| PRIMARK PRIVATE EQUITY INVESTMENTS FUND |
| SCHEDULE OF INVESTMENTS |
| December 31, 2022 (Unaudited) |
| |
| PUBLICLY LISTED COMPANIES - 18.3% |
| CLOSED-END FUNDS - 6.2% | Shares | Value |
| Ares Capital Corporation | 136,526 | $ 2,521,635 |
| Golub Capital BDC, Inc. | 74,349 | 978,433 |
| Hercules Capital, Inc. | 62,999 | 832,847 |
| Main Street Capital Corporation | 31,610 | 1,167,990 |
| MidCap Financial Investment Corporation | 45,914 | 523,420 |
| Prospect Capital Corporation | 138,908 | 970,967 |
| TOTAL CLOSED-END FUNDS (Cost $7,315,002) | $ 6,995,292 |
| | | |
| | | |
| COMMON STOCKS - 12.1% | Shares | Value |
| FINANCIALS - 12.1% | | |
| ASSET MANAGEMENT - 15.2% | | |
| Apollo Global Management, Inc. | 42,494 | $ 2,710,692 |
| Ares Management Corporation - Class A | 31,069 | 2,126,362 |
| Blackstone Group, L.P. (The) | 26,776 | 1,986,511 |
| Carlyle Group, Inc. (The) | 93,110 | 2,778,402 |
| FS KKR Capital Corporation | 108,025 | 1,890,438 |
| KKR & Company, Inc. | 45,924 | 2,131,792 |
| TOTAL COMMON STOCKS (Cost $15,358,191) | $ 13,624,197 |
| | | |
| PRIVATE EQUITY INVESTMENTS - 69.5% | Shares | Value |
| PORTFOLIO COMPANIES - 49.8% | | |
| BlueVoyant LLC(a)(b)(c) | 2,996,254 | $ 7,200,000 |
| Circuit Clinical Solutions Preferred Series C Stock(a)(b)(c) | 112,300 | 6,000,000 |
| FS NU Investors L.P.(a)(b)(c)(e) | - | 4,750,000 |
| Hg Vibranium Co-Invest L.P.(a)(c)(d)(e) | - | 7,019,558 |
| JMI Time Aggregator, L.P.(a)(b)(c)(e) | - | 5,000,000 |
| Onex ISO Co-Invest L.P.(a)(c)(d)(e) | - | 4,049,842 |
| Partners Group Client Access 43, L.P.(a)(b)(c)(e) | - | 6,157,046 |
| RCP MB Investments A, L.P.(a)(c)(d)(e) | - | 7,999,801 |
| TriSalus Life Sciences, Inc. Series B-1 Preferred Stock (a)(b)(c) | 22,857,142 | 8,000,000 |
| | | $ 56,176,247 |
| PRIMARK PRIVATE EQUITY INVESTMENTS FUND |
| SCHEDULE OF INVESTMENTS (Continued) |
| |
| PRIVATE EQUITY INVESTMENTS - 69.5% (Continued) | Shares | Value |
| PORTFOLIO FUNDS - 19.7% | | |
| Arsenal Capital Partners Growth L.P.(a)(c)(d)(e) | - | $ 311,703 |
| Arsenal Capital Partners VI L.P.(a)(c)(d)(e) | - | 1,270,157 |
| Cordillera Investment Fund III-B, L.P.(a)(c)(d)(e) | - | 750,540 |
| Hg Saturn 3 A, L.P.(a)(c)(d)(e) | - | 37,945 |
| ICG LP Secondaries Fund I L.P.(a)(c)(d)(e) | - | 3,152,991 |
| ICG Ludgate Hill IIA Boston LP Secondary Fund(a)(c)(d)(e)(f) | - | 3,517,493 |
Onex Structured Credit Opportunities
Partners I, L.P.(c)(d)(e) | - | 3,056,683 |
| Partners Group Direct Equity IV (USD) A, L.P.(a)(c)(d)(e) | - | 5,430,292 |
| Partners Group Secondary 2020 (USD) A, L.P.(a)(c)(d)(e)(f) | - | 2,319,056 |
| Saturn Five Frontier I, LLC - Class A(a)(b)(c)(f) | 2,331,901 | 2,331,901 |
| | | $ 22,178,761 |
| | |
| TOTAL PRIVATE EQUITY INVESTMENTS (Cost $77,647,345) | $ 78,355,008 |
| | | |
| TOTAL INVESTMENTS AT VALUE - 87.8% (Cost $100,320,538) | $ 98,974,497 |
| | |
| OTHER ASSETS IN EXCESS OF LIABILITIES - 12.2% | 13,736,577 |
| | |
| NET ASSETS - 100.0% | $ 112,711,074 |
| (a) | Non-income producing security. |
| (b) | Level 3 securities fair valued using significant unobservable inputs. |
| (c) | Restricted investments as to resale. |
| (d) | Investment is valued using net assets value per share (or its equivalent) as a practical expedient. |
| (e) | Investment does not issue shares. |
| (f) | Affiliated investment for which ownership is 5% or more of the investment's capital. |
| L.P. | - | Limited Partnerships |
| PRIMARK PRIVATE EQUITY INVESTMENTS FUND |
| SCHEDULE OF INVESTMENTS (Continued) |
| |
| | | |
Restricted Securities - Restricted securities are securities that may be resold only upon registration under federal securities laws or in transactions exempt from such registration. In some cases, the issuer of restricted securities has agreed to register such securities for resale, at the issuer’s expense either upon demand by the Fund or in connection with another registered offering of the securities. Many restricted securities may be resold in the secondary market in transactions exempt from registration. Such restricted securities may be determined to be liquid under criteria established by the Board. The restricted securities may be valued at the price provided by dealers in the secondary market or, if no market prices are available, the fair value as determined in good faith using methods approved by the Board. The Portfolio Funds generally are restricted securities that are subject to substantial holding periods and are not traded in public markets, so that the Fund may not be able to resell some of its investments for extended periods, which may be several years.
Additional information on the restricted investments held by the Fund at December 31, 2022 is as follows:
| Security Description | | Acquisition Date | Cost | Value | % of Net Assets |
| Portfolio Company | | | | | |
| BlueVoyant LLC | | 12/23/2021 | $ 8,000,000 | $ 7,200,000 | 6.4% |
| Circuit Clincial Solutions Preferred Series C Stock | 1/13/2022 | 6,000,000 | 6,000,000 | 5.3% |
| FS NU Investors, LP | | 8/11/2022 | 4,816,388 | 4,750,000 | 4.2% |
| Hg Vibranium Co-Invest L.P. | | 6/29/2022 | 7,007,148 | 7,019,558 | 6.2% |
| JMI Time Aggregator, L.P. | | 12/5/2022 | 5,026,211 | 5,000,000 | 4.4% |
| Onex ISO Co-Invest L.P. | | 10/29/2021 | 5,000,000 | 4,049,842 | 3.6% |
| Partners Group Client Access 43, L.P. | | 11/16/2022 | 6,184,697 | 6,157,046 | 5.5% |
| RCP MB Investments A, L.P. | | 7/11/2022 | 8,227,418 | 7,999,801 | 7.1% |
| TriSalus Life Sciences, Inc. Series B-1 Preferred Stock | 12/23/2021 | 8,000,000 | 8,000,000 | 7.1% |
| | | | | | |
| Portfolio Funds | | | | | |
| Arsenal Capital Partners Growth L.P. | | 2/28/2022 | 466,963 | 311,703 | 0.3% |
| Arsenal Capital Partners Fund VI (1B) | | 5/23/2022 | 1,513,854 | 1,270,157 | 1.1% |
| Cordillera Investment Fund III, L.P. | | 5/3/2022 | 765,966 | 750,540 | 0.7% |
| Hg Saturn 3 A, L.P. | | 7/5/2022 | 37,945 | 37,945 | 0.0% |
| ICG L.P. Secondaries Fund I L.P. | | 5/13/2022 | 2,178,348 | 3,152,991 | 2.8% |
| ICG Ludgate Hill IIA Boston L.P. Secondary Fund | | 12/22/2021 | 2,406,983 | 3,517,493 | 3.1% |
| Onex Structured Credit Opportunities Fund I, L.P. | 11/1/2021 | 2,881,106 | 3,056,683 | 2.7% |
| Partners Group Direct Equity IV (USD) A, L.P. | | 8/12/2021 | 4,993,706 | 5,430,292 | 4.8% |
| Partners Group Secondary 2020 (USD) A, L.P. | | 5/23/2022 | 1,808,711 | 2,319,056 | 2.1% |
| Saturn Five Frontier I, LLC - Class A | | 12/15/2021 | 2,331,901 | 2,331,901 | 2.1% |
| Total | | | $ 77,647,345 | $ 78,355,008 | |
