# EDGAR Filing Document

**Accession Number:** 0000924727
**File Stem:** 0001752724-23-046808
**Filing Date:** 2023-2
**Character Count:** 75266
**Document Hash:** 91b8dde4bb738c6780f975ea4a5ccd2c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-046808.hdr.sgml**: 20230228

**ACCESSION NUMBER**: 0001752724-23-046808

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230228

**DATE AS OF CHANGE**: 20230228

**PERIOD START**: 20221231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FPA FUNDS TRUST
- **CENTRAL INDEX KEY:** 0000924727
- **IRS NUMBER:** 043236699
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-08544
- **FILM NUMBER:** 23683318

**BUSINESS ADDRESS:**
- **STREET 1:** 11601 WILSHIRE BOULEVARD
- **STREET 2:** SUITE 1200
- **CITY:** LOS ANGELES
- **STATE:** CA
- **ZIP:** 90025
- **BUSINESS PHONE:** 310-473-0225

**MAIL ADDRESS:**
- **STREET 1:** 11601 WILSHIRE BOULEVARD
- **STREET 2:** SUITE 1200
- **CITY:** LOS ANGELES
- **STATE:** CA
- **ZIP:** 90025

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** UAM FUNDS TRUST
- **DATE OF NAME CHANGE:** 19951101

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** REGIS FUND II
- **DATE OF NAME CHANGE:** 19940606

## Series and Classes Contracts Data

### FPA Crescent Fund (Series ID: S000009495)

| Class ID   | Class Name                | Ticker Symbol   |
|:---|:---|:---|
| C000025975 | Institutional Class       | FPACX           |
| C000221940 | Supra Institutional Class | FPCSX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** FPA FUNDS TRUST

- **b. Investment Company Act file number:** 811-08544

- **c. CIK number of Registrant:** 0000924727

- **d. LEI of Registrant:** 549300H7BXP5EUEHOJ64

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

  - **Street Address 1:** 11601 WILSHIRE BOULEVARD

  - **City:** LOS ANGELES

  - **State:** CA

  - **Foreign country:** US

  - **Zip / Postal Code:** 90025

  - **Telephone number:** 310-473-0225

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

- **a. Name of Series:** FPA Crescent Fund

- **b. EDGAR series identifier (if any):** S000009495

- **c. LEI of Series:** 549300FMOJ71ODO86B07

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

- **a. Date of fiscal year-end:** 2022-12-31

- **b. Date as of which information is reported:** 2022-12-31

**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:** $8636781000.48

**Total Liabilities:** $45979753.61

**Net Assets:** $8590801246.87

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 0.00000000 | **1-Year:** 0.00000000 | **5-Year:** 0.00000000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

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

- **3-Month:** -113.18000000 | **1-Year:** -4168.28000000 | **5-Year:** -8885.91000000 | **10-Year:** -193.40000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000025975 | 4.62%                | 6.78%                | -2.94%               |
| Class ID C000221940 | 4.62%                | 6.81%                | -2.94%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-99526297.41            | $423530232.26                              |
| Month 2  | $31846064.68             | $554919300.70                              |
| Month 3  | $39501826.06             | $-309948425.04                             |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Lead Edge Growth Opportunities Ltd        | Lead Edge Growth Opportunities Ltd.          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |     111893 | NS      | $1124524.65   | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Citibank N.A.                             | Swap                                         | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DE               |  | CA        |    6072262 | OU      | $-392512.64   | -0.00%            |  |  |  | Yes           |                  2 | On Loan: No      |
| ESM Acquisition Corp                      | ESM Acquisition Corp.                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |        157 | NS      | $1579.42      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Flame Acquisition Corp                    | Flame Acquisition Corp.                      | CUSIP: 33850F108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    1032145 | NS      | $10373057.25  | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Mason Industrial Technology Inc           | Mason Industrial Technology, Inc.            | CUSIP: 57520Y205<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     760239 | NS      | $7556775.66   | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Biote Corp                                | Biote Corp.                                  | CUSIP: 090683111<br>LEI: N/A                  | N/A              | DE               |  | US        |       1834 | NS      | $458.50       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury                    | U.S. Treasury Bills                          | CUSIP: 912796XS3<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |   80000000 | PA      | $79874512.00  | 0.93%             | 2023-01-19      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Vision Solutions, Inc.                    | Vision Solutions, Inc.                       | CUSIP: 70477BAE2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    2571000 | PA      | $2140357.50   | 0.02%             | 2028-04-24      | Floating      | 1.00%                 | Yes           |                  2 | On Loan: No      |
| United States Treasury                    | U.S. Treasury Bill - WI Post Auction         | CUSIP: 912796ZM4<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |   51000000 | PA      | $50843440.20  | 0.59%             | 2023-01-31      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Fixed Income Clearing Corp                | FIXED INC CLEARING CORP.REPO                 | CUSIP: 000000000<br>LEI: 549300H47WTHXPU08X20 | Long             | RA               | CORP              | US        |    1317000 | PA      | $1317000.00   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Roche Holdings Inc                        | Roche Holdings, Inc.                         | CUSIP: 77119MNL7<br>LEI: PVJRP0EQNV6OGDPZGY95 | Long             | STIV             | CORP              | US        |   66000000 | PA      | $65859970.10  | 0.77%             | 2023-01-20      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Apollo Strategic Growth Capital II        | Apollo Strategic Growth Capital II           | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |     206968 | NS      | $2080028.40   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| MCDERMOTT INTL LTD                        | McDermott International, Inc.                | CUSIP: 58004K109<br>LEI: N/A                  | Long             | EC               | CORP              | BM        |   31609578 | NS      | $10115064.96  | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Roche Holdings Inc                        | Roche Holdings, Inc.                         | CUSIP: 77119MN52<br>LEI: PVJRP0EQNV6OGDPZGY95 | Long             | STIV             | CORP              | US        |   45000000 | PA      | $44980250.01  | 0.52%             | 2023-01-05      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Farfetch US Holdings, Inc                 | Farfetch U.S. Holdings, Inc.                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   19580000 | PA      | $16740900.00  | 0.19%             | 2027-10-20      | Variable      | 10.21%                | Yes           |                  2 | On Loan: No      |
| GX Acquisition Corp II                    | GX Acquisition Corp. II                      | CUSIP: 36260F105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     648196 | NS      | $6488441.96   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Wells Fargo & Co                          | Wells Fargo & Co.                            | CUSIP: 949746101<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EC               | CORP              | US        |    3961725 | NS      | $163579625.25 | 1.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Colonnade Acquisition Corp II             | Colonnade Acquisition Corp. II               | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               |  | KY        |     206426 | NS      | $4644.59      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Silver Spike Acquisition Corp II          | Silver Spike Acquisition Corp. II            | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               |  | KY        |      32692 | NS      | $974.22       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Atlantic Coastal Acquisition Corp         | Atlantic Coastal Acquisition Corp.           | CUSIP: 048453112<br>LEI: 549300DD1GOILOBIY455 | N/A              | DE               |  | US        |     412865 | NS      | $20643.25     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| ESCROW ALTEGRITY INC                      | Altegrity, Inc.                              | CUSIP: 021ESC017<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    4756180 | NS      | $17597866.00  | 0.20%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Ferguson PLC                              | Ferguson PLC                                 | CUSIP: 000000000<br>LEI: 213800DU1LGY3R2S2X42 | Long             | EC               | CORP              | JE        |     699096 | NS      | $88764219.12  | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| MCDERMOTT LC                              | McDermott International, Inc.                | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   40000827 | PA      | $22000454.79  | 0.26%             | 2025-12-31      | Variable      | 3.74%                 | Yes           |                  3 | On Loan: No      |
| Johnson & Johnson                         | Johnson & Johnson                            | CUSIP: 47816GP37<br>LEI: 549300G0CFPGEF6X2043 | Long             | STIV             | CORP              | US        |  100000000 | PA      | $99612250.00  | 1.16%             | 2023-02-03      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| FTAC Hera Acquisition Corp                | FTAC Hera Acquisition Corp.                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |     124395 | NS      | $1253901.60   | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Flame Acquisition Corp                    | Flame Acquisition Corp.                      | CUSIP: 33850F116<br>LEI: N/A                  | N/A              | DE               |  | US        |     516072 | NS      | $335446.80    | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury                    | U.S. Treasury Bills                          | CUSIP: 912796YL7<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |   79000000 | PA      | $78343201.90  | 0.91%             | 2023-03-16      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Holcim AG                                 | Holcim AG                                    | CUSIP: 000000000<br>LEI: 529900EHPFPYHV6IQO98 | Long             | EC               | CORP              | CH        |    5750850 | NS      | $297789107.23 | 3.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Uber Technologies Inc                     | Uber Technologies, Inc.                      | CUSIP: 90353T100<br>LEI: 549300B2FTG34FILDR98 | Long             | EC               | CORP              | US        |    1747274 | NS      | $43210086.02  | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Roche Holdings Inc                        | Roche Holdings, Inc.                         | CUSIP: 77119MP84<br>LEI: PVJRP0EQNV6OGDPZGY95 | Long             | STIV             | CORP              | US        |   40000000 | PA      | $39819711.22  | 0.46%             | 2023-02-08      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| FPS LLC                                   | FPS Group Ltd.                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    2073734 | NS      | $248852379.64 | 2.90%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Roche Holdings Inc                        | Roche Holdings, Inc.                         | CUSIP: 77119MNB9<br>LEI: PVJRP0EQNV6OGDPZGY95 | Long             | STIV             | CORP              | US        |   80000000 | PA      | $79910666.67  | 0.93%             | 2023-01-11      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury                    | U.S. Treasury Bills                          | CUSIP: 912796YK9<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |   43000000 | PA      | $42672249.70  | 0.50%             | 2023-03-09      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| TLG Acquisition One Corp                  | TLG Acquisition One Corp.                    | CUSIP: 87257M116<br>LEI: N/A                  | N/A              | DE               |  | US        |     414327 | NS      | $16987.41     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Citigroup Inc                             | Citigroup, Inc.                              | CUSIP: 172967424<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | EC               | CORP              | US        |    3571897 | NS      | $161556901.31 | 1.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Disruptive Acquisition Corp I             | Disruptive Acquisition Corp. I               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |    1032135 | NS      | $10393599.45  | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Metals Acquisition Corp                   | Metals Acquisition Corp.                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |     539903 | NS      | $5401729.52   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Landcadia Holdings IV Inc                 | Landcadia Holdings IV, Inc.                  | CUSIP: 51477A112<br>LEI: N/A                  | N/A              | DE               |  | US        |     310750 | NS      | $41826.95     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury                    | U.S. Treasury Bills                          | CUSIP: 912796ZK8<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |   75000000 | PA      | $74887800.00  | 0.87%             | 2023-01-17      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| J.P. MORGAN PRIME BROKER USD              | Collateral Position                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |     187244 | NS      | $187243.61    | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Comcast Corp                              | Comcast Corp.                                | CUSIP: 20030N101<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | EC               | CORP              | US        |    7087694 | NS      | $247856659.18 | 2.89%             |  |  |  | No            |                  1 | On Loan: No      |
| EPIC GAMES, INC.                          | Epic Games, Inc.                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      33130 | NS      | $9740220.00   | 0.11%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Marriott International Inc/MD             | Marriott International, Inc.                 | CUSIP: 571903202<br>LEI: 225YDZ14ZO8E1TXUSU86 | Long             | EC               | CORP              | US        |     502930 | NS      | $74881247.70  | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| DHC Acquisition Corp                      | DHC Acquisition Corp.                        | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               |  | KY        |     173528 | NS      | $1735.28      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| BurTech Acquisition Corp                  | BurTech Acquisition Corp.                    | CUSIP: 123013104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    1007550 | NS      | $10236708.00  | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Just Eat Takeaway.com NV                  | Just Eat Takeaway.com NV                     | CUSIP: 000000000<br>LEI: 724500FVZIBSSQ7SHI95 | Long             | EC               | CORP              | NL        |     965437 | NS      | $20410668.05  | 0.24%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Dell Technologies Inc                     | Dell Technologies, Inc.                      | CUSIP: 24703L202<br>LEI: 549300TJB5YBRUPOG437 | Long             | EC               | CORP              | US        |     862607 | NS      | $34694053.54  | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc                              | Alphabet, Inc.                               | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |    2408380 | NS      | $212491367.40 | 2.47%             |  |  |  | No            |                  1 | On Loan: No      |
| HERBALIFE/HLF FINANCING                   | Herbalife Nutrition Ltd./HLF Financing, Inc. | CUSIP: 42704MAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    8545000 | PA      | $7568904.65   | 0.09%             | 2025-09-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| Agile Growth Corp                         | Agile Growth Corp.                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |     972411 | NS      | $9947764.53   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Cie Financiere Richemont SA               | Cie Financiere Richemont SA                  | CUSIP: 000000000<br>LEI: 549300YIPGJ6UX2QPS51 | N/A              | DE               |  | CH        |    2521536 | NS      | $2099802.87   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| DELIVERY HERO AG                          | Delivery Hero SE                             | CUSIP: 000000000<br>LEI: 529900C3EX1FZGE48X78 | Long             | DBT              | CORP              | DE        |    2600000 | PA      | $2079959.89   | 0.02%             | 2026-04-30      | Fixed         | 1.00%                 | Yes           |                  2 | On Loan: No      |
| Nexon Co Ltd                              | Nexon Co. Ltd.                               | CUSIP: 000000000<br>LEI: 5299005SFO0GAJFLKN43 | Long             | EC               | CORP              | JP        |    1965397 | NS      | $44357710.41  | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| ECARX Holdings Inc                        | ECARX Holdings, Inc.                         | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               |  | KY        |     167442 | NS      | $16426.06     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Ares Acquisition Corp                     | Ares Acquisition Corp.                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |     494451 | NS      | $4979121.57   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| NXP Semiconductors NV                     | NXP Semiconductors NV                        | CUSIP: 000000000<br>LEI: 724500M9BY5293JDF951 | Long             | EC               | CORP              | NL        |     521846 | NS      | $82467323.38  | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Digital Transformation Opportunities Corp | Digital Transformation Opportunities Corp.   | CUSIP: 25401K107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      72255 | NS      | $725801.48    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Pine Technology Acquisition Corp          | Pine Technology Acquisition Corp.            | CUSIP: 722850112<br>LEI: N/A                  | N/A              | DE               |  | US        |     322523 | NS      | $548.29       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Forest Road Acquisition Corp II           | Forest Road Acquisition Corp. II             | CUSIP: 34619V202<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    1242983 | NS      | $12504408.98  | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Peridot Acquisition Corp II               | Peridot Acquisition Corp. II                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |     582407 | NS      | $5882310.70   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| African Gold Acquisition Corp             | African Gold Acquisition Corp.               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |     175509 | NS      | $1695416.94   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Delivery Hero SE                          | Delivery Hero SE                             | CUSIP: 000000000<br>LEI: 529900C3EX1FZGE48X78 | Long             | EC               | CORP              | DE        |     551839 | NS      | $26452252.51  | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Northern Star Investment Corp IV          | Northern Star Investment Corp. IV            | CUSIP: 66575B101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     425470 | NS      | $4275973.50   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury                    | U.S. Treasury Bills                          | CUSIP: 912796XR5<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |   90000000 | PA      | $89921313.00  | 1.05%             | 2023-01-12      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Nestle Capital Corp                       | Nestle Capital Corp.                         | CUSIP: 64105HNC2<br>LEI: 549300VIRTXBZ81J0S95 | Long             | STIV             | CORP              | US        |   40000000 | PA      | $39947811.03  | 0.47%             | 2023-01-12      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Ross Acquisition Corp II                  | Ross Acquisition Corp. II                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |     231224 | NS      | $2333050.16   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| GACP II LP                                | GACP II LP                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     958312 | NS      | $10632014.01  | 0.12%             |  |  |  | Yes           |                  3 | On Loan: No      |
| PowerUp Acquisition Corp                  | PowerUp Acquisition Corp.                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |      46911 | NS      | $483183.30    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| GULFPORT ENERGY OP CORP                   | Gulfport Energy Corp.                        | CUSIP: 402635AQ9<br>LEI: 254900DJRGZBUZ3F5038 | Long             | DBT              | CORP              | US        |     596287 | PA      | $581379.83    | 0.01%             | 2026-05-17      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| FPS SHELBY HOLDCO I LLC                   | FPS Shelby Holdco I LLC                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |     107799 | NS      | $8876467.57   | 0.10%             |  |  |  | Yes           |                  3 | On Loan: No      |
| InterPrivate IV InfraTech Partners Inc    | InterPrivate IV InfraTech Partners, Inc.     | CUSIP: 46064T201<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     866479 | NS      | $8794761.85   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc                              | Alphabet, Inc.                               | CUSIP: 02079K107<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |    1819280 | NS      | $161424714.40 | 1.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Cie Financiere Richemont SA               | Cie Financiere Richemont SA                  | CUSIP: 000000000<br>LEI: 549300YIPGJ6UX2QPS51 | Long             | EC               | CORP              | CH        |     672990 | NS      | $87267075.11  | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| ACCOUNTING ONLY FX                        | Purchased USD / Sold JPY                     | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              |  | US        |          1 | NC      | $-842716.11   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| DELIVERY HERO AG                          | Delivery Hero SE                             | CUSIP: 000000000<br>LEI: 529900C3EX1FZGE48X78 | Long             | DBT              | CORP              | DE        |   86200000 | PA      | $73061588.16  | 0.85%             | 2027-01-23      | Fixed         | 1.00%                 | Yes           |                  2 | On Loan: No      |
| Northern Star Investment Corp IV          | Northern Star Investment Corp. IV            | CUSIP: 66575B119<br>LEI: N/A                  | N/A              | DE               |  | US        |      70911 | NS      | $1652.23      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Macondray Capital Acquisition Corp I      | Macondray Capital Acquisition Corp. I        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |    1030833 | NS      | $10174321.71  | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Gulfport Energy Corp                      | Gulfport Energy Corp.                        | CUSIP: 402635502<br>LEI: 254900DJRGZBUZ3F5038 | Long             | EC               | CORP              | US        |     526060 | NS      | $38739058.40  | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury                    | U.S. Treasury Bills                          | CUSIP: 912796YA1<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |   65000000 | PA      | $64678770.00  | 0.75%             | 2023-02-16      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| JDE Peet's NV                             | JDE Peet's NV                                | CUSIP: 000000000<br>LEI: 724500EHG519SE5ZRT89 | Long             | EC               | CORP              | NL        |    4041690 | NS      | $116900003.75 | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Barclays Capital, Inc.                    | Swap                                         | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | N/A              | DE               |  | CA        |    6798009 | OU      | $-672105.54   | -0.01%            |  |  |  | Yes           |                  2 | On Loan: No      |
| Fusion Acquisition Corp II                | Fusion Acquisition Corp. II                  | CUSIP: 36118N201<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     173927 | NS      | $1744487.81   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| GSR II Meteora Acquisition Corp           | GSR II Meteora Acquisition Corp.             | CUSIP: 36263W121<br>LEI: N/A                  | N/A              | DE               |  | US        |        425 | NS      | $27.16        | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Activision Blizzard Inc                   | Activision Blizzard, Inc.                    | CUSIP: 00507V109<br>LEI: 549300TPQQDBP9GNOF40 | Long             | EC               | CORP              | US        |     926338 | NS      | $70911173.90  | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Pine Technology Acquisition Corp          | Pine Technology Acquisition Corp.            | CUSIP: 722850104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     967571 | NS      | $9772467.10   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Northern Star Investment Corp III         | Northern Star Investment Corp. III           | CUSIP: 66574L100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     550747 | NS      | $5535007.35   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| C5 Acquisition Corp                       | C5 Acquisition Corp.                         | CUSIP: 12530D204<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     245091 | NS      | $2507280.93   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Netflix Inc                               | Netflix, Inc.                                | CUSIP: 64110L106<br>LEI: 549300Y7VHGU0I7CE873 | Long             | EC               | CORP              | US        |     238704 | NS      | $70389035.52  | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| MCDERMOTT SENIOR EXIT LC                  | McDermott Senior Exit LC                     | CUSIP: 000000000<br>LEI: N/A                  | Short            | DBT              | CORP              | US        |  -19843000 | PA      | $-8929350.00  | -0.10%            | 2024-06-30      | None          | 0.00%                 | Yes           |                  2 | On Loan: No      |
| United States Treasury                    | U.S. Treasury Bills                          | CUSIP: 912796Y60<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |   80000000 | PA      | $79547848.00  | 0.93%             | 2023-02-21      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ESC GCB GULFPORT ENERG                    | Gulfport Energy Corp.                        | CUSIP: 402ESCAS6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    8822000 | PA      | $0.00         | 0.00%             | 2025-05-15      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| ICON PLC                                  | ICON PLC                                     | CUSIP: 000000000<br>LEI: 6354008SRQGEMC4XFI67 | Long             | EC               | CORP              | IE        |     233915 | NS      | $45437988.75  | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadcom Inc                              | Broadcom, Inc.                               | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |     271961 | NS      | $152061553.93 | 1.77%             |  |  |  | No            |                  1 | On Loan: No      |
| ESC CB GULFPORT ENERGY                    | Gulfport Energy Corp.                        | CUSIP: 402ESCAP2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    9417000 | PA      | $0.00         | 0.00%             | 2023-05-01      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| United States Treasury                    | U.S. Treasury Bills                          | CUSIP: 912796S34<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |  100000000 | PA      | $99761430.00  | 1.16%             | 2023-01-26      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury                    | U.S. Treasury Bills                          | CUSIP: 912796Y86<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |   70000000 | PA      | $69482686.00  | 0.81%             | 2023-03-07      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Silver Spike Acquisition Corp II          | Silver Spike Acquisition Corp. II            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |     130768 | NS      | $1319449.12   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury                    | U.S. Treasury Bills                          | CUSIP: 912796X95<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |   55000000 | PA      | $54989088.00  | 0.64%             | 2023-01-05      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Citibank N.A.                             | Swap                                         | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DE               |  | CA        |    4412792 | OU      | $-787035.76   | -0.01%            |  |  |  | Yes           |                  2 | On Loan: No      |
| TLG Acquisition One Corp                  | TLG Acquisition One Corp.                    | CUSIP: 87257M108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    1242983 | NS      | $12653566.94  | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Global Partner Acquisition Corp II        | Global Partner Acquisition Corp. II          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |     387688 | NS      | $3911771.92   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Vornado Realty Trust                      | Vornado Realty Trust                         | CUSIP: 929042109<br>LEI: N/A                  | Long             | EC               |  | US        |     877469 | NS      | $18260129.89  | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| PG&E Corp                                 | PG&E Corp.                                   | CUSIP: 69331C108<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | EC               | CORP              | US        |    1329111 | NS      | $21611344.86  | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Plum Acquisition Corp I                   | Plum Acquisition Corp. I                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |     969880 | NS      | $9786089.20   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs & Co. LLC                   | Swaption                                     | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DIR              |  | US        | 9204500000 | NC      | $4648272.50   | 0.05%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Atlantic Coastal Acquisition Corp         | Atlantic Coastal Acquisition Corp.           | CUSIP: 048453104<br>LEI: 549300DD1GOILOBIY455 | Long             | EC               | CORP              | US        |    1238597 | NS      | $12410741.94  | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| BigBear.ai Holdings Inc                   | BigBear.ai Holdings, Inc.                    | CUSIP: 08975B117<br>LEI: 549300XGCF2ELN28CS63 | N/A              | DE               |  | US        |     266952 | NS      | $8195.43      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Slam Corp                                 | Slam Corp.                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |     714327 | NS      | $7214702.70   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury                    | U.S. Treasury Bills                          | CUSIP: 912796ZJ1<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |  105000000 | PA      | $104927896.50 | 1.22%             | 2023-01-10      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| LG Corp                                   | LG Corp.                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KR        |    1476300 | NS      | $91181518.39  | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| GULFPORT ENERGY OP CORP                   | Gulfport Energy Corp.                        | CUSIP: 402635601<br>LEI: 254900DJRGZBUZ3F5038 | Long             | DBT              | CORP              | US        |       1345 | PA      | $672500.00    | 0.01%             | 2022-01-31      | Fixed         | 10.00%                | No            |                  3 | On Loan: No      |
| Kinder Morgan Inc                         | Kinder Morgan, Inc.                          | CUSIP: 49456B101<br>LEI: 549300WR7IX8XE0TBO16 | Long             | EC               | CORP              | US        |    5262897 | NS      | $95153177.76  | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| ESC CB GULFPORT ENERGY                    | Gulfport Energy Corp.                        | CUSIP: 402ESCAT4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    9128000 | PA      | $0.00         | 0.00%             | 2026-01-15      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| Colonnade Acquisition Corp II             | Colonnade Acquisition Corp. II               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |    1032132 | NS      | $10393569.24  | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Swvl Holdings Corp                        | Swvl Holdings Corp.                          | CUSIP: 000000000<br>LEI: 254900YBV6FCSGOW6E19 | N/A              | DE               |  | VG        |      27467 | NS      | $546.59       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Atlantic Coastal Acquisition Corp II      | Atlantic Coastal Acquisition Corp. II        | CUSIP: 04845A207<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     320872 | NS      | $3266476.96   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Golden Arrow Merger Corp                  | Golden Arrow Merger Corp.                    | CUSIP: 380799106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    1032132 | NS      | $10336801.98  | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| FirstEnergy Corp                          | FirstEnergy Corp.                            | CUSIP: 337932107<br>LEI: 549300SVYJS666PQJH88 | Long             | EC               | CORP              | US        |    2241472 | NS      | $94007335.68  | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Northern Star Investment Corp III         | Northern Star Investment Corp. III           | CUSIP: 66574L118<br>LEI: N/A                  | N/A              | DE               |  | US        |      91782 | NS      | $1835.65      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury                    | U.S. Treasury Bills                          | CUSIP: 912796T33<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |  100000000 | PA      | $99400700.00  | 1.16%             | 2023-02-23      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Analog Devices Inc                        | Analog Devices, Inc.                         | CUSIP: 032654105<br>LEI: GYVOE5EZ4GDAVTU4CQ61 | Long             | EC               | CORP              | US        |    1576109 | NS      | $258529159.27 | 3.01%             |  |  |  | No            |                  1 | On Loan: No      |
| WAYFAIR INC                               | Wayfair, Inc.                                | CUSIP: 94419LAM3<br>LEI: 54930027N9ZAVYFDHK53 | Long             | DBT              | CORP              | US        |   84672000 | PA      | $54740448.00  | 0.64%             | 2025-10-01      | Fixed         | 0.62%                 | No            |                  2 | On Loan: No      |
| United States Treasury                    | U.S. Treasury Bills                          | CUSIP: 912796XT1<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |  100000000 | PA      | $99686280.00  | 1.16%             | 2023-02-02      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury                    | U.S. Treasury Bills                          | CUSIP: 912796ZT9<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |   41000000 | PA      | $40844298.40  | 0.48%             | 2023-02-07      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Meta Platforms Inc                        | Meta Platforms, Inc.                         | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |     940467 | NS      | $113175798.78 | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury                    | U.S. Treasury Bills                          | CUSIP: 912796Z77<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |   70000000 | PA      | $69362314.00  | 0.81%             | 2023-03-21      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Churchill Capital Corp VII                | Churchill Capital Corp. VII                  | CUSIP: 17144M201<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     616422 | NS      | $6139624.76   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Cornerstone OnDemand, Inc.                | Cornerstone OnDemand, Inc.                   | CUSIP: 86803YAB9<br>LEI: 549300Z402F16H5EGH48 | Long             | LON              | CORP              | US        |    2571000 | PA      | $2291403.75   | 0.03%             | 2028-10-16      | Floating      | 8.13%                 | Yes           |                  2 | On Loan: No      |
| CarMax Inc                                | CarMax, Inc.                                 | CUSIP: 143130102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    1521148 | NS      | $92622701.72  | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Gores Holdings VIII Inc                   | Gores Holdings VIII, Inc.                    | CUSIP: 382863108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     235462 | NS      | $2368747.72   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury                    | U.S. Treasury Bills                          | CUSIP: 912796ZU6<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |   88000000 | PA      | $87587332.80  | 1.02%             | 2023-02-14      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Naspers Ltd                               | Naspers Ltd.                                 | CUSIP: 000000000<br>LEI: 21380044BQ8812EEKT59 | Long             | EC               | CORP              | ZA        |     567954 | NS      | $94407133.10  | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| National Financial Services Corp.         | Swap                                         | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               |  | US        |    9944504 | OU      | $-597060.57   | -0.01%            |  |  |  | Yes           |                  2 | On Loan: No      |
| Roche Holdings Inc                        | Roche Holdings, Inc.                         | CUSIP: 77119MNW3<br>LEI: PVJRP0EQNV6OGDPZGY95 | Long             | STIV             | CORP              | US        |   20000000 | PA      | $19931366.67  | 0.23%             | 2023-01-30      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Aon PLC                                   | Aon PLC                                      | CUSIP: 000000000<br>LEI: 635400FALWQYX5E6QC64 | Long             | EC               | CORP              | IE        |     585242 | NS      | $175654533.88 | 2.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Herbalife Nutrition Ltd                   | Herbalife Nutrition Ltd.                     | CUSIP: 000000000<br>LEI: 549300BA7TYPBSZZIA41 | Long             | EC               | CORP              | KY        |    1628225 | NS      | $24227988.00  | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Prenetics Global Ltd                      | Prenetics Global Ltd.                        | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               |  | KY        |      10692 | NS      | $1710.72      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| ZILLOW GROUP INC                          | Zillow Group, Inc.                           | CUSIP: 98954MAH4<br>LEI: 2549002XEELQDIR6FU05 | Long             | DBT              | CORP              | US        |    1703000 | PA      | $1619553.00   | 0.02%             | 2025-05-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| TE Connectivity Ltd                       | TE Connectivity Ltd.                         | CUSIP: 000000000<br>LEI: 894500ZRIX9K13RHXR17 | Long             | EC               | CORP              | CH        |    1875698 | NS      | $215330130.40 | 2.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Lealand Finance Company B.V.              | Lealand Finance Co. BV                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | NL        |   34104549 | PA      | $18075410.96  | 0.21%             | 2025-06-30      | Variable      | 8.38%                 | Yes           |                  2 | On Loan: No      |
| Roche Holdings Inc                        | Roche Holdings, Inc.                         | CUSIP: 77119MNK9<br>LEI: PVJRP0EQNV6OGDPZGY95 | Long             | STIV             | CORP              | US        |   30000000 | PA      | $29939699.96  | 0.35%             | 2023-01-19      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Stratim Cloud Acquisition Corp            | Stratim Cloud Acquisition Corp.              | CUSIP: 86309R206<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     671649 | NS      | $6723206.49   | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| HeidelbergCement AG                       | HeidelbergCement AG                          | CUSIP: 000000000<br>LEI: LZ2C6E0W5W7LQMX5ZI37 | Long             | EC               | CORP              | DE        |    1012913 | NS      | $57770023.18  | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Heliogen Inc                              | Heliogen, Inc.                               | CUSIP: 42329E113<br>LEI: N/A                  | N/A              | DE               |  | US        |      98835 | NS      | $7412.63      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| LPL Financial Holdings Inc                | LPL Financial Holdings, Inc.                 | CUSIP: 50212V100<br>LEI: 549300XROQ4Y8G2L7682 | Long             | EC               | CORP              | US        |     440236 | NS      | $95165816.12  | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury                    | U.S. Treasury Bill - WI Post Auction         | CUSIP: 912796Y78<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |   40000000 | PA      | $39726548.00  | 0.46%             | 2023-02-28      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Samsung C&T Corp                          | Samsung C&T Corp.                            | CUSIP: 000000000<br>LEI: 988400GFRE4IDFPE9E64 | Long             | EC               | CORP              | KR        |     694573 | NS      | $62344037.56  | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| MCDERMOTT SUPER SENIOR EXIT LC            | McDermott International, Inc.                | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |          0 | PA      | $0.00         | 0.00%             | 2024-06-30      | Variable      | 0.00%                 | Yes           |                  2 | On Loan: No      |
| Gores Holdings VIII Inc                   | Gores Holdings VIII, Inc.                    | CUSIP: 382863116<br>LEI: N/A                  | N/A              | DE               |  | US        |      29432 | NS      | $8.83         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury                    | U.S. Treasury Bills                          | CUSIP: 912796ZL6<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |   80000000 | PA      | $79820944.00  | 0.93%             | 2023-01-24      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| International Flavors & Fragrances Inc    | International Flavors & Fragrances, Inc.     | CUSIP: 459506101<br>LEI: BZLRL03D3GPGMOGFO832 | Long             | EC               | CORP              | US        |    1809380 | NS      | $189695399.20 | 2.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Roche Holdings Inc                        | Roche Holdings, Inc.                         | CUSIP: 77119MNJ2<br>LEI: PVJRP0EQNV6OGDPZGY95 | Long             | STIV             | CORP              | US        |   30000000 | PA      | $29943050.00  | 0.35%             | 2023-01-18      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Alibaba Group Holding Ltd                 | Alibaba Group Holding Ltd.                   | CUSIP: 000000000<br>LEI: 5493001NTNQJDH60PM02 | Long             | EC               | CORP              | KY        |    2913002 | NS      | $32188589.06  | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Golden Arrow Merger Corp                  | Golden Arrow Merger Corp.                    | CUSIP: 380799114<br>LEI: N/A                  | N/A              | DE               |  | US        |     344044 | NS      | $2270.69      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Swire Pacific Ltd                         | Swire Pacific Ltd.                           | CUSIP: 000000000<br>LEI: 549300KZOZHII0DGF611 | Long             | EC               | CORP              | HK        |    3970793 | NS      | $34949103.40  | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| SHS MCDERMOTT INTRL                       | McDermott International, Inc.                | CUSIP: 58004K208<br>LEI: N/A                  | Long             | EC               | CORP              | BM        |    1053862 | NS      | $337235.84    | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Tio Tech A                                | Tio Tech A                                   | CUSIP: 000000000<br>LEI: 9845003AFE50FBFE3940 | Long             | EC               | CORP              | KY        |     297050 | NS      | $2988323.00   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Metals Acquisition Corp                   | Metals Acquisition Corp.                     | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               |  | KY        |     179967 | NS      | $88273.81     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Glencore PLC                              | Glencore PLC                                 | CUSIP: 000000000<br>LEI: 2138002658CPO9NBH955 | Long             | EC               | CORP              | JE        |   25011010 | NS      | $167029536.15 | 1.94%             |  |  |  | No            |                  1 | On Loan: No      |
| McDermott Technology Americas Inc         | McDermott Technology Americas, Inc.          | CUSIP: 000000000<br>LEI: N/A                  | Short            | LON              | CORP              | US        |  -11282457 | PA      | $-5077105.81  | -0.06%            | 2024-06-28      | Variable      | 6.35%                 | Yes           |                  3 | On Loan: No      |
| Landcadia Holdings IV Inc                 | Landcadia Holdings IV, Inc.                  | CUSIP: 51477A104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    1243001 | NS      | $12417579.99  | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Monument Circle Acquisition Corp          | Monument Circle Acquisition Corp.            | CUSIP: 61531M101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      69903 | NS      | $702525.15    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Nintendo Co Ltd                           | Nintendo Co. Ltd.                            | CUSIP: 000000000<br>LEI: 353800FEEXU6I9M0ZF27 | Long             | EC               | CORP              | JP        |    1210224 | NS      | $51013099.42  | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| U.S. FARMING REALTY TRUST II              | U.S. Farming Realty Trust II                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     120000 | NS      | $12524876.88  | 0.15%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Jefferies Financial Group Inc             | Jefferies Financial Group, Inc.              | CUSIP: 47233W109<br>LEI: 549300HOF34RGOJ5YL07 | Long             | EC               | CORP              | US        |    4697583 | NS      | $161033145.24 | 1.87%             |  |  |  | No            |                  1 | On Loan: No      |
| MCDERMOTT PREF SHARE MDR                  | McDermott International, Inc.                | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |      22591 | NS      | $13554380.40  | 0.16%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Lealand Finance Company B.V.              | Lealand Finance Co. BV                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | NL        |    1074102 | PA      | $644460.90    | 0.01%             | 2024-06-28      | Variable      | 7.38%                 | Yes           |                  2 | On Loan: No      |
| ZILLOW GROUP INC                          | Zillow Group, Inc.                           | CUSIP: 98954MAG6<br>LEI: 2549002XEELQDIR6FU05 | Long             | DBT              | CORP              | US        |   12336000 | PA      | $12428520.00  | 0.14%             | 2026-09-01      | Fixed         | 1.38%                 | No            |                  2 | On Loan: No      |
| Signature Bank/New York NY                | Signature Bank                               | CUSIP: 82669G104<br>LEI: VLP5AP0XK2GM6GKD1007 | Long             | EC               | CORP              | US        |      71182 | NS      | $8201590.04   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Howmet Aerospace Inc                      | Howmet Aerospace, Inc.                       | CUSIP: 443201108<br>LEI: 549300HO5WFZUT5N2T22 | Long             | EC               | CORP              | US        |    2409342 | NS      | $94952168.22  | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury                    | U.S. Treasury Bills                          | CUSIP: 912796ZH5<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |  112000000 | PA      | $111989113.60 | 1.30%             | 2023-01-03      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury                    | U.S. Treasury Bills                          | CUSIP: 912796XZ7<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |   50000000 | PA      | $49801450.00  | 0.58%             | 2023-02-09      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| GX Acquisition Corp II                    | GX Acquisition Corp. II                      | CUSIP: 36260F113<br>LEI: N/A                  | N/A              | DE               |  | US        |     216065 | NS      | $168530.70    | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| DHC Acquisition Corp                      | DHC Acquisition Corp.                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |     520584 | NS      | $5247486.72   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury                    | U.S. Treasury Bills                          | CUSIP: 912796Z69<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |   50000000 | PA      | $49592835.00  | 0.58%             | 2023-03-14      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Univar Solutions Inc                      | Univar Solutions, Inc.                       | CUSIP: 91336L107<br>LEI: 549300VSXHFQVR770L55 | Long             | EC               | CORP              | US        |    3402938 | NS      | $108213428.40 | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| WAYFAIR INC                               | Wayfair, Inc.                                | CUSIP: 94419LAF8<br>LEI: 54930027N9ZAVYFDHK53 | Long             | DBT              | CORP              | US        |    4278000 | PA      | $2422631.40   | 0.03%             | 2026-08-15      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs & Co. LLC                   | Swaption                                     | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DIR              |  | US        | 9204500000 | NC      | $3985548.50   | 0.05%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Mcdermott International Ltd               | Mcdermott International Ltd.                 | CUSIP: 000000000<br>LEI: 54930004RAXI4B3L4752 | Long             | EC               | CORP              | BM        |   14118980 | NS      | $4518073.60   | 0.05%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Charter Communications Inc                | Charter Communications, Inc.                 | CUSIP: 16119P108<br>LEI: 0J0XRGZE3PBRFEZ7MV65 | Long             | EC               | CORP              | US        |     393387 | NS      | $133397531.70 | 1.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Kismet Acquisition Three Corp             | Kismet Acquisition Three Corp.               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |    1032132 | NS      | $10321320.00  | 0.12%             |  |  |  | No            |                  3 | On Loan: No      |
| Digital Transformation Opportunities Corp | Digital Transformation Opportunities Corp.   | CUSIP: 25401K115<br>LEI: N/A                  | N/A              | DE               |  | US        |      18063 | NS      | $1159.64      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Virgin Orbit Holdings Inc                 | Virgin Orbit Holdings, Inc.                  | CUSIP: 92771A119<br>LEI: N/A                  | N/A              | DE               |  | US        |      94559 | NS      | $17020.62     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Walt Disney Co/The                        | Walt Disney Co.                              | CUSIP: 2546R3PH1<br>LEI: 549300GZKULIZ0WOW665 | Long             | STIV             | CORP              | US        |   20000000 | PA      | $19879888.84  | 0.23%             | 2023-02-17      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Groupe Bruxelles Lambert NV               | Groupe Bruxelles Lambert NV                  | CUSIP: 000000000<br>LEI: 549300KV0ZEHT2KVU152 | Long             | EC               | CORP              | BE        |    1972785 | NS      | $157495560.63 | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Safran SA                                 | Safran SA                                    | CUSIP: 000000000<br>LEI: 969500UIC89GT3UL7L24 | Long             | EC               | CORP              | FR        |     938989 | NS      | $117521003.70 | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| GSR II Meteora Acquisition Corp           | GSR II Meteora Acquisition Corp.             | CUSIP: 36263W113<br>LEI: N/A                  | N/A              | DE               |  | US        |         26 | NS      | $24.18        | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Lazard Growth Acquisition Corp I          | Lazard Growth Acquisition Corp. I            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |      37457 | NS      | $377566.56    | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| GSR II Meteora Acquisition Corp           | GSR II Meteora Acquisition Corp.             | CUSIP: 36263W105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |        425 | NS      | $4311.63      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Entain PLC                                | Entain PLC                                   | CUSIP: 000000000<br>LEI: 213800GNI3K45LQR8L28 | Long             | EC               | CORP              | IM        |    1533842 | NS      | $24505082.46  | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Walt Disney Co/The                        | Walt Disney Co.                              | CUSIP: 2546R3PF5<br>LEI: 549300GZKULIZ0WOW665 | Long             | STIV             | CORP              | US        |   49500000 | PA      | $49215375.05  | 0.57%             | 2023-02-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| FOOTPATH VENTURES SPV IV LP               | Footpath Ventures SPV IV LP                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     150000 | NS      | $12206855.25  | 0.14%             |  |  |  | Yes           |                  3 | On Loan: No      |
| U.S. FARMING REALTY TRUST LP              | U.S. Farming Realty Trust LP                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     350000 | NS      | $3639826.40   | 0.04%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Alpha Partners Technology Merger Corp     | Alpha Partners Technology Merger Corp.       | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |      40319 | NS      | $407221.90    | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Amazon.com Inc                            | Amazon.com, Inc.                             | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |    1346173 | NS      | $113078532.00 | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Westinghouse Air Brake Technologies Corp  | Westinghouse Air Brake Technologies Corp.    | CUSIP: 929740108<br>LEI: 06BTX5UWZD0GQ5N5Y745 | Long             | EC               | CORP              | US        |     890717 | NS      | $88902463.77  | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| ESC GCB GULFPORT ENERG                    | Gulfport Energy Corp.                        | CUSIP: 402ESCAQ0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   18209000 | PA      | $0.00         | 0.00%             | 2024-10-15      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| Ares Acquisition Corp                     | Ares Acquisition Corp.                       | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               |  | KY        |      98890 | NS      | $46112.50     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| BurTech Acquisition Corp                  | BurTech Acquisition Corp.                    | CUSIP: 123013112<br>LEI: N/A                  | N/A              | DE               |  | US        |    1007550 | NS      | $6146.06      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| ESC PERSHING SQUARE TO                    | Pershing Square Tontine Holdings Ltd.        | CUSIP: 715ESC018<br>LEI: 549300ZDVEYEVCF35B08 | Long             | EC               | CORP              | US        |     457176 | NS      | $0.00         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| American International Group Inc          | American International Group, Inc.           | CUSIP: 026874784<br>LEI: ODVCVCQG2BP6VHV36M30 | Long             | EC               | CORP              | US        |    4249990 | NS      | $268769367.60 | 3.13%             |  |  |  | No            |                  1 | On Loan: No      |
| SOUND HOLDING FP LUXEMBOURG               | Sound Holding FP Luxembourg                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | LU        |    1146250 | NS      | $66907722.70  | 0.78%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Twelve Seas Investment Co II              | Twelve Seas Investment Co. II                | CUSIP: 90118T205<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     990015 | NS      | $9949650.75   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| MariaDB PLC                               | MariaDB PLC                                  | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               |  | IE        |     316054 | NS      | $94816.20     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury                    | U.S. Treasury Bills                          | CUSIP: 912796YB9<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |   75000000 | PA      | $74489835.00  | 0.87%             | 2023-03-02      | None          | 0.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2023-01-18

**Name of Applicant:** FPA FUNDS TRUST

**Signature:** Lake Setzler

**Name of Signer:** Lake Setzler

**Title:** Treasurer