Grandeur Peak Global Trust NPORT-P Grandeur Peak Global Microcap Fund (Jul 2024 report)

Grandeur Peak Global Micro Cap Fund	Schedule of Investments
July 31, 2024 (Unaudited)

	Shares		Fair Value
COMMON STOCKS — 99.55%
Australia — 7.84%
Atturra ltd(a)		765,242	$	412,819
EQT Holdings Ltd		12,238		284,084
Fiducian Group Ltd		208,133		1,009,839
Imdex Ltd		178,344		267,929
Kogan.com Ltd(a)		329,412		974,566
Megaport Ltd(a)		33,940		245,685
PeopleIN Ltd		301,641		178,914
Silk Logistics Holdings Ltd		294,436		275,275
				3,649,111
Belgium — 0.47%
X-Fab Silicon Foundries S.E.(a)(b)(c)		34,079		218,137
Brazil — 1.01%
Armac Locacao Logistica E Servicos SA		111,800		173,368
Track & Field Co SA		64,700		126,643
Vinci Partners Invest Ltd		15,260		172,133
				472,144
Canada — 0.76%
BioSyent Inc(b)		48,100		355,321
China — 1.11%
Chaoju Eye Care Holdings Ltd		452,000		168,793
TK Group Holdings Ltd(b)		1,462,600		348,612
				517,405
Finland — 0.43%
Revenio Group Oyj		6,394		198,901
France — 2.74%
Esker SA		991		217,732
Neurones SA		8,295		378,147
Thermador Groupe		4,607		380,398
Wavestone		5,180		301,088
				1,277,365
Germany — 1.58%
Mensch und Maschine Software S		5,555		361,511
Nexus AG		6,251		375,041
				736,552
Greece — 1.81%
Kri-Kri Milk Industry SA		28,265		353,504
Sarantis SA		40,988		487,329
				840,833
Hong Kong — 1.59%
Plover Bay Tech(c)		1,383,600		741,503
India — 6.81%
Cera Sanitaryware Ltd		2,942		314,445
Gulf Oil Lubricants India Ltd.		36,679		529,923
Indigo Paints Ltd		24,458		438,249
Ksolves India Ltd		16,000		206,838
Marksans Pharma Ltd.		94,500		238,650
SJS Enterprises Ltd(a)		33,977		353,586
Vaibhav Global Ltd		80,463		328,556

	Shares		Fair Value
COMMON STOCKS — 99.55% (continued)
India — 6.81% (continued)
Yatharth Hospital(a)		139,000	$	762,555
				3,172,802
Indonesia — 1.26%
Ace Hardware Indonesia Tbk P.T.		3,026,500		148,975
Arwana Citramulia Tbk P.T.		3,364,400		145,873
Selamat Sempurna Tbk PT		2,309,700		292,619
				587,467
Ireland — 0.55%
Uniphar PLC(a)		90,411		255,286
Japan — 25.11%
Azoom Co Ltd		6,400		266,068
Beenos Inc		80,900		1,373,913
Bengo4.com Inc(a)		20,800		505,852
Central Automotive NPV(a)		7,300		241,344
Charm Care Corp KK		79,900		821,576
Creema Ltd(a)		49,200		99,521
CrowdWorks Inc(a)		20,100		136,364
Cyber Security Cloud Inc(a)		21,800		317,673
eGuarantee Inc		26,000		254,555
eWeLL Co Ltd(a)		19,100		190,889
F&M Co Ltd		16,300		176,665
FP Partner Inc(a)		6,700		138,471
Hennge KK(a)		50,900		361,991
Insource Co Ltd		28,000		164,205
Integral Corp(a)		13,400		365,112
MarkLines Company Ltd.(a)		23,000		459,395
Oro Co Ltd		46,500		789,638
Plus Alpha Consulting Company Ltd.		11,900		152,522
Prestige International Inc		50,000		237,403
Rise Consulting Group Inc(a)		44,000		230,925
Sun* Inc(a)		142,100		869,773
Synchro Food Co Ltd(a)		53,100		175,463
System Support, Inc.		55,600		731,878
Syuppin Company, Ltd.		28,600		276,814
Timee Inc(a)		21,400		207,153
ULS Group Inc		31,100		1,023,235
User Local inc		9,000		123,409
WDB coco Co Ltd		5,000		117,960
Yakuodo Holdings Company Limited		31,200		586,920
Ymirlink Inc(a)		32,600		288,492
				11,685,179
Luxembourg — 0.60%
Sword Group		7,482		277,376
Norway — 1.48%
Bouvet ASA		38,828		225,657
SmartCraft ASA(a)		166,002		465,639
				691,296
Oman — 0.47%
Tethys Oil AB		65,711		219,432

Grandeur Peak Global Micro Cap Fund	Schedule of Investments
July 31, 2024 (Unaudited)(Continued)

	Shares		Fair Value
COMMON STOCKS — 99.55% (continued)
Philippines — 0.77%
Pryce Corp(b)		2,652,400	$	358,715
Poland — 1.62%
Auto Partner SA		77,576		425,664
Shoper Spolka Akcyjna		30,600		328,111
				753,775
Singapore — 1.29%
Riverstone Holdings Ltd.(a)		841,725		601,305
South Korea — 0.67%
Douzone Bizon Co., Ltd(a)		3,066		138,159
MegaStudyEdu Co Ltd(a)		4,572		175,017
				313,176
Sweden — 5.66%
ADDvise Group AB(a)		538,100		308,442
BoneSupport Holding AB(a)		6,666		187,916
RVRC Holding AB		45,828		189,276
Sdiptech AB(a)		11,425		349,974
Swedencare AB(a)		218,921		947,375
Swedish Logistic(a)		105,935		376,176
Teqnion AB		8,129		152,413
Vitec Software Group		2,401		125,644
				2,637,216
Taiwan — 3.11%
Acer E-Enabling Service Busine		41,000		325,568
Gem Services Inc		107,000		219,384
M3 Technology Inc		53,000		204,450
Sporton International, Inc.(a)		76,699		528,286
Wistron Information Technology		47,477		172,583
				1,450,271
Thailand — 0.83%
Humanica PCL		1,280,000		385,792
United Kingdom — 14.37%
AB Dynamics PLC		18,515		468,831
Advanced Medical Solutions Gro		89,411		282,717
CVS Group plc		65,938		970,431
EKF Diagnostics Holdings PLC		400,873		140,153
Elixirr International PLC		93,105		700,091
Foresight Group Holdings Ltd		65,739		441,082
Franchise Brands PLC		162,415		363,246
FRP Advisory Group PLC		325,991		544,657
Impax Asset Management Group P		75,916		397,434
Marlowe plc(a)		36,611		207,165
Pensionbee Group PLC(a)		117,260		247,937
Raspberry PI Ltd(a)		29,173		141,742
SDI Group PLC(a)		225,400		185,421
Victorian Plumbing Group PLC(a)		271,436		325,867
Volution Group PLC		136,926		964,164
XPS Pensions Group PLC		73,829		306,518
				6,687,456

	Shares		Fair Value
COMMON STOCKS — 99.55% (continued)
United States — 15.61%
Advanced Oxygen Therapy(a)		92,746	$	159,744
Barrett Business Services, Inc.		25,972		946,419
Bowman Consulting Group Limited(a)		21,236		758,550
Esquire Financial Holdings, Inc.		7,091		437,302
Figs, Inc.(a)		73,388		477,022
Global Industrial Company		5,242		182,841
Hackett Group, Inc. (The)		33,010		900,513
Pennant Group, Inc. (The)(a)		58,150		1,733,452
Perella Weinberg Partners		35,540		671,706
Plumas Bancorp(a)		6,666		288,438
The Joint Corporation(a)		17,690		255,090
The Lovesac Company(a)		10,945		299,455
Treace Medical(a)		21,204		153,305
				7,263,837
Total Common Stocks (Cost $38,576,970)				46,347,653
Total Common Stocks/ Investments — 99.55% (Cost $38,576,970)				46,347,653
Other Assets in Excess of Liabilities — 0.45%				210,861
NET ASSETS — 100.00%			$	46,558,514

^(a) Non-income producing security.

^(b) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in the ordinary course of business in transactions exempt from registration, normally to qualified institutional buyers. As of July 31, 2024, these securities had a total aggregate market value of $218,137, representing 0.47% of net assets.

^(c) Security was purchased pursuant to Regulation S under the Securities Act of 1933, which exempts securities offered and sold outside of the United States from registration. Such security cannot be sold in the United States without either an effective registration statement filed pursuant to the Securities Act of 1933, or pursuant to an exemption from registration. As of July 31, 2024, the aggregate market value of these securities was $959,640, representing 2.06% of net assets.

Sector Composition (July 31, 2024)
Technology	25.0%
Consumer Discretionary	18.2%
Industrials	16.8%
Health Care	16.6%
Financials	11.3%
Communications	3.7%
Consumer Staples	3.1%
Materials	2.7%
Real Estate	0.8%
Utilities	0.8%
Energy	0.5%
Other Assets in Excess of Liabilities	0.5%
Total	100%

Grandeur Peak Global Micro Cap Fund	Schedule of Investments
July 31, 2024 (Unaudited)(Continued)

Industry Composition (July 31, 2024)
It Services	9.9%
Application Software	8.8%
Professional Services	8.2%
Health Care Services	6.4%
Online Marketplace	5.3%
Health Care Facilities	4.0%
Internet Media & Services	3.4%
Private Equity	3.3%
Auto Parts	3.3%
Other Commercial Support Services	2.5%
Investment Management	2.4%
Health Care Supplies	2.2%
Infrastructure Software	2.2%
Specialty Chemicals	2.1%
Comml & Res Bldg Equipment & Sys	2.1%
Other Spec Retail - Discr	2.0%
Apparel, Footwear & Acc Design	1.7%
Specialty & Generic Pharma	1.7%
Engineering Services	1.6%
Communications Equipment	1.6%
Banks	1.6%
Home Products Stores	1.5%
Institutional Brokerage	1.4%
Specialty Online Retailers	1.3%
Food & Drug Stores	1.3%
Wealth Management	1.2%
Specialty Technology Hardware	1.2%
Personal Care Products	1.1%
Life Science & Diagnostics	1.0%
Other Industries (each less than 1%)	13.2%
Other Assets in Excess of Liabilities	0.5%
Total	100%