NPORT-EX 2 select.htm NPORT-EX

WPG Partners Select Small Cap Value Fund
  
Schedule of Investments
  
November 30, 2025 (Unaudited)
  
   
COMMON STOCKS - 96.6%
  
Shares
    
Value
 
Communication Services - 2.0%
        
IAC, Inc. (a)
    
101,866
    
$
3,572,441
  
                 
Consumer Discretionary - 13.9%
          
Academy Sports & Outdoors, Inc.
    
66,602
      
3,213,547
  
Driven Brands Holdings, Inc. (a)
    
272,922
      
3,987,390
  
Holley, Inc. (a)
    
1,035,519
      
4,411,311
  
Matthews International Corp. - Class A
    
76,919
      
1,887,592
  
National Vision Holdings, Inc. (a)
    
201,358
      
5,809,178
  
Tri Pointe Homes, Inc. (a)
    
160,763
      
5,485,234
  
             
24,794,252
  
                 
Energy - 6.5%
          
BKV Corp. (a)
    
251,115
      
6,933,285
  
Liberty Energy, Inc.
    
119,559
      
2,125,759
  
National Energy Services Reunited Corp. (a)
    
183,677
      
2,560,457
  
             
11,619,501
  
                 
Financials - 16.1%
          
American Integrity Insurance Group, Inc. (a)
    
143,498
      
3,033,548
  
BGC Group, Inc. - Class A
    
423,667
      
3,685,903
  
Perella Weinberg Partners
    
185,628
      
3,389,567
  
Prosperity Bancshares, Inc.
    
111,647
      
7,671,265
  
SLM Corp.
    
193,091
      
5,657,566
  
Webster Financial Corp.
    
89,571
      
5,338,432
  
             
28,776,281
  
                 
Health Care - 15.1%
          
AMN Healthcare Services, Inc. (a)
    
136,562
      
2,273,757
  
Cytek Biosciences, Inc. (a)
    
452,757
      
2,558,077
  
Enovis Corp. (a)
    
87,787
      
2,657,313
  
Innoviva, Inc. (a)
    
187,530
      
4,075,027
  
Mesa Laboratories, Inc.
    
28,481
      
2,284,176
  
PTC Therapeutics, Inc. (a)
    
44,509
      
3,827,329
  
Teleflex, Inc.
    
81,483
      
9,323,285
  
             
26,998,964
  
                 
Industrials - 18.2%
          
BrightView Holdings, Inc. (a)
    
198,748
      
2,508,200
  
Custom Truck One Source, Inc. (a)
    
570,537
      
3,645,731
  
Gibraltar Industries, Inc. (a)
    
62,519
      
3,123,449
  
Maximus, Inc.
    
59,962
      
5,162,129
  
MYR Group, Inc. (a)
    
13,960
      
3,131,507
  
Proficient Auto Logistics, Inc. (a)
    
309,626
      
2,526,548
  
Regal Rexnord Corp.
    
24,080
      
3,515,439
  
TAT Technologies Ltd. (a)
    
13,482
      
517,979
  
TrueBlue, Inc. (a)
    
294,770
      
1,444,373
  
Tutor Perini Corp. (a)
    
41,882
      
2,871,011
  
V2X, Inc. (a)
    
74,362
      
4,078,756
  
             
32,525,122
  
                 
Information Technology - 14.3%
          
8x8, Inc. (a)
    
1,072,955
      
2,081,533
  
Alpha & Omega Semiconductor Ltd. (a)
    
100,211
      
2,032,279
  
NCR Voyix Corp. (a)
    
570,261
      
5,765,339
  
Onto Innovation, Inc. (a)
    
30,160
      
4,317,706
  
Silicon Motion Technology Corp. - ADR
    
54,960
      
4,889,241
  
Teradata Corp. (a)
    
229,377
      
6,569,357
  
             
25,655,455
  
                 
Materials - 6.9%
          
Century Aluminum Co. (a)
    
74,680
      
2,238,160
  
Ingevity Corp. (a)
    
59,917
      
3,129,465
  
Kronos Worldwide, Inc.
    
403,582
      
2,046,161
  
thyssenkrupp AG
    
453,583
      
4,962,970
  
             
12,376,756
  
                 
Real Estate - 3.6%
          
Broadstone Net Lease, Inc.
    
239,231
      
4,203,288
  
Newmark Group, Inc. - Class A
    
131,373
      
2,283,263
  
             
6,486,551
  
TOTAL COMMON STOCKS (Cost $157,055,703)
      
172,805,323
  
                 
TOTAL INVESTMENTS - 96.6% (Cost $157,055,703)
      
172,805,323
  
Other Assets in Excess of Liabilities - 3.4%
      
6,130,889
  
TOTAL NET ASSETS - 100.0%
          
$
178,936,212
  
                 
Percentages are stated as a percent of net assets.
          
   
The Global Industry Classification Standard (“GICS®”) was developed by and/or is the exclusive property of MSCI, 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. Bank Global Fund Services.
  
   
More narrow industries are utilized for compliance purposes, whereas broad sectors are utilized for reporting purposes.
  

ADR - American Depositary Receipt

(a)
Non-income producing security.

 
Summary of Fair Value Disclosure as of November 30, 2025 (Unaudited)
 
WPG Partners Select Small Cap Value Fund (the "Fund") has adopted fair value accounting standards which establish a definition of fair value and set out a hierarchy for measuring fair value. These standards require additional disclosures about the various inputs and valuation techniques used to develop the measurements of fair value, a discussion of changes in valuation techniques and related inputs during the period, and expanded disclosure of valuation levels for major security types. These inputs are summarized in the three broad levels listed below. The inputs or valuation methodology used for valuing securities are not an indication of the risk associated with investing in those securities.
 
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 based on the best information available.
 
The following is a summary of the fair valuation hierarchy of the Fund’s securities as of November 30, 2025:
 
   
Level 1
    
Level 2
    
Level 3
    
Total
  
Investments:
                        
  Common Stocks
  
$
167,842,353
    
$
4,962,970
    
$
–
    
$
172,805,323
  
Total Investments
  
$
167,842,353
    
$
4,962,970
    
$
–
    
$
172,805,323
  
   
Refer to the Schedule of Investments for further disaggregation of investment categories.