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North Square Investments Trust NPORT-PNorth Square Mckee Bond Fund (Jan 2024 report)

Filed: 1 Apr 24, 9:24am

North

Square

Advisory

Research

Small

Cap

Fund

Schedule

of

Investments

January

31,

2024

-

(Unaudited)

Shares

Fair

Value

COMMON

STOCKS

—

97.5%

CONSUMER

DISCRETIONARY

-

24.0%

AUTOMOTIVE

-

5.6%

28,205

Miller

Industries,

Inc.

$

1,135,251‌

HOME

CONSTRUCTION

-

3.1%

9,027

Skyline

Champion

Corp.

(a)

618,169‌

LEISURE

FACILITIES

&

SERVICES

-

5.3%

10,995

Monarch

Casino

&

Resort,

Inc.

757,885‌

23,062

OneSpaWorld

Holdings

Ltd.

(a)

314,335‌

1,072,220‌

LEISURE

PRODUCTS

-

2.6%

6,485

Brunswick

Corp.

523,210‌

RETAIL

-

DISCRETIONARY

-

7.4%

3,830

Asbury

Automotive

Group,

Inc.

(a)

800,700‌

4,692

Floor

&

Decor

Holdings,

Inc.,

Class

A

(a)

471,828‌

8,305

Foot

Locker,

Inc.

233,869‌

1,506,397‌

TOTAL

CONSUMER

DISCRETIONARY

4,855,247‌

CONSUMER

STAPLES

-

4.4%

WHOLESALE

-

CONSUMER

STAPLES

-

4.4%

12,182

Performance

Food

Group

Co.

(a)

885,388‌

TOTAL

CONSUMER

STAPLES

885,388‌

ENERGY

-

1.5%

OIL

&

GAS

SERVICES

&

EQUIPMENT

-

1.5%

11,305

ChampionX

Corp.

309,870‌

TOTAL

ENERGY

309,870‌

FINANCIALS

-

20.1%

ASSET

MANAGEMENT

-

1.6%

15,735

Cannae

Holdings,

Inc.

(a)

318,634‌

BANKING

-

13.1%

18,367

First

Interstate

BancSystem,

Inc.,

Class

A

505,460‌

13,970

First

Merchants

Corp.

472,326‌

6,017

Nicolet

Bankshares,

Inc.

(a)

467,942‌

6,383

SouthState

Corp.

530,427‌

13,756

Webster

Financial

Corp.

680,647‌

2,656,802‌

North

Square

Advisory

Research

Small

Cap

Fund

Schedule

of

Investments

(continued)

January

31,

2024

-

(Unaudited)

Shares

Fair

Value

COMMON

STOCKS

—

97.5%

(Continued)

INSURANCE

-

5.4%

4,060

Enstar

Group,

Ltd.

(a)

$

1,083,573‌

TOTAL

FINANCIALS

4,059,009‌

HEALTH

CARE

-

2.6%

HEALTH

CARE

FACILITIES

&

SERVICES

-

2.6%

7,090

HealthEquity,

Inc.

(a)

535,862‌

TOTAL

HEALTH

CARE

535,862‌

INDUSTRIALS

-

23.4%

COMMERCIAL

SUPPORT

SERVICES

-

8.4%

53,790

Emerald

Holding,

Inc.

(a)

330,271‌

34,262

First

Advantage

Corp.

560,869‌

24,600

Viad

Corp.

(a)

813,276‌

1,704,416‌

ELECTRICAL

EQUIPMENT

-

3.7%

11,090

Bel

Fuse,

Inc.,

Class

B

(a)

741,477‌

MACHINERY

-

9.5%

3,220

Alamo

Group,

Inc.

683,542‌

38,102

Gates

Industrial

Corp.

PLC

(a)

490,754‌

7,655

John

Bean

Technologies

Corp.

756,007‌

1,930,303‌

TRANSPORTATION

EQUIPMENT

-

1.8%

14,705

Trinity

Industries,

Inc.

369,684‌

TOTAL

INDUSTRIALS

4,745,880‌

MATERIALS

-

12.3%

CHEMICALS

-

6.1%

28,319

Element

Solutions,

Inc.

629,532‌

16,735

Valvoline,

Inc.

(a)

610,660‌

1,240,192‌

CONSTRUCTION

MATERIALS

-

1.8%

1,585

Eagle

Materials,

Inc.

358,654‌

CONTAINERS

&

PACKAGING

-

4.4%

2,135

AptarGroup,

Inc.

277,294‌

24,598

TriMas

Corp.

607,078‌

884,372‌

TOTAL

MATERIALS

2,483,218‌

REAL

ESTATE

-

1.0%

North

Square

Advisory

Research

Small

Cap

Fund

Schedule

of

Investments

(continued)

January

31,

2024

-

(Unaudited)

Shares

Fair

Value

COMMON

STOCKS

—

97.5%

(Continued)

REAL

ESTATE

OWNERS

&

DEVELOPERS

-

1.0%

8,640

Legacy

Housing

Corp.

(a)

$

204,163‌

TOTAL

REAL

ESTATE

204,163‌

TECHNOLOGY

-

8.2%

SOFTWARE

-

4.2%

30,535

Alkami

Technology,

Inc.

(a)

751,772‌

1,210

Blackbaud,

Inc.

(a)

97,913‌

849,685‌

TECHNOLOGY

HARDWARE

-

1.0%

48,065

Pitney

Bowes,

Inc.

197,547‌

TECHNOLOGY

SERVICES

-

3.0%

14,245

Cass

Information

Systems,

Inc.

614,814‌

TOTAL

TECHNOLOGY

1,662,046‌

TOTAL

COMMON

STOCKS

(Cost $17,889,699)

19,740,683‌

Shares

Fair

Value

SHORT-TERM

INVESTMENTS

—

2.4%

482,586‌

First

American

Treasury

Obligations

Fund,

Class

X,

5.25%

(b)

482,586‌

TOTAL

SHORT-TERM

INVESTMENTS

(Cost $482,586)

482,586‌

TOTAL

INVESTMENTS

-

99.9%

(Cost

$18,372,285)

$

20,223,269‌

Other

Assets

in

Excess

of

Liabilities-

0.1%

17,409‌

NET

ASSETS

-

100.0%

$

20,240,678‌

(a)

Non-income

producing

security.

(b)

Rate

disclosed

is

the

seven

day

effective

yield

as

of

January

31,

2024.

North

Square

Altrinsic

International

Equity

Fund

Schedule

of

Investments

January

31,

2024

-

(Unaudited)

Shares

Fair

Value

COMMON

STOCKS

—

93.3%

Bermuda

-

4.3%

25,662

AXIS

Capital

Holdings

Ltd.

$

1,527,402‌

9,332

Everest

Re

Group,

Ltd.

3,592,540‌

5,119,942‌

Brazil

-

0.9%

326,047

Lojas

Renner

SA

(a)

1,060,171‌

Canada

-

1.1%

12,623

Agnico

Eagle

Mines

Ltd.

620,547‌

119,152

Kinross

Gold

Corp.

656,795‌

1,277,342‌

Cayman

Islands

-

3.1%

146,368

Alibaba

Group

Holding

Ltd.

1,312,775‌

103,368

Baidu,

Inc.,

Class

A

(a)

1,338,331‌

410,687

Sands

China

Ltd.

(a)

1,077,962‌

3,729,068‌

France

-

13.1%

36,509

AXA

SA

1,225,207‌

71,252

Bureau

Veritas

SA

1,894,869‌

47,778

Cia

Generale

de

Establissements

Michelin

SCA

1,586,060‌

36,158

Danone

2,408,525‌

7,653

Pernod

Ricard

SA

(a)

1,254,745‌

31,400

Sanofi

3,143,979‌

32,659

SCOR

SE

974,073‌

47,364

TotalEnergies

SE

3,072,189‌

15,559,647‌

Germany

-

8.1%

6,164

adidas

AG

1,163,471‌

11,216

BioNTech

SE

-

ADR

(a)

1,065,969‌

37,449

Daimler

Truck

Holding

AG

1,338,070‌

8,064

Deutsche

Boerse

AG

1,605,560‌

31,795

DHL

Group

1,529,458‌

7,672

SAP

SE

1,328,898‌

9,057

Siemens

AG

1,621,114‌

9,652,540‌

India

-

1.9%

40,488

HDFC

Bank

Ltd.

-

ADR

2,246,679‌

Ireland

-

6.4%

17,340

CRH

PLC

1,244,318‌

9,335

Kerry

Group

PLC,

Class

A

831,910‌

31,921

Medtronic

PLC

2,794,365‌

11,024

Willis

Towers

Watson

PLC

2,715,211‌

7,585,804‌

North

Square

Altrinsic

International

Equity

Fund

Schedule

of

Investments

(continued)

January

31,

2024

-

(Unaudited)

Shares

Fair

Value

COMMON

STOCKS

—

93.3%

(Continued)

Israel

-

2.5%

18,678

Check

Point

Software

Technologies

Ltd.

(a)

$

2,968,495‌

Japan

-

14.2%

19,676

Daito

Trust

Construction

Co.,

Ltd.

2,238,293‌

31,406

Eisai

Co.

Ltd.

1,478,957‌

159,596

Kubota

Corp.

2,416,027‌

34,493

Makita

Corp.

(a)

928,436‌

55,107

MinebeaMitsumi,

Inc.

(a)

1,139,143‌

29,895

Sompo

Holdings,

Inc.

1,550,194‌

14,519

Sony

Group

Corp.

1,423,942‌

111,566

Sumitomo

Mitsui

Trust

Holdings,

Inc.

2,286,492‌

46,780

Suzuki

Motor

Corp.

2,125,858‌

47,145

Tokio

Marine

Holdings,

Inc.

1,243,169‌

16,830,511‌

Korea (Republic

Of)

-

5.2%

38,168

Hana

Financial

Group,

Inc.

1,364,872‌

57,364

KB

Financial

Group

Inc.

2,434,545‌

1,750

Samsung

Electronics

Co.

Ltd.

2,391,495‌

6,190,912‌

Mexico

-

2.2%

8,204

Fomento

Economico

Mexicano,

SAB

de

CV

-

ADR

1,111,970‌

368,971

Wal-Mart

de

Mexico

SAB

de

CV

1,524,238‌

2,636,208‌

Netherlands

-

5.8%

31,643

Akzo

Nobel

N.V.

(a)

2,430,121‌

15,909

Euronext

NV

1,399,048‌

30,389

Heineken

N.V.

3,056,422‌

6,885,591‌

Peru

-

1.2%

9,215

Credicorp

Ltd.

1,367,782‌

Singapore

-

1.2%

202,564

Singapore

Exchange

Ltd.

(a)

1,414,664‌

Spain

-

0.9%

116,657

Banco

Bilbao

Vizcaya

Argentaria

SA

1,091,639‌

Switzerland

-

11.2%

17,797

Chubb

Ltd.

4,360,265‌

21,939

Nestle

S.A.

2,500,513‌

5,516

Novartis

AG

570,556‌

7,401

Roche

Holding

AG

2,107,650‌

29,585

Sandoz

Insurance

Group

AG

(a)

1,014,841‌

North

Square

Altrinsic

International

Equity

Fund

Schedule

of

Investments

(continued)

January

31,

2024

-

(Unaudited)

Shares

Fair

Value

COMMON

STOCKS

—

93.3%

(Continued)

Switzerland

-

11.2%

(Continued)

5,408

Zurich

Insurance

Group

AG

$

2,748,353‌

13,302,178‌

United

Kingdom

-

10.0%

48,253

BP

PLC

-

ADR

1,693,680‌

71,005

Diageo

PLC

2,564,578‌

158,400

GSK

PLC

3,132,830‌

324,782

Haleon

PLC

1,319,203‌

71,175

Liberty

Global

Ltd.,

Class

A

(a)

1,402,148‌

1,770,463

Lloyds

Banking

Group

PLC

949,077‌

97,681

Vodafone

Group

PLC

-

ADR

840,057‌

11,901,573‌

TOTAL

COMMON

STOCKS

(Cost $105,147,015)

110,820,746‌

Shares

Fair

Value

PREFERRED

STOCKS

—

2.5%

Brazil

-

1.5%

269,827

Itau

Unibanco

Holdings

SA

(a)

1,790,133‌

Germany

-

1.0%

15,430

Henkel

AG

&

Co.

KGaA

1,182,619‌

TOTAL

PREFERRED

STOCKS

(Cost $2,551,743)

2,972,752‌

Shares

Fair

Value

SHORT-TERM

INVESTMENTS

—

4.4%

5,230,853‌

First

American

Treasury

Obligations

Fund,

Class

X,

5.25%

(b)

5,230,853‌

TOTAL

SHORT-TERM

INVESTMENTS

(Cost $5,230,853)

5,230,853‌

TOTAL

INVESTMENTS

-

100.2%

(Cost

$112,929,611)

$

119,024,351‌

Liabilities

in

Excess

of

Other

Assets

-

(0.2)%

(260,509‌)

NET

ASSETS

-

100.0%

$

118,763,842‌

(a)

Non-income

producing

security.

(b)

Rate

disclosed

is

the

seven

day

effective

yield

as

of

January

31,

2024.

ADR

-

American

Depositary

Receipt

SA

-

Société

Anonyme

North

Square

McKee

Bond

Fund

Schedule

of

Investments

January

31,

2024

-

(Unaudited)

,

Principal

Amount

($)

Fair

Value

ASSET

BACKED

SECURITIES

—

3.5%

400,000

Aligned

Data

Centers

Issuer

LLC,

1.937%,

08/15/46

(a)

$

361,422‌

435,798

American

Credit

Acceptance

Receivables

Trust

2021-2,

1.340%,

07/13/27

(a)

425,643‌

500,000

AMSR

2019-SFR1

Trust,

2.774%,

01/20/39

(a)

467,138‌

200,000

AMSR

2021-SFR2

Trust,

1.527%,

08/19/38

(a)

183,146‌

9,964

Amur

Equipment

Finance

Receivables

IX

LLC,

0.750%,

11/20/26

(a)

9,873‌

785,000

Amur

Equipment

Finance

Receivables

X

LLC,

2.200%,

01/20/28

(a)

745,256‌

528,691

Chesapeake

Funding

II

LLC,

5.650%,

05/15/35

(a)

531,748‌

250,000

Dell

Equipment

Finance

Trust

2023-3,

5.930%,

06/22/26

(a)

254,787‌

12,321

Flagship

Credit

Auto

Trust

2021-3,

0.360%,

07/15/27

(a)

12,209‌

242,383

NMEF

Funding

2022-B

LLC,

6.070%,

06/01/49

(a)

243,808‌

46,405

Oportun

Funding

XIV

LLC,

1.210%,

03/08/28

(a)

44,572‌

18,387

Oscar

US

Funding

X

LLC,

3.270%,

05/11/26

(a)

18,388‌

13,906

Oscar

US

Funding

XII

LLC,

0.700%,

04/10/25

(a)

13,877‌

527,621

Tricon

Residential

2022-SFR2

Trust,

3.856%,

04/19/39

(a)

508,580‌

439,000

Verizon

Mater

Trust,

5.670%,

11/20/26

451,672‌

TOTAL

ASSET

BACKED

SECURITIES

(Cost $4,428,366)

4,272,119‌

Principal

Amount

($)

Fair

Value

CORPORATE

BONDS

—

25.4%

COMMUNICATIONS

—

2.1%

CABLE

&

SATELLITE

—

2.1%

98,000

AT&T,

Inc.,

4.350%,

03/01/29

96,400‌

152,000

AT&T,

Inc.,

5.400%,

02/15/34

155,981‌

615,000

Comcast

Corp.,

3.250%,

11/01/39

496,419‌

508,000

Fox

Corp.,

6.500%,

10/13/33

548,141‌

160,000

Meta

Platforms,

Inc.,

5.600%,

05/15/53

170,877‌

260,000

Verizon

Communications,

Inc.,

2.100%,

03/22/28

235,164‌

775,000

Verizon

Communications,

Inc.,

2.650%,

11/20/40

553,794‌

325,000

Walt

Disney

Co.

(The),

3.500%,

05/13/40

269,913‌

2,526,689‌

CONSUMER

DISCRETIONARY

—

1.5%

AUTOMOTIVE

—

1.5%

218,000

American

Honda

Finance

Corp.,

2.000%,

03/24/28

198,019‌

175,000

Booking

Holdings

Inc.,

3.600%,

06/01/26

171,059‌

623,000

Ford

Motor

Co.,

3.250%,

02/12/32

516,053‌

215,000

General

Motors

Financial

Co.,

Inc.,

5.800%,

01/07/29

220,809‌

614,000

General

Motors

Financial

Co.,

Inc.,

4.300%,

04/06/29

590,134‌

185,000

McDonald's

Corp.,

3.600%,

07/01/30

175,051‌

1,871,125‌

North

Square

McKee

Bond

Fund

Schedule

of

Investments

(continued)

January

31,

2024

-

(Unaudited)

Principal

Amount

($)

Fair

Value

CONSUMER

STAPLES

—

1.1%

HOUSEHOLD

PRODUCTS

—

1.1%

285,000

Altria

Group,

Inc.,

6.875%,

11/01/33

$

314,125‌

243,000

B.A.T.

Capital

Corp.,

6.421%,

08/02/33

255,025‌

390,000

Philip

Morris

International,

Inc.,

5.125%,

02/15/30

396,586‌

395,000

Procter

&

Gamble

Co.

(The),

4.550%,

01/29/34

400,466‌

1,366,202‌

ENERGY

—

2.4%

OIL

&

GAS

PRODUCERS

—

2.4%

308,000

Chevron

USA,

Inc.,

3.250%,

10/15/29

292,446‌

559,000

ConocoPhillips

Co.,

5.300%,

05/15/53

565,573‌

186,000

Energy

Transfer

LP,

6.400%,

12/01/30

198,248‌

250,000

Enterprise

Products

Operating

LLC,

4.800%,

02/01/49

236,339‌

195,000

Exxon

Mobil

Corp.,

2.440%,

08/16/29

177,056‌

37,000

Exxon

Mobil

Corp.,

4.227%,

03/19/40

34,126‌

865,000

Exxon

Mobil

Corp.,

4.327%,

03/19/50

773,783‌

800,000

TransCanada

PipeLines

Ltd.,

2.500%,

10/12/31

669,682‌

2,947,253‌

FINANCIALS

—

9.0%

ASSET

MANAGEMENT

—

9.0%

1,452,000

Bank

of

America

Corp.,

1.658%,

03/11/27

1,351,745‌

345,000

Bank

of

Montreal,

1.850%,

05/01/25

332,212‌

414,000

Bank

of

Nova

Scotia

(The),

1.300%,

06/11/25

394,136‌

500,000

Canadian

Imperial

Bank

of

Commerce,

5.001%,

04/28/28

503,834‌

851,000

Capital

One

Financial

Corp.,

1.878%,

11/02/27

773,930‌

144,000

Charles

Schwab

Corp.

(The),

5.643%,

05/19/29

147,413‌

198,000

F.N.B

Corp.,

5.150%,

08/05/32

196,314‌

1,137,000

Goldman

Sachs

Group,

Inc.

(The),

1.431%,

03/09/27

1,052,529‌

1,019,000

Goldman

Sachs

Group,

Inc.

(The),

1.992%,

01/27/32

(b)

829,873‌

629,000

JPMorgan

Chase

&

Co.,

Inc.,

1.578%,

04/22/27

(b)

583,994‌

160,000

JPMorgan

Chase

&

Co.,

Inc.,

1.953%,

02/04/32

(b)

130,671‌

275,000

Morgan

Stanley,

0.790%,

05/30/25

269,851‌

695,000

Morgan

Stanley,

1.593%,

05/04/27

(b)

643,806‌

71,000

PNC

Financial

Services

Group,

Inc.

(The),

5.582%,

06/12/29

72,510‌

298,000

PNC

Financial

Services

Group,

Inc.

(The),

5.068%,

01/24/34

(b)

293,495‌

300,000

Royal

Bank

of

Canada,

5.150%,

02/01/34

300,817‌

282,000

Toronto-Dominion

Bank

(The),

1.200%,

06/03/26

260,025‌

400,000

Toronto-Dominion

Bank

(The),

4.693%,

09/15/27

399,476‌

394,000

Toronto-Dominion

Bank

(The),

3.200%,

03/10/32

347,466‌

257,000

United

Airlines

2023-1

Class

A

Pass

Through

Trust,

5.800%,

07/15/36

261,940‌

867,000

US

Bancorp,

4.653%,

02/01/29

(b)

854,662‌

779,000

Wells

Fargo

&

Co.,

3.526%,

03/24/28

(b)

746,811‌

346,000

Wells

Fargo

&

Co.,

4.897%,

07/25/33

(b)

338,308‌

11,085,818‌

North

Square

McKee

Bond

Fund

Schedule

of

Investments

(continued)

January

31,

2024

-

(Unaudited)

Principal

Amount

($)

Fair

Value

HEALTH

CARE

—

1.0%

BIOTECH

&

PHARMA

—

1.0%

247,000

Amgen,

Inc.,

5.650%,

03/02/53

$

254,684‌

369,000

CVS

Health

Corp.,

3.750%,

04/01/30

345,774‌

250,000

Gilead

Sciences,

Inc.,

3.650%,

03/01/26

244,498‌

395,000

Pfizer

Investment

Enterprises

PTE

Ltd.,

5.110%,

05/19/43

392,933‌

1,237,889‌

INDUSTRIALS

—

2.2%

AEROSPACE

&

DEFENSE

—

2.2%

175,514

BNSF

Railway

Co.

2015-1

Pass

Through

Trust,

3.442%,

06/16/28

(a)

168,481‌

867,000

Boeing

Co.,

4.875%,

05/01/25

862,258‌

725,000

Burlington

Northern

Santa

Fe,

LLC,

4.550%,

09/01/44

674,911‌

376,972

FedEx

Corp.

2020-1

Class

AA

Pass

Through

Trust,

1.875%,

02/20/34

316,688‌

227,000

John

Deere

Capital

Corp.,

4.700%,

06/10/30

229,717‌

9,064

Union

Pacific

Railroad

Co.

2005

Pass

Through

Trust,

5.082%,

01/02/29

9,149‌

137,390

Union

Pacific

Railroad

Co.

2014-1

Pass

Through

Trust,

3.227%,

05/14/26

132,656‌

250,000

Waste

Connections

Inc.,

4.250%,

12/01/28

247,534‌

2,641,394‌

MATERIALS

—

0.1%

CHEMICALS

—

0.1%

122,000

DuPont

de

Nemours,

Inc.,

4.493%,

11/15/25

121,104‌

REAL

ESTATE

—

0.2%

REAL

ESTATE

INVESTMENT

TRUSTS

—

0.2%

317,000

American

Tower

Corp.,

3.800%,

08/15/29

299,341‌

TECHNOLOGY

—

1.7%

SEMICONDUCTORS

—

1.7%

411,000

Apple,

Inc.,

4.650%,

02/23/46

404,020‌

278,000

Apple,

Inc.,

3.950%,

08/08/52

238,711‌

137,000

Intel

Corp.,

5.700%,

02/10/53

144,228‌

200,000

International

Business

Machines

Corp.,

4.150%,

05/15/39

181,939‌

200,000

International

Business

Machines

Corp.,

1.700%,

10/01/52

182,614‌

457,000

Oracle

Corp.,

2.300%,

03/25/28

415,025‌

575,000

Oracle

Corp.,

3.600%,

04/01/40

460,194‌

2,026,731‌

UTILITIES

—

4.1%

ELECTRIC

UTILITIES

—

4.1%

375,000

Alabama

Power

Co.,

3.450%,

10/01/49

283,224‌

1,246,000

Duke

Energy

Carolinas,

LLC,

5.300%,

02/15/40

1,262,853‌

North

Square

McKee

Bond

Fund

Schedule

of

Investments

(continued)

January

31,

2024

-

(Unaudited)

Principal

Amount

($)

Fair

Value

32,000

Duke

Energy

Corp.,

2.450%,

06/01/30

$

27,899‌

600,000

Electricite

de

France

SA,

6.250%,

05/23/33

(a)

640,103‌

200,000

Entergy

Corp.,

1.900%,

06/15/28

177,887‌

330,000

Florida

Power

&

Light

Co.,

5.300%,

04/01/53

337,761‌

1,150,000

MidAmerican

Energy

Co.,

4.250%,

07/15/49

997,792‌

447,000

NextEra

Energy

Capital

Holdings,

Inc.,

2.250%,

06/01/30

382,242‌

239,000

Pacific

Gas

and

Electric

Co.,

6.400%,

06/15/33

253,858‌

200,000

Virginia

Electric

and

Power

Co.,

3.150%,

01/15/26

194,200‌

469,000

Virginia

Electric

and

Power

Co.,

5.450%,

04/01/53

478,005‌

5,035,824‌

TOTAL

CORPORATE

BONDS

(Cost $31,038,065)

31,159,370‌

Principal

Amount

($)

Fair

Value

MORTGAGE-BACKED

SECURITIES

—

60.1%

200,000

Freddie

Mac

Pool,

4.500%,

05/01/39

198,481‌

1,198,277

Freddie

Mac

Pool,

3.000%,

04/01/52

1,070,959‌

309,544

Freddie

Mac

Pool,

3.500%,

05/01/52

283,192‌

484,392

Freddie

Mac

Pool,

2.500%,

09/01/51

414,517‌

573,660

Freddie

Mac

Pool,

6.000%,

02/01/53

586,369‌

1,333,275

Ginnie

Mae

II

Pool,

2.000%,

03/20/51

1,087,194‌

151,337

BBCMS

Mortgage

Trust

2022-C14,

1.727%,

02/18/55

143,893‌

300,000

DBUBS

2017-BRBK

Mortgage

Trust,

3.452%,

10/12/34

(a)

279,359‌

125,074

Ellington

Financial

Mortgage

Trust

2020-1,

2.006%,

05/25/65

(a)

121,270‌

599,988

EQUS

2021-EQAZ

Mortgage

Trust,

6.203%,

10/15/36

(a)

593,032‌

288,913

Fannie

Mae

Pool,

4.000%,

05/15/27

270,851‌

29,834

Fannie

Mae

Pool,

2.500%,

08/01/28

28,685‌

23,431

Fannie

Mae

Pool,

5.000%,

11/01/29

23,477‌

6,219

Fannie

Mae

Pool,

4.000%,

10/01/30

6,128‌

71,991

Fannie

Mae

Pool,

4.500%,

05/01/31

71,668‌

58,409

Fannie

Mae

Pool,

4.000%,

09/01/31

57,234‌

26,446

Fannie

Mae

Pool,

4.500%,

01/01/32

26,292‌

17,140

Fannie

Mae

Pool,

3.500%,

04/01/32

16,535‌

237,975

Fannie

Mae

Pool,

3.000%,

05/01/33

224,478‌

63,431

Fannie

Mae

Pool,

4.500%,

05/01/34

63,311‌

80,572

Fannie

Mae

Pool,

4.000%,

06/01/34

78,711‌

112,615

Fannie

Mae

Pool,

3.500%,

08/01/34

108,089‌

93,061

Fannie

Mae

Pool,

3.500%,

12/01/34

89,221‌

41,853

Fannie

Mae

Pool,

3.500%,

11/01/35

40,132‌

83,014

Fannie

Mae

Pool,

4.000%,

11/01/35

81,309‌

280,621

Fannie

Mae

Pool,

2.000%,

05/01/36

253,868‌

439,791

Fannie

Mae

Pool,

2.000%,

03/01/37

398,128‌

97,430

Fannie

Mae

Pool,

4.000%,

07/01/37

95,038‌

100,951

Fannie

Mae

Pool,

3.500%,

10/13/37

93,135‌

North

Square

McKee

Bond

Fund

Schedule

of

Investments

(continued)

January

31,

2024

-

(Unaudited)

Principal

Amount

($)

Fair

Value

92,212

Fannie

Mae

Pool,

3.500%,

12/01/37

$

88,504‌

87,511

Fannie

Mae

Pool,

4.000%,

12/01/37

85,721‌

63,207

Fannie

Mae

Pool,

4.000%,

06/01/38

61,895‌

2,594

Fannie

Mae

Pool,

4.000%,

03/01/39

2,500‌

259,292

Fannie

Mae

Pool,

3.000%,

01/01/40

238,282‌

39,940

Fannie

Mae

Pool,

4.500%,

01/01/40

39,762‌

29,457

Fannie

Mae

Pool,

4.500%,

01/01/40

29,235‌

10,077

Fannie

Mae

Pool,

4.500%,

07/01/40

10,032‌

299,799

Fannie

Mae

Pool,

2.000%,

08/01/40

258,569‌

68,853

Fannie

Mae

Pool,

4.000%,

09/01/40

67,619‌

3,395

Fannie

Mae

Pool,

4.000%,

09/01/40

3,270‌

16,136

Fannie

Mae

Pool,

4.500%,

09/01/40

16,064‌

193,008

Fannie

Mae

Pool,

2.500%,

10/01/40

170,143‌

288,356

Fannie

Mae

Pool,

3.000%,

10/01/40

261,910‌

232,554

Fannie

Mae

Pool,

2.000%,

11/01/40

197,672‌

11,795

Fannie

Mae

Pool,

4.500%,

11/01/40

11,697‌

28,047

Fannie

Mae

Pool,

4.500%,

12/01/40

27,922‌

139,784

Fannie

Mae

Pool,

2.000%,

01/01/41

119,804‌

5,110

Fannie

Mae

Pool,

4.000%,

01/01/41

4,920‌

47,542

Fannie

Mae

Pool,

4.000%,

01/01/41

45,768‌

25,507

Fannie

Mae

Pool,

4.000%,

01/01/41

24,555‌

383,642

Fannie

Mae

Pool,

2.500%,

02/01/41

338,187‌

343,179

Fannie

Mae

Pool,

1.500%,

03/01/41

283,058‌

213,837

Fannie

Mae

Pool,

2.500%,

03/01/41

188,500‌

67,912

Fannie

Mae

Pool,

4.500%,

04/01/41

67,608‌

12,893

Fannie

Mae

Pool,

4.500%,

05/01/41

12,811‌

453,126

Fannie

Mae

Pool,

2.500%,

09/01/41

399,271‌

466,962

Fannie

Mae

Pool,

2.500%,

10/01/41

412,840‌

8,705

Fannie

Mae

Pool,

4.000%,

10/01/41

8,380‌

283,769

Fannie

Mae

Pool,

2.500%,

11/01/41

249,028‌

18,038

Fannie

Mae

Pool,

3.000%,

09/01/42

16,414‌

167,891

Fannie

Mae

Pool,

3.000%,

04/01/43

151,760‌

269,377

Fannie

Mae

Pool,

3.500%,

07/01/43

250,900‌

36,419

Fannie

Mae

Pool,

3.500%,

01/01/44

33,915‌

334,311

Fannie

Mae

Pool,

3.000%,

04/01/45

303,622‌

30,740

Fannie

Mae

Pool,

3.500%,

12/01/45

28,487‌

151,454

Fannie

Mae

Pool,

4.500%,

03/01/46

150,776‌

91,985

Fannie

Mae

Pool,

3.000%,

04/01/46

82,425‌

167,432

Fannie

Mae

Pool,

2.500%,

05/01/46

143,016‌

118,291

Fannie

Mae

Pool,

3.000%,

06/01/46

107,432‌

84,935

Fannie

Mae

Pool,

3.500%,

06/01/46

78,839‌

61,475

Fannie

Mae

Pool,

3.000%,

10/01/46

54,918‌

5,614

Fannie

Mae

Pool,

3.000%,

11/01/46

5,021‌

164,970

Fannie

Mae

Pool,

3.000%,

02/01/47

147,366‌

698,055

Fannie

Mae

Pool,

2.500%,

11/01/47

600,498‌

249,350

Fannie

Mae

Pool,

2.500%,

12/01/47

214,670‌

North

Square

McKee

Bond

Fund

Schedule

of

Investments

(continued)

January

31,

2024

-

(Unaudited)

Principal

Amount

($)

Fair

Value

44,885

Fannie

Mae

Pool,

3.500%,

03/01/48

$

41,593‌

181,621

Fannie

Mae

Pool,

2.500%,

04/01/48

156,483‌

98,603

Fannie

Mae

Pool,

3.000%,

04/01/48

87,957‌

282,652

Fannie

Mae

Pool,

3.500%,

08/01/48

260,763‌

92,763

Fannie

Mae

Pool,

3.500%,

11/01/48

85,960‌

7,611

Fannie

Mae

Pool,

4.500%,

11/01/48

7,467‌

120,551

Fannie

Mae

Pool,

3.000%,

12/01/48

107,661‌

39,995

Fannie

Mae

Pool,

3.000%,

02/01/49

35,649‌

16,343

Fannie

Mae

Pool,

3.500%,

02/01/49

15,080‌

481,132

Fannie

Mae

Pool,

3.500%,

09/01/49

431,360‌

89,374

Fannie

Mae

Pool,

3.000%,

12/01/49

79,223‌

367,888

Fannie

Mae

Pool,

2.500%,

04/01/50

304,472‌

260,794

Fannie

Mae

Pool,

2.500%,

05/01/50

215,837‌

374,065

Fannie

Mae

Pool,

2.500%,

06/01/50

321,100‌

220,281

Fannie

Mae

Pool,

5.000%,

06/01/50

221,077‌

133,634

Fannie

Mae

Pool,

3.500%,

08/01/50

124,363‌

121,986

Fannie

Mae

Pool,

2.500%,

10/01/50

104,611‌

340,053

Fannie

Mae

Pool,

2.500%,

02/01/51

292,005‌

372,600

Fannie

Mae

Pool,

2.500%,

02/01/51

316,542‌

292,617

Fannie

Mae

Pool,

2.000%,

03/01/51

241,289‌

329,321

Fannie

Mae

Pool,

2.500%,

06/01/51

281,202‌

682,615

Fannie

Mae

Pool,

2.500%,

06/01/51

583,272‌

1,252,495

Fannie

Mae

Pool,

2.500%,

07/01/51

1,063,717‌

747,297

Fannie

Mae

Pool,

2.500%,

08/01/51

635,188‌

266,309

Fannie

Mae

Pool,

2.500%,

10/01/51

224,914‌

254,870

Fannie

Mae

Pool,

3.000%,

01/01/52

223,844‌

309,370

Fannie

Mae

Pool,

3.500%,

01/01/52

283,551‌

415,771

Fannie

Mae

Pool,

2.000%,

02/01/52

339,051‌

531,918

Fannie

Mae

Pool,

2.000%,

02/01/52

436,053‌

367,151

Fannie

Mae

Pool,

3.000%,

02/01/52

324,203‌

338,524

Fannie

Mae

Pool,

6.500%,

01/01/53

347,736‌

207,541

Fannie

Mae

Pool,

5.500%,

07/01/53

208,491‌

410,199

Fannie

Mae

Pool,

6.000%,

09/01/53

423,277‌

487,009

Fannie

Mae

Pool,

2.500%,

10/01/53

411,634‌

146,058

Fannie

Mae

Pool,

4.000%,

07/01/56

138,094‌

5,771

Fannie

Mae

REMICS,

5.500%,

01/25/26

5,721‌

85,188

Fannie

Mae

REMICS,

4.000%,

04/25/33

83,840‌

3,100

Fannie

Mae

REMICS,

5.000%,

08/25/35

3,132‌

228,000

Fannie

Mae

REMICS,

3.500%,

10/25/37

216,911‌

23

Fannie

Mae

REMICS,

2.000%,

07/25/41

23‌

34,666

Fannie

Mae

REMICS,

2.000%,

12/25/41

31,349‌

106,716

Fannie

Mae

REMICS,

3.500%,

02/25/43

99,966‌

395,509

Fannie

Mae

REMICS,

3.000%,

06/25/43

378,612‌

3,379

Fannie

Mae

REMICS,

3.500%,

08/25/43

3,322‌

65,519

Fannie

Mae

REMICS,

2.000%,

10/25/44

58,268‌

34,777

Fannie

Mae

REMICS,

3.000%,

04/25/45

32,435‌

North

Square

McKee

Bond

Fund

Schedule

of

Investments

(continued)

January

31,

2024

-

(Unaudited)

Principal

Amount

($)

Fair

Value

76,758

Fannie

Mae

REMICS,

3.500%,

09/25/48

$

72,663‌

60,646

Fannie

Mae

REMICS,

3.000%,

07/25/49

54,003‌

378,013

Fannie

Mae

REMICS,

5.000%,

01/25/53

373,747‌

8,935

Fannie

Mae

REMICS,

3.500%,

06/25/53

8,421‌

12,109

Fannie

Mae

Trust

2003-W8,

5.809%,

05/25/42

12,065‌

318,000

Federal

Farm

Credit

Banks

Funding

Corp.,

5.680%,

08/21/30

321,732‌

2,210,000

Federal

Farm

Credit

Banks

Funding

Corp.,

5.700%,

09/05/30

2,238,339‌

687,000

Federal

Farm

Credit

Banks

Funding

Corp.,

2.950%,

02/17/32

615,724‌

959,000

Federal

Farm

Credit

Banks

Funding

Corp.,

2.940%,

02/23/32

858,115‌

1,984,000

Federal

Farm

Credit

Banks

Funding

Corp.,

3.000%,

03/08/32

1,781,611‌

3,050,000

Federal

Farm

Credit

Banks

Funding

Corp.,

2.390%,

01/19/33

2,579,864‌

2,753,000

Federal

Farm

Credit

Banks

Funding

Corp.,

5.950%,

07/11/33

2,753,964‌

1,000,000

Federal

Farm

Credit

Banks

Funding

Corp.,

2.200%,

11/01/33

814,300‌

1,145,000

Federal

Farm

Credit

Banks

Funding

Corp.,

5.980%,

12/27/33

1,144,971‌

1,378,000

Federal

Farm

Credit

Banks

Funding

Corp.,

2.480%,

02/01/34

1,154,232‌

1,280,000

Federal

Farm

Credit

Banks

Funding

Corp.,

2.550%,

12/21/34

1,046,098‌

825,000

Federal

Farm

Credit

Banks

Funding

Corp.,

3.250%,

02/23/35

722,088‌

770,000

Federal

Farm

Credit

Banks

Funding

Corp.,

2.490%,

06/30/36

595,587‌

1,712,000

Federal

Farm

Credit

Banks

Funding

Corp.,

3.360%,

02/23/37

1,452,756‌

1,100,000

Federal

Home

Loan

Banks,

5.150%,

01/29/29

1,097,559‌

680,000

Federal

Home

Loan

Banks,

2.640%,

02/25/32

590,437‌

1,000,000

Federal

Home

Loan

Banks,

1.500%,

09/30/33

755,130‌

685,000

Federal

Home

Loan

Banks,

2.750%,

02/22/34

579,476‌

360,000

Federal

Home

Loan

Banks,

2.900%,

02/18/37

289,833‌

601,000

Federal

Home

Loan

Mortgage

Corp.,

5.700%,

01/26/29

601,036‌

2,888,000

Federal

National

Mortgage

Association,

1.600%,

08/24/35

2,074,544‌

4,650,000

Federal

National

Mortgage

Association,

1.630%,

09/14/35

3,373,518‌

55,179

Freddie

Mac

Gold

Pool,

4.500%,

05/01/31

54,933‌

4,843

Freddie

Mac

Gold

Pool,

4.000%,

09/01/31

4,753‌

35,099

Freddie

Mac

Gold

Pool,

3.500%,

06/01/33

33,806‌

93,728

Freddie

Mac

Gold

Pool,

4.000%,

11/01/33

91,915‌

12,306

Freddie

Mac

Gold

Pool,

3.500%,

07/01/36

11,744‌

20,927

Freddie

Mac

Gold

Pool,

4.500%,

12/01/39

20,864‌

20,538

Freddie

Mac

Gold

Pool,

4.000%,

01/01/41

19,799‌

38,220

Freddie

Mac

Gold

Pool,

3.000%,

11/01/42

34,781‌

80,986

Freddie

Mac

Gold

Pool,

3.500%,

12/01/42

75,933‌

238,392

Freddie

Mac

Gold

Pool,

3.000%,

12/01/46

213,382‌

538,691

Freddie

Mac

Gold

Pool,

3.000%,

12/01/46

481,951‌

59,833

Freddie

Mac

Gold

Pool,

3.000%,

01/01/47

53,519‌

39,717

Freddie

Mac

Multifamily

Structured

Pass

Through

Certificates,

5.172%,

01/25/46

39,465‌

556,825

Freddie

Mac

Pool,

2.500%,

03/15/28

475,335‌

302,304

Freddie

Mac

Pool,

3.500%,

06/15/29

277,322‌

478,562

Freddie

Mac

Pool,

2.000%,

09/01/36

430,679‌

298,488

Freddie

Mac

Pool,

3.000%,

07/01/38

278,324‌

393,813

Freddie

Mac

Pool,

3.000%,

09/01/39

363,896‌

North

Square

McKee

Bond

Fund

Schedule

of

Investments

(continued)

January

31,

2024

-

(Unaudited)

Principal

Amount

($)

Fair

Value

154,784

Freddie

Mac

Pool,

2.500%,

04/01/42

$

134,527‌

400,913

Freddie

Mac

Pool,

3.000%,

05/01/42

359,234‌

31,256

Freddie

Mac

Pool,

3.500%,

01/01/48

28,962‌

136,509

Freddie

Mac

Pool,

2.000%,

08/01/50

112,465‌

235,508

Freddie

Mac

Pool,

2.500%,

11/01/50

199,354‌

188,053

Freddie

Mac

Pool,

2.500%,

12/01/50

160,521‌

315,404

Freddie

Mac

Pool,

2.000%,

02/01/51

255,638‌

454,145

Freddie

Mac

Pool,

2.500%,

03/01/51

387,031‌

259,268

Freddie

Mac

Pool,

2.000%,

05/01/51

212,355‌

1,013,921

Freddie

Mac

Pool,

3.500%,

09/01/51

939,519‌

387,381

Freddie

Mac

Pool,

2.000%,

11/01/51

313,628‌

502,842

Freddie

Mac

Pool,

3.000%,

12/01/51

441,338‌

224,596

Freddie

Mac

Pool,

2.500%,

02/01/52

190,639‌

451,808

Freddie

Mac

Pool,

3.000%,

08/01/52

399,862‌

358,048

Freddie

Mac

Pool,

6.000%,

05/01/53

365,257‌

295,880

Freddie

Mac

Pool,

5.500%,

06/01/53

297,279‌

464,691

Freddie

Mac

Pool,

5.500%,

09/01/53

468,915‌

5,844

Freddie

Mac

REMICS,

4.500%,

09/15/25

5,796‌

102,242

Freddie

Mac

REMICS,

3.500%,

08/15/27

100,435‌

102,370

Freddie

Mac

REMICS,

3.000%,

08/15/40

99,292‌

13,173

Freddie

Mac

REMICS,

2.000%,

12/15/41

11,999‌

49,530

Freddie

Mac

REMICS,

3.000%,

05/15/43

47,650‌

18,147

Freddie

Mac

REMICS,

3.000%,

11/15/43

17,654‌

82,157

Freddie

Mac

REMICS,

2.000%,

03/25/44

75,338‌

163,099

Freddie

Mac

REMICS,

3.000%,

08/15/44

153,963‌

269,426

Freddie

Mac

REMICS,

2.000%,

05/25/46

237,755‌

273,717

Freddie

Mac

REMICS,

3.000%,

06/25/48

248,186‌

122,952

Freddie

Mac

REMICS,

1.000%,

04/25/49

100,220‌

448,350

Freddie

Mac

REMICS,

4.000%,

10/25/49

429,571‌

51,426

Freddie

Mac

REMICS,

1.000%,

01/25/50

37,860‌

390,136

Freddie

Mac

REMICS,

1.000%,

09/25/50

293,852‌

169,895

Freddie

Mac

REMICS,

3.250%,

04/15/53

163,642‌

35,290

Freddie

Mac

REMICS,

3.000%,

01/15/55

33,756‌

91,331

Freddie

Mac

Structured

Pass-Through

Certificates,

6.412%,

07/25/44

(c)

84,923‌

14,276

Freddie

Mac

Structured

Pass-Through

Certificates,

6.212%,

10/25/44

(c)

12,973‌

15,132

Ginnie

Mae

I

Pool,

4.000%,

11/15/24

14,970‌

292,755

Ginnie

Mae

I

Pool,

3.020%,

09/15/41

262,744‌

289,196

Ginnie

Mae

I

Pool,

3.000%,

08/15/45

261,136‌

55,655

Ginnie

Mae

II

Pool,

3.500%,

04/20/27

54,568‌

20,807

Ginnie

Mae

II

Pool,

3.500%,

07/20/27

20,387‌

539,861

Ginnie

Mae

II

Pool,

3.500%,

12/20/34

520,554‌

51,023

Ginnie

Mae

II

Pool,

5.000%,

07/20/48

51,461‌

374,869

Ginnie

Mae

II

Pool,

3.500%,

01/20/50

350,109‌

467,670

Ginnie

Mae

II

Pool,

2.500%,

09/20/51

399,928‌

North

Square

McKee

Bond

Fund

Schedule

of

Investments

(continued)

January

31,

2024

-

(Unaudited)

Principal

Amount

($)

Fair

Value

383,648

Ginnie

Mae

II

Pool,

3.000%,

10/20/51

$

343,222‌

363,755

Ginnie

Mae

II

Pool,

5.500%,

09/01/53

370,362‌

504,622

Ginnie

Mae

II

Pool,

6.000%,

09/20/53

514,574‌

98

Government

National

Mortgage

Association,

5.000%,

12/20/27

97‌

1,134,782

Government

National

Mortgage

Association,

3.000%,

09/20/33

1,057,927‌

425,505

Government

National

Mortgage

Association,

5.500%,

11/20/33

432,252‌

297,733

Government

National

Mortgage

Association,

6.000%,

03/20/42

301,376‌

92,410

Government

National

Mortgage

Association,

2.750%,

06/20/42

87,932‌

8,720

Government

National

Mortgage

Association,

2.250%,

09/16/44

8,325‌

26,415

Government

National

Mortgage

Association,

2.000%,

03/20/45

23,707‌

297,054

Government

National

Mortgage

Association,

3.500%,

07/20/45

276,169‌

7,626

Government

National

Mortgage

Association,

2.500%,

10/20/45

7,288‌

16,372

Government

National

Mortgage

Association,

2.500%,

09/20/46

15,296‌

778,485

Government

National

Mortgage

Association,

3.500%,

11/20/47

756,610‌

521,000

Government

National

Mortgage

Association,

5.500%,

12/31/49

525,884‌

352,213

Government

National

Mortgage

Association,

2.000%,

03/20/50

295,699‌

130,749

Government

National

Mortgage

Association,

1.000%,

08/20/50

101,015‌

156,641

Government

National

Mortgage

Association,

1.250%,

05/20/51

123,500‌

1,662,513

Government

National

Mortgage

Association,

1.750%,

09/20/51

1,438,130‌

145,000

ILPT

Trust

2019-SURF,

4.145%,

02/13/41

(a)

137,613‌

413,000

Morgan

Stanley

Capital

I

Trust

2016-UBS12,

3.596%,

12/17/49

391,372‌

337,000

Morgan

Stanley

Capital

I

Trust

2016-UBS9,

3.594%,

03/17/49

322,589‌

925,000

PSMC

2020-3

Trust,

3.000%,

11/25/50

(a)

729,249‌

430,000

RLGH

Trust

2021-TROT,

6.248%,

04/15/36

(a)

424,189‌

77,292

Seasoned

Credit

Risk

Transfer

Trust,

2.000%,

11/25/60

66,281‌

334,000

UBS

Commercial

Mortgage

Trust,

2.921%,

10/18/52

299,181‌

419,633

UMBS

Freddie

Mac

Pool,

5.000%,

07/01/53

416,775‌

North

Square

McKee

Bond

Fund

Schedule

of

Investments

(continued)

January

31,

2024

-

(Unaudited)

Principal

Amount

($)

Fair

Value

160,000

Wells

Fargo

Commercial

Mortgage

Trust

2016-C35,

2.931%,

07/17/48

$

150,386‌

351,000

Wells

Fargo

Commercial

Mortgage

Trust

2017-RB1,

3.635%,

03/15/50

331,976‌

140,298

Wells

Fargo

Commercial

Mortgage

Trust

2021-SAVE,

6.598%,

02/15/40

(a),(c)

137,052‌

TOTAL

MORTGAGE-BACKED

SECURITIES

(Cost $77,525,834)

73,555,928‌

Principal

Amount

($)

Fair

Value

NON

U.S.

GOVERNMENT

&

AGENCIES

—

2.3%

SUPRANATIONAL

—

2.3%

509,000

International

Bank

for

Reconstruction

&

Development,

5.750%,

06/27,33

509,907‌

360,000

International

Bank

for

Reconstruction

&

Development,

5.750%,

08/26/33

361,849‌

420,000

International

Bank

for

Reconstruction

&

Development,

6.400%,

10/11/33

421,286‌

1,913,000

International

Bank

for

Reconstruction

&

Development,

2.700%,

12/28/37

1,509,571‌

TOTAL

NON

U.S.

GOVERNMENT

&

AGENCIES

(Cost $3,086,349)

2,802,613‌

Principal

Amount

($)

Fair

Value

U.S.

GOVERNMENT

&

AGENCIES

—

6.9%

1,441,000

United

States

Treasury

Bond,

4.750%,

11/15/43

1,525,884‌

1,900,000

United

States

Treasury

Bond,

4.750%,

11/15/53

2,074,859‌

1,838,000

United

States

Treasury

Note,

3.750%,

12/31/28

1,827,733‌

876,000

United

States

Treasury

Note,

4.500%,

11/15/33

914,873‌

1,270,000

United

States

Treasury

Note/Bond,

3.750%,

12/31/30

1,257,399‌

910,000

United

States

Treasury

Note/Bond,

4.125%,

08/15/53

895,070‌

8,495,818‌

TOTAL

U.S.

GOVERNMENT

&

AGENCIES

(Cost $8,418,756)

8,495,818‌

North

Square

McKee

Bond

Fund

Schedule

of

Investments

(continued)

January

31,

2024

-

(Unaudited)

Shares

Fair

Value

SHORT-TERM

INVESTMENTS

—

1.7%

2,045,341‌

First

American

Treasury

Obligations

Fund,

Class

X,

5.25%

(d)

$

2,045,341‌

TOTAL

SHORT-TERM

INVESTMENTS

(Cost $2,045,341)

2,045,341‌

TOTAL

INVESTMENTS

-

99.9%

(Cost

$126,542,711)

$

122,331,189‌

Other

Assets

in

Excess

of

Liabilities-

0.1%

128,822‌

NET

ASSETS

-

100.0%

$

122,460,011‌

(a)

Security

exempt

from

registration

under

Rule

144A

or

Section

4(2)

of

the

Securities

Act

of

1933.

The

security

may

be

resold

in

transactions

exempt

from

registration,

normally

to

qualified

institutional

buyers. As

of

January

31,

2024

the

total

market

value

of

144A

securities

is

7,050,795

or

5.8%

of

net

assets.

(b)

Variable

rate

security;

the

rate

shown

represents

the

rate

on

January

31,

2024.

(c)

Variable

or

floating

rate

security,

the

interest

rate

of

which

adjusts

periodically

based

on

changes

in

current

interest

rates

and

prepayments

on

the

underlying

pool

of

assets.

(d)

Rate

disclosed

is

the

seven

day

effective

yield

as

of

January

31,

2024.

North

Square

Strategic

Income

Fund

Schedule

of

Investments

January

31,

2024

-

(Unaudited)

Shares

Fair

Value

COMMON

STOCKS

—

14.6%

ENERGY

-

3.2%

ENERGY

EQUIPMENT

&

SERVICES

-

0.4%

13,183

Schlumberger

Ltd.

$

642,012

OIL

&

GAS

PRODUCERS

-

2.8%

6,458

ConocoPhillips

(a)

722,456

3,102

Marathon

Petroleum

Corp.

(a)

513,691

24,404

Occidental

Petroleum

Corp.

(a)

1,404,938

11,110

Phillips

66

(a)

1,603,285

4,244,370

TOTAL

ENERGY

4,886,382

HEALTH

CARE

-

1.0%

MEDICAL

EQUIPMENT

&

DEVICES

-

1.0%

4,479

Stryker

Corp.

(a)

1,502,615

TOTAL

HEALTH

CARE

1,502,615

INDUSTRIALS

-

1.5%

ELECTRICAL

EQUIPMENT

-

0.8%

4,676

Eaton

Corp.

PLC

(a)

1,150,670

MACHINERY

-

0.7%

2,400

Parker-Hannifin

Corp.

(a)

1,114,800

TOTAL

INDUSTRIALS

2,265,470

MATERIALS

-

2.2%

METALS

&

MINING

-

2.2%

13,773

Agnico

Eagle

Mines

Ltd.

(a)

677,081

51,186

Alamos

Gold,

Inc.,

Class

A

(a)

619,862

22,258

BHP

Group

Ltd.

-

ADR

(a)

1,362,635

18,285

Newmont

Corp.

(a)

631,015

3,290,593

TOTAL

MATERIALS

3,290,593

REAL

ESTATE

-

4.8%

REAL

ESTATE

-

4.8%

8,220

Digital

Realty

Trust,

Inc.

(a)

1,154,581

North

Square

Strategic

Income

Fund

Schedule

of

Investments

(continued)

January

31,

2024

-

(Unaudited)

Shares

Fair

Value

COMMON

STOCKS

—

14.6%

(Continued)

REAL

ESTATE

-

4.8%

(Continued)

1,722

Equinix,

Inc.

(a)

$

1,428,864

11,565

Prologis,

Inc.

(a)

1,465,170

18,965

Realty

Income

Corp.

(a)

1,031,506

10,603

Simon

Property

Group,

Inc.

(a)

1,469,683

8,266

Welltower,

Inc.

(a)

715,092

7,264,896

TOTAL

REAL

ESTATE

7,264,896

TECHNOLOGY

-

1.9%

SEMICONDUCTORS

-

1.9%

1,226

Broadcom,

Inc.

(a)

1,446,680

9,704

Qualcomm,

Inc.

(a)

1,441,141

2,887,821

TOTAL

TECHNOLOGY

2,887,821

TOTAL

COMMON

STOCKS

(Cost $21,789,367)

22,097,777

Shares

Fair

Value

PREFERRED

STOCKS

—

1.2%

SPECIALTY

FINANCE

—

1.2%

2,000,000

American

Express

Co.

1,787,993

TOTAL

PREFERRED

STOCKS

(Cost $1,757,598)

1,787,993

North

Square

Strategic

Income

Fund

Schedule

of

Investments

(continued)

January

31,

2024

-

(Unaudited)

Principal

Amount

($)

Fair

Value

ASSET

BACKED

SECURITIES

—

6.6%

1,423,801

Aegis

Asset

Backed

Securities

Trust

2005-2,

6.170%,

06/25/35

$

1,330,499

1,698,000

Aligned

Data

Centers

Issuer

LLC,

1.937%,

08/15/46

(b)

1,534,234

395,567

Ameriquest

Asset-Backed

Pass-Through

Certs

Series

2004-

R2,

5.880%,

04/25/34

389,437

704,570

FBR

Securitization

Trust,

5.920%,

(US0001M

+

0.705%),

11/26/35

689,928

1,380,000

HI-FI

Music

IP

Issuer

LP,

3.939%,

02/01/62

(b)

1,298,874

229,078

HSI

Asset

Securitization

Corp.

Trust

2006-OPT3,

5.720%,

02/25/36

223,781

290,000

JPMorgan

Mortgage

Acquisition

Trust

2006-CH1,

5.770%,

07/25/36

285,052

427,617

JP

Morgan

Mortgage

Acquisition

Trust

2007-CH3,

5.710%,

03/25/37

416,847

576,204

Libra

Solutions

2023-1

LLC,

7.000%,

02/15/25

(b)

576,415

858,445

Long

Beach

Mortgage

Loan

Trust

2005-1,

6.725%,

02/25/35

837,002

95,811

Oasis

Securitization

Funding

LLC,

2.143%,

10/15/33

(b)

95,266

1,922,753

Planet

Fitness

Master

Issuer

LLC,

3.251%,

12/05/51

(b)

1,799,367

56,498

RAMP

Series

2004-RS4

Trust,

6.425%,

04/25/34

56,437

504,769

Renaissance

Home

Equity

Loan

Trust

2005-3,

5.140%,

11/25/35

498,914

TOTAL

ASSET

BACKED

SECURITIES

(Cost $10,262,331)

10,032,053

Principal

Amount

($)

Fair

Value

CORPORATE

BONDS

—

48.6%

ENERGY

—

3.8%

OIL

&

GAS

PRODUCERS

—

3.8%

3,000,000

Energy

Transfer

LP,

6.625%,

Perpetual

(c)

2,716,345

3,000,000

Plains

All

American

Pipeline

LP,

9.751%,

Perpetual

(c),(d)

2,981,334

5,697,679

FINANCIALS

—

41.3%

ASSET

MANAGEMENT

—

41.3%

4,112,000

Ally

Financial,

Inc.,

4.700%,

Perpetual

(d)

3,345,471

2,000,000

Banco

Santander

SA,

4.750%,

Perpetual

1,725,715

3,500,000

BNP

Paribas

SA,

4.625%,

Perpetual

3,120,770

3,000,000

Capital

One

Financial

Corp.,

3.950%,

Perpetual

2,606,100

2,750,000

Citigroup

Inc.,

3.875%,

Perpetual

(c)

2,540,786

3,000,000

Citizens

Financial

Group,

Inc.,

6.375%,

Perpetual

(c)

2,856,382

North

Square

Strategic

Income

Fund

Schedule

of

Investments

(continued)

January

31,

2024

-

(Unaudited)

Principal

Amount

($)

Fair

Value

2,926,000

Comerica,

Inc.,

5.625%,

Perpetual

$

2,832,954

1,800,000

Commerzbank

AG,

4.250%,

Perpetual

1,643,154

1,800,000

Deutsche

Bank

AG,

4.789%,

Perpetual

1,609,265

2,512,000

Discover

Financial

Services,

5.500%,

Perpetual

(c),(d)

2,075,911

2,805,000

Fifth

Third

Bancorp,

8.625%,

Perpetual

(c),(d)

2,751,462

2,920,000

Goldman

Sachs

Group,

Inc.

(The),

4.125%,

Perpetual

2,660,234

1,254,000

HSBC

Holdings

PLC,

4.700%,

Perpetual

1,022,961

990,000

Huntington

Bancshares,

Inc.,

4.045%,

Perpetual

892,770

2,029,000

Huntington

Bancshares,

Inc.,

8.456%,

Perpetual

1,977,506

3,200,000

ING

Groep

NV,

3.875%,

Perpetual

2,639,717

3,500,000

KeyCorp,

5.000%,

(ICE

LIBOR

USD

3

Month

+

3.606%),

Perpetual

3,139,018

1,650,000

Lloyds

Banking

Group

PLC,

8.000%,

Perpetual

1,621,798

3,000,000

M&T

Bank

Corp.,

5.125%,

Perpetual

2,747,462

3,000,000

NatWest

Group

PLC,

4.600%,

Perpetual

2,268,962

1,000,000

PNC

Financial

Services

Group

Inc.,

3.400%,

Perpetual

863,307

3,000,000

Societe

Generale

SA,

4.750%,

Perpetual

2,660,810

3,500,000

Standard

Chartered

PLC,

4.300%,

Perpetual

2,819,050

3,720,000

Truist

Financial

Corp.,

4.800%,

Perpetual

3,560,039

4,000,000

UBS

Group

AG,

4.375%,

Perpetual

3,181,574

4,000,000

US

Bancorp,

3.700%,

Perpetual

(c)

3,458,814

62,621,992

UTILITIES

—

3.5%

ELECTRIC

UTILITIES

—

3.5%

4,000,000

American

Electric

Power

Co.,

Inc.,

3.875%,

02/15/62

3,537,018

1,000,000

NextEra

Energy

Capital

Holdings,

Inc.,

3.800%,

03/15/82

879,750

874,000

Vistra

Corp.,

7.000%,

(H15T5Y

+

5.740%),

Perpetual

(b)(c),(d)

848,820

5,265,588

TOTAL

CORPORATE

BONDS

(Cost $67,986,508)

73,585,259

Principal

Amount

($)

Fair

Value

MORTGAGE-BACKED

SECURITIES

—

23.3%

410,672

Colony

Multifamily

Mortgage

Trust

2014-1,

6.746%,

02/20/29

(b)

408,141

2,527,789

Fannie

Mae

Pool,

5.000%,

07/01/52

2,503,244

3,676,044

Fannie

Mae-Aces,

1.381%,

08/25/28

167,576

North

Square

Strategic

Income

Fund

Schedule

of

Investments

(continued)

January

31,

2024

-

(Unaudited)

Principal

Amount

($)

Fair

Value

1,514,052

Fannie

Mae-Aces,

0.750%,

09/25/28

$

1,397,455

2,760,466

Fannie

Mae-Aces,

1.247%,

03/26/29

134,488

584,782

Fannie

Mae-Aces,

1.000%,

11/25/33

563,895

7,690,000

Freddie

Mac

Multiclass

Certificates

Series

2015-P001,

1.826%,

10/27/28

506,783

19,617,069

Freddie

Mac

Multifamily

Structured

Pass

Through

Certificates,

0.972%,

01/25/26

(d)

264,028

278,909

Freddie

Mac

Multifamily

Structured

Pass

Through

Certificates,

1.298%,

12/25/26

264,075

39,898,073

Freddie

Mac

Multifamily

Structured

Pass

Through

Certificates,

1.509%,

01/25/27

(d)

1,400,793

30,000,000

Freddie

Mac

Multifamily

Structured

Pass

Through

Certificates,

0.471%,

03/25/27

(d)

426,729

30,893,000

Freddie

Mac

Multifamily

Structured

Pass

Through

Certificates,

0.470%,

08/25/27

(d)

473,438

811,412

Freddie

Mac

Multifamily

Structured

Pass

Through

Certificates,

1.679%,

12/25/27

750,316

25,000,000

Freddie

Mac

Multifamily

Structured

Pass

Through

Certificates,

1.979%,

04/27/29

(d)

1,333,838

13,149,645

Freddie

Mac

Multifamily

Structured

Pass

Through

Certificates,

0.950%,

06/25/29

(d)

540,783

7,570,000

Freddie

Mac

Multifamily

Structured

Pass

Through

Certificates,

1.799%,

04/25/30

(d)

715,061

7,249,000

Freddie

Mac

Multifamily

Structured

Pass

Through

Certificates,

1.868%,

04/25/30

(d)

701,905

17,217,597

Freddie

Mac

Multifamily

Structured

Pass

Through

Certificates,

1.423%,

07/25/30

(d)

1,221,005

3,332,000

Freddie

Mac

Multifamily

Structured

Pass

Through

Certificates,

1.600%,

08/25/30

(d)

291,011

1,835,000

Freddie

Mac

Multifamily

Structured

Pass

Through

Certificates,

3.178%,

04/25/48

(d)

291,530

2,750,000

Freddie

Mac

Multifamily

Structured

Pass

Through

Certificates,

2.631%,

01/25/49

(d)

379,418

1,715,000

Freddie

Mac

Multifamily

Structured

Pass

Through

Certificates,

2.620%,

02/25/49

(d)

240,326

2,894,550

Freddie

Mac

Pool,

5.500%,

06/01/53

2,912,934

1,445,000

FREMF

2016-K55

Mortgage

Trust,

4.167%,

04/25/49

(b)

1,399,996

299,856,009

FREMF

2016-K59

Mortgage

Trust,

0.100%,

11/25/49

(b),(d)

598,992

2,739,928

Ginnie

Mae

II

Pool,

3.000%,

09/20/52

2,457,766

3,730,355

Ginnie

Mae

II

Pool,

3.500%,

02/20/53

3,471,720

3,706,251

Ginnie

Mae

II

Pool,

2.500%,

03/20/53

3,215,058

1,540,283

Government

National

Mortgage

Association,

0.791%,

12/16/56

(d)

63,313

North

Square

Strategic

Income

Fund

Schedule

of

Investments

(continued)

January

31,

2024

-

(Unaudited)

Principal

Amount

($)

Fair

Value

4,545,567

Government

National

Mortgage

Association,

1.271%,

09/16/60

(d)

$

376,789

1,230,804

Government

National

Mortgage

Association,

1.056%,

11/16/60

(d)

87,863

6,898,973

Government

National

Mortgage

Association,

0.976%,

05/16/63

(d)

471,691

7,230,050

Government

National

Mortgage

Association,

0.986%,

05/16/63

(d)

494,127

8,398,332

Government

National

Mortgage

Association,

0.992%,

05/16/63

(d)

601,883

1,500,000

Independence

Plaza

Trust

2018-INDP,

4.158%,

07/12/35

(b)

1,411,087

2,655,517

UMBS

Fannie

Mae

Pool,

5.000%,

03/01/53

2,631,468

TOTAL

MORTGAGE-BACKED

SECURITIES

(Cost $34,782,537)

35,170,525

Principal

Amount

($)

Fair

Value

U.S.

GOVERNMENT

&

AGENCIES

—

1.0%

U.S.

TREASURY

NOTES

—

1.0%

1,470,000

United

States

Treasury

Note,

4.250%,

12/31/25

1,470,230

TOTAL

U.S.

GOVERNMENT

&

AGENCIES

(Cost $1,470,000)

1,470,230

Shares

Fair

Value

SHORT-TERM

INVESTMENTS

—

2.6%

3,896,377

First

American

Treasury

Obligations

Fund,

Class

X,

5.25%

(e)

3,896,377

TOTAL

SHORT-TERM

INVESTMENTS

(Cost $3,896,377)

3,896,377

Contracts

Description

Expiration

Date

Exercise

Price

Notional

Value

Fair

Value

CALL

OPTIONS

PURCHASED

-

0.6%

600

E-Mini

S&P

500

Index

03/18/2024

$

5,000

$

292,230,000

$

825,001

TOTAL

CALL

OPTIONS

PURCHASED

(Cost

-

$821,250)

825,001

TOTAL

INVESTMENTS

-

98.5%

(Cost

$142,765,968)

$

148,865,215

Other

Assets

in

Excess

of

Liabilities-

1.8%

2,786,472

NET

ASSETS

-

100.0%

$

151,247,486

(a)

All

or

a

portion

of

the

security

is

held

as

collateral

for

written

options.

North

Square

Strategic

Income

Fund

Schedule

of

Investments

(continued)

January

31,

2024

-

(Unaudited)

(b)

Security

exempt

from

registration

under

Rule

144A

or

Section

4(2)

of

the

Securities

Act

of

1933.

The

security

may

be

resold

in

transactions

exempt

from

registration,

normally

to

qualified

institutional

buyers. As

of

January

31,

2024

the

total

market

value

of

144A

securities

is

9,971,192

or

6.6%

of

net

assets.

(c)

Step-up

bond.

The

interest

rate

shown

is

the

rate

in

effect

as

of

January

31,

2024.

(d)

Variable

rate

security;

the

rate

shown

represents

the

rate

on

January

31,

2024.

(e)

Rate

disclosed

is

the

seven

day

effective

yield

as

of

January

31,

2024.

ADR

-

American

Depositary

Receipt

North

Square

Strategic

Income

Fund

Schedule

of

Written

Options

January

31,

2024

-

(Unaudited)

Description

Number

of

Contracts

Notional

Amount

Exercise

Price

Expiration

Date

Fair

Value

WRITTEN

CALL

OPTIONS

(0.27)%

Agnico

Eagle

Mines

Ltd.

(137‌)

$

673,492‌

$

55.00‌

May

2024

$

(20,208‌)

Alamos

Gold,

Inc.

(511‌)

618,821‌

15.00‌

June

2024

(17,885‌)

BHP

Group

Ltd.

(222‌)

1,359,084‌

70.00‌

May

2024

(21,090‌)

Broadcom,

Inc.

(12‌)

1,416,000‌

1,430.00‌

May

2024

(18,300‌)

Conocophillips

(64‌)

715,968‌

125.00‌

June

2024

(12,800‌)

Digital

Realty

Trust,

Inc.

(82‌)

1,151,772‌

170.00‌

June

2024

(13,120‌)

Eaton

Corp.

(46‌)

1,131,968‌

280.00‌

June

2024

(19,090‌)

Equinix,

Inc.

(17‌)

1,410,609‌

920.00‌

June

2024

(22,100‌)

Marathon

Petroleum

Corp.

(31‌)

513,360‌

190.00‌

May

2024

(7,673‌)

Newmont

Corp.

(182‌)

628,082‌

40.00‌

June

2024

(17,927‌)

Occidental

Pete

Corp.

(244‌)

1,404,708‌

65.00‌

May

2024

(27,206‌)

Parker-Hannifin

Corp.

(24‌)

1,114,800‌

530.00‌

May

2024

(13,440‌)

Phillips

66

(111‌)

1,601,841‌

155.00‌

May

2024

(45,510‌)

Prologis

Inc.

(100‌)

1,266,900‌

135.00‌

May

2024

(37,499‌)

Qualcomm

Inc.

(97‌)

1,440,547‌

170.00‌

May

2024

(31,768‌)

Realty

Income

Corp.

(189‌)

1,027,971‌

60.00‌

May

2024

(10,395‌)

Simon

Property

Group,

Inc.

(100‌)

1,386,100‌

150.00‌

April

2024

(18,750‌)

Stryker

Corp.

(44‌)

1,476,112‌

135.00‌

June

2024

(39,600‌)

Welltower,

Inc.

(82‌)

709,382‌

975.00‌

June

2024

(9,840‌)

Total

Written

Call

Options

(Premiums

Received

$388,898)

$

(404,201‌)

North

Square

Strategic

Income

Fund

Schedule

of

Futures

Contracts

January

31,

2024

-

(Unaudited)

Long

Contracts

Contracts

Expiration

Date

Notional

Amount

Value

and

Unrealized

Appreciation

(Depreciation)

10-Year

US

Treasury

Note

Future

182

03/20/2024

$

20,443,719‌

$

583,102‌

2-Year

US

Treasury

Note

Future

274

03/20/2024

56,349,813‌

479,999‌

5-Year

US

Treasury

Note

Future

288

03/29/2024

31,216,500‌

644,506‌

Japanese

Yen

Future

42

03/19/2024

3,613,838‌

(54,085‌)

1,653,522‌

Short

Contracts

Contracts

Expiration

Date

Notional

Amount

Value

and

Unrealized

Appreciation

(Depreciation)

E-Mini

S&P

500

Future

(181)

03/18/2024

$

(44,078,025‌)

$

(303,280‌)

Euro

FX

Future

(45)

03/19/2024

(6,109,032‌)

45,972‌

Ultra

10-Year

US

Treasury

Note

Future

(61)

03/20/2024

(7,129,375‌)

(200,922‌)

US

Treasury

Long

Bond

Future

(130)

03/20/2024

(15,904,688‌)

(962,813‌)

(1,421,043‌)

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