# EDGAR Filing Document

**Accession Number:** 0001766436
**File Stem:** 0001398344-25-012466
**Filing Date:** 2025-6
**Character Count:** 42781
**Document Hash:** 0596aff725bdc4fac7daadc6991ccb5f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001398344-25-012466.hdr.sgml**: 20250630

**ACCESSION NUMBER**: 0001398344-25-012466

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250430

**FILED AS OF DATE**: 20250630

**DATE AS OF CHANGE**: 20250630

**PERIOD START**: 20250731

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Leader Funds Trust
- **CENTRAL INDEX KEY:** 0001766436

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0531

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23419
- **FILM NUMBER:** 251093326

**BUSINESS ADDRESS:**
- **STREET 1:** 315 W. MILL PLAIN BLVD
- **STREET 2:** SUITE 204
- **CITY:** VANCOUVER
- **STATE:** WA
- **ZIP:** 98660
- **BUSINESS PHONE:** 1-800-711-9164

**MAIL ADDRESS:**
- **STREET 1:** 315 W. MILL PLAIN BLVD
- **STREET 2:** SUITE 204
- **CITY:** VANCOUVER
- **STATE:** WA
- **ZIP:** 98660

## Series and Classes Contracts Data

### Leader Capital Short Term High Yield Bond Fund (Series ID: S000065272)

| Class ID   | Class Name                                                         | Ticker Symbol   |
|:---|:---|:---|
| C000211307 | Leader Capital Short Term High Yield Bond Fund Investor Class      | LCCMX           |
| C000211310 | Leader Capital Short Term High Yield Bond Fund Institutional Class | LCCIX           |

## Nport-Ex

**Leader Capital Short Term High Yield Bond Fund**

**Schedule Of Investments (Unaudited)**

**April 30, 2025**

---

| | | |
|:---|:---|:---|
| **Shares** |  | **Fair Value** |
| | **PREFERRED STOCK - 0.4%** | |
|  | *INSTITUTIONAL FINANCIAL SERVICES - 0.4%* |  |
| 18818 | &nbsp;&nbsp;&nbsp;B Riley Financial, Inc. (a)(b) | $119871 |
| 54941 | &nbsp;&nbsp;&nbsp;B Riley Financial, Inc. (a)(b) | 382389 |
|  |  | 502260 |
|  | **TOTAL PREFERRED STOCK - (Cost $1,269,289)** | 502260 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Principal Amount ($)** |  | **Series** | **Class** | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **ASSET BACKED SECURITIES - 90.4%** |  |  |  |  |  |
|  | *COLLATERALIZED LOAN OBLIGATIONS - 90.4%* |  |  |  |  |  |
| 2500000 | &nbsp;&nbsp;&nbsp;Allegro CLO X, LTD. (c)(d) | 2019-1A | Class E | 11.411 | 4/20/2032 | 2455685 |
| 4900000 | &nbsp;&nbsp;&nbsp;Allegro CLO V-S, LTD. (c)(d) | 2024-2A | Class E | 11.775 | 7/24/2037 | 4812191 |
| 700000 | &nbsp;&nbsp;&nbsp;Ares CLO XLVIII, LTD. (c)(d) | 2018-48 | Class E | 9.731 | 7/20/2030 | 690231 |
| 1275000 | &nbsp;&nbsp;&nbsp;Battalion CLO XV, LTD. (c)(d) | 2020-15A | Class E | 10.891 | 1/17/2033 | 1214102 |
| 2500000 | &nbsp;&nbsp;&nbsp;Battalion CLO XXII, LTD. (c)(d) | 2021-22A | Class E | 11.481 | 1/20/2035 | 2300193 |
| 4900000 | &nbsp;&nbsp;&nbsp;BlueMountain CLO 2015-4, LTD. (c)(d) | 2015-4R | Class ER | 10.481 | 4/20/2030 | 4689418 |
| 1000000 | &nbsp;&nbsp;&nbsp;BlueMountain CLO 2018-2, LTD. (c)(d) | 2018-2 | Class E | 10.635 | 8/15/2031 | 919105 |
| 3390000 | &nbsp;&nbsp;&nbsp;BlueMountain CLO XXIX, LTD. (c)(d) | 2020-29A | Class ER | 11.403 | 7/25/2034 | 3274729 |
| 3000000 | &nbsp;&nbsp;&nbsp;Bryant Park Funding 2024-24, LTD. (c)(d) | 2024-24 | Class E | 10.896 | 10/15/2037 | 2985702 |
| 1450000 | &nbsp;&nbsp;&nbsp;Canyon Capital CLO 2014-1, LTD. (c)(d) | 2014-1R | Class DR | 10.049 | 1/30/2031 | 1375699 |
| 2500000 | &nbsp;&nbsp;&nbsp;Canyon CLO 2018-1, LTD. (c)(d) | 2018-1A | Class E | 10.268 | 7/15/2031 | 2468246 |
| 3500000 | &nbsp;&nbsp;&nbsp;Carlyle Global Market Strategies CLO 2016-3, LTD. (c)(d) | 2016-3 | Class ERR | 11.531 | 7/20/2034 | 3418404 |
| 1000000 | &nbsp;&nbsp;&nbsp;Cathedral Lake VIII,LTD (c)(d) | 2021-8A | Class E | 12.021 | 1/20/2035 | 975653 |
| 1000000 | &nbsp;&nbsp;&nbsp;Columbia Cent CLO 31, LTD. (c)(d) | 2021-31A | Class E | 11.081 | 4/20/2034 | 900789 |
| 2500000 | &nbsp;&nbsp;&nbsp;Columbia Cent CLO 33, LTD. (c)(d) | 2024-33A | Class E | 11.429 | 4/20/2037 | 2455358 |
| 5081500 | &nbsp;&nbsp;&nbsp;Dryden 45 Senior Loan Fund (c)(d) | 2016-45A | Class ER | 10.368 | 10/15/2030 | 4749498 |
| 1375000 | &nbsp;&nbsp;&nbsp;Dryden 42 Senior Loan Fund (c)(d) | 2016-42A | Class ERR | 10.756 | 7/15/2037 | 1329565 |
| 4000000 | &nbsp;&nbsp;&nbsp;Dryden 95 CLO, LTD. (c)(d) | 2021-95A | Class E | 10.734 | 8/20/2034 | 3854971 |
| 500000 | &nbsp;&nbsp;&nbsp;Dryden 37 Senior Loan Fund (c)(d) | 015-37R | Class ER | 9.668 | 1/15/2031 | 470213 |
| 1650000 | &nbsp;&nbsp;&nbsp;Dryden 60 CLO, LTD. (c)(d) | 2018-60A | Class E | 10.118 | 7/15/2031 | 1609729 |
| 3000000 | &nbsp;&nbsp;&nbsp;Dryden 97 CLO, LTD. (c)(d) | 2022-97A | Class E | 11.019 | 4/20/2035 | 2886326 |
| 2000000 | &nbsp;&nbsp;&nbsp;Dryden 68 CLO, LTD. (c)(d) | 2019-68A | Class ER | 11.268 | 7/15/2035 | 1928233 |
| 2000000 | &nbsp;&nbsp;&nbsp;Dryden 78 CLO, LTD. (c)(d) | 2020-78A | Class ER | 10.910 | 4/17/2037 | 1963063 |
| 1000000 | &nbsp;&nbsp;&nbsp;1828 CLO, LTD. (c)(d) | 2016-R | Class DR | 11.108 | 10/15/2031 | 980070 |
| 4000000 | &nbsp;&nbsp;&nbsp;Elevation CLO 2021-12, LTD. (c)(d) | 2021-12A | Class ER | 11.749 | 4/20/2037 | 3859227 |
| 2000000 | &nbsp;&nbsp;&nbsp;Fortress Credit BSL XIII, LTD. (c)(d) | 2021-2A | Class E | 11.441 | 7/10/2034 | 1976344 |
| 2000000 | &nbsp;&nbsp;&nbsp;Gallatin CLO VIII 2017-1, LTD. (c)(d) | 2017-1 | Class ER | 11.438 | 7/15/2031 | 1886891 |
| 1000000 | &nbsp;&nbsp;&nbsp;HPS Loan Management 2021-16A, LTD. (c)(d) | 2021-16A | Class E | 11.041 | 1/23/2035 | 986293 |
| 3700000 | &nbsp;&nbsp;&nbsp;Invesco CLO 2022-1A, LTD. (c)(d) | 2022-1A | Class E | 10.569 | 4/20/2035 | 3577622 |
| 2000000 | &nbsp;&nbsp;&nbsp;Jefferson Mill CLO, LTD. (c)(d) | 2015-R | Class ER | 10.981 | 10/20/2031 | 1882538 |
| 3250000 | &nbsp;&nbsp;&nbsp;LCM XXXIV CLO, LTD. (c)(d) | 2021-34A | Class E | 11.071 | 10/20/2034 | 2929223 |
| 1000000 | &nbsp;&nbsp;&nbsp;LCM XXXVII CLO, LTD. (c)(d) | 2022-37A | Class E | 11.886 | 4/15/2034 | 913035 |
| 1858000 | &nbsp;&nbsp;&nbsp;Marathon CLO XIII, LTD. (c)(d) | 2019-1 | Class A | 11.498 | 4/15/2032 | 1731694 |
| 1004000 | &nbsp;&nbsp;&nbsp;Marble Point CLO XXII, LTD. (c)(d) | 2021-2 | Class E | 11.933 | 7/25/2034 | 949241 |
| 2000000 | &nbsp;&nbsp;&nbsp;Mountain View Funding CLO 2019-1A, LTD. (c)(d) | 2019-1A | Class ER | 11.878 | 10/15/2034 | 1951169 |
| 3000000 | &nbsp;&nbsp;&nbsp;Mountain View CLO XV, LTD. (c)(d) | 2019-2A | Class ER | 12.326 | 7/15/2037 | 2948264 |
| 6000000 | &nbsp;&nbsp;&nbsp;OZLM VI, LTD. (c)(d) | 2018-6 | Class DS | 10.591 | 4/17/2031 | 5415653 |
| 1500000 | &nbsp;&nbsp;&nbsp;OZLM XIX, LTD. (c)(d) | 2017-19 | Class DR | 12.148 | 1/15/2035 | 1463537 |
| 6000000 | &nbsp;&nbsp;&nbsp;Octagon Investment Partners 69, LTD. (c)(d) | 2024-3A | Class E | 10.175 | 7/24/2037 | 6005664 |
| 4000000 | &nbsp;&nbsp;&nbsp;Octagon Investment Partners 50 (c)(d) | 2020-4A | Class A | 11.318 | 1/15/2035 | 3834739 |
| 2000000 | &nbsp;&nbsp;&nbsp;Orion CLO 2024-3, LTD. (c)(d) | 2024-3A | Class E | 10.582 | 7/25/2037 | 1990581 |
| 2000000 | &nbsp;&nbsp;&nbsp;PPM CLO 3, LTD. (c)(d) | 2019-3 | Class A | 11.151 | 7/17/2034 | 1767536 |
| 2000000 | &nbsp;&nbsp;&nbsp;PPM CLO 5, LTD. (c)(d) | 2021-5A | Class E | 5.250 | 10/18/2034 | 1852524 |
| 4000000 | &nbsp;&nbsp;&nbsp;Parallel CLO LTD. (c)(d) | 2021-1A | Class E | 6.000 | 10/20/2034 | 3904051 |
| 1000000 | &nbsp;&nbsp;&nbsp;Park Avenue Institutional Advisers CLO 2022-1, LTD. (c)(d) | 2022-1A | Class D | 3.688 | 4/20/2035 | 974855 |
| 2000000 | &nbsp;&nbsp;&nbsp;Sixth Street CLO XXVI, LTD. (c)(d) | 2024-26A | Class E | 3.768 | 10/18/2124 | 1959753 |
| 2000000 | &nbsp;&nbsp;&nbsp;Sound Point CLO XXV, LTD. (c)(d) | 2019-25R | Class ER | 5.234 | 4/25/2033 | 1842941 |
| 500000 | &nbsp;&nbsp;&nbsp;Symphony CLO XVI, LTD. (c)(d) | 2015-16R | Class ER | 10.618 | 10/15/2031 | 463538 |
| 1100000 | &nbsp;&nbsp;&nbsp;Wind River 2018-2 CLO, LTD. (c)(d) | 2018-2 | Class E | 10.268 | 7/15/2030 | 1093127 |
| 1750000 | &nbsp;&nbsp;&nbsp;Trinitas CLO XI, LTD. (c)(d) | 2019-11A | Class ER | 11.788 | 7/15/2034 | 1621120 |
| 500000 | &nbsp;&nbsp;&nbsp;Voya CLO 2019-2, LTD. (c)(d) | 2019-2A | Class E | 11.131 | 7/20/2032 | 457025 |
| 2000000 | &nbsp;&nbsp;&nbsp;Voya CLO 2020-1, LTD. (c)(d) | 2020-1A | Class ER | 10.872 | 7/16/2034 | 1812263 |
| 1500000 | &nbsp;&nbsp;&nbsp;Wellfleet CLO X, LTD. (c)(d) | 2019-XA | Class D-R | 11.141 | 7/20/2032 | 1449658 |
| 1500000 | &nbsp;&nbsp;&nbsp;Wind River 2016-1K CLO, LTD. (c)(d) | 2016-1K | Class ER | 11.868 | 10/15/2034 | 1327026 |
| 2000000 | &nbsp;&nbsp;&nbsp;Wind River 2017-1 CLO, LTD. (c)(d) | 2017-1A | Class ER | 11.591 | 4/18/2036 | 1942835 |
| 2000000 | &nbsp;&nbsp;&nbsp;KKR CLO 17, LTD. (c)(d) | 2017 | Class ER | 11.954 | 4/15/2034 | 1933728 |
|  | *COMMERCIAL MORTGAGE-BACKED SECURITIES - 3.4%* |  |  |  |  |  |
| 5000000 | &nbsp;&nbsp;&nbsp;HONO 2021-LULU Mortgage Trust (c)(d) | 2021-LULU | Class C | 8.836 | 12/15/2036 | 4770623 |
|  | **TOTAL ASSET BACKED SECURITIES - (Cost $128,986,442)** |  |  |  |  | 128181489 |

---

**Leader Capital Short Term High Yield Bond Fund**

**SCHEDULE OF INVESTMENTS (Unaudited) (Continued)**

**April 30, 2025**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Principal Amount ($)** |  | **Spread** | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **CORPORATE BONDS - 3.5%** |  |  |  |  |
|  | *FINANCIALS - 3.5%* |  |  |  |  |
| 5250000 | &nbsp;&nbsp;&nbsp;New York Community Bancorp, Inc. (c) |  | 7.343 | 11/6/2028 | $4946298 |
| 2000000 | &nbsp;&nbsp;&nbsp;VTB Bank PJSC Via Eurasia DAC (d)(e)(f) | H15T10Y + 8.067% | 11.577 | Perpetual | - |
|  | **TOTAL CORPORATE BONDS - (Cost $6,652,452)** |  |  |  | 4946298 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Principal Amount ($)** |  | **Coupon Rate (%)** | **Maturity** | **Fair Value** |
|  | **NON U.S. GOVERNMENT & AGENCIES - 0.3%** |  |  |  |
|  | *SOVEREIGN - 0.3%* |  |  |  |
| 336515 | &nbsp;&nbsp;&nbsp;Ukraine Government International Bond (d)(f)(g) | 1.750 | 2/1/2029 | 204854 |
| 144220 | &nbsp;&nbsp;&nbsp;Ukraine Government International Bond (d)(f)(g) | 1.750 | 2/1/2034 | 71749 |
| 26260 | &nbsp;&nbsp;&nbsp;Ukraine Government International Bond (d)(f)(g)(h) | 0.000 | 2/1/2030 | 12900 |
| 98130 | &nbsp;&nbsp;&nbsp;Ukraine Government International Bond (d)(f)(g)(h) | 0.000 | 2/1/2034 | 37167 |
| 82926 | &nbsp;&nbsp;&nbsp;Ukraine Government International Bond (d)(f)(g)(h) | 0.000 | 2/1/2035 | 42085 |
| 69105 | &nbsp;&nbsp;&nbsp;Ukraine Government International Bond (d)(f)(g)(h) | 0.000 | 2/1/2036 | 34639 |
|  |  |  |  | 403394 |
|  | **TOTAL NON U.S. GOVERNMENT & AGENCIES - (Cost $960,718)** |  |  | 403394 |

---

---

| | | | |
|:---|:---|:---|:---|
| **Principal Amount ($)** |  | **Coupon Rate (%)** | **Fair Value** |
|  | **SHORT TERM INVESTMESTS - 8.3%** |  |  |
|  | *MONEY MARKET FUNDS - 8.3%* |  |  |
| 11775018 | &nbsp;&nbsp;&nbsp;First American Government Obligations Fund, Class X (i) | 4.275 | 11775018 |
|  | **TOTAL SHORT TERM INVESTMESTS - (Cost $11,775,018)** |  | 11775018 |
|  | **TOTAL INVESTMENTS - 102.9% - (Cost $149,643,918)** |  | 145808459 |
|  | **LIABILITIES IN EXCESS OF OTHER ASSETS - -2.9%** |  | (4065556) |
|  | **NET ASSETS - 100.0%** |  | $141742903 |

---

LTD - Limited Company

PJSC - Public Joint-Stock Company

DAC - Designated Activity Company

H15T10Y - U.S. Treasury Yield Curve Rate T Note 10 Year Constant Maturity

**<sup>(a)</sup>** Rate shown represents the dividend rate as of April 30, 2025.

**<sup>(b)</sup>** Perpetual security. Perpetual securities have no stated maturity date, but they may be called/redeemed by the issuer at any time.

**<sup>(c)</sup>** Variable or floating rate security, the interest rate of which adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets.

**<sup>(d)</sup>** Security exempt from registration under Rule 144A or Section 4(2) of the Securities Act of 1933. The security may be resold in transactions exempt from registration, normally to qualified institutional buyers. As of April 30, 2025 the total market value of 144A securities is $128,584,883 or 90.7% of net assets.

**<sup>(e)</sup>** The Liquidity Administrator has determined that these securities are illiquid. As of April 30, 2025, these securities amounted to $0 or 0.0% of net assets.

**<sup>(f)</sup>** Variable rate security; the rate shown represents the rate as of April 30, 2025.

**<sup>(g)</sup>** Ukraine won approval for a debt-payment freeze from the holders of its international bonds to defer coupon and principal payments until a future date.

**<sup>(h)</sup>** Non-income producing security.

**<sup>(i)</sup>** Rate disclosed is the seven day effective yield as of April 30, 2025.

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Leader Funds Trust

- **b. Investment Company Act file number:** 811-23419

- **c. CIK number of Registrant:** 0001766436

- **d. LEI of Registrant:** 5493004CXG3W4ZKLTI89

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

  - **Street Address 1:** 315 W. MILL PLAIN BOULEVARD

  - **City:** VANCOUVER

  - **State:** WA

  - **Foreign country:** US

  - **Zip / Postal Code:** 98660

  - **Telephone number:** 800-711-9164

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

- **a. Name of Series:** Leader Capital Short Term High Yield Bond Fund

- **b. EDGAR series identifier (if any):** S000065272

- **c. LEI of Series:** 54930055U85E86N3X724

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

- **a. Date of fiscal year-end:** 2025-07-31

- **b. Date as of which information is reported:** 2025-04-30

**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:** $146982955.81

**Total Liabilities:** $5240052.88

**Net Assets:** $141742902.93

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 0 | **1-Year:** 0 | **5-Year:** 0 | **10-Year:** 0 | **30-Year:** 0

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

- **3-Month:** 0 | **1-Year:** 218.96 | **5-Year:** 17316.55 | **10-Year:** 14361.35 | **30-Year:** 1294.83

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000211307 | -0.81%               | -1.00%               | 1.33%                |
| Class ID C000211310 | -0.65%               | -0.96%               | 1.38%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-1005363.78             | $-3848136.00                               |
| Month 2  | $1224585.58              | $-3848136.00                               |
| Month 3  | $875534.42               | $78637.00                                  |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| 1828 CLO, LTD.                                      | 1828 CLO, LTD.                                      | CUSIP: 28252TAX0<br>LEI: 549300TR3WW6GC2PC544 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $980069.70    | 0.69%             | 2031-10-15      | Floating      | 11.11%                | Yes           |                  2 | On Loan: No      |
| Allegro CLO V-S, LTD.                               | Allegro CLO V-S, LTD.                               | CUSIP: 01751CAA0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   4900000 | PA      | $4812190.53   | 3.40%             | 2037-07-24      | Floating      | 11.78%                | Yes           |                  2 | On Loan: No      |
| Allegro CLO X, LTD.                                 | Allegro CLO X, LTD.                                 | CUSIP: 01750GAA2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2500000 | PA      | $2455685.25   | 1.73%             | 2032-04-20      | Floating      | 11.41%                | Yes           |                  2 | On Loan: No      |
| Ares CLO XLVIII, LTD.                               | Ares CLO XLVIII, LTD.                               | CUSIP: 03990AAA1<br>LEI: 5493005WFBSWHJ1WGQ35 | Long             | ABS-CBDO         | CORP              | KY        |    700000 | PA      | $690231.43    | 0.49%             | 2030-07-20      | Floating      | 9.73%                 | Yes           |                  2 | On Loan: No      |
| B Riley Financial, Inc.                             | B Riley Financial, Inc.                             | CUSIP: 05580M819<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     18818 | NS      | $119870.66    | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| B Riley Financial, Inc.                             | B Riley Financial, Inc.                             | CUSIP: 05580M835<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     54941 | NS      | $382389.36    | 0.27%             |  |  |  | No            |                  2 | On Loan: No      |
| Battalion CLO XV, LTD.                              | Battalion CLO XV, LTD.                              | CUSIP: 07131CAA8<br>LEI: 549300CJP8HGT746II19 | Long             | ABS-CBDO         | CORP              | KY        |   1275000 | PA      | $1214101.67   | 0.86%             | 2033-01-17      | Floating      | 10.89%                | Yes           |                  2 | On Loan: No      |
| Battalion CLO XXII, LTD.                            | Battalion CLO XXII, LTD.                            | CUSIP: 07134MAA3<br>LEI: 5493003R1TSL3IKE4V49 | Long             | ABS-CBDO         | CORP              | KY        |   2500000 | PA      | $2300193.25   | 1.62%             | 2035-01-20      | Floating      | 11.48%                | Yes           |                  2 | On Loan: No      |
| BlueMountain CLO 2015-4, LTD.                       | BlueMountain CLO 2015-4, LTD.                       | CUSIP: 095766AG6<br>LEI: 549300EB3KHH9T7ICE44 | Long             | ABS-CBDO         | CORP              | KY        |   4900000 | PA      | $4689418.09   | 3.31%             | 2030-04-20      | Floating      | 10.48%                | Yes           |                  2 | On Loan: No      |
| BlueMountain CLO 2018-2, LTD.                       | BlueMountain CLO 2018-2, LTD.                       | CUSIP: 09629WAA9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $919104.50    | 0.65%             | 2031-08-15      | Floating      | 10.63%                | Yes           |                  2 | On Loan: No      |
| BlueMountain CLO XXIX, LTD.                         | BlueMountain CLO XXIX, LTD.                         | CUSIP: 09630LAE2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   3390000 | PA      | $3274728.81   | 2.31%             | 2034-07-25      | Floating      | 11.40%                | Yes           |                  2 | On Loan: No      |
| Bryant Park Funding 2024-24, LTD.                   | Bryant Park Funding 2024-24, LTD.                   | CUSIP: 11766FAA5<br>LEI: 3912003A96YDRT8EGP15 | Long             | ABS-CBDO         | CORP              | KY        |   3000000 | PA      | $2985702.00   | 2.11%             | 2037-10-15      | Floating      | 10.90%                | Yes           |                  2 | On Loan: No      |
| Canyon Capital CLO 2014-1, LTD.                     | Canyon Capital CLO 2014-1, LTD.                     | CUSIP: 13875LAW8<br>LEI: 549300W778MFSPI8C872 | Long             | ABS-CBDO         | CORP              | KY        |   1450000 | PA      | $1375699.25   | 0.97%             | 2031-01-30      | Floating      | 10.05%                | Yes           |                  2 | On Loan: No      |
| Canyon CLO 2018-1, LTD.                             | Canyon CLO 2018-1, LTD.                             | CUSIP: 13877AAA8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2500000 | PA      | $2468246.25   | 1.74%             | 2031-07-15      | Floating      | 10.27%                | Yes           |                  2 | On Loan: No      |
| Carlyle Global Market Strategies CLO 2016-3, LTD.   | Carlyle Global Market Strategies CLO 2016-3, LTD.   | CUSIP: 14311WAE4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   3500000 | PA      | $3418404.15   | 2.41%             | 2034-07-20      | Floating      | 11.53%                | Yes           |                  2 | On Loan: No      |
| Cathedral Lake VIII,LTD                             | Cathedral Lake VIII,LTD                             | CUSIP: 14919KAA4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $975653.00    | 0.69%             | 2035-01-20      | Floating      | 12.02%                | Yes           |                  2 | On Loan: No      |
| Columbia Cent CLO 31, LTD.                          | Columbia Cent CLO 31, LTD.                          | CUSIP: 19737NAA7<br>LEI: 5493007YZPNOMQEILE23 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $900789.00    | 0.64%             | 2034-04-20      | Floating      | 11.08%                | Yes           |                  2 | On Loan: No      |
| Columbia Cent CLO 33, LTD.                          | Columbia Cent CLO 33, LTD.                          | CUSIP: 19737VAA9<br>LEI: 2549000A46LJJ7H78351 | Long             | ABS-CBDO         | CORP              | JE        |   2500000 | PA      | $2455357.75   | 1.73%             | 2037-04-20      | Floating      | 11.43%                | Yes           |                  2 | On Loan: No      |
| Dryden 37 Senior Loan Fund                          | Dryden 37 Senior Loan Fund                          | CUSIP: 26249MAW7<br>LEI: 254900I0IPNA482LDS44 | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $470212.60    | 0.33%             | 2031-01-15      | Floating      | 9.67%                 | Yes           |                  2 | On Loan: No      |
| Dryden 42 Senior Loan Fund                          | Dryden 42 Senior Loan Fund                          | CUSIP: 26245AAC1<br>LEI: 549300GTVIVSKVBYOB52 | Long             | ABS-CBDO         | CORP              | KY        |   1375000 | PA      | $1329564.77   | 0.94%             | 2037-07-15      | Floating      | 10.76%                | Yes           |                  2 | On Loan: No      |
| Dryden 45 Senior Loan Fund                          | Dryden 45 Senior Loan Fund                          | CUSIP: 26244PAG0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   5081500 | PA      | $4749497.66   | 3.35%             | 2030-10-15      | Floating      | 10.37%                | Yes           |                  2 | On Loan: No      |
| Dryden 60 CLO, LTD.                                 | Dryden 60 CLO, LTD.                                 | CUSIP: 26251NAF7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1650000 | PA      | $1609729.44   | 1.14%             | 2031-07-15      | Floating      | 10.12%                | Yes           |                  2 | On Loan: No      |
| Dryden 68 CLO, LTD.                                 | Dryden 68 CLO, LTD.                                 | CUSIP: 26252RAE0<br>LEI: 254900MX6QAMC9XBAB53 | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $1928232.80   | 1.36%             | 2035-07-15      | Floating      | 11.27%                | Yes           |                  2 | On Loan: No      |
| Dryden 78 CLO, LTD.                                 | Dryden 78 CLO, LTD.                                 | CUSIP: 26253JAG2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |   2000000 | PA      | $1963063.40   | 1.38%             | 2037-04-17      | Floating      | 10.91%                | Yes           |                  2 | On Loan: No      |
| Dryden 95 CLO, LTD.                                 | Dryden 95 CLO, LTD.                                 | CUSIP: 262485AA3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   4000000 | PA      | $3854971.20   | 2.72%             | 2034-08-20      | Floating      | 10.73%                | Yes           |                  2 | On Loan: No      |
| Dryden 97 CLO, LTD.                                 | Dryden 97 CLO, LTD.                                 | CUSIP: 26251RAA9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   3000000 | PA      | $2886325.80   | 2.04%             | 2035-04-20      | Floating      | 11.02%                | Yes           |                  2 | On Loan: No      |
| Elevation CLO 2021-12, LTD.                         | Elevation CLO 2021-12, LTD.                         | CUSIP: 28623NAE7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   4000000 | PA      | $3859226.80   | 2.72%             | 2037-04-20      | Floating      | 11.75%                | Yes           |                  2 | On Loan: No      |
| First American Government Obligations Fund, Class X | First American Government Obligations Fund, Class X | CUSIP: 31846V336<br>LEI: 549300R5MYM6VZF1RM44 | Long             | STIV             | RF                | US        |  11775018 | NS      | $11775017.77  | 8.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Fortress Credit BSL XIII, LTD.                      | Fortress Credit BSL XIII, LTD.                      | CUSIP: 34963GAA6<br>LEI: 549300UOVYVQFYI3G824 | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $1976344.40   | 1.39%             | 2034-07-10      | Floating      | 11.44%                | Yes           |                  2 | On Loan: No      |
| Gallatin CLO VIII 2017-1, LTD.                      | Gallatin CLO VIII 2017-1, LTD.                      | CUSIP: 36361VAG3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $1886890.60   | 1.33%             | 2031-07-15      | Floating      | 11.44%                | Yes           |                  2 | On Loan: No      |
| HONO 2021-LULU Mortgage Trust                       | HONO 2021-LULU Mortgage Trust                       | CUSIP: 40390MAQ8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   5000000 | PA      | $4770623.00   | 3.37%             | 2036-12-15      | Floating      | 8.84%                 | Yes           |                  2 | On Loan: No      |
| HPS Loan Management 2021-16A, LTD.                  | HPS Loan Management 2021-16A, LTD.                  | CUSIP: 40441AAA8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $986293.40    | 0.70%             | 2035-01-23      | Floating      | 11.04%                | Yes           |                  2 | On Loan: No      |
| Invesco CLO 2022-1A, LTD.                           | Invesco CLO 2022-1A, LTD.                           | CUSIP: 46091GAA5<br>LEI: 2138003W7QBGJSA8VF04 | Long             | ABS-CBDO         | CORP              | KY        |   3700000 | PA      | $3577621.76   | 2.52%             | 2035-04-20      | Floating      | 10.57%                | Yes           |                  2 | On Loan: No      |
| Jefferson Mill CLO, LTD.                            | Jefferson Mill CLO, LTD.                            | CUSIP: 47421MBE2<br>LEI: 549300RV1TCF15DHXS87 | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $1882538.20   | 1.33%             | 2031-10-20      | Floating      | 10.98%                | Yes           |                  2 | On Loan: No      |
| KKR CLO 17, LTD.                                    | KKR CLO 17, LTD.                                    | CUSIP: 48251GAC3<br>LEI: 549300I0HBY0ZQ3YIB77 | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $1933727.80   | 1.36%             | 2034-04-15      | Floating      | 11.95%                | Yes           |                  2 | On Loan: No      |
| LCM XXXIV CLO, LTD.                                 | LCM XXXIV CLO, LTD.                                 | CUSIP: 50203DAA9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   3250000 | PA      | $2929222.73   | 2.07%             | 2034-10-20      | Floating      | 11.07%                | Yes           |                  2 | On Loan: No      |
| LCM XXXVII CLO, LTD.                                | LCM XXXVII CLO, LTD.                                | CUSIP: 50204FAA3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $913034.50    | 0.64%             | 2034-04-15      | Floating      | 11.89%                | Yes           |                  2 | On Loan: No      |
| Marathon CLO XIII, LTD.                             | Marathon CLO XIII, LTD.                             | CUSIP: 56579BAA6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1858000 | PA      | $1731694.46   | 1.22%             | 2032-04-15      | Floating      | 11.50%                | Yes           |                  2 | On Loan: No      |
| Marble Point CLO XXII, LTD.                         | Marble Point CLO XXII, LTD.                         | CUSIP: 56606HAA0<br>LEI: 549300MZC31PBFF01E87 | Long             | ABS-CBDO         | CORP              | KY        |   1004000 | PA      | $949241.04    | 0.67%             | 2034-07-25      | Floating      | 11.93%                | Yes           |                  2 | On Loan: No      |
| Mountain View CLO XV, LTD.                          | Mountain View CLO XV, LTD.                          | CUSIP: 62432QAL4<br>LEI: 254900VKL64PZVEG4F33 | Long             | ABS-CBDO         | CORP              | KY        |   3000000 | PA      | $2948263.50   | 2.08%             | 2037-07-15      | Floating      | 12.33%                | Yes           |                  2 | On Loan: No      |
| Mountain View Funding CLO 2019-1A, LTD.             | Mountain View Funding CLO 2019-1A, LTD.             | CUSIP: 62432NAL1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $1951168.60   | 1.38%             | 2034-10-15      | Floating      | 11.88%                | Yes           |                  2 | On Loan: No      |
| New York Community Bancorp, Inc.                    | New York Community Bancorp, Inc.                    | CUSIP: 649445AC7<br>LEI: 529900HVXOTLY61GL030 | Long             | DBT              | CORP              | US        |   5250000 | PA      | $4946298.00   | 3.49%             | 2028-11-06      | Floating      | 7.34%                 | No            |                  2 | On Loan: No      |
| Octagon Investment Partners 50                      | Octagon Investment Partners 50                      | CUSIP: 67592NAE2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   4000000 | PA      | $3834739.20   | 2.71%             | 2035-01-15      | Floating      | 11.32%                | Yes           |                  2 | On Loan: No      |
| Octagon Investment Partners 69, LTD.                | Octagon Investment Partners 69, LTD.                | CUSIP: 67579QAA0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   6000000 | PA      | $6005664.00   | 4.24%             | 2037-07-24      | Floating      | 10.18%                | Yes           |                  2 | On Loan: No      |
| Orion CLO 2024-3, LTD.                              | Orion CLO 2024-3, LTD.                              | CUSIP: 68626DAA0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $1990581.00   | 1.40%             | 2037-07-25      | Floating      | 10.58%                | Yes           |                  2 | On Loan: No      |
| OZLM VI, LTD.                                       | OZLM VI, LTD.                                       | CUSIP: 67108PAG9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   6000000 | PA      | $5415653.40   | 3.82%             | 2031-04-17      | Floating      | 10.59%                | Yes           |                  2 | On Loan: No      |
| OZLM XIX, LTD.                                      | OZLM XIX, LTD.                                      | CUSIP: 67112CAU1<br>LEI: 5493009C40QUU66J8E83 | Long             | ABS-CBDO         | CORP              | KY        |   1500000 | PA      | $1463536.50   | 1.03%             | 2035-01-15      | Floating      | 12.15%                | Yes           |                  2 | On Loan: No      |
| Parallel CLO LTD.                                   | Parallel CLO LTD.                                   | CUSIP: 69916LAA9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   4000000 | PA      | $3904051.20   | 2.75%             | 2034-10-20      | Floating      | 11.73%                | Yes           |                  2 | On Loan: No      |
| Park Avenue Institutional Advisers CLO 2022-1, LTD. | Park Avenue Institutional Advisers CLO 2022-1, LTD. | CUSIP: 70016DAA4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $974854.90    | 0.69%             | 2035-04-20      | Floating      | 11.56%                | Yes           |                  2 | On Loan: No      |
| PPM CLO 3, LTD.                                     | PPM CLO 3, LTD.                                     | CUSIP: 69355BAE1<br>LEI: 549300UEAJV6RALDS969 | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $1767535.60   | 1.25%             | 2034-07-17      | Floating      | 11.15%                | Yes           |                  2 | On Loan: No      |
| PPM CLO 5, LTD.                                     | PPM CLO 5, LTD.                                     | CUSIP: 69356VAA4<br>LEI: 549300UEAJV6RALDS969 | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $1852524.00   | 1.31%             | 2034-10-18      | Floating      | 11.03%                | Yes           |                  2 | On Loan: No      |
| Sixth Street CLO XXVI, LTD.                         | Sixth Street CLO XXVI, LTD.                         | CUSIP: 829935AA3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $1959753.00   | 1.38%             | 2124-10-18      | Floating      | 9.92%                 | Yes           |                  2 | On Loan: No      |
| Sound Point CLO XXV, LTD.                           | Sound Point CLO XXV, LTD.                           | CUSIP: 83614JAJ1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $1842941.00   | 1.30%             | 2033-04-25      | Floating      | 11.53%                | Yes           |                  2 | On Loan: No      |
| Symphony CLO XVI, LTD.                              | Symphony CLO XVI, LTD.                              | CUSIP: 87165TAE4<br>LEI: 5493004PWOYFPAFQVT02 | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $463537.95    | 0.33%             | 2031-10-15      | Floating      | 10.62%                | Yes           |                  2 | On Loan: No      |
| Trinitas CLO XI, LTD.                               | Trinitas CLO XI, LTD.                               | CUSIP: 89641LAG6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1750000 | PA      | $1621119.85   | 1.14%             | 2034-07-15      | Floating      | 11.79%                | Yes           |                  2 | On Loan: No      |
| Ukraine Government International Bond               | Ukraine Government International Bond               | CUSIP: 903724BZ4<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |    336515 | PA      | $204853.51    | 0.14%             | 2029-02-01      | Variable      | 1.75%                 | Yes           |                  2 | On Loan: No      |
| Ukraine Government International Bond               | Ukraine Government International Bond               | CUSIP: 903724CA8<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |    144220 | PA      | $71749.45     | 0.05%             | 2034-02-01      | Variable      | 1.75%                 | Yes           |                  2 | On Loan: No      |
| Ukraine Government International Bond               | Ukraine Government International Bond               | CUSIP: 903724CD2<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |     26260 | PA      | $12900.23     | 0.01%             | 2030-02-01      | Variable      | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Ukraine Government International Bond               | Ukraine Government International Bond               | CUSIP: 903724CE0<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |     98130 | PA      | $37166.74     | 0.03%             | 2034-02-01      | Variable      | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Ukraine Government International Bond               | Ukraine Government International Bond               | CUSIP: 903724CF7<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |     82926 | PA      | $42084.94     | 0.03%             | 2035-02-01      | Variable      | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Ukraine Government International Bond               | Ukraine Government International Bond               | CUSIP: 903724CG5<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |     69105 | PA      | $34638.88     | 0.02%             | 2036-02-01      | Variable      | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Voya CLO 2019-2, LTD.                               | Voya CLO 2019-2, LTD.                               | CUSIP: 92917XAA4<br>LEI: 54930010DKR017G3JK24 | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $457024.70    | 0.32%             | 2032-07-20      | Floating      | 11.13%                | Yes           |                  2 | On Loan: No      |
| Voya CLO 2020-1, LTD.                               | Voya CLO 2020-1, LTD.                               | CUSIP: 92918GAE2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $1812263.20   | 1.28%             | 2034-07-16      | Floating      | 10.87%                | Yes           |                  2 | On Loan: No      |
| VTB Bank PJSC Via Eurasia DAC                       | VTB Bank PJSC Via Eurasia DAC                       | CUSIP: G93951AA2<br>LEI: 635400IGBYL1WAJLDE17 | Long             | DBT              | CORP              | IE        |   2000000 | PA      | $0.00         | 0.00%             | 2500-12-31      | Variable      | 11.58%                | Yes           |                  3 | On Loan: No      |
| Wellfleet CLO X, LTD.                               | Wellfleet CLO X, LTD.                               | CUSIP: 94949VAE8<br>LEI: 254900A99ZMAJM1OOV76 | Long             | ABS-CBDO         | CORP              | KY        |   1500000 | PA      | $1449658.20   | 1.02%             | 2032-07-20      | Floating      | 11.14%                | Yes           |                  2 | On Loan: No      |
| Wind River 2016-1K CLO, LTD.                        | Wind River 2016-1K CLO, LTD.                        | CUSIP: 97314BAA0<br>LEI: 635400WBNY8VGBBADK15 | Long             | ABS-CBDO         | CORP              | KY        |   1500000 | PA      | $1327026.30   | 0.94%             | 2034-10-15      | Floating      | 11.87%                | Yes           |                  2 | On Loan: No      |
| Wind River 2017-1 CLO, LTD.                         | Wind River 2017-1 CLO, LTD.                         | CUSIP: 97315XAA1<br>LEI: 254900W8N6WOFX1LSH24 | Long             | ABS-CBDO         | CORP              | KY        |   2000000 | PA      | $1942834.60   | 1.37%             | 2036-04-18      | Floating      | 11.59%                | Yes           |                  2 | On Loan: No      |
| Wind River 2018-2 CLO, LTD.                         | Wind River 2018-2 CLO, LTD.                         | CUSIP: 88433LAA3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1100000 | PA      | $1093127.31   | 0.77%             | 2030-07-15      | Floating      | 10.27%                | Yes           |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-06-30

**Name of Applicant:** Leader Funds Trust

**Signature:** /s/ John Lekas

**Name of Signer:** John Lekas

**Title:** President