NPORT-EX 2 edfv2confidential.htm EVENT DRIVEN SOI
WCM Alternatives: Event-Driven Fund
             
SCHEDULE OF INVESTMENTS
             
March 31, 2020 (Unaudited)
             
               
   
Shares
         
Value
 
LONG INVESTMENTS - 98.68%
                 
COMMON STOCKS - 16.81%
                 
AEROSPACE & DEFENSE - 1.27%
                 
United Technologies Corporation (e)
   
27,196
         
$
2,565,399
 
ASSET MANAGEMENT & CUSTODY BANKS - 0.32%
                     
Apollo Global Management, Inc. (j)
   
19,073
           
638,945
 
AUTO PARTS & EQUIPMENT - 0.39%
                     
Delphi Technologies plc (a)(b)
   
99,027
           
797,167
 
AUTOMOTIVE RETAIL - 0.00%
                     
Kaixin Auto Holdings (a)(b)
   
9,742
           
8,476
 
BIOTECHNOLOGY - 0.87%
                     
Forty Seven, Inc. (a)
   
7,040
           
671,757
 
Ra Pharmaceuticals, Inc. (a)
   
22,637
           
1,086,802
 
                   
1,758,559
 
BROADCASTING - 0.67%
                     
Fox Corporation Class A
   
5,874
           
138,803
 
Fox Corporation Class B
   
52,833
           
1,208,819
 
                   
1,347,622
 
CASINOS & GAMING - 0.29%
                     
MGM Resorts International (j)
   
37,700
           
444,860
 
The Stars Group, Inc (a)(b)(f)
   
7,620
           
151,867
 
                   
596,727
 
CHEMICALS - 1.34%
                     
DuPont de Nemours, Inc. (e)(j)
   
74,569
           
2,542,803
 
OMNOVA Solutions, Inc. (a)
   
15,998
           
162,220
 
                   
2,705,023
 
CONSTRUCTION MACHINERY & HEAVY TRUCKS - 0.38%
                     
WABCO Holdings, Inc. (a)
   
5,754
           
777,078
 
ELECTRIC UTILITIES - 0.67%
                     
El Paso Electric Company
   
19,848
           
1,348,870
 
ELECTRICAL EQUIPMENT - 0.26%
                     
Eaton Corporation plc (b)(j)
   
6,900
           
536,061
 
HEALTH CARE EQUIPMENT - 0.17%
                     
Wright Medical Group N.V. (a)(b)
   
12,149
           
348,069
 
INSURANCE - 0.04%
                     
Syncora Holdings Ltd. (b)
   
226,178
           
83,686
 
INSURANCE BROKERS - 0.87%
                     
Willis Towers Watson plc (b)
   
10,376
           
1,762,364
 
INTERACTIVE MEDIA & SERVICES - 0.37%
                     
IAC/InterActiveCorp (a)(e)(j)
   
4,187
           
750,436
 
INTERNET & DIRECT MARKETING RETAIL - 1.26%
                     
eBay, Inc. (e)(j)
   
84,600
           
2,543,076
 
Reebonz Holdings Ltd. (a)(b)
   
597
           
254
 
                   
2,543,330
 
INVESTMENT BANKING & BROKERAGE - 0.69%
                     
E*TRADE Financial Corporation
   
40,795
           
1,400,084
 
IT CONSULTING & OTHER SERVICES - 0.09%
                     
Grid Dynamics Holdings, Inc. (a)
   
22,830
           
182,640
 
LIFE & HEALTH INSURANCE - 0.03%
                     
Genworth Financial, Inc. Class A (a)
   
15,670
           
52,024
 
LIFE SCIENCES TOOLS & SERVICES - 0.19%
                     
Qiagen N.V. (a)(b)
   
9,164
           
381,222
 
METALS & MINING - 0.01%
                     
Pan American Silver Corporation (b)
   
1,947
           
27,900
 
MOVIES & ENTERTAINMENT - 0.01%
                     
Akazoo S.A. (a)(b)
   
7,150
           
20,020
 
OIL & GAS EXPLORATION & PRODUCTION - 0.03%
                     
Callon Petroleum Company (a)
   
116,100
           
63,611
 
OIL & GAS REFINING & MARKETING - 2.20%
                     
Marathon Petroleum Corporation (e)(j)
   
188,600
           
4,454,732
 
OIL & GAS & CONSUMABLE FUELS - 0.00%
                     
Ovintiv, Inc.
   
3,401
           
9,183
 
OTHER DIVERSIFIED FINANCIAL SERVICES - 0.65%
                     
FGL Holdings (b)
   
134,493
           
1,318,031
 
PHARMACEUTICALS - 0.64%
                     
Allergan plc (b)
   
7,273
           
1,288,048
 
REGIONAL BANKS - 0.02%
                     
IBERIABANK Corporation
   
1,330
           
48,093
 
REITs - 0.12%
                     
Digital Realty Trust, Inc.
   
1,813
           
251,800
 
SEMICONDUCTORS - 0.34%
                     
Mellanox Technologies Ltd. (a)(b)(j)
   
5,678
           
688,855
 
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 0.33%
                     
Cypress Semiconductor Corporation
   
28,690
           
669,051
 
SPECIALTY STORES - 0.29%
                     
Tiffany & Company
   
4,501
           
582,879
 
SYSTEMS SOFTWARE - 0.74%
                     
Forescout Technologies, Inc. (a)
   
47,460
           
1,499,261
 
TECHNOLOGY DISTRIBUTORS - 0.76%
                     
Anixter International, Inc. (a)
   
17,465
           
1,534,650
 
TECHNOLOGY HARDWARE, STORAGE & PERIPHERALS - 0.14%
                     
Xerox Holdings Corporation (j)
   
14,600
           
276,524
 
WIRELESS TELECOMMUNICATION SERVICES - 0.36%
                     
T-Mobile USA, Inc. (a)(j)
   
3,731
           
313,031
 
Vodafone Group plc - ADR
   
30,600
           
421,362
 
                   
734,393
 
TOTAL COMMON STOCKS (Cost $41,700,939)
                 
34,050,813
 
                       
SPECIAL PURPOSE ACQUISITION COMPANIES - 13.63% (a)
                     
Act II Global Acquisition Corporation Class A (b)(e)
   
90,858
           
896,769
 
Alberton Acquisition Corporation (b)(e)
   
242,664
           
2,547,972
 
Apex Technology Acquisition Corporation Class A
   
58,964
           
574,899
 
CHP Merger Corporation Class A
   
40,120
           
389,164
 
Churchill Capital Corporation III
   
40,000
           
400,000
 
CIIG Merger Corporation Class A (f)
   
159,548
           
1,526,874
 
Collier Creek Holdings Class A (b)
   
42,300
           
432,729
 
dMY Technology Group, Inc.
   
6,088
           
59,845
 
FinTech Acquisition Corporation III Class A
   
168,874
           
1,690,429
 
Flying Eagle Acquisition Corporation
   
2,472
           
24,646
 
Galileo Acquisition Corporation (b)
   
126,337
           
1,222,942
 
GigCapital2, Inc.
   
37,777
           
375,881
 
Gordon Pointe Acquisition Corporation (f)
   
4,482
           
47,845
 
Gores Holdings IV, Inc.
   
192,546
           
1,938,938
 
Graf Industrial Corporation (e)
   
197,624
           
2,009,836
 
Hennessy Capital Acquisition Corporation IV Class A
   
167,612
           
1,694,557
 
InterPrivate Acquisition Corporation
   
33,893
           
335,202
 
Juniper Industrial Holdings, Inc. Class A
   
165,386
           
1,591,013
 
Legacy Acquisition Corporation Class A
   
197,442
           
2,047,474
 
Leisure Acquisition Corporation (f)
   
5,160
           
52,890
 
LF Capital Acquisition Corporation Class A (f)
   
5,834
           
60,061
 
LGL Systems Acquisition Corporation
   
54,748
           
551,312
 
Monocle Acquisition Corporation
   
15,759
           
158,378
 
Orisun Acquisition Corporation
   
8,528
           
86,900
 
Pivotal Investment Corporation II Class A
   
97,371
           
964,947
 
PropTech Acquisition Corporation Class A (f)
   
98,000
           
958,930
 
SCVX Corporation (b)
   
25,214
           
251,384
 
Software Acquisition Group, Inc. (f)
   
37,274
           
378,145
 
Trident Acquisitions Corporation
   
93,712
           
1,013,964
 
Tuscan Holdings Corporation (e)
   
168,926
           
1,684,192
 
Tuscan Holdings Corporation II
   
146,060
           
1,424,085
 
VectoIQ Acquisition Corporation
   
19,171
           
203,979
 
TOTAL SPECIAL PURPOSE ACQUISITION COMPANIES (Cost $26,756,413)
                 
27,596,182
 
                       
CLOSED-END FUNDS - 2.62%
                     
Apollo Senior Floating Rate Fund, Inc.
   
11,127
           
129,184
 
Apollo Tactical Income Fund, Inc.
   
11,139
           
126,205
 
Ares Dynamic Credit Allocation Fund
   
4,683
           
50,530
 
BlackRock Debt Strategies Fund, Inc.
   
35,063
           
296,282
 
BlackRock Floating Rate Income Strategies Fund, Inc.
   
9,611
           
96,206
 
BlackRock MuniYield Quality Fund III, Inc.
   
57,617
           
736,345
 
Eaton Vance Floating-Rate Income Trust
   
28,528
           
292,412
 
First Trust Senior Floating Rate Income Fund II
   
5,810
           
55,253
 
Invesco Dynamic Credit Opportunities Fund
   
18,617
           
148,564
 
Invesco Senior Income Trust
   
64,480
           
207,626
 
Nuveen AMT-Free Quality Municipal Income Fund
   
55,115
           
746,257
 
Nuveen Intermediate Duration Municipal Term Fund
   
57,365
           
745,171
 
Nuveen Municipal Credit Income Fund
   
48,255
           
678,948
 
Nuveen New York AMT-Free Quality Municipal Income Fund
   
58,257
           
728,213
 
Voya Prime Rate Trust
   
73,819
           
273,868
 
TOTAL CLOSED-END FUNDS (Cost $6,135,511)
                 
5,311,064
 
                       
PREFERRED STOCKS - 2.28%
                     
Freddie Mac, 8.375%, Series Z (a)
   
616,272
           
3,753,097
 
GMAC Capital Trust I, 7.477% ( 3 Month U.S. LIBOR +5.785%), 2/15/2040, Series 2 (i)
   
39,471
           
809,550
 
Pebblebrook Hotel Trust, 6.375%, Series E
   
3,515
           
56,240
 
TOTAL PREFERRED STOCKS (Cost $7,917,849)
                 
4,618,887
 
                       
CONTINGENT VALUE RIGHTS - 0.15% (a)(d)(g)
                     
Alder Biopharmaceuticals, Inc.
   
194,778
           
311,645
 
Media General, Inc. (e)
   
42,852
           
1,285
 
TOTAL CONTINGENT VALUE RIGHTS (Cost $0)
                 
312,930
 
                       
RIGHTS - 0.20% (a)
                     
Bristol-Myers Squibb Company
   
71,628
           
272,186
 
GigCapital2, Inc. (f)
   
37,777
           
14,335
 
Pan American Silver Corporation (a)(b)
   
322,499
           
109,650
 
TOTAL RIGHTS (Cost $475,019)
                 
396,171
 
                       
WARRANTS - 0.30% (a)
                     
Act II Global Acquisition Corporation Class A
                     
Expiration: April 2024, Exercise Price: $11.50 (b)(f)
   
45,429
           
29,529
 
Akazoo S.A.
                     
Expiration: December 2024, Exercise Price: $11.50 (b)(f)
   
35,748
           
11,082
 
Apex Technology Acquisition Corporation Class A
                     
Expiration: September 2026, Exercise Price: $11.50
   
29,482
           
26,534
 
CF Finance Acquisition Corporation Class A
                     
Expiration: April 2025, Exercise Price: $11.50
   
81,375
           
40,687
 
CHP Merger Corporation Class A
                     
Expiration: November 2024, Exercise Price: $11.50
   
20,060
           
10,832
 
CIIG Merger Corporation Class A
                     
Expiration: December 2026, Exercise Price: $11.50 (f)
   
79,774
           
47,466
 
Collier Creek Holdings Class A
                     
Expiration: November 2023, Exercise Price: $11.50 (b)(f)
   
14,100
           
13,113
 
FinTech Acquisition Corporation III Class A
                     
Expiration: December 2023, Exercise Price: $11.50
   
84,437
           
50,662
 
Galileo Acquisition Corporation
                     
Expiration: October 2026, Exercise Price: $11.50 (b)
   
126,337
           
31,597
 
GigCapital2, Inc.
                     
Expiration: July 2024, Exercise Price: $11.50
   
37,777
           
11,662
 
Graf Industrial Corporation
                     
Expiration: December 2025, Exercise Price: $11.50
   
197,624
           
19,762
 
Grid Dynamics Holdings, Inc.
                     
Expiration: September 2023, Exercise Price: $11.50
   
11,415
           
21,688
 
Hennessy Capital Acquisition Corporation IV Class A
                     
Expiration: September 2025, Exercise Price: $11.50
   
125,709
           
43,998
 
International General Insurance Holdings Ltd.
                     
Expiration: March 2025, Exercise Price: $11.50 (b)
   
20,975
           
8,810
 
Juniper Industrial Holdings, Inc. Class A
                     
Expiration: November 2026, Exercise Price: $11.50
   
82,693
           
46,308
 
Kaixin Auto Holdings
                     
Expiration: April 2024, Exercise Price: $11.50 (b)(f)
   
48,712
           
524
 
KLDiscovery, Inc.
                     
Expiration: December 2025, Exercise Price: $11.50
   
10,000
           
1,900
 
Legacy Acquisition Corporation Class A
                     
Expiration: November 2022, Exercise Price: $11.50
   
144,392
           
36,098
 
Monocle Acquisition Corporation
                     
Expiration: December 2024, Exercise Price: $11.50
   
15,759
           
4,728
 
Nebula Acquisition Corporation Class A
                     
Expiration: January 2023, Exercise Price: $11.50
   
16,357
           
16,521
 
Pivotal Investment Corporation II Class A
                     
Expiration: June 2025, Exercise Price: $11.50 (f)
   
32,457
           
16,228
 
PropTech Acquisition Corporation Class A
                     
Expiration: October 2026, Exercise Price: $11.50 (f)
   
49,000
           
24,520
 
Reebonz Holdings Ltd.
                     
Expiration: December 2023, Exercise Price: $11.50 (b)(f)
   
23,859
           
185
 
Tuscan Holdings Corporation
                     
Expiration: April 2026, Exercise Price: $11.50 (e)
   
168,926
           
65,881
 
Tuscan Holdings Corporation II
                     
Expiration: April 2025, Exercise Price: $11.50 (f)
   
73,030
           
21,956
 
TOTAL WARRANTS (Cost $942,592)
                 
602,271
 
                       
   
Principal
Amount
               
BANK LOANS - 5.68% (f)(i)
                     
Avaya Holdings Corporation
                     
4.955% (3 Month U.S. LIBOR + 4.250%), 12/15/2024
 
$
869,585
           
752,191
 
Cengage Learning Holdings II, Inc.
                     
5.250% (3 Month U.S. LIBOR + 4.250%), 6/7/2023
   
1,242,492
           
1,003,312
 
CEOC LLC
                     
3.603% (3 Month U.S. LIBOR + 2.000%), 10/6/2024
   
745,000
           
614,625
 
Claire's Stores, Inc.
                     
8.421% (1 Month U.S. LIBOR + 6.500%), 12/18/2026
   
262,000
           
218,770
 
Heritage Power LLC
                     
7.771% (1 Month U.S. LIBOR + 6.000%), 8/2/2026
   
3,552,150
           
2,930,524
 
McGraw-Hill Global Education Holdings LLC
                     
5.000% (3 Month U.S. LIBOR + 4.000%), 5/4/2022
   
999,819
           
824,851
 
Refinitiv U.S. Holdings, Inc.
                     
4.239% (3 Month U.S. LIBOR + 4.250%), 10/1/2025
   
2,792,293
           
2,695,721
 
RentPath LLC
                     
0.000% (3 Month U.S. LIBOR + 4.750%), 12/17/2021
   
2,956,000
           
2,320,460
 
8.660% (1 Month U.S. LIBOR + 7.000%), 12/14/2025
   
138,073
           
131,859
 
TOTAL BANK LOANS (Cost $12,778,955)
                 
11,492,313
 
                       
CONVERTIBLE BONDS - 1.71% (f)
                     
Caesars Entertainment Corporation
                     
5.000%, 10/1/2024
   
251,397
           
269,004
 
NII Holdings, Inc.
                     
4.250%, 8/15/2023 (h)
   
2,923,000
           
3,186,070
 
TOTAL CONVERTIBLE BONDS (Cost $3,192,702)
                 
3,455,074
 
                       
CORPORATE BONDS - 12.21% (f)
                     
APX Group, Inc.
                     
7.875%, 12/1/2022 (e)
   
3,322,000
           
3,180,750
 
Arconic, Inc.
                     
5.400%, 4/15/2021
   
795,000
           
788,580
 
Bombardier, Inc.
                     
6.000%, 10/15/2022 (b)(h)
   
756,000
           
572,670
 
7.500%, 3/15/2025 (b)(h)
   
1,474,000
           
1,031,800
 
CEC Entertainment, Inc.
                     
8.000%, 2/15/2022
   
2,440,000
           
1,069,784
 
Cincinnati Bell, Inc.
                     
7.000%, 7/15/2024 (h)
   
1,059,000
           
1,073,529
 
Delphi Technologies plc
                     
5.000%, 10/1/2025 (b)(e)(h)
   
2,320,000
           
1,867,600
 
EIG Investors Corporation
                     
10.875%, 2/1/2024
   
1,025,000
           
880,214
 
Genesis Energy LP / Genesis Energy Finance Corporation
                     
6.000%, 5/15/2023
   
3,324,000
           
2,440,132
 
Global A&T Electronics Ltd.
                     
8.500%, 1/12/2023 (b)
   
1,171,000
           
953,066
 
Intel Corporation
                     
2.450%, 11/15/2029
   
185,000
           
188,971
 
Kinetic Concepts, Inc. / KCI USA, Inc.
                     
12.500%, 11/1/2021 (e)(h)
   
3,286,000
           
3,314,588
 
Nielsen Finance LLC / Nielsen Finance Company
                     
5.000%, 4/15/2022 (e)(h)
   
4,022,000
           
3,729,038
 
Refinitiv U.S. Holdings, Inc.
                     
8.250%, 11/15/2026 (h)
   
2,676,000
           
2,829,870
 
Stars Group Holdings BV / Stars Group US Co-Borrower LLC
                     
7.000%, 7/15/2026 (b)(h)
   
390,000
           
368,842
 
T-Mobile USA, Inc.
                     
6.500%, 1/15/2024
   
217,000
           
221,876
 
6.375%, 3/1/2025
   
204,000
           
209,866
 
TOTAL CORPORATE BONDS (Cost $29,537,749)
                 
24,721,176
 
                       
PURCHASED OPTION CONTRACTS - 4.88%
 
Contracts (100
shares per
contract)
   
Notional
Amount
         
PURCHASED CALL OPTIONS - 0.00% (a)
                     
Marathon Petroleum Corporation
                     
Expiration: April 2020, Exercise Price: $50.00
   
658
   
$
1,554,196
     
658
 
                     
658
 
PURCHASED PUT OPTIONS - 4.88% (a)
                       
Apollo Global Management, Inc.
                       
Expiration: April 2020, Exercise Price: $30.00
   
191
     
639,850
     
21,010
 
Bayer AG
                       
Expiration: April 2020, Exercise Price: EUR 46.00 (b)(f)
   
477
     
2,812,139
     
28,409
 
Expiration: April 2020, Exercise Price: EUR 52.00 (b)(f)
   
371
     
2,187,219
     
78,153
 
Expiration: June 2020, Exercise Price: EUR 47.00 (b)(f)
   
275
     
1,621,254
     
95,235
 
BorgWarner, Inc.
                       
Expiration: May 2020, Exercise Price: $20.00
   
407
     
991,859
     
36,630
 
Crown Holdings, Inc.
                       
Expiration: April 2020, Exercise Price: $70.00
   
92
     
533,968
     
110,400
 
Expiration: May 2020, Exercise Price: $48.00
   
462
     
2,681,448
     
78,540
 
DuPont de Nemours, Inc.
                       
Expiration: June 2020, Exercise Price: $37.50
   
189
     
644,490
     
110,092
 
Expiration: June 2020, Exercise Price: $40.00
   
288
     
982,080
     
224,640
 
Eaton Corporation plc
                       
Expiration: April 2020, Exercise Price: $92.50
   
69
     
536,061
     
102,465
 
eBay, Inc.
                       
Expiration: April 2020, Exercise Price: $27.00
   
197
     
592,182
     
6,304
 
Expiration: May 2020, Exercise Price: $26.00
   
1,237
     
3,718,422
     
87,827
 
Expiration: May 2020, Exercise Price: $33.00
   
191
     
574,146
     
73,535
 
Hilton Grand Vacations, Inc.
                       
Expiration: April 2020, Exercise Price: $26.00
   
427
     
673,379
     
452,620
 
Expiration: April 2020, Exercise Price: $29.00
   
907
     
1,430,339
     
1,238,055
 
HP, Inc.
                       
Expiration: April 2020, Exercise Price: $18.00
   
2,057
     
3,570,952
     
308,550
 
Expiration: April 2020, Exercise Price: $20.00
   
533
     
925,288
     
159,367
 
Expiration: May 2020, Exercise Price: $18.00
   
555
     
963,480
     
111,555
 
IAC/InterActiveCorp
                       
Expiration: April 2020, Exercise Price: $170.00
   
53
     
949,919
     
42,400
 
Expiration: April 2020, Exercise Price: $200.00
   
51
     
914,073
     
113,475
 
Industrial Select Sector SPDR Fund
                       
Expiration: April 2020, Exercise Price: $53.00
   
180
     
1,062,180
     
19,260
 
Expiration: April 2020, Exercise Price: $57.00
   
221
     
1,304,121
     
44,200
 
Expiration: May 2020, Exercise Price: $58.00
   
179
     
1,056,279
     
68,915
 
The Madison Square Garden Company Class A
                       
Expiration: May 2020, Exercise Price: $190.00
   
86
     
1,818,126
     
115,240
 
Expiration: May 2020, Exercise Price: $260.00
   
187
     
3,953,367
     
968,660
 
Marathon Petroleum Corporation
                       
Expiration: April 2020, Exercise Price: $25.00
   
339
     
800,718
     
101,700
 
Expiration: April 2020, Exercise Price: $32.50
   
111
     
262,182
     
98,568
 
Expiration: May 2020, Exercise Price: $15.00
   
1,097
     
2,591,114
     
81,178
 
Expiration: June 2020, Exercise Price: $45.00
   
339
     
800,718
     
744,105
 
Masco Corporation
                       
Expiration: April 2020, Exercise Price: $38.00
   
268
     
926,476
     
96,480
 
Expiration: April 2020, Exercise Price: $39.00
   
130
     
449,410
     
60,450
 
Expiration: April 2020, Exercise Price: $41.00
   
1,176
     
4,065,432
     
756,168
 
Materials Select Sector SPDR Fund
                       
Expiration: April 2020, Exercise Price: $42.00
   
358
     
1,612,432
     
42,602
 
MGM Resorts International
                       
Expiration: April 2020, Exercise Price: $27.00
   
377
     
444,860
     
602,258
 
Ra Pharmaceuticals, Inc.
                       
Expiration: April 2020, Exercise Price: $40.00
   
8
     
38,408
     
40
 
SPDR S&P 500 ETF Trust
                       
Expiration: April 2020, Exercise Price: $245.00
   
119
     
3,067,225
     
84,609
 
Expiration: April 2020, Exercise Price: $255.00
   
45
     
1,159,875
     
45,450
 
Expiration: May 2020, Exercise Price: $237.00
   
60
     
1,546,500
     
60,150
 
T-Mobile USA, Inc.
                       
Expiration: May 2020, Exercise Price: $72.50
   
303
     
2,542,170
     
66,963
 
VanEck Vectors Semiconductor ETF
                       
Expiration: April 2020, Exercise Price: $110.00
   
263
     
3,080,782
     
87,579
 
Vodafone Group plc
                       
Expiration: April 2020, Exercise Price: $14.00
   
392
     
539,784
     
22,540
 
Expiration: April 2020, Exercise Price: $17.00
   
1,175
     
1,617,975
     
385,400
 
Expiration: April 2020, Exercise Price: $18.00
   
1,101
     
1,516,077
     
465,723
 
Expiration: May 2020, Exercise Price: $15.00
   
1,101
     
1,516,077
     
201,483
 
Xerox Holdings Corporation
                       
Expiration: May 2020, Exercise Price: $27.00
   
146
     
276,524
     
119,720
 
Expiration: July 2020, Exercise Price: $31.00
   
647
     
1,225,418
     
811,985
 
XPO Logistics, Inc.
                       
Expiration: May 2020, Exercise Price: $40.00
   
239
     
1,165,125
     
62,140
 
Expiration: May 2020, Exercise Price: $70.00
   
83
     
404,625
     
180,940
 
                     
9,873,768
 
TOTAL PURCHASED OPTIONS (Cost $3,313,444)
                   
9,874,426
 
                         
   
Shares
                 
ESCROW NOTES - 7.25% (a)
                       
Altaba, Inc. (e)(f)
   
707,352
             
14,677,554
 
AMR Corporation (d)(g)
   
28,850
             
4,039
 
Sentinel Energy Services, Inc. Class B (d)(g)
   
127,242
             
700
 
TOTAL ESCROW NOTES (Cost $14,484,307)
                   
14,682,293
 
                         
                         
SHORT-TERM INVESTMENTS - 30.96%
                       
MONEY MARKET FUNDS - 9.10% (c)(e)
                       
The Government & Agency Portfolio, Institutional Share Class, 0.44%
   
8,445,943
             
8,445,943
 
JPMorgan U.S. Government Money Market Fund, Institutional Share Class, 0.36%
   
9,975,000
             
9,975,000
 
                     
18,420,943
 
   
Principal
Amount
                 
U.S. TREASURY BILLS - 21.86% (e)(f)(k)
                       
United States Treasury Bills
                       
0.97%, 4/2/2020
 
$
1,867,000
             
1,867,000
 
0.53%, 4/7/2020
   
5,102,000
             
5,101,946
 
0.71%, 4/9/2020
   
4,620,000
             
4,619,956
 
1.55%, 4/16/2020
   
475,000
             
474,988
 
1.54%, 4/23/2020
   
3,360,000
             
3,359,941
 
1.47%, 4/30/2020
   
906,000
             
905,962
 
1.49%, 5/7/2020
   
2,105,000
             
2,104,871
 
1.49%, 5/14/2020
   
575,000
             
574,932
 
1.50%, 5/21/2020
   
2,320,000
             
2,319,725
 
1.49%, 5/28/2020
   
675,000
             
674,890
 
0.18%, 6/18/2020
   
5,875,000
             
5,873,676
 
1.47%, 7/9/2020
   
475,000
             
474,885
 
1.47%, 7/16/2020
   
1,545,000
             
1,544,591
 
1.46%, 7/23/2020
   
5,010,000
             
5,008,486
 
1.46%, 7/30/2020
   
480,000
             
479,832
 
1.40%, 8/20/2020
   
3,020,000
             
3,018,563
 
1.15%, 8/27/2020
   
2,745,000
             
2,743,770
 
0.27%, 9/10/2020
   
3,130,000
             
3,128,218
 
                     
44,276,232
 
TOTAL SHORT-TERM INVESTMENTS (Cost $62,620,574)
                   
62,697,175
 
TOTAL LONG INVESTMENTS (Cost $209,856,054) - 98.68%
                   
199,810,775
 
                         
SHORT INVESTMENTS - (1.79)%
                       
U.S. GOVERNMENT NOTES/BONDS - (1.79)% (f)(k)
                       
1.38%, 1/31/2025
   
(3,284,000
)
           
(3,441,273
)
1.75%, 11/15/2029
   
(176,000
)
           
(193,503
)
TOTAL U.S. GOVERNMENT NOTES/BONDS (Proceeds $3,497,749)
                   
(3,634,776
)
TOTAL SHORT INVESTMENTS (Proceeds $3,497,749) - (1.79)%
                   
(3,634,776
)
TOTAL NET INVESTMENTS (Cost $206,358,305) - 96.89%
                   
196,175,999
 
OTHER ASSETS IN EXCESS OF LIABILITIES - 3.11%
                   
6,300,104
 
TOTAL NET ASSETS - 100.00%
                 
$
202,476,103
 

ADR
 
- American Depository Receipt
         
ETF
 
- Exchange-Traded Fund
         
EUR
 
- Euro
         
LIBOR
 
- London Interbank Offered Rate
         
plc
 
- Public Limited Company
         
REITs
 
- Real Estate Investment Trusts
         
(a)
 
Non-income producing security.
         
(b)
 
Foreign security.
         
(c)
 
The rate quoted is the annualized seven-day yield as of March 31, 2020.
         
(d)
 
Security fair valued by the Valuation Group in good faith in accordance with the policies adopted by the Board of Trustees.
   
(e)
 
All or a portion of the shares have been committed as collateral for open securities sold short, written option contracts, swap contracts, and forward currency exchange contracts.
(f)
 
Level 2 Security. Please see footnote (l) on the Schedule of Investments for more information.
       
(g)
 
Level 3 Security. Please see footnote (l) on the Schedule of Investments for more information.
       
(h)
 
Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration normally to qualified institutional buyers. As of March 31, 2020, these securities represent 8.88% of total net assets.
(i)
 
The coupon rate shown on variable rate securities represents the rate as of March 31, 2020.
         
(j)
 
This security is held in connection with a written option contract.
         
(k)
 
The rate shown represents yield to maturity.
         
(l)
 
Investment Valuation
         
   
The following is a summary of the Fund’s pricing procedures. It is intended to be a general discussion and may not necessarily reflect all pricing procedures followed by the Fund.
               
   
Equity securities, including common and preferred stocks, closed-end funds and ETFs, that trade on an exchange will typically be valued based on the last reported sale price. Securities listed on NASDAQ are typically valued using the NASDAQ Official Closing Price. The securities valued using quoted prices in active markets are classified as Level 1 investments. If, on a particular day, an exchange-listed security does not trade, then the mean between the closing bid and asked prices will typically be used to value the security. These securities are classified as Level 2 investments. Fixed income securities having a maturity of greater than 60 days are  typically valued based on evaluations provided by an independent pricing vendor. Investments in United States government securities (other than short-term  securities) are valued at the mean between the 4:00 p.m. New York time bid and asked prices supplied by a third party vendor. Short-term fixed-income securities having a maturity of less than 60 days are valued at market quotations or based on valuations supplied by a third party pricing service. If a reliable price from a  third party pricing service is unavailable, amortized cost may be used if it is determined that the instrument’s amortized cost value represents approximately the fair value of the security. These securities are classified as Level 2 investments.
               
   
Investments in Special Purpose Acquisition Companies, including their related units, shares, rights and warrants (each a “SPAC interest”), will typically be valued by reference to the last reported transaction for the composite exchange. These securities are classified as Level 1 investments. If, on a particular day, no reliable market transaction is readily available and reported for the composite exchange, then the mean between the closing bid and asked prices on the composite exchange will be used to value the SPAC interest, or the SPAC interest will be fair valued in accordance with the Fund’s pricing procedures. These securities are classified as Level 2 investments.
               
   
Exchange-traded options are typically valued at the higher of the intrinsic value of the option (i.e., what a Fund would pay or can receive upon the option being exercised) or the last reported composite sale price when such sale falls between the bid and asked prices. Notwithstanding the above, options that trade principally on a European exchange are typically valued at the “settlement price” as reported by the exchange on which the option principally trades. If the settlement price for a European exchange-traded option is unreliable or unavailable, the option will generally be valued at the last reported sale price. When the last sale of an exchange-traded option is outside the bid and asked prices, the Fund will typically value the option at the higher of the intrinsic value of the option or the mean between the highest end of day option bid price and the lowest end of day option ask price. On the stipulated expiration date, expiring options will be priced at intrinsic value. Options for which there is an active market are classified as Level 1 investments, but options not listed on an exchange and/or are fair valued in accordance with the Fund’s pricing procedures are classified as Level 2 investments.
               
   
Investments in registered open-end investment companies, including Money Market Funds, are typically valued at their reported net asset value (“NAV”) per share. These securities are generally classified as Level 1 investments.
               
   
Forward currency contracts are valued daily at the prevailing forward exchange rate. These securities are generally classified as Level 2.
               
   
In general, swap prices are determined using the same methods as would be used to price the underlying security. When the underlying security is the subject of a completed corporate reorganization for which the final deal terms are known, the swap is priced at the value of the consideration to be received by the Fund. The credit quality of counterparties and collateral is monitored and the valuation of a swap may be adjusted if it is believed that the credit quality of the counterparty or collateral affects the market value of the swap position. These securities are generally classified as Level 2 investments.

   
The Fund typically fair values securities and assets for which (a) market quotations are not readily available or (b) market quotations are believed to be unrepresentative of market value. For example, the Fund may fair value a security that primarily trades on an exchange that closes before the New York Stock Exchange (“NYSE”) if a significant event occurs after the close of the exchange on which the security primarily trades but before the NYSE closes. Fair valuations are determined in good faith by the Valuation Group (the “Valuation Group”), a committee comprised of persons who are officers of the Trust or representatives of the Adviser, acting pursuant to procedures adopted by the Board. When fair value pricing is employed, the prices of securities used by the Fund to calculate its NAV may differ from quoted or published prices for the same securities. In addition, due to the subjective nature of fair value pricing, it is possible that the value determined for a particular asset may be materially different from the value realized upon such asset’s sale. These securities are generally classified as Level 2 or 3 depending on the inputs as described below.
               
   
The Fund has performed an analysis of all existing investments to determine the significance and character of all inputs to their fair value determination. Various inputs are used in determining the value of the Fund’s investments. These inputs are summarized in the three broad levels listed below:
   
Level 1 — Quoted prices in active markets for identical securities.
         
   
Level 2 — Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
   
Level 3 — Significant unobservable inputs are those inputs that reflect the applicable Fund’s own assumptions that market participants would use to price the asset or liability based on the best available information.
               
   
The inputs or methodology used for valuing securities are not an indication of the risk associated with investing in those securities.
               
   
The following tables provide the fair value measurements of applicable Fund assets and liabilities by level within the fair value hierarchy for the Fund as of March 31, 2020. These assets and liabilities are measured on a recurring basis.

 
Investments at Fair Value
 
Level 1
   
Level 2
   
Level 3
   
Total
 
 
Assets
                       
 
Common Stocks*
 
$
33,898,946
   
$
151,867
   
$
-
   
$
34,050,813
 
 
Special Purpose Acquisition Companies
   
24,571,437
     
3,024,745
     
-
     
27,596,182
 
 
Closed-End Funds
   
5,311,064
     
-
     
-
     
5,311,064
 
 
Preferred Stocks
   
4,618,887
     
-
     
-
     
4,618,887
 
 
Contingent Value Rights
   
-
     
-
     
312,930
     
312,930
 
 
Rights
   
381,836
     
14,335
     
-
     
396,171
 
 
Warrants
   
437,668
     
164,603
     
-
     
602,271
 
 
Bank Loans
   
-
     
11,492,313
     
-
     
11,492,313
 
 
Convertible Bonds
   
-
     
3,455,074
     
-
     
3,455,074
 
 
Corporate Bonds
   
-
     
24,721,176
     
-
     
24,721,176
 
 
Purchased Option Contracts
   
9,672,629
     
201,797
     
-
     
9,874,426
 
 
Escrow Notes
   
-
     
14,677,554
     
4,739
     
14,682,293
 
 
Short-Term Investments
   
18,420,943
     
44,276,232
     
-
     
62,697,175
 
 
Forward Currency Exchange Contracts**
   
-
     
673,014
     
-
     
673,014
 
 
Total
 
$
97,313,410
   
$
102,852,710
   
$
317,669
   
$
200,483,789
 
                                   
 
Liabilities
                               
 
Short U.S. Government Notes/Bonds
 
$
-
   
$
(3,634,776
)
 
$
-
   
$
(3,634,776
)
 
Written Option Contracts
   
(2,464,219
)
   
(381,868
)
   
-
     
(2,846,087
)
 
Swap Contracts**
   
-
     
(19,006,235
)
   
-
     
(19,006,235
)
 
Total
 
$
(2,464,219
)
 
$
(23,022,879
)
 
$
-
   
$
(25,487,098
)
                                   
 
* Please refer to the Schedules of Investments to view long/short common stocks segregated by industry type.
 
 
** Swap contracts and forward currency exchange contracts are valued at the net unrealized appreciation (depreciation) on the instrument by counterparty.
 

   
The Level 2 securities are priced using inputs such as current yields, discount rates, credit quality, yields on comparable securities, trading volume, maturity date, market bid and asked prices, prices on comparable securities and other significant inputs. Level 3 securities are valued by using broker quotes or such other pricing sources or data as are permitted by the Fund’s pricing procedures. At March 31, 2020, the value of these securities was $317,669. The inputs for these securities are not readily available or cannot be reasonably estimated and are generally those inputs as described in footnote (l). The appropriateness of fair values for these securities is monitored by the Valuation Group on an ongoing basis.

   
During the period ended March 31, 2020, the value of securities transferred out of Level 2 and into Level 3 was $313,630. These securities were transferred out of Level 2 and into Level 3 due to decreased market activity and the availability of broker valuations.
               
   
Level 3 Reconciliation Disclosure
         
   
The following is a reconciliation of Level 3 assets for which significant unobservable inputs were used to determine fair value.
   

 
Description
 
Contingent Value Rights
   
Escrow Notes
   
Total Investment
 
 
Balance as of December 31, 2019
 
$
-
   
$
6,636
   
$
6,636
 
 
Purchases on Investments
   
-
     
-
     
-
 
 
(Sales) of Investments
   
-
     
-
     
-
 
 
Realized (Gain) Loss
   
-
     
-
     
-
 
 
Transfers Into Level 3
   
312,930
     
700
     
313,630
 
 
(Transfer Out) of Level 3
   
-
     
-
     
-
 
 
Change in Unrealized Appreciation (Depreciation)
   
-
     
(2,597
)
   
(2,597
)
 
Balance as of March 31, 2020
 
$
312,930
   
$
4,739
   
$
317,669
 
                           
 
Change in unrealized appreciation (depreciation)
    during the period for Level 3 investments held at
    March 31, 2020.
 
$
128,184
   
$
(2,597
)
 
$
125,587
 

The realized and unrealized gains and losses from Level 3 transactions are included with the net realized gain (loss) on investments and net change in unrealized appreciation (depreciation) on investments on the Statement of Operations, respectively. The net change in unrealized depreciation on investments related to Level 3 securities held by the Fund at March 31, 2020 totals $(2,597).
           
The Global Industry Classification Standard (GICS®) was developed by and/or is the exclusive property of MSCI, Inc. and Standard & Poor’s Financial Services LLC (“S&P”). GICS is a service mark of MSCI and S&P and has been licensed for use by U.S. Bancorp Fund Services, LLC, doing business as U.S Bank Global Fund Services.

WCM Alternatives: Event-Driven Fund
         
SCHEDULE OF INVESTMENTS
         
Open Written Options
             
March 31, 2020 (Unaudited)
         
           
 
Contracts (100 shares
per contract)

 
Notional Amount

 
Value
WRITTEN CALL OPTIONS
           
Apollo Global Management, Inc.
             
Expiration: April 2020, Exercise Price: $38.00
(191)

$
                 (639,850)
  $
                    (19,100)
Bayer AG
             
Expiration: June 2020, Exercise Price: EUR 55.00 (a)(b)
(275)
   
(1,621,254)
   
                        (84,923)
BorgWarner, Inc.
             
Expiration: May 2020, Exercise Price: $27.50
(407)
   
(991,859)
   
                        (46,805)
Expiration: May 2020, Exercise Price: $30.00
(302)
   
(735,974)
   
                        (17,365)
Crown Holdings, Inc.
             
Expiration: May 2020, Exercise Price: $52.50
(462)
   
(2,681,448)
   
                      (371,910)
DuPont de Nemours, Inc.
             
Expiration: June 2020, Exercise Price: $45.00
(477)
   
(1,626,570)
   
                        (39,114)
Eaton Corporation plc
             
Expiration: April 2020, Exercise Price: $100.00
(69)
   
(536,061)
   
                             (690)
eBay, Inc.
             
Expiration: April 2020, Exercise Price: $33.00
(197)
   
(592,182)
   
                          (8,077)
Expiration: May 2020, Exercise Price: $29.00
(846)
   
(2,543,076)
   
                      (229,689)
Expiration: May 2020, Exercise Price: $30.00
(391)
   
(1,175,346)
   
                        (84,065)
Expiration: May 2020, Exercise Price: $36.00
(191)
   
(574,146)
   
                          (5,730)
Fitbit, Inc. Class A
             
Expiration: May 2020, Exercise Price: $8.00
(22)
   
(14,652)
   
                               (44)
Hilton Grand Vacations, Inc.
             
Expiration: April 2020, Exercise Price: $30.00
(427)
   
(673,379)
   
                          (1,067)
Expiration: April 2020, Exercise Price: $34.00
(907)
   
(1,430,339)
   
                          (2,268)
HP, Inc.
             
Expiration: April 2020, Exercise Price: $21.00
(1,743)
   
(3,025,848)
   
                        (43,575)
Expiration: April 2020, Exercise Price: $22.00
(820)
   
(1,423,520)
   
                        (13,530)
Expiration: April 2020, Exercise Price: $23.00
(28)
   
(48,608)
   
                             (182)
Expiration: May 2020, Exercise Price: $20.00
(555)
   
(963,480)
   
                        (37,185)
IAC/InterActiveCorp
             
Expiration: April 2020, Exercise Price: $180.00
(27)
   
(483,921)
   
                        (34,560)
Expiration: April 2020, Exercise Price: $185.00
(26)
   
(465,998)
   
                        (21,580)
Expiration: April 2020, Exercise Price: $220.00
(51)
   
(914,073)
   
                          (4,462)
Industrial Select Sector SPDR Fund
             
Expiration: April 2020, Exercise Price: $60.00
(90)
   
(531,090)
   
                        (20,340)
Legg Mason, Inc.
             
Expiration: May 2020, Exercise Price: $50.00
(1)
   
(4,885)
   
                               (30)
The Madison Square Garden Company Class A
             
Expiration: May 2020, Exercise Price: $230.00
(86)
   
(1,818,126)
   
                      (102,770)
Expiration: May 2020, Exercise Price: $290.00
(187)
   
(3,953,367)
   
                        (30,388)
Marathon Petroleum Corporation
             
Expiration: April 2020, Exercise Price: $32.50
(339)
   
(800,718)
   
                          (3,390)
Expiration: April 2020, Exercise Price: $37.50
(111)
   
(262,182)
   
                             (555)
Expiration: April 2020, Exercise Price: $55.00
(578)
   
(1,365,236)
   
                             (578)
Expiration: April 2020, Exercise Price: $57.50
(80)
   
(188,960)
   
                             (360)
Expiration: May 2020, Exercise Price: $20.00
(1,097)
   
(2,591,114)
   
                      (597,865)
Expiration: June 2020, Exercise Price: $52.50
(339)
   
(800,718)
   
                          (2,373)
Masco Corporation
             
Expiration: April 2020, Exercise Price: $42.00
(268)
   
(926,476)
   
                          (3,350)
Expiration: April 2020, Exercise Price: $46.00
(1,116)
   
(3,858,012)
   
                        (11,160)
Mellanox Technologies Ltd.
             
Expiration: June 2020, Exercise Price: $125.00
(46)
   
(558,072)
   
                          (2,300)
MGM Resorts International
             
Expiration: April 2020, Exercise Price: $30.00
(377)
   
(444,860)
   
                             (188)
SPDR S&P 500 ETF Trust
             
Expiration: April 2020, Exercise Price: $265.00
(29)
   
(747,475)
   
                        (17,371)
Expiration: April 2020, Exercise Price: $270.00
(60)
   
(1,546,500)
   
                        (23,340)
Expiration: April 2020, Exercise Price: $275.00
(45)
   
(1,159,875)
   
                        (10,260)

T-Mobile USA, Inc.
             
Expiration: April 2020, Exercise Price: $80.00
(105)
   
(880,950)
   
                        (56,963)
Expiration: April 2020, Exercise Price: $85.00
(150)
   
(1,258,500)
   
                        (43,500)
Expiration: April 2020, Exercise Price: $90.00
(247)
   
(2,072,330)
   
                        (25,441)
Expiration: May 2020, Exercise Price: $82.50
(293)
   
(2,458,270)
   
                      (184,590)
VanEck Vectors Semiconductor ETF
             
Expiration: April 2020, Exercise Price: $125.00
(80)
   
(937,120)
   
                        (17,000)
Xerox Holdings Corporation
             
Expiration: May 2020, Exercise Price: $30.00
(146)
   
(276,524)
   
                             (730)
Expiration: July 2020, Exercise Price: $35.00
(647)
   
(1,225,418)
   
                        (35,909)
XPO Logistics, Inc.
             
Expiration: May 2020, Exercise Price: $45.00
(239)
   
(1,165,125)
   
                      (198,370)
Expiration: May 2020, Exercise Price: $77.50
(83)
   
(404,625)
   
                             (581)
             
                    (2,455,623)
 WRITTEN PUT OPTIONS
           
Bayer AG
             
Expiration: April 2020, Exercise Price: EUR 50.00 (a)(b)
(477)
   
(2,812,139)
   
                        (65,760)
Expiration: April 2020, Exercise Price: EUR 58.00 (a)(b)
(371)
   
(2,187,219)
   
                      (231,185)
Fitbit, Inc. Class A
             
Expiration: May 2020, Exercise Price: $6.00
(3)
   
(1,998)
   
                               (33)
Industrial Select Sector SPDR Fund
             
Expiration: April 2020, Exercise Price: $45.00
(120)
   
(708,120)
   
                          (3,240)
Expiration: April 2020, Exercise Price: $50.00
(221)
   
(1,304,121)
   
                        (15,691)
Expiration: May 2020, Exercise Price: $45.00
(179)
   
(1,056,279)
   
                        (15,931)
Materials Select Sector SPDR Fund
             
Expiration: April 2020, Exercise Price: $33.00
(283)
   
(1,274,632)
   
                          (4,669)
SPDR S&P 500 ETF Trust
             
Expiration: April 2020, Exercise Price: $190.00
(225)
   
(5,799,375)
   
                        (18,450)
VanEck Vectors Semiconductor ETF
             
Expiration: April 2020, Exercise Price: $100.00
(263)
   
(3,080,782)
   
                        (35,505)
             
                       (390,464)
TOTAL WRITTEN OPTIONS
           
 
(Premiums received $6,958,243)
          $
                 (2,846,087)
 

ETF - Exchange-Traded Fund
             
EUR - Euro
             
plc - Public Limited Company
             
(a) Foreign Security.
(b) Level 2 Security. Please see footnote (l) on the Schedule of Investments for more information.

WCM Alternatives: Event-Driven Fund
                 
SCHEDULE OF INVESTMENTS
                   
Forward Currency Exchange Contracts
                   
March 31, 2020 (Unaudited)
                   
                           
Unrealized
Settlement
           
USD Value at
       
USD Value at
 
Appreciation
Date
 
Counterparty
 
Currency to be Delivered
 
March 31, 2020
 
Currency to be Received
 
March 31, 2020
 
(Depreciation)*
7/7/2020
 
JPM
 
3,020,793
AUD
 
 $                                  1,858,468
 
1,985,394
USD
 
 $                                  1,985,394
 
$                                                        126,926
3/17/2021
 
JPM
 
8,340,265
EUR
 
9,303,651
 
9,423,247
USD
 
9,423,247
 
119,596
3/17/2021
 
JPM
 
14,609
USD
 
14,609
 
13,453
EUR
 
15,007
 
398
4/22/2020
 
JPM
 
3,638,645
EUR
 
4,016,562
 
4,087,025
USD
 
4,087,025
 
70,463
4/22/2020
 
JPM
 
2,680,358
USD
 
2,680,358
 
2,424,917
EUR
 
2,676,774
 
(3,584)
4/23/2020
 
JPM
 
1,322,725
EUR
 
1,460,171
 
1,422,005
USD
 
1,422,005
 
(38,166)
4/27/2020
 
GS
 
148,625
EUR
 
164,098
 
166,408
USD
 
166,408
 
2,310
4/27/2020
 
JPM
 
8,866,149
EUR
 
9,789,203
 
9,925,388
USD
 
9,925,388
 
136,185
4/29/2020
 
JPM
 
1,406,000
EUR
 
1,552,518
 
1,556,976
USD
 
1,556,976
 
4,458
4/29/2020
 
JPM
 
363,584
USD
 
363,584
 
330,624
EUR
 
365,078
 
1,494
5/6/2020
 
JPM
 
203,344
EUR
 
224,595
 
220,661
USD
 
220,661
 
(3,934)
5/20/2020
 
GS
 
118,388
EUR
 
130,829
 
133,277
USD
 
133,277
 
2,448
5/20/2020
 
JPM
 
995,297
EUR
 
1,099,887
 
1,109,634
USD
 
1,109,634
 
9,747
6/15/2020
 
GS
 
2,558,880
EUR
 
2,830,488
 
2,854,714
USD
 
2,854,714
 
24,226
7/8/2020
 
JPM
 
1,474,911
EUR
 
1,632,724
 
1,633,367
USD
 
1,633,367
 
643
5/7/2020
 
JPM
 
38,765,713
HKD
 
4,999,504
 
4,971,816
USD
 
4,971,816
 
(27,688)
5/7/2020
 
JPM
 
4,982,740
USD
 
4,982,740
 
38,765,713
HKD
 
4,999,503
 
16,763
5/11/2020
 
JPM
 
382,910,260
JPY
 
3,568,265
 
3,573,697
USD
 
3,573,697
 
5,432
5/12/2020
 
JPM
 
94,449,600
JPY
 
880,187
 
875,727
USD
 
875,727
 
(4,460)
5/12/2020
 
JPM
 
451,844
USD
 
451,844
 
49,392,000
JPY
 
460,290
 
8,446
6/22/2020
 
JPM
 
223,668,900
JPY
 
2,087,563
 
2,085,102
USD
 
2,085,102
 
(2,461)
6/26/2020
 
JPM
 
117,237,942
JPY
 
1,094,385
 
1,066,701
USD
 
1,066,701
 
(27,684)
6/4/2020
 
JPM
 
3,692,332
NZD
 
2,202,082
 
2,390,231
USD
 
2,390,231
 
188,149
4/9/2020
 
GS
 
13,018,143
SEK
 
1,316,240
 
1,379,547
USD
 
1,379,547
 
63,307
             
$                              58,704,555
       
$                              59,377,569
 
$                                                        673,014
                             
AUD
- Australian Dollar
                   
EUR
- Euro
                       
GS
- Goldman, Sachs & Co.
                   
HKD
- Hong Kong Dollar
                   
JPM
- JPMorgan Chase & Co., Inc.
                 
JPY
- Japanese Yen
                   
NZD
- New Zealand Dollar
                   
SEK
- Swedish Krona
                   
USD
- U.S. Dollar
                       
*
Net unrealized appreciation (depreciation) is a receiveable (payable).
       
 
                           

WCM Alternatives: Event-Driven Fund
                 
SCHEDULE OF INVESTMENTS
                 
Open Swap Contracts
                   
March 31, 2020 (Unaudited)
                   
                   
Unrealized
 



Pay/Receive on
Financing
Payment

Notional

 
Appreciation
 
Counterparty
Security
Termination Date
Financing Rate
Rate
Frequency
Shares
 Amount

 
(Depreciation)*
 
LONG TOTAL RETURN SWAP CONTRACTS
                 
GS
Advanced Disposal Services, Inc.
3/18/2021
Pay
0.500% +1 Month U.S. LIBOR
Monthly
62,030
$          1,924,702
   $
                            109,141
 
BAML
Allergan plc
1/27/2021
Pay
0.750% +1 Month U.S. LIBOR
Monthly
89,413
           16,775,868
   
                              (975,194)
 
BAML
Altran Technologies S.A.
3/27/2021
Pay
0.350% +1 Month U.S. LIBOR
Monthly
83,647
             1,346,717
   
                                  27,823
 
JPM
Axalta Coating Systems Ltd.
10/28/2020
Pay
0.300% +3 Month U.S. LIBOR
Quarterly
13,755
                409,486
   
                              (172,128)
 
JPM
Bayer AG
1/27/2021
Pay
0.400% +3 Month U.S. LIBOR
Quarterly
27,500
             2,237,505
   
                              (635,775)
 
JPM
BlackRock MuniYield Quality Fund III, Inc.
3/11/2021
Pay
0.300% +3 Month U.S. LIBOR
Quarterly
85,655
             1,031,835
   
                                  62,442
 
GS
Bolsas y Mercados Espanoles
11/19/2020
Pay
0.500% +1 Month U.S. LIBOR
Monthly
19,267
                753,609
   
                                (51,438)
 
JPM
Bolsas y Mercados Espanoles
12/20/2020
Pay
0.400% +3 Month U.S. LIBOR
Quarterly
13,700
                524,553
   
                                (25,306)
 
BAML
Bristol-Myers Squibb Company
11/21/2020
Pay
0.000% (1)
Monthly
25,034
                          -
(1)
 
                                  95,129
 
GS
Broadmark Realty Capital, Inc.
1/29/2021
Pay
0.600% +1 Month U.S. LIBOR
Monthly
97,084
             1,229,947
   
                              (500,468)
 
GS
Caesars Entertainment Corporation
1/29/2021
Pay
0.500% +1 Month U.S. LIBOR
Monthly
468,262
             6,077,215
   
                           (2,914,497)
 
JPM
Caltex Australia Ltd.
2/25/2021
Pay
0.400% +3 Month U.S. LIBOR
Quarterly
84,262
             1,877,724
   
                              (721,885)
 
GS
CF Finance Acquisition Corporation Class A
1/29/2021
Pay
1.100% +1 Month U.S. LIBOR
Monthly
108,500
             1,130,548
   
                                (14,819)
 
GS
Craft Brew Alliance, Inc.
2/28/2021
Pay
0.500% +1 Month U.S. LIBOR
Monthly
154,271
             2,363,843
   
                                (66,316)
 
GS
Crown Holdings, Inc.
3/17/2021
Pay
0.500% +1 Month U.S. LIBOR
Monthly
55,400
             2,788,282
   
                                426,011
 
BAML
Cypress Semiconductor Corporation
8/26/2020
Pay
0.750% +1 Month U.S. LIBOR
Monthly
456,201
           10,365,652
   
                                251,029
 
GS
Delphi Technologies plc
2/27/2021
Pay
0.500% +1 Month U.S. LIBOR
Monthly
300,000
             4,056,000
   
                           (1,642,078)
 
BAML
Dupont De Nemours, Inc.
4/2/2020
Pay
0.400% +1 Month U.S. LIBOR
Monthly
2,280
                181,917
   
                              (104,520)
 
JPM
Dupont De Nemours, Inc.
2/25/2021
Pay
0.300% +3 Month U.S. LIBOR
Quarterly
45,453
             2,157,654
   
                              (608,758)
 
GS
E*TRADE Financial Corporation
2/28/2021
Pay
0.500% +1 Month U.S. LIBOR
Monthly
106,668
             4,149,841
   
                              (490,596)
 
GS
eBay, Inc.
3/18/2021
Pay
0.500% +1 Month U.S. LIBOR
Monthly
77,900
             2,438,270
   
                                (97,578)
 
BAML
Faurecia S.E.
11/14/2020
Pay
0.417% +1 Month U.S. LIBOR
Monthly
6,795
                335,612
   
                              (131,642)
 
BAML
Fiat Chrysler Automobiles N.V.
11/14/2020
Pay
0.417% +1 Month U.S. LIBOR
Monthly
164,925
             2,303,134
   
                           (1,111,851)
 
JPM
First Trust Senior Floating Rate Income Fund II
12/6/2020
Pay
0.800% +3 Month U.S. LIBOR
Quarterly
12,108
                147,287
   
                                (32,246)
 
BAML
Fitbit, Inc. Class A
2/18/2021
Pay
0.750% +1 Month U.S. LIBOR
Monthly
218,755
             1,406,470
   
                                  47,270
 
GS
GrandVision N.V.
1/7/2021
Pay
0.500% +1 Month U.S. LIBOR
Monthly
90,038
             2,705,570
   
                              (229,957)
 
JPM
Hilton Grand Vacations, Inc.
10/11/2020
Pay
0.300% +3 Month U.S. LIBOR
Quarterly
133,420
             4,441,100
   
                           (2,339,257)
 
BAML
Hitachi Chemical Company Ltd.
12/23/2020
Pay
0.500% +1 Month U.S. LIBOR
Monthly
15,213
                636,579
   
                                  12,625
 
JPM
Hitachi Chemical Company Ltd.
12/30/2020
Pay
0.400% +3 Month U.S. LIBOR
Quarterly
67,489
             2,872,280
   
                                    7,166
 
GS
HP, Inc.
3/17/2021
Pay
0.500% +1 Month U.S. LIBOR
Monthly
314,500
             4,528,800
   
                                929,096
 
JPM
IAC/InterActiveCorp
10/21/2020
Pay
0.300% +3 Month U.S. LIBOR
Quarterly
6,300
             1,419,957
   
                              (291,510)
 
JPM
Innogy S.E.
6/6/2020
Pay
0.400% +3 Month U.S. LIBOR
Quarterly
34,699
             1,650,732
   
                                  (1,822)
 
GS
Invesco Municipal Opportunity Trust
3/11/2021
Pay
0.500% +1 Month U.S. LIBOR
Monthly
47,566
                548,640
   
                                  (4,252)
 
JPM
Keihin Corporation
4/2/2021
Pay
0.400% +3 Month U.S. LIBOR
Quarterly
28,768
                676,947
   
                                  (1,391)
 
GS
Legg Mason, Inc.
3/9/2021
Pay
0.500% +1 Month U.S. LIBOR
Monthly
80,495
             3,848,167
   
                                  82,470
 
JPM
Liberty Media Corporation - Liberty SiriusXM Class C
12/17/2020
Pay
0.300% +3 Month U.S. LIBOR
Quarterly
11,359
                535,479
   
                              (176,572)
 
JPM
Line Corporation
11/20/2020
Pay
0.400% +3 Month U.S. LIBOR
Quarterly
22,140
             1,052,050
   
                                  20,151
 
GS
LogMeIn, Inc.
3/19/2021
Pay
0.500% +1 Month U.S. LIBOR
Monthly
41,200
             3,247,742
   
                                184,127
 
JPM
The Madison Square Garden Company Class A
10/31/2020
Pay
0.300% +3 Month U.S. LIBOR
Quarterly
27,300
             6,598,426
   
                              (830,111)
 
GS
Masco Corporation
3/9/2021
Pay
0.500% +1 Month U.S. LIBOR
Monthly
157,400
             6,247,068
   
                              (810,147)
 
JPM
Mellanox Technologies Ltd.
5/14/2020
Pay
0.300% +3 Month U.S. LIBOR
Quarterly
28,335
             3,320,371
   
                                115,589
 
JPM
Metlifecare Ltd.
1/21/2021
Pay
0.400% +3 Month U.S. LIBOR
Quarterly
527,476
             2,345,897
   
                           (1,151,060)
 
JPM
Nissin Kogyo Company Ltd.
4/2/2021
Pay
0.400% +3 Month U.S. LIBOR
Quarterly
33,074
                678,679
   
                                     (743)
 
JPM
Nuveen AMT-Free Municipal Credit Income Fund
3/11/2021
Pay
0.300% +3 Month U.S. LIBOR
Quarterly
38,528
                563,661
   
                                    1,686
 
JPM
Nuveen AMT-Free Quality Municipal Income Fund
3/11/2021
Pay
0.300% +3 Month U.S. LIBOR
Quarterly
160,868
             2,066,897
   
                                110,565
 
JPM
Nuveen California Quality Municipal Income Fund
3/11/2021
Pay
0.300% +3 Month U.S. LIBOR
Quarterly
40,893
                562,615
   
                                  (3,043)
 
JPM
Nuveen Intermediate Duration Municipal Term Fund
3/11/2021
Pay
0.300% +3 Month U.S. LIBOR
Quarterly
44,435
                563,154
   
                                  13,809
 
JPM
Nuveen Municipal Credit Income Fund
3/11/2021
Pay
0.300% +3 Month U.S. LIBOR
Quarterly
39,155
                559,802
   
                                  (9,148)
 
JPM
Nuveen New York AMT-Free Quality Municipal Income Fund
3/11/2021
Pay
0.300% +3 Month U.S. LIBOR
Quarterly
85,021
             1,033,486
   
                                  28,809
 
GS
Nuveen New York Quality Municipal Income Fund
3/11/2021
Pay
0.500% +1 Month U.S. LIBOR
Monthly
40,575
                545,799
   
                                     (710)
 
JPM
Osram Licht AG
12/6/2020
Pay
0.400% +3 Month U.S. LIBOR
Quarterly
174,568
             7,660,557
   
                                103,946
 
BAML
Osram Licht AG
12/16/2020
Pay
0.350% +1 Month U.S. LIBOR
Monthly
8,364
                378,460
   
                                  (7,254)
 
GS
Osram Licht AG
12/17/2020
Pay
0.500% +1 Month U.S. LIBOR
Monthly
37,366
             1,691,619
   
                                (29,519)
 
GS
Pure Acquisition Corporation
1/29/2021
Pay
1.100% +1 Month U.S. LIBOR
Monthly
57,469
                599,775
   
                                  (3,061)
 
JPM
Qiagen N.V.
3/3/2021
Pay
0.400% +3 Month U.S. LIBOR
Quarterly
204,376
             8,454,168
   
                                  43,935
 
GS
Ra Pharmaceuticals, Inc.
2/11/2021
Pay
0.500% +1 Month U.S. LIBOR
Monthly
69,513
             3,225,132
   
                                110,331
 
JPM
Renault S.A.
4/3/2020
Pay
0.400% +3 Month U.S. LIBOR
Quarterly
25,418
             1,502,409
   
                           (1,006,801)
 
BAML
Renault S.A.
5/29/2020
Pay
0.350% +1 Month U.S. LIBOR
Monthly
3,000
                179,398
   
                              (121,144)
 
JPM
RIB Software S.E.
2/24/2021
Pay
0.400% +3 Month U.S. LIBOR
Quarterly
50,859
             1,607,048
   
                                  (5,896)
 
JPM
Royal Dutch Shell plc Class B - ADR
3/6/2021
Pay
0.300% +3 Month U.S. LIBOR
Quarterly
40,950
             1,636,352
   
                              (299,347)
 
JPM
SHOWA Corporation
4/2/2021
Pay
0.400% +3 Month U.S. LIBOR
Quarterly
32,372
                677,128
   
                                       870
 
JPM
SLM Corporation, 4.311%, Series B
2/10/2021
Pay
1.100% +3 Month U.S. LIBOR
Quarterly
35,769
             2,074,602
   
                              (880,240)
 
GS
Sprint Corporation
3/9/2021
Pay
0.500% +1 Month U.S. LIBOR
Monthly
749,057
             6,037,399
   
                                417,075
 
GS
The Stars Group, Inc.
2/24/2021
Pay
0.500% +1 Month U.S. LIBOR
Monthly
314,085
             7,823,857
   
                           (1,567,295)
 
GS
Swedol AB
1/17/2021
Pay
0.500% +1 Month U.S. LIBOR
Monthly
279,962
             1,352,565
   
                                (37,999)
 
JPM
Tallgrass Energy LP Class A
9/26/2020
Pay
0.300% +3 Month U.S. LIBOR
Quarterly
13,740
                284,449
   
                                (58,429)
 
GS
Tallgrass Energy LP Class A
11/13/2020
Pay
0.500% +1 Month U.S. LIBOR
Monthly
149,016
             3,101,037
   
                              (649,905)
 
JPM
Taubman Centers, Inc.
2/28/2021
Pay
0.300% +3 Month U.S. LIBOR
Quarterly
110,209
             5,528,719
   
                              (915,766)
 
GS
TD Ameritrade Holdings Corporation
2/12/2021
Pay
0.500% +1 Month U.S. LIBOR
Monthly
196,061
             8,956,838
   
                           (2,166,961)
 
BAML
Tech Data Corporation
2/27/2021
Pay
0.750% +1 Month U.S. LIBOR
Monthly
44,199
             5,876,795
   
                                (99,046)
 
GS
Tiffany & Company
2/28/2021
Pay
0.500% +1 Month U.S. LIBOR
Monthly
69,931
             9,289,557
   
                              (238,610)
 
GS
United Technologies Corporation
2/24/2021
Pay
0.500% +1 Month U.S. LIBOR
Monthly
50,000
             7,329,000
   
                           (2,614,632)
 
JPM
Unizo Holdings Company Ltd.
11/12/2020
Pay
0.400% +3 Month U.S. LIBOR
Quarterly
8,046
                368,178
   
                                  78,353
 
GS
Vodafone Group plc - ADR
2/20/2021
Pay
0.500% +1 Month U.S. LIBOR
Monthly
362,100
             7,242,000
   
                           (2,259,002)
 
GS
WABCO Holdings, Inc.
1/27/2021
Pay
0.500% +1 Month U.S. LIBOR
Monthly
40,931
      &#