Ultra Financials Schedule of Portfolio Investments May 31, 2021 See

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Ultra Financials Schedule of Portfolio Investments May 31, 2021

Investments Shares Value ($) Investments Shares Value ($) Coinbase Global, Inc., Class A* 1,296 306,556 COMMON STOCKS(a) - 61.7% FactSet Research Systems, Inc. 3,138 1,049,222 Federated Hermes, Inc., Class B 7,770 247,086 Banks - 16.1% Franklin Resources, Inc. 22,533 770,854 Bank of America Corp. 604,025 25,604,620 Goldman Sachs Group, Inc. (The) 28,404 10,566,856 Bank OZK 9,983 426,374 Interactive Brokers Group, Inc., BOK Financial Corp. 2,528 230,149 Class A 6,671 448,691 Citigroup, Inc. 172,334 13,564,409 Intercontinental Exchange, Inc. 46,378 5,235,149 Citizens Financial Group, Inc. 35,096 1,751,290 Invesco Ltd. 31,083 886,798 Comerica, Inc. 11,488 901,693 Janus Henderson Group plc 14,088 542,529 Commerce Bancshares, Inc.(b) 8,698 677,400 Jefferies Financial Group, Inc. 16,716 537,085 Cullen/Frost Bankers, Inc.(b) 4,646 560,819 KKR & Co., Inc. 47,611 2,651,457 East West Bancorp, Inc. 11,687 873,954 Lazard Ltd., Class A 9,308 439,151 Fifth Third Bancorp 58,703 2,473,744 LPL Financial Holdings, Inc. 6,582 973,346 First Citizens BancShares, Inc., MarketAxess Holdings, Inc. 3,140 1,464,936 Class A(b) 599 515,499 Moody's Corp. 13,283 4,454,454 First Financial Bankshares, Inc. 11,745 591,361 Morgan Stanley 123,877 11,266,613 First Horizon Corp. 45,864 874,627 Morningstar, Inc. 1,770 417,702 First Republic Bank 14,527 2,781,049 MSCI, Inc. 6,816 3,190,774 FNB Corp. 26,547 355,995 Nasdaq, Inc. 9,523 1,594,721 Glacier Bancorp, Inc. 7,877 458,835 Northern Trust Corp. 17,202 2,084,710 Home BancShares, Inc. 12,541 343,122 Raymond James Financial, Inc. 10,114 1,341,015 Huntington Bancshares, Inc. 83,985 1,332,002 S&P Global, Inc.(b) 19,874 7,541,587 JPMorgan Chase & Co. 251,937 41,378,133 SEI Investments Co. 9,832 623,742 KeyCorp 79,986 1,842,877 State Street Corp. 29,045 2,526,334 M&T Bank Corp. 10,620 1,706,528 Stifel Financial Corp. 8,667 600,450 People's United Financial, Inc. 35,132 664,346 T. Rowe Price Group, Inc. 18,823 3,601,781 Pinnacle Financial Partners, Inc. 6,273 570,341 Tradeweb Markets, Inc., Class A 8,391 702,998 PNC Financial Services Group, Inc. Virtu Financial, Inc., Class A 6,917 210,623 (The) 35,009 6,815,552 106,846,450 Popular, Inc. 6,954 567,516 Consumer Finance - 2.6% Prosperity Bancshares, Inc. 7,670 577,168 Ally Financial, Inc. 30,881 1,689,500 Regions Financial Corp. 79,315 1,856,764 American Express Co. 53,873 8,626,683 Signature Bank 4,713 1,177,072 Capital One Financial Corp. 37,918 6,096,456 SVB Financial Group* 4,455 2,596,775 Credit Acceptance Corp.*(b) 960 429,562 Synovus Financial Corp. 12,273 602,850 Discover Financial Services 25,324 2,969,492 TCF Financial Corp. 12,599 598,453 FirstCash, Inc. 3,387 270,012 Truist Financial Corp. 111,228 6,871,666 Green Dot Corp., Class A* 4,459 180,991 UMB Financial Corp. 3,579 346,125 LendingTree, Inc.* 900 184,725 Umpqua Holdings Corp. 18,197 347,199 OneMain Holdings, Inc. 7,539 436,056 United Bankshares, Inc. 10,649 438,632 PROG Holdings, Inc. 5,592 294,810 US Bancorp 112,839 6,858,354 Santander Consumer USA Valley National Bancorp 33,487 479,534 Holdings, Inc. 5,815 220,388 Webster Financial Corp. 7,457 422,663 SLM Corp. 27,667 560,257 Wells Fargo & Co. 341,324 15,946,657 Synchrony Financial 44,839 2,125,817 Western Alliance Bancorp 8,539 853,985 24,084,749 Wintrust Financial Corp. 4,697 377,733 Diversified Financial Services - 5.1% Zions Bancorp NA 13,559 784,795 Berkshire Hathaway, Inc., Class B* 157,423 45,564,513 148,998,660 Equitable Holdings, Inc. 32,360 1,027,430 Capital Markets - 11.6% Voya Financial, Inc. 10,219 669,549 Affiliated Managers Group, Inc. 3,516 576,624 47,261,492 Ameriprise Financial, Inc. 9,643 2,505,637 Equity Real Estate Investment Trusts (REITs) - 10.9% Apollo Global Management, Inc. 17,426 999,207 Alexandria Real Estate Equities, Ares Management Corp. 8,926 492,537 Inc. 10,497 1,871,195 Bank of New York Mellon Corp. American Campus Communities, (The) 66,607 3,468,892 Inc. 11,364 535,926 BlackRock, Inc. 11,720 10,278,909 American Homes 4 Rent, Class A 22,185 844,583 Blackstone Group, Inc. (The), Class American Tower Corp. 37,465 9,570,809 A 56,454 5,231,592 Americold Realty Trust(b) 20,839 792,299 Carlyle Group, Inc. (The) 9,647 420,995 Apartment Income REIT Corp. 12,292 572,561 Cboe Global Markets, Inc. 8,852 985,228 Apartment Investment and Charles Schwab Corp. (The) 123,560 9,124,906 Management Co., Class A 12,292 86,659 CME Group, Inc. 29,643 6,484,703 AvalonBay Communities, Inc. 11,519 2,383,742

See accompanying notes to the financial statements.

Ultra Financials Schedule of Portfolio Investments May 31, 2021

Investments Shares Value ($) Investments Shares Value ($) Boston Properties, Inc. 11,706 1,376,157 Welltower, Inc. 34,461 2,576,649 Brixmor Property Group, Inc. 24,501 556,418 Weyerhaeuser Co. 61,741 2,343,688 Camden Property Trust 8,053 1,009,685 WP Carey, Inc. 14,478 1,092,365 CoreSite Realty Corp. 3,528 427,770 100,336,695 Corporate Office Properties Trust 9,265 255,714 Insurance - 7.8% Cousins Properties, Inc. 12,266 454,946 Aflac, Inc. 52,874 2,996,898 Crown Castle International Corp. 35,607 6,747,527 Alleghany Corp.* 1,158 829,788 CubeSmart 16,491 722,141 Allstate Corp. (The) 25,004 3,415,796 CyrusOne, Inc. 9,947 733,591 American Financial Group, Inc. 5,778 768,821 Digital Realty Trust, Inc. 23,208 3,517,405 American International Group, Inc. 71,400 3,772,776 Douglas Emmett, Inc. 13,620 472,887 Aon plc, Class A(b) 18,654 4,726,364 Duke Realty Corp. 30,860 1,433,756 Arch Capital Group Ltd.* 33,271 1,327,180 EastGroup Properties, Inc. 3,276 517,870 Arthur J Gallagher & Co. 16,915 2,479,908 Equinix, Inc. 7,371 5,430,363 Assurant, Inc. 4,777 769,814 Equity Commonwealth 10,041 275,525 Athene Holding Ltd., Class A* 10,283 644,024 Equity LifeStyle Properties, Inc. 13,983 990,835 Axis Capital Holdings Ltd. 6,618 354,990 Equity Residential 28,307 2,192,377 Brighthouse Financial, Inc.* 7,214 351,033 Essex Property Trust, Inc. 5,365 1,584,231 Brown & Brown, Inc. 19,332 1,015,317 Extra Space Storage, Inc. 10,904 1,633,528 Chubb Ltd. 37,173 6,319,038 Federal Realty Investment Trust 5,766 659,285 Cincinnati Financial Corp. 12,375 1,506,161 First Industrial Realty Trust, Inc. 10,662 539,924 CNA Financial Corp. 2,244 107,286 Gaming and Leisure Properties, Inc. 18,067 837,586 Enstar Group Ltd.* 1,090 276,740 Healthcare Realty Trust, Inc. 11,538 350,063 Erie Indemnity Co., Class A 2,062 414,730 Healthcare Trust of America, Inc., Everest Re Group Ltd. 3,304 858,908 Class A 18,061 495,052 Fidelity National Financial, Inc. 24,042 1,129,734 Healthpeak Properties, Inc. 44,473 1,484,509 First American Financial Corp. 9,072 583,420 Highwoods Properties, Inc. 8,577 391,797 Globe Life, Inc. 7,842 826,704 Host Hotels & Resorts, Inc.* 58,237 999,929 Hanover Insurance Group, Inc. Hudson Pacific Properties, Inc. 12,464 361,331 (The) 3,002 418,749 Invitation Homes, Inc. 46,830 1,698,524 Hartford Financial Services Group, Iron Mountain, Inc.(b) 23,813 1,036,818 Inc. (The) 29,520 1,929,132 JBG SMITH Properties 9,124 293,884 Kemper Corp. 5,081 380,414 Kilroy Realty Corp. 8,740 613,635 Lincoln National Corp. 14,895 1,039,522 Kimco Realty Corp. 35,704 760,852 Loews Corp. 18,737 1,093,866 Lamar Advertising Co., Class A 7,138 748,205 Markel Corp.* 1,139 1,395,833 Lexington Realty Trust 22,916 283,700 Marsh & McLennan Cos., Inc. 41,955 5,804,474 Life Storage, Inc. 6,227 619,213 Mercury General Corp. 2,195 139,602 Medical Properties Trust, Inc. 47,884 1,013,704 MetLife, Inc. 62,067 4,056,699 Mid-America Apartment Old Republic International Corp. 23,353 613,250 Communities, Inc. 9,447 1,518,133 Primerica, Inc. 3,248 526,858 National Health Investors, Inc. 3,729 245,778 Principal Financial Group, Inc. 20,933 1,368,809 National Retail Properties, Inc. 14,473 670,824 Progressive Corp. (The) 48,357 4,791,212 Omega Healthcare Investors, Inc. 19,137 700,797 Prudential Financial, Inc. 32,776 3,506,049 Physicians Realty Trust 17,390 315,281 Reinsurance Group of America, PotlatchDeltic Corp. 5,523 332,485 Inc. 5,613 707,406 Prologis, Inc. 61,058 7,195,075 RenaissanceRe Holdings Ltd. 4,189 645,609 PS Business Parks, Inc. 1,658 256,924 RLI Corp. 3,282 346,185 Public Storage 12,553 3,545,972 Selective Insurance Group, Inc. 4,947 372,361 Rayonier, Inc. 11,380 434,602 Travelers Cos., Inc. (The) 20,820 3,324,954 Realty Income Corp. 30,828 2,108,635 Unum Group 16,823 521,008 Regency Centers Corp. 13,042 842,513 W R Berkley Corp. 11,570 902,344 Rexford Industrial Realty, Inc. 10,853 599,411 White Mountains Insurance Group Sabra Health Care REIT, Inc. 17,394 303,873 Ltd. 259 309,080 SBA Communications Corp. 9,027 2,691,129 Willis Towers Watson plc 10,649 2,783,223 Simon Property Group, Inc. 27,125 3,485,291 72,452,069 SL Green Realty Corp. 5,724 453,455 IT Services - 6.3% Spirit Realty Capital, Inc. 9,481 448,072 Mastercard, Inc., Class A 72,386 26,100,944 STORE Capital Corp. 19,803 681,223 Visa, Inc., Class A 140,034 31,829,728 Sun Communities, Inc. 9,216 1,542,943 57,930,672 UDR, Inc. 24,506 1,167,221 Mortgage Real Estate Investment Trusts (REITs) - 0.4% Ventas, Inc. 30,930 1,715,069 AGNC Investment Corp. 44,413 823,417 VEREIT, Inc. 18,909 899,501 Annaly Capital Management, Inc. 115,460 1,070,314 VICI Properties, Inc. 44,292 1,378,810 Vornado Realty Trust 12,954 612,465

See accompanying notes to the financial statements.

Ultra Financials Schedule of Portfolio Investments May 31, 2021

Investments Shares Value ($)

Blackstone Mortgage Trust, Inc., * Non-income producing security. Class A 12,142 388,908 (a) All or a portion of these securities are segregated in connection New Residential Investment Corp. 37,959 401,606 with obligations for swaps with a total value of $188,244,242. Starwood Property Trust, Inc. 23,566 598,341 (b) The security or a portion of this security is on loan at May 31, 3,282,586 2021. The total value of securities on loan at May 31, 2021 was Professional Services - 0.3% $3,646,744, collateralized in the form of cash with a value of $377,197 that was reinvested in the securities shown in the CoStar Group, Inc.* 3,254 2,778,916 Securities Lending Reinvestment section of the Schedule of Investments and $3,366,860 of collateral in the form of U.S. Real Estate Management & Development - 0.4% Government Treasury Securities, interest rates ranging from CBRE Group, Inc., Class A* 27,706 2,432,033 0.00% – 6.88%, and maturity dates ranging from June 24, 2021 Howard Hughes Corp. (The)* 3,729 394,640 – November 15, 2050. The total value of collateral is Jones Lang LaSalle, Inc.* 4,223 854,102 $3,744,057. 3,680,775 (c) The security was purchased with cash collateral held from Thrifts & Mortgage Finance - 0.2% securities on loan at May 31, 2021. The total value of securities Essent Group Ltd. 9,314 445,582 purchased was $377,197. MGIC Investment Corp. 27,954 411,483 (d) Represents less than 0.05% of net assets. New York Community Bancorp, (e) The Fund invests in Repurchase Agreements jointly with other Inc. 38,451 460,258 funds in the Trust. See "Repurchase Agreements" in the Notes Radian Group, Inc. 15,825 369,514 to Financial Statements to view the details of each individual agreement and counterparty as well as a description of the Rocket Cos., Inc., Class A(b) 9,524 168,670 securities subject to repurchase. TFS Financial Corp. 3,937 87,244 1,942,751

TOTAL COMMON STOCKS As of May 31, 2021, the gross unrealized appreciation (depreciation) of (COST $426,453,531) 569,595,815 investments based on the aggregate cost of investment securities and derivative instruments, if applicable, for federal income tax purposes was as follows: SECURITIES LENDING REINVESTMENTS(c) - 0.0%(d) Aggregate gross unrealized appreciation $ 338,956,011

Aggregate gross unrealized depreciation (6,145,263) INVESTMENT COMPANIES - 0.0%(d) Net unrealized appreciation $ 332,810,748 BlackRock Liquidity FedFund, Institutional Class 0.03% (Cost $377,197) 377,197 377,197 Federal income tax cost $ 589,762,296

Principal Investments Amount ($) Value ($)

SHORT-TERM INVESTMENTS - 17.5%

REPURCHASE AGREEMENTS(e) - 17.5% Repurchase Agreements with various counterparties, rates 0.00% - 0.01%, dated 5/28/2021, due 6/1/2021, total to be received $161,844,342 (Cost $161,844,317) 161,844,317 161,844,317

Total Investments - 79.2% (Cost $588,675,045) 731,817,329 Other assets less liabilities - 20.8% 191,899,550 Net Assets - 100.0% 923,716,879

See accompanying notes to the financial statements.

Ultra Financials Schedule of Portfolio Investments May 31, 2021

Swap Agreementsa Ultra Financials had the following open non-exchange traded total return swap agreements as of May 31, 2021:

Financial Cash Instruments Collateral for for the the Benefit of Value and Benefit of (the (the Fund)/ Unrealized Fund)/ the the Notional Termination Rate Paid Appreciationd Counterparty Counterparty Net Amount ($) Dateb Counterparty (Received)c Underlying Instrument ($) ($) ($) Amounte ($) Bank of Dow Jones U.S. 203,313,422 11/7/2022 America NA 0.65% FinancialsSM Indexf 49,639,043 (49,639,043 ) — —

BNP Paribas Dow Jones U.S. 112,206,294 11/7/2022 SA 0.65% FinancialsSM Indexf 24,927,270 (24,825,653 ) (101,617) —

Dow Jones U.S. 217,867,478 11/6/2023 Citibank NA 0.76% FinancialsSM Indexf 26,100,628 — (25,710,000) 390,628

Credit Suisse Dow Jones U.S. 147,552,323 11/8/2021 International 0.65% FinancialsSM Indexf 28,534,445 — (28,275,068) 259,377

Goldman Sachs Dow Jones U.S. 100,516,686 11/7/2022 International 0.56% FinancialsSM Indexf 17,281,474 (17,281,474 ) — —

Morgan Stanley & Co. International Dow Jones U.S. 10,579,979 11/7/2022 plc 0.07% FinancialsSM Indexf 2,040,929 (2,040,929) — —

Societe Dow Jones U.S. 346,130,570 11/7/2022 Generale 0.80% FinancialsSM Indexf 20,008,842 (20,008,842 ) — —

Dow Jones U.S. 141,573,780 11/7/2022 UBS AG 0.75% FinancialsSM Indexf 22,223,084 — (21,990,000) 233,084

1,279,740,532 190,755,715

Total Unrealized Appreciation 190,755,715

a The Fund's Swap Agreements are not accounted for as hedging instruments under ASC 815. b Agreements may be terminated at will by either party without penalty. Payment is due at termination/maturity. c Reflects the floating financing rate, as of May 31, 2021, on the notional amount of the swap agreement paid to the counterparty or received from the counterparty, excluding any commissions. This amount is included as part of the unrealized appreciation/(depreciation). d The Fund discloses amounts due to the Fund from the counterparty (unrealized appreciation on swap agreements) at period end as an asset on its Statement of Assets and Liabilities. Amounts due to the counterparty from the Fund (unrealized depreciation on swap agreements) are disclosed as a liability on its Statement of Assets and Liabilities. The Fund presents these amounts on a gross basis and does not offset or "net" these amounts on its Statement of Assets and Liabilities. e Represents the "uncollateralized" amount due from or (to) the counterparty at period end. These amounts could be due to timing differences between the movement of collateral in relation to market movements, or due to agreement provisions allowing minimum "thresholds" that would need to be exceeded prior to the movement of collateral. To the extent that a net amount is due from a counterparty, the Fund would be exposed to the counterparty by such amount and could suffer losses or delays in recovery of that amount in the event of a counterparty default. f See the Common Stocks section of the preceding Schedule of Portfolio Investments for the representative components of the underlying reference instrument and their relative weightings.

See accompanying notes to the financial statements.

Ultra MidCap400 Schedule of Portfolio Investments May 31, 2021

Investments Shares Value ($) Investments Shares Value ($) Beverages - 0.3% COMMON STOCKS(a) - 83.4% Boston Beer Co., Inc. (The), Class A* 615 650,768 Aerospace & Defense - 0.8% Axon Enterprise, Inc.* 4,264 599,475 Biotechnology - 1.5% Curtiss-Wright Corp. 2,737 343,001 Arrowhead Pharmaceuticals, Inc.* 6,939 503,771 Hexcel Corp.* 5,589 332,322 Emergent BioSolutions, Inc.* 3,029 183,709 Mercury Systems, Inc.* 3,753 245,634 Exelixis, Inc.* 20,858 470,348 1,520,432 Halozyme Therapeutics, Inc.*(b) 8,501 352,026 Air Freight & Logistics - 0.5% Ligand Pharmaceuticals, Inc.* 1,111 130,765 XPO Logistics, Inc.* 6,833 1,003,973 Neurocrine Biosciences, Inc.* 6,280 604,262 United Therapeutics Corp.* 2,978 553,610 Airlines - 0.2% 2,798,491 JetBlue Airways Corp.* 21,128 424,673 Building Products - 1.7% Builders FirstSource, Inc.* 13,798 614,563 Auto Components - 1.5% Lennox International, Inc. 2,296 803,439 Adient plc* 6,287 314,727 Owens Corning 7,015 748,150 Dana, Inc. 9,672 262,401 Simpson Manufacturing Co., Inc. 2,897 325,391 Fox Factory Holding Corp.* 2,795 434,567 Trex Co., Inc.* 7,742 754,148 Gentex Corp. 16,290 578,295 3,245,691 Goodyear Tire & Rubber Co. Capital Markets - 2.2% (The)* 15,597 309,289 Affiliated Managers Group, Inc. 2,849 467,236 Lear Corp. 3,657 707,118 Evercore, Inc., Class A 2,809 409,721 Visteon Corp.* 1,866 228,510 FactSet Research Systems, Inc. 2,539 848,940 2,834,907 Federated Hermes, Inc., Class B 6,291 200,054 Automobiles - 0.5% Interactive Brokers Group, Inc., Harley-Davidson, Inc. 10,249 496,769 Class A 5,401 363,271 Thor Industries, Inc. 3,701 455,223 Janus Henderson Group plc 11,407 439,283 951,992 Jefferies Financial Group, Inc. 13,537 434,944 Banks - 6.3% SEI Investments Co. 7,963 505,173 Associated Banc-Corp. 10,217 234,889 Stifel Financial Corp. 7,018 486,207 BancorpSouth Bank 6,442 196,996 4,154,829 Bank of Hawaii Corp. 2,683 240,772 Chemicals - 2.3% Bank OZK 8,082 345,182 Ashland Global Holdings, Inc. 3,650 346,166 Cathay General Bancorp 4,997 208,275 Avient Corp. 6,103 317,234 CIT Group, Inc. 6,599 349,615 Cabot Corp. 3,785 240,650 Commerce Bancshares, Inc. 7,044 548,587 Chemours Co. (The) 11,042 396,739 Cullen/Frost Bankers, Inc. 3,758 453,628 Ingevity Corp.* 2,710 223,060 East West Bancorp, Inc. 9,464 707,718 Minerals Technologies, Inc. 2,263 196,881 First Financial Bankshares, Inc. 9,510 478,829 NewMarket Corp. 489 167,839 First Horizon Corp. 37,135 708,164 Olin Corp. 9,546 466,704 FNB Corp. 21,495 288,248 RPM International, Inc. 8,698 813,524 Fulton Financial Corp. 10,854 188,100 Scotts Miracle-Gro Co. (The) 2,718 590,812 Glacier Bancorp, Inc. 6,380 371,635 Sensient Technologies Corp. 2,836 246,023 Hancock Whitney Corp. 5,800 287,158 Valvoline, Inc. 12,129 400,257 Home BancShares, Inc. 10,157 277,896 4,405,889 International Bancshares Corp. 3,724 172,794 Commercial Services & Supplies - 1.5% PacWest Bancorp 7,809 352,733 Brink's Co. (The) 3,310 249,607 Pinnacle Financial Partners, Inc. 5,080 461,874 Clean Harbors, Inc.* 3,370 313,747 Prosperity Bancshares, Inc. 6,213 467,528 Healthcare Services Group, Inc. 4,995 149,800 Signature Bank 3,815 952,796 Herman Miller, Inc. 3,943 188,475 Sterling Bancorp 12,933 344,535 IAA, Inc.* 8,995 512,445 Synovus Financial Corp. 9,937 488,105 KAR Auction Services, Inc.*(b) 8,671 155,558 TCF Financial Corp. 10,202 484,595 MSA Safety, Inc. 2,430 408,386 Texas Capital Bancshares, Inc.* 3,374 232,401 Stericycle, Inc.* 6,124 481,101 Trustmark Corp. 4,239 142,218 Tetra Tech, Inc. 3,625 433,079 UMB Financial Corp. 2,899 280,362 2,892,198 Umpqua Holdings Corp. 14,735 281,144 Communications Equipment - 0.7% United Bankshares, Inc. 8,622 355,140 Ciena Corp.* 10,373 548,420 Valley National Bancorp 27,116 388,301 Lumentum Holdings, Inc.* 5,061 411,814 Webster Financial Corp. 6,036 342,121 NetScout Systems, Inc.* 4,910 144,354 Wintrust Financial Corp. 3,803 305,837 Viasat, Inc.* 4,549 241,916 11,938,176 1,346,504

See accompanying notes to the financial statements.

Ultra MidCap400 Schedule of Portfolio Investments May 31, 2021

Investments Shares Value ($) Investments Shares Value ($) Construction & Engineering - 1.2% Vontier Corp.* 11,268 395,281 AECOM* 9,875 641,974 5,134,924 Dycom Industries, Inc.* 2,047 153,361 Energy Equipment & Services - 0.2% EMCOR Group, Inc. 3,663 461,941 ChampionX Corp.* 12,464 330,296 Fluor Corp.* 8,375 154,937 MasTec, Inc.* 3,770 438,564 Entertainment - 0.2% Valmont Industries, Inc. 1,418 351,664 Cinemark Holdings, Inc.* 7,214 163,469 2,202,441 World Wrestling Entertainment, Construction Materials - 0.2% Inc., Class A 3,124 174,444 Eagle Materials, Inc.* 2,804 411,515 337,913 Equity Real Estate Investment Trusts (REITs) - 7.6% Consumer Finance - 0.7% American Campus Communities, FirstCash, Inc. 2,744 218,752 Inc. 9,202 433,966 LendingTree, Inc.* 728 149,422 Apartment Income REIT Corp. 9,952 463,564 Navient Corp. 12,286 224,465 Brixmor Property Group, Inc. 19,840 450,566 PROG Holdings, Inc. 4,528 238,716 Camden Property Trust 6,522 817,728 SLM Corp. 22,406 453,722 CoreSite Realty Corp. 2,859 346,654 1,285,077 Corporate Office Properties Trust 7,500 207,000 Containers & Packaging - 0.8% Cousins Properties, Inc. 9,932 368,378 AptarGroup, Inc. 4,356 641,682 CyrusOne, Inc. 8,053 593,909 Greif, Inc., Class A 1,773 109,412 Douglas Emmett, Inc. 11,027 382,857 Silgan Holdings, Inc. 5,224 220,087 EastGroup Properties, Inc. 2,651 419,070 Sonoco Products Co. 6,717 453,532 EPR Properties* 4,998 245,652 1,424,713 First Industrial Realty Trust, Inc. 8,633 437,175 Diversified Consumer Services - 0.9% Healthcare Realty Trust, Inc. 9,345 283,527 Adtalem Global Education, Inc.* 3,353 121,982 Highwoods Properties, Inc. 6,947 317,339 Graham Holdings Co., Class B 270 178,886 Hudson Pacific Properties, Inc. 10,092 292,567 Grand Canyon Education, Inc.* 3,134 285,006 JBG SMITH Properties 7,390 238,032 H&R Block, Inc. 12,262 304,343 Kilroy Realty Corp. 7,079 497,017 Service Corp. International 11,327 600,557 Lamar Advertising Co., Class A 5,782 606,069 Strategic Education, Inc. 1,632 115,611 Life Storage, Inc. 5,045 501,675 WW International, Inc.* 3,182 125,053 Macerich Co. (The) 7,760 123,462 1,731,438 Medical Properties Trust, Inc. 38,775 820,867 Diversified Telecommunication Services - 0.2% National Retail Properties, Inc. 11,718 543,129 Iridium Communications, Inc.* 7,900 301,859 National Storage Affiliates Trust 4,317 199,014 Omega Healthcare Investors, Inc. 15,495 567,427 Electric Utilities - 0.9% Park Hotels & Resorts, Inc.* 15,803 328,544 ALLETE, Inc. 3,475 239,393 Pebblebrook Hotel Trust 8,779 196,211 Hawaiian Electric Industries, Inc. 7,299 314,222 Physicians Realty Trust 14,078 255,234 IDACORP, Inc. 3,374 330,483 PotlatchDeltic Corp. 4,474 269,335 OGE Energy Corp. 13,372 461,334 PS Business Parks, Inc. 1,342 207,956 PNM Resources, Inc. 5,738 281,851 Rayonier, Inc. 9,214 351,883 1,627,283 Rexford Industrial Realty, Inc. 8,787 485,306 Electrical Equipment - 1.4% Sabra Health Care REIT, Inc. 14,087 246,100 Acuity Brands, Inc. 2,409 447,472 Service Properties Trust 11,019 138,399 EnerSys 2,854 268,961 SL Green Realty Corp. 4,636 367,264 Hubbell, Inc. 3,630 692,023 Spirit Realty Capital, Inc. 7,679 362,910 nVent Electric plc 11,243 365,847 STORE Capital Corp. 16,036 551,638 Regal Beloit Corp. 2,716 386,297 Urban Edge Properties 7,354 142,300 Sunrun, Inc.*(b) 10,699 478,459 Weingarten Realty Investors 8,025 262,979 2,639,059 14,322,703 Electronic Equipment, Instruments & Components - 2.7% Food & Staples Retailing - 0.7% Arrow Electronics, Inc.* 4,987 600,086 BJ's Wholesale Club Holdings, Avnet, Inc. 6,644 292,735 Inc.* 9,178 411,083 Belden, Inc. 2,985 151,041 Casey's General Stores, Inc. 2,470 545,475 Cognex Corp. 11,768 934,262 Grocery Outlet Holding Corp.* 5,795 197,436 Coherent, Inc.* 1,633 428,842 Sprouts Farmers Market, Inc.* 7,886 209,767 II-VI, Inc.*(b) 6,998 471,455 1,363,761 Jabil, Inc. 9,052 510,985 Food Products - 1.5% Littelfuse, Inc. 1,640 428,434 Darling Ingredients, Inc.* 10,870 744,160 National Instruments Corp. 8,798 358,958 Flowers Foods, Inc. 13,162 317,073 SYNNEX Corp. 2,760 349,416 Hain Celestial Group, Inc. (The)* 5,477 223,243 Vishay Intertechnology, Inc. 8,867 213,429 Ingredion, Inc. 4,487 425,951

See accompanying notes to the financial statements.

Ultra MidCap400 Schedule of Portfolio Investments May 31, 2021

Investments Shares Value ($) Investments Shares Value ($) Lancaster Colony Corp. 1,308 244,164 Household Durables - 1.3% Pilgrim's Pride Corp.* 3,256 78,274 Helen of Troy Ltd.*(b) 1,631 343,293 Post Holdings, Inc.* 4,002 462,351 KB Home 5,950 278,519 Sanderson Farms, Inc. 1,329 216,295 Taylor Morrison Home Corp., Class Tootsie Roll Industries, Inc. 1,192 37,298 A* 8,613 255,117 TreeHouse Foods, Inc.* 3,737 182,029 Tempur Sealy International, Inc. 12,767 491,530 2,930,838 Toll Brothers, Inc. 7,490 488,648 Gas Utilities - 1.1% TopBuild Corp.* 2,207 437,096 National Fuel Gas Co. 6,095 316,270 Tri Pointe Homes, Inc.* 7,969 192,212 New Jersey Resources Corp. 6,435 274,903 2,486,415 ONE Gas, Inc. 3,560 264,579 Household Products - 0.1% Southwest Gas Holdings, Inc. 3,826 252,554 Energizer Holdings, Inc. 3,885 178,865 Spire, Inc. 3,454 247,514 UGI Corp. 13,942 642,029 Industrial Conglomerates - 0.4% 1,997,849 Carlisle Cos., Inc. 3,563 685,236 Health Care Equipment & Supplies - 2.8% Cantel Medical Corp.* 2,515 204,545 Insurance - 3.5% Envista Holdings Corp.* 10,702 467,035 Alleghany Corp.* 935 669,993 Globus Medical, Inc., Class A* 5,167 372,334 American Financial Group, Inc. 4,679 622,588 Haemonetics Corp.* 3,398 191,851 Brighthouse Financial, Inc.* 5,842 284,272 Hill-Rom Holdings, Inc. 4,437 493,749 Brown & Brown, Inc. 15,653 822,095 ICU Medical, Inc.* 1,314 273,391 CNO Financial Group, Inc. 9,001 239,066 Integra LifeSciences Holdings First American Financial Corp. 7,344 472,293 Corp.* 4,738 327,159 Hanover Insurance Group, Inc. LivaNova plc* 3,253 271,756 (The) 2,433 339,379 Masimo Corp.* 3,399 732,825 Kemper Corp. 4,113 307,940 Neogen Corp.* 3,560 328,624 Kinsale Capital Group, Inc. 1,431 238,204 NuVasive, Inc.* 3,435 234,267 Mercury General Corp. 1,776 112,954 Penumbra, Inc.* 2,266 564,483 Old Republic International Corp. 18,912 496,629 Quidel Corp.* 2,575 304,133 Primerica, Inc. 2,629 426,450 STAAR Surgical Co.* 3,113 454,591 Reinsurance Group of America, 5,220,743 Inc. 4,544 572,680 Health Care Providers & Services - 2.6% RenaissanceRe Holdings Ltd. 3,390 522,467 Acadia Healthcare Co., Inc.* 5,953 383,135 RLI Corp. 2,656 280,155 Amedisys, Inc.* 2,196 567,381 Selective Insurance Group, Inc. 4,003 301,306 Chemed Corp. 1,072 526,716 6,708,471 Encompass Health Corp. 6,636 569,302 Interactive Media & Services - 0.2% HealthEquity, Inc.* 5,543 460,734 TripAdvisor, Inc.* 6,445 280,035 LHC Group, Inc.* 2,112 415,747 Yelp, Inc.* 4,709 188,878 Molina Healthcare, Inc.* 3,877 974,523 468,913 Patterson Cos., Inc. 5,814 189,188 Internet & Direct Marketing Retail - 0.2% Progyny, Inc.* 2,449 156,834 Grubhub, Inc.* 6,234 374,726 R1 RCM, Inc.* 9,210 213,212 Tenet Healthcare Corp.* 7,100 475,061 IT Services - 1.5% 4,931,833 Alliance Data Systems Corp. 3,322 402,128 Hotels, Restaurants & Leisure - 2.4% Concentrix Corp.* 2,780 424,562 Boyd Gaming Corp.* 5,384 346,676 Genpact Ltd. 11,697 535,021 Choice Hotels International, Inc.* 1,930 233,356 LiveRamp Holdings, Inc.* 4,473 224,723 Churchill Downs, Inc. 2,315 461,912 Maximus, Inc. 4,108 380,688 Cracker Barrel Old Country Store, Sabre Corp.* 21,214 293,814 Inc. 1,586 250,144 WEX, Inc.* 2,954 578,718 Jack in the Box, Inc. 1,526 173,353 2,839,654 Marriott Vacations Worldwide Leisure Products - 1.0% Corp.* 2,754 474,487 Brunswick Corp. 5,200 531,596 Papa John's International, Inc. 2,201 206,784 Mattel, Inc.* 23,276 493,684 Scientific Games Corp.* 3,763 272,968 Polaris, Inc. 3,894 510,971 Six Flags Entertainment Corp.* 5,068 230,239 YETI Holdings, Inc.*(b) 5,012 439,051 Texas Roadhouse, Inc. 4,375 440,606 1,975,302 Travel + Leisure Co. 5,745 374,287 Life Sciences Tools & Services - 1.7% Wendy's Co. (The) 11,972 277,990 Bio-Techne Corp. 2,594 1,073,475 Wingstop, Inc. 1,985 283,220 Medpace Holdings, Inc.* 1,839 307,223 Wyndham Hotels & Resorts, Inc. 6,229 467,549 PRA Health Sciences, Inc.* 4,315 737,520 4,493,571 Repligen Corp.* 3,403 621,422

See accompanying notes to the financial statements.

Ultra MidCap400 Schedule of Portfolio Investments May 31, 2021

Investments Shares Value ($) Investments Shares Value ($) Syneos Health, Inc.* 5,987 526,257 Paper & Forest Products - 0.3% 3,265,897 Louisiana-Pacific Corp. 7,120 478,535 Machinery - 4.4% AGCO Corp. 4,124 570,638 Personal Products - 0.2% Colfax Corp.*(b) 7,709 340,738 Coty, Inc., Class A* 18,967 168,996 Crane Co. 3,305 315,594 Nu Skin Enterprises, Inc., Class A 3,399 204,484 Donaldson Co., Inc. 8,432 519,327 373,480 Flowserve Corp. 8,709 369,174 Pharmaceuticals - 0.5% Graco, Inc. 11,283 854,349 Jazz Pharmaceuticals plc* 4,016 715,370 ITT, Inc. 5,783 543,024 Nektar Therapeutics* 12,179 220,075 Kennametal, Inc. 5,584 209,456 935,445 Lincoln Electric Holdings, Inc. 3,989 512,906 Professional Services - 1.5% Middleby Corp. (The)* 3,720 611,122 ASGN, Inc.* 3,543 365,248 Nordson Corp. 3,613 800,966 CACI International, Inc., Class A* 1,687 430,118 Oshkosh Corp. 4,572 600,944 CoreLogic, Inc. 4,890 388,755 Terex Corp. 4,640 242,997 FTI Consulting, Inc.* 2,289 314,852 Timken Co. (The) 4,555 402,890 Insperity, Inc. 2,376 219,043 Toro Co. (The) 7,195 799,292 KBR, Inc. 9,416 383,608 Trinity Industries, Inc. 5,490 152,512 ManpowerGroup, Inc. 3,677 444,880 Woodward, Inc. 3,920 498,545 Science Applications International 8,344,474 Corp. 3,892 349,735 Marine - 0.1% 2,896,239 Kirby Corp.* 4,017 262,431 Real Estate Management & Development - 0.4% Jones Lang LaSalle, Inc.* 3,417 691,088 Media - 0.8% Cable One, Inc. 363 659,049 Road & Rail - 0.8% John Wiley & Sons, Inc., Class A 2,911 184,499 Avis Budget Group, Inc.* 3,455 303,418 New York Times Co. (The), Class Knight-Swift Transportation A 9,693 415,054 Holdings, Inc. 8,195 391,147 TEGNA, Inc. 14,685 284,742 Landstar System, Inc. 2,566 437,503 1,543,344 Ryder System, Inc. 3,590 293,626 Metals & Mining - 2.0% Werner Enterprises, Inc. 3,819 183,274 Cleveland-Cliffs, Inc.*(b) 30,686 617,402 1,608,968 Commercial Metals Co. 8,027 252,610 Semiconductors & Semiconductor Equipment - 3.2% Compass Minerals International, Amkor Technology, Inc. 7,154 150,949 Inc. 2,271 158,743 Brooks Automation, Inc. 4,962 506,571 Reliance Steel & Aluminum Co. 4,252 714,634 Cirrus Logic, Inc.* 3,880 302,912 Royal Gold, Inc. 4,386 542,855 CMC Materials, Inc. 1,950 300,944 Steel Dynamics, Inc. 13,401 836,624 Cree, Inc.* 7,704 770,477 United States Steel Corp.(b) 17,547 454,994 First Solar, Inc.* 5,668 431,391 Worthington Industries, Inc. 2,303 152,850 Lattice Semiconductor Corp.* 9,128 484,423 3,730,712 MKS Instruments, Inc. 3,692 694,945 Multiline Retail - 0.6% Semtech Corp.* 4,346 273,798 Kohl's Corp. 10,540 584,864 Silicon Laboratories, Inc.* 2,937 401,077 Nordstrom, Inc.* 7,279 244,138 SolarEdge Technologies, Inc.* 3,448 889,618 Ollie's Bargain Outlet Holdings, Synaptics, Inc.* 2,333 294,728 Inc.*(b) 3,805 328,904 Universal Display Corp. 2,866 618,655 1,157,906 6,120,488 Multi-Utilities - 0.5% Software - 3.1% Black Hills Corp. 4,198 276,187 ACI Worldwide, Inc.* 7,831 299,614 MDU Resources Group, Inc. 13,406 451,246 Aspen Technology, Inc.*(b) 4,519 616,708 NorthWestern Corp. 3,384 214,376 Blackbaud, Inc.* 3,234 228,611 941,809 CDK Global, Inc. 8,140 426,047 Oil, Gas & Consumable Fuels - 1.0% Ceridian HCM Holding, Inc.* 8,754 783,133 Antero Midstream Corp.(b) 19,130 183,648 CommVault Systems, Inc.* 3,142 239,326 Cimarex Energy Co. 6,873 465,646 Fair Isaac Corp.* 1,955 989,347 CNX Resources Corp.* 14,688 200,050 J2 Global, Inc.* 2,839 353,541 EQT Corp.* 18,642 389,245 Manhattan Associates, Inc.* 4,265 579,955 Equitrans Midstream Corp. 27,269 224,696 Paylocity Holding Corp.* 2,508 425,934 Murphy Oil Corp. 9,652 209,352 Qualys, Inc.* 2,254 217,917 World Fuel Services Corp. 4,220 129,681 Sailpoint Technologies Holdings, 1,802,318 Inc.* 6,112 284,391

See accompanying notes to the financial statements.

Ultra MidCap400 Schedule of Portfolio Investments May 31, 2021

Investments Shares Value ($) Principal Teradata Corp.* 7,287 348,829 Investments Amount ($) Value ($) 5,793,353 Specialty Retail - 2.6% SHORT-TERM INVESTMENTS - 1.3% American Eagle Outfitters, Inc.(b) 9,999 354,265 AutoNation, Inc.* 3,683 376,145 REPURCHASE AGREEMENTS(d) - 1.3% Dick's Sporting Goods, Inc. 4,394 428,547 Repurchase Agreements with various Five Below, Inc.* 3,735 687,688 counterparties, rates 0.00% - Foot Locker, Inc. 6,967 440,941 0.01%, dated 5/28/2021, due Lithia Motors, Inc., Class A(b) 1,987 699,404 6/1/2021, total to be received Murphy USA, Inc. 1,694 228,368 $2,443,726 RH* 1,091 699,386 (Cost $2,443,724) 2,443,724 2,443,724 Urban Outfitters, Inc.* 4,576 179,196 Williams-Sonoma, Inc. 5,120 868,045 4,961,985 Technology Hardware, Storage & Peripherals - 0.4% NCR Corp.* 8,698 419,244 Total Investments - 85.0% Xerox Holdings Corp. 11,156 261,608 (Cost $134,473,121) 160,863,509 680,852 Other assets less liabilities - 15.0% 28,298,678 Textiles, Apparel & Luxury Goods - 1.1% Net Assets - 100.0% 189,162,187

Capri Holdings Ltd.* 10,098 572,658 Carter's, Inc. 2,945 301,097 Columbia Sportswear Co. 2,042 209,775 Deckers Outdoor Corp.* 1,883 631,633 Skechers USA, Inc., Class A* 9,135 433,912 2,149,075 Thrifts & Mortgage Finance - 0.6% Essent Group Ltd. 7,544 360,905 MGIC Investment Corp. 22,635 333,187 New York Community Bancorp, Inc. 31,134 372,674 Washington Federal, Inc. 4,959 165,333 1,232,099 Trading Companies & Distributors - 0.8% GATX Corp. 2,347 231,555 MSC Industrial Direct Co., Inc., Class A 3,123 294,811 Univar Solutions, Inc.* 11,324 306,767 Watsco, Inc. 2,197 640,206 1,473,339 Water Utilities - 0.4% Essential Utilities, Inc. 14,929 713,606

Wireless Telecommunication Services - 0.1% Telephone and Data Systems, Inc. 6,658 171,244

TOTAL COMMON STOCKS (COST $131,512,220) 157,902,608

SECURITIES LENDING REINVESTMENTS(c) - 0.3%

INVESTMENT COMPANIES - 0.3% BlackRock Liquidity FedFund, Institutional Class 0.03% (Cost $517,177) 517,177 517,177

See accompanying notes to the financial statements.

Ultra MidCap400 Schedule of Portfolio Investments May 31, 2021

* Non-income producing security. (a) All or a portion of these securities are segregated in connection with obligations for swaps with a total value of $29,502,578. (b) The security or a portion of this security is on loan at May 31, 2021. The total value of securities on loan at May 31, 2021 was $2,991,177, collateralized in the form of cash with a value of $517,177 that was reinvested in the securities shown in the Securities Lending Reinvestment section of the Schedule of Investments and $2,601,496 of collateral in the form of U.S. Government Treasury Securities, interest rates ranging from 0.00% – 6.88%, and maturity dates ranging from June 30, 2021 – November 15, 2050. The total value of collateral is $3,118,673. (c) The security was purchased with cash collateral held from securities on loan at May 31, 2021. The total value of securities purchased was $517,177. (d) The Fund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" in the Notes to Financial Statements to view the details of each individual agreement and counterparty as well as a description of the securities subject to repurchase.

As of May 31, 2021, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investment securities and derivative instruments, if applicable, for federal income tax purposes was as follows:

Aggregate gross unrealized appreciation $ 58,091,439

Aggregate gross unrealized depreciation (3,393,336)

Net unrealized appreciation $ 54,698,103

Federal income tax cost $ 134,830,569

See accompanying notes to the financial statements.

Ultra MidCap400 Schedule of Portfolio Investments May 31, 2021

Futures Contracts Purchased Ultra MidCap400 had the following open long futures contracts as of May 31, 2021: Value and Number of Expiration Trading Unrealized Contracts Date Currency Notional Amount Appreciation S&P Midcap 400 E-Mini Index 35 6/18/2021 USD $ 9,543,450 $ 435,249

Swap Agreementsa Ultra MidCap400 had the following open non-exchange traded total return swap agreements as of May 31, 2021:

Financial Cash Instruments Collateral for for the Benefit the Benefit of Value and of (the Fund)/ (the Fund)/ Unrealized the the Notional Termination Rate Paid Appreciationd Counterparty Counterparty Net Amount ($) Dateb Counterparty (Received)c Underlying Instrument ($) ($) ($) Amounte ($) Bank of 25,602,479 12/6/2021 America NA 0.50% S&P MidCap 400® 7,126,871 (7,126,871) — —

BNP Paribas 22,997,774 11/8/2021 SA 0.50% S&P MidCap 400® 5,871,371 (5,871,371) — —

28,758,127 12/6/2021 Citibank NA 0.46% S&P MidCap 400® 3,848,125 — (3,830,000) 18,125

Goldman Sachs 27,855,345 11/7/2022 International 0.51% S&P MidCap 400® 858,866

Goldman Sachs SPDR® S&P MidCap 33,795,014 11/7/2022 International 0.26% 400® ETF Trust 806,241

61,650,359 1,665,107 (1,665,107) — —

Morgan Stanley & Co. International 3,439,302 11/7/2022 plc (0.07)% S&P MidCap 400® 190,003 (135,000) — 55,003

Societe 40,715,224 11/7/2022 Generale 0.32% S&P MidCap 400® 3,618,836 (3,618,836) — —

27,871,709 12/6/2021 UBS AG 0.45% S&P MidCap 400® 5,909,601 — (5,892,000) 17,601

211,034,974 28,229,914

Total Unrealized Appreciation 28,229,914

Abbreviations

USD U.S. Dollar

See accompanying notes to the financial statements.

Ultra Nasdaq Biotechnology Schedule of Portfolio Investments May 31, 2021

Investments Shares Value ($) Investments Shares Value ($) Calithera Biosciences, Inc.* 15,183 34,617 COMMON STOCKS(a) - 89.1% Cellectis SA, ADR* 4,145 64,952 ChemoCentryx, Inc.* 14,902 151,255 Biotechnology - 72.3% Chinook Therapeutics, Inc.* 9,076 149,754 AC Immune SA*(b) 15,443 94,048 Clovis Oncology, Inc.*(b) 22,507 115,461 ACADIA Pharmaceuticals, Inc.* 34,454 769,702 Coherus Biosciences, Inc.*(b) 15,667 206,178 Acceleron Pharma, Inc.* 13,051 1,708,245 Concert Pharmaceuticals, Inc.* 6,926 27,843 Adaptimmune Therapeutics plc, Constellation Pharmaceuticals, ADR* 29,303 147,394 Inc.* 10,304 204,122 Adicet Bio, Inc.* 6,454 86,613 Cortexyme, Inc.*(b) 6,347 262,575 Adverum Biotechnologies, Inc.* 20,989 72,622 Crinetics Pharmaceuticals, Inc.*(b) 8,115 142,418 Aeglea BioTherapeutics, Inc.* 10,317 68,195 CRISPR Therapeutics AG* 16,238 1,919,007 Affimed NV* 24,698 219,071 Cytokinetics, Inc.* 15,303 334,065 Agios Pharmaceuticals, Inc.*(b) 13,254 739,308 CytomX Therapeutics, Inc.* 13,944 99,839 Akebia Therapeutics, Inc.*(b) 33,052 116,013 Deciphera Pharmaceuticals, Inc.* 12,411 418,747 Akero Therapeutics, Inc.*(b) 7,476 195,722 Denali Therapeutics, Inc.* 26,049 1,656,456 Akouos, Inc.*(b) 7,403 96,683 Dicerna Pharmaceuticals, Inc.* 16,429 535,585 Alector, Inc.* 17,132 304,950 Eagle Pharmaceuticals, Inc.* 2,805 111,134 Alexion Pharmaceuticals, Inc.* 47,324 8,355,052 Editas Medicine, Inc.*(b) 14,498 492,207 Alkermes plc* 34,278 777,082 Eiger BioPharmaceuticals, Inc.* 7,007 55,075 Allakos, Inc.* 11,307 1,146,982 Enanta Pharmaceuticals, Inc.* 4,341 211,233 Allogene Therapeutics, Inc.* 30,276 778,093 Epizyme, Inc.*(b) 21,908 180,303 Allovir, Inc.* 14,011 328,418 Esperion Therapeutics, Inc.*(b) 6,019 119,838 Alnylam Pharmaceuticals, Inc.* 25,189 3,576,586 Exelixis, Inc.* 67,161 1,514,481 Altimmune, Inc.* 7,996 101,149 Fate Therapeutics, Inc.* 20,193 1,546,784 ALX Oncology Holdings, Inc.* 8,581 485,341 FibroGen, Inc.*(b) 19,593 416,351 Amarin Corp. plc, ADR*(b) 83,573 379,421 Flexion Therapeutics, Inc.* 10,616 88,856 Amgen, Inc. 94,866 22,572,416 Forma Therapeutics Holdings, Inc.* 9,632 270,370 Amicus Therapeutics, Inc.* 56,094 519,430 Frequency Therapeutics, Inc.* 7,261 64,260 AnaptysBio, Inc.* 5,895 140,714 Fusion Pharmaceuticals, Inc.*(b) 8,984 73,759 Annexon, Inc.* 8,216 173,522 G1 Therapeutics, Inc.*(b) 9,027 196,066 Apellis Pharmaceuticals, Inc.* 17,298 973,531 Galapagos NV, ADR* 1,144 87,104 Applied Molecular Transport, Gamida Cell Ltd.* 12,741 82,689 Inc.*(b) 7,507 359,886 Generation Bio Co.* 11,738 402,144 Applied Therapeutics, Inc.* 5,484 105,457 Genmab A/S, ADR* 10,327 419,483 Aprea Therapeutics, Inc.* 4,559 19,239 Geron Corp.* 66,838 92,236 Arbutus Biopharma Corp.* 20,578 58,236 Gilead Sciences, Inc. 270,512 17,883,548 Arcturus Therapeutics Holdings, Global Blood Therapeutics, Inc.* 13,381 514,232 Inc.* 5,568 162,697 Gossamer Bio, Inc.*(b) 16,262 137,739 Arcutis Biotherapeutics, Inc.* 10,778 284,000 Grifols SA, ADR 25,612 447,954 Ardelyx, Inc.* 19,431 138,932 Halozyme Therapeutics, Inc.*(b) 29,117 1,205,735 Arena Pharmaceuticals, Inc.* 12,986 793,581 Harpoon Therapeutics, Inc.* 6,920 142,690 Argenx SE, ADR* 5,292 1,476,415 Homology Medicines, Inc.* 12,274 81,499 Arrowhead Pharmaceuticals, Inc.* 22,340 1,621,884 Horizon Therapeutics plc* 48,233 4,421,037 Ascendis Pharma A/S, ADR* 11,232 1,509,356 Ideaya Biosciences, Inc.*(b) 6,947 139,982 Assembly Biosciences, Inc.* 8,228 32,665 IGM Biosciences, Inc.* 5,482 409,231 Atara Biotherapeutics, Inc.* 17,832 241,802 I-Mab, ADR*(b) 4,006 324,766 Athenex, Inc.* 20,092 94,231 Immunic, Inc.*(b) 4,556 61,552 Atreca, Inc., Class A*(b) 6,476 58,414 ImmunityBio, Inc.*(b) 82,189 1,442,417 Aurinia Pharmaceuticals, Inc.*(b) 27,438 398,400 ImmunoGen, Inc.* 41,945 259,220 Autolus Therapeutics plc, ADR*(b) 7,325 48,565 Immunovant, Inc.*(b) 21,086 319,664 Avidity Biosciences, Inc.*(b) 8,082 191,867 Incyte Corp.* 47,323 3,964,721 Avrobio, Inc.* 8,931 80,290 Inovio Pharmaceuticals, Inc.*(b) 44,524 336,156 Beam Therapeutics, Inc.*(b) 12,481 976,389 Inozyme Pharma, Inc.*(b) 5,035 82,373 BeiGene Ltd., ADR* 10,633 3,812,037 Insmed, Inc.* 24,429 600,953 BioCryst Pharmaceuticals, Inc.* 38,005 599,339 Intellia Therapeutics, Inc.* 14,579 1,092,550 Biogen, Inc.* 32,800 8,773,344 Intercept Pharmaceuticals, Inc.*(b) 7,108 118,206 BioMarin Pharmaceutical, Inc.* 39,148 3,026,140 Ionis Pharmaceuticals, Inc.* 30,325 1,129,606 BioNTech SE, ADR* 16,208 3,306,432 Iovance Biotherapeutics, Inc.* 31,645 587,648 Black Diamond Therapeutics, Inc.* 7,775 102,008 Ironwood Pharmaceuticals, Inc.* 34,648 400,877 Bluebird Bio, Inc.* 14,448 449,622 iTeos Therapeutics, Inc.* 7,544 154,954 Blueprint Medicines Corp.* 12,480 1,140,048 IVERIC bio, Inc.*(b) 19,284 136,338 Bridgebio Pharma, Inc.*(b) 32,072 1,898,662 Jounce Therapeutics, Inc.* 11,065 86,860 Cabaletta Bio, Inc.* 5,176 58,696 Kadmon Holdings, Inc.*(b) 36,921 141,777

See accompanying notes to the financial statements.

Ultra Nasdaq Biotechnology Schedule of Portfolio Investments May 31, 2021

Investments Shares Value ($) Investments Shares Value ($) KalVista Pharmaceuticals, Inc.* 5,019 135,513 Stoke Therapeutics, Inc.* 7,797 309,229 Kamada Ltd.*(b) 9,631 56,534 Summit Therapeutics, Inc.*(b) 20,933 163,696 Karuna Therapeutics, Inc.* 5,824 651,240 Surface Oncology, Inc.* 8,759 79,181 Karyopharm Therapeutics, Inc.*(b) 16,065 149,083 Sutro Biopharma, Inc.* 9,687 180,275 Keros Therapeutics, Inc.* 4,988 272,145 Syndax Pharmaceuticals, Inc.* 10,156 186,566 Kezar Life Sciences, Inc.* 9,962 56,983 Syros Pharmaceuticals, Inc.* 13,264 85,553 Kiniksa Pharmaceuticals Ltd., Class TCR2 Therapeutics, Inc.* 8,181 156,666 A* 6,877 93,734 Translate Bio, Inc.*(b) 16,029 288,682 Kodiak Sciences, Inc.* 10,922 913,298 Travere Therapeutics, Inc.* 12,399 188,093 Krystal Biotech, Inc.* 4,716 307,672 Turning Point Therapeutics, Inc.* 10,371 686,353 Kura Oncology, Inc.* 14,251 317,085 Twist Bioscience Corp.* 10,468 1,123,321 Larimar Therapeutics, Inc.* 3,303 27,448 Ultragenyx Pharmaceutical, Inc.* 14,415 1,466,150 Legend Biotech Corp., ADR* 5,155 202,952 uniQure NV* 9,577 332,609 Ligand Pharmaceuticals, Inc.* 3,582 421,601 United Therapeutics Corp.* 9,584 1,781,666 MacroGenics, Inc.* 12,114 389,950 UNITY Biotechnology, Inc.*(b) 11,389 51,023 Madrigal Pharmaceuticals, Inc.*(b) 3,448 387,210 UroGen Pharma Ltd.*(b) 4,758 83,836 Magenta Therapeutics, Inc.* 10,398 128,415 Vanda Pharmaceuticals, Inc.* 11,814 208,990 MannKind Corp.*(b) 53,210 235,188 Vaxcyte, Inc.*(b) 10,964 231,011 MediciNova, Inc.*(b) 10,482 44,234 Veracyte, Inc.* 14,425 563,296 MeiraGTx Holdings plc* 9,340 128,799 Verastem, Inc.*(b) 36,548 141,441 Mersana Therapeutics, Inc.* 14,862 212,824 Vertex Pharmaceuticals, Inc.* 55,960 11,674,935 Mirati Therapeutics, Inc.* 10,898 1,723,519 Vir Biotechnology, Inc.* 27,522 1,153,447 Moderna, Inc.* 86,093 15,928,066 Voyager Therapeutics, Inc.*(b) 8,103 34,519 Myriad Genetics, Inc.* 16,188 463,786 XBiotech, Inc.*(b) 6,292 108,537 Neoleukin Therapeutics, Inc.* 9,023 90,501 Xencor, Inc.* 12,478 479,904 Neurocrine Biosciences, Inc.* 20,221 1,945,665 Xenon Pharmaceuticals, Inc.* 8,817 162,850 NextCure, Inc.* 5,924 46,503 Y-mAbs Therapeutics, Inc.*(b) 9,364 335,512 Nkarta, Inc.* 7,016 170,840 Zai Lab Ltd., ADR* 12,868 2,286,129 Novavax, Inc.*(b) 15,902 2,347,453 Zentalis Pharmaceuticals, Inc.* 8,749 488,632 Nurix Therapeutics, Inc.*(b) 9,539 266,138 ZIOPHARM Oncology, Inc.*(b) 46,133 140,244 OPKO Health, Inc.*(b) 144,240 550,997 207,649,535 Orchard Therapeutics plc, ADR* 13,196 69,015 Health Care Providers & Services - 1.1% ORIC Pharmaceuticals, Inc.* 7,889 180,264 Castle Biosciences, Inc.* 5,263 315,412 Ovid therapeutics, Inc.* 13,655 56,668 Guardant Health, Inc.* 21,621 2,683,599 Passage Bio, Inc.* 11,389 150,904 PetIQ, Inc.*(b) 6,085 250,093 Poseida Therapeutics, Inc.*(b) 13,311 112,478 3,249,104 Precigen, Inc.*(b) 43,642 288,037 Life Sciences Tools & Services - 7.7% Precision BioSciences, Inc.* 11,303 119,021 Adaptive Biotechnologies Corp.* 29,969 1,133,128 Protagonist Therapeutics, Inc.* 9,261 325,154 Codexis, Inc.*(b) 13,686 280,563 Prothena Corp. plc* 9,510 277,407 Compugen Ltd.*(b) 18,016 138,363 PTC Therapeutics, Inc.* 15,144 594,705 Illumina, Inc.* 31,408 12,740,341 Puma Biotechnology, Inc.* 8,566 90,371 Luminex Corp. 10,051 370,781 Radius Health, Inc.* 10,093 194,694 Medpace Holdings, Inc.* 7,691 1,284,858 RAPT Therapeutics, Inc.*(b) 5,287 102,039 NanoString Technologies, Inc.* 9,491 526,656 Regeneron Pharmaceuticals, Inc.* 22,666 11,388,078 Pacific Biosciences of California, REGENXBIO, Inc.* 9,115 321,486 Inc.* 41,574 1,124,577 Relay Therapeutics, Inc.* 19,374 622,293 Personalis, Inc.* 9,401 211,429 Repare Therapeutics, Inc.* 7,914 255,780 PRA Health Sciences, Inc.* 13,896 2,375,104 Replimune Group, Inc.* 10,007 389,973 Syneos Health, Inc.* 22,454 1,973,707 REVOLUTION Medicines, Inc.* 15,538 464,742 22,159,507 Rhythm Pharmaceuticals, Inc.* 10,593 207,729 Pharmaceuticals - 8.0% Rigel Pharmaceuticals, Inc.* 36,374 135,311 Aerie Pharmaceuticals, Inc.* 10,097 164,480 Rocket Pharmaceuticals, Inc.*(b) 13,040 554,200 Amphastar Pharmaceuticals, Inc.* 10,222 193,400 Rubius Therapeutics, Inc.* 19,226 469,691 ANI Pharmaceuticals, Inc.*(b) 2,662 91,440 Sage Therapeutics, Inc.* 12,562 874,315 Arvinas, Inc.* 10,239 744,785 Sangamo Therapeutics, Inc.*(b) 30,836 332,412 AstraZeneca plc, ADR(b) 98,747 5,605,867 Sarepta Therapeutics, Inc.*(b) 16,985 1,284,915 Avadel Pharmaceuticals plc, Scholar Rock Holding Corp.* 7,240 194,539 ADR*(b) 12,553 96,533 Seagen, Inc.* 39,000 6,058,650 Axsome Therapeutics, Inc.* 8,038 487,987 Selecta Biosciences, Inc.* 23,255 100,927 BioDelivery Sciences International, Seres Therapeutics, Inc.* 19,648 414,769 Inc.* 21,773 76,859 Spectrum Pharmaceuticals, Inc.* 34,768 119,950 Cara Therapeutics, Inc.*(b) 10,738 145,929 Spero Therapeutics, Inc.* 5,850 84,825 Chiasma, Inc.*(b) 12,439 52,617 SpringWorks Therapeutics, Inc.* 10,547 860,002

See accompanying notes to the financial statements.

Ultra Nasdaq Biotechnology Schedule of Portfolio Investments May 31, 2021

Investments Shares Value ($) Investments Shares Value ($) Collegium Pharmaceutical, Inc.* 7,483 178,769 Cymabay Therapeutics, Inc.* 14,836 62,756 SECURITIES LENDING REINVESTMENTS(f) - 3.1% Endo International plc* 49,619 291,264 Fulcrum Therapeutics, Inc.* 6,899 61,608 INVESTMENT COMPANIES - 3.1% Hutchmed China Ltd., ADR* 11,188 332,843 BlackRock Liquidity FedFund, Institutional Class Innoviva, Inc.* 21,822 293,506 0.03% (Cost $8,800,250) 8,800,250 8,800,250 Intra-Cellular Therapies, Inc.* 17,417 686,404 Jazz Pharmaceuticals plc* 12,124 2,159,648 Kala Pharmaceuticals, Inc.*(b) 13,254 74,885 Principal Kaleido Biosciences, Inc.*(b) 8,880 63,758 Investments Amount ($) Value ($) Marinus Pharmaceuticals, Inc.*(b) 7,672 129,043 Nektar Therapeutics* 39,220 708,705 SHORT-TERM INVESTMENTS - 3.5% NGM Biopharmaceuticals, Inc.* 15,851 238,716 Ocular Therapeutix, Inc.* 16,211 236,032 REPURCHASE AGREEMENTS(g) - 3.5% Odonate Therapeutics, Inc.*(b) 8,307 28,742 Repurchase Agreements with various Omeros Corp.*(b) 13,270 201,571 counterparties, rates 0.00% - Osmotica Pharmaceuticals plc*(b) 13,472 39,204 0.01%, dated 5/28/2021, due Pacira BioSciences, Inc.* 9,353 567,447 6/1/2021, total to be received Paratek Pharmaceuticals, Inc.* 9,824 80,753 $10,081,257 Phibro Animal Health Corp., Class (Cost $10,081,256) 10,081,256 10,081,256 A 4,368 123,134 Pliant Therapeutics, Inc.*(b) 7,634 229,478 Provention Bio, Inc.*(b) 13,640 103,800 Reata Pharmaceuticals, Inc., Class A*(b) 6,693 915,201 Total Investments - 95.7% Redhill Biopharma Ltd., ADR*(b) 8,264 59,914 (Cost $295,955,275) 274,971,778 Relmada Therapeutics, Inc.* 3,491 120,754 Other assets less liabilities - 4.3% 12,416,516 Revance Therapeutics, Inc.* 15,362 454,869 Net Assets - 100.0% 287,388,294 Royalty Pharma plc, Class A 83,552 3,352,106 Sanofi, ADR 43,969 2,349,264 SIGA Technologies, Inc.* 16,664 117,481 Supernus Pharmaceuticals, Inc.*(b) 11,338 338,439 TherapeuticsMD, Inc.*(b) 83,488 101,021 Theravance Biopharma, Inc.*(b) 13,844 239,224 Tricida, Inc.* 10,819 49,876 VYNE Therapeutics, Inc.*(b) 11,048 43,640 WaVe Life Sciences Ltd.* 10,498 71,806 Xeris Pharmaceuticals, Inc.*(b) 14,275 44,538 Zogenix, Inc.* 11,988 210,389 23,020,485 TOTAL COMMON STOCKS (COST $277,062,128) 256,078,631

Number of Investments Rights Value ($)

RIGHTS - 0.0%(c)

Biotechnology - 0.0%(c) Achillion Pharmaceuticals, Inc., CVR*(d)(e) 25,307 11,641 Diversified Financial Services - 0.0% Contra Costa County Board of Education, CVR*(b)(d)(e) 835 — TOTAL RIGHTS (Cost $11,641) 11,641

See accompanying notes to the financial statements.

Ultra Nasdaq Biotechnology Schedule of Portfolio Investments May 31, 2021

* Non-income producing security. (a) All or a portion of these securities are segregated in connection with obligations for swaps with a total value of $56,362,144. (b) The security or a portion of this security is on loan at May 31, 2021. The total value of securities on loan at May 31, 2021 was $16,179,702, collateralized in the form of cash with a value of $8,800,250 that was reinvested in the securities shown in the Securities Lending Reinvestment section of the Schedule of Investments and $8,032,026 of collateral in the form of U.S. Government Treasury Securities, interest rates ranging from 0.00% – 6.88%, and maturity dates ranging from June 24, 2021 – November 15, 2050. The total value of collateral is $16,832,276. (c) Represents less than 0.05% of net assets. (d) Security fair valued as of May 31, 2021 in accordance with procedures approved by the Board of Trustees. Total value of all such securities at May 31, 2021 amounted to $11,641, which represents approximately 0.00% of net assets of the Fund. (e) Illiquid security. (f) The security was purchased with cash collateral held from securities on loan at May 31, 2021. The total value of securities purchased was $8,800,250. (g) The Fund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" in the Notes to Financial Statements to view the details of each individual agreement and counterparty as well as a description of the securities subject to repurchase.

Abbreviations ADR American Depositary Receipt CVR Contingent Value Rights - No defined expiration

Aggregate gross unrealized appreciation $ 26,226,334

Aggregate gross unrealized depreciation (38,859,291)

Net unrealized depreciation $ (12,632,957)

Federal income tax cost $ 299,359,381

See accompanying notes to the financial statements.

Ultra Nasdaq Biotechnology Schedule of Portfolio Investments May 31, 2021

Swap Agreementsa Ultra Nasdaq Biotechnology had the following open non-exchange traded total return swap agreements as of May 31, 2021:

Financial Cash Instruments Collateral for Value and for the the Benefit of Unrealized Benefit of (the (the Fund)/ Appreciation/ Fund)/ the the Notional Termination Rate Paid (Depreciation)d Counterparty Counterparty Net Amount ($) Dateb Counterparty (Received)c Underlying Instrument ($) ($) ($) Amounte ($) Bank of iShares® Nasdaq 6,114,877 12/6/2021 America NA 0.10% Biotechnology ETF 2,217,638

Bank of NASDAQ 35,655,440 1/6/2022 America NA 0.20% Biotechnology Index® 395,369

41,770,317 2,613,007 (2,356,015) — 256,992

NASDAQ 27,509,030 12/6/2021 Citibank NA 0.21% Biotechnology Index® 1,742,502 — (1,520,000) 222,502

Goldman Sachs iShares® Nasdaq 25,147,807 1/6/2022 International 0.09% Biotechnology ETF (34,109)

Goldman Sachs NASDAQ 38,057,892 1/6/2022 International 0.56% Biotechnology Index® 687,372

63,205,699 653,263 (333,245) — 320,018

Morgan Stanley & Co. International iShares® Nasdaq 6,444,063 11/7/2022 plc 0.05% Biotechnology ETF 200,494

Morgan Stanley & Co. International NASDAQ 10,148,453 11/7/2022 plc 0.45% Biotechnology Index® (60,812)

16,592,516 139,682 — — 139,682

Societe NASDAQ 60,499,845 11/7/2022 Generale 0.40% Biotechnology Index® (973,092) 973,092 — —

NASDAQ 109,111,365 11/8/2021 UBS AG 0.10% Biotechnology Index® 7,579,284 — (7,139,000) 440,284

318,688,772 11,754,646

Total Unrealized Appreciation 12,822,659

Total Unrealized Depreciation (1,068,013)

See accompanying notes to the financial statements.

Ultra Russell2000 Schedule of Portfolio Investments May 31, 2021

Investments Shares Value ($) Investments Shares Value ($) Banks - 6.8% COMMON STOCKS(a) - 77.0% 1st Constitution Bancorp 1,807 38,128 1st Source Corp. 3,272 161,866 Aerospace & Defense - 0.6% ACNB Corp. 1,690 48,672 AAR Corp.* 6,690 279,308 Allegiance Bancshares, Inc. 3,777 153,195 Aerojet Rocketdyne Holdings, Inc. 14,423 698,794 Altabancorp 3,171 145,866 AeroVironment, Inc.* 4,321 473,711 Amalgamated Financial Corp. 2,641 42,969 Astronics Corp.* 4,737 80,340 Amerant Bancorp, Inc.* 4,527 109,191 Ducommun, Inc.* 2,148 115,498 American National Bankshares, Kaman Corp. 5,514 296,763 Inc. 2,129 73,834 Kratos Defense & Security Ameris Bancorp 13,246 727,735 Solutions, Inc.* 24,243 606,317 Ames National Corp. 1,752 44,326 Maxar Technologies, Inc. 14,217 442,149 Arrow Financial Corp. 2,643 98,055 Moog, Inc., Class A 5,814 524,423 Atlantic Capital Bancshares, Inc.* 4,038 113,549 National Presto Industries, Inc. 1,020 103,448 Atlantic Union Bankshares Corp. 15,564 638,435 PAE, Inc.* 11,793 95,759 Auburn National Bancorp, Inc.(c) 462 17,648 Park Aerospace Corp. 3,928 60,570 Banc of California, Inc. 8,916 156,119 Parsons Corp.* 4,506 178,483 BancFirst Corp. 3,747 258,431 Triumph Group, Inc.* 10,287 197,716 Bancorp, Inc. (The)* 10,291 249,454 Vectrus, Inc.* 2,288 116,734 BancorpSouth Bank 19,778 604,811 4,270,013 Bank First Corp.(c) 1,252 89,167 Air Freight & Logistics - 0.3% Bank of Commerce Holdings 3,174 46,816 Air Transport Services Group, Inc.* 11,745 291,746 Bank of Marin Bancorp 2,641 89,028 Atlas Air Worldwide Holdings, Bank of NT Butterfield & Son Ltd. Inc.* 5,138 384,990 (The) 10,003 381,514 Echo Global Logistics, Inc.* 5,232 178,725 Bank of Princeton (The) 1,138 33,491 Forward Air Corp. 5,462 529,213 Bank7 Corp. 550 10,026 Hub Group, Inc., Class A* 6,542 456,697 BankFinancial Corp. 2,640 29,172 Radiant Logistics, Inc.* 7,811 60,067 BankUnited, Inc. 18,333 876,134 1,901,438 Bankwell Financial Group, Inc. 1,326 37,871 Airlines - 0.3% Banner Corp. 6,939 406,140 Allegiant Travel Co.* 2,612 578,454 Bar Harbor Bankshares 2,950 89,798 Hawaiian Holdings, Inc.* 9,580 247,164 BayCom Corp.* 2,149 39,799 Mesa Air Group, Inc.* 6,822 66,310 BCB Bancorp, Inc. 2,868 41,901 SkyWest, Inc.* 9,848 482,847 Berkshire Hills Bancorp, Inc. 9,041 250,888 Spirit Airlines, Inc.* 19,607 700,166 Boston Private Financial Holdings, 2,074,941 Inc. 16,360 250,799 Auto Components - 1.2% Brookline Bancorp, Inc. 15,485 261,077 Adient plc* 18,857 943,982 Bryn Mawr Bank Corp. 3,935 188,093 American Axle & Manufacturing Business First Bancshares, Inc. 3,852 93,989 Holdings, Inc.* 22,447 251,406 Byline Bancorp, Inc. 4,846 111,846 C&F Financial Corp. 692 34,240 Cooper Tire & Rubber Co. 10,068 597,838 Cooper-Standard Holdings, Inc.* 3,342 99,458 Cadence Bancorp 24,625 551,107 California Bancorp* 1,513 28,611 Dana, Inc. 28,895 783,921 Dorman Products, Inc.* 5,316 544,252 Cambridge Bancorp 1,269 108,817 Fox Factory Holding Corp.* 8,261 1,284,420 Camden National Corp. 2,947 140,336 Gentherm, Inc.* 6,542 474,491 Capital Bancorp, Inc.*(c) 1,586 34,876 Goodyear Tire & Rubber Co. Capital City Bank Group, Inc. 2,677 71,744 (The)* 46,167 915,492 Capstar Financial Holdings, Inc. 3,190 69,829 LCI Industries 4,920 733,326 Carter Bankshares, Inc.* 4,525 70,454 Cathay General Bancorp 15,165 632,077 Modine Manufacturing Co.* 10,007 176,023 Motorcar Parts of America, Inc.* 3,750 87,638 CB Financial Services, Inc. 984 21,402 CBTX, Inc. 3,480 103,008 Patrick Industries, Inc. 4,457 381,965 Standard Motor Products, Inc. 4,214 189,714 Central Pacific Financial Corp. 5,481 151,879 Stoneridge, Inc.* 5,191 158,014 Central Valley Community Tenneco, Inc., Class A* 10,186 159,717 Bancorp 2,113 44,944 Visteon Corp.* 5,535 677,816 Century Bancorp, Inc., Class A 556 63,440 XPEL, Inc.*(b) 3,330 273,060 Chemung Financial Corp. 692 32,247 ChoiceOne Financial Services, Inc. 1,460 37,595 8,732,533 CIT Group, Inc. 19,703 1,043,865 Automobiles - 0.1% Citizens & Northern Corp. 2,663 65,749 Winnebago Industries, Inc. 6,220 460,031 Citizens Holding Co.(c) 939 17,747 Workhorse Group, Inc.*(c) 18,825 176,390 City Holding Co. 3,076 246,757 636,421 Civista Bancshares, Inc. 3,127 74,235

See accompanying notes to the financial statements.

Ultra Russell2000 Schedule of Portfolio Investments May 31, 2021

Investments Shares Value ($) Investments Shares Value ($) CNB Financial Corp. 2,951 71,739 German American Bancorp, Inc. 4,922 205,740 Coastal Financial Corp.* 1,815 56,446 Glacier Bancorp, Inc. 19,129 1,114,264 Codorus Valley Bancorp, Inc. 1,867 35,398 Great Southern Bancorp, Inc. 2,159 121,962 Colony Bankcorp, Inc. 1,540 28,274 Great Western Bancorp, Inc. 11,046 369,599 Columbia Banking System, Inc. 14,341 618,958 Guaranty Bancshares, Inc. 1,537 58,929 Community Bank System, Inc. 10,564 856,952 Hancock Whitney Corp. 17,223 852,711 Community Bankers Trust Corp. 4,346 38,419 Hanmi Financial Corp. 6,103 128,041 Community Financial Corp. (The) 1,044 37,031 HarborOne Bancorp, Inc. 10,352 153,727 Community Trust Bancorp, Inc. 3,099 136,914 Hawthorn Bancshares, Inc. 1,167 28,183 ConnectOne Bancorp, Inc. 7,405 205,044 HBT Financial, Inc. 1,952 35,507 County Bancorp, Inc.(c) 958 23,854 Heartland Financial USA, Inc. 6,937 345,116 CrossFirst Bankshares, Inc.* 9,574 140,834 Heritage Commerce Corp. 11,611 137,706 Customers Bancorp, Inc.* 5,730 216,880 Heritage Financial Corp. 7,191 208,611 CVB Financial Corp. 25,813 572,532 Hilltop Holdings, Inc. 13,111 487,074 Dime Community Bancshares, Inc. 7,040 244,358 Home BancShares, Inc. 30,552 835,903 Eagle Bancorp Montana, Inc. 1,253 31,338 HomeTrust Bancshares, Inc. 3,060 86,812 Eagle Bancorp, Inc. 6,306 360,325 Hope Bancorp, Inc. 23,445 358,708 Eastern Bankshares, Inc. 33,135 742,224 Horizon Bancorp, Inc. 8,541 158,008 Enterprise Bancorp, Inc. 1,794 61,821 Howard Bancorp, Inc.* 2,632 44,376 Enterprise Financial Services Corp. 4,805 237,415 Independent Bank Corp. 6,566 535,851 Equity Bancshares, Inc., Class A* 2,832 93,060 Independent Bank Corp./MI 4,221 98,349 Esquire Financial Holdings, Inc.* 1,365 33,620 Independent Bank Group, Inc. 8,466 666,697 Evans Bancorp, Inc. 948 35,853 International Bancshares Corp. 10,658 494,531 Farmers & Merchants Bancorp, Investar Holding Corp. 1,972 44,528 Inc.(c) 2,021 44,462 Investors Bancorp, Inc. 46,058 685,343 Farmers National Banc Corp. 5,183 90,184 Lakeland Bancorp, Inc. 9,734 185,043 FB Financial Corp. 6,311 264,115 Lakeland Financial Corp. 4,846 299,047 Fidelity D&D Bancorp, Inc.(c) 786 43,804 Landmark Bancorp, Inc.(c) 790 20,453 Financial Institutions, Inc. 3,159 101,499 LCNB Corp. 2,434 42,936 First Bancorp, Inc. (The) 2,023 63,725 Level One Bancorp, Inc. 1,010 27,987 First Bancorp/NC 5,648 250,602 Limestone Bancorp, Inc.* 1,045 16,626 First Bancorp/PR 42,985 549,778 Live Oak Bancshares, Inc. 5,658 342,762 First Bancshares, Inc. (The) 4,072 159,012 Macatawa Bank Corp. 5,233 50,237 First Bank 3,198 43,909 Mackinac Financial Corp. 1,785 38,699 First Busey Corp. 10,066 269,668 MainStreet Bancshares, Inc.* 1,246 26,677 First Business Financial Services, Mercantile Bank Corp. 3,157 101,971 Inc. 1,629 44,651 Meridian Corp.(c) 1,072 29,019 First Capital, Inc.(c) 650 28,990 Metrocity Bankshares, Inc.(c) 3,457 59,495 First Choice Bancorp 2,068 66,445 Metropolitan Bank Holding Corp.* 1,399 89,270 First Commonwealth Financial Mid Penn Bancorp, Inc. 1,387 39,113 Corp. 19,085 289,138 Middlefield Banc Corp. 1,192 28,608 First Community Bankshares, Inc. 3,464 107,938 Midland States Bancorp, Inc. 4,218 117,513 First Community Corp. 1,430 28,743 MidWestOne Financial Group, Inc. 2,934 92,538 First Financial Bancorp 19,362 493,150 MVB Financial Corp. 1,853 79,438 First Financial Bankshares, Inc. 25,778 1,297,922 National Bank Holdings Corp., First Financial Corp. 2,654 120,439 Class A 5,875 232,650 First Foundation, Inc. 7,875 197,662 National Bankshares, Inc. 1,275 44,753 First Guaranty Bancshares, Inc. 732 14,428 NBT Bancorp, Inc. 8,492 331,103 First Internet Bancorp 1,887 64,007 Nicolet Bankshares, Inc.* 1,809 143,454 First Interstate BancSystem, Inc., Northeast Bank 1,534 45,038 Class A 8,091 380,843 Northrim Bancorp, Inc. 1,226 53,392 First Merchants Corp. 10,768 498,989 Norwood Financial Corp. 1,160 29,476 First Mid Bancshares, Inc. 2,916 128,012 Oak Valley Bancorp 1,362 25,742 First Midwest Bancorp, Inc. 22,768 476,534 OceanFirst Financial Corp. 11,846 261,915 First Northwest Bancorp 1,736 30,918 OFG Bancorp 10,107 243,579 First of Long Island Corp. (The) 4,547 102,307 Ohio Valley Banc Corp. 854 20,018 First Savings Financial Group, Inc. 370 26,655 Old National Bancorp 32,746 623,811 First United Corp. 1,366 24,834 Old Second Bancorp, Inc. 5,677 78,683 First Western Financial, Inc.* 1,247 34,604 Origin Bancorp, Inc. 4,391 193,863 Flushing Financial Corp. 5,873 137,252 Orrstown Financial Services, Inc. 2,171 54,796 FNCB Bancorp, Inc.(c) 3,417 25,183 Pacific Premier Bancorp, Inc. 15,968 734,049 Franklin Financial Services Corp. 837 25,587 Park National Corp.(c) 2,862 362,100 Fulton Financial Corp. 31,705 549,448 Parke Bancorp, Inc. 2,112 45,408 FVCBankcorp, Inc.*(c) 2,357 41,837 Partners Bancorp(c) 1,970 15,465

See accompanying notes to the financial statements.

Ultra Russell2000 Schedule of Portfolio Investments May 31, 2021

Investments Shares Value ($) Investments Shares Value ($) PCB Bancorp 2,488 39,932 MGP Ingredients, Inc. 2,574 179,382 Peapack-Gladstone Financial Corp. 3,654 121,386 National Beverage Corp. 4,720 235,670 Penns Woods Bancorp, Inc. 1,364 34,932 NewAge, Inc.*(c) 18,913 44,824 Peoples Bancorp of North Carolina, Primo Water Corp. 31,203 540,124 Inc. 890 22,152 1,852,678 Peoples Bancorp, Inc. 3,628 117,837 Biotechnology - 6.8% Peoples Financial Services Corp.(c) 1,369 59,072 4D Molecular Therapeutics, Inc.* 1,554 41,274 Plumas Bancorp(c) 930 28,300 89bio, Inc.*(c) 1,659 31,355 Preferred Bank 2,750 187,798 Abeona Therapeutics, Inc.*(c) 12,065 19,907 Premier Financial Bancorp, Inc. 2,606 48,602 ADMA Biologics, Inc.*(c) 13,167 23,042 Primis Financial Corp. 3,954 58,242 Adverum Biotechnologies, Inc.* 17,777 61,508 Professional Holding Corp., Class Aeglea BioTherapeutics, Inc.* 9,013 59,576 A* 2,267 41,486 Affimed NV* 22,468 199,291 QCR Holdings, Inc. 2,952 141,135 Agenus, Inc.* 31,407 133,794 RBB Bancorp 3,319 80,984 Akebia Therapeutics, Inc.* 28,600 100,386 Red River Bancshares, Inc. 983 53,682 Akero Therapeutics, Inc.*(c) 2,704 70,791 Reliant Bancorp, Inc. 3,069 90,996 Akouos, Inc.*(c) 4,891 63,876 Renasant Corp.(c) 10,877 480,981 Albireo Pharma, Inc.* 3,381 113,094 Republic Bancorp, Inc., Class A 1,940 90,113 Alector, Inc.* 9,244 164,543 Republic First Bancorp, Inc.* 9,080 37,410 Aligos Therapeutics, Inc.* 2,089 58,241 Richmond Mutual Bancorp, Inc. 2,415 35,283 Allakos, Inc.* 5,233 530,836 S&T Bancorp, Inc. 7,717 261,838 Allogene Therapeutics, Inc.* 10,768 276,738 Salisbury Bancorp, Inc.(c) 506 23,534 Allovir, Inc.* 5,913 138,601 Sandy Spring Bancorp, Inc. 9,195 427,200 ALX Oncology Holdings, Inc.* 3,483 196,998 SB Financial Group, Inc. 1,354 26,809 Amicus Therapeutics, Inc.* 51,347 475,473 Seacoast Banking Corp. of Florida* 10,308 382,118 AnaptysBio, Inc.*(c) 4,276 102,068 Select Bancorp, Inc.* 3,068 43,197 Anavex Life Sciences Corp.*(c) 11,662 145,192 ServisFirst Bancshares, Inc. 9,727 675,637 Anika Therapeutics, Inc.* 2,789 130,107 Shore Bancshares, Inc. 2,331 40,070 Annexon, Inc.* 5,326 112,485 Sierra Bancorp 2,823 78,254 Apellis Pharmaceuticals, Inc.* 11,991 674,853 Silvergate Capital Corp., Class A* 3,885 432,789 Applied Genetic Technologies Simmons First National Corp., Corp.* 8,558 34,318 Class A 21,614 659,227 Applied Molecular Transport, Inc.* 4,432 212,470 SmartFinancial, Inc. 2,798 67,851 Applied Therapeutics, Inc.* 3,092 59,459 South Plains Financial, Inc. 2,119 49,712 Aprea Therapeutics, Inc.* 1,441 6,081 South State Corp. 13,975 1,241,120 Aptinyx, Inc.*(c) 6,814 17,308 Southern First Bancshares, Inc.* 1,447 77,313 Aravive, Inc.*(c) 2,434 12,486 Southside Bancshares, Inc. 6,314 270,492 Arcturus Therapeutics Holdings, Spirit of Texas Bancshares, Inc. 2,574 59,408 Inc.* 4,022 117,523 Stock Yards Bancorp, Inc. 4,082 219,367 Arcus Biosciences, Inc.* 8,419 208,960 Summit Financial Group, Inc. 2,267 54,023 Arcutis Biotherapeutics, Inc.* 4,617 121,658 Texas Capital Bancshares, Inc.* 10,097 695,481 Ardelyx, Inc.* 14,782 105,691 Tompkins Financial Corp. 2,858 231,927 Arena Pharmaceuticals, Inc.* 11,609 709,426 Towne Bank 13,367 428,145 Arrowhead Pharmaceuticals, Inc.* 20,443 1,484,162 TriCo Bancshares 5,279 253,128 Assembly Biosciences, Inc.* 6,130 24,336 TriState Capital Holdings, Inc.* 5,509 126,652 Atara Biotherapeutics, Inc.* 16,009 217,082 Triumph Bancorp, Inc.* 4,531 379,471 Athenex, Inc.* 14,155 66,387 Trustmark Corp. 12,583 422,160 Athersys, Inc.*(c) 34,637 57,844 UMB Financial Corp. 8,711 842,441 Atreca, Inc., Class A*(c) 5,751 51,874 United Bankshares, Inc. 24,725 1,018,423 AVEO Pharmaceuticals, Inc.*(c) 4,360 31,828 United Community Banks, Inc. 15,597 539,344 Avid Bioservices, Inc.* 12,070 256,850 United Security Bancshares 2,690 22,865 Avidity Biosciences, Inc.*(c) 6,088 144,529 Unity Bancorp, Inc. 1,517 36,772 Avrobio, Inc.* 7,097 63,802 Univest Financial Corp. 5,748 167,612 Axcella Health, Inc.* 3,096 9,876 Valley National Bancorp 79,575 1,139,514 Aziyo Biologics, Inc., Class A* 451 5,660 Veritex Holdings, Inc. 9,478 332,962 Beam Therapeutics, Inc.*(c) 7,971 623,571 Washington Trust Bancorp, Inc. 3,408 187,406 Beyondspring, Inc.*(c) 3,796 39,365 WesBanco, Inc. 13,018 506,661 BioAtla, Inc.*(c) 2,316 99,704 West Bancorp, Inc. 3,199 89,316 BioCryst Pharmaceuticals, Inc.*(c) 35,274 556,271 Westamerica Bancorp 5,221 327,513 Biohaven Pharmaceutical Holding 50,742,433 Co. Ltd.* 9,606 835,722 Beverages - 0.2% Bioxcel Therapeutics, Inc.*(c) 2,549 84,193 Celsius Holdings, Inc.* 7,184 470,839 Black Diamond Therapeutics, Inc.* 3,612 47,389 Coca-Cola Consolidated, Inc. 943 381,839 Blueprint Medicines Corp.* 11,051 1,009,509

See accompanying notes to the financial statements.

Ultra Russell2000 Schedule of Portfolio Investments May 31, 2021

Investments Shares Value ($) Investments Shares Value ($) Bolt Biotherapeutics, Inc.* 2,535 44,388 Frequency Therapeutics, Inc.*(c) 5,017 44,400 BrainStorm Cell Therapeutics, G1 Therapeutics, Inc.*(c) 6,808 147,870 Inc.* 6,093 21,813 Galectin Therapeutics, Inc.* 7,427 29,485 Bridgebio Pharma, Inc.*(c) 18,788 1,112,250 Galera Therapeutics, Inc.*(c) 1,744 14,946 C4 Therapeutics, Inc.* 2,133 78,814 Generation Bio Co.* 8,046 275,656 Cabaletta Bio, Inc.* 2,578 29,235 Genprex, Inc.* 5,810 21,729 Calithera Biosciences, Inc.* 13,138 29,955 Geron Corp.* 57,373 79,175 Calyxt, Inc.*(c) 2,063 8,892 GlycoMimetics, Inc.*(c) 7,406 18,885 CareDx, Inc.* 10,024 805,930 Gossamer Bio, Inc.*(c) 11,312 95,813 CASI Pharmaceuticals, Inc.*(c) 13,207 21,131 Gritstone bio, Inc.*(c) 6,013 55,320 Catabasis Pharmaceuticals, Inc.*(c) 4,046 8,254 Halozyme Therapeutics, Inc.*(c) 26,555 1,099,643 Catalyst Biosciences, Inc.* 6,148 26,252 Harpoon Therapeutics, Inc.* 2,707 55,818 Catalyst Pharmaceuticals, Inc.* 19,385 107,199 Heron Therapeutics, Inc.*(c) 17,500 232,225 CEL-SCI Corp.*(c) 7,070 152,076 Homology Medicines, Inc.* 6,786 45,059 Centogene NV* 1,701 16,687 Hookipa Pharma, Inc.* 2,869 47,884 Checkmate Pharmaceuticals, iBio, Inc.*(c) 42,745 61,980 Inc.*(c) 1,789 12,094 Ideaya Biosciences, Inc.*(c) 3,501 70,545 Checkpoint Therapeutics, Inc.* 10,338 27,706 IGM Biosciences, Inc.* 1,497 111,751 ChemoCentryx, Inc.* 9,899 100,475 Immunic, Inc.*(c) 1,113 15,037 Chimerix, Inc.* 11,880 92,902 ImmunityBio, Inc.*(c) 6,295 110,477 Chinook Therapeutics, Inc.* 2,648 43,692 ImmunoGen, Inc.* 38,305 236,725 Cidara Therapeutics, Inc.*(c) 7,199 14,542 Immunome, Inc.* 420 8,786 Clovis Oncology, Inc.*(c) 16,559 84,948 Immunovant, Inc.*(c) 7,487 113,503 Codiak Biosciences, Inc.* 1,285 29,067 Inhibrx, Inc.* 1,624 34,364 Cohbar, Inc.*(b)(c) 6,925 8,656 Inovio Pharmaceuticals, Inc.*(c) 36,987 279,252 Coherus Biosciences, Inc.*(c) 11,750 154,630 Inozyme Pharma, Inc.* 2,404 39,329 Concert Pharmaceuticals, Inc.* 5,907 23,746 Insmed, Inc.* 20,220 497,412 Constellation Pharmaceuticals, Intellia Therapeutics, Inc.* 10,956 821,043 Inc.* 6,129 121,415 Intercept Pharmaceuticals, Inc.*(c) 5,177 86,094 ContraFect Corp.*(c) 4,880 19,715 Invitae Corp.*(c) 24,214 696,879 Corbus Pharmaceuticals Holdings, Ironwood Pharmaceuticals, Inc.* 31,862 368,643 Inc.*(c) 15,344 33,296 iTeos Therapeutics, Inc.* 3,939 80,907 Cortexyme, Inc.*(c) 3,140 129,902 IVERIC bio, Inc.*(c) 16,044 113,431 Crinetics Pharmaceuticals, Inc.* 5,407 94,893 Jounce Therapeutics, Inc.* 3,444 27,035 Cue Biopharma, Inc.* 5,901 84,620 Kadmon Holdings, Inc.* 34,448 132,280 Cullinan Oncology, Inc.*(c) 2,624 78,012 KalVista Pharmaceuticals, Inc.* 3,807 102,789 Cyclerion Therapeutics, Inc.* 4,424 14,334 Karuna Therapeutics, Inc.*(c) 3,155 352,792 Cytokinetics, Inc.* 13,251 289,269 Karyopharm Therapeutics, Inc.*(c) 14,158 131,386 CytomX Therapeutics, Inc.* 12,297 88,047 Keros Therapeutics, Inc.* 2,645 144,311 Decibel Therapeutics, Inc.* 1,426 12,763 Kezar Life Sciences, Inc.*(c) 6,250 35,750 Deciphera Pharmaceuticals, Inc.* 7,707 260,034 Kindred Biosciences, Inc.*(c) 7,441 35,940 Denali Therapeutics, Inc.* 12,557 798,500 Kiniksa Pharmaceuticals Ltd., Class DermTech, Inc.*(c) 2,042 83,559 A* 5,337 72,743 Dicerna Pharmaceuticals, Inc.* 13,169 429,309 Kinnate Biopharma, Inc.*(c) 2,700 63,396 Dyadic International, Inc.*(c) 3,852 14,522 Kodiak Sciences, Inc.* 6,575 549,801 Dynavax Technologies Corp.*(c) 21,243 174,193 Kronos Bio, Inc.*(c) 2,971 72,522 Dyne Therapeutics, Inc.* 3,219 61,515 Krystal Biotech, Inc.* 3,010 196,372 Eagle Pharmaceuticals, Inc.* 2,072 82,093 Kura Oncology, Inc.* 12,496 278,036 Editas Medicine, Inc.*(c) 13,332 452,621 Kymera Therapeutics, Inc.* 2,016 96,949 Eiger BioPharmaceuticals, Inc.* 6,110 48,025 La Jolla Pharmaceutical Co.* 3,602 15,489 Emergent BioSolutions, Inc.* 9,009 546,396 Lexicon Pharmaceuticals, Inc.*(c) 9,929 43,588 Enanta Pharmaceuticals, Inc.* 3,844 187,049 Ligand Pharmaceuticals, Inc.* 2,879 338,858 Enochian Biosciences, Inc.*(c) 2,754 11,209 LogicBio Therapeutics, Inc.*(c) 3,274 14,307 Epizyme, Inc.*(c) 17,813 146,601 MacroGenics, Inc.* 10,951 352,513 Esperion Therapeutics, Inc.*(c) 5,167 102,875 Madrigal Pharmaceuticals, Inc.* 1,747 196,188 Evelo Biosciences, Inc.*(c) 4,601 61,745 Magenta Therapeutics, Inc.* 4,134 51,055 Exicure, Inc.*(c) 11,848 19,786 MannKind Corp.*(c) 45,237 199,948 Fate Therapeutics, Inc.* 15,207 1,164,856 Marker Therapeutics, Inc.* 6,085 17,707 Fennec Pharmaceuticals, Inc.*(c) 4,345 32,023 MediciNova, Inc.*(c) 8,582 36,216 FibroGen, Inc.*(c) 16,825 357,531 MEI Pharma, Inc.*(c) 21,906 63,089 Flexion Therapeutics, Inc.*(c) 8,743 73,179 MeiraGTx Holdings plc* 4,763 65,682 Foghorn Therapeutics, Inc.* 1,441 15,001 Mersana Therapeutics, Inc.* 10,628 152,193 Forma Therapeutics Holdings, Inc.* 6,035 169,402 Metacrine, Inc.* 1,323 5,451 Fortress Biotech, Inc.*(c) 13,351 53,805 Minerva Neurosciences, Inc.* 7,081 20,889

See accompanying notes to the financial statements.

Ultra Russell2000 Schedule of Portfolio Investments May 31, 2021

Investments Shares Value ($) Investments Shares Value ($) Mirati Therapeutics, Inc.* 8,546 1,351,550 SpringWorks Therapeutics, Inc.* 4,800 391,392 Mirum Pharmaceuticals, Inc.*(c) 1,194 19,749 Spruce Biosciences, Inc.* 1,391 19,655 Molecular Templates, Inc.*(c) 5,288 47,275 SQZ Biotechnologies Co.*(c) 1,037 14,072 Morphic Holding, Inc.* 2,780 137,221 Stoke Therapeutics, Inc.*(c) 2,710 107,479 Mustang Bio, Inc.* 10,058 33,694 Sutro Biopharma, Inc.* 6,490 120,779 Myriad Genetics, Inc.* 14,215 407,260 Syndax Pharmaceuticals, Inc.* 6,211 114,096 Natera, Inc.* 15,104 1,421,891 Syros Pharmaceuticals, Inc.* 9,421 60,765 Neoleukin Therapeutics, Inc.* 6,433 64,523 Taysha Gene Therapies, Inc.* 1,735 39,038 NeuBase Therapeutics, Inc.* 3,353 17,335 TCR2 Therapeutics, Inc.* 5,780 110,687 NeuroBo Pharmaceuticals, Inc.* 1,348 3,801 TG Therapeutics, Inc.*(c) 24,298 847,271 NexImmune, Inc.* 1,277 23,727 Translate Bio, Inc.*(c) 13,612 245,152 NextCure, Inc.* 3,767 29,571 Travere Therapeutics, Inc.* 11,049 167,613 Nkarta, Inc.* 4,063 98,934 Turning Point Therapeutics, Inc.* 7,456 493,438 Novavax, Inc.*(c) 12,306 1,816,612 Twist Bioscience Corp.* 9,380 1,006,568 Nurix Therapeutics, Inc.*(c) 4,780 133,362 Tyme Technologies, Inc.*(c) 13,875 21,367 Nymox Pharmaceutical Corp.* 8,449 12,842 Ultragenyx Pharmaceutical, Inc.* 12,690 1,290,700 Olema Pharmaceuticals, Inc.*(c) 2,426 67,831 UNITY Biotechnology, Inc.*(c) 7,078 31,709 Oncocyte Corp.* 14,235 62,919 UroGen Pharma Ltd.*(c) 3,869 68,172 Oncorus, Inc.* 1,500 25,800 Vanda Pharmaceuticals, Inc.* 10,730 189,814 OPKO Health, Inc.*(c) 79,431 303,426 Vaxart, Inc.*(c) 10,463 69,265 Organogenesis Holdings, Inc.* 4,888 87,153 Vaxcyte, Inc.*(c) 5,785 121,890 Orgenesis, Inc.*(c) 3,764 18,180 VBI Vaccines, Inc.*(c) 35,988 116,241 ORIC Pharmaceuticals, Inc.* 4,524 103,373 Veracyte, Inc.* 13,234 516,788 Ovid therapeutics, Inc.*(c) 9,500 39,425 Verastem, Inc.*(c) 34,069 131,847 Oyster Point Pharma, Inc.*(c) 1,211 21,701 Vericel Corp.* 9,083 513,189 Passage Bio, Inc.* 5,741 76,068 Viking Therapeutics, Inc.*(c) 13,095 68,618 PhaseBio Pharmaceuticals, Inc.*(c) 3,050 10,309 Vir Biotechnology, Inc.*(c) 10,697 448,311 Pieris Pharmaceuticals, Inc.* 10,601 36,467 Vor BioPharma, Inc.*(c) 2,279 48,087 PMV Pharmaceuticals, Inc.* 2,731 93,946 Voyager Therapeutics, Inc.* 5,162 21,990 Poseida Therapeutics, Inc.*(c) 6,609 55,846 vTv Therapeutics, Inc., Class A* 2,367 5,823 Praxis Precision Medicines, Inc.* 2,203 43,157 X4 Pharmaceuticals, Inc.* 3,211 30,505 Precigen, Inc.*(c) 13,971 92,209 XBiotech, Inc.*(c) 2,889 49,835 Precision BioSciences, Inc.* 9,286 97,782 Xencor, Inc.* 11,075 425,944 Prelude Therapeutics, Inc.*(c) 1,979 68,790 XOMA Corp.*(c) 1,217 35,865 Protagonist Therapeutics, Inc.* 7,032 246,894 Y-mAbs Therapeutics, Inc.*(c) 6,094 218,348 Protara Therapeutics, Inc.*(c) 771 7,309 Zentalis Pharmaceuticals, Inc.* 5,740 320,579 Prothena Corp. plc* 6,142 179,162 ZIOPHARM Oncology, Inc.*(c) 42,574 129,425 PTC Therapeutics, Inc.* 12,342 484,670 50,443,326 Puma Biotechnology, Inc.* 6,161 64,999 Building Products - 1.3% Radius Health, Inc.* 9,079 175,134 AAON, Inc. 8,198 543,117 RAPT Therapeutics, Inc.*(c) 2,190 42,267 Advanced Drainage Systems, Inc. 11,248 1,275,748 REGENXBIO, Inc.* 7,722 272,355 Alpha Pro Tech Ltd.*(c) 2,441 20,114 Relay Therapeutics, Inc.* 9,159 294,187 American Woodmark Corp.* 3,377 293,529 Replimune Group, Inc.* 4,809 187,407 Apogee Enterprises, Inc. 5,135 195,181 REVOLUTION Medicines, Inc.* 8,530 255,132 Builders FirstSource, Inc.* 40,719 1,813,624 Rhythm Pharmaceuticals, Inc.* 7,609 149,212 Caesarstone Ltd. 4,441 73,276 Rigel Pharmaceuticals, Inc.* 33,937 126,246 Cornerstone Building Brands, Inc.* 8,733 148,112 Rocket Pharmaceuticals, Inc.* 7,469 317,432 CSW Industrials, Inc. 2,734 333,056 Rubius Therapeutics, Inc.* 7,160 174,919 Gibraltar Industries, Inc.* 6,509 517,140 Sangamo Therapeutics, Inc.*(c) 22,995 247,886 Griffon Corp. 9,189 241,579 Savara, Inc.*(c) 9,619 17,314 Insteel Industries, Inc. 3,707 129,597 Scholar Rock Holding Corp.* 5,110 137,306 JELD-WEN Holding, Inc.* 13,552 379,592 Scopus Biopharma, Inc.*(c) 1,110 7,859 Masonite International Corp.* 4,865 581,611 Selecta Biosciences, Inc.* 13,543 58,777 PGT Innovations, Inc.* 11,388 275,134 Sensei Biotherapeutics, Inc.* 1,522 18,918 Quanex Building Products Corp. 6,627 176,477 Seres Therapeutics, Inc.* 11,029 232,822 Resideo Technologies, Inc.* 28,739 859,296 Shattuck Labs, Inc.* 2,621 71,134 Simpson Manufacturing Co., Inc. 8,700 977,184 Sigilon Therapeutics, Inc.* 1,540 17,972 UFP Industries, Inc. 11,947 950,025 Silverback Therapeutics, Inc.*(c) 2,535 69,789 9,783,392 Soleno Therapeutics, Inc.*(c) 11,899 12,256 Capital Markets - 1.2% Solid Biosciences, Inc.* 5,616 21,341 Artisan Partners Asset Sorrento Therapeutics, Inc.*(c) 49,981 375,857 Management, Inc., Class A 11,292 576,795 Spectrum Pharmaceuticals, Inc.* 28,808 99,388 AssetMark Financial Holdings, Spero Therapeutics, Inc.* 4,083 59,203 Inc.* 3,265 85,086

See accompanying notes to the financial statements.

Ultra Russell2000 Schedule of Portfolio Investments May 31, 2021

Investments Shares Value ($) Investments Shares Value ($) Associated Capital Group, Inc., Kraton Corp.* 6,229 211,475 Class A 352 12,901 Kronos Worldwide, Inc. 4,466 72,528 B Riley Financial, Inc. 3,998 294,413 Livent Corp.*(c) 29,296 571,565 BGC Partners, Inc., Class A 61,865 365,004 Marrone Bio Innovations, Inc.* 13,855 19,397 BlackRock Capital Investment Minerals Technologies, Inc. 6,804 591,948 Corp. 2 8 Orion Engineered Carbons SA* 12,037 243,629 Blucora, Inc.* 9,617 166,759 PQ Group Holdings, Inc. 7,665 125,246 Brightsphere Investment Group, Quaker Chemical Corp. 2,653 643,485 Inc. 12,252 272,852 Rayonier Advanced Materials, Cohen & Steers, Inc.(c) 4,881 356,948 Inc.* 12,374 95,527 Cowen, Inc., Class A 5,120 201,370 Sensient Technologies Corp. 8,474 735,119 Diamond Hill Investment Group, Stepan Co. 4,304 579,577 Inc. 606 106,298 Trecora Resources* 4,821 39,484 Donnelley Financial Solutions, Tredegar Corp. 5,222 79,583 Inc.* 5,933 176,863 Trinseo SA 7,643 496,336 Federated Hermes, Inc., Class B 18,985 603,723 Tronox Holdings plc, Class A 21,723 510,056 Focus Financial Partners, Inc., 10,452,213 Class A* 7,678 389,198 Commercial Services & Supplies - 1.5% GAMCO Investors, Inc., Class A 1,064 27,249 ABM Industries, Inc. 13,389 667,977 Greenhill & Co., Inc. 2,851 49,636 ACCO Brands Corp. 18,444 168,025 Hamilton Lane, Inc., Class A 6,411 579,362 Brady Corp., Class A 9,408 538,420 Hercules Capital, Inc. 6 102 BrightView Holdings, Inc.* 8,169 141,732 Houlihan Lokey, Inc. 10,337 774,138 Brink's Co. (The) 9,825 740,903 Moelis & Co., Class A 10,551 566,483 Casella Waste Systems, Inc., Class Oppenheimer Holdings, Inc., Class A* 9,736 656,498 A 1,852 92,544 CECO Environmental Corp.* 6,184 47,184 Piper Sandler Cos. 3,480 443,561 Cimpress plc* 3,550 352,551 PJT Partners, Inc., Class A 4,648 338,467 CompX International, Inc. 335 7,430 Prospect Capital Corp. 3 25 CoreCivic, Inc., REIT* 23,888 187,043 Pzena Investment Management, Covanta Holding Corp. 23,676 350,642 Inc., Class A 3,380 39,208 Deluxe Corp. 8,340 379,970 Safeguard Scientifics, Inc.* 3,945 27,576 Ennis, Inc. 5,121 107,336 Sculptor Capital Management, Inc., Harsco Corp.* 15,615 350,088 Class A 3,694 96,524 Healthcare Services Group, Inc. 14,911 447,181 Siebert Financial Corp.* 2,313 9,576 Heritage-Crystal Clean, Inc.* 3,126 96,281 Silvercrest Asset Management Herman Miller, Inc. 11,779 563,036 Group, Inc., Class A 1,908 30,375 HNI Corp. 8,517 388,546 StepStone Group, Inc., Class A 3,882 123,059 Interface, Inc. 11,648 190,328 Stifel Financial Corp. 19,961 1,382,898 KAR Auction Services, Inc.*(c) 25,773 462,368 StoneX Group, Inc.* 3,330 225,441 Kimball International, Inc., Class B 7,200 95,904 Value Line, Inc. 206 6,365 Knoll, Inc. 9,977 259,402 Virtus Investment Partners, Inc. 1,452 408,346 Matthews International Corp., Class Westwood Holdings Group, Inc. 1,540 30,384 A 6,169 241,023 WisdomTree Investments, Inc. 27,795 186,227 Montrose Environmental Group, 9,045,764 Inc.* 4,289 215,050 Chemicals - 1.4% NL Industries, Inc. 1,672 12,105 Advanced Emissions Solutions, Pitney Bowes, Inc. 34,605 289,990 Inc.* 3,163 25,114 Quad/Graphics, Inc.* 6,639 21,975 AdvanSix, Inc.* 5,470 173,180 SP Plus Corp.* 4,598 150,309 AgroFresh Solutions, Inc.* 7,027 15,530 Steelcase, Inc., Class A 17,231 249,333 American Vanguard Corp. 5,761 105,945 Team, Inc.* 5,993 50,941 Amyris, Inc.*(c) 21,289 302,942 Tetra Tech, Inc. 10,767 1,286,333 Avient Corp. 18,248 948,531 UniFirst Corp. 3,014 668,144 Balchem Corp. 6,425 841,675 US Ecology, Inc.*(c) 6,301 249,709 Chase Corp. 1,472 156,032 Viad Corp.* 4,031 177,928 Ferro Corp.* 16,346 353,074 Vidler Water Resouces, Inc.*(c) 3,328 34,944 FutureFuel Corp. 5,165 53,045 VSE Corp. 2,007 95,473 GCP Applied Technologies, Inc.* 9,761 237,973 10,942,102 Hawkins, Inc. 3,866 131,521 Communications Equipment - 0.5% HB Fuller Co. 10,390 718,157 ADTRAN, Inc.(c) 9,552 189,225 Ingevity Corp.* 8,294 682,679 Applied Optoelectronics, Inc.*(c) 4,320 35,554 Innospec, Inc. 4,888 494,226 CalAmp Corp.* 6,824 94,649 Intrepid Potash, Inc.* 1,923 55,036 Calix, Inc.* 10,511 465,742 Koppers Holdings, Inc.* 4,113 142,598 Cambium Networks Corp.* 1,619 93,433

See accompanying notes to the financial statements.

Ultra Russell2000 Schedule of Portfolio Investments May 31, 2021

Investments Shares Value ($) Investments Shares Value ($) Casa Systems, Inc.*(c) 6,327 54,918 LendingClub Corp.* 14,091 215,310 Clearfield, Inc.* 2,234 84,490 Navient Corp. 36,738 671,203 Comtech Telecommunications Nelnet, Inc., Class A 3,438 259,638 Corp. 4,912 124,225 Oportun Financial Corp.* 3,948 75,328 Digi International, Inc.* 5,858 111,068 PRA Group, Inc.* 9,009 350,720 DZS, Inc.* 2,900 47,995 PROG Holdings, Inc. 13,463 709,769 Extreme Networks, Inc.* 24,155 276,333 Regional Management Corp. 1,645 76,887 Genasys, Inc.* 6,646 36,221 World Acceptance Corp.* 870 139,731 Harmonic, Inc.* 19,186 133,726 4,285,068 Infinera Corp.*(c) 32,764 314,534 Containers & Packaging - 0.2% Inseego Corp.*(c) 13,990 120,314 Greif, Inc., Class A 5,127 316,387 KVH Industries, Inc.* 3,297 47,114 Greif, Inc., Class B 1,193 71,317 NETGEAR, Inc.* 5,987 232,775 Myers Industries, Inc. 7,161 157,757 NetScout Systems, Inc.* 14,097 414,452 O-I Glass, Inc.* 31,299 576,841 PCTEL, Inc.*(c) 3,567 23,507 Pactiv Evergreen, Inc. 7,900 117,236 Plantronics, Inc.* 6,914 226,779 Ranpak Holdings Corp.* 5,784 127,711 Resonant, Inc.* 10,167 33,144 UFP Technologies, Inc.* 1,369 74,528 Ribbon Communications, Inc.* 13,612 101,273 1,441,777 Viavi Solutions, Inc.* 45,636 799,999 Distributors - 0.1% 4,061,470 Core-Mark Holding Co., Inc. 8,920 409,071 Construction & Engineering - 1.2% Funko, Inc., Class A* 4,871 127,864 Ameresco, Inc., Class A* 4,923 264,660 Greenlane Holdings, Inc., Class API Group Corp.*(b) 27,964 591,439 A*(c) 2,053 7,965 Arcosa, Inc. 9,693 615,506 Weyco Group, Inc. 1,203 24,758 Argan, Inc. 2,943 144,501 569,658 Comfort Systems USA, Inc. 7,177 594,973 Diversified Consumer Services - 0.3% Concrete Pumping Holdings, Inc.* 5,187 41,600 Adtalem Global Education, Inc.* 10,063 366,092 Construction Partners, Inc., Class American Public Education, Inc.* 2,879 80,612 A* 5,611 180,730 Aspen Group, Inc.* 4,447 25,881 Dycom Industries, Inc.* 6,130 459,260 Carriage Services, Inc. 3,290 126,204 EMCOR Group, Inc. 10,857 1,369,176 Houghton Mifflin Harcourt Co.*(c) 21,078 209,515 Fluor Corp.*(c) 28,139 520,572 Laureate Education, Inc., Class A* 21,480 313,823 Granite Construction, Inc.(c) 9,361 377,810 OneSpaWorld Holdings Ltd.* 9,022 101,137 Great Lakes Dredge & Dock Perdoceo Education Corp.* 13,826 168,539 Corp.*(c) 12,692 185,430 Regis Corp.*(c) 4,704 42,995 HC2 Holdings, Inc.* 9,890 39,560 Strategic Education, Inc. 4,817 341,236 IES Holdings, Inc.* 1,602 85,002 Stride, Inc.*(c) 8,082 217,244 MasTec, Inc.* 11,324 1,317,321 Universal Technical Institute, Inc.* 6,418 38,829 Matrix Service Co.* 5,236 57,072 Vivint Smart Home, Inc.*(c) 15,958 221,976 MYR Group, Inc.* 3,254 283,228 WW International, Inc.* 9,422 370,285 Northwest Pipe Co.* 1,923 60,882 2,624,368 NV5 Global, Inc.* 2,176 198,734 Diversified Financial Services - 0.1% Primoris Services Corp. 9,588 304,803 Alerus Financial Corp. 2,950 97,203 Sterling Construction Co., Inc.* 5,523 124,268 A-Mark Precious Metals, Inc. 1,002 53,427 Tutor Perini Corp.* 8,146 126,100 Banco Latinoamericano de WillScot Mobile Mini Holdings Comercio Exterior SA, Class E 6,182 94,399 Corp.* 34,591 1,003,139 Cannae Holdings, Inc.* 17,223 617,445 8,945,766 GWG Holdings, Inc.*(c) 644 4,411 Construction Materials - 0.2% Marlin Business Services Corp. 1,670 37,608 Forterra, Inc.* 5,810 135,838 SWK Holdings Corp.* 710 11,424 Summit Materials, Inc., Class A* 22,895 797,204 915,917 United States Lime & Minerals, Diversified Telecommunication Services - 0.6% Inc.(c) 401 55,799 Alaska Communications Systems US Concrete, Inc.* 3,192 181,912 Group, Inc.* 10,469 34,757 1,170,753 Anterix, Inc.* 2,227 110,147 Consumer Finance - 0.6% ATN International, Inc. 2,238 105,790 Atlanticus Holdings Corp.*(c) 1,007 39,887 Bandwidth, Inc., Class A* 3,829 452,932 Curo Group Holdings Corp. 3,656 60,361 Cincinnati Bell, Inc.* 10,009 154,139 Encore Capital Group, Inc.* 6,234 288,572 Cogent Communications Holdings, Enova International, Inc.* 6,910 261,682 Inc. 8,487 641,617 EZCORP, Inc., Class A* 9,658 70,986 Consolidated Communications FirstCash, Inc. 8,123 647,566 Holdings, Inc.* 14,529 135,991 Green Dot Corp., Class A* 10,284 417,428 IDT Corp., Class B* 3,957 114,199

See accompanying notes to the financial statements.

Ultra Russell2000 Schedule of Portfolio Investments May 31, 2021

Investments Shares Value ($) Investments Shares Value ($) Iridium Communications, Inc.* 23,850 911,309 Novanta, Inc.* 6,834 949,721 Liberty Latin America Ltd., Class OSI Systems, Inc.* 3,381 325,793 A* 9,219 131,555 PAR Technology Corp.*(c) 3,806 254,850 Liberty Latin America Ltd., Class PC Connection, Inc.(c) 2,204 107,533 C* 30,981 445,507 Plexus Corp.* 5,660 559,265 Ooma, Inc.* 4,264 82,764 Powerfleet, Inc.* 6,489 43,736 ORBCOMM, Inc.* 14,782 165,411 Research Frontiers, Inc.*(c) 5,305 12,626 Vonage Holdings Corp.* 46,788 644,739 Rogers Corp.* 3,724 697,691 4,130,857 Sanmina Corp.* 12,797 538,882 Electric Utilities - 0.5% ScanSource, Inc.* 5,050 154,177 ALLETE, Inc. 10,406 716,869 TTM Technologies, Inc.* 19,955 302,318 Genie Energy Ltd., Class B 2,634 16,067 Vishay Intertechnology, Inc. 26,550 639,059 MGE Energy, Inc. 7,278 545,996 Vishay Precision Group, Inc.* 2,482 80,913 Otter Tail Corp. 8,098 388,461 Wrap Technologies, Inc.*(c) 2,282 20,447 PNM Resources, Inc. 17,100 839,952 11,865,671 Portland General Electric Co. 17,972 861,578 Energy Equipment & Services - 0.6% Spark Energy, Inc., Class A(c) 2,392 24,853 Archrock, Inc. 25,913 238,400 3,393,776 Aspen Aerogels, Inc.* 4,123 83,614 Electrical Equipment - 1.1% Bristow Group, Inc.* 1,295 35,328 Allied Motion Technologies, Inc. 2,190 77,526 Cactus, Inc., Class A 9,502 332,950 American Superconductor Corp.* 5,375 80,464 ChampionX Corp.* 37,105 983,282 Atkore, Inc.* 9,337 720,816 DMC Global, Inc.* 2,906 153,931 AZZ, Inc. 5,044 269,804 Dril-Quip, Inc.* 6,978 233,972 Bloom Energy Corp., Class A* 17,714 428,147 Exterran Corp.* 5,208 24,582 Encore Wire Corp. 4,068 334,390 Frank's International NV* 30,949 103,989 EnerSys 8,491 800,192 Helix Energy Solutions Group, FuelCell Energy, Inc.*(c) 62,897 617,649 Inc.* 28,492 149,013 LSI Industries, Inc. 5,119 47,607 Liberty Oilfield Services, Inc., Orion Energy Systems, Inc.* 5,402 34,627 Class A* 16,544 247,498 Plug Power, Inc.*(c) 82,306 2,526,794 Nabors Industries Ltd.* 1,404 131,442 Powell Industries, Inc. 1,792 61,573 National Energy Services Reunited Preformed Line Products Co. 601 44,726 Corp.*(c) 4,124 52,911 Sunrun, Inc.*(c) 31,709 1,418,026 Newpark Resources, Inc.* 17,933 59,896 Thermon Group Holdings, Inc.* 6,539 113,975 NexTier Oilfield Solutions, Inc.* 32,318 137,351 TPI Composites, Inc.*(c) 6,143 296,707 Oceaneering International, Inc.* 19,825 282,903 Ultralife Corp.* 1,815 16,571 Oil States International, Inc.* 12,025 77,321 Vicor Corp.* 3,852 346,988 Patterson-UTI Energy, Inc. 36,576 306,141 8,236,582 ProPetro Holding Corp.* 16,008 159,120 Electronic Equipment, Instruments & Components - 1.6% RPC, Inc.* 11,479 56,362 908 Devices, Inc.*(c) 1,442 60,751 Select Energy Services, Inc., Class Akoustis Technologies, Inc.*(c) 7,218 69,148 A* 11,770 66,854 Arlo Technologies, Inc.* 15,817 106,132 Solaris Oilfield Infrastructure, Inc., Badger Meter, Inc. 5,820 556,217 Class A 5,751 57,452 Bel Fuse, Inc., Class B 2,005 33,042 Tidewater, Inc.*(c) 8,069 111,029 Belden, Inc. 8,814 445,988 Transocean Ltd.* 116,784 441,444 Benchmark Electronics, Inc. 7,287 225,533 US Silica Holdings, Inc.* 14,726 151,089 CTS Corp. 6,360 243,270 4,677,874 Daktronics, Inc.* 7,301 49,355 Entertainment - 0.4% ePlus, Inc.* 2,653 250,894 AMC Entertainment Holdings, Inc., Fabrinet* 7,333 657,697 Class A*(c) 75,689 1,976,997 FARO Technologies, Inc.* 3,544 268,104 Cinemark Holdings, Inc.* 21,347 483,723 II-VI, Inc.*(c) 20,497 1,380,883 Eros STX Global Corp.*(c) 32,403 38,884 Insight Enterprises, Inc.* 6,918 722,793 Gaia, Inc.* 2,419 28,084 Intellicheck, Inc.*(c) 3,587 26,903 IMAX Corp.* 9,885 213,615 Iteris, Inc.* 8,249 60,795 Liberty Media Corp.-Liberty Itron, Inc.* 8,783 837,459 Braves, Class A*(c) 2,003 55,924 Kimball Electronics, Inc.* 4,806 107,558 Liberty Media Corp.-Liberty Knowles Corp.* 17,687 363,291 Braves, Class C* 7,253 198,369 Luna Innovations, Inc.* 5,843 59,306 LiveXLive Media, Inc.*(c) 9,953 49,168 Methode Electronics, Inc. 7,327 354,480 Marcus Corp. (The)* 4,478 94,530 Napco Security Technologies, 3,139,294 Inc.*(c) 2,840 92,414 Equity Real Estate Investment Trusts (REITs) - 4.1% nLight, Inc.* 7,048 206,647 Acadia Realty Trust 16,942 367,641

See accompanying notes to the financial statements.

Ultra Russell2000 Schedule of Portfolio Investments May 31, 2021

Investments Shares Value ($) Investments Shares Value ($) Agree Realty Corp. 12,441 874,353 Pebblebrook Hotel Trust 25,993 580,944 Alexander & Baldwin, Inc. 14,397 276,566 Physicians Realty Trust 41,688 755,803 Alexander's, Inc. 432 117,141 Piedmont Office Realty Trust, Inc., Alpine Income Property Trust, Inc. 1,341 24,446 Class A 24,789 458,349 American Assets Trust, Inc. 10,050 367,328 Plymouth Industrial REIT, Inc. 4,901 93,805 American Finance Trust, Inc. 21,810 198,471 PotlatchDeltic Corp. 13,089 787,958 Armada Hoffler Properties, Inc. 11,487 152,432 Preferred Apartment Communities, Bluerock Residential Growth REIT, Inc., Class A 9,496 93,156 Inc. 4,420 42,918 PS Business Parks, Inc. 4,016 622,319 Broadstone Net Lease, Inc. 7,089 154,824 QTS Realty Trust, Inc., Class A(c) 12,798 811,137 BRT Apartments Corp. 2,104 37,725 Retail Opportunity Investments CareTrust REIT, Inc. 19,082 444,229 Corp. 23,104 412,637 CatchMark Timber Trust, Inc., Retail Properties of America, Inc., Class A 9,733 116,309 Class A 42,834 516,150 Centerspace REIT 2,597 184,880 Retail Value, Inc. 3,273 57,474 Chatham Lodging Trust* 9,259 121,941 RLJ Lodging Trust 32,783 503,875 CIM Commercial Trust Corp. 2,248 26,931 RPT Realty 16,113 205,441 City Office REIT, Inc. 8,550 98,838 Ryman Hospitality Properties, Inc.* 10,081 755,168 Clipper Realty, Inc. 2,966 24,025 Sabra Health Care REIT, Inc. 41,029 716,777 Colony Capital, Inc.*(c) 95,916 658,943 Safehold, Inc. 3,594 251,939 Columbia Property Trust, Inc. 22,871 400,014 Saul Centers, Inc. 2,382 105,880 Community Healthcare Trust, Inc. 4,450 210,396 Seritage Growth Properties, Class CorEnergy Infrastructure Trust, A*(c) 6,797 114,733 Inc.(c) 2,741 16,695 Service Properties Trust 32,746 411,290 CorePoint Lodging, Inc.* 7,839 82,231 SITE Centers Corp. 30,585 457,857 CTO Realty Growth, Inc. 1,189 62,803 STAG Industrial, Inc.(c) 31,882 1,138,506 DiamondRock Hospitality Co.* 39,892 386,155 Summit Hotel Properties, Inc.* 20,648 198,427 Diversified Healthcare Trust 47,366 171,939 Sunstone Hotel Investors, Inc.* 42,933 539,238 Easterly Government Properties, Tanger Factory Outlet Centers, Inc. 16,295 337,795 Inc.(c) 18,086 317,048 EastGroup Properties, Inc. 7,816 1,235,553 Terreno Realty Corp. 13,505 859,188 Essential Properties Realty Trust, UMH Properties, Inc. 7,414 157,251 Inc. 20,766 531,610 Uniti Group, Inc. 38,596 419,153 Farmland Partners, Inc. 5,124 63,691 Universal Health Realty Income Four Corners Property Trust, Inc. 14,653 406,767 Trust 2,559 177,083 Franklin Street Properties Corp. 20,747 106,640 Urban Edge Properties 23,146 447,875 GEO Group, Inc. (The)(c) 23,528 122,110 Urstadt Biddle Properties, Inc., Getty Realty Corp. 6,974 217,101 Class A 5,940 108,583 Gladstone Commercial Corp. 6,718 145,579 Washington REIT 16,853 398,573 Gladstone Land Corp. 4,277 98,927 Whitestone REIT 7,955 65,867 Global Medical REIT, Inc. 8,779 126,418 Xenia Hotels & Resorts, Inc.* 22,630 439,248 Global Net Lease, Inc. 18,006 351,837 30,472,755 Healthcare Realty Trust, Inc. 27,953 848,094 Food & Staples Retailing - 0.6% Hersha Hospitality Trust* 6,797 73,068 Andersons, Inc. (The) 6,224 193,442 Independence Realty Trust, Inc. 20,345 347,493 BJ's Wholesale Club Holdings, Indus Realty Trust, Inc. 658 43,336 Inc.* 27,351 1,225,051 Industrial Logistics Properties Trust 12,967 324,953 Chefs' Warehouse, Inc. (The)* 6,028 185,421 Innovative Industrial Properties, HF Foods Group, Inc.*(c) 7,100 43,381 Inc. 4,682 843,837 Ingles Markets, Inc., Class A 2,851 176,591 iStar, Inc.(c) 14,338 241,022 Natural Grocers by Vitamin Kite Realty Group Trust 16,589 351,687 Cottage, Inc. 1,823 21,858 Lexington Realty Trust 54,572 675,601 Performance Food Group Co.* 26,163 1,311,551 LTC Properties, Inc. 7,766 304,272 PriceSmart, Inc. 4,540 400,882 Macerich Co. (The) 29,931 476,202 Rite Aid Corp.*(c) 10,932 199,728 Mack-Cali Realty Corp. 17,340 295,994 SpartanNash Co. 7,092 148,719 Monmouth Real Estate Investment United Natural Foods, Inc.* 11,180 424,393 Corp. 18,960 357,206 Village Super Market, Inc., Class National Health Investors, Inc. 8,693 572,956 A(c) 1,711 41,252 National Storage Affiliates Trust 12,505 576,481 Weis Markets, Inc.(c) 1,909 97,130 NETSTREIT Corp. 4,429 98,855 4,469,399 New Senior Investment Group, Inc. 16,365 108,500 Food Products - 1.1% NexPoint Residential Trust, Inc. 4,421 229,185 Alico, Inc. 1,045 33,440 Office Properties Income Trust 9,555 279,293 B&G Foods, Inc.(c) 12,739 389,813 One Liberty Properties, Inc.(c) 3,201 81,786 Bridgford Foods Corp.* 342 6,043

See accompanying notes to the financial statements.

Ultra Russell2000 Schedule of Portfolio Investments May 31, 2021

Investments Shares Value ($) Investments Shares Value ($) Calavo Growers, Inc. 3,288 234,106 Glaukos Corp.* 8,528 627,490 Cal-Maine Foods, Inc. 7,397 258,229 Heska Corp.* 1,390 275,428 Darling Ingredients, Inc.* 32,135 2,199,962 Inari Medical, Inc.* 3,310 287,804 Farmer Bros Co.* 3,289 39,600 Inogen, Inc.* 3,676 227,214 Fresh Del Monte Produce, Inc. 6,209 207,815 Integer Holdings Corp.* 6,532 590,950 Freshpet, Inc.* 8,137 1,438,784 Intersect ENT, Inc.* 6,494 114,619 Hostess Brands, Inc.*(c) 25,030 392,470 IntriCon Corp.* 1,691 37,760 J & J Snack Foods Corp. 2,989 524,809 Invacare Corp.* 6,746 53,968 John B Sanfilippo & Son, Inc. 1,737 162,079 iRadimed Corp.* 1,173 32,621 Laird Superfood, Inc.*(c) 623 20,360 iRhythm Technologies, Inc.* 5,755 434,272 Lancaster Colony Corp. 3,783 706,173 Lantheus Holdings, Inc.* 13,253 321,385 Landec Corp.* 5,174 61,933 LeMaitre Vascular, Inc. 3,320 170,017 Limoneira Co.(c) 3,031 56,952 LENSAR, Inc.* 1,482 12,256 Mission Produce, Inc.* 1,476 29,978 LivaNova plc* 9,758 815,183 Sanderson Farms, Inc. 4,022 654,581 Lucira Health, Inc.*(c) 2,086 10,305 Seneca Foods Corp., Class A* 1,298 60,020 Meridian Bioscience, Inc.* 8,455 175,526 Simply Good Foods Co. (The)* 17,014 587,493 Merit Medical Systems, Inc.* 10,817 652,698 Tootsie Roll Industries, Inc. 3,261 102,037 Mesa Laboratories, Inc. 945 232,527 Vital Farms, Inc.* 4,777 101,702 Milestone Scientific, Inc.* 9,194 19,124 8,268,379 Misonix, Inc.* 2,401 46,075 Gas Utilities - 0.6% Natus Medical, Inc.* 6,718 180,042 Brookfield Infrastructure Corp., Nemaura Medical, Inc.*(c) 1,476 20,088 Class A(c) 6,338 453,674 Neogen Corp.* 10,535 972,486 Chesapeake Utilities Corp. 3,428 392,712 Nevro Corp.* 6,790 1,023,253 New Jersey Resources Corp. 19,034 813,133 NuVasive, Inc.* 10,266 700,141 Northwest Natural Holding Co. 6,083 321,669 OraSure Technologies, Inc.* 14,197 136,433 ONE Gas, Inc. 10,472 778,279 Ortho Clinical Diagnostics RGC Resources, Inc. 1,522 34,823 Holdings plc* 17,620 362,091 South Jersey Industries, Inc. 20,144 537,039 Orthofix Medical, Inc.* 3,728 151,730 Southwest Gas Holdings, Inc. 11,372 750,666 OrthoPediatrics Corp.*(c) 2,622 148,117 Spire, Inc. 10,026 718,463 Outset Medical, Inc.* 1,988 95,961 4,800,458 PAVmed, Inc.*(c) 12,468 66,080 Health Care Equipment & Supplies - 2.5% Pulmonx Corp.* 2,321 99,617 Accelerate Diagnostics, Inc.*(c) 6,555 49,752 Pulse Biosciences, Inc.*(c) 2,834 51,125 Accuray, Inc.* 18,348 78,162 Quotient Ltd.* 14,472 60,204 Acutus Medical, Inc.*(c) 2,876 46,793 Repro-Med Systems, Inc.*(c) 5,385 22,994 Alphatec Holdings, Inc.* 10,994 159,413 Retractable Technologies, Inc.*(c) 2,742 24,925 AngioDynamics, Inc.* 7,324 169,331 Rockwell Medical, Inc.*(c) 13,921 12,113 Apyx Medical Corp.* 6,677 65,368 SeaSpine Holdings Corp.* 5,283 107,668 Aspira Women's Health, Inc.*(c) 17,011 95,091 Shockwave Medical, Inc.* 5,680 1,021,832 AtriCure, Inc.* 8,732 652,542 SI-BONE, Inc.* 5,766 173,960 Atrion Corp. 279 173,259 Sientra, Inc.* 10,345 72,001 Avanos Medical, Inc.* 9,493 380,669 Silk Road Medical, Inc.* 5,449 264,712 Axogen, Inc.* 7,431 150,849 Soliton, Inc.*(c) 1,389 30,947 Axonics, Inc.* 6,043 348,621 STAAR Surgical Co.* 9,151 1,336,321 Bellerophon Therapeutics, Inc.* 898 3,718 Stereotaxis, Inc.* 8,828 70,801 Beyond Air, Inc.*(c) 3,304 16,355 Surgalign Holdings, Inc.* 19,833 38,873 BioLife Solutions, Inc.* 2,809 93,568 Surmodics, Inc.* 2,671 141,697 BioSig Technologies, Inc.*(c) 4,981 18,031 Tactile Systems Technology, Inc.* 3,664 197,013 Bioventus, Inc., Class A* 1,536 27,310 Talis Biomedical Corp.*(c) 2,640 25,714 Cantel Medical Corp.* 7,577 616,237 Tela Bio, Inc.* 1,367 18,783 Cardiovascular Systems, Inc.* 7,859 307,994 TransMedics Group, Inc.* 5,022 128,764 Cerus Corp.* 32,788 189,843 Utah Medical Products, Inc. 680 58,283 Chembio Diagnostics, Inc.*(c) 3,948 12,594 Vapotherm, Inc.* 3,919 77,518 Co-Diagnostics, Inc.*(c) 5,304 42,803 Varex Imaging Corp.* 7,618 191,136 CONMED Corp. 5,427 747,244 Venus Concept, Inc.*(c) 5,078 10,359 CryoLife, Inc.* 7,569 218,063 ViewRay, Inc.* 24,132 141,896 CryoPort, Inc.* 7,972 445,794 VolitionRX Ltd.*(c) 5,914 20,640 Cutera, Inc.* 3,452 132,488 Zynex, Inc.*(c) 3,726 56,710 CytoSorbents Corp.* 8,201 66,346 18,850,432 Eargo, Inc.*(c) 1,626 55,317 Health Care Providers & Services - 2.2% Electromed, Inc.* 1,411 13,912 1Life Healthcare, Inc.* 15,699 580,863 ESC Co.*(d) 8,160 — Accolade, Inc.* 6,396 322,934 FONAR Corp.* 1,255 22,715 AdaptHealth Corp.* 14,996 392,745

See accompanying notes to the financial statements.

Ultra Russell2000 Schedule of Portfolio Investments May 31, 2021

Investments Shares Value ($) Investments Shares Value ($) Addus HomeCare Corp.* 2,959 284,567 Simulations Plus, Inc.(c) 3,034 160,135 AMN Healthcare Services, Inc.* 9,317 826,418 Tabula Rasa HealthCare, Inc.*(c) 4,231 182,821 Apollo Medical Holdings, Inc.* 4,035 140,741 Vocera Communications, Inc.* 6,415 216,314 Apria, Inc.* 1,514 46,101 5,816,534 Avalon GloboCare Corp.*(c) 4,015 4,577 Hotels, Restaurants & Leisure - 3.2% Biodesix, Inc.*(c) 608 8,786 Accel Entertainment, Inc.* 10,052 131,882 Brookdale Senior Living, Inc.* 36,675 247,189 Bally's Corp.* 3,489 202,467 Castle Biosciences, Inc.* 2,912 174,516 Biglari Holdings, Inc., Class A* 16 13,116 Community Health Systems, Inc.* 17,016 242,818 Biglari Holdings, Inc., Class B* 182 29,151 CorVel Corp.* 1,749 217,925 BJ's Restaurants, Inc.* 4,407 243,619 Covetrus, Inc.* 23,204 643,679 Bloomin' Brands, Inc.* 17,484 516,652 Cross Country Healthcare, Inc.* 7,150 111,897 Bluegreen Vacations Holding Ensign Group, Inc. (The) 10,319 858,541 Corp.* 2,470 51,845 Enzo Biochem, Inc.* 8,875 27,335 Boyd Gaming Corp.* 16,234 1,045,307 Exagen, Inc.* 950 13,538 Brinker International, Inc.* 9,055 556,430 Five Star Senior Living, Inc.* 3,771 22,664 Caesars Entertainment, Inc.* 35,963 3,864,224 Fulgent Genetics, Inc.*(c) 2,708 200,582 Carrols Restaurant Group, Inc.* 6,969 41,187 Hanger, Inc.* 7,393 190,961 Century Casinos, Inc.* 5,412 75,714 HealthEquity, Inc.* 16,028 1,332,247 Cheesecake Factory, Inc. (The)* 8,445 496,735 InfuSystem Holdings, Inc.* 2,924 54,094 Churchill Downs, Inc. 7,591 1,514,632 Joint Corp. (The)* 2,646 188,078 Chuy's Holdings, Inc.* 3,919 162,443 LHC Group, Inc.* 6,062 1,193,305 Cracker Barrel Old Country Store, Magellan Health, Inc.* 4,842 456,068 Inc. 4,733 746,489 MEDNAX, Inc.*(c) 14,890 476,182 Dave & Buster's Entertainment, ModivCare, Inc.* 2,416 355,708 Inc.* 8,823 373,036 National HealthCare Corp. 2,508 183,611 Del Taco Restaurants, Inc. 5,956 60,513 National Research Corp. 2,725 130,337 Denny's Corp.* 12,404 218,062 Ontrak, Inc.*(c) 1,593 48,395 Dine Brands Global, Inc.* 3,108 295,105 Option Care Health, Inc.* 17,100 313,614 El Pollo Loco Holdings, Inc.* 3,718 62,685 Owens & Minor, Inc. 14,504 648,474 Everi Holdings, Inc.* 16,400 339,972 Patterson Cos., Inc. 16,943 551,325 Fiesta Restaurant Group, Inc.* 3,596 48,870 Pennant Group, Inc. (The)* 5,090 174,434 GAN Ltd.*(c) 6,389 110,530 PetIQ, Inc.*(c) 4,267 175,374 Golden Entertainment, Inc.* 3,345 142,631 Progenity, Inc.* 3,568 9,241 Hilton Grand Vacations, Inc.* 17,014 778,050 Progyny, Inc.*(c) 5,332 341,461 International Game Technology R1 RCM, Inc.* 21,673 501,730 plc*(c) 19,851 481,585 RadNet, Inc.* 8,689 229,998 Jack in the Box, Inc. 4,582 520,515 Select Medical Holdings Corp. 21,691 869,158 Kura Sushi USA, Inc., Class A* 672 28,883 Sharps Compliance Corp.* 2,849 38,803 Lindblad Expeditions Holdings, Surgery Partners, Inc.* 5,161 302,073 Inc.* 5,142 87,517 Tenet Healthcare Corp.* 20,869 1,396,345 Marriott Vacations Worldwide Tivity Health, Inc.* 8,654 226,735 Corp.* 8,087 1,393,309 Triple-S Management Corp., Class Monarch Casino & Resort, Inc.* 2,523 180,041 B* 4,526 114,508 Nathan's Famous, Inc.(c) 564 36,417 US Physical Therapy, Inc. 2,535 294,973 NEOGAMES SA*(c) 1,116 71,536 Viemed Healthcare, Inc.* 6,974 54,467 Noodles & Co.* 6,211 79,998 16,220,115 Papa John's International, Inc. 6,534 613,869 Health Care Technology - 0.8% Penn National Gaming, Inc.*(c) 31,118 2,550,742 Allscripts Healthcare Solutions, PlayAGS, Inc.* 5,315 54,107 Inc.* 31,395 545,959 RCI Hospitality Holdings, Inc. 1,671 129,503 Computer Programs and Systems, Red Robin Gourmet Burgers, Inc.* 3,090 110,807 Inc. 2,563 82,964 Red Rock Resorts, Inc., Class A* 13,146 588,284 Evolent Health, Inc., Class A*(c) 15,076 292,927 Ruth's Hospitality Group, Inc.* 6,476 156,331 Health Catalyst, Inc.* 6,717 360,636 Scientific Games Corp.* 11,408 827,536 HealthStream, Inc.* 5,148 134,775 SeaWorld Entertainment, Inc.* 10,151 552,519 iCAD, Inc.* 4,016 66,063 Shake Shack, Inc., Class A* 7,004 658,236 Inovalon Holdings, Inc., Class A* 14,911 467,609 Target Hospitality Corp.*(c) 5,853 22,534 Inspire Medical Systems, Inc.* 5,228 1,015,800 Texas Roadhouse, Inc. 13,119 1,321,214 NantHealth, Inc.*(c) 5,388 14,063 Wingstop, Inc. 5,917 844,238 NextGen Healthcare, Inc.* 11,145 183,001 23,431,068 Omnicell, Inc.* 8,483 1,179,137 Household Durables - 1.7% OptimizeRx Corp.* 3,259 160,082 Beazer Homes USA, Inc.* 5,697 135,646 Phreesia, Inc.* 6,725 332,887 Casper Sleep, Inc.* 5,051 46,116 Schrodinger, Inc.* 6,004 421,361 Cavco Industries, Inc.* 1,836 406,252

See accompanying notes to the financial statements.

Ultra Russell2000 Schedule of Portfolio Investments May 31, 2021

Investments Shares Value ($) Investments Shares Value ($) Century Communities, Inc.* 5,838 475,097 Genworth Financial, Inc., Class A* 100,747 423,137 Ethan Allen Interiors, Inc. 4,520 130,492 Goosehead Insurance, Inc., Class A 2,635 236,807 GoPro, Inc., Class A* 24,442 274,239 Greenlight Capital Re Ltd., Class Green Brick Partners, Inc.* 6,125 142,958 A* 5,410 50,042 Hamilton Beach Brands Holding HCI Group, Inc. 1,247 100,458 Co., Class A 1,362 34,322 Heritage Insurance Holdings, Inc. 5,012 41,750 Helen of Troy Ltd.* 4,882 1,027,563 Horace Mann Educators Corp. 8,280 330,124 Hooker Furniture Corp. 2,331 83,566 Independence Holding Co. 925 40,719 Installed Building Products, Inc. 4,565 541,409 Investors Title Co. 255 45,349 iRobot Corp.*(c) 5,512 538,522 James River Group Holdings Ltd. 5,965 208,298 KB Home 17,799 833,171 Kinsale Capital Group, Inc. 4,223 702,961 La-Z-Boy, Inc. 8,895 366,741 MBIA, Inc.* 9,913 99,031 Legacy Housing Corp.*(c) 1,618 30,807 Midwest Holding, Inc.* 190 7,893 LGI Homes, Inc.* 4,449 804,424 National Western Life Group, Inc., Lifetime Brands, Inc. 2,416 36,240 Class A 513 125,695 Lovesac Co. (The)*(c) 1,986 164,878 NI Holdings, Inc.* 1,807 34,441 M/I Homes, Inc.* 5,568 392,655 Palomar Holdings, Inc.* 4,048 295,504 MDC Holdings, Inc. 11,278 653,560 ProAssurance Corp. 10,704 260,642 Meritage Homes Corp.* 7,423 799,234 ProSight Global, Inc.* 1,861 23,821 Purple Innovation, Inc.* 6,479 184,781 RLI Corp. 7,903 833,608 Skyline Champion Corp.* 10,500 531,825 Safety Insurance Group, Inc. 2,852 242,734 Sonos, Inc.* 24,023 888,851 Selective Insurance Group, Inc. 11,807 888,713 Taylor Morrison Home Corp., Class Selectquote, Inc.* 26,087 530,088 A* 25,211 746,750 SiriusPoint Ltd.* 16,811 176,852 TopBuild Corp.* 6,608 1,308,714 State Auto Financial Corp. 3,505 66,244 Tri Pointe Homes, Inc.* 25,202 607,872 Stewart Information Services Corp. 5,260 317,441 Tupperware Brands Corp.* 9,793 251,093 Tiptree, Inc. 4,888 52,644 Universal Electronics, Inc.* 2,659 133,110 Trean Insurance Group, Inc.* 2,349 39,463 VOXX International Corp.*(c) 3,958 59,528 Trupanion, Inc.* 6,014 542,282 12,630,416 United Fire Group, Inc. 4,185 128,270 Household Products - 0.2% United Insurance Holdings Corp. 4,064 22,921 Central Garden & Pet Co.* 1,925 105,740 Universal Insurance Holdings, Inc. 5,430 76,563 Central Garden & Pet Co., Class A* 7,973 402,238 Vericity, Inc.* 368 3,334 Oil-Dri Corp. of America 1,035 37,829 Watford Holdings Ltd.* 3,424 119,635 WD-40 Co. 2,726 667,325 10,597,528 1,213,132 Interactive Media & Services - 0.3% Independent Power and Renewable Electricity Producers - 0.4% Cargurus, Inc.* 17,525 494,555 Brookfield Renewable Corp. 25,697 1,097,776 Cars.com, Inc.* 13,470 196,797 Clearway Energy, Inc., Class A 6,966 175,056 DHI Group, Inc.* 9,590 30,688 Clearway Energy, Inc., Class C 16,370 439,207 Eventbrite, Inc., Class A*(c) 12,838 260,611 Ormat Technologies, Inc.(c) 8,744 603,773 EverQuote, Inc., Class A* 2,800 88,284 Sunnova Energy International, Liberty TripAdvisor Holdings, Inc., Inc.* 11,175 326,310 Class A* 14,516 69,096 2,642,122 MediaAlpha, Inc., Class A* 3,555 150,448 Industrial Conglomerates - 0.0%(e) QuinStreet, Inc.* 9,602 173,892 Raven Industries, Inc. 7,117 314,073 TrueCar, Inc.* 20,549 121,445 Yelp, Inc.* 14,390 577,183 Insurance - 1.4% 2,162,999 Ambac Financial Group, Inc.* 9,055 136,640 Internet & Direct Marketing Retail - 0.5% American Equity Investment Life 1-800-Flowers.com, Inc., Class A* 5,105 155,549 Holding Co. 18,122 552,721 CarParts.com, Inc.* 6,818 111,406 AMERISAFE, Inc. 3,827 250,783 Duluth Holdings, Inc., Class B*(c) 2,211 35,597 Argo Group International Holdings Groupon, Inc.* 4,645 219,476 Ltd. 6,480 347,587 Lands' End, Inc.* 2,324 59,518 BRP Group, Inc., Class A* 8,477 208,365 Liquidity Services, Inc.* 5,267 125,934 Citizens, Inc.*(c) 9,898 51,668 Overstock.com, Inc.*(c) 8,520 727,864 CNO Financial Group, Inc. 26,956 715,951 PetMed Express, Inc.(c) 3,906 112,884 Crawford & Co., Class A 3,246 31,389 Quotient Technology, Inc.* 17,354 204,083 Donegal Group, Inc., Class A 2,250 34,402 RealReal, Inc. (The)* 12,696 221,799 eHealth, Inc.* 5,147 335,842 Shutterstock, Inc. 4,369 396,487 Employers Holdings, Inc. 5,748 242,566 Stamps.com, Inc.* 3,396 637,361 Enstar Group Ltd.* 2,404 610,352 Stitch Fix, Inc., Class A* 11,803 630,988 FedNat Holding Co. 2,463 11,798

See accompanying notes to the financial statements.

Ultra Russell2000 Schedule of Portfolio Investments May 31, 2021

Investments Shares Value ($) Investments Shares Value ($) Waitr Holdings, Inc.*(c) 16,719 33,940 Medpace Holdings, Inc.* 5,514 921,169 3,672,886 NanoString Technologies, Inc.* 8,813 489,033 IT Services - 1.0% NeoGenomics, Inc.* 21,700 890,351 BM Technologies, Inc.*(c) 51 655 Pacific Biosciences of California, Brightcove, Inc.* 7,879 114,246 Inc.* 36,420 985,161 Cardtronics plc, Class A* 7,187 279,790 Personalis, Inc.* 5,261 118,320 Cass Information Systems, Inc. 2,840 129,589 Quanterix Corp.* 4,806 247,461 Conduent, Inc.* 32,948 249,746 Seer, Inc.*(c) 2,891 85,516 Contra BmTechnologies* 645 8,288 4,510,220 CSG Systems International, Inc. 6,462 284,586 Machinery - 2.9% EVERTEC, Inc. 12,024 523,405 Agrify Corp.* 1,250 11,713 Evo Payments, Inc., Class A* 9,122 261,254 Alamo Group, Inc. 1,974 304,351 ExlService Holdings, Inc.* 6,608 673,884 Albany International Corp., Class A 6,141 548,698 GreenSky, Inc., Class A* 12,614 73,918 Altra Industrial Motion Corp. 12,882 846,219 Grid Dynamics Holdings, Inc.* 5,438 83,582 Astec Industries, Inc. 4,485 307,357 GTT Communications, Inc.* 6,367 9,487 Barnes Group, Inc. 9,385 501,347 Hackett Group, Inc. (The) 4,996 88,979 Blue Bird Corp.* 3,105 81,227 I3 Verticals, Inc., Class A*(c) 3,700 114,959 Chart Industries, Inc.* 7,208 1,051,936 IBEX Holdings Ltd.* 1,188 25,827 CIRCOR International, Inc.* 3,985 149,956 Information Services Group, Inc.* 7,179 42,069 Columbus McKinnon Corp. 4,681 237,327 International Money Express, Inc.* 5,716 87,283 Douglas Dynamics, Inc. 4,506 197,588 Limelight Networks, Inc.*(c) 24,048 74,549 Eastern Co. (The) 1,075 34,271 LiveRamp Holdings, Inc.* 13,007 653,472 Energy Recovery, Inc.*(c) 8,016 152,384 Maximus, Inc. 12,205 1,131,037 Enerpac Tool Group Corp. 11,993 328,608 MoneyGram International, Inc.* 12,384 121,363 EnPro Industries, Inc. 4,134 380,287 Paysign, Inc.*(c) 6,260 20,721 ESCO Technologies, Inc. 5,114 483,989 Perficient, Inc.* 6,506 465,765 Evoqua Water Technologies Corp.* 23,042 717,067 PFSweb, Inc.* 3,176 23,915 ExOne Co. (The)*(c) 2,870 61,188 Priority Technology Holdings, Federal Signal Corp. 11,951 507,678 Inc.* 1,525 11,819 Franklin Electric Co., Inc. 9,190 770,949 Rackspace Technology, Inc.* 6,884 138,919 Gencor Industries, Inc.* 2,089 26,238 Repay Holdings Corp.* 13,304 302,134 Gorman-Rupp Co. (The) 3,517 126,542 ServiceSource International, Inc.* 17,622 21,851 Graham Corp. 1,927 28,308 StarTek, Inc.* 3,484 22,054 Greenbrier Cos., Inc. (The) 6,437 285,867 Sykes Enterprises, Inc.* 7,625 319,640 Helios Technologies, Inc. 6,207 441,007 TTEC Holdings, Inc. 3,624 392,878 Hillenbrand, Inc. 14,797 674,743 Tucows, Inc., Class A*(c) 1,868 145,891 Hurco Cos., Inc. 1,244 42,781 Unisys Corp.* 12,358 317,724 Hydrofarm Holdings Group, Inc.* 1,923 119,784 Verra Mobility Corp.* 26,702 380,503 Hyster-Yale Materials Handling, 7,595,782 Inc. 1,978 149,517 Leisure Products - 0.6% John Bean Technologies Corp. 6,254 900,764 Acushnet Holdings Corp. 6,841 363,941 Kadant, Inc. 2,283 383,590 American Outdoor Brands, Inc.* 2,761 88,435 Kennametal, Inc. 16,589 622,253 Callaway Golf Co.* 18,652 688,632 L B Foster Co., Class A* 2,017 36,286 Clarus Corp. 4,832 114,470 Lindsay Corp. 2,163 356,095 Escalade, Inc.(c) 2,060 50,367 Luxfer Holdings plc 5,495 125,616 Johnson Outdoors, Inc., Class A 1,047 127,933 Lydall, Inc.* 3,418 124,347 Malibu Boats, Inc., Class A* 4,145 325,051 Manitowoc Co., Inc. (The)* 6,763 174,621 Marine Products Corp. 1,438 23,353 Mayville Engineering Co., Inc.* 1,467 28,518 MasterCraft Boat Holdings, Inc.* 3,700 102,712 Meritor, Inc.* 13,853 360,178 Nautilus, Inc.*(c) 6,004 108,132 Miller Industries, Inc. 2,218 92,823 Smith & Wesson Brands, Inc. 11,062 235,178 Mueller Industries, Inc. 11,167 518,484 Sturm Ruger & Co., Inc. 3,365 265,633 Mueller Water Products, Inc., Class Vista Outdoor, Inc.* 11,651 507,867 A 31,304 452,969 YETI Holdings, Inc.*(c) 15,977 1,399,585 Navistar International Corp.* 9,970 440,973 4,401,289 NN, Inc.* 8,379 62,926 Life Sciences Tools & Services - 0.6% Omega Flex, Inc. 576 84,701 Champions Oncology, Inc.* 1,350 12,703 Park-Ohio Holdings Corp. 1,743 64,299 ChromaDex Corp.*(c) 8,233 68,334 Proto Labs, Inc.* 5,339 477,253 Codexis, Inc.*(c) 11,525 236,262 RBC Bearings, Inc.* 4,919 963,091 Fluidigm Corp.*(c) 14,776 85,701 REV Group, Inc.* 5,485 102,679 Harvard Bioscience, Inc.* 7,644 53,508 Rexnord Corp. 24,052 1,201,878 Luminex Corp. 8,585 316,701 Shyft Group, Inc. (The) 6,888 268,494 SPX Corp.* 8,585 537,679

See accompanying notes to the financial statements.

Ultra Russell2000 Schedule of Portfolio Investments May 31, 2021

Investments Shares Value ($) Investments Shares Value ($) SPX FLOW, Inc. 8,495 583,012 Gold Resource Corp. 13,390 37,224 Standex International Corp. 2,452 244,317 Haynes International, Inc. 2,492 86,722 Tennant Co. 3,652 302,166 Hecla Mining Co. 104,226 938,034 Terex Corp. 13,446 704,167 Kaiser Aluminum Corp. 3,140 406,285 TriMas Corp.* 8,208 266,103 Materion Corp. 4,052 319,500 Wabash National Corp. 10,563 168,480 Novagold Resources, Inc.* 47,462 486,960 Watts Water Technologies, Inc., Olympic Steel, Inc. 1,825 65,244 Class A 5,470 743,373 Ryerson Holding Corp.* 3,197 52,942 Welbilt, Inc.* 26,040 643,448 Schnitzer Steel Industries, Inc., 21,604,510 Class A 5,222 284,495 Marine - 0.1% SunCoke Energy, Inc. 16,583 124,870 Costamare, Inc. 10,094 108,308 TimkenSteel Corp.* 8,981 136,062 Eagle Bulk Shipping, Inc.*(c) 1,293 61,198 United States Steel Corp.(c) 52,103 1,351,031 Eneti, Inc. 1,680 33,785 Warrior Met Coal, Inc. 10,271 187,959 Genco Shipping & Trading Ltd. 3,420 54,036 Worthington Industries, Inc. 6,973 462,798 Matson, Inc. 8,544 552,369 12,001,399 Pangaea Logistics Solutions Ltd. 2,115 8,566 Mortgage Real Estate Investment Trusts (REITs) - 1.0% Safe Bulkers, Inc.* 10,365 38,247 Apollo Commercial Real Estate 856,509 Finance, Inc. 28,155 440,626 Media - 0.7% Arbor Realty Trust, Inc. 23,052 420,468 AMC Networks, Inc., Class A* 5,676 304,688 Ares Commercial Real Estate Corp. 6,143 93,189 Boston Omaha Corp., Class A* 2,628 80,574 Arlington Asset Investment Corp., Cardlytics, Inc.* 5,963 635,358 Class A* 6,617 26,931 comScore, Inc.* 12,097 48,388 ARMOUR Residential REIT, Inc. 12,784 153,280 Daily Journal Corp.* 247 78,917 Blackstone Mortgage Trust, Inc., Emerald Holding, Inc.*(c) 4,880 27,572 Class A 27,822 891,139 Entercom Communications Corp.* 23,420 101,877 Broadmark Realty Capital, Inc. 25,693 264,381 Entravision Communications Corp., Capstead Mortgage Corp. 19,036 122,782 Class A 11,750 54,872 Cherry Hill Mortgage Investment EW Scripps Co. (The), Class A 11,198 237,510 Corp. 3,036 29,814 Fluent, Inc.* 8,352 24,137 Chimera Investment Corp. 38,331 541,617 Gannett Co., Inc.*(c) 26,578 136,345 Colony Credit Real Estate, Inc. 16,790 158,666 Gray Television, Inc. 17,340 403,328 Dynex Capital, Inc. 5,087 99,451 Hemisphere Media Group, Inc.* 3,271 40,462 Ellington Financial, Inc. 8,240 155,571 iHeartMedia, Inc., Class A* 12,203 283,232 Ellington Residential Mortgage Loral Space & Communications, REIT(c) 1,800 22,086 Inc.(c) 2,562 96,972 Granite Point Mortgage Trust, Inc. 10,905 156,814 Magnite, Inc.* 22,072 655,538 Great Ajax Corp.(c) 4,130 52,038 Meredith Corp.* 7,920 266,746 Hannon Armstrong Sustainable MSG Networks, Inc., Class A* 6,041 93,152 Infrastructure Capital, Inc.(c) 14,669 721,861 National CineMedia, Inc. 12,433 60,176 Invesco Mortgage Capital, Inc.(c) 46,435 157,879 Saga Communications, Inc., Class KKR Real Estate Finance Trust, A* 754 17,802 Inc. 5,706 121,994 Scholastic Corp. 5,802 195,411 Ladder Capital Corp. 21,111 246,999 Sinclair Broadcast Group, Inc., MFA Financial, Inc. 90,637 396,084 Class A 8,819 297,112 New York Mortgage Trust, Inc. 75,661 341,988 TechTarget, Inc.* 4,752 334,113 Orchid Island Capital, Inc.(c) 17,076 93,406 TEGNA, Inc. 43,838 850,019 PennyMac Mortgage Investment WideOpenWest, Inc.* 10,449 174,185 Trust 19,590 383,964 5,498,486 Ready Capital Corp. 11,661 177,480 Metals & Mining - 1.6% Redwood Trust, Inc. 22,378 249,067 Alcoa Corp.* 37,414 1,484,213 TPG RE Finance Trust, Inc. 11,982 156,245 Allegheny Technologies, Inc.* 25,340 620,577 Two Harbors Investment Corp. 54,705 393,329 Arconic Corp.* 19,877 718,951 Western Asset Mortgage Capital Caledonia Mining Corp. plc(c) 2,345 34,518 Corp.(c) 11,888 39,349 Carpenter Technology Corp. 9,482 454,377 7,108,498 Century Aluminum Co.* 10,090 137,325 Multiline Retail - 0.3% Cleveland-Cliffs, Inc.*(c) 89,651 1,803,778 Big Lots, Inc. 7,413 451,748 Coeur Mining, Inc.* 48,355 502,892 Dillard's, Inc., Class A(c) 1,413 186,389 Commercial Metals Co. 23,751 747,444 Franchise Group, Inc. 4,357 160,948 Compass Minerals International, Macy's, Inc.* 62,323 1,139,264 Inc. 6,820 476,718 1,938,349 Gatos Silver, Inc.* 4,723 80,480

See accompanying notes to the financial statements.

Ultra Russell2000 Schedule of Portfolio Investments May 31, 2021

Investments Shares Value ($) Investments Shares Value ($) Multi-Utilities - 0.3% Paper & Forest Products - 0.4% Avista Corp. 13,734 622,562 Clearwater Paper Corp.*(c) 3,214 91,695 Black Hills Corp. 12,564 826,586 Domtar Corp.* 10,979 595,391 NorthWestern Corp. 10,140 642,369 Glatfelter Corp. 8,750 129,150 Unitil Corp. 2,947 161,643 Louisiana-Pacific Corp. 21,947 1,475,058 2,253,160 Neenah, Inc. 3,351 177,368 Oil, Gas & Consumable Fuels - 1.6% Schweitzer-Mauduit International, Adams Resources & Energy, Inc. 444 12,041 Inc. 6,199 253,601 Antero Resources Corp.* 48,478 625,851 Verso Corp., Class A 6,254 106,381 Arch Resources, Inc.* 3,018 172,237 2,828,644 Ardmore Shipping Corp.* 6,700 30,083 Personal Products - 0.3% Berry Corp. 13,522 86,000 BellRing Brands, Inc., Class A* 7,950 228,006 Bonanza Creek Energy, Inc.* 4,151 178,327 Edgewell Personal Care Co. 10,885 493,961 Brigham Minerals, Inc., Class A 8,470 153,646 elf Beauty, Inc.* 9,121 255,388 Clean Energy Fuels Corp.* 25,950 205,524 Inter Parfums, Inc. 3,548 271,351 CNX Resources Corp.* 43,544 593,069 Lifevantage Corp.* 2,709 21,591 Comstock Resources, Inc.* 4,877 27,457 Medifast, Inc. 2,254 748,891 CONSOL Energy, Inc.* 5,975 91,656 Nature's Sunshine Products, Inc. 1,768 36,226 Contango Oil & Gas Co.* 22,908 99,879 Revlon, Inc., Class A*(c) 1,371 17,563 CVR Energy, Inc.* 5,909 122,612 USANA Health Sciences, Inc.* 2,312 244,471 Delek US Holdings, Inc. 12,477 278,112 Veru, Inc.* 10,919 96,415 DHT Holdings, Inc. 22,265 142,496 2,413,863 Diamond S Shipping, Inc.* 5,464 58,410 Pharmaceuticals - 1.1% Dorian LPG Ltd.* 7,365 104,657 AcelRx Pharmaceuticals, Inc.*(c) 20,051 27,871 Earthstone Energy, Inc., Class A* 4,706 45,225 Aerie Pharmaceuticals, Inc.*(c) 7,323 119,292 Energy Fuels, Inc.* 26,616 172,738 Agile Therapeutics, Inc.*(c) 13,566 21,841 Evolution Petroleum Corp.(c) 6,200 22,878 Amneal Pharmaceuticals, Inc.* 19,808 112,113 Falcon Minerals Corp. 7,625 35,532 Amphastar Pharmaceuticals, Inc.* 7,278 137,700 Frontline Ltd.(c) 23,557 200,706 Angion Biomedica Corp.*(c) 1,157 17,864 Golar LNG Ltd.* 20,446 259,664 ANI Pharmaceuticals, Inc.*(c) 1,876 64,441 Goodrich Petroleum Corp.* 1,844 20,413 Antares Pharma, Inc.*(c) 32,821 130,299 Green Plains, Inc.*(c) 6,822 217,554 Aquestive Therapeutics, Inc.*(c) 3,967 14,718 International Seaways, Inc. 4,798 96,152 Arvinas, Inc.* 7,221 525,256 Kosmos Energy Ltd.* 80,509 256,019 Atea Pharmaceuticals, Inc.* 2,895 59,116 Magnolia Oil & Gas Corp., Class Athira Pharma, Inc.*(c) 2,769 55,214 A* 24,755 319,835 Avenue Therapeutics, Inc.*(c) 1,332 6,607 Matador Resources Co. 22,054 675,735 Axsome Therapeutics, Inc.*(c) 5,533 335,908 NACCO Industries, Inc., Class A 746 19,090 Aytu BioPharma, Inc.*(c) 4,369 22,195 NextDecade Corp.*(c) 4,202 8,110 BioDelivery Sciences International, Nordic American Tankers Ltd. 29,435 102,434 Inc.* 17,920 63,258 Overseas Shipholding Group, Inc., Cara Therapeutics, Inc.*(c) 8,220 111,710 Class A* 13,187 30,462 Cassava Sciences, Inc.*(c) 6,528 351,990 Ovintiv, Inc. 52,284 1,392,323 Cerecor, Inc.* 8,592 22,683 Par Pacific Holdings, Inc.* 7,984 111,137 Chiasma, Inc.*(c) 10,004 42,317 PBF Energy, Inc., Class A* 19,283 311,228 Collegium Pharmaceutical, Inc.* 6,857 163,814 PDC Energy, Inc.* 19,925 841,233 Corcept Therapeutics, Inc.* 19,429 419,666 Peabody Energy Corp.* 12,536 83,114 CorMedix, Inc.*(c) 6,503 47,017 Penn Virginia Corp.* 3,050 58,804 Cymabay Therapeutics, Inc.*(c) 13,832 58,509 PrimeEnergy Resources Corp.* 104 4,293 Durect Corp.* 44,537 73,486 Range Resources Corp.* 42,720 579,283 Eloxx Pharmaceuticals, Inc.*(c) 5,325 8,307 Renewable Energy Group, Inc.* 8,611 525,874 Endo International plc* 45,232 265,512 REX American Resources Corp.* 1,068 102,560 Eton Pharmaceuticals, Inc.*(c) 3,411 24,082 Scorpio Tankers, Inc.(c) 10,098 225,993 Evofem Biosciences, Inc.* 15,316 13,172 SFL Corp. Ltd. 18,887 163,561 Evolus, Inc.*(c) 4,346 47,024 SM Energy Co. 22,792 453,561 Fulcrum Therapeutics, Inc.* 3,402 30,380 Southwestern Energy Co.* 129,256 668,253 Graybug Vision, Inc.*(c) 1,306 5,198 Talos Energy, Inc.*(c) 2,742 38,882 Harmony Biosciences Holdings, Tellurian, Inc.*(c) 33,571 146,370 Inc.* 1,245 39,790 Uranium Energy Corp.*(c) 38,937 121,873 Harrow Health, Inc.* 4,467 41,096 W&T Offshore, Inc.*(c) 18,830 70,424 IMARA, Inc.*(c) 1,530 11,123 Whiting Petroleum Corp.* 246 11,264 Innoviva, Inc.* 12,670 170,411 World Fuel Services Corp. 12,480 383,510 Intra-Cellular Therapies, Inc.* 13,250 522,182 11,758,144 Kala Pharmaceuticals, Inc.*(c) 7,902 44,646 Kaleido Biosciences, Inc.*(c) 2,731 19,609

See accompanying notes to the financial statements.

Ultra Russell2000 Schedule of Portfolio Investments May 31, 2021

Investments Shares Value ($) Investments Shares Value ($) Landos Biopharma, Inc.* 1,256 13,791 Red Violet, Inc.*(c) 1,354 29,761 Lannett Co., Inc.* 6,557 28,195 Resources Connection, Inc. 6,162 89,842 Liquidia Corp.*(c) 5,414 16,296 TriNet Group, Inc.* 8,226 619,747 Lyra Therapeutics, Inc.*(c) 1,356 9,736 TrueBlue, Inc.* 7,013 190,263 Marinus Pharmaceuticals, Inc.*(c) 5,815 97,808 Upwork, Inc.* 18,524 871,925 NGM Biopharmaceuticals, Inc.*(c) 5,135 77,333 Willdan Group, Inc.* 2,056 74,756 Ocular Therapeutix, Inc.* 14,556 211,935 8,940,078 Odonate Therapeutics, Inc.*(c) 3,136 10,851 Real Estate Management & Development - 0.6% Omeros Corp.*(c) 11,801 179,257 Alset EHome International, Inc.*(c) 442 1,799 Optinose, Inc.*(c) 6,981 22,269 Altisource Portfolio Solutions SA* 917 6,263 Osmotica Pharmaceuticals plc*(c) 2,537 7,383 American Realty Investors, Inc.* 221 2,354 Pacira BioSciences, Inc.* 8,515 516,605 Cushman & Wakefield plc*(c) 22,072 419,589 Paratek Pharmaceuticals, Inc.*(c) 8,709 71,588 eXp World Holdings, Inc.*(c) 9,930 320,342 Phathom Pharmaceuticals, Inc.* 2,315 81,835 Fathom Holdings, Inc.*(c) 952 31,435 Phibro Animal Health Corp., Class Forestar Group, Inc.* 3,330 76,623 A 4,072 114,790 FRP Holdings, Inc.* 1,295 74,242 Pliant Therapeutics, Inc.*(c) 4,798 144,228 Kennedy-Wilson Holdings, Inc. 24,117 478,481 Prestige Consumer Healthcare, Marcus & Millichap, Inc.* 4,650 182,745 Inc.* 10,050 501,193 Maui Land & Pineapple Co., Inc.* 1,344 14,327 Provention Bio, Inc.*(c) 10,595 80,628 Newmark Group, Inc., Class A 28,939 373,313 Recro Pharma, Inc.* 3,872 8,867 Rafael Holdings, Inc., Class B* 1,909 98,695 Relmada Therapeutics, Inc.* 2,930 101,349 RE/MAX Holdings, Inc., Class A 3,640 127,436 Revance Therapeutics, Inc.* 12,567 372,109 Realogy Holdings Corp.* 22,898 405,524 Satsuma Pharmaceuticals, Inc.* 1,837 9,589 Redfin Corp.*(c) 19,915 1,175,583 scPharmaceuticals, Inc.* 1,400 7,924 RMR Group, Inc. (The), Class A 3,037 118,808 SIGA Technologies, Inc.* 10,408 73,376 St Joe Co. (The) 6,564 306,998 Strongbridge Biopharma plc* 8,795 22,163 Stratus Properties, Inc.* 1,172 31,843 Supernus Pharmaceuticals, Inc.*(c) 9,742 290,799 Tejon Ranch Co.*(c) 4,179 62,518 Tarsus Pharmaceuticals, Inc.*(c) 1,244 41,450 Transcontinental Realty Investors, Terns Pharmaceuticals, Inc.*(c) 1,741 29,788 Inc.*(c) 267 7,770 TherapeuticsMD, Inc.*(c) 67,349 81,492 4,316,688 Theravance Biopharma, Inc.*(c) 9,314 160,946 Road & Rail - 0.5% Tricida, Inc.* 5,646 26,028 ArcBest Corp. 5,030 391,535 Verrica Pharmaceuticals, Inc.*(c) 2,485 27,981 Avis Budget Group, Inc.* 10,513 923,252 VYNE Therapeutics, Inc.*(c) 7,252 28,645 Covenant Logistics Group, Inc., WaVe Life Sciences Ltd.* 6,549 44,795 Class A* 2,329 52,426 Xeris Pharmaceuticals, Inc.*(c) 9,183 28,651 Daseke, Inc.* 9,094 65,841 Zogenix, Inc.* 11,098 194,770 Heartland Express, Inc. 9,723 176,472 7,983,860 Marten Transport Ltd. 11,821 201,666 Professional Services - 1.2% PAM Transportation Services, Inc.* 357 20,720 Acacia Research Corp.*(c) 9,498 50,814 Saia, Inc.* 5,247 1,207,650 Akerna Corp.*(c) 3,967 17,376 Universal Logistics Holdings, ASGN, Inc.* 10,166 1,048,013 Inc.(c) 1,536 38,400 Barrett Business Services, Inc. 1,514 112,748 US Xpress Enterprises, Inc., Class BGSF, Inc. 1,959 23,253 A* 4,423 49,715 CBIZ, Inc.* 10,187 338,310 Werner Enterprises, Inc. 11,968 574,344 CRA International, Inc. 1,505 123,199 3,702,021 Exponent, Inc. 10,257 935,746 Semiconductors & Semiconductor Equipment - 2.2% Forrester Research, Inc.* 2,210 94,831 Advanced Energy Industries, Inc. 7,587 773,950 Franklin Covey Co.* 2,534 78,554 Alpha & Omega Semiconductor GP Strategies Corp.* 2,606 46,100 Ltd.* 4,215 135,765 Heidrick & Struggles International, Ambarella, Inc.* 6,768 679,372 Inc. 3,828 164,757 Amkor Technology, Inc. 19,933 420,586 Huron Consulting Group, Inc.* 4,521 247,344 Atomera, Inc.*(c) 3,618 63,496 ICF International, Inc. 3,634 319,429 Axcelis Technologies, Inc.* 6,646 275,410 Insperity, Inc. 7,170 661,002 AXT, Inc.*(c) 7,884 80,259 KBR, Inc. 28,445 1,158,849 Brooks Automation, Inc. 14,505 1,480,815 Kelly Services, Inc., Class A* 6,717 172,425 CEVA, Inc.* 4,385 196,755 Kforce, Inc. 3,939 247,015 CMC Materials, Inc. 5,799 894,960 Korn Ferry 10,734 702,111 Cohu, Inc.* 8,406 312,871 ManTech International Corp., Class CyberOptics Corp.* 1,421 42,346 A 5,422 471,768 Diodes, Inc.* 8,556 647,433 Mastech Digital, Inc.* 791 12,466 DSP Group, Inc.* 4,433 69,687 Mistras Group, Inc.* 3,619 37,674

See accompanying notes to the financial statements.

Ultra Russell2000 Schedule of Portfolio Investments May 31, 2021

Investments Shares Value ($) Investments Shares Value ($) FormFactor, Inc.* 15,418 543,484 MicroStrategy, Inc., Class A* 1,451 681,970 GSI Technology, Inc.* 3,302 20,638 Mimecast Ltd.* 11,604 580,084 Ichor Holdings Ltd.* 5,403 303,973 Mitek Systems, Inc.* 8,291 140,615 Impinj, Inc.* 3,426 178,323 Model N, Inc.* 6,962 248,335 Lattice Semiconductor Corp.* 27,154 1,441,063 ON24, Inc.* 1,729 55,639 MACOM Technology Solutions OneSpan, Inc.* 6,668 174,368 Holdings, Inc.* 9,616 569,267 Park City Group, Inc.*(c) 2,462 14,747 Maxeon Solar Technologies Ping Identity Holding Corp.*(c) 7,408 178,607 Ltd.*(c) 2,123 33,161 Progress Software Corp. 8,848 394,355 MaxLinear, Inc.* 13,695 520,684 PROS Holdings, Inc.* 8,009 355,359 NeoPhotonics Corp.* 9,911 101,191 Q2 Holdings, Inc.* 10,055 954,521 NVE Corp. 950 66,367 QAD, Inc., Class A 2,341 167,288 Onto Innovation, Inc.* 9,476 680,093 Qualys, Inc.* 6,797 657,134 PDF Solutions, Inc.* 5,771 100,646 Rapid7, Inc.*(c) 10,323 863,519 Photronics, Inc.* 12,392 167,788 Rimini Street, Inc.*(c) 4,590 29,881 Pixelworks, Inc.* 9,097 31,749 Sailpoint Technologies Holdings, Power Integrations, Inc. 11,774 967,705 Inc.* 17,581 818,044 Rambus, Inc.* 22,647 442,975 Sapiens International Corp. NV 5,479 157,302 Semtech Corp.* 12,898 812,574 SeaChange International, Inc.*(c) 6,095 7,070 Silicon Laboratories, Inc.* 8,656 1,182,063 SecureWorks Corp., Class A* 1,782 25,091 SiTime Corp.* 2,334 229,502 ShotSpotter, Inc.* 1,607 65,421 SMART Global Holdings, Inc.* 2,919 138,361 Smith Micro Software, Inc.* 6,838 36,857 SunPower Corp.*(c) 15,278 357,352 Sprout Social, Inc., Class A* 5,566 386,392 Synaptics, Inc.* 6,978 881,531 SPS Commerce, Inc.* 7,094 665,843 Ultra Clean Holdings, Inc.* 8,008 451,091 Sumo Logic, Inc.* 2,876 54,069 Veeco Instruments, Inc.* 9,715 231,411 SVMK, Inc.* 24,527 477,050 16,526,697 Synchronoss Technologies, Inc.* 7,888 22,954 Software - 3.8% Telos Corp.* 3,291 108,208 8x8, Inc.* 21,290 501,380 Tenable Holdings, Inc.* 14,182 592,808 A10 Networks, Inc.* 11,969 116,458 Upland Software, Inc.* 5,309 217,616 ACI Worldwide, Inc.* 22,873 875,121 Varonis Systems, Inc.* 20,255 978,317 Agilysys, Inc.* 3,810 193,510 Verint Systems, Inc.* 12,969 598,001 Alarm.com Holdings, Inc.* 9,492 777,205 Veritone, Inc.* 5,277 101,160 Altair Engineering, Inc., Class Viant Technology, Inc., Class A*(c) 8,671 584,165 A*(c) 2,140 62,467 American Software, Inc., Class VirnetX Holding Corp.*(c) 12,645 57,914 A(c) 6,055 121,827 Workiva, Inc.* 7,916 751,228 Appfolio, Inc., Class A* 3,258 439,472 Xperi Holding Corp. 20,863 446,885 Appian Corp.*(c) 7,095 641,956 Yext, Inc.* 21,017 304,116 Asure Software, Inc.* 3,233 27,319 Zix Corp.* 10,912 76,057 Avaya Holdings Corp.* 16,707 479,157 Zuora, Inc., Class A* 20,620 318,991 Benefitfocus, Inc.* 5,794 85,693 28,173,528 Blackbaud, Inc.* 9,715 686,753 Specialty Retail - 2.8% Blackline, Inc.* 10,177 1,058,103 Aaron's Co., Inc. (The) 6,731 242,114 Bottomline Technologies DE, Inc.* 8,860 331,187 Abercrombie & Fitch Co., Class A* 12,445 531,402 Box, Inc., Class A* 28,635 667,482 Academy Sports & Outdoors, Cerence, Inc.* 7,594 722,417 Inc.*(c) 5,910 215,892 ChannelAdvisor Corp.* 5,569 132,152 American Eagle Outfitters, Inc.(c) 30,118 1,067,081 Cloudera, Inc.* 40,906 526,051 America's Car-Mart, Inc.* 1,227 201,707 Cognyte Software Ltd.* 12,969 333,822 Asbury Automotive Group, Inc.* 3,848 763,020 CommVault Systems, Inc.* 8,440 642,875 At Home Group, Inc.* 10,833 406,671 Cornerstone OnDemand, Inc.* 12,256 538,896 Bed Bath & Beyond, Inc.*(c) 24,262 679,093 Digimarc Corp.*(c) 2,386 82,961 Boot Barn Holdings, Inc.* 5,703 435,652 Digital Turbine, Inc.* 16,820 1,112,979 Buckle, Inc. (The) 5,788 243,791 Domo, Inc., Class B* 5,300 352,450 Caleres, Inc. 7,219 181,053 Ebix, Inc.(c) 5,348 146,535 Camping World Holdings, Inc., eGain Corp.* 4,218 42,349 Class A 6,552 290,843 Envestnet, Inc.* 10,600 762,882 Cato Corp. (The), Class A* 4,041 62,474 GTY Technology Holdings, Chico's FAS, Inc.* 23,738 110,382 Inc.*(c) 9,177 55,062 Children's Place, Inc. (The)* 2,827 262,883 Intelligent Systems Corp.*(c) 1,498 48,940 Citi Trends, Inc.* 1,898 158,179 InterDigital, Inc. 6,148 496,635 Conn's, Inc.* 3,486 80,840 J2 Global, Inc.* 8,661 1,078,554 Container Store Group, Inc. LivePerson, Inc.*(c) 12,464 684,897 (The)*(c) 6,336 85,916

See accompanying notes to the financial statements.

Ultra Russell2000 Schedule of Portfolio Investments May 31, 2021

Investments Shares Value ($) Investments Shares Value ($) Designer Brands, Inc., Class A* 12,311 215,319 Bridgewater Bancshares, Inc.* 4,319 74,978 Envela Corp.* 1,544 6,608 Capitol Federal Financial, Inc. 26,021 336,712 Express, Inc.* 12,698 54,474 Columbia Financial, Inc.* 9,393 166,914 GameStop Corp., Class A*(c) 11,421 2,535,462 ESSA Bancorp, Inc. 1,795 28,451 Genesco, Inc.* 2,888 158,840 Essent Group Ltd. 22,023 1,053,580 Group 1 Automotive, Inc. 3,477 554,512 Federal Agricultural Mortgage GrowGeneration Corp.*(c) 8,124 360,787 Corp., Class C 1,816 184,251 Guess?, Inc. 7,939 233,168 Flagstar Bancorp, Inc. 9,607 440,001 Haverty Furniture Cos., Inc. 3,259 149,719 FS Bancorp, Inc. 748 53,243 Hibbett Sports, Inc.* 3,295 279,284 Greene County Bancorp, Inc.(c) 611 17,511 Lithia Motors, Inc., Class A 5,809 2,044,710 Hingham Institution For Savings Lumber Liquidators Holdings, Inc.* 5,704 129,937 (The) 279 80,980 MarineMax, Inc.* 4,240 218,063 Home Bancorp, Inc.(c) 1,493 58,003 Monro, Inc. 6,587 410,634 Home Point Capital, Inc.*(c) 1,459 9,323 Murphy USA, Inc. 5,142 693,193 HomeStreet, Inc. 4,262 191,875 National Vision Holdings, Inc.* 16,065 797,949 Kearny Financial Corp. 15,007 196,742 ODP Corp. (The)* 10,562 461,982 Luther Burbank Corp. 3,662 44,457 OneWater Marine, Inc., Class A* 2,035 100,203 Merchants Bancorp 1,743 74,862 Rent-A-Center, Inc. 9,685 598,630 Meridian Bancorp, Inc. 9,345 206,057 RH* 3,148 2,018,025 Meta Financial Group, Inc. 6,199 328,609 Sally Beauty Holdings, Inc.* 22,530 491,379 MMA Capital Holdings, Inc.* 945 25,572 Shoe Carnival, Inc. 1,856 125,299 Mr Cooper Group, Inc.* 15,098 522,240 Signet Jewelers Ltd.* 10,415 630,941 NMI Holdings, Inc., Class A* 16,421 397,224 Sleep Number Corp.* 5,411 603,272 Northfield Bancorp, Inc. 9,362 158,499 Sonic Automotive, Inc., Class A 4,663 224,897 Northwest Bancshares, Inc. 23,407 331,443 Sportsman's Warehouse Holdings, Oconee Federal Financial Corp. 205 5,188 Inc.* 8,544 152,083 OP Bancorp 2,413 25,023 Tilly's, Inc., Class A* 4,429 60,500 PCSB Financial Corp. 2,805 51,556 Urban Outfitters, Inc.* 13,777 539,507 PDL Community Bancorp* 1,479 20,706 Winmark Corp. 600 117,492 PennyMac Financial Services, Inc. 8,298 519,538 Zumiez, Inc.* 4,177 183,036 Pioneer Bancorp, Inc.*(c) 2,320 28,327 21,168,898 Premier Financial Corp. 7,394 225,517 Technology Hardware, Storage & Peripherals - 0.2% Provident Bancorp, Inc.(c) 3,310 55,873 3D Systems Corp.* 24,143 710,046 Provident Financial Holdings, Inc. 1,194 20,775 Avid Technology, Inc.* 6,307 194,760 Provident Financial Services, Inc. 14,165 357,808 Corsair Gaming, Inc.*(c) 4,564 142,488 Prudential Bancorp, Inc. 1,380 19,141 Diebold Nixdorf, Inc.* 14,018 189,804 Radian Group, Inc. 38,230 892,670 Eastman Kodak Co.*(c) 3,135 22,321 Riverview Bancorp, Inc. 4,220 28,991 Immersion Corp.* 3,424 29,275 Security National Financial Corp., Intevac, Inc.* 4,695 32,630 Class A* 1,905 16,592 Quantum Corp.* 8,293 62,280 Southern Missouri Bancorp, Inc. 1,515 66,963 Super Micro Computer, Inc.* 8,652 300,571 Sterling Bancorp, Inc.* 3,267 15,714 Turtle Beach Corp.* 2,802 92,746 Territorial Bancorp, Inc. 1,564 40,852 1,776,921 Timberland Bancorp, Inc. 1,486 43,332 Textiles, Apparel & Luxury Goods - 0.8% TrustCo Bank Corp. 3,783 148,037 Crocs, Inc.* 13,334 1,349,934 Walker & Dunlop, Inc. 5,648 573,498 Deckers Outdoor Corp.* 5,589 1,874,774 Washington Federal, Inc. 15,077 502,667 Fossil Group, Inc.* 9,369 132,290 Waterstone Financial, Inc. 4,341 85,865 G-III Apparel Group Ltd.* 8,783 290,190 Western New England Bancorp, Kontoor Brands, Inc. 10,288 658,638 Inc. 4,494 38,244 Lakeland Industries, Inc.*(c) 1,529 38,562 WSFS Financial Corp. 9,452 502,941 Movado Group, Inc. 3,138 87,017 9,820,476 Oxford Industries, Inc. 3,271 313,198 Tobacco - 0.1% Rocky Brands, Inc. 1,369 79,840 Turning Point Brands, Inc. 2,367 101,237 Steven Madden Ltd. 16,451 681,072 Universal Corp. 4,850 271,794 Superior Group of Cos., Inc.(c) 2,142 54,685 Vector Group Ltd. 27,887 383,446 Unifi, Inc.* 2,742 75,487 756,477 Vera Bradley, Inc.* 4,095 47,011 Trading Companies & Distributors - 1.3% Wolverine World Wide, Inc. 16,118 587,662 Alta Equipment Group, Inc.* 3,463 50,768 6,270,360 Applied Industrial Technologies, Thrifts & Mortgage Finance - 1.3% Inc. 7,719 756,153 Axos Financial, Inc.* 11,423 541,564 Beacon Roofing Supply, Inc.* 10,886 616,583 Bogota Financial Corp.* 1,151 11,567 Boise Cascade Co. 7,806 515,118 CAI International, Inc. 3,325 142,709

See accompanying notes to the financial statements.

Ultra Russell2000 Schedule of Portfolio Investments May 31, 2021

Investments Shares Value ($) Number of Custom Truck One Source, Inc.*(c) 2,644 28,053 Investments Rights Value ($) DXP Enterprises, Inc.* 3,272 101,072 Pharmaceuticals - 0.0% EVI Industries, Inc.*(c) 1,003 30,160 ANI Pharmaceuticals, Inc., GATX Corp. 6,956 686,279 CVR, expiring GMS, Inc.*(c) 8,316 380,790 12/31/2050*(d)(f) 2 — H&E Equipment Services, Inc. 6,397 239,248 Omthera Pharmaceuticals, Inc., Herc Holdings, Inc.* 4,857 558,652 Lawson Products, Inc.* 881 53,300 CVR*(d)(f) 3,327 — McGrath RentCorp 4,820 413,219 — MRC Global, Inc.* 15,693 168,543 TOTAL RIGHTS NOW, Inc.* 21,877 229,052 (Cost $1,951) 1,222 Rush Enterprises, Inc., Class A 8,279 395,736 Rush Enterprises, Inc., Class B 1,312 56,888 Investments Shares Value ($) SiteOne Landscape Supply, Inc.*(c) 8,776 1,509,823 Systemax, Inc. 2,478 85,045 SECURITIES LENDING REINVESTMENTS(g) - 2.3% Textainer Group Holdings Ltd.* 9,861 332,316 Titan Machinery, Inc.* 3,842 117,872 INVESTMENT COMPANIES - 2.3% Transcat, Inc.* 1,388 73,342 BlackRock Liquidity FedFund, Institutional Class Triton International Ltd. 12,071 654,852 0.03% (Cost $16,968,200) 16,968,200 16,968,200 Veritiv Corp.* 2,855 175,354 WESCO International, Inc.* 9,798 1,044,173 Willis Lease Finance Corp.* 581 25,767 Principal 9,440,867 Investments Amount ($) Value ($) Water Utilities - 0.3% American States Water Co. 7,368 584,798 SHORT-TERM INVESTMENTS - 8.5% Artesian Resources Corp., Class A 1,607 66,273 Cadiz, Inc.*(c) 4,066 55,948 REPURCHASE AGREEMENTS(h) - 8.5% California Water Service Group 9,872 561,125 Repurchase Agreements with various Consolidated Water Co. Ltd. 2,894 35,625 counterparties, rates 0.00% - Global Water Resources, Inc. 2,553 43,605 0.01%, dated 5/28/2021, due Middlesex Water Co. 3,407 292,866 6/1/2021, total to be received Pure Cycle Corp.* 3,878 54,835 $62,913,527 SJW Group 5,272 339,780 (Cost $62,913,517) 62,913,517 62,913,517 York Water Co. (The) 2,593 130,506 2,165,361

Wireless Telecommunication Services - 0.1%

Boingo Wireless, Inc.* 8,750 122,325 Total Investments - 87.8% Gogo, Inc.*(c) 11,018 150,065 (Cost $635,640,536) 652,385,967 Shenandoah Telecommunications Other assets less liabilities - 12.2% 90,303,500 Co. 9,620 479,942 Net Assets - 100.0% 742,689,467 Spok Holdings, Inc. 3,533 41,230

793,562 TOTAL COMMON STOCKS (COST $555,756,868) 572,503,028

Number of Investments Rights Value ($)

RIGHTS - 0.0%(e)

Biotechnology - 0.0% Contra Aduro Biotech I, CVR*(d)(f) 687 — Oncternal Therapeutics, Inc., CVR*(d)(f) 42 — Tobira Therapeutics, Inc., CVR*(d)(f) 756 — — Food Products - 0.0%(e) Contraf-Nicotex-Tobacco GmbH*(d)(f) 2,444 1,222

See accompanying notes to the financial statements.

Ultra Russell2000 Schedule of Portfolio Investments May 31, 2021

* Non-income producing security. (a) All or a portion of these securities are segregated in connection with obligations for swaps with a total value of $37,267,652. (b) Security exempt from registration pursuant to Regulation S under the Securities Act of 1933. Regulation S applies to securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States and as such may have restrictions on resale. (c) The security or a portion of this security is on loan at May 31, 2021. The total value of securities on loan at May 31, 2021 was $38,896,710, collateralized in the form of cash with a value of $16,968,200 that was reinvested in the securities shown in the Securities Lending Reinvestment section of the Schedule of Investments and $23,761,934 of collateral in the form of U.S. Government Treasury Securities, interest rates ranging from 0.00% – 6.88%, and maturity dates ranging from June 10, 2021 – November 15, 2050. The total value of collateral is $40,730,134. (d) Security fair valued as of May 31, 2021 in accordance with procedures approved by the Board of Trustees. Total value of all such securities at May 31, 2021 amounted to $1,222, which represents approximately 0.00% of net assets of the Fund. (e) Represents less than 0.05% of net assets. (f) Illiquid security. (g) The security was purchased with cash collateral held from securities on loan at May 31, 2021. The total value of securities purchased was $16,968,200. (h) The Fund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" in the Notes to Financial Statements to view the details of each individual agreement and counterparty as well as a description of the securities subject to repurchase.

Abbreviations CVR Contingent Value Rights - No defined expiration

Aggregate gross unrealized appreciation $ 148,895,298

Aggregate gross unrealized depreciation (31,742,827)

Net unrealized appreciation $ 117,152,471

Federal income tax cost $ 639,229,017

See accompanying notes to the financial statements.

Ultra Russell2000 Schedule of Portfolio Investments May 31, 2021

Futures Contracts Purchased Ultra Russell2000 had the following open long futures contracts as of May 31, 2021: Value and Number of Expiration Trading Unrealized Contracts Date Currency Notional Amount Appreciation Russell 2000 E-Mini Index 598 6/18/2021 USD $ 67,831,140 $ 1,473,144

Swap Agreementsa Ultra Russell2000 had the following open non-exchange traded total return swap agreements as of May 31, 2021:

Financial Cash Instruments Collateral for for the Benefit the Benefit of Value and of (the Fund)/ (the Fund)/ Unrealized the the Notional Termination Rate Paid Appreciationd Counterparty Counterparty Net Amount ($) Dateb Counterparty (Received)c Underlying Instrument ($) ($) ($) Amounte ($) Bank of 185,247,787 12/6/2021 America NA 0.40% Russell 2000® Index 39,670,584 (39,670,584 ) — —

BNP Paribas 93,302,315 11/8/2021 SA 0.00% Russell 2000® Index 14,352,326 (14,352,326) — —

137,125,202 12/6/2021 Citibank NA 0.35% Russell 2000® Index 4,670,012 — (4,670,012) —

Goldman Sachs 92,440,107 11/8/2021 International 0.31% Russell 2000® Index 19,781,016 (19,781,016) — —

Morgan Stanley & Co. International iShares® Russell 2000 13,809,520 11/7/2022 plc 0.00% ETF 1,306,982

Morgan Stanley & Co. International 35,808,885 11/7/2022 plc (0.26)% Russell 2000® Index 2,724,612

49,618,405 4,031,594 (4,031,594) — —

Societe 101,781,456 11/7/2022 Generale 0.40% Russell 2000® Index 8,517,222 (8,517,222) — —

185,551,829 11/8/2021 UBS AG 0.10% Russell 2000® Index 11,499,623 — (11,499,623 ) —

845,067,101 102,522,377

Total Unrealized Appreciation 102,522,377

Abbreviations

USD U.S. Dollar

See accompanying notes to the financial statements.

Ultra S&P500® Schedule of Portfolio Investments May 31, 2021

Investments Shares Value ($) Investments Shares Value ($) Constellation Brands, Inc., Class A 15,003 3,596,519 COMMON STOCKS(a) - 82.1% Molson Coors Beverage Co., Class B* 16,610 968,695 Aerospace & Defense - 1.4% Monster Beverage Corp.* 32,621 3,075,182 Boeing Co. (The)* 48,409 11,957,991 PepsiCo, Inc. 121,734 18,009,328 General Dynamics Corp. 20,460 3,885,559 45,866,175 Howmet Aerospace, Inc.* 34,433 1,221,683 Biotechnology - 1.4% Huntington Ingalls Industries, Inc. 3,552 767,978 AbbVie, Inc. 155,818 17,638,598 L3Harris Technologies, Inc. 18,139 3,955,390 Alexion Pharmaceuticals, Inc.* 19,399 3,424,893 Lockheed Martin Corp. 21,748 8,312,086 Amgen, Inc. 50,961 12,125,660 Northrop Grumman Corp. 13,681 5,005,467 Biogen, Inc.* 13,442 3,595,466 Raytheon Technologies Corp. 134,074 11,893,704 Gilead Sciences, Inc. 110,879 7,330,211 Teledyne Technologies, Inc.* 4,098 1,718,988 Incyte Corp.* 16,489 1,381,448 Textron, Inc. 20,023 1,370,975 Regeneron Pharmaceuticals, Inc.* 9,290 4,667,575 TransDigm Group, Inc.* 4,826 3,131,302 Vertex Pharmaceuticals, Inc.* 22,938 4,785,555 53,221,123 54,949,406 Air Freight & Logistics - 0.6% Building Products - 0.4% CH Robinson Worldwide, Inc. 11,808 1,145,612 A O Smith Corp. 11,950 849,286 Expeditors International of Allegion plc 8,006 1,124,683 Washington, Inc. 14,945 1,878,437 Carrier Global Corp. 72,102 3,311,645 FedEx Corp. 21,518 6,774,082 Fortune Brands Home & Security, United Parcel Service, Inc., Class B 63,488 13,624,525 Inc. 12,236 1,262,266 23,422,656 Johnson Controls International plc 63,546 4,228,351 Airlines - 0.3% Masco Corp. 22,690 1,368,434 Alaska Air Group, Inc.* 10,961 758,501 Trane Technologies plc 21,039 3,921,669 American Airlines Group, Inc.*(b) 56,442 1,368,154 16,066,334 Delta Air Lines, Inc.* 56,309 2,684,813 Capital Markets - 2.5% Southwest Airlines Co.* 52,120 3,203,295 Ameriprise Financial, Inc. 10,302 2,676,872 United Airlines Holdings, Inc.*(b) 28,102 1,639,752 Bank of New York Mellon Corp. 9,654,515 (The) 71,190 3,707,575 Auto Components - 0.1% BlackRock, Inc. 12,525 10,984,926 Aptiv plc* 23,826 3,583,907 Cboe Global Markets, Inc. 9,460 1,052,898 BorgWarner, Inc. 21,093 1,081,860 Charles Schwab Corp. (The) 132,051 9,751,966 4,665,767 CME Group, Inc. 31,676 6,929,442 Automobiles - 1.4% Franklin Resources, Inc. 24,082 823,845 Ford Motor Co.* 344,821 5,010,249 Goldman Sachs Group, Inc. (The) 30,360 11,294,527 General Motors Co.* 111,886 6,635,959 Intercontinental Exchange, Inc. 49,564 5,594,784 Tesla, Inc.* 67,757 42,363,031 Invesco Ltd. 33,216 947,653 54,009,239 MarketAxess Holdings, Inc. 3,353 1,564,309 Banks - 3.8% Moody's Corp. 14,198 4,761,299 Bank of America Corp. 670,361 28,416,603 Morgan Stanley 132,412 12,042,872 Citigroup, Inc. 184,179 14,496,729 MSCI, Inc. 7,286 3,410,795 Citizens Financial Group, Inc. 37,511 1,871,799 Nasdaq, Inc. 10,179 1,704,575 Comerica, Inc. 12,280 963,857 Northern Trust Corp. 18,381 2,227,594 Fifth Third Bancorp 62,741 2,643,906 Raymond James Financial, Inc. 10,815 1,433,961 First Republic Bank 15,528 2,972,680 S&P Global, Inc.(b) 21,239 8,059,563 Huntington Bancshares, Inc.(b) 89,760 1,423,594 State Street Corp. 31,041 2,699,946 JPMorgan Chase & Co. 269,259 44,223,098 T. Rowe Price Group, Inc. 20,114 3,848,814 KeyCorp 85,486 1,969,597 95,518,216 M&T Bank Corp. 11,350 1,823,832 Chemicals - 1.6% People's United Financial, Inc. 37,548 710,033 Air Products and Chemicals, Inc. 19,525 5,850,862 PNC Financial Services Group, Inc. Albemarle Corp. 10,291 1,719,420 (The) 37,415 7,283,952 Celanese Corp. 10,074 1,666,743 Regions Financial Corp. 84,768 1,984,419 CF Industries Holdings, Inc. 18,883 1,004,009 SVB Financial Group* 4,763 2,776,305 Corteva, Inc. 65,655 2,987,302 Truist Financial Corp. 118,874 7,344,036 Dow, Inc. 65,757 4,499,094 US Bancorp 120,616 7,331,040 DuPont de Nemours, Inc. 47,506 4,018,533 Wells Fargo & Co. 364,784 17,042,709 Eastman Chemical Co. 11,988 1,503,295 Zions Bancorp NA 14,490 838,681 Ecolab, Inc. 21,944 4,719,716 146,116,870 FMC Corp. 11,414 1,331,900 Beverages - 1.2% International Flavors & Fragrances, Brown-Forman Corp., Class B 16,117 1,295,162 Inc. 21,947 3,109,231 Coca-Cola Co. (The) 342,219 18,921,289 Linde plc 46,134 13,867,880

See accompanying notes to the financial statements.

Ultra S&P500® Schedule of Portfolio Investments May 31, 2021

Investments Shares Value ($) Investments Shares Value ($) LyondellBasell Industries NV, Exelon Corp. 86,148 3,886,998 Class A 22,702 2,556,699 FirstEnergy Corp. 47,932 1,817,102 Mosaic Co. (The) 30,440 1,100,102 NextEra Energy, Inc. 172,936 12,662,374 PPG Industries, Inc. 20,908 3,757,586 NRG Energy, Inc. 21,591 694,151 Sherwin-Williams Co. (The) 21,344 6,051,664 Pinnacle West Capital Corp. 9,944 841,064 59,744,036 PPL Corp. 67,854 1,975,230 Commercial Services & Supplies - 0.3% Southern Co. (The) 93,233 5,959,453 Cintas Corp. 7,785 2,752,309 Xcel Energy, Inc. 47,441 3,362,618 Copart, Inc.* 18,350 2,367,333 50,455,117 Republic Services, Inc. 18,572 2,027,691 Electrical Equipment - 0.5% Rollins, Inc. 19,545 666,289 AMETEK, Inc. 20,345 2,748,610 Waste Management, Inc. 34,351 4,832,499 Eaton Corp. plc 35,128 5,102,342 12,646,121 Emerson Electric Co. 52,945 5,066,307 Communications Equipment - 0.7% Generac Holdings, Inc.* 5,547 1,823,410 Arista Networks, Inc.* 4,849 1,645,653 Rockwell Automation, Inc. 10,249 2,702,866 Cisco Systems, Inc. 372,520 19,706,308 17,443,535 F5 Networks, Inc.* 5,440 1,008,739 Electronic Equipment, Instruments & Components - 0.5% Juniper Networks, Inc. 28,957 762,438 Amphenol Corp., Class A 52,868 3,555,902 Motorola Solutions, Inc. 14,915 3,062,199 CDW Corp. 12,441 2,057,990 26,185,337 Corning, Inc. 67,799 2,958,070 Construction & Engineering - 0.0%(c) IPG Photonics Corp.* 3,165 662,308 Quanta Services, Inc. 12,209 1,164,128 Keysight Technologies, Inc.* 16,420 2,337,880 TE Connectivity Ltd. 29,197 3,961,449 Construction Materials - 0.1% Trimble, Inc.* 22,146 1,722,737 Martin Marietta Materials, Inc. 5,496 1,998,620 Zebra Technologies Corp., Class Vulcan Materials Co. 11,696 2,144,111 A* 4,718 2,345,082 4,142,731 19,601,418 Consumer Finance - 0.6% Energy Equipment & Services - 0.2% American Express Co. 57,576 9,219,645 Baker Hughes Co. 64,322 1,569,457 Capital One Financial Corp. 40,522 6,515,127 Halliburton Co. 78,411 1,760,327 Discover Financial Services 27,062 3,173,290 NOV, Inc.* 34,255 552,190 Synchrony Financial 47,924 2,272,077 Schlumberger NV 123,381 3,865,527 21,180,139 7,747,501 Containers & Packaging - 0.3% Entertainment - 1.6% Amcor plc(b) 137,826 1,626,347 Activision Blizzard, Inc. 68,363 6,648,302 Avery Dennison Corp. 7,325 1,615,382 Electronic Arts, Inc. 25,380 3,627,563 Ball Corp. 28,936 2,377,382 Live Nation Entertainment, Inc.*(b) 12,663 1,141,063 International Paper Co. 34,686 2,188,687 Netflix, Inc.* 39,080 19,649,815 Packaging Corp. of America 8,367 1,243,754 Take-Two Interactive Software, Sealed Air Corp. 13,670 777,276 Inc.* 10,163 1,885,846 WestRock Co. 23,252 1,356,057 Walt Disney Co. (The)* 160,175 28,615,264 11,184,885 61,567,853 Distributors - 0.1% Equity Real Estate Investment Trusts (REITs) - 2.0% Genuine Parts Co. 12,742 1,670,731 Alexandria Real Estate Equities, LKQ Corp.* 24,627 1,254,992 Inc. 11,217 1,999,542 Pool Corp. 3,550 1,549,753 American Tower Corp. 40,042 10,229,129 4,475,476 AvalonBay Communities, Inc. 12,312 2,547,845 Diversified Financial Services - 1.3% Boston Properties, Inc. 12,511 1,470,793 Berkshire Hathaway, Inc., Class B* 168,241 48,695,675 Crown Castle International Corp. 38,058 7,211,991 Digital Realty Trust, Inc. 24,806 3,759,597 Diversified Telecommunication Services - 1.1% Duke Realty Corp. 32,980 1,532,251 AT&T, Inc. 629,291 18,520,034 Equinix, Inc. 7,879 5,804,617 Lumen Technologies, Inc. 87,105 1,205,533 Equity Residential 30,252 2,343,017 Verizon Communications, Inc. 365,142 20,626,872 Essex Property Trust, Inc. 5,735 1,693,488 40,352,439 Extra Space Storage, Inc. 11,650 1,745,287 Electric Utilities - 1.3% Federal Realty Investment Trust 6,163 704,677 Alliant Energy Corp. 22,049 1,260,100 Healthpeak Properties, Inc. 47,533 1,586,652 American Electric Power Co., Inc. 43,819 3,768,434 Host Hotels & Resorts, Inc.* 62,240 1,068,661 Duke Energy Corp. 67,825 6,797,421 Iron Mountain, Inc.(b) 25,450 1,108,093 Edison International 33,467 1,869,801 Kimco Realty Corp. 38,158 813,147 Entergy Corp. 17,690 1,862,049 Mid-America Apartment Evergy, Inc. 20,025 1,241,350 Communities, Inc. 10,093 1,621,945 Eversource Energy 30,262 2,456,972 Prologis, Inc. 65,250 7,689,060

See accompanying notes to the financial statements.

Ultra S&P500® Schedule of Portfolio Investments May 31, 2021

Investments Shares Value ($) Investments Shares Value ($) Public Storage 13,418 3,790,317 Anthem, Inc. 21,610 8,605,534 Realty Income Corp. 32,947 2,253,575 Cardinal Health, Inc. 25,913 1,452,942 Regency Centers Corp. 13,936 900,266 Centene Corp.* 51,319 3,777,078 SBA Communications Corp. 9,647 2,875,964 Cigna Corp. 31,046 8,036,257 Simon Property Group, Inc. 28,986 3,724,411 CVS Health Corp. 115,711 10,002,059 UDR, Inc. 26,191 1,247,477 DaVita, Inc.* 6,371 764,966 Ventas, Inc. 33,059 1,833,122 HCA Healthcare, Inc. 23,393 5,024,582 Vornado Realty Trust 13,846 654,639 Henry Schein, Inc.* 12,571 955,899 Welltower, Inc. 36,829 2,753,704 Humana, Inc. 11,371 4,977,087 Weyerhaeuser Co. 65,982 2,504,677 Laboratory Corp. of America 77,467,944 Holdings* 8,612 2,363,822 Food & Staples Retailing - 1.1% McKesson Corp. 14,031 2,699,424 Costco Wholesale Corp. 39,059 14,774,848 Quest Diagnostics, Inc. 11,776 1,550,546 Kroger Co. (The) 67,180 2,484,316 UnitedHealth Group, Inc. 83,411 34,358,659 Sysco Corp. 45,038 3,648,078 Universal Health Services, Inc., Walgreens Boots Alliance, Inc. 63,280 3,332,325 Class B 6,868 1,096,339 Walmart, Inc. 122,329 17,374,388 87,157,388 41,613,955 Health Care Technology - 0.1% Food Products - 0.8% Cerner Corp. 27,027 2,114,863 Archer-Daniels-Midland Co. 49,271 3,278,000 Campbell Soup Co. 17,910 871,680 Hotels, Restaurants & Leisure - 1.7% Conagra Brands, Inc. 43,111 1,642,529 Booking Holdings, Inc.* 3,614 8,534,642 General Mills, Inc. 53,952 3,391,423 Caesars Entertainment, Inc.* 18,378 1,974,716 Hershey Co. (The) 12,931 2,237,709 Carnival Corp.* 70,397 2,080,935 Hormel Foods Corp. 24,784 1,203,015 Chipotle Mexican Grill, Inc.* 2,483 3,406,626 J M Smucker Co. (The) 9,670 1,288,914 Darden Restaurants, Inc. 11,500 1,647,145 Kellogg Co. 22,459 1,470,840 Domino's Pizza, Inc. 3,424 1,461,603 Kraft Heinz Co. (The) 57,203 2,493,479 Expedia Group, Inc.* 12,207 2,160,029 Lamb Weston Holdings, Inc. 12,914 1,065,276 Hilton Worldwide Holdings, Inc.* 24,494 3,068,363 McCormick & Co., Inc. (Non- Las Vegas Sands Corp.* 28,982 1,673,710 Voting) 21,966 1,956,292 Marriott International, Inc., Class Mondelez International, Inc., Class A* 23,473 3,370,253 A 124,602 7,915,965 McDonald's Corp. 65,786 15,386,688 Tyson Foods, Inc., Class A 26,006 2,067,477 MGM Resorts International 36,242 1,553,695 30,882,599 Norwegian Cruise Line Holdings Gas Utilities - 0.0%(c) Ltd.*(b) 32,049 1,022,363 Atmos Energy Corp. 11,309 1,121,514 Penn National Gaming, Inc.*(b) 13,118 1,075,282 Royal Caribbean Cruises Ltd.* 19,317 1,801,697 Health Care Equipment & Supplies - 2.9% Starbucks Corp. 103,883 11,830,196 Abbott Laboratories 156,316 18,234,261 Wynn Resorts Ltd.* 9,283 1,224,149 ABIOMED, Inc.* 3,991 1,135,759 Yum! Brands, Inc. 26,476 3,176,326 Align Technology, Inc.* 6,354 3,749,813 66,448,418 Baxter International, Inc. 44,569 3,660,006 Household Durables - 0.4% Becton Dickinson and Co. 25,638 6,201,576 DR Horton, Inc. 29,204 2,782,849 Boston Scientific Corp.* 125,048 5,320,792 Garmin Ltd. 13,185 1,875,435 Cooper Cos., Inc. (The) 4,337 1,706,393 Leggett & Platt, Inc. 11,735 645,777 Danaher Corp. 55,931 14,326,166 Lennar Corp., Class A 24,219 2,397,923 DENTSPLY SIRONA, Inc. 19,328 1,293,430 Mohawk Industries, Inc.* 5,205 1,096,589 Dexcom, Inc.* 8,486 3,134,644 Newell Brands, Inc. 33,345 956,668 Edwards Lifesciences Corp.* 55,106 5,284,665 NVR, Inc.* 305 1,490,605 Hologic, Inc.* 22,736 1,433,732 PulteGroup, Inc. 23,462 1,355,869 IDEXX Laboratories, Inc.* 7,538 4,207,033 Whirlpool Corp. 5,539 1,313,242 Intuitive Surgical, Inc.* 10,387 8,747,724 13,914,957 Medtronic plc 118,951 15,058,007 Household Products - 1.1% ResMed, Inc. 12,839 2,642,908 Church & Dwight Co., Inc. 21,626 1,853,997 STERIS plc 7,531 1,437,367 Clorox Co. (The) 11,100 1,961,703 Stryker Corp. 28,880 7,372,198 Colgate-Palmolive Co. 74,876 6,273,111 Teleflex, Inc. 4,120 1,657,023 Kimberly-Clark Corp. 29,825 3,896,040 West Pharmaceutical Services, Inc. 6,539 2,272,368 Procter & Gamble Co. (The) 217,282 29,300,478 Zimmer Biomet Holdings, Inc. 18,341 3,087,340 43,285,329 111,963,205 Independent Power and Renewable Electricity Producers - 0.0%(c) Health Care Providers & Services - 2.3% AES Corp. (The) 58,953 1,497,996 AmerisourceBergen Corp. 13,005 1,492,194

See accompanying notes to the financial statements.

Ultra S&P500® Schedule of Portfolio Investments May 31, 2021

Investments Shares Value ($) Investments Shares Value ($) Industrial Conglomerates - 1.0% VeriSign, Inc.* 8,782 1,931,337 3M Co. 51,099 10,375,141 Visa, Inc., Class A 149,662 34,018,173 General Electric Co. 773,662 10,877,688 Western Union Co. (The) 36,259 887,258 Honeywell International, Inc. 61,370 14,170,947 160,606,538 Roper Technologies, Inc. 9,260 4,167,092 Leisure Products - 0.0%(c) 39,590,868 Hasbro, Inc. 11,271 1,081,678 Insurance - 1.6% Aflac, Inc. 56,506 3,202,760 Life Sciences Tools & Services - 1.0% Allstate Corp. (The) 26,725 3,650,902 Agilent Technologies, Inc. 26,886 3,713,763 American International Group, Inc. 76,305 4,031,956 Bio-Rad Laboratories, Inc., Class Aon plc, Class A(b) 19,940 5,052,198 A* 1,901 1,145,105 Arthur J Gallagher & Co. 18,079 2,650,562 Charles River Laboratories Assurant, Inc. 5,109 823,315 International, Inc.* 4,391 1,484,114 Chubb Ltd. 39,727 6,753,193 Illumina, Inc.* 12,874 5,222,209 Cincinnati Financial Corp. 13,228 1,609,980 IQVIA Holdings, Inc.* 16,878 4,053,421 Everest Re Group Ltd. 3,529 917,399 Mettler-Toledo International, Inc.* 2,065 2,686,462 Globe Life, Inc. 8,384 883,841 PerkinElmer, Inc. 9,888 1,434,452 Hartford Financial Services Group, Thermo Fisher Scientific, Inc. 34,748 16,314,186 Inc. (The) 31,546 2,061,531 Waters Corp.* 5,487 1,768,186 Lincoln National Corp. 15,922 1,111,196 37,821,898 Loews Corp. 20,029 1,169,293 Machinery - 1.5% Marsh & McLennan Cos., Inc. 44,841 6,203,752 Caterpillar, Inc. 48,117 11,600,046 MetLife, Inc. 66,330 4,335,329 Cummins, Inc. 13,060 3,360,077 Principal Financial Group, Inc. 22,371 1,462,840 Deere & Co. 27,657 9,986,943 Progressive Corp. (The) 51,685 5,120,950 Dover Corp. 12,675 1,907,588 Prudential Financial, Inc. 35,031 3,747,266 Fortive Corp. 29,831 2,163,344 Travelers Cos., Inc. (The) 22,255 3,554,124 IDEX Corp. 6,696 1,490,931 Unum Group 17,977 556,748 Illinois Tool Works, Inc. 25,427 5,892,962 W R Berkley Corp. 12,364 964,268 Ingersoll Rand, Inc.* 32,886 1,632,461 Willis Towers Watson plc 11,380 2,974,277 Otis Worldwide Corp. 35,970 2,817,530 62,837,680 PACCAR, Inc. 30,613 2,802,926 Interactive Media & Services - 5.2% Parker-Hannifin Corp. 11,390 3,509,828 Alphabet, Inc., Class A* 26,536 62,541,372 Pentair plc 14,653 1,010,617 Alphabet, Inc., Class C* 25,435 61,338,029 Snap-on, Inc. 4,783 1,217,847 Facebook, Inc., Class A* 212,250 69,772,942 Stanley Black & Decker, Inc. 14,197 3,077,910 Twitter, Inc.* 70,427 4,084,766 Westinghouse Air Brake 197,737,109 Technologies Corp. 15,668 1,296,684 Internet & Direct Marketing Retail - 3.3% Xylem, Inc. 15,914 1,879,762 Amazon.com, Inc.* 37,769 121,732,131 55,647,456 eBay, Inc. 57,039 3,472,534 Media - 1.1% Etsy, Inc.* 11,122 1,832,127 Charter Communications, Inc., 127,036,792 Class A*(b) 12,479 8,667,040 IT Services - 4.2% Comcast Corp., Class A 403,353 23,128,261 Accenture plc, Class A 55,965 15,791,084 Discovery, Inc., Class A*(b) 14,338 460,393 Akamai Technologies, Inc.* 14,402 1,644,852 Discovery, Inc., Class C* 25,561 768,108 Automatic Data Processing, Inc. 37,761 7,401,911 DISH Network Corp., Class A* 21,835 950,259 Broadridge Financial Solutions, Fox Corp., Class A 29,502 1,101,900 Inc. 10,218 1,629,567 Fox Corp., Class B 13,564 492,102 Cognizant Technology Solutions Interpublic Group of Cos., Inc. Corp., Class A 46,820 3,350,439 (The) 34,473 1,161,396 DXC Technology Co.* 22,465 851,873 News Corp., Class A 34,509 931,398 Fidelity National Information News Corp., Class B 10,745 276,039 Services, Inc. 54,805 8,164,849 Omnicom Group, Inc. 18,972 1,560,257 Fiserv, Inc.* 52,554 6,054,221 ViacomCBS, Inc. 51,843 2,199,180 FleetCor Technologies, Inc.* 7,360 2,019,878 41,696,333 Gartner, Inc.* 7,829 1,815,075 Metals & Mining - 0.3% Global Payments, Inc. 26,052 5,046,533 Freeport-McMoRan, Inc. 128,694 5,497,808 International Business Machines Newmont Corp. 70,618 5,189,011 Corp. 78,849 11,333,755 Nucor Corp. 26,299 2,696,699 Jack Henry & Associates, Inc. 6,713 1,034,809 13,383,518 Mastercard, Inc., Class A 77,363 27,895,551 Multiline Retail - 0.4% Paychex, Inc. 28,321 2,864,386 Dollar General Corp. 21,618 4,387,589 PayPal Holdings, Inc.* 103,342 26,870,987 Dollar Tree, Inc.* 20,753 2,023,418

See accompanying notes to the financial statements.

Ultra S&P500® Schedule of Portfolio Investments May 31, 2021

Investments Shares Value ($) Investments Shares Value ($) Target Corp. 44,196 10,028,956 Road & Rail - 0.8% 16,439,963 CSX Corp. 67,282 6,736,274 Multi-Utilities - 0.6% JB Hunt Transport Services, Inc. 7,368 1,263,907 Ameren Corp. 22,356 1,882,375 Kansas City Southern 8,016 2,386,203 CenterPoint Energy, Inc. 48,670 1,231,351 Norfolk Southern Corp. 22,228 6,243,845 CMS Energy Corp. 25,496 1,599,619 Old Dominion Freight Line, Inc. 8,461 2,245,972 Consolidated Edison, Inc. 30,214 2,333,729 Union Pacific Corp. 59,104 13,282,442 Dominion Energy, Inc. 71,089 5,412,717 32,158,643 DTE Energy Co. 17,098 2,359,353 Semiconductors & Semiconductor Equipment - 4.5% NiSource, Inc. 34,577 881,714 Advanced Micro Devices, Inc.* 106,927 8,562,714 Public Service Enterprise Group, Analog Devices, Inc. 32,550 5,357,730 Inc. 44,568 2,768,564 Applied Materials, Inc. 80,961 11,183,143 Sempra Energy 27,784 3,764,454 Broadcom, Inc. 36,021 17,013,799 WEC Energy Group, Inc. 27,833 2,613,797 Enphase Energy, Inc.* 11,385 1,628,624 24,847,673 Intel Corp. 358,511 20,478,148 Oil, Gas & Consumable Fuels - 2.1% KLA Corp. 13,595 4,308,120 APA Corp. 33,342 693,514 Lam Research Corp. 12,610 8,194,609 Cabot Oil & Gas Corp. 35,255 578,182 Maxim Integrated Products, Inc.* 23,651 2,412,639 Chevron Corp. 170,389 17,684,674 Microchip Technology, Inc. 23,759 3,728,975 ConocoPhillips 119,539 6,663,104 Micron Technology, Inc.* 98,709 8,305,375 Devon Energy Corp. 52,265 1,388,158 Monolithic Power Systems, Inc. 3,784 1,298,366 Diamondback Energy, Inc. 15,954 1,277,437 NVIDIA Corp. 54,708 35,548,164 EOG Resources, Inc. 51,491 4,136,787 NXP Semiconductors NV 24,443 5,167,739 Exxon Mobil Corp. 373,552 21,804,230 Qorvo, Inc.* 9,994 1,826,104 Hess Corp. 24,108 2,020,733 QUALCOMM, Inc. 100,238 13,486,021 HollyFrontier Corp. 13,185 428,117 Skyworks Solutions, Inc. 14,550 2,473,500 Kinder Morgan, Inc. 171,787 3,150,574 Teradyne, Inc. 14,709 1,946,736 Marathon Oil Corp. 69,652 843,486 Texas Instruments, Inc. 81,198 15,413,004 Marathon Petroleum Corp. 57,467 3,551,461 Xilinx, Inc.* 21,686 2,754,122 Occidental Petroleum Corp. 73,979 1,920,495 171,087,632 ONEOK, Inc. 39,250 2,070,045 Software - 6.9% Phillips 66 38,542 3,246,007 Adobe, Inc.* 42,295 21,341,211 Pioneer Natural Resources Co. 18,155 2,763,009 ANSYS, Inc.* 7,655 2,586,931 Valero Energy Corp. 36,051 2,898,500 Autodesk, Inc.* 19,403 5,546,541 Williams Cos., Inc. (The) 107,100 2,821,014 Cadence Design Systems, Inc.* 24,616 3,125,986 79,939,527 Citrix Systems, Inc. 10,850 1,247,316 Personal Products - 0.2% Fortinet, Inc.* 11,952 2,611,990 Estee Lauder Cos., Inc. (The), Class Intuit, Inc. 24,163 10,609,732 A 20,271 6,213,467 Microsoft Corp. 665,509 166,164,286 NortonLifeLock, Inc. 51,355 1,420,479 Pharmaceuticals - 3.0% Oracle Corp. 163,659 12,886,510 Bristol-Myers Squibb Co. 197,695 12,992,515 Paycom Software, Inc.* 4,331 1,427,498 Catalent, Inc.* 15,021 1,574,651 PTC, Inc.* 9,276 1,244,283 Eli Lilly & Co. 70,191 14,019,950 salesforce.com, Inc.* 80,972 19,279,433 Johnson & Johnson 231,950 39,257,538 ServiceNow, Inc.* 17,303 8,199,546 Merck & Co., Inc. 223,268 16,943,809 Synopsys, Inc.* 13,445 3,419,601 Perrigo Co. plc 11,743 541,822 Tyler Technologies, Inc.* 3,578 1,442,506 Pfizer, Inc. 492,157 19,061,241 262,553,849 Viatris, Inc. 106,509 1,623,197 Specialty Retail - 1.8% Zoetis, Inc. 41,928 7,407,839 Advance Auto Parts, Inc. 5,780 1,096,640 113,422,562 AutoZone, Inc.* 1,957 2,752,716 Professional Services - 0.3% Best Buy Co., Inc. 20,335 2,363,740 Equifax, Inc. 10,747 2,525,975 CarMax, Inc.* 14,342 1,652,055 IHS Markit Ltd. 32,895 3,464,172 Gap, Inc. (The) 18,152 607,184 Jacobs Engineering Group, Inc. 11,479 1,630,936 Home Depot, Inc. (The) 94,995 30,294,856 Leidos Holdings, Inc. 11,769 1,209,265 L Brands, Inc.* 20,613 1,440,230 Nielsen Holdings plc 31,571 859,047 Lowe's Cos., Inc. 64,502 12,566,925 Robert Half International, Inc. 9,982 886,302 O'Reilly Automotive, Inc.* 6,195 3,315,068 Verisk Analytics, Inc. 14,364 2,482,530 Ross Stores, Inc. 31,413 3,970,289 13,058,227 TJX Cos., Inc. (The) 105,941 7,155,255 Real Estate Management & Development - 0.1% Tractor Supply Co. 10,262 1,864,605 CBRE Group, Inc., Class A* 29,612 2,599,341 Ulta Beauty, Inc.* 4,971 1,716,785 70,796,348

See accompanying notes to the financial statements.

Ultra S&P500® Schedule of Portfolio Investments May 31, 2021

Investments Shares Value ($) Principal Technology Hardware, Storage & Peripherals - 4.8% Investments Amount ($) Value ($) Apple, Inc. 1,392,462 173,514,690 Hewlett Packard Enterprise Co. 114,809 1,832,352 HP, Inc. 110,521 3,230,529 Total Investments - 83.4% NetApp, Inc. 19,642 1,519,701 (Cost $2,965,298,636) 3,192,803,293 Seagate Technology Holdings plc 17,724 1,697,073 Other assets less liabilities - 16.6% 634,652,220 Western Digital Corp.* 27,009 2,031,887 Net Assets - 100.0% 3,827,455,513 183,826,232

Textiles, Apparel & Luxury Goods - 0.6%

Hanesbrands, Inc. 30,778 601,402 * Non-income producing security. NIKE, Inc., Class B 112,193 15,309,857 (a) All or a portion of these securities are segregated in connection PVH Corp.* 6,274 720,381 with obligations for swaps with a total value of $543,202,625. Ralph Lauren Corp.* 4,256 528,084 (b) The security or a portion of this security is on loan at May 31, Tapestry, Inc.* 24,514 1,100,433 2021. The total value of securities on loan at May 31, 2021 was Under Armour, Inc., Class A* 16,643 375,799 $12,249,249, collateralized in the form of cash with a value of Under Armour, Inc., Class C*(b) 17,195 327,737 $519,691 that was reinvested in the securities shown in the VF Corp. 28,343 2,259,504 Securities Lending Reinvestment section of the Schedule of 21,223,197 Investments and $12,138,296 of collateral in the form of U.S. Government Treasury Securities, interest rates ranging from Tobacco - 0.6% 0.00% – 6.88%, and maturity dates ranging from June 24, 2021 Altria Group, Inc. 164,007 8,072,424 – November 15, 2050. The total value of collateral is Philip Morris International, Inc. 137,413 13,250,736 $12,657,987. 21,323,160 (c) Represents less than 0.05% of net assets. Trading Companies & Distributors - 0.2% (d) The security was purchased with cash collateral held from Fastenal Co. 50,679 2,688,014 securities on loan at May 31, 2021. The total value of securities United Rentals, Inc.* 6,371 2,127,659 purchased was $519,691. WW Grainger, Inc. 3,882 1,794,105 (e) The Fund invests in Repurchase Agreements jointly with other 6,609,778 funds in the Trust. See "Repurchase Agreements" in the Notes Water Utilities - 0.1% to Financial Statements to view the details of each individual American Water Works Co., Inc. 16,010 2,481,870 agreement and counterparty as well as a description of the securities subject to repurchase.

Wireless Telecommunication Services - 0.2% T-Mobile US, Inc.* 51,541 7,290,474 As of May 31, 2021, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investment securities and TOTAL COMMON STOCKS derivative instruments, if applicable, for federal income tax purposes was (COST $2,913,352,016) 3,140,856,673 as follows:

Aggregate gross unrealized appreciation $ 808,405,937

SECURITIES LENDING REINVESTMENTS(d) - 0.0%(c) Aggregate gross unrealized depreciation (55,180,473)

Net unrealized appreciation $ 753,225,464

INVESTMENT COMPANIES - 0.0%(c) Federal income tax cost $ 3,055,488,409

BlackRock Liquidity FedFund, Institutional Class 0.03% (Cost $519,691) 519,691 519,691

Principal Investments Amount ($) Value ($)

SHORT-TERM INVESTMENTS - 1.3%

REPURCHASE AGREEMENTS(e) - 1.3% Repurchase Agreements with various counterparties, rates 0.00% - 0.01%, dated 5/28/2021, due 6/1/2021, total to be received $51,426,938 (Cost $51,426,929) 51,426,929 51,426,929

See accompanying notes to the financial statements.

Ultra S&P500® Schedule of Portfolio Investments May 31, 2021

Futures Contracts Purchased Ultra S&P500® had the following open long futures contracts as of May 31, 2021: Value and Number of Expiration Trading Unrealized Contracts Date Currency Notional Amount Appreciation S&P 500 E-Mini Index 1,182 6/18/2021 USD $ 248,361,840 $ 11,594,935

Swap Agreementsa Ultra S&P500® had the following open non-exchange traded total return swap agreements as of May 31, 2021:

Financial Cash Instruments Collateral for for the Benefit the Benefit of Value and of (the Fund)/ (the Fund)/ Unrealized the the Notional Termination Rate Paid Appreciationd Counterparty Counterparty Net Amount ($) Dateb Counterparty (Received)c Underlying Instrument ($) ($) ($) Amounte ($) Bank of 224,146,329 11/8/2021 America NA 0.50% S&P 500® 44,088,784 (44,088,784) — —

BNP Paribas 912,375,952 11/8/2021 SA 0.65% S&P 500® 113,198,025 (112,989,545) — 208,480

404,397,545 12/6/2021 Citibank NA 0.55% S&P 500® 43,660,312 — (43,310,000) 350,312

Credit Suisse 318,200,678 11/8/2021 International 0.70% S&P 500® 160,905,190 — (160,580,000) 325,190

Goldman Sachs 255,790,665 11/8/2021 International 0.61% S&P 500® 19,804,818

Goldman Sachs SPDR® S&P 500® ETF 756,599,674 11/8/2021 International 0.51% Trust 81,337,271

1,012,390,339 101,142,089 (101,142,089) — —

J.P. Morgan 194,339,189 11/8/2021 Securities 0.46% S&P 500® 14,910,505 — (14,510,000) 400,505

Morgan Stanley & Co. International 157,494,369 11/8/2021 plc 0.11% S&P 500® 13,355,854 (13,355,854) — —

Societe 476,506,440 11/7/2022 Generale 0.45% S&P 500® 35,612,193 (35,612,193) — —

566,306,229 12/6/2021 UBS AG 0.60% S&P 500® 77,442,693 — (76,950,000) 492,693

4,266,157,070 604,315,645

Total Unrealized Appreciation 604,315,645

See accompanying notes to the financial statements.

Ultra S&P500® Schedule of Portfolio Investments May 31, 2021

Abbreviations

USD U.S. Dollar

See accompanying notes to the financial statements.

Ultra SmallCap600 Schedule of Portfolio Investments May 31, 2021

Investments Shares Value ($) Investments Shares Value ($) First Bancorp/PR 5,960 76,228 COMMON STOCKS(a) - 62.6% First Commonwealth Financial Corp. 2,626 39,784 Aerospace & Defense - 0.8% First Financial Bancorp 2,659 67,725 AAR Corp.* 904 37,742 First Hawaiian, Inc. 3,574 100,644 Aerojet Rocketdyne Holdings, Inc. 1,970 95,446 First Midwest Bancorp, Inc. 3,132 65,553 AeroVironment, Inc.* 612 67,094 Great Western Bancorp, Inc. 1,504 50,324 Kaman Corp. 756 40,688 Hanmi Financial Corp. 838 17,581 Moog, Inc., Class A 801 72,250 Heritage Financial Corp. 979 28,401 National Presto Industries, Inc. 141 14,300 Hilltop Holdings, Inc. 1,773 65,867 Park Aerospace Corp. 512 7,895 Hope Bancorp, Inc. 3,366 51,500 Triumph Group, Inc.* 1,425 27,389 Independent Bank Corp. 903 73,694 362,804 Independent Bank Group, Inc. 1,003 78,986 Air Freight & Logistics - 0.5% Investors Bancorp, Inc. 6,148 91,482 Atlas Air Worldwide Holdings, National Bank Holdings Corp., Inc.* 748 56,048 Class A 836 33,106 Echo Global Logistics, Inc.* 726 24,800 NBT Bancorp, Inc. 1,191 46,437 Forward Air Corp. 753 72,958 OFG Bancorp 1,403 33,812 Hub Group, Inc., Class A* 922 64,365 Old National Bancorp 4,522 86,144 218,171 Pacific Premier Bancorp, Inc. 2,574 118,327 Airlines - 0.4% Park National Corp.(b) 389 49,216 Allegiant Travel Co.* 397 87,920 Preferred Bank 370 25,267 Hawaiian Holdings, Inc.* 1,321 34,082 Renasant Corp.(b) 1,534 67,833 SkyWest, Inc.* 1,375 67,416 S&T Bancorp, Inc. 1,073 36,407 189,418 Seacoast Banking Corp. of Florida* 1,508 55,901 Auto Components - 1.0% ServisFirst Bancshares, Inc. 1,284 89,187 American Axle & Manufacturing Simmons First National Corp., Holdings, Inc.* 3,093 34,642 Class A 2,951 90,005 Cooper Tire & Rubber Co. 1,378 81,826 Southside Bancshares, Inc. 850 36,414 Cooper-Standard Holdings, Inc.* 463 13,779 Tompkins Financial Corp. 331 26,861 Triumph Bancorp, Inc.* 617 51,674 Dorman Products, Inc.* 782 80,061 Gentherm, Inc.* 901 65,349 United Community Banks, Inc. 2,369 81,920 Veritex Holdings, Inc. 1,348 47,355 LCI Industries 686 102,248 Motorcar Parts of America, Inc.* 521 12,176 Westamerica Bancorp 731 45,856 Patrick Industries, Inc. 605 51,848 2,926,864 Standard Motor Products, Inc. 549 24,716 Beverages - 0.3% 466,645 Celsius Holdings, Inc.* 732 47,975 Automobiles - 0.1% Coca-Cola Consolidated, Inc. 128 51,830 MGP Ingredients, Inc. 360 25,089 Winnebago Industries, Inc. 921 68,117 National Beverage Corp. 638 31,855

156,749 Banks - 6.3% Allegiance Bancshares, Inc. 507 20,564 Biotechnology - 0.8% Ameris Bancorp 1,902 104,496 Anika Therapeutics, Inc.* 390 18,194 Banc of California, Inc. 1,218 21,327 Coherus Biosciences, Inc.*(b) 1,750 23,030 BancFirst Corp. 509 35,106 Cytokinetics, Inc.* 1,940 42,350 Bancorp, Inc. (The)* 1,403 34,009 Eagle Pharmaceuticals, Inc.* 315 12,480 BankUnited, Inc. 2,534 121,100 Enanta Pharmaceuticals, Inc.* 491 23,892 Banner Corp. 960 56,189 Myriad Genetics, Inc.* 2,052 58,790 Berkshire Hills Bancorp, Inc. 1,393 38,656 REGENXBIO, Inc.* 951 33,542 Boston Private Financial Holdings, Spectrum Pharmaceuticals, Inc.* 3,984 13,745 Inc. 2,251 34,508 Vanda Pharmaceuticals, Inc.* 1,497 26,482 Brookline Bancorp, Inc. 2,133 35,962 Vericel Corp.* 1,255 70,907 Cadence Bancorp 3,398 76,047 Xencor, Inc.* 1,582 60,844 Central Pacific Financial Corp. 769 21,309 384,256 City Holding Co. 428 34,334 Building Products - 1.3% Columbia Banking System, Inc. 1,956 84,421 AAON, Inc. 1,114 73,803 Community Bank System, Inc. 1,465 118,841 American Woodmark Corp.* 463 40,244 Customers Bancorp, Inc.* 801 30,318 Apogee Enterprises, Inc. 711 27,025 CVB Financial Corp. 3,489 77,386 Gibraltar Industries, Inc.* 890 70,711 Dime Community Bancshares, Inc. 956 33,183 Griffon Corp. 1,235 32,468 Eagle Bancorp, Inc. 866 49,483 Insteel Industries, Inc. 528 18,459 FB Financial Corp. 851 35,614 PGT Innovations, Inc.* 1,622 39,188 First Bancorp/NC 778 34,520 Quanex Building Products Corp. 921 24,526

See accompanying notes to the financial statements.

Ultra SmallCap600 Schedule of Portfolio Investments May 31, 2021

Investments Shares Value ($) Investments Shares Value ($) Resideo Technologies, Inc.* 3,908 116,849 Viavi Solutions, Inc.* 6,246 109,492 UFP Industries, Inc. 1,672 132,957 313,406 576,230 Construction & Engineering - 0.6% Capital Markets - 0.6% Arcosa, Inc. 1,314 83,439 B Riley Financial, Inc. 483 35,568 Comfort Systems USA, Inc. 987 81,822 Blucora, Inc.* 1,317 22,837 Granite Construction, Inc. 1,246 50,289 Brightsphere Investment Group, Matrix Service Co.* 723 7,881 Inc. 1,626 36,211 MYR Group, Inc.* 460 40,038 Donnelley Financial Solutions, 263,469 Inc.* 809 24,116 Construction Materials - 0.1% Greenhill & Co., Inc. 399 6,946 US Concrete, Inc.* 434 24,734 Piper Sandler Cos. 377 48,052 StoneX Group, Inc.* 451 30,533 Consumer Finance - 0.5% Virtus Investment Partners, Inc. 195 54,840 Encore Capital Group, Inc.* 856 39,624 WisdomTree Investments, Inc. 3,068 20,556 Enova International, Inc.* 990 37,492 279,659 EZCORP, Inc., Class A* 1,437 10,562 Chemicals - 1.8% Green Dot Corp., Class A* 1,475 59,870 AdvanSix, Inc.* 765 24,220 PRA Group, Inc.* 1,242 48,351 American Vanguard Corp. 727 13,370 World Acceptance Corp.* 108 17,346 Balchem Corp. 884 115,804 213,245 Ferro Corp.* 2,245 48,492 Containers & Packaging - 0.2% FutureFuel Corp. 705 7,240 Myers Industries, Inc. 980 21,589 GCP Applied Technologies, Inc.* 1,316 32,084 O-I Glass, Inc.* 4,304 79,323 Hawkins, Inc. 516 17,554 100,912 HB Fuller Co. 1,421 98,219 Distributors - 0.1% Innospec, Inc. 672 67,946 Core-Mark Holding Co., Inc. 1,234 56,591 Koppers Holdings, Inc.* 575 19,935 Kraton Corp.* 869 29,503 Diversified Consumer Services - 0.1% Livent Corp.*(b) 4,004 78,118 American Public Education, Inc.* 507 14,196 Quaker Chemical Corp. 360 87,318 Perdoceo Education Corp.* 1,912 23,307 Rayonier Advanced Materials, Regis Corp.*(b) 664 6,069 Inc.* 1,730 13,356 43,572 Stepan Co. 582 78,372 Diversified Telecommunication Services - 0.5% Tredegar Corp. 704 10,729 ATN International, Inc. 300 14,181 Trinseo SA 1,051 68,252 Cincinnati Bell, Inc.* 1,389 21,391 810,512 Cogent Communications Holdings, Commercial Services & Supplies - 1.3% Inc. 1,157 87,469 ABM Industries, Inc. 1,830 91,299 Consolidated Communications Brady Corp., Class A 1,323 75,715 Holdings, Inc.* 1,989 18,617 CoreCivic, Inc., REIT* 3,266 25,573 Vonage Holdings Corp.* 6,395 88,123 Deluxe Corp. 1,148 52,303 229,781 Harsco Corp.* 2,156 48,337 Electrical Equipment - 0.3% HNI Corp. 1,172 53,467 AZZ, Inc. 692 37,015 Interface, Inc. 1,602 26,177 Encore Wire Corp. 564 46,361 Matthews International Corp., Class Powell Industries, Inc. 241 8,281 A 866 33,835 Vicor Corp.* 578 52,066 Pitney Bowes, Inc. 4,731 39,646 143,723 Team, Inc.* 835 7,097 Electronic Equipment, Instruments & Components - 2.2% UniFirst Corp. 416 92,219 Arlo Technologies, Inc.* 2,197 14,742 US Ecology, Inc.*(b) 861 34,121 Badger Meter, Inc. 794 75,883 Viad Corp.* 559 24,674 Bel Fuse, Inc., Class B 278 4,581 604,463 Benchmark Electronics, Inc. 991 30,671 Communications Equipment - 0.7% CTS Corp. 883 33,775 ADTRAN, Inc. 1,319 26,129 Daktronics, Inc.* 1,008 6,814 Applied Optoelectronics, Inc.*(b) 671 5,522 ePlus, Inc.* 369 34,896 CalAmp Corp.* 956 13,260 Fabrinet* 1,008 90,408 Comtech Telecommunications FARO Technologies, Inc.* 493 37,295 Corp. 712 18,007 Insight Enterprises, Inc.* 958 100,092 Digi International, Inc.* 905 17,159 Itron, Inc.* 1,209 115,278 Extreme Networks, Inc.* 3,375 38,610 Knowles Corp.* 2,504 51,432 Harmonic, Inc.* 2,752 19,181 Methode Electronics, Inc. 1,051 50,847 NETGEAR, Inc.* 834 32,426 OSI Systems, Inc.* 457 44,037 Plantronics, Inc.*(b) 1,025 33,620 PC Connection, Inc. 301 14,686

See accompanying notes to the financial statements.

Ultra SmallCap600 Schedule of Portfolio Investments May 31, 2021

Investments Shares Value ($) Investments Shares Value ($) Plexus Corp.* 788 77,862 Retail Properties of America, Inc., Rogers Corp.* 510 95,549 Class A 5,859 70,601 Sanmina Corp.* 1,772 74,619 RPT Realty 2,218 28,280 ScanSource, Inc.* 694 21,188 Safehold, Inc. 391 27,409 TTM Technologies, Inc.* 2,712 41,087 Saul Centers, Inc. 352 15,646 1,015,742 SITE Centers Corp. 4,554 68,173 Energy Equipment & Services - 0.9% Summit Hotel Properties, Inc.* 2,887 27,744 Archrock, Inc. 3,502 32,218 Tanger Factory Outlet Centers, Bristow Group, Inc.* 633 17,268 Inc.(b) 2,552 44,737 Core Laboratories NV 1,214 50,745 Uniti Group, Inc. 6,360 69,070 DMC Global, Inc.* 421 22,300 Universal Health Realty Income Dril-Quip, Inc.* 968 32,457 Trust 351 24,289 Helix Energy Solutions Group, Urstadt Biddle Properties, Inc., Inc.* 3,867 20,225 Class A 823 15,044 Helmerich & Payne, Inc. 2,944 83,168 Washington REIT 2,307 54,561 Nabors Industries Ltd.* 176 16,477 Whitestone REIT 1,089 9,017 Oceaneering International, Inc.* 2,710 38,672 Xenia Hotels & Resorts, Inc.* 3,107 60,307 Oil States International, Inc.* 1,667 10,719 1,975,633 Patterson-UTI Energy, Inc. 5,125 42,896 Food & Staples Retailing - 0.4% ProPetro Holding Corp.* 2,226 22,127 Andersons, Inc. (The) 842 26,169 RPC, Inc.* 1,595 7,832 Chefs' Warehouse, Inc. (The)* 874 26,884 US Silica Holdings, Inc.* 2,028 20,807 PriceSmart, Inc. 639 56,424 417,911 SpartanNash Co. 986 20,676 Entertainment - 0.0%(c) United Natural Foods, Inc.* 1,531 58,117 Marcus Corp. (The)* 643 13,574 188,270 Food Products - 0.7% Equity Real Estate Investment Trusts (REITs) - 4.3% B&G Foods, Inc.(b) 1,765 54,009 Acadia Realty Trust 2,355 51,103 Calavo Growers, Inc. 455 32,396 Agree Realty Corp. 1,733 121,795 Cal-Maine Foods, Inc. 1,019 35,573 Alexander & Baldwin, Inc. 1,975 37,940 Fresh Del Monte Produce, Inc. 829 27,747 American Assets Trust, Inc. 1,371 50,110 J & J Snack Foods Corp. 410 71,988 Armada Hoffler Properties, Inc. 1,619 21,484 John B Sanfilippo & Son, Inc. 241 22,488 Brandywine Realty Trust 4,660 65,520 Seneca Foods Corp., Class A* 183 8,462 CareTrust REIT, Inc. 2,618 60,947 Simply Good Foods Co. (The)* 2,301 79,453 Centerspace REIT 353 25,130 332,116 Chatham Lodging Trust* 1,283 16,897 Gas Utilities - 0.4% Community Healthcare Trust, Inc. 615 29,077 Chesapeake Utilities Corp. 477 54,645 DiamondRock Hospitality Co.* 5,737 55,534 Northwest Natural Holding Co. 835 44,155 Diversified Healthcare Trust 6,506 23,617 South Jersey Industries, Inc. 2,748 73,262 Easterly Government Properties, 172,062 Inc. 2,242 46,477 Health Care Equipment & Supplies - 1.9% Essential Properties Realty Trust, AngioDynamics, Inc.* 1,037 23,976 Inc. 3,116 79,770 Avanos Medical, Inc.* 1,310 52,531 Four Corners Property Trust, Inc. 2,079 57,713 Cardiovascular Systems, Inc.* 1,097 42,991 Franklin Street Properties Corp. 2,639 13,564 CONMED Corp. 791 108,913 GEO Group, Inc. (The)(b) 3,311 17,184 CryoLife, Inc.* 1,063 30,625 Getty Realty Corp. 1,004 31,255 Cutera, Inc.* 482 18,499 Global Net Lease, Inc. 2,473 48,322 Glaukos Corp.* 1,250 91,975 Hersha Hospitality Trust* 997 10,718 Heska Corp.* 271 53,699 Independence Realty Trust, Inc. 2,782 47,517 Inogen, Inc.* 503 31,090 Industrial Logistics Properties Trust 1,784 44,707 Integer Holdings Corp.* 901 81,514 Innovative Industrial Properties, Invacare Corp.* 941 7,528 Inc. 652 117,510 Lantheus Holdings, Inc.* 1,827 44,305 iStar, Inc.(b) 2,016 33,889 LeMaitre Vascular, Inc. 462 23,659 Kite Realty Group Trust 2,302 48,802 Meridian Bioscience, Inc.* 1,178 24,455 Lexington Realty Trust 7,579 93,828 Merit Medical Systems, Inc.* 1,339 80,795 LTC Properties, Inc. 1,072 42,001 Mesa Laboratories, Inc. 132 32,480 Mack-Cali Realty Corp. 2,353 40,166 Natus Medical, Inc.* 925 24,790 NexPoint Residential Trust, Inc. 618 32,037 OraSure Technologies, Inc.* 1,965 18,884 Office Properties Income Trust 1,318 38,525 Orthofix Medical, Inc.* 534 21,734 Retail Opportunity Investments Surmodics, Inc.* 376 19,947 Corp. 3,226 57,616 Tactile Systems Technology, Inc.* 534 28,713 Varex Imaging Corp.* 1,070 26,846

See accompanying notes to the financial statements.

Ultra SmallCap600 Schedule of Portfolio Investments May 31, 2021

Investments Shares Value ($) Investments Shares Value ($) Zynex, Inc.*(b) 533 8,112 Universal Electronics, Inc.* 378 18,923 898,061 749,475 Health Care Providers & Services - 2.3% Household Products - 0.3% Addus HomeCare Corp.* 411 39,526 Central Garden & Pet Co.* 267 14,666 AMN Healthcare Services, Inc.* 1,288 114,245 Central Garden & Pet Co., Class A* 1,072 54,083 Community Health Systems, Inc.* 3,327 47,476 WD-40 Co. 374 91,555 CorVel Corp.* 248 30,901 160,304 Covetrus, Inc.* 2,713 75,259 Industrial Conglomerates - 0.1% Cross Country Healthcare, Inc.* 952 14,899 Raven Industries, Inc. 977 43,115 Ensign Group, Inc. (The) 1,404 116,813 Fulgent Genetics, Inc.*(b) 481 35,628 Insurance - 1.6% Hanger, Inc.* 1,042 26,915 Ambac Financial Group, Inc.* 1,252 18,893 Joint Corp. (The)* 360 25,589 American Equity Investment Life Magellan Health, Inc.* 631 59,434 Holding Co. 2,344 71,492 MEDNAX, Inc.*(b) 2,339 74,801 AMERISAFE, Inc. 529 34,665 ModivCare, Inc.* 337 49,616 Assured Guaranty Ltd. 2,090 99,547 Owens & Minor, Inc. 2,007 89,733 eHealth, Inc.* 709 46,262 Pennant Group, Inc. (The)* 693 23,749 Employers Holdings, Inc. 776 32,747 RadNet, Inc.* 1,169 30,943 Genworth Financial, Inc., Class A* 13,795 57,939 Select Medical Holdings Corp. 2,945 118,006 HCI Group, Inc. 169 13,615 Tivity Health, Inc.* 1,033 27,065 Horace Mann Educators Corp. 1,130 45,053 US Physical Therapy, Inc. 349 40,610 James River Group Holdings Ltd. 994 34,710 1,041,208 Palomar Holdings, Inc.*(b) 593 43,289 Health Care Technology - 0.7% ProAssurance Corp. 1,471 35,819 Allscripts Healthcare Solutions, Safety Insurance Group, Inc. 388 33,023 Inc.* 3,822 66,464 SiriusPoint Ltd.* 2,325 24,459 Computer Programs and Systems, Stewart Information Services Corp. 730 44,055 Inc. 346 11,200 Trupanion, Inc.* 904 81,514 HealthStream, Inc.* 687 17,986 United Fire Group, Inc. 589 18,053 NextGen Healthcare, Inc.* 1,519 24,942 United Insurance Holdings Corp. 565 3,187 Omnicell, Inc.* 1,175 163,325 Universal Insurance Holdings, Inc. 775 10,927 Simulations Plus, Inc.(b) 415 21,904 749,249 Tabula Rasa HealthCare, Inc.*(b) 612 26,444 Interactive Media & Services - 0.1% 332,265 QuinStreet, Inc.* 1,340 24,267 Hotels, Restaurants & Leisure - 1.2% BJ's Restaurants, Inc.* 634 35,048 Internet & Direct Marketing Retail - 0.4% Bloomin' Brands, Inc.* 2,193 64,803 Liquidity Services, Inc.* 734 17,550 Brinker International, Inc.* 1,240 76,198 PetMed Express, Inc.(b) 553 15,981 Cheesecake Factory, Inc. (The)* 1,152 67,761 Shutterstock, Inc. 605 54,904 Chuy's Holdings, Inc.* 536 22,217 Stamps.com, Inc.* 500 93,840 Dave & Buster's Entertainment, 182,275 Inc.* 1,301 55,006 IT Services - 1.0% Dine Brands Global, Inc.* 455 43,202 Cardtronics plc, Class A* 986 38,385 El Pollo Loco Holdings, Inc.* 518 8,733 Contra BmTechnologies* 85 1,092 Fiesta Restaurant Group, Inc.* 481 6,537 CSG Systems International, Inc. 892 39,284 Monarch Casino & Resort, Inc.* 351 25,047 EVERTEC, Inc. 1,636 71,215 Red Robin Gourmet Burgers, Inc.* 424 15,205 ExlService Holdings, Inc.* 915 93,312 Ruth's Hospitality Group, Inc.* 868 20,954 Perficient, Inc.* 903 64,646 Shake Shack, Inc., Class A* 990 93,040 Sykes Enterprises, Inc.* 1,081 45,315 533,751 TTEC Holdings, Inc. 499 54,097 Household Durables - 1.6% Unisys Corp.* 1,720 44,221 Cavco Industries, Inc.* 234 51,777 451,567 Century Communities, Inc.* 794 64,616 Leisure Products - 0.4% Ethan Allen Interiors, Inc. 599 17,293 Callaway Golf Co.* 2,572 94,958 Installed Building Products, Inc. 614 72,820 Sturm Ruger & Co., Inc. 479 37,812 iRobot Corp.*(b) 769 75,131 Vista Outdoor, Inc.* 1,593 69,439 La-Z-Boy, Inc. 1,265 52,156 202,209 LGI Homes, Inc.*(b) 601 108,667 Life Sciences Tools & Services - 0.4% M/I Homes, Inc.* 793 55,922 Luminex Corp. 1,186 43,751 MDC Holdings, Inc. 1,511 87,563 NeoGenomics, Inc.* 3,194 131,050 Meritage Homes Corp.* 1,023 110,147 174,801 Tupperware Brands Corp.* 1,344 34,460 Machinery - 3.5% Alamo Group, Inc. 270 41,629

See accompanying notes to the financial statements.

Ultra SmallCap600 Schedule of Portfolio Investments May 31, 2021

Investments Shares Value ($) Investments Shares Value ($) Albany International Corp., Class A 837 74,786 PennyMac Mortgage Investment Astec Industries, Inc. 617 42,283 Trust 2,672 52,371 Barnes Group, Inc. 1,274 68,057 Ready Capital Corp. 1,593 24,246 Chart Industries, Inc.* 971 141,708 Redwood Trust, Inc. 3,060 34,058 CIRCOR International, Inc.* 545 20,508 332,516 Enerpac Tool Group Corp. 1,636 44,826 Multiline Retail - 0.5% EnPro Industries, Inc. 562 51,698 Big Lots, Inc. 922 56,187 ESCO Technologies, Inc. 712 67,384 Macy's, Inc.* 8,477 154,959 Federal Signal Corp. 1,652 70,177 211,146 Franklin Electric Co., Inc. 1,049 88,001 Multi-Utilities - 0.2% Greenbrier Cos., Inc. (The) 897 39,836 Avista Corp. 1,892 85,764 Hillenbrand, Inc. 2,047 93,343 Unitil Corp. 410 22,489 John Bean Technologies Corp. 868 125,018 108,253 Lindsay Corp. 297 48,895 Oil, Gas & Consumable Fuels - 1.7% Lydall, Inc.* 462 16,808 Bonanza Creek Energy, Inc.* 506 21,738 Meritor, Inc.* 1,979 51,454 Callon Petroleum Co.* 1,259 48,434 Mueller Industries, Inc. 1,560 72,431 CONSOL Energy, Inc.* 818 12,548 Proto Labs, Inc.* 755 67,489 Dorian LPG Ltd.* 748 10,629 SPX Corp.* 1,232 77,160 Green Plains, Inc.* 1,152 36,737 SPX FLOW, Inc. 1,151 78,993 Laredo Petroleum, Inc.* 245 13,759 Standex International Corp. 338 33,678 Matador Resources Co. 2,997 91,828 Tennant Co. 505 41,784 Par Pacific Holdings, Inc.* 1,090 15,173 Titan International, Inc.* 1,377 12,792 PBF Energy, Inc., Class A* 2,624 42,351 Wabash National Corp. 1,423 22,697 PDC Energy, Inc.* 2,724 115,007 Watts Water Technologies, Inc., Penn Virginia Corp.* 416 8,021 Class A 751 102,061 Range Resources Corp.* 7,061 95,747 1,595,496 Renewable Energy Group, Inc.* 1,209 73,834 Marine - 0.2% REX American Resources Corp.* 144 13,828 Matson, Inc. 1,186 76,675 SM Energy Co. 2,912 57,949 Southwestern Energy Co.* 17,678 91,395 Media - 0.4% Talos Energy, Inc.*(b) 867 12,294 AMC Networks, Inc., Class A* 819 43,964 761,272 EW Scripps Co. (The), Class A 1,564 33,172 Paper & Forest Products - 0.4% Gannett Co., Inc.*(b) 3,605 18,494 Clearwater Paper Corp.* 454 12,952 Meredith Corp.* 1,108 37,317 Domtar Corp.* 1,503 81,508 Scholastic Corp. 821 27,651 Glatfelter Corp. 1,211 17,874 TechTarget, Inc.* 647 45,491 Mercer International, Inc. 1,080 16,027 206,089 Neenah, Inc. 461 24,401 Metals & Mining - 1.0% Schweitzer-Mauduit International, Allegheny Technologies, Inc.* 3,462 84,784 Inc. 858 35,101 Arconic Corp.* 2,674 96,719 187,863 Carpenter Technology Corp. 1,310 62,775 Personal Products - 0.6% Century Aluminum Co.* 1,378 18,754 Edgewell Personal Care Co. 1,482 67,253 Haynes International, Inc. 347 12,076 elf Beauty, Inc.* 1,051 29,428 Kaiser Aluminum Corp. 431 55,767 Inter Parfums, Inc. 484 37,017 Materion Corp. 555 43,762 Medifast, Inc. 321 106,652 Olympic Steel, Inc. 247 8,830 USANA Health Sciences, Inc.* 324 34,260 SunCoke Energy, Inc. 2,262 17,033 274,610 TimkenSteel Corp.* 1,036 15,695 Pharmaceuticals - 0.9% Warrior Met Coal, Inc. 1,402 25,657 Amphastar Pharmaceuticals, Inc.* 999 18,901 441,852 ANI Pharmaceuticals, Inc.*(b) 263 9,034 Mortgage Real Estate Investment Trusts (REITs) - 0.7% Cara Therapeutics, Inc.*(b) 1,169 15,887 Apollo Commercial Real Estate Collegium Pharmaceutical, Inc.* 948 22,648 Finance, Inc. 3,513 54,978 Corcept Therapeutics, Inc.* 2,883 62,273 ARMOUR Residential REIT, Inc. 1,784 21,390 Endo International plc* 6,303 36,999 Capstead Mortgage Corp. 2,641 17,034 Innoviva, Inc.* 1,718 23,107 Ellington Financial, Inc. 1,199 22,637 Lannett Co., Inc.*(b) 931 4,003 Granite Point Mortgage Trust, Inc. 1,504 21,628 Pacira BioSciences, Inc.* 1,199 72,743 Invesco Mortgage Capital, Inc.(b) 6,301 21,423 Phibro Animal Health Corp., Class KKR Real Estate Finance Trust, A 554 15,617 Inc. 745 15,928 Prestige Consumer Healthcare, New York Mortgage Trust, Inc. 10,359 46,823 Inc.* 1,361 67,873

See accompanying notes to the financial statements.

Ultra SmallCap600 Schedule of Portfolio Investments May 31, 2021

Investments Shares Value ($) Investments Shares Value ($) Supernus Pharmaceuticals, Inc.*(b) 1,445 43,133 America's Car-Mart, Inc.* 167 27,453 392,218 Asbury Automotive Group, Inc.* 529 104,895 Professional Services - 0.8% Barnes & Noble Education, Inc.* 832 6,797 Exponent, Inc. 1,415 129,091 Bed Bath & Beyond, Inc.* 3,310 92,647 Forrester Research, Inc.* 301 12,916 Boot Barn Holdings, Inc.* 795 60,730 Heidrick & Struggles International, Buckle, Inc. (The) 783 32,980 Inc. 530 22,811 Caleres, Inc. 1,035 25,958 Kelly Services, Inc., Class A* 911 23,385 Cato Corp. (The), Class A* 536 8,287 Korn Ferry 1,474 96,414 Chico's FAS, Inc.* 3,273 15,220 ManTech International Corp., Class Children's Place, Inc. (The)* 398 37,010 A 747 64,997 Conn's, Inc.* 527 12,221 Resources Connection, Inc. 833 12,145 Designer Brands, Inc., Class A*(b) 1,605 28,072 TrueBlue, Inc.* 970 26,316 GameStop Corp., Class A*(b) 1,496 332,111 388,075 Genesco, Inc.* 387 21,285 Real Estate Management & Development - 0.3% Group 1 Automotive, Inc. 463 73,839 Marcus & Millichap, Inc.* 656 25,781 Guess?, Inc. 1,024 30,075 RE/MAX Holdings, Inc., Class A 506 17,715 Haverty Furniture Cos., Inc. 457 20,995 Realogy Holdings Corp.* 3,155 55,875 Hibbett Sports, Inc.* 454 38,481 St Joe Co. (The) 852 39,848 Lumber Liquidators Holdings, Inc.* 791 18,019 139,219 MarineMax, Inc.* 605 31,115 Road & Rail - 0.6% Monro, Inc. 912 56,854 ArcBest Corp. 693 53,943 ODP Corp. (The)* 1,460 63,860 Heartland Express, Inc. 1,332 24,176 Rent-A-Center, Inc. 1,338 82,702 Marten Transport Ltd. 1,605 27,381 Sally Beauty Holdings, Inc.* 3,084 67,262 Saia, Inc.* 720 165,715 Shoe Carnival, Inc. 236 15,932 271,215 Signet Jewelers Ltd.* 1,428 86,508 Semiconductors & Semiconductor Equipment - 2.3% Sleep Number Corp.* 692 77,151 Advanced Energy Industries, Inc. 1,047 106,804 Sonic Automotive, Inc., Class A 638 30,771 Axcelis Technologies, Inc.* 921 38,166 Zumiez, Inc.* 572 25,065 CEVA, Inc.* 622 27,909 1,630,688 Cohu, Inc.* 1,287 47,902 Technology Hardware, Storage & Peripherals - 0.3% Diodes, Inc.* 1,149 86,945 3D Systems Corp.* 3,394 99,818 DSP Group, Inc.* 600 9,432 Diebold Nixdorf, Inc.* 2,134 28,894 FormFactor, Inc.* 2,121 74,765 128,712 Ichor Holdings Ltd.* 765 43,039 Textiles, Apparel & Luxury Goods - 1.2% Kulicke & Soffa Industries, Inc. 1,695 87,971 Crocs, Inc.* 1,788 181,017 MaxLinear, Inc.* 1,853 70,451 Fossil Group, Inc.* 1,278 18,045 Onto Innovation, Inc.* 1,334 95,741 G-III Apparel Group Ltd.* 1,189 39,285 PDF Solutions, Inc.* 799 13,935 Kontoor Brands, Inc. 1,284 82,202 Photronics, Inc.* 1,731 23,438 Movado Group, Inc. 454 12,589 Power Integrations, Inc. 1,641 134,874 Oxford Industries, Inc. 462 44,237 Rambus, Inc.* 3,049 59,638 Steven Madden Ltd. 2,113 87,478 SMART Global Holdings, Inc.* 387 18,344 Unifi, Inc.* 409 11,260 Ultra Clean Holdings, Inc.* 1,197 67,427 Vera Bradley, Inc.* 603 6,922 Veeco Instruments, Inc.* 1,357 32,324 Wolverine World Wide, Inc. 2,252 82,108 1,039,105 565,143 Software - 1.6% Thrifts & Mortgage Finance - 1.4% 8x8, Inc.* 2,931 69,025 Axos Financial, Inc.* 1,403 66,516 Agilysys, Inc.* 555 28,189 Capitol Federal Financial, Inc. 3,526 45,626 Alarm.com Holdings, Inc.* 1,233 100,958 Flagstar Bancorp, Inc. 1,294 59,265 Bottomline Technologies DE, Inc.* 1,061 39,660 HomeStreet, Inc. 595 26,787 Ebix, Inc.(b) 644 17,646 Meta Financial Group, Inc. 880 46,649 InterDigital, Inc. 840 67,855 Mr Cooper Group, Inc.* 1,930 66,759 LivePerson, Inc.* 1,720 94,514 NMI Holdings, Inc., Class A* 2,329 56,339 MicroStrategy, Inc., Class A*(b) 207 97,290 Northfield Bancorp, Inc. 1,282 21,704 OneSpan, Inc.* 927 24,241 Northwest Bancshares, Inc. 3,466 49,079 Progress Software Corp. 1,206 53,751 Provident Financial Services, Inc. 1,974 49,863 SPS Commerce, Inc.* 973 91,326 TrustCo Bank Corp. 527 20,614 Xperi Holding Corp. 2,860 61,261 Walker & Dunlop, Inc. 800 81,232 745,716 WSFS Financial Corp. 1,297 69,013 Specialty Retail - 3.5% 659,446 Aaron's Co., Inc. (The) 935 33,632 Tobacco - 0.2% Abercrombie & Fitch Co., Class A* 1,704 72,761 Universal Corp. 670 37,547

See accompanying notes to the financial statements.

Ultra SmallCap600 Schedule of Portfolio Investments May 31, 2021

Investments Shares Value ($)

Vector Group Ltd. 3,493 48,029 * Non-income producing security. 85,576 (a) All or a portion of these securities are segregated in connection Trading Companies & Distributors - 0.6% with obligations for swaps with a total value of $3,015,608. Applied Industrial Technologies, (b) The security or a portion of this security is on loan at May 31, Inc. 1,057 103,544 2021. The total value of securities on loan at May 31, 2021 was Boise Cascade Co. 1,070 70,609 $565,914, collateralized in the form of cash with a value of $277,381 that was reinvested in the securities shown in the DXP Enterprises, Inc.* 447 13,808 Securities Lending Reinvestment section of the Schedule of GMS, Inc.* 1,169 53,529 Investments and $326,643 of collateral in the form of U.S. NOW, Inc.* 3,003 31,441 Government Treasury Securities, interest rates ranging from Veritiv Corp.* 341 20,944 0.00% – 6.88%, and maturity dates ranging from June 24, 2021 293,875 – November 15, 2050. The total value of collateral is $604,024. Water Utilities - 0.3% (c) Represents less than 0.05% of net assets. American States Water Co. 1,008 80,005 (d) The security was purchased with cash collateral held from California Water Service Group 1,375 78,155 securities on loan at May 31, 2021. The total value of securities 158,160 purchased was $277,381. Wireless Telecommunication Services - 0.2% (e) The Fund invests in Repurchase Agreements jointly with other Shenandoah Telecommunications funds in the Trust. See "Repurchase Agreements" in the Notes Co. 1,363 68,000 to Financial Statements to view the details of each individual agreement and counterparty as well as a description of the Spok Holdings, Inc. 487 5,683 securities subject to repurchase. 73,683 TOTAL COMMON STOCKS

(COST $25,831,020) 28,857,779 As of May 31, 2021, the gross unrealized appreciation (depreciation) of investments based on the aggregate cost of investment securities and derivative instruments, if applicable, for federal income tax purposes was SECURITIES LENDING REINVESTMENTS(d) - 0.6% as follows:

INVESTMENT COMPANIES - 0.6% Aggregate gross unrealized appreciation $ 15,508,497

Aggregate gross unrealized depreciation (1,169,759) BlackRock Liquidity FedFund, Institutional Class Net unrealized appreciation $ 14,338,738 0.03% (Cost $277,381) 277,381 277,381 Federal income tax cost $ 31,667,036

Principal Investments Amount ($) Value ($)

SHORT-TERM INVESTMENTS - 12.0%

REPURCHASE AGREEMENTS(e) - 12.0% Repurchase Agreements with various counterparties, rates 0.00% - 0.01%, dated 5/28/2021, due 6/1/2021, total to be received $5,549,368 (Cost $5,549,368) 5,549,368 5,549,368

Total Investments - 75.2% (Cost $31,657,769) 34,684,528 Other assets less liabilities - 24.8% 11,424,345 Net Assets - 100.0% 46,108,873

See accompanying notes to the financial statements.

Ultra SmallCap600 Schedule of Portfolio Investments May 31, 2021

Swap Agreementsa Ultra SmallCap600 had the following open non-exchange traded total return swap agreements as of May 31, 2021:

Financial Cash Instruments Collateral for for the Benefit the Benefit of Value and of (the Fund)/ (the Fund)/ Unrealized the the Notional Termination Rate Paid Appreciationd Counterparty Counterparty Net Amounte Amount ($) Dateb Counterparty (Received)c Underlying Instrument ($) ($) ($) ($) Bank of 13,141,813 12/6/2021 America NA 0.37% S&P SmallCap 600® 3,132,263 (3,076,699) — 55,564

31,406,450 11/7/2022 Citibank NA 0.41% S&P SmallCap 600® 1,008,988 — (1,008,988 ) —

Morgan Stanley & Co. International 10,098,850 11/7/2022 plc (0.10)% S&P SmallCap 600® 667,623 (667,623 ) — —

Societe 1,620,261 11/22/2021 Generale 0.50% S&P SmallCap 600® 2,862,945 (2,775,745 ) — 87,200

7,102,533 12/6/2021 UBS AG 0.40% S&P SmallCap 600® 3,649,427 — (3,589,000 ) 60,427

63,369,907 11,321,246

Total Unrealized Appreciation 11,321,246

See accompanying notes to the financial statements.

UltraPro MidCap400 Schedule of Portfolio Investments May 31, 2021

Investments Shares Value ($) Investments Shares Value ($) Beverages - 0.2% COMMON STOCKS(a) - 45.9% Boston Beer Co., Inc. (The), Class A* 110 116,398 Aerospace & Defense - 0.4% Axon Enterprise, Inc.* 765 107,551 Biotechnology - 0.8% Curtiss-Wright Corp. 492 61,658 Arrowhead Pharmaceuticals, Inc.* 1,246 90,459 Hexcel Corp.* 1,002 59,579 Emergent BioSolutions, Inc.* 544 32,994 Mercury Systems, Inc.* 676 44,244 Exelixis, Inc.* 3,743 84,405 273,032 Halozyme Therapeutics, Inc.*(b) 1,525 63,150 Air Freight & Logistics - 0.3% Ligand Pharmaceuticals, Inc.* 199 23,422 XPO Logistics, Inc.* 1,225 179,989 Neurocrine Biosciences, Inc.* 1,127 108,440 United Therapeutics Corp.* 533 99,085 Airlines - 0.1% 501,955 JetBlue Airways Corp.* 3,792 76,219 Building Products - 0.9% Builders FirstSource, Inc.* 2,477 110,326 Auto Components - 0.8% Lennox International, Inc. 413 144,521 Adient plc* 1,128 56,468 Owens Corning 1,257 134,059 Dana, Inc. 1,736 47,097 Simpson Manufacturing Co., Inc. 522 58,631 Fox Factory Holding Corp.* 500 77,740 Trex Co., Inc.* 1,390 135,400 Gentex Corp. 2,924 103,802 582,937 Goodyear Tire & Rubber Co. Capital Markets - 1.2% (The)* 2,799 55,504 Affiliated Managers Group, Inc. 513 84,132 Lear Corp. 655 126,651 Evercore, Inc., Class A 505 73,659 Visteon Corp.* 337 41,269 FactSet Research Systems, Inc. 456 152,468 508,531 Federated Hermes, Inc., Class B 1,127 35,839 Automobiles - 0.3% Interactive Brokers Group, Inc., Harley-Davidson, Inc. 1,840 89,185 Class A 969 65,175 Thor Industries, Inc. 664 81,672 Janus Henderson Group plc 2,048 78,869 170,857 Jefferies Financial Group, Inc. 2,430 78,076 Banks - 3.5% SEI Investments Co. 1,430 90,719 Associated Banc-Corp. 1,834 42,164 Stifel Financial Corp. 1,258 87,154 BancorpSouth Bank 1,157 35,381 746,091 Bank of Hawaii Corp. 480 43,075 Chemicals - 1.3% Bank OZK 1,450 61,930 Ashland Global Holdings, Inc. 654 62,025 Cathay General Bancorp 896 37,345 Avient Corp. 1,095 56,918 CIT Group, Inc. 1,183 62,675 Cabot Corp. 678 43,107 Commerce Bancshares, Inc. 1,263 98,363 Chemours Co. (The) 1,982 71,213 Cullen/Frost Bankers, Inc. 675 81,479 Ingevity Corp.* 486 40,003 East West Bancorp, Inc. 1,698 126,976 Minerals Technologies, Inc. 406 35,322 First Financial Bankshares, Inc. 1,707 85,948 NewMarket Corp. 89 30,548 First Horizon Corp. 6,663 127,063 Olin Corp. 1,714 83,797 FNB Corp. 3,857 51,722 RPM International, Inc. 1,559 145,813 Fulton Financial Corp. 1,950 33,794 Scotts Miracle-Gro Co. (The) 488 106,077 Glacier Bancorp, Inc. 1,146 66,755 Sensient Technologies Corp. 508 44,069 Hancock Whitney Corp. 1,041 51,540 Valvoline, Inc. 2,175 71,775 Home BancShares, Inc. 1,822 49,850 790,667 International Bancshares Corp. 670 31,088 Commercial Services & Supplies - 0.8% PacWest Bancorp 1,401 63,283 Brink's Co. (The) 594 44,793 Pinnacle Financial Partners, Inc. 911 82,828 Clean Harbors, Inc.* 606 56,419 Prosperity Bancshares, Inc. 1,113 83,753 Healthcare Services Group, Inc. 895 26,841 Signature Bank 684 170,829 Herman Miller, Inc. 709 33,890 Sterling Bancorp 2,320 61,805 IAA, Inc.* 1,614 91,950 Synovus Financial Corp. 1,782 87,532 KAR Auction Services, Inc.*(b) 1,556 27,915 TCF Financial Corp. 1,830 86,925 MSA Safety, Inc. 435 73,106 Texas Capital Bancshares, Inc.* 605 41,672 Stericycle, Inc.* 1,100 86,416 Trustmark Corp. 758 25,431 Tetra Tech, Inc. 650 77,655 UMB Financial Corp. 519 50,193 518,985 Umpqua Holdings Corp. 2,643 50,428 Communications Equipment - 0.4% United Bankshares, Inc. 1,546 63,680 Ciena Corp.* 1,862 98,444 Valley National Bancorp 4,865 69,667 Lumentum Holdings, Inc.* 909 73,965 Webster Financial Corp. 1,084 61,441 NetScout Systems, Inc.* 880 25,872 Wintrust Financial Corp. 684 55,007 Viasat, Inc.* 816 43,395 2,141,622 241,676

See accompanying notes to the financial statements.

UltraPro MidCap400 Schedule of Portfolio Investments May 31, 2021

Investments Shares Value ($) Investments Shares Value ($) Construction & Engineering - 0.6% Vontier Corp.* 2,023 70,967 AECOM* 1,772 115,198 921,806 Dycom Industries, Inc.* 367 27,495 Energy Equipment & Services - 0.1% EMCOR Group, Inc. 656 82,728 ChampionX Corp.* 2,238 59,307 Fluor Corp.* 1,504 27,824 MasTec, Inc.* 675 78,523 Entertainment - 0.1% Valmont Industries, Inc. 254 62,992 Cinemark Holdings, Inc.* 1,294 29,322 394,760 World Wrestling Entertainment, Construction Materials - 0.1% Inc., Class A 562 31,382 Eagle Materials, Inc.* 504 73,967 60,704 Equity Real Estate Investment Trusts (REITs) - 4.2% Consumer Finance - 0.4% American Campus Communities, FirstCash, Inc. 490 39,063 Inc. 1,653 77,956 LendingTree, Inc.* 131 26,887 Apartment Income REIT Corp. 1,785 83,145 Navient Corp. 2,204 40,267 Brixmor Property Group, Inc. 3,559 80,825 PROG Holdings, Inc. 814 42,914 Camden Property Trust 1,171 146,820 SLM Corp. 4,023 81,466 CoreSite Realty Corp. 512 62,080 230,597 Corporate Office Properties Trust 1,347 37,177 Containers & Packaging - 0.4% Cousins Properties, Inc.(b) 1,782 66,094 AptarGroup, Inc. 783 115,344 CyrusOne, Inc. 1,445 106,569 Greif, Inc., Class A 318 19,624 Douglas Emmett, Inc. 1,979 68,711 Silgan Holdings, Inc. 937 39,476 EastGroup Properties, Inc. 478 75,562 Sonoco Products Co. 1,207 81,496 EPR Properties* 896 44,038 255,940 First Industrial Realty Trust, Inc. 1,548 78,391 Diversified Consumer Services - 0.5% Healthcare Realty Trust, Inc. 1,677 50,880 Adtalem Global Education, Inc.* 600 21,828 Highwoods Properties, Inc. 1,248 57,009 Graham Holdings Co., Class B 49 32,464 Hudson Pacific Properties, Inc. 1,811 52,501 Grand Canyon Education, Inc.* 564 51,290 JBG SMITH Properties 1,327 42,743 H&R Block, Inc. 2,201 54,629 Kilroy Realty Corp. 1,268 89,026 Service Corp. International 2,033 107,790 Lamar Advertising Co., Class A 1,039 108,908 Strategic Education, Inc. 294 20,827 Life Storage, Inc. 906 90,093 WW International, Inc.* 571 22,440 Macerich Co. (The) 1,392 22,147 311,268 Medical Properties Trust, Inc. 6,960 147,343 Diversified Telecommunication Services - 0.1% National Retail Properties, Inc. 2,102 97,428 Iridium Communications, Inc.* 1,419 54,220 National Storage Affiliates Trust 776 35,774 Omega Healthcare Investors, Inc. 2,781 101,840 Electric Utilities - 0.5% Park Hotels & Resorts, Inc.* 2,835 58,940 ALLETE, Inc. 623 42,918 Pebblebrook Hotel Trust 1,575 35,201 Hawaiian Electric Industries, Inc. 1,311 56,439 Physicians Realty Trust 2,526 45,796 IDACORP, Inc. 605 59,260 PotlatchDeltic Corp. 805 48,461 OGE Energy Corp. 2,399 82,765 PS Business Parks, Inc. 240 37,190 PNM Resources, Inc. 1,030 50,594 Rayonier, Inc. 1,654 63,166 291,976 Rexford Industrial Realty, Inc. 1,577 87,098 Electrical Equipment - 0.8% Sabra Health Care REIT, Inc. 2,528 44,164 Acuity Brands, Inc. 432 80,244 Service Properties Trust 1,979 24,856 EnerSys 513 48,345 SL Green Realty Corp. 831 65,832 Hubbell, Inc. 651 124,107 Spirit Realty Capital, Inc. 1,378 65,124 nVent Electric plc 2,018 65,666 STORE Capital Corp. 2,877 98,969 Regal Beloit Corp. 487 69,266 Urban Edge Properties 1,322 25,581 Sunrun, Inc.*(b) 1,921 85,907 Weingarten Realty Investors 1,439 47,156 473,535 2,570,594 Electronic Equipment, Instruments & Components - 1.5% Food & Staples Retailing - 0.4% Arrow Electronics, Inc.* 896 107,816 BJ's Wholesale Club Holdings, Avnet, Inc. 1,192 52,520 Inc.* 1,647 73,769 Belden, Inc. 534 27,020 Casey's General Stores, Inc. 442 97,611 Cognex Corp. 2,112 167,672 Grocery Outlet Holding Corp.* 1,039 35,399 Coherent, Inc.* 295 77,470 Sprouts Farmers Market, Inc.* 1,414 37,613 II-VI, Inc.*(b) 1,257 84,684 244,392 Jabil, Inc. 1,623 91,618 Food Products - 0.9% Littelfuse, Inc. 294 76,805 Darling Ingredients, Inc.* 1,950 133,497 National Instruments Corp. 1,579 64,423 Flowers Foods, Inc. 2,362 56,901 SYNNEX Corp. 494 62,540 Hain Celestial Group, Inc. Vishay Intertechnology, Inc. 1,590 38,271 (The)*(b) 982 40,026

See accompanying notes to the financial statements.

UltraPro MidCap400 Schedule of Portfolio Investments May 31, 2021

Investments Shares Value ($) Investments Shares Value ($) Ingredion, Inc. 805 76,419 Wyndham Hotels & Resorts, Inc. 1,117 83,842 Lancaster Colony Corp. 235 43,867 805,949 Pilgrim's Pride Corp.* 584 14,039 Household Durables - 0.7% Post Holdings, Inc.* 719 83,066 Helen of Troy Ltd.* 294 61,881 Sanderson Farms, Inc. 237 38,572 KB Home 1,068 49,993 Tootsie Roll Industries, Inc. 212 6,633 Taylor Morrison Home Corp., Class TreeHouse Foods, Inc.* 670 32,636 A* 1,546 45,792 525,656 Tempur Sealy International, Inc. 2,289 88,126 Gas Utilities - 0.6% Toll Brothers, Inc. 1,344 87,683 National Fuel Gas Co. 1,094 56,768 TopBuild Corp.* 396 78,428 New Jersey Resources Corp. 1,154 49,299 Tri Pointe Homes, Inc.* 1,430 34,492 ONE Gas, Inc. 639 47,490 446,395 Southwest Gas Holdings, Inc. 686 45,283 Household Products - 0.1% Spire, Inc. 619 44,357 Energizer Holdings, Inc. 696 32,044 UGI Corp. 2,501 115,171 358,368 Industrial Conglomerates - 0.2% Health Care Equipment & Supplies - 1.5% Carlisle Cos., Inc. 640 123,085 Cantel Medical Corp.* 451 36,680 Envista Holdings Corp.* 1,916 83,614 Insurance - 1.9% Globus Medical, Inc., Class A* 929 66,944 Alleghany Corp.* 167 119,667 Haemonetics Corp.* 609 34,384 American Financial Group, Inc. 838 111,504 Hill-Rom Holdings, Inc. 795 88,468 Brighthouse Financial, Inc.* 1,047 50,947 ICU Medical, Inc.* 238 49,518 Brown & Brown, Inc. 2,809 147,529 Integra LifeSciences Holdings CNO Financial Group, Inc. 1,616 42,921 Corp.* 851 58,762 First American Financial Corp. 1,320 84,889 LivaNova plc* 582 48,620 Hanover Insurance Group, Inc. Masimo Corp.* 610 131,516 (The) 437 60,957 Neogen Corp.* 639 58,986 Kemper Corp. 740 55,404 NuVasive, Inc.* 617 42,079 Kinsale Capital Group, Inc. 257 42,780 Penumbra, Inc.* 409 101,886 Mercury General Corp. 318 20,225 Quidel Corp.* 462 54,567 Old Republic International Corp. 3,393 89,100 STAAR Surgical Co.* 560 81,777 Primerica, Inc. 472 76,563 937,801 Reinsurance Group of America, Health Care Providers & Services - 1.4% Inc. 817 102,967 Acadia Healthcare Co., Inc.* 1,069 68,801 RenaissanceRe Holdings Ltd. 608 93,705 Amedisys, Inc.* 394 101,798 RLI Corp. 479 50,525 Chemed Corp. 193 94,829 Selective Insurance Group, Inc. 716 53,893 Encompass Health Corp. 1,190 102,090 1,203,576 HealthEquity, Inc.* 995 82,704 Interactive Media & Services - 0.1% LHC Group, Inc.* 378 74,409 TripAdvisor, Inc.* 1,157 50,272 Molina Healthcare, Inc.* 697 175,198 Yelp, Inc.* 846 33,933 Patterson Cos., Inc. 1,044 33,972 84,205 Progyny, Inc.* 442 28,306 Internet & Direct Marketing Retail - 0.1% R1 RCM, Inc.* 1,653 38,267 Grubhub, Inc.* 1,118 67,203 Tenet Healthcare Corp.* 1,273 85,176 885,550 IT Services - 0.8% Hotels, Restaurants & Leisure - 1.3% Alliance Data Systems Corp. 597 72,267 Boyd Gaming Corp.* 964 62,072 Concentrix Corp.* 499 76,207 Choice Hotels International, Inc.* 346 41,835 Genpact Ltd. 2,091 95,643 Churchill Downs, Inc. 416 83,005 LiveRamp Holdings, Inc.* 805 40,443 Cracker Barrel Old Country Store, Maximus, Inc. 739 68,483 Inc. 285 44,950 Sabre Corp.*(b) 3,810 52,769 Jack in the Box, Inc. 272 30,899 WEX, Inc.* 530 103,832 Marriott Vacations Worldwide 509,644 Corp.* 493 84,939 Leisure Products - 0.6% Papa John's International, Inc. 395 37,110 Brunswick Corp. 933 95,381 Scientific Games Corp.* 675 48,965 Mattel, Inc.* 4,177 88,594 Six Flags Entertainment Corp.* 908 41,250 Polaris, Inc. 698 91,591 Texas Roadhouse, Inc. 785 79,057 YETI Holdings, Inc.*(b) 900 78,840 Travel + Leisure Co. 1,032 67,235 354,406 Wendy's Co. (The) 2,147 49,853 Life Sciences Tools & Services - 1.0% Wingstop, Inc. 357 50,937 Bio-Techne Corp. 465 192,431 Medpace Holdings, Inc.* 329 54,963

See accompanying notes to the financial statements.

UltraPro MidCap400 Schedule of Portfolio Investments May 31, 2021

Investments Shares Value ($) Investments Shares Value ($) PRA Health Sciences, Inc.* 775 132,463 World Fuel Services Corp. 757 23,263 Repligen Corp.* 611 111,575 323,475 Syneos Health, Inc.* 1,076 94,580 Paper & Forest Products - 0.1% 586,012 Louisiana-Pacific Corp. 1,277 85,827 Machinery - 2.4% AGCO Corp. 740 102,394 Personal Products - 0.1% Colfax Corp.*(b) 1,383 61,129 Coty, Inc., Class A* 3,404 30,330 Crane Co. 593 56,626 Nu Skin Enterprises, Inc., Class A 610 36,697 Donaldson Co., Inc. 1,511 93,062 67,027 Flowserve Corp. 1,563 66,256 Pharmaceuticals - 0.3% Graco, Inc. 2,024 153,257 Jazz Pharmaceuticals plc* 720 128,254 ITT, Inc. 1,039 97,562 Nektar Therapeutics* 2,185 39,483 Kennametal, Inc. 1,001 37,548 167,737 Lincoln Electric Holdings, Inc. 715 91,935 Professional Services - 0.8% Middleby Corp. (The)* 669 109,903 ASGN, Inc.* 637 65,668 Nordson Corp. 647 143,433 CACI International, Inc., Class A* 302 76,998 Oshkosh Corp. 820 107,781 CoreLogic, Inc. 877 69,722 Terex Corp. 831 43,519 FTI Consulting, Inc.* 411 56,533 Timken Co. (The) 817 72,264 Insperity, Inc. 425 39,181 Toro Co. (The) 1,293 143,639 KBR, Inc. 1,689 68,810 Trinity Industries, Inc. 985 27,363 ManpowerGroup, Inc. 660 79,853 Woodward, Inc. 704 89,535 Science Applications International 1,497,206 Corp. 698 62,722 Marine - 0.1% 519,487 Kirby Corp.* 721 47,103 Real Estate Management & Development - 0.2% Jones Lang LaSalle, Inc.* 612 123,777 Media - 0.5% Cable One, Inc. 66 119,827 Road & Rail - 0.5% John Wiley & Sons, Inc., Class A 523 33,148 Avis Budget Group, Inc.* 619 54,360 New York Times Co. (The), Class Knight-Swift Transportation A 1,740 74,507 Holdings, Inc. 1,471 70,211 TEGNA, Inc. 2,636 51,112 Landstar System, Inc. 460 78,430 278,594 Ryder System, Inc. 644 52,673 Metals & Mining - 1.1% Werner Enterprises, Inc. 685 32,873 Cleveland-Cliffs, Inc.*(b) 5,507 110,801 288,547 Commercial Metals Co. 1,439 45,285 Semiconductors & Semiconductor Equipment - 1.8% Compass Minerals International, Amkor Technology, Inc. 1,285 27,114 Inc. 407 28,449 Brooks Automation, Inc. 891 90,962 Reliance Steel & Aluminum Co. 762 128,069 Cirrus Logic, Inc.* 697 54,415 Royal Gold, Inc. 787 97,407 CMC Materials, Inc. 350 54,016 Steel Dynamics, Inc. 2,404 150,082 Cree, Inc.* 1,382 138,214 United States Steel Corp.(b) 3,150 81,680 First Solar, Inc.* 1,016 77,328 Worthington Industries, Inc. 415 27,544 Lattice Semiconductor Corp.* 1,646 87,353 669,317 MKS Instruments, Inc. 662 124,608 Multiline Retail - 0.3% Semtech Corp.* 781 49,203 Kohl's Corp. 1,891 104,931 Silicon Laboratories, Inc.* 529 72,240 Nordstrom, Inc.* 1,305 43,770 SolarEdge Technologies, Inc.* 620 159,966 Ollie's Bargain Outlet Holdings, Synaptics, Inc.* 419 52,932 Inc.*(b) 684 59,125 Universal Display Corp. 513 110,736 207,826 1,099,087 Multi-Utilities - 0.3% Software - 1.7% Black Hills Corp. 754 49,606 ACI Worldwide, Inc.* 1,404 53,717 MDU Resources Group, Inc. 2,406 80,986 Aspen Technology, Inc.* 811 110,677 NorthWestern Corp. 607 38,453 Blackbaud, Inc.* 581 41,071 169,045 CDK Global, Inc. 1,463 76,574 Oil, Gas & Consumable Fuels - 0.5% Ceridian HCM Holding, Inc.* 1,572 140,631 Antero Midstream Corp.(b) 3,434 32,966 CommVault Systems, Inc.* 564 42,960 Cimarex Energy Co. 1,235 83,671 Fair Isaac Corp.* 349 176,615 CNX Resources Corp.* 2,635 35,889 J2 Global, Inc.* 510 63,510 EQT Corp.* 3,344 69,823 Manhattan Associates, Inc.* 765 104,025 Equitrans Midstream Corp. 4,893 40,318 Paylocity Holding Corp.* 450 76,424 Murphy Oil Corp. 1,731 37,545 Qualys, Inc.* 405 39,155

See accompanying notes to the financial statements.

UltraPro MidCap400 Schedule of Portfolio Investments May 31, 2021

Investments Shares Value ($) Principal Sailpoint Technologies Holdings, Investments Amount ($) Value ($) Inc.* 1,097 51,043 Teradata Corp.* 1,307 62,566 SHORT-TERM INVESTMENTS - 10.0% 1,038,968 Specialty Retail - 1.4% REPURCHASE AGREEMENTS(d) - 10.0% American Eagle Outfitters, Inc.(b) 1,795 63,597 Repurchase Agreements with various AutoNation, Inc.* 662 67,610 counterparties, rates 0.00% - Dick's Sporting Goods, Inc. 789 76,951 0.01%, dated 5/28/2021, due Five Below, Inc.* 670 123,360 6/1/2021, total to be received Foot Locker, Inc. 1,251 79,176 $6,208,575 Lithia Motors, Inc., Class A(b) 357 125,661 (Cost $6,208,575) 6,208,575 6,208,575 Murphy USA, Inc. 305 41,117 RH* 196 125,646 Urban Outfitters, Inc.* 820 32,111 Williams-Sonoma, Inc. 919 155,807 891,036 Total Investments - 56.0% Technology Hardware, Storage & Peripherals - 0.2% (Cost $32,114,922) 34,627,124 NCR Corp.* 1,559 75,144 Other assets less liabilities - 44.0% 27,232,066 Xerox Holdings Corp. 2,001 46,923 Net Assets - 100.0% 61,859,190

122,067 Textiles, Apparel & Luxury Goods - 0.6% Capri Holdings Ltd.* 1,812 102,759 Carter's, Inc. 527 53,880 Columbia Sportswear Co. 366 37,599 Deckers Outdoor Corp.* 337 113,043 Skechers USA, Inc., Class A* 1,641 77,948 385,229 Thrifts & Mortgage Finance - 0.4% Essent Group Ltd. 1,355 64,823 MGIC Investment Corp. 4,064 59,822 New York Community Bancorp, Inc. 5,588 66,888 Washington Federal, Inc. 890 29,673 221,206 Trading Companies & Distributors - 0.4% GATX Corp. 420 41,437 MSC Industrial Direct Co., Inc., Class A 562 53,053 Univar Solutions, Inc.* 2,032 55,047 Watsco, Inc. 394 114,811 264,348 Water Utilities - 0.2% Essential Utilities, Inc. 2,677 127,961

Wireless Telecommunication Services - 0.1% Telephone and Data Systems, Inc. 1,194 30,710

TOTAL COMMON STOCKS (COST $25,825,297) 28,337,499

SECURITIES LENDING REINVESTMENTS(c) - 0.1%

INVESTMENT COMPANIES - 0.1% BlackRock Liquidity FedFund, Institutional Class 0.03% (Cost $81,050) 81,050 81,050

See accompanying notes to the financial statements.

UltraPro MidCap400 Schedule of Portfolio Investments May 31, 2021

* Non-income producing security. (a) All or a portion of these securities are segregated in connection with obligations for swaps with a total value of $5,475,236. (b) The security or a portion of this security is on loan at May 31, 2021. The total value of securities on loan at May 31, 2021 was $588,400, collateralized in the form of cash with a value of $81,050 that was reinvested in the securities shown in the Securities Lending Reinvestment section of the Schedule of Investments and $531,708 of collateral in the form of U.S. Government Treasury Securities, interest rates ranging from 0.00% – 6.88%, and maturity dates ranging from June 30, 2021 – November 15, 2050. The total value of collateral is $612,758. (c) The security was purchased with cash collateral held from securities on loan at May 31, 2021. The total value of securities purchased was $81,050. (d) The Fund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" in the Notes to Financial Statements to view the details of each individual agreement and counterparty as well as a description of the securities subject to repurchase.

Aggregate gross unrealized appreciation $ 27,235,894

Aggregate gross unrealized depreciation (588,869)

Net unrealized appreciation $ 26,647,025

Federal income tax cost $ 32,932,514

See accompanying notes to the financial statements.

UltraPro MidCap400 Schedule of Portfolio Investments May 31, 2021

Futures Contracts Purchased UltraPro MidCap400 had the following open long futures contracts as of May 31, 2021: Value and Number of Expiration Trading Unrealized Contracts Date Currency Notional Amount Appreciation S&P Midcap 400 E-Mini Index 12 6/18/2021 USD $ 3,272,040 $ 151,530

Swap Agreementsa UltraPro MidCap400 had the following open non-exchange traded total return swap agreements as of May 31, 2021:

Financial Cash Instruments Collateral for for the the Benefit of Value and Benefit of (the (the Fund)/ Unrealized Fund)/ the the Notional Termination Rate Paid Appreciationd Counterparty Counterparty Net Amounte Amount ($) Dateb Counterparty (Received)c Underlying Instrument ($) ($) ($) ($) Bank of 15,360,942 11/8/2021 America NA 0.50% S&P MidCap 400® 4,882,645 (4,882,645) — —

BNP Paribas 9,906,062 11/8/2021 SA 0.50% S&P MidCap 400® 3,809,377 (3,809,377) — —

20,504,894 12/6/2021 Citibank NA 0.46% S&P MidCap 400® 3,253,022 — (2,990,000) 263,022

Credit Suisse 782,775 11/8/2021 International 0.60% S&P MidCap 400® 3,683,558 — (3,600,000) 83,558

Goldman Sachs 9,427,440 11/8/2021 International 0.51% S&P MidCap 400® 2,480,205 (2,480,205) — —

Morgan Stanley & Co. International 14,689,992 11/7/2022 plc (0.07)% S&P MidCap 400® 791,107 (791,107) — —

Societe 68,360,556 11/7/2022 Generale 0.32% S&P MidCap 400® 1,730,297 (1,729,125) — 1,172

14,949,099 11/8/2021 UBS AG 0.45% S&P MidCap 400® 4,170,674 — (4,164,000) 6,674

153,981,760 24,800,885

Total Unrealized Appreciation 24,800,885

Abbreviations

USD U.S. Dollar

See accompanying notes to the financial statements.

UltraPro Russell2000 Schedule of Portfolio Investments May 31, 2021

Investments Shares Value ($) Investments Shares Value ($) Banks - 4.6% COMMON STOCKS(a) - 52.5% 1st Constitution Bancorp 681 14,369 1st Source Corp. 1,230 60,848 Aerospace & Defense - 0.4% ACNB Corp. 637 18,346 AAR Corp.* 2,519 105,168 Allegiance Bancshares, Inc. 1,419 57,555 Aerojet Rocketdyne Holdings, Inc. 5,429 263,035 Altabancorp 1,192 54,832 AeroVironment, Inc.* 1,630 178,697 Amalgamated Financial Corp. 989 16,091 Astronics Corp.* 1,785 30,274 Amerant Bancorp, Inc.* 1,707 41,173 Ducommun, Inc.* 807 43,392 American National Bankshares, Kaman Corp. 2,075 111,677 Inc. 798 27,675 Kratos Defense & Security Ameris Bancorp 4,982 273,711 Solutions, Inc.* 9,121 228,116 Ames National Corp. 658 16,647 Maxar Technologies, Inc. 5,348 166,323 Arrow Financial Corp. 992 36,803 Moog, Inc., Class A 2,184 196,997 Atlantic Capital Bancshares, Inc.* 1,517 42,658 National Presto Industries, Inc. 381 38,641 Atlantic Union Bankshares Corp. 5,855 240,172 PAE, Inc.* 4,439 36,045 Auburn National Bancorp, Inc.(b) 172 6,570 Park Aerospace Corp. 1,481 22,837 Banc of California, Inc. 3,359 58,816 Parsons Corp.* 1,692 67,020 BancFirst Corp. 1,407 97,041 Triumph Group, Inc.* 3,865 74,285 Bancorp, Inc. (The)* 3,870 93,809 Vectrus, Inc.* 864 44,081 BancorpSouth Bank 7,434 227,332 1,606,588 Bank First Corp.(b) 473 33,687 Air Freight & Logistics - 0.2% Bank of Commerce Holdings 1,195 17,626 Air Transport Services Group, Inc.* 4,416 109,693 Bank of Marin Bancorp 989 33,339 Atlas Air Worldwide Holdings, Bank of NT Butterfield & Son Ltd. Inc.* 1,933 144,840 (The) 3,766 143,635 Echo Global Logistics, Inc.* 1,966 67,159 Bank of Princeton (The) 427 12,567 Forward Air Corp. 2,057 199,303 Bank7 Corp. 217 3,956 Hub Group, Inc., Class A* 2,461 171,802 BankFinancial Corp. 990 10,940 Radiant Logistics, Inc.* 2,939 22,601 BankUnited, Inc. 6,897 329,608 715,398 Bankwell Financial Group, Inc. 495 14,137 Airlines - 0.2% Banner Corp. 2,609 152,705 Allegiant Travel Co.* 984 217,917 Bar Harbor Bankshares 1,105 33,636 Hawaiian Holdings, Inc.* 3,602 92,932 BayCom Corp.* 809 14,983 Mesa Air Group, Inc.*(b) 2,566 24,941 BCB Bancorp, Inc. 1,079 15,764 SkyWest, Inc.* 3,707 181,754 Berkshire Hills Bancorp, Inc. 3,403 94,433 Spirit Airlines, Inc.* 7,374 263,326 Boston Private Financial Holdings, 780,870 Inc. 6,158 94,402 Auto Components - 0.8% Brookline Bancorp, Inc. 5,822 98,159 Adient plc* 7,089 354,875 Bryn Mawr Bank Corp. 1,484 70,935 American Axle & Manufacturing Business First Bancshares, Inc. 1,446 35,282 Holdings, Inc.* 8,440 94,528 Byline Bancorp, Inc. 1,828 42,190 C&F Financial Corp. 256 12,667 Cooper Tire & Rubber Co. 3,790 225,050 Cooper-Standard Holdings, Inc.* 1,255 37,349 Cadence Bancorp 9,262 207,284 California Bancorp* 567 10,722 Dana, Inc. 10,869 294,876 Dorman Products, Inc.* 1,994 204,146 Cambridge Bancorp 483 41,417 Fox Factory Holding Corp.* 3,107 483,076 Camden National Corp. 1,104 52,573 Gentherm, Inc.* 2,463 178,641 Capital Bancorp, Inc.* 598 13,150 Goodyear Tire & Rubber Co. Capital City Bank Group, Inc. 1,009 27,041 (The)* 17,367 344,388 Capstar Financial Holdings, Inc. 1,205 26,377 LCI Industries 1,848 275,445 Carter Bankshares, Inc.* 1,705 26,547 Cathay General Bancorp 5,706 237,826 Modine Manufacturing Co.* 3,766 66,244 Motorcar Parts of America, Inc.* 1,406 32,858 CB Financial Services, Inc. 368 8,004 CBTX, Inc. 1,308 38,717 Patrick Industries, Inc. 1,678 143,805 Standard Motor Products, Inc. 1,588 71,492 Central Pacific Financial Corp. 2,063 57,166 Stoneridge, Inc.* 1,953 59,449 Central Valley Community Tenneco, Inc., Class A* 3,831 60,070 Bancorp 796 16,931 Visteon Corp.* 2,078 254,472 Century Bancorp, Inc., Class A 220 25,102 XPEL, Inc.*(c) 1,252 102,664 Chemung Financial Corp. 256 11,930 ChoiceOne Financial Services, Inc. 553 14,240 3,283,428 CIT Group, Inc. 7,410 392,582 Automobiles - 0.1% Citizens & Northern Corp. 1,003 24,764 Winnebago Industries, Inc. 2,339 172,993 Citizens Holding Co. 352 6,653 Workhorse Group, Inc.*(b) 7,087 66,405 City Holding Co. 1,161 93,135 239,398 Civista Bancshares, Inc. 1,173 27,847

See accompanying notes to the financial statements.

UltraPro Russell2000 Schedule of Portfolio Investments May 31, 2021

Investments Shares Value ($) Investments Shares Value ($) CNB Financial Corp. 1,108 26,935 German American Bancorp, Inc. 1,845 77,121 Coastal Financial Corp.*(b) 680 21,148 Glacier Bancorp, Inc. 7,200 419,400 Codorus Valley Bancorp, Inc. 706 13,386 Great Southern Bancorp, Inc. 811 45,813 Colony Bankcorp, Inc. 577 10,594 Great Western Bancorp, Inc. 4,157 139,093 Columbia Banking System, Inc. 5,396 232,891 Guaranty Bancshares, Inc. 575 22,046 Community Bank System, Inc. 3,975 322,452 Hancock Whitney Corp. 6,474 320,528 Community Bankers Trust Corp. 1,633 14,436 Hanmi Financial Corp. 2,301 48,275 Community Financial Corp. (The) 393 13,940 HarborOne Bancorp, Inc. 3,896 57,856 Community Trust Bancorp, Inc. 1,165 51,470 Hawthorn Bancshares, Inc. 444 10,723 ConnectOne Bancorp, Inc. 2,786 77,144 HBT Financial, Inc. 734 13,351 County Bancorp, Inc. 367 9,138 Heartland Financial USA, Inc. 2,608 129,748 CrossFirst Bankshares, Inc.* 3,601 52,971 Heritage Commerce Corp. 4,365 51,769 Customers Bancorp, Inc.* 2,152 81,453 Heritage Financial Corp. 2,708 78,559 CVB Financial Corp. 9,706 215,279 Hilltop Holdings, Inc. 4,932 183,224 Dime Community Bancshares, Inc. 2,647 91,877 Home BancShares, Inc. 11,489 314,339 Eagle Bancorp Montana, Inc. 477 11,930 HomeTrust Bancshares, Inc. 1,147 32,540 Eagle Bancorp, Inc. 2,375 135,708 Hope Bancorp, Inc. 8,822 134,977 Eastern Bankshares, Inc. 12,463 279,171 Horizon Bancorp, Inc. 3,207 59,330 Enterprise Bancorp, Inc. 676 23,295 Howard Bancorp, Inc.* 990 16,691 Enterprise Financial Services Corp. 1,801 88,987 Independent Bank Corp. 2,468 201,413 Equity Bancshares, Inc., Class A* 1,064 34,963 Independent Bank Corp./MI 1,591 37,070 Esquire Financial Holdings, Inc.* 520 12,808 Independent Bank Group, Inc. 3,291 259,166 Evans Bancorp, Inc. 362 13,691 International Bancshares Corp. 4,014 186,250 Farmers & Merchants Bancorp, Investar Holding Corp. 744 16,800 Inc.(b) 757 16,654 Investors Bancorp, Inc. 17,325 257,796 Farmers National Banc Corp. 1,952 33,965 Lakeland Bancorp, Inc. 3,662 69,615 FB Financial Corp. 2,375 99,394 Lakeland Financial Corp. 1,828 112,806 Fidelity D&D Bancorp, Inc.(b) 291 16,217 Landmark Bancorp, Inc.(b) 292 7,560 Financial Institutions, Inc. 1,186 38,106 LCNB Corp. 909 16,035 First Bancorp, Inc. (The) 756 23,814 Level One Bancorp, Inc. 374 10,364 First Bancorp/NC 2,125 94,286 Limestone Bancorp, Inc.* 393 6,253 First Bancorp/PR 16,168 206,789 Live Oak Bancshares, Inc. 2,131 129,096 First Bancshares, Inc. (The) 1,531 59,786 Macatawa Bank Corp. 1,967 18,883 First Bank 1,206 16,558 Mackinac Financial Corp. 676 14,656 First Busey Corp. 3,789 101,507 MainStreet Bancshares, Inc.* 469 10,041 First Business Financial Services, Mercantile Bank Corp. 1,184 38,243 Inc. 611 16,748 Meridian Corp.(b) 410 11,099 First Capital, Inc.(b) 249 11,105 Metrocity Bankshares, Inc. 1,300 22,373 First Choice Bancorp 780 25,061 Metropolitan Bank Holding Corp.* 522 33,309 First Commonwealth Financial Mid Penn Bancorp, Inc. 523 14,749 Corp. 7,176 108,716 Middlefield Banc Corp. 446 10,704 First Community Bankshares, Inc. 1,297 40,415 Midland States Bancorp, Inc. 1,590 44,297 First Community Corp. 534 10,733 MidWestOne Financial Group, Inc. 1,099 34,662 First Financial Bancorp 7,284 185,523 MVB Financial Corp. 695 29,795 First Financial Bankshares, Inc. 9,699 488,345 National Bank Holdings Corp., First Financial Corp. 998 45,289 Class A 2,209 87,476 First Foundation, Inc. 2,963 74,371 National Bankshares, Inc. 486 17,059 First Guaranty Bancshares, Inc. 276 5,440 NBT Bancorp, Inc. 3,200 124,768 First Internet Bancorp 716 24,287 Nicolet Bankshares, Inc.* 681 54,003 First Interstate BancSystem, Inc., Northeast Bank 575 16,882 Class A 3,045 143,328 Northrim Bancorp, Inc. 457 19,902 First Merchants Corp. 4,057 188,001 Norwood Financial Corp. 440 11,180 First Mid Bancshares, Inc.(b) 1,096 48,114 Oak Valley Bancorp(b) 516 9,752 First Midwest Bancorp, Inc. 8,559 179,140 OceanFirst Financial Corp. 4,456 98,522 First Northwest Bancorp 649 11,559 OFG Bancorp 3,802 91,628 First of Long Island Corp. (The) 1,712 38,520 Ohio Valley Banc Corp. 328 7,688 First Savings Financial Group, Inc. 132 9,509 Old National Bancorp 12,318 234,658 First United Corp.(b) 520 9,454 Old Second Bancorp, Inc. 2,135 29,591 First Western Financial, Inc.* 470 13,043 Origin Bancorp, Inc. 1,646 72,671 Flushing Financial Corp. 2,210 51,648 Orrstown Financial Services, Inc. 817 20,621 FNCB Bancorp, Inc.(b) 1,287 9,485 Pacific Premier Bancorp, Inc. 6,005 276,050 Franklin Financial Services Corp. 315 9,630 Park National Corp.(b) 1,077 136,262 Fulton Financial Corp. 11,928 206,712 Parke Bancorp, Inc. 795 17,093 FVCBankcorp, Inc.* 886 15,727 Partners Bancorp 742 5,825

See accompanying notes to the financial statements.

UltraPro Russell2000 Schedule of Portfolio Investments May 31, 2021

Investments Shares Value ($) Investments Shares Value ($) PCB Bancorp 937 15,039 MGP Ingredients, Inc.(b) 968 67,460 Peapack-Gladstone Financial Corp. 1,373 45,611 National Beverage Corp. 1,773 88,526 Penns Woods Bancorp, Inc. 518 13,266 NewAge, Inc.*(b) 7,113 16,858 Peoples Bancorp of North Carolina, Primo Water Corp. 11,738 203,185 Inc. 332 8,263 696,525 Peoples Bancorp, Inc. 1,361 44,205 Biotechnology - 4.6% Peoples Financial Services Corp.(b) 523 22,567 4D Molecular Therapeutics, Inc.* 583 15,484 Plumas Bancorp 349 10,620 89bio, Inc.*(b) 628 11,869 Preferred Bank 1,033 70,544 Abeona Therapeutics, Inc.* 4,535 7,483 Premier Financial Bancorp, Inc. 980 18,277 ADMA Biologics, Inc.*(b) 4,952 8,666 Primis Financial Corp. 1,487 21,904 Adverum Biotechnologies, Inc.* 6,686 23,134 Professional Holding Corp., Class Aeglea BioTherapeutics, Inc.*(b) 3,392 22,421 A* 854 15,628 Affimed NV* 8,481 75,226 QCR Holdings, Inc. 1,108 52,973 Agenus, Inc.* 11,812 50,319 RBB Bancorp 1,251 30,524 Akebia Therapeutics, Inc.*(b) 10,758 37,761 Red River Bancshares, Inc. 368 20,096 Akero Therapeutics, Inc.*(b) 1,020 26,704 Reliant Bancorp, Inc. 1,157 34,305 Akouos, Inc.*(b) 1,839 24,017 Renasant Corp.(b) 4,094 181,037 Albireo Pharma, Inc.* 1,272 42,548 Republic Bancorp, Inc., Class A 728 33,816 Alector, Inc.* 3,479 61,926 Republic First Bancorp, Inc.* 3,412 14,057 Aligos Therapeutics, Inc.* 791 22,053 Richmond Mutual Bancorp, Inc. 908 13,266 Allakos, Inc.* 1,966 199,431 S&T Bancorp, Inc. 2,904 98,533 Allogene Therapeutics, Inc.* 4,054 104,188 Salisbury Bancorp, Inc.(b) 187 8,697 Allovir, Inc.* 2,223 52,107 Sandy Spring Bancorp, Inc. 3,455 160,519 ALX Oncology Holdings, Inc.* 1,310 74,094 SB Financial Group, Inc. 511 10,118 Amicus Therapeutics, Inc.* 19,318 178,885 Seacoast Banking Corp. of Florida* 3,878 143,757 AnaptysBio, Inc.*(b) 1,607 38,359 Select Bancorp, Inc.* 1,156 16,276 Anavex Life Sciences Corp.*(b) 4,387 54,618 ServisFirst Bancshares, Inc. 3,658 254,085 Anika Therapeutics, Inc.* 1,049 48,936 Shore Bancshares, Inc. 876 15,058 Annexon, Inc.* 2,000 42,240 Sierra Bancorp 1,062 29,439 Apellis Pharmaceuticals, Inc.* 4,511 253,879 Silvergate Capital Corp., Class A* 1,460 162,644 Applied Genetic Technologies Simmons First National Corp., Corp.* 3,216 12,896 Class A 8,129 247,935 Applied Molecular Transport, SmartFinancial, Inc. 1,056 25,608 Inc.*(b) 1,671 80,108 South Plains Financial, Inc. 797 18,698 Applied Therapeutics, Inc.*(b) 1,166 22,422 South State Corp. 5,257 466,874 Aprea Therapeutics, Inc.* 538 2,270 Southern First Bancshares, Inc.* 545 29,119 Aptinyx, Inc.*(b) 2,558 6,497 Southside Bancshares, Inc. 2,377 101,831 Aravive, Inc.*(b) 909 4,663 Spirit of Texas Bancshares, Inc. 968 22,341 Arcturus Therapeutics Holdings, Stock Yards Bancorp, Inc. 1,531 82,276 Inc.* 1,517 44,327 Summit Financial Group, Inc. 857 20,422 Arcus Biosciences, Inc.* 3,166 78,580 Texas Capital Bancshares, Inc.* 3,793 261,262 Arcutis Biotherapeutics, Inc.*(b) 1,736 45,744 Tompkins Financial Corp. 1,076 87,317 Ardelyx, Inc.* 5,559 39,747 Towne Bank 5,031 161,143 Arena Pharmaceuticals, Inc.* 4,365 266,745 TriCo Bancshares 1,988 95,325 Arrowhead Pharmaceuticals, Inc.* 7,690 558,294 TriState Capital Holdings, Inc.* 2,074 47,681 Assembly Biosciences, Inc.* 2,305 9,151 Triumph Bancorp, Inc.* 1,708 143,045 Atara Biotherapeutics, Inc.* 6,024 81,685 Trustmark Corp. 4,731 158,725 Athenex, Inc.* 5,324 24,970 UMB Financial Corp. 3,280 317,209 Athersys, Inc.*(b) 13,025 21,752 United Bankshares, Inc. 9,305 383,273 Atreca, Inc., Class A* 2,163 19,510 United Community Banks, Inc. 5,866 202,846 AVEO Pharmaceuticals, Inc.* 1,639 11,965 United Security Bancshares 1,014 8,619 Avid Bioservices, Inc.* 4,538 96,569 Unity Bancorp, Inc. 568 13,768 Avidity Biosciences, Inc.*(b) 2,289 54,341 Univest Financial Corp. 2,160 62,986 Avrobio, Inc.* 2,670 24,003 Valley National Bancorp 29,930 428,598 Axcella Health, Inc.* 1,165 3,716 Veritex Holdings, Inc. 3,562 125,133 Aziyo Biologics, Inc., Class A* 177 2,221 Washington Trust Bancorp, Inc. 1,285 70,662 Beam Therapeutics, Inc.*(b) 2,998 234,534 WesBanco, Inc. 4,899 190,669 Beyondspring, Inc.*(b) 1,429 14,819 West Bancorp, Inc. 1,208 33,727 BioAtla, Inc.*(b) 868 37,367 Westamerica Bancorp 1,956 122,700 BioCryst Pharmaceuticals, Inc.*(b) 13,267 209,221 19,096,718 Biohaven Pharmaceutical Holding Beverages - 0.2% Co. Ltd.* 3,613 314,331 Celsius Holdings, Inc.* 2,703 177,154 Bioxcel Therapeutics, Inc.*(b) 957 31,610 Coca-Cola Consolidated, Inc. 354 143,342 Black Diamond Therapeutics, Inc.* 1,361 17,856

See accompanying notes to the financial statements.

UltraPro Russell2000 Schedule of Portfolio Investments May 31, 2021

Investments Shares Value ($) Investments Shares Value ($) Blueprint Medicines Corp.* 4,157 379,742 Fortress Biotech, Inc.* 5,019 20,227 Bolt Biotherapeutics, Inc.* 949 16,617 Frequency Therapeutics, Inc.* 1,883 16,665 BrainStorm Cell Therapeutics, G1 Therapeutics, Inc.*(b) 2,561 55,625 Inc.*(b) 2,289 8,195 Galectin Therapeutics, Inc.* 2,789 11,072 Bridgebio Pharma, Inc.*(b) 7,061 418,011 Galera Therapeutics, Inc.*(b) 651 5,579 C4 Therapeutics, Inc.* 800 29,560 Generation Bio Co.* 3,025 103,636 Cabaletta Bio, Inc.* 969 10,988 Genprex, Inc.* 2,184 8,168 Calithera Biosciences, Inc.* 4,941 11,265 Geron Corp.* 21,573 29,771 Calyxt, Inc.* 773 3,332 GlycoMimetics, Inc.* 2,784 7,099 CareDx, Inc.* 3,774 303,430 Gossamer Bio, Inc.*(b) 4,253 36,023 CASI Pharmaceuticals, Inc.*(b) 4,961 7,938 Gritstone bio, Inc.*(b) 2,261 20,801 Catabasis Pharmaceuticals, Inc.*(b) 1,518 3,097 Halozyme Therapeutics, Inc.*(b) 9,987 413,562 Catalyst Biosciences, Inc.* 2,306 9,847 Harpoon Therapeutics, Inc.* 1,022 21,074 Catalyst Pharmaceuticals, Inc.* 7,286 40,292 Heron Therapeutics, Inc.*(b) 6,586 87,396 CEL-SCI Corp.*(b) 2,661 57,238 Homology Medicines, Inc.* 2,552 16,945 Centogene NV* 639 6,269 Hookipa Pharma, Inc.* 1,081 18,042 Checkmate Pharmaceuticals, iBio, Inc.*(b) 16,078 23,313 Inc.*(b) 678 4,583 Ideaya Biosciences, Inc.*(b) 1,331 26,820 Checkpoint Therapeutics, Inc.* 3,887 10,417 IGM Biosciences, Inc.* 563 42,028 ChemoCentryx, Inc.* 3,725 37,809 Immunic, Inc.*(b) 414 5,593 Chimerix, Inc.* 4,468 34,940 ImmunityBio, Inc.*(b) 2,367 41,541 Chinook Therapeutics, Inc.* 995 16,417 ImmunoGen, Inc.* 14,406 89,029 Cidara Therapeutics, Inc.*(b) 2,708 5,470 Immunome, Inc.* 157 3,284 Clovis Oncology, Inc.*(b) 6,230 31,960 Immunovant, Inc.*(b) 2,814 42,660 Codiak Biosciences, Inc.* 481 10,880 Inhibrx, Inc.* 610 12,908 Cohbar, Inc.*(b)(c) 2,602 3,252 Inovio Pharmaceuticals, Inc.*(b) 13,914 105,051 Coherus Biosciences, Inc.*(b) 4,421 58,180 Inozyme Pharma, Inc.* 904 14,789 Concert Pharmaceuticals, Inc.* 2,223 8,936 Insmed, Inc.* 7,604 187,058 Constellation Pharmaceuticals, Intellia Therapeutics, Inc.* 4,122 308,903 Inc.* 2,306 45,682 Intercept Pharmaceuticals, Inc.*(b) 1,952 32,462 ContraFect Corp.*(b) 1,835 7,413 Invitae Corp.*(b) 9,106 262,071 Corbus Pharmaceuticals Holdings, Ironwood Pharmaceuticals, Inc.* 11,985 138,666 Inc.* 5,768 12,517 iTeos Therapeutics, Inc.* 1,478 30,358 Cortexyme, Inc.*(b) 1,181 48,858 IVERIC bio, Inc.*(b) 6,035 42,667 Crinetics Pharmaceuticals, Inc.*(b) 2,035 35,714 Jounce Therapeutics, Inc.* 1,295 10,166 Cue Biopharma, Inc.* 2,222 31,863 Kadmon Holdings, Inc.* 12,958 49,759 Cullinan Oncology, Inc.*(b) 988 29,373 KalVista Pharmaceuticals, Inc.* 1,433 38,691 Cyclerion Therapeutics, Inc.* 1,662 5,385 Karuna Therapeutics, Inc.* 1,183 132,283 Cytokinetics, Inc.* 4,984 108,801 Karyopharm Therapeutics, Inc.* 5,327 49,435 CytomX Therapeutics, Inc.* 4,628 33,136 Keros Therapeutics, Inc.* 993 54,178 Decibel Therapeutics, Inc.* 532 4,761 Kezar Life Sciences, Inc.*(b) 2,349 13,436 Deciphera Pharmaceuticals, Inc.* 2,900 97,846 Kindred Biosciences, Inc.* 2,797 13,510 Denali Therapeutics, Inc.* 4,721 300,208 Kiniksa Pharmaceuticals Ltd., Class DermTech, Inc.*(b) 765 31,304 A* 2,006 27,342 Dicerna Pharmaceuticals, Inc.* 4,952 161,435 Kinnate Biopharma, Inc.*(b) 1,017 23,879 Dyadic International, Inc.*(b) 1,447 5,455 Kodiak Sciences, Inc.* 2,474 206,876 Dynavax Technologies Corp.* 7,977 65,411 Kronos Bio, Inc.*(b) 1,120 27,339 Dyne Therapeutics, Inc.* 1,215 23,219 Krystal Biotech, Inc.* 1,136 74,113 Eagle Pharmaceuticals, Inc.* 781 30,943 Kura Oncology, Inc.* 4,704 104,664 Editas Medicine, Inc.*(b) 5,018 170,361 Kymera Therapeutics, Inc.* 753 36,212 Eiger BioPharmaceuticals, Inc.* 2,302 18,094 La Jolla Pharmaceutical Co.* 1,355 5,827 Emergent BioSolutions, Inc.* 3,392 205,725 Lexicon Pharmaceuticals, Inc.* 3,734 16,392 Enanta Pharmaceuticals, Inc.* 1,445 70,314 Ligand Pharmaceuticals, Inc.* 1,086 127,822 Enochian Biosciences, Inc.*(b) 1,032 4,200 LogicBio Therapeutics, Inc.*(b) 1,230 5,375 Epizyme, Inc.* 6,701 55,149 MacroGenics, Inc.* 4,119 132,591 Esperion Therapeutics, Inc.*(b) 1,947 38,765 Madrigal Pharmaceuticals, Inc.* 654 73,444 Evelo Biosciences, Inc.*(b) 1,724 23,136 Magenta Therapeutics, Inc.* 1,556 19,217 Exicure, Inc.*(b) 4,451 7,433 MannKind Corp.*(b) 17,015 75,206 Fate Therapeutics, Inc.* 5,720 438,152 Marker Therapeutics, Inc.* 2,284 6,646 Fennec Pharmaceuticals, Inc.* 1,632 12,028 MediciNova, Inc.*(b) 3,224 13,605 FibroGen, Inc.*(b) 6,328 134,470 MEI Pharma, Inc.*(b) 8,242 23,737 Flexion Therapeutics, Inc.* 3,283 27,479 MeiraGTx Holdings plc* 1,793 24,725 Foghorn Therapeutics, Inc.*(b) 540 5,621 Mersana Therapeutics, Inc.* 3,997 57,237 Forma Therapeutics Holdings, Inc.* 2,272 63,775 Metacrine, Inc.* 492 2,027

See accompanying notes to the financial statements.

UltraPro Russell2000 Schedule of Portfolio Investments May 31, 2021

Investments Shares Value ($) Investments Shares Value ($) Minerva Neurosciences, Inc.* 2,659 7,844 Spectrum Pharmaceuticals, Inc.* 10,835 37,381 Mirati Therapeutics, Inc.* 3,210 507,662 Spero Therapeutics, Inc.* 1,531 22,200 Mirum Pharmaceuticals, Inc.*(b) 447 7,393 SpringWorks Therapeutics, Inc.* 1,805 147,180 Molecular Templates, Inc.*(b) 1,989 17,782 Spruce Biosciences, Inc.*(b) 523 7,390 Morphic Holding, Inc.* 1,048 51,729 SQZ Biotechnologies Co.*(b) 388 5,265 Mustang Bio, Inc.* 3,783 12,673 Stoke Therapeutics, Inc.*(b) 1,018 40,374 Myriad Genetics, Inc.* 5,351 153,306 Sutro Biopharma, Inc.* 2,439 45,390 Natera, Inc.* 5,683 534,998 Syndax Pharmaceuticals, Inc.* 2,337 42,931 Neoleukin Therapeutics, Inc.* 2,422 24,293 Syros Pharmaceuticals, Inc.* 3,544 22,859 NeuBase Therapeutics, Inc.* 1,260 6,514 Taysha Gene Therapies, Inc.*(b) 652 14,670 NeuroBo Pharmaceuticals, Inc.* 502 1,416 TCR2 Therapeutics, Inc.* 2,175 41,651 NexImmune, Inc.* 482 8,956 TG Therapeutics, Inc.*(b) 9,136 318,572 NextCure, Inc.* 2,270 17,819 Translate Bio, Inc.*(b) 5,117 92,157 Nkarta, Inc.* 1,529 37,231 Travere Therapeutics, Inc.* 4,157 63,062 Novavax, Inc.*(b) 4,632 683,776 Turning Point Therapeutics, Inc.* 2,804 185,569 Nurix Therapeutics, Inc.* 1,795 50,080 Twist Bioscience Corp.* 3,530 378,804 Nymox Pharmaceutical Corp.* 3,172 4,821 Tyme Technologies, Inc.*(b) 5,214 8,030 Olema Pharmaceuticals, Inc.*(b) 911 25,472 Ultragenyx Pharmaceutical, Inc.* 4,772 485,360 Oncocyte Corp.* 5,355 23,669 UNITY Biotechnology, Inc.*(b) 2,661 11,921 Oncorus, Inc.* 560 9,632 UroGen Pharma Ltd.*(b) 1,454 25,619 OPKO Health, Inc.*(b) 29,877 114,130 Vanda Pharmaceuticals, Inc.* 4,035 71,379 Organogenesis Holdings, Inc.* 1,835 32,718 Vaxart, Inc.*(b) 3,939 26,076 Orgenesis, Inc.*(b) 1,413 6,825 Vaxcyte, Inc.*(b) 2,177 45,869 ORIC Pharmaceuticals, Inc.* 1,703 38,914 VBI Vaccines, Inc.*(b) 13,531 43,705 Ovid therapeutics, Inc.* 3,570 14,816 Veracyte, Inc.* 4,983 194,586 Oyster Point Pharma, Inc.*(b) 449 8,046 Verastem, Inc.*(b) 12,812 49,582 Passage Bio, Inc.* 2,155 28,554 Vericel Corp.* 3,417 193,061 PhaseBio Pharmaceuticals, Inc.*(b) 1,137 3,843 Viking Therapeutics, Inc.*(b) 4,923 25,797 Pieris Pharmaceuticals, Inc.* 3,982 13,698 Vir Biotechnology, Inc.*(b) 4,021 168,520 PMV Pharmaceuticals, Inc.* 1,027 35,329 Vor BioPharma, Inc.*(b) 858 18,104 Poseida Therapeutics, Inc.*(b) 2,484 20,990 Voyager Therapeutics, Inc.* 1,944 8,281 Praxis Precision Medicines, vTv Therapeutics, Inc., Class A* 884 2,175 Inc.*(b) 828 16,221 X4 Pharmaceuticals, Inc.* 1,209 11,485 Precigen, Inc.*(b) 5,255 34,683 XBiotech, Inc.*(b) 1,086 18,734 Precision BioSciences, Inc.* 3,493 36,781 Xencor, Inc.* 4,171 160,417 Prelude Therapeutics, Inc.*(b) 747 25,966 XOMA Corp.*(b) 453 13,350 Protagonist Therapeutics, Inc.* 2,645 92,866 Y-mAbs Therapeutics, Inc.* 2,292 82,122 Protara Therapeutics, Inc.* 290 2,749 Zentalis Pharmaceuticals, Inc.* 2,156 120,413 Prothena Corp. plc* 2,307 67,295 ZIOPHARM Oncology, Inc.*(b) 16,010 48,670 PTC Therapeutics, Inc.* 4,640 182,213 18,978,832 Puma Biotechnology, Inc.* 2,315 24,423 Building Products - 0.9% Radius Health, Inc.* 3,415 65,875 AAON, Inc. 3,086 204,448 RAPT Therapeutics, Inc.*(b) 829 16,000 Advanced Drainage Systems, REGENXBIO, Inc.* 2,898 102,212 Inc.(b) 4,231 479,880 Relay Therapeutics, Inc.* 3,439 110,461 Alpha Pro Tech Ltd.*(b) 914 7,531 Replimune Group, Inc.* 1,805 70,341 American Woodmark Corp.* 1,271 110,475 REVOLUTION Medicines, Inc.* 3,207 95,921 Apogee Enterprises, Inc. 1,930 73,359 Rhythm Pharmaceuticals, Inc.* 2,864 56,163 Builders FirstSource, Inc.* 15,322 682,442 Rigel Pharmaceuticals, Inc.*(b) 12,761 47,471 Caesarstone Ltd. 1,678 27,687 Rocket Pharmaceuticals, Inc.*(b) 2,810 119,425 Cornerstone Building Brands, Inc.* 3,286 55,731 Rubius Therapeutics, Inc.* 2,694 65,814 CSW Industrials, Inc. 1,026 124,987 Sangamo Therapeutics, Inc.*(b) 8,648 93,225 Gibraltar Industries, Inc.* 2,449 194,573 Savara, Inc.*(b) 3,612 6,502 Griffon Corp. 3,450 90,701 Scholar Rock Holding Corp.* 1,921 51,617 Insteel Industries, Inc. 1,396 48,804 Scopus Biopharma, Inc.* 413 2,924 JELD-WEN Holding, Inc.* 5,029 140,862 Selecta Biosciences, Inc.* 5,096 22,117 Masonite International Corp.* 1,832 219,016 Sensei Biotherapeutics, Inc.* 569 7,073 PGT Innovations, Inc.* 4,289 103,622 Seres Therapeutics, Inc.* 4,150 87,607 Quanex Building Products Corp. 2,494 66,415 Shattuck Labs, Inc.* 989 26,841 Resideo Technologies, Inc.* 10,810 323,219 Sigilon Therapeutics, Inc.* 577 6,734 Simpson Manufacturing Co., Inc. 3,277 368,073 Silverback Therapeutics, Inc.*(b) 949 26,126 UFP Industries, Inc. 4,491 357,124 Soleno Therapeutics, Inc.*(b) 4,471 4,605 3,678,949 Solid Biosciences, Inc.* 2,111 8,022 Sorrento Therapeutics, Inc.*(b) 18,796 141,346

See accompanying notes to the financial statements.

UltraPro Russell2000 Schedule of Portfolio Investments May 31, 2021

Investments Shares Value ($) Investments Shares Value ($) Capital Markets - 0.8% Koppers Holdings, Inc.* 1,549 53,704 Artisan Partners Asset Kraton Corp.* 2,346 79,647 Management, Inc., Class A 4,246 216,886 Kronos Worldwide, Inc. 1,676 27,218 AssetMark Financial Holdings, Livent Corp.*(b) 11,018 214,961 Inc.* 1,227 31,976 Marrone Bio Innovations, Inc.* 5,204 7,285 Associated Capital Group, Inc., Minerals Technologies, Inc. 2,560 222,720 Class A 147 5,387 Orion Engineered Carbons SA* 4,524 91,566 B Riley Financial, Inc. 1,504 110,754 PQ Group Holdings, Inc. 2,884 47,124 BGC Partners, Inc., Class A 23,270 137,293 Quaker Chemical Corp. 998 242,065 Blucora, Inc.* 3,618 62,736 Rayonier Advanced Materials, Brightsphere Investment Group, Inc.* 4,651 35,906 Inc. 4,608 102,620 Sensient Technologies Corp. 3,188 276,559 Cohen & Steers, Inc. 1,837 134,340 Stepan Co. 1,618 217,880 Cowen, Inc., Class A 1,920 75,514 Trecora Resources* 1,812 14,840 Diamond Hill Investment Group, Tredegar Corp. 1,959 29,855 Inc. 223 39,116 Trinseo SA 2,875 186,702 Donnelley Financial Solutions, Tronox Holdings plc, Class A 8,167 191,761 Inc.* 2,234 66,595 3,935,210 Federated Hermes, Inc., Class B 7,138 226,988 Commercial Services & Supplies - 1.0% Focus Financial Partners, Inc., ABM Industries, Inc. 5,035 251,196 Class A* 2,891 146,545 ACCO Brands Corp. 6,936 63,187 GAMCO Investors, Inc., Class A 410 10,500 Brady Corp., Class A 3,536 202,365 Greenhill & Co., Inc. 1,075 18,716 BrightView Holdings, Inc.* 3,072 53,299 Hamilton Lane, Inc., Class A 2,410 217,792 Brink's Co. (The) 3,695 278,640 Houlihan Lokey, Inc. 3,890 291,322 Casella Waste Systems, Inc., Class Moelis & Co., Class A 3,973 213,310 A* 3,662 246,929 Oppenheimer Holdings, Inc., Class CECO Environmental Corp.* 2,323 17,724 A 695 34,729 Cimpress plc* 1,333 132,380 Piper Sandler Cos. 1,308 166,718 CompX International, Inc. 130 2,883 PJT Partners, Inc., Class A(b) 1,755 127,799 CoreCivic, Inc., REIT* 8,988 70,376 Pzena Investment Management, Covanta Holding Corp. 8,909 131,942 Inc., Class A 1,271 14,744 Deluxe Corp. 3,132 142,694 Safeguard Scientifics, Inc.* 1,481 10,352 Ennis, Inc. 1,919 40,222 Sculptor Capital Management, Inc., Harsco Corp.* 5,873 131,673 Class A 1,389 36,295 Healthcare Services Group, Inc. 5,611 168,274 Siebert Financial Corp.* 869 3,598 Heritage-Crystal Clean, Inc.* 1,173 36,128 Silvercrest Asset Management Herman Miller, Inc. 4,430 211,754 Group, Inc., Class A 716 11,399 HNI Corp. 3,209 146,395 StepStone Group, Inc., Class A 1,459 46,250 Interface, Inc. 4,382 71,602 Stifel Financial Corp. 7,513 520,501 KAR Auction Services, Inc.*(b) 9,701 174,036 StoneX Group, Inc.* 1,251 84,693 Kimball International, Inc., Class B 2,710 36,097 Value Line, Inc. 76 2,348 Knoll, Inc. 3,763 97,838 Virtus Investment Partners, Inc. 548 154,114 Matthews International Corp., Class Westwood Holdings Group, Inc. 577 11,384 A 2,320 90,642 WisdomTree Investments, Inc. 10,451 70,022 Montrose Environmental Group, 3,403,336 Inc.*(b) 1,607 80,575 Chemicals - 1.0% NL Industries, Inc. 633 4,583 Advanced Emissions Solutions, Pitney Bowes, Inc. 13,018 109,091 Inc.* 1,188 9,433 Quad/Graphics, Inc.* 2,497 8,265 AdvanSix, Inc.* 2,056 65,093 SP Plus Corp.* 1,724 56,358 AgroFresh Solutions, Inc.* 4,229 9,346 Steelcase, Inc., Class A 6,476 93,708 American Vanguard Corp. 2,169 39,888 Team, Inc.* 2,256 19,176 Amyris, Inc.*(b) 8,012 114,011 Tetra Tech, Inc. 4,053 484,212 Avient Corp. 6,861 356,635 UniFirst Corp. 1,137 252,050 Balchem Corp. 2,418 316,758 US Ecology, Inc.* 2,372 94,002 Chase Corp. 560 59,360 Viad Corp.* 1,518 67,005 Ferro Corp.* 6,150 132,840 Vidler Water Resouces, Inc.*(b) 1,251 13,136 FutureFuel Corp. 1,942 19,944 VSE Corp. 754 35,868 GCP Applied Technologies, Inc.* 3,670 89,475 4,116,305 Hawkins, Inc. 1,450 49,329 Communications Equipment - 0.4% HB Fuller Co. 3,905 269,914 ADTRAN, Inc. 3,594 71,197 Ingevity Corp.* 3,125 257,219 Applied Optoelectronics, Inc.* 1,629 13,407 Innospec, Inc. 1,835 185,537 CalAmp Corp.* 2,567 35,604 Intrepid Potash, Inc.* 721 20,635 Calix, Inc.* 3,955 175,246

See accompanying notes to the financial statements.

UltraPro Russell2000 Schedule of Portfolio Investments May 31, 2021

Investments Shares Value ($) Investments Shares Value ($) Cambium Networks Corp.* 609 35,145 LendingClub Corp.* 5,304 81,045 Casa Systems, Inc.* 2,382 20,676 Navient Corp. 13,819 252,473 Clearfield, Inc.* 839 31,731 Nelnet, Inc., Class A 1,292 97,572 Comtech Telecommunications Oportun Financial Corp.* 1,484 28,315 Corp. 1,842 46,584 PRA Group, Inc.* 3,392 132,051 Digi International, Inc.* 2,204 41,788 PROG Holdings, Inc. 5,067 267,132 DZS, Inc.* 1,092 18,073 Regional Management Corp. 618 28,885 Extreme Networks, Inc.* 9,086 103,944 World Acceptance Corp.* 332 53,323 Genasys, Inc.* 2,499 13,620 1,612,407 Harmonic, Inc.* 7,213 50,275 Containers & Packaging - 0.1% Infinera Corp.*(b) 12,323 118,301 Greif, Inc., Class A 1,925 118,792 Inseego Corp.*(b) 5,264 45,270 Greif, Inc., Class B 446 26,662 KVH Industries, Inc.* 1,241 17,734 Myers Industries, Inc. 2,696 59,393 NETGEAR, Inc.* 2,251 87,519 O-I Glass, Inc.* 11,776 217,031 NetScout Systems, Inc.* 5,301 155,849 Pactiv Evergreen, Inc.(b) 2,969 44,060 PCTEL, Inc.*(b) 1,337 8,811 Ranpak Holdings Corp.* 2,176 48,046 Plantronics, Inc.* 2,601 85,313 UFP Technologies, Inc.* 523 28,472 Resonant, Inc.* 3,825 12,469 542,456 Ribbon Communications, Inc.* 5,117 38,070 Distributors - 0.1% Viavi Solutions, Inc.* 17,167 300,937 Core-Mark Holding Co., Inc. 3,361 154,136 1,527,563 Funko, Inc., Class A* 1,833 48,116 Construction & Engineering - 0.8% Greenlane Holdings, Inc., Class Ameresco, Inc., Class A* 1,850 99,456 A*(b) 768 2,980 API Group Corp.*(c) 10,519 222,477 Weyco Group, Inc. 449 9,240 Arcosa, Inc. 3,649 231,711 214,472 Argan, Inc. 1,100 54,010 Diversified Consumer Services - 0.2% Comfort Systems USA, Inc. 2,701 223,913 Adtalem Global Education, Inc.* 3,789 137,844 Concrete Pumping Holdings, Inc.* 1,952 15,655 American Public Education, Inc.* 1,086 30,408 Construction Partners, Inc., Class Aspen Group, Inc.* 1,669 9,713 A* 2,113 68,060 Carriage Services, Inc. 1,239 47,528 Dycom Industries, Inc.* 2,307 172,840 Houghton Mifflin Harcourt Co.*(b) 7,932 78,844 EMCOR Group, Inc. 4,087 515,411 Laureate Education, Inc., Class A* 8,085 118,122 Fluor Corp.*(b) 10,584 195,804 OneSpaWorld Holdings Ltd.* 3,396 38,069 Granite Construction, Inc.(b) 3,519 142,027 Perdoceo Education Corp.* 5,198 63,364 Great Lakes Dredge & Dock Corp.* 4,772 69,719 Regis Corp.*(b) 1,765 16,132 HC2 Holdings, Inc.* 3,718 14,872 Strategic Education, Inc. 1,810 128,220 IES Holdings, Inc.* 596 31,624 Stride, Inc.*(b) 3,043 81,796 MasTec, Inc.* 4,257 495,217 Universal Technical Institute, Inc.* 2,413 14,599 Matrix Service Co.* 1,969 21,462 Vivint Smart Home, Inc.*(b) 6,001 83,474 MYR Group, Inc.* 1,216 105,841 WW International, Inc.* 3,544 139,279 Northwest Pipe Co.* 721 22,827 987,392 NV5 Global, Inc.* 820 74,891 Diversified Financial Services - 0.1% Primoris Services Corp. 3,605 114,603 Alerus Financial Corp. 1,107 36,476 Sterling Construction Co., Inc.* 2,075 46,687 A-Mark Precious Metals, Inc.(b) 371 19,782 Tutor Perini Corp.* 3,060 47,369 Banco Latinoamericano de WillScot Mobile Mini Holdings Comercio Exterior SA, Class E 2,327 35,533 Corp.*(b) 13,016 377,464 Cannae Holdings, Inc.* 6,472 232,021 3,363,940 GWG Holdings, Inc.* 245 1,678 Construction Materials - 0.1% Marlin Business Services Corp. 631 14,210 Forterra, Inc.* 2,184 51,062 SWK Holdings Corp.* 262 4,216 Summit Materials, Inc., Class A* 8,610 299,800 343,916 United States Lime & Minerals, Diversified Telecommunication Services - 0.4% Inc. 146 20,316 Alaska Communications Systems US Concrete, Inc.* 1,203 68,559 Group, Inc.* 3,938 13,074 439,737 Anterix, Inc.* 834 41,250 Consumer Finance - 0.4% ATN International, Inc. 841 39,754 Atlanticus Holdings Corp.*(b) 373 14,775 Bandwidth, Inc., Class A* 1,444 170,811 Curo Group Holdings Corp.(b) 1,373 22,668 Cincinnati Bell, Inc.* 3,767 58,012 Encore Capital Group, Inc.*(b) 2,346 108,596 Cogent Communications Holdings, Enova International, Inc.* 2,597 98,348 Inc. 3,195 241,542 EZCORP, Inc., Class A* 3,630 26,680 Consolidated Communications FirstCash, Inc. 3,057 243,704 Holdings, Inc.* 5,467 51,171 Green Dot Corp., Class A* 3,864 156,840 IDT Corp., Class B* 1,488 42,944

See accompanying notes to the financial statements.

UltraPro Russell2000 Schedule of Portfolio Investments May 31, 2021

Investments Shares Value ($) Investments Shares Value ($) Iridium Communications, Inc.* 8,973 342,858 Novanta, Inc.* 2,568 356,875 Liberty Latin America Ltd., Class OSI Systems, Inc.* 1,271 122,474 A* 3,469 49,503 PAR Technology Corp.*(b) 1,433 95,954 Liberty Latin America Ltd., Class PC Connection, Inc. 828 40,398 C* 11,653 167,570 Plexus Corp.* 2,132 210,663 Ooma, Inc.* 1,600 31,056 Powerfleet, Inc.* 2,441 16,452 ORBCOMM, Inc.* 5,559 62,205 Research Frontiers, Inc.*(b) 1,992 4,741 Vonage Holdings Corp.* 17,611 242,679 Rogers Corp.* 1,406 263,414 1,554,429 Sanmina Corp.* 4,813 202,675 Electric Utilities - 0.3% ScanSource, Inc.* 1,903 58,099 ALLETE, Inc. 3,914 269,635 TTM Technologies, Inc.* 7,512 113,807 Genie Energy Ltd., Class B 989 6,033 Vishay Intertechnology, Inc. 9,984 240,315 MGE Energy, Inc. 2,742 205,705 Vishay Precision Group, Inc.* 933 30,416 Otter Tail Corp. 3,047 146,165 Wrap Technologies, Inc.* 859 7,697 PNM Resources, Inc. 6,433 315,989 4,463,322 Portland General Electric Co. 6,759 324,026 Energy Equipment & Services - 0.4% Spark Energy, Inc., Class A(b) 902 9,372 Archrock, Inc. 9,744 89,645 1,276,925 Aspen Aerogels, Inc.* 1,555 31,535 Electrical Equipment - 0.8% Bristow Group, Inc.* 481 13,122 Allied Motion Technologies, Inc. 830 29,382 Cactus, Inc., Class A 3,575 125,268 American Superconductor Corp.* 2,024 30,299 ChampionX Corp.* 13,959 369,914 Atkore, Inc.* 3,521 271,821 DMC Global, Inc.* 1,098 58,161 AZZ, Inc. 1,900 101,631 Dril-Quip, Inc.* 2,626 88,050 Bloom Energy Corp., Class A*(b) 6,663 161,045 Exterran Corp.* 1,956 9,232 Encore Wire Corp. 1,530 125,766 Frank's International NV* 11,635 39,094 EnerSys 3,198 301,380 Helix Energy Solutions Group, FuelCell Energy, Inc.*(b) 23,677 232,508 Inc.* 10,715 56,039 LSI Industries, Inc. 1,919 17,847 Liberty Oilfield Services, Inc., Orion Energy Systems, Inc.* 2,032 13,025 Class A* 6,224 93,111 Plug Power, Inc.*(b) 30,959 950,441 Nabors Industries Ltd.* 525 49,151 Powell Industries, Inc. 674 23,159 National Energy Services Reunited Preformed Line Products Co. 220 16,372 Corp.*(b) 1,555 19,951 Sunrun, Inc.*(b) 11,930 533,510 Newpark Resources, Inc.* 6,742 22,518 Thermon Group Holdings, Inc.* 2,464 42,948 NexTier Oilfield Solutions, Inc.* 12,150 51,638 TPI Composites, Inc.* 2,308 111,476 Oceaneering International, Inc.* 7,455 106,383 Ultralife Corp.* 679 6,199 Oil States International, Inc.* 4,525 29,096 Vicor Corp.* 1,446 130,256 Patterson-UTI Energy, Inc. 13,758 115,154 3,099,065 ProPetro Holding Corp.* 6,020 59,839 Electronic Equipment, Instruments & Components - 1.1% RPC, Inc.*(b) 4,318 21,201 908 Devices, Inc.*(b) 540 22,750 Select Energy Services, Inc., Class Akoustis Technologies, Inc.*(b) 2,713 25,990 A* 4,427 25,145 Arlo Technologies, Inc.* 5,945 39,891 Solaris Oilfield Infrastructure, Inc., Badger Meter, Inc. 2,189 209,203 Class A 2,163 21,608 Bel Fuse, Inc., Class B 754 12,426 Tidewater, Inc.*(b) 3,038 41,803 Belden, Inc. 3,321 168,043 Transocean Ltd.* 43,922 166,025 Benchmark Electronics, Inc. 2,742 84,865 US Silica Holdings, Inc.* 5,539 56,830 CTS Corp. 2,389 91,379 1,759,513 Daktronics, Inc.* 2,749 18,583 Entertainment - 0.3% ePlus, Inc.* 996 94,192 AMC Entertainment Holdings, Inc., Fabrinet* 2,758 247,365 Class A*(b) 28,473 743,715 FARO Technologies, Inc.* 1,331 100,690 Cinemark Holdings, Inc.* 8,029 181,937 II-VI, Inc.*(b) 7,705 519,086 Eros STX Global Corp.*(b) 12,184 14,621 Insight Enterprises, Inc.* 2,604 272,066 Gaia, Inc.* 909 10,554 Intellicheck, Inc.*(b) 1,349 10,117 IMAX Corp.* 3,717 80,324 Iteris, Inc.* 3,101 22,854 Liberty Media Corp.-Liberty Itron, Inc.* 3,304 315,036 Braves, Class A*(b) 756 21,108 Kimball Electronics, Inc.* 1,801 40,306 Liberty Media Corp.-Liberty Knowles Corp.* 6,657 136,735 Braves, Class C* 2,727 74,583 Luna Innovations, Inc.* 2,193 22,259 LiveXLive Media, Inc.*(b) 3,744 18,495 Methode Electronics, Inc. 2,757 133,384 Marcus Corp. (The)*(b) 1,683 35,528 Napco Security Technologies, 1,180,865 Inc.*(b) 1,057 34,395 Equity Real Estate Investment Trusts (REITs) - 2.8% nLight, Inc.* 2,651 77,727 Acadia Realty Trust 6,371 138,251

See accompanying notes to the financial statements.

UltraPro Russell2000 Schedule of Portfolio Investments May 31, 2021

Investments Shares Value ($) Investments Shares Value ($) Agree Realty Corp. 4,681 328,981 Physicians Realty Trust 15,679 284,260 Alexander & Baldwin, Inc. 5,416 104,041 Piedmont Office Realty Trust, Inc., Alexander's, Inc. 164 44,470 Class A 9,323 172,382 Alpine Income Property Trust, Inc. 503 9,170 Plymouth Industrial REIT, Inc. 1,841 35,237 American Assets Trust, Inc. 3,781 138,196 PotlatchDeltic Corp. 4,923 296,365 American Finance Trust, Inc. 8,204 74,656 Preferred Apartment Communities, Armada Hoffler Properties, Inc. 4,324 57,379 Inc., Class A 3,575 35,071 Bluerock Residential Growth REIT, PS Business Parks, Inc. 1,514 234,609 Inc. 1,666 16,177 QTS Realty Trust, Inc., Class A(b) 4,815 305,175 Broadstone Net Lease, Inc. 2,669 58,291 Retail Opportunity Investments BRT Apartments Corp. 794 14,236 Corp. 8,691 155,221 CareTrust REIT, Inc. 7,173 166,987 Retail Properties of America, Inc., CatchMark Timber Trust, Inc., Class A 16,112 194,150 Class A 3,662 43,761 Retail Value, Inc. 1,231 21,616 Centerspace REIT 980 69,766 RLJ Lodging Trust 12,333 189,558 Chatham Lodging Trust* 3,480 45,832 RPT Realty 6,062 77,290 CIM Commercial Trust Corp. 845 10,123 Ryman Hospitality Properties, Inc.* 3,787 283,684 City Office REIT, Inc. 3,214 37,154 Sabra Health Care REIT, Inc. 15,434 269,632 Clipper Realty, Inc.(b) 1,116 9,040 Safehold, Inc.(b) 1,353 94,845 Colony Capital, Inc.*(b) 36,077 247,849 Saul Centers, Inc. 898 39,916 Columbia Property Trust, Inc. 8,598 150,379 Seritage Growth Properties, Class Community Healthcare Trust, Inc. 1,674 79,147 A*(b) 2,553 43,095 CorEnergy Infrastructure Trust, Inc. 1,025 6,240 Service Properties Trust 12,317 154,701 CorePoint Lodging, Inc.* 2,946 30,904 SITE Centers Corp. 11,510 172,305 CTO Realty Growth, Inc. 458 24,192 STAG Industrial, Inc.(b) 11,993 428,270 DiamondRock Hospitality Co.* 15,006 145,258 Summit Hotel Properties, Inc.* 7,769 74,660 Diversified Healthcare Trust 17,814 64,665 Sunstone Hotel Investors, Inc.* 16,150 202,844 Easterly Government Properties, Tanger Factory Outlet Centers, Inc. 6,127 127,013 Inc.(b) 6,803 119,257 EastGroup Properties, Inc. 2,942 465,071 Terreno Realty Corp. 5,078 323,062 Essential Properties Realty Trust, UMH Properties, Inc. 2,785 59,070 Inc. 7,814 200,038 Uniti Group, Inc. 14,515 157,633 Farmland Partners, Inc. 1,924 23,915 Universal Health Realty Income Four Corners Property Trust, Inc. 5,521 153,263 Trust 966 66,847 Franklin Street Properties Corp. 7,804 40,113 Urban Edge Properties 8,716 168,655 GEO Group, Inc. (The)(b) 8,850 45,931 Urstadt Biddle Properties, Inc., Getty Realty Corp. 2,622 81,623 Class A 2,228 40,728 Gladstone Commercial Corp. 2,524 54,695 Washington REIT 6,355 150,296 Gladstone Land Corp. 1,608 37,193 Whitestone REIT 2,995 24,799 Global Medical REIT, Inc. 3,302 47,549 Xenia Hotels & Resorts, Inc.* 8,517 165,315 Global Net Lease, Inc. 6,780 132,481 11,466,278 Healthcare Realty Trust, Inc. 10,518 319,116 Food & Staples Retailing - 0.4% Hersha Hospitality Trust* 2,553 27,445 Andersons, Inc. (The) 2,345 72,883 Independence Realty Trust, Inc. 7,654 130,730 BJ's Wholesale Club Holdings, Indus Realty Trust, Inc.(b) 256 16,860 Inc.* 10,289 460,844 Industrial Logistics Properties Trust 4,876 122,193 Chefs' Warehouse, Inc. (The)* 2,269 69,794 Innovative Industrial Properties, HF Foods Group, Inc.*(b) 2,671 16,320 Inc. 1,759 317,025 Ingles Markets, Inc., Class A 1,070 66,276 iStar, Inc.(b) 5,394 90,673 Natural Grocers by Vitamin Kite Realty Group Trust 6,234 132,161 Cottage, Inc. 683 8,189 Lexington Realty Trust 20,553 254,446 Performance Food Group Co.* 9,844 493,480 LTC Properties, Inc. 2,922 114,484 PriceSmart, Inc. 1,714 151,346 Macerich Co. (The) 11,259 179,131 Rite Aid Corp.* 4,118 75,236 Mack-Cali Realty Corp. 6,516 111,228 SpartanNash Co. 2,672 56,032 Monmouth Real Estate Investment United Natural Foods, Inc.* 4,207 159,698 Corp. 7,129 134,310 Village Super Market, Inc., Class National Health Investors, Inc. 3,273 215,723 A(b) 640 15,430 National Storage Affiliates Trust 4,707 216,993 Weis Markets, Inc. 717 36,481 NETSTREIT Corp. 1,670 37,274 1,682,009 New Senior Investment Group, Inc. 6,156 40,814 Food Products - 0.8% NexPoint Residential Trust, Inc. 1,668 86,469 Alico, Inc. 394 12,608 Office Properties Income Trust 3,595 105,082 B&G Foods, Inc.(b) 4,791 146,605 One Liberty Properties, Inc.(b) 1,210 30,915 Bridgford Foods Corp.* 135 2,385 Pebblebrook Hotel Trust 9,782 218,628 Calavo Growers, Inc. 1,239 88,217

See accompanying notes to the financial statements.

UltraPro Russell2000 Schedule of Portfolio Investments May 31, 2021

Investments Shares Value ($) Investments Shares Value ($) Cal-Maine Foods, Inc. 2,784 97,189 Heska Corp.* 523 103,632 Darling Ingredients, Inc.* 12,090 827,681 Inari Medical, Inc.* 1,252 108,861 Farmer Bros Co.* 1,239 14,918 Inogen, Inc.* 1,381 85,360 Fresh Del Monte Produce, Inc. 2,337 78,219 Integer Holdings Corp.* 2,460 222,556 Freshpet, Inc.* 3,061 541,246 Intersect ENT, Inc.* 2,441 43,084 Hostess Brands, Inc.*(b) 9,416 147,643 IntriCon Corp.* 638 14,247 J & J Snack Foods Corp. 1,127 197,879 Invacare Corp.* 2,540 20,320 John B Sanfilippo & Son, Inc. 649 60,558 iRadimed Corp.* 445 12,375 Laird Superfood, Inc.*(b) 233 7,614 iRhythm Technologies, Inc.* 2,174 164,050 Lancaster Colony Corp. 1,422 265,445 Lantheus Holdings, Inc.* 4,986 120,911 Landec Corp.* 1,949 23,329 LeMaitre Vascular, Inc. 1,251 64,064 Limoneira Co. 1,137 21,364 LENSAR, Inc.* 560 4,631 Mission Produce, Inc.* 561 11,394 LivaNova plc* 3,676 307,093 Sanderson Farms, Inc. 1,517 246,892 Lucira Health, Inc.*(b) 788 3,893 Seneca Foods Corp., Class A* 487 22,519 Meridian Bioscience, Inc.* 3,181 66,038 Simply Good Foods Co. (The)* 6,398 220,923 Merit Medical Systems, Inc.* 4,071 245,644 Tootsie Roll Industries, Inc.(b) 1,226 38,362 Mesa Laboratories, Inc. 358 88,089 Vital Farms, Inc.* 1,796 38,237 Milestone Scientific, Inc.*(b) 3,453 7,182 3,111,227 Misonix, Inc.* 909 17,444 Gas Utilities - 0.4% Natus Medical, Inc.* 2,524 67,643 Brookfield Infrastructure Corp., Nemaura Medical, Inc.*(b) 561 7,635 Class A(b) 2,383 170,575 Neogen Corp.* 3,962 365,732 Chesapeake Utilities Corp. 1,287 147,439 Nevro Corp.* 2,554 384,888 New Jersey Resources Corp. 7,166 306,132 NuVasive, Inc.* 3,863 263,457 Northwest Natural Holding Co. 2,287 120,937 OraSure Technologies, Inc.* 5,343 51,346 ONE Gas, Inc. 3,942 292,969 Ortho Clinical Diagnostics RGC Resources, Inc. 569 13,019 Holdings plc* 6,627 136,185 South Jersey Industries, Inc. 7,573 201,896 Orthofix Medical, Inc.* 1,406 57,224 Southwest Gas Holdings, Inc. 4,280 282,523 OrthoPediatrics Corp.*(b) 988 55,812 Spire, Inc. 3,775 270,516 Outset Medical, Inc.* 753 36,347 1,806,006 PAVmed, Inc.* 4,689 24,852 Health Care Equipment & Supplies - 1.7% Pulmonx Corp.* 870 37,340 Accelerate Diagnostics, Inc.*(b) 2,468 18,732 Pulse Biosciences, Inc.*(b) 1,066 19,231 Accuray, Inc.* 6,893 29,364 Quotient Ltd.* 5,440 22,630 Acutus Medical, Inc.*(b) 1,081 17,588 Repro-Med Systems, Inc.*(b) 2,027 8,655 Alphatec Holdings, Inc.* 4,136 59,972 Retractable Technologies, Inc.*(b) 1,025 9,317 AngioDynamics, Inc.* 2,753 63,649 Rockwell Medical, Inc.*(b) 5,233 4,553 Apyx Medical Corp.* 2,509 24,563 SeaSpine Holdings Corp.* 1,991 40,577 Aspira Women's Health, Inc.*(b) 6,394 35,742 Shockwave Medical, Inc.* 2,136 384,266 AtriCure, Inc.* 3,286 245,563 SI-BONE, Inc.* 2,174 65,590 Atrion Corp. 97 60,237 Sientra, Inc.* 3,894 27,102 Avanos Medical, Inc.* 3,573 143,277 Silk Road Medical, Inc.* 2,051 99,638 Axogen, Inc.* 2,790 56,637 Soliton, Inc.*(b) 522 11,630 Axonics, Inc.* 2,268 130,841 STAAR Surgical Co.* 3,438 502,051 Bellerophon Therapeutics, Inc.* 330 1,366 Stereotaxis, Inc.* 3,326 26,675 Beyond Air, Inc.*(b) 1,246 6,168 Surgalign Holdings, Inc.* 7,455 14,612 BioLife Solutions, Inc.* 1,060 35,309 Surmodics, Inc.* 1,006 53,368 BioSig Technologies, Inc.*(b) 1,874 6,784 Tactile Systems Technology, Inc.* 1,374 73,880 Bioventus, Inc., Class A* 575 10,223 Talis Biomedical Corp.* 990 9,643 Cantel Medical Corp.* 2,852 231,953 Tela Bio, Inc.* 522 7,172 Cardiovascular Systems, Inc.* 2,951 115,650 TransMedics Group, Inc.* 1,884 48,306 Cerus Corp.* 12,334 71,414 Utah Medical Products, Inc. 252 21,599 Chembio Diagnostics, Inc.*(b) 1,485 4,737 Vapotherm, Inc.* 1,477 29,215 Co-Diagnostics, Inc.*(b) 1,996 16,108 Varex Imaging Corp.* 2,863 71,833 CONMED Corp. 2,038 280,612 Venus Concept, Inc.*(b) 1,907 3,890 CryoLife, Inc.* 2,850 82,108 ViewRay, Inc.* 9,074 53,355 CryoPort, Inc.* 3,000 167,760 VolitionRX Ltd.* 2,222 7,755 Cutera, Inc.* 1,297 49,779 Zynex, Inc.*(b) 1,407 21,415 CytoSorbents Corp.*(b) 3,087 24,974 7,087,694 Eargo, Inc.* 611 20,786 Health Care Providers & Services - 1.5% Electromed, Inc.*(b) 530 5,226 1Life Healthcare, Inc.* 5,906 218,522 ESC Co.*(d) 7,530 — Accolade, Inc.*(b) 2,406 121,479 FONAR Corp.* 477 8,634 AdaptHealth Corp.* 5,640 147,712 Glaukos Corp.* 3,208 236,045 Addus HomeCare Corp.* 1,113 107,037

See accompanying notes to the financial statements.

UltraPro Russell2000 Schedule of Portfolio Investments May 31, 2021

Investments Shares Value ($) Investments Shares Value ($) AMN Healthcare Services, Inc.* 3,505 310,894 Tabula Rasa HealthCare, Inc.*(b) 1,597 69,006 Apollo Medical Holdings, Inc.* 1,519 52,983 Vocera Communications, Inc.* 2,415 81,434 Apria, Inc.* 567 17,265 2,187,333 Avalon GloboCare Corp.* 1,511 1,723 Hotels, Restaurants & Leisure - 2.1% Biodesix, Inc.* 223 3,222 Accel Entertainment, Inc.* 3,783 49,633 Brookdale Senior Living, Inc.* 13,797 92,992 Bally's Corp.* 1,091 63,311 Castle Biosciences, Inc.* 1,099 65,863 Biglari Holdings, Inc., Class A* 9 7,378 Community Health Systems, Inc.* 6,400 91,328 Biglari Holdings, Inc., Class B* 63 10,091 CorVel Corp.* 656 81,738 BJ's Restaurants, Inc.* 1,655 91,488 Covetrus, Inc.* 8,727 242,087 Bloomin' Brands, Inc.* 6,583 194,528 Cross Country Healthcare, Inc.* 2,689 42,083 Bluegreen Vacations Holding Ensign Group, Inc. (The) 3,882 322,982 Corp.* 891 18,702 Enzo Biochem, Inc.* 3,336 10,275 Boyd Gaming Corp.* 6,105 393,101 Exagen, Inc.* 364 5,187 Brinker International, Inc.* 3,404 209,176 Five Star Senior Living, Inc.* 1,411 8,480 Caesars Entertainment, Inc.* 13,530 1,453,798 Fulgent Genetics, Inc.*(b) 1,021 75,625 Carrols Restaurant Group, Inc.* 2,622 15,496 Hanger, Inc.* 2,782 71,859 Century Casinos, Inc.* 2,037 28,498 HealthEquity, Inc.* 6,028 501,047 Cheesecake Factory, Inc. (The)* 3,185 187,342 InfuSystem Holdings, Inc.* 1,099 20,332 Churchill Downs, Inc. 2,854 569,459 Joint Corp. (The)* 993 70,582 Chuy's Holdings, Inc.* 1,477 61,222 LHC Group, Inc.* 2,280 448,818 Cracker Barrel Old Country Store, Magellan Health, Inc.* 1,826 171,991 Inc. 1,783 281,215 MEDNAX, Inc.*(b) 5,601 179,120 Dave & Buster's Entertainment, ModivCare, Inc.* 909 133,832 Inc.* 3,324 140,539 National HealthCare Corp. 944 69,110 Del Taco Restaurants, Inc. 2,238 22,738 National Research Corp. 1,023 48,930 Denny's Corp.* 4,666 82,028 Ontrak, Inc.*(b) 598 18,167 Dine Brands Global, Inc.* 1,172 111,281 Option Care Health, Inc.* 6,433 117,981 El Pollo Loco Holdings, Inc.* 1,402 23,638 Owens & Minor, Inc. 5,455 243,893 Everi Holdings, Inc.* 6,166 127,821 Patterson Cos., Inc. 6,371 207,312 Fiesta Restaurant Group, Inc.* 1,354 18,413 Pennant Group, Inc. (The)* 1,917 65,696 GAN Ltd.*(b) 2,399 41,503 PetIQ, Inc.*(b) 1,603 65,883 Golden Entertainment, Inc.* 1,256 53,556 Progenity, Inc.* 1,336 3,460 Hilton Grand Vacations, Inc.* 6,398 292,580 Progyny, Inc.*(b) 2,003 128,272 International Game Technology R1 RCM, Inc.* 8,152 188,719 plc* 7,468 181,174 RadNet, Inc.* 3,270 86,557 Jack in the Box, Inc. 1,722 195,619 Select Medical Holdings Corp. 8,164 327,131 Kura Sushi USA, Inc., Class A* 250 10,745 Sharps Compliance Corp.* 1,069 14,560 Lindblad Expeditions Holdings, Surgery Partners, Inc.* 1,940 113,548 Inc.* 1,935 32,934 Tenet Healthcare Corp.* 7,853 525,444 Marriott Vacations Worldwide Tivity Health, Inc.* 3,254 85,255 Corp.* 3,044 524,451 Triple-S Management Corp., Class Monarch Casino & Resort, Inc.* 948 67,649 B* 1,705 43,137 Nathan's Famous, Inc.(b) 216 13,947 US Physical Therapy, Inc. 949 110,426 NEOGAMES SA*(b) 415 26,601 Viemed Healthcare, Inc.* 2,621 20,470 Noodles & Co.* 2,349 30,255 6,101,009 Papa John's International, Inc. 2,461 231,211 Health Care Technology - 0.5% Penn National Gaming, Inc.*(b) 11,713 960,114 Allscripts Healthcare Solutions, PlayAGS, Inc.* 1,998 20,340 Inc.* 11,810 205,376 RCI Hospitality Holdings, Inc. 631 48,902 Computer Programs and Systems, Red Robin Gourmet Burgers, Inc.* 1,164 41,741 Inc. 966 31,269 Red Rock Resorts, Inc., Class A* 4,945 221,289 Evolent Health, Inc., Class A*(b) 5,669 110,149 Ruth's Hospitality Group, Inc.* 2,433 58,732 Health Catalyst, Inc.* 2,524 135,514 Scientific Games Corp.* 4,291 311,269 HealthStream, Inc.* 1,941 50,815 SeaWorld Entertainment, Inc.* 3,818 207,814 iCAD, Inc.* 1,514 24,905 Shake Shack, Inc., Class A* 2,632 247,355 Inovalon Holdings, Inc., Class A* 5,611 175,961 Target Hospitality Corp.*(b) 2,196 8,454 Inspire Medical Systems, Inc.* 1,963 381,411 Texas Roadhouse, Inc. 4,939 497,407 NantHealth, Inc.*(b) 2,026 5,288 Wingstop, Inc. 2,225 317,463 NextGen Healthcare, Inc.* 4,190 68,800 8,804,001 Omnicell, Inc.* 3,190 443,410 Household Durables - 1.2% OptimizeRx Corp.* 1,222 60,025 Beazer Homes USA, Inc.* 2,146 51,096 Phreesia, Inc.* 2,526 125,037 Casper Sleep, Inc.* 1,904 17,384 Schrodinger, Inc.* 2,263 158,817 Cavco Industries, Inc.* 689 152,455 Simulations Plus, Inc.(b) 1,139 60,116 Century Communities, Inc.* 2,191 178,304

See accompanying notes to the financial statements.

UltraPro Russell2000 Schedule of Portfolio Investments May 31, 2021

Investments Shares Value ($) Investments Shares Value ($) Ethan Allen Interiors, Inc. 1,700 49,079 Goosehead Insurance, Inc., Class A 984 88,432 GoPro, Inc., Class A* 9,180 103,000 Greenlight Capital Re Ltd., Class Green Brick Partners, Inc.* 2,305 53,799 A* 2,037 18,842 Hamilton Beach Brands Holding HCI Group, Inc. 470 37,863 Co., Class A 516 13,003 Heritage Insurance Holdings, Inc. 1,879 15,652 Helen of Troy Ltd.* 1,838 386,862 Horace Mann Educators Corp. 3,115 124,195 Hooker Furniture Corp. 872 31,261 Independence Holding Co. 346 15,231 Installed Building Products, Inc. 1,719 203,873 Investors Title Co. 95 16,895 iRobot Corp.*(b) 2,075 202,728 James River Group Holdings Ltd. 2,245 78,395 KB Home 6,703 313,767 Kinsale Capital Group, Inc. 1,592 265,004 La-Z-Boy, Inc. 3,346 137,956 MBIA, Inc.* 3,728 37,243 Legacy Housing Corp.* 609 11,595 Midwest Holding, Inc.* 67 2,783 LGI Homes, Inc.* 1,674 302,676 National Western Life Group, Inc., Lifetime Brands, Inc. 909 13,635 Class A 190 46,554 Lovesac Co. (The)*(b) 752 62,431 NI Holdings, Inc.* 681 12,980 M/I Homes, Inc.* 2,096 147,810 Palomar Holdings, Inc.*(b) 1,519 110,887 MDC Holdings, Inc. 4,246 246,056 ProAssurance Corp. 4,024 97,984 Meritage Homes Corp.* 2,791 300,507 ProSight Global, Inc.* 700 8,960 Purple Innovation, Inc.* 2,437 69,503 RLI Corp. 2,970 313,276 Skyline Champion Corp.* 3,948 199,966 Safety Insurance Group, Inc. 1,072 91,238 Sonos, Inc.* 9,034 334,258 Selective Insurance Group, Inc. 4,440 334,199 Taylor Morrison Home Corp., Class Selectquote, Inc.* 9,817 199,481 A* 9,483 280,886 SiriusPoint Ltd.* 6,322 66,507 TopBuild Corp.* 2,483 491,758 State Auto Financial Corp. 1,322 24,986 Tri Pointe Homes, Inc.* 9,479 228,633 Stewart Information Services Corp. 1,984 119,734 Tupperware Brands Corp.* 3,683 94,432 Tiptree, Inc. 1,835 19,763 Universal Electronics, Inc.* 1,001 50,110 Trean Insurance Group, Inc.* 883 14,834 VOXX International Corp.* 1,489 22,395 Trupanion, Inc.* 2,263 204,055 4,751,218 United Fire Group, Inc. 1,569 48,090 Household Products - 0.1% United Insurance Holdings Corp. 1,526 8,607 Central Garden & Pet Co.* 726 39,879 Universal Insurance Holdings, Inc. 2,040 28,764 Central Garden & Pet Co., Class A* 3,006 151,653 Vericity, Inc.* 132 1,196 Oil-Dri Corp. of America 387 14,145 Watford Holdings Ltd.* 1,291 45,108 WD-40 Co. 1,024 250,675 3,985,054 456,352 Interactive Media & Services - 0.2% Independent Power and Renewable Electricity Producers - 0.2% Cargurus, Inc.* 6,593 186,054 Brookfield Renewable Corp. 9,666 412,932 Cars.com, Inc.* 5,069 74,058 Clearway Energy, Inc., Class A 2,624 65,941 DHI Group, Inc.* 3,604 11,533 Clearway Energy, Inc., Class C 6,158 165,219 Eventbrite, Inc., Class A*(b) 4,829 98,029 Ormat Technologies, Inc.(b) 3,283 226,691 EverQuote, Inc., Class A* 1,058 33,359 Sunnova Energy International, Liberty TripAdvisor Holdings, Inc., Inc.* 4,207 122,844 Class A* 5,460 25,990 993,627 MediaAlpha, Inc., Class A* 1,335 56,497 Industrial Conglomerates - 0.0%(e) QuinStreet, Inc.* 3,617 65,504 Raven Industries, Inc. 2,675 118,048 TrueCar, Inc.* 7,731 45,690 Yelp, Inc.* 5,409 216,955 Insurance - 1.0% 813,669 Ambac Financial Group, Inc.* 3,403 51,351 Internet & Direct Marketing Retail - 0.3% American Equity Investment Life 1-800-Flowers.com, Inc., Class A* 1,916 58,381 Holding Co. 6,818 207,949 CarParts.com, Inc.* 2,564 41,896 AMERISAFE, Inc. 1,443 94,560 Duluth Holdings, Inc., Class B*(b) 830 13,363 Argo Group International Holdings Groupon, Inc.* 1,754 82,876 Ltd. 2,438 130,774 Lands' End, Inc.* 874 22,383 BRP Group, Inc., Class A* 3,187 78,337 Liquidity Services, Inc.* 1,982 47,390 Citizens, Inc.*(b) 3,722 19,429 Overstock.com, Inc.* 3,204 273,718 CNO Financial Group, Inc. 10,138 269,265 PetMed Express, Inc.(b) 1,471 42,512 Crawford & Co., Class A 1,216 11,759 Quotient Technology, Inc.* 6,528 76,769 Donegal Group, Inc., Class A 845 12,920 RealReal, Inc. (The)* 4,774 83,402 eHealth, Inc.* 1,938 126,455 Shutterstock, Inc. 1,639 148,739 Employers Holdings, Inc. 2,160 91,152 Stamps.com, Inc.* 1,281 240,418 Enstar Group Ltd.* 905 229,770 Stitch Fix, Inc., Class A* 4,442 237,469 FedNat Holding Co. 927 4,440 Waitr Holdings, Inc.*(b) 6,281 12,750 Genworth Financial, Inc., Class A* 37,894 159,155 1,382,066

See accompanying notes to the financial statements.

UltraPro Russell2000 Schedule of Portfolio Investments May 31, 2021

Investments Shares Value ($) Investments Shares Value ($) IT Services - 0.7% Pacific Biosciences of California, BM Technologies, Inc.*(b) 39 501 Inc.* 13,693 370,396 Brightcove, Inc.* 2,966 43,007 Personalis, Inc.* 1,984 44,620 Cardtronics plc, Class A* 2,704 105,267 Quanterix Corp.* 1,801 92,733 Cass Information Systems, Inc. 1,063 48,505 Seer, Inc.*(b) 1,087 32,153 Conduent, Inc.* 12,391 93,924 1,696,225 Contra BmTechnologies* 370 4,754 Machinery - 2.0% CSG Systems International, Inc. 2,430 107,017 Agrify Corp.* 472 4,423 EVERTEC, Inc. 4,525 196,973 Alamo Group, Inc. 744 114,710 Evo Payments, Inc., Class A* 3,435 98,378 Albany International Corp., Class A 2,312 206,577 ExlService Holdings, Inc.* 2,483 253,216 Altra Industrial Motion Corp. 4,843 318,137 GreenSky, Inc., Class A* 4,746 27,812 Astec Industries, Inc. 1,684 115,405 Grid Dynamics Holdings, Inc.* 2,045 31,432 Barnes Group, Inc. 3,532 188,679 GTT Communications, Inc.* 2,387 3,557 Blue Bird Corp.* 1,168 30,555 Hackett Group, Inc. (The) 1,878 33,447 Chart Industries, Inc.* 2,707 395,060 I3 Verticals, Inc., Class A*(b) 1,394 43,312 CIRCOR International, Inc.* 1,495 56,257 IBEX Holdings Ltd.* 443 9,631 Columbus McKinnon Corp. 1,757 89,080 Information Services Group, Inc.* 2,699 15,816 Douglas Dynamics, Inc. 1,692 74,194 International Money Express, Inc.* 2,150 32,830 Eastern Co. (The) 408 13,007 Limelight Networks, Inc.*(b) 9,043 28,033 Energy Recovery, Inc.*(b) 3,015 57,315 LiveRamp Holdings, Inc.* 4,894 245,874 Enerpac Tool Group Corp. 4,513 123,656 Maximus, Inc. 4,595 425,819 EnPro Industries, Inc. 1,556 143,136 MoneyGram International, Inc.* 4,657 45,639 ESCO Technologies, Inc. 1,923 181,993 Paysign, Inc.*(b) 2,347 7,769 Evoqua Water Technologies Corp.* 8,673 269,904 Perficient, Inc.* 2,447 175,181 ExOne Co. (The)*(b) 1,081 23,047 PFSweb, Inc.* 1,195 8,998 Federal Signal Corp. 4,494 190,905 Priority Technology Holdings, Franklin Electric Co., Inc. 3,453 289,672 Inc.* 566 4,386 Gencor Industries, Inc.* 790 9,922 Rackspace Technology, Inc.*(b) 2,591 52,286 Gorman-Rupp Co. (The) 1,327 47,746 Repay Holdings Corp.* 5,001 113,573 Graham Corp. 722 10,606 ServiceSource International, Inc.* 6,622 8,211 Greenbrier Cos., Inc. (The) 2,423 107,605 StarTek, Inc.* 1,312 8,305 Helios Technologies, Inc. 2,337 166,044 Sykes Enterprises, Inc.* 2,866 120,143 Hillenbrand, Inc. 5,567 253,855 TTEC Holdings, Inc. 1,370 148,522 Hurco Cos., Inc. 467 16,060 Tucows, Inc., Class A* 706 55,139 Hydrofarm Holdings Group, Unisys Corp.* 4,647 119,474 Inc.*(b) 721 44,911 Verra Mobility Corp.*(b) 10,047 143,170 Hyster-Yale Materials Handling, 2,859,901 Inc. 747 56,466 Leisure Products - 0.4% John Bean Technologies Corp. 2,347 338,038 Acushnet Holdings Corp. 2,573 136,883 Kadant, Inc. 861 144,665 American Outdoor Brands, Inc.* 1,042 33,375 Kennametal, Inc. 6,234 233,837 Callaway Golf Co.* 7,010 258,809 L B Foster Co., Class A* 754 13,565 Clarus Corp. 1,820 43,116 Lindsay Corp. 813 133,844 Escalade, Inc.(b) 773 18,900 Luxfer Holdings plc 2,071 47,343 Johnson Outdoors, Inc., Class A 395 48,265 Lydall, Inc.* 1,287 46,821 Malibu Boats, Inc., Class A* 1,559 122,257 Manitowoc Co., Inc. (The)* 2,547 65,764 Marine Products Corp. 537 8,721 Mayville Engineering Co., Inc.* 556 10,809 MasterCraft Boat Holdings, Inc.* 1,394 38,697 Meritor, Inc.* 5,213 135,538 Nautilus, Inc.*(b) 2,264 40,775 Miller Industries, Inc. 834 34,903 Smith & Wesson Brands, Inc. 4,164 88,527 Mueller Industries, Inc. 4,204 195,192 Sturm Ruger & Co., Inc. 1,265 99,859 Mueller Water Products, Inc., Class Vista Outdoor, Inc.* 4,383 191,055 A 11,777 170,413 YETI Holdings, Inc.*(b) 6,007 526,213 Navistar International Corp.* 3,746 165,686 1,655,452 NN, Inc.* 3,155 23,694 Life Sciences Tools & Services - 0.4% Omega Flex, Inc. 211 31,028 Champions Oncology, Inc.* 510 4,799 Park-Ohio Holdings Corp. 652 24,052 ChromaDex Corp.*(b) 3,093 25,672 Proto Labs, Inc.* 2,006 179,316 Codexis, Inc.* 4,331 88,786 RBC Bearings, Inc.* 1,847 361,624 Fluidigm Corp.*(b) 5,552 32,202 REV Group, Inc.* 2,067 38,694 Harvard Bioscience, Inc.* 2,875 20,125 Rexnord Corp. 9,047 452,079 Luminex Corp. 3,232 119,228 Shyft Group, Inc. (The) 2,591 100,997 Medpace Holdings, Inc.* 2,073 346,315 SPX Corp.* 3,231 202,358 NanoString Technologies, Inc.* 3,320 184,227 SPX FLOW, Inc. 3,199 219,547 NeoGenomics, Inc.* 8,164 334,969 Standex International Corp. 924 92,067

See accompanying notes to the financial statements.

UltraPro Russell2000 Schedule of Portfolio Investments May 31, 2021

Investments Shares Value ($) Investments Shares Value ($) Tennant Co. 1,371 113,437 Hecla Mining Co. 39,206 352,854 Terex Corp. 5,057 264,835 Kaiser Aluminum Corp. 1,180 152,680 TriMas Corp.* 3,086 100,048 Materion Corp. 1,525 120,246 Wabash National Corp. 3,973 63,369 Novagold Resources, Inc.* 17,853 183,172 Watts Water Technologies, Inc., Olympic Steel, Inc. 686 24,524 Class A 2,057 279,546 Ryerson Holding Corp.* 1,206 19,971 Welbilt, Inc.* 9,792 241,960 Schnitzer Steel Industries, Inc., 8,123,996 Class A 1,959 106,726 Marine - 0.1% SunCoke Energy, Inc. 6,237 46,965 Costamare, Inc. 3,797 40,742 TimkenSteel Corp.* 3,380 51,207 Eagle Bulk Shipping, Inc.* 480 22,718 United States Steel Corp.(b) 19,596 508,124 Eneti, Inc. 638 12,830 Warrior Met Coal, Inc. 3,867 70,766 Genco Shipping & Trading Ltd. 1,290 20,382 Worthington Industries, Inc. 2,621 173,956 Matson, Inc. 3,210 207,527 4,514,332 Pangaea Logistics Solutions Ltd. 795 3,220 Mortgage Real Estate Investment Trusts (REITs) - 0.6% Safe Bulkers, Inc.* 3,900 14,391 Apollo Commercial Real Estate 321,810 Finance, Inc. 10,594 165,796 Media - 0.5% Arbor Realty Trust, Inc. 8,671 158,159 AMC Networks, Inc., Class A* 2,134 114,553 Ares Commercial Real Estate Corp. 2,313 35,088 Boston Omaha Corp., Class A* 988 30,292 Arlington Asset Investment Corp., Cardlytics, Inc.* 2,244 239,098 Class A* 2,488 10,126 comScore, Inc.* 4,550 18,200 ARMOUR Residential REIT, Inc. 4,808 57,648 Daily Journal Corp.* 103 32,908 Blackstone Mortgage Trust, Inc., Emerald Holding, Inc.* 1,838 10,385 Class A 10,470 335,354 Entercom Communications Corp.* 8,808 38,315 Broadmark Realty Capital, Inc. 9,664 99,443 Entravision Communications Corp., Capstead Mortgage Corp. 7,167 46,227 Class A 4,417 20,627 Cherry Hill Mortgage Investment EW Scripps Co. (The), Class A 4,207 89,230 Corp. 1,140 11,195 Fluent, Inc.* 3,139 9,072 Chimera Investment Corp. 14,424 203,811 Gannett Co., Inc.*(b) 9,997 51,285 Colony Credit Real Estate, Inc. 6,316 59,686 Gray Television, Inc. 6,517 151,585 Dynex Capital, Inc. 1,915 37,438 Hemisphere Media Group, Inc.* 1,230 15,215 Ellington Financial, Inc. 3,100 58,528 iHeartMedia, Inc., Class A* 4,594 106,627 Ellington Residential Mortgage Loral Space & Communications, REIT 677 8,307 Inc.(b) 964 36,487 Granite Point Mortgage Trust, Inc. 4,099 58,944 Magnite, Inc.* 8,303 246,599 Great Ajax Corp. 1,559 19,644 Meredith Corp.* 2,979 100,333 Hannon Armstrong Sustainable MSG Networks, Inc., Class A* 2,275 35,080 Infrastructure Capital, Inc. 5,515 271,393 National CineMedia, Inc. 4,676 22,632 Invesco Mortgage Capital, Inc.(b) 17,464 59,378 Saga Communications, Inc., Class KKR Real Estate Finance Trust, A* 291 6,871 Inc. 2,146 45,882 Scholastic Corp. 2,185 73,591 Ladder Capital Corp. 7,937 92,863 Sinclair Broadcast Group, Inc., MFA Financial, Inc. 34,091 148,978 Class A 3,324 111,986 New York Mortgage Trust, Inc. 28,458 128,630 TechTarget, Inc.* 1,792 125,996 Orchid Island Capital, Inc.(b) 6,424 35,139 TEGNA, Inc. 16,479 319,528 PennyMac Mortgage Investment WideOpenWest, Inc.* 3,932 65,546 Trust 7,367 144,393 2,072,041 Ready Capital Corp. 4,386 66,755 Metals & Mining - 1.1% Redwood Trust, Inc. 8,415 93,659 Alcoa Corp.* 14,074 558,316 TPG RE Finance Trust, Inc. 4,507 58,771 Allegheny Technologies, Inc.* 9,535 233,512 Two Harbors Investment Corp. 20,575 147,934 Arconic Corp.* 7,476 270,407 Western Asset Mortgage Capital Caledonia Mining Corp. plc(b) 882 12,983 Corp.(b) 4,469 14,792 Carpenter Technology Corp. 3,568 170,979 2,673,961 Century Aluminum Co.* 3,793 51,623 Multiline Retail - 0.2% Cleveland-Cliffs, Inc.*(b) 33,727 678,587 Big Lots, Inc. 2,785 169,718 Coeur Mining, Inc.* 18,193 189,207 Dillard's, Inc., Class A(b) 530 69,912 Commercial Metals Co. 8,937 281,247 Franchise Group, Inc. 1,640 60,582 Compass Minerals International, Macy's, Inc.* 23,462 428,885 Inc. 2,565 179,294 729,097 Gatos Silver, Inc.*(b) 1,773 30,212 Multi-Utilities - 0.2% Gold Resource Corp. 5,033 13,992 Avista Corp. 5,168 234,265 Haynes International, Inc. 942 32,782 Black Hills Corp. 4,725 310,858

See accompanying notes to the financial statements.

UltraPro Russell2000 Schedule of Portfolio Investments May 31, 2021

Investments Shares Value ($) Investments Shares Value ($) NorthWestern Corp. 3,816 241,744 Glatfelter Corp. 3,286 48,501 Unitil Corp. 1,103 60,499 Louisiana-Pacific Corp. 8,249 554,415 847,366 Neenah, Inc. 1,257 66,533 Oil, Gas & Consumable Fuels - 1.1% Schweitzer-Mauduit International, Adams Resources & Energy, Inc. 2,334 95,484 Inc.(b) 173 4,692 Verso Corp., Class A 2,347 39,923 Antero Resources Corp.* 18,233 235,388 1,063,510 Arch Resources, Inc.* 1,132 64,603 Personal Products - 0.2% Ardmore Shipping Corp.* 2,514 11,288 BellRing Brands, Inc., Class A* 2,989 85,725 Berry Corp. 5,087 32,353 Edgewell Personal Care Co. 4,093 185,740 Bonanza Creek Energy, Inc.* 1,583 68,006 elf Beauty, Inc.* 3,434 96,152 Brigham Minerals, Inc., Class A 3,187 57,812 Inter Parfums, Inc. 1,332 101,871 Clean Energy Fuels Corp.* 9,763 77,323 Lifevantage Corp.* 1,017 8,106 CNX Resources Corp.* 16,387 223,191 Medifast, Inc. 846 281,084 Comstock Resources, Inc.* 1,837 10,342 Nature's Sunshine Products, Inc. 669 13,708 CONSOL Energy, Inc.* 2,250 34,515 Revlon, Inc., Class A*(b) 524 6,712 Contango Oil & Gas Co.*(b) 8,616 37,566 USANA Health Sciences, Inc.* 869 91,888 CVR Energy, Inc.* 2,221 46,086 Veru, Inc.* 4,106 36,256 Delek US Holdings, Inc. 4,694 104,627 907,242 DHT Holdings, Inc. 8,372 53,581 Pharmaceuticals - 0.7% Diamond S Shipping, Inc.* 2,058 22,000 AcelRx Pharmaceuticals, Inc.*(b) 7,537 10,476 Dorian LPG Ltd.* 2,771 39,376 Aerie Pharmaceuticals, Inc.*(b) 2,753 44,846 Earthstone Energy, Inc., Class A* 1,764 16,952 Agile Therapeutics, Inc.*(b) 5,097 8,206 Energy Fuels, Inc.*(b) 10,014 64,991 Amneal Pharmaceuticals, Inc.*(b) 7,446 42,144 Evolution Petroleum Corp.(b) 2,331 8,601 Amphastar Pharmaceuticals, Inc.* 2,741 51,860 Falcon Minerals Corp. 2,864 13,346 Angion Biomedica Corp.*(b) 439 6,778 Frontline Ltd.(b) 8,867 75,547 ANI Pharmaceuticals, Inc.*(b) 710 24,389 Golar LNG Ltd.* 7,686 97,612 Antares Pharma, Inc.*(b) 12,343 49,002 Goodrich Petroleum Corp.* 690 7,638 Aquestive Therapeutics, Inc.*(b) 1,488 5,521 Green Plains, Inc.* 2,566 81,830 Arvinas, Inc.* 2,716 197,562 International Seaways, Inc. 1,801 36,092 Atea Pharmaceuticals, Inc.* 1,090 22,258 Kosmos Energy Ltd.* 30,283 96,300 Athira Pharma, Inc.*(b) 1,044 20,817 Magnolia Oil & Gas Corp., Class Avenue Therapeutics, Inc.*(b) 498 2,470 A* 9,311 120,298 Axsome Therapeutics, Inc.*(b) 2,076 126,034 Matador Resources Co. 8,285 253,852 Aytu BioPharma, Inc.*(b) 1,639 8,326 NACCO Industries, Inc., Class A 286 7,319 BioDelivery Sciences International, NextDecade Corp.*(b) 1,574 3,038 Inc.* 6,740 23,792 Nordic American Tankers Ltd. 11,069 38,520 Cara Therapeutics, Inc.*(b) 3,090 41,993 Overseas Shipholding Group, Inc., Cassava Sciences, Inc.*(b) 2,456 132,428 Class A* 4,957 11,451 Cerecor, Inc.* 3,232 8,533 Ovintiv, Inc. 19,665 523,679 Chiasma, Inc.*(b) 3,763 15,918 Par Pacific Holdings, Inc.* 3,008 41,871 Collegium Pharmaceutical, Inc.* 2,581 61,660 PBF Energy, Inc., Class A* 7,249 116,999 Corcept Therapeutics, Inc.* 7,308 157,853 PDC Energy, Inc.* 7,495 316,439 CorMedix, Inc.*(b) 2,444 17,670 Peabody Energy Corp.* 4,713 31,247 Cymabay Therapeutics, Inc.* 5,203 22,009 Penn Virginia Corp.* 1,142 22,018 Durect Corp.* 16,748 27,634 PrimeEnergy Resources Corp.* 40 1,651 Eloxx Pharmaceuticals, Inc.*(b) 1,992 3,108 Range Resources Corp.* 16,088 218,153 Endo International plc* 17,013 99,866 Renewable Energy Group, Inc.* 3,244 198,111 Eton Pharmaceuticals, Inc.*(b) 1,289 9,100 REX American Resources Corp.* 410 39,372 Evofem Biosciences, Inc.* 5,757 4,951 Scorpio Tankers, Inc.(b) 3,797 84,977 Evolus, Inc.*(b) 1,633 17,669 SFL Corp. Ltd. 7,101 61,495 Fulcrum Therapeutics, Inc.* 1,282 11,448 SM Energy Co. 8,572 170,583 Graybug Vision, Inc.*(b) 488 1,942 Southwestern Energy Co.* 48,618 251,355 Harmony Biosciences Holdings, Talos Energy, Inc.*(b) 1,024 14,520 Inc.* 468 14,957 Tellurian, Inc.*(b) 12,626 55,049 Harrow Health, Inc.* 1,676 15,419 Uranium Energy Corp.*(b) 14,643 45,833 IMARA, Inc.*(b) 572 4,158 W&T Offshore, Inc.*(b) 7,086 26,502 Innoviva, Inc.* 4,764 64,076 Whiting Petroleum Corp.* 98 4,488 Intra-Cellular Therapies, Inc.* 4,984 196,419 World Fuel Services Corp. 4,693 144,216 Kala Pharmaceuticals, Inc.*(b) 2,969 16,775 4,424,694 Kaleido Biosciences, Inc.*(b) 1,026 7,367 Paper & Forest Products - 0.3% Landos Biopharma, Inc.* 478 5,248 Clearwater Paper Corp.* 1,210 34,521 Lannett Co., Inc.* 2,470 10,621 Domtar Corp.* 4,133 224,133 Liquidia Corp.*(b) 2,034 6,122

See accompanying notes to the financial statements.

UltraPro Russell2000 Schedule of Portfolio Investments May 31, 2021

Investments Shares Value ($) Investments Shares Value ($) Lyra Therapeutics, Inc.* 512 3,676 TrueBlue, Inc.* 2,635 71,488 Marinus Pharmaceuticals, Inc.*(b) 2,187 36,785 Upwork, Inc.* 6,976 328,360 NGM Biopharmaceuticals, Inc.* 1,930 29,066 Willdan Group, Inc.* 773 28,106 Ocular Therapeutix, Inc.* 5,474 79,701 3,361,951 Odonate Therapeutics, Inc.*(b) 1,174 4,062 Real Estate Management & Development - 0.4% Omeros Corp.*(b) 4,441 67,459 Alset EHome International, Inc.* 169 688 Optinose, Inc.*(b) 2,626 8,377 Altisource Portfolio Solutions SA* 342 2,336 Osmotica Pharmaceuticals plc*(b) 946 2,753 American Realty Investors, Inc.* 86 916 Pacira BioSciences, Inc.* 3,207 194,569 Cushman & Wakefield plc*(b) 8,302 157,821 Paratek Pharmaceuticals, Inc.*(b) 3,279 26,953 eXp World Holdings, Inc.*(b) 3,734 120,459 Phathom Pharmaceuticals, Inc.* 868 30,684 Fathom Holdings, Inc.*(b) 364 12,019 Phibro Animal Health Corp., Class Forestar Group, Inc.* 1,250 28,762 A 1,531 43,159 FRP Holdings, Inc.* 481 27,576 Pliant Therapeutics, Inc.*(b) 1,802 54,168 Kennedy-Wilson Holdings, Inc. 9,069 179,929 Prestige Consumer Healthcare, Marcus & Millichap, Inc.* 1,751 68,814 Inc.* 3,781 188,559 Maui Land & Pineapple Co., Inc.* 506 5,394 Provention Bio, Inc.*(b) 3,980 30,288 Newmark Group, Inc., Class A 10,889 140,468 Recro Pharma, Inc.* 1,453 3,327 Rafael Holdings, Inc., Class B* 717 37,069 Relmada Therapeutics, Inc.* 1,099 38,014 RE/MAX Holdings, Inc., Class A 1,370 47,964 Revance Therapeutics, Inc.* 4,725 139,907 Realogy Holdings Corp.* 8,612 152,518 Satsuma Pharmaceuticals, Inc.* 690 3,602 Redfin Corp.*(b) 7,489 442,076 scPharmaceuticals, Inc.* 522 2,955 RMR Group, Inc. (The), Class A 1,141 44,636 SIGA Technologies, Inc.* 3,917 27,615 St Joe Co. (The) 2,468 115,428 Strongbridge Biopharma plc* 3,306 8,331 Stratus Properties, Inc.* 451 12,254 Supernus Pharmaceuticals, Inc.*(b) 3,666 109,430 Tejon Ranch Co.*(b) 1,570 23,487 Tarsus Pharmaceuticals, Inc.*(b) 467 15,561 Transcontinental Realty Investors, Terns Pharmaceuticals, Inc.*(b) 649 11,104 Inc.* 91 2,648 TherapeuticsMD, Inc.*(b) 25,331 30,651 1,623,262 Theravance Biopharma, Inc.*(b) 3,503 60,532 Road & Rail - 0.3% Tricida, Inc.* 2,121 9,778 ArcBest Corp. 1,889 147,040 Verrica Pharmaceuticals, Inc.*(b) 936 10,539 Avis Budget Group, Inc.* 3,957 347,504 VYNE Therapeutics, Inc.*(b) 2,726 10,768 Covenant Logistics Group, Inc., WaVe Life Sciences Ltd.* 2,463 16,847 Class A* 870 19,584 Xeris Pharmaceuticals, Inc.*(b) 3,451 10,767 Daseke, Inc.* 3,416 24,732 Zogenix, Inc.* 4,167 73,131 Heartland Express, Inc. 3,657 66,374 3,002,543 Marten Transport Ltd. 4,447 75,866 Professional Services - 0.8% PAM Transportation Services, Inc.* 137 7,951 Acacia Research Corp.* 3,572 19,110 Saia, Inc.* 1,975 454,566 Akerna Corp.*(b) 1,488 6,517 Universal Logistics Holdings, Inc. 576 14,400 ASGN, Inc.* 3,828 394,629 US Xpress Enterprises, Inc., Class Barrett Business Services, Inc. 568 42,299 A* 1,667 18,737 BGSF, Inc. 737 8,748 Werner Enterprises, Inc. 4,504 216,147 CBIZ, Inc.* 3,828 127,128 1,392,901 CRA International, Inc. 564 46,169 Semiconductors & Semiconductor Equipment - 1.5% Exponent, Inc. 3,859 352,057 Advanced Energy Industries, Inc. 2,858 291,545 Forrester Research, Inc.* 828 35,529 Alpha & Omega Semiconductor Franklin Covey Co.* 949 29,419 Ltd.* 1,590 51,214 GP Strategies Corp.* 980 17,336 Ambarella, Inc.* 2,543 255,266 Heidrick & Struggles International, Amkor Technology, Inc. 7,495 158,144 Inc. 1,445 62,193 Atomera, Inc.*(b) 1,367 23,991 Huron Consulting Group, Inc.* 1,701 93,062 Axcelis Technologies, Inc.* 2,499 103,559 ICF International, Inc. 1,364 119,896 AXT, Inc.*(b) 2,969 30,224 Insperity, Inc. 2,698 248,729 Brooks Automation, Inc. 5,459 557,309 KBR, Inc. 10,702 436,000 CEVA, Inc.* 1,651 74,080 Kelly Services, Inc., Class A* 2,524 64,791 CMC Materials, Inc. 2,185 337,211 Kforce, Inc. 1,478 92,685 Cohu, Inc.* 3,167 117,876 Korn Ferry 4,035 263,929 CyberOptics Corp.* 530 15,794 ManTech International Corp., Class Diodes, Inc.* 3,218 243,506 A 2,034 176,978 DSP Group, Inc.* 1,672 26,284 Mastech Digital, Inc.* 292 4,602 FormFactor, Inc.* 5,802 204,520 Mistras Group, Inc.* 1,368 14,241 GSI Technology, Inc.* 1,245 7,781 Red Violet, Inc.*(b) 511 11,232 Ichor Holdings Ltd.* 2,032 114,320 Resources Connection, Inc. 2,316 33,767 Impinj, Inc.* 1,291 67,197 TriNet Group, Inc.* 3,092 232,951

See accompanying notes to the financial statements.

UltraPro Russell2000 Schedule of Portfolio Investments May 31, 2021

Investments Shares Value ($) Investments Shares Value ($) Lattice Semiconductor Corp.* 10,214 542,057 ON24, Inc.* 651 20,949 MACOM Technology Solutions OneSpan, Inc.* 2,508 65,584 Holdings, Inc.* 3,617 214,126 Park City Group, Inc.*(b) 927 5,553 Maxeon Solar Technologies Ping Identity Holding Corp.*(b) 2,781 67,050 Ltd.*(b) 794 12,402 Progress Software Corp. 3,323 148,106 MaxLinear, Inc.* 5,147 195,689 PROS Holdings, Inc.* 3,012 133,642 NeoPhotonics Corp.* 3,727 38,053 Q2 Holdings, Inc.* 3,785 359,310 NVE Corp. 363 25,359 QAD, Inc., Class A 880 62,885 Onto Innovation, Inc.* 3,561 255,573 Qualys, Inc.* 2,553 246,824 PDF Solutions, Inc.* 2,175 37,932 Rapid7, Inc.* 3,884 324,897 Photronics, Inc.* 4,664 63,151 Rimini Street, Inc.*(b) 1,724 11,223 Pixelworks, Inc.* 3,418 11,929 Sailpoint Technologies Holdings, Power Integrations, Inc. 4,427 363,855 Inc.* 6,618 307,936 Rambus, Inc.* 8,517 166,593 Sapiens International Corp. NV 2,063 59,229 Semtech Corp.* 4,850 305,550 SeaChange International, Inc.*(b) 2,286 2,652 Silicon Laboratories, Inc.* 3,255 444,503 SecureWorks Corp., Class A* 675 9,504 SiTime Corp.* 877 86,235 ShotSpotter, Inc.* 599 24,385 SMART Global Holdings, Inc.* 1,097 51,998 Smith Micro Software, Inc.* 2,570 13,852 SunPower Corp.*(b) 5,749 134,469 Sprout Social, Inc., Class A* 2,095 145,435 Synaptics, Inc.* 2,627 331,869 SPS Commerce, Inc.* 2,669 250,512 Ultra Clean Holdings, Inc.* 3,011 169,610 Sumo Logic, Inc.* 1,081 20,323 Veeco Instruments, Inc.* 3,655 87,062 SVMK, Inc.* 9,225 179,426 6,217,836 Synchronoss Technologies, Inc.* 2,966 8,631 Software - 2.6% Telos Corp.*(b) 1,245 40,936 8x8, Inc.* 8,013 188,706 Tenable Holdings, Inc.* 5,336 223,045 A10 Networks, Inc.* 4,501 43,795 Upland Software, Inc.* 1,995 81,775 ACI Worldwide, Inc.* 8,598 328,960 Varonis Systems, Inc.* 7,607 367,418 Agilysys, Inc.* 1,436 72,934 Verint Systems, Inc.* 4,876 224,832 Alarm.com Holdings, Inc.*(b) 3,571 292,393 Veritone, Inc.* 1,987 38,091 Altair Engineering, Inc., Class Viant Technology, Inc., Class A* 807 23,556 A*(b) 3,260 219,626 VirnetX Holding Corp.*(b) 4,757 21,787 American Software, Inc., Class Workiva, Inc.* 2,982 282,992 A(b) 2,273 45,733 Xperi Holding Corp. 7,848 168,104 Appfolio, Inc., Class A* 1,221 164,701 Yext, Inc.* 7,899 114,299 Appian Corp.*(b) 2,668 241,401 Zix Corp.* 4,103 28,598 Asure Software, Inc.* 1,214 10,258 Zuora, Inc., Class A* 7,751 119,908 Avaya Holdings Corp.* 6,282 180,168 10,597,745 Benefitfocus, Inc.* 2,181 32,257 Specialty Retail - 1.9% Blackbaud, Inc.* 3,655 258,372 Aaron's Co., Inc. (The) 2,533 91,112 Blackline, Inc.* 3,823 397,477 Abercrombie & Fitch Co., Class A* 4,680 199,836 Bottomline Technologies DE, Inc.* 3,330 124,475 Academy Sports & Outdoors, Inc.* 2,091 76,384 Box, Inc., Class A* 10,770 251,049 American Eagle Outfitters, Inc.(b) 11,327 401,316 Cerence, Inc.*(b) 2,856 271,691 America's Car-Mart, Inc.* 458 75,291 ChannelAdvisor Corp.* 2,098 49,786 Asbury Automotive Group, Inc.* 1,447 286,926 Cloudera, Inc.* 15,393 197,954 At Home Group, Inc.* 4,077 153,051 Cognyte Software Ltd.* 4,876 125,508 Bed Bath & Beyond, Inc.*(b) 9,127 255,465 CommVault Systems, Inc.* 3,170 241,459 Boot Barn Holdings, Inc.* 2,146 163,933 Cornerstone OnDemand, Inc.* 4,615 202,922 Buckle, Inc. (The) 2,179 91,780 Digimarc Corp.*(b) 900 31,293 Caleres, Inc. 2,713 68,042 Digital Turbine, Inc.* 6,323 418,393 Camping World Holdings, Inc., Domo, Inc., Class B* 1,994 132,601 Class A(b) 2,467 109,510 Ebix, Inc.(b) 2,012 55,129 Cato Corp. (The), Class A* 1,519 23,484 eGain Corp.* 1,591 15,974 Chico's FAS, Inc.* 8,925 41,501 Envestnet, Inc.* 3,987 286,944 Children's Place, Inc. (The)* 1,063 98,848 GTY Technology Holdings, Citi Trends, Inc.* 715 59,588 Inc.*(b) 3,451 20,706 Conn's, Inc.* 1,313 30,449 Intelligent Systems Corp.*(b) 563 18,393 Container Store Group, Inc. (The)* 2,382 32,300 InterDigital, Inc. 2,307 186,359 Designer Brands, Inc., Class A* 4,635 81,066 J2 Global, Inc.* 3,257 405,594 Envela Corp.* 576 2,465 LivePerson, Inc.*(b) 4,683 257,331 Express, Inc.* 4,775 20,485 MicroStrategy, Inc., Class A* 552 259,440 GameStop Corp., Class A*(b) 4,293 953,046 Mimecast Ltd.* 4,365 218,206 Genesco, Inc.* 1,090 59,950 Mitek Systems, Inc.* 3,126 53,017 Group 1 Automotive, Inc. 1,307 208,440 Model N, Inc.* 2,621 93,491 GrowGeneration Corp.* 3,057 135,761

See accompanying notes to the financial statements.

UltraPro Russell2000 Schedule of Portfolio Investments May 31, 2021

Investments Shares Value ($) Investments Shares Value ($) Guess?, Inc. 2,982 87,581 Flagstar Bancorp, Inc. 3,613 165,475 Haverty Furniture Cos., Inc. 1,228 56,414 FS Bancorp, Inc. 287 20,429 Hibbett Sports, Inc.* 1,245 105,526 Greene County Bancorp, Inc. 225 6,448 Lithia Motors, Inc., Class A 2,187 769,802 Hingham Institution For Savings Lumber Liquidators Holdings, Inc.* 2,144 48,840 (The) 97 28,154 MarineMax, Inc.* 1,596 82,082 Home Bancorp, Inc. 562 21,834 Monro, Inc. 2,479 154,541 Home Point Capital, Inc.*(b) 553 3,534 Murphy USA, Inc. 1,935 260,857 HomeStreet, Inc. 1,599 71,987 National Vision Holdings, Inc.* 6,040 300,007 Kearny Financial Corp. 5,649 74,058 ODP Corp. (The)* 3,988 174,435 Luther Burbank Corp. 1,375 16,692 OneWater Marine, Inc., Class A* 764 37,619 Merchants Bancorp 651 27,960 Rent-A-Center, Inc. 3,640 224,988 Meridian Bancorp, Inc. 3,521 77,638 RH* 1,181 757,080 Meta Financial Group, Inc. 2,335 123,778 Sally Beauty Holdings, Inc.* 8,480 184,949 MMA Capital Holdings, Inc.* 360 9,742 Shoe Carnival, Inc. 696 46,987 Mr Cooper Group, Inc.* 5,679 196,437 Signet Jewelers Ltd.* 3,918 237,353 NMI Holdings, Inc., Class A* 6,179 149,470 Sleep Number Corp.* 2,038 227,217 Northfield Bancorp, Inc. 3,520 59,594 Sonic Automotive, Inc., Class A 1,757 84,740 Northwest Bancshares, Inc. 8,801 124,622 Sportsman's Warehouse Holdings, Oconee Federal Financial Corp. 76 1,924 Inc.* 3,209 57,120 OP Bancorp 910 9,437 Tilly's, Inc., Class A* 1,670 22,812 PCSB Financial Corp. 1,058 19,446 Urban Outfitters, Inc.* 5,186 203,084 PDL Community Bancorp* 564 7,896 Winmark Corp. 220 43,080 PennyMac Financial Services, Inc. 3,124 195,594 Zumiez, Inc.* 1,569 68,754 Pioneer Bancorp, Inc.*(b) 870 10,623 7,955,897 Premier Financial Corp. 2,784 84,912 Technology Hardware, Storage & Peripherals - 0.2% Provident Bancorp, Inc. 1,252 21,134 3D Systems Corp.* 9,082 267,101 Provident Financial Holdings, Inc. 447 7,778 Avid Technology, Inc.* 2,371 73,216 Provident Financial Services, Inc. 5,328 134,585 Corsair Gaming, Inc.*(b) 1,719 53,667 Prudential Bancorp, Inc. 525 7,282 Diebold Nixdorf, Inc.* 5,274 71,410 Radian Group, Inc. 14,383 335,843 Eastman Kodak Co.*(b) 1,174 8,359 Riverview Bancorp, Inc. 1,589 10,916 Immersion Corp.* 1,291 11,038 Security National Financial Corp., Intevac, Inc.* 1,765 12,267 Class A* 717 6,245 Quantum Corp.* 3,127 23,484 Southern Missouri Bancorp, Inc. 569 25,150 Super Micro Computer, Inc.* 3,251 112,940 Sterling Bancorp, Inc.* 1,225 5,892 Turtle Beach Corp.* 1,058 35,020 Territorial Bancorp, Inc. 592 15,463 668,502 Timberland Bancorp, Inc. 562 16,388 Textiles, Apparel & Luxury Goods - 0.6% TrustCo Bank Corp. 1,424 55,713 Crocs, Inc.* 5,020 508,225 Walker & Dunlop, Inc. 2,125 215,772 Deckers Outdoor Corp.* 2,106 706,437 Washington Federal, Inc. 5,667 188,938 Fossil Group, Inc.* 3,520 49,703 Waterstone Financial, Inc. 1,637 32,380 G-III Apparel Group Ltd.* 3,304 109,164 Western New England Bancorp, Kontoor Brands, Inc. 3,867 247,565 Inc. 1,685 14,339 Lakeland Industries, Inc.*(b) 574 14,476 WSFS Financial Corp. 3,555 189,162 Movado Group, Inc. 1,177 32,638 3,692,493 Oxford Industries, Inc. 1,230 117,773 Tobacco - 0.1% Rocky Brands, Inc. 523 30,501 Turning Point Brands, Inc. 889 38,023 Steven Madden Ltd. 6,190 256,266 Universal Corp. 1,830 102,553 Superior Group of Cos., Inc.(b) 803 20,501 Vector Group Ltd. 10,487 144,196 Unifi, Inc.* 1,025 28,218 284,772 Vera Bradley, Inc.* 1,538 17,656 Trading Companies & Distributors - 0.9% Wolverine World Wide, Inc. 6,066 221,166 Alta Equipment Group, Inc.* 1,297 19,014 2,360,289 Applied Industrial Technologies, Thrifts & Mortgage Finance - 0.9% Inc. 2,901 284,182 Axos Financial, Inc.* 4,295 203,626 Beacon Roofing Supply, Inc.* 4,098 232,111 Bogota Financial Corp.* 437 4,392 Boise Cascade Co. 2,936 193,747 Bridgewater Bancshares, Inc.* 1,627 28,245 CAI International, Inc. 1,248 53,564 Capitol Federal Financial, Inc. 9,785 126,618 Custom Truck One Source, Inc.*(b) 992 10,525 Columbia Financial, Inc.* 3,535 62,817 DXP Enterprises, Inc.* 1,230 37,995 ESSA Bancorp, Inc. 677 10,730 EVI Industries, Inc.*(b) 372 11,186 Essent Group Ltd. 8,284 396,307 GATX Corp. 2,618 258,292 Federal Agricultural Mortgage GMS, Inc.*(b) 3,128 143,231 Corp., Class C 681 69,094 H&E Equipment Services, Inc. 2,406 89,984 Herc Holdings, Inc.* 1,831 210,602

See accompanying notes to the financial statements.

UltraPro Russell2000 Schedule of Portfolio Investments May 31, 2021

Investments Shares Value ($) Investments Shares Value ($) Lawson Products, Inc.* 330 19,965 McGrath RentCorp 1,811 155,257 SECURITIES LENDING REINVESTMENTS(g) - 1.3% MRC Global, Inc.* 5,899 63,355 NOW, Inc.* 8,230 86,168 INVESTMENT COMPANIES - 1.3% Rush Enterprises, Inc., Class A 3,114 148,849 BlackRock Liquidity FedFund, Institutional Class Rush Enterprises, Inc., Class B 492 21,333 0.03% (Cost $5,495,468) 5,495,468 5,495,468 SiteOne Landscape Supply, Inc.* 3,300 567,732 Systemax, Inc. 931 31,952 Textainer Group Holdings Ltd.* 3,709 124,993 Principal Titan Machinery, Inc.* 1,445 44,333 Investments Amount ($) Value ($) Transcat, Inc.* 522 27,582 Triton International Ltd. 4,540 246,295 SHORT-TERM INVESTMENTS - 3.3% Veritiv Corp.* 1,073 65,904 WESCO International, Inc.* 3,688 393,030 REPURCHASE AGREEMENTS(h) - 3.3% Willis Lease Finance Corp.* 214 9,491 Repurchase Agreements with various 3,550,672 counterparties, rates 0.00% - Water Utilities - 0.2% 0.01%, dated 5/28/2021, due American States Water Co. 2,771 219,934 6/1/2021, total to be received Artesian Resources Corp., Class A 599 24,703 $13,532,200 Cadiz, Inc.*(b) 1,531 21,067 (Cost $13,532,197) 13,532,197 13,532,197 California Water Service Group 3,710 210,876 Consolidated Water Co. Ltd. 1,089 13,406 Global Water Resources, Inc. 959 16,380 Middlesex Water Co. 1,284 110,373 Pure Cycle Corp.* 1,454 20,559 Total Investments - 57.1% SJW Group 1,983 127,804 (Cost $249,262,569) 234,382,557 York Water Co. (The) 978 49,223 Other assets less liabilities - 42.9% 176,137,713 814,325 Net Assets - 100.0% 410,520,270 Wireless Telecommunication Services - 0.1%

Boingo Wireless, Inc.* 3,285 45,924 Gogo, Inc.*(b) 4,143 56,428 Shenandoah Telecommunications Co. 3,619 180,552 Spok Holdings, Inc. 1,327 15,486 298,390 TOTAL COMMON STOCKS (COST $230,232,246) 215,354,355

Number of Investments Rights Value ($)

RIGHTS - 0.0%(e)

Biotechnology - 0.0% Contra Aduro Biotech I, CVR*(d)(f) 899 — Oncternal Therapeutics, Inc., CVR*(d)(f) 23 — Tobira Therapeutics, Inc., CVR*(d)(f) 218 — — Food Products - 0.0%(e) Contraf-Nicotex-Tobacco GmbH*(d)(f) 1,074 537 Pharmaceuticals - 0.0% Omthera Pharmaceuticals, Inc., CVR*(d)(f) 363 — TOTAL RIGHTS (Cost $2,658) 537

See accompanying notes to the financial statements.

UltraPro Russell2000 Schedule of Portfolio Investments May 31, 2021

* Non-income producing security. (a) All or a portion of these securities are segregated in connection with obligations for swaps with a total value of $76,411,386. (b) The security or a portion of this security is on loan at May 31, 2021. The total value of securities on loan at May 31, 2021 was $13,664,514, collateralized in the form of cash with a value of $5,495,468 that was reinvested in the securities shown in the Securities Lending Reinvestment section of the Schedule of Investments and $8,762,171 of collateral in the form of U.S. Government Treasury Securities, interest rates ranging from 0.00% – 6.88%, and maturity dates ranging from June 24, 2021 – November 15, 2050. The total value of collateral is $14,257,639. (c) Security exempt from registration pursuant to Regulation S under the Securities Act of 1933. Regulation S applies to securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States and as such may have restrictions on resale. (d) Security fair valued as of May 31, 2021 in accordance with procedures approved by the Board of Trustees. Total value of all such securities at May 31, 2021 amounted to $537, which represents approximately 0.00% of net assets of the Fund. (e) Represents less than 0.05% of net assets. (f) Illiquid security. (g) The security was purchased with cash collateral held from securities on loan at May 31, 2021. The total value of securities purchased was $5,495,468. (h) The Fund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" in the Notes to Financial Statements to view the details of each individual agreement and counterparty as well as a description of the securities subject to repurchase.

Abbreviations CVR Contingent Value Rights - No defined expiration

Aggregate gross unrealized appreciation $ 180,718,147

Aggregate gross unrealized depreciation (25,550,281)

Net unrealized appreciation $ 155,167,866

Federal income tax cost $ 254,766,821

See accompanying notes to the financial statements.

UltraPro Russell2000 Schedule of Portfolio Investments May 31, 2021

Futures Contracts Purchased UltraPro Russell2000 had the following open long futures contracts as of May 31, 2021: Value and Number of Expiration Trading Unrealized Contracts Date Currency Notional Amount Appreciation Russell 2000 E-Mini Index 353 6/18/2021 USD $ 40,040,790 $ 1,174,119

Swap Agreementsa UltraPro Russell2000 had the following open non-exchange traded total return swap agreements as of May 31, 2021:

Financial Cash Instruments Collateral for Value and for the the Benefit of Unrealized Benefit of (the (the Fund)/ Appreciation/ Fund)/ the the Notional Termination Rate Paid (Depreciation)d Counterparty Counterparty Net Amount ($) Dateb Counterparty (Received)c Underlying Instrument ($) ($) ($) Amounte ($) Bank of 237,223,082 11/8/2021 America NA 0.40% Russell 2000® Index 28,938,417 (28,938,417) — —

BNP Paribas 76,822,786 11/8/2021 SA 0.00% Russell 2000® Index 36,290,640 (36,290,640 ) — —

355,055,233 11/7/2022 Citibank NA 0.35% Russell 2000® Index 2,209,252 — (2,209,252 ) —

Credit Suisse 39,999,672 11/8/2021 International 0.55% Russell 2000® Index 27,790,547 — (27,790,547) —

Goldman Sachs 106,233,175 11/8/2021 International 0.31% Russell 2000® Index (1,159,258) 1,048,115 111,143 —

Morgan Stanley & Co. International 62,605,420 11/8/2021 plc (0.26)% Russell 2000® Index 3,045,007 (3,045,007) — —

Societe 30,483,612 11/22/2021 Generale 0.40% Russell 2000® Index 47,651,362 (47,651,362 ) — —

67,828,589 12/6/2021 UBS AG 0.10% Russell 2000® Index 29,612,044 — (29,612,044) —

976,251,569 174,378,011

Total Unrealized Appreciation 175,537,269

Total Unrealized Depreciation (1,159,258)

Abbreviations

USD U.S. Dollar

See accompanying notes to the financial statements.

UltraPro S&P500® Schedule of Portfolio Investments May 31, 2021

Investments Shares Value ($) Investments Shares Value ($) Constellation Brands, Inc., Class A 6,723 1,611,637 COMMON STOCKS(a) - 58.5% Molson Coors Beverage Co., Class B* 7,443 434,076 Aerospace & Defense - 1.0% Monster Beverage Corp.* 14,619 1,378,133 Boeing Co. (The)* 21,697 5,359,593 PepsiCo, Inc. 54,554 8,070,719 General Dynamics Corp. 9,169 1,741,285 20,554,390 Howmet Aerospace, Inc.* 15,432 547,527 Biotechnology - 1.0% Huntington Ingalls Industries, Inc. 1,592 344,206 AbbVie, Inc. 69,828 7,904,530 L3Harris Technologies, Inc. 8,129 1,772,610 Alexion Pharmaceuticals, Inc.* 8,693 1,534,749 Lockheed Martin Corp. 9,747 3,725,303 Amgen, Inc. 22,839 5,434,312 Northrop Grumman Corp. 6,131 2,243,149 Biogen, Inc.* 6,024 1,611,300 Raytheon Technologies Corp. 60,084 5,330,052 Gilead Sciences, Inc. 49,689 3,284,940 Teledyne Technologies, Inc.* 1,836 770,147 Incyte Corp.* 7,389 619,050 Textron, Inc. 8,973 614,381 Regeneron Pharmaceuticals, Inc.* 4,163 2,091,616 TransDigm Group, Inc.* 2,163 1,403,441 Vertex Pharmaceuticals, Inc.* 10,280 2,144,716 23,851,694 24,625,213 Air Freight & Logistics - 0.4% Building Products - 0.3% CH Robinson Worldwide, Inc. 5,291 513,333 A O Smith Corp. 5,356 380,651 Expeditors International of Allegion plc 3,588 504,042 Washington, Inc. 6,697 841,746 Carrier Global Corp. 32,311 1,484,044 FedEx Corp. 9,643 3,035,713 Fortune Brands Home & Security, United Parcel Service, Inc., Class B 28,462 6,107,945 Inc. 5,483 565,627 10,498,737 Johnson Controls International plc 28,482 1,895,192 Airlines - 0.2% Masco Corp. 10,168 613,232 Alaska Air Group, Inc.* 4,912 339,910 Trane Technologies plc 9,428 1,757,379 American Airlines Group, Inc.*(b) 25,295 613,151 7,200,167 Delta Air Lines, Inc.* 25,234 1,203,157 Capital Markets - 1.8% Southwest Airlines Co.* 23,357 1,435,521 Ameriprise Financial, Inc. 4,617 1,199,681 United Airlines Holdings, Inc.* 12,596 734,977 Bank of New York Mellon Corp. 4,326,716 (The) 31,903 1,661,508 Auto Components - 0.1% BlackRock, Inc. 5,613 4,922,826 Aptiv plc* 10,678 1,606,185 Cboe Global Markets, Inc. 4,239 471,801 BorgWarner, Inc. 9,452 484,793 Charles Schwab Corp. (The) 59,177 4,370,221 2,090,978 CME Group, Inc. 14,196 3,105,517 Automobiles - 1.0% Franklin Resources, Inc. 10,792 369,194 Ford Motor Co.* 154,527 2,245,277 Goldman Sachs Group, Inc. (The) 13,605 5,061,332 General Motors Co.* 50,140 2,973,804 Intercontinental Exchange, Inc. 22,211 2,507,178 Tesla, Inc.* 30,364 18,984,180 Invesco Ltd. 14,885 424,669 24,203,261 MarketAxess Holdings, Inc. 1,502 700,743 Banks - 2.6% Moody's Corp. 6,363 2,133,832 Bank of America Corp. 225,570 9,561,912 Morgan Stanley 59,346 5,397,519 Citigroup, Inc. 68,233 5,370,619 MSCI, Inc. 3,265 1,528,444 Citizens Financial Group, Inc. 16,812 838,919 Nasdaq, Inc. 4,562 763,953 Comerica, Inc. 5,503 431,931 Northern Trust Corp. 8,238 998,363 Fifth Third Bancorp 28,117 1,184,850 Raymond James Financial, Inc. 4,846 642,531 First Republic Bank 6,959 1,332,231 S&P Global, Inc.(b) 9,518 3,611,796 Huntington Bancshares, Inc.(b) 40,225 637,969 State Street Corp. 13,911 1,209,979 JPMorgan Chase & Co. 120,665 19,818,020 T. Rowe Price Group, Inc. 9,014 1,724,829 KeyCorp 38,310 882,662 42,805,916 M&T Bank Corp. 5,084 816,948 Chemicals - 1.1% People's United Financial, Inc. 16,826 318,180 Air Products and Chemicals, Inc. 8,750 2,622,025 PNC Financial Services Group, Inc. Albemarle Corp. 4,612 770,573 (The) 16,767 3,264,200 Celanese Corp. 4,515 747,007 Regions Financial Corp. 37,988 889,299 CF Industries Holdings, Inc. 8,462 449,925 SVB Financial Group* 2,134 1,243,887 Corteva, Inc. 29,422 1,338,701 Truist Financial Corp. 53,272 3,291,144 Dow, Inc. 29,468 2,016,201 US Bancorp 54,053 3,285,341 DuPont de Nemours, Inc. 21,292 1,801,090 Wells Fargo & Co. 163,474 7,637,505 Eastman Chemical Co. 5,372 673,649 Zions Bancorp NA 6,493 375,815 Ecolab, Inc. 9,834 2,115,097 61,181,432 FMC Corp. 5,115 596,869 Beverages - 0.9% International Flavors & Fragrances, Brown-Forman Corp., Class B 7,223 580,440 Inc. 9,835 1,393,324 Coca-Cola Co. (The) 153,362 8,479,385 Linde plc 20,674 6,214,604

See accompanying notes to the financial statements.

UltraPro S&P500® Schedule of Portfolio Investments May 31, 2021

Investments Shares Value ($) Investments Shares Value ($) LyondellBasell Industries NV, Exelon Corp. 38,607 1,741,948 Class A 10,174 1,145,796 FirstEnergy Corp. 21,480 814,307 Mosaic Co. (The) 13,641 492,986 NextEra Energy, Inc. 77,515 5,675,648 PPG Industries, Inc. 9,370 1,683,976 NRG Energy, Inc. 9,676 311,083 Sherwin-Williams Co. (The) 9,566 2,712,248 Pinnacle West Capital Corp. 4,456 376,889 26,774,071 PPL Corp. 30,408 885,177 Commercial Services & Supplies - 0.2% Southern Co. (The) 41,781 2,670,642 Cintas Corp. 3,489 1,233,501 Xcel Energy, Inc. 21,260 1,506,909 Copart, Inc.* 8,223 1,060,849 22,611,741 Republic Services, Inc. 8,323 908,705 Electrical Equipment - 0.3% Rollins, Inc. 8,757 298,526 AMETEK, Inc. 9,117 1,231,707 Waste Management, Inc. 15,394 2,165,628 Eaton Corp. plc 15,742 2,286,525 5,667,209 Emerson Electric Co. 23,727 2,270,437 Communications Equipment - 0.5% Generac Holdings, Inc.* 2,486 817,198 Arista Networks, Inc.* 2,173 737,473 Rockwell Automation, Inc. 4,593 1,211,266 Cisco Systems, Inc. 166,941 8,831,179 7,817,133 F5 Networks, Inc.* 2,438 452,078 Electronic Equipment, Instruments & Components - 0.4% Juniper Networks, Inc. 12,977 341,685 Amphenol Corp., Class A 23,692 1,593,524 Motorola Solutions, Inc. 6,685 1,372,497 CDW Corp. 5,575 922,216 11,734,912 Corning, Inc. 30,394 1,326,090 Construction & Engineering - 0.0%(c) IPG Photonics Corp.* 1,418 296,731 Quanta Services, Inc. 5,471 521,660 Keysight Technologies, Inc.* 7,358 1,047,632 TE Connectivity Ltd. 13,084 1,775,237 Construction Materials - 0.1% Trimble, Inc.* 9,927 772,221 Martin Marietta Materials, Inc. 2,463 895,670 Zebra Technologies Corp., Class Vulcan Materials Co. 5,241 960,780 A* 2,114 1,050,764 1,856,450 8,784,415 Consumer Finance - 0.4% Energy Equipment & Services - 0.1% American Express Co. 25,800 4,131,354 Baker Hughes Co. 28,825 703,330 Capital One Financial Corp. 18,164 2,920,408 Halliburton Co. 35,139 788,871 Discover Financial Services 12,127 1,422,012 NOV, Inc.* 15,351 247,458 Synchrony Financial 21,476 1,018,177 Schlumberger NV 55,309 1,732,831 9,491,951 3,472,490 Containers & Packaging - 0.2% Entertainment - 1.2% Amcor plc(b) 61,765 728,827 Activision Blizzard, Inc. 30,636 2,979,351 Avery Dennison Corp. 3,283 724,000 Electronic Arts, Inc. 11,374 1,625,686 Ball Corp. 12,967 1,065,369 Live Nation Entertainment, Inc.* 5,675 511,374 International Paper Co. 15,549 981,142 Netflix, Inc.* 17,513 8,805,711 Packaging Corp. of America 3,750 557,438 Take-Two Interactive Software, Sealed Air Corp. 6,126 348,324 Inc.* 4,554 845,040 WestRock Co. 10,420 607,694 Walt Disney Co. (The)* 71,781 12,823,676 5,012,794 27,590,838 Distributors - 0.1% Equity Real Estate Investment Trusts (REITs) - 1.5% Genuine Parts Co. 5,710 748,695 Alexandria Real Estate Equities, LKQ Corp.* 11,039 562,548 Inc. 5,027 896,113 Pool Corp. 1,591 694,551 American Tower Corp. 17,944 4,583,974 2,005,794 AvalonBay Communities, Inc. 5,517 1,141,688 Diversified Financial Services - 0.9% Boston Properties, Inc. 5,607 659,159 Berkshire Hathaway, Inc., Class B* 75,396 21,822,618 Crown Castle International Corp. 17,055 3,231,923 Digital Realty Trust, Inc. 11,116 1,684,741 Diversified Telecommunication Services - 0.8% Duke Realty Corp. 14,780 686,679 AT&T, Inc. 282,010 8,299,554 Equinix, Inc. 3,531 2,601,358 Lumen Technologies, Inc. 39,035 540,245 Equity Residential 13,559 1,050,145 Verizon Communications, Inc. 163,663 9,245,323 Essex Property Trust, Inc. 2,570 758,895 18,085,122 Extra Space Storage, Inc. 5,221 782,158 Electric Utilities - 0.9% Federal Realty Investment Trust 2,762 315,807 Alliant Energy Corp. 9,881 564,699 Healthpeak Properties, Inc. 21,301 711,027 American Electric Power Co., Inc. 19,637 1,688,782 Host Hotels & Resorts, Inc.* 27,892 478,906 Duke Energy Corp. 30,395 3,046,187 Iron Mountain, Inc.(b) 11,405 496,574 Edison International 14,990 837,491 Kimco Realty Corp. 17,100 364,401 Entergy Corp. 7,928 834,501 Mid-America Apartment Evergy, Inc. 8,974 556,298 Communities, Inc. 4,523 726,846 Eversource Energy 13,563 1,101,180 Prologis, Inc. 29,242 3,445,877

See accompanying notes to the financial statements.

UltraPro S&P500® Schedule of Portfolio Investments May 31, 2021

Investments Shares Value ($) Investments Shares Value ($) Public Storage 6,013 1,698,552 Anthem, Inc. 9,684 3,856,362 Realty Income Corp. 14,765 1,009,926 Cardinal Health, Inc. 11,612 651,085 Regency Centers Corp. 6,245 403,427 Centene Corp.* 22,998 1,692,653 SBA Communications Corp. 4,323 1,288,773 Cigna Corp. 13,913 3,601,380 Simon Property Group, Inc. 12,990 1,669,085 CVS Health Corp. 51,855 4,482,346 UDR, Inc. 11,737 559,033 DaVita, Inc.* 2,855 342,800 Ventas, Inc. 14,815 821,492 HCA Healthcare, Inc. 10,484 2,251,858 Vornado Realty Trust 6,205 293,373 Henry Schein, Inc.* 5,633 428,333 Welltower, Inc. 16,504 1,234,004 Humana, Inc. 5,096 2,230,519 Weyerhaeuser Co. 29,569 1,122,439 Laboratory Corp. of America 34,716,375 Holdings* 3,859 1,059,218 Food & Staples Retailing - 0.8% McKesson Corp. 6,287 1,209,556 Costco Wholesale Corp. 17,504 6,621,238 Quest Diagnostics, Inc. 5,277 694,823 Kroger Co. (The) 30,106 1,113,320 UnitedHealth Group, Inc. 37,381 15,397,982 Sysco Corp. 20,183 1,634,823 Universal Health Services, Inc., Walgreens Boots Alliance, Inc. 28,358 1,493,332 Class B 3,078 491,341 Walmart, Inc. 54,824 7,786,653 39,058,961 18,649,366 Health Care Technology - 0.0%(c) Food Products - 0.6% Cerner Corp. 12,112 947,764 Archer-Daniels-Midland Co. 22,091 1,469,714 Campbell Soup Co. 8,026 390,625 Hotels, Restaurants & Leisure - 1.2% Conagra Brands, Inc. 19,320 736,092 Booking Holdings, Inc.* 1,620 3,825,711 General Mills, Inc. 24,178 1,519,829 Caesars Entertainment, Inc.* 8,239 885,281 Hershey Co. (The) 5,795 1,002,825 Carnival Corp.* 31,548 932,559 Hormel Foods Corp.(b) 11,107 539,134 Chipotle Mexican Grill, Inc.* 1,113 1,527,014 J M Smucker Co. (The) 4,333 577,545 Darden Restaurants, Inc. 5,154 738,207 Kellogg Co. 10,065 659,157 Domino's Pizza, Inc. 1,534 654,819 Kraft Heinz Co. (The) 25,635 1,117,430 Expedia Group, Inc.* 5,470 967,916 Lamb Weston Holdings, Inc. 5,787 477,369 Hilton Worldwide Holdings, Inc.* 10,977 1,375,089 McCormick & Co., Inc. (Non- Las Vegas Sands Corp.* 12,988 750,057 Voting) 9,844 876,707 Marriott International, Inc., Class Mondelez International, Inc., Class A* 10,519 1,510,318 A 55,839 3,547,452 McDonald's Corp. 29,486 6,896,480 Tyson Foods, Inc., Class A 11,654 926,493 MGM Resorts International 16,241 696,252 13,840,372 Norwegian Cruise Line Holdings Gas Utilities - 0.0%(c) Ltd.*(b) 14,363 458,180 Atmos Energy Corp. 5,068 502,594 Penn National Gaming, Inc.* 5,879 481,902 Royal Caribbean Cruises Ltd.* 8,657 807,438 Health Care Equipment & Supplies - 2.1% Starbucks Corp. 46,554 5,301,569 Abbott Laboratories 70,039 8,170,049 Wynn Resorts Ltd.* 4,160 548,579 ABIOMED, Inc.* 1,789 509,114 Yum! Brands, Inc. 11,865 1,423,444 Align Technology, Inc.* 2,848 1,680,747 29,780,815 Baxter International, Inc. 19,973 1,640,183 Household Durables - 0.3% Becton Dickinson and Co. 11,490 2,779,316 DR Horton, Inc. 13,087 1,247,060 Boston Scientific Corp.* 56,039 2,384,459 Garmin Ltd. 5,909 840,496 Cooper Cos., Inc. (The) 1,944 764,867 Leggett & Platt, Inc. 5,259 289,403 Danaher Corp. 25,065 6,420,149 Lennar Corp., Class A 10,854 1,074,655 DENTSPLY SIRONA, Inc. 8,662 579,661 Mohawk Industries, Inc.* 2,333 491,516 Dexcom, Inc.* 3,803 1,404,790 Newell Brands, Inc. 14,943 428,715 Edwards Lifesciences Corp.* 24,695 2,368,251 NVR, Inc.* 137 669,551 Hologic, Inc.* 10,189 642,518 PulteGroup, Inc. 10,517 607,777 IDEXX Laboratories, Inc.* 3,378 1,885,296 Whirlpool Corp. 2,482 588,457 Intuitive Surgical, Inc.* 4,655 3,920,348 6,237,630 Medtronic plc 53,307 6,748,133 Household Products - 0.8% ResMed, Inc. 5,754 1,184,461 Church & Dwight Co., Inc. 9,691 830,809 STERIS plc 3,375 644,153 Clorox Co. (The) 4,974 879,055 Stryker Corp. 12,942 3,303,704 Colgate-Palmolive Co. 33,555 2,811,238 Teleflex, Inc. 1,846 742,443 Kimberly-Clark Corp. 13,366 1,746,001 West Pharmaceutical Services, Inc. 2,930 1,018,204 Procter & Gamble Co. (The) 97,373 13,130,749 Zimmer Biomet Holdings, Inc. 8,219 1,383,504 19,397,852 50,174,350 Independent Power and Renewable Electricity Producers - 0.0%(c) Health Care Providers & Services - 1.6% AES Corp. (The) 26,419 671,307 AmerisourceBergen Corp. 5,828 668,705

See accompanying notes to the financial statements.

UltraPro S&P500® Schedule of Portfolio Investments May 31, 2021

Investments Shares Value ($) Investments Shares Value ($) Industrial Conglomerates - 0.7% VeriSign, Inc.* 3,935 865,385 3M Co. 22,899 4,649,413 Visa, Inc., Class A 67,069 15,244,784 General Electric Co. 346,709 4,874,729 Western Union Co. (The) 16,249 397,613 Honeywell International, Inc. 27,502 6,350,487 71,973,436 Roper Technologies, Inc. 4,150 1,867,541 Leisure Products - 0.0%(c) 17,742,170 Hasbro, Inc. 5,051 484,744 Insurance - 1.2% Aflac, Inc. 25,323 1,435,308 Life Sciences Tools & Services - 0.7% Allstate Corp. (The) 11,976 1,636,041 Agilent Technologies, Inc. 12,049 1,664,329 American International Group, Inc. 34,196 1,806,917 Bio-Rad Laboratories, Inc., Class Aon plc, Class A(b) 8,936 2,264,114 A* 852 513,219 Arthur J Gallagher & Co. 8,102 1,187,834 Charles River Laboratories Assurant, Inc. 2,290 369,033 International, Inc.* 1,968 665,164 Chubb Ltd. 17,803 3,026,332 Illumina, Inc.* 5,769 2,340,137 Cincinnati Financial Corp. 5,928 721,497 IQVIA Holdings, Inc.* 7,564 1,816,570 Everest Re Group Ltd. 1,581 410,997 Mettler-Toledo International, Inc.* 926 1,204,680 Globe Life, Inc. 3,757 396,063 PerkinElmer, Inc. 4,431 642,805 Hartford Financial Services Group, Thermo Fisher Scientific, Inc. 15,572 7,311,054 Inc. (The) 14,137 923,853 Waters Corp.* 2,459 792,413 Lincoln National Corp. 7,135 497,952 16,950,371 Loews Corp. 8,976 524,019 Machinery - 1.0% Marsh & McLennan Cos., Inc. 20,095 2,780,143 Caterpillar, Inc. 21,563 5,198,408 MetLife, Inc. 29,726 1,942,891 Cummins, Inc. 5,853 1,505,860 Principal Financial Group, Inc. 10,027 655,666 Deere & Co. 12,394 4,475,473 Progressive Corp. (The) 23,162 2,294,891 Dover Corp. 5,680 854,840 Prudential Financial, Inc. 15,698 1,679,215 Fortive Corp. 13,368 969,447 Travelers Cos., Inc. (The) 9,973 1,592,688 IDEX Corp. 3,001 668,203 Unum Group 8,056 249,494 Illinois Tool Works, Inc. 11,395 2,640,905 W R Berkley Corp. 5,541 432,143 Ingersoll Rand, Inc.* 14,738 731,594 Willis Towers Watson plc 5,100 1,332,936 Otis Worldwide Corp. 16,120 1,262,679 28,160,027 PACCAR, Inc. 13,719 1,256,112 Interactive Media & Services - 3.7% Parker-Hannifin Corp. 5,104 1,572,798 Alphabet, Inc., Class A* 11,892 28,027,660 Pentair plc(b) 6,567 452,926 Alphabet, Inc., Class C* 11,398 27,486,961 Snap-on, Inc. 2,143 545,651 Facebook, Inc., Class A* 95,118 31,268,140 Stanley Black & Decker, Inc. 6,362 1,379,282 Twitter, Inc.* 31,556 1,830,248 Westinghouse Air Brake 88,613,009 Technologies Corp. 7,021 581,058 Internet & Direct Marketing Retail - 2.4% Xylem, Inc. 7,132 842,432 Amazon.com, Inc.* 16,926 54,553,683 24,937,668 eBay, Inc. 25,561 1,556,154 Media - 0.8% Etsy, Inc.* 4,984 821,014 Charter Communications, Inc., 56,930,851 Class A*(b) 5,592 3,883,812 IT Services - 3.0% Comcast Corp., Class A 180,759 10,364,721 Accenture plc, Class A 25,080 7,076,573 Discovery, Inc., Class A*(b) 6,425 206,307 Akamai Technologies, Inc.* 6,454 737,111 Discovery, Inc., Class C* 11,455 344,223 Automatic Data Processing, Inc. 16,922 3,317,050 DISH Network Corp., Class A* 9,785 425,843 Broadridge Financial Solutions, Fox Corp., Class A 13,221 493,804 Inc. 4,579 730,259 Fox Corp., Class B 6,078 220,510 Cognizant Technology Solutions Interpublic Group of Cos., Inc. Corp., Class A 20,982 1,501,472 (The) 15,449 520,477 DXC Technology Co.* 10,067 381,741 News Corp., Class A 15,465 417,400 Fidelity National Information News Corp., Class B 4,815 123,697 Services, Inc. 24,561 3,659,098 Omnicom Group, Inc. 8,503 699,287 Fiserv, Inc.* 23,551 2,713,075 ViacomCBS, Inc. 23,238 985,756 FleetCor Technologies, Inc.* 3,299 905,378 18,685,837 Gartner, Inc.* 3,508 813,295 Metals & Mining - 0.3% Global Payments, Inc. 11,675 2,261,564 Freeport-McMoRan, Inc. 57,679 2,464,047 International Business Machines Newmont Corp. 31,647 2,325,422 Corp. 35,335 5,079,053 Nucor Corp. 11,784 1,208,331 Jack Henry & Associates, Inc. 3,008 463,683 5,997,800 Mastercard, Inc., Class A 34,668 12,500,587 Multiline Retail - 0.3% Paychex, Inc. 12,692 1,283,669 Dollar General Corp. 9,688 1,966,277 PayPal Holdings, Inc.* 46,312 12,042,046 Dollar Tree, Inc.* 9,300 906,750

See accompanying notes to the financial statements.

UltraPro S&P500® Schedule of Portfolio Investments May 31, 2021

Investments Shares Value ($) Investments Shares Value ($) Target Corp. 19,811 4,495,512 Road & Rail - 0.6% 7,368,539 CSX Corp. 30,149 3,018,518 Multi-Utilities - 0.5% JB Hunt Transport Services, Inc. 3,302 566,425 Ameren Corp. 10,018 843,516 Kansas City Southern 3,592 1,069,267 CenterPoint Energy, Inc. 21,811 551,818 Norfolk Southern Corp. 9,961 2,798,045 CMS Energy Corp. 11,426 716,867 Old Dominion Freight Line, Inc. 3,792 1,006,586 Consolidated Edison, Inc. 13,540 1,045,830 Union Pacific Corp. 26,487 5,952,423 Dominion Energy, Inc. 31,858 2,425,668 14,411,264 DTE Energy Co. 7,662 1,057,279 Semiconductors & Semiconductor Equipment - 3.2% NiSource, Inc. 15,495 395,123 Advanced Micro Devices, Inc.* 47,918 3,837,273 Public Service Enterprise Group, Analog Devices, Inc. 14,587 2,401,020 Inc. 19,973 1,240,723 Applied Materials, Inc. 36,287 5,012,323 Sempra Energy 12,452 1,687,121 Broadcom, Inc. 16,142 7,624,351 WEC Energy Group, Inc. 12,473 1,171,339 Enphase Energy, Inc.* 5,101 729,698 11,135,284 Intel Corp. 160,662 9,177,013 Oil, Gas & Consumable Fuels - 1.5% KLA Corp. 6,093 1,930,811 APA Corp. 14,942 310,794 Lam Research Corp. 5,651 3,672,302 Cabot Oil & Gas Corp. 15,794 259,022 Maxim Integrated Products, Inc.* 10,599 1,081,204 Chevron Corp. 76,359 7,925,301 Microchip Technology, Inc. 10,647 1,671,047 ConocoPhillips 53,580 2,986,549 Micron Technology, Inc.* 44,235 3,721,933 Devon Energy Corp. 23,422 622,088 Monolithic Power Systems, Inc. 1,696 581,932 Diamondback Energy, Inc. 7,149 572,420 NVIDIA Corp. 24,517 15,930,656 EOG Resources, Inc. 23,073 1,853,685 NXP Semiconductors NV 10,954 2,315,895 Exxon Mobil Corp. 167,404 9,771,371 Qorvo, Inc.* 4,479 818,403 Hess Corp. 10,804 905,591 QUALCOMM, Inc. 44,911 6,042,326 HollyFrontier Corp. 5,909 191,865 Skyworks Solutions, Inc. 6,521 1,108,570 Kinder Morgan, Inc. 76,984 1,411,887 Teradyne, Inc. 6,592 872,451 Marathon Oil Corp. 31,215 378,014 Texas Instruments, Inc. 36,389 6,907,360 Marathon Petroleum Corp. 25,753 1,591,535 Xilinx, Inc.* 9,718 1,234,186 Occidental Petroleum Corp. 33,153 860,652 76,670,754 ONEOK, Inc. 17,596 928,013 Software - 4.9% Phillips 66 17,272 1,454,648 Adobe, Inc.* 18,954 9,563,809 Pioneer Natural Resources Co. 8,136 1,238,218 ANSYS, Inc.* 3,430 1,159,134 Valero Energy Corp. 16,156 1,298,942 Autodesk, Inc.* 8,695 2,485,553 Williams Cos., Inc. (The) 47,997 1,264,241 Cadence Design Systems, Inc.* 11,031 1,400,827 35,824,836 Citrix Systems, Inc. 4,862 558,936 Personal Products - 0.1% Fortinet, Inc.* 5,356 1,170,500 Estee Lauder Cos., Inc. (The), Class Intuit, Inc. 10,828 4,754,466 A 9,084 2,784,428 Microsoft Corp. 298,217 74,458,821 NortonLifeLock, Inc. 23,010 636,457 Pharmaceuticals - 2.1% Oracle Corp. 73,342 5,774,949 Bristol-Myers Squibb Co. 88,595 5,822,463 Paycom Software, Inc.* 1,941 639,754 Catalent, Inc.* 6,731 705,611 PTC, Inc.* 4,157 557,620 Eli Lilly & Co. 31,456 6,283,022 salesforce.com, Inc.* 36,290 8,640,649 Johnson & Johnson 103,945 17,592,691 ServiceNow, Inc.* 7,754 3,674,465 Merck & Co., Inc. 100,056 7,593,250 Synopsys, Inc.* 6,025 1,532,398 Perrigo Co. plc 5,264 242,881 Tyler Technologies, Inc.* 1,605 647,072 Pfizer, Inc. 220,555 8,542,095 117,655,410 Viatris, Inc. 47,731 727,420 Specialty Retail - 1.3% Zoetis, Inc. 18,789 3,319,641 Advance Auto Parts, Inc. 2,591 491,590 50,829,074 AutoZone, Inc.* 877 1,233,588 Professional Services - 0.2% Best Buy Co., Inc. 9,113 1,059,295 Equifax, Inc. 4,816 1,131,953 CarMax, Inc.* 6,427 740,326 IHS Markit Ltd. 14,741 1,552,375 Gap, Inc. (The) 8,135 272,116 Jacobs Engineering Group, Inc. 5,144 730,859 Home Depot, Inc. (The) 42,572 13,576,637 Leidos Holdings, Inc. 5,274 541,903 L Brands, Inc.* 9,242 645,739 Nielsen Holdings plc 14,148 384,967 Lowe's Cos., Inc. 28,906 5,631,756 Robert Half International, Inc. 4,473 397,158 O'Reilly Automotive, Inc.* 2,776 1,485,493 Verisk Analytics, Inc. 6,437 1,112,507 Ross Stores, Inc. 14,077 1,779,192 5,851,722 TJX Cos., Inc. (The) 47,476 3,206,529 Real Estate Management & Development - 0.1% Tractor Supply Co. 4,599 835,638 CBRE Group, Inc., Class A* 13,270 1,164,841 Ulta Beauty, Inc.* 2,228 769,462 31,727,361

See accompanying notes to the financial statements.

UltraPro S&P500® Schedule of Portfolio Investments May 31, 2021

Investments Shares Value ($) Principal Technology Hardware, Storage & Peripherals - 3.4% Investments Amount ($) Value ($) Apple, Inc. 624,018 77,758,883 Hewlett Packard Enterprise Co. 51,451 821,158 HP, Inc. 49,529 1,447,732 Total Investments - 71.5% NetApp, Inc. 8,802 681,011 (Cost $1,635,152,334) 1,713,894,051 Seagate Technology Holdings plc 7,945 760,734 Other assets less liabilities - 28.5% 682,008,799 Western Digital Corp.* 12,104 910,584 Net Assets - 100.0% 2,395,902,850 82,380,102

Textiles, Apparel & Luxury Goods - 0.4% Hanesbrands, Inc. 13,793 269,515 NIKE, Inc., Class B 50,278 6,860,936 PVH Corp.* 2,811 322,759 Ralph Lauren Corp.* 1,907 236,621 Tapestry, Inc.* 10,986 493,161 Under Armour, Inc., Class A* 7,459 168,424 Under Armour, Inc., Class C*(b) 7,706 146,876 VF Corp. 12,701 1,012,524 9,510,816 Tobacco - 0.4% Altria Group, Inc. 73,498 3,617,571 Philip Morris International, Inc. 61,581 5,938,256 9,555,827 Trading Companies & Distributors - 0.1% Fastenal Co. 22,711 1,204,592 United Rentals, Inc.* 2,855 953,456 WW Grainger, Inc. 1,740 804,158 2,962,206 Water Utilities - 0.1% American Water Works Co., Inc. 7,175 1,112,268

Wireless Telecommunication Services - 0.1% T-Mobile US, Inc.* 23,101 3,267,636

TOTAL COMMON STOCKS (COST $1,324,511,652) 1,403,253,369

SECURITIES LENDING REINVESTMENTS(d) - 0.0%(c)

INVESTMENT COMPANIES - 0.0%(c) BlackRock Liquidity FedFund, Institutional Class 0.03% (Cost $79,146) 79,146 79,146

Principal Investments Amount ($) Value ($)

SHORT-TERM INVESTMENTS - 13.0%

REPURCHASE AGREEMENTS(e) - 13.0% Repurchase Agreements with various counterparties, rates 0.00% - 0.01%, dated 5/28/2021, due 6/1/2021, total to be received $310,561,584 (Cost $310,561,536) 310,561,536 310,561,536

See accompanying notes to the financial statements.

UltraPro S&P500® Schedule of Portfolio Investments May 31, 2021

* Non-income producing security. (a) All or a portion of these securities are segregated in connection with obligations for swaps with a total value of $636,807,166. (b) The security or a portion of this security is on loan at May 31, 2021. The total value of securities on loan at May 31, 2021 was $3,586,378, collateralized in the form of cash with a value of $79,146 that was reinvested in the securities shown in the Securities Lending Reinvestment section of the Schedule of Investments and $3,614,061 of collateral in the form of U.S. Government Treasury Securities, interest rates ranging from 0.00% – 6.88%, and maturity dates ranging from June 24, 2021 – November 15, 2050. The total value of collateral is $3,693,207. (c) Represents less than 0.05% of net assets. (d) The security was purchased with cash collateral held from securities on loan at May 31, 2021. The total value of securities purchased was $79,146. (e) The Fund invests in Repurchase Agreements jointly with other funds in the Trust. See "Repurchase Agreements" in the Notes to Financial Statements to view the details of each individual agreement and counterparty as well as a description of the securities subject to repurchase.

Aggregate gross unrealized appreciation $ 760,235,027

Aggregate gross unrealized depreciation (103,882,009)

Net unrealized appreciation $ 656,353,018

Federal income tax cost $ 1,747,139,541

See accompanying notes to the financial statements.

UltraPro S&P500® Schedule of Portfolio Investments May 31, 2021

Futures Contracts Purchased UltraPro S&P500® had the following open long futures contracts as of May 31, 2021: Value and Number of Expiration Trading Unrealized Contracts Date Currency Notional Amount Appreciation S&P 500 E-Mini Index 672 6/18/2021 USD $ 141,200,640 $ 6,623,477

Swap Agreementsa UltraPro S&P500® had the following open non-exchange traded total return swap agreements as of May 31, 2021:

Financial Cash Instruments Collateral for Value and for the the Benefit of Unrealized Benefit of (the (the Fund)/ Appreciation/ Fund)/ the the Notional Termination Rate Paid (Depreciation)d Counterparty Counterparty Net Amount ($) Dateb Counterparty (Received)c Underlying Instrument ($) ($) ($) Amounte ($) Bank of 1,474,225,825 11/8/2021 America NA 0.50% S&P 500® 185,191,183 (185,191,183) — —

BNP Paribas 179,654,233 11/8/2021 SA 0.65% S&P 500® (76,122,097) 62,642,529 13,479,568 —

815,757,096 12/6/2021 Citibank NA 0.55% S&P 500® 148,740,821 — (148,030,000) 710,821

Credit Suisse 183,362,258 11/8/2021 International 0.70% S&P 500® 152,859,960 — (152,311,000) 548,960

Goldman Sachs 567,735,627 11/8/2021 International 0.61% S&P 500® 56,198,862 (56,198,862) — —

J.P. Morgan 379,631,133 11/8/2021 Securities 0.46% S&P 500® 20,505,870 — (20,180,000 ) 325,870

Morgan Stanley & Co. International 580,284,895 11/8/2021 plc 0.11% S&P 500® 18,534,861 (18,534,861) — —

Societe 1,176,923,778 11/7/2022 Generale 0.45% S&P 500® 72,567,857 (72,567,857) — —

286,198,992 11/8/2021 UBS AG 0.60% S&P 500® 104,497,714 — (104,253,000) 244,714

5,643,773,837 682,975,031

Total Unrealized Appreciation 759,097,128

Total Unrealized Depreciation (76,122,097 )

Abbreviations

USD U.S Dollar

See accompanying notes to the financial statements.