Shares/ Contracts/ Principal			Fair Value
		COMMON STOCKS – 12.7%
		BANKING – 0.8%
	9,400	Bank of America Corp.	$	444,809
	1,306	JPMorgan Chase & Company		378,622
				823,431
		BIOTECH & PHARMA – 0.8%
	1,463	Amgen, Inc.		408,485
	2,014	Zoetis, Inc.		314,083
				722,568
		BIOTECHNOLOGY – 0.7%
	3,603	Corteva, Inc.		268,532
	13,708	Viking Therapeutics, Inc.⁽¹⁾		363,262
				631,794
		CHEMICALS – 0.4%
	1,314	Ecolab, Inc.		354,044

		COMPUTERS – 0.4%
	4,498	Cognizant Technology Solutions Corp., Class A		350,979

		DIVERSIFIED FINANCIAL SERVICES – 0.3%
	843	American Express Co.		268,900

		ELECTRIC – 0.7%
	3,664	Carrier Global Corp.		268,168
	4,814	NextEra Energy, Corp.		334,188
				602,356
		ELECTRICAL EQUIPMENT – 0.6%
	3,366	Johnson Controls International PLC		355,517
	760	Rockwell Automation, Inc.		252,449
				607,966
		FOOD – 0.3%
	966	McDonald’s Corp.		282,236

		HEALTH CARE – PRODUCTS – 0.4%
	2,311	Natera, Inc.⁽¹⁾		390,420

		INSTITUTIONAL FINANCIAL SERVICES – 0.4%
	1,536	Cboe Global Markets, Inc.		358,211

		INSURANCE – 0.9%
	5,420	MetLife, Inc.		435,876
	1,363	Travelers Companies, Inc. (The)		364,657
				800,533

Shares/ Contracts/ Principal			Fair Value
		COMMON STOCKS (continued)
		LEISURE FACILITIES & SERVICES – 0.6%
	1,638	Darden Restaurants, Inc.	$	357,035
	1,743	Shake Shack, Inc., Class A⁽¹⁾		245,066
				602,101
		LEISURE PRODUCTS – 0.3%
	297	Axon Enterprise, Inc.⁽¹⁾		245,898

		OIL & GAS PRODUCERS – 0.4%
	2,454	Diamondback Energy, Inc.		337,180

		PHARMACEUTICALS – 0.8%
	2,277	AbbVie, Inc.		422,657
	1,999	Cardinal Health, Inc.		335,832
				758,489
		RETAIL – 0.3%
	2,045	TJX Companies, Inc.		252,537

		RETAIL – DISCRETIONARY – 0.3%
	808	Home Depot, Inc. (The)		296,245

		SEMICONDUCTORS – 0.3%
	919	Broadcom, Inc.		253,322

		SOFTWARE – 1.5%
	1,049	Guidewire Software, Inc.⁽¹⁾		246,987
	930	Microsoft Corp.		462,591
	1,100	Oracle Corporation		240,493
	1,098	Snowflake, Corp., Class A⁽¹⁾		245,699
	785	Zscaler, Inc.⁽¹⁾		246,443
				1,442,213
		TECHNOLOGY HARDWARE – 0.7%
	5,723	Cisco Systems, Inc.		397,061
	4,789	Corning, Inc.		251,854
				648,915
		TECHNOLOGY SERVICES – 0.4%
	4,934	Fidelity National Information Services, Inc.		401,677

		TELECOMMUNICATIONS – 0.4%
	1,531	T-Mobile US, Inc.		364,776

		TOTAL COMMON STOCKS (Cost $11,581,138)		11,796,791

Shares/ Contracts/ Principal			Fair Value
		PRIVATE COMPANIES – 20.0%
	400,000	AlwaysAI – Senior Secured Promissory Note, 12.00%, 08/14/25^(2),(3)	$	400,000
	950,000	AlwaysAI, Inc., Convertible Debt, 8.00%, 05/31/26^(2),(3)		950,000
	2,000,000	AlwaysAI, Inc., Convertible Debt, 8.00%, 09/29/25^(2),(3)		2,000,000
	254,113	AlwaysAI, Inc., Series A-1 Preferred Stock^(1),(2),(3)		767,218
	490,767	AlwaysAI, Inc., Series B Preferred Stock^(1),(2),(3)		1,698,545
	179,641	Clear Street Group Inc., Series B-1 Preferred Stock^(1),(2),(3)		2,094,614
	332,938	Copia Wealth Studios Common Shares^(1),(2),(3)		676,763
	1,064,396	Copia Wealth Studios Series Seed-2 Preferred Shares^(1),(2),(3)		3,059,713
	23,723	Eat Just, Inc., Series F Common Stock^(1),(2),(3)		437,689
	270,367	Home Services Champ, Inc., Common Stock (formerly GOSITE, Inc., Series A-1 Common Stock)^(1),(2),(3)		1,208,540
	937,500	Iridia, Inc., Convertible Debt, 8.00%, 12/12/27^(2),(3)		997,829
	497,216	Iridia, Inc., Series A-3 Preferred Stock^(1),(2),(3)		772,027
	302,525	Nurture Life, Inc., Series B-1 Preferred Stock^(1),(2),(3)		499,923
	2,085,412	Nurture Life, Inc., Series B-2 Preferred Stock^(1),(2),(3)		2,993,817
				18,556,678
		TOTAL PRIVATE COMPANIES (Cost $17,410,683)		18,556,678

		REAL ESTATE INVESTMENT TRUSTS – 18.2%
		LISTED REAL ESTATE INVESTMENT TRUSTS – 7.1%
	2,984	American Tower Corp., A		659,524
	2,798	AvalonBay Communities, Inc.		569,393
	6,109	Digital Realty Trust, Inc.		1,064,982
	689	Equinix, Inc.		548,079
	17,773	Invitation Homes, Inc.		582,954
	4,095	Prologis, Inc.		430,466
	12,647	Rexford Industrial Realty, Inc.		449,854
	23,859	VICI Properties, Inc.		777,803
	10,080	Welltower, Inc.		1,549,599
		TOTAL LISTED REAL ESTATE INVESTMENT TRUSTS		6,632,654

Shares/ Contracts/ Principal			Fair Value
		REAL ESTATE INVESTMENT TRUSTS (continued)
		NON-LISTED REIT – 3.0%
	86,203	National Healthcare Properties, Inc., Common Stock (formerly Healthcare Trust, Inc., Common Stock)^(1),(2),(3)*	$	2,732,924
		TOTAL NON-LISTED REIT		2,732,924

		PRIVATE REAL ESTATE INVESTMENT TRUSTS – 8.1%
	715,000	Aventine Property Group, Inc., Common Stock^(2),(3)		5,162,300
	715,000	Treehouse Real Estate Investment Trust, Inc., Common Stock^(1),(2),(3)		2,345,200
		TOTAL PRIVATE REAL ESTATE INVESTMENT TRUSTS		7,507,500
		TOTAL REAL ESTATE INVESTMENT TRUSTS (Cost $28,533,506)		16,873,078

		ALTERNATIVE INVESTMENT FUNDS – 34.3%
	250	Arboretum Core Asset Fund, L.P.^(3),(4)		1,961,247
	—	Canyon CLO Fund II L.P.^(2),(3),(5)		7,126,096
	—	Canyon CLO Fund III Cayman Ltd^(2),(3),(5)		15,707,094
	372	Clarion Lion Industrial Trust^(3),(4)		1,372,630
	159	Preservation REIT 1, Inc.^(1),(3),(4)		5,610,356
		TOTAL ALTERNATIVE INVESTMENT FUNDS (Cost $25,629,112)		31,777,423

		EXCHANGE-TRADED FUNDS – 2.8%
		EQUITY – 0.5%
	17,005	Direxion Daily Real Estate Bear 3X Shares		428,866

		FIXED INCOME – 2.3%
	42,305	Janus Henderson AAA CLO ETF		2,146,979

		TOTAL EXCHANGE-TRADED FUNDS (Cost $2,700,633)		2,575,845

		MEDIUM TERM NOTES – 8.3%
		DIVERSIFIED FINANCIAL SERVICES – 8.3%
	1,250,000	Barclays Bank PLC, 0.00%, 04/14/27^(2),(3),(6)		1,250,000
	1,250,000	Barclays Bank PLC, 0.00%, 04/14/27^(2),(3),(6)		1,250,000
	1,750,000	BNP Paribas S.A., 0.00%, 03/08/27^(2),(3)		1,750,000
	1,750,000	BNP Paribas S.A., 0.00%, 03/08/27^(2),(3)		1,750,000

Shares/ Contracts/ Principal			Fair Value
		MEDIUM TERM NOTES (continued)
		DIVERSIFIED FINANCIAL SERVICES (continued)
	850,000	Goldman Sachs Finance Corp., 0.00%, 04/20/27^(2),(3)	$	850,000
	850,000	Goldman Sachs Finance Corp., 0.00%, 04/22/27^(2),(3)		850,000
		TOTAL MEDIUM TERM NOTES (Cost $7,700,000)		7,700,000

		WARRANTS – 0.6%
		FOOD – 0.6%
	878,570	Nurture Life, Inc., 12/24/32^(1),(2),(3)		524,243

		SOFTWARE – 0.0%⁽⁷⁾
	1	AlwaysAI, Inc., 09/29/33^(1),(2),(3)		—

		TOTAL WARRANTS (Cost $0)		524,243

		CONTINGENT VALUE RIGHTS – 0.3%
		PHARMACEUTICALS – 0.0%⁽⁷⁾
	142,000	Bristol-Myers Squibb Co., 03/31/21^(1),(2)		—

		REAL ESTATE – 0.3%
	456,540	Hospitality Investors Trust, Inc., 06/29/26^(1),(2),(3)*		241,226
	579,536	Ready Capital Corp., 03/16/25^(1),(2),(3)*		—

		TOTAL CONTINGENT VALUE RIGHTS (Cost $10,690,110)		241,226

		SHORT-TERM INVESTMENTS – 9.5%
		MONEY MARKET FUNDS – 9.5%
	8,819,527	Fidelity Investments Money Market Government Portfolio, Class I, 4.18% (Cost $8,819,527)^(8),(9)		8,819,527

		PURCHASED OPTIONS CONTRACTS* – 2.3%
		CALL OPTIONS – 2.3%
	9	Adobe, Inc. Exercise Price: $615, Notional Amount: $553,500, Expiration Date: 08/15/2025⁽¹⁾		572
	6	Adobe, Inc. Exercise Price: $670, Notional Amount: $402,000, Expiration Date: 08/15/2025⁽¹⁾		258
	12	Adobe, Inc. Exercise Price: $590, Notional Amount: $708,000, Expiration Date: 09/19/2025⁽¹⁾		486
	9	Adobe, Inc. Exercise Price: $460, Notional Amount: $414,000, Expiration Date: 03/20/2026⁽¹⁾		18,293

Shares/ Contracts/ Principal			Fair Value
		*PURCHASED OPTIONS CONTRACTS (continued)**
		CALL OPTIONS (continued)
	8	Adobe, Inc. Exercise Price: $500, Notional Amount: $400,000, Expiration Date: 03/20/2026⁽¹⁾	$	10,104
	37	Advanced Micro Devices, Inc. Exercise Price: $140, Notional Amount: $518,000, Expiration Date: 07/18/2025⁽¹⁾		22,755
	37	Advanced Micro Devices, Inc. Exercise Price: $160, Notional Amount: $592,000, Expiration Date: 07/18/2025⁽¹⁾		2,590
	30	Advanced Micro Devices, Inc. Exercise Price: $175, Notional Amount: $525,000, Expiration Date: 09/19/2025⁽¹⁾		9,450
	24	Advanced Micro Devices, Inc. Exercise Price: $195, Notional Amount: $468,000, Expiration Date: 09/19/2025⁽¹⁾		3,528
	35	Affirm Holdings, Inc. Exercise Price: $90, Notional Amount: $315,000, Expiration Date: 09/19/2025⁽¹⁾		9,555
	8	AppLovin Corp. Exercise Price: $390, Notional Amount: $312,000, Expiration Date: 11/21/2025⁽¹⁾		44,560
	91	Block, Inc. Exercise Price: $100, Notional Amount: $910,000, Expiration Date: 09/19/2025⁽¹⁾		4,550
	50	Block, Inc. Exercise Price: $73, Notional Amount: $365,000, Expiration Date: 01/16/2026⁽¹⁾		40,500
	56	Block, Inc. Exercise Price: $75, Notional Amount: $420,000, Expiration Date: 03/20/2026⁽¹⁾		49,840
	58	Cava Group, Inc. Exercise Price: $145, Notional Amount: $841,000, Expiration Date: 09/19/2025⁽¹⁾		2,465
	52	Cava Group, Inc. Exercise Price: $160, Notional Amount: $832,000, Expiration Date: 09/19/2025⁽¹⁾		2,938
	22	Cava Group, Inc. Exercise Price: $105, Notional Amount: $231,000, Expiration Date: 01/16/2026⁽¹⁾		15,400
	39	Cava Group, Inc. Exercise Price: $120, Notional Amount: $468,000, Expiration Date: 01/16/2026⁽¹⁾		15,990

Shares/ Contracts/ Principal			Fair Value
		*PURCHASED OPTIONS CONTRACTS (continued)**
		CALL OPTIONS (continued)
	47	Cava Group, Inc. Exercise Price: $95, Notional Amount: $446,500, Expiration Date: 03/20/2026⁽¹⁾	$	58,280
	29	Cava Group, Inc. Exercise Price: $105, Notional Amount: $304,500, Expiration Date: 03/20/2026⁽¹⁾		27,260
	71	Chipotle Mexican Grill, Inc. Exercise Price: $55, Notional Amount: $390,500, Expiration Date: 01/16/2026⁽¹⁾		47,570
	7	Duolingo, Inc. Exercise Price: $540, Notional Amount: $378,000, Expiration Date: 03/20/2026⁽¹⁾		31,255
	4	Eli Lilly & Co. Exercise Price: $920, Notional Amount: $368,000, Expiration Date: 03/20/2026⁽¹⁾		20,500
	5	Eli Lilly & Co. Exercise Price: $860, Notional Amount: $430,000, Expiration Date: 06/18/2026⁽¹⁾		42,675
	16	Flutter Entertainment PLC Exercise Price: $300, Notional Amount: $480,000, Expiration Date: 01/16/2026⁽¹⁾		37,520
	103	Gitlab, Inc. Exercise Price: $85, Notional Amount: $875,500, Expiration Date: 09/19/2025⁽¹⁾		1,030
	65	Gitlab, Inc. Exercise Price: $60, Notional Amount: $390,000, Expiration Date: 10/17/2025⁽¹⁾		9,035
	52	Gitlab, Inc. Exercise Price: $63, Notional Amount: $327,600, Expiration Date: 01/16/2026⁽¹⁾		13,000
	20	Guidewire Software, Inc. Exercise Price: $250, Notional Amount: $500,000, Expiration Date: 01/16/2026⁽¹⁾		42,500
	19	Guidewire Software, Inc. Exercise Price: $260, Notional Amount: $494,000, Expiration Date: 01/16/2026⁽¹⁾		31,920
	26	Howmet Aerospace, Inc. Exercise Price: $180, Notional Amount: $468,000, Expiration Date: 01/16/2026⁽¹⁾		65,520

Shares/ Contracts/ Principal			Fair Value
		*PURCHASED OPTIONS CONTRACTS (continued)**
		CALL OPTIONS (continued)
	22	Howmet Aerospace, Inc. Exercise Price: $200, Notional Amount: $440,000, Expiration Date: 06/18/2026⁽¹⁾	$	53,900
	6	HubSpot, Inc. Exercise Price: $830, Notional Amount: $498,000, Expiration Date: 12/19/2025⁽¹⁾		4,380
	5	HubSpot, Inc. Exercise Price: $700, Notional Amount: $350,000, Expiration Date: 01/16/2026⁽¹⁾		12,735
	5	HubSpot, Inc. Exercise Price: $820, Notional Amount: $410,000, Expiration Date: 01/16/2026⁽¹⁾		4,600
	5	HubSpot, Inc. Exercise Price: $840, Notional Amount: $420,000, Expiration Date: 01/16/2026⁽¹⁾		3,800
	7	HubSpot, Inc. Exercise Price: $600, Notional Amount: $420,000, Expiration Date: 03/20/2026⁽¹⁾		47,985
	7	Meta Platforms, Inc. Exercise Price: $820, Notional Amount: $574,000, Expiration Date: 06/18/2026⁽¹⁾		56,735
	22	Natera, Inc. Exercise Price: $180, Notional Amount: $396,000, Expiration Date: 12/19/2025⁽¹⁾		35,640
	19	Natera, Inc. Exercise Price: $185, Notional Amount: $351,500, Expiration Date: 12/19/2025⁽¹⁾		28,120
	30	Natera, Inc. Exercise Price: $190, Notional Amount: $570,000, Expiration Date: 01/16/2026⁽¹⁾		43,500
	4	Netflix, Inc. Exercise Price: $1,400, Notional Amount: $560,000, Expiration Date: 06/18/2026⁽¹⁾		74,392
	34	NVIDIA Corp. Exercise Price: $170, Notional Amount: $578,000, Expiration Date: 09/19/2025⁽¹⁾		27,200
	28	NVIDIA Corp. Exercise Price: $175, Notional Amount: $490,000, Expiration Date: 09/19/2025⁽¹⁾		17,640
	28	NVIDIA Corp. Exercise Price: $180, Notional Amount: $504,000, Expiration Date: 09/19/2025⁽¹⁾		14,140

Shares/ Contracts/ Principal			Fair Value
		PURCHASED OPTIONS CONTRACTS* (continued)
		CALL OPTIONS (continued)
	42	NVIDIA Corp. Exercise Price: $155, Notional Amount: $651,000, Expiration Date: 11/21/2025⁽¹⁾	$	83,243
	21	Oracle Corporation Exercise Price: $250, Notional Amount: $525,000, Expiration Date: 07/18/2025⁽¹⁾		735
	30	Palo Alto Networks, Inc. Exercise Price: $225, Notional Amount: $675,000, Expiration Date: 09/19/2025⁽¹⁾		18,000
	63	PayPal Holdings, Inc. Exercise Price: $95, Notional Amount: $598,500, Expiration Date: 09/19/2025⁽¹⁾		2,520
	100	Pinterest, Inc. Exercise Price: $47, Notional Amount: $470,000, Expiration Date: 01/16/2026⁽¹⁾		16,500
	100	Pinterest, Inc. Exercise Price: $40, Notional Amount: $400,000, Expiration Date: 03/20/2026⁽¹⁾		45,000
	97	Pinterest, Inc. Exercise Price: $42, Notional Amount: $407,400, Expiration Date: 06/18/2026⁽¹⁾		44,378
	18	Reddit, Inc. Exercise Price: $175, Notional Amount: $315,000, Expiration Date: 11/21/2025⁽¹⁾		35,550
	18	Reddit, Inc. Exercise Price: $210, Notional Amount: $378,000, Expiration Date: 11/21/2025⁽¹⁾		22,500
	37	Rubrik, Inc. Exercise Price: $105, Notional Amount: $388,500, Expiration Date: 01/16/2026⁽¹⁾		39,405
	21	Salesforce, Inc. Exercise Price: $380, Notional Amount: $798,000, Expiration Date: 09/19/2025⁽¹⁾		1,554
	20	Salesforce, Inc. Exercise Price: $390, Notional Amount: $780,000, Expiration Date: 01/16/2026⁽¹⁾		4,920
	14	Salesforce, Inc. Exercise Price: $330, Notional Amount: $462,000, Expiration Date: 03/20/2026⁽¹⁾		18,550
	15	Salesforce, Inc. Exercise Price: $350, Notional Amount: $525,000, Expiration Date: 03/20/2026⁽¹⁾		14,025

Shares/ Contracts/ Principal			Fair Value
		PURCHASED OPTIONS CONTRACTS* (continued)
		CALL OPTIONS (continued)
	16	Salesforce, Inc. Exercise Price: $290, Notional Amount: $464,000, Expiration Date: 06/18/2026⁽¹⁾	$	51,584
	1	Shake Shack, Inc. Exercise Price: $150, Notional Amount: $15,000, Expiration Date: 03/20/2026⁽¹⁾		1,975
	32	Shift4 Payments, Inc. Exercise Price: $100, Notional Amount: $320,000, Expiration Date: 01/16/2026⁽¹⁾		43,520
	36	Shift4 Payments, Inc. Exercise Price: $105, Notional Amount: $378,000, Expiration Date: 01/16/2026⁽¹⁾		41,400
	29	Shopify, Inc. Exercise Price: $130, Notional Amount: $377,000, Expiration Date: 01/16/2026⁽¹⁾		36,105
	51	Shopify, Inc. Exercise Price: $150, Notional Amount: $765,000, Expiration Date: 01/16/2026⁽¹⁾		35,190
	30	Shopify, Inc. Exercise Price: $135, Notional Amount: $405,000, Expiration Date: 03/20/2026⁽¹⁾		41,250
	19	Take-Two Interactive Software, Inc. Exercise Price: $240, Notional Amount: $456,000, Expiration Date: 03/20/2026⁽¹⁾		59,945
	16	Take-Two Interactive Software, Inc. Exercise Price: $250, Notional Amount: $400,000, Expiration Date: 03/20/2026⁽¹⁾		40,864
	9	Tesla, Inc. Exercise Price: $400, Notional Amount: $360,000, Expiration Date: 11/21/2025⁽¹⁾		20,385
	26	Trade Desk, Inc. (The) Exercise Price: $140, Notional Amount: $364,000, Expiration Date: 07/18/2025⁽¹⁾		13
	46	Trade Desk, Inc. (The) Exercise Price: $150, Notional Amount: $690,000, Expiration Date: 07/18/2025⁽¹⁾		23
	86	Trade Desk, Inc. (The) Exercise Price: $150, Notional Amount: $1,290,000, Expiration Date: 09/19/2025⁽¹⁾		2,150
	75	Uber Technologies, Inc. Exercise Price: $95, Notional Amount: $712,500, Expiration Date: 09/19/2025⁽¹⁾		48,750

Shares/ Contracts/ Principal			Fair Value
		PURCHASED OPTIONS CONTRACTS* (continued)
		CALL OPTIONS (continued)
	41	Uber Technologies, Inc. Exercise Price: $100, Notional Amount: $410,000, Expiration Date: 01/16/2026⁽¹⁾	$	35,506
	8	Vertex Pharmaceuticals, Inc. Exercise Price: $500, Notional Amount: $400,000, Expiration Date: 06/18/2026⁽¹⁾		31,600
	6	Vertex Pharmaceuticals, Inc. Exercise Price: $580, Notional Amount: $348,000, Expiration Date: 06/18/2026⁽¹⁾		9,930
	66	Vertiv Holdings Company Exercise Price: $140, Notional Amount: $924,000, Expiration Date: 09/19/2025⁽¹⁾		61,050
	27	Vertiv Holdings Company Exercise Price: $140, Notional Amount: $378,000, Expiration Date: 01/16/2026⁽¹⁾		45,090
	20	Wix.com Ltd. Exercise Price: $270, Notional Amount: $540,000, Expiration Date: 11/21/2025⁽¹⁾		3,200
	20	Wix.com Ltd. Exercise Price: $175, Notional Amount: $350,000, Expiration Date: 01/16/2026⁽¹⁾		30,900
	31	Wix.com Ltd. Exercise Price: $250, Notional Amount: $775,000, Expiration Date: 01/16/2026⁽¹⁾		9,455
		TOTAL CALL OPTIONS PURCHASED (Cost – $3,561,826)		2,103,431

		TOTAL PURCHASED OPTIONS CONTRACTS (Cost – $3,561,826)		2,103,431

		TOTAL INVESTMENTS – 109.0% (Cost $116,626,535)		100,968,242
		LIABILITIES IN EXCESS OF OTHER ASSETS – (9.0)%		(8,344,408	)
		NET ASSETS – 100.0%	$	92,623,834

Shares/ Contracts/ Principal				Fair Value
			*WRITTEN OPTION CONTRACTS – (0.1)%**
			CALL OPTIONS – (0.1)%
	94		Bank of America Corporation Exercise Price: $43, Notional Amount: $408,200, Expiration Date: 07/18/2025⁽¹⁾	$	(45,214	)
	11		Oracle Corporation Exercise Price: $170, Notional Amount: $187,000, Expiration Date: 07/18/2025⁽¹⁾		(55,968	)
			TOTAL CALL OPTIONS (Proceeds – $(19,966))		(101,182	)
			TOTAL WRITTEN OPTION CONTRACTS (Proceeds – $(19,966))		(101,182	)

			EXCHANGE-TRADED FUNDS SOLD SHORT – (0.9)%
			EQUITY – (0.9)%
	(9,800	)	ProShares UltraPro QQQ		(813,400	)
			TOTAL EXCHANGE-TRADED FUNDS SOLD SHORT – (Proceeds – $167,745)		(813,400	)

			TOTAL SHORT SECURITIES – (Proceeds – $(187,711))	$	(914,582	)

⁽¹⁾	Non-income producing security.
⁽²⁾	Fair valued using significant unobservable inputs.
⁽³⁾	Restricted investment as to resale.
⁽⁴⁾	Investments in Alternative Investment Funds are valued using net asset value as a practical expedient.
⁽⁵⁾	Alternative investment fund does not issue shares.
⁽⁶⁾	Variable rate security; the rate shown represents the rate on June 30, 2025.
⁽⁷⁾	Percentage rounds to less than 0.1%.
⁽⁸⁾	Rate disclosed is the seven day effective yield as of June 30, 2025.
⁽⁹⁾	All or a portion of this security is held as collateral for securities sold short.

*	All securities are pledged as collateral except for securities identified with a * superscript.

ETF – Exchange-Traded Fund

LP – Limited Partnership

REIT – Real Estate Investment Trusts

Restricted securities — Restricted securities are securities that may be resold only upon registration under federal securities laws or in transactions exempt from such registration. In some cases, the issuer of restricted securities has agreed to register such securities for resale, at the issuer’s expense either upon demand by the Fund or in connection with another registered offering of the securities. Many restricted securities may be resold in the secondary market in transactions exempt from registration. Such restricted securities may be determined to be liquid under criteria established by the Board. The restricted securities may be valued at the price provided by dealers in the secondary market or, if no market prices are available, the fair value as determined in good faith using methods approved by the Board. The Alternative Investment Funds generally are restricted securities that are subject to substantial holding periods and are not traded in public markets, so that the Fund may not be able to resell some of its investments for extended periods, which may be several years.

Additional information on each restricted investment held by the Fund at June 30, 2025 is as follows:

Security Description	Acquisition Date	Cost			Value		% of Net Assets
AlwaysAI, Inc., Convertible Debt	10/2/2023	$	2,000,000		$	2,000,000		2.2	%
AlwaysAI, Inc., Convertible Debt	5/31/2024		950,000			950,000		1.0
AlwaysAI, Inc., Preferred Stock	1/5/2021		399,999			767,218		0.8
AlwaysAI, Inc., Preferred Stock	2/22/2022		1,599,999			1,698,545		1.8
AlwaysAI, Inc., Senior Secured Promissory Note	2/5/2025		400,000			400,000		0.4
AlwaysAI, Inc., Warrants	10/2/2023		—	⁽¹⁾		—		—
Arboretum Core Asset Fund LP	8/2/2018		2,315,068			1,961,247		2.1
Aventine Property Group, Inc.	1/13/2021		5,692,400			5,162,300		5.6
Barclays Bank PLC	4/9/2025		1,250,000			1,250,000		1.3
Barclays Bank PLC	4/9/2025		1,250,000			1,250,000		1.3
BNP Paribas S.A.	3/3/2025		1,750,000			1,750,000		1.9
BNP Paribas S.A.	3/3/2025		1,750,000			1,750,000		1.9
Canyon CLO Fund II L.P.	2/25/2019		6,132,077			7,126,096		7.7
Canyon CLO Fund III (Cayman) Ltd.	3/1/2022		13,243,419			15,707,094		17.0
Clarion Lion Industrial Trust	6/29/2015		511,381			1,372,630		1.5
Clear Street Group, Inc.	5/11/2022		1,500,000			2,094,614		2.3
Copia Wealth Studios – Common Shares	5/22/2024		333			676,763		0.7
Copia Wealth Studios – Preferred Shares	4/1/2024		3,000,000			3,059,713		3.3
Eat Just, Inc.	6/11/2021		515,501			437,689		0.5
Goldman Sachs Finance Corp.	4/15/2025		850,000			850,000		0.9
Goldman Sachs Finance Corp.	4/15/2025		850,000			850,000		0.9
Home Services Champ, Inc., Common Stock (formerly GOSITE, Inc., Series A-1 Common Stock)	7/31/2020		2,099,998			1,208,540		1.3
Hospitality Investors Trust, Inc.	2/17/2015		10,530,898			241,226		0.3
Iridia, Inc., Convertible Debt	12/23/2024		937,500			997,829		1.1
Iridia, Inc., Preferred Stock	2/25/2021		750,000			772,027		0.8
National Healthcare Properties, Inc., Common Stock (formerly Healthcare Trust, Inc., Common Stock)	3/30/2012		7,439,974			2,732,924		3.0
Nurture Life, Inc., Preferred Stock	8/2/2022		500,000			499,923		0.5
Nurture Life, Inc., Preferred Stock	2/18/2025		2,757,353			2,993,817		3.2
Nurture Life, Inc., Warrants	12/23/2022		—			524,243		0.6
Preservation REIT 1, Inc.	10/22/2019		3,427,166			5,610,356		6.1
Ready Capital Corp., Contingent Value Rights	7/6/2017		—	⁽¹⁾		—		—
Treehouse Real Estate Investment Trust, Inc.	12/31/2018		8,536,850			2,345,200		2.5
Total		$	82,939,916		$	69,039,994		74.5	%