CATALYST INSIDER BUYING FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)

March 31, 2025

Shares			Fair Value
		COMMON STOCKS — 84.6%
		AEROSPACE & DEFENSE - 1.0%
	2,300	TAT Technologies Ltd.(a)	$	63,204
	56	TransDigm Group, Inc.		77,464
				140,668
		APPAREL & TEXTILE PRODUCTS - 1.2%
	1,650	Deckers Outdoor Corporation(a)		184,487
		ASSET MANAGEMENT - 15.8%
	2,620	Apollo Global Management, Inc.		358,783
	2,310	Ares Management Corporation, Class A(b)		338,669
	8,425	Blue Owl Capital, Inc.(b)		168,837
	1,710	LPL Financial Holdings, Inc.		559,409
	2,560	Raymond James Financial, Inc.(b)		355,610
	13,650	Robinhood Markets, Inc., Class A(a)		568,112
				2,349,420
		AUTOMOTIVE - 0.1%
	700	XPEL, Inc.(a)		20,566
		BANKING - 0.6%
	2,450	Merchants Bancorp		90,650
		BEVERAGES - 0.4%
	1,525	Celsius Holdings, Inc.(a),(b)		54,321
		BIOTECH & PHARMA - 1.6%
	525	Novo Nordisk A/S - ADR		36,456
	3,150	TransMedics Group, Inc.(a),(b)		211,932
				248,388
		CAPITAL MARKETS - 1.3%
	1,635	KKR & Company, Inc.		189,022
		ELECTRICAL EQUIPMENT - 0.3%
	1,875	Napco Security Technologies, Inc.		43,163

CATALYST INSIDER BUYING FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

March 31, 2025

Shares			Fair Value
		COMMON STOCKS — 84.6% (Continued)
		ENGINEERING & CONSTRUCTION - 2.2%
	920	Comfort Systems USA, Inc.	$	296,543
	220	IES Holdings, Inc.(a)		36,324
				332,867
		HEALTH CARE FACILITIES & SERVICES - 3.6%
	140	Ensign Group, Inc. (The)(b)		18,116
	1,380	Medpace Holdings, Inc.(a)		420,472
	170	UnitedHealth Group, Inc.		89,038
				527,626
		INSTITUTIONAL FINANCIAL SERVICES - 2.7%
	5,175	StoneX Group, Inc.(a)		395,267
		INSURANCE - 6.0%
	420	Brown & Brown, Inc.(b)		52,248
	5,600	International General Insurance Holdings Ltd.(b)		147,336
	1,400	Kinsale Capital Group, Inc.(b)		681,394
				880,978
		INTERNET MEDIA & SERVICES - 13.1%
	390	Alphabet, Inc., Class A		60,310
	63,000	Groupon, Inc.(a),(b)		1,182,510
	260	Meta Platforms, Inc., Class A		149,854
	13,500	Opera Ltd. - ADR		215,190
	4,390	Uber Technologies, Inc.(a),(b)		319,855
				1,927,719
		MACHINERY - 0.1%
	115	Veralto Corporation		11,207
		MEDICAL EQUIPMENT & DEVICES - 0.1%
	62	Danaher Corporation		12,710
		OIL & GAS PRODUCERS - 2.8%
	875	Murphy USA, Inc.		411,084
		RETAIL - DISCRETIONARY - 1.9%
	25	AutoZone, Inc.(a)		95,320

CATALYST INSIDER BUYING FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

March 31, 2025

Shares			Fair Value
		COMMON STOCKS — 84.6% (Continued)
		RETAIL - DISCRETIONARY - 1.9% (Continued)
	125	O'Reilly Automotive, Inc.(a)	$	179,072
				274,392
		SOFTWARE - 15.7%
	6,900	AvePoint, Inc.(a)		99,636
	2,600	Cellebrite DI Ltd.(a)		50,518
	1,115	CyberArk Software Ltd.(a)		376,870
	5,400	Fortinet, Inc.(a)		519,804
	80	Microsoft Corporation		30,031
	500	Monday.com Ltd.(a)		121,580
	16,380	Oddity Tech Ltd.(a),(b)		708,600
	280	Qualys, Inc.(a)		35,260
	860	Synopsys, Inc.(a),(b)		368,811
				2,311,110
		TECHNOLOGY HARDWARE - 2.9%
	5,590	Arista Networks, Inc.(a)		433,113
		TECHNOLOGY SERVICES - 6.9%
	635	Fiserv, Inc.(a)		140,227
	766	Mastercard, Inc., Class A		419,860
	765	MSCI, Inc.		432,607
	80	Visa, Inc., Class A		28,037
				1,020,731
		TELECOMMUNICATIONS - 1.5%
	39,400	Allot Ltd.(a)		224,974
		WHOLESALE - DISCRETIONARY - 2.8%
	3,150	Climb Global Solutions, Inc.		348,893
	1,020	Copart, Inc.(a)		57,722
				406,615
		TOTAL COMMON STOCKS (Cost $11,816,663)		12,491,078

CATALYST INSIDER BUYING FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

March 31, 2025

Principal Amount ($)			Coupon Rate (%)	Maturity	Fair Value
		U.S. GOVERNMENT & AGENCIES — 13.9%
		U.S. TREASURY BILL — 13.9%
	2,100,000	United States Treasury Bill(d),(e)	0.00%	10/30/25	$	2,051,039
		TOTAL U.S. GOVERNMENT & AGENCIES (Cost $2,049,543)				2,051,039
Shares					Fair Value
		SHORT-TERM INVESTMENTS — 29.1%
		COLLATERAL FOR SECURITIES LOANED - 28.5%
	4,211,547	Mount Vernon Liquid Assets Portfolio, 4.42% (Cost $4,211,547)(f)				4,211,547
		MONEY MARKET FUND - 0.6%
	85,783	First American Treasury Obligations Fund, Class X, 4.25% (Cost $85,783)(f)				85,783
		TOTAL SHORT-TERM INVESTMENTS (Cost $4,297,330)				4,297,330
		TOTAL INVESTMENTS - 127.6% (Cost $18,163,536)			$	18,839,447
		LIABILITIES IN EXCESS OF OTHER ASSETS - (27.6)%				(4,071,238	)
		NET ASSETS - 100.0%			$	14,768,209

ADR	- American Depositary Receipt
A/S	- Anonim Sirketi
LTD	- Limited Company
MSCI	- Morgan Stanley Capital International

(a)	Non-income producing security.
(b)	Security was purchased with cash received as collateral for securities on loan at March 31, 2025. Total collateral had a value of $4,608,239 at March 31, 2025.
(c)	Percentage rounds to less than 0.1%.
(d)	All or a portion of this investment is a holding of the CIBF Fund Ltd.
(e)	Zero coupon bond.
(f)	Rate disclosed is the seven day effective yield as of March 31, 2025.

CATALYST INSIDER BUYING FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

March 31, 2025

TOTAL RETURN SWAP - 0.6% +

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 Index is comprised of five rules-based Index components created by CIBC. *

Shares	Reference Entity	Frequency	Pay/Receive Fixed Rate	Upfront Payments	Counterparty	Maturity	Notional Amount	Unrealized Appreciation
6,450	CIBC Macro Hedge Index	Monthly	0.5000%	—	CIBC	11/30/2025	(13,712,768.00)	$	86,142
								$	86,142

+ 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)

March 31, 2025

Principal Amount ($)			Coupon Rate (%)	Maturity	Fair Value
		U.S. GOVERNMENT & AGENCIES — 51.1%
		U.S. TREASURY BILLS — 51.1%
	40,000,000	United States Treasury Bill(a)(d)	4.2050	07/03/25	$	39,568,325
		TOTAL U.S. GOVERNMENT & AGENCIES (Cost $39,577,367)
Shares
		SHORT-TERM INVESTMENTS — 39.0%
		MONEY MARKET FUNDS - 39.0%
	30,245,465	First American Treasury Obligations Fund, Class X, 4.25% (Cost $30,245,465)(b)				30,245,465

Contracts(c)			Counterparty	Expiration Date	Exercise Price		Notional Value
		FUTURE OPTIONS PURCHASED - 0.5%
		PUT OPTIONS PURCHASED - 0.5%
	100	S&P Emini Future, Maturing June 2025	ADM	04/01/2025	$	4,625	$	28,266,250	$	250
	1,275	S&P Emini Future, Maturing June 2025	ADM	04/02/2025		4,500		360,394,688		6,375
	400	S&P Emini Future, Maturing June 2025	FCS	04/02/2025		4,500		113,065,000		2,000
	700	S&P Emini Future, Maturing June 2025	ADM	04/02/2025		5,325		197,863,750		57,750
	200	S&P Emini Future, Maturing June 2025	FCS	04/02/2025		5,325		56,532,500		16,500
	700	S&P Emini Future, Maturing June 2025	ADM	04/04/2025		5,275		197,863,750		112,000
	200	S&P Emini Future, Maturing June 2025	FCS	04/04/2025		5,275		56,532,500		32,000
	350	S&P Emini Future, Maturing June 2025	ADM	04/04/2025		5,425		98,931,875		179,375
	100	S&P Emini Future, Maturing June 2025	FCS	04/04/2025		5,425		28,266,250		51,250
		TOTAL PUT OPTIONS PURCHASED (Cost - $253,313)								457,500
		TOTAL FUTURE OPTIONS PURCHASED (Cost - $253,313)								457,500
		TOTAL INVESTMENTS - 90.6% (Cost $70,076,145)							$	70,271,290
		PUT OPTIONS WRITTEN - (0.5)% (Premiums received - $234,000)								(429,750	)
		OTHER ASSETS IN EXCESS OF LIABILITIES – 9.9%								7,716,504
		NET ASSETS - 100.0%							$	77,558,044
Contracts(c)			Counterparty	Expiration Date	Exercise Price		Notional Value		Fair Value
		WRITTEN FUTURE OPTIONS - (0.5)%
		PUT OPTIONS WRITTEN - (0.5)%
	1,400	S&P Emini Future, Maturing June 2025	ADM	04/02/2025	$	5,050	$	395,727,500	$	42,000
	400	S&P Emini Future, Maturing June 2025	FCS	04/02/2025		5,050		113,065,000		12,000
	1,400	S&P Emini Future, Maturing June 2025	ADM	04/04/2025		5,075		395,727,500		105,000
	400	S&P Emini Future, Maturing June 2025	FCS	04/04/2025		5,075		113,065,000		30,000
	700	S&P Emini Future, Maturing June 2025	ADM	04/04/2025		5,350		197,863,750		187,250

CATALYST/WARRINGTON STRATEGIC PROGRAM FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

March 31, 2025

Contracts(c) (continued)			Counterparty	Expiration Date	Exercise Price		Notional Value		Fair Value
		WRITTEN FUTURE OPTIONS - (0.5)%
		PUT OPTIONS WRITTEN - (0.5)% (Continued)
	200	S&P Emini Future, Maturing June 2025	FCS	04/04/2025	$	5,350	$	56,532,500	$	53,500
		TOTAL PUT OPTIONS WRITTEN (Premiums received - $234,000)								429,750
		TOTAL FUTURE OPTIONS WRITTEN (Premiums received - $234,000)							$	429,750

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

(a)	Zero coupon bond. Discount rate shown.
(b)	Rate disclosed is the seven-day effective yield as of March 31, 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)

March 31, 2025

Principal Amount ($)			Coupon Rate (%)	Maturity	Fair Value
		CONVERTIBLE BONDS — 27.5%
		ASSET MANAGEMENT — 4.9%
	2,600,000	New Mountain Finance Corporation	7.5000	10/15/25	$	2,633,800
		INTERNET MEDIA & SERVICES — 0.2%
	100,000	Groupon, Inc.(a)	6.2500	03/15/27		104,755
		SPECIALTY FINANCE — 22.4%
	2,300,000	Arbor Realty Trust, Inc.	7.5000	08/01/25		2,300,000
	2,700,000	PennyMac Corporation	5.5000	03/15/26		2,685,150
	7,000,000	Two Harbors Investment Corporation	6.2500	01/15/26		6,947,500
						11,932,650
		TOTAL CONVERTIBLE BONDS (Cost $14,548,801)				14,671,205
		CORPORATE BONDS — 62.5%
		AEROSPACE & DEFENSE — 4.8%
	2,500,000	TransDigm, Inc.(a)	6.7500	08/15/28		2,539,593
		ASSET MANAGEMENT — 10.1%
	2,800,000	Ares Capital Corporation	2.8750	06/15/28		2,604,941
	2,861,000	Prospect Capital Corporation	3.7060	01/22/26		2,792,225
						5,397,166
		BEVERAGES — 4.7%
	2,500,000	Constellation Brands, Inc.	5.0000	02/02/26		2,498,820
		HOME CONSTRUCTION — 4.7%
	2,500,000	Century Communities, Inc.	6.7500	06/01/27		2,505,880
		INSURANCE — 7.4%
	2,862,526	Ambac Assurance Corporation(a)(c)	5.100	06/07/69		3,933,841
		INTERNET MEDIA & SERVICES — 9.7%
	2,500,000	Uber Technologies, Inc.(a)	7.5000	09/15/27		2,533,048

CATALYST INSIDER INCOME FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

March 31, 2025

Principal Amount ($)			Coupon Rate (%)	Maturity	Fair Value
		CORPORATE BONDS — 62.5% (Continued)
		INTERNET MEDIA & SERVICES — 9.7% (Continued)
	2,612,000	VeriSign, Inc.	5.2500	04/01/25	$	2,612,000
						5,145,048
		METALS & MINING — 0.6%
	299,000	Warrior Met Coal, Inc.(a)	7.8750	12/01/28		306,518
		OIL & GAS PRODUCERS — 3.7%
	2,000,000	Murphy Oil USA, Inc.	5.6250	05/01/27		1,992,213
		RETAIL - DISCRETIONARY — 4.7%
	2,500,000	Lowe's Companies, Inc.	4.4000	09/08/25		2,499,776
		SEMICONDUCTORS — 7.5%
	1,571,000	Amkor Technology, Inc.(a)	6.6250	09/15/27		1,576,634
	2,500,000	Skyworks Solutions, Inc.	1.8000	06/01/26		2,406,837
						3,983,471
		TRANSPORTATION & LOGISTICS — 4.6%
	2,500,000	United Airlines, Inc.(a)	4.3750	04/15/26		2,464,122
		TOTAL CORPORATE BONDS (Cost $33,391,091)				33,266,448
Shares
		SHORT-TERM INVESTMENTS — 9.3%
		MONEY MARKET FUNDS - 9.3%
	4,957,006	First American Treasury Obligations Fund, Class X, 4.25% (Cost $4,957,006)(b)				4,957,006
		TOTAL INVESTMENTS - 99.3% (Cost $52,896,898)			$	52,894,659
		OTHER ASSETS IN EXCESS OF LIABILITIES - 0.7%				374,894
		NET ASSETS - 100.0%			$	53,269,553

(a)	Security is 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 March 31, 2025, the total market value of 144A securities is 13,458,511 or 25.3% of net assets.
(b)	Rate disclosed is the seven-day effective yield as of March 31, 2025.
(c)	Security in default. Non income producing.

CATALYST SYSTEMATIC ALPHA FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)

March 31, 2025

Shares					Fair Value
		OPEN END FUNDS — 10.9%
		FIXED INCOME – 10.9%
	265,046	Catalyst International Income Opportunities Fund(a)(f)			$	32,216,578
		TOTAL OPEN END FUNDS (Cost $30,000,000)
Principal Amount ($)			Coupon Rate (%)	Maturity
		CONVERTIBLE BONDS — 0.2%
		ASSET MANAGEMENT — 0.1%
	225,000	New Mountain Finance Corporation	7.5000	10/15/25		227,925
		SPECIALTY FINANCE — 0.1%
	225,000	Two Harbors Investment Corporation	6.2500	01/15/26		223,313
		TOTAL CONVERTIBLE BONDS (Cost $424,260)				451,238
		CORPORATE BONDS — 40.1%
		AEROSPACE & DEFENSE — 4.8%
	14,090,000	RTX Corporation	3.9500	08/16/25		14,058,440
		BEVERAGES — 3.0%
	9,000,000	Constellation Brands, Inc.	5.0000	02/02/26		8,995,751
		BIOTECH & PHARMA — 2.2%
	6,500,000	Gilead Sciences, Inc.	3.6500	03/01/26		6,452,119
		FOOD — 3.6%
	10,960,000	Kraft Heinz Foods Company	3.0000	06/01/26		10,765,206
		INSTITUTIONAL FINANCIAL SERVICES — 0.3%
	800,000	Goldman Sachs Group, Inc. (The)	3.7500	05/22/25		798,981
		INTERNET MEDIA & SERVICES — 4.4%
	12,950,000	VeriSign, Inc.	5.2500	04/01/25		12,950,000

CATALYST SYSTEMATIC ALPHA FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

March 31, 2025

Principal Amount ($)			Coupon Rate (%)	Maturity	Fair Value
		CORPORATE BONDS — 40.1% (Continued)
		LEISURE FACILITIES & SERVICES — 3.7%
	11,000,000	McDonald's Corporation	3.7000	01/30/26	$	10,929,442
		RETAIL - DISCRETIONARY — 4.3%
	12,700,000	Lowe's Companies, Inc.	4.4000	09/08/25		12,698,861
		SEMICONDUCTORS — 4.4%
	13,000,000	Intel Corporation	4.8750	02/10/26		13,017,250
		SOFTWARE — 4.7%
	14,030,000	Oracle Corporation	2.9500	05/15/25		13,998,553
		TECHNOLOGY SERVICES — 4.7%
	14,000,000	International Business Machines Corporation	3.3000	05/15/26		13,849,399
		TOTAL CORPORATE BONDS (Cost $118,157,628)				118,514,002
		U.S. GOVERNMENT & AGENCIES — 48.8%
		U.S. TREASURY BILLS — 48.8%
	1,500,000	United States Treasury Bill(b),(d),(e)	4.2500	04/17/25		1,497,170
	16,000,000	United States Treasury Bill(b),(d),(e)	4.2450	05/15/25		15,917,231
	84,380,000	United States Treasury Bill(b),(d),(e)	4.1750	07/10/25		83,398,086
	15,000,000	United States Treasury Bill(b),(d),(e)	4.2200	08/07/25		14,778,667
	9,000,000	United States Treasury Bill(b),(d),(e)	4.0700	10/02/25		8,813,019
	21,000,000	United States Treasury Bill(b),(d)	4.0500	02/19/26		20,263,373
		TOTAL U.S. GOVERNMENT & AGENCIES (Cost $144,618,174)				144,667,546

CATALYST SYSTEMATIC ALPHA FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

March 31, 2025

Shares			Fair Value
		SHORT-TERM INVESTMENTS — 10.4%
		MONEY MARKET FUNDS – 10.4%
	30,759,594	First American Treasury Obligations Fund, Class X, 4.25% (Cost $30,759,594)(c)(e)	$	30,759,594
		TOTAL INVESTMENTS – 110.4% (Cost $323,959,656)	$	326,608,958
		LIABILITIES IN EXCESS OF OTHER ASSETS – (10.4)%		(30,826,359	)
		NET ASSETS - 100.0%	$	293,782,599

(a)	Non-income producing security.
(b)	Zero coupon bond. Discount rate shown.
(c)	Rate disclosed is the seven day effective yield as of March 31, 2025.
(d)	This security is segregated as Collateral for a Swap Contract.
(e)	All or a portion of this investment is a holding of the CSACS Fund Limited.
(f)	Affiliated issuer.

CATALYST SYSTEMATIC ALPHA FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

March 31, 2025

TOTAL RETURN SWAPS - (10.2) %

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	Frequency	Notional Amount	Counterparty	Maturity	Pay/Receive Fixed Rate	Upfront Payments	Unrealized Appreciation/ (Depreciation)
43,620	BNP Paribas Catalyst Systematic Alpha Non-Commodities Index	Monthly	(190,653,249)	BNP Paribas	1/12/2026	0.1500%-0.3000%	-	$             (26,727,021)
43,620	BNP Paribas Catalyst Systematic Alpha Commodities Index +	Monthly	(196,229,630)	BNP Paribas	1/12/2026	0.1500%-0.3000%	-	(4,198,381)
5,350	CIBC Multi Asset Systematic Alpha Index +	Monthly	(15,025,281)	CIBC	4/30/2026	0.1000%	-	-
16,522	Barclays BEFSRPPM Index**	Maturity	(10,000,000)	Barclays	4/7/2026	0.0000%	-	80,550
179,083	Custom Asset Series X1 Excess Return Strategy	Monthly	(15,782,585)	Goldman Sachs	2/12/2026	1.0690%	-	395,773
179,083	Custom Asset Series X2 Excess Return Strategy +	Monthly	(3,291,546)	Goldman Sachs	2/12/2026	0.7170%	-	196,991
8,197	J.P. Morgan XRJPCT12 Index +	Monthly	(20,000,000)	JP Morgan	12/3/2025	0.2800%	-	256,663
								$             (29,995,425)

+ 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#constituents

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

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

CATALYST SYSTEMATIC ALPHA FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

March 31, 2025

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.

Index Options
Name	Call/Put	Exercise Price	Expiration Date	Contracts	Notional	Market Value
S&P 500 Index	Call	$            6,190	5/30/2025	(0.44)	(459,934,887)	(90)
S&P 500 Index	Call	6,185	5/30/2025	(0.70)	(725,572,885)	(156)
S&P 500 Index	Call	6,180	5/30/2025	(0.50)	(519,666,876)	(113)
S&P 500 Index	Call	6,170	5/30/2025	(0.32)	(330,205,310)	(74)
S&P 500 Index	Call	6,155	5/30/2025	(0.43)	(443,626,400)	(131)
S&P 500 Index	Call	6,080	5/30/2025	(0.51)	(529,771,020)	(541)
S&P 500 Index	Call	6,055	5/30/2025	(0.73)	(762,108,415)	(1,339)
S&P 500 Index	Call	6,250	6/6/2025	(0.76)	(785,225,901)	(501)
S&P 500 Index	Call	6,125	6/6/2025	(0.25)	(264,620,977)	(1,024)
S&P 500 Index	Call	5,590	6/20/2025	0.25	262,972,050	127,707
S&P 500 Index	Put	5,535	6/20/2025	(0.50)	(523,897,444)	(42,724)
S&P 500 Index	Put	5,485	6/20/2025	(0.25)	(256,902,167)	(17,864)
S&P 500 Index	Put	4,930	6/20/2025	(0.21)	(214,418,757)	(3,233)
S&P 500 Index	Put	4,500	6/20/2025	0.24	245,934,641	1,698
S&P 500 Index	Put	4,425	6/20/2025	0.25	264,316,092	1,618
S&P 500 Index	Put	4,410	6/20/2025	0.25	256,902,167	1,539
S&P 500 Index	Put	4,400	6/20/2025	0.30	312,129,214	1,830
S&P 500 Index	Put	3,400	6/20/2025	0.37	386,366,517	503
S&P 500 Index	Put	3,250	6/20/2025	0.28	291,971,114	281
S&P 500 Index	Put	3,000	6/20/2025	0.30	309,174,605	214
S&P 500 Index	Put	2,900	6/20/2025	0.37	382,945,938	227
S&P 500 Index	Put	3,925	7/18/2025	0.34	348,863,339	2,980
S&P 500 Index	Put	2,700	7/18/2025	0.44	458,150,687	824
S&P 500 Index	Put	3,600	8/15/2025	0.26	267,738,567	3,201
S&P 500 Index	Put	2,700	8/15/2025	0.22	225,529,714	922
Interest Rate Swaps
Name		Interest Rate	Maturity Date	Contracts	Notional	Market Value
2yr Point On Colombian Peso		0.0820	6/8/2027	(1,745.64)	(312,614,183.11)	1,117.14
2yr Point On Colombian Peso		0.0815	8/6/2027	(1,728.87)	(309,611,909.89)	206.19
2yr Point On Colombian Peso		0.0814	9/7/2027	(1,727.27)	(309,325,468.30)	275.03
2yr Point On Colombian Peso		0.0811	11/8/2027	(1,731.35)	(310,056,210.73)	592.78
2yr Point On Colombian Peso		0.0817	7/9/2027	(1,719.97)	(308,018,192.38)	19.37
2yr Point On Colombian Peso		0.0812	10/8/2027	(1,729.71)	(309,761,167.06)	248.15
2yr Point On Colombian Peso		0.0820	6/11/2027	(1,748.95)	(313,207,680.50)	1,084.78
2yr Point On Colombian Peso		0.0815	8/13/2027	(1,726.88)	(309,254,647.79)	44.58
2yr Point On Colombian Peso		0.0813	9/10/2027	(1,729.04)	(309,642,538.57)	229.57
2yr Point On Colombian Peso		0.0812	11/16/2027	(1,730.36)	(309,878,738.15)	273.45
2yr Point On Colombian Peso		0.0817	7/16/2027	(1,719.35)	(307,906,832.10)	(404.29)
2yr Point On Colombian Peso		0.0812	10/18/2027	(1,729.07)	(309,646,709.11)	410.81
2yr Point On Colombian Peso		0.0819	6/18/2027	(1,735.21)	(310,745,827.44)	520.93
2yr Point On Colombian Peso		0.0813	9/17/2027	(1,726.19)	(309,131,588.37)	146.40
2yr Point On Colombian Peso		0.0814	8/23/2027	(1,720.30)	(308,076,991.85)	(108.72)
2yr Point On Colombian Peso		0.0812	11/22/2027	(1,725.37)	(308,985,020.61)	194.30
2yr Point On Colombian Peso		0.0816	7/23/2027	(1,721.23)	(308,243,539.15)	212.89
2yr Point On Colombian Peso		0.0812	10/22/2027	(1,732.16)	(310,200,279.04)	556.48
2yr Point On Colombian Peso		0.0818	6/28/2027	(1,734.23)	(310,571,090.38)	198.89
2yr Point On Colombian Peso		0.0814	8/30/2027	(1,723.17)	(308,590,341.84)	76.53
2yr Point On Colombian Peso		0.0813	9/24/2027	(1,721.86)	(308,355,708.83)	17.17
2yr Point On Colombian Peso		0.0815	7/30/2027	(1,731.38)	(310,060,212.98)	292.08
2yr Point On Colombian Peso		0.0812	10/29/2027	(1,732.00)	(310,172,077.02)	424.77
2yr Point On Colombian Peso		0.0818	7/6/2027	(1,717.20)	(307,520,714.68)	(182.90)
2yr Point On Colombian Peso		0.0812	10/1/2027	(1,715.46)	(307,209,710.74)	(204.44)

CATALYST SYSTEMATIC ALPHA FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

March 31, 2025

The following table represents the individual positions and related values of underlying securities of the Custom Asset Series X2 Excess Return Strategy Total Return Swap.

Future Options
Name	Call/Put	Exercise Price	Expiration Date	Contracts	Notional	Market Value
Copper Future June 2025	Put	$              4.70	5/27/2025	(7,975.69)	(6,908,021,909.73)	(514.19)
Copper Future July 2025	Call	4.80	6/25/2025	(6,495.39)	(5,625,880,366.76)	(8,561.25)
Copper Future June 2025	Call	4.90	5/27/2025	(6,285.50)	(5,444,091,193.69)	(1,148.14)
Copper Future July 2025	Put	4.65	6/25/2025	(5,625.92)	(4,872,802,527.39)	(3,425.52)
Copper Future June 2025	Put	4.80	5/27/2025	(5,422.84)	(4,696,914,294.97)	(1,262.48)
Copper Future June 2025	Put	4.60	5/27/2025	(5,277.82)	(4,571,307,161.66)	(113.42)
Copper Future July 2025	Call	4.70	6/25/2025	(5,263.59)	(4,558,976,633.85)	(9,011.44)
Copper Future June 2025	Call	4.80	5/27/2025	(5,144.99)	(4,456,252,529.84)	(2,543.01)
Copper Future July 2025	Call	4.90	6/25/2025	(5,024.65)	(4,352,024,821.17)	(5,021.05)
Copper Future July 2025	Put	4.70	6/25/2025	(4,975.62)	(4,309,562,533.08)	(3,671.13)
Copper Future July 2025	Put	4.50	6/25/2025	(4,802.72)	(4,159,803,512.68)	(1,548.15)
Copper Future July 2025	Put	4.55	6/25/2025	(4,640.18)	(4,019,023,828.46)	(1,861.39)
Copper Future June 2025	Put	4.90	5/27/2025	(4,566.47)	(3,955,177,684.24)	(2,911.29)
Copper Future June 2025	Put	4.65	5/27/2025	(4,533.48)	(3,926,605,425.25)	(162.37)
Copper Future June 2025	Call	4.75	5/27/2025	(4,293.08)	(3,718,387,752.19)	(3,198.28)
Copper Future July 2025	Put	4.60	6/25/2025	(4,107.00)	(3,557,220,476.20)	(2,044.68)
Copper Future June 2025	Put	4.55	5/27/2025	(4,053.93)	(3,511,250,277.01)	(58.08)
Soybean Future July 2025	Call	1,090.00	6/20/2025	(1,810.00)	(3,436,705,542.97)	(5,186.26)
Copper Future July 2025	Call	4.95	6/25/2025	(3,956.22)	(3,426,616,443.93)	(3,429.10)
Copper Future June 2025	Call	5.00	5/27/2025	(3,909.30)	(3,385,984,095.42)	(238.03)
Copper Future June 2025	Call	4.95	5/27/2025	(3,779.32)	(3,273,405,329.90)	(379.02)
Copper Future June 2025	Call	5.15	5/27/2025	(3,758.40)	(3,255,277,661.69)	(67.31)
Soybean Future July 2025	Call	1,080.00	6/20/2025	(1,633.44)	(3,101,462,241.47)	(6,216.09)
Copper Future June 2025	Call	4.70	5/27/2025	(3,520.77)	(3,049,461,568.36)	(3,669.57)
Copper Future July 2025	Call	4.65	6/25/2025	(3,236.36)	(2,803,124,553.67)	(6,282.62)
Copper Future June 2025	Call	4.65	5/27/2025	(3,146.81)	(2,725,561,336.82)	(4,316.72)
Copper Future June 2025	Put	4.50	5/27/2025	(3,084.68)	(2,671,752,358.33)	(33.14)
Copper Future June 2025	Call	5.05	5/27/2025	(3,016.04)	(2,612,297,361.77)	(118.83)
Copper Future July 2025	Put	4.40	6/25/2025	(2,935.90)	(2,542,886,203.89)	(599.38)
Copper Future July 2025	Put	4.80	6/25/2025	(2,867.62)	(2,483,742,587.27)	(3,029.89)
Copper Future July 2025	Put	4.45	6/25/2025	(2,700.72)	(2,339,185,515.39)	(696.46)
Soybean Future July 2025	Call	1,100.00	6/20/2025	(1,207.10)	(2,291,950,938.86)	(2,594.05)
Soybean Future July 2025	Call	1,120.00	6/20/2025	(1,198.27)	(2,275,190,598.70)	(1,448.48)
Copper Future July 2025	Call	4.85	6/25/2025	(2,612.87)	(2,263,094,087.19)	(3,004.05)
Copper Future July 2025	Call	4.75	6/25/2025	(2,595.29)	(2,247,868,133.43)	(3,913.38)
Copper Future June 2025	Put	4.45	5/27/2025	(2,581.68)	(2,236,080,825.95)	(18.49)
Soybean Future July 2025	Call	1,070.00	6/20/2025	(1,145.80)	(2,175,567,521.38)	(5,796.73)
Copper Future June 2025	Put	4.85	5/27/2025	(2,462.44)	(2,132,806,029.49)	(996.62)
Copper Future June 2025	Call	5.20	5/27/2025	(2,455.58)	(2,126,861,414.69)	(17.59)
Copper Future June 2025	Put	5.05	5/27/2025	(2,386.04)	(2,066,634,629.46)	(3,743.14)
Copper Future June 2025	Call	5.10	5/27/2025	(2,338.89)	(2,025,797,410.04)	(58.64)
Copper Future June 2025	Call	4.85	5/27/2025	(2,271.16)	(1,967,134,253.81)	(699.57)
Copper Future July 2025	Call	5.10	6/25/2025	(2,218.32)	(1,921,368,674.45)	(1,207.68)
Corn Future July 2025	Call	490.00	6/20/2025	(2,287.91)	(1,882,694,028.11)	(2,151.06)
Soybean Future July 2025	Call	1,130.00	6/20/2025	(991.26)	(1,882,139,920.46)	(931.97)
Copper Future August 2025	Call	5.05	7/28/2025	(2,125.75)	(1,861,173,473.86)	(2,489.69)
Corn Future July 2025	Call	470.00	6/20/2025	(2,226.15)	(1,831,867,866.51)	(5,581.32)
Corn Future July 2025	Call	505.00	6/20/2025	(2,209.93)	(1,818,525,004.54)	(1,088.34)
Copper Future August 2025	Call	4.75	7/28/2025	(1,996.68)	(1,748,165,329.56)	(4,305.16)
Copper Future June 2025	Put	4.95	5/27/2025	(2,018.29)	(1,748,108,088.22)	(1,843.35)

CATALYST/ASPECT ENHANCED MULTI-ASSET FUND

SCHEDULE OF INVESTMENTS (Unaudited)

March 31, 2025

Shares			Fair Value
		EXCHANGE-TRADED FUNDS — 41.3%
		FIXED INCOME - 41.3%
	125,169	iShares Core U.S. Aggregate Bond ETF	$	12,381,717
		TOTAL EXCHANGE-TRADED FUNDS (Cost $12,323,104)
		SHORT-TERM INVESTMENTS — 36.5%
		MONEY MARKET FUNDS - 36.5%
	10,956,479	First American Treasury Obligations Fund, Class X, 4.25%(a)		10,956,479
		TOTAL SHORT-TERM INVESTMENTS (Cost $10,956,479)
		TOTAL INVESTMENTS - 77.8% (Cost $23,279,583)	$	23,338,196
		OTHER ASSETS IN EXCESS OF LIABILITIES - 22.2%		6,676,593
		NET ASSETS - 100.0%	$	30,014,789

OPEN FUTURES CONTRACTS

Number of Contracts		Open Long Futures Contracts	Expiration	Notional Amount(b)		Value and Unrealized Appreciation (Depreciation)
	3	3 Month Euro Euribor Future	09/15/2025	$	794,994	$	(40	)
	17	3 Month Euro Euribor Future	12/15/2025		4,507,721		(584	)
	15	3 Month Euro Euribor Future	03/16/2026		3,977,808		(343	)
	12	3 Month Euro Euribor Future	06/15/2026		3,181,435		(643	)
	10	3 Month Euro Euribor Future	09/14/2026		2,649,708		(692	)
	9	3 Month Euro Euribor Future	12/15/2026		2,383,033		(1,635	)
	7	3 Month Euro Euribor Future	03/16/2027		1,852,050		(1,155	)
	5	3 Month Euro Euribor Future	06/15/2027		1,321,879		(1,359	)
	3	3 Month Euro Euribor Future	09/14/2027		792,559		(564	)
	17	3-Month CORRA Futures	12/17/2025		2,885,939		4,343
	17	3-Month CORRA Futures	03/18/2026		2,888,154		3,282
	16	3-Month CORRA Futures	06/17/2026		2,718,263		2,228
	14	3-Month CORRA Futures	09/16/2026		2,377,994		(308	)
	8	3-Month CORRA Futures	12/16/2026		1,358,298		(438	)
	5	3-Month CORRA Futures	03/17/2027		848,588		(808	)
	6	CBOT 2 Year US Treasury Note Future	07/01/2025		1,243,031		320
	4	CBOT 5 Year US Treasury Note Future	07/01/2025		432,625		273
	1	CME British Pound Currency Future	06/17/2025		80,694		(375	)
	62	CME E-Mini Standard & Poor's 500 Index Future	06/23/2025		17,525,076		(119,350	)
	2	CME Feeder Cattle Future(c)	05/23/2025		284,500		11,012

CATALYST/ASPECT ENHANCED MULTI-ASSET FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

March 31, 2025

OPEN FUTURES CONTRACTS (Continued)

Number of Contracts		Open Long Futures Contracts	Expiration	Notional Amount(b)		Value and Unrealized Appreciation (Depreciation)
	4	CME Feeder Cattle Future(c)	08/29/2025	$	579,000	$	5,837
	2	CME Lean Hogs Future(c)	06/16/2025		76,220		(2,810	)
	15	CME Live Cattle Future(c)	07/01/2025		1,221,900		43,761
	12	CME Live Cattle Future(c)	09/02/2025		960,120		17,450
	8	CME Live Cattle Future(c)	11/03/2025		636,080		2,470
	16	COMEX Copper Future(c)	05/29/2025		2,013,600		37,786
	14	COMEX Gold 100 Troy Ounces Future(c)	06/27/2025		4,410,420		136,760
	2	COMEX Silver Future(c)	05/29/2025		346,110		9,180
	44	Eurex 2 Year Euro SCHATZ Future	06/09/2025		5,091,442		(794	)
	1	Eurex DAX Index Future	06/23/2025		605,215		(30,790	)
	14	Eurex EURO STOXX 50 Future	06/23/2025		785,957		(30,060	)
	4	Euro-BTP Italian Bond Futures	06/09/2025		508,579		(2,910	)
	3	Euronext CAC 40 Index Future	04/21/2025		253,278		(8,831	)
	72	EUX Short Term Euro-BTP Future	06/09/2025		8,373,126		35
	10	FTSE 100 Index Future	06/23/2025		1,109,977		(19,122	)
	5	FTSE/MIB Index Future	06/23/2025		1,009,791		(28,223	)
	1	Future on STOXX Europe 600 ESG-X	06/23/2025		21,010		(581	)
	19	HKG Hang Seng China Enterprises Index Future	04/30/2025		1,040,092		(20,949	)
	8	HKG Hang Seng Index Future	04/30/2025		1,190,682		(21,938	)
	5	ICE US mini MSCI EAFE Index Future	06/23/2025		604,075		(20,450	)
	3	ICE US MSCI Emerging Markets EM Index Future	06/23/2025		166,620		(4,760	)
	2	LME Copper Future(c)	06/17/2025		485,365		(2,186	)
	3	MDE Crude Palm Oil Future(c)	06/16/2025		74,691		73
	23	Montreal Exchange 10 Year Canadian Bond Future	06/20/2025		1,984,523		(9,128	)
	46	Montreal Exchange 2 Year Canadian Bond Future	06/20/2025		3,384,798		5,849
	21	Montreal Exchange 5 Year Canadian Bond Future	06/20/2025		1,691,839		1,427
	4	Montreal Exchange S&P/TSX 60 Index Future	06/20/2025		832,659		(993	)
	8	NYBOT CSC C Coffee Future(c)	07/22/2025		1,126,200		(38,587	)
	5	NYBOT CSC C Coffee Future(c)	09/19/2025		694,406		(113	)
	1	NYBOT CSC Cocoa Future(c)	07/17/2025		78,880		(660	)
	1	NYBOT CSC Cocoa Future(c)	09/16/2025		77,980		(2,220	)
	3	NYBOT CSC Number 11 World Sugar Future(c)	07/01/2025		62,664		(1,176	)
	6	NYMEX Henry Hub Natural Gas Future(c)	04/29/2025		247,140		(10,690	)
	3	NYMEX Henry Hub Natural Gas Future(c)	05/29/2025		127,710		(14,930	)
	16	OML Stockholm OMXS30 Index Future	04/17/2025		394,103		(30,250	)
	1	Robusta Coffee Future 10-Tonne(c)	07/28/2025		52,950		(930	)
	8	SAFEX FTSE/JSE Top 40 Index Future	06/20/2025		358,716		(1,659	)
	7	SFE 90 Day Australian Bank Accepted Bills Future	12/12/2025		4,336,918		587
	9	SFE 90 Day Australian Bank Accepted Bills Future	03/13/2026		5,576,718		1,480
	8	SFE 90 Day Australian Bank Accepted Bills Future	06/12/2026		4,957,204		1,284
	6	SFE 90 Day Australian Bank Accepted Bills Future	09/11/2026		3,717,631		890
	3	SFE 90 Day Australian Bank Accepted Bills Future	12/11/2026		1,858,634		209
	5	SGX MSCI Singapore Index Future	04/30/2025		145,050		(1,181	)
	8	Three Month SONIA Index Future	03/17/2026		2,482,075		(840	)
	8	Three Month SONIA Index Future	06/16/2026		2,483,626		(103	)
	5	Three Month SONIA Index Future	09/15/2026		1,552,750		(337	)
	3	Three Month SONIA Index Future	12/15/2026		931,699		77
	3	Three-Month SOFR Future	06/16/2026		723,713		75

CATALYST/ASPECT ENHANCED MULTI-ASSET FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

March 31, 2025

OPEN FUTURES CONTRACTS (Continued)

Number of Contracts		Open Long Futures Contracts	Expiration	Notional Amount(b)		Value and Unrealized Appreciation (Depreciation)
	3	Three-Month SOFR Futures	09/15/2026	$	724,163	$	438
	4	Three-Month SOFR Futures	12/16/2026		965,750		437
	3	Three-Month SOFR Futures	03/17/2027		724,238		400
	3	Three-Month SOFR Futures	06/16/2027		724,088		638
	2	Three-Month SOFR Futures	09/15/2027		482,575		612
	1	Three-Month SOFR Futures	12/15/2027		241,213		313
	3	TSE TOPIX (Tokyo Price Index) Future	06/13/2025		532,556		(16,047	)
		TOTAL LONG FUTURES CONTRACTS				$	(163,016	)

OPEN FUTURES CONTRACTS (Continued)

Number of Contracts		Open Short Futures Contracts	Expiration	Notional Amount(b)		Value and Unrealized Appreciation (Depreciation)
	1	Carbon Emissions Future(c)	12/16/2025	$	73,548	$	2,207
	6	CBOT Corn Future(c)	07/15/2025		138,975		(1,050	)
	12	CBOT Soybean Future(c)	05/15/2025		608,850		2,300
	14	CBOT Soybean Meal Future(c)	05/15/2025		409,780		5,640
	14	CBOT Soybean Meal Future(c)	07/15/2025		419,160		2,450
	2	CBOT Soybean Oil Future(c)	07/15/2025		54,468		(3,444	)
	4	CBOT US Treasury Bond Future	06/19/2025		469,125		(625	)
	11	CBOT Wheat Future(c)	05/15/2025		295,350		2,450
	8	CBOT Wheat Future(c)	07/15/2025		220,200		1,450
	1	CME Australian Dollar Currency Future	06/17/2025		62,535		530
	2	CME Canadian Dollar Currency Future	06/18/2025		139,660		13
	2	CME E-mini Russell 2000 Index Future	06/23/2025		202,710		1,033
	1	CME Lean Hogs Future(c)	07/16/2025		38,330		1,160
	1	CME New Zealand Dollar Currency Future	06/17/2025		56,870		525
	1	CME Swiss Franc Currency Future	06/17/2025		142,588		731
	13	Eurex 10 Year Euro BUND Future	06/09/2025		1,811,955		(10,501	)
	6	Eurex 30 Year Euro BUXL Future	06/09/2025		774,164		38,689
	1	Eurex 5 Year Euro BOBL Future	06/09/2025		127,437		(932	)
	13	Euronext Milling Wheat Future(c)	05/13/2025		154,887		2,325
	5	French Government Bond Future	06/09/2025		663,691		(5,841	)
	1	ICE Gas Oil Future(c)	05/13/2025		68,200		(3,600	)
	1	ICE Gas Oil Future(c)	06/13/2025		67,675		(3,125	)
	9	IFSC NIFTY 50 Index Future	04/25/2025		420,633		4,689
	7	KCBT Hard Red Winter Wheat Future(c)	05/15/2025		194,950		(100	)
	1	LME Lead Future(c)	06/17/2025		50,248		(464	)
	4	LME Nickel Future(c)	06/17/2025		381,342		(3,069	)
	1	LME Primary Aluminum Future(c)	06/17/2025		63,258		240
	29	Long Gilt Future	06/27/2025		3,435,103		32,138
	3	MGE Red Wheat Future(c)	05/15/2025		88,800		1,875
	14	NYBOT CTN Number 2 Cotton Future(c)	05/08/2025		467,810		(5,740	)
	1	NYBOT CTN Number 2 Cotton Future(c)	07/10/2025		33,995		(310	)
	1	NYMEX NY Harbor ULSD Futures(c)	06/02/2025		94,882		(117	)
	1	NYMEX Reformulated Gasoline Blendstock for Oxygen(c)	06/02/2025		95,781		(9	)
	20	SFE 10 Year Australian Bond Future	06/17/2025		1,408,069		(7,248	)

CATALYST/ASPECT ENHANCED MULTI-ASSET FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

March 31, 2025

OPEN FUTURES CONTRACTS (Continued)

Number of Contracts		Open Short Futures Contracts	Expiration	Notional Amount(b)		Value and Unrealized Appreciation (Depreciation)
	12	SFE 3 Year Australian Bond Future	06/17/2025	$	798,677	$	(1,438	)
	6	SFE 90 Day Australian Bank Accepted Bills Future	09/11/2025		3,716,359		(540	)
	6	SFE 90 Day Australian Bank Accepted Bills Future	06/12/2025		3,713,999		(52	)
	1	SFE S&P ASX Share Price Index 200 Future	06/20/2025		123,063		346
	1	SGX FTSE China A50 Futures Contract	04/30/2025		13,334		(23	)
	98	SGX Mini Japan Government 10 Year Bond Future	06/13/2025		9,040,866		(23,050	)
	42	TEF SET50 Index Future	06/30/2025		180,657		4,175
	1	Three Month SONIA Index Future	06/16/2027		310,502		(308	)
	3	Three Month SONIA Index Future	09/15/2027		931,360		(546	)
	15	Three Month SONIA Index Future	12/16/2025		4,648,805		(793	)
	4	Three Month SONIA Index Future	12/15/2027		1,241,619		313
	13	Three-Month SOFR Future	12/16/2025		3,126,175		1,800
	7	TurkDEX ISE 30 Future	05/01/2025		20,091		789
	6	Ultra U.S. Treasury Bond Future	06/19/2025		733,500		70
	5	WCE Canola Future(c)	07/15/2025		43,013		(2,346	)
		TOTAL SHORT FUTURES CONTRACTS				$	32,667
		TOTAL FUTURES CONTRACTS				$	(130,349	)

OPEN CURRENCY CONTRACTS

Foreign Currency	Settlement Date	Counterparty	Local Currency		U.S. Dollar Value		Unrealized Appreciation/(Depreciation)
To Buy:
Brazilian Real	04/02/2025	Deutsche Bank		5,225,810	$	915,766	$	6,989
Australian Dollar	04/16/2025	Deutsche Bank		1,050,000		656,250		(9,397	)
British Pound	04/16/2025	Deutsche Bank		700,000		904,281		(1,937	)
Canadian Dollar	04/16/2025	Deutsche Bank		858,860		597,370		(2,630	)
Euro	04/16/2025	Deutsche Bank		400,000		433,136		(3,957	)
Israeli Shekel	04/16/2025	Deutsche Bank		1,084,917		291,789		(8,211	)
Japanese Yen	04/16/2025	Deutsche Bank		44,332,234		296,168		(3,832	)
Mexican Peso	04/16/2025	Deutsche Bank		21,189,767		1,033,044		(16,956	)
New Zealand Dollar	04/16/2025	Deutsche Bank		1,150,000		653,384		(11,080	)
Singapore Dollar	04/16/2025	Deutsche Bank		266,029		198,187		(1,813	)
South African Rand	04/16/2025	Deutsche Bank		18,263,343		995,115		(4,884	)
South Korean Won	04/16/2025	Deutsche Bank		290,674,800		197,415		(2,585	)
Swiss Franc	04/16/2025	Deutsche Bank		658,777		746,221		(3,779	)
USD	04/16/2025	Deutsche Bank		2,889,767		398,242		(1,758	)
Brazilian Real	05/05/2025	Deutsche Bank		577,064		100,451		451
Thailand Baht	05/21/2025	Deutsche Bank		28,546,265		842,523		(7,476	)

CATALYST/ASPECT ENHANCED MULTI-ASSET FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

March 31, 2025

OPEN CURRENCY CONTRACTS (Continued)

Foreign Currency	Settlement Date	Counterparty	Local Currency		U.S. Dollar Value		Unrealized Appreciation/(Depreciation)
To Buy: (continued)
Chilean Peso	06/18/2025	Deutsche Bank		603,201,755	$	634,239	$	(15,761	)
Columbian Peso	06/18/2025	Deutsche Bank		1,880,512,344		445,566		(4,434	)
Indian Rupee	06/18/2025	Deutsche Bank		82,486,585		959,663		9,663
Indonesia Rupiah	06/18/2025	Deutsche Bank		1,643,183,754		98,256		(1,744	)
Peruvian Sole	06/18/2025	Deutsche Bank		2,553,148		693,631		(6,368	)
Philippine Peso	06/18/2025	Deutsche Bank		8,606,136		150,054		54
Taiwanese Dollar	06/18/2025	Deutsche Bank		1,632,297		49,355		(645	)
					$	12,290,106	$	(92,090	)
To Sell:
Brazilian Real	04/02/2025	Deutsche Bank		5,225,815	$	915,767	$	(15,767	)
Australian Dollar	04/16/2025	Deutsche Bank		3,700,000		2,312,508		22,086
British Pound	04/16/2025	Deutsche Bank		50,000		64,591		(9	)
Canadian Dollar	04/16/2025	Deutsche Bank		4,971,183		3,457,662		(7,663	)
CNH	04/16/2025	Deutsche Bank		15,903,675		2,191,704		8,295
Euro	04/16/2025	Deutsche Bank		650,000		703,843		5,021
Israeli Shekel	04/16/2025	Deutsche Bank		1,285,769		345,810		4,190
Japanese Yen	04/16/2025	Deutsche Bank		140,448,773		938,286		11,714
Mexican Peso	04/16/2025	Deutsche Bank		26,395,836		1,286,856		13,143
New Zealand Dollar	04/16/2025	Deutsche Bank		3,800,000		2,158,989		11,695
Singapore Dollar	04/16/2025	Deutsche Bank		400,591		298,434		1,566
South African Rand	04/16/2025	Deutsche Bank		2,748,954		149,782		218
South Korean Won	04/16/2025	Deutsche Bank		3,691,202,849		2,506,929		43,070
Swiss Franc	04/16/2025	Deutsche Bank		2,063,500		2,337,400		12,598
Brazilian Real	05/05/2025	Deutsche Bank		289,556		50,404		(404	)
Thailand Baht	05/21/2025	Deutsche Bank		13,553,250		400,015		(15	)
Chilean Peso	06/18/2025	Deutsche Bank		188,518,021		198,218		1,782
Columbian Peso	06/18/2025	Deutsche Bank		422,897,590		100,201		(201	)
Indian Rupee	06/18/2025	Deutsche Bank		105,187,320		1,223,763		(23,764	)
Indonesia Rupiah	06/18/2025	Deutsche Bank		8,250,468,234		493,345		6,655
Peruvian Sole	06/18/2025	Deutsche Bank		182,772		49,655		345
Taiwanese Dollar	06/18/2025	Deutsche Bank		37,667,535		1,138,940		11,059
					$	23,323,102	$	105,614
Total							$	13,524

CATALYST/ASPECT ENHANCED MULTI-ASSET FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

March 31, 2025

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	4/16/2025	Deutsche Bank		5,267,611		6,250,000		6,804,827		(6,767,726	)	$	37,101
Czech Koruna	Euro	4/16/2025	Deutsche Bank		17,493,627		700,000		758,155		(757,985	)		170
Euro	British Pound	4/16/2025	Deutsche Bank		1,750,000		1,474,978		1,894,970		(1,905,412	)		(10,442	)
Euro	Czech Koruna	4/16/2025	Deutsche Bank		150,000		3,756,486		162,426		(162,802	)		(376	)
Euro	Hungarian Forints	4/16/2025	Deutsche Bank		200,000		80,430,349		216,568		(215,755	)		813
Euro	Japanese Yen	4/16/2025	Deutsche Bank		750,000		121,282,373		812,130		(810,245	)		1,885
Euro	Polish Zloty	4/16/2025	Deutsche Bank		850,000		3,571,638		920,414		(921,829	)		(1,415	)
Euro	Swedish Krona	4/16/2025	Deutsche Bank		300,000		3,298,099		324,852		(328,482	)		(3,630	)
Euro	Swiss Franc	4/16/2025	Deutsche Bank		800,000		763,695		866,272		(865,064	)		1,208
Hungarian Forints	Euro	4/16/2025	Deutsche Bank		520,912,717		1,300,000		1,397,343		(1,407,686	)		(10,343	)
Japanese Yen	Euro	4/16/2025	Deutsche Bank		79,962,845		500,000		534,203		(541,417	)		(7,214	)
Norwegian Krone	Euro	4/16/2025	Deutsche Bank		70,885,886		6,150,000		6,738,644		(6,659,456	)		79,188
Polish Zloty	Euro	4/16/2025	Deutsche Bank		11,560,343		2,750,000		2,983,684		(2,977,798	)		5,886
Swedish Krona	Euro	4/16/2025	Deutsche Bank		53,474,927		4,900,000		5,325,955		(5,305,897	)		20,058
Swiss Franc	Euro	4/16/2025	Deutsche Bank		380,992		400,000		431,564		(433,136	)		(1,572	)
					764,738,948		237,527,618	$	30,172,007	$	30,060,690		$	111,317
Total													$	124,841

(a)	Rate disclosed is the seven day effective yield as of March 31, 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)

March 31, 2025

Shares			Fair Value
		COMMON STOCKS — 100.0%
		OIL & GAS PRODUCERS - 100.0%
	186,817	Cheniere Energy, Inc.	$	43,229,454
	144,025	DT Midstream, Inc.		13,895,532
	397,238	Enbridge, Inc.		17,601,616
	2,072,055	Energy Transfer, L.P.		38,519,502
	555,691	Enterprise Products Partners, L.P.		18,971,291
	207,931	Hess Midstream, L.P., Class A		8,793,402
	647,808	Kinder Morgan, Inc.		18,481,962
	270,487	Kinetik Holdings, Inc.		14,049,095
	348,909	MPLX, L.P.		18,673,610
	908,485	New Fortress Energy, Inc.		7,549,510
	4,597,423	NextDecade Corporation(a)		35,767,951
	366,906	ONEOK, Inc.		36,404,413
	445,057	Pembina Pipeline Corporation		17,815,632
	885,873	Plains GP Holdings, L.P., Class A		18,922,247
	224,579	South Bow Corporation		5,731,256
	163,214	Targa Resources Corporation		32,719,511
	378,813	TC Energy Corporation		17,883,762
	1,386,900	Venture Global, Inc.(a)		14,285,070
	461,365	Western Midstream Partners, L.P.		18,897,510
	321,436	Williams Companies, Inc. (The)		19,209,015
				417,401,341
		TOTAL COMMON STOCKS (Cost $287,112,651)		417,401,341
		TOTAL INVESTMENTS - 100.0% (Cost $287,112,651)	$	417,401,341
		LIABILITIES IN EXCESS OF OTHER ASSETS - 0.0%		(170,051	)
		NET ASSETS - 100.0%	$	417,231,290

LP  - Limited Partnership

^(a) Non-income producing security.

CATALYST/WELTON ADVANTAGE MULTI-STRATEGY FUND

SCHEDULE OF INVESTMENTS (Unaudited)

March 31, 2025

Shares			Fair Value
		COMMON STOCKS — 67.0%
		AEROSPACE & DEFENSE - 1.6%
	527	General Dynamics Corporation	$	143,650
	527	Howmet Aerospace, Inc.		68,368
	527	L3Harris Technologies, Inc.		110,306
	527	Northrop Grumman Corporation		269,829
	1,580	RTX Corporation		209,287
				801,440
		APPAREL & TEXTILE PRODUCTS - 0.1%
	527	Deckers Outdoor Corporation(a)		58,924
		ASSET MANAGEMENT - 1.6%
	527	Apollo Global Management, Inc., Class A		72,167
	527	Ares Management Corporation, Class A		77,263
	527	Blackrock, Inc.		498,796
	527	Blackstone, Inc.		73,664
	1,580	Charles Schwab Corporation (The)		123,682
				845,572
		AUTOMOTIVE - 0.3%
	6,319	Ford Motor Company		63,380
	1,580	General Motors Company		74,307
				137,687
		BANKING - 2.4%
	10,005	Bank of America Corporation		417,509
	2,106	Citigroup, Inc.		149,505
	2,106	JPMorgan Chase & Company		516,601
	2,106	Wells Fargo & Company		151,190
				1,234,805
		BEVERAGES - 1.7%
	9,478	Coca-Cola Company (The)		678,814
	4,213	Keurig Dr Pepper, Inc.		144,169
				822,983
		CABLE & SATELLITE - 0.2%
	2,106	Comcast Corporation, Class A		77,711

CATALYST/WELTON ADVANTAGE MULTI-STRATEGY FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

March 31, 2025

Shares			Fair Value
		COMMON STOCKS — 67.0% (Continued)
		CHEMICALS - 1.0%
	527	Air Products and Chemicals, Inc.	$	155,423
	527	Ecolab, Inc.		133,605
	527	Sherwin-Williams Company (The)		184,023
				473,051
		COMMERCIAL SUPPORT SERVICES - 0.7%
	527	Cintas Corporation		108,314
	527	Republic Services, Inc.		127,618
	527	Waste Management, Inc.		122,006
				357,938
		DATA CENTER REIT - 0.1%
	527	Digital Realty Trust, Inc.		75,514
		DIVERSIFIED INDUSTRIALS - 1.5%
	527	3M Company		77,395
	527	Emerson Electric Company		57,780
	1,053	General Electric Company		210,759
	1,580	Honeywell International, Inc.		334,566
	527	Illinois Tool Works, Inc.		130,701
				811,201
		E-COMMERCE DISCRETIONARY - 0.1%
	1,053	eBay, Inc.		71,320
		ELECTRIC UTILITIES - 3.8%
	1,053	Alliant Energy Corporation		67,761
	527	Ameren Corporation		52,911
	1,053	American Electric Power Company, Inc.		115,061
	1,053	CenterPoint Energy, Inc.		38,150
	1,053	CMS Energy Corporation		79,091
	1,053	Consolidated Edison, Inc.		116,451
	1,580	Dominion Energy, Inc.		88,591
	527	DTE Energy Company		72,868
	1,580	Duke Energy Corporation		192,713
	527	Entergy Corporation		45,053
	2,106	Exelon Corporation		97,044

CATALYST/WELTON ADVANTAGE MULTI-STRATEGY FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

March 31, 2025

Shares			Fair Value
		COMMON STOCKS — 67.0% (Continued)
		ELECTRIC UTILITIES - 3.8% (Continued)
	2,106	FirstEnergy Corporation	$	85,125
	2,633	NextEra Energy, Inc.		186,653
	5,266	PG&E Corporation		90,470
	2,106	PPL Corporation		76,048
	1,053	Public Service Enterprise Group, Inc.		86,662
	1,053	Sempra		75,142
	2,106	Southern Company (The)		193,646
	527	WEC Energy Group, Inc.		57,432
	1,580	Xcel Energy, Inc.		111,848
				1,928,720
		ELECTRICAL EQUIPMENT - 0.7%
	1,580	Amphenol Corporation, Class A		103,632
	527	Keysight Technologies, Inc.(a)		78,929
	527	Trane Technologies PLC		177,557
				360,118
		ENGINEERING & CONSTRUCTION - 0.1%
	527	Jacobs Solutions, Inc.		63,709
		ENTERTAINMENT CONTENT - 0.1%
	527	Electronic Arts, Inc.		76,162
		FOOD - 0.3%
	1,053	McCormick & Company, Inc.		86,672
	1,053	Tyson Foods, Inc., Class A		67,192
				153,864
		GAMING REITS - 0.3%
	1,053	Gaming and Leisure Properties, Inc.		53,598
	2,633	VICI Properties, Inc.		85,888
				139,486
		GAS & WATER UTILITIES - 0.3%
	1,053	American Water Works Company, Inc.		155,339

CATALYST/WELTON ADVANTAGE MULTI-STRATEGY FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

March 31, 2025

Shares			Fair Value
		COMMON STOCKS — 67.0% (Continued)
		HEALTH CARE FACILITIES & SERVICES - 0.1%
	527	Cardinal Health, Inc.	$	72,605
		HEALTH CARE REIT - 0.3%
	1,053	Ventas, Inc.		72,404
	527	Welltower, Inc.		80,742
				153,146
		HOME CONSTRUCTION - 0.1%
	527	PulteGroup, Inc.		54,176
		HOUSEHOLD PRODUCTS - 0.4%
	1,580	Colgate-Palmolive Company		148,046
	527	Kimberly-Clark Corporation		74,950
				222,996
		INDUSTRIAL SUPPORT SERVICES - 0.2%
	1,053	Fastenal Company		81,660
		INFRASTRUCTURE REIT - 0.7%
	1,580	American Tower Corporation, Class A		343,807
		INSTITUTIONAL FINANCIAL SERVICES - 1.4%
	1,053	Bank of New York Mellon Corporation (The)		88,315
	527	CME Group, Inc.		139,808
	527	Goldman Sachs Group, Inc. (The)		287,894
	527	Intercontinental Exchange, Inc.		90,908
	1,053	Nasdaq, Inc.		79,881
	527	State Street Corporation		47,182
				733,988
		INSURANCE - 3.4%
	1,053	Aflac, Inc.		117,083
	527	Allstate Corporation (The)		109,126
	1,053	American International Group, Inc.		91,548
	527	Aon PLC, Class A		210,321
	527	Brown & Brown, Inc.		65,559
	527	Cincinnati Financial Corporation		77,848

CATALYST/WELTON ADVANTAGE MULTI-STRATEGY FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

March 31, 2025

Shares			Fair Value
		COMMON STOCKS — 67.0% (Continued)
		INSURANCE - 3.4% (Continued)
	1,053	Marsh & McLennan Companies, Inc.	$	256,965
	1,580	MetLife, Inc.		126,858
	1,053	Principal Financial Group, Inc.		88,842
	527	Progressive Corporation (The)		149,146
	1,053	Prudential Financial, Inc.		117,599
	527	Reinsurance Group of America, Inc.		103,766
	527	Travelers Companies, Inc. (The)		139,370
	527	W R Berkley Corporation		37,501
				1,691,532
		INTERNET MEDIA & SERVICES - 3.3%
	5,266	Alphabet, Inc., Class A		814,334
	1,580	Meta Platforms, Inc., Class A		910,649
				1,724,983
		LEISURE FACILITIES & SERVICES - 2.2%
	2,106	Carnival Corporation(a)		41,130
	1,580	Chipotle Mexican Grill, Inc.(a)		79,332
	527	Hilton Worldwide Holdings, Inc.		119,919
	527	Marriott International, Inc., Class A		125,531
	1,580	McDonald's Corporation		493,544
	527	Royal Caribbean Cruises Ltd.		108,267
	1,053	Starbucks Corporation		103,289
	527	Yum! Brands, Inc.		82,929
				1,153,941
		MACHINERY - 0.9%
	527	Caterpillar, Inc.		173,805
	527	Deere & Company		247,347
	527	Xylem, Inc.		62,955
				484,107
		MEDICAL EQUIPMENT & DEVICES - 1.2%
	1,580	Boston Scientific Corporation(a)		159,390
	527	Intuitive Surgical, Inc.(a)		261,007
	527	Stryker Corporation		196,176
				616,573

CATALYST/WELTON ADVANTAGE MULTI-STRATEGY FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

March 31, 2025

Shares			Fair Value
		COMMON STOCKS — 67.0% (Continued)
		METALS & MINING - 0.2%
	2,633	Newmont Corporation	$	127,121
		MULTI ASSET CLASS REIT - 0.2%
	1,580	WP Carey, Inc.		99,714
		OIL & GAS PRODUCERS - 2.9%
	2,106	Chevron Corporation		352,313
	1,580	Coterra Energy, Inc.		45,662
	1,053	EQT Corporation		56,262
	5,792	Exxon Mobil Corporation		688,843
	1,580	Kinder Morgan, Inc.		45,077
	527	Marathon Petroleum Corporation		76,779
	1,053	MPLX, L.P.		56,357
	527	ONEOK, Inc.		52,289
	527	Phillips 66		65,074
	1,053	Williams Companies, Inc. (The)		62,927
				1,501,583
		OIL & GAS SERVICES & EQUIPMENT - 0.1%
	1,053	Baker Hughes Company		46,279
		REAL ESTATE SERVICES - 0.1%
	527	CBRE Group, Inc., Class A(a)		68,921
		RESIDENTIAL REIT - 0.8%
	1,580	American Homes 4 Rent, Class A		59,740
	527	AvalonBay Communities, Inc.		113,105
	527	Camden Property Trust		64,452
	1,053	Equity Residential		75,374
	527	Mid-America Apartment Communities, Inc.		88,315
	1,053	UDR, Inc.		47,564
				448,550
		RETAIL - DISCRETIONARY - 1.6%
	1,053	Home Depot, Inc. (The)		385,914
	527	Lowe's Companies, Inc.		122,912

CATALYST/WELTON ADVANTAGE MULTI-STRATEGY FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

March 31, 2025

Shares			Fair Value
		COMMON STOCKS — 67.0% (Continued)
		RETAIL - DISCRETIONARY - 1.6% (Continued)
	2,106	TJX Companies, Inc. (The)	$	256,511
	1,053	Tractor Supply Company		58,020
				823,357
		RETAIL REIT - 0.3%
	527	Regency Centers Corporation		38,872
	527	Simon Property Group, Inc.		87,524
				126,396
		SELF-STORAGE REIT - 0.3%
	527	Public Storage		157,725
		SEMICONDUCTORS - 7.2%
	1,053	Analog Devices, Inc.		212,359
	1,053	Applied Materials, Inc.		152,811
	3,686	Broadcom, Inc.		617,147
	2,106	Lam Research Corporation		153,106
	1,053	Marvell Technology, Inc.		64,833
	1,580	Micron Technology, Inc.		137,286
	16,323	NVIDIA Corporation		1,769,087
	2,106	QUALCOMM, Inc.		323,503
	1,580	Texas Instruments, Inc.		283,926
				3,714,058
		SOFTWARE - 7.6%
	527	Autodesk, Inc.(a)		137,969
	527	Cadence Design Systems, Inc.(a)		134,032
	527	Fortinet, Inc.(a)		50,729
	1,580	Gen Digital, Inc.		41,933
	527	Intuit, Inc.		323,573
	4,739	Microsoft Corporation		1,778,972
	3,686	Oracle Corporation		515,340
	1,053	Palo Alto Networks, Inc.(a)		179,684
	1,053	Salesforce, Inc.		282,583
	527	ServiceNow, Inc.(a)		419,566
				3,864,381

CATALYST/WELTON ADVANTAGE MULTI-STRATEGY FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

March 31, 2025

Shares			Fair Value
		COMMON STOCKS — 67.0% (Continued)
		SPECIALTY FINANCE - 0.7%
	1,053	American Express Company	$	283,310
	527	Capital One Financial Corporation		94,491
				377,801
		SPECIALTY REITS - 0.1%
	527	Iron Mountain, Inc.		45,343
		TECHNOLOGY HARDWARE - 5.0%
	7,898	Apple, Inc.		1,754,383
	1,053	Arista Networks, Inc.(a)		81,586
	6,845	Cisco Systems, Inc.		422,405
	527	Dell Technologies, Inc., Class C		48,036
	527	Motorola Solutions, Inc.		230,726
	527	NetApp, Inc.		46,292
				2,583,428
		TECHNOLOGY SERVICES - 5.9%
	527	Automatic Data Processing, Inc.		161,014
	527	Broadridge Financial Solutions, Inc.		127,776
	1,053	Cognizant Technology Solutions Corporation, Class A		80,555
	1,580	Fidelity National Information Services, Inc.		117,994
	527	Fiserv, Inc.(a)		116,377
	1,053	International Business Machines Corporation		261,839
	1,580	Mastercard, Inc., Class A		866,029
	527	Moody's Corporation		245,419
	527	Paychex, Inc.		81,306
	527	S&P Global, Inc.		267,769
	527	Verisk Analytics, Inc.		156,846
	1,580	Visa, Inc., Class A		553,727
				3,036,651
		TELECOMMUNICATIONS - 1.6%
	3,686	AT&T, Inc.		104,240
	1,053	T-Mobile US, Inc.		280,846
	9,478	Verizon Communications, Inc.		429,922
				815,008

CATALYST/WELTON ADVANTAGE MULTI-STRATEGY FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

March 31, 2025

Shares			Fair Value
		COMMON STOCKS — 67.0% (Continued)
		TRANSPORTATION & LOGISTICS - 0.6%
	527	Expeditors International of Washington, Inc.	$	63,372
	1,053	Union Pacific Corporation		248,760
				312,132
		TRANSPORTATION EQUIPMENT - 0.4%
	1,053	PACCAR, Inc.		102,531
	527	Westinghouse Air Brake Technologies Corporation		95,571
				198,102
		WHOLESALE - CONSUMER STAPLES - 0.1%
	527	Sysco Corporation		39,547
	527	US Foods Holding Corporation(a)		34,497
				74,044
		WHOLESALE - DISCRETIONARY - 0.2%
	1,580	Copart, Inc.(a)		89,412
		TOTAL COMMON STOCKS (Cost $34,868,068)		34,489,064
		SHORT-TERM INVESTMENTS — 13.8%
		MONEY MARKET FUNDS - 13.8%
	7,073,353	First American Treasury Obligations Fund, Class X, 4.25%(b)		7,073,353
		TOTAL MONEY MARKET FUNDS (Cost $7,073,353)

Contracts(c)			Counterparty	Expiration Date	Exercise Price		Notional Value
		FUTURE OPTIONS PURCHASED - 0.4%
		CALL OPTIONS PURCHASED - 0.4%
	1,590	S&P500 EMINI OPTN Jun25C ESM5C 6450 Index	MS	06/20/2025	$	6,450	$	449,433,375	$	182,850
		TOTAL FUTURE OPTIONS PURCHASED (Cost - $362,415)

CATALYST/WELTON ADVANTAGE MULTI-STRATEGY FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

March 31, 2025

Contracts(c)
	TOTAL INVESTMENTS - 81.2% (Cost $42,303,836)	$	41,745,267
	OTHER ASSETS IN EXCESS OF LIABILITIES- 18.8%		9,673,894
	NET ASSETS - 100.0%	$	51,419,161

OPEN FUTURES CONTRACTS

Number of Contracts		Open Long Futures Contracts	Expiration	Notional Amount(d)		Value and Unrealized Appreciation (Depreciation)
	43	CBOE Volatility Index	04/17/2025	$	896,271	$	(1,969	)
	296	CBOT 2 Year US Treasury Note Future	07/01/2025		61,322,875		51,623
	105	CME British Pound Currency Future	06/17/2025		8,472,844		(23,544	)
	14	CME Euro FX/Japanese Yen Cross Rate Currency Future	06/17/2025		1,886,587		17,240
	10	COMEX Copper Future(e)	05/29/2025		1,258,500		40,300
	15	COMEX Gold 100 Troy Ounces Future(e)	06/27/2025		4,725,450		89,260
	55	Eurex EURO STOXX 50 Future	06/23/2025		3,087,688		(141,253	)
	7	HKG Hang Seng Index Future	04/30/2025		1,041,846		(20,081	)
	8	LME Copper Future(e)	06/17/2025		1,941,460		25,997
	39	LME Lead Future(e)	06/17/2025		1,959,682		(28,531	)
	21	LME Zinc Future(e)	06/17/2025		1,498,361		(36,418	)
	6	NYBOT CSC C Coffee Future(e)	05/20/2025		854,438		(31,162	)
	48	NYBOT CSC Number 11 World Sugar Future(e)	05/01/2025		1,013,913		(9,353	)
	18	NYMEX Henry Hub Natural Gas Future(e)	04/29/2025		741,420		(10,400	)
	31	NYMEX Light Sweet Crude Oil Future(e)	04/23/2025		2,215,880		55,970
	23	SGX Nikkei 225 Stock Index Future	06/13/2025		2,737,420		(159,426	)
	152	Three-Month SOFR Future	03/17/2027		36,694,700		10,012
		TOTAL LONG FUTURES CONTRACTS				$	(171,735	)

OPEN FUTURES CONTRACTS

Number of Contracts		Open Short Futures Contracts	Expiration	Notional Amount(d)		Value and Unrealized Appreciation (Depreciation)
	63	CBOT 10 Year US Treasury Note Future	06/19/2025	$	7,006,781	$	(15,328	)
	16	CBOT 5 Year US Treasury Note Future	07/01/2025		1,730,500		4,001
	53	CBOT Soybean Future(e)	05/15/2025		2,689,088		13,250
	33	CBOT US Treasury Bond Future	06/19/2025		3,870,281		6,595
	101	CME Australian Dollar Currency Future	06/17/2025		6,316,035		43,027
	199	CME Canadian Dollar Currency Future	06/18/2025		13,896,170		(2,709	)
	16	CME E-Mini NASDAQ 100 Index Future	06/23/2025		6,220,640		48,765
	48	CME E-Mini Standard & Poor's 500 Index Future	06/23/2025		13,567,801		11,447
	135	CME Euro Foreign Exchange Currency Future	06/17/2025		18,329,624		75,627
	207	CME Japanese Yen Currency Future	06/17/2025		17,385,413		246,882
	47	Eurex 10 Year Euro BUND Future	06/09/2025		6,550,914		(2,519	)
	57	Eurex 2 Year Euro SCHATZ Future	06/09/2025		6,595,732		(11,653	)

CATALYST/WELTON ADVANTAGE MULTI-STRATEGY FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

March 31, 2025

OPEN FUTURES CONTRACTS (Continued)

Number of Contracts		Open Short Futures Contracts	Expiration	Notional Amount(d)		Value and Unrealized Appreciation (Depreciation)
	86	Eurex 5 Year Euro BOBL Future	06/09/2025	$	10,959,580	$	(23,027	)
	41	LME Primary Aluminum Future(e)	06/17/2025		2,593,568		76,347
	36	Long Gilt Future	06/27/2025		4,264,266		21,862
	76	NYBOT CTN Number 2 Cotton Future(e)	05/08/2025		2,539,540		(23,805	)
	71	Three Month SONIA Index Future	03/17/2027		22,049,056		(15,532	)
	13	TSE Japanese 10 Year Bond Future	06/16/2025		11,998,186		(33,149	)
		TOTAL SHORT FUTURES CONTRACTS				$	420,081

(a)	Non-income producing security.
(b)	Rate disclosed is the seven day effective yield as of March 31, 2025.
(c)	Each contract is equivalent to one futures contract.
(d)	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.
(e)	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)

March 31, 2025

Shares			Fair Value
		COMMON STOCKS — 72.2%
		ADVERTISING & MARKETING - 0.1%
	354	Trade Desk, Inc. (The), Class A(a)	$	19,371
		AUTOMOTIVE - 2.0%
	1,165	Tesla, Inc.(a)		301,921
		BEVERAGES - 1.7%
	350	Coca-Cola Europacific Partners PLC		30,461
	1,038	Keurig Dr Pepper, Inc.		35,520
	750	Monster Beverage Corporation(a)		43,890
	1,061	PepsiCo, Inc.		159,086
				268,957
		BIOTECH & PHARMA - 2.8%
	417	Amgen, Inc.		129,916
	449	AstraZeneca PLC - ADR		33,002
	114	Biogen, Inc.(a)		15,600
	960	Gilead Sciences, Inc.		107,568
	85	Regeneron Pharmaceuticals, Inc.		53,910
	202	Vertex Pharmaceuticals, Inc.(a)		97,934
				437,930
		CABLE & SATELLITE - 1.0%
	110	Charter Communications, Inc., Class A(a),(b)		40,538
	2,902	Comcast Corporation, Class A		107,084
				147,622
		CHEMICALS - 1.1%
	366	Linde PLC		170,424
		COMMERCIAL SUPPORT SERVICES - 0.4%
	310	Cintas Corporation		63,714
		DIVERSIFIED INDUSTRIALS - 0.7%
	500	Honeywell International, Inc.		105,876
		E-COMMERCE DISCRETIONARY – 5.0%
	3,304	Amazon.com, Inc.(a)		628,619

CATALYST NASDAQ-100 HEDGED EQUITY FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

March 31, 2025

Shares			Fair Value
		COMMON STOCKS — 72.2% (Continued)
		E-COMMERCE DISCRETIONARY – 5.0% (Continued)
	39	MercadoLibre, Inc.(a)	$	76,084
	508	PDD Holdings, Inc. - ADR(a)		60,121
				764,824
		ELECTRIC UTILITIES - 1.0%
	410	American Electric Power Company, Inc.		44,801
	243	Constellation Energy Corporation		48,995
	774	Exelon Corporation		35,666
	444	Xcel Energy, Inc.		31,431
				160,893
		ENTERTAINMENT CONTENT - 0.9%
	236	AppLovin Corporation, Class A(a)		62,533
	200	Electronic Arts, Inc.		28,904
	137	Take-Two Interactive Software, Inc.(a)		28,393
	1,909	Warner Bros Discovery, Inc.(a)		20,484
				140,314
		FOOD - 0.6%
	928	Kraft Heinz Company (The)		28,239
	1,021	Mondelez International, Inc., Class A		69,275
				97,514
		INDUSTRIAL SUPPORT SERVICES - 0.2%
	436	Fastenal Company		33,812
		INTERNET MEDIA & SERVICES - 9.6%
	334	Airbnb, Inc., Class A(a)		39,900
	1,831	Alphabet, Inc., Class A		283,146
	1,733	Alphabet, Inc., Class C		270,747
	26	Booking Holdings, Inc.		119,780
	299	DoorDash, Inc., Class A(a)		54,648
	681	Meta Platforms, Inc., Class A		392,500
	334	Netflix, Inc.(a)		311,465
				1,472,186
		LEISURE FACILITIES & SERVICES - 0.9%
	224	Marriott International, Inc., Class A		53,357

CATALYST NASDAQ-100 HEDGED EQUITY FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

March 31, 2025

Shares			Fair Value
		COMMON STOCKS — 72.2% (Continued)
		LEISURE FACILITIES & SERVICES - 0.9% (Continued)
	870	Starbucks Corporation	$	85,338
				138,695
		LEISURE PRODUCTS - 0.2%
	60	Axon Enterprise, Inc.(a)		31,557
		MEDICAL EQUIPMENT & DEVICES - 1.4%
	304	DexCom, Inc.(a)		20,760
	352	GE HealthCare Technologies, Inc.		28,410
	64	IDEXX Laboratories, Inc.(a)		26,877
	276	Intuitive Surgical, Inc.(a)		136,694
				212,741
		OIL & GAS PRODUCERS - 0.2%
	222	Diamondback Energy, Inc.		35,493
		OIL & GAS SERVICES & EQUIPMENT - 0.2%
	762	Baker Hughes Company		33,490
		RETAIL - CONSUMER STAPLES - 2.1%
	340	Costco Wholesale Corporation		321,565
		RETAIL - DISCRETIONARY - 0.8%
	91	Lululemon Athletica, Inc.(a)		25,758
	44	O'Reilly Automotive, Inc.(a)		63,034
	258	Ross Stores, Inc.		32,970
				121,762
		SEMICONDUCTORS - 14.7%
	1,234	Advanced Micro Devices, Inc.(a)		126,781
	381	Analog Devices, Inc.		76,836
	638	Applied Materials, Inc.		92,587
	98	ARM Holdings PLC - ADR(a),(b)		10,465
	69	ASML Holding N.V.		45,722
	2,438	Broadcom, Inc.		408,194
	412	GLOBALFOUNDRIES, Inc.(a),(b)		15,207
	3,106	Intel Corporation		70,537

CATALYST NASDAQ-100 HEDGED EQUITY FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

March 31, 2025

Shares			Fair Value
		COMMON STOCKS — 72.2% (Continued)
		SEMICONDUCTORS - 14.7% (Continued)
	103	KLA Corporation	$	70,019
	988	Lam Research Corporation		71,828
	671	Marvell Technology, Inc.		41,313
	408	Microchip Technology, Inc.		19,751
	865	Micron Technology, Inc.		75,160
	7,636	NVIDIA Corporation		827,591
	194	NXP Semiconductors N.V.		36,872
	320	ON Semiconductor Corporation(a)		13,021
	852	QUALCOMM, Inc.		130,876
	701	Texas Instruments, Inc.		125,970
				2,258,730
		SOFTWARE - 12.2%
	333	Adobe, Inc.(a)		127,715
	68	ANSYS, Inc.(a)		21,526
	126	Atlassian Corporation, Class A(a)		26,738
	167	Autodesk, Inc.(a)		43,721
	214	Cadence Design Systems, Inc.(a)		54,427
	180	Crowdstrike Holdings, Inc., Class A(a)		63,464
	241	Datadog, Inc., Class A(a)		23,910
	593	Fortinet, Inc.(a)		57,082
	216	Intuit, Inc.		132,622
	2,326	Microsoft Corporation		873,156
	174	MicroStrategy, Inc., Class A(a)		50,159
	56	MongoDB, Inc.(a)		9,822
	1,694	Palantir Technologies, Inc., Class A(a)		142,974
	504	Palo Alto Networks, Inc.(a)		86,003
	82	Roper Technologies, Inc.		48,346
	119	Synopsys, Inc.(a),(b)		51,033
	167	Workday, Inc., Class A(a)		39,000
	119	Zscaler, Inc.(a)		23,612
				1,875,310
		TECHNOLOGY HARDWARE - 7.9%
	4,589	Apple, Inc.		1,019,354

CATALYST NASDAQ-100 HEDGED EQUITY FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

March 31, 2025

Shares			Fair Value
		COMMON STOCKS — 72.2% (Continued)
		TECHNOLOGY HARDWARE - 7.9% (Continued)
	3,073	Cisco Systems, Inc.	$	189,635
				1,208,989
		TECHNOLOGY SERVICES - 1.9%
	315	Automatic Data Processing, Inc.		96,242
	103	CDW Corporation		16,507
	379	Cognizant Technology Solutions Corporation, Class A		28,994
	318	CoStar Group, Inc.(a)		25,195
	279	Paychex, Inc.		43,044
	785	PayPal Holdings, Inc.(a)		51,221
	108	Verisk Analytics, Inc.		32,143
				293,346
		TELECOMMUNICATIONS - 1.5%
	893	T-Mobile US, Inc.		238,172
		TRANSPORTATION & LOGISTICS - 0.5%
	1,481	CSX Corporation		43,586
	163	Old Dominion Freight Line, Inc.		26,968
				70,554
		TRANSPORTATION EQUIPMENT - 0.3%
	404	PACCAR, Inc.(b)		39,337
		WHOLESALE - DISCRETIONARY - 0.3%
	739	Copart, Inc.(a)		41,820
		TOTAL COMMON STOCKS (Cost $8,845,720)		11,106,919
		EXCHANGE-TRADED FUNDS — 20.4%
		EQUITY - 20.4%
	6,683	Invesco QQQ Trust Series 1		3,133,792
		TOTAL EXCHANGE-TRADED FUNDS (Cost $2,939,979)

CATALYST NASDAQ-100 HEDGED EQUITY FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

March 31, 2025

Shares			Fair Value
		SHORT-TERM INVESTMENTS — 2.0%
		COLLATERAL FOR SECURITIES LOANED - 1.0%
	158,467	Mount Vernon Liquid Assets Portfolio, 4.42% (Cost $158,467)(c),(d)	$	158,467
		MONEY MARKET FUNDS - 1.0%
	147,846	First American Treasury Obligations Fund, Class X, 4.25% (Cost $147,846)(d)		147,846
		TOTAL SHORT-TERM INVESTMENTS (Cost $306,313)		306,313

Contracts(e)			Counterparty	Expiration Date	Exercise Price		Notional Value
		FUTURE OPTIONS PURCHASED - 0.5%
		CALL OPTIONS PURCHASED - 0.5%
	71	S&P Emini 2nd Week Future	WED	04/11/2025	$	5,800	$	20,069,038	$	81,651
		TOTAL FUTURE OPTIONS PURCHASED (Cost - $233,413)
		TOTAL INVESTMENTS - 95.1% (Cost $12,325,425)							$	14,628,675
		CALL OPTIONS WRITTEN – (0.0)%(f) (Premiums received - $50,588)								(533	)
		OTHER ASSETS IN EXCESS OF LIABILITIES - 4.9%								749,225
		NET ASSETS - 100.0%							$	15,377,367
	Contracts(e)		Counterparty	Expiration Date	Exercise Price		Notional Value		Fair Value
		WRITTEN FUTURE OPTIONS – (0.0)%(f)
		CALL OPTIONS WRITTEN – (0.0)%(f)
	71	S&P Emini 2nd Week Future	WED	04/11/2025	$	6,200	$	20,069,038	$	533
		TOTAL FUTURE OPTIONS WRITTEN (Premiums received - $50,588)

CATALYST NASDAQ-100 HEDGED EQUITY FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

March 31, 2025

OPEN FUTURES CONTRACTS

Number of Contracts		Open Short Futures Contracts	Expiration	Notional Amount(g)		Value and Unrealized Appreciation
	24	CME E-Mini Standard & Poor's 500 Index Future	06/23/2025	$	6,783,900	$	76,800
		TOTAL FUTURES CONTRACTS

ADR	- American Depositary Receipt
ETF	- Exchange-Traded Fund
N.V.	- Naamioze Vennootschap
PLC	- Public Limited Company
WED	- Wedbush Securities

(a)	Non-income producing security.
(b)	All or a portion of the security is on loan. The total fair value of the securities on loan as of March 31, 2025 was $154,208
(c)	Security was purchased with cash received as collateral for securities on loan at March 31, 2025. Total collateral had a value of $158,467 at March 31, 2025.
(d)	Rate disclosed is the seven-day effective yield as of March 31, 2025.
(e)	Each contract is equivalent to one futures contract.
(f)	Percentage rounds to greater than (0.1%).
(g)	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 flow of the Fund's futures contracts. Further, the underlying price changes in relation to the variables specified by the notional values affect 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.

CATALYST/MAP GLOBAL EQUITY FUND

SCHEDULE OF INVESTMENTS (Unaudited)

March 31, 2025

Shares			Fair Value
		COMMON STOCKS — 93.0%
		AEROSPACE & DEFENSE - 1.2%
	30,000	Kratos Defense & Security Solutions, Inc.(a)	$	890,700
		BEVERAGES - 4.4%
	80,000	Arca Continental COM NPV		836,417
	5,739	Diageo plc - ADR		601,390
	4,950,000	Thai Beverage PCL		1,879,047
				3,316,854
		BIOTECH & PHARMA - 13.4%
	11,900	Johnson & Johnson		1,973,496
	22,002	Novartis A.G. - ADR		2,452,783
	59,750	Sanofi - ADR		3,313,735
	158,000	Takeda Pharmaceutical Company Ltd. - ADR		2,349,460
				10,089,474
		CHEMICALS - 2.0%
	55,000	Mosaic Company (The)		1,485,550
		CONSTRUCTION MATERIALS - 5.4%
	25,180	Holcim A.G.(b)		2,690,201
	82,010	MDU Resources Group, Inc.		1,386,789
				4,076,990
		DIVERSIFIED INDUSTRIALS - 1.8%
	6,400	Honeywell International, Inc.		1,355,200
		ELECTRICAL EQUIPMENT - 0.7%
	4,856	Daikin Industries Ltd.(b)		522,659
		ENGINEERING & CONSTRUCTION - 3.6%
	20,502	Everus Construction Group, Inc.(a)		760,419
	67,675	Tetra Tech, Inc.		1,979,494
				2,739,913
		ENTERTAINMENT CONTENT - 4.3%
	4,671	Electronic Arts, Inc.		675,053
	456,280	Vivendi S.A.		1,360,991
	25,500	Vivendi S.A. - ADR		74,511

CATALYST/MAP GLOBAL EQUITY FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

March 31, 2025

Shares			Fair Value
		COMMON STOCKS — 93.0% (Continued)
		ENTERTAINMENT CONTENT - 4.3% (Continued)
	11,567	Walt Disney Company (The)	$	1,141,663
				3,252,218
		FOOD - 5.3%
	284,700	GrainCorp Ltd.		1,211,603
	28,000	Nestle S.A. - ADR		2,832,760
				4,044,363
		GAS & WATER UTILITIES - 3.0%
	28,270	National Fuel Gas Company		2,238,701
		HOME CONSTRUCTION - 0.6%
	8,000	Fortune Brands Innovations, Inc.		487,040
		HOUSEHOLD PRODUCTS - 2.1%
	26,000	Unilever plc - ADR		1,548,300
		INSTITUTIONAL FINANCIAL SERVICES - 1.0%
	2,775	CME Group, Inc.		736,180
		INSURANCE - 0.5%
	1,000	Aon PLC, Class A		399,090
		INTERNET MEDIA & SERVICES - 5.9%
	8,124	Alphabet, Inc., Class C		1,269,213
	5,428	Meta Platforms, Inc., Class A		3,128,481
				4,397,694
		LEISURE FACILITIES & SERVICES - 1.7%
	148,640	Arcos Dorados Holdings, Inc., Class A		1,198,038
		MEDICAL EQUIPMENT & DEVICES - 3.2%
	26,425	Medtronic PLC		2,374,551
		METALS & MINING - 2.6%
	27,000	Freeport-McMoRan, Inc.		1,022,220

CATALYST/MAP GLOBAL EQUITY FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

March 31, 2025

Shares			Fair Value
		COMMON STOCKS — 93.0% (Continued)
		METALS & MINING - 2.6% (Continued)
	188,340	Grupo Mexico S.A.B. de C.V. - Series B	$	940,812
				1,963,032
		OIL & GAS PRODUCERS - 3.2%
	12,827	Chevron Corporation		2,145,829
	2,500	ConocoPhillips		262,550
				2,408,379
		PUBLISHING & BROADCASTING - 0.5%
	256,280	Louis Hachette Group(a),(b)		383,048
		RETAIL - CONSUMER STAPLES - 3.8%
	9,000	PriceSmart, Inc.		790,650
	23,000	Walmart, Inc.		2,019,171
				2,809,821
		RETAIL - DISCRETIONARY - 1.0%
	2,104	Home Depot, Inc. (The)		771,095
		SEMICONDUCTORS - 2.5%
	6,354	Applied Materials, Inc.		922,093
	9,098	Micron Technology, Inc.		790,525
	1,500	Tokyo Electron Ltd.(b)		201,159
				1,913,777
		SOFTWARE - 3.6%
	7,110	Microsoft Corporation		2,669,023
		TECHNOLOGY HARDWARE - 5.8%
	7,272	Apple, Inc.		1,615,329
	44,810	Cisco Systems, Inc.		2,765,224
				4,380,553
		TECHNOLOGY SERVICES - 1.6%
	8,688	Fidelity National Information Services, Inc.		648,820
	500	Mastercard, Inc., Class A		274,060
	700	Visa, Inc., Class A		245,322
				1,168,202

CATALYST/MAP GLOBAL EQUITY FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

March 31, 2025

Shares					Fair Value
		COMMON STOCKS — 93.0% (Continued)
		TELECOMMUNICATIONS - 4.7%
	56,000	AT&T, Inc.			$	1,583,680
	152,000	Orange S.A. - ADR				1,965,360
						3,549,040
		TOBACCO & CANNABIS - 1.6%
	32,463	Imperial Brands plc - ADR				1,204,702
		WHOLESALE - CONSUMER STAPLES - 2.0%
	20,003	Bunge Global S.A.				1,528,629
		TOTAL COMMON STOCKS (Cost $55,002,582)				69,902,816
		EXCHANGE-TRADED FUNDS — 5.5%
		COMMODITY - 4.9%
	60,000	SPDR Gold MiniShares Trust(a)				3,713,400
		FIXED INCOME - 0.6%
	5,000	SPDR Bloomberg 1-3 Month T-Bill ETF				458,650
		TOTAL EXCHANGE-TRADED FUNDS (Cost $2,751,302)				4,172,050
			Coupon Rate (%)	Maturity
		PREFERRED STOCKS — 0.5%
		HOUSEHOLD PRODUCTS — 0.5%
	5,100	Henkel A.G. & Company KGaA(b)	3.06%			405,440
		TOTAL PREFERRED STOCKS (Cost $457,117)				405,440

CATALYST/MAP GLOBAL EQUITY FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

March 31, 2025

Shares			Fair Value
		SHORT-TERM INVESTMENT — 0.6%
		MONEY MARKET FUND - 0.6%
	428,047	First American Treasury Obligations Fund, Class X, 4.25% (Cost $428,047)(c)	$	428,047
		TOTAL INVESTMENTS - 99.6% (Cost $58,639,048)	$	74,908,353
		OTHER ASSETS IN EXCESS OF LIABILITIES- 0.4%		274,114
		NET ASSETS - 100.0%	$	75,182,467

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 March 31, 2025.

CATALYST/LYONS TACTICAL ALLOCATION FUND

SCHEDULE OF INVESTMENTS (Unaudited)

March 31, 2025

Shares			Fair Value
		COMMON STOCKS — 98.5%
		APPAREL & TEXTILE PRODUCTS - 3.4%
	6,943	Crocs, Inc.(a)	$	737,347
		COMMERCIAL SUPPORT SERVICES - 4.8%
	4,425	Waste Management, Inc.		1,024,432
		E-COMMERCE DISCRETIONARY - 2.0%
	2,271	Amazon.com, Inc.(a)		432,080
		ELECTRICAL EQUIPMENT - 8.1%
	1,808	Lennox International, Inc.		1,013,981
	9,850	Veritiv Holdings Company		711,170
				1,725,151
		HEALTH CARE FACILITIES & SERVICES - 10.1%
	3,166	HCA Healthcare, Inc.		1,094,011
	2,026	UnitedHealth Group, Inc.		1,061,118
				2,155,129
		INDUSTRIAL INTERMEDIATE PROD - 6.4%
	17,992	Mueller Industries, Inc.		1,369,911
		INDUSTRIAL SUPPORT SERVICES - 5.0%
	1,092	WW Grainger, Inc.		1,078,710
		INTERNET MEDIA & SERVICES - 6.8%
	2,811	Alphabet, Inc., Class A		434,693
	1,769	Meta Platforms, Inc., Class A		1,019,581
				1,454,274
		LEISURE FACILITIES & SERVICES - 8.7%
	4,533	Darden Restaurants, Inc.		941,776
	3,911	Marriott International, Inc., Class A		931,600
				1,873,376
		MACHINERY - 1.3%
	466	Parker-Hannifin Corporation		283,258

CATALYST/LYONS TACTICAL ALLOCATION FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

March 31, 2025

Shares			Fair Value
		COMMON STOCKS — 98.5% (Continued)
		RETAIL - CONSUMER STAPLES - 4.7%
	1,063	Costco Wholesale Corporation	$	1,005,364
		RETAIL - DISCRETIONARY - 10.8%
	345	AutoZone, Inc.(a)		1,315,410
	6,739	Penske Automotive Group, Inc.		970,281
				2,285,691
		SEMICONDUCTORS - 5.1%
	984	KLA Corporation		668,924
	4,001	NVIDIA Corporation		433,628
				1,102,552
		SOFTWARE - 6.5%
	2,687	Cadence Design Systems, Inc.(a)		683,385
	1,910	Microsoft Corporation		716,994
				1,400,379
		TECHNOLOGY HARDWARE - 6.0%
	4,000	Apple, Inc.		888,520
	5,187	Arista Networks, Inc.(a)		401,889
				1,290,409
		TECHNOLOGY SERVICES - 8.8%
	4,825	Broadridge Financial Solutions, Inc.		1,169,869
	4,786	Insight Enterprises, Inc.(a)		717,852
				1,887,721
		TOTAL COMMON STOCKS (Cost $18,510,431)		21,105,784
		SHORT-TERM INVESTMENT — 1.5%
		MONEY MARKET FUND - 1.5%
	325,589	First American Treasury Obligations Fund, Class X, 4.25% (Cost $325,589)(b)		325,589
		TOTAL INVESTMENTS - 100.0% (Cost $18,836,020)	$	21,431,373
		LIABILITIES IN EXCESS OF OTHER ASSETS - 0.0%		(4,056	)
		NET ASSETS - 100.0%	$	21,427,317

(a)	Non-income producing security.
(b)	Rate disclosed is the seven day effective yield as of March 31, 2025.

CATALYST/MAP GLOBAL BALANCED FUND

SCHEDULE OF INVESTMENTS (Unaudited)

March 31, 2025

Shares			Fair Value
		COMMON STOCKS — 54.5%
		AEROSPACE & DEFENSE - 0.6%
	3,000	Kratos Defense & Security Solutions, Inc.(a)	$	89,070
		BEVERAGES - 2.3%
	7,800	Arca Continental S.A.B. de C.V.		81,551
	600,000	Thai Beverage PCL		227,764
				309,315
		BIOTECH & PHARMA - 9.2%
	1,960	Johnson & Johnson		325,046
	1,740	Novartis A.G. - ADR		193,975
	7,528	Sanofi S.A. - ADR		417,503
	23,000	Takeda Pharmaceutical Company Ltd. - ADR		342,010
				1,278,534
		CHEMICALS - 0.8%
	4,190	Mosaic Company		113,172
		CONSTRUCTION MATERIALS - 3.9%
	3,930	Holcim A.G.		419,877
	7,000	MDU Resources Group, Inc.		118,370
				538,247
		DIVERSIFIED INDUSTRIALS - 0.4%
	250	Honeywell International, Inc.		52,938
		ENGINEERING & CONSTRUCTION - 1.7%
	2,190	Everus Construction Group, Inc.(a)		81,227
	5,285	Tetra Tech, Inc.		154,586
				235,813
		ENTERTAINMENT CONTENT - 2.3%
	77,700	Vivendi S.E.		231,764
	30,000	Vivendi S.E. - ADR		87,660
				319,424
		FOOD - 3.3%
	24,000	GrainCorp Ltd.		102,137
	3,533	Nestle S.A. - ADR		357,434
				459,571

CATALYST/MAP GLOBAL BALANCED FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

March 31, 2025

Shares			Fair Value
		COMMON STOCKS — 54.5% (Continued)
		GAS & WATER UTILITIES - 2.2%
	3,775	National Fuel Gas Company	$	298,942
		HOME CONSTRUCTION - 0.2%
	500	Fortune Brands Innovations, Inc.		30,440
		HOUSEHOLD PRODUCTS - 1.2%
	2,900	Unilever PLC - ADR		172,695
		INSTITUTIONAL FINANCIAL SERVICES - 0.7%
	360	CME Group, Inc.		95,504
		INSURANCE - 1.1%
	380	Aon PLC, Class A		151,655
		INTERNET MEDIA & SERVICES - 1.3%
	600	Alphabet, Inc., Class C		93,738
	153	Meta Platforms, Inc., Class A		88,183
				181,921
		LEISURE FACILITIES & SERVICES - 0.7%
	11,200	Arcos Dorados Holdings, Inc., Class A		90,272
		MEDICAL EQUIPMENT & DEVICES - 1.9%
	2,900	Medtronic PLC		260,594
		METALS & MINING - 0.7%
	1,000	Freeport-McMoRan, Inc.		37,860
	12,000	Grupo Mexico S.A.B. de C.V. - Series B		59,943
				97,803
		OIL & GAS PRODUCERS - 1.6%
	1,000	Chevron Corporation		167,290
	555	ConocoPhillips		58,286
				225,576

CATALYST/MAP GLOBAL BALANCED FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

March 31, 2025

Shares			Fair Value
		COMMON STOCKS — 54.5% (Continued)
		PUBLISHING & BROADCASTING - 0.4%
	37,700	Louis Hachette Group(a)	$	56,348
		RETAIL - CONSUMER STAPLES - 1.3%
	1,064	PriceSmart, Inc.		93,472
	1,000	Walmart, Inc.		87,790
				181,262
		RETAIL - DISCRETIONARY - 0.8%
	323	Home Depot, Inc.		118,376
		SEMICONDUCTORS - 1.9%
	600	Applied Materials, Inc.		87,072
	1,630	Micron Technology, Inc.		141,631
	300	Tokyo Electron Ltd.		40,232
				268,935
		SOFTWARE - 3.3%
	1,190	Microsoft Corporation		446,714
		TECHNOLOGY HARDWARE - 3.5%
	650	Apple, Inc.		144,384
	5,325	Cisco Systems, Inc.		328,605
				472,989
		TECHNOLOGY SERVICES - 1.0%
	1,000	Fidelity National Information Services, Inc.		74,680
	200	Visa, Inc., Class A		70,092
				144,772
		TELECOMMUNICATIONS - 3.5%
	5,000	AT&T, Inc.		141,400
	26,340	Orange S.A. - ADR		340,576
				481,976
		TOBACCO & CANNABIS - 0.9%
	3,340	Imperial Brands PLC - ADR		123,947

CATALYST/MAP GLOBAL BALANCED FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

March 31, 2025

Shares					Fair Value
		COMMON STOCKS — 54.5% (Continued)
		WHOLESALE - CONSUMER STAPLES - 1.8%
	3,217	Bunge Global S.A.			$	245,843
		TOTAL COMMON STOCKS (Cost $5,994,908)				7,542,648
		EXCHANGE-TRADED FUNDS — 3.8%
		COMMODITY - 3.8%
	8,500	SPDR Gold MiniShares Trust(a)				526,065
		TOTAL EXCHANGE-TRADED FUNDS (Cost $314,458)
		PREFERRED STOCKS — 2.0%
		HOUSEHOLD PRODUCTS — 2.0%
	3,500	Henkel A.G. & Company KGaA				278,243
		TOTAL PREFERRED STOCKS (Cost $323,349)
Principal Amount ($)			Coupon Rate (%)	Maturity
		CORPORATE BONDS — 38.2%
		AUTOMOTIVE — 3.2%
	250,000	Ford Motor Credit Company, LLC	4.1340	08/04/25		248,578
	200,000	Honda Motor Company Ltd.	2.5340	03/10/27		192,934
						441,512
		BANKING — 1.4%
	200,000	Sumitomo Mitsui Financial Group, Inc.	1.4740	07/08/25		198,419
		CABLE & SATELLITE — 1.8%
	250,000	Grupo Televisa S.A.B	4.6250	01/30/26		247,128

CATALYST/MAP GLOBAL BALANCED FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

March 31, 2025

Principal Amount ($)			Coupon Rate (%)	Maturity	Fair Value
		CORPORATE BONDS — 38.2% (Continued)
		CHEMICALS — 1.1%
	150,000	Nutrien Ltd.	3.0000	04/01/25	$	150,000
		CONTAINERS & PACKAGING — 1.3%
	175,000	Ball Corporation	5.2500	07/01/25		174,756
		ELECTRIC UTILITIES — 0.7%
	100,000	DTE Energy Company	1.0500	06/01/25		99,337
		INSTITUTIONAL FINANCIAL SERVICES — 3.1%
	250,000	Nomura Holdings, Inc.	1.6530	07/14/26		240,611
	200,000	Nomura Holdings, Inc.	2.3290	01/22/27		191,959
						432,570
		LEISURE FACILITIES & SERVICES — 2.0%
	275,000	Las Vegas Sands Corporation	2.9000	06/25/25		273,559
		OIL & GAS PRODUCERS — 4.0%
	275,000	Canadian Natural Resources Ltd.	2.0500	07/15/25		272,918
	275,000	Range Resources Corporation	4.8750	05/15/25		274,864
						547,782
		RETAIL - DISCRETIONARY — 1.4%
	200,000	Kohl’s Corporation	4.2500	07/17/25		198,423
		SEMICONDUCTORS — 0.9%
	125,000	NXP BV / NXP Funding, LLC / NXP USA, Inc.	2.7000	05/01/25		124,781
		SPECIALTY FINANCE — 9.2%
	200,000	AerCap Ireland Capital DAC / AerCap Global Aviation Trust	2.4500	10/29/26		193,263
	625,000	Aircastle Ltd.	4.2500	06/15/26		619,899
	250,000	Ally Financial, Inc.	5.7500	11/20/25		250,747
	200,000	Synchrony Financial	4.5000	07/23/25		199,793
						1,263,702
		STEEL — 2.1%
	300,000	ArcelorMittal S.A.	6.1250	06/01/25		300,759

CATALYST/MAP GLOBAL BALANCED FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

March 31, 2025

Principal Amount ($)			Coupon Rate (%)	Maturity	Fair Value
		CORPORATE BONDS — 38.2% (Continued)
		TECHNOLOGY HARDWARE — 1.6%
	225,000	NetApp, Inc.	1.8750	06/22/25	$	223,541
		TOBACCO & CANNABIS — 3.0%
	250,000	BAT International Finance PLC	1.6680	03/25/26		242,850
	175,000	Reynolds American, Inc.	4.4500	06/12/25		174,781
						417,631
		TRANSPORTATION & LOGISTICS — 1.4%
	200,000	Ryder System, Inc. Series MTN	4.6250	06/01/25		199,882
		TOTAL CORPORATE BONDS (Cost $5,286,961)				5,293,782
Shares
		SHORT-TERM INVESTMENTS — 2.4%
		MONEY MARKET FUNDS - 2.4%
	332,469	First American Treasury Obligations Fund, Class X, 4.25% (Cost $332,469)(b)				332,469
		TOTAL INVESTMENTS - 100.9% (Cost $12,252,145)			$	13,973,207
		LIABILITIES IN EXCESS OF OTHER ASSETS - (0.9)%				(127,865	)
		NET ASSETS - 100.0%			$	13,845,342

ADR	- American Depositary Receipt
LLC	- Limited Liability Company
Ltd.	- Limited Company
PLC	- Public Limited Company
S.A.	- Société Anonyme
SPDR	- Standard & Poor’s Depositary Receipt

(a)	Non-income producing security.
(b)	Rate disclosed is the seven-day effective yield as of March 31, 2025.

CATALYST/MILLBURN HEDGE STRATEGY FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)

March 31, 2025

Shares			Fair Value
		EXCHANGE-TRADED FUNDS — 49.8%
		EQUITY - 49.8%
	1,964,116	Dimensional Emerging Core Equity Market ETF	$	50,850,963
	1,741,130	Dimensional International Core Equity 2 ETF		48,351,180
	3,322,214	Dimensional US Core Equity 2 ETF		109,599,840
	1,132,910	Dimensional US High Profitability ETF		37,544,637
	8,932,011	iShares Core S&P Mid-Cap ETF		521,182,843
	2,519,585	iShares Core S&P Small-Cap ETF		263,473,003
	837,154	iShares MSCI Australia ETF		19,622,890
	832,621	iShares MSCI Brazil ETF		21,523,253
	503,030	iShares MSCI Canada ETF		20,498,473
	247,269	iShares MSCI France ETF		9,841,306
	735,500	iShares MSCI Hong Kong ETF		12,878,605
	2,484,481	iShares MSCI India ETF		127,901,082
	1,634,145	iShares MSCI Intl Quality Factor ETF		64,859,215
	865,772	iShares MSCI Japan ETF		59,357,328
	240,192	iShares MSCI Malaysia ETF		5,543,631
	412,324	iShares MSCI Mexico ETF		21,012,031
	546,384	iShares MSCI Singapore ETF		12,982,084
	145,275	iShares MSCI South Africa ETF		6,992,086
	268,700	iShares MSCI Spain ETF		10,226,722
	446,817	iShares MSCI Switzerland ETF		23,140,652
	1,216,247	iShares MSCI Taiwan ETF		57,747,408
	68,899	iShares MSCI Thailand ETF		3,579,992
	109,247	iShares MSCI Turkey ETF		3,585,487
	1,763,090	iShares MSCI United Kingdom ETF		66,062,982
	3,755,502	iShares MSCI USA Min Vol Factor ETF		351,740,318
	243,808	iShares MSCI USA Quality Factor ETF		41,664,349
	1,693,608	iShares Russell 1000 ETF		519,497,319
	1,751,639	iShares Russell 2000 ETF		349,434,464
	774,720	iShares Russell Mid-Cap ETF		65,905,430
	532,813	SPDR S&P 500 ETF Trust		298,050,264
	7,609,189	Vanguard FTSE Emerging Markets ETF		344,391,894
	108,039	Vanguard FTSE Europe ETF		7,585,418
	455,103	Vanguard Large-Cap ETF		116,975,124
	404,194	Vanguard Mid-Cap ETF		104,532,652

CATALYST/MILLBURN HEDGE STRATEGY FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

March 31, 2025

Shares						Fair Value
		EXCHANGE-TRADED FUNDS — 49.8% (Continued)
		EQUITY - 49.8% (Continued)
	1,201,208	Vanguard Real Estate ETF				$	108,757,372
	263,721	Vanguard S&P 500 ETF					135,528,859
	365,075	Vanguard Small-Cap ETF					80,955,381
	489,104	WisdomTree India Earnings Fund					21,378,736
		TOTAL EXCHANGE-TRADED FUNDS (Cost $3,232,496,790)					4,124,755,273
Principal Amount ($)			Coupon Rate (%)	Maturity
		U.S. GOVERNMENT & AGENCIES — 43.7%
		U.S. TREASURY NOTES — 43.7%
	1,340,345,000	United States Treasury Note(c),(d)	2.1250	05/15/25			1,336,733,816
	1,389,537,000	United States Treasury Note(c),(d)	2.0000	08/15/25			1,377,831,901
	919,089,000	United States Treasury Note(c),(d)	2.2500	11/15/25			908,625,043
		TOTAL U.S. GOVERNMENT & AGENCIES (Cost $3,622,399,346)					3,623,190,760
Shares
		SHORT-TERM INVESTMENTS — 8.9%
		MONEY MARKET FUNDS - 8.9%
	736,720,408	First American Treasury Obligations Fund, Class X, 4.25%(a)					736,720,408
		TOTAL SHORT-TERM INVESTMENTS (Cost $736,720,408)
		TOTAL INVESTMENTS - 102.4% (Cost $7,591,616,544)				$	8,484,666,441
		LIABILITIES IN EXCESS OF OTHER ASSETS - (2.4)%					(198,342,059	)
		NET ASSETS - 100.0%				$	8,286,324,382
OPEN FUTURES CONTRACTS
Number of Contracts		Open Long Futures Contracts	Expiration	Notional Amount(b)		Value and Unrealized Appreciation (Depreciation)
	326	3 Month Euro Euribor Future	12/15/2025	$	86,442,200	$	97,492
	2,079	3 Month Euro Euribor Future	03/16/2026		551,324,124		715,733

CATALYST/MILLBURN HEDGE STRATEGY FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

March 31, 2025

OPEN FUTURES CONTRACTS (Continued)
Number of Contracts		Open Long Futures Contracts	Expiration	Notional Amount(b)		Value and Unrealized Appreciation (Depreciation)
	1,535	3 Month Euro Euribor Future	06/15/2026	$	406,958,509	$	590,514
	1,392	3 Month Euro Euribor Future	09/14/2026		368,839,338		563,251
	1,107	3 Month Euro Euribor Future	12/15/2026		293,113,072		427,865
	994	3 Month Euro Euribor Future	03/16/2027		262,991,128		352,534
	388	3 Month Euro Euribor Future	06/15/2027		102,577,789		115,761
	4,810	BMF Ibovespa Index Future	04/17/2025		110,405,367		(1,070,077	)
	73	Carbon Emissions Future(c)	12/16/2025		5,368,971		27,815
	4,337	CBOT 10 Year US Treasury Note Future	06/19/2025		482,355,719		2,815,766
	6,793	CBOT 2 Year US Treasury Note Future	07/01/2025		1,407,318,554		2,108,686
	5,375	CBOT 5 Year US Treasury Note Future	07/01/2025		581,339,844		2,583,516
	512	CBOT US Treasury Bond Future	06/19/2025		60,048,000		341,031
	159	CBOT Wheat Future(c)	05/15/2025		4,269,150		71,837
	471	CME Canadian Dollar Currency Future	06/18/2025		32,889,930		(38,935	)
	1,115	CME E-Mini NASDAQ 100 Index Future	06/23/2025		433,500,850		4,001,255
	3,081	CME E-mini Russell 2000 Index Future	06/23/2025		312,274,755		(3,829,240	)
	2,021	CME E-Mini Standard & Poor’s 500 Index Future	06/23/2025		571,260,913		(3,902,862	)
	389	CME E-Mini Standard & Poor’s MidCap 400 Index	06/23/2025		114,311,540		1,180
	604	CME Live Cattle Future(c)	07/01/2025		49,201,840		238,040
	1,651	CME Mexican Peso Currency Future	06/17/2025		39,978,965		(401,320	)
	663	COMEX Copper Future(c)	05/29/2025		83,438,549		(1,496,564	)
	1,526	COMEX Gold 100 Troy Ounces Future(c)	06/27/2025		480,735,780		14,756,550
	1,396	E-mini Dow Jones Industrial Average Index Future	06/23/2025		294,967,820		1,421,590
	623	Eurex DAX Index Future	06/23/2025		377,048,794		(9,223,954	)
	10,344	Eurex EURO STOXX 50 Future	06/23/2025		580,709,898		(10,334,528	)
	3,173	Euronext CAC 40 Index Future	04/21/2025		267,883,863		(9,996,952	)
	441	FTSE 100 Index Future	06/23/2025		48,949,992		(57,385	)
	509	FTSE/MIB Index Future	06/23/2025		102,796,743		(1,229,631	)
	2,369	HKG Hang Seng China Enterprises Index Future	04/30/2025		129,683,059		(1,033,512	)
	1,937	HKG Hang Seng Index Future	04/30/2025		288,293,761		(3,121,108	)
	10,253	ICE Brent Crude Oil Future(c)	05/01/2025		766,616,810		36,432,850
	3,218	ICE Brent Crude Oil Future(c)	06/02/2025		238,035,460		12,631,900
	754	ICE Brent Crude Oil Future(c)	07/01/2025		55,230,500		2,573,770
	501	ICE Brent Crude Oil Future(c)	08/01/2025		36,372,600		1,697,160
	220	ICE Brent Crude Oil Future(c)	09/02/2025		15,848,800		636,340
	136	ICE Brent Crude Oil Future(c)	10/01/2025		9,730,800		359,790
	871	ICE Gas Oil Future(c)	05/13/2025		59,402,200		1,166,575
	536	ICE Gas Oil Future(c)	06/13/2025		36,273,800		785,950
	276	ICE Gas Oil Future(c)	07/11/2025		18,567,900		234,600
	1,215	ICE US mini MSCI EAFE Index Future	06/23/2025		146,790,225		(1,013,265	)
	435	ICE US MSCI Emerging Markets EM Index Future	06/23/2025		24,159,900		87,485
	720	IFSC NIFTY 50 Index Future	04/25/2025		33,650,640		(330,806	)
	1,927	KFE KOSPI 200 Index Future	06/13/2025		109,147,532		(2,522,217	)
	141	LME Copper Future(c)	06/17/2025		34,218,233		(223,524	)
	485	MEFF Madrid IBEX 35 Index Future	04/21/2025		68,843,974		(719,550	)
	499	Montreal Exchange S&P/TSX 60 Index Future	06/20/2025		103,874,234		671,381
	323	NYBOT CSC C Coffee Future(c)	05/20/2025		45,997,219		(1,212,468	)
	81	NYBOT CSC Cocoa Future(c)	05/15/2025		6,400,620		(337,400	)

CATALYST/MILLBURN HEDGE STRATEGY FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

March 31, 2025

OPEN FUTURES CONTRACTS (Continued)
Number of Contracts		Open Long Futures Contracts	Expiration	Notional Amount(b)		Value and Unrealized Appreciation (Depreciation)
	486	NYMEX Henry Hub Natural Gas Future(c)	04/29/2025	$	20,018,340	$	1,024,890
	327	NYMEX Henry Hub Natural Gas Future(c)	05/29/2025		13,920,390		525,450
	75	NYMEX Henry Hub Natural Gas Future(c)	06/27/2025		3,355,500		142,550
	106	NYMEX Henry Hub Natural Gas Future(c)	07/30/2025		4,817,700		81,730
	39	NYMEX Henry Hub Natural Gas Future(c)	08/28/2025		1,756,560		49,140
	5,058	NYMEX Light Sweet Crude Oil Future(c)	04/23/2025		361,545,840		20,772,000
	1,095	NYMEX Light Sweet Crude Oil Future(c)	05/21/2025		77,690,250		4,369,290
	373	NYMEX Light Sweet Crude Oil Future(c)	06/23/2025		26,229,360		1,359,860
	164	NYMEX Light Sweet Crude Oil Future(c)	07/23/2025		11,422,600		567,730
	97	NYMEX Light Sweet Crude Oil Future(c)	08/21/2025		6,692,030		299,550
	64	NYMEX Light Sweet Crude Oil Future(c)	09/23/2025		4,376,960		147,440
	496	NYMEX NY Harbor ULSD Future(c)	05/01/2025		47,484,461		1,623,237
	226	NYMEX NY Harbor ULSD Future(c)	06/02/2025		21,443,377		562,392
	80	NYMEX NY Harbor ULSD Future(c)	07/01/2025		7,576,128		268,204
	33	NYMEX NY Harbor ULSD Future(c)	08/01/2025		3,124,460		72,488
	65	NYMEX Platinum Future(c)	07/30/2025		3,339,375		122,400
	311	NYMEX Reformulated Gasoline Blendstock for Oxygen Future(c)	06/02/2025		29,787,891		1,425,211
	140	NYMEX Reformulated Gasoline Blendstock for Oxygen Future(c)	07/01/2025		13,285,272		564,115
	87	NYMEX Reformulated Gasoline Blendstock for Oxygen Future(c)	08/01/2025		8,142,574		386,745
	333	NYMEX Reformulated Gasoline Blendstock for Oxygen Future(c)	05/01/2025		32,037,730		1,453,380
	404	OSE Nikkei 225 Index Future	06/13/2025		96,072,448		(194,491	)
	70	SAFEX FTSE/JSE Top 40 Index Future	06/20/2025		3,138,769		(787	)
	549	SFE S&P ASX Share Price Index 200 Future	06/20/2025		67,561,445		(457,405	)
	226	SGX FTSE China A50 Future	04/30/2025		3,013,484		(31,362	)
	62	SGX Nikkei 225 Stock Index Future	06/13/2025		7,379,131		(46,383	)
	1,936	TEF SET50 Index Future	06/30/2025		8,327,433		(196,339	)
	13	Three Month SONIA Index Future	03/17/2026		4,033,372		2,314
	81	Three Month SONIA Index Future	12/15/2026		25,155,864		20,955
	175	Three Month SONIA Index Future	03/17/2027		54,346,264		30,357
	44	Three Month SONIA Index Future	06/16/2027		13,662,072		7,150
	73	Three Month SONIA Index Future	09/15/2027		22,663,083		7,768
	3,439	Three-Month SOFR Future	03/17/2026		828,584,062		983,348
	2,452	Three-Month SOFR Future	06/16/2026		591,514,350		1,018,987
	3,026	Three-Month SOFR Future	09/15/2026		730,438,575		1,044,550
	2,763	Three-Month SOFR Future	12/16/2026		667,091,813		1,027,600
	1,930	Three-Month SOFR Future	03/17/2027		465,926,125		571,675
	1,628	Three-Month SOFR Future	06/16/2027		392,938,150		480,112
	1,376	Three-Month SOFR Future	09/15/2027		332,011,600		427,125
	358	TSE Japanese 10 Year Bond Future	06/16/2025		330,411,587		1,485,103
	143	TSE TOPIX (Tokyo Price Index) Future	06/13/2025		25,385,180		(150,578	)
	355	Ultra U.S. Treasury Bond Future	06/19/2025		43,398,750		330,656
		TOTAL LONG FUTURES CONTRACTS				$	78,591,076

CATALYST/MILLBURN HEDGE STRATEGY FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

March 31, 2025

OPEN FUTURES CONTRACTS
Number of Contracts		Open Short Futures Contracts	Expiration	Notional Amount(b)		Value and Unrealized Appreciation (Depreciation)
	3,732	CBOT Corn Future(c)	05/15/2025	$	85,322,850	$	931,750
	1,573	CBOT Soybean Future(c)	05/15/2025		79,810,088		67,875
	359	CBOT Soybean Meal Future(c)	05/15/2025		10,507,930		213,280
	187	CBOT Soybean Oil Future(c)	05/15/2025		5,036,658		6,534
	55	CME Australian Dollar Currency Future	06/17/2025		3,439,425		63,895
	1,011	CME British Pound Currency Future	06/17/2025		81,581,381		290,975
	868	CME Euro Foreign Exchange Currency Future	06/17/2025		117,852,700		686,062
	428	CME Japanese Yen Currency Future	06/17/2025		35,946,650		200,408
	113	CME Lean Hogs Future(c)	06/16/2025		4,306,430		3,740
	84	CME New Zealand Dollar Currency Future	06/17/2025		4,777,080		(5,690	)
	203	CME Swiss Franc Currency Future	06/17/2025		28,945,263		252,706
	149	COMEX Silver Future(c)	05/29/2025		25,785,195		20,005
	10,893	Eurex 10 Year Euro BUND Future	06/09/2025		1,518,278,903		5,525,148
	5,090	Eurex 2 Year Euro SCHATZ Future	06/09/2025		588,987,288		(1,110,606	)
	1,719	Eurex 30 Year Euro BUXL Future	06/09/2025		221,798,053		(1,467,225	)
	9,858	Eurex 5 Year Euro BOBL Future	06/09/2025		1,256,273,742		4,112,229
	390	Euro-BTP Italian Bond Future	06/09/2025		49,586,498		1,066,023
	7,203	French Government Bond Future	06/09/2025		956,113,892		7,550,815
	255	KCBT Hard Red Winter Wheat Future(c)	05/15/2025		7,101,750		367,601
	69	LME Lead Future(c)	06/17/2025		3,467,129		27,417
	9	LME Nickel Future(c)	06/17/2025		858,020		129
	167	LME Primary Aluminum Future(c)	06/17/2025		10,564,044		142,987
	8	LME Zinc Future(c)	06/17/2025		570,804		1,370
	3,519	Long Gilt Future	06/27/2025		416,831,953		695,579
	94	Montreal Exchange 10 Year Canadian Bond Future	06/20/2025		8,110,657		19,703
	60	NYBOT CSC Number 11 World Sugar Future(c)	05/01/2025		1,267,392		6,854
	301	NYBOT CTN Number 2 Cotton Future(c)	05/08/2025		10,057,915		(119,805	)
	1,961	SFE 10 Year Australian Bond Future	06/17/2025		138,061,201		(1,052,604	)
	792	SFE 3 Year Australian Bond Future	06/17/2025		52,712,708		(153,739	)
	46	SGX FTSE Taiwan Index Futures	04/30/2025		3,197,460		131,380
	120	Three Month SONIA Index Futures	06/16/2026		37,254,383		(24,652	)
	78	Three Month SONIA Index Futures	09/15/2026		24,222,906		(17,565	)
	185	TTF Natural Gas Base Load Monthly Futures(c)	04/30/2025		6,055,832		59,379
		TOTAL SHORT FUTURES CONTRACTS				$	18,491,958
		TOTAL FUTURES CONTRACTS				$	97,083,034

CATALYST/MILLBURN HEDGE STRATEGY FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited)

March 31, 2025

OPEN CURRENCY CONTRACTS
Foreign Currency	Settlement Date	Counterparty	Local Currency		U.S. Dollar Value		Unrealized Appreciation/ (Depreciation)
To Buy:
Australian Dollar	04/01/2025	Bank Of America Merrill Lynch		110,040,000	$	68,766,404	$	(477,367	)
British Pound	04/01/2025	Deutsche Bank		132,680,000		171,405,686		(315,404	)
Canadian Dollar	04/01/2025	Deutsche Bank		23,960,000		16,652,071		(3,148	)
Euro	04/01/2025	Deutsche Bank		63,130,000		68,300,337		(19,926	)
Israeli Shekel	04/01/2025	Bank Of America Merrill Lynch		16,670,000		4,481,544		(34,603	)
Japanese Yen	04/01/2025	Deutsche Bank		9,604,000,000		64,045,452		167,612
Mexican Peso	04/01/2025	Deutsche Bank		2,303,489,999		112,544,889		(382,857	)
New Zealand Dollar	04/01/2025	Bank Of America Merrill Lynch		11,990,000		6,809,405		(56,844	)
Norwegian Krone	04/01/2025	Bank Of America Merrill Lynch		386,750,000		36,766,348		(199,167	)
Polish Zloty	04/01/2025	Bank Of America Merrill Lynch		56,000,000		14,462,064		32,117
Singapore Dollar	04/01/2025	Bank Of America Merrill Lynch		32,780,000		24,398,958		(59,530	)
South African Rand	04/01/2025	Bank Of America Merrill Lynch		469,560,000		25,617,301		69,828
Swedish Krona	04/01/2025	Bank Of America Merrill Lynch		259,250,000		25,795,584		(153,419	)
Swiss Franc	04/01/2025	Bank Of America Merrill Lynch		65,460,000		74,007,078		(241,704	)
USD	04/01/2025	Bank Of America Merrill Lynch		43,450,000		5,980,730		3,966
Australian Dollar	04/02/2025	Bank Of America Merrill Lynch		28,200,000		17,622,797		(14,690	)
British Pound	04/02/2025	Deutsche Bank		96,370,000		124,497,785		74,807
Euro	04/02/2025	Deutsche Bank		91,890,000		99,415,776		174
Israeli Shekel	04/02/2025	Bank Of America Merrill Lynch		49,260,000		13,243,003		27,711
Japanese Yen	04/02/2025	Deutsche Bank		17,753,999,999		118,394,730		(66,506	)
Mexican Peso	04/02/2025	Deutsche Bank		1,761,679,999		86,072,907		(207,826	)
New Zealand Dollar	04/02/2025	Bank Of America Merrill Lynch		72,520,000		41,185,825		88,707
Norwegian Krone	04/02/2025	Bank Of America Merrill Lynch		739,780,000		70,327,109		70,974
Polish Zloty	04/02/2025	Bank Of America Merrill Lynch		39,240,000		10,133,774		13,434
Singapore Dollar	04/02/2025	Bank Of America Merrill Lynch		167,900,000		124,972,088		(118,857	)
South African Rand	04/02/2025	Bank Of America Merrill Lynch		1,123,660,000		61,302,360		68,967
Swedish Krona	04/02/2025	Bank Of America Merrill Lynch		129,230,000		12,858,489		7,493
Swiss Franc	04/02/2025	Bank Of America Merrill Lynch		94,670,000		107,031,013		(275,911	)
USD	04/02/2025	Bank Of America Merrill Lynch		738,700,000		101,679,286		(48,916	)
Australian Dollar	04/16/2025	Bank Of America Merrill Lynch		914,070,000		571,287,831		(3,960,434	)
Brazilian Real	04/16/2025	Bank Of America Merrill Lynch		3,740,009,999		653,699,791		10,994,219
British Pound	04/16/2025	Deutsche Bank		787,110,000		1,016,813,531		(2,021,411	)
Canadian Dollar	04/16/2025	Deutsche Bank		906,180,000		630,224,127		(1,735,129	)
Chilean Peso	04/16/2025	Bank Of America Merrill Lynch		102,056,000,000		107,365,877		(762,468	)
Euro	04/16/2025	Deutsche Bank		1,749,370,000		1,894,075,882		10,573,487
Indian Rupee	04/16/2025	Bank Of America Merrill Lynch		13,894,450,000		162,417,324		2,723,381
Israeli Shekel	04/16/2025	Bank Of America Merrill Lynch		242,430,000		65,198,260		(1,264,170	)
Japanese Yen	04/16/2025	Deutsche Bank		123,989,999,991		828,146,070		(5,227,551	)
Mexican Peso	04/16/2025	Deutsche Bank		21,771,329,997		1,061,690,750		(5,675,224	)
New Zealand Dollar	04/16/2025	Bank Of America Merrill Lynch		800,320,000		454,682,577		(3,395,349	)
Norwegian Krone	04/16/2025	Bank Of America Merrill Lynch		3,860,310,000		366,974,645		8,743,361
Polish Zloty	04/16/2025	Bank Of America Merrill Lynch		1,091,010,000		281,607,048		2,954,229

CATALYST/MILLBURN HEDGE STRATEGY FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

March 31, 2025

OPEN CURRENCY CONTRACTS (Continued)
Foreign Currency	Settlement Date	Counterparty	Local Currency		U.S. Dollar Value		Unrealized Appreciation/ (Depreciation)
To Buy: (continued)
Singapore Dollar	04/16/2025	Bank Of America Merrill Lynch		541,310,000	$	403,223,061	$	(3,374,821	)
South African Rand	04/16/2025	Bank Of America Merrill Lynch		3,190,709,999		173,879,705		1,666,525
South Korean Won	04/16/2025	Bank Of America Merrill Lynch		287,875,999,996		195,500,046		(1,995,348	)
Swedish Krona	04/16/2025	Bank Of America Merrill Lynch		5,157,050,000		513,565,892		3,344,891
Swiss Franc	04/16/2025	Bank Of America Merrill Lynch		755,500,000		855,577,555		(2,290,076	)
US Dollars	04/16/2025	Bank Of America Merrill Lynch		87,161,853		87,161,853		1,693,570
USD	04/16/2025	Bank Of America Merrill Lynch		5,327,899,999		734,134,982		(2,920,341	)
Australian Dollar	05/21/2025	Bank Of America Merrill Lynch		34,610,000		21,637,115		(147,828	)
British Pound	05/21/2025	Deutsche Bank		287,490,000		371,374,786		(145,033	)
Israeli Shekel	05/21/2025	Bank Of America Merrill Lynch		162,920,000		43,853,566		(476,918	)
Japanese Yen	05/21/2025	Deutsche Bank		25,789,999,998		172,943,768		(178,184	)
New Zealand Dollar	05/21/2025	Bank Of America Merrill Lynch		184,310,000		104,800,662		(1,081,116	)
Norwegian Krone	05/21/2025	Bank Of America Merrill Lynch		1,290,260,000		122,656,703		(28,044	)
Singapore Dollar	05/21/2025	Bank Of America Merrill Lynch		70,830,000		52,857,244		(178,974	)
South Korean Won	05/21/2025	Bank Of America Merrill Lynch		5,144,000,000		3,498,979		(7,064	)
					$	13,659,620,423	$	3,777,295
To Sell:
Australian Dollar	04/01/2025	Bank Of America Merrill Lynch		110,040,000	$	68,766,404	$	498,265
British Pound	04/01/2025	Deutsche Bank		132,680,000		171,405,688		373,311
Canadian Dollar	04/01/2025	Deutsche Bank		23,960,000		16,652,071		20,395
CNH	04/01/2025	Bank Of America Merrill Lynch		43,450,000		5,980,730		(4,919	)
Euro	04/01/2025	Deutsche Bank		63,130,000		68,300,341		(193,465	)
Israeli Shekel	04/01/2025	Bank Of America Merrill Lynch		16,670,000		4,481,542		30,092
Japanese Yen	04/01/2025	Deutsche Bank		9,603,999,999		64,045,453		(60,728	)
Mexican Peso	04/01/2025	Deutsche Bank		2,303,490,000		112,544,889		421,525
New Zealand Dollar	04/01/2025	Bank Of America Merrill Lynch		11,990,000		6,809,404		54,734
Norwegian Krone	04/01/2025	Bank Of America Merrill Lynch		386,750,000		36,766,349		102,079
Polish Zloty	04/01/2025	Bank Of America Merrill Lynch		56,000,000		14,462,063		39,715
Singapore Dollar	04/01/2025	Bank Of America Merrill Lynch		32,780,000		24,398,957		69,351
South African Rand	04/01/2025	Bank Of America Merrill Lynch		469,560,000		25,617,303		160,657
Swedish Krona	04/01/2025	Bank Of America Merrill Lynch		259,250,000		25,795,585		49,441
Swiss Franc	04/01/2025	Bank Of America Merrill Lynch		65,460,000		74,007,077		242,420
Australian Dollar	04/02/2025	Bank Of America Merrill Lynch		28,200,000		17,622,798		(31,636	)
British Pound	04/02/2025	Deutsche Bank		96,370,000		124,497,783		274,761
CNH	04/02/2025	Bank Of America Merrill Lynch		738,700,000		101,679,284		(12,315	)
Euro	04/02/2025	Deutsche Bank		91,890,000		99,415,774		(81,870	)
Israeli Shekel	04/02/2025	Bank Of America Merrill Lynch		49,260,000		13,243,002		17,692
Japanese Yen	04/02/2025	Deutsche Bank		17,754,000,000		118,394,731		110,158
Mexican Peso	04/02/2025	Deutsche Bank		1,761,680,000		86,072,910		204,296
New Zealand Dollar	04/02/2025	Bank Of America Merrill Lynch		72,520,000		41,185,826		(43,972	)
Norwegian Krone	04/02/2025	Bank Of America Merrill Lynch		739,780,000		70,327,109		(91,941	)
Polish Zloty	04/02/2025	Bank Of America Merrill Lynch		39,240,000		10,133,773		2,054
Singapore Dollar	04/02/2025	Bank Of America Merrill Lynch		167,900,000		124,972,087		252,331
South African Rand	04/02/2025	Bank Of America Merrill Lynch		1,123,660,000		61,302,359		56,249
Swedish Krona	04/02/2025	Bank Of America Merrill Lynch		129,230,000		12,858,489		27,205
Swiss Franc	04/02/2025	Bank Of America Merrill Lynch		94,670,000		107,031,012		13,312
Australian Dollar	04/16/2025	Bank Of America Merrill Lynch		914,070,000		571,287,832		751,365

CATALYST/MILLBURN HEDGE STRATEGY FUND

CONSOLIDATED SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

March 31, 2025

							Unrealized
Foreign Currency	Settlement Date	Counterparty	Local Currency		U.S. Dollar Value		Appreciation/ (Depreciation)
To Sell: (continued)
Brazilian Real	04/16/2025	Bank Of America Merrill Lynch		131,020,000	$	22,900,405	$	(315,787	)
British Pound	04/16/2025	Deutsche Bank		787,110,000		1,016,813,533		(14,729,036	)
Canadian Dollar	04/16/2025	Deutsche Bank		663,320,000		461,321,446		(688,978	)
Chilean Peso	04/16/2025	Bank Of America Merrill Lynch		55,523,000,000		58,411,804		1,620,297
CNH	04/16/2025	Bank Of America Merrill Lynch		10,036,329,999		1,382,912,774		1,930,068
Euro	04/16/2025	Deutsche Bank		1,922,370,000		2,081,386,250		(50,913,080	)
Indian Rupee	04/16/2025	Bank Of America Merrill Lynch		3,092,730,000		36,152,055		(312,479	)
Israeli Shekel	04/16/2025	Bank Of America Merrill Lynch		242,430,000		65,198,261		999,074
Japanese Yen	04/16/2025	Deutsche Bank		123,989,999,993		828,146,071		8,967,405
Mexican Peso	04/16/2025	Deutsche Bank		11,435,170,000		557,642,287		45,182
New Zealand Dollar	04/16/2025	Bank Of America Merrill Lynch		800,320,000		454,682,576		(3,168,207	)
Norwegian Krone	04/16/2025	Bank Of America Merrill Lynch		3,860,309,999		366,974,644		(22,705,167	)
Polish Zloty	04/16/2025	Bank Of America Merrill Lynch		275,650,000		71,149,653		130,333
Singapore Dollar	04/16/2025	Bank Of America Merrill Lynch		541,310,000		403,223,059		363,122
South African Rand	04/16/2025	Bank Of America Merrill Lynch		3,190,710,000		173,879,704		71,346
South Korean Won	04/16/2025	Bank Of America Merrill Lynch		162,023,000,000		110,031,758		1,463,495
Swedish Krona	04/16/2025	Bank Of America Merrill Lynch		4,505,900,000		448,720,982		(17,796,223	)
Swiss Franc	04/16/2025	Bank Of America Merrill Lynch		1,098,160,000		1,243,628,129		(3,335,863	)
Australian Dollar	05/21/2025	Bank Of America Merrill Lynch		23,800,000		14,879,033		(6,901	)
British Pound	05/21/2025	Deutsche Bank		306,830,000		396,357,877		572,976
Israeli Shekel	05/21/2025	Bank Of America Merrill Lynch		136,960,000		36,865,851		229,585
Japanese Yen	05/21/2025	Deutsche Bank		31,343,999,998		210,188,037		(582,014	)
New Zealand Dollar	05/21/2025	Bank Of America Merrill Lynch		160,100,000		91,034,594		414,335
Norwegian Krone	05/21/2025	Bank Of America Merrill Lynch		587,610,000		55,860,295		153,467
Singapore Dollar	05/21/2025	Bank Of America Merrill Lynch		202,850,000		151,377,833		181,624
South African Rand	05/21/2025	Bank Of America Merrill Lynch		413,980,000		22,495,947		(69,593	)
South Korean Won	05/21/2025	Bank Of America Merrill Lynch		44,047,999,999		29,961,711		56,545
					$	13,072,255,194	$	(94,173,912	)
Total							$	(90,396,617	)

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 March 31, 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 affect 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 CMHSF Fund Limited.
(d)	Held as collateral for futures.

CATALYST DYNAMIC ALPHA FUND

SCHEDULE OF INVESTMENTS (Unaudited)

March 31, 2025

Shares			Fair Value
		COMMON STOCKS — 99.2%
		AEROSPACE & DEFENSE - 4.0%
	3,065	TransDigm Group, Inc.	$	4,239,783
		APPAREL & TEXTILE PRODUCTS - 2.8%
	13,665	Ralph Lauren Corporation		3,016,412
		ASSET MANAGEMENT - 7.0%
	35,575	Apollo Global Management, Inc.		4,871,641
	2,825	Blackrock, Inc.		2,673,806
				7,545,447
		BANKING - 3.2%
	60,480	HSBC Holdings plc - ADR(b)		3,473,366
		BIOTECH & PHARMA - 4.0%
	19,200	Corcept Therapeutics, Inc.(a),(b)		2,193,024
	19,350	Novartis A.G. - ADR		2,157,138
				4,350,162
		E-COMMERCE DISCRETIONARY - 4.8%
	26,955	Amazon.com, Inc.(a)		5,128,458
		ELECTRICAL EQUIPMENT - 3.6%
	59,740	Amphenol Corporation, Class A		3,918,347
		ENTERTAINMENT CONTENT - 2.8%
	23,225	Sea Ltd. - ADR(a)		3,030,630
		HEALTH CARE FACILITIES & SERVICES - 5.4%
	22,500	Cardinal Health, Inc.		3,099,825
	15,925	Quest Diagnostics, Inc.		2,694,510
				5,794,335
		HEALTH CARE REIT - 1.9%
	29,550	Ventas, Inc.		2,031,858
		INSURANCE - 6.7%
	36,580	Brown & Brown, Inc.(b)		4,550,552

CATALYST DYNAMIC ALPHA FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

March 31, 2025

Shares			Fair Value
		COMMON STOCKS — 99.2% (Continued)
		INSURANCE - 6.7% (Continued)
	84,090	Corebridge Financial, Inc.	$	2,654,721
				7,205,273
		INTERNET MEDIA & SERVICES - 9.1%
	24,300	Alphabet, Inc., Class A		3,757,752
	11,500	Expedia Group, Inc.		1,933,150
	15,500	Reddit, Inc., Class A(a)		1,625,950
	9,575	VeriSign, Inc.(a)		2,430,805
				9,747,657
		OIL & GAS PRODUCERS - 3.4%
	129,875	Kinder Morgan, Inc.		3,705,334
		RETAIL - CONSUMER STAPLES - 3.3%
	3,800	Costco Wholesale Corporation		3,593,964
		SEMICONDUCTORS - 4.6%
	29,300	Taiwan Semiconductor Manufacturing Company Ltd. - ADR		4,863,801
		SOFTWARE - 9.8%
	7,875	Atlassian Corporation, Class A(a)		1,671,154
	7,975	Crowdstrike Holdings, Inc., CLASS A(a)		2,811,825
	6,925	Duolingo, Inc.(a)		2,150,490
	20,925	Shopify, Inc., CLASS A(a)		1,997,919
	22,425	SS&C Technologies Holdings, Inc.		1,873,160
				10,504,548
		SPECIALTY FINANCE - 3.9%
	15,575	American Express Company		4,190,454
		TECHNOLOGY HARDWARE - 13.5%
	57,450	Corning, Inc.		2,630,061
	13,100	F5, Inc.(a)		3,488,137
	112,815	Flex Ltd.(a)		3,731,920
	10,455	Motorola Solutions, Inc.		4,577,304
				14,427,422

CATALYST DYNAMIC ALPHA FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

March 31, 2025

Shares			Fair Value
		COMMON STOCKS — 99.2% (Continued)
		TRANSPORTATION EQUIPMENT - 2.9%
	9,970	Cummins, Inc.	$	3,124,997
		WHOLESALE - CONSUMER STAPLES - 2.5%
	40,800	US Foods Holding Corporation(a)		2,670,768
		TOTAL COMMON STOCKS (Cost $90,642,950)		106,563,016
		SHORT-TERM INVESTMENT— 8.5%
		COLLATERAL FOR SECURITIES LOANED - 8.5%
	9,144,135	Mount Vernon Liquid Assets Portfolio, 4.42% (Cost $9,144,135)(c)		9,144,135
		TOTAL INVESTMENTS - 107.7% (Cost $99,787,085)	$	115,707,151
		LIABILITIES IN EXCESS OF OTHER ASSETS - (7.7)%		(8,270,236	)
		NET ASSETS - 100.0%	$	107,436,915

ADR	- American Depositary Receipt
LTD	- Limited Company
PLC	- Public Limited Company
REIT	- Real Estate Investment Trust

(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 March 31, 2025 was $10,091,893.
(c)	Rate disclosed is the seven day effective yield as of March 31, 2025.
(d)	Security was purchased with cash received as collateral for securities on loan at March 31, 2025. Total collateral had a value of $9,144,135 at March 31, 2025.

CATALYST/CIFC SENIOR SECURED INCOME FUND

SCHEDULE OF INVESTMENTS (Unaudited)

March 31, 2025

Shares			Fair Value
		EXCHANGE-TRADED FUNDS — 4.4%
		FIXED INCOME - 4.4%
	711,031	Invesco Senior Loan ETF	$	14,718,342
	374,591	SPDR Blackstone Senior Loan ETF		15,406,928
		TOTAL EXCHANGE-TRADED FUNDS (Cost $30,558,863)		30,125,270

Principal Amount ($)			Spread	Coupon Rate (%)	Maturity
		ASSET BACKED SECURITIES — 5.4%
		CLO — 5.4%
	2,000,000	Apidos CLO LI Ltd. Series 2024-51A E(a),(b)	TSFR3M + 4.850%	9.1470	01/20/38	1,988,852
	1,500,000	Apidos Clo XL Ltd. Series 2022-40A ER(a),(b)	TSFR3M + 5.600%	9.9020	07/15/37	1,495,259
	1,250,000	Apidos CLO XXXII Series 2019-32A ER(a),(b)	TSFR3M + 5.500%	9.7900	01/20/33	1,249,871
	500,000	ARES XLVII CLO Ltd. Series 2018-47A E(a),(b)	TSFR3M + 5.762%	10.0640	04/15/30	499,823
	1,000,000	Benefit Street Partners CLO XVI Ltd. Series 2018-16A ER2(a),(b)	TSFR3M + 4.900%	9.2220	01/17/38	989,650
	1,510,000	Benefit Street Partners CLO XXVIII Ltd. Series 2022-28A ER(a),(b)	TSFR3M + 5.400%	9.6930	10/20/37	1,514,637
	1,500,000	Betony CLO 2 Ltd. Series 2018-1A D(a),(b)	TSFR3M + 5.912%	10.1990	04/30/31	1,484,531
	500,000	BlueMountain CLO Ltd. Series 2018-3A E(a),(b)	TSFR3M + 6.212%	10.5120	10/25/30	495,271
	500,000	BlueMountain CLO XXII Ltd. Series 2018-22A E(a),(b)	TSFR3M + 5.312%	9.6140	07/15/31	479,722
	500,000	Carbone Clo Ltd. Series 2017-1A D(a),(b)	TSFR3M + 6.162%	10.4550	01/20/31	493,649
	1,250,000	Carlyle Global Market Strategies CLO Ltd. Series 2014-3RA D(a),(b)	TSFR3M + 5.662%	9.9620	07/27/31	1,234,375
	2,000,000	Carlyle Global Market Strategies CLO Ltd. Series 2014-2RA D(a),(b)	TSFR3M + 5.612%	9.9350	05/15/31	1,945,564
	500,000	Carlyle Global Market Strategies CLO Ltd. Series 2014-1A ER(a),(b)	TSFR3M + 5.662%	9.9640	04/17/31	491,313
	1,000,000	Cook Park CLO Ltd. Series 2018-1A E(a),(b)	TSFR3M + 5.662%	9.9640	04/17/30	991,882
	1,000,000	Dewolf Park CLO Ltd. Series 2017-1A E(a),(b)	TSFR3M + 6.462%	10.7640	10/15/30	996,247
	750,000	Dryden 54 Senior Loan Fund Series 2017-54A E(a),(b)	TSFR3M + 6.462%	10.7550	10/19/29	750,864
	500,000	Galaxy XV CLO Ltd. Series 2013-15A ER(a),(b)	TSFR3M + 6.907%	11.2090	10/15/30	499,330
	624,000	Galaxy XX CLO Ltd. Series 2015-20A ER(a),(b)	TSFR3M + 5.562%	9.8550	04/20/31	619,574
	500,000	Galaxy XXI CLO Ltd. Series 2015-21A ER(a),(b)	TSFR3M + 5.512%	9.8050	04/20/31	496,624
	1,000,000	Greenwood Park CLO Ltd. Series 2018-1A E(a),(b)	TSFR3M + 5.212%	9.5140	04/15/31	989,589
	500,000	Harbor Park CLO Ltd. Series 2018-1A E(a),(b)	TSFR3M + 5.862%	10.1550	01/20/31	497,055
	500,000	Highbridge Loan Management Ltd. Series 2013-2A DR(a),(b)	TSFR3M + 6.862%	11.1550	10/20/29	499,225
	500,000	Magnetite XV Ltd. Series 2015-15A ER(a),(b)	TSFR3M + 5.462%	9.7620	07/25/31	496,177
	1,500,000	Meacham Park CLO Ltd. Series 2024-1A E(a),(b)	TSFR3M + 5.350%	10.1390	10/20/37	1,494,401
	500,000	Midocean Credit CLO IX Series 2018-9A E(a),(b)	TSFR3M + 6.312%	10.6050	07/20/31	494,243

CATALYST/CIFC SENIOR SECURED INCOME FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

March 31, 2025

Principal Amount ($)			Spread	Coupon Rate (%)	Maturity	Fair Value
		ASSET BACKED SECURITIES — 5.4% (Continued)
		CLO — 5.4% (Continued)
	500,000	Neuberger Berman Loan Advisers CLO 59 Ltd. Series 2024-59A E(a),(b)	TSFR3M + 4.800%	9.0970	01/23/39	$	494,163
	500,000	Octagon Investment Partners 26 Ltd. Series 2016-1A ER(a),(b)	TSFR3M + 5.662%	9.9640	07/15/30		473,750
	500,000	Octagon Investment Partners 37 Ltd. Series 2018-2A D(a),(b)	TSFR3M + 5.662%	9.9620	07/25/30		487,682
	500,000	Octagon Investment Partners XVII Ltd. Series 2013-1A ER2(a),(b)	TSFR3M + 5.412%	9.7120	01/25/31		487,900
	1,500,000	Octagon Investment Partners XXII Ltd. Series 2014-1A ERR(a),(b)	TSFR3M + 5.712%	10.0020	01/22/30		1,438,067
	1,325,000	OHA Credit Funding 2 Ltd. Series 2019-2A ER2(a),(b)	TSFR3M + 4.800%	9.0800	01/21/38		1,301,710
	750,000	OHA Credit Partners VII Ltd. Series 2012-7A ER4(a),(b)	TSFR3M + 4.500%	8.8220	02/20/38		741,686
	2,000,000	Palmer Square CLO Ltd. Series 2023-1A ER(a),(b)	TSFR3M + 4.900%	9.1930	01/20/38		1,996,612
	1,000,000	Regatta XIV Funding Ltd. Series 2018-3A E(a),(b)	TSFR3M + 6.212%	10.5120	10/25/31		992,016
	1,000,000	Rockford Tower CLO Ltd. Series 2017-3A E(a),(b)	TSFR3M + 6.012%	10.3050	10/20/30		983,335
	1,000,000	Shackleton 2013-IV-R CLO Ltd. Series 2013-4RA D(a),(b)	TSFR3M + 6.112%	10.4010	04/13/31		954,585
	1,000,000	THL Credit Wind River Clo Ltd. Series 2018-1A E(a),(b)	TSFR3M + 5.762%	10.0640	07/15/30		995,311
	500,000	Upland CLO Ltd. Series 2016-1A DR(a),(b)	TSFR3M + 6.162%	10.4550	04/20/31		483,270
	1,000,000	VOYA CLO Series 2017-2A D(a),(b)	TSFR3M + 6.282%	10.5840	06/07/30		976,575
	508,564	Wellfleet CLO Ltd. Series 2015-1A ER3(a),(b)	TSFR3M + 7.312%	11.6050	07/20/29		368,811
	500,000	Wellfleet CLO Ltd. Series 2018-2A D(a),(b)	TSFR3M + 6.332%	10.6250	10/20/31		495,132
		TOTAL ASSET BACKED SECURITIES (Cost $37,059,235)					36,858,333
Principal Amount ($)				Coupon Rate (%)	Maturity
		CORPORATE BONDS — 4.7%
		ADVERTISING & MARKETING — 0.3%
	2,000,000	Outfront Media Capital, LLC / Outfront Media Capital Corporation(a)		4.2500	01/15/29		1,856,336
		CHEMICALS — 0.4%
	3,000,000	Valvoline, Inc.(a)		3.6250	06/15/31		2,609,421
		CONTAINERS & PACKAGING — 0.4%
	1,144,000	Clydesdale Acquisition Holdings, Inc.(a)		6.7500	04/15/32		1,151,822
	1,441,000	Graphic Packaging International, LLC(a)		3.5000	03/01/29		1,330,145
							2,481,967
		ELECTRIC UTILITIES — 0.2%
	1,510,000	Lightning Power, LLC(a)		7.2500	08/15/32		1,555,848

CATALYST/CIFC SENIOR SECURED INCOME FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

March 31, 2025

Principal Amount ($)			Coupon Rate (%)	Maturity	Fair Value
		CORPORATE BONDS — 4.7% (Continued)
		ELECTRICAL EQUIPMENT — 0.3%
	2,000,000	Sensata Technologies, Inc.(a)	3.7500	02/15/31	$	1,748,335
		FOOD — 0.4%
	2,351,000	Chobani Holdco II, LLC(a)	8.7500	10/01/29		2,551,289
		HEALTH CARE FACILITIES & SERVICES — 0.5%
	1,300,000	DaVita, Inc.(a)	6.8750	09/01/32		1,307,512
	1,090,000	LifePoint Health, Inc.(a)	11.0000	10/15/30		1,185,693
	910,000	LifePoint Health, Inc.(a)	8.3750	02/15/32		916,567
						3,409,772
		HOME & OFFICE PRODUCTS — 0.3%
	219,000	Scotts Miracle-Gro Company (The)	4.0000	04/01/31		192,601
	2,137,000	Scotts Miracle-Gro Company (The)	4.3750	02/01/32		1,879,089
						2,071,690
		HOME CONSTRUCTION — 0.2%
	1,174,000	APi Group DE, Inc.(a)	4.1250	07/15/29		1,087,676
		INDUSTRIAL INTERMEDIATE PROD — 0.2%
	2,000,000	Roller Bearing Company of America, Inc.(a)	4.3750	10/15/29		1,882,025
		INSURANCE — 0.2%
	1,350,000	Acrisure, LLC / Acrisure Finance, Inc.(a)	8.5000	06/15/29		1,406,507
		OIL & GAS PRODUCERS — 0.3%
	204,000	PBF Holding Company, LLC / PBF Finance Corporation(a)	9.8750	03/15/30		192,690
	565,000	Sunoco, L.P.(a)	6.2500	07/01/33		565,605
	74,000	Venture Global LNG, Inc.(a)	8.1250	06/01/28		75,559
	93,000	Venture Global LNG, Inc.(a)	9.5000	02/01/29		99,803
	1,300,000	Venture Global LNG, Inc.(a)	9.8750	02/01/32		1,378,900
						2,312,557
		RETAIL - DISCRETIONARY — 0.5%
	2,000,000	GYP Holdings III Corporation(a)	4.6250	05/01/29		1,874,013

CATALYST/CIFC SENIOR SECURED INCOME FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

March 31, 2025

Principal Amount ($)				Coupon Rate (%)	Maturity	Fair Value
		CORPORATE BONDS — 4.7% (Continued)
		RETAIL - DISCRETIONARY — 0.5% (Continued)
	1,400,000	Metis Merger Sub, LLC(a)		6.5000	05/15/29	$	1,326,871
							3,200,884
		SPECIALTY FINANCE — 0.2%
	1,344,000	Azorra Finance Ltd.(a)		7.7500	04/15/30		1,331,311
	172,000	OneMain Finance Corporation		6.6250	05/15/29		172,536
							1,503,847
		TELECOMMUNICATIONS — 0.1%
	584,000	Windstream Escrow, LLC / Windstream Escrow Finance Corporation(a)		8.2500	10/01/31		594,905
		TRANSPORTATION & LOGISTICS — 0.2%
	1,400,000	JetBlue Airways Corp / JetBlue Loyalty, L.P.(a)		9.8750	09/20/31		1,381,841
		TOTAL CORPORATE BONDS (Cost $31,717,467)					31,654,900
			Spread
		TERM LOANS — 85.4%
		AEROSPACE & DEFENSE — 1.9%
	3,329,401	Bleriot US Bidco, Inc.(b)	TSFR1M + 4.000%	7.0790	10/31/28		3,308,858
	1,623,189	Goat Holdco, LLC(b)	TSFR1M + 3.000%	7.3240	12/10/31		1,614,399
	143,793	Kaman Corporation(b)	TSFR3M + 2.750%	7.0490	01/30/32		142,055
	1,524,207	Kaman Corporation(b)	TSFR3M + 2.750%	7.0490	01/30/32		1,505,787
	2,232,000	Signia Aerospace, LLC(b)	TSFR1M + 3.000%	7.3220	11/24/31		2,223,630
	186,000	Signia Aerospace, LLC(b)	TSFR1M + 1.000%	7.6330	11/24/31		185,303
	4,238,288	TransDigm, Inc.(b)	TSFR1M + 2.750%	7.0790	08/24/28		4,241,828
							13,221,860
		APPAREL & TEXTILE PRODUCTS — 0.7%
	3,948,911	ABG Intermediate Holdings 2, LLC(b)	TSFR1M + 2.250%	6.5950	12/21/28		3,912,601
	475,000	ABG Intermediate Holdings 2, LLC(b)	TSFR1M + 2.250%	6.5630	02/12/32		470,350
	701,285	Varsity Brands, Inc.(b)	TSFR1M + 3.500%	7.8230	08/26/31		688,795
							5,071,746
		ASSET MANAGEMENT — 5.2%
	1,553,044	Aragorn Parent Corporation(b)	TSFR1M + 4.250%	8.3390	12/08/28		1,559,675
	3,076,139	Edelman Financial Engines Center, LLC (The)(b)	TSFR1M + 3.000%	7.3750	04/07/28		3,071,018

CATALYST/CIFC SENIOR SECURED INCOME FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

March 31, 2025

Principal Amount ($)			Spread	Coupon Rate (%)	Maturity	Fair Value
		TERM LOANS — 85.4% (Continued)
		ASSET MANAGEMENT — 5.2% (Continued)
	5,750,710	Edelman Financial Engines Center, LLC (The)(b)	TSFR1M + 5.250%	9.6070	10/23/28	$	5,769,400
	6,842,061	Focus Financial Partners, LLC(b)	TSFR1M + 2.750%	7.0490	09/15/31		6,784,177
	518,000	Focus Financial Partners, LLC(b)	TSFR1M + 2.750%	7.0490	09/15/31		513,618
	1,653,424	GTCR Everest Borrower, LLC(b)	TSFR1M + 3.000%	7.0790	06/03/31		1,644,123
	2,240,933	June Purchaser, LLC(b)	TSFR1M + 3.250%	7.5790	09/11/31		2,246,536
	373,489	June Purchaser, LLC(b)	TSFR1M + 3.250%	8.4510	09/11/31		374,423
	8,129,245	Osaic Holdings, Inc.(b)	TSFR1M + 3.500%	7.8570	08/16/28		8,079,210
	5,488,485	Sophos Intermediate II Ltd.(b)	TSFR1M + 3.610%	7.9230	03/05/27		5,495,839
							35,538,019
		AUTOMOTIVE — 1.8%
	1,506,166	Clarios Global, L.P.(b)	TSFR1M + 2.500%	6.8240	05/06/30		1,488,092
	1,077,000	Clarios Global, L.P.(b)	TSFR1M + 2.750%	7.0560	01/14/32		1,062,638
	3,175,790	First Brands Group, LLC(b)	SOFRRATE + 5.000%	9.5520	03/24/27		2,958,454
	2,013,752	First Brands Group, LLC(b)	TSFR1M + 6.000%	9.5520	03/30/27		1,876,565
	1,134,141	First Brands Group, LLC(b)	TSFR6M + 8.500%	13.0520	03/30/28		1,026,398
	3,052,830	Tenneco, Inc.(b)	TSFR1M + 4.750%	9.1670	11/17/28		2,958,697
	885,000	Tenneco, Inc.(b)	TSFR1M + 5.000%	9.4250	11/17/28		863,393
							12,234,237
		BIOTECH & PHARMA — 0.4%
	923,032	Amneal Pharmaceuticals, LLC(b)	TSFR1M + 5.500%	9.8570	05/04/28		940,629
	1,511,951	Curium Bidco Sarl(b)	TSFR1M + 3.500%	7.8290	07/31/29		1,511,951
							2,452,580
		CABLE & SATELLITE — 0.2%
	1,173,724	Virgin Media Bristol, LLC(b)	TSFR1M + 3.250%	7.7240	03/06/31		1,131,781
		CHEMICALS — 2.0%
	3,720,527	Discovery Purchaser Corporation(b)	TSFR1M + 3.750%	8.0470	10/04/29		3,690,298
	100,980	INEOS Enterprises Holdings US Finco, LLC(b)	TSFR1M + 3.850%	8.1630	07/07/30		100,980
	228,000	INEOS US Petrochem, LLC(b)	TSFR1M + 4.250%	8.6070	10/02/31		214,320
	2,140,031	Nouryon Finance BV(b)	TSFR3M + 3.250%	7.5530	04/03/28		2,138,244
	1,919,527	Nouryon Finance BV(b)	TSFR3M + 3.250%	7.5540	04/03/28		1,923,136
	3,975,663	Solenis Holdings Ltd.(b)	TSFR3M + 3.000%	7.3370	06/23/31		3,919,745
	631,592	Sparta US HoldCo, LLC(b)	TSFR1M + 3.000%	7.3230	08/02/30		628,040

CATALYST/CIFC SENIOR SECURED INCOME FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

March 31, 2025

Principal Amount ($)			Spread	Coupon Rate (%)	Maturity	Fair Value
		TERM LOANS — 85.4% (Continued)
		CHEMICALS — 2.0% (Continued)
	1,041,135	Windsor Holdings III, LLC(b)	TSFR1M + 2.750%	7.0720	08/01/30	$	1,032,244
							13,647,007
		COMMERCIAL SUPPORT SERVICES — 5.9%
	174,737	Action Environmental Group, Inc. (The)(b)	TSFR1M + 4.500%	8.0790	10/05/30		174,956
	3,735,607	Allied Universal Holdco, LLC(b)	TSFR1M + 3.750%	8.2070	05/05/28		3,735,906
	539,749	Amspec Parent, LLC(b)	TSFR3M + 4.250%	8.6200	12/21/26		540,089
	3,508,370	Amspec Parent, LLC(b)	TSFR3M + 4.250%	8.6200	12/22/31		3,510,580
	605,651	Belfor Holdings, Inc.(b)	TSFR1M + 3.000%	7.3020	11/01/30		605,651
	4,414,463	CHG Healthcare Services, Inc.(b)	TSFR1M + 3.000%	7.3130	09/29/28		4,413,624
	3,999,373	Conservice Midco, LLC(b)	TSFR1M + 3.000%	7.3060	05/13/30		3,983,616
	1,343,448	Ensemble RCM, LLC(b)	TSFR1M + 3.000%	7.2910	08/03/29		1,343,737
	4,633,585	Garda World Security Corporation(b)	TSFR1M + 3.000%	7.3080	02/01/29		4,622,973
	3,251,812	Grant Thornton Advisors Holdings, LLC(b)	TSFR3M + 2.750%	7.0470	05/30/31		3,239,114
	3,732,886	Raven Acquisition Holdings, LLC(b)	TSFR1M + 3.250%	7.6070	10/24/31		3,692,440
	266,635	Raven Acquisition Holdings, LLC(b)	TSFR1M + 1.000%	8.0540	10/24/31		263,746
	529,685	Ryan, LLC(b)	TSFR1M + 4.500%	7.8570	11/09/30		528,692
	1,429,233	Teneo Holdings, LLC(b)	TSFR1M + 4.750%	9.1070	03/11/31		1,434,000
	775,000	TruGreen, L.P.(b)	TSFR1M + 4.100%	8.4090	11/02/27		731,732
	7,052,456	WestJet Loyalty, L.P.(b)	TSFR1M + 3.850%	7.5790	02/01/31		6,807,382
	262,000	Win Waste Innovations Holdings, Inc.(b)	TSFR1M + 3.750%	8.1790	03/27/28		260,690
							39,888,928
		CONSTRUCTION MATERIALS — 0.7%
	4,670,579	Quikrete Holdings, Inc.(b)	TSFR1M + 2.250%	6.5600	04/14/31		4,625,181
		CONSUMER SERVICES — 2.2%
	1,945,348	Fugue Finance, LLC(b)	TSFR1M + 3.250%	7.4960	12/05/31		1,946,107
	3,222,566	KUEHG Corporation(b)	TSFR1M + 3.250%	7.5370	06/12/30		3,220,052
	3,491,250	Lernen US Finco, LLC(b)	TSFR1M + 4.000%	8.4720	10/01/31		3,493,449
	1,561,808	Prometric Holdings, Inc.(b)	TSFR1M + 4.750%	9.2210	01/31/28		1,571,960
	869,807	Spin Holdco, Inc.(b)	TSFR3M + 4.000%	8.5620	03/01/28		738,796
	4,000,000	University Support Services, LLC(b)	TSFR1M + 3.350%	7.1070	06/29/28		3,973,740
							14,944,104
		CONSUMER PRODUCTS — 0.2%
	1,522,000	Opal, LLC(b)	TSFR1M + 3.250%	7.5370	03/31/32		1,514,390

CATALYST/CIFC SENIOR SECURED INCOME FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

March 31, 2025

Principal Amount ($)			Spread	Coupon Rate (%)	Maturity	Fair Value
		TERM LOANS — 85.4% (Continued)
		CONTAINERS & PACKAGING — 1.3%
	6,400,000	Charter Next Generation, Inc.(b)	TSFR1M + 3.000%	7.3260	10/29/31	$	6,398,720
	1,079,134	Clydesdale Acquisition Holdings, Inc.(b)	TSFR1M + 3.250%	7.5710	03/29/32		1,074,413
	18,866	Clydesdale Acquisition Holdings, Inc.(b)	TSFR1M + 3.250%	7.5710	03/29/32		18,783
	1,138,522	Proampac PG Borrower, LLC(b)	TSFR1M + 4.000%	8.3120	09/15/28		1,133,780
							8,625,696
		ELECTRIC UTILITIES — 0.5%
	3,158,136	Edgewater Generation, LLC(b)	TSFR1M + 3.250%	7.3220	08/01/30		3,160,946
		ELECTRICAL EQUIPMENT — 0.2%
	1,276,161	Lsf12 Crown US Commercial Bidco, LLC(b)	TSFR1M + 4.250%	8.5870	10/11/31		1,255,953
		ENGINEERING & CONSTRUCTION — 0.2%
	1,271,289	Chromalloy Corporation(b)	TSFR1M + 3.750%	8.0610	03/24/31		1,268,911
		ENTERTAINMENT CONTENT — 0.0%(c)
	282,856	AP Core Holdings II, LLC(b)	TSFR1M + 5.500%	9.9710	09/01/27		256,378
		FOOD — 0.3%
	2,244,203	Nomad Foods US, LLC(b)	TSFR1M + 3.000%	6.9680	11/08/29		2,242,329
		HEALTH CARE FACILITIES & SERVICES — 6.0%
	246,164	ADMI Corporation(b)	TSFR1M + 3.375%	7.8460	12/23/27		243,948
	4,615,869	Bella Holding Company, LLC(b)	TSFR1M + 3.250%	7.5490	05/10/28		4,612,338
	187,757	Hanger, Inc.(b)	TSFR1M + 1.000%	4.7850	10/16/31		187,854
	1,458,243	Hanger, Inc.(b)	TSFR1M + 3.500%	7.8570	10/16/31		1,459,002
	5,162,305	Heartland Dental, LLC(b)	TSFR1M + 4.500%	8.8570	04/28/28		5,162,873
	7,295,473	LifePoint Health, Inc.(b)	TSFR1M + 3.750%	8.0520	05/14/31		7,091,785
	1,985,025	LifePoint Health, Inc.(b)	TSFR1M + 3.500%	7.8170	05/19/31		1,915,906
	4,042,020	MED ParentCo, L.P.(b)	TSFR1M + 3.500%	7.8570	04/15/31		4,041,191
	161,491	National Mentor Holdings, Inc.(b)	TSFR1M + 3.750%	8.1790	02/18/28		156,864
	5,602,261	National Mentor Holdings, Inc.(b)	TSFR1M + 3.750%	8.1930	02/18/28		5,441,728
	715,897	National Mentor Holdings, Inc.(b)	TSFR3M + 7.250%	11.6790	02/18/29		687,408
	877,946	Outcomes Group Holdings, Inc.(b)	TSFR1M + 3.750%	8.0690	05/06/31		878,782
	2,499,495	Phoenix Newco, Inc.(b)	TSFR1M + 2.500%	6.8260	11/15/28		2,496,845
	3,400,278	Southern Veterinary Partners, LLC(b)	TSFR1M + 3.250%	7.5750	10/30/31		3,394,820

CATALYST/CIFC SENIOR SECURED INCOME FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

March 31, 2025

Principal Amount ($)			Spread	Coupon Rate (%)	Maturity	Fair Value
		TERM LOANS — 85.4% (Continued)
		HEALTH CARE FACILITIES & SERVICES — 6.0% (Continued)
	3,676,010	Star Parent, Inc.(b)	TSFR1M + 4.000%	8.3290	09/19/30	$	3,519,780
							41,291,124
		HOME & OFFICE PRODUCTS — 2.4%
	7,603,929	AI Aqua Merger Sub, Inc.(b)	TSFR1M + 3.000%	7.3370	07/31/28		7,543,668
	8,659,959	Weber-Stephen Products, LLC(b)	TSFR1M + 3.250%	7.7210	10/20/27		8,407,348
	670,603	Weber-Stephen Products, LLC(b)	TSFR1M + 4.350%	8.7070	10/29/27		655,179
							16,606,195
		HOME CONSTRUCTION — 0.3%
	2,000,000	Chariot Buyer, LLC(b)	TSFR1M + 3.350%	7.6740	10/22/28		1,983,800
		HOUSEHOLD PRODUCTS — 0.2%
	1,193,830	Conair Holdings, LLC(b)	TSFR1M + 3.865%	8.2210	05/13/28		1,036,925
		INDUSTRIAL INTERMEDIATE PROD — 0.5%
	3,694,305	Tiger Acquisition, LLC(b)	TSFR1M + 3.000%	7.1570	06/01/28		3,687,378
		INSTITUTIONAL FINANCIAL SERVICES — 4.4%
	7,364,412	Aretec Group, Inc.(b)	TSFR1M + 3.500%	7.8570	08/09/30		7,313,414
	608,136	Armor Holdco, Inc.(b)	TSFR1M + 3.750%	8.0650	12/11/28		607,567
	4,175,144	Armor Holdco, Inc.(b)	TSFR6M + 3.750%	8.0650	12/11/28		4,171,240
	8,693,615	Ascensus Holdings, Inc.(b)	TSFR1M + 3.000%	7.3570	08/02/28		8,652,842
	3,015,407	Deerfield Dakota Holding, LLC(b)	SOFRRATE + 3.750%	8.0790	03/06/27		2,868,723
	3,789,556	Hudson River Trading, LLC(b)	TSFR1M + 3.000%	7.2970	03/20/30		3,788,211
	2,170,733	Jane Street Group, LLC(b)	TSFR1M + 2.000%	6.3130	12/11/31		2,147,669
	237,000	Summit Acquisition, Inc.(b)	TSFR1M + 3.750%	8.0790	10/10/31		237,296
							29,786,962
		INSURANCE — 8.8%
	5,831,419	Acrisure, LLC(b)	TSFR1M + 2.750%	7.1060	02/16/27		5,823,109
	4,044,905	Acrisure, LLC(b)	TSFR1M + 3.000%	7.3560	11/06/30		4,026,845
	3,816,207	Alliant Holdings Intermediate, LLC(b)	TSFR1M + 3.000%	7.1060	09/12/31		3,797,126
	1,365,503	AmWINS Group, Inc.(b)	TSFR1M + 2.250%	6.5560	01/23/32		1,356,224
	730,000	Ardonagh Group Finco Pty Ltd.(b)	TSFR1M + 3.750%	7.0550	02/28/31		721,788
	4,378,171	AssuredPartners, Inc.(b)	TSFR1M + 3.500%	7.8570	02/10/31		4,388,241

CATALYST/CIFC SENIOR SECURED INCOME FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

March 31, 2025

Principal Amount ($)			Spread	Coupon Rate (%)	Maturity	Fair Value
		TERM LOANS — 85.4% (Continued)
		INSURANCE — 8.8% (Continued)
	1,161,738	Asurion, LLC(b)	TSFR1M + 3.250%	7.7210	12/18/26	$	1,160,786
	2,411,000	Asurion, LLC(b)	TSFR1M + 5.250%	9.7210	01/29/28		2,290,450
	826,005	Asurion, LLC(b)	TSFR1M + 4.000%	8.4570	08/17/28		818,720
	900,000	Asurion, LLC(b)	TSFR1M + 5.250%	9.7210	01/14/29		836,861
	745,255	Baldwin Insurance Group Holdings, LLC (The)(b)	TSFR1M + 3.100%	7.2970	05/27/31		744,092
	9,858,736	BroadStreet Partners, Inc.(b)	TSFR1M + 3.250%	7.3570	05/12/31		9,785,682
	2,227,177	Howden Group Holdings Ltd.(b)	TSFR1M + 3.500%	7.8570	04/18/30		2,229,259
	3,186,240	Hyperion Refinance Sarl(b)	TSFR1M + 3.000%	7.3570	02/18/31		3,167,951
	7,044,436	IMA Financial Group, Inc. (The)(b)	TSFR1M + 3.850%	7.3660	11/01/28		7,015,835
	2,309,395	OneDigital Borrower, LLC(b)	TSFR1M + 3.000%	7.2990	07/02/31		2,297,409
	1,507,984	OneDigital Borrower, LLC(b)	TSFR1M + 5.250%	9.6070	06/14/32		1,509,869
	4,851,781	Sedgwick Claims Management Services, Inc.(b)	TSFR1M + 3.750%	7.3130	02/17/28		4,841,543
	1,225,049	TIH Insurance Holdings, LLC(b)	TSFR3M + 2.750%	7.0790	05/06/31		1,218,923
	1,683,895	USI, Inc.(b)	TSFR1M + 2.250%	6.6060	11/23/29		1,669,953
							59,700,666
		INTERNET MEDIA & SERVICES — 2.0%
	885,767	Endurance International Group Holdings, Inc.(b)	TSFR1M + 3.500%	7.9400	02/10/28		600,426
	1,033,834	Knot Worldwide, Inc. (The)(b)	TSFR1M + 3.750%	8.1070	01/31/28		1,035,126
	1,377,233	MH Sub I, LLC(b)	TSFR1M + 4.250%	8.6070	05/03/28		1,311,821
	1,487,697	MH Sub I, LLC(b)	TSFR1M + 6.250%	10.6070	02/23/29		1,391,257
	1,624,508	MH Sub I, LLC(b)	TSFR1M + 4.250%	8.5740	12/11/31		1,496,806
	6,500,000	Pug, LLC(b)	TSFR1M + 4.750%	9.1070	03/12/30		6,483,751
	1,502,551	Speedster Bidco GmbH(b)	TSFR1M + 3.500%	7.9040	10/17/31		1,502,318
							13,821,505
		LEISURE FACILITIES & SERVICES — 2.8%
	4,387,478	ClubCorp Holdings, Inc.(b)	TSFR3M + 5.000%	9.4600	09/18/26		4,400,728
	3,931,533	IRB Holding Corporation(b)	TSFR1M + 2.500%	6.8570	12/15/27		3,911,384
	3,852,904	Ontario Gaming GTA, L.P.(b)	TSFR1M + 4.250%	8.5790	07/20/30		3,800,890
	1,175,000	Whatabrands, LLC(b)	TSFR1M + 2.500%	6.7990	08/03/28		1,171,375
	5,440,093	William Morris Endeavor Entertainment, LLC(b)	TSFR3M + 2.750%	7.1630	05/19/25		5,436,721
							18,721,098
		MACHINERY — 0.7%
	3,065,003	Madison IAQ, LLC(b)	TSFR1M + 3.250%	6.7620	06/16/28		3,034,920
	605,000	Madison IAQ, LLC(b)	TSFR1M + 3.250%	7.5690	03/29/32		600,084

CATALYST/CIFC SENIOR SECURED INCOME FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

March 31, 2025

Principal Amount ($)			Spread	Coupon Rate (%)	Maturity	Fair Value
		TERM LOANS — 85.4% (Continued)
		MACHINERY — 0.7% (Continued)
	995,000	Titan Acquisition Ltd.(b)	TSFR1M + 5.000%	8.7850	02/01/29	$	991,995
							4,626,999
		MEDICAL EQUIPMENT & DEVICES — 0.9%
	4,918,355	Bausch + Lomb Corporation(b)	SOFRRATE + 3.250%	7.6890	05/05/27		4,907,239
	898,385	Bausch + Lomb Corporation(b)	TSFR1M + 4.000%	8.3290	09/14/28		897,267
	233,000	Performance Health Holdings, Inc.(b)	TSFR1M + 3.750%	8.0620	02/27/32		231,835
							6,036,341
		OIL & GAS PRODUCERS — 1.8%
	1,313,222	EG America, LLC(b)	TSFR3M + 4.250%	8.5630	02/07/28		1,315,454
	3,800,000	EPIC Crude Services, L.P.(b)	TSFR1M + 3.000%	7.3020	10/09/31		3,803,381
	1,502,911	Prairie Acquiror, L.P.(b)	TSFR1M + 4.250%	8.6160	08/01/29		1,506,436
	2,517,500	RelaDyne, Inc.(b)	SOFRRATE + 4.250%	8.3240	12/23/28		2,518,155
	3,177,859	Rockpoint Gas Storage Partners, L.P.(b)	TSFR3M + 3.000%	7.3190	09/18/31		3,173,886
							12,317,312
		PUBLISHING & BROADCASTING — 1.5%
	6,434,114	Cengage Learning, Inc.(b)	TSFR6M + 3.500%	7.8260	03/24/31		6,390,812
	3,898,037	McGraw-Hill Education, Inc.(b)	TSFR3M + 3.250%	7.5390	08/06/31		3,896,654
							10,287,466
		RENEWABLE ENERGY — 1.3%
	8,882,589	Granite Acquisition, Inc.(b)	TSFR1M + 2.865%	7.2210	03/17/28		8,718,084
		RETAIL - DISCRETIONARY — 2.3%
	997,487	Foundation Building Materials, Inc.(b)	TSFR1M + 4.000%	8.4760	01/27/31		912,910
	3,669,628	Great Outdoors Group, LLC(b)	TSFR1M + 3.250%	7.5750	01/16/32		3,666,417
	1,022,712	Harbor Freight Tools USA, Inc.(b)	TSFR1M + 2.500%	6.8240	06/05/31		999,005
	182,961	Hertz Corporation (The)(b)	TSFR1M + 3.250%	7.9710	06/14/28		141,926
	35,732	Hertz Corporation (The)(b)	TSFR1M + 3.250%	7.9710	06/14/28		27,718
	779,292	Hertz Corporation (The)(b)	TSFR1M + 3.865%	8.0890	06/30/28		603,561
	163,583	LBM Acquisition, LLC(b)	TSFR1M + 3.850%	8.2070	12/08/27		160,404
	1,350,469	LBM Acquisition, LLC(b)	TSFR1M + 3.750%	8.1520	05/30/31		1,250,535
	5,319,841	Mavis Tire Express Services Topco Corporation(b)	TSFR1M + 3.000%	7.3120	05/04/28		5,292,603
	2,500,000	PetSmart, Inc.(b)	TSFR1M + 3.750%	8.1740	01/29/28		2,466,138
							15,521,217

CATALYST/CIFC SENIOR SECURED INCOME FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

March 31, 2025

Principal Amount ($)			Spread	Coupon Rate (%)	Maturity	Fair Value
		TERM LOANS — 85.4% (Continued)
		SEMICONDUCTORS — 0.2%
	1,025,000	Icon Parent, Inc.(b)	TSFR1M + 5.000%	9.3150	09/13/32	$	1,027,988
		SOFTWARE — 17.5%
	3,519,255	athenahealth, Inc.(b)	SOFRRATE + 3.500%	7.3240	01/27/29		3,484,062
	1,837,577	Avalara, Inc.(b)	TSFR1M + 3.250%	7.5750	03/29/32		1,832,698
	4,887,527	Azalea Topco, Inc.(b)	TSFR1M + 3.250%	7.6070	04/30/31		4,866,657
	8,360,579	BMC Software, Inc.(b)	TSFR3M + 3.000%	7.3120	07/30/31		8,226,894
	1,121,494	Boxer Parent Company, Inc.(b)	TSFR1M + 5.750%	10.0410	07/06/32		1,085,045
	2,200,000	Bracket Intermediate Holding Corporation(b)	TSFR3M + 4.250%	8.5790	05/08/28		2,211,198
	5,371,933	Central Parent, Inc.(b)	TSFR1M + 3.250%	7.5790	07/06/29		4,626,577
	5,193,776	Cloud Software Group, Inc.(b)	TSFR1M + 3.500%	7.8290	03/29/29		5,152,459
	2,083,778	Cloud Software Group, Inc.(b)	TSFR1M + 3.750%	8.0790	03/24/31		2,066,295
	3,594,829	Clover Holdings 2, LLC(b)	TSFR1M + 4.000%	8.2950	11/03/31		3,561,127
	5,304,697	ConnectWise, LLC(b)	TSFR3M + 3.762%	8.0900	09/24/28		5,306,925
	6,735,631	Cotiviti, Inc.(b)	TSFR1M + 3.250%	7.0870	02/24/31		6,600,919
	1,498,000	Cotiviti, Inc.(b)	TSFR1M + 2.750%	7.0580	02/17/32		1,466,168
	817,950	DS Admiral Bidco, LLC(b)	TSFR1M + 4.250%	8.6070	06/05/31		790,344
	4,959,670	Envestnet, Inc.(b)	TSFR1M + 3.500%	7.7910	09/19/31		4,950,370
	6,241,246	Flexera Software, LLC(b)	TSFR1M + 3.000%	7.2990	03/03/28		6,216,874
	2,822,009	Idera, Inc.(b)	TSFR1M + 3.500%	7.7910	03/02/28		2,623,142
	1,150,135	Imprivata, Inc.(b)	TSFR1M + 3.500%	7.7910	12/01/27		1,152,131
	2,599,785	Isolved, Inc.(b)	TSFR1M + 3.250%	7.6070	10/15/30		2,606,323
	615,000	Jaggaer, LLC(b)	TSFR1M + 5.250%	9.5630	10/08/32		612,119
	4,067,079	McAfee Corporation(b)	TSFR1M + 3.000%	7.3700	03/01/29		3,892,195
	3,942,849	Mitchell International, Inc.(b)	TSFR1M + 3.250%	7.6070	06/06/31		3,901,528
	1,680,555	Mitchell International, Inc.(b)	TSFR1M + 5.250%	9.5740	06/07/32		1,640,642
	2,225,860	Modena Buyer, LLC(b)	TSFR1M + 4.500%	8.7910	04/21/31		2,160,242
	2,679,668	PointClickCare Technologies, Inc.(b)	TSFR1M + 3.250%	7.5790	10/11/31		2,676,332
	3,135,216	Project Alpha Intermediate Holding, Inc.(b)	TSFR1M + 3.250%	7.5790	10/28/30		3,131,940
	287,000	Project Alpha Intermediate Holding, Inc.(b)	TSFR1M + 3.250%	7.8720	10/28/30		286,700
	100,000	Project Boost Purchaser, LLC(b)	TSFR1M + 5.250%	9.5570	07/02/32		100,250
	1,235,398	Project Sky Merger Sub, Inc.(b)	TSFR1M + 6.000%	10.4570	08/10/29		1,180,324
	5,785,000	Proofpoint, Inc.(b)	TSFR1M + 3.000%	7.3240	08/31/28		5,773,256

CATALYST/CIFC SENIOR SECURED INCOME FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

March 31, 2025

Principal Amount ($)			Spread	Coupon Rate (%)	Maturity	Fair Value
		TERM LOANS — 85.4% (Continued)
		SOFTWARE — 17.5% (Continued)
	1,407,152	RealPage, Inc.(b)	TSFR1M + 3.250%	7.5900	02/18/28	$	1,390,358
	1,751,465	RealPage, Inc.(b)	TSFR1M + 3.750%	8.0790	04/24/28		1,754,749
	4,775,000	Rocket Software, Inc.(b)	TSFR1M + 4.750%	8.6070	11/28/28		4,769,055
	2,257,547	SolarWinds Holdings, Inc.(b)	TSFR1M + 2.750%	7.1070	02/05/30		2,260,380
	1,513,000	Starlight Parent, LLC(b)	TSFR1M + 4.000%	8.3230	03/15/32		1,471,400
	2,090,540	Storable, Inc.(b)	TSFR1M + 3.250%	7.5740	04/17/31		2,080,746
	2,768,342	Thunder Generation Funding, LLC(b)	TSFR1M + 3.000%	7.3290	09/29/31		2,771,373
	2,221,365	Zelis Payments Buyer, Inc.(b)	TSFR1M + 2.750%	7.1070	09/28/29		2,210,258
	3,939,736	Zelis Payments Buyer, Inc.(b)	TSFR1M + 3.250%	7.6070	10/27/31		3,934,811
	1,375,624	Zuora, Inc.(b)	TSFR1M + 3.500%	7.8150	12/15/31		1,360,149
							118,185,015
		SPECIALTY FINANCE — 0.8%
	2,522,000	Apex Group Treasury, LLC(b)	TSFR1M + 3.500%	7.8150	02/20/32		2,517,284
	500,000	Dechra Finance US, LLC(b)	TSFR1M + 3.250%	7.5130	12/03/31		499,610
	2,336,211	Kestra Advisor Services Holdings A, Inc.(b)	TSFR1M + 3.000%	7.2910	03/24/31		2,318,141
							5,335,035
		TECHNOLOGY HARDWARE — 0.2%
	1,076,772	Pitney Bowes, Inc.(b)	TSFR1M + 3.750%	8.0520	02/02/32		1,067,797
		TECHNOLOGY SERVICES — 3.0%
	4,494,421	Access CIG, LLC(b)	TSFR1M + 5.000%	8.5410	08/15/28		4,501,298
	2,265,768	Blackhawk Network Holdings, Inc.(b)	TSFR1M + 4.000%	8.3000	03/12/29		2,259,696
	1,000,000	Dun & Bradstreet Corporation (The)(b)	TSFR1M + 2.250%	6.5490	01/18/29		998,750
	3,243,156	Fortress Intermediate 3, Inc.(b)	TSFR1M + 3.750%	8.0740	05/09/31		3,241,145
	1,760,508	ION Trading Technologies Sarl(b)	TSFR3M + 3.500%	7.9270	04/03/28		1,747,859
	2,983,646	Kaseya, Inc.(b)	TSFR1M + 3.250%	7.5720	03/08/32		2,978,066
	4,000,000	Neon Maple US Debt Mergersub, Inc.(b)	TSFR1M + 3.000%	7.3240	07/21/31		3,978,880
	825,907	Peraton Corporation(b)	TSFR1M + 3.750%	8.2070	02/24/28		736,928
	128,919	Peraton Corporation(b)	TSFR3M + 7.750%	12.1790	02/01/29		97,898
							20,540,520
		TELECOMMUNICATIONS — 0.8%
	3,060,047	CCI Buyer, Inc.(b)	SOFRRATE + 4.000%	8.3290	12/12/27		3,065,570
	2,151,993	QualityTech, L.P.(b)	TSFR1M + 3.500%	7.8260	11/04/31		2,157,373
						$	5,222,943

CATALYST/CIFC SENIOR SECURED INCOME FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

March 31, 2025

Principal Amount ($)			Spread	Coupon Rate (%)	Maturity	Fair Value
		TERM LOANS — 85.4% (Continued)
		TRANSPORTATION & LOGISTICS — 2.5%
	1,922,926	AAdvantage Loyalty IP Ltd.(b)	TSFR3M + 2.250%	6.5790	04/20/28	$	1,903,245
	6,728,052	JetBlue Airways Corporation(b)	TSFR1M + 5.500%	9.0550	08/13/29		6,535,831
	1,881,137	Kenan Advantage Group, Inc. (The)(b)	TSFR1M + 3.250%	7.6070	01/25/29		1,876,039
	5,637,500	Savage Enterprises, LLC(b)	TSFR1M + 2.750%	7.0870	09/18/28		5,633,977
	1,000,000	Swissport Stratosphere Usa, LLC(b)	TSFR1M + 3.750%	8.0440	04/18/31		1,004,065
							16,953,157
		WHOLESALE - CONSUMER STAPLES — 0.8%
	5,423,291	Golden State Foods Corporation(b)	TSFR1M + 4.250%	8.5760	10/07/31		5,447,588
		TOTAL TERM LOANS (Cost $584,050,372)					579,003,161
Shares
		SHORT-TERM INVESTMENTS — 6.1%
		MONEY MARKET FUNDS - 6.1%
	41,608,798	First American Treasury Obligations Fund, Class X, 4.25% (Cost $41,608,798)(d)					41,608,798
		TOTAL INVESTMENTS - 106.0% (Cost $724,994,735)				$	719,250,462
		LIABILITIES IN EXCESS OF OTHER ASSETS - (6.0)%					(40,761,185	)
		NET ASSETS - 100.0%				$	678,489,277

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 is 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 March 31, 2025 the total market value of 144A securities is 66,269,007 or 9.8% of net assets.
(b)	Variable or floating rate security, the interest rate of which adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets.
(c)	Percentage rounds to less than 0.1%.
(d)	Rate disclosed is the seven-day effective yield as of March 31, 2025.

CATALYST/SMH HIGH INCOME FUND

SCHEDULE OF INVESTMENTS (Unaudited)

March 31, 2025

Shares			Coupon Rate (%)	Maturity	Fair Value
		PREFERRED STOCKS — 0.2%
		LEISURE FACILITIES & SERVICES — 0.2%
	4,371	FAT Brands, Inc.(a)	8.2500		$	35,055
		TOTAL PREFERRED STOCKS (Cost $102,762)
Principal Amount ($)
		CONVERTIBLE BONDS — 22.4%
		ASSET MANAGEMENT — 9.3%
	887,000	Capital Southwest Corporation	5.1250	11/15/29		865,379
	500,000	WisdomTree, Inc.	5.7500	08/15/28		581,250
						1,446,629
		SPECIALTY FINANCE — 3.8%
	400,000	EZCORP, Inc.(b)	3.7500	12/15/29		591,400
		TECHNOLOGY SERVICES — 7.6%
	550,000	Cleanspark, Inc.(b),(c)	0.0000	06/15/30		399,061
	500,000	MARA Holdings, Inc.(b),(c)	0.0000	06/01/31		359,000
	550,000	Riot Platforms, Inc.(b)	0.7500	01/15/30		426,728
						1,184,789
		TELECOMMUNICATIONS — 1.7%
	300,000	Applied Digital Corporation(b)	2.7500	06/01/30		261,750
		TOTAL CONVERTIBLE BONDS (Cost $3,788,007)				3,484,568
		CORPORATE BONDS — 64.8%
		ASSET MANAGEMENT — 2.1%
	350,000	Icahn Enterprises, L.P. / Icahn Enterprises Finance Corporation	5.2500	05/15/27		333,150
		CONSUMER SERVICES — 1.8%
	300,000	Upbound Group, Inc.(b)	6.3750	02/15/29		284,040

CATALYST/SMH HIGH INCOME FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

March 31, 2025

Principal Amount ($)			Coupon Rate (%)	Maturity	Fair Value
		CORPORATE BONDS — 64.8% (Continued)
		ENGINEERING & CONSTRUCTION — 1.0%
	145,000	Tutor Perini Corporation(b)	11.8750	04/30/29	$	159,778
		ENTERTAINMENT CONTENT — 3.2%
	478,000	AMC Networks, Inc.(b)	10.2500	01/15/29		495,420
		FORESTRY, PAPER & WOOD PRODUCTS — 1.9%
	350,000	Mercer International, Inc.	5.1250	02/01/29		300,366
		HOUSEHOLD PRODUCTS — 0.9%
	150,000	Central Garden & Pet Company	4.1250	10/15/30		136,839
		LEISURE FACILITIES & SERVICES — 6.9%
	500,000	Full House Resorts, Inc.(b)	8.2500	02/15/28		494,618
	550,000	Odeon Finco PLC(b)	12.7500	11/01/27		575,561
						1,070,179
		METALS & MINING — 7.3%
	865,000	Coeur Mining, Inc.(b)	5.1250	02/15/29		824,662
	300,000	Hecla Mining Company	7.2500	02/15/28		302,823
						1,127,485
		OIL & GAS PRODUCERS — 1.1%
	175,000	Occidental Petroleum Corporation	6.6000	03/15/46		176,412
		OIL & GAS SERVICES & EQUIPMENT — 3.4%
	200,000	Nine Energy Service, Inc.	13.0000	02/01/28		132,884
	517,000	Transocean, Inc.	6.8000	03/15/38		394,805
						527,689
		PUBLISHING & BROADCASTING — 1.7%
	250,000	Gray Media, Inc.(b)	10.5000	07/15/29		259,233
		REAL ESTATE INVESTMENT TRUSTS — 11.1%
	1,000,000	MPT Operating Partnership, L.P. / MPT Finance Corporation	5.0000	10/15/27		904,557
	1,000,000	Office Properties Income Trust(b)	9.0000	09/30/29		815,940
						1,720,497

CATALYST/SMH HIGH INCOME FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

March 31, 2025

Principal Amount ($)			Coupon Rate (%)	Maturity	Fair Value
		CORPORATE BONDS — 64.8% (Continued)
		RETAIL - DISCRETIONARY — 14.9%
	1,065,000	Bed Bath & Beyond, Inc.(d)	5.1650	08/01/44	$	44,667
	457,960	Carvana Company(b)	14.0000	06/01/31		509,320
	500,000	Hertz Corporation (The)(b)	12.6250	07/15/29		451,407
	1,283,000	Kohl’s Corporation	5.5500	07/17/45		703,883
	825,000	Nordstrom, Inc.	5.0000	01/15/44		608,318
						2,317,595
		SPECIALTY FINANCE — 3.4%
	500,000	Enova International, Inc.(b)	9.1250	08/01/29		515,790
		STEEL — 4.1%
	653,000	United States Steel Corporation	6.6500	06/01/37		642,287
		TECHNOLOGY HARDWARE — 0.0%
	8,669,000	Energy Conversion Devices, Inc.(b)(d)(e)(f)	0.0000	12/15/49		—
		TOTAL CORPORATE BONDS (Cost $13,890,293)				10,066,760
Shares
		SHORT-TERM INVESTMENTS — 11.4%
		COLLATERAL FOR SECURITIES LOANED — 0.0%
	925	Mount Vernon Liquid Assets Portfolio, 4.42% (Cost $925) (g)(h)				925
		MONEY MARKET FUNDS - 11.4%
	1,776,354	First American Treasury Obligations Fund, Class X, 4.25% (Cost $1,776,354)(h)				1,776,354
		TOTAL SHORT-TERM INVESTMENTS (Cost $1,777,279)				1,777,279
		TOTAL INVESTMENTS - 98.8% (Cost $19,558,341)			$	15,363,662
		OTHER ASSETS IN EXCESS OF LIABILITIES- 1.2%				188,715
		NET ASSETS - 100.0%			$	15,552,377

L.P.	- Limited Partnership
PLC	- Public Limited Company

(a)	All or a portion of the security is on loan. The total fair value of the securities on loan as of March 31, 2025 was $802.
(b)	Security is 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 March 31, 2025 the total market value of 144A securities is 7,423,708 or 47.7% of net assets.
(c)	Zero coupon bond.
(d)	Represents issuer in default on interest payments; non-income producing security.
(e)	The value of this security has been determined by using significant unobservable inputs in good faith under the policies of the Board of Trustees. The total of these securities is $0 or 0.0% of net assets.
(f)	Illiquid security. The total fair value of these securities as of March 31, 2025 was $0, representing 0.0% of net assets.
(g)	Security was purchased with cash received as collateral for securities loaned at March 31, 2025. Total collateral had a value of $925 at March 31, 2025.
(h)	Rate disclosed is the seven-day effective yield as of March 31, 2025.

CATALYST/SMH TOTAL RETURN INCOME FUND

SCHEDULE OF INVESTMENTS (Unaudited)

March 31, 2025

Shares			Fair Value
		COMMON STOCKS — 48.3%
		ASSET MANAGEMENT - 25.6%
	20,000	Capital Southwest Corporation(a)	$	446,400
	11,000	Carlyle Group, Inc. (The)(a)		479,490
	45,292	Compass Diversified Holdings		845,602
	7,947	HA Sustainable Infrastructure Capital, Inc.(a)		232,370
	12,128	Main Street Capital Corporation(a)		685,960
	68,210	PennantPark Investment Corporation(a)		479,516
	95,140	Prospect Capital Corporation(a)		390,074
	42,466	SuRo Capital Corporation(b)		211,056
	70,337	Trinity Capital, Inc.(a)		1,066,309
	49,500	US Global Investors, Inc., Class A		111,870
				4,948,647
		AUTOMOTIVE - 0.3%
	6,200	Ford Motor Company(a)		62,186
		ELECTRIC UTILITIES - 0.6%
	1,442	NextEra Energy, Inc.(a)		102,223
		OIL & GAS PRODUCERS - 5.9%
	18,298	Civitas Resources, Inc.(a)		638,417
	10,028	Enbridge, Inc.		444,341
				1,082,758
		REAL ESTATE INVESTMENT TRUSTS - 9.4%
	2,390	Innovative Industrial Properties, Inc.		129,275
	31,109	NexPoint Diversified Real Estate Trust		119,147
	5,000	Realty Income Corporation(a)		290,050
	29,475	VICI Properties, Inc.(a)		961,475
				1,499,947
		SPECIALTY FINANCE - 2.8%
	26,000	Advanced Flower Capital, Inc.(a)		144,820
	24,106	New Residential Investment Corporation		276,013
	8,666	Sunrise Realty Trust, Inc.		95,933
				516,766
		TELECOMMUNICATIONS - 3.7%
	16,602	AT&T, Inc.		469,505

CATALYST/SMH TOTAL RETURN INCOME FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

March 31, 2025

Shares					Fair Value
		COMMON STOCKS — 48.3% (Continued)
		TELECOMMUNICATIONS - 3.7% (Continued)
	4,561	Verizon Communications, Inc.			$	206,887
						676,392
		TOTAL COMMON STOCKS (Cost $11,150,269)				8,888,919
		EXCHANGE-TRADED FUNDS — 3.8%
		FIXED INCOME - 3.8%
	30,000	SPDR Portfolio High Yield Bond ETF				702,600
		TOTAL EXCHANGE-TRADED FUNDS (Cost $713,700)
Principal Amount ($)			Coupon Rate (%)	Maturity
		CONVERTIBLE BONDS — 16.4%
		ASSET MANAGEMENT — 5.4%
	500,000	Capital Southwest Corporation	5.1250	11/15/29		487,812
	435,000	WisdomTree, Inc.	5.7500	08/15/28		505,687
						993,499
		SPECIALTY FINANCE — 5.1%
	717,000	EZCORP, Inc.	2.3750	05/01/25		717,359
	150,000	EZCORP, Inc.(c)	3.7500	12/15/29		221,775
						939,134
		TECHNOLOGY SERVICES — 4.5%
	550,000	Cleanspark, Inc.(c),(d)	0.0000	06/15/30		399,061
	550,000	Riot Platforms, Inc.(c)	0.7500	01/15/30		426,728
						825,789
		TELECOMMUNICATIONS — 1.4%
	300,000	Applied Digital Corporation(c)	2.7500	06/01/30		261,750
		TOTAL CONVERTIBLE BONDS (Cost $3,327,331)				3,020,172

CATALYST/SMH TOTAL RETURN INCOME FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

March 31, 2025

Principal Amount ($)			Coupon Rate (%)	Maturity	Fair Value
		CORPORATE BONDS — 27.6% (Continued)
		LEISURE FACILITIES & SERVICES — 5.6%
	500,000	Full House Resorts, Inc.(c)	8.2500	02/15/28	$	494,618
	515,000	Odeon Finco PLC(c)	12.7500	11/01/27		538,934
						1,033,552
		OIL & GAS SERVICES & EQUIPMENT — 4.9%
	250,000	Nine Energy Service, Inc.	13.0000	02/01/28		166,105
	953,000	Transocean, Inc.	6.8000	03/15/38		727,755
						893,860
		REAL ESTATE INVESTMENT TRUSTS — 10.3%
	1,112,000	MPT Operating Partnership, L.P. / MPT Finance Corporation	5.0000	10/15/27		1,005,868
	1,096,000	Office Properties Income Trust(c)	9.0000	09/30/29		894,270
						1,900,138
		RETAIL - DISCRETIONARY — 6.8%
	373,000	Bed Bath & Beyond, Inc.(e)	5.1650	08/01/44		15,644
	457,960	Carvana Company(c)	14.0000	06/01/31		509,321
	500,000	Hertz Corporation (The)(c)	12.6250	07/15/29		451,407
	528,000	Kohl’s Corporation	5.5500	07/17/45		289,672
						1,266,044
		TECHNOLOGY HARDWARE — 0%
	5,543,000	Energy Conversion Devices, Inc. (c)(e)(f)(g)	0.0000	12/15/49		—
		TOTAL CORPORATE BONDS (Cost $7,205,776)				5,093,594
Shares
		SHORT-TERM INVESTMENTS — 31.4%
		COLLATERAL FOR SECURITIES LOANED - 28.6%
	5,269,009	Mount Vernon Liquid Assets Portfolio, , 4.42% (Cost $5,269,009)(h),(i)				5,269,009
		MONEY MARKET FUNDS - 2.8%
	520,702	First American Treasury Obligations Fund, Class X, 4.25% (Cost $520,702)(h)				520,702
		TOTAL SHORT-TERM INVESTMENTS (Cost $5,789,711)				5,789,711

CATALYST/SMH TOTAL RETURN INCOME FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

March 31, 2025

	Fair Value
TOTAL INVESTMENTS - 127.5% (Cost $28,186,787)	$	23,494,996
LIABILITIES IN EXCESS OF OTHER ASSETS - (27.5)%		(5,070,716	)
NET ASSETS - 100.0%	$	18,424,280

ETF	- Exchange-Traded Fund
L.P.	- Limited Partnership
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 March 31, 2025 was $5,102,024.
(b)	Non-income producing security.
(c)	Security is 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 March 31, 2025 the total market value of 144A securities is 4,197,864 or 22.8% 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 March 31, 2025 was $0, representing 0% of net assets.
(g)	The value of this security has been determined by 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 March 31, 2025. Total collateral had a value of $5,269,009 at March 31, 2025.
(i)	Rate disclosed is the seven-day effective yield as of March 31, 2025.

CATALYST BUFFERED SHIELD FUND

SCHEDULE OF INVESTMENTS (Unaudited)

March 31, 2025

Shares									Fair Value
		EXCHANGE-TRADED FUNDS — 93.6%
		FIXED INCOME - 93.6%
	106,764	iShares 1-5 Year Investment Grade Corporate Bond(a)							$	5,591,231
	119,165	PGIM Ultra Short Bond ETF(a)								5,926,075
	81,223	Vanguard Short-Term Corporate Bond ETF(a)								6,411,743
		TOTAL EXCHANGE-TRADED FUNDS (Cost $18,170,018)								17,929,049
		SHORT-TERM INVESTMENTS — 1.2%
		MONEY MARKET FUNDS - 1.2%
	230,893	First American Treasury Obligations Fund, Class X, 4.25% (Cost $230,893)(b)								230,893
Contracts(c)			Counterparty	Expiration Date	Exercise Price		Notional Value
		EQUITY OPTIONS PURCHASED - 8.7%
		CALL OPTIONS PURCHASED - 6.4%
	60	SPDR S&P 500 ETF Trust	IB	06/20/2025	$	530	$	3,356,340	$	252,000
	60	SPDR S&P 500 ETF Trust	IB	06/20/2025		545		3,356,340		187,260
	51	SPDR S&P 500 ETF Trust	IB	09/19/2025		565		2,852,889		132,090
	70	SPDR S&P 500 ETF Trust	IB	01/16/2026		570		3,915,730		252,770
	15	SPDR S&P 500 ETF Trust	IB	01/16/2026		590		839,085		38,445
	85	SPDR S&P 500 ETF Trust	IB	03/20/2026		570		4,754,815		361,250
		TOTAL CALL OPTIONS PURCHASED (Cost - $1,638,208)								1,223,815
		PUT OPTIONS PURCHASED - 2.3%
	60	SPDR S&P 500 ETF Trust	IB	06/20/2025	$	495	$	3,356,340	$	25,560
	60	SPDR S&P 500 ETF Trust	IB	06/20/2025		500		3,356,340		29,520
	51	SPDR S&P 500 ETF Trust	IB	09/19/2025		505		2,852,889		53,295
	70	SPDR S&P 500 ETF Trust	IB	01/16/2026		520		3,915,730		128,520
	15	SPDR S&P 500 ETF Trust	IB	01/16/2026		535		839,085		36,225
	85	SPDR S&P 500 ETF Trust	IB	03/20/2026		515		4,754,815		167,365
		TOTAL PUT OPTIONS PURCHASED (Cost - $577,734)								440,485
		TOTAL EQUITY OPTIONS PURCHASED (Cost - $2,215,942)								1,664,300

CATALYST BUFFERED SHIELD FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

March 31, 2025

									Fair Value
		TOTAL INVESTMENTS - 103.5% (Cost $20,616,853)							$	19,824,242
		CALL OPTIONS WRITTEN - (0.7)% (Premiums received - $373,061)								(131,172	)
		PUT OPTIONS WRITTEN - (4.6)% (Premiums received - $1,017,979)								(886,675	)
		OTHER ASSETS IN EXCESS OF LIABILITIES - 1.8%								346,265
		NET ASSETS - 100.0%							$	19,152,660
Contracts(c)			Counterparty	Expiration Date	Exercise Price		Notional Value		Fair Value
		WRITTEN EQUITY OPTIONS - (5.3)%
		CALL OPTIONS WRITTEN - (0.7)%
	60	SPDR S&P 500 ETF Trust	IB	06/20/2025	$	610	$	3,356,340	$	10,500
	60	SPDR S&P 500 ETF Trust	IB	06/20/2025		625		3,356,340		3,900
	51	SPDR S&P 500 ETF Trust	IB	09/19/2025		645		2,852,889		7,242
	70	SPDR S&P 500 ETF Trust	IB	01/16/2026		640		3,915,730		44,100
	15	SPDR S&P 500 ETF Trust	IB	01/16/2026		670		839,085		3,210
	85	SPDR S&P 500 ETF Trust	IB	03/20/2026		650		4,754,815		62,220
		TOTAL CALL OPTIONS WRITTEN (Premiums received - $373,061)								131,172
		PUT OPTIONS WRITTEN - (4.6)%
	60	SPDR S&P 500 ETF Trust	IB	06/20/2025	$	530	$	3,356,340	$	56,580
	60	SPDR S&P 500 ETF Trust	IB	06/20/2025		545		3,356,340		78,660
	51	SPDR S&P 500 ETF Trust	IB	09/19/2025		565		2,852,889		132,600
	70	SPDR S&P 500 ETF Trust	IB	01/16/2026		570		3,915,730		242,130
	15	SPDR S&P 500 ETF Trust	IB	01/16/2026		590		839,085		63,735
	85	SPDR S&P 500 ETF Trust	IB	03/20/2026		570		4,754,815		312,970
		TOTAL PUT OPTIONS WRITTEN (Premiums received - $1,017,979)								886,675
		TOTAL EQUITY OPTIONS WRITTEN (Premiums received - $1,391,040)							$	1,017,847

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

(a)	All or a portion of this security is segregated as collateral for written options.
(b)	Rate disclosed is the seven-day effective yield as of March 31, 2025.
(c)	Each option contract allows the holder of the option to purchase or sell 100 shares of the underlying security.

CATALYST ENHANCED INCOME STRATEGY FUND

SCHEDULE OF INVESTMENTS (Unaudited)

March 31, 2025

Principal Amount ($)			Spread	Coupon Rate (%)	Maturity	Fair Value
		ASSET BACKED SECURITIES — 82.3%
		COLLATERALIZED MORTGAGE OBLIGATIONS — 23.9%
	51,847	Alternative Loan Trust Series 2006-J3 4A2		5.7500	05/25/26	$	49,759
	208,688	Alternative Loan Trust Series 2005-3CB 2A1		5.0000	03/25/35		189,392
	2,161,161	Alternative Loan Trust Series 2005-43 4A3(a)		4.1490	10/25/35		1,786,302
	30,027	Banc of America Funding Trust Series 2006-5 4A8		6.0000	09/25/36		25,785
	36,270	Banc of America Funding Trust Series 2006-J 2A3(a)		4.4870	01/20/47		31,286
	117,686	Banc of America Funding Trust Series 2007-A 2A2(b)	TSFR1M + 0.534%	4.8540	02/20/47		102,267
	105,296	Banc of America Mortgage Trust Series 2005-A 1A1(a)		4.0210	02/25/35		90,105
	8,278	Banc of America Mortgage Trust Series 2005-G 4A2(a)		3.4790	08/25/35		7,248
	1,903,298	Banc of America Mortgage Trust Series 2007-2 A1(b)	TSFR1M + 0.464%	4.7850	05/25/37		1,317,811
	181,234	Banc of America Mortgage Trust Series 2007-2 A6		5.7500	05/25/37		139,508
	395,035	Bear Stearns ALT-A Trust Series 2005-5 24A1(a)		4.7100	07/25/35		337,577
	37,299	Bear Stearns ARM Trust Series 2004-7 1A1(a)		0.0000	10/25/34		28,355
	48,942	Bear Stearns ARM Trust Series 2006-2 3A2(a)		4.4450	07/25/36		41,386
	179,565	Bear Stearns ARM Trust Series 2006-4 2A1(a)		4.4140	10/25/36		158,805
	155,396	Chase Mortgage Finance Trust Series 2005-S2 A1		5.5000	10/25/35		151,244
	198,794	ChaseFlex Trust Series 2005-2 2A2		6.5000	06/25/35		101,906
	81,155	ChaseFlex Trust Series 2006-1 A4(a)		6.3000	06/25/36		71,709
	66,873	CHL Mortgage Pass-Through Trust Series 2005-HYB2 1A4(a)		5.3460	05/20/35		64,759
	338,920	CHL Mortgage Pass-Through Trust Series 2006-HYB2 1A1(a)		5.2310	04/20/36		291,042
	826,744	CHL Mortgage Pass-Through Trust Series 2007-17 3A1		2.0040	10/25/37		210,583
	3,984,198	Citicorp Mortgage Securities Trust Series 2008-1 1A1		6.2500	02/25/38		3,809,960
	253,070	Citigroup Mortgage Loan Trust, Inc. Series 2007-6 1A1A(a)		5.0220	03/25/37		224,571
	112,401	CitiMortgage Alternative Loan Trust Series 2007-A4 1A6		5.7500	04/25/37		100,631
	4,937	CSFB Mortgage-Backed Pass-Through Certificates Series 2003-29 7A1		6.5000	12/25/33		5,146
	19,872	CSMC Mortgage-Backed Trust Series 2007-5 8A2		6.0000	09/01/26		19,472
	2,999,202	CSMC Mortgage-Backed Trust Series 2006-7 9A5		2.0900	08/25/36		515,856
	43,531	First Horizon Alternative Mortgage Securities Trust Series 2004-AA3 A1(a)		5.1700	09/25/34		43,893
	7,150	First Horizon Alternative Mortgage Securities Trust Series 2005-AA6 2A1(a)		5.5140	08/25/35		5,026
	10,507	First Horizon Mortgage Pass-Through Trust Series 2000-H 2B1(a)		7.3110	05/25/30		10,509
	144,620	First Horizon Mortgage Pass-Through Trust Series 2007-AR3 2A2(a)		6.3510	11/25/37		110,750
	13,401	GMACM Mortgage Loan Trust Series 2005-AR1 4A(a)		7.4020	03/18/35		13,521
	281,838	GMACM Mortgage Loan Trust Series 2006-J1 A2		5.7500	04/25/36		249,478
	82,584	GSMPS Mortgage Loan Trust Series 1998-5 A(a),(c)		7.5000	06/19/27		81,688
	136,487	GSMPS Mortgage Loan Trust Series 1999-2 A(a),(c)		8.0000	09/19/27		135,886
	156,154	GSR Mortgage Loan Trust Series 2003-5F 2A1		4.0000	08/25/32		151,161

CATALYST ENHANCED INCOME STRATEGY FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

March 31, 2025

Principal Amount ($)			Spread	Coupon Rate (%)	Maturity	Fair Value
		ASSET BACKED SECURITIES — 82.3% (Continued)
		COLLATERALIZED MORTGAGE OBLIGATIONS — 23.9% (Continued)
	10,860	GSR Mortgage Loan Trust Series 2004-2F 6A1		7.0000	01/25/34	$	11,052
	32,983	GSR Mortgage Loan Trust Series 2004-6F 1A2		5.0000	05/25/34		32,624
	503,878	GSR Mortgage Loan Trust Series 2006-9F 4A1		3.1380	10/25/36		185,434
	574,379	GSR Mortgage Loan Trust 2006-3F Series 3F 2A5		5.7500	03/25/36		506,363
	448,032	HSI Asset Loan Obligation Trust Series 2007-2 3A6		1.8560	09/25/37		141,689
	482,314	IndyMac INDA Mortgage Loan Trust Series 2006-AR1 A3(a)		3.8020	08/25/36		380,556
	127,630	IndyMac INDX Mortgage Loan Trust Series 2005-AR3 3A1(a)		4.1390	04/25/35		119,717
	77,228	IndyMac INDX Mortgage Loan Trust Series 2005-AR5 4A1(a)		4.2700	05/25/35		52,599
	137,977	JP Morgan Mortgage Trust Series 2004-S1 1A7		5.0000	09/25/34		130,770
	25,612	JP Morgan Mortgage Trust Series 2006-A2 2A2(a)		5.3060	04/25/36		22,642
	356,410	JP Morgan Mortgage Trust Series 2007-A3 1A1(a)		4.7970	05/25/37		306,454
	8,503	MASTR Adjustable Rate Mortgages Trust Series 2003-5 4A1(a)		2.9300	11/25/33		7,690
	16,218	MASTR Adjustable Rate Mortgages Trust Series 2004-4 4A1(a)		6.2210	05/25/34		15,679
	352,315	MASTR Adjustable Rate Mortgages Trust Series 2005-2 3A1(a)		4.5380	03/25/35		327,525
	89,590	MASTR Alternative Loan Trust Series 2005-5 2A3		5.5000	07/25/25		85,892
	59,350	MASTR Alternative Loan Trust Series 2005-3 2A1		6.0000	03/25/35		54,871
	351	MASTR Asset Securitization Trust Series 2005-1 1A1(g)		5.0000	Perpetual		188
	685,659	Merrill Lynch Alternative Note Asset Trust Series 2007-A2 A3D(b)	TSFR1M + 0.714%	5.0340	03/25/37		25,548
	912,958	Merrill Lynch Mortgage Investors Trust Series 2006-AF2 AF1		4.8770	10/25/36		332,557
	48,679	Morgan Stanley Mortgage Loan Trust Series 2004-5AR 1A1(a)		6.5820	07/25/34		49,456
	184,217	Morgan Stanley Mortgage Loan Trust Series 2006-2 2A4		5.7500	02/25/36		171,222
	1,287,152	Nomura Asset Acceptance Corp Alternative Loan Trust Series 2005-AP3 A3(a)		1.6820	08/25/35		560,480
	354,425	Nomura Asset Acceptance Corp Alternative Loan Trust Series 2005-AR4 5A3(b)	TSFR1M + 0.694%	5.0140	08/25/35		288,850
	46,134	Prime Mortgage Trust Series 2004-1 1A6		5.2500	08/25/34		45,243
	68,837	RALI Trust Series 2006-QS17 A4		6.0000	12/25/36		56,853
	2,413,092	Residential Asset Securitization Trust Series 2007-A8 3A1(a)		1.6890	08/25/37		1,072,532
	780,133	Residential Asset Securitization Trust Series IP1 B1(a)		4.9620	01/25/34		697,919
	38,311	RFMSI Trust Series 2006-S3 A2		5.5000	03/25/36		31,021
	31,402	Structured Adjustable Rate Mortgage Loan Trust Series 2005-7 3A1(a)		5.2500	04/25/35		30,999
	1,374,602	Structured Asset Securities Corporation Series 1998-RF1 A(a),(c)		4.0320	04/15/27		1,372,742
	9,552	Thornburg Mortgage Securities Trust Series 2006-4 A2B(a)		6.0140	07/25/36		7,715
	1,322,562	Thornburg Mortgage Securities Trust Series 2007-2 A2A(b)	TSFR12M + 1.965%	5.9780	06/25/37		1,129,259
	5,277,789	Thornburg Mortgage Securities Trust Series 2006-3 A1(a)		3.7700	06/25/46		3,219,570
	142,017	Thornburg Mortgage Securities Trust Series 2007-3 3A1(b)	TSFR12M + 1.965%	5.9780	06/25/47		125,546
	51,012	WaMu Mortgage Pass-Through Certificates Series 2005-AR18 2A1(a)		4.3920	01/25/36		47,432

CATALYST ENHANCED INCOME STRATEGY FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

March 31, 2025

Principal Amount ($)			Spread	Coupon Rate (%)	Maturity	Fair Value
		ASSET BACKED SECURITIES — 82.3% (Continued)
		COLLATERALIZED MORTGAGE OBLIGATIONS — 23.9% (Continued)
	496,914	Washington Mutual Mortgage Pass-Through Certificates Series 2006-2 1A4(b)	TSFR1M + 0.814%	5.1350	03/25/36	$	460,953
	235,490	Wells Fargo Mortgage Backed Securities Series 2006-7 2A1		6.0000	06/25/36		209,360
							22,991,379
		HOME EQUITY — 22.3%
	167,056	Amresco Residential Securities Corp Mortgage Loan Trust Series 1997-3 M2F(a)		3.7560	09/25/27		161,898
	435,525	Bayview Financial Acquisition Trust Series 2007-A 2A(b)	TSFR1M + 0.639%	4.9670	05/28/37		412,899
	334,034	Bear Stearns Asset Backed Securities I Trust Series 2004-FR2 M5(b)	TSFR1M + 2.739%	7.0590	06/25/34		325,950
	74,604	Bear Stearns Asset Backed Securities I Trust Series 2004-HE7 M5(b)	TSFR1M + 3.039%	7.3600	08/25/34		72,400
	915,923	Bear Stearns Asset Backed Securities Trust Series 2004-2 M2(b)	TSFR1M + 2.964%	7.2840	08/25/34		924,735
	88,382	CHEC Loan Trust Series 2004-2 M1(b)	TSFR1M + 1.074%	5.3950	06/25/34		89,595
	384,134	Delta Funding Home Equity Loan Trust Series 1998-1 B1A(b)	TSFR1M + 2.004%	6.3240	05/25/30		380,290
	495,798	EMC Mortgage Loan Trust Series 2001-A A(b),(c)	TSFR1M + 0.854%	5.1750	05/25/40		492,810
	47,802	GE Mortgage Services, LLC Series 1998-HE2 A6(a)		6.6450	09/25/28		47,726
	313,129	Home Equity Mortgage Loan Asset-Backed Trust Series SPMD 2004-C M3(b)	TSFR1M + 1.089%	4.7990	03/25/35		264,917
	184,628	Home Equity Mortgage Loan Asset-Backed Trust Series SPMD 2004-C M7 (b)	TSFR1M + 2.739%	7.0590	03/25/35		153,343
	927,142	Mastr Asset Backed Securities Trust Series 2003-OPT2 M4(b)	TSFR1M + 5.889%	10.2090	05/25/33		795,313
	443,099	Mastr Asset Backed Securities Trust Series 2003-WMC2 M6(b)	TSFR1M + 6.114%	10.4340	08/25/33		469,254
	278,291	Meritage Mortgage Loan Trust Series 2004-1 M1(b)	TSFR1M + 0.864%	5.1850	07/25/34		276,796
	58,606	Morgan Stanley A.B.S Capital I Inc Trust Series 2004-HE1 B1(b)	TSFR1M + 2.739%	7.0600	01/25/34		63,202
	5,827,783	Morgan Stanley Mortgage Loan Trust Series 2006-15XS A6B(d)		6.3300	11/25/36		4,530,594
	803,119	Nomura Home Equity Loan Inc Home Equity Loan Trust Series 2006-AF1 A4(b)	TSFR1M + 0.774%	5.0940	10/25/36		177,684
	167,479	NovaStar Mortgage Funding Trust Series 2004-1 M4(b)	TSFR1M + 1.577%	5.8970	06/25/34		160,597
	232,819	Renaissance Home Equity Loan Trust Series 2003-2 M1(b)	TSFR1M + 1.352%	5.6720	08/25/33		218,400
	618,507	Saxon Asset Sec Trust Mtg Ln Asset Bk Cert Series 2000-1 BF1(a)		2.5850	02/25/30		763,838
	3,392,722	Structured Asset Securities Corp Mortgage Loan Trust Series 2005-NC2 M7(b)	TSFR1M + 1.164%	5.4840	05/25/35		3,141,039
	23,587,000	Terwin Mortgage Trust Series 2006-3 2A3 2A3(b),(c)	TSFR1M + 0.734%	5.0540	04/25/37		7,481,899
							21,405,179
		MANUFACTURED HOUSING — 1.4%
	4,460,673	Conseco Finance Corporation Series 1999-5 A5(a)		7.8600	03/01/30		1,358,727
		NON AGENCY CMBS — 21.7%
	4,565,000	Citigroup Commercial Mortgage Trust Series 2015-GC35 D		3.2360	11/10/48		2,718,411
	4,108,000	COMM 2013-CCRE12 Mortgage Trust Series 2013-CR12 C(a)		0.0000	10/10/46		458,989

CATALYST ENHANCED INCOME STRATEGY FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

March 31, 2025

Principal Amount ($)			Spread	Coupon Rate (%)	Maturity	Fair Value
		ASSET BACKED SECURITIES — 82.3% (Continued)
		NON AGENCY CMBS — 21.7% (Continued)
	2,622,300	GS Mortgage Securities Trust Series 2014-GC22 D(a),(c)		4.4780	06/10/47	$	888,828
	5,726,000	GS Mortgage Securities Trust Series 2014-GC22 E(c)		0.0000	06/10/47		1,402,131
	1,350,000	HMH Trust Series 2017-NSS E(c)		6.2920	07/05/31		121,486
	1,250,000	JPMBB Commercial Mortgage Securities Trust Series 2015-C32 D(a)		4.0770	11/15/48		159,356
	4,000,000	Morgan Stanley Capital I Trust Series 2012-C4 E(a),(c)		4.8200	03/15/45		1,544,320
	4,544,819	Morgan Stanley Capital I Trust Series 2006-T21 C(a),(c)		5.1610	10/12/52		3,606,705
	10,295,060	Starwood Retail Property Trust Series 2014-STAR A(b),(c)	PRIME - –%	7.5000	11/15/27		6,842,992
	1,746,928	Wachovia Bank Commercial Mortgage Trust Series 2006-C24 E(a)		5.0020	03/15/45		1,650,634
	3,000,000	WFRBS Commercial Mortgage Trust Series 2014-C22 E(c)		3.4550	09/15/57		1,398,652
	145,000	WFRBS Commercial Mortgage Trust Series 2011-C4 E(a),(c)		4.9600	06/15/44		132,294
							20,924,798
		RESIDENTIAL MORTGAGE — 13.0%
	5,235,341	Carrington Mortgage Loan Trust Series 2006-FRE2 A2(b)	TSFR1M + 0.234%	4.5540	10/25/36		4,029,797
	1,961,594	CSMC Trust Series 2006-CF3 M3(b),(c)	TSFR1M + 1.364%	5.6850	10/25/36		2,279,493
	626,282	Encore Credit Receivables Trust Series 2005-1 M4(b)	TSFR1M + 1.134%	5.4540	07/25/35		569,137
	246,381	Finance America Mortgage Loan Trust Series 2004-3 M4(b)	TSFR1M + 1.380%	5.8140	11/25/34		215,282
	69,727	Home Equity Mortgage Loan Asset-Backed Trust Series INABS Series 2006-D 2A3(b)	TSFR1M + 0.274%	4.5950	11/25/36		62,755
	39,783	Morgan Stanley A.B.S Capital I Inc Trust Series 2004-NC8 M4(b)	TSFR1M + 1.614%	5.9350	09/25/34		43,379
	8,875,000	Morgan Stanley A.B.S Capital I Inc Trust Series 2007-SEA1 2A4(b),(c)	TSFR1M + 3.914%	8.2340	02/25/47		819,372
	3,173,453	Park Place Securities Inc Asset-Backed Pass-Through Certificates Series 2004-WCW2 M6(b)	TSFR1M + 2.289%	6.6090	10/25/34		2,797,402
	201,347	Structured Asset Investment Loan Trust Series 2004-5 M5(b)	TSFR1M + 1.839%	6.1600	05/25/34		180,331
	12,206,000	Structured Asset Securities Corp Mortgage Loan Series 2007-BNC1 A4(b)	TSFR1M + 1.614%	5.9350	10/25/37		1,509,891
							12,506,839
		TOTAL ASSET BACKED SECURITIES (Cost $101,097,913)					79,186,922
Principal Amount ($)			Spread	Coupon Rate (%)	Maturity	Fair Value
		U.S. GOVERNMENT & AGENCY OBLIGATIONS — 14.9%
	128,805	Fannie Mae REMICS Series 2012-126 DI(e)		3.0000	11/25/27		3,383
	2,329,290	Fannie Mae REMICS Series 2010-27 SG(b),(e)	-(SOFR30A+.114%) + 5.000%	0.5460	04/25/40		143,525
	2,852,530	Fannie Mae REMICS Series 2011-117 SA(b),(e)	-(SOFR30A+.114%) + 6.550%	2.0960	11/25/41		335,135
	694,124	Fannie Mae REMICS Series 2012-126 SJ(b),(e)	-(SOFR30A+.114%) + 5.000%	0.5460	11/25/42		46,357
	2,644,610	Fannie Mae REMICS Series 2014-6 SA(b),(e)	-(SOFR30A+.114%) + 6.600%	2.1460	02/25/44		323,537

CATALYST ENHANCED INCOME STRATEGY FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

March 31, 2025

Principal Amount ($)			Spread	Coupon Rate (%)	Maturity	Fair Value
		U.S. GOVERNMENT & AGENCY OBLIGATIONS — 14.9% (Continued)
	538,331	Fannie Mae REMICS Series 2017-30 MI(e)		4.0000	02/25/44	$	17,207
	23,124	Fannie Mae REMICS Series 2017-6 MI(e)		4.0000	08/25/44		1,137
	2,015,589	Fannie Mae REMICS Series 2016-64 SA(b),(e)	-(SOFR30A+.114%) + 6.000%	1.5460	09/25/46		219,288
	540,937	Fannie Mae REMICS Series 2017-38 S(b),(e)	-(SOFR30A+.114%) + 6.100%	1.6460	05/25/47		63,817
	824,484	Fannie Mae REMICS Series 2017-112 SC(b),(e)	-(SOFR30A+.114%) + 6.150%	1.6960	01/25/48		97,694
	12,597,605	Fannie Mae REMICS Series 2018-28 ID(a),(e)		2.3100	05/25/48		996,978
	215,907	Fannie Mae REMICS Series 2020-16 SJ(b),(e)	-(SOFR30A+.114%) + 6.050%	1.5960	03/25/50		20,680
	2,905,674	Fannie Mae REMICS Series 2020-95 IB(e)		2.5000	01/25/51		462,542
	3,040,458	Fannie Mae REMICS Series 2021-56 IM(b),(e)	-0.67 x SOFR30A + 2.200%	0.0000	09/25/51		68,090
	19,443,864	Fannie Mae REMICS Series 2021-69 JS(b),(e)	-SOFR30A + 2.550%	0.0000	10/25/51		330,902
	10,758,392	Fannie Mae REMICS Series 2021-80 IA(e)		2.0000	11/25/51		1,366,795
	2,531,309	Fannie Mae REMICS Series 2012-88 SB(b),(e)	-(SOFR30A+.114%) + 6.670%	2.2160	07/25/42		269,720
	118,639	Freddie Mac REMICS Series 4205 AI(e)		2.5000	05/15/28		2,884
	5,864,097	Freddie Mac REMICS Series 4639 GS(b),(e)		1.9960	03/15/36		358,805
	695,989	Freddie Mac REMICS 3852 SW(b),(e)	-(SOFR30A+.114%) + 6.000%	1.5370	05/15/41		69,769
	126,528	Freddie Mac REMICS Series 3980 TS(b),(e)	-(SOFR30A+.114%) + 6.500%	2.0370	09/15/41		15,625
	672,492	Freddie Mac REMICS Series 4100 JI(e)		3.5000	10/15/41		75,072
	383,653	Freddie Mac REMICS Series 4580 MI(e)		3.5000	02/15/43		5,145
	5,250,294	Freddie Mac REMICS Series 4239 MI(b),(e)	-5.8333 x (SOFR30A+.114%) + 29.458%	3.2080	07/15/43		1,000,185
	49,684	Freddie Mac REMICS Series 4449 PI(e)		4.0000	11/15/43		3,919
	410,918	Freddie Mac REMICS Series 4314 SE(b),(e)	-(SOFR30A+.114%) + 6.050%	1.5870	03/15/44		41,902
	318,712	Freddie Mac REMICS Series 4431 ST(b),(e)	-(SOFR30A+.114%) + 6.100%	1.6370	01/15/45		36,444
	14,346	Freddie Mac REMICS Series 4818 BI(e)		4.0000	03/15/45		66
	100,430	Freddie Mac REMICS Series 4672 AI(e)		4.5000	03/15/45		797
	4,953,023	Freddie Mac REMICS Series 4604 SA(b),(e)	-(SOFR30A+.114%) + 6.100%	1.6370	08/15/46		456,506
	399,000	Freddie Mac REMICS Series 5050 GL		1.2500	12/25/50		175,052
	5,386,533	Freddie Mac REMICS Series 5071 IS(e)		2.0000	02/25/51		601,111
	17,808,365	Freddie Mac REMICS Series 5090 SA(b),(e)	-SOFR30A + 1.550%	0.0000	03/25/51		57,760
	14,326,108	Freddie Mac REMICS Series 5177 AS(b),(e)	-SOFR30A + 3.150%	0.0000	12/25/51		154,547
	217,718	Government National Mortgage Association 2014-118 AI(e)		3.5000	05/16/40		6,051

CATALYST ENHANCED INCOME STRATEGY FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

March 31, 2025

Principal Amount ($)			Spread	Coupon Rate (%)	Maturity	Fair Value
		U.S. GOVERNMENT & AGENCY OBLIGATIONS — 14.9% (Continued)
	4,945,277	Government National Mortgage Association Series 2010-147 S(b),(e)	-(TSFR1M+.114%) + 6.650%	2.2160	11/20/40	$	598,792
	9,879,645	Government National Mortgage Association Series 2011-99 DS(b),(e)	-(TSFR1M+.114%) + 6.100%	1.6660	07/16/41		920,476
	2,189,470	Government National Mortgage Association Series 2011-100 SA(b),(e)	-(TSFR1M+.114%) + 5.450%	1.0160	07/20/41		182,170
	2,645,159	Government National Mortgage Association Series 2015-3 DS(b),(e)	-(TSFR1M+.114%) + 5.600%	1.1660	11/20/41		46,871
	157,903	Government National Mortgage Association Series 2012-36 QS(b),(e)	-(TSFR1M+.114%) + 6.620%	2.1860	03/20/42		13,578
	1,455,564	Government National Mortgage Association Series 2014-3 SE(b),(e)	-(TSFR1M+.114%) + 6.150%	1.7160	01/16/44		147,145
	2,105,693	Government National Mortgage Association Series 2014-36 SY(b),(e)	-(TSFR1M+.114%) + 6.200%	1.7660	03/16/44		210,474
	2,424,803	Government National Mortgage Association Series 2014-133 SA (b),(e)	-(TSFR1M+.114%) + 6.250%	1.8160	09/16/44		208,740
	168,545	Government National Mortgage Association Series 2018-154 DI(e)		4.0000	01/20/45		2,642
	1,598,129	Government National Mortgage Association Series 2019-22 SA(b),(e)	-(TSFR1M+.114%) + 5.600%	1.1660	02/20/45		153,268
	193,506	Government National Mortgage Association(b),(e)	-(TSFR1M+.114%) + 6.200%	1.7660	01/20/46		21,444
	2,012,429	Government National Mortgage Association(b),(e)	-(TSFR1M+.114%) + 6.200%	1.7660	09/20/48		202,561
	4,203,049	Government National Mortgage Association(b),(e)	-(TSFR1M+.114%) + 6.150%	1.7160	11/20/48		483,395
	3,213,062	Government National Mortgage Association(b),(e)	-(TSFR1M+.114%) + 6.200%	1.7660	11/20/48		320,745
	10,682,974	Government National Mortgage Association(b),(e)	-(TSFR1M+.114%) + 3.790%	0.0000	02/20/49		214,513
	2,098,989	Government National Mortgage Association(b),(e)	-(TSFR1M+.114%) + 6.050%	1.6160	08/20/49		235,067
	19,298,615	Government National Mortgage Association(b),(e)	-(TSFR1M+.114%) + 3.410%	0.0000	09/20/49		321,903
	952,000	Government National Mortgage Association		1.5000	09/20/50		448,225
	290,582	Government National Mortgage Association		1.5000	05/20/51		155,790
	14,420,913	Government National Mortgage Association(b),(e)	-SOFR30A + 3.650%	0.0000	08/20/51		300,673
	13,986	Government National Mortgage Association(e)		7.0000	03/20/52		104
	15,645,893	Government National Mortgage Association(b),(e)	-SOFR30A + 3.200%	0.0000	05/20/52		108,726
	16,027,652	Government National Mortgage Association(b),(e)	-SOFR30A + 4.150%	0.0000	05/20/52		600,111
	39,752,074	Government National Mortgage Association(b),(e)	-SOFR30A + 3.690%	0.0000	07/20/52		585,675
		TOTAL U.S. GOVERNMENT & AGENCY OBLIGATIONS (Cost $23,449,878)					14,311,515

CATALYST ENHANCED INCOME STRATEGY FUND

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

March 31, 2025

Shares			Fair Value
		SHORT-TERM INVESTMENTS — 2.5%
		MONEY MARKET FUNDS - 2.5%
	2,419,601	First American Treasury Obligations Fund, Class X, 4.25% (Cost $2,419,601)(f)	$	2,419,601
		TOTAL INVESTMENTS - 99.7% (Cost $126,967,392)	$	95,918,038
		OTHER ASSETS IN EXCESS OF LIABILITIES- 0.3%		303,489
		NET ASSETS - 100.0%	$	96,221,527

LLC	- Limited Liability Company
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)	Variable or floating rate security, the interest rate of which adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets.
(b)	Variable rate security: the rate shown represents the rate on March 31, 2025
(c)	Security is 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 March 31, 2025, the total market value of 144A securities is 28,601,298 or 29.7% of net assets.
(d)	Step bond. Coupon rate is a fixed rate that changes on a specified date. The rate shown is the current rate at March 31, 2025.
(e)	Interest only securities.
(f)	Rate disclosed is the seven-day effective yield as of March 31, 2025.
(g)	Maturity is not determined on this security, maturity will occur based on the maturity of the underlying bonds.