North Square Dynamic Small Cap Fund
SCHEDULE OF INVESTMENTS
February 28, 2023 (Unaudited)
Number of Shares				Value
			COMMON STOCKS - 94.3%
			COMMUNICATION SERVICES - 3.8%
			Diversified Telecommunication Services - 1.6%
	1,970		Cogent Communications Holdings, Inc.	$	127,538
	1,530		IDT Corp. - Class B*		46,527
	43,620		Liberty Global plc - Class A*1		893,774
	6,870		Ooma, Inc.*		89,928
					1,157,767
			Entertainment - 0.3%
	1,280		Madison Square Garden Sports Corp.		244,659
			Interactive Media & Services - 0.4%
	14,360		ZipRecruiter, Inc. - Class A*		244,982
			Media - 0.9%
	5,010		Gray Television, Inc.		58,617
	15,600		The New York Times Company - Class A		600,600
					659,217
			Wireless Telecommunication Services - 0.6%
	24,790		Gogo Inc.*		408,043
			TOTAL COMMUNICATION SERVICES		2,714,668
			CONSUMER DISCRETIONARY - 11.8%
			Auto Components - 1.9%
	4,110		Fox Factory Holding Corp.*		482,925
	13,340		Modine Manufacturing Co.*		325,629
	8,550		XPEL, Inc.*		571,226
					1,379,780
			Diversified Consumer Services - 0.2%
	17,640		ADT, Inc.		133,005
	50		Graham Holdings Co. - Class B		31,333
					164,338
			Hotels, Restaurants & Leisure - 3.2%
	4,160		Inspired Entertainment, Inc.*		65,770
	10,350		International Game Technology Plc1		274,896
	5,930		SeaWorld Entertainment Inc.*		383,078
	23,030		Target Hospitality Corp.*		341,535
	6,700		Travel + Leisure Co.		281,065
	4,890		Wingstop, Inc.		833,011
	3,830		Xponential Fitness, Inc. - Class A*		97,244
					2,276,599
			Household Durables - 2.4%
	1,310		M/I Homes, Inc.*		75,770
	3,670		Meritage Homes Corp.*		400,874
	3,100		Skyline Champion Corp.*		212,071
	40,470		Tri Pointe Homes, Inc.*		964,805
	6,160		Vizio Holding Corp. - Class A*		63,140
					1,716,660
			Leisure Products - 0.6%
	10,740		YETI Holdings, Inc.*		418,645
			Multiline Retail - 0.1%
	240		Dillard’s, Inc. - Class A		85,538
			Specialty Retail - 2.1%
	26,410		The Aaron’s Company, Inc.		378,984
	5,860		Arhaus, Inc.*		85,029
	10,740		Destination XL Group, Inc.*		64,225
	4,070		Murphy USA, Inc.		1,038,216
					1,566,454
			Textiles, Apparel & Luxury Goods - 1.3%
	2,234		Deckers Outdoor Corp.*		930,126
			TOTAL CONSUMER DISCRETIONARY		8,538,140
			CONSUMER STAPLES - 5.1%
			Beverages - 0.1%
	4,200		The Vita Coco Company, Inc.*		71,022
			Food Products - 1.9%
	9,170		Cal-Maine Foods, Inc.		520,856
	2,230		John B Sanfilippo & Son, Inc.		200,187
	44,813		SunOpta Inc.*1		344,164
	17,070		Vital Farms, Inc.*		275,851
					1,341,058
			Personal Products - 2.9%
	14,553		e.l.f. Beauty, Inc.*		1,087,837
	7,290		Inter Parfums, Inc.		877,789
	870		Medifast, Inc.		97,553
					2,063,179
			Tobacco - 0.2%
	6,970		Turning Point Brands, Inc.		166,583
			TOTAL CONSUMER STAPLES		3,641,842
			ENERGY - 6.9%
			Energy Equipment & Services - 2.6%
	62,810		Liberty Energy Inc.		957,853
	26,360		RPC, Inc.		231,177
	32,890		Select Energy Services, Inc. - Class A		244,044
	20,840		Solaris Oilfield Infrastructure, Inc. - Class A		186,101
	18,660		US Silica Holdings, Inc.*		226,532
					1,845,707
			Oil, Gas & Consumable Fuels - 4.3%
	22,910		Ardmore Shipping Corp.*1		415,816
	13,110		DHT Holdings, Inc.1		151,683
	169,120		Gran Tierra Energy, Inc.*		141,097
	1,090		International Seaways, Inc.1		56,070
	9,760		Par Pacific Holdings, Inc.*		271,133
	9,070		PBF Energy Inc. - Class A		396,450
	10,150		PDC Energy, Inc.		681,166
	6,400		Scorpio Tankers Inc.1		386,304
	11,850		Teekay Corp.*1		73,944
	10,560		Teekay Tankers Ltd. - Class A*1		476,784
	11,172		W&T Offshore, Inc.*		62,675
					3,113,122
			TOTAL ENERGY		4,958,829
			FINANCIALS - 13.7%
			Banks - 7.8%
	13,430		Amalgamated Financial Corp.		316,276
	2,650		The Bancorp, Inc.*		91,663
	5,820		The Bank of NT Butterfield & Son Ltd.1		210,393
	1,820		Central Pacific Financial Corp.		40,823
	1,850		Coastal Financial Corporation of Washington*		85,378
	8,345		Customers Bancorp, Inc.*		257,026
	10,450		East West Bancorp, Inc.		796,395
	17,710		First BanCorp.1		256,972
	15,028		Hanmi Financial Corp.		354,961
	4,810		Lakeland Financial Corp.		344,492
	3,790		Live Oak Bancshares, Inc.		130,982
	1,210		Metropolitan Bank Holding Corp.*		67,530
	6,070		Midland States Bancorp, Inc.		158,063
	22,840		OFG Bancorp1		694,793
	2,260		PCB Bancorp		41,268
	4,490		Popular, Inc.1		320,586
	11,360		Synovus Financial Corp.		474,962
	1,330		Unity Bancorp, Inc.		35,125
	1,350		Univest Financial Corp.		38,070
	11,710		Western Alliance Bancorp		869,350
					5,585,108
			Capital Markets - 2.8%
	87,240		BGC Partners, Inc. - Class A		423,986
	4,860		Interactive Brokers Group, Inc. - Class A		418,495
	1,920		MarketAxess Holdings, Inc.		655,584
	14,090		Perella Weinberg Partners		142,450
	2,280		StoneX Group Inc.*		229,892
	8,900		Virtu Financial, Inc. - Class A		163,582
					2,033,989
			Insurance - 2.8%
	15,520		Ambac Financial Group, Inc.*		256,856
	4,010		American Equity Investment Life Holding Co.		167,016
	22,575		CNO Financial Group, Inc.		578,372
	17,000		James River Group Holdings Ltd.1		409,700
	13,320		Lincoln National Corp.		422,510
	2,770		Palomar Holdings, Inc.*		166,200
	16,440		Selectquote, Inc.*		38,470
					2,039,124
			Thrifts & Mortgage Finance - 0.3%
	1,190		Axos Financial, Inc.*		56,394
	1,820		Mr Cooper Group, Inc.*		84,503
	930		TrustCo Bank Corp NY		34,838
					175,735
			TOTAL FINANCIALS		9,833,956
			HEALTH  CARE - 17.5%
			Health Care Providers & Services - 0.2%
	6,020		Privia Health Group, Inc.*		168,139
			Biotechnology - 6.9%
	14,180		ACADIA Pharmaceuticals Inc.*		293,384
	19,870		Alkermes Plc*1		531,324
	14,790		Allakos, Inc.*		88,000
	40,880		Amicus Therapeutics, Inc.*		539,207
	550		Ascendis Pharma A/S - ADR*1		61,100
	20,650		Chinook Therapeutics, Inc.*		450,583
	34,030		Cogent Biosciences, Inc.*		450,217
	5,600		Day One Biopharmaceuticals, Inc.*		103,152
	18,960		Dyne Therapeutics, Inc.*		244,205
	28,170		Iovance Biotherapeutics, Inc.*		205,359
	25,050		IVERIC bio, Inc.*		520,539
	11,240		Merus N.V.*1		214,347
	1,380		Mirati Therapeutics, Inc.*		63,259
	5,920		Morphic Holding, Inc.*		251,718
	13,540		Protagonist Therapeutics, Inc.*		219,619
	2,540		RAPT Therapeutics, Inc.*		74,803
	2,270		Sarepta Therapeutics, Inc.*		277,235
	11,650		Syndax Pharmaceuticals, Inc.*		295,328
	3,430		Viridian Therapeutics, Inc.*		112,367
					4,995,746
			Health Care Equipment & Supplies - 3.0%
	8,770		Figs, Inc. - Class A*		80,772
	12,100		Lantheus Holdings, Inc.*		894,916
	3,310		Merit Medical Systems, Inc.*		233,620
	37,090		OraSure Technologies, Inc.*		234,038
	2,190		Shockwave Medical, Inc.*		416,625
	4,720		Tactile Systems Technology, Inc.*		68,204
	2,099		Tandem Diabetes Care, Inc.*		75,270
	11,620		Zynex Inc.*		150,130
					2,153,575
			Health Care Providers & Services - 3.3%
	12,130		Accolade, Inc.*		134,764
	4,960		AMN Healthcare Services, Inc.*		446,450
	4,087		CorVel Corp.*		736,804
	23,451		PetIQ, Inc.*		218,563
	23,090		Progyny, Inc.*		867,261
					2,403,842
			Health Care Technology - 0.5%
	41,350		GoodRx Holdings, Inc. - Class A*		218,741
	3,310		Phreesia, Inc.*		121,808
					340,549
			Life Sciences Tools & Services - 3.0%
	24,550		Adaptive Biotechnologies Corp.*		209,903
	9,810		Bruker Corp.		676,105
	29,087		Codexis, Inc.*		140,636
	8,050		Cytek Biosciences, Inc.*		82,915
	5,222		Medpace Holdings, Inc.*		1,012,441
					2,122,000
			Pharmaceuticals - 0.6%
	38,190		Amneal Pharmaceuticals, Inc.*		78,671
	15,550		Corcept Therapeutics Inc.*		323,907
					402,578
			TOTAL HEALTH CARE		12,586,429
			INDUSTRIALS - 12.7%
			Aerospace & Defense - 0.6%
	32,760		Triumph Group, Inc.*		413,431
			Airlines - 0.1%
	3,655		Spirit Airlines, Inc.		66,960
			Building Products - 0.2%
	11,690		Janus International Group, Inc.*		121,459
			Commercial Services & Supplies - 1.2%
	15,210		CECO Environmental Corp.*		237,732
	63,930		Harsco Corp.*		540,848
					861,698
			Construction & Engineering - 1.6%
	4,530		EMCOR Group, Inc.		757,506
	5,310		Primoris Services Corp.		146,025
	7,260		Sterling Infrastructure, Inc.*		279,220
					1,182,751
			Electrical Equipment - 2.1%
	5,640		Encore Wire Corp.		1,088,576
	78,127		GrafTech International Ltd.		441,418
					1,529,994
			Marine - 0.1%
	25,940		Safe Bulkers, Inc.1		97,275
			Professional Services - 0.5%
	4,720		ManpowerGroup Inc.		400,634
			Road & Rail - 0.2%
	19,610		Daseke, Inc.*		159,822
			Trading Companies & Distributors - 6.1%
	1,590		Applied Industrial Technologies, Inc.		227,147
	6,875		BlueLinx*		580,181
	14,220		Boise Cascade Co.		982,744
	2,660		Core & Main, Inc. - Class A*		62,005
	17,340		GMS Inc.*		1,052,711
	31,484		MRC Global Inc.*		352,621
	8,810		Rush Enterprises, Inc. - Class A		499,351
	4,141		Veritiv Corporation		627,113
					4,383,873
			TOTAL INDUSTRIALS		9,134,779
			INFORMATION TECHNOLOGY - 17.8%
			Communications Equipment - 0.7%
	6,040		Cambium Networks Corp.*1		121,223
	18,840		Extreme Networks, Inc.*		352,685
					473,908
			Electronic Equipment, Instruments & Components - 4.2%
	11,080		Arlo Technologies, Inc.*		42,104
	11,260		Avnet, Inc.		503,434
	7,780		Fabrinet*1		948,149
	7,370		Napco Security Technologies, Inc.*		232,892
	16,470		Sanmina Corp.*		995,776
	9,910		ScanSource, Inc.*		308,994
					3,031,349
			IT Services - 1.3%
	1,040		ExlService Holdings Inc.*		171,090
	2,290		IBEX Holdings Ltd.*1		64,006
	42,158		Repay Holdings Corp.*		357,500
	15,562		Squarespace, Inc. - Class A*		364,306
					956,902
			Semiconductors & Semiconductor Equipment - 3.2%
	43,660		ACM Research, Inc. - Class A*		453,191
	29,420		Allegro MicroSystems, Inc.*		1,285,065
	7,800		Camtek Ltd.*1		211,536
	2,140		Impinj, Inc.*		283,807
	1,840		Semtech Corp.*		56,690
					2,290,289
			Software - 7.5%
	49,190		A10 Networks Inc.		748,672
	10,370		Agilysys, Inc.*		828,667
	6,670		American Software, Inc. - Class A		90,312
	12,190		Box, Inc. - Class A*		406,536
	15,520		Dropbox, Inc. - Class A*		316,608
	23,710		LiveRamp Holdings, Inc.*		560,267
	7,420		Manhattan Associates, Inc.*		1,066,625
	3,170		Sapiens International Corp. NV1		65,365
	25,610		Sprinklr, Inc. - Class A*		277,868
	9,890		Tenable Holdings, Inc.*		437,435
	15,760		Teradata Corp.*		642,378
					5,440,733
			Technology Hardware, Storage & Peripherals - 0.9%
	22,510		Avid Technology, Inc.*		654,141
			TOTAL INFORMATION TECHNOLOGY		12,847,322
			MATERIALS - 3.2%
			Chemicals - 1.3%
	2,390		Innospec Inc.		261,610
	7,980		LSB Industries, Inc.*		108,448
	21,470		Orion Engineered Carbons S.A.1		547,485
	310		Stepan Co.		32,268
					949,811
			Containers & Packaging - 0.9%
	19,080		Graphic Packaging Holding Co.		454,104
	13,530		Pactiv Evergreen, Inc.		146,259
					600,363
			Metals & Mining - 1.0%
	24,150		Coeur Mining, Inc.*		75,348
	24,930		Constellium Se*1		398,631
	7,130		Warrior Met Coal, Inc.		272,865
					746,844
			TOTAL MATERIALS		2,297,018
			REAL ESTATE - 0.1%
			Real Estate Management & Development - 0.1%
	17,020		Anywhere Real Estate Inc.*		98,546
			TOTAL REAL ESTATE		98,546
			UTILITIES - 1.7%
			Independent Power and Renewable Electricity Producers - 1.7%
	2,920		Atlantica Sustainable Infrastructure Plc1		80,592
	17,240		Sunnova Energy International Inc.*		306,527
	39,390		Vistra Corp.		866,186
					1,253,305
			TOTAL UTILITIES		1,253,305
			TOTAL COMMON STOCKS
			(Cost $62,195,540)		67,904,834
			REAL ESTATE INVESTMENT TRUSTS (REITs) - 5.2%
	8,770		AssetMark Financial Holdings, Inc.*		274,501
	8,560		CoreCivic, Inc.*		83,118
	15,860		Chatham Lodging Trust		193,651
	9,260		Essential Properties Realty Trust, Inc.		238,538
	36,504		Hersha Hospitality Trust - Class A		305,173
	3,250		NexPoint Residential Trust, Inc.		157,397
	40,460		OUTFRONT Media Inc.		706,027
	18,690		Park Hotels & Resorts Inc.		256,988
	24,100		RLJ Lodging Trust		273,294
	3,910		Ryman Hospitality Properties, Inc.		362,731
	83,030		Service Properties Trust		911,669
			TOTAL REITs
			(Cost $3,586,710)		3,763,087
			EXCHANGE TRADED FUND (ETF) - 0.0%
	90		iShares® Russell 2000 ETF		16,936
			TOTAL ETF
			(Cost $16,935)		16,936
			SHORT-TERM INVESTMENT - 0.5%
	386,091		First American Treasury Obligations Fund - Class X, 4.48%2		386,091
			TOTAL SHORT-TERM INVESTMENT
			(Cost $386,091)		386,091
			TOTAL INVESTMENTS - 100.0%
			(Cost $66,185,276)		72,070,948
			Liabilities in Excess of Other Assets - (0.0%)		(24,890	)
			TOTAL NET ASSETS - 100.0%	$	72,046,058
			ADR - American Depository Receipt
			PLC - Public Limited Company		–
		*	Non-Income producing security
		1	Foreign security denominated in U.S. Dollars.
		2	The rate is the annualized seven-day yield at period end.
Investments are classified by industry pursuant to the Global Industry Classification Standard (GICS®), which was developed by and/or is the exclusive property of Morgan Stanley Capital International, Inc. (“MSCI”) and Standard & Poor’s Financial Services LLC (“S&P”). GICS is a service mark of MSCI and S&P and has been licensed for use by U.S. Bancorp Fund Services, LLC.

North Square Dynamic Small Cap Fund
SUMMARY OF INVESTMENTS
As of February 28, 2023 (Unaudited)
Security Type/Sector	Percent of Total Net Assets
Common Stocks
Information Technology		17.8	%
Health Care		17.5	%
Financials		13.7	%
Industrials		12.7	%
Consumer Discretionary		11.8	%
Energy		6.9	%
Consumer Staples		5.1	%
Communication Services		3.8	%
Materials		3.2	%
Utilities		1.7	%
Real Estate		0.1	%
Total Common Stocks		94.3	%
REITs		5.2	%
ETF		0.0	%
Short-Term Investment		0.5	%
Total Investments		100.0	%
Liabilities in Excess of Other Assets		(0.0	%)
Total Net Assets		100.0	%

North Square Dynamic Small Cap Fund

NOTES TO SCHEDULE OF INVESTMENTS

As of February 28, 2023 (Unaudited)

Fair Value Measurements and Disclosure

Fair Value Measurements and Disclosures defines fair value, establishes a framework for measuring fair value in accordance with GAAP, and expands disclosure about fair value measurements. It also provides guidance on determining when there has been a significant decrease in the volume and level of activity for an asset or a liability, when a transaction is not orderly, and how that information must be incorporated into a fair value measurement.

Under Fair Value Measurements and Disclosures, various inputs are used in determining the value of the Fund’s investments. These inputs are summarized into three broad Levels as described below:

Level 1 – Unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access.

Level 2 – Observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates and similar data.

Level 3 – Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available, representing the Fund’s own assumptions about the assumptions a market participant would use in valuing the asset or liability, and would be based on the best information available.

The availability of observable inputs can vary from security to security and is affected by a wide variety of factors, including, for example, the type of security, whether the security is new and not yet established in the marketplace, the liquidity of markets, and other characteristics particular to the security. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3.

The inputs used to measure fair value may fall into different Levels of the fair value hierarchy. In such cases, for disclosure purposes, the Level in the fair value hierarchy within which the fair value measurement falls in its entirety, is determined based on the lowest Level input that is significant to the fair value measurement in its entirety.

The inputs or methodology used for valuing securities are not an indication of the risk associated with investing in those securities. The following is a summary of the inputs used, as of February 28, 2023, in valuing the Fund’s assets carried at fair value:

		Level 1		Level 2*		Level 3**		Total
	Investments
	Common Stocks1	$	67,904,834	$	-	$	-	$	67,904,834
	REITs		3,763,087		-		-		3,763,087
	ETF		16,936		-		-		16,936
	Short-Term Investment		386,091		-		-		386,091
	Total Investments	$	72,070,948	$	-	$	-	$	72,070,948
1	For a detailed break-out of these securities by major sector and industry classification, please refer to the Schedule of Investments.
*	The Fund did not hold any Level 2 securities at period end.
**	The Fund did not hold any Level 3 securities at period end.