# EDGAR Filing Document

**Accession Number:** 0001516523
**File Stem:** 0001145549-23-010457
**Filing Date:** 2023-2
**Character Count:** 59074
**Document Hash:** 3ce8ee219bbf31e74fe2528a9a46f80c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-23-010457.hdr.sgml**: 20230227

**ACCESSION NUMBER**: 0001145549-23-010457

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221230

**FILED AS OF DATE**: 20230227

**DATE AS OF CHANGE**: 20230227

**PERIOD START**: 20230930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Advisers Investment Trust
- **CENTRAL INDEX KEY:** 0001516523
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22538
- **FILM NUMBER:** 23671844

**BUSINESS ADDRESS:**
- **STREET 1:** 50 S. LASALLE STREET
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60603
- **BUSINESS PHONE:** (855) 351-4583

**MAIL ADDRESS:**
- **STREET 1:** 50 S. LASALLE STREET
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60603

## Series and Classes Contracts Data

### River Canyon Total Return Bond Fund (Series ID: S000048359)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000152732 | Institutional Shares | RCTIX           |

## Nport-Ex

------

#### ADVISERS INVESTMENT TRUST

#### RIVER CANYON TOTAL RETURN BOND FUND SCHEDULE OF INVESTMENTS

#### December 31, 2022 (Unaudited)

------

---

| | | | |
|:---|:---|:---|:---|
|  | **Percentage<br> of Net<br> Assets** | **Principal Amount** | **Value** |
| ASSET-BACKED SECURITIES<br>| 36.8% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ACC Auto Trust Series 2022-A<sup>(a)</sup><br> 4.58%, 07/15/26 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$7524090 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$7394394 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Business Jet Securities LLC Series 2021-1A<sup>(a)</sup><br> 5.07%, 04/15/36 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1972895 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1731294 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Clsec Holdings 22t LLC Series 2021-1<sup>(a)</sup><br> 6.17%, 05/11/37 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14383363 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11614554 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CP EF Asset Securitization I LLC Series 2022-1A<sup>(a)</sup><br> 5.96%, 04/15/30 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4047300 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3981243 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Goldman Home Improvement Issuer Trust Series 2022-GRN1<sup>(a)(b)(c)(d)</sup><br> 0.00%, 06/25/52 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6397500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Horizon Aircraft Finance I Ltd. Series 2018-1<sup>(a)</sup><br> 4.46%, 12/15/38 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4583432 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3753829 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ICG U.S. CLO Ltd. Series 2020-1A<br> (Floating, ICE LIBOR USD 3M + 3.60%, 3.60% Floor)<sup>(a)(e)</sup><br> 7.84%, 01/20/35 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2776039 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MAPS Ltd. Series 2019-1A<sup>(a)</sup><br> 4.46%, 03/15/44 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1328122 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1165376 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mercury Financial Credit Card Master Trust Series 2022-3A<sup>(a)</sup><br> 13.44%, 06/21/27 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3550000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3558794 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MF1 LLC Series 2022-FL9<br> (Floating, CME Term SOFR 1M + 2.15%, 2.15% Floor)<sup>(a)(e)</sup><br> 6.47%, 06/19/37 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9853490 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mission Lane Credit Card Master Trust Series 2022-A<sup>(a)</sup><br> 6.92%, 09/15/27 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2929949 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NRZ Excess Spread-Collateralized Notes Series 2021-GTN1<sup>(a)</sup><br> 3.47%, 11/25/26 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11433073 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10073221 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Oasis Securitization Funding LLC Series 2021-1A<sup>(a)</sup><br> 2.58%, 02/15/33 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;337351 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;332421 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Oasis Securitization Funding LLC Series 2021-2A<sup>(a)</sup><br> 2.14%, 10/15/33 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5715195 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5573445 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PAGAYA AI Debt Trust Series 2022-2<sup>(a)</sup><br> 4.97%, 01/15/30 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7945613 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7757087 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PMT Issuer Trust - FMSR Series 2022-FT1<br> (Floating, U.S. 30-Day Average SOFR + 4.19%, 4.19% Floor)<sup>(a)(e)</sup><br> 8.13%, 06/25/27 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7699485 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PNMAC GMSR ISSUER TRUST Series 2022-GT1<br> (Floating, U.S. 30-Day Average SOFR + 4.25%)<sup>(a)(e)</sup><br> 8.18%, 05/25/27 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11342000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Project Silver Series 2019-1<sup>(a)</sup><br> 3.97%, 07/15/44 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3359149 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2646386 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Santander Bank Auto Credit-Linked Notes Series 2022-A<sup>(a)</sup><br> 9.97%, 05/15/32 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2179394 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Santander Bank Auto Credit-Linked Notes Series 2022-A<sup>(a)</sup><br> 12.66%, 05/15/32 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8250000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7922472 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Skyline Aircraft Series 2006-S3<sup>(d)</sup><br> 6.17%, 08/17/33 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4786168 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4056278 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sound Point CLO XXX Ltd. Series 2021-2A<br> (Floating, ICE LIBOR USD 3M + 3.35%, 3.35% Floor)<sup>(a)(e)</sup><br> 7.71%, 07/25/34 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3579420 |

---

------

#### ADVISERS INVESTMENT TRUST

#### RIVER CANYON TOTAL RETURN BOND FUND SCHEDULE OF INVESTMENTS

#### December 31, 2022 (Unaudited)

------

---

| | | | |
|:---|:---|:---|:---|
|  | **Percentage<br> of Net<br> Assets** | **Principal Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sound Point CLO XXXI Ltd. Series 2021-3A<br> (Floating, ICE LIBOR USD 3M + 3.25%, 3.25% Floor)<sup>(a)(e)</sup><br> 7.61%, 10/25/34 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2750000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2468832 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U.S. Auto Funding Trust Series 2022-1A<sup>(a)</sup><br> 3.98%, 04/15/25 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3637930 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3588910 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;U.S. Auto Funding Trust Series 2022-1A<sup>(a)</sup><br> 11.79%, 06/15/29 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4552350 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upstart Securitization Trust Series 2022-2<sup>(a)</sup><br> 4.37%, 05/20/32 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6718920 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6568757 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upstart Securitization Trust Series 2022-3<sup>(a)(b)(d)</sup><br> 0.00%, 06/20/32 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5575 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1177673 |
| TOTAL ASSET-BACKED SECURITIES<br> (Cost $147,015,031) |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;136674593 |
| BANK DEBTS<br>| &nbsp;&nbsp;&nbsp;7.3% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PREIT Associates L.P.<br> 9.61%, 12/10/23 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2617240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2486378 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Talen Energy Supply LLC<br> 4.40%, 11/13/23 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11772868 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11839149 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Talen Energy Supply LLC<sup>(f)</sup><br> 11/13/23 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7576000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7618653 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Travelport Finance Luxembourg S.a.r.l.<br> 11.39%, 02/28/25 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5281009 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5280428 |
| TOTAL BANK DEBTS<br> (Cost $27,242,991) |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27224608 |
| CORPORATE BONDS<br>| 12.7% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Arrow Bidco LLC<sup>(a)</sup><br> 9.50%, 03/15/24 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3310000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3302048 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Centene Corp.<br> 4.25%, 12/15/27 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4693875 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Charter Communications Operating LLC<br> 4.91%, 07/23/25 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4904494 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CSC Holdings LLC<sup>(a)</sup><br> 7.50%, 04/01/28 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2032500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;LABL, Inc.<sup>(a)</sup><br> 10.50%, 07/15/27 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14529000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13380033 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Surgery Center Holdings, Inc.<sup>(a)</sup><br> 10.00%, 04/15/27 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7638000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7771665 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;VICI Properties L.P.<sup>(a)</sup><br> 4.25%, 12/01/26 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9313255 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;VICI Properties L.P.<sup>(a)</sup><br> 3.50%, 02/15/25 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1885660 |
| TOTAL CORPORATE BONDS<br> (Cost $50,017,377) |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47283530 |
| MORTGAGE-BACKED SECURITIES<br>| 28.2% |  |  |
| PRIVATE<br>| 15.9% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Home Equity<br>| 14.7% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Angel Oak Mortgage Trust Series 2022-3<sup>(a)(g)</sup><br> 4.17%, 01/10/67 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6610689 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5968397 |

---

------

#### ADVISERS INVESTMENT TRUST

#### RIVER CANYON TOTAL RETURN BOND FUND SCHEDULE OF INVESTMENTS

#### December 31, 2022 (Unaudited)

------

---

| | | | |
|:---|:---|:---|:---|
|  | **Percentage<br> of Net<br> Assets** | **Principal Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Barclays Mortgage Loan Trust Series 2022-INV1<sup>(a)(g)</sup><br> 4.57%, 02/25/62 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$8472800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$6898186 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CWHEQ Home Equity Loan Trust Series 2006-S2<br> 5.64%, 07/25/27 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;272073 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;204055 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CWHEQ Home Equity Loan Trust Series 2006-S3<br> (Step to 6.46% on 2/25/23)<sup>(h)(i)</sup><br> 5.84%, 06/25/21 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;623420 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CWHEQ Home Equity Loan Trust Series 2006-S5<sup>(i)</sup><br> 5.75%, 06/25/35 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1811160 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Home Equity Mortgage Trust Series 2006-1<br> (Floating, ICE LIBOR USD 1M + 0.60%, 0.40% Floor)<sup>(c)(d)(e)</sup><br> 0.66%, 05/25/36 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2731000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2377677 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Home Equity Mortgage Trust Series 2006-1<br> (Floating, ICE LIBOR USD 1M + 0.50%, 0.50% Floor)<sup>(e)</sup><br> 4.89%, 05/25/36 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2695000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2533300 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Home Equity Mortgage Trust Series 2006-1<br> (Step to 5.78% on 4/25/36)<sup>(h)</sup><br> 5.80%, 05/25/36 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;469265 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;444017 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Home Equity Mortgage Trust Series 2006-3<br> (Floating, ICE LIBOR USD 1M + 0.46%, 0.46% Floor)<sup>(e)</sup><br> 4.85%, 09/25/36 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2708000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5436 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Home Equity Mortgage Trust Series 2006-3<br> (Step to 5.97% on 1/25/23)<sup>(h)</sup><br> 5.97%, 09/25/36 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2976807 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2690971 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Home Equity Mortgage Trust Series 2006-3<br> (Step to 5.97% on 1/25/23)<sup>(h)</sup><br> 6.09%, 09/25/36 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4976000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1745568 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Home Equity Mortgage Trust Series 2006-4<br> (Floating, ICE LIBOR USD 1M + 0.61%, 0.61% Floor)<sup>(c)(d)(e)</sup><br> 3.99%, 11/25/36 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4391000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;128 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Home Equity Mortgage Trust Series 2006-4<br> (Floating, ICE LIBOR USD 1M + 0.50%, 0.50% Floor)<sup>(e)</sup><br> 4.52%, 11/25/36 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1354000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3810 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Home Equity Mortgage Trust Series 2006-4<sup>(j)</sup><br> 6.17%, 11/25/36 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5232355 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4734242 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Home Equity Mortgage Trust Series 2006-4<sup>(j)</sup><br> 6.23%, 11/25/36 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3943796 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1941326 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Home Equity Mortgage Trust Series 2006-5<br> (Floating, ICE LIBOR USD 1M + 0.40%, 0.40% Floor)<sup>(e)</sup><br> 4.79%, 01/25/37 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325277 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48792 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Home Equity Mortgage Trust Series 2006-5<br> (Step to 1.47% on 2/25/37)<sup>(h)</sup><br> 6.00%, 01/25/37 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8273899 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7615917 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Imperial Fund Mortgage Trust Series 2022-NQM4<br> (Step to 5.04% on 2/25/23)<sup>(a)(h)</sup><br> 5.04%, 06/25/67 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4000000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3279660 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Imperial Fund Mortgage Trust Series 2022-NQM5<br> (Step to 6.36% on 8/25/26)<sup>(a)(h)</sup><br> 6.25%, 08/25/67 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4125000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3642580 |

---

------

#### ADVISERS INVESTMENT TRUST

#### RIVER CANYON TOTAL RETURN BOND FUND SCHEDULE OF INVESTMENTS

#### December 31, 2022 (Unaudited)

------

---

| | | | |
|:---|:---|:---|:---|
|  | **Percentage<br> of Net<br> Assets** | **Principal Amount** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Indymac Residential Mortgage-Backed Trust Series 2005-L3<br> (Floating, ICE LIBOR USD 1M + 0.44%, 0.44% Floor)<sup>(e)</sup><br> 4.83%, 12/16/35 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1085888 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$825275 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;JP Morgan Resecuritization Trust Series 2009-7<sup>(a)(g)</sup><br> 7.00%, 09/27/37 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9587937 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4199614 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PRPM Trust Series 2022-INV1<sup>(a)(g)</sup><br> 4.45%, 04/25/67 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2600000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1885397 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Residential Asset Securitization Trust Series 2006-A6<br> (Floating, 5.90% - ICE LIBOR USD 1M, 5.90% Cap)<sup>(c)(e)(k)</sup><br> 1.51%, 07/25/36 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11975566 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1202832 |
| Total Home Equity<br> (Cost $56,705,387) |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54681760 |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial Mortgage-Backed Securities<br>| &nbsp;&nbsp;&nbsp;1.2% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CSMC Trust Series 2022-NQM4<br> (Step to 5.16% on 7/25/26)<sup>(a)(h)</sup><br> 4.82%, 06/25/67 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4848900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4359181 |
| Total Commercial Mortgage-Backed Securities<br> (Cost $4,658,643) |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4359181 |
| U.S. GOVERNMENT AGENCIES<br>| 12.3% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FREMF Mortgage Trust Series 2019-KF59<br> (Floating, ICE LIBOR USD 1M + 6.00%, 6.00% Floor)<sup>(a)(e)</sup><br> 10.14%, 02/25/29 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25538666 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25696268 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Government National Mortgage Association Series 2021-205<br> (Floating, 3.20% - U.S. 30-Day Average SOFR, 3.20% Cap)<sup>(c)(e)(k)</sup><br> 0.00%, 11/20/51 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;182889791 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3081949 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Government National Mortgage Association Series 2021-70<sup>(c)(g)(k)</sup><br> 0.71%, 04/16/63 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;287290995 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16837579 |
| TOTAL U.S. GOVERNMENT AGENCIES<br> (Cost $61,517,885) |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45615796 |
| TOTAL MORTGAGE-BACKED SECURITIES<br> (Cost $122,881,915) |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;104656737 |
| MUNICIPAL BONDS<br>| &nbsp;&nbsp;&nbsp;8.2% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;GDB Debt Recovery Authority of Commonwealth Puerto Rico Taxable Revenue Bond<sup>(l)</sup><br> 7.50%, 08/20/40 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31681998 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26454468 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Puerto Rico Commonwealth Notes, Subseries CW<sup>(c)(m)</sup><br> 0.00%, 11/01/43 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9482569 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4148624 |
| TOTAL MUNICIPAL BONDS<br> (Cost $33,726,128) |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30603092 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | **Percentage<br> of Net<br> Assets** | **Shares** | **Value** |
| SHORT-TERM INVESTMENTS<br>| &nbsp;&nbsp;&nbsp;12.5% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Northern Institutional Treasury Portfolio (Premier Class), 3.75%<sup>(n)</sup> |  | 46352888 | &nbsp;&nbsp;&nbsp;46352888 |
| TOTAL SHORT-TERM INVESTMENTS<br> (Cost $46,352,888) |  |  | &nbsp;&nbsp;&nbsp;46352888 |
| TOTAL INVESTMENTS<br>(Cost $427,236,330)<br>| 105.7% |  | 392795448 |

---

------

#### ADVISERS INVESTMENT TRUST

#### RIVER CANYON TOTAL RETURN BOND FUND SCHEDULE OF INVESTMENTS

#### December 31, 2022 (Unaudited)

------

---

| | | | |
|:---|:---|:---|:---|
|  | **Percentage<br> of Net<br> Assets** | **Principal Amount** | **Value** |
| REVERSE REPURCHASE AGREEMENTS<br>| &nbsp;&nbsp;&nbsp;(4.2)% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;RBC Capital Markets LLC, 4.55% (Reverse Repurchase Agreement dated 12/13/22 to be repurchased at $7,570,039 on 01/03/23. Collateralized by VICI Properties L.P., 4.25%, with a value of $9,313,255, due at 12/01/26) |  | &nbsp;&nbsp;&nbsp;&nbsp;$(7550000) | $(7550000) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;RBC Capital Markets LLC, 4.55% (Reverse Repurchase Agreement dated 12/14/22 to be repurchased at $7,957,564 on 01/03/23. Collateralized by LABL, Inc., 10.50%, with a value of $9,209,191, due at 07/15/27) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7937500) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7937500) |
| TOTAL REVERSE REPURCHASE AGREEMENTS<br> (Cost $(15487500)) |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15487500) |
| NET OTHER ASSETS (LIABILITIES)<br>| &nbsp;&nbsp;&nbsp;(1.5)% |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5566465) |
| NET ASSETS<br>| 100.0% |  | &nbsp;&nbsp;&nbsp;&nbsp;$371741483 |

---

---

| |
|:---|
| <sup>(a)</sup>Securities purchased in a transaction exempt from registration under Rule 144A of the Securities Act of 1933. These securities may not be publicly traded without registration under the Securities Act of 1933. The value of these securities is determined by valuations supplied by a pricing service or brokers. |
| <sup>(b)</sup>Equity tranche security. |
| <sup>(c)</sup>Non-income producing security. |
| <sup>(d)</sup>Security valued pursuant to Level 3 unobservable inputs. |
| <sup>(e)</sup>Floating rate security. The rate presented is the rate in effect at December 31, 2022, and the related index and spread are shown parenthetically for each security. |
| <sup>(f)</sup>Position is unfunded. Contract rate was not determined at December 31, 2022 and does not take effect until drawn. |
| <sup>(g)</sup>Variable or floating rate security, the interest rate of which adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. |
| <sup>(h)</sup>Step coupon bond. Rate as of December 31, 2022 is disclosed. |
| <sup>(i)</sup>FGIC insured bond in which the current value primarily relates to pending insurance payments. |
| <sup>(j)</sup>The interest rate on this certificate may increase 0.50% per annum after the first possible optional termination date. |
| <sup>(k)</sup>Interest only security |
| <sup>(l)</sup>Security is a payment in-kind bond, and unless otherwise noted in the description of the security, pays its entire coupon on an in-kind basis. |
| <sup>(m)</sup>These securities are remarketed by an agent, and the interest rate is determined by general market conditions and supply and demand. |
| <sup>(n)</sup>7-day current yield as of December 31, 2022 is disclosed. |

---

Abbreviations: <br> CLO – Collateralized Loan Obligation

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Advisers Investment Trust

- **b. Investment Company Act file number:** 811-22538

- **c. CIK number of Registrant:** 0001516523

- **d. LEI of Registrant:** 549300BG52TB5QPLYE22

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 50 S. LaSalle Street

  - **City:** Chicago

  - **State:** IL

  - **Foreign country:** US

  - **Zip / Postal Code:** 60603

  - **Telephone number:** 312-557-4100

**Item A.2. Information about the Series.**

- **a. Name of Series:** River Canyon Total Return Bond Fund

- **b. EDGAR series identifier (if any):** S000048359

- **c. LEI of Series:** 549300KPJ4MWUB2SY635

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2023-09-30

- **b. Date as of which information is reported:** 2022-12-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $395909741.62

**Total Liabilities:** $24037419.65

**Net Assets:** $371872321.97

**Delayed Delivery Securities:** $7538120.00

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** 275.296884680069 | **1-Year:** 3550.106032046329 | **5-Year:** 6397.200557011165 | **10-Year:** 7279.511347390637 | **30-Year:** 955.544515762436

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** 427.841141271683 | **1-Year:** 19186.092453119429 | **5-Year:** 10980.502041871389 | **10-Year:** 19062.855279563211 | **30-Year:** 14939.340634566467

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000152732 | 0.07%                | 1.03%                | 0.16%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $102544.67               | $-2666577.03                               |
| Month 2  | $1567841.55              | $-50851.57                                 |
| Month 3  | $-2111246.21             | $1244040.46                                |

### Schedule of Portfolio Investments

| Name                                                                                 | Title                          | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Countrywide Asset                                                                    | CWL 2006-S3 A5                 | CUSIP: 23242MAE1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |         9 | PA      | $623420.00    | 0.17%             | 2021-06-25      | Floating      | 5.84%                 | No            |                  2 | On Loan: No      |
| CSC Holdings, LLC                                                                    | CSCHLD 7.5 04/01/28 144a       | CUSIP: 126307AY3<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2032500.00   | 0.55%             | 2028-04-01      | Fixed         | 7.50%                 | Yes           |                  2 | On Loan: No      |
| Silver Aircraft Lease Investment Ltd/Silver Aircraft Leasing Inc                     | SLVRR 2019-1 A                 | CUSIP: 827304AA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |   3359149 | PA      | $2646385.93   | 0.71%             | 2044-07-15      | Fixed         | 3.97%                 | Yes           |                  2 | On Loan: No      |
| Centene Corporation                                                                  | CNC 4.25 12/15/27              | CUSIP: 15135BAR2<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $4693875.00   | 1.26%             | 2027-12-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GNR 2021-70 IO                 | CUSIP: 38381DAX8<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        | 287290996 | PA      | $16837579.40  | 4.53%             | 2063-04-16      | Floating      | 0.71%                 | No            |                  2 | On Loan: No      |
| U.S. AUTO FUNDING TRUST 2022-1                                                       | USAUT 2022-1A E                | CUSIP: 90355FAE8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5000000 | PA      | $4552350.00   | 1.22%             | 2029-06-15      | Fixed         | 11.79%                | Yes           |                  2 | On Loan: No      |
| MAPS LTD                                                                             | MAPSL 2019-1A A                | CUSIP: 55283LAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | BM        |   1328122 | PA      | $1165375.66   | 0.31%             | 2044-03-15      | Fixed         | 4.46%                 | Yes           |                  2 | On Loan: No      |
| Indymac ABS, Inc.                                                                    | INDYL 2005-L3 A                | CUSIP: 456606JY9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1085888 | PA      | $825274.91    | 0.22%             | 2035-12-16      | Floating      | 4.83%                 | No            |                  2 | On Loan: No      |
| Travelport Finance (Luxembourg) Sarl                                                 | TPORT L 02/28/25 3             | CUSIP: L9308UAU4<br>LEI: 2221005SGFWYZHL40F77 | Long             | LON              | CORP              | LU        |   5185969 | PA      | $5185398.11   | 1.39%             | 2025-09-24      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| MERCURY FINANCIAL CREDIT CARD MASTER TURST                                           | MFCC 2022-3A C                 | CUSIP: 58940BAP1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3550000 | PA      | $3558794.42   | 0.96%             | 2027-06-21      | Fixed         | 13.44%                | Yes           |                  2 | On Loan: No      |
| Arrow BidCo LLC                                                                      | ARWBID 9.5 03/15/24 144A       | CUSIP: 042728AA3<br>LEI: 549300YHZN08M0H3O128 | Long             | DBT              | CORP              | US        |   3310000 | PA      | $3302048.32   | 0.89%             | 2024-03-15      | Fixed         | 9.50%                 | Yes           |                  2 | On Loan: No      |
| UPSTART SECURITIZATION TRUST 2022-2                                                  | UPST 2022-2 A                  | CUSIP: 91679TAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   6718920 | PA      | $6568756.99   | 1.77%             | 2032-05-20      | Fixed         | 4.37%                 | Yes           |                  2 | On Loan: No      |
| MISSION LANE CREDIT CARD MASTER TRUST                                                | MLANE 2022-A A                 | CUSIP: 60510MAE8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3000000 | PA      | $2929949.10   | 0.79%             | 2027-09-15      | Fixed         | 6.92%                 | Yes           |                  2 | On Loan: No      |
| CSMC Mortgage-Backed Trust Series 2006-1                                             | HEMT 2006-1 A2                 | CUSIP: 225470XK4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    469265 | PA      | $444017.25    | 0.12%             | 2036-05-25      | Floating      | 5.80%                 | No            |                  2 | On Loan: No      |
| Vici Properties Inc                                                                  | VICI 3.5 02/15/25 144A         | CUSIP: 92564RAC9<br>LEI: 254900X4QE7SGKQLLN38 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1885660.00   | 0.51%             | 2025-02-15      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| MF1 2022-FL9 LLC                                                                     | MF1 2022-FL9 A                 | CUSIP: 55285AAA5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |  10000000 | PA      | $9853490.00   | 2.65%             | 2037-06-22      | Floating      | 6.47%                 | Yes           |                  2 | On Loan: No      |
| Home Equity Mortgage Trust 2006-5                                                    | HEMT 2006-5 A1                 | CUSIP: 43709PAB4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   8273899 | PA      | $7615917.10   | 2.05%             | 2037-01-25      | Floating      | 6.00%                 | No            |                  2 | On Loan: No      |
| Cwheq Hm Eqty 06s5                                                                   | CWL 2006-S5 A6                 | CUSIP: 126683AF8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |        23 | PA      | $1811160.00   | 0.49%             | 2035-06-25      | Floating      | 5.75%                 | No            |                  2 | On Loan: No      |
| Surgery Center Holdings, Inc.                                                        | SURCEN 10 04/15/27 144A        | CUSIP: 86881WAD4<br>LEI: 54930054EVI5HWPPW113 | Long             | DBT              | CORP              | US        |  13000000 | PA      | $13227500.00  | 3.56%             | 2027-04-15      | Fixed         | 10.00%                | Yes           |                  2 | On Loan: No      |
| LABL Escrow Issuer LLC                                                               | LABL 10.5 07/15/27 144A        | CUSIP: 50168AAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  14529000 | PA      | $13380032.88  | 3.60%             | 2027-07-15      | Fixed         | 10.50%                | Yes           |                  2 | On Loan: No      |
| OASIS 2021-1 LLC                                                                     | OASIS 2021-1A A                | CUSIP: 67422AAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    337351 | PA      | $332420.64    | 0.09%             | 2033-01-15      | Fixed         | 2.58%                 | Yes           |                  2 | On Loan: No      |
| SKYLINE AIRCRAFT 6.171%                                                              | SKYLINE AIRCRAFT 6.171%        | CUSIP: 830848AC1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4786168 | PA      | $4056277.55   | 1.09%             | 2033-08-17      | Fixed         | 6.17%                 | No            |                  3 | On Loan: No      |
| BARCLAYS MORTGAGE LOAN TRUST 2022-INV1                                               | BARC 2022-INV1 B2              | CUSIP: 06744YAF0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4450880 | PA      | $3556658.15   | 0.96%             | 2062-02-25      | Floating      | 4.57%                 | Yes           |                  2 | On Loan: No      |
| IMPERIAL FUND MORTGAGE TRUST 2022-NQM5                                               | IMPRL 2022-NQM5 B1             | CUSIP: 45276QAE4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1125000 | PA      | $964729.69    | 0.26%             | 2067-08-25      | Floating      | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Home Equity Mortgage Trust 2006-4                                                    | HEMT 2006-4 A1                 | CUSIP: 43709JAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5232355 | PA      | $4734241.81   | 1.27%             | 2036-11-25      | Floating      | 6.17%                 | No            |                  2 | On Loan: No      |
| Vici Properties Inc                                                                  | VICI 4.25 12/01/26 144A        | CUSIP: 92564RAA3<br>LEI: 254900X4QE7SGKQLLN38 | Long             | DBT              | CORP              | US        |  10000000 | PA      | $9313254.90   | 2.50%             | 2026-12-01      | Fixed         | 4.25%                 | Yes           |                  2 | On Loan: No      |
| FREMF Mortgage Trust                                                                 | FREMF 2019-KF59 C              | CUSIP: 30297XAJ5<br>LEI: N/A                  | Long             | ABS-O            | USGSE             | US        |  25538666 | PA      | $25696267.64  | 6.91%             | 2029-02-25      | Floating      | 10.14%                | Yes           |                  2 | On Loan: No      |
| BARCLAYS MORTGAGE LOAN TRUST 2022-INV1                                               | BARC 2022-INV1 B1              | CUSIP: 06744YAE3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4021920 | PA      | $3341527.77   | 0.90%             | 2062-02-25      | Floating      | 4.57%                 | Yes           |                  2 | On Loan: No      |
| CP EF ASSET SECUITIZATION LLC                                                        | CPEF 2022-1A A                 | CUSIP: 12662AAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4047300 | PA      | $3981243.35   | 1.07%             | 2030-04-15      | Fixed         | 5.96%                 | Yes           |                  2 | On Loan: No      |
| IMPERIAL FUND MORTGAGE TRUST 2022-NQM5                                               | IMPRL 2022-NQM5 M1             | CUSIP: 45276QAD6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3000000 | PA      | $2677850.40   | 0.72%             | 2067-08-25      | Floating      | 6.25%                 | Yes           |                  2 | On Loan: No      |
| Cwheq Inc                                                                            | CWL 2006-S2 A3                 | CUSIP: 126685DX1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    272073 | PA      | $204054.69    | 0.05%             | 2027-07-25      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| Horizon Aircraft Finance I Ltd / Horizon Aircraft Finance I Llc                      | HORZN 2018-1 A                 | CUSIP: 440405AE8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |   4583432 | PA      | $3753829.32   | 1.01%             | 2038-12-15      | Fixed         | 4.46%                 | Yes           |                  2 | On Loan: No      |
| Resid Asset Secur                                                                    | RAST 2006-A6 1A3               | CUSIP: 76113FAC4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  11975566 | PA      | $1202831.85   | 0.32%             | 2036-07-25      | Floating      | 1.51%                 | No            |                  2 | On Loan: No      |
| IMPERIAL FUND MORTGAGE TRUST 2022-NQM4                                               | IMPRL 2022-NQM4 B1             | CUSIP: 45276NAE1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4000000 | PA      | $3279660.40   | 0.88%             | 2067-06-25      | Floating      | 5.04%                 | Yes           |                  2 | On Loan: No      |
| Talen Energy Supply LLC                                                              | Talen Energy Supply LLC        | CUSIP: 87422LAP5<br>LEI: K5K33XN0PQAU1XF7NN66 | Long             | LON              | CORP              | US        |  19348868 | PA      | $19457802.13  | 5.23%             | 2023-11-30      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| JP Morgan Resecuritization Trust Ser 2009-7                                          | JPMRR 2009-7 7A1               | CUSIP: 46633PAL6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   9587937 | PA      | $4199614.30   | 1.13%             | 2037-09-27      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Charter Communications Operating, LLC/Charter Communications Operating Capital Corp. | CHTR 4.908 07/23/25            | CUSIP: 161175AY0<br>LEI: 549300TPZNMN50BJ3745 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $4904494.05   | 1.32%             | 2025-07-23      | Fixed         | 4.91%                 | No            |                  2 | On Loan: No      |
| Santander Bank National Association                                                  | SBCLN 2022-A D                 | CUSIP: 80290CAU8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2250000 | PA      | $2179394.10   | 0.59%             | 2032-05-17      | Fixed         | 9.96%                 | Yes           |                  2 | On Loan: No      |
| CSMC 2022-NQM4 TRUST                                                                 | CSMC 2022-NQM4 A3              | CUSIP: 12665EAE0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4848900 | PA      | $4359180.59   | 1.17%             | 2067-06-25      | Floating      | 4.82%                 | Yes           |                  2 | On Loan: No      |
| UPSTART SECURITIZATION TRUST 2022-3                                                  | UPST 2022-3 R                  | CUSIP: 91683TAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      5575 | PA      | $1177673.07   | 0.32%             | 2032-06-20      | Fixed         | 0.00%                 | Yes           |                  3 | On Loan: No      |
| U.S. AUTO FUNDING TRUST 2022-1                                                       | USAUT 2022-1A A                | CUSIP: 90355FAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3637930 | PA      | $3588910.00   | 0.97%             | 2025-04-15      | Fixed         | 3.98%                 | Yes           |                  2 | On Loan: No      |
| PRPM 2022-INV1 TRUST                                                                 | PRPM 2022-INV1 B1              | CUSIP: 69377EAE9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2600000 | PA      | $1885397.02   | 0.51%             | 2067-04-25      | Floating      | 4.45%                 | Yes           |                  2 | On Loan: No      |
| GOLDMAN HOME IMPROVEMENT TRUST 2022-GRN1 ISSUER TRUST                                | GHIT 2022-GRN1 R               | CUSIP: 38150YAE3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     50000 | PA      | $6397500.00   | 1.72%             | 2052-06-25      | Fixed         | 0.00%                 | Yes           |                  3 | On Loan: No      |
| SOUND POINT CLO XXX LTD                                                              | SNDPT 2021-2A D                | CUSIP: 83614UAL1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   4000000 | PA      | $3579419.60   | 0.96%             | 2034-07-25      | Floating      | 7.71%                 | Yes           |                  2 | On Loan: No      |
| GDB DEBT RECOVERY AUTH OF COMWLTH PUERTO RICO                                        | PR PRCDEV 7.5 08/20/2040       | CUSIP: 36829QAA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  31681998 | PA      | $26454468.34  | 7.11%             | 2040-08-20      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust 2022-3                                                      | AOMT 2022-3 A2                 | CUSIP: 03464TAB5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   6610689 | PA      | $5968397.38   | 1.60%             | 2067-01-25      | Floating      | 4.17%                 | Yes           |                  2 | On Loan: No      |
| ACC AUTO TRUST                                                                       | AUTOC 2022-A A                 | CUSIP: 00085YAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   7524090 | PA      | $7394394.02   | 1.99%             | 2026-07-15      | Fixed         | 4.58%                 | Yes           |                  2 | On Loan: No      |
| SOUND POINT CLO XXXI LTD                                                             | SNDPT 2021-3A D                | CUSIP: 83615PAG2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2750000 | PA      | $2468831.48   | 0.66%             | 2034-10-25      | Floating      | 7.61%                 | Yes           |                  2 | On Loan: No      |
| Newrez LLC / Newres Gmsr Excess Owner LLC                                            | NZES 2021-GNT1 A               | CUSIP: 65246QAA7<br>LEI: 549300FNXYY540N23N64 | Long             | ABS-O            | CORP              | US        |  11433074 | PA      | $10073221.47  | 2.71%             | 2026-11-25      | Fixed         | 3.47%                 | Yes           |                  2 | On Loan: No      |
| Northern Inst Fds                                                                    | Northern Inst Fds TREAS PTF CL | CUSIP: 665279808<br>LEI: 549300Y178DO5JBR1S04 | Long             | STIV             | RF                | US        |  43058112 | NS      | $43058111.65  | 11.58%            |  |  |  | No            |                  1 | On Loan: No      |
| RBC CAPITAL MARKETS, LLC                                                             | RBC CAPITAL MARKETS, LLC       | CUSIP: 77799DEC4<br>LEI: N/A                  | Short            | RA               | CORP              | US        |  -7550000 | PA      | $-7550000.00  | -2.03%            | 2023-01-03      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| RBC CAPITAL MARKETS, LLC                                                             | RBC CAPITAL MARKETS, LLC       | CUSIP: 77799DEC4<br>LEI: N/A                  | Short            | RA               | CORP              | US        |  -7937500 | PA      | $-7937500.00  | -2.13%            | 2023-01-03      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| Home Equity Mortgage Trust 2006-3                                                    | HEMT 2006-3 A3                 | CUSIP: 436944AC6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2708000 | PA      | $5436.04      | 0.00%             | 2036-09-25      | Floating      | 4.85%                 | No            |                  2 | On Loan: No      |
| OASIS 2021-2 LLC                                                                     | OASIS 2021-2A A                | CUSIP: 67422CAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   5715195 | PA      | $5573444.56   | 1.50%             | 2033-10-15      | Fixed         | 2.14%                 | Yes           |                  2 | On Loan: No      |
| ICG US CLO 2022-1 (I) Ltd / ICG US CLO 2022-1 (I) LLC                                | ICG 2020-1A DR                 | CUSIP: 449251AS6<br>LEI: 254900UXTGDH0QOBDH07 | Long             | ABS-CBDO         | CORP              | KY        |   3000000 | PA      | $2776038.90   | 0.75%             | 2035-01-22      | Floating      | 7.84%                 | Yes           |                  2 | On Loan: No      |
| Santander Bank National Association                                                  | SBCLN 2022-A E                 | CUSIP: 80290CAV6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   8250000 | PA      | $7922471.70   | 2.13%             | 2032-05-17      | Fixed         | 12.66%                | Yes           |                  2 | On Loan: No      |
| Home Equity Mortgage Trust 2006-3                                                    | HEMT 2006-3 A2                 | CUSIP: 436944AB8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   4976000 | PA      | $1745567.86   | 0.47%             | 2036-09-25      | Floating      | 6.09%                 | No            |                  2 | On Loan: No      |
| Home Equity Mortgage Trust 2006-3                                                    | HEMT 2006-3 A1                 | CUSIP: 436944AA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2976807 | PA      | $2690970.87   | 0.72%             | 2036-09-25      | Floating      | 5.97%                 | No            |                  2 | On Loan: No      |
| Home Equity Mortgage Trust 2006-4                                                    | HEMT 2006-4 A2                 | CUSIP: 43709JAB8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3943796 | PA      | $1941326.09   | 0.52%             | 2036-11-25      | Floating      | 6.23%                 | No            |                  2 | On Loan: No      |
| CSMC Mortgage-Backed Trust Series 2006-1                                             | HEMT 2006-1 M1                 | CUSIP: 225470XP3<br>LEI: 1V8Y6QCX6YMJ2OELII46 | Long             | ABS-O            | CORP              | US        |   2731000 | PA      | $2377676.88   | 0.64%             | 2036-05-25      | Floating      | 0.66%                 | No            |                  3 | On Loan: No      |
| Home Equity Mortgage Trust 2006-4                                                    | HEMT 2006-4 A3                 | CUSIP: 43709JAC6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1354000 | PA      | $3810.16      | 0.00%             | 2036-11-25      | Floating      | 4.52%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                             | GNR 2021-205 NS                | CUSIP: 38383C3U2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-O            | USGA              | US        | 182889791 | PA      | $3081949.02   | 0.83%             | 2051-11-20      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| BUSINESS JET SECURITIES LLC                                                          | BJETS 2021-1A C                | CUSIP: 12327BAC0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1972895 | PA      | $1731293.86   | 0.47%             | 2036-04-15      | Fixed         | 5.07%                 | Yes           |                  2 | On Loan: No      |
| PUERTO RICO COMWLTH                                                                  | PR PRC 11/01/2043              | CUSIP: 74514L3T2<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |   9482569 | PA      | $4148623.97   | 1.12%             | 2043-11-01      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| Pnmac Gsmr Issuer Trust                                                              | PNMSR 2022-FT1 A               | CUSIP: 69346MAE9<br>LEI: 5493007JEN3QN6CZC711 | Long             | ABS-O            | CORP              | US        |   8000000 | PA      | $7699484.80   | 2.07%             | 2027-06-25      | Floating      | 8.13%                 | Yes           |                  2 | On Loan: No      |
| CSMC Mortgage-Backed Trust Series 2006-1                                             | HEMT 2006-1 A3                 | CUSIP: 225470XL2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2695000 | PA      | $2533300.00   | 0.68%             | 2036-05-25      | Floating      | 4.89%                 | No            |                  2 | On Loan: No      |
| Home Equity Mortgage Trust 2006-5                                                    | HEMT 2006-5 A2                 | CUSIP: 43709PAC2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    325277 | PA      | $48791.55     | 0.01%             | 2037-01-25      | Floating      | 4.79%                 | No            |                  2 | On Loan: No      |
| Home Equity Mortgage Trust 2006-4                                                    | HEMT 2006-4 M6                 | CUSIP: 43709JAK8<br>LEI: 1V8Y6QCX6YMJ2OELII46 | Long             | ABS-O            | CORP              | US        |   4391000 | PA      | $128.17       | 0.00%             | 2036-11-25      | Floating      | 3.99%                 | No            |                  3 | On Loan: No      |
| PAGAYA AI DEBT TST. 4.97%                                                            | PAGAYA AI DEBT TST. 4.97%      | CUSIP: 69546VAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   7945613 | PA      | $7757087.15   | 2.09%             | 2030-01-15      | Fixed         | 4.97%                 | No            |                  2 | On Loan: No      |
| CLSEC HOLDINGS 22T LLC                                                               | CLAF 2021-1 C                  | CUSIP: 12567UAC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  14383363 | PA      | $11614554.41  | 3.12%             | 2037-05-11      | Floating      | 6.17%                 | No            |                  2 | On Loan: No      |
| Pnmac Gsmr Issuer Trust                                                              | PNMSR 2022-GT1 A               | CUSIP: 69354WAF3<br>LEI: 5493007JEN3QN6CZC711 | Long             | ABS-O            | CORP              | US        |  12000000 | PA      | $11342000.40  | 3.05%             | 2027-05-25      | Floating      | 8.18%                 | Yes           |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2023-01-30

**Name of Applicant:** Advisers Investment Trust

**Signature:** Troy Sheets

**Name of Signer:** Troy Sheets

**Title:** Treasurer