2,173,342
		HOME & OFFICE PRODUCTS — 0.3%
	219,000	Scotts Miracle-Gro Company (The)	4.0000	04/01/31		202,771
	2,137,000	Scotts Miracle-Gro Company (The)	4.3750	02/01/32		1,976,100
						2,178,871
		HOME CONSTRUCTION — 0.2%
	1,174,000	APi Group DE, Inc.(a)	4.1250	07/15/29		1,135,575
		INDUSTRIAL INTERMEDIATE PROD — 0.3%
	2,000,000	Roller Bearing Company of America, Inc.(a)	4.3750	10/15/29		1,945,362
		INSURANCE — 0.5%
	1,350,000	Acrisure, LLC / Acrisure Finance, Inc.(a)	8.5000	06/15/29		1,418,275
	2,000,000	Acrisure, LLC / Acrisure Finance, Inc.(a)	6.7500	07/01/32		2,061,008
						3,479,283
		LEISURE FACILITIES & SERVICES — 0.1%
	418,000	Viking Cruises Ltd.(a)	5.8750	10/15/33		418,933
		OIL & GAS PRODUCERS — 0.4%
	301,000	Howard Midstream Energy Partners, LLC(a)	6.6250	01/15/34		306,951
	2,223,000	Venture Global Plaquemines LNG, LLC(a)	6.7500	01/15/36		2,362,613
						2,669,564
		OIL & GAS SERVICES & EQUIPMENT — 0.0%(c)
	207,000	Kodiak Gas Services, LLC(a)	6.5000	10/01/33		210,873
		RETAIL - DISCRETIONARY — 0.1%
	416,000	Park River Holdings, Inc.(a)	8.0000	03/15/31		421,942
		SPECIALTY FINANCE — 0.3%
	1,344,000	Azorra Finance Ltd.(a)	7.7500	04/15/30		1,417,069
	777,000	Azorra Finance Ltd.(a)	7.2500	01/15/31		810,988
						2,228,057

CATALYST/CIFC SENIOR SECURED INCOME FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

September 30, 2025

Principal Amount ($)				Coupon Rate (%)	Maturity	Fair Value
		CORPORATE BONDS — 4.7% (Continued)
		TECHNOLOGY SERVICES — 0.3%
	2,000,000	Amentum Escrow Corporation(a)		7.2500	08/01/32	$	2,078,194
		TRANSPORTATION & LOGISTICS — 0.5%
	2,000,000	Beacon Mobility Corporation(a)		7.2500	08/01/30		2,080,759
	1,400,000	JetBlue Airways Corp / JetBlue Loyalty, L.P.(a)		9.8750	09/20/31		1,422,133
							3,502,892
		TOTAL CORPORATE BONDS (Cost $31,904,145)					32,511,086
			Spread
		TERM LOANS — 84.3%
		ADVERTISING & MARKETING — 0.7%
	4,760,602	Endeavor Operating Company, LLC(b)	TSFR1M + 3.000%	7.3270	01/28/32		4,771,909
		AEROSPACE & DEFENSE — 0.7%
	493,229	Bleriot US Bidco, Inc.(b)	TSFR1M + 4.000%	6.7960	10/31/28		494,021
	2,019,131	Goat Holdco, LLC(b)	TSFR1M + 3.000%	7.1490	12/10/31		2,023,825
	142,600	Signia Aerospace, LLC(b)(e)	TSFR3M + 2.750%	3.0190	12/11/31		143,046
	2,269,820	Signia Aerospace, LLC(b)	TSFR3M + 2.750%	7.0760	12/11/31		2,276,913
							4,937,805
		APPAREL & TEXTILE PRODUCTS — 0.7%
	4,397,858	Beach Acquisition Bidco, LLC(b)	TSFR1M + 3.250%	7.5620	06/28/32		4,424,443
	699,532	Varsity Brands, Inc.(b)	TSFR1M + 3.000%	7.1360	08/26/31		700,493
							5,124,936
		ASSET MANAGEMENT — 6.8%
	1,545,200	Aragorn Parent Corporation(b)	TSFR1M + 3.500%	7.8270	12/15/28		1,555,955
	2,692,262	Edelman Financial Engines Center, LLC (The)(b)	TSFR1M + 3.000%	7.3250	04/07/28		2,697,189
	5,750,710	Edelman Financial Engines Center, LLC (The)(b)	TSFR1M + 5.250%	9.5750	10/23/28		5,770,464
	4,973,896	Focus Financial Partners, LLC(b)	TSFR1M + 2.750%	7.0770	09/15/31		4,980,710
	4,954,167	GC Ferry Acquisition I, Inc.(b)	TSFR1M + 3.500%	7.7110	06/07/32		4,912,601
	845,833	GC Ferry Acquisition I, Inc.(b)(e)	TSFR1M + 3.500%	7.8250	06/07/32		838,737
	1,539,013	Gryphon Debt Merger Sub, Inc.(b)	TSFR1M + 3.000%	7.3130	06/21/32		1,545,031
	3,000,000	GTCR Everest Borrower, LLC(b)	TSFR1M + 2.750%	6.8850	09/05/31		3,003,510
	262,495	June Purchaser, LLC(b)(e)	TSFR1M + 3.250%	3.2500	09/11/31		263,588

CATALYST/CIFC SENIOR SECURED INCOME FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

September 30, 2025

Principal Amount ($)			Spread	Coupon Rate (%)	Maturity	Fair Value
		TERM LOANS — 84.3% (Continued)
		ASSET MANAGEMENT — 6.8% (Continued)
	1,571,030	June Purchaser, LLC(b)	TSFR1M + 3.250%	7.3830	09/11/31	$	1,577,574
	2,537,679	Nexus Buyer, LLC(b)	TSFR1M + 3.500%	7.8270	07/31/31		2,534,570
	2,329,134	Nexus Buyer, LLC(b)	TSFR1M + 4.000%	8.2550	07/31/31		2,332,058
	6,855,422	Osaic Holdings, Inc.(b)	TSFR1M + 3.000%	7.3160	07/19/32		6,859,328
	1,715,702	Russell Investments US Institutional Holdco, Inc.(b)	TSFR3M + 5.000%	9.1850	05/28/27		1,651,672
	6,404,019	Sophos Intermediate II Ltd.(b)	TSFR1M + 3.610%	7.9360	03/05/27		6,420,445
	151,000	Virtus Investment Partners, Inc.(b)	TSFR1M + 2.250%	6.5050	09/17/32		151,189
							47,094,621
		AUTOMOTIVE — 0.9%
	4,725,000	Tenneco, Inc.(b)	TSFR1M + 4.750%	9.1220	11/17/28		4,630,997
	1,685,000	Tenneco, Inc.(b)	TSFR1M + 5.000%	9.3500	11/17/28		1,654,063
							6,285,060
		BIOTECH & PHARMA — 0.9%
	3,913,942	Amneal Pharmaceuticals, LLC(b)	TSFR1M + 3.500%	7.8160	07/26/32		3,917,190
	2,202,613	Curium Bidco Sarl(b)	TSFR1M + 3.000%	7.2960	08/07/31		2,206,281
							6,123,471
		CABLE & SATELLITE — 0.7%
	935,144	Cogeco Communications USA II, L.P.(b)	TSFR1M + 3.250%	7.5770	09/18/30		934,854
	935,144	COGECO Financing 2, L.P.(b)	TSFR1M + 2.615%	6.7880	09/01/28		927,714
	1,173,724	Virgin Media Bristol, LLC(b)	TSFR1M + 3.250%	7.3730	03/06/31		1,159,053
	1,815,744	WideOpenWest Finance, LLC(b)	TSFR1M + 7.262%	11.5820	12/11/28		1,859,722
							4,881,343
		CHEMICALS — 1.2%
	1,744,863	Discovery Purchaser Corporation(b)	TSFR1M + 3.750%	8.0820	10/04/29		1,739,053
	2,129,229	Nouryon Finance BV(b)	TSFR3M + 3.250%	7.5000	04/03/28		2,135,446
	3,000,000	Olympus Water US Holding Corporation(b)	TSFR1M + 3.250%	7.3930	07/26/32		2,982,870
	1,035,929	Windsor Holdings III, LLC(b)	TSFR1M + 2.750%	7.0750	08/01/30		1,038,089
							7,895,458
		COMMERCIAL SUPPORT SERVICES — 6.3%
	1,306,332	Action Environmental Group, Inc. (The)(b)	TSFR1M + 4.500%	7.5460	10/05/30		1,307,964
	4,300,000	Allied Universal Holdco, LLC(b)	TSFR1M + 3.250%	7.6060	08/06/32		4,321,027
	5,665,754	Amspec Parent, LLC(b)	TSFR1M + 3.500%	7.7960	12/22/31		5,703,828
	871,654	Amspec Parent, LLC(b)(e)	TSFR1M + 3.500%	7.8180	12/22/31		877,512
	1,000,000	Bifm CA Buyer, Inc.(b)	TSFR1M + 3.250%	7.8860	05/31/28		1,004,375

CATALYST/CIFC SENIOR SECURED INCOME FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

September 30, 2025

Principal Amount ($)			Spread	Coupon Rate (%)	Maturity	Fair Value
		TERM LOANS — 84.3% (Continued)
		COMMERCIAL SUPPORT SERVICES — 6.3% (Continued)
	4,392,335	CHG Healthcare Services, Inc.(b)	TSFR3M + 2.750%	7.0460	09/29/28	$	4,398,396
	3,979,376	Conservice Midco, LLC(b)	TSFR1M + 2.750%	7.0660	05/13/30		3,995,115
	1,571,543	Ensemble RCM, LLC(b)	TSFR1M + 3.000%	7.3080	08/03/29		1,577,704
	728,145	First Advantage Holdings, LLC(b)	TSFR1M + 2.750%	6.9050	10/31/31		712,446
	5,087,218	Garda World Security Corporation(b)	TSFR1M + 3.000%	7.1740	02/01/29		5,099,936
	1,033,519	Grant Thornton Advisors Holdings, LLC(b)	TSFR1M + 2.750%	6.8160	05/30/31		1,028,564
	266,635	Raven Acquisition Holdings, LLC(b)(e)	TSFR1M + 1.000%	3.2500	10/24/31		266,849
	3,723,554	Raven Acquisition Holdings, LLC(b)	TSFR1M + 3.250%	7.3160	10/24/31		3,726,551
	1,175,861	Ryan, LLC(b)	TSFR1M + 4.500%	7.8270	11/09/30		1,179,648
	1,850,000	Wash Bidco, Inc.(b)	TSFR1M + 3.250%	7.6030	08/09/32		1,859,629
	6,500,000	WestJet Loyalty, L.P.(b)	TSFR1M + 3.850%	7.5490	02/01/31		6,515,698
							43,575,242
		CONSUMER DISCRETIONARY — 0.1%
	734,000	Peer USA, LLC(b)	TSFR1M + 2.250%	6.3850	09/27/32		735,607
		CONSUMER PRODUCTS — 0.0%(c)
	164,000	ACP Tara Holdings, Inc.(b)	TSFR1M + 3.250%	7.5000	09/17/32		164,410
		CONSUMER SERVICES — 3.0%
	5,251,241	Fugue Finance, LLC(b)	TSFR1M + 2.750%	6.9490	01/09/32		5,269,542
	3,206,453	KUEHG Corporation(b)	TSFR3M + 2.750%	7.0410	06/12/30		3,208,120
	4,092,687	Lernen US Finco, LLC(b)	TSFR1M + 3.500%	7.8700	10/27/31		4,114,010
	2,425,228	Opal, LLC(b)	TSFR1M + 3.250%	7.4350	03/31/32		2,434,625
	1,352,692	Prometric Holdings, Inc.(b)	TSFR1M + 3.750%	8.0660	06/18/32		1,360,978
	3,978,863	University Support Services, LLC(b)	US1M + 3.350%	7.0660	06/29/28		3,924,571
							20,311,846
		CONTAINERS & PACKAGING — 0.3%
	1,956,674	Clydesdale Acquisition Holdings, Inc.(b)	TSFR1M + 3.250%	7.5660	03/29/32		1,955,871
	34,208	Clydesdale Acquisition Holdings, Inc.(b)(e)	TSFR1M + 3.250%	7.5660	03/29/32		34,194
	263,000	Owens-Brockway Glass Container, Inc.(b)	TSFR1M + 3.000%	7.1500	09/27/32		262,836
							2,252,901
		ELECTRIC UTILITIES — 0.2%
	1,320,572	Edgewater Generation, LLC(b)	TSFR1M + 3.250%	7.3220	08/01/30		1,325,418

CATALYST/CIFC SENIOR SECURED INCOME FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

September 30, 2025

Principal Amount ($)			Spread	Coupon Rate (%)	Maturity	Fair Value
		TERM LOANS — 84.3% (Continued)
		ELECTRICAL EQUIPMENT — 0.3%
	1,687,500	Vantage Elevator Solutions(b)	TSFR1M + 3.860%	8.1910	11/10/28	$	1,695,187
		ENGINEERING & CONSTRUCTION — 0.3%
	1,264,900	Chromalloy Corporation(b)	TSFR1M + 3.750%	7.5420	03/24/31		1,269,954
	548,000	Green Infrastructure Partners, Inc.(b)	TSFR1M + 2.750%	6.9420	09/18/32		549,200
							1,819,154
		ENTERTAINMENT CONTENT — 0.1%
	642,544	AP Core Holdings II, LLC(b)	TSFR1M + 5.500%	9.9300	09/01/27		627,081
	282,856	AP Core Holdings II, LLC(b)	TSFR1M + 5.500%	9.9390	09/01/27		275,815
							902,896
		FOOD — 1.0%
	1,343,213	Froneri US, Inc.(b)	TSFR1M + 2.000%	6.1970	09/18/31		1,335,100
	1,151,000	Froneri US, Inc.(b)	TSFR1M + 2.500%	6.8250	07/16/32		1,149,947
	1,244,203	Nomad Foods US, LLC(b)	TSFR1M + 3.000%	6.5350	11/08/29		1,247,164
	3,345,574	Nourish Buyer I, Inc.(b)	TSFR1M + 4.500%	8.8380	07/08/32		3,353,938
							7,086,149
		HEALTH CARE FACILITIES & SERVICES — 8.0%
	244,885	ADMI Corporation(b)	TSFR1M + 3.375%	7.8140	12/23/27		231,824
	5,072,380	Bella Holding Company, LLC(b)	TSFR1M + 3.250%	7.3270	05/10/28		5,086,100
	364,000	Boots Group Finco, L.P.(b)	TSFR1M + 3.500%	7.7050	07/19/32		365,440
	390,000	Global Medical Response, Inc.(b)	TSFR1M + 3.500%	7.7800	10/02/28		390,558
	354,146	Hanger, Inc.(b)(e)	TSFR1M + 1.000%	7.8160	10/16/31		355,341
	2,744,687	Hanger, Inc.(b)	TSFR1M + 3.500%	7.8270	10/16/31		2,753,950
	5,789,298	Heartland Dental, LLC(b)	TSFR1M + 3.750%	8.0660	08/07/32		5,786,433
	8,150,748	LifePoint Health, Inc.(b)	TSFR1M + 3.750%	8.0680	05/14/31		8,146,103
	1,332,721	LifePoint Health, Inc.(b)	TSFR1M + 3.500%	7.6600	05/19/31		1,328,457
	4,031,889	MED ParentCo, L.P.(b)	TSFR1M + 3.250%	7.5770	04/15/31		4,044,771
	161,491	National Mentor Holdings, Inc.(b)	US1M + 3.850%	8.1490	02/18/28		161,108
	5,573,159	National Mentor Holdings, Inc.(b)	US1M + 3.750%	8.1620	02/18/28		5,559,922
	1,893,629	National Mentor Holdings, Inc.(b)	US1M + 7.250%	11.6490	02/18/29		1,884,947
	1,348,192	Onex TSG Intermediate Corporation(b)	TSFR1M + 3.750%	8.0050	07/24/32		1,357,103
	2,471,720	Outcomes Group Holdings, Inc.(b)	TSFR1M + 3.000%	7.3160	05/06/31		2,488,491
	1,389,874	Precision Medicine Group, LLC(b)	TSFR3M + 3.500%	7.7040	08/16/32		1,386,114
	2,014,694	Southern Veterinary Partners, LLC(b)	TSFR3M + 2.500%	6.8180	12/04/31		2,013,233

CATALYST/CIFC SENIOR SECURED INCOME FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

September 30, 2025

Principal Amount ($)			Spread	Coupon Rate (%)	Maturity	Fair Value
		TERM LOANS — 84.3% (Continued)
		HEALTH CARE FACILITIES & SERVICES — 8.0% (Continued)
	7,416,203	Star Parent, Inc.(b)	TSFR1M + 4.000%	8.2990	09/19/30	$	7,425,474
	4,101,614	Team Health Holdings, Inc.(b)	TSFR1M + 4.500%	8.7960	06/30/28		4,099,050
							54,864,419
		HOME & OFFICE PRODUCTS — 2.6%
	7,659,303	AI Aqua Merger Sub, Inc.(b)	TSFR1M + 3.000%	7.2800	07/31/28		7,683,085
	8,604,724	Weber-Stephen Products, LLC(b)	US1M + 3.365%	7.6890	10/20/27		8,540,188
	667,155	Weber-Stephen Products, LLC(b)	TSFR1M + 4.350%	8.6750	10/29/27		668,323
	854,000	Weber-Stephen Products, LLC(b)	TSFR1M + 3.750%	7.9730	09/17/32		846,263
							17,737,859
		HOME CONSTRUCTION — 0.1%
	1,003,666	Chariot Buyer, LLC(b)	TSFR1M + 3.000%	7.3430	07/23/32		1,005,864
		INSTITUTIONAL FINANCIAL SERVICES — 3.5%
	6,782,957	Aretec Group, Inc.(b)	TSFR1M + 3.500%	7.8250	08/09/30		6,790,351
	5,292,886	Armor Holdco, Inc.(b)	TSFR1M + 3.750%	7.9160	12/11/28		5,302,149
	8,693,685	Ascensus Holdings, Inc.(b)	TSFR1M + 3.000%	7.3270	08/02/28		8,697,293
	3,000,000	Hudson River Trading, LLC(b)	TSFR1M + 3.000%	7.1500	03/20/30		3,008,310
	236,408	Summit Acquisition, Inc.(b)	TSFR1M + 3.500%	7.8430	10/16/31		238,082
	118,000	VFH Parent, LLC(b)	TSFR1M + 2.500%	6.8100	06/20/31		118,295
							24,154,480
		INSURANCE — 8.1%
	4,024,681	Acrisure, LLC(b)	TSFR1M + 3.000%	7.3250	11/06/30		4,022,809
	1,748,000	Acrisure, LLC(b)	TSFR1M + 3.250%	7.5740	06/07/32		1,749,460
	4,973,996	Alera Group Intermediate Holdings, Inc.(b)	TSFR1M + 3.250%	7.5750	05/21/32		4,998,145
	2,300,847	Alliant Holdings Intermediate, LLC(b)	TSFR1M + 2.500%	6.8230	09/19/31		2,296,993
	2,411,000	Asurion, LLC(b)	TSFR1M + 5.250%	9.6910	01/29/28		2,353,739
	1,779,907	Asurion, LLC(b)	TSFR1M + 4.000%	8.4250	08/17/28		1,785,593
	900,000	Asurion, LLC(b)	TSFR1M + 5.250%	9.6910	01/14/29		863,564
	1,496,241	Baldwin Insurance Group Holdings, LLC (The)(b)	TSFR1M + 2.500%	6.7360	05/27/31		1,499,360
	9,874,580	BroadStreet Partners, Inc.(b)	TSFR1M + 3.250%	7.0660	05/12/31		9,894,921
	4,172,571	Howden Group Holdings Ltd.(b)	TSFR1M + 3.500%	7.8270	04/18/30		4,173,864
	2,705,143	Hyperion Refinance Sarl(b)	TSFR1M + 2.750%	7.0660	02/18/31		2,708,335
	8,393,393	IMA Financial Group, Inc. (The)(b)	TSFR1M + 3.850%	7.3160	11/01/28		8,409,886
	2,596,790	OneDigital Borrower, LLC(b)	TSFR1M + 3.000%	7.3250	07/02/31		2,600,088

CATALYST/CIFC SENIOR SECURED INCOME FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

September 30, 2025

Principal Amount ($)			Spread	Coupon Rate (%)	Maturity	Fair Value
		TERM LOANS — 84.3% (Continued)
		INSURANCE — 8.1% (Continued)
	1,507,984	OneDigital Borrower, LLC(b)	TSFR1M + 5.250%	9.5750	06/14/32	$	1,524,006
	2,147,487	PCF Insurance Services of the West, LLC(b)	TSFR1M + 3.250%	7.5660	06/14/32		2,155,540
	3,282,124	Sedgwick Claims Management Services, Inc.(b)	TSFR1M + 3.750%	6.8270	02/17/28		3,281,615
	1,200,000	TIH Insurance Holdings, LLC(b)	TSFR3M + 2.750%	7.0490	05/06/31		1,201,878
							55,519,796
		INTERNET MEDIA & SERVICES — 1.6%
	881,178	Endurance International Group Holdings, Inc.(b)	US6M + 3.500%	7.8380	02/10/28		638,854
	1,595,980	Knot Worldwide, Inc. (The)(b)	TSFR1M + 3.750%	8.0750	01/31/28		1,598,972
	1,370,242	MH Sub I, LLC(b)	TSFR1M + 4.250%	8.5750	05/03/28		1,321,427
	1,487,697	MH Sub I, LLC(b)	TSFR1M + 6.250%	10.5750	02/23/29		1,299,525
	1,391,853	MH Sub I, LLC(b)	TSFR1M + 4.250%	8.5740	12/11/31		1,283,985
	2,363,912	Pug, LLC(b)	TSFR1M + 4.750%	9.0770	03/12/30		2,349,137
	2,720,546	team.blue Finco S.A.RL(b)	TSFR1M + 3.250%	7.5990	07/02/32		2,723,961
							11,215,861
		LEISURE FACILITIES & SERVICES — 0.7%
	1,604,075	Tortuga Resorts Ghd, LLC(b)	TSFR1M + 3.250%	7.6010	08/13/32		1,607,091
	2,846,956	Voyager Parent, LLC(b)	TSFR1M + 4.750%	9.0410	05/10/32		2,856,223
							4,463,314
		MEDICAL EQUIPMENT & DEVICES — 2.0%
	1,732,457	Archimedes Debt Merger Sub, LLC(b)	TSFR1M + 4.000%	8.2910	05/17/32		1,715,132
	4,250,000	Bausch + Lomb Corporation(b)	TSFR1M + 4.000%	8.3290	09/14/28		4,255,312
	3,228,477	Bausch + Lomb Corporation(b)	TSFR1M + 4.250%	8.5660	12/18/30		3,234,531
	4,500,000	Medline Borrower, L.P.(b)	TSFR1M + 2.000%	6.1350	10/23/28		4,504,477
	233,000	Performance Health Holdings, Inc.(b)	TSFR1M + 3.750%	7.9500	02/27/32		228,923
							13,938,375
		OIL & GAS PRODUCERS — 1.1%
	1,906,639	EG America, LLC(b)	TSFR3M + 3.500%	7.6990	02/07/28		1,920,081
	1,495,378	Prairie Acquiror, L.P.(b)	TSFR1M + 3.750%	8.0660	08/01/29		1,509,240
	2,504,881	RelaDyne, Inc.(b)	SOFRRATE + 4.250%	7.8160	12/23/28		2,514,274
	1,880,809	Rockpoint Gas Storage Partners, L.P.(b)	TSFR3M + 3.000%	7.2990	09/18/31		1,889,546
							7,833,141
		PUBLISHING & BROADCASTING — 1.6%
	6,401,944	Cengage Learning, Inc.(b)	TSFR6M + 3.500%	7.7600	03/24/31		6,393,269

CATALYST/CIFC SENIOR SECURED INCOME FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

September 30, 2025

Principal Amount ($)			Spread	Coupon Rate (%)	Maturity	Fair Value
		TERM LOANS — 84.3% (Continued)
		PUBLISHING & BROADCASTING — 1.6% (Continued)
	3,255,436	Houghton Mifflin Harcourt Company(b)	TSFR1M + 5.350%	9.6660	04/09/29	$	2,925,595
	1,759,193	McGraw-Hill Education, Inc.(b)	TSFR1M + 2.750%	6.9730	08/06/31		1,761,805
							11,080,669
		RENEWABLE ENERGY — 1.2%
	8,104,355	Granite Acquisition, Inc.(b)	US1M + 2.865%	7.1890	03/17/28		8,109,461
		RETAIL - CONSUMER STAPLES — 0.2%
	1,804,098	Heritage Grocers Group, LLC(b)	TSFR3M + 6.850%	11.1460	08/01/29		1,543,758
		RETAIL - DISCRETIONARY — 2.3%
	264,000	Evergreen Acqco 1, L.P.(b)	TSFR3M + 3.000%	7.1710	09/13/32		264,550
	992,462	Foundation Building Materials, Inc.(b)	TSFR1M + 4.000%	8.3240	01/27/31		995,395
	6,209,399	Great Outdoors Group, LLC(b)	TSFR1M + 3.250%	7.4130	01/16/32		6,214,057
	261,000	LBM Acquisition, LLC(b)	TSFR1M + 5.000%	9.3520	06/06/31		260,534
	5,985,000	Mavis Tire Express Services Topco Corporation(b)	TSFR1M + 3.000%	7.1990	05/04/28		5,991,224
	1,935,544	Petco Health & Wellness Company, Inc.(b)	TSFR3M + 3.350%	7.8110	02/25/28		1,889,671
	436,000	PetSmart, LLC(b)	TSFR1M + 4.000%	8.3510	08/09/32		430,007
							16,045,438
		SEMICONDUCTORS — 0.2%
	1,500,000	Icon Parent, Inc.(b)	TSFR1M + 5.000%	9.2050	09/13/32		1,522,268
		SOFTWARE — 16.1%
	1,798,439	athenahealth, Inc.(b)	SOFRRATE + 3.500%	7.0770	01/27/29		1,797,126
	4,692,300	Avalara, Inc.(b)	TSFR1M + 3.250%	7.5530	03/29/32		4,699,456
	4,863,028	Azalea Topco, Inc.(b)	TSFR1M + 3.000%	7.3160	04/30/31		4,855,442
	5,765,320	BMC Software, Inc.(b)	TSFR1M + 3.000%	7.1990	07/30/31		5,762,611
	1,121,494	Boxer Parent Company, Inc.(b)	TSFR1M + 5.750%	9.9490	07/06/32		1,095,212
	1,698,444	Bracket Intermediate Holding Corporation(b)	TSFR3M + 4.250%	8.5490	05/08/28		1,710,418
	5,106,651	Central Parent, Inc.(b)	TSFR1M + 3.250%	7.5490	07/06/29		4,430,250
	5,427,177	Cloud Software Group, Inc.(b)	TSFR3M + 3.250%	7.4830	03/24/31		5,453,825
	3,015,000	Cloud Software Group, Inc.(b)	TSFR3M + 3.250%	7.4830	08/09/32		3,027,678
	3,585,842	Clover Holdings 2, LLC(b)	TSFR1M + 4.000%	7.9420	11/03/31		3,593,695
	6,777,143	ConnectWise, LLC(b)	US1M + 3.762%	8.0610	09/24/28		6,798,322

CATALYST/CIFC SENIOR SECURED INCOME FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

September 30, 2025

Principal Amount ($)			Spread	Coupon Rate (%)	Maturity	Fair Value
		TERM LOANS — 84.3% (Continued)
		SOFTWARE — 16.1% (Continued)
	7,253,962	Cotiviti, Inc.(b)	TSFR1M + 3.250%	7.0300	02/24/31	$	7,139,095
	801,906	DS Admiral Bidco, LLC(b)	TSFR1M + 4.250%	8.5490	06/05/31		802,572
	114,000	Entrata, Inc.(b)	TSFR1M + 3.000%	0.0000	09/20/32		114,428
	8,165,972	Envestnet, Inc.(b)	TSFR1M + 3.500%	7.3160	09/19/31		8,190,020
	1,500,000	Genesys Cloud Services Holdings II, LLC(b)	TSFR1M + 2.500%	6.8250	01/26/32		1,492,343
	2,894,567	Idera, Inc.(b)	TSFR1M + 3.500%	7.7910	03/02/28		2,547,219
	615,000	Jaggaer, LLC(b)	TSFR1M + 5.250%	9.1990	10/08/32		615,384
	5,259,696	McAfee Corporation(b)	TSFR1M + 3.000%	7.2230	03/01/29		5,039,446
	3,923,085	Mitchell International, Inc.(b)	TSFR1M + 3.250%	7.5750	06/06/31		3,923,929
	2,311,391	Mitchell International, Inc.(b)	TSFR1M + 5.250%	9.5740	06/07/32		2,295,789
	3,097,906	Modena Buyer, LLC(b)	TSFR1M + 4.500%	8.8080	04/21/31		3,063,612
	2,666,270	PointClickCare Technologies, Inc.(b)	US1M + 2.750%	7.0920	11/03/31		2,672,429
	3,405,780	Project Alpha Intermediate Holding, Inc.(b)	TSFR1M + 3.250%	7.5490	10/28/30		3,419,130
	1,235,398	Project Sky Merger Sub, Inc.(b)	TSFR1M + 6.000%	10.4250	08/10/29		1,133,477
	3,331,170	Proofpoint, Inc.(b)	TSFR1M + 3.000%	7.3270	08/31/28		3,348,392
	1,399,880	RealPage, Inc.(b)	TSFR1M + 3.250%	7.5610	02/18/28		1,398,018
	1,747,087	RealPage, Inc.(b)	TSFR1M + 3.750%	8.0490	04/24/28		1,754,844
	1,092,000	Red Planet Borrower, LLC(b)	TSFR1M + 4.000%	8.2230	08/09/32		1,064,700
	3,446,641	Rocket Software, Inc.(b)	TSFR1M + 4.750%	8.0660	11/28/28		3,458,136
	2,162,120	Starlight Parent, LLC(b)	TSFR1M + 4.000%	8.3600	03/15/32		2,126,985
	4,504,625	Storable, Inc.(b)	TSFR1M + 3.250%	7.5770	04/17/31		4,525,278
	1,072,971	Zelis Payments Buyer, Inc.(b)	TSFR1M + 2.750%	7.0750	09/28/29		1,071,742
	5,078,264	Zelis Payments Buyer, Inc.(b)	TSFR1M + 3.250%	7.5750	10/27/31		5,084,612
	1,375,624	Zuora, Inc.(b)	TSFR1M + 3.500%	7.8160	12/15/31		1,368,574
							110,874,189
		SPECIALTY FINANCE — 2.5%
	6,700,000	Apex Group Treasury, LLC(b)	TSFR1M + 3.500%	7.7550	02/20/32		6,566,001
	4,326,511	CFC USA 2025, LLC(b)	TSFR1M + 3.750%	8.0410	05/31/32		4,142,635
	308,000	IMC Global Holdings, LLC(b)	TSFR1M + 3.500%	7.8600	06/02/32		311,080
	3,286,805	Kestra Advisor Services Holdings A, Inc.(b)	TSFR1M + 3.000%	7.3160	03/24/31		3,291,422
	2,605,622	Orion US Finco(b)	TSFR1M + 3.500%	7.8330	05/20/32		2,621,907
							16,933,045
		TECHNOLOGY HARDWARE — 0.9%
	3,961,913	Bingo Holdings I, LLC(b)	TSFR1M + 4.750%	9.0460	06/14/32		3,968,113

CATALYST/CIFC SENIOR SECURED INCOME FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

September 30, 2025

Principal Amount ($)			Spread	Coupon Rate (%)	Maturity	Fair Value
		TERM LOANS — 84.3% (Continued)
		TECHNOLOGY HARDWARE — 0.9% (Continued)
	1,875,302	Pitney Bowes, Inc.(b)	TSFR1M + 3.750%	8.0750	02/02/32	$	1,878,425
							5,846,538
		TECHNOLOGY SERVICES — 3.7%
	5,971,665	Access CIG, LLC(b)	TSFR1M + 4.000%	8.1750	08/19/30		5,996,984
	2,254,439	Blackhawk Network Holdings, Inc.(b)	TSFR1M + 4.000%	8.3250	03/12/29		2,265,892
	950,000	CoreLogic, Inc.(b)	TSFR1M + 3.615%	7.9300	06/02/28		951,781
	181,000	Disco Parent, Inc.(b)	TSFR1M + 3.250%	7.4840	08/01/32		181,905
	997,423	Escape Velocity Holdings, Inc.(b)	US1M + 4.512%	8.8400	10/06/28		1,000,435
	3,553,259	Fortress Intermediate 3, Inc.(b)	TSFR1M + 3.000%	7.2550	06/27/31		3,575,467
	1,033,000	ION Platform Finance US, Inc.(b)	TSFR1M + 3.750%	0.0000	09/30/32		—
	1,503,870	ION Trading Technologies Sarl(b)	TSFR3M + 3.500%	7.7990	04/03/28		1,505,517
	5,528,055	Kaseya, Inc.(b)	TSFR1M + 3.250%	7.5720	03/08/32		5,542,511
	2,858,830	Neon Maple US Debt Mergersub, Inc.(b)	TSFR1M + 2.750%	7.0660	11/17/31		2,862,532
	1,720,828	Neptune Bidco US, Inc.(b)	TSFR3M + 4.850%	9.1790	10/11/28		1,641,239
							25,524,263
		TELECOMMUNICATIONS — 0.9%
	3,107,901	Crown Subsea Communications Holding, Inc.(b)	TSFR1M + 3.500%	7.8180	01/30/31		3,131,598
	3,045,892	QualityTech, L.P.(b)	US1M + 3.500%	7.7230	11/04/31		3,053,507
							6,185,105
		TRANSPORTATION & LOGISTICS — 2.0%
	275,310	AAdvantage Loyalty IP Ltd.(b)	TSFR1M + 3.250%	7.5800	05/28/32		276,859
	398,436	Beacon Mobility Corporation(b)(e)	TSFR1M + 3.250%	7.4690	06/17/30		400,305
	2,908,586	Beacon Mobility Corporation(b)	TSFR1M + 3.250%	7.5050	06/17/30		2,922,228
	6,115,571	JetBlue Airways Corporation(b)	TSFR1M + 5.500%	9.0710	08/13/29		5,884,708
	1,068,908	Kenan Advantage Group, Inc. (The)(b)	TSFR1M + 3.250%	7.5750	01/25/29		1,057,214
	995,006	Radar Bidco Sarl(b)	TSFR3M + 3.250%	7.5580	04/25/31		1,001,225
	2,344,629	Savage Enterprises, LLC(b)	TSFR1M + 2.500%	6.7500	08/04/32		2,349,447
							13,891,986
		WHOLESALE - CONSUMER STAPLES — 0.8%
	5,329,859	Golden State Foods Corporation(b)	TSFR1M + 4.250%	8.2260	10/07/31		5,349,659
		TOTAL TERM LOANS (Cost $581,791,891)					580,622,901

CATALYST/CIFC SENIOR SECURED INCOME FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

September 30, 2025

Shares			Fair Value
		SHORT-TERM INVESTMENTS — 6.5%
		MONEY MARKET FUNDS - 6.5%
	44,790,290	First American Treasury Obligations Fund, Class X, 4.02% (Cost $44,790,290)(d)	$	44,790,290
		TOTAL INVESTMENTS - 104.8% (Cost $722,428,455)	$	721,766,074
		LIABILITIES IN EXCESS OF OTHER ASSETS - (4.8)%		(33,218,200	)
		NET ASSETS - 100.0%	$	688,547,874

BV	- Besloten Vennootschap
CLO	- Collateralized Loan Obligation
ETF	- Exchange-Traded Fund
LLC	- Limited Liability Company
LP	- Limited Partnership
LTD	- Limited Company
SPDR	- Standard & Poor’s Depositary Receipt
SOFRRATE	United States SOFR Secured Overnight Financing Rate
TSFR1M	Secured Overnight Financing Rate 1 Month
TSFR3M	Secured Overnight Financing Rate 3 Month
TSFR6M	Secured Overnight Financing Rate 6 Month

(a)	Security exempt from registration under Rule 144A or Section 4(2) of the Securities Act of 1933. The security may be resold in transactions exempt from registration, normally to qualified institutional buyers.  As of September 30, 2025 the total market value of 144A securities is 59,726,188 or 8.7% of net assets.
(b)	Variable rate security; the rate shown represents the rate on September 30, 2025.
(c)	Percentage rounds to less than 0.1%.
(d)	Rate disclosed is the seven day effective yield as of September 30, 2025.
(e)	This investment or portion thereof was not funded as of September 30, 2025. The Fund had $2,359,831 at par value in unfunded commitments as of September 30, 2025.

CATALYST/SMH HIGH INCOME FUND

SCHEDULE OF INVESTMENTS (Unaudited)

September 30, 2025

Shares					Fair Value
		EXCHANGE-TRADED FUNDS — 10.4%
		FIXED INCOME - 10.4%
	132,000	SPDR Portfolio High Yield Bond ETF(a)			$	3,160,080
		TOTAL EXCHANGE-TRADED FUNDS (Cost $3,153,558)
			Coupon Rate (%)
		PREFERRED STOCKS — 0.0%(b)
		LEISURE FACILITIES & SERVICES — 0.0%(b)
	2,988	FAT Brands, Inc.	8.2500			7,111
		TOTAL PREFERRED STOCKS (Cost $70,248)
Principal Amount ($)				Maturity
		CONVERTIBLE BONDS — 27.4%
		ASSET MANAGEMENT — 2.9%
	887,000	Capital Southwest Corporation	5.1250	11/15/29		878,130
		ENGINEERING & CONSTRUCTION — 1.0%
	200,000	Granite Construction, Inc.	3.2500	06/15/30		306,900
		INTERNET MEDIA & SERVICES — 0.9%
	200,000	Lyft, Inc.	0.6250	03/01/29		258,750
		MEDICAL EQUIPMENT & DEVICES — 1.1%
	200,000	Alphatec Holdings, Inc.(c)	0.7500	03/15/30		238,833
	100,000	Exact Sciences Corporation(c)	2.0000	03/01/30		104,213
						343,046
		METALS & MINING — 0.5%
	100,000	Centrus Energy Corporation(c),(d)	0.0000	08/15/32		154,625
		REAL ESTATE INVESTMENT TRUSTS — 0.8%
	200,000	HAT Holdings I, LLC / HAT Holdings II, LLC(c)	3.7500	08/15/28		250,400

CATALYST/SMH HIGH INCOME FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

September 30, 2025

Principal Amount ($)			Coupon Rate (%)	Maturity	Fair Value
		CONVERTIBLE BONDS — 27.4% (Continued)
		RENEWABLE ENERGY — 0.8%
	200,000	Array Technologies, Inc.(c)	2.8750	07/01/31	$	255,300
		RETAIL - CONSUMER STAPLES — 1.1%
	300,000	Hims & Hers Health, Inc.(c),(d)	0.0000	05/15/30		338,250
		RETAIL - DISCRETIONARY — 0.8%
	200,000	GameStop Corporation(c),(d)	0.0000	06/15/32		228,900
		SOFTWARE — 7.8%
	200,000	BigBear.ai Holdings, Inc.(c)	6.0000	12/15/29		406,766
	200,000	BlackLine, Inc.	1.0000	06/01/29		208,182
	100,000	DigitalOcean Holdings, Inc.(c),(d)	0.0000	08/15/30		111,688
	200,000	Nebius Group N.V.(c)	3.0000	06/05/31		464,850
	800,000	Nebius Group N.V.(c)	2.7500	09/15/32		932,001
	200,000	Nutanix, Inc.(c)	0.5000	12/15/29		225,640
						2,349,127
		SPECIALTY FINANCE — 2.4%
	400,000	EZCORP, Inc.(c)	3.7500	12/15/29		732,400
		TECHNOLOGY SERVICES — 7.3%
	550,000	Cleanspark, Inc.(c),(d)	0.0000	06/15/30		684,946
	200,000	Euronet Worldwide, Inc.(c)	0.6250	10/01/30		191,000
	500,000	MARA Holdings, Inc.(c),(d)	0.0000	06/01/31		475,791
	550,000	Riot Platforms, Inc.(c)	0.7500	01/15/30		842,466
						2,194,203
		TOTAL CONVERTIBLE BONDS (Cost $7,181,799)				8,290,031
Principal Amount ($)			Coupon Rate (%)	Maturity	Fair Value
		CORPORATE BONDS — 58.4%
		ASSET MANAGEMENT — 4.2%
	1,250,000	Icahn Enterprises, L.P. / Icahn Enterprises Finance Corporation(c)	10.0000	11/15/29		1,260,403

CATALYST/SMH HIGH INCOME FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

September 30, 2025

Principal Amount ($)			Coupon Rate (%)	Maturity	Fair Value
		CORPORATE BONDS — 58.4% (Continued)
		BIOTECH & PHARMA — 5.1%
	1,000,000	1261229 BC Ltd.(c)	10.0000	04/15/32	$	1,025,842
	500,000	Harrow, Inc.(c)	8.6250	09/15/30		520,313
						1,546,155
		ENGINEERING & CONSTRUCTION — 0.5%
	145,000	Tutor Perini Corporation(c)	11.8750	04/30/29		162,215
		ENTERTAINMENT CONTENT — 2.5%
	478,000	AMC Networks, Inc.(c)	10.2500	01/15/29		504,111
	250,000	Univision Communications, Inc.(c)	9.3750	08/01/32		266,710
						770,821
		FORESTRY, PAPER & WOOD PRODUCTS — 1.5%
	600,000	Mercer International, Inc.	5.1250	02/01/29		442,720
		HOUSEHOLD PRODUCTS — 0.5%
	150,000	Central Garden & Pet Company	4.1250	10/15/30		142,697
		LEISURE FACILITIES & SERVICES — 4.2%
	750,000	Full House Resorts, Inc.(c)	8.2500	02/15/28		696,811
	550,000	Odeon Finco PLC(c)	12.7500	11/01/27		571,230
						1,268,041
		METALS & MINING — 3.1%
	166,000	Hecla Mining Company	7.2500	02/15/28		167,635
	750,000	Nickel Industries Ltd.(c)	9.0000	09/30/30		762,275
						929,910
		OIL & GAS PRODUCERS — 0.6%
	175,000	Occidental Petroleum Corporation	6.6000	03/15/46		183,153
		OIL & GAS SERVICES & EQUIPMENT — 4.6%
	200,000	Nine Energy Service, Inc.	13.0000	02/01/28		100,854
	1,517,000	Transocean, Inc.	6.8000	03/15/38		1,288,185
						1,389,039
		PUBLISHING & BROADCASTING — 0.9%
	250,000	Gray Media, Inc.(c)	10.5000	07/15/29		270,319

CATALYST/SMH HIGH INCOME FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

September 30, 2025

Principal Amount ($)			Coupon Rate (%)	Maturity	Fair Value
		CORPORATE BONDS — 58.4% (Continued)
		REAL ESTATE INVESTMENT TRUSTS — 2.1%
	1,000,000	Office Properties Income Trust(c)	9.0000	09/30/29	$	643,750
		RETAIL - DISCRETIONARY — 10.2%
	1,065,000	Bed Bath & Beyond, Inc.(e)	5.1650	08/01/44		14,746
	490,017	Carvana Company(c)	14.0000	06/01/31		555,125
	1,000,000	Hertz Corporation (The)(c)	12.6250	07/15/29		1,061,110
	1,283,000	Kohl’s Corporation	5.5500	07/17/45		840,114
	825,000	Nordstrom, Inc.	5.0000	01/15/44		610,176
						3,081,271
		SOFTWARE — 8.3%
	1,000,000	CoreWeave, Inc.(c)	9.0000	02/01/31		1,025,477
	1,600,000	Pagaya US Holdings Company, LLC(c)	8.8750	08/01/30		1,497,245
						2,522,722
		SPECIALTY FINANCE — 6.6%
	1,500,000	Atlanticus Holdings Corporation(c)	9.7500	09/01/30		1,481,242
	500,000	Enova International, Inc.(c)	9.1250	08/01/29		526,739
						2,007,981
		TECHNOLOGY HARDWARE — 0.0%(b)
	8,669,000	Energy Conversion Devices, Inc.(c)(d)(e)(f)(g)	0.0000	12/15/49		—
		TECHNOLOGY SERVICES — 3.5%
	1,000,000	Unisys Corporation(c)	10.6250	01/15/31		1,066,301
		TOTAL CORPORATE BONDS (Cost $21,559,869)				17,687,498
Shares
		SHORT-TERM INVESTMENTS — 11.5%
		COLLATERAL FOR SECURITIES LOANED - 9.0%
	2,716,560	Mount Vernon Liquid Assets Portfolio, 4.22% (Cost $2,716,560)(h)(i)				2,716,560

CATALYST/SMH HIGH INCOME FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

September 30, 2025

Shares			Fair Value
		SHORT-TERM INVESTMENTS — 11.5% (Continued)
		MONEY MARKET FUNDS - 2.5%
	760,929	First American Treasury Obligations Fund, Class X, 4.02% (Cost $760,929)(i)	$	760,929
		TOTAL SHORT-TERM INVESTMENTS (Cost $3,477,489)		3,477,489
		TOTAL INVESTMENTS - 107.7% (Cost $35,442,963)	$	32,622,209
		LIABILITIES IN EXCESS OF OTHER ASSETS - (7.7)%		(2,357,483	)
		NET ASSETS - 100.0%	$	30,264,726

ETF	- Exchange-Traded Fund
LLC	- Limited Liability Company
Ltd.	- Limited Company
N.V.	- Naamioze Vennootschap
PLC	- Public Limited Company
SPDR	- Standard & Poor’s Depositary Receipt

(a)	All or a portion of the security is on loan. The total fair value of the securities on loan as of September 30, 2025 was $2,654,467.
(b)	Percentage rounds to less than 0.1%.
(c)	Security exempt from registration under Rule 144A or Section 4(2) of the Securities Act of 1933. The security may be resold in transactions exempt from registration, normally to qualified institutional buyers.  As of September 30, 2025 the total market value of 144A securities is 20,535,287 or 67.9% of net assets.
(d)	Zero coupon bond.
(e)	Represents issuer in default on interest payments; non-income producing security.
(f)	Illiquid security. The total fair value of these securities as of September 30, 2025 was $0, representing 0% of net assets.
(g)	The value of this security has been determined using significant unobservable inputs in good faith under policies of the Board of Trustees. The total of these securities is $0 or 0.0% of net assets.
(h)	Security was purchased with cash received as collateral for securities on loan at September 30, 2025. Total collateral had a value of $2,716,560 at September 30, 2025.
(i)	Rate disclosed is the seven day effective yield as of September 30, 2025.

CATALYST/SMH TOTAL RETURN INCOME FUND

SCHEDULE OF INVESTMENTS (Unaudited)

September 30, 2025

Shares			Fair Value
		COMMON STOCKS — 48.2%
		ASSET MANAGEMENT - 26.4%
	1,000	Apollo Global Management, Inc.(a)	$	133,270
	3,500	Ares Capital Corporation		71,435
	39,034	Blue Owl Capital, Inc.		660,846
	20,000	Capital Southwest Corporation(a)		437,200
	11,000	Carlyle Group, Inc. (The)		689,699
	7,087	Carlyle Secured Lending, Inc.		88,588
	4,900	Crescent Capital BDC, Inc.		69,874
	12,128	Main Street Capital Corporation(a)		771,219
	200,742	Prospect Capital Corporation(a)		552,041
	42,466	SuRo Capital Corporation		382,194
	3,400	TPG, Inc.		195,330
	70,337	Trinity Capital, Inc.(a)		1,088,817
	49,500	US Global Investors, Inc., Class A		136,125
				5,276,638
		AUTOMOTIVE - 0.4%
	6,200	Ford Motor Company		74,152
		INFRASTRUCTURE REIT - 1.2%
	1,200	American Tower Corporation		230,784
		OIL & GAS PRODUCERS - 5.2%
	23,298	Civitas Resources, Inc.		757,185
	40,000	HighPeak Energy, Inc.(a)		282,800
				1,039,985
		REAL ESTATE INVESTMENT TRUSTS - 9.9%
	600	Extra Space Storage, Inc.		84,564
	7,947	Hannon Armstrong Sustainable Infrastructure Capital, Inc.(a)		243,973
	4,890	Innovative Industrial Properties, Inc.		262,006
	33,631	NexPoint Diversified Real Estate Trust		124,097
	5,000	Realty Income Corporation(a)		303,950
	29,475	VICI Properties, Inc.		961,180
				1,979,770

CATALYST/SMH TOTAL RETURN INCOME FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

September 30, 2025

Shares			Fair Value
		COMMON STOCKS — 48.2% (Continued)
		RETAIL - DISCRETIONARY - 1.9%
	1,689	Dick’s Sporting Goods, Inc.	$	375,330
		SPECIALTY FINANCE - 2.8%
	26,000	Advanced Flower Capital, Inc.		99,580
	1,600	OneMain Holdings, Inc.(a)		90,336
	24,106	Rithm Capital Corporation		274,567
	8,666	Sunrise Realty Trust, Inc.		90,040
				554,523
		TRANSPORTATION & LOGISTICS - 0.4%
	700	Copa Holdings S.A., Class A		83,174
		TOTAL COMMON STOCKS (Cost $10,794,247)		9,614,356

Principal Amount ($)			Coupon Rate (%)	Maturity
		CONVERTIBLE BONDS — 20.7%
		INTERNET MEDIA & SERVICES — 5.2%
	850,000	Lyft, Inc.(b),(c)	0.0000	09/15/30	1,029,775
		RETAIL - CONSUMER STAPLES — 1.1%
	200,000	Hims & Hers Health, Inc.(b),(c)	0.0000	05/15/30	225,500
		SOFTWARE — 5.4%
	300,000	BigBear.ai Holdings, Inc.(b)	6.0000	12/15/29	610,149
	200,000	Nebius Group N.V.(b)	3.0000	06/05/31	464,850
					1,074,999
		SPECIALTY FINANCE — 1.4%
	150,000	EZCORP, Inc.(b)	3.7500	12/15/29	274,650
		TECHNOLOGY SERVICES — 7.6%
	550,000	Cleanspark, Inc.(b),(c)	0.0000	06/15/30	684,946
	550,000	Riot Platforms, Inc., 0.750%, 01/15/30(b)	0.7500	01/15/30	842,466
					1,527,412

CATALYST/SMH TOTAL RETURN INCOME FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

September 30, 2025

Principal Amount ($)					Fair Value
		TOTAL CONVERTIBLE BONDS (Cost $3,362,250)			$	4,132,336
Principal Amount ($)			Coupon Rate (%)	Maturity
		CORPORATE BONDS — 30.0%
		ASSET MANAGEMENT — 1.3%
	250,000	Icahn Enterprises, L.P. / Icahn Enterprises Finance Corporation(b)	10.0000	11/15/29		252,081
		ENTERTAINMENT CONTENT — 0.8%
	150,000	Univision Communications, Inc.(b)	9.3750	08/01/32		160,026
		LEISURE FACILITIES & SERVICES — 5.0%
	500,000	Full House Resorts, Inc.(b)	8.2500	02/15/28		464,541
	515,000	Odeon Finco PLC(b)	12.7500	11/01/27		534,879
						999,420
		OIL & GAS SERVICES & EQUIPMENT — 4.7%
	250,000	Nine Energy Service, Inc.	13.0000	02/01/28		126,068
	953,000	Transocean, Inc.	6.8000	03/15/38		809,255
						935,323
		REAL ESTATE INVESTMENT TRUSTS — 8.9%
	1,112,000	MPT Operating Partnership, L.P. / MPT Finance Corporation	5.0000	10/15/27		1,078,315
	1,096,000	Office Properties Income Trust(b)	9.0000	09/30/29		705,550
						1,783,865
		RETAIL - DISCRETIONARY — 8.5%
	373,000	Bed Bath & Beyond, Inc.(d)	5.1650	08/01/44		5,164
	490,017	Carvana Company(b)	14.0000	06/01/31		555,124
	750,000	Hertz Corporation (The)(b)	12.6250	07/15/29		795,832
	528,000	Kohl’s Corporation	5.5500	07/17/45		345,737
						1,701,857
		TECHNOLOGY HARDWARE — 0.0%
	5,543,000	Energy Conversion Devices, Inc.(b)(c)(d)(e)(f)	0.0000	12/15/49		—

CATALYST/SMH TOTAL RETURN INCOME FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

September 30, 2025

Principal Amount ($)			Coupon Rate (%)	Maturity	Fair Value
		CORPORATE BONDS — 30.0% (Continued)
		TECHNOLOGY SERVICES — 0.8%
	150,000	Unisys Corporation(b)	10.6250	01/15/31	$	159,945
		TOTAL CORPORATE BONDS (Cost $8,093,208)				5,992,517
Shares
		SHORT-TERM INVESTMENTS — 14.1%
		COLLATERAL FOR SECURITIES LOANED - 13.9%
	2,779,240	Mount Vernon Liquid Assets Portfolio, 4.22% (Cost $2,779,240)(g)(h)				2,779,240
		MONEY MARKET FUNDS - 0.2%
	41,359	First American Treasury Obligations Fund, Class X, 4.02% (Cost $41,359)(h)				41,359
		TOTAL SHORT-TERM INVESTMENTS (Cost $2,820,599)				2,820,599
		TOTAL INVESTMENTS – 113.0% (Cost $25,070,304)			$	22,559,808
		LIABILITIES IN EXCESS OF OTHER ASSETS - (13.0)%				(2,573,733	)
		NET ASSETS - 100.0%			$	19,986,075

BDC	- Business Development Company
L.P.	- Limited Partnership
N.V.	- Naamioze Vennootschap
PLC	- Public Limited Company
REIT	- Real Estate Investment Trust
S.A.	- Société Anonyme

(a)	All or a portion of the security is on loan. The total fair value of the securities on loan as of September 30, 2025 was $2,711,006.
(b)	Security exempt from registration under Rule 144A or Section 4(2) of the Securities Act of 1933. The security may be resold in transactions exempt from registration, normally to qualified institutional buyers.  As of September 30, 2025 the total market value of 144A securities is 7,760,314 or 38.8% of net assets.
(c)	Zero coupon bond.
(d)	Represents issuer in default on interest payments; non-income producing security.
(e)	Illiquid security. The total fair value of these securities as of September 30, 2025 was $0, representing 0% of net assets.
(f)	The value of this security has been determined using significant unobservable inputs in good faith under policies of the Board of Trustees. The total of these securities is $0 or 0.0% of net assets.
(g)	Security was purchased with cash received as collateral for securities on loan at September 30, 2025. Total collateral had a value of $2,779,240 at September 30, 2025.
(h)	Rate disclosed is the seven day effective yield as of September 30, 2025.

CATALYST BUFFERED SHIELD FUND

SCHEDULE OF INVESTMENTS (Unaudited)

September 30, 2025

Shares			Fair Value
		EXCHANGE-TRADED FUNDS — 90.1%
		FIXED INCOME - 90.1%
	93,764	iShares 1-5 Year Investment Grade Corporate Bond	$	4,972,305
	119,165	PGIM Ultra Short Bond ETF		5,937,992
	81,223	Vanguard Short-Term Corporate Bond ETF(c)		6,492,154
				17,402,451
		TOTAL EXCHANGE-TRADED FUNDS (Cost $17,471,983)		17,402,451
		SHORT-TERM INVESTMENTS — 1.1%
		MONEY MARKET FUNDS - 1.1%
	219,118	First American Treasury Obligations Fund, Class X, 4.02% (Cost $219,118)(a)		219,118

Contracts(b)			Broker/ Counterparty	Expiration Date	Exercise Price		Notional Value
		EQUITY OPTIONS PURCHASED - 17.5%
		CALL OPTIONS PURCHASED - 16.2%
	35	SPDR S&P 500 ETF Trust	IB	01/16/2026	$	570	$	1,995,000		368,883
	15	SPDR S&P 500 ETF Trust	IB	01/16/2026		590		885,000		130,553
	85	SPDR S&P 500 ETF Trust	IB	03/20/2026		570		4,845,000		956,293
	50	SPDR S&P 500 ETF Trust	IB	06/18/2026		560		2,800,000		648,075
	50	SPDR S&P 500 ETF Trust	IB	06/18/2026		600		3,000,000		477,225
	70	SPDR S&P 500 ETF Trust	IB	09/18/2026		635		4,445,000		539,525
		TOTAL CALL OPTIONS PURCHASED (Cost - $1,629,396)								3,120,554
		PUT OPTIONS PURCHASED - 1.3%
	35	SPDR S&P 500 ETF Trust	IB	01/16/2026	$	520	$	1,820,000	$	8,120
	15	SPDR S&P 500 ETF Trust	IB	01/16/2026		535		802,500		4,155
	85	SPDR S&P 500 ETF Trust	IB	03/20/2026		515		4,377,500		34,850
	50	SPDR S&P 500 ETF Trust	IB	06/18/2026		515		2,575,000		34,150
	50	SPDR S&P 500 ETF Trust	IB	06/18/2026		540		2,700,000		43,725
	70	SPDR S&P 500 ETF Trust	IB	09/18/2026		585		4,095,000		125,580
		TOTAL PUT OPTIONS PURCHASED (Cost - $653,524)								250,580
		TOTAL EQUITY OPTIONS PURCHASED (Cost - $2,282,920)								3,371,134

CATALYST BUFFERED SHIELD FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

September 30, 2025

	Fair Value
TOTAL INVESTMENTS - 108.7% (Cost $19,974,021)	$	20,992,703
CALL OPTIONS WRITTEN - (6.7)% (Premiums received - $444,891)		(1,296,828	)
PUT OPTIONS WRITTEN - (2.2)% (Premiums received - $1,089,648)		(415,956	)
OTHER ASSETS IN EXCESS OF LIABILITIES - 0.2%		43,209
NET ASSETS - 100.0%	$	19,323,128

Contracts(b)			Counterparty	Expiration Date	Exercise Price		Notional Value		Fair Value
		WRITTEN EQUITY OPTIONS - (8.9)%
		CALL OPTIONS WRITTEN- (6.7)%
	35	SPDR S&P 500 ETF Trust	IB	01/16/2026	$	640	$	2,240,000	$	153,703
	15	SPDR S&P 500 ETF Trust	IB	01/16/2026		670		1,005,000		33,030
	85	SPDR S&P 500 ETF Trust	IB	03/20/2026		650		5,525,000		386,580
	50	SPDR S&P 500 ETF Trust	IB	06/18/2026		635		3,175,000		338,300
	50	SPDR S&P 500 ETF Trust	IB	06/18/2026		675		3,375,000		197,300
	70	SPDR S&P 500 ETF Trust	IB	09/18/2026		715		5,005,000		187,915
		TOTAL CALL OPTIONS WRITTEN (Proceeds - $444,891)								1,296,828
		PUT OPTIONS WRITTEN - (2.2)%
	35	SPDR S&P 500 ETF Trust	IB	01/16/2026	$	570	$	1,995,000	$	15,278
	15	SPDR S&P 500 ETF Trust	IB	01/16/2026		590		885,000		8,678
	85	SPDR S&P 500 ETF Trust	IB	03/20/2026		570		4,845,000		64,515
	50	SPDR S&P 500 ETF Trust	IB	06/18/2026		560		2,800,000		53,400
	50	SPDR S&P 500 ETF Trust	IB	06/18/2026		600		3,000,000		79,625
	70	SPDR S&P 500 ETF Trust	IB	09/18/2026		635		4,445,000		194,460
		TOTAL PUT OPTIONS WRITTEN (Proceeds - $1,089,648)								415,956
		TOTAL EQUITY OPTIONS WRITTEN (Proceeds - $1,534,539)							$	1,712,784

ETF	- Exchange-Traded Fund
IB	- Interactive Brokers
SPDR	- Standard & Poor’s Depositary Receipt

(a)	Rate disclosed is the seven day effective yield as of September 30, 2025.
(b)	Each option contract allows the holder of the option to purchase or sell 100 shares of the underlying security.
(c)	All or a portion of this security is segregated as collateral for options written.

CATALYST ENHANCED INCOME STRATEGY FUND

SCHEDULE OF INVESTMENTS (Unaudited)

September 30, 2025

Principal Amount ($)			Spread	Coupon Rate (%)	Maturity	Fair Value
		ASSET BACKED SECURITIES — 65.8%
		COLLATERALIZED MORTGAGE OBLIGATIONS — 16.8%
	49,280	Alternative Loan Trust Series 2006-J3 4A2		5.7500	05/25/26	$	48,831
	120,703	Alternative Loan Trust Series 2005-3CB 2A1		5.0000	03/25/35		110,255
	34,008	Banc of America Funding Trust Series 2006-J 2A3(a)		4.5220	01/20/47		29,373
	8,089	Banc of America Mortgage Trust Series 2005-G 4A2(a)		3.4800	08/25/35		7,135
	394,963	Bear Stearns ALT-A Trust Series 2005-5 24A1(a)		4.6290	07/25/35		256,397
	37,148	Bear Stearns ARM Trust Series 2004-7 1A1(a),(h)		0.0000	10/25/34		28,905
	168,727	Bear Stearns ARM Trust Series 2006-4 2A1(a)		4.2580	10/25/36		148,955
	79,398	ChaseFlex Trust Series 2006-1 A4(a)		6.3000	06/25/36		70,531
	64,750	CHL Mortgage Pass-Through Trust Series 2005-HYB2 1A4(a)		5.3530	05/20/35		63,303
	289,095	CHL Mortgage Pass-Through Trust Series 2006-HYB2 1A1(a)		5.3900	04/20/36		252,108
	246,930	Citigroup Mortgage Loan Trust, Inc.  Series 2007-6 1A1A(a)		4.9760	03/25/37		220,359
	19,072	CSMC Mortgage-Backed Trust Series 2007-5 8A2		6.0000	09/01/26		18,992
	2,999,202	CSMC Mortgage-Backed Trust Series 2006-7 9A5		1.3240	08/25/36		499,354
	39,263	First Horizon Alternative Mortgage Securities Trust Series 2004-AA3 A1(a)		5.0990	09/25/34		40,092
	6,855	First Horizon Alternative Mortgage Securities Trust Series 2005-AA6 2A1(a)		5.2860	08/25/35		4,700
	77,884	GSMPS Mortgage Loan Trust Series 1998-5 A(a),(b)		4.2140	06/19/27		77,095
	122,552	GSMPS Mortgage Loan Trust Series 1999-2 A(a),(b)		8.0000	09/19/27		122,099
	148,216	GSR Mortgage Loan Trust Series 2003-5F 2A1		4.0000	08/25/32		146,009
	30,343	GSR Mortgage Loan Trust Series 2004-6F 1A2		5.0000	05/25/34		30,371
	562,140	GSR Mortgage Loan Trust Series 3F 2A5		5.7500	03/25/36		505,510
	448,032	HSI Asset Loan Obligation Trust Series 2007-2 3A6		2.0910	09/25/37		139,801
	480,692	IndyMac INDA Mortgage Loan Trust Series 2006-AR1 A3(a)		3.6470	08/25/36		374,789
	117,874	IndyMac INDX Mortgage Loan Trust Series 2005-AR3 3A1(a)		4.0540	04/25/35		110,388
	23,429	JP Morgan Mortgage Trust Series 2006-A2 2A2(a)		5.2360	04/25/36		20,533
	8,269	MASTR Adjustable Rate Mortgages Trust Series 2003-5 4A1(a)		2.8380	11/25/33		7,533
	351	MASTR Asset Securitization Trust Series 2005-1 1A1(g)		5.0000	Perpetual		193
	685,659	Merrill Lynch Alternative Note Asset Trust Series 2007-A2 A3D(c)	TSFR1M + 0.714%	4.1300	03/25/37		24,460
	46,553	Morgan Stanley Mortgage Loan Trust Series 2004-5AR 1A1(a)		6.3260	07/25/34		47,336
	148,228	Morgan Stanley Mortgage Loan Trust Series 2006-2 2A4		5.7500	02/25/36		139,691
	1,270,220	Nomura Asset Acceptance Corp Alternative Loan Trust Series 2005-AP3 A3(a)		1.5260	08/25/35		551,270
	43,220	Prime Mortgage Trust Series 2004-1 1A6		5.2500	08/25/34		42,959
	66,745	RALI Series 2006-QS17 Trust Series 2006-QS17 A4		6.0000	12/25/36		55,985
	1,327,206	Structured Asset Securities Corporation Series 1998-RF1 A(a),(b)		4.0720	04/15/27		1,325,749
	1,273,328	Thornburg Mortgage Securities Trust Series 2007-2 A2A(c)	TSFR12M + 1.965%	4.4470	06/25/37		1,092,335
	5,277,789	Thornburg Mortgage Securities Trust Series 2006-3 A1(a)		2.9990	06/25/46		3,083,715

CATALYST ENHANCED INCOME STRATEGY FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

September 30, 2025

Principal Amount ($)			Spread	Coupon Rate (%)	Maturity	Fair Value
		ASSET BACKED SECURITIES — 65.8% (Continued)
		COLLATERALIZED MORTGAGE OBLIGATIONS — 16.8% (Continued)
	48,524	WaMu Mortgage Pass-Through Certificates Series 2005-AR18 2A1(a)		4.3830	01/25/36	$	45,420
	229,287	Wells Fargo Mortgage Backed Securities Series 2006-7 2A1		6.0000	06/25/36		208,436
							9,950,967
		HOME EQUITY — 13.4%
	167,056	Amresco Residential Securities Corp Mortgage Loan Trust Series 1997-3 M2F(a)		3.6300	09/25/27		163,371
	423,706	Bayview Financial Acquisition Trust Series 2007-A 2A(c)	TSFR1M + 0.639%	4.4960	05/28/37		402,707
	381,400	Delta Funding Home Equity Loan Trust Series 1998-1 B1A(c)	TSFR1M + 2.004%	6.3300	05/25/30		323,633
	184,628	Home Equity Mortgage Loan Asset-Backed Trust Series SPMD 2004-C M7(c)	TSFR1M + 2.739%	4.2520	03/25/35		153,205
	927,142	Mastr Asset Backed Securities Trust Series 2003-OPT2 M4(c)	TSFR1M + 5.889%	3.6200	05/25/33		807,375
	443,099	Mastr Asset Backed Securities Trust Series 2003-WMC2 M6(c)	TSFR1M + 6.114%	4.0200	08/25/33		466,434
	5,827,783	Morgan Stanley Mortgage Loan Trust Series 2006-15XS A6B(d)		4.2530	11/25/36		4,629,653
	167,479	NovaStar Mortgage Funding Trust Series 2004-1 M4(c)	TSFR1M + 1.577%	4.3660	06/25/34		161,711
	609,972	Saxon Asset Sec Trust Mtg Ln Asset Bk Cert Series 2000-1 BF1(a)		1.7780	02/25/30		779,815
							7,887,904
		NON AGENCY CMBS — 24.6%
	4,565,000	Citigroup Commercial Mortgage Trust Series 2015-GC35 D		3.2360	11/10/48		2,811,181
	4,108,000	COMM Mortgage Trust Series 2013-CR12 C(a)		4.9600	10/10/46		454,848
	5,726,000	GS Mortgage Securities Trust Series 2014-GC22 E(b)		3.5800	06/10/47		625,888
	1,350,000	HMH Trust Series 2017-NSS E(b)		6.2920	07/05/31		104,625
	127,617	JP Morgan Chase Commercial Mortgage Securities Trust Series 2012-WLDN A(b)		3.9100	05/05/30		126,023
	1,250,000	JPMBB Commercial Mortgage Securities Trust Series 2015-C32 D(a)		4.3400	11/15/48		132,694
	4,413,218	Morgan Stanley Capital I Trust Series 2006-T21 C(a),(b)		5.1490	10/12/52		3,502,268
	1,500,000	Morgan Stanley Capital I Trust Series 150E A(b)		3.9120	09/09/32		1,364,404
	5,902,991	Starwood Retail Property Trust Series 2014-STAR A A(b),(c)	PRIME	7.4900	11/15/27		3,656,903
	116,564	Wachovia Bank Commercial Mortgage Trust Series 2006-C24 E(a)		6.3130	03/15/45		114,759
	3,000,000	WFRBS Commercial Mortgage Trust Series 2014-C22 E(b)		3.4500	09/15/57		568,575
	1,145,000	WFRBS Commercial Mortgage Trust Series 2011-C4 E(a),(b)		5.1500	06/15/44		1,083,459
							14,545,627
		RESIDENTIAL MORTGAGE — 11.0%
	2,548,967	Carrington Mortgage Loan Trust Series 2006-FRE2 A2(c)	TSFR1M + 0.234%	4.5600	10/25/36		1,960,021
	246,381	Finance America Mortgage Loan Trust Series 2004-3 M4(c)	TSFR1M + 1.380%	3.3400	11/25/34		223,175
	63,754	Home Equity Mortgage Loan Asset-Backed Trust Series 2006-D 2A3(c)	TSFR1M + 0.274%	4.4320	11/25/36		58,424
	3,173,453	Park Place Securities Inc Asset-Backed Pass-Through Certificates Series 2004-WCW2 M6(c)	TSFR1M + 2.289%	4.0900	10/25/34		2,835,705

CATALYST ENHANCED INCOME STRATEGY FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

September 30, 2025

Principal Amount ($)			Spread	Coupon Rate (%)	Maturity	Fair Value
		ASSET BACKED SECURITIES — 65.8% (Continued)
		RESIDENTIAL MORTGAGE — 11.0% (Continued)
	12,206,000	Structured Asset Securities Corp Mortgage Loan Series BNC1 A4(c)	TSFR1M + 1.614%	3.0300	10/25/37	$	1,439,993
							6,517,318
		TOTAL ASSET BACKED SECURITIES (Cost $54,442,171)					38,901,816
		U.S. GOVERNMENT & AGENCY OBLIGATIONS — 18.4%
	2,185,466	Fannie Mae REMICS Series 2010-27 SG(c),(e)	-(SOFR30A+.114%) + 4.886%	0.5290	04/25/40		154,641
	2,647,047	Fannie Mae REMICS Series 2011-117 SA(c),(e)	-(SOFR30A+.114%) + 6.436%	2.0790	11/25/41		348,553
	88,233	Fannie Mae REMICS Series 2012-126 DI(e)		3.0000	11/25/27		1,829
	667,690	Fannie Mae REMICS Series 2012-126 SJ(c),(e)	-(SOFR30A+.114%) + 4.886%	0.5290	11/25/42		43,390
	2,258,028	Fannie Mae REMICS Series 2012-88 SB(c),(e)	-(SOFR30A+.114%) + 6.556%	2.1990	07/25/42		273,209
	2,542,255	Fannie Mae REMICS Series 2014-6 SA(c),(e)	-(SOFR30A+.114%) + 6.486%	2.1290	02/25/44		305,243
	1,895,975	Fannie Mae REMICS Series 2016-64 SA(c),(e)	-(SOFR30A+.114%) + 5.886%	1.5290	09/25/46		216,740
	783,186	Fannie Mae REMICS Series 2017-112 SC(c),(e)	-(SOFR30A+.114%) + 6.150%	1.6790	01/25/48		98,369
	423,396	Fannie Mae REMICS Series 2017-30 MI(e)		4.0000	02/25/44		11,652
	508,360	Fannie Mae REMICS Series 2017-38 S(c),(e)	-(SOFR30A+.114%) + 6.100%	1.6290	05/25/47		64,248
	19,105	Fannie Mae REMICS Series 2017-6 MI(e)		4.0000	08/25/44		794
	11,378,751	Fannie Mae REMICS Series 2018-28 ID(a),(e)		2.0740	05/25/48		966,420
	211,060	Fannie Mae REMICS Series 2020-16 SJ(c),(e)	-(SOFR30A+.114%) + 6.050%	1.5790	03/25/50		22,000
	3,040,454	Fannie Mae REMICS Series 2021-56 IM(c),(e)	-0.67 x SOFR30A + 2.200%	0.0000	09/25/51		72,271
	18,617,918	Fannie Mae REMICS Series 2021-69 JS(c),(e)	-SOFR30A + 2.550%	0.0000	10/25/51		194,096
	10,307,226	Fannie Mae REMICS Series 2021-80 IA(e)		2.0000	11/25/51		1,262,851
	646,788	Freddie Mac REMICS Series 3852 SW(c),(e)	-(SOFR30A+.114%) + 6.000%	1.5130	05/15/41		70,140
	119,634	Freddie Mac REMICS Series 3980 TS(c),(e)	-(SOFR30A+.114%) + 6.500%	2.0130	09/15/41		15,458
	575,718	Freddie Mac REMICS Series 4100 JI(e)		3.5000	10/15/41		60,258
	86,276	Freddie Mac REMICS Series 4205 AI(e)		2.5000	05/15/28		1,882
	5,250,294	Freddie Mac REMICS Series 4239 NI(c),(e)	-5.8333 x (SOFR30A+.114%) + 28.791%	3.2080	07/15/43		1,002,066
	389,215	Freddie Mac REMICS Series 4314 SE(c),(e)	-(SOFR30A+.114%) + 6.050%	1.5630	03/15/44		42,549
	300,431	Freddie Mac REMICS Series 4431 ST(c),(e)	-(SOFR30A+.114%) + 6.100%	1.6130	01/15/45		33,904

CATALYST ENHANCED INCOME STRATEGY FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

September 30, 2025

Principal Amount ($)			Spread	Coupon Rate (%)	Maturity	Fair Value
		U.S. GOVERNMENT & AGENCY OBLIGATIONS — 18.4% (Continued)
	44,965	Freddie Mac REMICS Series 4449 PI(e)		4.0000	11/15/43	$	3,178
	170,693	Freddie Mac REMICS Series 4580 MI(e)		3.5000	02/15/43		1,471
	4,588,079	Freddie Mac REMICS Series 4604 SA(c),(e)	-(SOFR30A+.114%) + 5.986%	1.6130	08/15/46		460,660
	5,136,207	Freddie Mac REMICS Series 4639 GS(c),(e)		1.8650	03/15/36		304,550
	17,270,559	Freddie Mac REMICS Series 5090 SA(c),(e)	-SOFR30A + 1.550%	0.0000	03/25/51		89,078
	13,333,605	Freddie Mac REMICS Series 5177 AS(c),(e)	-SOFR30A + 3.150%	0.0000	12/25/51		143,250
	2,058,405	Government National Mortgage Association Series 2011-100 SA(c),(e)	-(TSFR1M+.114%) + 5.336%	1.2000	07/20/41		196,263
	9,223,879	Government National Mortgage Association Series 2011-99 DS(c),(e)	-(TSFR1M+.114%) + 5.986%	1.8390	07/16/41		955,999
	144,889	Government National Mortgage Association Series 2012-36 QS(c),(e)	-(TSFR1M+.114%) + 6.506%	2.3700	03/20/42		13,903
	124,153	Government National Mortgage Association Series 2014-118 AI(e)		3.5000	05/16/40		2,417
	2,236,054	Government National Mortgage Association Series 2014-133 SA(c),(e)	-(TSFR1M+.114%) + 6.136%	1.9890	09/16/44		207,042
	1,372,004	Government National Mortgage Association Series 2014-3 SE(c),(e)	-(TSFR1M+.114%) + 6.036%	1.8890	01/16/44		151,432
	1,961,651	Government National Mortgage Association Series 2014-36 SY(c),(e)	-(TSFR1M+.114%) + 6.086%	1.9390	03/16/44		218,202
	1,971,439	Government National Mortgage Association Series 2015-3 DS(c),(e)	-(TSFR1M+.114%) + 5.486%	1.3500	11/20/41		32,461
	183,356	Government National Mortgage Association Series 2016-1 ST(c),(e)	-(TSFR1M+.114%) + 6.086%	1.9500	01/20/46		21,958
	1,859,760	Government National Mortgage Association Series 2018-120 JS(c),(e)	-(TSFR1M+.114%) + 6.086%	1.9500	09/20/48		213,178
	94,881	Government National Mortgage Association Series 2018-154 DI(e)		4.0000	01/20/45		821
	2,963,467	Government National Mortgage Association Series 2018-154 HS(c),(e)	-(TSFR1M+.114%) + 6.086%	1.9500	11/20/48		334,774
	18,411,641	Government National Mortgage Association Series 2019-112 AS(c),(e)	-(TSFR1M+.114%) + 3.296%	0.0000	09/20/49		278,828
	9,346,827	Government National Mortgage Association Series 2019-20 ES(c),(e)	-(TSFR1M+.114%) + 3.676%	0.0000	02/20/49		201,505
	1,518,831	Government National Mortgage Association Series 2019-22 SA(c),(e)	-(TSFR1M+.114%) + 5.486%	1.3500	02/20/45		139,886
	290,582	Government National Mortgage Association Series 2021-89 JL		1.5000	05/20/51		157,706
	37,056,177	Government National Mortgage Association Series 2022-121 SA(c),(e)	-SOFR30A + 3.690%	0.0000	07/20/52		556,302
	13,499,315	Government National Mortgage Association Series 2022-22 PS(c),(e)	-SOFR30A + 3.650%	0.0000	08/20/51		268,293
	15,888,016	Government National Mortgage Association Series 2022-93 AS(c),(e)	-SOFR30A + 4.150%	0.0000	05/20/52		631,423
	1,319	Government National Mortgage Association Series 2024-4 IC(e)		7.0000	03/20/52		—
		TOTAL U.S. GOVERNMENT & AGENCY OBLIGATIONS (Cost $15,952,661)					10,847,143

CATALYST ENHANCED INCOME STRATEGY FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

September 30, 2025

Shares			Fair Value
		SHORT-TERM INVESTMENTS — 15.5%
		MONEY MARKET FUNDS - 15.5%
	9,161,400	First American Treasury Obligations Fund, Class X, 4.02% (Cost $9,161,400)(f)	$	9,161,400
		TOTAL INVESTMENTS - 99.7% (Cost $79,556,232)	$	58,910,359
		OTHER ASSETS IN EXCESS OF LIABILITIES - 0.3%		177,711
		NET ASSETS - 100.0%	$	59,088,070

REMIC	- Real Estate Mortgage Investment Conduit
PRIME	- Prime Rate by Country United States
SOFR30A	- United States 30 Day Average SOFR Secured Overnight Financing Rate
TSFR12M	- Secured Overnight Financing Rate 12 Month
TSFR1M	- Secured Overnight Financing Rate 1 Month

(a)	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.
(b)	Security exempt from registration under Rule 144A or Section 4(2) of the Securities Act of 1933. The security may be resold in transactions exempt from registration, normally to qualified institutional buyers.  As of September 30, 2025 the total market value of 144A securities is 12,557,088 or 21.3% of net assets.
(c)	Variable rate security; the rate shown represents the rate on September 30, 2025.
(d)	Step bond.  Coupon rate is fixed rate that changes on a specified date.  The rate shown is the current rate at September 30, 2025.
(e)	Interest only securities.
(f)	Rate disclosed is the seven day effective yield as of September 30, 2025.
(g)	Maturity is not determined on this security, maturity will occur based on the maturity of the underlying bonds.
(h)	Zero coupon bond.