North Square Investments Trust NPORT-P North Square Trilogy Alternative Return Fund (Aug 2024 report)

North

Square

Spectrum

Alpha

Fund

Schedule

of

Investments

August

31,

2024

(Unaudited)

Shares

Fair

Value

EXCHANGE-TRADED

FUNDS

—

1.2%

4,600‌

iShares®

Russell

2000

ETF

$

1,012,368‌

TOTAL

EXCHANGE-TRADED

FUNDS

(Cost $1,021,339)

1,012,368‌

Shares

Fair

Value

MUTUAL

FUNDS

—

98.0%

1,576,800‌

North

Square

Advisory

Research

Small

Value

Fund,

Class

I

(a)

19,978,056‌

3,210,800‌

North

Square

Dynamic

Small

Cap

Fund,

Class

I

(a)(b)

50,923,282‌

795,232‌

North

Square

Kennedy

MicroCap

Fund,

Class

I

(a)

8,962,262‌

TOTAL

MUTUAL

FUNDS

(Cost $67,231,076)

79,863,600‌

Shares

Fair

Value

SHORT-TERM

INVESTMENTS

—

0.9%

736,559‌

First

American

Treasury

Obligations

Fund,

Class

X,

5.17%

(c)

736,559‌

TOTAL

SHORT-TERM

INVESTMENTS

(Cost $736,559)

736,559‌

TOTAL

INVESTMENTS

-

100.1%

(Cost

$68,988,974)

$

81,612,527‌

Liabilities

in

Excess

of

Other

Assets

-

(0.1)%

(82,096‌)

NET

ASSETS

-

100.0%

$

81,530,431‌

(a)

Affiliated

Company.

(b)

Represents

an

investment

greater

than

25%

of

the

Fund's

net

assets.

Performance

of

the

Fund

may

be

adversely

impacted

by

concentrated

investments

in

securities.

As

of

August

31,

2024,

the

percentage

of

net

assets

invested

in

North

Square

Dynamic

Small

Cap

Fund,

Class

I

was

62.5%

of

the

Fund.

(c)

Rate

disclosed

is

the

seven

day

effective

yield

as

of

August

31,

2024.

ETF

-

Exchange-Traded

Fund

North

Square

Dynamic

Small

Cap

Fund

Schedule

of

Investments

August

31,

2024

(Unaudited)

Shares

Fair

Value

COMMON

STOCKS

—

98.8%

COMMUNICATIONS

-

3.0%

INTERNET

MEDIA

&

SERVICES

-

1.2%

61,660

Despegar.com,

Corp.

(a)

$

757,801‌

146,510

Eventbrite,

Inc.,

Class

A

(a)

465,902‌

10,860

MediaAlpha,

Inc.

(a)

193,308‌

71,120

Yelp,

Inc.

(a)

2,484,222‌

3,901,233‌

TELECOMMUNICATIONS

-

1.8%

9,740

IDT

Corp.,

Class

B

373,626‌

69,060

Iridium

Communications,

Inc.

1,781,748‌

109,530

Telephone

and

Data

Systems,

Inc.

2,587,099‌

24,050

United

States

Cellular

Corp.

(a)

1,337,661‌

6,080,134‌

TOTAL

COMMUNICATIONS

9,981,367‌

CONSUMER

DISCRETIONARY

-

14.8%

AUTOMOTIVE

-

1.6%

104,670

American

Axle

&

Manufacturing

Holdings,

Inc.

(a)

673,028‌

129,100

Dana,

Inc.

1,457,539‌

1,520

Dorman

Products,

Inc.

(a)

172,398‌

81,720

Harley-Davidson,

Inc.

3,059,597‌

5,362,562‌

CONSUMER

SERVICES

-

2.2%

27,870

Adtalem

Global

Education,

Inc.

(a)

2,110,038‌

21,360

Grand

Canyon

Education,

Inc.

(a)

3,097,413‌

14,080

Universal

Technical

Institute,

Inc.

(a)

245,696‌

48,430

Upbound

Group,

Inc.

1,612,719‌

7,065,866‌

HOME

&

OFFICE

PRODUCTS

-

0.0%

(b)

12,300

Arhaus,

Inc.

(a)

151,413‌

HOME

CONSTRUCTION

-

3.6%

26,090

Century

Communities,

Inc.

2,610,826‌

22,397

Forestar

Group,

Inc.

(a)

692,963‌

28,135

Griffon

Corp.

1,862,256‌

27,221

Interface,

Inc.

513,932‌

20,180

M/I

Homes,

Inc.

(a)

3,216,088‌

66,460

TRI

Pointe

Homes,

Inc.

(a)

2,953,482‌

11,849,547‌

LEISURE

FACILITIES

&

SERVICES

-

2.6%

86,650

International

Game

Technology

PLC

1,940,094‌

45,670

Life

Time

Group

Holdings,

Inc.

(a)

1,074,158‌

20,020

OneSpaWorld

Holdings

Ltd.

317,717‌

174,690

Rush

Street

Interactive,

Inc.

(a)

1,636,845‌

20,130

St.

Joe

Company

(The)

1,195,118‌

North

Square

Dynamic

Small

Cap

Fund

Schedule

of

Investments

(continued)

August

31,

2024

(Unaudited)

Shares

Fair

Value

COMMON

STOCKS

—

98.8%

(Continued)

CONSUMER

DISCRETIONARY

-

14.8%

(Continued)

55,030

Travel

+

Leisure

Co.

$

2,435,629‌

8,599,561‌

RETAIL

-

DISCRETIONARY

-

4.5%

2,940

Abercrombie

&

Fitch

Co.,

Class

A

(a)

433,856‌

37,710

Aspen

Aerogels,

Inc.

(a)

1,081,900‌

31,750

Beacon

Roofing

Supply,

Inc.

(a)

2,876,550‌

12,065

BlueLinx

Holdings,

Inc.

(a)

1,214,222‌

17,790

Driven

Brands

Holdings,

Inc.

(a)

255,109‌

1,470

Freshpet,

Inc.

(a)

199,920‌

8,640

Genesco,

Inc.

(a)

260,842‌

41,900

GMS,

Inc.

(a)

3,636,500‌

8,950

Group

1

Automotive,

Inc.

3,372,001‌

25,210

MarineMax,

Inc.

(a)

799,661‌

5,530

Rush

Enterprises,

Inc.,

Class

A

291,431‌

14,421,992‌

WHOLESALE

-

DISCRETIONARY

-

0.3%

10,860

Eplus,

Inc.

(a)

1,042,126‌

TOTAL

CONSUMER

DISCRETIONARY

48,493,067‌

CONSUMER

STAPLES

-

7.3%

BEVERAGES

-

2.1%

4,270

Coca-Cola

Consolidated,

Inc.

5,732,048‌

22,900

National

Beverage

Corp.

1,034,164‌

6,766,212‌

FOOD

-

2.5%

83,670

BellRing

Brands,

Inc.

(a)

4,679,664‌

14,460

Cal-Maine

Foods,

Inc.

1,041,698‌

77,880

Vital

Farms,

Inc.

(a)

2,449,326‌

8,170,688‌

HOUSEHOLD

PRODUCTS

-

2.0%

18,030

Inter

Parfums,

Inc.

2,322,985‌

45,830

Spectrum

Brands

Holdings,

Inc.

4,322,686‌

6,645,671‌

RETAIL

-

CONSUMER

STAPLES

-

0.5%

18,581

PriceSmart,

Inc.

1,664,486‌

TOBACCO

&

CANNABIS

-

0.1%

12,260

Turning

Point

Brands,

Inc.

485,986‌

WHOLESALE

-

CONSUMER

STAPLES

-

0.1%

4,640

Chefs'

Warehouse,

Inc.

(The)

(a)

198,731‌

TOTAL

CONSUMER

STAPLES

23,931,774‌

North

Square

Dynamic

Small

Cap

Fund

Schedule

of

Investments

(continued)

August

31,

2024

(Unaudited)

Shares

Fair

Value

COMMON

STOCKS

—

98.8%

(Continued)

ENERGY

-

5.5%

OIL

&

GAS

PRODUCERS

-

1.7%

28,970

Civitas

Resources,

Inc.

$

1,776,730‌

34,123

NextDecade

Corp.

(a)

159,013‌

81,820

Par

Pacific

Holdings,

Inc.

(a)

1,836,041‌

49,466

Sitio

Royalties

Corp.,

Class

A

1,099,629‌

17,450

SM

Energy

Co.

796,244‌

5,667,657‌

OIL

&

GAS

SERVICES

&

EQUIPMENT

-

3.8%

42,410

Ameresco,

Inc.,

Class

A

(a)

1,291,385‌

142,000

Archrock,

Inc.

2,872,659‌

39,260

DHT

Holdings,

Inc.

425,186‌

153,990

Diamond

Offshore

Drilling,

Inc.

(a)

2,208,217‌

72,430

DNOW,

Inc.

(a)

943,039‌

86,740

Helix

Energy

Solutions

Group,

Inc.

(a)

973,223‌

4,460

International

Seaways,

Inc.

231,162‌

44,494

MRC

Global,

Inc.

(a)

585,541‌

15,830

Oceaneering

International,

Inc.

(a)

427,252‌

32,200

Scorpio

Tankers,

Inc.

2,303,587‌

13,680

Solaris

Oilfield

Infrastructure,

Inc.,

Class

A

(a)

173,462‌

12,434,713‌

TOTAL

ENERGY

18,102,370‌

FINANCIALS

-

11.8%

ASSET

MANAGEMENT

-

2.3%

23,650

Affiliated

Managers

Group,

Inc.

4,111,080‌

86,510

Federated

Hermes,

Inc.,

Class

B

2,967,293‌

2,635

Virtus

Investment

Partners,

Inc.

557,724‌

7,636,097‌

BANKING

-

7.6%

63,680

Axos

Financial,

Inc.

(a)

4,421,302‌

67,340

Bank

OZK

2,919,189‌

98,579

BankUnited,

Inc.

3,788,391‌

16,345

Customers

Bancorp,

Inc.

(a)

846,998‌

150,510

First

BanCorp

3,217,904‌

59,520

First

Foundation,

Inc.

(a)

419,021‌

22,488

Hanmi

Financial

Corp.

445,487‌

4,870

Heartland

Financial

USA,

Inc.

(a)

271,551‌

13,880

Independent

Bank

Corp.

878,743‌

21,870

Live

Oak

Bancshares,

Inc.

940,191‌

16,469

Meta

Financial

Group,

Inc.

1,133,397‌

24,030

OFG

Bancorp

1,105,140‌

21,170

Pacific

Premier

Bancorp,

Inc.

544,069‌

28,290

Synovus

Financial

Corp.

1,304,735‌

North

Square

Dynamic

Small

Cap

Fund

Schedule

of

Investments

(continued)

August

31,

2024

(Unaudited)

Shares

Fair

Value

COMMON

STOCKS

—

98.8%

(Continued)

FINANCIALS

-

11.8%

(Continued)

33,350

Western

Alliance

Bancorp

$

2,724,028‌

24,960,146‌

INSURANCE

-

0.8%

43,160

Brighthouse

Financial,

Inc.

(a)

1,981,044‌

80,450

Genworth

Financial,

Inc.,

Class

A

(a)

561,541‌

25,061

James

River

Group

Holdings

Ltd.

185,451‌

2,728,036‌

SPECIALTY

FINANCE

-

1.1%

14,550

Dave

Inc.

(a)

547,080‌

25,452

Enact

Holdings,

Inc.

904,819‌

26,780

LendingClub

Corp.

(a)

325,377‌

38,710

PROG

Holdings,

Inc.

1,810,079‌

3,587,355‌

TOTAL

FINANCIALS

38,911,634‌

HEALTH

CARE

-

13.9%

BIOTECH

&

PHARMA

-

9.8%

182,810

ACADIA

Pharmaceuticals,

Inc.

(a)

3,030,989‌

56,460

ACELYRIN,

Inc.

(a)

269,879‌

77,510

ADMA

Biologics,

Inc.

(a)

1,341,698‌

172,650

Amneal

Pharmaceuticals,

Inc.

(a)

1,495,149‌

19,520

Amphastar

Pharmaceuticals,

Inc.

(a)

951,405‌

14,690

Apellis

Pharmaceuticals,

Inc.

(a)

571,441‌

33,480

Arvinas,

Inc.

(a)

875,837‌

40,060

BioCryst

Pharmaceuticals,

Inc.

(a)

348,121‌

20,800

Blueprint

Medicines

Corp.

(a)

1,987,232‌

10,320

Bridgebio

Pharma,

Inc.

(a)

287,412‌

14,990

Cogent

Biosciences,

Inc.

(a)

160,993‌

41,120

Dyne

Therapeutics,

Inc.

(a)

1,895,221‌

79,450

Geron

Corp.

(a)

377,388‌

40,660

Harmony

Biosciences

Holdings,

Inc.

(a)

1,462,947‌

6,554

Immunovant,

Inc.

(a)

202,519‌

1,690

Insmed,

Inc.

(a)

129,234‌

6,390

Kiniksa

Pharmaceuticals

International

PLC

(a)

170,869‌

86,210

Kura

Oncology,

Inc.

(a)

1,815,583‌

57,420

Merus

NV

(a)

2,927,845‌

10,200

PetIQ,

Inc.,

Class

A

(a)

311,610‌

58,548

Protagonist

Therapeutics,

Inc.

(a)

2,511,124‌

132,080

Relay

Therapeutics,

Inc.

(a)

896,823‌

31,550

Rhythm

Pharmaceuticals,

Inc.

(a)

1,492,000‌

131,440

Syndax

Pharmaceuticals

(a)

2,701,092‌

18,200

TG

Therapeutics,

Inc.

(a)

427,518‌

4,300

TransMedics

Group,

Inc.

(a)

722,658‌

7,400

Ultragenyx

Pharmaceutical,

Inc.

(a)

420,172‌

North

Square

Dynamic

Small

Cap

Fund

Schedule

of

Investments

(continued)

August

31,

2024

(Unaudited)

Shares

Fair

Value

COMMON

STOCKS

—

98.8%

(Continued)

HEALTH

CARE

-

13.9%

(Continued)

51,580

Xenon

Pharmaceuticals,

Inc.

(a)

$

2,080,737‌

23,310

Zai

Lab

Ltd

-

ADR

(a)

464,801‌

32,330,297‌

HEALTH

CARE

FACILITIES

&

SERVICES

-

1.1%

73,270

Accolade,

Inc.

(a)

317,992‌

36,840

GeneDx

Holdings

Corp.

(a)

1,176,670‌

92,930

Owens

&

Minor,

Inc.

(a)

1,444,132‌

19,920

Pennant

Group,

Inc.

(The)

(a)

682,459‌

3,621,253‌

MEDICAL

EQUIPMENT

&

DEVICES

-

3.0%

97,840

10X

Genomics,

Inc.,

Class

A

(a)

2,284,563‌

31,750

Castle

Biosciences,

Inc.

(a)

942,023‌

12,690

Inspire

Medical

Systems,

Inc.

(a)

2,281,915‌

38,490

Orthofix

Medical,

Inc.

(a)

671,266‌

16,620

RxSight,

Inc.

(a)

937,202‌

15,760

STAAR

Surgical

Co.

(a)

521,498‌

16,487

Surmodics,

Inc.

(a)

653,380‌

46,590

Veracyte,

Inc.

(a)

1,469,915‌

9,761,762‌

TOTAL

HEALTH

CARE

45,713,312‌

INDUSTRIALS

-

16.0%

AEROSPACE

&

DEFENSE

-

0.5%

1,480

Moog,

Inc.,

Class

A

292,152‌

86,760

Triumph

Group,

Inc.

(a)

1,208,567‌

1,500,719‌

COMMERCIAL

SUPPORT

SERVICES

-

4.2%

61,094

ABM

Industries,

Inc.

3,491,522‌

31,010

Brady

Corp.,

Class

A

2,295,980‌

18,230

Cimpress

PLC

(a)

1,802,582‌

5,247

CorVel

Corp.

(a)

1,682,870‌

2,800

Huron

Consulting

Group,

Inc.

(a)

309,232‌

39,300

Korn

Ferry

International

2,870,865‌

78,650

Vestis

Corp.

1,106,606‌

13,559,657‌

ELECTRICAL

EQUIPMENT

-

3.1%

27,870

Atmus

Filtration

Technologies

Inc.

(a)

999,140‌

16,890

Badger

Meter,

Inc.

3,495,217‌

46,460

Itron,

Inc.

(a)

4,749,140‌

6,590

Powell

Industries,

Inc.

1,103,430‌

10,346,927‌

ENGINEERING

&

CONSTRUCTION

-

3.7%

19,190

Arcosa,

Inc.

1,755,693‌

101,310

Frontdoor,

Inc.

(a)

4,870,984‌

North

Square

Dynamic

Small

Cap

Fund

Schedule

of

Investments

(continued)

August

31,

2024

(Unaudited)

Shares

Fair

Value

COMMON

STOCKS

—

98.8%

(Continued)

INDUSTRIALS

-

16.0%

(Continued)

8,950

IES

Holdings,

Inc.

(a)

$

1,669,444‌

47,910

Primoris

Services

Corp.

2,704,040‌

53,829

Tutor

Perini

Corp.

(a)

1,290,281‌

12,290,442‌

INDUSTRIAL

INTERMEDIATE

PRODUCTS

-

0.6%

27,580

Mueller

Industries,

Inc.

2,005,342‌

INDUSTRIAL

SUPPORT

SERVICES

-

0.4%

25,710

H&E

Equipment

Services,

Inc.

1,237,936‌

1,480

Herc

Holdings,

Inc.

216,628‌

1,454,564‌

MACHINERY

-

0.8%

23,030

CECO

Environmental

Corp.

(a)

666,719‌

84,560

Mueller

Water

Products,

Inc.

1,815,503‌

2,482,222‌

MARINE

TRANSPORTATION

-

0.7%

16,800

Matson,

Inc.

2,323,440‌

TRANSPORTATION

&

LOGISTICS

-

0.7%

12,150

Ardmore

Shipping

Corp.

229,392‌

75,950

Genco

Shipping

&

Trading

Ltd.

1,335,961‌

59,480

Sun

Country

Airlines

Holdings,

Inc.

(a)

653,090‌

2,218,443‌

TRANSPORTATION

EQUIPMENT

-

1.3%

54,040

Blue

Bird

Corp.

(a)

2,765,767‌

50,480

Trinity

Industries,

Inc.

1,666,345‌

4,432,112‌

TOTAL

INDUSTRIALS

52,613,868‌

MATERIALS

-

5.3%

CHEMICALS

-

1.6%

133,160

Huntsman

Corp.

2,936,178‌

5,300

Innospec,

Inc.

610,878‌

3,810

Minerals

Technologies,

Inc.

293,751‌

111,990

Tronox

Holdings

PLC,

Class

A

1,560,021‌

5,400,828‌

FORESTRY,

PAPER

&

WOOD

PRODUCTS

-

2.2%

12,110

Boise

Cascade

Co.

1,642,358‌

53,270

Louisiana-Pacific

Corp.

5,169,853‌

6,812,211‌

METALS

&

MINING

-

0.4%

21,520

Century

Aluminum

Co.

(a)

309,027‌

14,430

Kaiser

Aluminum

Corp.

1,075,757‌

1,384,784‌

North

Square

Dynamic

Small

Cap

Fund

Schedule

of

Investments

(continued)

August

31,

2024

(Unaudited)

Shares

Fair

Value

COMMON

STOCKS

—

98.8%

(Continued)

MATERIALS

-

5.3%

(Continued)

STEEL

-

1.1%

25,450

Carpenter

Technology

Corp.

$

3,684,397‌

TOTAL

MATERIALS

17,282,220‌

REAL

ESTATE

-

5.0%

REAL

ESTATE

SERVICES

-

2.2%

166,570

Anywhere

Real

Estate,

Inc.

(a)

814,527‌

83,240

Corporate

Office

Properties

Trust

2,479,720‌

214,700

Cushman

&

Wakefield

PLC

(a)

2,791,100‌

21,420

eXp

World

Holdings,

Inc.

251,899‌

59,570

Newmark

Group,

Inc.,

Class

A

823,853‌

7,161,099‌

REIT

-

2.8%

41,800

Brandywine

Realty

Trust

218,614‌

21,500

EPR

Properties

(a)

1,020,605‌

149,862

Hudson

Pacific

Properties,

Inc.

771,789‌

231,900

Outfront

Media,

Inc.

3,953,896‌

192,340

Park

Hotels

&

Resorts,

Inc.

2,938,955‌

5,480

SITE

Centers

Corp.

330,718‌

9,234,577‌

TOTAL

REAL

ESTATE

16,395,676‌

TECHNOLOGY

-

14.9%

SEMICONDUCTORS

-

4.3%

57,500

ACM

Research,

Inc.,

Class

A

(a)

1,037,300‌

21,770

Alpha

&

Omega

Semiconductor

Ltd.

(a)

910,204‌

40,850

Cirrus

Logic,

Inc.

(a)

5,951,436‌

28,570

Impinj,

Inc.

(a)

4,802,617‌

30,760

Rambus,

Inc.

(a)

1,375,587‌

14,077,144‌

SOFTWARE

-

7.6%

29,550

ACI

Worldwide,

Inc.

(a)

1,488,138‌

41,210

Alarm.com

Holdings,

Inc.

(a)

2,453,643‌

41,250

Alkami

Technology,

Inc.

(a)

1,375,275‌

14,450

Bandwidth,

Inc.,

Class

A

(a)

247,962‌

28,850

CommVault

Systems,

Inc.

(a)

4,483,290‌

163,766

DoubleVerify

Holdings,

Inc.

(a)

3,226,190‌

6,482

Duolingo,

Inc.

(a)

1,377,879‌

50,510

Olo,

Inc.

(a)

265,178‌

160,510

Oscar

Health,

Inc.

(a)

2,937,333‌

35,450

PubMatic,

Inc.,

Class

A

(a)

553,020‌

114,880

RingCentral,

Inc.,

Class

A

(a)

3,828,950‌

41,700

Schrodinger,

Inc.

(a)

876,951‌

21,480

SEMrush

Holdings,

Inc.

(a)

295,135‌

North

Square

Dynamic

Small

Cap

Fund

Schedule

of

Investments

(continued)

August

31,

2024

(Unaudited)

Shares

Fair

Value

COMMON

STOCKS

—

98.8%

(Continued)

TECHNOLOGY

-

14.9%

(Continued)

22,000

Smartsheet,

Inc.,

Class

A

(a)

$

1,073,600‌

35,070

Weave

Communications,

Inc.

(a)

395,590‌

24,878,134‌

TECHNOLOGY

HARDWARE

-

1.0%

77,710

A10

Networks,

Inc.

(a)

1,070,067‌

52,640

Arlo

Technologies,

Inc.

(a)

617,994‌

3,024

Avnet,

Inc.

166,864‌

49,700

Pitney

Bowes,

Inc.

351,379‌

53,100

TTM

Technologies,

Inc.

(a)

1,032,795‌

12,410

Turtle

Beach

Corp.

(a)

193,844‌

3,432,943‌

TECHNOLOGY

SERVICES

-

2.0%

4,640

Euronet

Worldwide,

Inc.

(a)

500,702‌

120,260

Integral

Ad

Science

Holding

Corp.

(a)

1,398,624‌

40,760

LiveRamp

Holdings,

Inc.

(a)

1,056,499‌

30,040

Maximus,

Inc.

2,771,491‌

48,250

Open

Lending

Corp.

(a)

277,920‌

21,560

Pagseguro

Digital

Ltd.,

Class

A

(a)

238,669‌

12,226

Paymentus

Holdings,

Inc.

(a)

277,897‌

6,521,802‌

TOTAL

TECHNOLOGY

48,910,023‌

UTILITIES

-

1.3%

ELECTRIC

UTILITIES

-

0.7%

71,790

Clearway

Energy,

Inc.,

Class

C

2,079,038‌

8,030

NextEra

Energy

Partners

LP

201,152‌

2,280,190‌

GAS

&

WATER

UTILITIES

-

0.6%

77,699

UGI

Corp.

1,935,482‌

TOTAL

UTILITIES

4,215,672‌

TOTAL

COMMON

STOCKS

(Cost $284,094,915)

324,550,983‌

Shares

Fair

Value

EXCHANGE-TRADED

FUNDS

—

0.7%

10,177‌

iShares®

Russell

2000

ETF

2,239,754‌

TOTAL

EXCHANGE-TRADED

FUNDS

(Cost $2,092,742)

2,239,754‌

North

Square

Dynamic

Small

Cap

Fund

Schedule

of

Investments

(continued)

August

31,

2024

(Unaudited)

Shares

Expiration

Date

Exercise

Price

Fair

Value

RIGHTS

—

0.0%

(b)

BIOTECH

&

PHARMA

-

0.0%

(b)

29,400‌

Novartis

A.G.

CVR

$

–‌

TOTAL

RIGHTS

(Cost $–)

–‌

Shares

Fair

Value

SHORT-TERM

INVESTMENTS

—

0.6%

1,972,473‌

First

American

Treasury

Obligations

Fund,

Class

X,

5.17%

(c)

1,972,473‌

TOTAL

SHORT-TERM

INVESTMENTS

(Cost $1,972,473)

1,972,473‌

TOTAL

INVESTMENTS

-

100.1%

(Cost

$288,160,130)

$

328,763,210‌

Liabilities

in

Excess

of

Other

Assets-

(0.1)%

(208,223‌)

NET

ASSETS

-

100.0%

$

328,554,987‌

(a)

Non-income

producing

security.

(b)

Percentage

rounds

to

less

than

0.1%.

(c)

Rate

disclosed

is

the

seven

day

effective

yield

as

of

August

31,

2024.

ADR

-

American

Depositary

Receipt

CVR

-

Contingent

Value

Right

ETF

-

Exchange-Traded

Fund

LTD

-

Limited

Company

NV

-

Naamioze

Vennootschap

PLC

-

Public

Limited

Company

REIT

-

Real

Estate

Investment

Trust

North

Square

Multi

Strategy

Fund

Schedule

of

Investments

August

31,

2024

(Unaudited)

Shares

Fair

Value

EXCHANGE-TRADED

FUNDS

—

33.6%

23,600‌

Invesco®

S&P

500®

GARP

ETF

$

2,463,840‌

3,530‌

iShares®

Core

S&P

500®

ETF

2,000,628‌

21,900‌

Vanguard®

Dividend

Appreciation

ETF

4,294,371‌

5,900‌

Vanguard®

Growth

ETF

2,215,745‌

17,585‌

Vanguard®

Value

ETF

3,039,567‌

TOTAL

EXCHANGE-TRADED

FUNDS

(Cost 

$11,416,269

)

14,014,151‌

Shares

Fair

Value

MUTUAL

FUNDS

—

65.4%

201,154‌

North

Square

Advisory

Research

Small

Value

Fund,

Class

I

(a)

2,548,619‌

532,624‌

North

Square

Altrinsic

International

Equity

Fund,

Class

I

(a)

6,343,554‌

452,426‌

North

Square

Dynamic

Small

Cap

Fund,

Class

I

(a)

7,175,473‌

79,523‌

North

Square

Kennedy

MicroCap

Fund,

Class

I

(a)

896,226‌

472,632‌

North

Square

McKee

Bond

Fund,

Class

I

(a)

4,239,511‌

281,175‌

North

Square

Preferred

and

Income

Securities

Fund,

Class

I

(a)

5,949,661‌

TOTAL

MUTUAL

FUNDS

(Cost $21,909,462)

27,153,044‌

Shares

Fair

Value

SHORT-TERM

INVESTMENTS

—

1.0%

425,969‌

First

American

Treasury

Obligations

Fund,

Class

X,

5.17%

(b)

425,969‌

TOTAL

SHORT-TERM

INVESTMENTS

(Cost $425,969)

425,969‌

TOTAL

INVESTMENTS

-

100.0%

(Cost

$33,751,700)

$

41,593,164‌

Liabilities

in

Excess

of

Other

Assets-

(0.0)%

(13,995‌)

NET

ASSETS

-

100.0%

$

41,579,169‌

(a)

Affiliated

Company.

(b)

Rate

disclosed

is

the

seven

day

effective

yield

as

of

August

31,

2024.

ETF

-

Exchange-Traded

Fund

North

Square

Preferred

and

Income

Securities

Fund

Schedule

of

Investments

August

31,

2024

(Unaudited)

Shares

Fair

Value

PREFERRED

STOCKS

—

4.5%

FINANCIALS

—

4.5%

ASSET

MANAGEMENT

—

2.3%

5,000,000‌

Charles

Schwab

Corp.

(The),

Series

D,

5.95%

$

4,709,639‌

SPECIALTY

FINANCE

—

2.2%

4,900,000‌

American

Express

Co.,

3.55%

4,598,796‌

TOTAL

PREFERRED

STOCKS

(Cost $9,063,957)

9,308,435‌

Principal

Amount

($)

Fair

Value

CORPORATE

BONDS

—

93.1%

COMMUNICATIONS

—

1.6%

ENTERTAINMENT

CONTENT

—

1.6%

3,800,000

Paramount

Global,

6.250%,

02/28/57

(a)

3,283,993‌

CONSUMER

DISCRETIONARY

—

2.2%

AUTOMOTIVE

—

2.2%

4,757,000

General

Motors

Financial

Co.,

Inc.,

5.750%,

Perpetual

(a)

4,534,169‌

ENERGY

—

8.5%

OIL

&

GAS

PRODUCERS

—

8.5%

3,500,000

Enbridge,

Inc.,

7.200%,

06/27/54

(a)

3,616,624‌

2,000,000

Enbridge,

Inc.,

5.500%,

07/15/77

(a)

1,930,686‌

5,050,000

Energy

Transfer

LP,

6.625%,

Perpetual

(a)

4,930,351‌

4,250,000

South

Bow

Canadian

Infrastructure

Holdings

Ltd.,

7.500%,

03/01/55

(a),(b)

4,381,431‌

2,892,000

TransCanada

Trust,

5.300%,

03/15/77

(a)

2,782,058‌

17,641,150‌

FINANCIALS

—

59.7%

ASSET

MANAGEMENT

—

2.6%

3,000,000

UBS

Group

AG,

3.875%,

Perpetual

(a)

2,830,071‌

3,000,000

UBS

Group

AG,

4.375%,

Perpetual

(a)

2,575,146‌

5,405,217‌

BANKING

—

40.4%

2,000,000

Banco

Bilbao

Vizcaya

Argentaria

SA,

6.125%,

02/16/49

(a)

1,911,609‌

1,000,000

Banco

de

Sabadell

SA,

5.000%,

11/19/77

(a)

1,057,885‌

1,000,000

Banco

Santander

SA,

3.625%,

12/31/49

(a)

948,853‌

1,000,000

Banco

Santander

SA,

8.000%,

12/31/49

(a)

1,032,895‌

2,000,000

Banco

Santander

SA,

4.750%,

Perpetual

(a)

1,876,958‌

3,500,000

Bank

of

America

Corp.,

4.300%,

Perpetual

(a)

3,462,772‌

6,000,000

Barclays

PLC,

4.375%,

12/31/49

(a)

5,318,926‌

4,000,000

BNP

Paribas

SA,

4.500%,

Perpetual

(a),(b)

3,392,526‌

2,000,000

CaixaBank

SA,

3.625%,

Perpetual

(a),(b)

1,961,760‌

2,000,000

Citigroup,

Inc.,

3.875%,

Perpetual

(a)

1,926,840‌

North

Square

Preferred

and

Income

Securities

Fund

Schedule

of

Investments

(continued)

August

31,

2024

(Unaudited)

Principal

Amount

($)

Fair

Value

6,100,000

Citigroup,

Inc.,

4.150%,

Perpetual

(a)

$

5,777,851‌

4,405,000

Citizens

Financial

Group,

Inc.,

4.000%,

Perpetual

(a)

4,043,020‌

2,662,000

Comerica,

Inc.,

5.625%,

Perpetual

(a)

2,626,259‌

2,000,000

Commerzbank

AG,

4.250%,

Perpetual

(a)

2,014,313‌

3,000,000

Deutsche

Bank

AG,

4.789%,

12/31/49

(a)

2,879,590‌

1,278,000

Huntington

Bancshares,

Inc.,

4.045%,

Perpetual

(a)

1,217,251‌

4,185,000

ING

Groep

NV,

3.875%,

Perpetual

(a)

3,680,684‌

3,500,000

ING

Groep

NV,

4.250%,

Perpetual

(a)

2,810,388‌

4,614,000

KeyCorp,

5.000%,

Perpetual

(a)

4,399,821‌

6,583,000

M&T

Bank

Corp.,

3.500%,

Perpetual

(a)

5,724,701‌

1,193,000

M&T

Bank

Corp.,

5.125%,

Perpetual

(a)

1,163,359‌

4,500,000

NatWest

Group

PLC,

4.600%,

Perpetual

(a)

3,770,210‌

7,825,000

PNC

Financial

Services

Group,

Inc.,

3.400%,

12/31/49

(a)

6,916,825‌

4,000,000

Societe

Generale

SA,

4.750%,

Perpetual

(a),(b)

3,702,212‌

4,800,000

Svenska

Handelsbanken

AB,

4.750%,

Perpetual

(a)

4,313,100‌

6,713,000

US

Bancorp,

3.700%,

Perpetual

(a)

5,951,276‌

83,881,884‌

INSTITUTIONAL

FINANCIAL

SERVICES

—

8.3%

4,000,000

Bank

of

New

York

Mellon

Corp.

(The),

3.750%,

Perpetual

(a)

3,700,598‌

6,000,000

CenterPoint

Energy,

Inc.,

6.850%,

02/15/55

6,038,148‌

8,000,000

Goldman

Sachs

Group,

Inc.

(The),

3.650%,

Perpetual

(a)

7,534,925‌

17,273,671‌

INSURANCE

—

1.3%

4,078,000

Liberty

Mutual

Group,

Inc.,

4.300%,

02/01/61

(b)

2,677,353‌

SPECIALTY

FINANCE

—

7.1%

5,155,000

Ally

Financial,

Inc.,

4.700%,

Perpetual

(a)

4,701,026‌

4,700,000

Capital

One

Financial

Corp.,

3.950%,

Perpetual

(a)

4,365,690‌

6,100,000

Discover

Financial

Services,

5.500%,

Perpetual

(a)

5,716,341‌

14,783,057‌

INDUSTRIALS

—

2.5%

MACHINERY

—

2.5%

5,500,000

Stanley

Black

&

Decker,

Inc.,

4.000%,

03/15/60

(a)

5,144,967‌

UTILITIES

—

18.6%

ELECTRIC

UTILITIES

—

18.6%

6,000,000

Algonquin

Power

&

Utilities,

Corp.,

4.750%,

01/18/82

(a)

5,583,218‌

2,050,000

American

Electric

Power

Co.,

Inc.,

6.950%,

12/15/54

(a)

2,142,758‌

3,945,000

American

Electric

Power

Co.,

Inc.,

3.875%,

02/15/62

(a)

3,677,793‌

4,751,000

CMS

Energy

Corp.,

4.750%,

06/01/50

(a)

4,499,123‌

1,000,000

Duke

Energy

Corp.,

6.450%,

09/01/54

(a)

1,024,990‌

6,491,000

Duke

Energy

Corp.,

3.250%,

01/15/82

(a)

5,842,215‌

5,000,000

Emera,

Inc.,

6.750%,

06/15/76

(a)

5,035,150‌

2,000,000

EUSHI

Finance,

Inc.,

7.625%,

12/15/54

(a),(b)

2,077,808‌

3,000,000

NextEra

Energy

Capital

Holdings,

Inc.,

6.750%,

06/15/54

(a)

3,144,306‌

1,300,000

NextEra

Energy

Capital

Holdings,

Inc.,

7.661%,

10/01/66

(a)

1,248,786‌

North

Square

Preferred

and

Income

Securities

Fund

Schedule

of

Investments

(continued)

August

31,

2024

(Unaudited)

Principal

Amount

($)

Fair

Value

4,000,000

Vistra

Corp.,

8.875%,

12/31/49

(a)

$

4,256,316‌

38,532,463‌

TOTAL

CORPORATE

BONDS

(Cost $181,873,542)

193,157,924‌

Shares

Fair

Value

SHORT-TERM

INVESTMENTS

—

0.8%

1,684,936‌

First

American

Treasury

Obligations

Fund,

Class

X,

5.17%

(c)

1,684,936‌

TOTAL

SHORT-TERM

INVESTMENTS

(Cost $1,684,936)

1,684,936‌

TOTAL

INVESTMENTS

-

98.4%

(Cost

$192,622,435)

$

204,151,295‌

Other

Assets

in

Excess

of

Liabilities-

1.6%

3,233,025‌

NET

ASSETS

-

100.0%

$

207,384,320‌

(a)

Variable

rate

security;

the

rate

shown

represents

the

rate

on

August

31,

2024.

(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

August

31,

2024

the

total

market

value

of

144A

securities

is

18,193,090

or

8.8%

of

net

assets.

(c)

Rate

disclosed

is

the

seven

day

effective

yield

as

of

August

31,

2024.

North

Square

Preferred

and

Income

Securities

Fund

Schedule

of

Investments

August

31,

2024

(Unaudited)

Short

Contracts

Contracts

Expiration

Date

Notional

Amount

Value

and

Unrealized

Appreciation

(Depreciation)

Euro

FX

Future

(35)

09/17/2024

$

(4,838,531‌)

$

(126,431‌)

TOTAL

FUTURES

CONTRACTS

(126,431‌)

North

Square

Tactical

Growth

Fund

Schedule

of

Investments

August

31,

2024

(Unaudited)

Shares

Fair

Value

EXCHANGE-TRADED

FUNDS

—

95.9%

688,900‌

Financial

Select

Sector

SPDR®

Fund

$

31,510,286‌

168,575‌

Invesco

QQQ

Trust,

Series

1

80,287,215‌

281,900‌

iShares

20+

Year

Treasury

Bond

ETF

27,200,531‌

226,700‌

iShares

3-7

Year

Treasury

Bond

ETF

26,913,824‌

230,900‌

iShares

Core

High

Dividend

ETF

27,343,178‌

531,500‌

iShares

MSCI

Eurozone

ETF

27,303,155‌

93,400‌

iShares

Russell

3000

ETF

29,969,258‌

126,800‌

iShares®

Russell

2000

ETF

27,906,144‌

129,440‌

SPDR®

S&P

500®

ETF

Trust

72,962,739‌

206,787‌

Vanguard

Growth

ETF

77,658,858‌

96,100‌

Vanguard

Health

Care

ETF

27,686,410‌

354,498‌

Vanguard

Value

ETF

61,274,979‌

TOTAL

EXCHANGE-TRADED

FUNDS

(Cost $326,301,485)

518,016,577‌

Shares

Fair

Value

SHORT-TERM

INVESTMENTS

—

4.2%

22,517,838‌

First

American

Treasury

Obligations

Fund,

Class

X,

5.17%

(a)

22,517,838‌

TOTAL

SHORT-TERM

INVESTMENTS

(Cost $22,517,838)

22,517,838‌

TOTAL

INVESTMENTS

-

100.1%

(Cost

$348,819,323)

$

540,534,415‌

Liabilities

in

Excess

of

Other

Assets

-

(0.1)%

(538,494‌)

NET

ASSETS

-

100.0%

$

539,995,921‌

(a)

Rate

disclosed

is

the

seven

day

effective

yield

as

of

August

31,

2024.

ETF

-

Exchange-Traded

Fund

MSCI

-

Morgan

Stanley

Capital

International

SPDR

-

Standard

&

Poor's

Depositary

Receipt

North

Square

Tactical

Defensive

Fund

Schedule

of

Investments

August

31,

2024

(Unaudited)

Shares

Fair

Value

EXCHANGE-TRADED

FUNDS

—

98.3%

27,600‌

Invesco

QQQ

Trust,

Series

1

$

13,145,052‌

239,200‌

SPDR®

Portfolio

Developed

World

EX-US

ETF

8,888,672‌

79,400‌

SPDR®

Portfolio

Emerging

Markets

ETF

3,064,046‌

232,800‌

SPDR®

Portfolio

S&P

500®

ETF

(a)

15,429,984‌

40,100‌

SPDR®

Portfolio

S&P

600®

Small

Cap

ETF

1,815,327‌

23,700‌

SPDR®

S&P

500®

ETF

Trust

13,359,216‌

TOTAL

EXCHANGE-TRADED

FUNDS

(Cost $51,541,853)

55,702,297‌

Shares

Fair

Value

SHORT-TERM

INVESTMENTS

—

1.7%

979,900‌

First

American

Treasury

Obligations

Fund,

Class

X,

5.17%

(b)

979,900‌

TOTAL

SHORT-TERM

INVESTMENTS

(Cost $979,900)

979,900‌

TOTAL

INVESTMENTS

-

100.0%

(Cost

$52,521,753)

$

56,682,197‌

Other

Assets

in

Excess

of

Liabilities

-

0.0%

20,944‌

NET

ASSETS

-

100.0%

$

56,703,141‌

(a)

Represents

an

investment

greater

than

25%

of

the

Fund's

net

assets.  Performance

of

the

Fund

may

be

adversely

impacted

by

concentrated

investments

in

securities.

As

of

August

31,

2024,

the

percentage

of

net

assets

invested

in

SPDR®

Portfolio

S&P

500®

ETF

was

27.2%

of

the

Fund.

The

financial

statements

and

portfolio

holdings

for

these

securities

can

be

found

at

www.sec.gov.

(b)

Rate

disclosed

is

the

seven

day

effective

yield

as

of

August

31,

2024.

ETF

-

Exchange-Traded

Fund

SPDR

-

Standard

&

Poor's

Depositary

Receipt

North

Square

Trilogy

Alternative

Return

Fund

Schedule

of

Investments

August

31,

2024

(Unaudited)

Shares

Fair

Value

COMMON

STOCKS

—

36.8%

CONSUMER

DISCRETIONARY

-

3.1%

HOTELS,

RESTAURANTS

&

LEISURE

-

1.7%

1,153

McDonald's

Corp.

$

332,824‌

SPECIALTY

RETAIL

-

1.4%

725

Home

Depot,

Inc.

(The)

267,163‌

TOTAL

CONSUMER

DISCRETIONARY

599,987‌

CONSUMER

STAPLES

-

5.8%

FOOD

-

1.0%

2,644

General

Mills,

Inc.

191,135‌

HOUSEHOLD

PRODUCTS

-

1.5%

1,698

Procter

&

Gamble

Co.

(The)

291,275‌

RETAIL

-

CONSUMER

STAPLES

-

2.4%

6,039

Wal-Mart

Stores,

Inc.

466,392‌

WHOLESALE

-

CONSUMER

STAPLES

-

0.9%

2,323

Sysco

Corp.

181,124‌

TOTAL

CONSUMER

STAPLES

1,129,926‌

FINANCIALS

-

3.4%

BANKS

-

1.1%

4,891

Truist

Financial

Corp.

217,454‌

INSURANCE

-

2.3%

4,047

Aflac,

Inc.

446,627‌

TOTAL

FINANCIALS

664,081‌

HEALTH

CARE

-

7.2%

HEALTH

CARE

EQUIPMENT

&

SUPPLIES

-

0.9%

1,581

Abbott

Laboratories

179,080‌

PHARMACEUTICALS

-

6.3%

557

Eli

Lilly

&

Co.

534,731‌

1,197

Johnson

&

Johnson

198,534‌

2,788

Merck

&

Co.,

Inc.

330,239‌

5,869

Pfizer,

Inc.

170,260‌

1,233,764‌

TOTAL

HEALTH

CARE

1,412,844‌

INDUSTRIALS

-

6.5%

AEROSPACE

&

DEFENSE

-

1.1%

910

L3Harris

Technologies,

Inc.

215,370‌

North

Square

Trilogy

Alternative

Return

Fund

Schedule

of

Investments

(continued)

August

31,

2024

(Unaudited)

Shares

Fair

Value

COMMON

STOCKS

—

36.8%

(Continued)

INDUSTRIALS

-

6.5%

(Continued)

COMMERCIAL

SUPPORT

SERVICES

-

2.1%

1,919

Waste

Management,

Inc.

$

406,905‌

DIVERSIFIED

INDUSTRIALS

-

1.0%

733

Illinois

Tool

Works,

Inc.

185,581‌

INDUSTRIAL

SUPPORT

SERVICES

-

2.3%

456

W.W.

Grainger,

Inc.

449,123‌

TOTAL

INDUSTRIALS

1,256,979‌

TECHNOLOGY

-

7.1%

SOFTWARE

-

3.6%

1,702

Microsoft

Corp.

709,972‌

TECHNOLOGY

HARDWARE

-

3.5%

2,966

Apple,

Inc.

679,214‌

TOTAL

TECHNOLOGY

1,389,186‌

UTILITIES

-

3.7%

ELECTRIC

UTILITIES

-

3.7%

2,211

Dominion

Energy,

Inc.

123,595‌

2,995

Eversource

Energy

202,252‌

4,526

Southern

Co.

(The)

391,047‌

716,894‌

TOTAL

UTILITIES

716,894‌

TOTAL

COMMON

STOCKS

(Cost $2,236,217)

7,169,897‌

Shares

Fair

Value

EXCHANGE-TRADED

FUNDS

—

60.5%

12,250‌

iShares®

Broad

USD

High

Yield

Corporate

Bond

ETF

(a)

456,680‌

14,920‌

iShares®

Core

Dividend

Growth

ETF

927,129‌

19,300‌

iShares®

MBS

ETF

(a)

1,838,132‌

9,382‌

Schwab®

U.S.

Dividend

Equity

ETF

793,060‌

95,500‌

SPDR®

Portfolio

Intermediate

Term

Corporate

Bond

ETF

(a)

3,192,565‌

39,100‌

SPDR®

Portfolio

Long-Term

Corporate

Bond

ETF

(a)

922,760‌

59,900‌

SPDR®

Portfolio

Short-Term

Corporate

Bond

ETF

(a)

1,805,386‌

31,300‌

VanEck®

Vectors

Fallen

Angel

High

Yield

Bond

ETF

(a)

912,395‌

4,734‌

Vanguard®

Dividend

Appreciation

ETF

928,290‌

TOTAL

EXCHANGE-TRADED

FUNDS

(Cost $11,211,854)

11,776,397‌

North

Square

Trilogy

Alternative

Return

Fund

Schedule

of

Investments

(continued)

August

31,

2024

(Unaudited)

Contracts

PURCHASED

OPTIONS-

5.5%

Expiration

Date

Exercise

Price

Notional

Value

Fair

Value

CALL

OPTIONS

PURCHASED

-

5.5%

5‌

S&P

500®

Index

09/06/2024

$

5,500‌

$

2,824,200‌

$

75,800‌

5‌

S&P

500®

Index

09/13/2024

5,700‌

2,824,200‌

13,150‌

5‌

S&P

500®

Index

09/20

/2024

5,800‌

2,824,200‌

4,950‌

5‌

S&P

500®

Index

09/27/2024

5,800‌

2,824,200‌

7,700‌

10‌

S&P

500®

Index

12/20/2024

4,750‌

5,648,400‌

980,150‌

1,081,750‌

Contracts

PURCHASED

OPTIONS-

0.8%

Expiration

Date

Exercise

Price

Notional

Value

Fair

Value

PUT

OPTIONS

PURCHASED

-

0.8%

5‌

S&P

500®

Index

09/06/2024

$

5,150‌

$

2,824,200‌

$

213‌

10‌

S&P

500®

Index

09/06/2024

5,475‌

5,648,400‌

2,225‌

5‌

S&P

500®

Index

09/13/2024

5,350‌

2,824,200‌

2,050‌

10‌

S&P

500®

Index

09/13/2024

5,525‌

2,824,200‌

15,600‌

5‌

S&P

500®

Index

09/20/2024

5,450‌

2,824,200‌

8,300‌

10‌

S&P

500®

Index

09/20/2024

5,575‌

5,648,400‌

34,900‌

5‌

S&P

500®

Index

09/27/2024

5,450‌

2,824,200‌

11,600‌

5‌

S&P

500®

Index

12/20/2024

3,950‌

2,824,200‌

4,775‌

5‌

S&P

500®

Index

12/20/2024

4,050‌

2,824,200‌

5,350‌

5‌

S&P

500®

Index

12/20/2024

4,100‌

2,824,200‌

5,650‌

5‌

S&P

500®

Index

06/20/2025

4,550‌

2,824,200‌

29,475‌

5‌

S&P

500®

Index

06/20/2025

4,600‌

2,824,200‌

31,200‌

50‌

SPDR®

S&P

500®

ETF

Trust

12/20/2024

360‌

2,818,400‌

3,375‌

154,713‌

TOTAL

PURCHASED

OPTIONS

(Cost

-

$1,101,985)

1,236,463‌

Shares

Fair

Value

SHORT-TERM

INVESTMENTS

—

1.3%

257,188‌

First

American

Treasury

Obligations

Fund,

Class

X,

5.18%

(b)

257,188‌

TOTAL

SHORT-TERM

INVESTMENTS

(Cost $257,188)

257,188‌

TOTAL

INVESTMENTS

-

104.9%

(Cost

$14,807,244)

$

20,439,945‌

Other

Assets

in

Excess

of

Liabilities-

0.1%

(963,291‌)

NET

ASSETS

-

100.0%

$

19,476,654‌

(a)

Securities,

or

a

portion

thereof,

have

been

pledged

as

collateral

on

written

options.

The

total

collateral

pledged

is

$7,356,169.

(b)

Rate

disclosed

is

the

seven

day

effective

yield

as

of

August

31,

2024.

ETF

-

Exchange-Traded

Fund

North

Square

Trilogy

Alternative

Return

Fund

Schedule

of

Investments

(continued)

August

31,

2024

(Unaudited)

Contracts

PURCHASED

OPTIONS-

5.5%

Expiration

Date

Exercise

Price

Notional

Value

Fair

Value

CALL

OPTIONS

PURCHASED

-

5.5%

5‌

S&P

500®

Index

09/06/2024

$

5,500‌

$

2,824,200‌

$

75,800‌

5‌

S&P

500®

Index

09/13/2024

5,700‌

2,824,200‌

13,150‌

5‌

S&P

500®

Index

09/20

/2024

5,800‌

2,824,200‌

4,950‌

5‌

S&P

500®

Index

09/27/2024

5,800‌

2,824,200‌

7,700‌

10‌

S&P

500®

Index

12/20/2024

4,750‌

5,648,400‌

980,150‌

1,081,750‌

Contracts

PURCHASED

OPTIONS-

0.8%

Expiration

Date

Exercise

Price

Notional

Value

Fair

Value

PUT

OPTIONS

PURCHASED

-

0.8%

5‌

S&P

500®

Index

09/06/2024

$

5,150‌

$

2,824,200‌

$

213‌

10‌

S&P

500®

Index

09/06/2024

5,475‌

5,648,400‌

2,225‌

5‌

S&P

500®

Index

09/13/2024

5,350‌

2,824,200‌

2,050‌

10‌

S&P

500®

Index

09/13/2024

5,525‌

2,824,200‌

15,600‌

5‌

S&P

500®

Index

09/20/2024

5,450‌

2,824,200‌

8,300‌

10‌

S&P

500®

Index

09/20/2024

5,575‌

5,648,400‌

34,900‌

5‌

S&P

500®

Index

09/27/2024

5,450‌

2,824,200‌

11,600‌

5‌

S&P

500®

Index

12/20/2024

3,950‌

2,824,200‌

4,775‌

5‌

S&P

500®

Index

12/20/2024

4,050‌

2,824,200‌

5,350‌

5‌

S&P

500®

Index

12/20/2024

4,100‌

2,824,200‌

5,650‌

5‌

S&P

500®

Index

06/20/2025

4,550‌

2,824,200‌

29,475‌

5‌

S&P

500®

Index

06/20/2025

4,600‌

2,824,200‌

31,200‌

50‌

SPDR®

S&P

500®

ETF

Trust

12/20/2024

360‌

2,818,400‌

3,375‌

154,713‌

TOTAL

PURCHASED

OPTIONS

(Cost

-

$1,101,985)

1,236,463‌

Shares

Fair

Value

SHORT-TERM

INVESTMENTS

—

1.3%

257,188‌

First

American

Treasury

Obligations

Fund,

Class

X,

5.18%

(b)

257,188‌

TOTAL

SHORT-TERM

INVESTMENTS

(Cost $257,188)

257,188‌

TOTAL

INVESTMENTS

-

104.9%

(Cost

$14,807,244)

$

20,439,945‌

Other

Assets

in

Excess

of

Liabilities-

0.1%

(963,291‌)

NET

ASSETS

-

100.0%

$

19,476,654‌

(a)

Securities,

or

a

portion

thereof,

have

been

pledged

as

collateral

on

written

options.

The

total

collateral

pledged

is

$7,356,169.

(b)

Rate

disclosed

is

the

seven

day

effective

yield

as

of

August

31,

2024.

ETF

-

Exchange-Traded

Fund

SPDR

-

Standard

&

Poor's

Depositary

Receipt

North

Square

Trilogy

Alternative

Return

Fund

Schedule

of

Written

Options

August

31,

2024

(Unaudited)

Description

Number

of

Contracts

Notional

Amount

Exercise

Price

Expiration

Date

Fair

Value

WRITTEN

CALL

OPTIONS

(4.33)%

S&P

500®

Index

(5‌)

$

(2,824,200‌)

$

5,350.00‌

September

2024

$

(149,175‌)

S&P

500®

Index

(5‌)

(2,824,200‌)

5,550.00‌

September

2024

(61,050‌)

S&P

500®

Index

(5‌)

(2,824,200‌)

5,650.00‌

September

2024

(32,975‌)

S&P

500®

Index

(5‌)

(2,824,200‌)

5,650.00‌

September

2024

(39,175‌)

S&P

500®

Index

(5‌)

(2,824,200‌)

4,600.00‌

December

2024

(561,200‌)

$

(843,575‌)

Description

Number

of

Contracts

Notional

Amount

Exercise

Price

Expiration

Date

Fair

Value

WRITTEN

PUT

OPTIONS

(0.68)%

S&P

500®

Index

(10‌)

(5,648,400‌)

5,275.00‌

September

2024

(525‌)

S&P

500®

Index

(5‌)

(2,824,200‌)

5,350.00‌

September

2024

(363‌)

S&P

500®

Index

(10‌)

(5,648,400‌)

5,325.00‌

September

2024

(3,550‌)

S&P

500®

Index

(5‌)

(2,824,200‌)

5,550.00‌

September

2024

(9,700‌)

S&P

500®

Index

(10‌)

(5,648,400‌)

5,375.00‌

September

2024

(11,300‌)

S&P

500®

Index

(5‌)

(2,824,200‌)

5,650.00‌

September

2024

(28,825‌)

S&P

500®

Index

(5‌)

(2,824,200‌)

5,650.00‌

September

2024

(32,325‌)

S&P

500®

Index

(5‌)

(2,824,200‌)

3,500.00‌

December

2024

(2,900‌)

S&P

500®

Index

(5‌)

(2,824,200‌)

3,600.00‌

December

2024

(3,225‌)

S&P

500®

Index

(5‌)

(2,824,200‌)

3,650.00‌

December

2024

(3,425‌)

S&P

500®

Index

(5‌)

(2,824,200‌)

4,050.00‌

June

2025

(17,325‌)

S&P

500®

Index

(5‌)

(2,824,200‌)

4,100.00‌

June

2025

(18,225‌)

(131,688‌)

Total

Call

Written

Options

(Premiums

Received

$740,209)

$

(975,263‌)

North

Square

Kennedy

MicroCap

Fund

Schedule

of

Investments

August

31,

2024

(Unaudited)

Shares

Fair

Value

COMMON

STOCKS

—

95.7%

COMMUNICATIONS

-

2.3%

ADVERTISING

&

MARKETING

-

0.9%

7,567

Magnite,

Inc.

(a)

$

104,350‌

COMMERCIAL

SUPPORT

SERVICES

-

0.8%

22,281

Advantage

Solutions,

Inc.

(a)

86,227‌

INTERNET

-

0.6%

3,602

Thryv

Holdings,

Inc.

(a)

65,628‌

TOTAL

COMMUNICATIONS

256,205‌

CONSUMER

DISCRETIONARY

-

6.8%

AUTO

COMPONENTS

-

0.8%

3,234

Motorcar

Parts

of

America,

Inc.

(a)

21,441‌

4,856

Stoneridge,

Inc.

(a)

69,635‌

91,076‌

DIVERSIFIED

CONSUMER

SERVICES

-

2.1%

13,434

Universal

Technical

Institute,

Inc.

(a)

234,423‌

HOTELS,

RESTAURANTS

&

LEISURE

-

1.6%

6,204

Inspired

Entertainment,

Inc.

(a)

56,022‌

10,571

PlayAGS,

Inc.

(a)

119,664‌

175,686‌

HOUSEHOLD

DURABLES

-

0.4%

4,265

Universal

Electronics,

Inc.

(a)

39,750‌

LEISURE

PRODUCTS

-

0.6%

1,614

Vista

Outdoor,

Inc.

(a)

64,625‌

PACKAGING

&

CONTAINERS

-

0.7%

3,080

TriMas

Corp.

(a)

78,571‌

SPECIALTY

RETAIL

-

0.6%

1,165

America's

Car-Mart,

Inc.

(a)

70,517‌

TOTAL

CONSUMER

DISCRETIONARY

754,648‌

CONSUMER

STAPLES

-

3.4%

FOOD

&

STAPLES

RETAILING

-

1.4%

3,536

Chefs'

Warehouse,

Inc.

(The)

(a)

151,447‌

FOOD

PRODUCTS

-

1.3%

24,891

SunOpta,

Inc.

(a)

143,123‌

PERSONAL

PRODUCTS

-

0.7%

5,957

Nature's

Sunshine

Products,

Inc.

(a)

82,207‌

TOTAL

CONSUMER

STAPLES

376,777‌

North

Square

Kennedy

MicroCap

Fund

Schedule

of

Investments

(continued)

August

31,

2024

(Unaudited)

Shares

Fair

Value

COMMON

STOCKS

—

95.7%

(Continued)

ENERGY

-

1.8%

OIL

&

GAS

PRODUCERS

-

1.8%

7,055

Riley

Exploration

Permian,

Inc.

(a)

$

201,068‌

OIL

&

GAS

SERVICES

&

EQUIPMENT

-

0.0%

(b)

581

Flotek

Industries,

Inc.

(a)

2,463‌

TOTAL

ENERGY

203,531‌

FINANCIALS

-

24.4%

ASSET

MANAGEMENT

-

0.8%

6,569

Trinity

Capital,

Inc.

(a)

92,229‌

BANKING

-

8.2%

7,032

California

BanCorp

(a)

105,304‌

6,533

Capital

Bancorp,

Inc.

(a)

167,114‌

3,239

Origin

Bancorp,

Inc.

(a)

108,409‌

9,237

Primis

Financial

Corp.

112,230‌

7,089

Southern

States

Bancshares,

Inc.

(a)

221,318‌

7,011

Third

Coast

Bancshares,

Inc.

(a)

179,552‌

893,927‌

BANKS

-

6.0%

5,757

Banc

of

California,

Inc.

81,865‌

1,244

Bancorp,

Inc.

(The)

(a)

65,186‌

172

Carter

Bankshares,

Inc.

(a)

2,976‌

1,508

Customers

Bancorp,

Inc.

(a)

78,145‌

6,639

Investar

Holding

Corp.

123,618‌

9,997

Old

Second

Bancorp,

Inc.

170,248‌

4,591

SmartFinancial,

Inc.

(a)

134,194‌

656,232‌

CAPITAL

MARKETS

-

0.6%

6,643

WisdomTree

Investments,

Inc.

67,360‌

INSTITUTIONAL

FINANCIAL

SERVICES

-

0.5%

2,781

Perella

Weinberg

Partners

54,369‌

INSURANCE

-

4.1%

12,867

Crawford

&

Co.

(a)

136,004‌

12,107

Heritage

Insurance

Holdings,

Inc.

(a)

195,286‌

5,384

James

River

Group

Holdings

Ltd.

39,842‌

4,351

Tiptree,

Inc.

(a)

86,280‌

457,412‌

SPECIALTY

FINANCE

-

3.3%

2,785

Atlanticus

Holdings

Corp.

(a)

98,450‌

3,640

Mid

Penn

Bancorp,

Inc.

(a)

109,964‌

52,508

Oportun

Financial

Corp.

(a)

155,949‌

364,363‌

North

Square

Kennedy

MicroCap

Fund

Schedule

of

Investments

(continued)

August

31,

2024

(Unaudited)

Shares

Fair

Value

COMMON

STOCKS

—

95.7%

(Continued)

FINANCIALS

-

24.4%

(Continued)

THRIFTS

&

MORTGAGE

FINANCE

-

0.9%

3,086

Timberland

Bancorp,

Inc.

(a)

$

96,376‌

TOTAL

FINANCIALS

2,682,268‌

HEALTH

CARE

-

28.3%

BIOTECH

&

PHARMA

-

10.3%

1,568

4D

Molecular

Therapeutics,

Inc.

(a)

23,536‌

5,880

Absci

Corp.

(a)

25,872‌

3,174

ACELYRIN,

Inc.

(a)

15,172‌

5,440

ALX

Oncology

Holdings,

Inc.

(a)

12,621‌

9,139

Annexon,

Inc.

(a)

52,092‌

2,940

Bicycle

Therapeutics

PLC

-

ADR

(a)

63,210‌

8,127

Cogent

Biosciences,

Inc.

(a)

87,284‌

3,006

Day

One

Biopharmaceuticals,

Inc.

(a)

41,603‌

36,374

Elutia,

Inc.

(a)

149,133‌

5,851

Essa

Pharma,

Inc.

(a)

32,707‌

12,826

Exagen,

Inc.

(a)

38,221‌

4,274

iTeos

Therapeutics,

Inc.

(a)

72,017‌

1,203

Janux

Therapeutics,

Inc.

(a)

56,517‌

19,596

Kronos

Bio,

Inc.

(a)

20,576‌

49,392

Ovid

therapeutics,

Inc.

(a)

55,813‌

6,663

Phathom

Pharmaceuticals,

Inc.

(a)

110,073‌

5,260

Rigel

Pharmaceuticals,

Inc.

(a)

70,694‌

2,967

Scholar

Rock

Holding

Corp.

(a)

27,593‌

15,067

Tela

Bio,

Inc.

(a)

43,694‌

11,364

Verastem,

Inc.

(a)

28,410‌

3,426

Verona

Pharma

PLC

-

ADR

(a)

94,146‌

1,120,984‌

BIOTECHNOLOGY

-

3.0%

1,633

Agios

Pharmaceuticals,

Inc.

(a)

74,971‌

21,637

Aldeyra

Therapeutics,

Inc.

(a)

124,521‌

9,741

Geron

Corp.

(a)

46,270‌

22,113

Karyopharm

Therapeutics,

Inc.

(a)

16,810‌

1,550

Protagonist

Therapeutics,

Inc.

(a)

66,480‌

329,052‌

HEALTH

CARE

EQUIPMENT

&

SUPPLIES

-

4.7%

2,436

Artivion,

Inc.

(a)

66,113‌

4,995

AtriCure,

Inc.

(a)

130,919‌

483

ICU

Medical,

Inc.

(a)

79,854‌

3,926

Silk

Road

Medical,

Inc.

(a)

106,434‌

1,310

Surmodics,

Inc.

(a)

51,915‌

5,972

Tactile

Systems

Technology,

Inc.

(a)

81,757‌

516,992‌

North

Square

Kennedy

MicroCap

Fund

Schedule

of

Investments

(continued)

August

31,

2024

(Unaudited)

Shares

Fair

Value

COMMON

STOCKS

—

95.7%

(Continued)

HEALTH

CARE

-

28.3%

(Continued)

HEALTH

CARE

FACILITIES

&

SERVICES

-

3.0%

14,124

AdaptHealth

Corp.

(a)

$

155,222‌

15,490

DocGo,

Inc.

(a)

58,552‌

12,588

Quipt

Home

Medical

Corp.

(a)

36,002‌

5,148

SI-BONE,

Inc.

(a)

85,560‌

335,336‌

HEALTH

CARE

PROVIDERS

&

SERVICES

-

1.7%

8,998

Owens

&

Minor,

Inc.

(a)

139,829‌

615

U.S.

Physical

Therapy,

Inc.

52,644‌

192,473‌

HEALTH

CARE

TECHNOLOGY

-

2.2%

19,658

Health

Catalyst,

Inc.

(a)

141,341‌

8,143

TruBridge,

Inc.

(a)

101,543‌

242,884‌

MEDICAL

EQUIPMENT

&

DEVICES

-

2.4%

15,087

Bioventus,

Inc.

(a)

151,625‌

3,376

OrthoPediatrics

Corp.

(a)

107,863‌

259,488‌

PHARMACEUTICALS

-

1.0%

418

ANI

Pharmaceuticals,

Inc.

(a)

26,648‌

4,022

OptimizeRx

Corp.

(a)

33,423‌

6,551

Theravance

Biopharma,

Inc.

(a)

54,045‌

114,116‌

TOTAL

HEALTH

CARE

3,111,325‌

INDUSTRIALS

-

13.5%

AEROSPACE

&

DEFENSE

-

2.1%

1,156

AAR

Corp.

(a)

76,042‌

6,270

Park

Aerospace

Corp.

(a)

84,707‌

4,927

Triumph

Group,

Inc.

(a)

68,633‌

229,382‌

BUILDING

PRODUCTS

-

0.7%

2,324

Insteel

Industries,

Inc.

79,946‌

COMMERCIAL

SUPPORT

SERVICES

-

0.5%

5,786

Quest

Resource

Holding

Corp.

(a)

51,148‌

CONSTRUCTION

&

ENGINEERING

-

0.5%

614

NV5

Global,

Inc.

(a)

59,024‌

ELECTRICAL

EQUIPMENT

-

1.4%

623

AZZ,

Inc.

51,815‌

6,243

LSI

Industries,

Inc.

99,326‌

151,141‌

North

Square

Kennedy

MicroCap

Fund

Schedule

of

Investments

(continued)

August

31,

2024

(Unaudited)

Shares

Fair

Value

COMMON

STOCKS

—

95.7%

(Continued)

INDUSTRIALS

-

13.5%

(Continued)

ENGINEERING

&

CONSTRUCTION

-

0.1%

2,456

Southland

Holdings,

Inc.

(a)

$

10,070‌

MACHINERY

-

0.6%

3,546

Kornit

Digital

Ltd.

(a)

65,885‌

PROFESSIONAL

SERVICES

-

3.5%

7,837

Barrett

Business

Services,

Inc.

286,129‌

567

CRA

International,

Inc.

95,596‌

381,725‌

TRADING

COMPANIES

&

DISTRIBUTORS

-

2.6%

2,791

H&E

Equipment

Services,

Inc.

134,387‌

11,803

MRC

Global,

Inc.

(a)

155,327‌

289,714‌

TRANSPORTATION

EQUIPMENT

-

1.5%

5,235

REV

Group,

Inc.

166,682‌

TOTAL

INDUSTRIALS

1,484,717‌

MATERIALS

-

2.6%

CHEMICALS

-

1.1%

9,295

American

Vanguard

Corp.

(a)

53,353‌

8,323

LSB

Industries,

Inc.

(a)

66,002‌

119,355‌

METALS

&

MINING

-

1.5%

875

Materion

Corp.

101,535‌

1,643

Universal

Stainless

&

Alloy

Products,

Inc.

(a)

69,203‌

170,738‌

TOTAL

MATERIALS

290,093‌

REAL

ESTATE

-

3.2%

EQUITY

REAL

ESTATE

INVESTMENT

TRUSTS

(REITS)

-

2.2%

13,186

Chatham

Lodging

Trust

112,872‌

4,666

Plymouth

Industrial

REIT,

Inc.

111,704‌

1,914

Whitestone

REIT

25,686‌

250,262‌

REIT

-

1.0%

5,534

CTO

Realty

Growth,

Inc.

(a)

105,257‌

TOTAL

REAL

ESTATE

355,519‌

TECHNOLOGY

-

9.4%

COMMUNICATIONS

EQUIPMENT

-

1.7%

3,080

Applied

Optoelectronics,

Inc.

(a)

34,958‌

16,776

Ceragon

Networks

Ltd.

(a)

49,992‌

1,764

Harmonic,

Inc.

(a)

25,490‌

North

Square

Kennedy

MicroCap

Fund

Schedule

of

Investments

(continued)

August

31,

2024

(Unaudited)

Shares

Fair

Value

COMMON

STOCKS

—

95.7%

(Continued)

TECHNOLOGY

-

9.4%

(Continued)

11,625

Infinera

Corp.

(a)

$

73,122‌

183,562‌

ELECTRONIC

EQUIPMENT,

INSTRUMENTS

&

COMPONENTS

-

1.6%

10,002

Key

Tronic

Corp.

(a)

45,509‌

26,794

Powerfleet,

Inc.

(a)

133,702‌

179,211‌

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

-

0.9%

3,910

Himax

Technologies,

Inc.

-

ADR

(a)

23,108‌

5,179

MagnaChip

Semiconductor

Corp.

(a)

24,445‌

2,697

Penguin

Solutions,

Inc.

(a)

55,882‌

103,435‌

SOFTWARE

-

4.9%

6,340

IBEX

Holdings

Ltd.

(a)

109,302‌

4,153

Red

Violet,

Inc.

(a)

120,022‌

17,970

Upland

Software,

Inc.

(a)

39,714‌

10,140

Zeta

Global

Holdings

Corp.

(a)

267,796‌

536,834‌

TECHNOLOGY

HARDWARE,

STORAGE

&

PERIPHERALS

-

0.3%

9,871

Intevac,

Inc.

(a)

35,042‌

TOTAL

TECHNOLOGY

1,038,084‌

TOTAL

COMMON

STOCKS

(Cost $9,320,649)

10,553,167‌

Shares

Fair

Value

PREFERRED

STOCKS

—

0.8%

ENERGY

—

0.8%

OIL

&

GAS

SERVICES

&

EQUIPMENT

—

0.8%

6,752‌

MIND

Technology,

Inc.

-

Series

A

(a)

92,165‌

TOTAL

PREFERRED

STOCKS

(Cost $87,218)

92,165‌

North

Square

Kennedy

MicroCap

Fund

Schedule

of

Investments

(continued)

August

31,

2024

(Unaudited)

Shares

Fair

Value

SHORT-TERM

INVESTMENTS

—

4.0%

443,588‌

First

American

Treasury

Obligations

Fund,

Class

X,

5.17%

(c)

$

443,588‌

TOTAL

SHORT-TERM

INVESTMENTS

(Cost $443,588)

443,588‌

TOTAL

INVESTMENTS

-

100.5%

(Cost

$9,851,455)

$

11,088,920‌

Liabilities

in

Excess

of

Other

Assets-

(0.5)%

(57,509‌)

NET

ASSETS

-

100.0%

$

11,031,411‌

(a)

Non-income

producing

security.

(b)

Percentage

rounds

to

less

than

0.1%.

(c)

Rate

disclosed

is

the

seven

day

effective

yield

as

of

August

31,

2024.