# EDGAR Filing Document

**Accession Number:** 0001141819
**File Stem:** 0001145549-25-051521
**Filing Date:** 2025-8
**Character Count:** 120627
**Document Hash:** 1a948de42f438b3d9e9b503885fe54a0
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-25-051521.hdr.sgml**: 20250815

**ACCESSION NUMBER**: 0001145549-25-051521

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250815

**DATE AS OF CHANGE**: 20250815

**PERIOD START**: 20250930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** TRUST FOR PROFESSIONAL MANAGERS
- **CENTRAL INDEX KEY:** 0001141819

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-10401
- **FILM NUMBER:** 251223975

**BUSINESS ADDRESS:**
- **STREET 1:** U.S. BANCORP FUND SERVICES LLC
- **STREET 2:** 615 EAST MICHIGAN ST 2ND FLOOR
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53202
- **BUSINESS PHONE:** 4147655067

**MAIL ADDRESS:**
- **STREET 1:** U.S. BANCORP FUND SERVICES LLC
- **STREET 2:** 615 EAST MICHIGAN ST 2ND FLOOR
- **CITY:** MILWAUKEE
- **STATE:** WI
- **ZIP:** 53202

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ZODIAC TRUST
- **DATE OF NAME CHANGE:** 20010601

## Series and Classes Contracts Data

### CrossingBridge Low Duration High Income Fund (Series ID: S000060190)

| Class ID   | Class Name                                                                | Ticker Symbol   |
|:---|:---|:---|
| C000196992 | CrossingBridge Low Duration High Income Fund - Retail Class Shares        | CBLVX           |
| C000196993 | CrossingBridge Low Duration High Income Fund - Institutional Class Shares | CBLDX           |

## Nport-Ex

---

| | | | |
|:---|:---|:---|:---|
| **CrossingBridge Low Duration High Income Fund** | **CrossingBridge Low Duration High Income Fund** | **CrossingBridge Low Duration High Income Fund** | **CrossingBridge Low Duration High Income Fund** |
| **Schedule of Investments** | **Schedule of Investments** | **Schedule of Investments** | **Schedule of Investments** |
| **June 30, 2025 (Unaudited)** | **June 30, 2025 (Unaudited)** | **June 30, 2025 (Unaudited)** | **June 30, 2025 (Unaudited)** |
| **CORPORATE BONDS - 62.0%** | **CORPORATE BONDS - 62.0%** | **Par** | **Value** |
| **Accommodation and Food Services - 4.2%** | **Accommodation and Food Services - 4.2%** | **Accommodation and Food Services - 4.2%** | **Accommodation and Food Services - 4.2%** |
|  GrubHub Holdings, Inc., 5.50%, 07/01/2027 <sup>(a)</sup> |  | 25771000 | $25035442 |
|  Papa John's International, Inc., 3.88%, 09/15/2029 <sup>(a)</sup> |  | 6552000 | 6385041 |
|  Sizzling Platter LLC, 8.50%, 11/28/2025 <sup>(a)</sup> |  | 32300000 | 32315710 |
|  |  |  | 63736193 |
| **Administrative and Support and Waste Management and Remediation Services - 1.7%** | **Administrative and Support and Waste Management and Remediation Services - 1.7%** | **Administrative and Support and Waste Management and Remediation Services - 1.7%** | **Administrative and Support and Waste Management and Remediation Services - 1.7%** |
|  Fair Isaac Corp., 5.25%, 05/15/2026 <sup>(a)</sup> |  | 10075000 | 10088249 |
|  Uber Technologies, Inc., 6.25%, 01/15/2028 <sup>(a)</sup> |  | 15915000 | 16000925 |
|  |  |  | 26089174 |
| **Arts, Entertainment, and Recreation - 0.4%** | **Arts, Entertainment, and Recreation - 0.4%** | **Arts, Entertainment, and Recreation - 0.4%** | **Arts, Entertainment, and Recreation - 0.4%** |
|  CCM Merger, Inc., 6.38%, 05/01/2026 <sup>(a)</sup> |  | 5628000 | 5645903 |
| **Communications - 0.5%** | **Communications - 0.5%** | **Communications - 0.5%** | **Communications - 0.5%** |
| Gentoo Media PLC | Gentoo Media PLC | Gentoo Media PLC | Gentoo Media PLC |
| &nbsp;&nbsp; 9.25% (3 mo. EURIBOR + 7.25%), 12/18/2026 | EUR | 3510000 | 4248307 |
| &nbsp;&nbsp; 9.42% (3 Month Stockholm Interbank Offered Rates + 7.25%), 12/18/2026 | SEK | 28175000 | 3048775 |
|  |  |  | 7297082 |
| **Construction - 0.5%** | **Construction - 0.5%** | **Construction - 0.5%** | **Construction - 0.5%** |
|  Five Point Operating Co. LP, 10.50%, 01/15/2028 <sup>(a)(b)</sup> |  | 4776361 | 4862665 |
|  TK Elevator Holdco GmbH, 7.63%, 07/15/2028 <sup>(a)</sup> |  | 2849000 | 2854023 |
|  |  |  | 7716688 |
| **Consumer Discretionary - 1.6%** | **Consumer Discretionary - 1.6%** | **Consumer Discretionary - 1.6%** | **Consumer Discretionary - 1.6%** |
|  Aider Konsern AS, 8.79% (Norway Interbank Offered Rate Fixing 3 Month + 4.15%), 09/05/2028 | NOK | 26550000 | 2699937 |
|  Alaska Airlines, Inc., Series A, 4.80%, 08/15/2027 <sup>(a)</sup> |  | 1192887 | 1194736 |
|  OP Holdco GmbH, 8.47% (3 mo. EURIBOR + 6.50%), 06/05/2029 <sup>(a)</sup> | EUR | 16900000 | 19322633 |
|  View Ledger AS, 9.09% (Norway Interbank Offered Rate Fixing 3 Month + 4.50%), 01/31/2029 | NOK | 9500000 | 966079 |
|  |  |  | 24183385 |
| **Energy - 1.9%** | **Energy - 1.9%** | **Energy - 1.9%** | **Energy - 1.9%** |
|  Forum Energy Technologies, Inc., 10.50%, 11/07/2029 |  | 17250000 | 17591725 |
|  Golar LNG Ltd., 7.00%, 10/20/2025 <sup>(a)</sup> |  | 10290000 | 10331803 |
|  |  |  | 27923528 |
| **Finance and Insurance - 7.4%** | **Finance and Insurance - 7.4%** | **Finance and Insurance - 7.4%** | **Finance and Insurance - 7.4%** |
| BGC Group, Inc. | BGC Group, Inc. | BGC Group, Inc. | BGC Group, Inc. |
| &nbsp;&nbsp; 4.38%, 12/15/2025 |  | 20722000 | 20661581 |
| &nbsp;&nbsp; 6.15%, 04/02/2030 <sup>(a)</sup> |  | 6707000 | 6801466 |
|  Boras V-tyget 1 AB, 8.05% (3 Month Stockholm Interbank Offered Rates + 5.75%), 04/29/2027 | SEK | 165900000 | 17886036 |
|  Compass Group Diversified Holdings LLC, 5.25%, 04/15/2029 <sup>(a)</sup> |  | 12391000 | 11132750 |
|  General Motors Financial Co., Inc., 6.05%, 10/10/2025 |  | 3779000 | 3791563 |
|  Goldcup 100865 AB, 7.83% (3 Month Stockholm Interbank Offered Rates + 5.50%), 07/11/2028 | SEK | 6250000 | 670523 |
|  Icahn Enterprises LP, 5.25%, 05/15/2027 |  | 19652000 | 19055691 |
|  Mutares SE & Co. KGaA, 10.48% (3 mo. EURIBOR + 8.50%), 03/31/2027 | EUR | 2000000 | 2401142 |
|  Novedo Holding AB, 9.16% (3 Month Stockholm Interbank Offered Rates + 7.00%), 09/23/2027 | SEK | 56250000 | 5915796 |
|  Prime Security Services Borrower LLC, 5.75%, 04/15/2026 <sup>(a)</sup> |  | 12840000 | 12919135 |
|  Qflow Group AB, 7.65% (3 Month Stockholm Interbank Offered Rates + 5.50%), 09/25/2028 | SEK | 27500000 | 2929620 |
|  Stockwik Forvaltning AB, 10.16% (3 Month Stockholm Interbank Offered Rates + 8.00%), 03/20/2026 | SEK | 65000000 | 7016378 |
|  |  |  | 111181681 |
| **Health Care and Social Assistance - 2.4%** | **Health Care and Social Assistance - 2.4%** | **Health Care and Social Assistance - 2.4%** | **Health Care and Social Assistance - 2.4%** |
|  Formycon AG, 8.94% (3 mo. EURIBOR + 7.00%), 07/09/2029 | EUR | 12188000 | 14428681 |
|  HCA, Inc., 5.25%, 06/15/2026 |  | 4933000 | 4940180 |
|  Magle Chemoswed Holding AB, 8.63% (3 Month Stockholm Interbank Offered Rates + 6.50%), 07/04/2028 | SEK | 117500000 | 12046951 |
|  Orexo AB, 8.66% (3 Month Stockholm Interbank Offered Rates + 6.50%), 03/28/2028 | SEK | 47500000 | 4744527 |
|  |  |  | 36160339 |
| **Industrials - 3.2%** | **Industrials - 3.2%** | **Industrials - 3.2%** | **Industrials - 3.2%** |
|  Beelux Sarl, 8.48% (3 mo. EURIBOR + 6.50%), 03/14/2028 <sup>(b)</sup> | EUR | 11900000 | 13632160 |
|  Booster Precision Components GmbH, 11.04% (3 mo. EURIBOR + 9.00%), 11/28/2026 | EUR | 1871000 | 2085330 |
|  Mangrove Luxco III Sarl, 7.28% (3 mo. EURIBOR + 5.00%), 07/15/2029 | EUR | 20826000 | 24798877 |
|  Seapeak LLC, 9.79% (Norway Interbank Offered Rate Fixing 3 Month + 5.15%), 09/02/2025 | NOK | 25000000 | 2499733 |
|  Stolt-Nielsen Ltd., 7.52% (Norway Interbank Offered Rate Fixing 3 Month + 3.15%), 09/26/2028 <sup>(a)</sup> | NOK | 13500000 | 1382058 |
|  Twma Finance AS, 13.00%, 02/08/2027 |  | 3369000 | 3503760 |
|  |  |  | 47901918 |
| **Information - 11.5%** | **Information - 11.5%** | **Information - 11.5%** | **Information - 11.5%** |
|  Azerion Group NV, 8.69% (3 mo. EURIBOR + 6.75%), 10/02/2026 | EUR | 17561000 | 20634325 |
| Cabonline Group Holding AB | Cabonline Group Holding AB | Cabonline Group Holding AB | Cabonline Group Holding AB |
| &nbsp;&nbsp; 10.00%, 03/19/2028 | SEK | 21879529 | 2261552 |
| &nbsp;&nbsp; 12.00%, 03/19/2028 | SEK | 77770274 | 7942746 |
| Consolidated Communications, Inc. | Consolidated Communications, Inc. | Consolidated Communications, Inc. | Consolidated Communications, Inc. |
| &nbsp;&nbsp; 5.00%, 10/01/2028 <sup>(a)</sup> |  | 11904000 | 12037149 |
| &nbsp;&nbsp; 6.50%, 10/01/2028 <sup>(a)</sup> |  | 47972000 | 48933956 |
|  GCI LLC, 4.75%, 10/15/2028 <sup>(a)</sup> |  | 14741000 | 14261734 |
| Go North Group AB | Go North Group AB | Go North Group AB | Go North Group AB |
| &nbsp;&nbsp; 0.00%, 02/09/2026 <sup>(c)(d)</sup> | SEK | 1338933 | 3313 |
| &nbsp;&nbsp; 10.15% (SOFR + 5.76%), 02/09/2026 |  | 7610942 | 4186018 |
| &nbsp;&nbsp; 15.00%, 02/09/2026 |  | 2950951 | 118038 |
| &nbsp;&nbsp; 15.00% (or 15.00% PIK) (3 Month STIBOR + 10.00%), 02/09/2027 | SEK | 14445312 | 87793 |
| &nbsp;&nbsp; 15.00%, 02/02/2028 <sup>(c)(e)</sup> | SEK | 5884691 | 0 |
|  Impala BondCo PLC, 12.00% (3 Month STIBOR + 9.00%), 10/30/2027 | SEK | 13491397 | 891260 |
|  Sprint LLC, 7.63%, 03/01/2026 |  | 25800000 | 26049100 |
|  SS&C Technologies, Inc., 5.50%, 09/30/2027 <sup>(a)</sup> |  | 28285000 | 28290535 |
|  Warnermedia Holdings, Inc., 3.76%, 03/15/2027 |  | 8026000 | 7660590 |
|  |  |  | 173358109 |
| **Management of Companies and Enterprises - 2.0%** | **Management of Companies and Enterprises - 2.0%** | **Management of Companies and Enterprises - 2.0%** | **Management of Companies and Enterprises - 2.0%** |
|  International Game Technology PLC, 4.13%, 04/15/2026 <sup>(a)</sup> |  | 8884000 | 8884787 |
|  Welltec International ApS, 8.25%, 10/15/2026 <sup>(a)</sup> |  | 20471000 | 20476513 |
|  |  |  | 29361300 |
| **Manufacturing - 10.3%** | **Manufacturing - 10.3%** | **Manufacturing - 10.3%** | **Manufacturing - 10.3%** |
|  AbbVie, Inc., 2.95%, 11/21/2026 |  | 8400000 | 8263133 |
|  Amgen, Inc., 5.51%, 03/02/2026 |  | 2700000 | 2700409 |
|  Cannabist Co. Holdings, Inc., 9.25%, 12/31/2028 |  | 17087000 | 10081330 |
|  Dana, Inc., 5.63%, 06/15/2028 |  | 4287000 | 4314972 |
|  GE HealthCare Technologies, Inc., 5.60%, 11/15/2025 |  | 17994000 | 18033048 |
|  Gilead Sciences, Inc., 3.65%, 03/01/2026 |  | 8847000 | 8803933 |
|  HMH Holding BV/Amsterdam, 9.88%, 11/16/2026 <sup>(b)</sup> |  | 14906000 | 15387340 |
|  Jabil, Inc., 1.70%, 04/15/2026 |  | 10567000 | 10319382 |
|  Microchip Technology, Inc., 5.05%, 02/15/2030 |  | 11462000 | 11631274 |
|  Neptune Bidco AS, 11.11% (Norway Interbank Offered Rate Fixing 3 Month + 6.75%), 06/28/2028 | NOK | 55000000 | 4692740 |
|  Prosomnus Sleep Technologies, Inc., 8.00%, 12/31/2026 <sup>(c)</sup> |  | 6973349 | 5247445 |
|  Secop Group Holding GmbH, 10.38% (3 mo. EURIBOR + 8.40%), 12/29/2026 | EUR | 2561000 | 3084602 |
|  Sherwin-Williams Co., 3.95%, 01/15/2026 |  | 8847000 | 8817024 |
|  Sonoco Products Co., 4.45%, 09/01/2026 |  | 6466000 | 6460894 |
|  Stanley Black & Decker, Inc., 3.40%, 03/01/2026 |  | 11287000 | 11191094 |
|  Triumph Group, Inc., 9.00%, 03/15/2028 <sup>(a)</sup> |  | 15275000 | 15972166 |
|  Trulieve Cannabis Corp., 8.00%, 10/06/2026 |  | 5218000 | 5120267 |
|  Western Digital Corp., 4.75%, 02/15/2026 |  | 5228000 | 5219956 |
|  |  |  | 155341009 |
| **Mining, Quarrying, and Oil and Gas Extraction - 0.1%** | **Mining, Quarrying, and Oil and Gas Extraction - 0.1%** | **Mining, Quarrying, and Oil and Gas Extraction - 0.1%** | **Mining, Quarrying, and Oil and Gas Extraction - 0.1%** |
|  Tacora Resources, Inc., 13.00%, 12/31/2025 <sup>(a)(c)</sup> |  | 3892693 | 778539 |
| **Other Services (except Public Administration) - 1.5%** | **Other Services (except Public Administration) - 1.5%** | **Other Services (except Public Administration) - 1.5%** | **Other Services (except Public Administration) - 1.5%** |
|  WASH Multifamily Acquisition, Inc., 5.75%, 04/15/2026 <sup>(a)</sup> |  | 22046000 | 21982439 |
| **Professional, Scientific, and Technical Services - 6.1%** | **Professional, Scientific, and Technical Services - 6.1%** | **Professional, Scientific, and Technical Services - 6.1%** | **Professional, Scientific, and Technical Services - 6.1%** |
|  Charles River Laboratories International, Inc., 4.25%, 05/01/2028 <sup>(a)</sup> |  | 8397000 | 8149692 |
|  Gen Digital, Inc., 6.75%, 09/30/2027 <sup>(a)</sup> |  | 11720000 | 11935718 |
| Getty Images, Inc. | Getty Images, Inc. | Getty Images, Inc. | Getty Images, Inc. |
| &nbsp;&nbsp; 9.75%, 03/01/2027 <sup>(a)</sup> |  | 13369000 | 13112445 |
| &nbsp;&nbsp; 11.25%, 02/21/2030 <sup>(a)</sup> |  | 17976000 | 17856819 |
|  Go Daddy Operating Co. LLC, 5.25%, 12/01/2027 <sup>(a)</sup> |  | 17644000 | 17638555 |
|  Infor LLC, 1.75%, 07/15/2025 <sup>(a)</sup> |  | 6332000 | 6323314 |
|  Oracle Corp., 2.65%, 07/15/2026 |  | 13049000 | 12817295 |
|  VMware LLC, 1.40%, 08/15/2026 |  | 4061000 | 3928627 |
|  |  |  | 91762465 |
| **Real Estate and Rental and Leasing - 0.8%** | **Real Estate and Rental and Leasing - 0.8%** | **Real Estate and Rental and Leasing - 0.8%** | **Real Estate and Rental and Leasing - 0.8%** |
|  Williams Scotsman, Inc., 4.63%, 08/15/2028 <sup>(a)</sup> |  | 12934000 | 12714463 |
| **Technology - 1.4%** | **Technology - 1.4%** | **Technology - 1.4%** | **Technology - 1.4%** |
|  Hawk Infinity Software AS, 11.10% (Norway Interbank Offered Rate Fixing 3 Month + 6.50%), 10/15/2029 <sup>(a)</sup> | NOK | 71900000 | 7219556 |
|  Verve Group SE, 5.94% (3 mo. EURIBOR + 4.00%), 04/01/2029 <sup>(a)</sup> | EUR | 11312000 | 13258384 |
|  |  |  | 20477940 |
| **Transportation and Warehousing - 1.9%** | **Transportation and Warehousing - 1.9%** | **Transportation and Warehousing - 1.9%** | **Transportation and Warehousing - 1.9%** |
|  Uber Technologies, Inc., 7.50%, 09/15/2027 <sup>(a)</sup> |  | 11882000 | 11995798 |
|  XPO, Inc., 6.25%, 06/01/2028 <sup>(a)</sup> |  | 16727000 | 17004780 |
|  |  |  | 29000578 |
| **Utilities - 0.9%** | **Utilities - 0.9%** | **Utilities - 0.9%** | **Utilities - 0.9%** |
|  ONEOK, Inc., 4.25%, 09/24/2027 |  | 13261000 | 13243323 |
| **Wholesale Trade - 1.7%** | **Wholesale Trade - 1.7%** | **Wholesale Trade - 1.7%** | **Wholesale Trade - 1.7%** |
|  Performance Food Group, Inc., 5.50%, 10/15/2027 <sup>(a)</sup> |  | 20955000 | 20928840 |
|  TD Synnex Corp., 1.75%, 08/09/2026 |  | 5186000 | 5018447 |
|  |  |  | 25947287 |
| **TOTAL CORPORATE BONDS** (Cost $933,044,202) | **TOTAL CORPORATE BONDS** (Cost $933,044,202) | **TOTAL CORPORATE BONDS** (Cost $933,044,202) | 931803343 |
| **BANK LOANS - 12.2%** | **BANK LOANS - 12.2%** | **Par** | **Value** |
| **Communications - 3.6%** | **Communications - 3.6%** | **Communications - 3.6%** | **Communications - 3.6%** |
|  Cengage Learning, Inc., First Lien, 7.82% (1 mo. Term SOFR + 3.50%), 07/14/2026 |  | 6191293 | 6213334 |
|  CMG Media Corp., First Lien, 7.90% (3 mo. Term SOFR + 3.50%), 06/18/2029 |  | 36223275 | 35199424 |
|  Magnite, Inc., 7.33% (1 mo. Term SOFR + 3.00%), 02/06/2031 |  | 12508306 | 12563030 |
|  |  |  | 53975788 |
| **Consumer Discretionary - 1.6%** | **Consumer Discretionary - 1.6%** | **Consumer Discretionary - 1.6%** | **Consumer Discretionary - 1.6%** |
|  Bally's Corp., First Lien, 7.78% (3 mo. Term SOFR + 3.25%), 10/02/2028 |  | 12400000 | 11005000 |
|  Elevate Textiles, Inc., 12.95% (3 mo. Term SOFR + 8.65%), 09/30/2027 |  | 8651895 | 8680706 |
|  Everi Holdings, Inc., First Lien, 6.94% (1 mo. Term SOFR + 2.50%), 08/03/2028 |  | 5247000 | 5260878 |
|  |  |  | 24946584 |
| **Finance and Insurance - 1.6%** | **Finance and Insurance - 1.6%** | **Finance and Insurance - 1.6%** | **Finance and Insurance - 1.6%** |
|  Fiserv Investment T/L B, 8.32% (3 mo. Term SOFR + 4.00%), 02/18/2027 |  | 24098871 | 23888006 |
| **Manufacturing - 0.8%** | **Manufacturing - 0.8%** | **Manufacturing - 0.8%** | **Manufacturing - 0.8%** |
|  K&N Parent, Inc., 12.44% (3 mo. Term SOFR + 8.00%), 02/03/2027 |  | 11912286 | 11852725 |
| **Materials - 0.2%** | **Materials - 0.2%** | **Materials - 0.2%** | **Materials - 0.2%** |
|  Tosca Services LLC, 9.82% (1 mo. Term SOFR + 5.50%), 11/30/2025 |  | 3039082 | 3096065 |
| **Real Estate and Rental and Leasing - 1.8%** | **Real Estate and Rental and Leasing - 1.8%** | **Real Estate and Rental and Leasing - 1.8%** | **Real Estate and Rental and Leasing - 1.8%** |
|  Chicago Atlantic Real Estate Finance Term Loan, 9.00%, 10/17/2028 |  | 25349000 | 24968765 |
|  Micromont, 8.00%, 11/15/2026 |  | 1555205 | 1555205 |
|  |  |  | 26523970 |
| **Retail Trade - 0.9%** | **Retail Trade - 0.9%** | **Retail Trade - 0.9%** | **Retail Trade - 0.9%** |
|  The Container Store, Inc., 9.26% (6 mo. Term SOFR + 5.00%), 07/30/2029 |  | 4921365 | 2706751 |
|  The Container Store, Inc. Exit Loan, 10.83% (1 mo. Term SOFR + 5.50%), 04/30/2029 |  | 11651239 | 10952164 |
|  |  |  | 13658915 |
| **Technology - 1.0%** | **Technology - 1.0%** | **Technology - 1.0%** | **Technology - 1.0%** |
|  Dun & Bradstreet Corp., First Lien, 6.57% (1 mo. Term SOFR + 2.25%), 01/18/2029 |  | 15508887 | 15514702 |
| **Utilities - 0.7%** | **Utilities - 0.7%** | **Utilities - 0.7%** | **Utilities - 0.7%** |
|  Solaris Energy Infrastructure, 10.30% (3 mo. Term SOFR + 6.00%), 09/11/2029 |  | 10351000 | 10532143 |
| **TOTAL BANK LOANS** (Cost $184,908,880) | **TOTAL BANK LOANS** (Cost $184,908,880) | **TOTAL BANK LOANS** (Cost $184,908,880) | 183988898 |
| **ASSET-BACKED SECURITIES - 4.7%** | **ASSET-BACKED SECURITIES - 4.7%** | **Par** | **Value** |
| **Consumer Discretionary - 0.4%** | **Consumer Discretionary - 0.4%** | **Consumer Discretionary - 0.4%** | **Consumer Discretionary - 0.4%** |
|  United Airlines, Inc., Series A, 4.00%, 04/11/2026 |  | 6845027 | 6787344 |
| **Finance and Insurance - 2.1%** | **Finance and Insurance - 2.1%** | **Finance and Insurance - 2.1%** | **Finance and Insurance - 2.1%** |
|  Alterna Funding LLC, Series 2024-1A, Class A, 6.26%, 05/16/2039 <sup>(a)</sup> |  | 1946092 | 1965612 |
|  Coinstar Funding LLC, Series 2017-1A, Class A2, 5.22%, 04/25/2047 <sup>(a)</sup> |  | 21124120 | 19698453 |
| RAM LLC | RAM LLC | RAM LLC | RAM LLC |
| &nbsp;&nbsp; Series 2024-1, Class A, 6.67%, 02/15/2039 <sup>(a)</sup> |  | 2256972 | 2263793 |
| &nbsp;&nbsp; Series 2025-1, Class A, 5.45%, 05/15/2040 <sup>(a)</sup> |  | 8026017 | 8056415 |
|  |  |  | 31984273 |
| **Rental & Leasing Services - 0.7%** | **Rental & Leasing Services - 0.7%** | **Rental & Leasing Services - 0.7%** | **Rental & Leasing Services - 0.7%** |
|  Hertz Corp., Series 2025-1A, Class A, 4.91%, 09/25/2029 <sup>(a)</sup> |  | 10076000 | 10124321 |
| **Transportation and Warehousing - 1.5%** | **Transportation and Warehousing - 1.5%** | **Transportation and Warehousing - 1.5%** | **Transportation and Warehousing - 1.5%** |
|  Hawaiian Holdings, Inc., Series 2013-1, 3.90%, 01/15/2026 |  | 22905937 | 22447818 |
| **TOTAL ASSET-BACKED SECURITIES** (Cost $70,385,164) | **TOTAL ASSET-BACKED SECURITIES** (Cost $70,385,164) | **TOTAL ASSET-BACKED SECURITIES** (Cost $70,385,164) | 71343756 |
| **MORTGAGE-BACKED SECURITIES - 4.4%** | **MORTGAGE-BACKED SECURITIES - 4.4%** | **Par** | **Value** |
| **Finance and Insurance - 4.4%** | **Finance and Insurance - 4.4%** | **Finance and Insurance - 4.4%** | **Finance and Insurance - 4.4%** |
|  Banc of America Re-Remic Trust, Series 2022-DKLX, Class C, 6.46% (1 mo. Term SOFR + 2.15%), 01/15/2039 <sup>(a)</sup> |  | 3390015 | 3362277 |
| BX Trust | BX Trust | BX Trust | BX Trust |
| &nbsp;&nbsp; Series 2021-SOAR, Class A, 5.10% (1 mo. Term SOFR + 0.78%), 06/15/2038 <sup>(a)</sup> |  | 1884986 | 1884772 |
| &nbsp;&nbsp; Series 2021-SOAR, Class B, 5.30% (1 mo. Term SOFR + 0.98%), 06/15/2038 <sup>(a)</sup> |  | 6080177 | 6082924 |
| &nbsp;&nbsp; Series 2021-VOLT, Class B, 5.38% (1 mo. Term SOFR + 1.06%), 09/15/2036 <sup>(a)</sup> |  | 5435126 | 5415262 |
| &nbsp;&nbsp; Series 2021-VOLT, Class C, 5.53% (1 mo. Term SOFR + 1.21%), 09/15/2036 <sup>(a)</sup> |  | 4553492 | 4534269 |
| &nbsp;&nbsp; Series 2024-BIO, Class A, 5.95% (1 mo. Term SOFR + 1.64%), 02/15/2041 <sup>(a)</sup> |  | 4170000 | 4175625 |
| &nbsp;&nbsp; Series 2024-KING, Class A, 5.85% (1 mo. Term SOFR + 1.54%), 05/15/2034 <sup>(a)</sup> |  | 12296124 | 12312679 |
| &nbsp;&nbsp; Series 2024-KING, Class B, 6.05% (1 mo. Term SOFR + 1.74%), 05/15/2034 <sup>(a)</sup> |  | 2674787 | 2677203 |
| &nbsp;&nbsp; Series 2025-LUNR, Class A, 5.81% (1 mo. Term SOFR + 1.50%), 06/15/2040 <sup>(a)</sup> |  | 22350000 | 22412942 |
|  JP Morgan Chase Commercial Mortgage Securities, Series 2021-MHC, Class A, 5.48% (1 mo. Term SOFR + 1.16%), 04/15/2038 <sup>(a)</sup> |  | 3494963 | 3496695 |
| **TOTAL MORTGAGE-BACKED SECURITIES** (Cost $66,010,164) | **TOTAL MORTGAGE-BACKED SECURITIES** (Cost $66,010,164) | **TOTAL MORTGAGE-BACKED SECURITIES** (Cost $66,010,164) | 66354648 |
| **SPECIAL PURPOSE ACQUISITION COMPANIES (SPACS) - 2.2%** |  | **Shares** | **Value**  |
| Alpha Partners Technology Merger Corp. Founder Shares <sup>(f)</sup> |  | 9341 | 1590 |
| Charlton Aria Acquisition Corp. - Class A <sup>(f)</sup> |  | 115000 | 1182200 |
| Columbus Acquisition Corp. <sup>(f)</sup> |  | 118214 | 1196326 |
| Copley Acquisition Corp. <sup>(f)</sup> |  | 91000 | 919555 |
| Dynamix Corp. <sup>(f)</sup> |  | 597831 | 6091898 |
| IB Acquisition Corp. <sup>(f)</sup> |  | 90715 | 948879 |
| Kochav Defense Acquisition Corp. <sup>(f)</sup> |  | 275000 | 2798125 |
| Maywood Acquisition Corp. - Class A <sup>(f)</sup> |  | 350000 | 3545500 |
| Mercer Park Opportunities Corp. <sup>(f)</sup> |  | 817200 | 8417160 |
| Quartzsea Acquisition Corp. <sup>(f)</sup> |  | 130000 | 1306500 |
| Range Capital Acquisition Corp. <sup>(f)</sup> |  | 285700 | 2936996 |
| Translational Development Acquisition Corp. <sup>(f)</sup> |  | 348716 | 3591775 |
| **TOTAL SPECIAL PURPOSE ACQUISITION COMPANIES (SPACS)** (Cost $31,878,776) | **TOTAL SPECIAL PURPOSE ACQUISITION COMPANIES (SPACS)** (Cost $31,878,776) | **TOTAL SPECIAL PURPOSE ACQUISITION COMPANIES (SPACS)** (Cost $31,878,776) | 32936504 |
| **CONVERTIBLE BONDS - 0.7%** | **CONVERTIBLE BONDS - 0.7%** | **Par** | **Value** |
| **Accommodation and Food Services - 0.2%** | **Accommodation and Food Services - 0.2%** | **Accommodation and Food Services - 0.2%** | **Accommodation and Food Services - 0.2%** |
|  Braemar Hotels & Resorts, Inc., 4.50%, 06/01/2026 |  | 3150000 | 2953125 |
| **Information - 0.3%** | **Information - 0.3%** | **Information - 0.3%** | **Information - 0.3%** |
|  Go North Group AB, 0.00%, 12/31/2050 <sup>(c)(d)</sup> | SEK | 39553628 | 0 |
|  Leafly Holdings, Inc., 8.00%, 07/01/2025 <sup>(c)</sup> |  | 6339000 | 5388150 |
|  |  |  | 5388150 |
| **Manufacturing - 0.2%** | **Manufacturing - 0.2%** | **Manufacturing - 0.2%** | **Manufacturing - 0.2%** |
|  Array Technologies, Inc., 1.00%, 12/01/2028 |  | 3423000 | 2723652 |
| **TOTAL CONVERTIBLE BONDS** (Cost $12,075,339) | **TOTAL CONVERTIBLE BONDS** (Cost $12,075,339) | **TOTAL CONVERTIBLE BONDS** (Cost $12,075,339) | 11064927 |
| **PREFERRED STOCKS - 0.3%** |  | **Shares** | **Value**  |
| **Administrative and Support and Waste Management and Remediation Services - 0.3%** | **Administrative and Support and Waste Management and Remediation Services - 0.3%** | **Administrative and Support and Waste Management and Remediation Services - 0.3%** |  |
|  SWK Holdings Corp., 9.00%, 01/31/2027 |  | 152467 | 3880285 |
| **TOTAL PREFERRED STOCKS** (Cost $3,811,675) | **TOTAL PREFERRED STOCKS** (Cost $3,811,675) | **TOTAL PREFERRED STOCKS** (Cost $3,811,675) | 3880285 |
| **REAL ESTATE INVESTMENT TRUSTS - PREFERRED - 0.3%** |  | **Shares** | **Value**  |
| **Real Estate and Rental and Leasing - 0.3%** | **Real Estate and Rental and Leasing - 0.3%** | **Real Estate and Rental and Leasing - 0.3%** |  |
|  Gladstone Land Corp., Series D, 5.00%, 01/31/2026 |  | 150534 | 3727222 |
| **TOTAL REAL ESTATE INVESTMENT TRUSTS - PREFERRED** (Cost $3,603,551) | **TOTAL REAL ESTATE INVESTMENT TRUSTS - PREFERRED** (Cost $3,603,551) | **TOTAL REAL ESTATE INVESTMENT TRUSTS - PREFERRED** (Cost $3,603,551) | 3727222 |
| **MUNICIPAL BONDS - 0.1%** | **MUNICIPAL BONDS - 0.1%** | **Par** | **Value** |
| **New York - 0.1%** | **New York - 0.1%** | **New York - 0.1%** | **New York - 0.1%** |
|  New York State Dormitory Authority, 5.95%, 05/01/2035 (Obligor: Pace University) <sup>(g)</sup> |  | 2005000 | 2005000 |
| **TOTAL MUNICIPAL BONDS** (Cost $2,005,000) | **TOTAL MUNICIPAL BONDS** (Cost $2,005,000) | **TOTAL MUNICIPAL BONDS** (Cost $2,005,000) | 2005000 |
| **COMMON STOCKS - 0.1%** |  | **Shares** | **Value**  |
| **Manufacturing - 0.1%** | **Manufacturing - 0.1%** | **Manufacturing - 0.1%** |  |
| Cannabist Co. Holdings, Inc. <sup>(c)(f)</sup> |  | 4027595 | 0 |
| Cannabist Co. Holdings, Inc. <sup>(c)(f)</sup> |  | 4027595 | 0 |
| Diebold Nixdorf, Inc. <sup>(f)</sup> |  | 0<br> <sup>(h)</sup>  | 0<br> <sup>(h)</sup>  |
| Prosomnus Equity <sup>(c)(f)(i)</sup> |  | 996799 | 1200744 |
|  |  |  | 1200744 |
| **Retail Trade - 0.0%<sup>(j)</sup>** | **Retail Trade - 0.0%<sup>(j)</sup>** | **Retail Trade - 0.0%<sup>(j)</sup>** |  |
| The Container Store, Inc. <sup>(f)</sup> |  | 217314 | 54329 |
| **TOTAL COMMON STOCKS** (Cost $930,019) | **TOTAL COMMON STOCKS** (Cost $930,019) | **TOTAL COMMON STOCKS** (Cost $930,019) | 1255073 |
| **RIGHTS - 0.0%<sup>(j)</sup>** |  | **Shares** | **Value**  |
| **Finance and Insurance *-* 0.0%<sup>(j)</sup>** | **Finance and Insurance *-* 0.0%<sup>(j)</sup>** | **Finance and Insurance *-* 0.0%<sup>(j)</sup>** |  |
| Charlton Aria Acquisition Corp., Expires 12/31/2026, Exercise Price $10.00 <sup>(f)</sup> |  | 115000 | 21275 |
| **Manufacturing *-* 0.0%<sup>(j)</sup>** | **Manufacturing *-* 0.0%<sup>(j)</sup>** | **Manufacturing *-* 0.0%<sup>(j)</sup>** |  |
| Columbus Acquisition Corp., Expires 09/30/2025, Exercise Price $0.00 <sup>(f)</sup> |  | 150000 | 37950 |
| **TOTAL RIGHTS** (Cost $41,302) | **TOTAL RIGHTS** (Cost $41,302) | **TOTAL RIGHTS** (Cost $41,302) | 59225 |
| **WARRANTS - 0.0%<sup>(j)</sup>** |  | **Contracts** | **Value**  |
| **Information *-* 0.0%<sup>(j)</sup>** | **Information *-* 0.0%<sup>(j)</sup>** | **Information *-* 0.0%<sup>(j)</sup>** |  |
| Leafly Holdings, Inc., Expires 11/07/2026, Exercise Price $11.50 <sup>(f)</sup> |  | 36943 | 417 |
| **TOTAL WARRANTS** (Cost $0) | **TOTAL WARRANTS** (Cost $0) | **TOTAL WARRANTS** (Cost $0) | 417 |
| **SHORT-TERM INVESTMENTS - 17.3%** | **SHORT-TERM INVESTMENTS - 17.3%** |  | **Value**  |
| **Commercial Paper - 9.4%** |  |  **<u>Par</u>** |  |
| **Accommodation and Food Services — 0.7%** |  |  |  |
| The Campbells Company, 4.80%, 08/13/2025 <sup>(k)</sup> |  | 9911000 | 9854499 |
| **Health Care and Social Assistance — 1.8%** |  |  |  |
| CVS Health Corp., 4.23%, 07/08/2025 <sup>(k)</sup> |  | 27617000 | 27587207 |
| **Management of Companies and Enterprises — 1.1%** |  |  |  |
| Jabil, Inc., 4.46%, 07/09/2025 <sup>(k)</sup> |  | 16859000 | 16837606 |
| **Manufacturing — 1.9%** |  |  |  |
| Fortune Brands Innovations, Inc., 4.72%, 07/09/2025 <sup>(k)</sup> |  | 18020000 | 17999317 |
| Fortune Brands Innovations, Inc., 4.76%, 07/17/2025 <sup>(k)</sup> |  | 10812000 | 10788435 |
| **Real Estate and Rental and Leasing — 2.0%** |  |  |  |
| Crown Castle International Corp., 5.12%, 07/22/2025 <sup>(k)</sup> |  | 30043000 | 29951152 |
| **Wholesale Trade — 1.9%** |  |  |  |
| Genuine Parts Company, 4.69%, 07/09/2025 <sup>(k)</sup> |  | 28832000 | 28798835 |
| **Total Commercial Paper** (Cost $141,834,599) |  |  | 141817051 |
| **Money Market Funds - 7.5%** |  | **<u>Shares</u>** |  |
| First American Government Obligations Fund - Class X, 4.23% <sup>(l)</sup> |  | 31195489 | 31195489 |
| First American Treasury Obligations Fund - Class X, 4.22% <sup>(l)</sup> |  | 80950652 | 80950652 |
| **Total Money Market Funds** (Cost $112,146,141) |  |  | 112146141 |
| **U.S. Treasury Bills - 0.4%** |  |  **<u>Par</u>** |  |
| 4.17%, 10/02/2025 <sup>(k)</sup><br> **Total U.S. Treasury Bills** (Cost $5,205,646) |  | 5260000 | 5202664 |
| **TOTAL SHORT-TERM INVESTMENTS** (Cost $259,186,386) | **TOTAL SHORT-TERM INVESTMENTS** (Cost $259,186,386) | **TOTAL SHORT-TERM INVESTMENTS** (Cost $259,186,386) | 259165856 |
| **TOTAL INVESTMENTS - 104.3% (**Cost $1,567,880,458**)** | **TOTAL INVESTMENTS - 104.3% (**Cost $1,567,880,458**)** | **TOTAL INVESTMENTS - 104.3% (**Cost $1,567,880,458**)** | 1567585154 |
| Liabilities in Excess of Other Assets - (4.3)% | Liabilities in Excess of Other Assets - (4.3)% | Liabilities in Excess of Other Assets - (4.3)% | (64296737) |
| **TOTAL NET ASSETS - 100.0%** |  |  | $1503288417 |
| two | two | two | –% |
| Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. | –% |
| Par amount is in USD unless otherwise indicated. | Par amount is in USD unless otherwise indicated. | Par amount is in USD unless otherwise indicated. |  |

---

---

| |
|:---|
| EURIBOR - Euro Interbank Offered Rate |
| LLC - Limited Liability Company |
| LP - Limited Partnership |
| PIK - Payment in Kind |
| PLC - Public Limited Company |
| REMIC - Real Estate Mortgage Investment Conduit |
| SOFR - Secured Overnight Financing Rate<br> STIBOR – Stockholm Interbank Offered Rate |
| EUR - Euro |
| NOK - Norwegian Krone |
| SEK - Swedish Krona<br> USD – United States Dollar |

---

---

| | |
|:---|:---|
| (a) | Security is exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may only be resold in transactions exempt from registration to qualified institutional investors. As of June 30, 2025, the value of these securities total $604,491,963 or 40.2% of the Fund's net assets. |
| (b) | Step coupon bond. The rate disclosed is as of June 30, 2025. |
| (c) | Fair value determined using significant unobservable inputs in accordance with procedures established by and under the supervision of the Adviser, acting as Valuation Designee. These securities represented $12,618,191 or 0.8% of net assets as of June 30, 2025. |
| (d) | Zero coupon bonds make no periodic interest payments. |
| (e) | Security is currently in default. |
| (f) | Non-income producing security. |
| (g) | Coupon rate may be variable or floating based on components other than reference rate and spread. These securities may not indicate a reference rate and/or spread in their description. The rate disclosed is as of June 30, 2025. |
| (h) | Rounds to zero. |
| (i) | Privately held. |
| (j) | Represents less than 0.05% of net assets |
| (k)<br> (l) | The rate shown is the annualized effective yield as of June 30, 2025.<br> The rate shown represents the 7-day annualized effective yield as of June 30, 2025. |

---

------

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **CrossingBridge Low Duration High Income Fund** | **CrossingBridge Low Duration High Income Fund** | **CrossingBridge Low Duration High Income Fund** | **CrossingBridge Low Duration High Income Fund** | **CrossingBridge Low Duration High Income Fund** | **CrossingBridge Low Duration High Income Fund** | **CrossingBridge Low Duration High Income Fund** |
| **Schedule of Forward Currency Contracts** | **Schedule of Forward Currency Contracts** | **Schedule of Forward Currency Contracts** | **Schedule of Forward Currency Contracts** | **Schedule of Forward Currency Contracts** | **Schedule of Forward Currency Contracts** | **Schedule of Forward Currency Contracts** |
| **June 30, 2025 (Unaudited)** | **June 30, 2025 (Unaudited)** | **June 30, 2025 (Unaudited)** | **June 30, 2025 (Unaudited)** | **June 30, 2025 (Unaudited)** | **June 30, 2025 (Unaudited)** | **June 30, 2025 (Unaudited)** |
| **Counterparty** | **Settlement Date** | **Currency Purchased** | **Currency Purchased** | **Currency Sold** | **Currency Sold** | **Unrealized**<br> **Appreciation**<br> (Depreciation) |
| U.S. Bancorp Investments, Inc. | 07/15/2025 | SEK | 6100000 | USD | 636252 | $9172 |
| U.S. Bancorp Investments, Inc. | 07/15/2025 | USD | 93266784 | EUR | 83520000 | (5219465) |
| U.S. Bancorp Investments, Inc. | 07/15/2025 | USD | 18242681 | NOK | 190304000 | (639576) |
| U.S. Bancorp Investments, Inc. | 07/15/2025 | USD | 49838677 | SEK | 486575000 | (1644412) |
| **Net Unrealized Appreciation (Depreciation)** | **Net Unrealized Appreciation (Depreciation)** | **Net Unrealized Appreciation (Depreciation)** | **Net Unrealized Appreciation (Depreciation)** | **Net Unrealized Appreciation (Depreciation)** | **Net Unrealized Appreciation (Depreciation)** | $(7494281) |
| EUR - Euro | EUR - Euro | EUR - Euro | EUR - Euro | EUR - Euro | EUR - Euro | EUR - Euro |
| NOK - Norwegian Krone | NOK - Norwegian Krone | NOK - Norwegian Krone | NOK - Norwegian Krone | NOK - Norwegian Krone | NOK - Norwegian Krone | NOK - Norwegian Krone |
| SEK - Swedish Krona | SEK - Swedish Krona | SEK - Swedish Krona | SEK - Swedish Krona | SEK - Swedish Krona | SEK - Swedish Krona | SEK - Swedish Krona |
| USD - United States Dollar | USD - United States Dollar | USD - United States Dollar | USD - United States Dollar | USD - United States Dollar | USD - United States Dollar | USD - United States Dollar |

---

------

#### Summary of Fair Value Disclosure as of June 30, 2025 (Unaudited)
CrossingBridge Low Duration High Income Fund (the "Fund") has adopted fair value accounting standards which establish a definition of fair value and set out a hierarchy for measuring fair value. These standards require additional disclosures about the various inputs and valuation techniques used to develop the measurements of fair value, a discussion of changes in valuation techniques and related inputs during the period, and expanded disclosure of valuation levels for major security types. These inputs are summarized in the three broad levels listed below. The inputs or valuation methodology used for valuing securities are not an indication of the risk associated with investing in those securities.

Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access.

Level 2 - Observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates and similar data.

Level 3 - Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available, representing the Fund's own assumptions about the assumptions a market participant would use in valuing the asset or liability, and based on the best information available.

The following is a summary of the fair valuation hierarchy of the Fund's securities as of June 30, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **<u>Level 1</u>** | **<u>Level 2</u>** | **<u>Level 3</u>** | **<u>Total</u>** |
| **Assets:** | | | | |
| <u>Investments:</u> |  |  |  |  |
|  &nbsp;&nbsp;&nbsp;&nbsp;Corporate Bonds | – | 925774047 | 6029296 | 931803343 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Bank Loans | – | 183988898 | – | 183988898 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Asset-Backed Securities | – | 71343756 | – | 71343756 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Mortgage-Backed Securities | – | 66354648 | – | 66354648 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Special Purpose Acquisition Companies (SPACs) | 22649320 | 10287184 | – | 32936504 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Convertible Bonds | – | 5676777 | 5388150 | 11064927 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Preferred Stocks | 3880285 | – | – | 3880285 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Real Estate Investment Trusts - Preferred | 3727222 | – | – | 3727222 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Municipal Bonds | – | 2005000 | – | 2005000 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Common Stocks | 0<br> <sup>(a)</sup>  | 54329 | 1200744 | 1255073 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Rights | 37950 | 21275 | – | 59225 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Warrants | – | 417 | – | 417 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Commercial Paper | – | 141817051 | – | 141817051 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Money Market Funds | 112146141 | – | – | 112146141 |
|  &nbsp;&nbsp;&nbsp;&nbsp;U.S. Treasury Bills | – | 5202664 | – | 5202664 |
| Total Investments | 142440918 | 1412526046 | 12618190 | 1567585154 |
| <u>Other Financial Instruments:</u> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Forwards\* | – | 9172 | – | 9172 |
| Total Other Financial Instruments | – | 9172 | – | 9172 |
| **Liabilities:** |  |  |  |  |
| <u>Other Financial Instruments:</u> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Forwards\* | – | (7503453) | – | (7503453) |
| Total Other Financial Instruments | – | (7503453) | – | (7503453) |
| \* The fair value of the Fund's investment represents the unrealized appreciation (depreciation) as of June 30, 2025. | \* The fair value of the Fund's investment represents the unrealized appreciation (depreciation) as of June 30, 2025. | \* The fair value of the Fund's investment represents the unrealized appreciation (depreciation) as of June 30, 2025. | \* The fair value of the Fund's investment represents the unrealized appreciation (depreciation) as of June 30, 2025. | \* The fair value of the Fund's investment represents the unrealized appreciation (depreciation) as of June 30, 2025. |
| Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. |
| Changes in valuation techniques may result in transfers into or out of assigned levels within the fair value hierarchy. There were no transfers into or out of Level 3 during the reporting period as compared to the security classifications from the prior year's annual report. | Changes in valuation techniques may result in transfers into or out of assigned levels within the fair value hierarchy. There were no transfers into or out of Level 3 during the reporting period as compared to the security classifications from the prior year's annual report. | Changes in valuation techniques may result in transfers into or out of assigned levels within the fair value hierarchy. There were no transfers into or out of Level 3 during the reporting period as compared to the security classifications from the prior year's annual report. | Changes in valuation techniques may result in transfers into or out of assigned levels within the fair value hierarchy. There were no transfers into or out of Level 3 during the reporting period as compared to the security classifications from the prior year's annual report. | Changes in valuation techniques may result in transfers into or out of assigned levels within the fair value hierarchy. There were no transfers into or out of Level 3 during the reporting period as compared to the security classifications from the prior year's annual report. |

---

(a) Rounds to zero.

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| The following is a reconciliation of Level 3 assets in the Funds for which significant unobservable inputs were used to determine fair value: | The following is a reconciliation of Level 3 assets in the Funds for which significant unobservable inputs were used to determine fair value: | The following is a reconciliation of Level 3 assets in the Funds for which significant unobservable inputs were used to determine fair value: | The following is a reconciliation of Level 3 assets in the Funds for which significant unobservable inputs were used to determine fair value: | The following is a reconciliation of Level 3 assets in the Funds for which significant unobservable inputs were used to determine fair value: | The following is a reconciliation of Level 3 assets in the Funds for which significant unobservable inputs were used to determine fair value: |  |  |  |  |
| **<u>CrossingBridge Low Duration High Income Fund</u>** | **<u>Corporate Bonds</u>** | **<u>Bank Loans</u>** | **<u>Bank Loans</u>** | **<u>Special Purpose</u>**<br>  **<u>Acquisition Companies</u>** | **<u>Special Purpose</u>**<br>  **<u>Acquisition Companies</u>** | **<u>Convertible Bonds</u>** | **<u>Convertible Bonds</u>** | **<u>Common Stocks</u>** | **<u>Warrants</u>** |
| Beginning Balance - October 1, 2024 | 5858973 | $| 9021214 | $| 0 | $| 6158250 | $1544767 | $0 |
| Purchases | 645315 |  | - |  | - |  | - | - | - |
| Sales | - |  | (7466009) |  | - |  | (906000) | (328733) | (0) |
| Realized gains | - |  | - |  | - |  | - | 175834 | - |
| Realized losses | - |  | - |  | (76) |  | - | - | - |
| Accretion of discount/(amortization of premium) | 177080 |  | - |  | - |  | - | - | - |
| Change in unrealized appreciation/(depreciation) | (655385) |  | - |  | 76 |  | 135900 | (191124) | - |
| Transfer in/(out) of Level 3 | 3313 |  | (1555205) |  | - |  | - | - | - |
| Ending Balance - June 30, 2025 | 6029296 | $| - | $| - | $| 5388150 | $1200744 | $- |
| The total change in unrealized appreciation (depreciation) attributable to Level 3 investments still held at June 30, 2025, includes the following: | The total change in unrealized appreciation (depreciation) attributable to Level 3 investments still held at June 30, 2025, includes the following: | The total change in unrealized appreciation (depreciation) attributable to Level 3 investments still held at June 30, 2025, includes the following: | The total change in unrealized appreciation (depreciation) attributable to Level 3 investments still held at June 30, 2025, includes the following: | The total change in unrealized appreciation (depreciation) attributable to Level 3 investments still held at June 30, 2025, includes the following: | The total change in unrealized appreciation (depreciation) attributable to Level 3 investments still held at June 30, 2025, includes the following: |  |  |  |  |
|  | **<u>Corporate Bonds</u>** | **<u>Convertible Bonds</u>** | **<u>Convertible Bonds</u>** |  |  |  |  |  |  |
|  | (655385) | $| 135900 |  |  |  |  |  |  |
| To the extent the significant inputs are unobservable, the values generally would be categorized as Level 3 and "fair value" will be applied. Specifically, the matrix below | To the extent the significant inputs are unobservable, the values generally would be categorized as Level 3 and "fair value" will be applied. Specifically, the matrix below | To the extent the significant inputs are unobservable, the values generally would be categorized as Level 3 and "fair value" will be applied. Specifically, the matrix below | To the extent the significant inputs are unobservable, the values generally would be categorized as Level 3 and "fair value" will be applied. Specifically, the matrix below | To the extent the significant inputs are unobservable, the values generally would be categorized as Level 3 and "fair value" will be applied. Specifically, the matrix below | To the extent the significant inputs are unobservable, the values generally would be categorized as Level 3 and "fair value" will be applied. Specifically, the matrix below | To the extent the significant inputs are unobservable, the values generally would be categorized as Level 3 and "fair value" will be applied. Specifically, the matrix below | To the extent the significant inputs are unobservable, the values generally would be categorized as Level 3 and "fair value" will be applied. Specifically, the matrix below |  |  |
| provides a summary of the approach taken: |  |  |  |  |  |  |  |  |  |
| **<u>Type of Security</u>** |  **<u>Examples of Input</u>** |  |  |  |  |  |  |  |  |
| Bank Loans, Corporate Bonds, Convertible Bonds, and Warrants | Primarily based on financial analysis employing quantitative and qualitative inputs such as but may not be limited to: | Primarily based on financial analysis employing quantitative and qualitative inputs such as but may not be limited to: | Primarily based on financial analysis employing quantitative and qualitative inputs such as but may not be limited to: | Primarily based on financial analysis employing quantitative and qualitative inputs such as but may not be limited to: | Primarily based on financial analysis employing quantitative and qualitative inputs such as but may not be limited to: | Primarily based on financial analysis employing quantitative and qualitative inputs such as but may not be limited to: | Primarily based on financial analysis employing quantitative and qualitative inputs such as but may not be limited to: |  |  |
| Bank Loans, Corporate Bonds, Convertible Bonds, and Warrants | discounted cashflow, sum-of-the parts, competitive comparable valuations, and liquidation analysis | discounted cashflow, sum-of-the parts, competitive comparable valuations, and liquidation analysis | discounted cashflow, sum-of-the parts, competitive comparable valuations, and liquidation analysis | discounted cashflow, sum-of-the parts, competitive comparable valuations, and liquidation analysis | discounted cashflow, sum-of-the parts, competitive comparable valuations, and liquidation analysis | discounted cashflow, sum-of-the parts, competitive comparable valuations, and liquidation analysis | discounted cashflow, sum-of-the parts, competitive comparable valuations, and liquidation analysis |  |  |
| Special Purpose Acquisition Companies (SPACs); SPAC founders shares | Upon separation, value based on public warrant pricing. Prior to separation, valued at $0. | Upon separation, value based on public warrant pricing. Prior to separation, valued at $0. | Upon separation, value based on public warrant pricing. Prior to separation, valued at $0. | Upon separation, value based on public warrant pricing. Prior to separation, valued at $0. | Upon separation, value based on public warrant pricing. Prior to separation, valued at $0. |  |  |  |  |
| Special Purpose Acquisition Companies (SPACs); SPAC founders shares |  |  |  |  |  |  |  |  |  |
| Common Stock (Legended shares) | The firm applies a 25% discount to current market price for common stock with a legend attached to it. | The firm applies a 25% discount to current market price for common stock with a legend attached to it. | The firm applies a 25% discount to current market price for common stock with a legend attached to it. | The firm applies a 25% discount to current market price for common stock with a legend attached to it. | The firm applies a 25% discount to current market price for common stock with a legend attached to it. | The firm applies a 25% discount to current market price for common stock with a legend attached to it. | The firm applies a 25% discount to current market price for common stock with a legend attached to it. |  |  |
| The following table represents additional information about valuation methodologies and inputs used for investments that are measured at fair value and | The following table represents additional information about valuation methodologies and inputs used for investments that are measured at fair value and | The following table represents additional information about valuation methodologies and inputs used for investments that are measured at fair value and | The following table represents additional information about valuation methodologies and inputs used for investments that are measured at fair value and | The following table represents additional information about valuation methodologies and inputs used for investments that are measured at fair value and | The following table represents additional information about valuation methodologies and inputs used for investments that are measured at fair value and |  |  |  |  |
| categorized within Level 3 as of June 30, 2025: |  |  |  |  |  |  |  |  |  |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **CrossingBridge Low Duration High Income Fund** |  |  |  |  |  |  |
| **Descriptions** | **Fair Value June 30, 2025** | **Valuation Techniques** | **Unobservable Input** | **Range of Input** | **Weighted Average Unobservable Input** | **Impact to Valuation from**<br> **an Increase in Input** |
| Corporate Bonds | $6029296 | Market Approach | Yield to maturity | 20.80% | 20.80% | Decrease |
|  |  |  | Implied coupon rate | 0% | 0 | Increase |
|  |  |  | Recoverable value | $20 | $20 | Increase |
|  |  |  | Transaction price | N/A | N/A | Increase |
| Convertible Bonds | $5388150 | Market Approach | Yield to maturity | 61.80% | 61.80% | Decrease |
|  |  |  | Transaction price | N/A | N/A | Increase |
| Common Stocks | $1200744 | Market Approach | Enterprise Value | $1.42 | $1.42 | Increase |
|  |  |  | Discount | 15.00% | 15.00% | Decrease |
|  |  |  | Transaction price | N/A | N/A | Increase |

---

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Trust for Professional Managers

- **b. Investment Company Act file number:** 811-10401

- **c. CIK number of Registrant:** 0001141819

- **d. LEI of Registrant:** 549300O1N816L3GGRD45

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

  - **Street Address 1:** 615 East Michigan Street

  - **City:** Milwaukee

  - **State:** WI

  - **Foreign country:** US

  - **Zip / Postal Code:** 53202

  - **Telephone number:** 513-520-5925

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

- **a. Name of Series:** CrossingBridge Low Duration High Income Fund

- **b. EDGAR series identifier (if any):** S000060190

- **c. LEI of Series:** 549300HPEEU2DRMQCR25

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

- **a. Date of fiscal year-end:** 2025-09-30

- **b. Date as of which information is reported:** 2025-06-30

**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:** $1585276671.47

**Total Liabilities:** $84881106.48

**Net Assets:** $1500395564.99

**Delayed Delivery Securities:** $29813135.28

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 10724.041918000000 | **1-Year:** 14814.447389000000 | **5-Year:** 10167.617881000000 | **10-Year:** 0.000000000000 | **30-Year:** 0.000000000000

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

- **3-Month:** 68118.376923000000 | **1-Year:** 41362.815482000000 | **5-Year:** 22099.996447000000 | **10-Year:** 0.000000000000 | **30-Year:** 0.000000000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000196992 | 0.04%                | 1.01%                | 0.71%                |
| Class ID C000196993 | 0.05%                | 1.03%                | 0.73%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $363449.36               | $722687.54                                 |
| Month 2  | $2551056.97              | $5822187.97                                |
| Month 3  | $-1099904.94             | $8434151.28                                |

**Designated Index Information**

- **Index Name:** N/A

- **Index Identifier:** N/A

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| UNITED AIR 2014-1 A PTT                            | United Airlines 2014-1 Class A Pass Through Trust             | CUSIP: 90932PAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   6845027 | PA      | $6787344.33   | 0.45%             | 2026-04-11      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TWMA FINANCE AS                                    | Twma Finance AS                                               | CUSIP: ZF3988861<br>LEI: 894500BICEAQTNG2A469 | Long             | DBT              | CORP              | NO        |   3369000 | PA      | $3503760.00   | 0.23%             | 2027-02-08      | Fixed         | 13.00%                | No            |                  2 | On Loan: No      |
| BX Trust                                           | BX Commercial Mortgage Trust 2024-KING                        | CUSIP: 05612RAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  12296124 | PA      | $12312679.36  | 0.82%             | 2034-05-15      | Floating      | 5.85%                 | No            |                  2 | On Loan: No      |
| CVS HEALTH CORP                                    | CVS HEALTH CORP                                               | CUSIP: 12665JU80<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |  27617000 | PA      | $27587206.78  | 1.84%             | 2025-07-08      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Diebold Nixdorf Inc                                | Diebold Nixdorf Inc                                           | CUSIP: 253651202<br>LEI: 549300XZK6EWDBAZSY16 | Long             | EC               | CORP              | US        |         0 | NS      | $0.02         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Treasury Obliga                     | First American Treasury Obligations Fund                      | CUSIP: 31846V328<br>LEI: 549300UU586IAH2B8H03 | Long             | STIV             | RF                | US        |  80950652 | NS      | $80950652.37  | 5.40%             |  |  |  | No            |                  1 | On Loan: No      |
| FORTUNE BRANDS INNOVATIONS INC                     | FORTUNE BRANDS INNOVATIONS INC                                | CUSIP: 34965GU95<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |  18020000 | PA      | $17999316.64  | 1.20%             | 2025-07-09      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| GETTY IMAGES INC                                   | Getty Images Inc                                              | CUSIP: 374276AJ2<br>LEI: 5493005NV20IG4VEKZ40 | Long             | DBT              | CORP              | US        |  13369000 | PA      | $13112444.88  | 0.87%             | 2027-03-01      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| GO DADDY OPCO/FINCO                                | Go Daddy Operating Co LLC / GD Finance Co Inc                 | CUSIP: 38016LAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  17644000 | PA      | $17638555.06  | 1.18%             | 2027-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| GRUBHUB HOLDINGS INC                               | GrubHub Holdings Inc                                          | CUSIP: 40010PAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  25771000 | PA      | $25035441.54  | 1.67%             | 2027-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Hertz Vehicle Financing LLC                        | Hertz Vehicle Financing III LLC                               | CUSIP: 42806MCT4<br>LEI: 549300MNOMKDMDFI8J66 | Long             | ABS-O            | CORP              | US        |  10076000 | PA      | $10124320.47  | 0.67%             | 2029-09-25      | Fixed         | 4.91%                 | No            |                  2 | On Loan: No      |
| IB Acquisition Corp                                | IB Acquisition Corp                                           | CUSIP: 44934N108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     90715 | NS      | $948878.90    | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Iron Horse Acquisitions Corp                       | Iron Horse Acquisitions Corp                                  | CUSIP: 462837105<br>LEI: 5493000JDZP9ZR3A1A41 | Long             | EC               | CORP              | US        |     97300 | NS      | $1024569.00   | 0.07%             |  |  |  | No            |                  3 | On Loan: No      |
| JABIL INC                                          | Jabil Inc                                                     | CUSIP: 466313AL7<br>LEI: 5493000CGCQY2OQU7669 | Long             | DBT              | CORP              | US        |  10567000 | PA      | $10319381.69  | 0.69%             | 2026-04-15      | Fixed         | 1.70%                 | No            |                  2 | On Loan: No      |
| JP Morgan Chase Commercial Mor                     | JP Morgan Chase Commercial Mortgage Securities Trust 2021-MHC | CUSIP: 466330AA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3494963 | PA      | $3496694.86   | 0.23%             | 2038-04-15      | Floating      | 5.48%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                                        | Oracle Corp                                                   | CUSIP: 68389XBM6<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |  13049000 | PA      | $12817294.91  | 0.85%             | 2026-07-15      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| PERFORMANCE FOOD GROUP I                           | Performance Food Group Inc                                    | CUSIP: 69346VAA7<br>LEI: 549300OMUOGBYK0FFO76 | Long             | DBT              | CORP              | US        |  20955000 | PA      | $20928840.20  | 1.39%             | 2027-10-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| RAM LLC                                            | RAM 2024-1 LLC                                                | CUSIP: 751313AA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2256972 | PA      | $2263793.02   | 0.15%             | 2039-02-15      | Fixed         | 6.67%                 | No            |                  2 | On Loan: No      |
| SWK HOLDINGS CORP                                  | SWK Holdings Corp                                             | CUSIP: 78501P302<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    152467 | NS      | $3880285.15   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| SHERWIN-WILLIAMS CO                                | Sherwin-Williams Co/The                                       | CUSIP: 824348BF2<br>LEI: Z15BMIOX8DDH0X2OBP21 | Long             | DBT              | CORP              | US        |   8847000 | PA      | $8817024.42   | 0.59%             | 2026-01-15      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| TRULIEVE CANNABIS CORP                             | Trulieve Cannabis Corp                                        | CUSIP: 89788CAD6<br>LEI: 549300122MBOJDGEZ014 | Long             | DBT              | CORP              | CA        |   5218000 | PA      | $5120266.86   | 0.34%             | 2026-10-06      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| TREASURY BILL                                      | United States Treasury Bill                                   | CUSIP: 912797MS3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   5260000 | PA      | $5202664.00   | 0.35%             | 2025-10-02      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Mercer Park Opportunities Corp                     | Mercer Park Opportunities Corp                                | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | KY        |    817200 | NS      | $8417160.00   | 0.56%             |  |  |  | No            |                  2 | On Loan: No      |
| GO NORTH GROUP AB 0% BDS PERP SEK1                 | GO NORTH GROUP AB 0% BDS PERP SEK1                            | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | SE        |    482169 | PA      | $3312.69      | 0.00%             | 2026-02-09      | Fixed         | 0.00%                 | No            |                  3 | On Loan: No      |
| MUTARES SE & CO                                    | Mutares SE & Co KGaA                                          | CUSIP: ZL6690784<br>LEI: 391200NWMO6NLQFSCU64 | Long             | DBT              | CORP              | DE        |   2000000 | PA      | $2401142.38   | 0.16%             | 2027-03-31      | Floating      | 10.48%                | No            |                  2 | On Loan: No      |
| Columbus Acquisition Corp                          | Columbus Acquisition Corp                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | SG        |    150000 | NS      | $37950.00     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Dynamix Corp                                       | Dynamix Corp                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    597831 | NS      | $6091897.89   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Maywood Acquisition Corp                           | Maywood Acquisition Corp                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    350000 | NS      | $3545500.00   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| KANDN PARENT INC PRIORITY EXIT FACILITY S+800 2/3/ | KANDN PARENT INC PRIORITY EXIT FACILITY S+800 2/3/            | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |  11912286 | PA      | $11852724.69  | 0.79%             | 2027-02-03      | Floating      | 12.31%                | No            |                  3 | On Loan: No      |
| ELEVATE TEXTILES INC                               | Elevate Textiles Inc                                          | CUSIP: 28622DAD2<br>LEI: M4ZRS7E9USM0DKM0N876 | Long             | LON              | CORP              | US        |   8651895 | PA      | $8680705.81   | 0.58%             | 2027-09-30      | Floating      | 12.95%                | No            |                  2 | On Loan: No      |
| DUN & BRADSTREET CORP                              | Dun & Bradstreet Corp/The                                     | CUSIP: 26483NAW0<br>LEI: RI37BMPWE56BCJ747E14 | Long             | LON              | CORP              | US        |  15508887 | PA      | $15514702.48  | 1.03%             | 2029-01-18      | Floating      | 6.57%                 | No            |                  2 | On Loan: No      |
| MAGNITE INC                                        | Magnite Inc                                                   | CUSIP: 55955NAG3<br>LEI: 54930018FR2YX1HHSB02 | Long             | LON              | CORP              | US        |  12508306 | PA      | $12563029.70  | 0.84%             | 2031-02-06      | Floating      | 7.33%                 | No            |                  2 | On Loan: No      |
| GO NORTH GROUP AB FRN GTD 02/2026 USD1 'REGS'      | GO NORTH GROUP AB FRN GTD 02/2026 USD1 'REGS'                 | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | SE        |   2950951 | PA      | $118038.04    | 0.01%             | 2026-02-09      | Floating      | 13.32%                | No            |                  2 | On Loan: No      |
| HMH HOLDING BV                                     | HMH Holding BV/Amsterdam                                      | CUSIP: ZH9043394<br>LEI: 8945008FRZIYPW0VW366 | Long             | DBT              | CORP              | NL        |  14906000 | PA      | $15387340.08  | 1.03%             | 2026-11-16      | Fixed         | 9.88%                 | No            |                  2 | On Loan: No      |
| GENTOO MEDIA PLC                                   | Gentoo Media PLC                                              | CUSIP: ZG5462731<br>LEI: 213800UCC6GA967UCS06 | Long             | DBT              | CORP              | MT        |  28175000 | PA      | $3048775.09   | 0.20%             | 2026-12-18      | Floating      | 9.42%                 | No            |                  2 | On Loan: No      |
| NEPTUNE BIDCO AS                                   | Neptune Bidco AS                                              | CUSIP: YX5577250<br>LEI: 894500UKQX0AV0XVNV14 | Long             | DBT              | CORP              | NO        |  55000000 | PA      | $4692739.65   | 0.31%             | 2028-06-28      | Floating      | 11.11%                | No            |                  2 | On Loan: No      |
| Go North Group AB                                  | Go North Group AB                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | SE        |    197442 | PA      | $0.00         | 0.00%             | 2026-02-09      | Variable      | 0.00%                 | No            |                  3 | On Loan: No      |
| FORMYCON AG                                        | Formycon AG                                                   | CUSIP: YN7703302<br>LEI: 39120005TZ76GQOY8Z19 | Long             | DBT              | CORP              | DE        |  12188000 | PA      | $14428680.81  | 0.96%             | 2029-07-09      | Floating      | 8.94%                 | No            |                  2 | On Loan: No      |
| MAGLE CHEMOSWED HOLD                               | Magle Chemoswed Holding AB                                    | CUSIP: YN4178466<br>LEI: 549300FNJZS6NGFB6M31 | Long             | DBT              | CORP              | SE        | 117500000 | PA      | $12046951.14  | 0.80%             | 2028-07-04      | Floating      | 8.66%                 | No            |                  2 | On Loan: No      |
| N/A                                                | SEK/USD FWD 20250715                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $-1644411.90  | -0.11%            |  |  |  | No            |                  2 | On Loan: No      |
| FORUM ENERGY TECHNOLOGIE                           | Forum Energy Technologies Inc                                 | CUSIP: YU7565416<br>LEI: 549300SF93HLCR1REE27 | Long             | DBT              | CORP              | US        |  17250000 | PA      | $17591725.35  | 1.17%             | 2029-11-07      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| Alterna Funding LLC                                | Alterna Funding III LLC                                       | CUSIP: 02157JAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1946092 | PA      | $1965612.25   | 0.13%             | 2039-05-16      | Fixed         | 6.26%                 | No            |                  2 | On Loan: No      |
| BX Trust                                           | BX Trust 2024-BIO                                             | CUSIP: 05612AAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4170000 | PA      | $4175625.33   | 0.28%             | 2041-02-15      | Floating      | 5.95%                 | No            |                  2 | On Loan: No      |
| COMPASS GROUP DIVERSIFIE                           | Compass Group Diversified Holdings LLC                        | CUSIP: 20451RAB8<br>LEI: 549300I6PTUQPX21TE93 | Long             | DBT              | CORP              | US        |   8261000 | PA      | $7422132.62   | 0.49%             | 2029-04-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| TACORA RESOURCES INC                               | Tacora Resources Inc                                          | CUSIP: 87356LAC4<br>LEI: 549300L67A19OXSFBA84 | Long             | DBT              | CORP              | CA        |   3892693 | PA      | $778538.60    | 0.05%             | 2025-12-31      | None          | 13.00%                | No            |                  3 | On Loan: No      |
| TRIUMPH GROUP INC                                  | Triumph Group Inc                                             | CUSIP: 896818AU5<br>LEI: 5493007L6S47Q14SL582 | Long             | DBT              | CORP              | US        |  15275000 | PA      | $15972166.28  | 1.06%             | 2028-03-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| WASH MULTIFAM ACQ INC                              | WASH Multifamily Acquisition Inc                              | CUSIP: 93710WAA3<br>LEI: 549300AS7PRY5PHG6L12 | Long             | DBT              | CORP              | US        |  22046000 | PA      | $21982439.18  | 1.47%             | 2026-04-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| XPO INC                                            | XPO Inc                                                       | CUSIP: 98379KAA0<br>LEI: 54930096DB9LCLPN7H13 | Long             | DBT              | CORP              | US        |  16727000 | PA      | $17004779.77  | 1.13%             | 2028-06-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| CONTAINER STORE                                    | Container Store Inc/The                                       | CUSIP: 21075BAQ4<br>LEI: RU4H3CU9QRX4TIC35822 | Long             | LON              | CORP              | US        |   4921365 | PA      | $2706750.75   | 0.18%             | 2029-07-30      | Floating      | 9.26%                 | No            |                  2 | On Loan: No      |
| Chicago Atlantic Real Estate Finance Term Loan     | Chicago Atlantic Real Estate Finance Term Loan                | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |  25349000 | PA      | $24968765.00  | 1.66%             | 2028-10-17      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Quartzsea Acquisition Corp                         | Quartzsea Acquisition Corp                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    130000 | NS      | $1306500.00   | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Charlton Aria Acquisition Corp                     | Charlton Aria Acquisition Corp                                | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    115000 | NS      | $1182200.00   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| AZERION GROUP NV                                   | Azerion Group N.V.                                            | CUSIP: ZI6849254<br>LEI: 7245007RB3M5PMWY6N86 | Long             | DBT              | CORP              | NL        |  17561000 | PA      | $20634324.97  | 1.38%             | 2026-10-02      | Floating      | 9.09%                 | No            |                  2 | On Loan: No      |
| TCSHO                                              | TCSHO                                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    217314 | NS      | $54328.50     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| BX Trust                                           | BX Commercial Mortgage Trust 2021-SOAR                        | CUSIP: 05608WAG9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   6080177 | PA      | $6082923.73   | 0.41%             | 2038-06-15      | Floating      | 5.30%                 | No            |                  2 | On Loan: No      |
| CANNABIST CO HLDGS INC COM                         | CANNABIST CO HLDGS INC COM                                    | CUSIP: 13765Y509<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |   4027595 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| GETTY IMAGES INC                                   | Getty Images Inc                                              | CUSIP: 374276AM5<br>LEI: 5493005NV20IG4VEKZ40 | Long             | DBT              | CORP              | US        |  17976000 | PA      | $17856819.12  | 1.19%             | 2030-02-21      | Fixed         | 11.25%                | No            |                  2 | On Loan: No      |
| GLADSTONE LAND CORP                                | Gladstone Land Corp                                           | CUSIP: 376549507<br>LEI: 54930002B3Q17H38FG74 | Long             | EP               | CORP              | US        |    150085 | NS      | $3716104.60   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| HAWAIIAN AIRLINES 13-1A                            | Hawaiian Airlines 2013-1 Class A Pass Through Certificates    | CUSIP: 419838AA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  22905937 | PA      | $22447818.42  | 1.50%             | 2026-01-15      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| PRIME SECSRVC BRW/FINANC                           | Prime Security Services Borrower LLC / Prime Finance Inc      | CUSIP: 74166MAC0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  12840000 | PA      | $12919134.85  | 0.86%             | 2026-04-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| RAM LLC                                            | RAM 2025-1 LLC                                                | CUSIP: 748950AA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   8026017 | PA      | $8056414.93   | 0.54%             | 2040-05-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| PLUM ACQUISITION CORP III                          | Plum Acquisition Corp III                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |      9341 | NS      | $1590.31      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                                | EUR/USD FWD 20250715                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $-5219464.68  | -0.35%            |  |  |  | No            |                  2 | On Loan: No      |
| Columbus Acquisition Corp                          | Columbus Acquisition Corp                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | SG        |    118214 | NS      | $1196325.68   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Charlton Aria Acquisition Corp                     | Charlton Aria Acquisition Corp                                | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    115000 | NS      | $21275.00     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| EVERI HOLDINGS INC                                 | Everi Holdings Inc                                            | CUSIP: 30034UAC4<br>LEI: 5299006DK5S7BG10K532 | Long             | LON              | CORP              | US        |   5247000 | PA      | $5260878.32   | 0.35%             | 2028-08-03      | Floating      | 6.94%                 | No            |                  2 | On Loan: No      |
| Micromont                                          | Micromont                                                     | CUSIP: N/A<br>LEI: N/A                        | Long             | LON              | CORP              | US        |   1555205 | PA      | $1555204.72   | 0.10%             | 2026-11-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| IMPALA GROUP PLC                                   | Impala BondCo PLC                                             | CUSIP: BR8492349<br>LEI: 549300H2NW5AUSWVQK84 | Long             | DBT              | CORP              | GB        |  13491397 | PA      | $891260.15    | 0.06%             | 2027-10-30      | None          | 12.00%                | No            |                  2 | On Loan: No      |
| N/A                                                | NOK/USD FWD 20250715                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $-639576.13   | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| GO NORTH GROUP AB                                  | Go North Group AB                                             | CUSIP: YX9284390<br>LEI: 636700UB68QRCB53V204 | Long             | DBT              | CORP              | SE        |  39553628 | PA      | $0.00         | 0.00%             | 2050-12-31      | Fixed         | 0.00%                 | No            |                  3 | On Loan: No      |
| CONSOLIDATED COMMUNICATI                           | Consolidated Communications Inc                               | CUSIP: 20903XAH6<br>LEI: 549300WW675Y48HDVX34 | Long             | DBT              | CORP              | US        |  10093000 | PA      | $10205892.22  | 0.68%             | 2028-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CROWN CASTLE INTL CORP                             | CROWN CASTLE INTL CORP                                        | CUSIP: 22823PUN1<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |  30043000 | PA      | $29951152.54  | 2.00%             | 2025-07-22      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| FIVE POINT OP CO LP/FIVE                           | Five Point Operating Co LP / Five Point Capital Corp          | CUSIP: 33834YAB4<br>LEI: N/A                  | Long             | SN               | CORP              | US        |   4776361 | PA      | $4862664.64   | 0.32%             | 2028-01-15      | Variable      | 10.50%                | No            |                  2 | On Loan: No      |
| GE HEALTHCARE TECH INC                             | GE HealthCare Technologies Inc                                | CUSIP: 36267VAD5<br>LEI: 549300OI9J7XOWZMUN85 | Long             | DBT              | CORP              | US        |  17994000 | PA      | $18033048.06  | 1.20%             | 2025-11-15      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| GENUINE PTS CO DISC COML PAPER                     | GENUINE PTS CO DISC COML PAPER                                | CUSIP: 37255FU99<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |  28832000 | PA      | $28798834.55  | 1.92%             | 2025-07-09      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| BX Trust                                           | BX Commercial Mortgage Trust 2021-VOLT                        | CUSIP: 05609VAG0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   5435126 | PA      | $5415262.57   | 0.36%             | 2036-09-15      | Floating      | 5.38%                 | No            |                  2 | On Loan: No      |
| BORAS V-TYGET 1 AB                                 | Boras V-tyget 1 AB                                            | CUSIP: YU6065111<br>LEI: N/A                  | Long             | DBT              | CORP              | SE        | 165900000 | PA      | $17886036.21  | 1.19%             | 2027-04-29      | Floating      | 8.05%                 | No            |                  2 | On Loan: No      |
| ARRAY TECHNOLOGIES INC                             | Array Technologies Inc                                        | CUSIP: 04271TAB6<br>LEI: 549300JM5FECYJQ85V37 | Long             | DBT              | CORP              | US        |   3423000 | PA      | $2723651.63   | 0.18%             | 2028-12-01      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| DANA INC                                           | Dana Inc                                                      | CUSIP: 235825AG1<br>LEI: KVWHW7YLZPFJM8QYNJ51 | Long             | DBT              | CORP              | US        |   4287000 | PA      | $4314971.65   | 0.29%             | 2028-06-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| BOOSTER PRECISION COMPON                           | Booster Precision Components GmbH                             | CUSIP: ZN5041423<br>LEI: 213800B5BEW3DGUVHO57 | Long             | DBT              | CORP              | DE        |   1871000 | PA      | $2085329.48   | 0.14%             | 2026-11-28      | Floating      | 11.04%                | No            |                  2 | On Loan: No      |
| Copley Acquisition Corp                            | Copley Acquisition Corp                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | HK        |     91000 | NS      | $919555.00    | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| BALLY'S CORP                                       | Bally's Corp                                                  | CUSIP: 05875CAB0<br>LEI: 549300NS4D5IK406VT62 | Long             | LON              | CORP              | US        |  12400000 | PA      | $11005000.00  | 0.73%             | 2028-10-02      | Floating      | 7.80%                 | No            |                  2 | On Loan: No      |
| HCA INC                                            | HCA Inc                                                       | CUSIP: 404119BT5<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |   4933000 | PA      | $4940180.13   | 0.33%             | 2026-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| INTERNATIONAL GAME TECH                            | International Game Technology PLC                             | CUSIP: 460599AF0<br>LEI: 549300UQ6KHRCZDRGZ76 | Long             | DBT              | CORP              | GB        |   8884000 | PA      | $8884787.12   | 0.59%             | 2026-04-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| NOVEDO HOLDINGS AB                                 | Novedo Holding AB                                             | CUSIP: YV5581777<br>LEI: 984500F0A56FIF3C6091 | Long             | DBT              | CORP              | SE        |  56250000 | PA      | $5915795.54   | 0.39%             | 2027-09-23      | Floating      | 9.15%                 | No            |                  2 | On Loan: No      |
| SEAPEAK LLC                                        | Seapeak LLC                                                   | CUSIP: ZO0985614<br>LEI: 549300CP38L0UER0I397 | Long             | DBT              | CORP              | MH        |  25000000 | PA      | $2499733.37   | 0.17%             | 2025-09-02      | Floating      | 9.79%                 | No            |                  2 | On Loan: No      |
| GO NORTH GROUP AB                                  | Go North Group AB                                             | CUSIP: ZD5873868<br>LEI: 636700UB68QRCB53V204 | Long             | DBT              | CORP              | SE        |   7610942 | PA      | $4186018.10   | 0.28%             | 2026-02-09      | None          | 10.15%                | No            |                  2 | On Loan: No      |
| ABBVIE INC                                         | AbbVie Inc                                                    | CUSIP: 00287YBV0<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | DBT              | CORP              | US        |   8400000 | PA      | $8263133.09   | 0.55%             | 2026-11-21      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| CANNABIST CO HLDGS INC                             | Cannabist Co Holdings Inc/The                                 | CUSIP: 13766HAA7<br>LEI: 9845007B45659F4F4F75 | Long             | DBT              | CORP              | CA        |  17087000 | PA      | $10081330.00  | 0.67%             | 2028-12-31      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| Coinstar Funding, LLC                              | Coinstar Funding LLC Series 2017-1                            | CUSIP: 19260MAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |  21124120 | PA      | $19698453.14  | 1.31%             | 2047-04-25      | Fixed         | 5.22%                 | No            |                  2 | On Loan: No      |
| FAIR ISAAC CORP                                    | Fair Isaac Corp                                               | CUSIP: 303250AE4<br>LEI: RI6HET5SJUEY30V1PS26 | Long             | DBT              | CORP              | US        |  10075000 | PA      | $10088248.63  | 0.67%             | 2026-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| FORTUNE BRANDS INNOVATIONS INC                     | FORTUNE BRANDS INNOVATIONS INC                                | CUSIP: 34965GUH7<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |  10812000 | PA      | $10788435.25  | 0.72%             | 2025-07-17      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| GCI LLC                                            | GCI LLC                                                       | CUSIP: 36166TAB6<br>LEI: 549300N3IE9H88Q20221 | Long             | DBT              | CORP              | US        |  14741000 | PA      | $14261734.42  | 0.95%             | 2028-10-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| GO NORTH GROUP AB 0% BDS PERP USD1                 | GO NORTH GROUP AB 0% BDS PERP USD1                            | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | US        |    470994 | PA      | $0.00         | 0.00%             | 2026-02-09      | Fixed         | 0.00%                 | No            |                  3 | On Loan: No      |
| TK ELEVATOR HOLDCO GMBH                            | TK Elevator Holdco GmbH                                       | CUSIP: 92537VAA8<br>LEI: 2549008GCHWX9EEMIS56 | Long             | DBT              | CORP              | DE        |   2849000 | PA      | $2854022.96   | 0.19%             | 2028-07-15      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| GO NORTH GROUP AB                                  | Go North Group AB                                             | CUSIP: ZD4139261<br>LEI: 636700UB68QRCB53V204 | Long             | DBT              | CORP              | SE        |   5884691 | PA      | $0.00         | 0.00%             | 2028-02-02      | Fixed         | 15.00%                | No            |                  3 | On Loan: No      |
| Go North Group AB                                  | Go North Group AB                                             | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | SE        |    188328 | PA      | $0.00         | 0.00%             | 2026-02-09      | Variable      | 0.00%                 | No            |                  3 | On Loan: No      |
| CABONLINE GROUP HOLD                               | Cabonline Group Holding AB                                    | CUSIP: ZH5209213<br>LEI: 549300PB67LZ38PTO750 | Long             | DBT              | CORP              | SE        |  77770274 | PA      | $7942746.17   | 0.53%             | 2028-03-19      | None          | 12.00%                | No            |                  2 | On Loan: No      |
| PAPA JOHN'S INTERNATIONA                           | Papa John's International Inc                                 | CUSIP: 698813AA0<br>LEI: HZYLD3DK5XOX0WBVNB56 | Long             | DBT              | CORP              | US        |   6552000 | PA      | $6385041.28   | 0.43%             | 2029-09-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| STANLEY BLACK & DECKER I                           | Stanley Black & Decker Inc                                    | CUSIP: 854502AK7<br>LEI: 549300DJ09SMTO561131 | Long             | DBT              | CORP              | US        |  11287000 | PA      | $11191094.02  | 0.75%             | 2026-03-01      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| MANGROVE LUXCO III                                 | Mangrove Luxco III Sarl                                       | CUSIP: YW1323297<br>LEI: 549300GLJSZN1PU7T586 | Long             | DBT              | CORP              | LU        |  20826000 | PA      | $24798876.76  | 1.65%             | 2029-07-15      | Floating      | 7.28%                 | No            |                  2 | On Loan: No      |
| Range Capital Acquisition Corp                     | Range Capital Acquisition Corp                                | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    285700 | NS      | $2936996.00   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| TERRIER MEDIA BUYER INC                            | CMG Media Corp                                                | CUSIP: 88145LAF1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  36223275 | PA      | $35199424.50  | 2.35%             | 2029-06-18      | Floating      | 7.90%                 | No            |                  2 | On Loan: No      |
| STOLT-NIELSEN LTD                                  | Stolt-Nielsen Ltd                                             | CUSIP: ZI7987343<br>LEI: 213800VZX4LWJSGRLR94 | Long             | DBT              | CORP              | BM        |  13500000 | PA      | $1382057.71   | 0.09%             | 2028-09-26      | Floating      | 7.52%                 | No            |                  2 | On Loan: No      |
| STOCKWIK FORVALTNING                               | Stockwik Forvaltning AB                                       | CUSIP: ZL4689937<br>LEI: 213800X1259MBEKD5H24 | Long             | DBT              | CORP              | SE        |  65000000 | PA      | $7016377.93   | 0.47%             | 2026-03-20      | Floating      | 10.15%                | No            |                  2 | On Loan: No      |
| NEO BIDCO AB                                       | Goldcup 100865 AB                                             | CUSIP: YX9531501<br>LEI: 6367006K4VQQGJD8Q028 | Long             | DBT              | CORP              | SE        |   6250000 | PA      | $670522.89    | 0.04%             | 2028-07-11      | Floating      | 7.83%                 | No            |                  2 | On Loan: No      |
| QFLOW GROUP AB                                     | Qflow Group AB                                                | CUSIP: YV5350181<br>LEI: 6367009B048PH0858627 | Long             | DBT              | CORP              | SE        |  28750000 | PA      | $3062784.06   | 0.20%             | 2028-09-25      | Floating      | 7.65%                 | No            |                  2 | On Loan: No      |
| CHARLES RIVER LABORATORI                           | Charles River Laboratories International Inc                  | CUSIP: 159864AE7<br>LEI: 549300BSQ0R4UZ5KX287 | Long             | DBT              | CORP              | US        |   8397000 | PA      | $8149692.40   | 0.54%             | 2028-05-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| First American Government Obli                     | First American Government Obligations Fund                    | CUSIP: 31846V336<br>LEI: 549300R5MYM6VZF1RM44 | Long             | STIV             | RF                | US        |  30572748 | NS      | $30572747.83  | 2.04%             |  |  |  | No            |                  1 | On Loan: No      |
| GENERAL MOTORS FINL CO                             | General Motors Financial Co Inc                               | CUSIP: 37045XDZ6<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |   3779000 | PA      | $3791562.98   | 0.25%             | 2025-10-10      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| GILEAD SCIENCES INC                                | Gilead Sciences Inc                                           | CUSIP: 375558BF9<br>LEI: 549300WTZWR07K8MNV44 | Long             | DBT              | CORP              | US        |   8847000 | PA      | $8803933.25   | 0.59%             | 2026-03-01      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| LEAFLY HOLDINGS INC                                | Leafly Holdings Inc                                           | CUSIP: 52178J113<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |     36943 | NS      | $417.46       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| MICROCHIP TECHNOLOGY INC                           | Microchip Technology Inc                                      | CUSIP: 595017BL7<br>LEI: 5493007PTFULNYZJ1R12 | Long             | DBT              | CORP              | US        |  11462000 | PA      | $11631274.48  | 0.78%             | 2030-02-15      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| SS&C TECHNOLOGIES INC                              | SS&C Technologies Inc                                         | CUSIP: 78466CAC0<br>LEI: 549300KY09TR3J12JU49 | Long             | DBT              | CORP              | US        |  28285000 | PA      | $28290535.37  | 1.89%             | 2027-09-30      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| WELLTEC INTERNATIONAL                              | Welltec International ApS                                     | CUSIP: 95039LAA6<br>LEI: 549300MW4UJ1X7Q4F350 | Long             | DBT              | CORP              | DK        |  20471000 | PA      | $20476512.84  | 1.36%             | 2026-10-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| SECOP GROUP HLDG GMBH                              | Secop Group Holding GmbH                                      | CUSIP: ZK8432245<br>LEI: 3912009IWWPURB35WO49 | Long             | DBT              | CORP              | DE        |   2561000 | PA      | $3084601.94   | 0.21%             | 2026-12-29      | Floating      | 10.38%                | No            |                  2 | On Loan: No      |
| OUTERSTUFF LLC                                     | Outerstuff LLC                                                | CUSIP: N/A<br>LEI: 549300RQBRV8J7FCIM71       | Long             | LON              | CORP              | US        |     31583 | PA      | $31780.18     | 0.00%             | 2027-12-31      | Floating      | 11.96%                | No            |                  2 | On Loan: No      |
| GOLAR LNG LTD                                      | Golar LNG Ltd                                                 | CUSIP: BR7245524<br>LEI: 213800C2VSFZG3EZLO34 | Long             | DBT              | CORP              | BM        |  10290000 | PA      | $10331803.13  | 0.69%             | 2025-10-20      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| VIEW LEDGER AS                                     | View Ledger AS                                                | CUSIP: YS5972734<br>LEI: 9845001DABA64B69D332 | Long             | DBT              | CORP              | NO        |   9500000 | PA      | $966079.33    | 0.06%             | 2029-01-31      | Floating      | 9.09%                 | No            |                  2 | On Loan: No      |
| HAWK INFINITY SOFTWARE                             | Hawk Infinity Software AS                                     | CUSIP: YS9609746<br>LEI: 549300B1TJBVGILMBQ39 | Long             | DBT              | CORP              | NO        |  71900000 | PA      | $7219555.66   | 0.48%             | 2029-10-15      | Floating      | 11.10%                | No            |                  2 | On Loan: No      |
| Prosomnus Equity                                   | Prosomnus Equity                                              | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    996799 | NS      | $1200744.08   | 0.08%             |  |  |  | No            |                  3 | On Loan: No      |
| Prosomnus Sleep Technologies Inc.                  | Prosomnus Sleep Technologies Inc.                             | CUSIP: N/A<br>LEI: N/A                        | Long             | DBT              | CORP              | US        |   6973349 | PA      | $5247445.03   | 0.35%             | 2026-12-31      | Fixed         | 8.00%                 | No            |                  3 | On Loan: No      |
| BX Trust                                           | BX Commercial Mortgage Trust 2024-KING                        | CUSIP: 05612RAC3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2674787 | PA      | $2677202.81   | 0.18%             | 2034-05-15      | Floating      | 6.05%                 | No            |                  2 | On Loan: No      |
| THE CAMPBELLS COMPANY                              | THE CAMPBELLS COMPANY                                         | CUSIP: 13443CVD0<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |   9911000 | PA      | $9854499.37   | 0.66%             | 2025-08-13      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| CCM MERGER INC                                     | CCM Merger Inc                                                | CUSIP: 14985VAE1<br>LEI: 549300P77RSBKKFME089 | Long             | DBT              | CORP              | US        |   5628000 | PA      | $5645902.67   | 0.38%             | 2026-05-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| CONSOLIDATED COMMUNICATI                           | Consolidated Communications Inc                               | CUSIP: 20903XAF0<br>LEI: 549300WW675Y48HDVX34 | Long             | DBT              | CORP              | US        |  44222000 | PA      | $45108759.00  | 3.01%             | 2028-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ICAHN ENTERPRISES/FIN                              | Icahn Enterprises LP / Icahn Enterprises Finance Corp         | CUSIP: 451102BZ9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  19652000 | PA      | $19055691.50  | 1.27%             | 2027-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| INFOR INC                                          | Infor LLC                                                     | CUSIP: 45674CAA1<br>LEI: 549300Q3IIYBYI4RHD64 | Long             | DBT              | CORP              | US        |   6332000 | PA      | $6323313.45   | 0.42%             | 2025-07-15      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| JABIL INC DISC COML PAPER                          | JABIL INC DISC COML PAPER                                     | CUSIP: 46652LU96<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |  16859000 | PA      | $16837605.93  | 1.12%             | 2025-07-09      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| WARNERMEDIA HOLDINGS INC                           | Warnermedia Holdings Inc                                      | CUSIP: 55903VBA0<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |  13814000 | PA      | $12938192.40  | 0.86%             | 2027-03-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| WARNERMEDIA HOLDINGS INC                           | Warnermedia Holdings Inc                                      | CUSIP: 55903VBL6<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |   3661000 | PA      | $3572330.58   | 0.24%             | 2027-03-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| LEAFLY HOLDINGS INC                                | Leafly Holdings Inc                                           | CUSIP: 58953MAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   6339000 | PA      | $5388150.00   | 0.36%             | 2025-07-01      | Fixed         | 8.00%                 | No            |                  3 | On Loan: No      |
| ONEOK INC                                          | ONEOK Inc                                                     | CUSIP: 682680CB7<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |  13261000 | PA      | $13243322.82  | 0.88%             | 2027-09-24      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| SIZZLING PLATT/FIN CO                              | Sizzling Platter LLC / Sizzling Platter Finance Corp          | CUSIP: 830146AB2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  32300000 | PA      | $32315710.40  | 2.15%             | 2025-11-28      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| SOLARIS OILFIELD INFRA                             | Solaris Oilfield Infrastructure LLC                           | CUSIP: 83418UAB1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  10351000 | PA      | $10532142.50  | 0.70%             | 2029-09-11      | Floating      | 10.93%                | No            |                  2 | On Loan: No      |
| SONOCO PRODUCTS CO                                 | Sonoco Products Co                                            | CUSIP: 835495AQ5<br>LEI: GKOMIK4RDJGHEF0VNP11 | Long             | DBT              | CORP              | US        |   6466000 | PA      | $6460893.67   | 0.43%             | 2026-09-01      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| SPRINT LLC                                         | Sprint LLC                                                    | CUSIP: 85207UAK1<br>LEI: 549300ZTTY7CXOLJ6539 | Long             | DBT              | CORP              | US        |  25800000 | PA      | $26049100.29  | 1.74%             | 2026-03-01      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| UBER TECHNOLOGIES INC                              | Uber Technologies Inc                                         | CUSIP: 90353TAE0<br>LEI: 549300B2FTG34FILDR98 | Long             | DBT              | CORP              | US        |  11882000 | PA      | $11995797.84  | 0.80%             | 2027-09-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| UBER TECHNOLOGIES INC                              | Uber Technologies Inc                                         | CUSIP: 90353TAG5<br>LEI: 549300B2FTG34FILDR98 | Long             | DBT              | CORP              | US        |  15915000 | PA      | $16000925.09  | 1.07%             | 2028-01-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| WESTERN DIGITAL CORP                               | Western Digital Corp                                          | CUSIP: 958102AM7<br>LEI: 549300QQXOOYEF89IC56 | Long             | DBT              | CORP              | US        |   5228000 | PA      | $5219955.68   | 0.35%             | 2026-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| WILLIAMS SCOTSMAN INC                              | Williams Scotsman Inc                                         | CUSIP: 96950GAE2<br>LEI: 549300DAKDS8SCO1OT57 | Long             | DBT              | CORP              | US        |  12934000 | PA      | $12714463.46  | 0.85%             | 2028-08-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Kochav Defense Acquisition Cor                     | Kochav Defense Acquisition Corp                               | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    275000 | NS      | $2798125.00   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Translational Development Acqu                     | Translational Development Acquisition Corp                    | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    348716 | NS      | $3591774.80   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| TOSCA SERVICES LLC                                 | Tosca Services LLC                                            | CUSIP: 89148PAK6<br>LEI: 5493005QOAEK5WNBJW47 | Long             | LON              | CORP              | US        |   3039082 | PA      | $3096064.96   | 0.21%             | 2028-11-30      | Floating      | 9.82%                 | No            |                  2 | On Loan: No      |
| GO NORTH GROUP AB                                  | Go North Group AB                                             | CUSIP: ZM6862225<br>LEI: 636700UB68QRCB53V204 | Long             | DBT              | CORP              | SE        |  14445312 | PA      | $87793.49     | 0.01%             | 2027-02-09      | Fixed         | 15.00%                | No            |                  2 | On Loan: No      |
| CABONLINE GROUP HOLD                               | Cabonline Group Holding AB                                    | CUSIP: ZH5206474<br>LEI: 549300PB67LZ38PTO750 | Long             | DBT              | CORP              | SE        |  21879529 | PA      | $2261551.78   | 0.15%             | 2028-03-19      | None          | 10.00%                | No            |                  2 | On Loan: No      |
| VERVE GROUP SE                                     | Verve Group SE                                                | CUSIP: YR9250543<br>LEI: 391200UIIWMXRLGARB95 | Long             | DBT              | CORP              | SE        |  11312000 | PA      | $13258384.08  | 0.88%             | 2029-04-01      | Floating      | 6.33%                 | No            |                  2 | On Loan: No      |
| BX Trust                                           | BX Trust 2025-LUNR                                            | CUSIP: 05594CAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  22350000 | PA      | $22412942.07  | 1.49%             | 2040-06-15      | Floating      | 5.81%                 | No            |                  2 | On Loan: No      |
| BX Trust                                           | BX Commercial Mortgage Trust 2021-SOAR                        | CUSIP: 05608WAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1884986 | PA      | $1884771.59   | 0.13%             | 2038-06-15      | Floating      | 5.10%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH REVENUES                     | New York State Dormitory Authority                            | CUSIP: 649907JJ2<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   2005000 | PA      | $2005000.00   | 0.13%             | 2035-05-01      | Variable      | 5.95%                 | No            |                  2 | On Loan: No      |
| GEN DIGITAL INC                                    | Gen Digital Inc                                               | CUSIP: 668771AK4<br>LEI: YF6ZV0M6AU4FY94MK914 | Long             | DBT              | CORP              | US        |  11720000 | PA      | $11935718.32  | 0.80%             | 2027-09-30      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| GENTOO MEDIA PLC                                   | Gentoo Media PLC                                              | CUSIP: ZG3808570<br>LEI: 213800UCC6GA967UCS06 | Long             | DBT              | CORP              | MT        |   3510000 | PA      | $4248307.43   | 0.28%             | 2026-12-18      | Floating      | 9.25%                 | No            |                  2 | On Loan: No      |
| OP HOLDCO GMBH                                     | OP Holdco GmbH                                                | CUSIP: YT1078450<br>LEI: 391200EJZNGLOEMJB140 | Long             | DBT              | CORP              | DE        |  16900000 | PA      | $19322632.61  | 1.29%             | 2029-06-05      | Floating      | 8.47%                 | No            |                  2 | On Loan: No      |
| OREXO AB                                           | Orexo AB                                                      | CUSIP: ZD5840446<br>LEI: 549300LJ5CCWDPTK9Z08 | Long             | DBT              | CORP              | SE        |  47500000 | PA      | $4744527.48   | 0.32%             | 2028-03-28      | Floating      | 8.66%                 | No            |                  2 | On Loan: No      |
| AMGEN INC                                          | Amgen Inc                                                     | CUSIP: 031162DN7<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |   2700000 | PA      | $2700408.83   | 0.18%             | 2026-03-02      | Fixed         | 5.51%                 | No            |                  2 | On Loan: No      |
| BGC GROUP INC                                      | BGC Group Inc                                                 | CUSIP: 05555LAC5<br>LEI: 2549001IGRCG4F0RLD36 | Long             | DBT              | CORP              | US        |   6707000 | PA      | $6801466.42   | 0.45%             | 2030-04-02      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| BX Trust                                           | BX Commercial Mortgage Trust 2021-VOLT                        | CUSIP: 05609VAJ4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   4553492 | PA      | $4534268.71   | 0.30%             | 2036-09-15      | Floating      | 5.53%                 | No            |                  2 | On Loan: No      |
| BGC GROUP INC                                      | BGC Group Inc                                                 | CUSIP: 088929AB0<br>LEI: 2549001IGRCG4F0RLD36 | Long             | DBT              | CORP              | US        |  20722000 | PA      | $20661581.07  | 1.38%             | 2025-12-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| ALASKA AIRLINES 2020 TR                            | Alaska Airlines 2020-1 Class A Pass Through Trust             | CUSIP: 01166VAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1192887 | PA      | $1194735.89   | 0.08%             | 2027-08-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Banc of America Merrill Lynch                      | BAMLL Commercial Mortgage Securities Trust 2022-DKLX          | CUSIP: 05530SAJ5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3390015 | PA      | $3362276.74   | 0.22%             | 2039-01-15      | Floating      | 6.46%                 | No            |                  2 | On Loan: No      |
| BRAEMAR HOTELS & RESORTS                           | Braemar Hotels & Resorts Inc                                  | CUSIP: 10482BAB7<br>LEI: 549300JDUUEBN868C776 | Long             | DBT              | CORP              | US        |   3150000 | PA      | $2953125.00   | 0.20%             | 2026-06-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CANNABIST CO HLDGS INC COM                         | CANNABIST CO HLDGS INC COM                                    | CUSIP: 13765Y400<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |   4027595 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| VMWARE LLC                                         | VMware LLC                                                    | CUSIP: 928563AJ4<br>LEI: 549300BUDHS3LRWBE814 | Long             | DBT              | CORP              | US        |   4061000 | PA      | $3928627.12   | 0.26%             | 2026-08-15      | Fixed         | 1.40%                 | No            |                  2 | On Loan: No      |
| CENGAGE LEARNING INC                               | Cengage Learning Inc                                          | CUSIP: 15131YAQ8<br>LEI: 549300BYGM0FWUSVXJ88 | Long             | LON              | CORP              | US        |   6191293 | PA      | $6213333.98   | 0.41%             | 2031-03-24      | Floating      | 7.82%                 | No            |                  2 | On Loan: No      |
| The Container Store Exit Loan - First Out T/L- Tar | The Container Store Exit Loan - First Out T/L- Tar            | CUSIP: 21075BAS0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  11651239 | PA      | $10952164.65  | 0.73%             | 2029-04-30      | Floating      | 5.33%                 | No            |                  2 | On Loan: No      |
| AIDER KONSERN AS                                   | Aider Konsern AS                                              | CUSIP: YV2565815<br>LEI: 636700LSENLHRA6AJM05 | Long             | DBT              | CORP              | NO        |  26550000 | PA      | $2699937.50   | 0.18%             | 2028-09-05      | Floating      | 8.79%                 | No            |                  2 | On Loan: No      |
| BEELUX SARL                                        | Beelux Sarl                                                   | CUSIP: YR1980121<br>LEI: 9845009685FD2FCBD712 | Long             | SN               | CORP              | LU        |  11900000 | PA      | $13632160.48  | 0.91%             | 2028-03-14      | Floating      | 8.47%                 | No            |                  2 | On Loan: No      |
| N/A                                                | SEK/USD FWD 20250715                                          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $9171.55      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| TD SYNNEX CORP                                     | TD SYNNEX Corp                                                | CUSIP: 87162WAF7<br>LEI: 5493004HI6PFLF46NS53 | Long             | DBT              | CORP              | US        |   5186000 | PA      | $5018446.62   | 0.33%             | 2026-08-09      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| TEGRA118 WEALTH SOLUTION                           | Tegra118 Wealth Solutions Inc                                 | CUSIP: 33774UAC2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  24098871 | PA      | $23888005.53  | 1.59%             | 2027-02-18      | Floating      | 8.32%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-07-29

**Name of Applicant:** Trust for Professional Managers

**Signature:** /s/ Kelly Strauss

**Name of Signer:** Kelly Strauss

**Title:** Treasurer